Full text of Commercial and Financial Chronicle : June 24, 1916 : Railway and Industrial Section, Vol. 102, No. 2661

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RA ILWAY AND INDUSTRIAL
S E C T I O N
OF T H E

C

o m m e r c ia l

& F

in a n c ia l

C

h r o n ic l e .

Copyrighted In 1916 according to Act of Congress, by W ILLIAM B. DANA COM PANY, in office of Librarian of Congress, Washington. D . C.
V o l.

N E W

10 2 .

Y O R K ,

J U N E

24,

1916.

N o . 2661.

IN D E X TO MORTGAGES.
R a il w a y

a n d

I n d u s t r ia l

S e c t io n .

The Railway and industrial Section, Issued three times a year on the last
Saturday of February, June and October, is furnished without extra charge to
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Front, Pino and Depeyster Streets, New York.

RAILROAD A N D OTHER M APS IN THIS ISSUE.
Map.
Page.
American Public Servlco C o_________________________________________ 141
Atchison Topeka & Santa Fo ltailway_______________________________ 5
Atlantic Coast Line Railroad________________________________________ 7
Baltimore & Ohio Railroad__________________________________________ 11
Buffalo Rochester & Pittsburgh Railway-------------------------------------------- 15
Buffalo & Susquehanna Railroad Corporation------------------------------------ 17
Canadian Northern Railway----------------------------------------------------------19
Canadian Pacific Railway---------------------------------------------------------------20-21
Carolina Clinchrield & Ohio R ailway..
- - - - - ...................................- 23
Central Pacific Railway— See Southern Pacifie Company....................... 122
Chesapoako & Ohio Railway Linos----- ---------------------------------------------- 27
Chicago Burlington & Quincy Railroad...................................................... 29
Chicago Milwaukee & St. Paul Railway----------3f
Chicago * North Wostern Railway............................................................. 33
Chicago St. Paul Minn. & Omaha— See Chicago * North Western__
33
Chicago Terro Haute & Southeastern Railway_____________________
37
Chicago * Wostern Indiana Railroad...................................... .............39
Cleveland Cincinnati Chicago & St. Louis— See N. Y. Contral Lines 96-97
Columbia Gas & Electric Company...............................................................151
Delaware Lackawanna & Western Railroad______________________
45
Donver & Rio Grando Railroad.................................................. .............."" 47
Erie Railroad_______________ - - - - - - - ----------------------------------------------- 49
Galveston Harrisburg & San Antonio Ity.— See Southern Pacific______119
General Gas & Electric C o . ------- . . .
_____________ ______ _________ 160
Grand Rapids & Indiana R y.—-See Pennsylvania R R ...................102-103
Grand Trunk Pacific— See Grand Trunk System____________ _
54.55
Grand Trunk System.....................................................
54-55
Groat Northern R a ilw a y ----...............................................
-.58-59
Gulf Florida & Alabama Railway
....................................................... 61
Hocking Valloy Railway Lines— See Chosapeako & Ohio....................
27
Houston & Texas Central Railroad— See Southern Pacific.......................119
Hudson & Manhattan Railroad------------------------------ ----------------------- _ 63
Illinois Contral Railroad--- — - .......................................................................65
Intorborough Rapid 1 ransit Company------------------------------------------------Inter Stato Electric Corporation.......................................... .............. ........166
Kansas City Southern Railway...............- ........................................... ....... 69
Lehigh Valloy Railroad---------- --------------------------------------------------------- 73
Lehigh Sc Now England Railroad.............................................. ................... 75
Louisville & Nashvillo Railroad------- ------------------------------------------------- 77
Michigan Contral Railroad— See Now York Contral...............................96-97
Minneapolis Sc St. Louis R a ilr o a d ------------------------------------------------- 81
Minneapolis St. Paul & S. Ste. Mario R y .— See Canadian Pacific__ 20-21
Missouri Pacific Railway--------------- -------------------------------------------------- --Novada-Callfornia Electric Corporation---------------------------------------------- 176
Now England Power Co. System-------------------------------------------------------- 177
Now York Contral Linos_________________________________ __________96-97
Now York Chicago & St. Louis Railroad— See Now York Central__ 96-97
Norfolk & Western Railway___________________________
95
98-99
Northern Pacific Railway.................................................
Ohio Cities Gas C o........................ .................. — ..............
180
Oregon Short Lino Railroad— See Union Pacific_____________ ________ 125
Pennsylvania Railroad— -.— - - ----- - - .......................................... ’ 102-103
Pitts. Cine. Chicago & St. Louis R y .— See Pennsylvania__
102-103
Pittsburgh Fort Wayne & Chicago Railway— See Pennsylvania____102-103
Reading System.......... ......... ........................ .
....... ......... ........... ..........i l l
Rio Grando Southern Railroad— See Denver & Rio Grando____________ 47
St. Louis Iron Mountain & Southern R y .— See Missouri P acific...........1 85
Seaboard Air Lino Railway_________________________________________ 111?
Southern Pacific Company_________________________________________ 1 122
Southern Railway...............
120-121
Southwestern Power Sc Light Company---------------------------------------------- 186
Union Pacific Railroad.........................................
129
Vandalia Railroad— See Pennsylvania R ailroad..................................102-103
Virginian Power C o......................................................................................... 195
Virginian Railway............................................ - ...........................................131
Western Pacific Railway— See Denver Sc Rio Grande_________________ 47
Western Maryland R y..................................................................................... 135




A bstracts of m ortgages published in tho “ Chronicle” :
Vol. Page.
Atchison Topeka & Santa Fe mtges., securing prior lion gold 4s
731
duo Oct. 1 1925 and gen. M . g. 4s duo Oct. 1 1995----------------. 62
739
Adjustment mortgage gold 4s due July 1 1995---------------------- . 62
976
C am bria* Clearfield IstM . 5s, 1891, due 1941------------------------- .5252
873
Central of Georgia R y. consol. M . 5s, gold, 1895, duo 1945---------. 61
242
. 45
Central R R . & Bk. Co. of Ga. Col. Trust 5s, due M ay 1 1937402
Central R R . Co. of N. J. Gen. M . 5s duo July 1 1987___________ .4545
808
Central Pacific 1st ref. gold 4s due Aug. 1 1949___________
. 69
30-year gold 3K s due Aug. 1 1929-------------------------------. 69
868
Chesapeake & Ohio 1st M . extension 6s due Juno 1 1922________ .4545
55
1st consol. M . 5s due M ay 1 1939____________________________ .4949
147
1st consol, on Rich. & All., due 1989_________________________51
. 51
144
2d consol, on Rich. & All., duo 1989__________________________5151
144
Gonoral mortgage gold 4 ^ s due March 1 1992_______________54
. 54
644
Chicago Burl. & Q. Nebraska ext. 4s, due M ay 1 1927__________ 4545
441
Illinois Division 3 j^s, due July 1 1949__________________
69
283
Chicago & Erie 1st and income mortgages, duo 1982____________ 5151
911
C. M . & 8t. P. 1st M .. Chic. & L. Sup. Div. 5s. due July 1 1921.. 45
146
1st M . Chic. & M o. River 5s, duo July 1 1926_________________ 45
213
1st M . Chic. & Pacific Western 5s, due Jan. 1 1921___________ 45
145
1st M . Dubuque 6s, due July 1 1920_________________________4545
144
1st M . Fargo & Southern 6s, due Jan. 1 1924_________________ 45
212
Is tM . Lacrosse & Davenport 5s, due July 1 1919____________ 4545
114
1st M . Wisconsin & Minn. 5s, due July 1 1921________________ 45
145
1st M . Wisconsin Valley 6s, due July 1 1920__________________ 45
145
General M . bonds of 1889, due 1989________________________ 4848
830
Chicago & North Western gen. M . gold bonds (up to 5 % ), due
Nov. 1 1987.................................................................................. 65
117
Chic. R. I. & Pac. gen. M . gold 4s, duo Jan. 1 1988____________ 66
522
Clev. Cine. Chic. & St. — . Collat. trust St. L. Div. 4s, due 1990. 52
42
Denver & Rio Grando 1st Con. M . 4s, due Jan. 1 1936__________ 4747
228
Improvement M . 5s, due June 1 1928_______________________ 4747
229
Duluth South Shoro * Atl. 1st M . 5s, due Jan. 1 1937__________ 4545
274
Erie R R . 1st consol, mtge. securing prior lion and general mtge.
bonds, due Jan. 1 1996____________________________________6262
86
Fort W o rth * Donver City IstM . 6s, due Dec. 1 1921__________ 4545
44
Georgia Car. & Nor. 1st M . 5s, due July 1 1929_________________ 4949
239
Ga. So. & Fla. (So. Ry. System) 1st M . 5s, g., due July 1 1945_ 61
429
Houston & Texas Central mortgages of 1890___________________ 5252
242
Iowa Contral 1st mtge. 5s of 1888, due 1938____________________ 4949
582
Illinois Contral-Lou. Div. & Term. 1st M . gold 3>$s, due July 1
1953 .............................................................................................. 66
136
St. Louis Div. & Term. IstM . gold bonds (3 to 4 % ), due July 1
1951...........................- ................................. - .............................. 66
138
Lako Erio & Western 1st M . 5s, due Jan. 1 1937------------------------ 46
45
2d M . 5s, due July 1 1941................................................................. 54
444
L. Sh. & M . So. 3 Vi % gold bond M . of 1897, due June 1 1997_____ 64 1182
Lehigh Valloy & New York 1st 4J4s. duo July 1 1940_____________51
51
114
Louisville & Nashville unified mtge. 4s, due July 1 1940________ 5151
613
Manhattan Elevated consol. 4s, due April 1 1990_______________5151
24
Minn. & St. L. 1st cons, gold 5s of 1894, duo Nov. 1 1934_________ 59 1145
M . St. P. & S. Ste. Marie 1st cons. M . 5s, due July 11938_______ 47
142
1st M . Minn. S. Ste. Marie & Atl. 5s, due Jan. 1 1926________ 4545
243
Mlnnoap. Street Ry. consol, mtge. of 1890, duo Jan. 15 1919___ 5252
356
M o. Kan. & Texas Ry. 1st M . 4s, duo Juno 1 1990_______________ 51
495
2d M . 4s, due June 1 1990...............................
51
495
Missouri Pacific 1st cons. M . 6s, duo Nov. 1 1920________________ 47
287
Mobile & Ohio gen. M . 4s, due Sept. 1 1938_____________________ 47
83
Now York Chicago & St. Louis 1st M . 4s, duo Oct. 1 1937_______ 4545
541
N. Y. Susq. & West. 1st Mtge. 5s, due Aug. 1 1940_____________ 5252
84
Terminal 1 st M . 5s, duo M ay 1 1943________________________ 5757
512
Norfolk & Western Ry. 1st consol, mtge. gold 4s, duo 1996______ 64
376
Northern Pacific Ry. prior lien M . 4s gold, due Jan. 1 1997______ 63 1012
General lion M . 3s, gold, due Jan. 1 2047________________
63 1017
Oregon RR. & Nav. consol, mort. 4s, due 1946____________________
63
928
Peoria & Eastern—O. Ind. & West. 1st M . 5s, due Apr. 1 1938__ 4747
20
Consol. 1st mtge. 4s, due April 1 1940_________________________51
51
246
Income mtge. bonds, due April 1 1990_________________________ 51
247
Pittsburgh & Wostern 1st M . 4s, duo July 1 1917_______________4545 ' 439
Reading Company and Phila. * Reading Coal & Iron Co. gen.
mortgago gold 4s, due Jan. 1 1997___________________________6464
612
Reading Company Voting Trust Agreement____________________ 64
955
Jersey Contral collat. trust 4s, duo Feb. 1 1951________________ 72
487
Rio Grando Southern 1st mtge., due July 1 1940________________ 54
163
Rio Grando West. 1st M . 4s. due July 1 1939____________________ 49
237
St. P. M . & M . 1st M . Mon. ext. 4s, due June 1 1937_____________45
342
Pacific Extension 1st mtge. 4s, due July 1 1940________________ 52
82
San Fran. & North Pacific IstM . 5s, due Jan. 1 1919_____________49
241
Southorn Pac. coll, trust gold 4s, duo Aug. 1 1949________________ 67
851
Southorn Pac. of Cal. 1st consol. M . of 1893, duo 1937___________ 57 104?
Southern Railway 1st cons. M . 5s, duo July 1 1994_____________ 59
T oxas* Pacific IstM . 5s. due Juno 1 2000...................... ............... 47
2d M . 5s, due Dec. 1 2000__________________________________ 47
82
Toledo Peoria & Western 1st M . 4s, due July 1 1917____________ 45
242
Union Pacific RR. 1st M . R R . & land grant 4s, duo July 1 1927 - 66
618
Virginia Midland general M . 5s, due M ay 1 1936_______________47
Wabash 1st M . 5s, due M ay 1 1939____________________________49
2d M . 5s, duo Fob. 1 1930.......................................................... „ 49
272
Debenture M . 6s, duo July 1 1939___________________________49
273
Dotroit & Chicago Exten. 1st M . 5s, due July 1 1941__________ 54 1049
Wostern Now York & Penn. 1st M . 5s, due Jan. 1 1937__________ 47
109
West Shoro 1st M . 4s of 1889, due 2361________________________ 42
176

R A IL R O A D C O M P A N IE S .
FOR MISCELLANEOUS COMPANIES, SEE PAGES 138 TO 198, INCLUSIVE
fS X P L A N A T O R Y .— This Supplement Is expressly Intended tor use In oonneotlon with the investment news and oftlolal reports published from week to
week In the "Chronicle.” Frequent referenoe Is therefore made to the volume and page of the "Chronicle” (as V. 98, p. 000). where fuller Information
Following also each statement Is given a reference to the latest news Item In the "Chronicle” respecting the oompauy. As every
Such Item contains a reference to the last preceding Item, the reader can run back at pleasure. Annual reports are In black-faced figures.
I n d e x . — Any company not In regular alphabetical order may be found by means of the Index, on another page, to roads leased and oonsolldav'-Dividends.— The dividends (“ d lv».") tabulated In the text are those actually p a i d during the calendar years named. Irrespective of when e a r ti m i
V el Earnings are given after deducting operating expenses and frequently taxes, but not Interest, rentals or other fixed charges.
Securities.— These are described In table at head of page (except the stock, for lack of space, sometimes only In text below) as follows:
Miles o f Road.— Opposite bonds, this means the miles of road owned covered by the mortgage.
Site or Par Value. — Shows (In dollars unless otherwise marked), the denominations or par value, ” 100, &o.,” signifying $100 and larger.
Bale Per Cent. — The Interest and dividend rate per annum Is here shown: g, gold; our, currency, x, extra: s, stock or scrip.
When Payable.—J & J stands tor January and July: F A A, February and August: M A S, March and September: A A O, April and Ootober; M & N
May and November: J & D. June and December: Q-J, quarterly from January: Q-F, quarterly from February: Q-M, quarterly from Maroh.
Bonds, Principal When Due, A c .— This column showB the date when the bonds mature and the amount and date of the last dividend.
Abbreviations In table: M tor "mortgage” : gen M for “ general mortgage” ; oon M or consol M for "consolidated mortgage” : lno M for “ Income mortgage*-:
g for "gold” : o or our for “ ourrenoy"; guar p & 1 for “ guaranteed principal and Interest"; cum for “ cumulative” : non-oum for “ non-oumulatlve” ;
conv for "convertible into stock at holder’s option” ; pref for “ preferred” ; pref p & d “ preferred as to principal and dividends; s f for “ sinking fund” ;
1 gr for "land grant” ; r “ fully registered (no coupons)” ; o “ coupon” ; c* "coupon, but may be registered as to principal” ; r* “ registered and coupon
bonds are Interchangeable” ; br "branch” ; end “ endorsed” ; red “ redeemable” ; dr’n or drawn, "subject to call by lot” ; p m "per mile": ass'd, “ assumed” :
Taxes.— The position of Interest payments as regards deductions for taxes, as shown by bond or mortgage, or as reported by company, as far as ascer­
tained, Is Indicated as follows: x ’ *payable without deduction for any tax” ; xx“ company assumes normal Federal Income tax for the present at least.’ ’
V “ Free from all taxes except Federal Income tax.”
yy “ Free from a ll ta xe s e x c e p t F e d e ra l and State Incomo tax.”
z “ No provision as to
exemption from ta x e s .” k “ Free from Pennsylvania S ta te t a x .”
’ F reo from Unites States ta x e s .”
Mortgage Trustees and Stock Transfer Agents (T R Treasurer’s Office) are Indicated thus:
Usm — U S Mtge & Trust Co IB — International Trust
UC — Union Trust
P H IL A D E LP H IA —
NEW YO RK CITY—
NB — New England Trust
VVC — Western Tr & Sav Bk FP — Fidelity Trust
Ba — Bankers Trust
GP — Girard Trust
OB — Old Colony Trust
BALTIMORE—
'Ca — Carnegie Trust
LOUISVILLE—
SB —State Trust
BBa — Baltimore Trust
FL — Fidelity & Columb Tr GuP — Guaranty Tr & S Der
Cc — Central Trust
CoBa— Continental Trust
P I P — Provident Life & Trust
LL — Louisville Trust
CHICAGO—
C o l— Columbia Trust Co
P e P — Penn Co for Iusur on
FBa — Fidelity Trust Co
CeC — Central Trust Co of 111
Km— Empire Trust Co
PITTSBURGH—
Lives & Gr Annuities
MBa — Maryland Trust
CC — Continental & Com­ CPi — Colonial Trust Co
Eq— Equitable Trust
mercial Tr & Sav Bk FPi — Fidelity Title & Tru»t W P — West End Tr & S D
F — Farmers’ Loan & Trust MeBa —Mercantile Tr & Dep
SBa —Safe Dep & Trust Co FC — First Trust & Sav Bk PPi — Pittsburgh Trust
(I — Guaranty Trust
IC — Illinois Trust & Sav Bk UPi — Union Trust
SAN FRANCISCO—
Me— Mercantile Trust
CS — California Safe Deposit
N — New York Trust
BOSTON—
MC — Merchants’ Loan & Tr
ST LOUIS—
& Trust
AB — American Trust
MSt— Mississippi Valley Tr
NC — Northern Trust
Un— Union Trust
US — Union Trust Co
BB — Boston Safe Dep & Tr RC — Royal Trust
SSt —St Louis Union Trust
Us — United States Trust

may be found.

Subscribers will confer a favor by giving Immediate

RAILROAD COMPANIES.
(For abbreviations, A c., see notes on first page)
Adirondack Ry— See Delaware & Hudson Co.
Akron & Barb Belt— 1st M s f (text) g ------Usmx.o’ &r
Akron Can & Young— 1st M $1,500,000 g red 105beg’15
Alabama Great Southern— Ordinary sto ck .. . .
..
Preferred stock 6 % and participating $4,000,000 . .
First M gold ext In 1908 (V 85, p 1645, 1460) ..F z .c
General mortgage £1.160.000---------------------- Cez.o
First consol M $25,000,000 g o ld ------------ G.zc*r*
Oar trust Series •>, due $50,000 s-a (V 88 , P 1559'x
do Scries E due $55,000 s-a g ........................ ..
Alabama Midland—See Atlantic Coast Line RR
Ala N O Tex & Pac Jet— Preferred " A ” stock 6 % oum
" A ” & “ B” debentures, redeemable since 1910 at 115c
" 0 ” debentures Income subj to call any time at 100
Alabama Tennessee & Nor— At Sc N RR 1st M .C o l x
Tombigbee Valley firstjM --------------------------- C olx
General mtgo_____________________
. . — Nx
Mobile Terminal Sc Ry 1st mtge gold red 105------- x
Ala Tenn & Nor Ry 1st & ref M (V. 96, p. 1228) .x
Alabama & Vicksburg—Stock (see text)----------------Vicksburg & Meridian 1st M g $1,000.000— F.xo*
Alabama & Vicksburg cons IstM $ 1,800,000..Cez.o
2d M orlg $700,000 g (1st M on land)----..C ex.c
Albany & N orthern— See Georgia Southw & Gulf
Albany & Susa— Stock dividends guar by D & H (end)
let M $10,000,000 g gu p & 1 conv(text) Usmx.o’ &t

Miles Date
Road Bonds
1902
1910

Par
Value

50
50

1,000
1878
290 1888
£100
1913 3. £ & fr
IU( >u
1.000
1916
...

—

—

1890
1890
1906
1906
1910
1910
1913
1913-5

143
113 1881
143 1889
143 1889

of

any error discovered In these tables.

Amount
Outstanding

1,000
100

Rate
%

$944,000
4g
1,500.000
6g
7.830.000 5 In 1915
3,380,350 6 In 1915
1,750,000 5 (6) g
£810,000
5g
5K
2.500.000
350.00(1
4H
4>* g
1 , 100,000

£ 10 £1,500,000 See text
£10 £2,500.000
5g
Various £1,797.240
£20 &c
£810,653
5g
1,000
$896,000
5g
1,000
450.000
5g
270.000
1.000
6
1.000
500.000
6g
See text
1.150.000
6g
100 2 . 100.000 5 In 1915
1,000 1 .000.000
6g
100 Ac
585,100
5g
100 &o
422.700
5g
100

142 1906 1,000 Ac

AKRON & BARBERTON BELT R R . — Belt line at Barberton, O., and
Falrlawn to Akron, O.; total, 23.4 m. Stock. $100,000, owned equally
by the Cleveland Akron & Cincinnati, Balt. & Ohio, Erie R R . and Northern
Ohio R y. Bonds auth., SI.500,000’ Issued, $1,140,000; $196,000 redeemed
by sinking fund; $360,000 reserved for future requirements. Drawn at 105
yearly for sinking fund.— (V. 78. p. 2598.)
AKRON CANTON & YOUNGSTOWN R Y.— Seo pago 199.
A L ABA M A GREAT SOUTHERN R R . — (See Map Southern R y.)— Own8
Wauhatchle, Tenn., to Meridian, Miss., 291 miles; leases Wauhatchie to
Chattanooga, 5 miles, and Belt R y. of Chattanooga, 49 miles; owns half
Interest in Woodstock & Blocton R y., 8 miles; trackage to Gadsden. Ala.,
6 miles; total operated, 358 miles.
ORGANIZATION.— Controlled by Southern R y., but operated Inde­
pendently. V. 81. p. 1722; V. 82. p. 159. Owns 3833,300 stock of S. W
Construction Co. received for $833,300 Cln. New Orl. & Tex. Pac. stock.
DIVIDENDS.— '01. ’02. '03. ’ 04. ’05 t o ’0 8 .’09. TO. ’ H t o ’ 15. 1916
Common stock______ 0 0 0 0
0
2 4
5 y r ly 4 H .—
Pref. stock_________ 9
9 10
9 6 yearly
6 6
6 yrly 7
In 1916 declared extra 2% on common, making 4 K % paid Juno 28; also
extra 1% on pref., making 4% payablo Aug. 28 and 7% in year 1916.
BONDS.— The first consol. M . bonds (limited to $25,000,000) are Issu­
able In lettered series, bearing not over 5% Interest, as follows: $2,500,000
series A (sold) to provide for additions and Improvements during 1914, 1915
and 1916: $5,686,600 reserved to refund $1,750,000 1st 5s and $3,936,600
gen. 5s of 1927; $9,000,000 for 2d track at, say, $30,000 per mile, 290 miles,
with exteuslon to be built from Wauhatchle to the Southern Ry. line, 3.2
miles; the remaining $7,813,400 for Improvements In and after 1917 at
5500,000 yearly. V. 97, p. 1285, 1582, 1820; V. 98. p. 72, 1534. Equip,
trust 1916. V. 102, p. 1539.
LATEST EARNINGS.— (1915-16..Gross, $4,578,044; net, $1,320,184
10 mos., July 1 to Apr. 30. \1914-15 ..G ross, 3,972,251; net,
755,962
ANNUAL REPORT.— Report for year ending June 30 1915, In V. 101. P­
1266, showed: Gross, $4,776,630: operating income, $944,263; other in­
come. $239,468; deduc., $557,557: bal. for stock, $626,173; pref. dlvs.,
6 % , $202,821: com. div., 5% , $391,500: bal., sur., $31,853.—4V. 98, p ­
72. 1534; V. 99, p. 1128,1211; V. 101, p. 1188. 1266; V. 102, p. 1539, 1986.)
ALABAMA NEW ORLEANS T E X A S & PACIFIC JUNCTION R A I L ­

W A Y S (L td .) . — An English co. controlling Ala. <5e Vicksburg, 143 miles;
Vicks. Shreveport & Pac., 189 m.; New Orleans & Nor. East., 196 miles.
DIVIDEN DS.— Pref. “ A .” 3>*%, 1908; 2 H % . 1910; 4 K % , 1911 and
1912; 3 ^ % , 1913; 414% , Mar. 1914: arrears from Aug. 28 1885, abt. 176%.
SECURITIES OWNED.—Alabama & Vicksburg $30,000 1st mtge.,
$843,400 2d mtge.. $141,100 consol, mtge. and $1,168,000 stock; Vicks­
burg Shreveport & Pacific, $1,613,000 gen. mtge. $2,080,100 pref. and
$2,773,500 com. stock: New Orleans & North Eastern, $5,595,000 gen.
mtge., $1,500,000 incomes aad $5,336,300 stock: Southwestern Construc­
tion Co.. $448,700 stock: Railroad Lands Co., $108,850 (of $120,000) stock
COUPON PAID— For: ’95, ’96. ’97. ’98. ’99. ’00. ’01. ’02 to ’ l l . T5.
•R” (incom es).................% l
2«
4 H fl
5
5 5% yrly 5%
--- - 2% 6% yrly 2%
‘ ‘ O” (Incom es)_________ % - - - EARNINGS.— In cal. year 1914 net from Investments was $149,245;
paid geoeral expenses (£4,870), Income tax (£15,680). Interest on “ A” de­
bentures (£35.180), on "B ” debentures 5% (£49.325). on ” C" debentures.
5% paid Dec 1914 (£37,409 ; sinking fund to extinguish debenturo discount,
«4.600: brought in from 1913, £4.254: balance, surplus. £8,508.— (V'. 99;
p. 1051. 1908; V. 100, p. 900; V. 102. p. 885.)




n o t ic e

3,500,000

10 .000.000

When
Payable
J & D
J & J
J & D
F A A
J A J
J A D
J & D
.r A
J
J Sc D

A
A
A

12K J
3H Z A

A

A

A
&
&
&
&

N
O
O
o
J
S
N

\ early
A
o
A o
A o
A
A

June 1 1942
July 1 1930
June 29 T 6 . 4
Aug 28 ’ 16, 4%
Deo l 1927
Deo 11927
Dec 1 1943
July 16-Julv T9
To Juno 1 1926

U S Mtge A Tr Co, N Y
Cleveland Trust Co
Checks mailed
do
do
Farm L & Tr. N Y: A B
Morgan ,G renf&Co,Lon
Now York
Empire Trust Co. N Y
do
do

Moh T4. 4H % London

Maroh
M
A
A
A
J
M
M

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

Nov 11940
Nov 11940
Oct 1 1956
Apr 1 1956
Jan 1 1935
Sept 1 1935
May 1 1943
1916-18
Sept 4 1915 5%
Apr 1 1921
Apr l 1921
Apr 11921

Olvn, Mills. C A Co. Lon
2Vh% for year 1915
Oct 1915 not paid
Oct 1915 not paid
Jan 1916 not paid
March 1916 not paid
Nov 1915 not paid
Central Trust Co, N Y
do
do
do
do
do
do

J Julyl ’ 16,4H % Del A nudson Co, N Y
do
do
,
o Apr 1 1946

ALABAMA TE NNE SS EE & N O R T H E R N R Y . — Operates from M obile,
Ala., on Gulf of Mexico, where extensive terminals are owned, to Reform,
Ala., on the Mobile & Ohio, about 225 miles, including about 25 mlloa or
trackage. A consolidation In April 1913. In Nov. 1915 Pres. John T .
Cochrane of Mobile and M . W. Thompson of N. Y . wore appointed re­
ceivers. In Mar. 1916 all coupons beginning with Oct. 1915 wore
in default. Tho outstanding obligations are said to includo with $3,882,000
bonds, $1,235,000 notes and $180,000 car trusts.
Equipment notes includo $140,000 5s Issued by Ala. Tenn. & Nor. R R .,
duo $10,000 somi-ann. from May 1 1915 to May 1 1922 Incl.
Committee for the 4 Underlying Bond Issues.— Chairman, Goorgo C. Van
Tuyl Jr.; Sec., Chellis A. Austin, 60 Broadway, Now York. Depositary,
Metropolitan Trust Co., N. Y. V. 102, p. 1058.
Second Noteholders’ Committee.— Chairman, F. N . B. Closo; Sec., Graham
Adams, 30 Broad St. Depositary, Bankors Tr. C o .,N . Y . V. 102,p. 1058.
E A R N IN G S — 10 mos., (1915-16...........Gross, $421,033; not, $124,899
July 1 to Apr. 30.
\1914-15...........Gross, 321,723; net,
70.435
EARNINGS.— For year ending June 30 1915. gross, $413,134: not,
$112,625; charges. $200,399: bal., def., $87,774. In 1913-14. gross. $472,­
012; not, $200,161.— (V.T01, p. 1271, 1895; V . 102, p. 1058.)
ALABAMA & VICKSBURG RY.— Owns Vicksburg to Meridian, Miss,
and branch, 143 miles. Controlled by Alabama New Orl. Texas & Pao.
DIVIDENDS.— 1890 to 1892, 3% yearly; 1896, 3 % : 1897 to 1899, 5%l
1900 to 1902, 6 % yearly; 1903, 9% : 1904 to 1914, 7% yearly; 1915, 5 % .
Stock dividend, 50% , In 1900 and 100% in 1910.
BONDS.— $1,000,000 consols are held to retire Vicks. & Meridian firsts.
EARNINGS.— 10 mos., (1915-16___ Gross, $1,401,985; net, $245,183
July 1 to Apr. 30.
\1914-15___ Gross, 1,245,026; not,
62,167
REPO RT.— Fiscal year ends June 30. ltoport V. 101, p. 1549.
Years—
Gross.
Net Inc. Int.,& c. Bal.. Sur.
Dividend.
1914-15..........$1,493,067 $361,649 $125,439 $236,210 (5%)$105,000
1913-14_____ 1.869.650 322.892
123,574
199,318 (7% ) 147,000
— (V. 97. p. 1285. 1499; V. 99, p. 1298, 1666; V. 101, p. 922, 1549.)
A LBA NY & SUSQUEHANNA R R . — {See Map Delaware A H u d s o n . ) —
ROAD.— Owns Albany to Binghamton, N. Y .. 142 miles.
LEASED for term of charter, viz., 150 years from April 19 1851, to Del. &
Hudson Co.: rental was 9% per annum on stock (see guaranty, V. 56, p
774), but the courts having held that the stock Is entitled to tho benefit of
refunding eilected In 1906. $120,750 additional rental Is paid In Jan.
yearly, beginning 1910. making 3.45% available for extra dividends on
tho stock; in Jan. 1914 and 1915 20 cents was deducted for company’s
Federal income tax. A special dividend of 30% ($1,050,000) was paid
Nov. 16 1909 from tho proceeds of the Judgment for back rentals duo by
reason of refunding. A special dividend of 3 H % was paid Jan. 10 1916.
V. 89. p. 1141, 1666; V. 90. p. 913.
BONDS.— The bonds are guar. p. & I., and until April 1 1916 converti­
ble Into D . & H. stock— $500 stock for $1,000 bonds. Of the bonds $3.­
556,000 wore so converted.
V .8 0 , p . 1174, 1 3 6 2 ,2 3 4 3 . Form of guaranty.
V. 82, p. 989.
Pres., Arthur W. Butler; V.-Pres., Geo. Welwood Murray; Sec. Sc Troas.,
W. L. M . Phelps: Asst. Sec. Sc Treas.. O. F. Coanoy.— (V. 97. p. 1820.)
ALBANY & VERMONT RR.— Owns road from Albany to Waterford Jet.,
N Y.. 12 miles. Leased to Rensselaer & Saratoga In 1860 and now oper­
ated by Delaware & Hudson Co. Annual rental, $20,000.
ALBERTA & GREAT W ATERW AYS R Y .— Seo p. 199.

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RAILROAD COMPANIES
iFot abbreviations, &c., see notes on first page\

l?
Albany & Vermont —Stock 3% guaranteed by rental
Alberta & (It Wat— 1st M deb $7,400,000 g gu text .
Aleoma C * H Bav— 1st M ft gu red 105 textUsm xo»
2d M g $3,240,000 (V 99, p 536, 1213)---------- Usm
Alg Cen Terminals 1st M g gu rd 105------Usm.xc*
Equip bonds (A. 11, C ), due $107,500 yrly red ----- x
Algoma East Ry— Man A NoSh 1st M g gu red IJsnizo*
Sup Rolling Stk equip bds ser D due $20,000 vrly.x
62
Allegheny A Western—Stock $3,500,000) g u a r------62
First M $2,500,000 gold guar p & 1 (enu,_ -U.xe*
Allegheny Valley— See Pennsylvania RR
3
Allentown Terminal— 1st M guar p & t (end* g . .Ce.xo*
12
Amador Central—1st M gold (2% a t began 1913) . - z
292
Ann Arbor— First mtge $7,000,000 gold____ Mp.xc*
Itnpt and ext M $ 10 ,000,000 gold.............. ............. x
mE
3-year notes $1,000,000 ----Equip bonds, ser A gold due $33.1X10 semi-anu.Bax
do ser B g due $30,000 s-a red 102 A (V 92.p 59)XC
102
Apalachicola Northern RR— First mtge $2,000,000 g124
Arizona Eastern— Gila Vail Gl & N 1st M g gu ,*Ap z
187
First refunding M s f ______________________F.c*Ar
5214
Arkansas & Louisiana Midland Ry— 1st M not...
Ark & Diem Ry & Bdge— 1st M $7,500,000 g ----- U
Guar Secured gold notes: all callable at par — Bax
Asheville & Spartanburg—See Southern Ry, Carolina Dlv.
Ashland Coal & Iron R y.—Stock........ .........................
Atch Top & Santa Fe R y—Stock, com $250.000.000..
Stock pref $131,486,000 5% non-cum......................
Adjust Inc M cum since July 1 1900 g
do do Interest stamped payable M f
Eastern Oklahoma Dlv 1st M $10,000,000
TransconSL IstM *30.000,000 g red 110.*1
3
2

Date
B onds

Par




A m ou n t
O utstanding

V alue

$400,000
$100
1909
l.tXK) 7.400.000
1910
£100 10.080.000
1 ,000.000
1914 $£
1912 £100 &c £1.028.709
$519,000
’ 11-12 $. £ . Ac
2.500.000
1911 $. £. Ac
120,000
1912 $, £ , &c
$100 $3,200,000
1.000 2 ,000.000
1898
1889
1908
1895
1911
1916
1909
1911
1905
1894
1910
1915
1915

22

1900
1898

439
8,540
8,546
8,516
479
693
106

1887
1895
1895
1895
1903
1908
1915
1905
1907

1.000

Rate

%
6

6 (f
6g
6g
6g
0g

5 g
6g
6K
4g
4
5
4
5

1.000
1,000
1,000
1,000 &c

l.lMX)

450.000
300.000
7.000.000
See text
750,000
231,000
300.000
2 ,000,000
1,492.000
9,155.000

200,000

5g
6g
5 g
5g
5
6g

1,000

5.000,000

6g

500

1,000
1,000

6

g
g
g
g

773,500 See text
300,000
4g
1,000
374.000
4g
1.000
100 214,001,000 0 in 1915
100 124.199,470 5 In 1915
560,000
5g
1.000 Ac
4g
500 Ac 150.634,500
4g
600 Ac 11,233.000
4g
500 Ac 40,113.000
4g
9.60.3.000
1,000 Ac
4 ft
1.000 Ar See Text
4
g
l .000 &c 3.000,000
4g
1,000 Ac 10,756.000
5g
1.000 Ac 8.747.000
50

ALGOMA CENTRAL ffc HUDSON BAY R Y .— Owns from Sault SteMarie, Ont., and Michlptcoten Harbor to a connection with the Can. North­
ern R y.. 272 miles: branch to Helen Mine, 12 m.; extension to Hearst on
Grand Trunk Pacific R y., 50 miles, completed Sept. 1914: total 334 miles.
V .95,p.748. 1540: V. 99, p. 814. Cash subsidy, $6,400 per mile. Land
grant. 2,137,144 acres. The coupons due Dec. 1 1914 on the 1st 5s were
defaulted. V. 99. p. 1671: V. 101. p. 772. In Mar. 1915 Vivian IIarcourt
of Montreal and T . J. Kennedy were appointed receivers o f the Alg. Cent.
& Hudson Bay R y. and in June 1915 D. M . McClelland was named receiver
o f the Algoraa Central Terminals. Receivers’ certs., $500,000. See V.
101, p .922 . V. 100. p. 810, 2166. V. 102 , p. 607.
, , , ^
Owns stock and leases for 999 years Algoma Central Terminals, Ltd.,
rental covering Interest and from July 1918 1% sinking fund on 1st M .; the
bonds are guaranteed, prln. & int., by Lake Superior Corp. Present Issue
(limited to $5,000,000) Is secured ou terminal properties and on $900,000
1st M . 5% bonds and $99,300 stock of Algoma Eastern Terminals. Ltd.
V. 95. p. 1540: V. 96. p. 651. 1020, 1491; V. 99. p. 268, 536. The rental not
being paid, the lnt. duo Feb. 1 1915 was defaulted. V. 100, p. 732.
PLAN.— In Juno 1916 substantially the following plan (V. 102, p. 885,
1058, 2076) had boon authorized by the Canadian Parliament and by the
1st M . bondholders of this company and the Algoma Central Terminals,
Ltd., and was then effective (Bank o f Montreal, depositary):
(1) A bondholders’ committee, including C. B. N. Smlth-Binghain and
J. C. Dalton, for tho Railway bonds, and A. F. P. Roger and Androw
Williamson for tho Terminals bonds, and one or more others to oxorciso
the voting power upon tho common stock of both companies and also for
tho conversion o f the 2d M . bonds of the Railway into Income bonds until
tho principal and interest o f all tho 1 st M . bonds shall havo been paid in full.
(2) The intorest on tho Railway bonds from June 1 1914, and interest and
sinking fund on tho Terminals bonds to be paid only if and to tho oxtont
that tho Joint net earnings available for the purpose permit (oxcept as indi­
cated below), but the interest to bo cumulative up to 5% , with right to
6 % per annum, if earned, in tho following priority (a) Terminals bonds for
current and all prior years 3 % p. a., said payment, however, to bo a fixed
obligation for tho periods from Aug. 1 1914 to Aug. 1 1915. payable forth­
with, and also in each year aftor Aug. I 1921. (6) Both issues pari passu
as though one issue, 2% . (c) Railway bonds, 3% . (d) Any arrears up to
6% ou either issue, (e) Terminals sinking fund. (/) Railway bonds, 1%
and Terminals bonds, A o f 1% . While tho guaranty of the Lake Superior
Corporation will remain, tho bondholders’ committee will alone havo the
right to enforce it.
,,
(3) Reducing oxlsting pref. stock o f tho Railway. $5,000,000 outstanding,
by 60% (i. o., each share to $40 par value), and creating a now class of
$3,000,000 5% non-cum. prof, shares o f $40 par value, equal to 60% of
present issue, having similar rights, to bo issued as fully paid to tho bond­
holders’ committee in consideration of tho Railway and Terminals bond­
holders consenting to this scheme, the stock to bo distributed 75% to tho
Railway bondholders and 25% to tho Terminals bondholders pari passu.
Provided that In lieu o f distribution tho committee may causo tho shares
to be vested in a trustee or trustees and distribute certificates thereunder.
Stock, common, $5,000,000, all owned by Lake Superior Corporation.
Is tM . bonds soo V. 91, p. 93, 1159. 1327, 1573: V. 97, p. 666. Equipment
bonds, V. 92, p. 1635: V. 94, p. 1382. Report yoar ending Juno 30 1914
(inch steamship line), in V. 99, p. 1666: Gross, $957,399: not, $234,185;
other ineomo, $40,615; int. and rentals, $522,753; bal., dof., $247,953.
Pres., Thomas J. Kennedy: Soc., Alox. Taylor, Toronto: Treas., R.
Barber, Sault Sto. Mario, Ont.— (V. 102, p. 1058, 1249, 1539, 2076.)
ALGOMA EASTERN R Y .— Owns from Sudbury. Ont., to Little Cur
rent (Manitoulin Island) through nickel and copper districts, 86 m.. com­
pleted Jan. I 1913; branches. 3 m. Land grant 682,692 acres In Ontario
and cash subsidies from Prov. and Dom. of Can. V. 92, p. 265; V. 95, p.748.
Leases for 999 years Algoma Eastern Terminals, Ltd., rental covering lnt.
and sink, fund on $900,000 1st M . 5% bonds. See Algoma Central Ter­
; minals. Ltd., mtge., under Algoma Central & Hudson Bay Ry. above.
Common stock. $2,000,000. all issued, and pref. 5% non-cum., $1,000.­
000, all issued, all owned by Lake Superior Corporation. Bonds (Man. &
1 No. Shore R y.) auth., $3,000,000, Issuable at $30,000 per mile, guaranteed,
prln. Sc lnt., by Lake Superior Corp. They are subject to call as a whole
at par or may be drawn at 105 from subsidies or the proceeds of land sales.
V. 92. p. 396. 462, 527. 1032; V. 93. p. 227. 406: V. 94. p. 1382.
Report for yoar ending June 30 1914, In V. 99, p. 1906, showed gross,
$483,169; net, $73,110; other income, $7; lnt .and rentals, $60,467: bal., sur.,
$12,050. I’ rcs.. T. J. Kennedy; Sec., Alex. Taylor. Toronto; Treas., I. L.
Godfrey, Sault Sto. Mario.— (v . 101. p. 922.)
ALLEGHENY & WESTERN RY.— (See Map Buff. Roch. A. Pitts.)Punxsutawney to Butler, Pa., 60 ra. andbr. 2in. An extension of BuIT. Roch.
A Pittso., to which leased in perpetuity for guaranty of bonds and 6 % on
stock. Uses Balt. A Ohio from Butler to New Castle and Pittsburgh under a
trackage arrangement, making In all 144 m. V. 70. p. 849.— (V. 82. p. 691.)
ALLENTOWN RR.—Topton to Kutztown, Pa.. 4.39 m. Stock, $1,268.­
384 (par $50). lncl. $1,071,400 pledged under Reading Co. gen.M. No bonds.
ALLENTOWN TERMINAL RR.— Owns 2.91 miles of railroad In Allen­
town. Pa., connecting the East Penn. (Phila. & Reading) with the Cent of
N. J. Leased for 999 years to Phila. A Read, and Cent, of N. J. (by assign­
ment from Lehigh Coal A Navigation Co.) at Interest on bonds and 5% on
5450,000 stock (par $50), and taxes, bonds being guar., prln, and Intorest,
by Phila. A Read. RR. Co. (foreclosed) and Lehigh Coal & Navigation
AM ADOR CENTRAL RR.— Tone to Martell. Cal.. 12 m. Stock. $100,000:
ar, $100. Mortgage, see V. 88. p. 156. Year end. June 30 1915, gross,
95.398: not, $29,176; lnt.. $15,000; additions. &c.. $6,448: bal.. sur.. $7.­
729. Divs. 1911-12, 6 2-3%, $25,000 from accum. surplus. None sinco.
Pres., Meta J. Erickson, San Francisco.— (V. 88 , p. 156.)
ANN ARBOR RR,— Owns from Toledo. O., to Frankfort,on Laker Mich.,
292 miles; operates car ferries between Frankfort, M ich., Kewaunee and
Manitowoc, WIs., and Menominee and Maniatlque. Mich. Wabash and

f

[Vol. 102.

RAILWAY STOCKS AND BONDS
ill
ug

6

W hen
P ayable

Last D ividend
and M a tu rity

Places Where Interest one
Dividends are Payable

M A INM ay 15 19161 >5 Trey. N V
J A J Jan 1 1959
See text
J A r> June 1 1900
do
M & s Sept 1 1964
do
F & A Aug 1962
Various T o May 15 1922 Maitland.Coppoll&CoNY
Bk of Mont, Lon A N Y
M A S Mch 1 1961
M A N15 To May 15 1922 Maitland,Coppell&Co,
J A J July 1 lOtfi 3% A Iselln A Co. New York
do
do
A A 0 Oct 1 1998
J A J July 1 1919
M A N Nov 21938
Q—J July 1 1995
M A N May 1 1941
M & N May 1 1919
M A N To Nov 1 1919
J A J To Jan 1 1921
M & S Sept 51925
M A N Nov 1 1924
M & N May 1 1950
J & D Dee 11 1921
Mar 1 1964
J & J Jan 1 1918
Q —M Mar 25 ’ 16 1%
M A N May 1 1925
J A J July 1 1928
Q—M Juno 1 ’ 16 \'A%
F A A Aug 1 1916 2 A
J A .1 Jan 1 1937
A A O Oct 1 1995
Nov
July 1 1995
M A N July 1 1995
M A S Mch 1 1928
J
J July l 1958
J & J Jan 1 1965
J A D June 1 1956
J A I) June 1 1917

Union Tr Co, San Fran
Metropolitan Tr Co, N Y
Empire Trust Co, N v
Empire Trust Co, N Y
Hankers Tr Co, N Y
Empire Trust Co. N Y
March 1913 coup last pd
So Pac Co 165 Bway N Y
do
do
Chic, Cont & ComTr&SB
N Y.

See Blair & Co

Check from Co’s office
New York Trust Co. N Y
Central Trust Co, N Y
Checks mailed from N Y
do
do
5 Nassau Street. N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

Pere Marquotto use Toledo terminals. Rato docision March 1916. V. 102,
p. 1162.
Entire cap. stook of Mantstlque A Lake Superior, Manlstlque. Mich., to
Ivelyn, 42 m. (with branch, 13 m.) was purchased In 1911. V. 92, p. 1108.
STOCK.. &c.— Common. $3,250,000: pref.. $4,000,000: 5% non-cum.,
jar $100. Prat, stook cert., see Issue Oct. 30 1897, p. 3.
V. 94, p. 205.
The Ann* Arbor Co. was Incorporated Jan. 5 1911 as a holding company
vlth $7,250.0<d0 auth. stock, of which $4,000,000 pref. and $3,259,000
common (par $100), the stock being ofTered. share for share, for the Ann
Arbor R R , stock. In *April 1911 $2,971,900 pref. and $2,158,200 com.
had been exchanged. V. 92, p. 59. 116. 321.
BONDS.— In April 1916 $750,000 6 % notes wero sold, secured by de­
posit of $1,500,000 Impt. and Extension 5% bonds (of an issue limited to
$10,000,000) and a first Uon on shops and 470 steel underframe box cars,
and all other property acquired with proceeds of bonds, and a socond lion
on ontiro road, with all other equipment. &c. Proceeds to be used for re­
funding $556,000 old notes and improvements. V. 102, p. 1624.
E ARN ING S.— 10 mos., 11915-16_____Gross, $2,206,379; not, $598,745
July 1 to Apr. 30.
\1914-15____ Gross, 1,929,829: net, 422,522
ANNUAL REPORT for 1914-15 was In V. 101. p. 1802.
1911-12.
1913-14
Year ending June 30— 1914-15.
'A
'1912-13.
° 'n
$2,294,466 $2,072,697 $2,120,384
Gross earnings___ $2,310,902
525,430
461,511
473,038
Not, after taxes.--520,123
523,649
576,656
499,761
Net Income______
654,414
396.372
418.767
368,307
Int.. hire equip., & c._
453,657
Balance, surplus. $100,757
$80,994
$155,342$180,284
DIRECTORS.— Newman Erb, II. I. Millsr, J. S. Bacho, F. K . Curtis,
A. W. Towsloy. W . J Wollman. W . M . Wadden. E. S. Lyon and Fred­
erics Hernonsteln. Pres., Newman Erb: V.-P. & Gen. M g r .,A .W .
Towsloy; V .-P ., W. M . Wadden; Treas., W . M . Wadden; Sec., II. B.
Blanchard.— (V. 102. p. 1162, 1539. 1624.)
APALACHICOLA NORTHERN RR. See page 00.
ARIZONA EASTERN R R .— Owns Maricopa to Hassayampa. Ariz.,
74 miles; Bowie to Miami, Ariz., 134 m.; Cochise to Gleoson. 35 in.; Tempo
to Mesa, 8 m.; other, 23 m.; leases Phoenix, Ariz.. to Winkolman. 92 rn.;
other, 1 m.: total, $366 miles. A consolidation In 1910, Including Gila Val­
ley Globe & Northern, &c. V. 90, p. 446. Stock auth., $40,000,000,
o f which $9,000,000 outstanding Juno 30 1916,$8.999100 owned by South.
Pacific Co.; with $4,171,000 of the $9,155,000 outstanding first ref.
5s, The remainder of the bonds are held In sinking funds of proprietary
companies. In 1914-15. gross, $2,200,787; not, aftor taxes, $671,370; other
income, $57,141; charges, $881,106; bal., dof., $152,595.— (V .95, p. 1471.)
ARKANSAS & LOUISIANA MIDLAND R Y .— Seo page 199.
ARKANSAS & MEMPHIS RAILW AY. BRIDGE & TERMINAL CO.
— Has undor construction a double-track bridgo (with wagon-way) across
tho Mississippi River at Memphis, Tonn., to oe complotod in July 1916,
costing $5,000,000. Stock auth., $100,000. of which $10,200 is paid in,
equally owned by tho St. Louis Southwest. Ity., Chic. R. I . & Pac. Ry. and
St. Louis Iron Mtn. & Southern R y., which use tho road undor a 50-yoar
operating agreement. These roads and also (acting under order of Court)
the receivers o f the two companies last named, jointly and severally guar­
antee for themselves and the receivers for any companies succeeding them,
both the 1st M. bonds and also the 3-year gold notes (secured by plodgo of
$6,000,000 of the bonds), prin. & Int., by endorsement. Tho notes aro
limited to $5,000,000 and are callable as a whole at par and int. Of the
87.500,000 1st M . bonds. $6,000,000 aro pledged to secure tho notes and
$1,500,000 aro available for further capital outlays under restrictions.
Also owns in fee (but subject to tho mtgo. thereon of tho Rock Island

Co. (which has the right of user for a term of yoars (V. 99, p. 1833), with
storago tracks and various terminal facilities, that tho Arkansas & Memphis
Ry. Bridge & Terminal Co. and the guarantors may obtain right to uso
upon fair terms. V. 102. p. 711, 799. Pros., A. C. Rtdgway, 902 La Salle
St. Station. Chicago.— (V. 101, p. 1712; V. 102, p. 711, 799.)
ASHLAND COAL & IRON R Y — (V. 99, p. 814.)
ATCHISON & EASTERN BRIDGE.— Owns railroad and wagon bridge
at Atchison. Kan., connecting with the union station. Used by the Atch.
Top. A Santa Fe, the Chic. R. I. A P.. the Mo. Pac. and the Chic. Burl. A
Quincy. Stook. $700,000: par. $100 per share. Pres, and Treas., H. P.
Eells, Cleveland. O.— V. 67, p. 578.)
(THE) ATCHISON TOPEKA & SANTA FE R Y .— (See M ap.)—
System July 1 1915 comprised 11,136 miles of railroad and embraced
an unbroken line of track from Chicago, 111., via Kansas City, Mo., and Al­
buquerque. N. M., to the Pacific Ocean; also to Galveston, Tex., and the
Gulf of Mexico. For operating purposes the 11.136 m.wore divided as follows
Atchison Topeka & S. F ----- 8,513.48 |Gulf Colorado A Santa F e . . 1,937.71
Rio Grande A El Paso___ .
20.221 Panhandle & Santa Fo......... 665.02
This Is exclusive of 25 70 miles of new lines completed on last-named
date. Also controls, through ownership of securities or purchase contract
other lines aggregating 228.92 miles, and, Jointly with other cos., 606. 8 m.
In April 1915 tho St. Louis Rocky M t. & Pacific R y., extending from Das
Moines. N. M ., west to Raton, with branches, 106 miles, was purchased for
$3,000.000 Rocky Mtn. Dlv. 1st M . 50-yr. 4s (secured on tho road pur­
chased). See V. 97. p. 363. 442; V. 95, p. 543. 1771; V. 97, p. 666; V. 100.
in ujo’o acquired control of Gulf Beaumont & Kansas City and Gulf Beau
mont & Great Northern, which are leased by Gulf Colorado & Santa Fe,
lessee also of Cano Belt R R .. &c. V. 76, p. 761; V. 77, p. 1224. On July 1
1914 the Gulf & Inter-State, Concho San Saba & Llano Valley, Texas Sc

June, 191G.j




RAILWAY STOCKS AND BONDS

7

RAILWAY STOCKS AND BONDS

8
R A IL R O A D

C O M P A N IE S .
ir s t p a g e .]

1F o r a b b r e v i a t i o n s , & c . , s e e n o t e s o n

A tchison Topeka & Santa Fe Ry (C o n .)—
Bonds $28,258,000 g conv com stk red(tex) G.xc* Ar
Bds 543,686,000 g conv com stk red(text) G.xc* Ar*
Hutchln A So 1st M g red 105 since 1908.-OB.zo*
San Fr & San Jo Val 1st M g call 110 aft 1915. Ba.zc
Santa Fe Pres & Phoenix— 1st M_________ g Ba.zc*
Pres & E 1st M guar________ ______________ Ce.zc*
Cal-Ar L IstAref .VI 550,000,000 g red llO.G.xo* Ar*
Athens Terminal Co— 1st M gold redeem 105-.N .xc*
Atl Birm & Atl— Atl A B 1st M red 110___ OB.xc*
First A Iter M $15,000,000 g o l d .................................
A tlanta & C harlotte Air Line— Stock (see text) —
1st M $20,000,000 ($5,500,000 ser A 4 **) Ce.yc*Ar*
Atlanta Knoxville & Northern Rv—See Louisville & N
Atl & S t And Bay— 1st M $500,000 g red par____c*
Second mtge ($500,000 authorized)_______________
Atlanta Terminal— First mtge 51.500.000 g. . (1.xo* Ar
Atlanta & West Point— Stock $2,500,000 auth______
Atlantic City— First Mtge $2,200,000 gold.-GuP.xo*
Atlantic City purchase money real estate mtge.GPx
Sea Coast prior Hen mortgage gold____________ _x
1st cons M $4,500,000 gold guar______________GPx
Atlantic Coast Line Co (Conn)— Stock (see text)___
Certfs of lndebt lno non-cum $5,OOO.OOO..SBa,zr
do Class B red 105 after Nov 1920(V 89,pl666)z
do redeemable at par since 1910...... ............... z
Atlantic Coast Line RR—Stock common (text)______
Class “ A " com stock tax exempt (Rich A Pet certfs)
Preferred stock 5% (V. 75. p. 1252).........................
Coll tr M gold secured by L AN stk red 105.xc*Ar*
Unified mortgage gold (closed)___________ xc*Ar*
Gen unified Mg. ($100,000 are 4 s )______ Us.c*Ar*

M ile s
R oad

D a te
B onds

Par
V a lu e

A m oun t
O u t s ta n d in g

1909 $ 1 ,0 0 0 Ac $1,615,000
__ 1910 1,000 Ac 14,653,000
141 1898
1.0 0 0
192,000
1 .0 0 0
375 1898
6 .0 0 0 .0 0 0
195 1892
1 .0 0 0
4.940.000
224,000
26 1898
1 ,0 0 0
$ & £ 18,442,839
834 1912
1907
1 .0 0 0
2 0 0 ,0 0 0
337 1901
1 ,0 0 0
4,090.000
634 1915
1915
5,165,787
263
1,700.000
10 0
263 1914 1 ,0 0 0 &c 16,000,000
ashvlll e
82 1908
1 ,0 0 0
425.000
82 1914
425,000
5.32 1903
1 ,0 0 0
1,500,000
93
10 0
2.463,600
83 1889
1 ,0 0 0
2 .2 0 0 ,0 0 0
1900
1 .0 0 0
75,000
66 1898
350,000
All
1901
1 ,0 0 0
1,851,000
50 8,820.000
__ 1897
100 Ac
5.000,000
1900
100 Ac
61,800
1905
100 Ac 3,000.000
__
10 0 67,558.000
10 0
1 ,0 0 0 .0 0 0
10 0
196,700
1902 1,000 Ac 35,000,000
4,308 1909
1 .0 0 0
174,000
4,348 1914 1 ,0 0 0 Ac al4.542.500

R a te

%

[Vol. 102

W h en
P a y a b le

4g J
4g J
5g J
5g
A
5g M
A
5g
4 ** g M
5g J
5g J

L a s t D iv id e n d
and M a tu r ity

r> June 1 1955
r> June 1 1960
j Jan 1 1928
A o Oot 1 1940
A s Sept 1 1942
A
o Apr 11928
A
s Mch 1 1962
A J July 1 1937
& J Jan 1 1934
A
A
A

5
M A
9
4** A 5 J &

5 Nassau Street, N Y
do
do
do
do
do
do
do
do
do
do
do
do
New York Trust Co, N Y
Old Colony Trust Co, Bot

Nov 1 1930
s Mar 1916 434% U S Mtge A Tr Co. N Y
Central Trust C o, N Y
J July 1 1944

A <v o Oct 1 1938
J
J
4 g J <5g n June 1 1953
6 In 1915 J
A ,TJan 1 1916 3%
5 g M A N May 11919
4** A A O Apr l 1930
5 g A & o Apr 1 1948
4 g ,T A J July 1 1951
12 In '15 Q— M Juno 10 '16 3%
5 cur J A n Irredeemable
4
J A ,r
4
J
A
j Jan 1 1925
5 In 1916 J A j July’ 10 19162**
5 in 1916 J & j July’10 19162**
5 In 1915 M A N May 10 1916 2**
4 g M 4^ N Oct 1 1952
4 g J A r> Bee 1 1959
4** A 4 J & D June 11964
6 g
6

P la c e s W h e r e In t e r e s t a n n
D iv id e n d s a re P a y a b le

AtlantaConBkATr Corp
Guaranty Trust Co. N Y
Atlanta, Ga
Reading Terminal, Phila
do
do
do
do
Baltimore
Juno 1916 paid 2**%
Jan 1916 paid 2%
Jan 1916 paid 2%
Treas Office. Wllm. N O
do
do
do
do
J P Morgan A Co, N Y
United States Tr Co, N Y
do
do

a Some $18,499,000 In treasury at last advlc es.

Gulf and the Pecos & Northern Texas south of Sweetwater were leased to
the Gulf Colorado & Santa Fe Ity. In May 1915 purchased roads to extend
Into Cushing, Okla., oil fields, 27 miles, and In Aug. 1915 the CrosbytonSouth Plains R R ., Crosbyton, Tex., to Lubbock, 38 miles.— V. 100, p.
613. 845. 1671.
The Oklahoma Central R R ., Lehigh, Okla., to Chlckasha, 133 miles. Is
leased for 5 years from Aug. 1 1914, with privilege of renewal for 5 years,
and an option to purchaso the $1,500,000 stock and $1,500,000 income
bonds. V. 98. p. 1844; V. 99, p. 406; V. 101, p. 845.
ORGANIZATION.— Organized Dec. 12 1895 under laws o f Kansas, as
successor o f Atch. Top. & S. Fe R R . C o., foreclosed. V. 60. p. 658.
The railway company In July 1915 owned In fee 8,198.05 miles of system,
and also all, or nearly all, the bonds and stocks of the other companies.
Has a Joint Interest with the Southern Pacific In the Northwestern Paclflo.
STOCK.—The preferred stock has preference as to assets and non-cumulatlve dividends not exceeding 5% per ann., as declared by the board of dl
rectors out of net profits. No other mtgo. and no Increase In the pref. stock
can be made without consent of majority of all pref. outstanding and of all
com. stock represented at a meeting. The total auth. amount of pref. is
$131,486,000. Pref. stock certlfs. in “ Supplement” of April 1897, page 3.
In Nov. 1915 $10,000,000 pref. stock was sold to largo Investment inter­
ests, making $124,173,700 outstanding. V. 101, p. 1806. 2143.
D1VS.— ’00. ’01. '02-'05. ’06. '07.’ 08. *09. ’ 10 t o ’ 14. ’ 15. 1916.
Com. (% )_ .0
3** 4 yrly. 4** 6
5 5H
6 yrly.
6 1 H .1 H ,-,Pref. f% )— 4
5
5 yrly.
5
5 5
5 yrly.
5 2 H .2 * * .-.BONDS.— The Gen. Mort. (Abstract V. 62. p. 731-739; see also V. 6 8 .
p. 974: V. 8 6 , p. 1098) gives a lien, either by direct mortgage or by collateta)
trust, on 8,546-35 m. of the system, with equip., terminals, &c.
Tho unissued Gen. M . 4s were in 1914 reserved as follows: To retire under­
lying bonds, $2,004,960; for impts., &c., $1,852,102; acquisitions of other
lines, $6,731,554; no longer available $2,339,383.
Adjust. ( I n c o m e ) Mtae. abstract, V. 62, p. 739. Int. payable only If
earned up to 4% In each year, cumulative. Present Issuo limited to $51,­
728,000, hut when the $30,000,000 gen. 4s auth. for improvements as above
have been Issued, $2O,O00,OOO additional adjustment 4s may be Issued for
the same purpose at not exceeding $2,000,000 In any one year, but only by
a majority vote of the adjustment bondholders. Interest— In Nov. 1897
paid 3% ; since, full 4% yearly.
Eastern Oklahoma division 4s of 1903. V. 76, p. 434; V. 79. p. 1331:
V. 84. p. 1549; V. 85. p. 598: V. 8 6 , p. 980, 1041.
The "Trans-Continental snort Line" first gold 4s of 1908 are limited to
$30,000,000 auth. issue. The $17,000,000 sold In Aug. 1908 covered 693
miles then In operation: the remaining $13,000,000 can b Issued at $25,000
per mile. In June 1915 application was made to Issuo $10,808,000 ad­
ditional. V. 100, p. 2008. Compare Issue Juno 26 1915. V. 87, p. 479, 878.
The 4s of 1905 ($49,711,000 auth. Issue) are convertible Into com. stock
at par till June 1 1918. V. 79, p. 2695; V. 80. p. 649; V. 81. p. 1174;
V. 82 p. 391, 867. Of the $26,056,000 58 Issued In 1907,convertlbleatpar
to Juno 1 1913, $17,309,000 have been exchanged. V.84, p. 1051, 1112;
V. 85, p. 97, 283 . 529. The $28,258,000 4s or 1909 are convertible Into
common stock at par to June 1 1918. V. 8 8 , p. 1435. 1559, The $43,686,­
000 4s of 1910 are convertible into com. stock at par, since June 1 1913,
prior to June 1 1923. V. 90. p. 913, 1043, 1612; V. 92, p. 393, 593, 1700.
The several Issues of convertibles must be secured by any future mtge.
covering the lines owned at time the convertible Issue was made, and may
be called at 1 1 0 on any Interest day, but when called may be converted
Into stock provided the. time for conversion has not expired.
The Callfornla-Arlzona Lines 1st and ref. mtge. of 1912 ($50,000,000 auth
Issue, of which $18,442,839 4**s are outstanding covers 834 mllos of
road, Including tho line from Needles to Mojavo, 242 miles, which was
acquired from the Southern Pacific Co., on which there are outstanding
$4,127,500 Sou. Pac. bonds due Nov. 1 1937. The latter also cover over
1,000 mlies of Sou. Pac. Co., which has agreed to Indemnify the Cal. Arlz.
& Santa Fe Ry. against any claim on account thereof.
Of the remaining Cal.-Arlz. bonds, $26,390,161 are Issuable for not
exceeding the actual cash expenditures for betterments. Improvements and
additions on and after Jan. 1 1912 and $5,167,000 are reserved to refund the
underlying bonus, $4,940,000 Santa Fe Prescott A Phoenix 5s. $224,000
Prescott A Eastern 5s and $3,000 on the line from Goffs to Ivanpah, Cal.,
45 miles. V. 94, p 649. 696. 766: V. 95. p. 543.
Of the Rocky Mtn. Dlv. 1st 4s of 1915 (320,000.000 auth. Issue), $3,­
000,000, redeemable at 105, wore issued to purchase the St. Louis Rock
Mth. & Pac. C o., Des Moines to Raton, N.M., &c., 106 miles. The remainder
may be Issued for extensions. V. 100, p. 1593; V. 102, p. 250.
LATEST EARNINGS.— f 1915-16-Gross, $109,860,073; not,$40,959,858
10 mos., July 1 to April 30.\1914-15.Grass, 98,111,698; net, 34,805,503
From July 1 to April 30 taxes, A c., were $5,199,314 in 1916, against
$4,5*16,748 in 1915; operating incomo, $35,760,544, against $30,258,765.
R EPO RT.— Annual meeting fourth Thursday In October. Report for
year ending June 30 1915 was given In V. 101, p. 1180. 1194; edit., p. 1135.
1914-15.
1913-14.
1912-13.
Average miles operated____________
11,115
10,909
10,750
Operating revonues............................ $117,665,587$111,109,7703116,896,252
Operating expenses................................ 76,091,553 73.469,334 77,642,535
Taxes, &c................................................. 5.522,633 5,525,585
4,662,152

OFFICERS.— Chairman of Executive Comm., Walker D. Hines; E. P .
Ripley, President: D. L. Gallup. ConiD.: C. K. Cooper, Asst. Treas.
Directors.— Charles Steele, Edward J. Berwlnd, A. D. Jullllard, H. Rleman Duval, Walker D. Hines, Henry S. Prltchott, Ogdon L. Mills, N. Y .;
T . Do W itt Cuyler, Phila.; 13. P. Cheney, Boston; Homer A. Stillwell,
Edward P. Riploy, Chicago: Andrew C. Jobos, Merriam, Kan.; Howel
Jones, Charles S. Gleed, Topoka; II. C . Frick, Pittsburgh. Offlco, 5
Nassau St., N .Y .— (V. 101, p. 1180, 1194, 1806, 2143; V. 102, p. 250, 344.)
ATHENS TERMINAL CO.— Owns freight terminals and approaches In
Athens, Ga. Stock $25,000, equally owned by Seaboard Air Line and
Gainesville Midland, which agree to pay operating expenses and Interest
oharges In proportion to tonnage use
Bonds ($250,000 auth, issue), see
table above. Pres., W. R. Beauprle, Gainesville. Ga.; Sec. A Treas.,
Gordon C. Carson, New York City.
ATLANTA BIRMINGHAM & ATLANTIC R Y .— Owns Brunswick, Ga..
to Birmingham, Ala., 453 miles; Sessoins to Waycross, Ga.. 25 miles;
Fitzgerald to Thomasvllle, Ga., 81 m.: Atlanta to Manchester, 76 m .;
traekago In Atlanta, A c.. 3 m.; total, 638 miles.
ORGANIZATION.— On Jan. 1 1915 succeeded to foreclosed properties
of the A. B. A A. R R . C o., Georgia Terminal Co. and Alabama Tormlnal
R y ., per plan in V. 101, p. 2143, subject to payment of balance of purchase
prico. Tho $4,476,000 deposited recolvers’ certificates and tho $358,
080 interest theroon, were exchangeable $ for $ for Incomo bonds. Tho
entlro $30,000,000 new capital stock was underwritten at $12 a share by a
syndicate headed by Hayden, Stono & Co. to provide $3,600,000 for dis­
charge o f all equipment obligations (about $1,266,366), also Judgments,
tax loans, &c. V. 102, p. 344, 885.
NEW STOCK.— $30,000,000 in $100 shares.
BONDS.— F ir s t a n d R e fu n d in g B o n d s . — To bo dated Nov. 1 1915 and to
bear such rate o f lnterost, and such date or dates of maturity, not oarller
than Oct. 1 1935, as authorized at timo o f issuance. When Issued will be
a first mortgage on 300 miles of main-lino track and second mortgage on
337 mllos, and upon the terminal properties In Birmingham and Atlanta.
To be issued only (o) to retire, at or boforo maturity, Atlantic A Birming­
ham Ry. $4,090,000 1st 5s due 1934. (6 ) For futuro improvements, oxtensions and acquisitions under restrictions. Nono of thoso fixed interest
bonds, it is understood, will be Issued at present.
F ift e e n - Y e a r 5% In c o m e B o n d s . — To boar non-cumulatlve interest paya­
ble annually or semi-annually at such rate, not exceeding 5% por annum,
as may bo declared by the board. The mortgage provides that net incomo,
as defined by the I.-S. C. Commission, as available for that purpose, shall
bo so declared by tho Board. The board may, however, reserve In
any year from such “ net income" not in excess of 2 0 % thereof,
(but not to exceed $ 10 0 ,0 0 0 In any year), until the total amount so rosorved,
exclusive of Interest, shall reach $300,000. This "Income Bond Reserve
Fund,” carrying interest at 6 % . may bo distributed to tho Incomo bonds
at any time and in any amount, and any balanco at tho maturity of tho
bonds shall bo paid over to tho trustco for tho benofit of tho bondholders.
As to Atlanta A Blrm. R y. $4,090,000 1st M . 5s, soo V. 80, p. 710, 115.
EARNINGS.— Tho average avallablo Incomo for tho threo fiscal years
ended June 30 1915. which included tho first 11 months of the European
war, were $323,569, or about 1.6 times tho fixed chargos ($204,500) or the
new company. The average net earnings for 1913 and 1914 have boon
$454,709. or 2.2 times fixed charges of tho new company. Tho earnings
for the year ending June 30 1915, by reason of the European war, decreased
$742,878, or 21.8%; they havo since, shown a marked Improvement.
EARNINGS.— 10 m os.,/ 1915-16._.Gross, $2,580,470; net. $389,744
July 1 to Apr. 30.
11914-15__ Gross,
2,252,214; not.
130,951
Statem en t o f E a r n in g s (S ee " C h n m ic le " o f F e b . 26 1916, p. 799.)
--------- Y e a r s en d ed J u n e 30--------- — 6 M o s . e n d . D e c .
1914-15.
1913-14.
1912-13.
1915.
1914.
Oper. revenues..$2,656,482 $3,399,360 $3,243,045 $1,573,213 $1,377,653
Net after taxes.. $135,689 $460,365 $402,066
$263,228
$109,265
Mlscell. Income.deb.74.400
25,194
21,793 deb.42,574 deb.33,481

Total avail. In c..
$61,289 $485,559 $423,859
$220,654
$75,784
Tho estimated expenditures In next three yoars for Impts., ballast, 35
miles new 80-lb. rail, A c., aggregate $601,434, vix.: 1916, $193,000; 1917,
$353,434: 1918, $55,000.
Directors : E. T . Lamb, Atlanta, President and Chairman; A. II. W ood­
ward, Woodward, Ala.; Galen L. Stono and Charles F. Ayer, Boston;
Percy R. Pyne, Geo. C. Clark Jr. and Howard Bayno, N. Y . City; Floyd
K. Mays, John K. Ottloy, Moll It. Wilkinson and Brooks Morgan, Atlanta;
E. K. Farmer, Fitzgerald, Ga.; F. D. M . Strachan, Brunswick, Ga.; Elijah
B. Lewis, Montezuma, Ga.; W. C. Vereen, Moultrie, Ga.
Pres., E. T . Lamb, Atlanta, Ga.; V .-P .. Brooks Morgan; Sec. A Treas.,
Floyd K. Mays.— (V. 102, p. 152, 799, 885, 1346, 1986.)
ATLANTA & CHARLOTTE AIR LINE RY. — (S ee M a p S o u th e rn R a ilw a y
S u s te m .) — Owns Charlotte. N. C.. to Armour, Ga., 263 miles.
The stockholders on Juno 2 1914 voted (1) to authorize a first mortgage to
secure an Issue of $2 0 ,0 0 0 ,0 0 0 bonds to bo issued In lettered series and to
bear not over 5 % Int., and (2 ) to modify the operating contract made with
tho Richmond & Danville R R . under which tho dividend to be paid will be
9% yearly without regard to earnings. Instead of a maximum of 7% , de­
pendent upon grass earnings, the Southern Ry. to havo an option to pur­
Operating Income............................. $36,051,401 $32,114,850 $34,591,565 chase the stock on any dividend date at $250 per share In cash. See V. 98,
Other Income.............................
2,997,1502,174.3542.515,624 p. 1458. 1765.1918; V .9 S .p . 1991; V. 99. p. 195.536.608. The $3,500,000
Ser. B 5s were Issued in July 1915 and $7,000,000 Ser. C. 5s in March 1916
Total Income..................................... $39,048,551 $34,289,204 $37,107,189 for double-tracking or improving a part of tho line. In March 1916 it was
Interest on bonds................................. $12,785,747 $12,886,412 .$13,825,325 expected tho work would extend over about two years. V. 102, p. 1058,
Hire of equip., rentals, A c..................... 2,199,391 1,283,034
1,599,960 1162; V. 101. p. 2S6, 368.
Dividends on pref. stock (5 % )_______ 5.708.686 5.708,690
5,708,690 DIVS.— 11881 to '89. 1890 '91 to M a r . '01. S e p t . '01 to M a r . '14. S in c e .
Dividends on com. stock ( 6 % )............ 11.841,330 11,691,750 10,398,780 Per
cent. | 5 yearly.
5**
6 yearly.
7 yearly.
9 yrly.
Additions and betterments................... 6,513,397 '2,719.318
5,574,434
Year ending Juno 30 1915, $5,053,842; not, after taxes, $1,962,927; other
income, $15,790; int., A c., $1,055,025; dlvs. (9% ), $153,000; additions.
Balance, surplus___________________
None
None
None




RAILWAY STOCKS AND BONDS

Ju n e , 1916.

R A IL R O A D C O M P A N IE S .
[F o r a b b re v ia tio n s , & c ., see notes on f i r s t p a g e.]

M ile s
R oad

D a te
B onds

Par
V a lu e

$ 10 0 &c

...

1909
1902
1907
1911

Atl Coast Line RR (Concl) —

Conv debs $23,562,500 red 105 after May’ 16 SBa.xr
Certificates of Indebtedness (new)_____________ z
Equip trust bonds gold $225,000 due s-a.SBa.xc
do
ser B gold $125,000 due s-a_____SBax
B o n d s to be Refunded by General Unified B onds—

First cons (1st M on 1,023 miles) closed..F.xc*&r* 3,941
10 2
North East (S C) cons M gold Flor to Charleston ,xc
696
Atlantic C L of 3 C gen 1st M (lst on 594 m)gSBazo~
69
Petersburg M class A gold______________________ z
69
do
do
class B g (Petersburg to Weldon) .z
27
Richmond A Petersburg Consol M g_______Ce.xo*
479
Wllm & Weldon gen M ($938,000 are 4s) g.SBa.zo*
91
Wilmington & New Bern 1st M gold assum.SBa.z
111)
Nor & Car let M gold (P Pt Va to Tar, N O.Ce.zo*
110
Second mortgage gold..............................-SBa.zc*
544
Sav Fla A W 1st M g ($2,444,000 are 5s) -Mp.xc* Ar
111
Charleston A Savannah gen mtge gold._-SBa.zo*
167
Bruns & W 1st M (Brunswick to Albany)g gu Mp.zc
174
Alabama Midland 1st M g (Balnb to Montg) --M p.xc
244
Florida So 1st M gold..................................... AB.zc*
145
Sanford & St Petersburg first mtge gold______PePx
64
Sll S d O & G 1st M gold (Ocala to fnv A br).Eq,xo*
278
Atlantic & Danv— 1st M $4 ,4 2 5 ,0 0 0 g Int rent.-Baxc*
278
Second mort $1,525,000 gold lnt rental------ bq.xo*
__
Atlantic & North Carolina—Stock $ 1 ,8 0 0 ,0 0 0 ------95
Flrst mortgage $325,000---------------- ---------- -MeBa
167
Atlantic & St Lawrence—Stock 6 % rental Grand Tr k
24
Atlan & West’ n— IstM $1.500,000g red 105-I Baxxc*
53
Augusta & Savannah— Stock 6 % rental Central of Ga

■&c., $2,258; bal., sur., $768,434.
not, after taxes, $2,160,096.

100 Ac
1 ,0 0 0
1 ,0 0 0

A m oun t
O u t s ta n d in g

$4,482,935
135.100
448,000
1.375,000

R a te

%

4
4
4g
4X g

W h en
P a y a b le

M
M
M
J

1902 1 ,0 0 0 Ac 51,326.750
4 V. M
1 ,0 0 0
1883
657,000
J
6 g
1898
1 .0 0 0
5.547.000
4 k .1
1881
1 ,0 0 0
J
8 6 8 ,0 0 0
6 g
1881
1 ,0 0 0
800,000
A
6 g
1890
1 .0 0 0
300.000
4M g A
1 ,0 0 0
1885
4,000,000 4 g A 5 g J
1897
1 .0 0 0
F
106.000
4 g
1889
1 ,0 0 0
A
1,314.000
5g
1896
1 .0 0 0
400,000
5 g
J
1884
1 .0 0 0
6.500.000 5 g & 6 g A
1886
1 ,0 0 0
7g J
1.500,000
1888
500 Ac
4 g J
1,407,000
1888
1.0 0 0
2.800,000
M
6 g
1895
1 .0 0 0
2,418,000
4g J
1894
1 .0 0 0
275.000
4g J
1888
1 .0 0 0
492,000
4 g J
1900
1 .0 0 0
3,925,000
4g J
1904
1 ,0 0 0
4g J
1,525,000
10 0
1.797,200 3 In 1915 J
1887
1 ,0 0 0
325,000
6
J
£ A $100
M
6,484,000
6
1912
500 Ac
312,000
M
5 g
10 0
J
1.022.900
5

In 1913-14, gross oper. rovs., S5,723,696;

A
A
A
A

L a s t D iv id e n d
a n d M a tu r ity

P la c e s W h ere In teres t a n d
D iv id e n d s a re P a y a b le

N Nov 11939

Safe Dep & Tr Co, Balto
Treas Office. Wllm. N 0
S To Mch 1 1917 U S Tr Co. N Y . A Balto
D To Deo 1 1921
do
do
N Irredeemable

A S July 1 1952
United States Tr Co. N Y
A J Jan 1 1933
United States Tr Co, N Y
A J July 1 1948
Safe Dep A l'r Co, Balto
A J July 1 1926
Meron Nat Bk, Rlch’d.Va
A O Oct 1 1926
do
do
A O Apr 1 1940
Brown Brothers, NY
A J July 1 1935
First Nat Bk, NY. &Balt
A A Aug 1 1947
Safe Dep A Tr Co, Ball
A O Apr 11939
Central Trust Co, N Y
A J Jan 1 1946
Safe Dep A Tr Co, Ball
A O Apr 1 1934
United States Tr Co. N Y
A J Jan 1 1936
do
do
A J Jan 1 1938
do
do
A N Nov 1 1928
Metropolitan Tr Co, N Y
A J Jan 1 11)45
United States Tr Co. N Y
A J Jan 1 1924
do
do
A J July 1 1918
do
do
A J July 1 1948
Bankers Trust Co, N Y
A J July 1 1948
Equitable Trust Co
& J Jan 1 1916 1 M Check from Co’s Office
Nat Mechanics’ Bk, Balt
A J July 1 1917
A S Mch 1916 3% London and Portland
Fidelity Tr Co. Balt
A N May 1 1952
A J July 6 1916 2M Savannah, Ga

and $5,000,000 stock and in 1913 acquired $6,120,000 additional. V. 75,
p. 733, 792. 905; V. 79. p. 785.
STOCK.— Atl. Coast Line of Va. class A (Rich. A Pet. ctfs.) tax-exempt
ATLANTA & ST. ANDREWS BAY RY.— Owns from Dothan, Ala., to stock was assumed as so much of the com. stock of the new company.
Panama City, Fla., on St. Andrews Bay, Gulf of Mexico, 82 miles; opened
DIVS. (% )— ’ 03-’05. ’06. ’07. ’08. ’09. ’ 10. ’ l l . ’ 12-’ 14. ’ 15.
1916.
July 15 1908. Stock authorized, $1,000,000; outstanding, $300,000; par, Com.(Incl.Cl.A.) a 5 y’ rly 6
6 65H 514 6
6
7 yrly 5 2 H .2 H
$100. Central Bank & Trust Corp. of Atlanta, trustee of 1st M . V.
Also In 1905 20% In com. stock scrip and 5% In Atlantic Coast Line Co.
98, p. 1391, 1460; V. 8 8 , p. 685; V. 83, p. 270. For year ending June 30 4% certificates o f indebtedness. V. 81, p. 1558. b Includes 3% paid in
1914, gross, $227,096: not, $81,691; Int., taxes, &c., $64,035; improvements, Jan. in Atlantic Coast Line RIt. 4% certificates of Indebtedness.
$17,078: bal., sur., $578. 10 mos. end. Apr 30 1916, gross, $173,558;
BONDS.— In April 1914 the 4% Unified Mortgage of 1909 was closed and
not, $41,320. Pres., Asa G. Candler, Atlanta, Ga.; Treas., Walter T. a new
$200,000,000 General Unified Mortgage was made permitting (unlike
Candler.— (V. 98. p. 1535; V . 101, p. 526.)
the mortgage o f 1909) the Issuing o f bonds In series at various rates or Interest
ATLANTA TERMINAL CO.— Owns union passenger station opened
The old Unified 4s held by the R R .C o. and the Atlantic Coast Line Co.
May 14 1905, with approaches, used by Southern R y.. Central of Georgia
($21,330,000 and $3,008,000) were exchanged at once for new Series A
B y ., Atlanta & West Point R R . and Atlanta Birmingham & Atlantic Ry. 4Hs, $ for $, and a similar exchange is offered till June 1 1916 to the
Stock, $150,000, owned in equal proportions by the first three companies $187,000 old unifiod 4s held by the public. V. 98, p. 761,1070,1154,1243;
named, charges and expenses being paid by the four using companies on car V. 100, p. 1916.
basis. V. 76, p. 593, 1394; V. 77. p. 699; V. 8 8 . p. 1196.
P u rp o se s f o r w h ic h the $200,000,000 G e n e ra l U n ifie d B o n d s w ere o r a re iss u a b le
ATLANTA & WEST POINT RR.— Atlanta, Ga., to West Point, Ga., Issuable as Ser. A 414s to refund $30,847,484 Unified 4s______$30,847,484
92.99 rn. Georgia R R . Moh. 31 1910 owned $936,100 stock, but sold same Reserved to retire 4% certifs. of indebtedness, pref. stock and
In 1910-11 to the lessees at $135 Dershare, with the option of purchase at
debenture bonds__ _____ ________ _________________________ 4,963,960
samo price on expiration o f lease.
Reserved to retire underlying bonds__________________________ 84,438.750
DIVIDEN DS.— From July 1 1884 to July 1901, inclusive, 6 % yearly. Reserved (along with any bonds not Issued to retire certificates
of Indebtedness) for future construction, improvements, &c__ 79,749.806
J. & J.; Oct. 1 1899, 25% extra; 1902 to Jan. 1916, 6 % yearly.
In 1914-15, gross. $1,185,338; net, after taxes, $175,454; other Income, V. 98. p. 761. 1070 1154, 1243; V. 100. p. 1508.
The 4% convertible debentures will be redeemable after May 1 1916 at
$147,018; charges, $168,202; dlvs. (9 % . Incl. July 1 1915 div., making 3 in
all, by order o f I . C . Commission). $221,724: dof. ,$67,404.— (V . 93. p . 1104) 105 and convertible at the option of the holder into common stock at $135
a share at any time up to Jan. 1920, or, if called, up to 30 days of date.
ATLANTIC CITY RR.— Camden to Atlantic City,58.35miles; branches. V. 97. p 1513.
Winslow Junction to Cape May, N. J., 55.80 miles: Wllllamstown.
As to the $35,000,000 collateral trust 4s of 1902, see “ Organization”
.22.67 miles; Gloucester, 10.86 miles; Sea Isle City, 12.35 miles: Ocean above. They are subject to call at 105 In amounts not less than $l00,000.
City, 10.16 ilos total. 170.19 miles. V. 72, p. 1278. STOCK, common,
There were outstanding M ay 31 1916 $22,000 Bruns. & West. Incomes.
$2,625,000; pref., $1,000,000 (par, $50). Reading Co. owns over 99% of
The Washington * Vandemere 4 Ms ($1,500,000 authorized, of which
stock, and guarantees consol. 4s, prln. and lnt.
Form of guaranty, V. 8/20,000 outstanding) are guar., p. & I., by endorsement. V. 84, p. 1246.
75. p. 1398.
Of the latter, $2,649,000 are reserved to retire prior lien As to Winston-Salem South Bound R R . guar. 4s, see that company.
bonds. See V. 73, p. 81.
There are also outstanding $22,800 Sea Coast
FINANCES.— In 1915 the dividend rates of the company and o f the
R R . series A 5s and $1,200 series B 5s.
Louisville & Nashville were reduced from 7% to 5% . V. 99, p. 1831:
E ARN IN G S .— 1 0 mos.,/1915-16___ Gross, $2,001,226; net, $333,427
V. 89. p. 1595. Bonded debt per mile June 30 1915, $26,574. In March
July 1 to Apr. 30.
J1914-15----- Gross, 1,926,846; net,
166,847
Year ending Juno 30 1915, gross, $2,357,274; net, $387,999; oth. income, 1915 $5,000,000 series " A ” 4M % Gen. Unified bonds were sold. As to
$52,649. Deduct: interest on funded debt, $207,873; taxes, $165,916 General Unified Mortgage, see BONDS above.
RESULTS.— 10 m os.,/1915-16___ Gross, $28,672,595; net, $8,230,542
rentals, A c., $257,820; add’ns & impts., $119,294; b a l., def., $310,285,
July 1 to Apr. 30. \1914-15___ Gross, 26,616,265; not. 6,065,454
against $193,560 in 1913-14.— (V. 82, p. 750.)
REPO RT.— For year ending June 30 1915, V. 101, p . 1709, 1725.
ATLANTIC COAST LINE CO.— Organized M ay 29 1889 under the
1914-15.
1913-14.
1912-13.
laws o f Connecticut, and owned June 30 1915 18,590,600 common stock
and a large amount of the bonds o f the Atlantic Coast Line R11.— see below. Gross receipts..................................... $31,536,475 $36,832,780 S36,123,072
Operating expenses and taxes.............24,o07,361 27,782,887 26,087,009
STOCK.— The stockholders voted February 20 1914 to reduce the
stock from $17,640,000 to $8,820,000, effective as of Mar. 10, the stock­
Net receipts from traffic___ ------$7,029,114 $9,049,893 $10,036,063
holders receiving an equal number of now $50 shares in place of the old Other income_________________ ------ 1,468,747
1,485,642
1,365,908
$100 shares, also out o f assets $100 Atlantic Coast Line RRs. common stock Dividend on L. & N . stock___ ------(5)1,836,000 (7)2.570,400 (7)2,356.000
for each $50 stock surrendered—see below. V. 98, p. 234, 609.
As to the certificates of Indebtedness, see editorial Oct. 1897. Supple­
Total net receipts.............................$10,333,861 $13,105,935 $13,757,971
ment, p. 3: V. 65. p 564; V. 71, p. 1310. In 1898 $5,000,000 stook was Interest on bonded debt. &c.................$5,676,358 $5,548,708 $5,604,780
distributed as a 100% dividend (V. 67, p. 954), and In 1900 $10,000,000 4% Int. on certificates of Indebtedness..
5,466
9,711
9,378
certificates of Indebtedness (Including $2,500,000 of Atlantlo Coast Line Rentals and miscellaneous.................
351,101
218,508
360,600
RR. Co.) as a 100% dividend. (V. 71, p. 697; V. 73, p. 493.) As to se­ Dividend on preferred stock ( 5 % ) ..
9,835
9,925
9,925
curities pledged to secure equally the certificates of Indebtedness, sec V. Dividend on common stock............... (5)3,427,900 (7)4,799,032 (7)4,580,236
17. p. 1310; V. 83. p. 560. Bal. sheet 1914, V. 99. p. 1127.
Balance, surplus.............................
$863,201 S2,520,051 $3,293,041
CASH
\’02. ’03. ’04. ’05. ’06. *07. ’08. ’09. ’ 10. ’ l l . ’ 12 to Juno 1916.
OFFICERS.— Chairman, Ilenry Walters; Pros., J. R. Konly; 3d V .-P .,
D 1 VS— % J 6 H 8
8
9
10 10 8
9 10 10 12 yrly (3 O-M )
Chairman, iionryWalters.— (V. 98, p. 609; V. 99, p. 1127; V. 101 ,p. 1369). Lyman Delano; 4th V.-Pres.,’ R. A. Brand; Gen. M gr., P. R . Albright;
ATLANTIC COAST LINE RR.— (S ee M a p . ) — Operates from Richmond Sec., Herbert L. Borden: Treas., James F. Post.— (V. 101, p. 1725, 1806,
and Norfolk, Va., on the north, to 1-ort Myers, Port Tampa and River Jet., 2143: V. 102, p. 344. 1346.
ATLANTIC & DANVILLE RY.— (S e e M a p S o u th e rn Ry.)— West Nor­
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.; folk to Danville, Va., 205.1 miles; three branches. 22.25 miles; James River
Jet. to C aremont (3-ft. gauge), 50.36 m.; total. 277 m. Leased to Southern
Savannah and Brunswick, Ga., and Jacksonville and Port Tampa, Fla.
L i n e s ow n ed a n d track ag e — M i l e s . 1 T
‘ ' (C o n .)— M i le s . Ry. from Sept. 1 1899 to July 1 1949 for taxes, repairs, malnt. and cash
L iJ n e s o w n e d . <fec.
rental sufficient to cover int. charges, with privilege of renewals for terms of
Richmond, Va., to Port Tampa,
Sylvan Lake near Sanford to
St. Petersburg, Fla________
145 99 years. In addition the Southern R y. agrees to pay the same rate of divi­
F l a ____ ______ _____ ______ 907
Norfolk, Va.. to South Rocky
Pa atka, Fla., to lirooksvllle.. 145 dends on com. stock as paid on Its own com. stock. V.71.P.447; V.79,p.625.
Mount_____________________ 115 Mllldale, Fla., to Perry............. 163 Suit to enforce provisions of lease, V. 95. p. 1606.
Contentnea to Wilmington___ 105 Branches. Ac.....................
1,735
BONDS.— Of the $4,425,000 4s of 1900. $500,000 can be issued only for
Lea sed—
Wilmington, N. C.. to Pee Dee
Improvements upon request of Southern R y., Interest charges to be covered
Junction __________________
97 Central R R . of So. Carolina—
by Increased rental. Of t e $1,525,000 second 4s, the remaining $750,000
Florence, S. C., to Augusta, Ga. 167
Lane to Sumter S. C._
40
were issued July 1 1909. V. 77. p. 195.— (V. 89. p. 1410: V. 95, p. 1606.)
Sumter to Columbia__________
45 Other lines........................................ 1 2
ATLANTIC & NORTH CAROLINA RR.— Morehead City to Goldsboro.
Yadkin Jet. (Wilmington, N.C.)
•
C ., 95 miles. State of No. Car. Nov. 1913 owned $1,266,600 of $1,797.­
116
to Sanford__________________
Total In earns. June 30 1915.4,698 N.
200 stk. E. O. Duncan, Pres. Merchants’ Nat. Bk., Raleigh, and a director
Waycross, Ga., to Folkston, Ga. 34 C lo sely a llie d lin e s (see each co.) —
Jesup, Ga., to Montgomery, Ala. 355 Louis. A Nash. (Incl. Ga. R R .).7,607 of Norfolk Southern R R ., who in April 1913 had acquired about $270,000
Brunswick, Ga., to Albany----- 169 Char eston & Western Carolina. 343 of the private holdings at $75 per share, also offered the same for the State's
V. 96, p. 862, 1088. Leased from Sept. 1904 to Jan. 1 1996 to
Dupont Jet. to Fort Myers, Fla. 348 Northwestern
_ R R . of So. Car. .
76 holdings.
Atlantic & North Carolina Co. (the lease being later transferred to Norfolk
Also owns one-sixth Interest In the Richmond-Washington Co. Leases
Southern
R
R .) for int. on bonds, taxes. &c., and dlvs. at 3% for 20 years,
Jointly with the Louisville fc Nashville R R ., the Georgia R R ., 571 miles
Extension from Monticello to Perry, Fla., about 35 miles, Is proposed, ncreasing M % every 10 years till 5% is reached; thereafter, 6 % .
DIVS.—
’93. ’94. ’95. '96. ’97. ’98. ’99. 1900-04. Underlease
making a short route to Tampa, Fla. V. 94, p. 416; V. 95, p. 1411. Archer
2
0
2
2
2
2
0
as above.
F la., to Morrlston, Fla., 20 miles, opened Oct. 15 1913. Dunnellon to Per cent------ 2
— V. 83. p. 1522; V . 96. p. 862, 1088.)
Wilcox, Fla., 50 miles, opened Mar. 1 1914.
ATLANTIC & WESTERN RR.— Owns Sanford to Lilllngton, N. C.. 24
ORGANIZATION.— On April 18 1900 absorbed by consolidation (V. 70,
. 840. 893), Wilmington & Weldon R R ., Atlantic Coast Line RRs. of S. C. miles, extension from Sanford to Goldsboro being proposed. In May 1912
and Va. and Norf. & Car. R R . Florida Southern and Sanford A St. Peters­ Mlddendorf, Williams & Co. of Baltimore acquired control. V. 94, p. 1249.
burg were merged April 1903. V. 76, p. 918, 971. The Atlantlo Coast Stock, $312,000; par, $100. Bonds Issuable at $12,000 per mile. See
Lino Co. (of Conn.) June 30 1915 owned $18,417,600 common stock, table above. For year 1914-15, gross, $45,919; net, $16,546; charges,
$17,640,000 having been distributed Mar. 10 1914 among its stockholders $18,553; bal., def., $2,007. In 1913-14, gross, $50,708; net, $21,059; sur.
after charges, $1,650. Pres., II. O. Huffer Jr., Baltimore, M d.; Sec. and
fieo that co. above. V. 70, p. 893; V. 71. n. 1116, 1310; V. 83, p. 560.
Treas., Wm. C. Cooke.— V. 94. p. 1249; V. 95, p. 1038.)
Sav. Florida A Western Ry. was merged in 1902, V, 74, p. 774, 829.
In Oct. 1902 acquired $30,600,000 of the $60,000,000 Louisville A Nash­
AUGUSTA & SAVANNAH RR.— Mlllen to Augusta. Ga.. 53 miles. In
ville RR. stock for $10,000,000 cash, $35,000,000 In 4% collat. tr. bonds 1895 ro-leased to Cent, of Ga. for 101 yrs. at 5% on stock.— (V. 61, p. 239.)

Pros., O. S. Fairchild, N. Y .—(V,




102, p. 1058, 1162.)

10

[Vol. 102.

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[ F o r a b b re v ia tio n s , A c . , see notes on f i r s t p age]

M ile s D a te
Road Bonds

Par
V a lu e

Am ount
O u ts ta n d in g

R ate

%

W hen
P a y a b le

L a s t D iv id e n d
a n d M a t u r it y

Augusta Southern— First consol mtge gold____Ce.xc 82)4 1894
$ 1 ,0 0 0
$400,000
5 g J A D Deo 1 1924
Augusta Union Station— First M 5250,000 gold.SBax
1903 1,000 Ao
225,000
4 g J A J July 1 1953
Austin & N W— See Houston A Texas Central
17.7
Avon Qcneseo & Mt Morris RR— Stock (see text)-----10 0
225,000
3)4 J A J Jan 1 1916 I K
M A S Sept 1 1934
88 1894
1 ,0 0 0
1,250,000
Baltimore Chesapeake & Atlantic— 1st M gold.Mp.zo*
5e
3 1879
.1 A J July 1 1929
Balt & Cumberland Val Ry— 1st M Interest rental-----500
48,500
6
J A J July 1 1929
Balt & Cumberland Val RR— 1st M Interest rental----10 0 &o
72,800
6
5 1879
50
390,600 5 A 7 J & J July 11916
B & C V RR Exten—Stock gu (5270,000 carries 7 % ).
First mortgage Interest rental_______________MeBa
27 1881
1 ,0 0 0
230.000
J A J July 1 1931
6
1 ,0 0 0
Baltimore & Harrisburg Ry—Mortgage gold.MeBa.e*
58 1886
690.000
5 g M A N Nov 1 1936
1 .0 0 0
240,000
First M West Ext (516,000 p m) gold guar-MeBa.o*
15 1888
5 g M A N May 1 1938
1 0 0 151,948,703 5 In 1915 M A S Mch 1 1916 2)4
Baltimore & Ohio— Common stock 5210,250,000------10 0 58,863.182 4 in 1915 M A s M ch 1 1916 2%
Pref stock 4% non-cum authorized 560,000.000___
Prior lien m tgegold (closed) not call------Ba.xo* Ar 1,066 1898
500 Ac 74,895.400
3)4 g J A •III July 1 1925
500 Ac 79.976.000
A A oil July 1 1948
First M gold red at 105 after July 1923-.Us.xo* Ar 1.658 1898
4g
SouthwDlv 1st M545.000.000g........................Fxc* Ar
500 Ac 44,840,980
922 1899
3)4 e J A Jll July 11925
Nov 1 1925
Pitts Juno & Mid Dlv 520.000,000 1st M g-Ce.xc* Ar
379 1898
500 Ac 66,055.950
c
3 )4 g
P E E & W VSys ref g red 100 after 1925-Un.xo* Ar 1.634 1901
1 .0 0 0 42,525.000
4 g M & N Nov 1 1941
500 &c 63,250,000
Convertible bonds redeemable (text)___ Ce.xc*Ar*
1913
4)4 g M A H Mch 1 1933
Ref&GenM Ser A g (call, all 105 beg ’25)yQ.c*&r* 4,486 1915
60,000,000
5 g J Sc D Dec 1 1995
Cinc-Tol Div 1st M $35,000,000 “ A " call 102K
Seo text
Semi-an 1959
1916
4
EqulpbdsdueS 1.000.000 yly e gu (V94p349) G Pxo* Ar
1912
1 ,0 0 0
6 .0 0 0 .0 0 0
4)4 g F A A To Feb 1 1922
do due $1,000,000 yrly (V 97. p 802)-Q P.xc*
1 ,0 0 0
6.965.000
4)4 A & O T o April 1 1923
— 1913
T o U n d e r ig C in & T o le d o D i v . M o rtg a g e —
Cln Ham & Dayton 2d (now 1st) mtgo g o ld .. Fxc*
1 ,0 0 0
59 1887
2 ,0 0 0 ,0 0 0
4)4 g J Sc J Jan 1 1937
General mortgage $7,800,000 gold___________ xc*
1 ,0 0 0
3.000,000
59 1892
5 g J «& I) June 1 1942
50
Dayton & Michigan com stock (3)4 % g u a r )___
1871
2,396,950
3)4 A Sc <) April 1 1916,1 H
Preferred (8 % guaranteed) endorsed.................
50
1871
1,211,250
8
J— J July 1 1916, 2%
J & J Jan 1 1931
1st M gu p & i end ext in 1911 red 102)4 beg ’ 17.c
1 ,0 0 0
141 1881
2,728,000
4)4
B o n d s U n d e r lg in g P itts J u n e A M i d D iv M 3 K s—
Cent Ohio $2,500,000 con 1st M (1st loan)g MeBa.zc
1 ,0 0 0
143 1886
1.009,000
4 )4 e M A S Sept 1 1930
Pittsburgh Junotlon 1st M g o ld ___________ Bajcc
1 ,0 0 0
A J July 1 1922
6 1882
a934.000
6 SC J
Pittsburgh Junction 2d M gold— .............. Ba.xo
6 1894
1 ,0 0 0
5 g J A J July 1 1922
<1243,000
B o n d s U n d e r ly in g P itts b u r g h L a k e E r i e & W est V i r g i n ia 4s—
Clev Lor & Wheel cons M (now 1st) gold.Usm.xo*
1 ,0 0 0
5,000.000
191 1893
5 g A A o Oct 11933
General mortgage g redeem 1 0 5 ___________ N.xc
1 ,0 0 0
890,000
191 1896
5 g J A D June 1 1936
894,000
1 ,0 0 0
Cons ref M gold red at 102)4____________ Eq.xo*
191 1900
4)4 e J A .1 Jan 1 1930
3.301,000
1 ,0 0 0
Cleveland Term & Valley 1st M gold guar. Ba.xo* Ar
83 1895
4 X M & N Nov 1 1995
1 ,0 0 0
695,000
F A A Feb 1 1919
Monongahela Rlv R R 1st M gold guar B & O.Ce.xo*
36 1889
5g
1 .0 0 0
72 1900
225.000
5 tC M A S Mch 11050
Ohio A Little Kan Ry 1st M 5250,000 red 105 g ..z
C COUD8 . M A N.: reg. Int. Q.-F.
b ln addition 58,711.550 pledged as part collat. for Pitts. L E. * TV.Va. Sys. 4 s
AUGUSTA SOUTHERN RR.— Owns from Augusta to Tennllle. G a„ 82
miles. The Southern Ry. In Jan. 1901 acquired about four-flfths of stock
V. 73, p. 343. Com. stock. $400,000: pref., 5350.000: par. $100. Year
ending June 30 1915, gross, $160,027: not, after taxes and uncolloctlblo
railway rovenue, $17,569; other Income, $11,573; Int. and rentals, $41,975:
l mpts., $392: bal., d ef., $13,225. In 1913-14, gross, $185,936: not. $35,258.
— (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
operating contract providing for Interest on the bonds and 4% dividends on
stock Stock, $75,000 (5% paid In), held equally by Southern R y .. Atlan
tic Coast Line RR. and lessees of Georgia RR. V. 78, p. 2333; V. 79, p. 500.
Pres., Chas. A. Wlckersham; Sec., W . H. Vincent; Treas., W. S. Morris.
— (V. 82. p. 48.)
AVON OENESEO & MT. MORRIS RR.— Mt.Morris to Avon. N. Y ., 17.7
miles. Leased to Erie R R . Feb. 26 1896 In perpetuity; rental (after 1911).
3)4% on stock.— (See V. 63, p. 512; V. 62. p. 318, 589.)
BALTIAIORE CHESAPEAKE & ATLANTIC R Y — Owns Claiborne to
Ocean City, M d., 87.06 in.; Salisbury, M d., to Fulton, 0.55 m.; from Clai­
borne to Baltimore, 44 m ., transfer Is made by water; steamer lines owned,
1,134 m.; total mileage owned and operated, 1,221.61 m.
The Pennsyl­
vania and Phil. Balt. & Wash. In Feb. 1911 were authorized to purchase at
$70 per share the $478,100 minority pref. stock, the Penna. and allied cos.
already owning all the $1,000,000 common and 78% o f the $1,500,000 5%
cum. pref. stock. V.92. p. 525, 593. Dlv. on pref., 2% Mar. 1 1905: in
1906, Mar., 3% ; Oct., 2% ; In 1907, Mar., 3% ; Sept., 2% ; in 1908, Oct..
2 % ; 1910; Jan., 5% ; Sept., 2% ; 1911, Jan. 31. 3% ; Mar. 31. 2 % ; Oct. 2.
3 % : 1912, July 1, 2 )4 % .
The stockholders voted on Jan. 26 1905 to acquire a majority of the stock
cf the Maryland Delaware & Virginia R y., extending from Queenstown.
Md., to Lewes, Del., with branches, a total of 77 m „ and guarantee 52,000.­
000 of its first ratge. bonds. See that co., V. 80. p. 116, 1058. In Mob
1912 sold $200,000 5% equlpt. trust notes (secured on two boats) $80,000
duo $40,000 yearly to March 1 1917.
Fiscal year now ends Dec. 31. In 1915, gross, $1,154,423; net, $26,326;
other income, $26,068; charges, $279,627; bal., def., $227,233. against
$99,550 In 1914.— (V. 100, p. 980; V. 101, p. 692; V. 102, p. 1539).
BALTIMORE & CUMBERLAND VALLEY (R R . AND R Y .).— The
R a ilr o a d extends from State Line, M d., to Waynesboro, Pa.. 4.55 miles,
stock, $76,700, In $50 shares. The R a ilw a y extends from Edgemont, M d.,
to State Line, Pa., 3 m.; stock, $42,500, In $50 shares. Both are leasod to
Western Maryland R R . for 50 years from July 1 1879, with privilege of
renewal or purchase; rental, Interest on bonds.
BALTIMORE & CUMBERLAND VALLEY RR. EXTENSION— Waynes
boro to Shlpponsburg, Pa.. 26,52 miles. Leased to Western Maryland RR
tor 50 years from July 1 1881, with privilege of renewal, for lnt. on bonds
and dividend on stock, amounting In all to 538,730.— (V. 75, p. 665.)
BALTIAIORE & HARRISBURG Ry.— Emory Grove. Md., to Orrtanna.
Pa., 59 m., with branches, 7 m., total, 66 m. Leases Balt. A Harrisburg
R y., Western extension, Orrtanna to HIghtleld, 15 m.. guaranteeing int. on
Its bonds. Leased to Western Maryland R R . for 50 years from Oct. 25
1886: rental, lnt. on bonds and 5% on pref. stock (all paid M. & N .).
Dividends on common at 5% had In 1913 been paid annually for over 5
years. Stock, oom., 5690.900; pref., 529.100.— (V. 44, p. 812.)
BALTIMORE & OHIO RR.— (See M a p .) — ROAD.— Operates from Balti­
more to Philadelphia and Baltimore to Chicago, Cincinnati and St. Louis;
total mileage leased, owned and operated In July 1915, 4.535 miles. "R oyal
Blue Line” (see Central R R . of N. J.) gives access to New York.
The system embraces, subject to mortgages, the following lines:
P r .U e n 3 H % AT.— (1,066m.) M ile s . Pittsburgh A Western________ 214
37
Balt.to Wheeling, Belpre,O.,& 0 .x 7 3 5 xPlttsb. Cleveland A Tol. B r._
50
Oumb. to Plttsb. & w ., A c___ 331 xPlttsb. Palnesv. & Fair. Br__
lsf M tg e . 4 % — (593 m ile s )—
xEastern Ohio B r____________
17
Balt, to Phlla. and branches
132 xTrumbull A Mahoning_______
9
Chicago, 111., to Akron, O h io.. 376 Monongahela River B r________
37
Branches to Fairmont,W.Va.,Ao. 85 xClev. Terminal A Valley.........
83
xCleve. Lorain A Wheeling B r._
S o u th W . Div. 3)4% M . —
Belpre, O.,via Cine. toS t.L .,A o. 922
Wheeling to Cleveland, Ao._ 191
xOhlo River Lines—
264
P it t s . J e t . 3 H % M .— (379 m iles)
Bellalre to Midland City, Ohlol
West Virginia Short Line Br__
61
Shawnee to Sandusky, O h io ../ 373 xOhlo & Little Kanawha B r__
72
Pittsburgh Junction R R ______
6 xMahonlng Valley Western B r.
43
P . L . E . & W . V . 3 y s A % M . ( * 1 ,0 3 4 m .)

West Virginia A P ittsburgh...

177 . Total of all (adding other lines
j lncl. in Income acct________ 4,535
• Includes 379 m.. also covered by Pitts. Jet. 1st M. o See this company.
x Tho company has purchased those lines.
The purchase o f the Cin. Hamilton & Dayton main line with branches
and leased line, per plan effective in June 1916, will add 368 miles to tho
road operated. See Cln. Hamilton & Dayton R y. Co.
Also owns Sandy Valley & Elkhorn R y. V. 95, p. 889; V. 100, p. 307.
Owns B. & O. Chic. Term. R R ., $8,000,000 stock and $32,000,000 of Its
4% bonds. See below. V. 90, p. 166, 1101.
HISTORY.— Receivers were appointed In Feb. 1896, but In 1899 reor­
ganized without foreclosure, per plan In V. 6 6 . p. 1235. See also V. 67.
* . 6 8 8 , 1206, 1356; V. 95. p. 681, 1121, 1744; V. 96, p. 134; V. 97. p. 363.
C o n tro l o f the C in c in n a t i H a m . & D a y t o n .— Under the readjustment plan
of the Cincinnati Hamilton & Dayton (see that c o y and V. 102, p. 1059)
the B. & O. will take over tho control and operate directly about 368 miles
of the system, including tho main line between Cincinnati and Toledo, and
will authorize an issue of $35,000,000 B. & O. Toledo-Cinclnnati Dlv. bonds
to covor the same.
Of these bonds there will now bo issued $11,250,450
4s due 1959 (but callable at 102)4 & lnt.— int. seml-ann.) in exchango for
existing securities, disturbed, $5,000,000 for Immediate cash requirements
(other than the purchase by tho B. & O. o f not over $17,529,000 Gen. M .




P la c e s W here In teres t a n t
D iv id e n d s a re P a y a b le

J P Morgan A Co, N Y
Safe Dep A Trust Co,Balt
Erie Railroad, New York
Broad St Station, Phlla
Nat Bk Commerco, N Y .
do
do
Company’s office, Balt
Nat Bk Commerce N .Y .
do
do
do
do
Co’s Office, 2 Wall St.NY
do
do
do
do
do
do
Co’s office, 2 Wall St, NY
do
do
do
do
do
do
do
do
Now York
Girard Trust Co, Phlla
do
do
J P Morgan & Co, N Y
All coups paid June 1916
Cincinnati", Ohio
do
J P Morgan Sc Co, N Y
Office, 2 Wall St, N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Reg. Int. O.-J

bonds at $700.86 each) and $18,749,550 will bo resorvod for future capi­
tal requirements, including tho retirement at or beforo maturity of $/ ,728,­
000 underlying bonds to take up $3,608,250 Dayton & Michigan stock,
and for additions, improvements, &c. See O. H. & D. Ry.
READING CO., Ao.— In 1901 568,565.000 (virtual control) of tho 5140,­
000,000 Reading Co. stock, consisting of 512,130.000 1st pref., 528,530,000
2d pref. and $27,905,000 com ., was acquired jointly with the New York
Central IiR ., each co..taking one-half, Dut in 1904 each sold $3,950,000
of the common. V. 76, p. 101; V. 80, p. 1856.
STOCK.— Pref. stock, see V. 71. p. 1166, 1143; V. 72, p. 1186.
DIVIDEN DS— 1900. 1901-1904. 1905. 1906. 1907-1914. '15. T 6 .
Common (% )______ 2
4 yearly.
4)4
5)4 6 yearly. 5 2 )4 ,-,
Preferred__________ 4
4 yearly.
4
4
4 yearly. 4 2 ,-,
BONDS.— (1) P r i o r L i e n 3 )4 % , a first lien on main line and branches,
Parkersburg branch and Pittsburgh division, about 1,066 miles of first track
and 1.697 miles of second, third and fourth tracks and sidings, and also all
the equipment now or hereafter acquired. Total auth., $75,000,000. See
application to list, V. 69, p. 30; V. 78, p. 1906; V. 8 6 , p. 1528; V. 8 6 . p. 36.
(2) F i r s t M . 4% B o n d s , D u e J u l y 1 1948; a first lien on the Philadelphia,
Chicago and Akron divisions and branches and the Fairmont Morgantown &
Pittsburgh UR., covering about 593 miles of first track and about 841 miles
of second, third and fourth tracks and sidings; also on tho properties covered
by the B. & O. Term. Mtge. of 1894, all owned by tho B. & O. and Balti­
more Belt R R . Also a lien, subject to prior mtgo., upon main lino, &c.
V. 69, p. 30; V. 79, p. 211; V. 97. p. 297, 594; V. 102, p. 1435.
Total Issue closed at $82,000,000, except for $75,000,000 reservod to
retiro prior lien bonds in 1925.
(3) S o u th w e ste rn D i v i s i o n 1st M . 3)4s. Virtually a first lien
upon former B. & O. S. W. system, 922 miles of 1st track and
543 miles of 2d track and sidings. All Issued______________ 45,000,000
(4) D. & O . , P it t s b . J e t . A M i d . D i v . 3 )4*. Expected to be ul­
timately a first lien upon the railroads of the Central Ohio
system and Pitts. Jet. R R . Co., 379 miles In all. Total___ $20,000,000
$6,055,950 is in hands of tho public and $8,711,550 pledged under Pitts.
Lalco Erie & W . Va. 4s. Closed excopt to retire underlying bonds, seo table.
(5)
P it t s b u r g h L a k e E r i e & W est V i r g i n i a S y s te m mtge. refunding 4% gold
bonds (authorized amount $75,000,000) are a Hon on 1,634 miles,
forming a direct connection with Pittsburgh, Cleveland, Falrport, Lorain
and Sandusky, subject to underlying bonds outstanding thereon (see table
above). In June 1915 $30,771,550 additional underlying bonds. Including
58,711,550 Plttsb. June. & Middle Dlv. 3)4s. wero hold In trust as part se­
curity. The 531.558.500 unissued are reserved to retire underlying bonds.
V. 74, p. 266; V. 79. p. 2793; V. 80, p. 1423; V. 8 6 , p. 479, 1528; V. 87.
p. 36; V. 8 8 . p. 451, 685.
(7) C o n v e rtib le 2 0 -y e a r 4 Ms $63,250,000. dated March 1 1913, will
be convertible into common stock up to Feb. 28 1923 at $110 per
share and redeemable beginning March 1 1923 at 102)4. These 4 Ms aro
secured by the new blanket mortgage below described pari passu with the
now bonds. Seo V. 96, p. 134. 200. 651. 715, 1088, 1421; V. 97. p. 727.
Schuylkill River East Side Is. V. 77. p. 1745; V. 81. p. 727.
(8 ) R e f u n d in g A G e n e ra l M o rtg a g e o f 1915 due D e c . I 1995 (V- 101, p . 1884).
The initial $60,000,000 5% bonds o f this Issue was brought out In Dec.
1915 by Kuhn, Loeb Sc Co. and Speyer Sc Co. Seo below; also offering
V. 101, p. 1884; V. 102, p. 975.
S e c u rity . — Secured on practically entire system, 4,486 miles of first track .
and equipment or interest therein, having in 19i5 a net value of over
$79,000,000. Also covers the passenger and freight terminals in Philadel­
phia, Baltimore, Pittsburgh and Chicago and the freight terminals on
Staten Island, N. Y ., In Cincinnati and Washington, as well as one-half
stock Interest in the Washington Terminal Co. and one-half ownership
of joint yards at Washington. A direct Hon upon about 2,272 miles of first
track, and a Hen, through the deposit o f bonds, and in most cases all, and
in no case less than 96% of capital stock, o f each of the companies owning
the remaining mUeago.
R eservation o f B o n d s . — The mortgage reserves bonds to retlro about $282,­
000,000 prior liens on various parts of tho system and tho $63,250,000 con­
vertible gold bonds [these last being secured by the now mortgago part
passu with tho bonds Issued thereunderj and provides for tho reservation of
bonds for construction, improvements, now equipment and tho acquisition,
directly or indirectly, of properties and securities. Tho right is reserved to
refund the Prior Lien 3J4s into 1st M . 4s of 1898 duo 1948, and to oxtond
tho duo dato of the S. W. Dlv. 3)4s to date not later than July 1 1950.
The authorized Issue is limited to an amount which, together with all the
prior debts of the Railroad Co., after deducting therefrom the bonds re­
served under the provisions of tho mortgago to retire prior debts at maturity,
shall not exceed 3 times the then outstanding capital stock, with tho addi­
tional limitation that when the aggregate amount of tho bonds outstanding
and the bonds reserved to retlro prior debts shall bo $600,000,000, no addi­
tional amount o f bonds shall thereafter be issued, except the bonds so re­
served to retire prior debt, without tho further consent of tho stockholders
of the railroad company, and such additional bonds may be Issued only to
an amount not exceeding 80% of cost of work done or property acquired.
C in c in n a li-T o le d o D i v . lsi 4s o f 1916.— Soo “ Cln. Ilam. & Day, R y ."
F in a n c e s . —-In Dec. 1915 sold $60,000,000 Ref. & Gen. M . 5s to tako up
the $40,000,000 4)4 % gold notes of 1915 (paid off Juno 1 1916 at 100)4 and
int.) and for other requirements. V. 101, p. 1884; V. 102, p. 1346. Ground
rent liens June 30 1915, $3,189,830.
EARNINGS.— 10 mos.,f 1915-16-.-Gross, $91,121,549: not, $26,288,994
July 1 to April 30.
ll914 -l5---G ross, 74,876,636; not, 21,574,334
E a r n in g s f o r the F iv e M o n th s ended N o v . 30 1915— C o m p a re V . 101, p. 692.
1914.
1915.
I
1915.
G ross........ $40,464,359 $46,875,542 D e d u c t — Ohges., s. f.,&c. $8,032,358
981,053
Net, aft.tax. 9,867,710 14,153,953 Prof. div. 5 mos. at 4 % .
Other Income_________
1,556,719 Com. dlv., 5 mas. at 5% 3,165,530
Total income_______ $15,710,672

Surplus _____________ $3,531,731

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Baltimore & Ohio R.R.
Baltimore a Ohio Southwestern R.R.
Baltimore a Ohio Chicago Terminal R. R.Co
Cincinnati. Hamilton a Dayton Ry. Co
and Connections

[Vol. 102.

RAILWAY STOCKS AND BONDS

12
R A IL R O A D

M ile s
Road

C O M P A N IE S

fF o r a b b re v ia tio n s , A c . , see notes on f ir s t page]

Am ount
O u tsta n d in g

Par
V a lu e

Date
Bonds

Baltimore & O hio (C o n c l) —
5g
$1,000 $2,000,000
172 1886
Ohio River 1st M g_____________________ FP.xc*
2,911.000
5g
1.000
208 1887
General mtge gold 1st on 39 miles----------------- xc*
344,000
1.000
6g
32 1890
Rav Sp & G1 1st M g guar p & 1-------------- FP.xc*
297,000
6g
1,000
11 1892
Huutlngton & Big S 1st M g guar----------------- xc*
1,000
441,000
6g
47 1882
Plttsb Cl * Tol 1st M g ($1,953,000 ow ned)-------x
82,000
4g
100 &c
30 1878
Pittsburgh Newcastle & L E 1st M extended In g ..z
650.000
4g
1.000
201 1887
Pittsburgh & Western 1st cons M g______ ____ _.xc*
300,000
5g
1,000
3 1892
Ellwood Short Line 1st mtge g old ___________ Ox
1.000 3.885.000
4g
177 1890
W Va & P 1st M g 5s scaled, red at par__ Me.Ba.xo*
L e a s e d L i n e s , A c . , S e c u r it ie s —
1,000 6.000.000
4g
9 1903
Sohuylklll River E S R R 1st M g guar p & iendor.x
511.000
4H g
1,000
13 1893
Staten Island Ry 1st mtge $1,000,000 gold . Ba.zc*
500
5.000
5
37 1909
Hampshire So 1st M gold ($635,000 owned)..
394.000
1.886
5
g
1,000
Balt & Ohio ChicTerm RR— Ch&GtW IstM gass’d.vc*
650,000
5
1888
City of Chicago purchase money mtge assumed___
32,000.000 See text.
1910
First mortgage $50,000,000 authorized-------------- x
a "Total Issued” shown In first left-hand column, ba lance being owned b y Baltimore & Ohio.
Baltimore & Potomac—See Phlla Balt & Washington
100 3,448,600 3 in 1915
Bangor & Aroostook—Stock $5,000,000 auth--------3.360.000
5g
1,000
211 1893
First mortgage ($16,000 per mile) gold____ G.xxc*
106.000
1.000
5g
211 1895
Second mortgage gold_____________________Usmxx
1,500.000
5g
1,000
77 1899
First mtge Piscataquis Dlv $1,500,000 g ..G .x x c *
nK
500,000
1,000
33 1899
225,000
1.000
5g
15 X 1897
1.000 8.431.000
4g
412 1901
Consol refunding mtge $20,000,000 gold__ OB.xo*
1,000
1,000.000
6g
28 1907
5g
1,650,000
1,000
55 1909
5
1,800,000
1,000
60 1909
5g
1,000 2,000,000
1916
Two-year 5% coupon notes $2,500,000
n
1.IP »
90,000
1907
139,000
5
1,000
__ 'i r - 1 5
Car trust Ser E-F $19,000 or $20,000 yearly.

GuaranteedbyBangor A Aroostook

Bay of O u in te Ry— 1st M gold s f red 105 text-----

1,000
1,000
1,006
1.00(1
1.000
1.000

54 1905
1914
It 1889
10 1893
1902
49 1909

R E PO RT.— For year 1914-15, see V. 101, p. 1709. 1720.
----------- N
iVrm
----------- O ld B a s is
e w BB aassis
is---------1912-13.
1914-15.
1913-14.
1913-14.
Y e a r e n d in g J u n e 30.
4,456
4,535
4,478
4.478
M iles..............................

s

80,194,490
15,537,078
5.824,564

Freight............................ 70,780,808
Passenger........................ 14,059,940
Mall, express, &c______ 6,975,048

76,398,717 75,784,287
15,889,991 15,893,721
6,875,302 5,733,433

Total gross.................. 91,815,798
Operating expenses___ 63,925,508

99,164.010
74,403,389

97,411,441 101,556,132
72,054,892 73.779,638

Net earnings________ 27,890,290
Oper. inc. (after taxes). 24,581,697
Other income_________ 5,260,848

24.760,621
21,523,741
6,133.417

25,356,549
21,244,837
6,017,719

27,776,494
23.941,278
5,212,206

Total net income____ 29,842,545 27,657.158 27,262,556 29,153,484
Interest, rents, &c......... 19,119,297 18,456,704 18,061,989 15,819,233
Prof, dividends ( 4 % ) ...
2,354,521 2,354.521
2,354,634 2,354,891
Common dividends.,(5% )7.597,253 (6)9.118.762 (6)9,118,762 (6)9,120,976
Balance.......................sur .771,474 dof2.272.829 def2,272.829 sur1,858,383
ICxocutive Committee— Daniel Willard, Chairman; Pros., Daniel Wil­
lard; 1st V .-P., Geo. F. Randolph; 2d V .-P ., O. M . Shriver; 3d V.-P.,
Arthur W. Thompson; Treas., K. M . Devereux; Sec., C. W. Woolford.
Directors.— R. Brent Koyser, Robert Garrett, Felix M . Warburg, Oscar
G. Murray, James Speyer, W. Averill Harriman, L. F. Loreo. Charles A
Peabody, John G. Shedd, John R. Morron, N. Y.
Offico, 2 Wall St
— (V. 102, p. 250, 975, 1058, 1347, 1435.)
BALTIMORE & OHIO CHICAGO TERMINAL RR,— Property con­
sists of passenger and freight terminals In city of Chicago, lines of railway
leading thereto and a belt line around the city; also 760 acres of laud 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 River. Nearly
all land. Including that upon which tracks have been built. Is owned In fee;
Track owned, 76.53 m.; trackago, 15 m.: total, 92 m.; 2d track, 62 m.;
sidings. 130 m. Total all tracks, 297 miles.
H ISTORY.— Successor to Chicago Torminal Transfer R R ., foreclosed in
1910. V. 90. p. 166. 108, 235, 625. Stock, $8,000,000. all owned by B.&O.
TE N AN TS.— Balt. & Ohio, Chicago Great Western, Chicago Hammond
& Western R y. (Indiana Harbor Belt), Suburban IiR . (Chicago & West
Towns), Pere Marquette and Chicago Terre Haute & South Eastern Ry.
and Minneapolis St. Paul & Sault Ste. M . The last named became a
tenant Dec. 9 1914. See V. 77, p. 948, 2158; V. 79, p. 901; V. 96. P -486
Total minimum rentals from tenants, $1,105,325 annually. V . 79, p. 2084
BONDS.— Of the 1st M. bonds of 1910, $28,000,000 Issued as series A 4s
were given to the Balt. & Ohio to represent the cost of the property,
and $4,000,000 have sinco been purchased by the company. $3,000,000
additional series A 4s to be issued when required for improvements and
$ 1,200,000 reserved to retiro the old bonds and $13,800,000 for extensions.
Improvements and equip, to boar not over 4 H % int. V. 90, p. 1295.
EARNINGS.— For year ending June 30 1915:
,
Y e a r —•
G ro ss.
N e t.
Other I n c . I n t ., R en ts, A c .
B a la n c e .
1914- 15_$1,555,299 $470,761 $1,343,908 $1,459,633 sur.$131,783
1013-14___ 1,594,454
112,200 1,190,205
1,464,236 def. 161,831
EARNS.— 10m os.f 1915-16-.............Gross, $1,456,079; not, $167,103
July 1 to Apr. 30\ 1914-15.............G ross, 1,293,512; not, 191,587
BANGOR & AROOSTOOK R R .— Stockton Harbor. M o., northerly to
Van Buren, with brs.; total June 30 1915, 625.88 m. (508.02 owned in feo.)
Bridge over St. John River at Van Buren, M e., costing about $250,000,
was opened May 1 1915, giving connection via Intercolonial R y., with
lumber region in Canada. V. 97, p. 116; V. 100, p. 1591.
ORGANIZATION.— See V. 6 6 , p. 855. Owns entire stock of and leases
for 999 years Northern Maine Seaport R R ., La Grange to Searsport,
64.1 miles. V. 81, p. 1549; V. 84, p. 693.
STOCK.— In N ov. 1914 was authorized to increase the stock from $3,­
198.600 to $5,000,000. Of tho new stock $250,000 was offered to stock­
holders and issued to buy stock o f the Van Buren Bridge C o., making total
amount out $3,448,600. V. 99, p. 1450.
DIVIDENDS— 1904. 1905. 1906. 1907 to 1912. 1913. 1914. T5. ’ 16
Por C e n t.............. 3
IX
2
4 yearly
3
3X
3
3
BONDS.— Plsoat. Div. 5s, see V. 67. p. 1159; V. 6 8 , p. 84, 329. Of the
consol, ref. gold 4 s. $12,500,000 were reserved to pay off 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 ($5,000,000 auth.) are guar. p. & 1., In hands of public, $4,720,000.
V. 81, p. 265; V. 82. p. 392; V. 84, p. 3 9 1 ,692; form of guar., V. 81, p. 727.
Tho Van Buren Bridgo Co. bonds aro subject to call on and after Sept. 1
1916 at 110 and Int. V. 100, p. 311.
The St. John River Extension 1st 5s of 1909 ($1,800,000 auth. Issue),
guaranteed, prln. & Int., were Issued at $30,000 ner mile. V. 93, p. 939.
In April 1916 $2,000,000 of an authorized $2,500,000 5% 2-yoar notes
was sold to replaco $1,500,000 maturing ono year notes and for improve­
ments. V. 102, p. 1346, 1810.
The Aroostook Construction Co., which owns control, has made an Issue
of $2,500,000 5-vear collateral trust 5% gold notes dated May 1 1912, of
which $1,915,000 have been Issued to fund floating debt of the Bangor &
Aroostook R R . and the Aroostook Construction Co. The notes are secured
by $1,350,000 B. & A. RR. consol. 4s and $2,156,500 stock and 1,918 shares
of Northern Telegraph Co. stock. V. 94. P. 1382; V. 95, p. 237.
EARNS.—
G ross
N et
Other
C h a rg e s
B a la n c e
10 M o s . —
E a r n in g s .
E a r n in g s .
In c o m e .
& Taxes.
S u r p lu s .
1915-1 6 . .......... $3,110,051 $1,154,826 $18S,609 $1,170,448 $173,047
1914-15 ............. 3,139,239
1,148,745
164,609 1,139,985
173,369




4,7 ?0.000
250.000
100,000
200.00(1
830,000
883,000

W hen
P a y a b le

R a te
%

5g
6g
6
6

5g

6 it

L a s t D iv id e n d
a n d M a tu r ity

P la c e s W h e r e I n te r e s t a n 4
D iv i d e n d s a r e P a y a b l e

DJune 1 1938
O Apr 1 1937
A Aug 1 1920
J July 1 1922
O Oct 1 1922
D June 1 1917
J July 1 1917
J Jan 1 1922
O Apr 1 1990

Offico, 2 Wall St, NY
do
do
do
do
do
do
do
do
First Nat Bk, Allegheny
J P Morgan & Co, N Y
Co’s office, 2 Wall St. NY
do
do

Si D June 1 1925
& D June 1 1943
& J July 1 1934
J
& D June 1 1936
M Sc N May 1 1938
A & O Apr 1 1960

518 Walnut St, Phlla
17 State St, New York
N Y , Farm L & Tr Co
Bankers Trust Co, N Y
To City of Chicago

J

A
F
J
A
J
J
J

A

&
&
&
&
&
&
&
&
&

J
J
J

J &
J &
J &
A &
A &
A &
J Cc
M &
F &
F A
A &
A A
AO- M

J July 1 1916 2%
/ Jan 1 1943
J July l 1945
o Jan 1 1943
o Jan 1 1943
o Oct 1 1947
J July 1 1951
N May 1 1937
A Aug 1 1939
A Aug 1 1939
O Apr 1 1918
() To Apr 1917
N To 1921-1925

& o Apr 1 1935
& 8 Sept 1 1934
& D June 1 1919
A O Apr 1 1923
J & J2 Jan 21927
J & J July 1 1939

A
M
J
A

Checks mailed
Guar Trust Co, New York
do
do
do
do
do
do
do
do
Leo Iligginson & Co.Bost
do
do
Brown Bros & Co, N Y
do
do
Boston Old Colony Trust
PennCo for Ins,&c,Phlla
do
do
Brown Bros & Co, N Y
do
do
50 Church St. New York
do
do
Bk of M ont, Tor, or N Y
71 Broadway, New York

REPORT, ETC.— For year end. June 30 1915, in V. 101,p. 1365:
J u n e 30
Y ear—

O p era tin g N .E t c .a ft e r
Other
In t e r e s t,
R ev e n u e.
Taxes.
In c o m e . T a x e s ,A c .

D iv id e n d s
P a id .

B a la n c e
S u r p lu s .

$
$
$
$
3%fl03,458 123,032,
1914-15___ 3,747,973 1,272,336 203.307 1,249,154
_
3^)111.950 93,780.
1913-14___ 3,795,412 1,269,579 172,051 1,235,900
Pros., Percy It. Todd.— (V. 101, p. 1365; V. 102, p. 1346, 1810, 2253.)
BARTLETT-WESTERN RY.— Owns Bartlett, Tex., to Florence, 23 m.
Incorp. in Texas in 1911. V. 92, p. 1700. No bonds or stock outstanding
M ay 30 1916. Pros., Thos. Cronin; Sec., P. II. Cronin; Treas., I. O.
Branagan, all of Bartlett, Tex.— (V. 94, p. 1382.)
BATH & HAMMONDSPORT R R .— Bath, N. Y .; to Ilammondsport,
N. Y ., 10 miles. Control acquired by Erio RR. in 190S. Stock, $100,000.
For cal. year 1915, gross, $51,417; net, $13,472; other income, S432; int.,
rentals, &c., $19,918; bal., def., $6,014.— (V. 79, p. 1954.)
BAY OP QUINTE R Y .— Owns Deseronto to Bannockburn, Ont., 75.40
miles; Yarker to Sydenham, Ont., 10.60 miles; trackago (Kiugston &
Pembroke R y .), Ilarrowsmith to Kingston, 19 miles; total, 105.00 miles.
In 1912 Can. Nor. R y. acquired control. V. 98, p. 1601. Stock, com .,
$930,000; pref., 6 % non-cum., $465,000; par, $50. Divs. on com. 1907 and
1908, 3% ; pref., 6 % . Of tho bonds $70,000 aro reserved for extensions at
$10,000 per mile. Cum. sinking fund, $10,000 yearly, redeems each 5 years
$50,000 bonds by lot at 105; $50,000 retired In 1907 and 1912. For year
end. June 30 1914,gross, $202,375; op def,$3,863; Int.,taxes,& c., $86,874;
bal., def., $90,737. Pres., E. W. Rathbun; Asst. Sec., R . L. Ormsby;
Treas., L. W . Mitchell. Office, Desoronto. Ont.— (V. 97, p. 205. 629.)
BEAUMONT & GREAT NORTHERN R R .— Owns Livingston, Tex.,
to Weldon, 49.3 miles. Stock, $50,000, all acquired in 1912 by Missouri
Kansas & Texas R y ., which guaranteed tho bonds, principal and Interest,
M . K. & T . Ry. of Texas leases road for 99 years from M ay 1 1914 and
has authority to purchase the same, &c. V. 98, p. 999. For year ending
M ay 1, 1914, gross, $111,397; net income, $38,642; charges, $77,729; bal­
ance, deficit, $39,087.— (V. 95, p. 1121.)
BEECH CREEK R R .— (S ee M a p s N e w Y o rk C e n tr a l L i n e s .) — ROAD.
Jersey Shore, Pennsylvania, to Mahaffoy, 112 m.; branches to Phlllipsburg,
to mines, S e c ., 52 m.: total, 164 miles. Loased in 1890 to Now York
Contral RR. for 999 years at int. on bonds and 4% on stock, and since
May 1 1899 operated directly as a part of its Pennsylvania division. V. 6 8 ,
p. 872. Carries mostly coal and coke. See guaranty. V. 52. p. 570. The
bonds are endorsed with N . Y . Central's guaranty of prln. & Int. See
V. 52, p. 570. Guarantees Interest on $717,700 Clearfield Bituminous Coal
1st 4s due Jan. 1 1940—see that co. under "Industrials.” — (V. 75, p. 1398.)
BEECH CREEK EXTENSION RR.— (S ee M a p s N . Y . C e n t. A H u d R l v . l
—Clearfield. Pa., to Keating, 52.14 m.; Curry to Curwensvllle, 15.77 m.)
Dlmeling to Irvona, 26.76 m.: Mahaffoy to Arcadia, 13.67 m .; branches.
27.01 milos; total, 135.35 miles. A low-grado coal lino, leasod to Now
York Contral (which owns entire $5,179,000 stock and $3,964,000.
consol. Is) for 999 years from June 1 1905, bonds bolng guar.,p.&l. Orthe
consols, $3,500,000 Is roserved to retiro, $ for $. old bonds. V .8 0 ,p.1174.
1479; V. 81. P. 30: form of guaranty. V. 82, p. 1267.— (V. 82, p. 1267.)
BELLINGHAM & NORTHERN R Y .— Bellingham to Glacier, Wash.,
44.16 m.: branches, Hampton to Lyndon, 5.31 in.; Bolllngham to Squallcum, 5.81 m. Acquired by Chicago MUw. & Pugot Sound Ry. in Mar.
1912. V. 95. p. 1121. Stock, $1,200,000. Year 1914-15. gross, $197,716;
netincomo, $39,530; int., &c., $51,5-11: bal., dof., $12.011— (V. 95, p .1121.)
BELT LINE RY. OF iMONTOOMERY.— Owns real estate and a belt line
In Montgomery. Ala., about 1 mile of track on Tallapoosa, Bell, Perry and
Columbus streets. Atlantic Coast Line HR. pays an annual rental equal to
bond Interest and difference between taxes. Insurance and oost of operation
and gross earnings from others than the Atlantic Coast Lino. Atlantia
Coast Line RR. owns majority of $200,000 stock; par, $100. V. 92, p.
1242: V. 93. p. 43. Year ending June 30 1915, gross, $23,123; net. $12,250;
nt. on bonds, $12,250; bal., none.— (V. 93, p. 43.)
BELT RAILROAD & STOCK YARD OF INDIANAPOLIS.— Owns 14
miles of belt road. <3co. Leased for 990 years to Ind. Union— which see.
DIVIDENDS— Com. (1908. '09. '10. 1911. '12. ’ 13. '14. '15. '16.
Since 1907 __________ % l 12
6
6 3&50stk 10 13 14 13 below.
In 1915. Jan., 3% ; Apr., 5% ; July, 3% ; Oct., 2% . 1916, Jan., 3%
and 5% extra; April, 3 % .
„
„ „„
„
Mortgago trustee. Union Trust C o., Indianapolis. V. 89, p. 40; V. 92,
— Jersey Shore, Pa., to Mahaffoy, 112 m.; branches to Phlllipsburg.
p. 1242. Pres., S. E. Rauh, Indianapolis, Ind.— (V. 102, p. 1249.)
BELT RAILWAY (OF CHATTANOOGA, TENN.)— Owns 49 mile* of
belt railroad In Chattanooga, Tenn. V. 67, p. 72.
Leased till July 1 1945 to Alabama Great Southern n n .; rental guaran­
teed to meet Interest on llrst mtge. bonds, taxes and maintenance. STOCK
Is $300,000. owned by Alabama Great So. R y. There are also $24,000 2nd
Income M . 4s (tax-free), duo 1945, red. at par, int. at 4% paid in full to 1914.
BELVIDERE DELAWARE RR.— Owns from Trenton. N. J., to Msnunka Chunk, N. J., 67 miles; Flemlngton R R .. &o., 14 miles; total oper­
ated, 81 miles. Leased to United Companies, and transferred to Pennsyl­
vania RR. March 7 1876. Net earnings paid as rental.
D iv id e n d s .— 1897 to 1905, 5% yearly: 1906 to 1911, 10% yearly; 1912.
7% ; 1913, 6 % ; 1914, none.
BONDS.— All of the outstanding bonds aro scoured by the consolidated
mortgage of 1875 for $4 ,0 0 0 ,0 0 0 ; sinking fund, 1 % of outstanding bonds if
earned. The Issues of 1885. 1887 and 1903 aro guaranteed by the United
New Jersey RR. & Canal Co. Guaranty. V. 76. p. 918.
EARNINGS.— In 1915, gross, $2,112,433; opor. sur., $308,308; othor
income, $81,414: int., taxes, &c., sinking fund, &c., $261,343; divs. (4%)>
$50,120: sur., $78,259.— (V. 98, p. 154; V. 100, p. 228; V. 102, p. 1539.)

June 1916. j

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b re v ia tio n s, A c ., see n o tes o n fir s t p a g e]

M ile s
R oad

Beech Creek— Stook (guaranteed 4% by endorsement)
First mortgage gold guar p * 1 (endorsed) Col.xoAr
Second M tor $1,000,000 g guar p & 1 (end) .Un.xoAr
Beech Creek Exten— 1st M $4,500,000 g gu p A lU.xo*
Beeoh Creek consol M *20.000,000 g gu p&l d .o ’ &r
Belllngh & N o r — B B & B O 1st M $1,000,000 g sf .z
Belt RR & Stk Yd. Ind— Stook auth $2,000.000_____
Preferred stock cumulative___________ __________
1st refunding M $1,000,000 gold........................... xo*
Belt Ry of Chattanooga— First mtge gold..MeBa.xo*
Belt Line Ry. Montgomery— 1st M gold $300.000x___
Belvldere Delaware— Stook $4,000,000__________
Consolidated guaranteed by United Co’s sk fd _.xr
mortgage
guaranteed by United Co's sk fd __xr
of 1875
issue $600,000 reduced by sk fd ,_xr
$4,000,000
.
, guaranteed by United Co's sk fd .xc *
Bennettsvillc & Cheraw— 1st M $150,000 g..M eBa
Bessemer & Lake Erie— Erie equipment trust
_x
Standard equip trust_______________ .
x
Bessemer equipment trust, due $110,000 yearly. Ix
Conneaut oqulp Trust......................
Meadvllle eq tr due $ 5 5 , 0 0 0 yly___
x
Albion eq tr due $75,000 yrly to 1932 . . .
___ x
Euclid equipt trust due $250,000 yrly beg 1921..........
G i r a r d e a u E q u i p t r u s t d u e $ 2 1 0 , 0 0 0 y l y b e g in 1 9 1 8 -

1886
1892
1901
1905
1901

1909
49 1895
1911
1885
1887
1893
1903
1911
1902
1905
1907
___ ____
1911
1912
1914
- - - 1916
81
81
81
81
45

1911
1914
1907
1898
1898
1903

3y3
___
—
-- —
—
...

1911
—
1902
1901
’08-T0
1912
1913
1913

100 Ao
10 0
1.0 0 0

100 Ao
100 Ac
1.0 0 0
1.0 0 0
10 0
1,0 0 0
1,0 0 0
1.0 0 0
1.0 0 0
1.0 0 0
1 , 0 0 0 &c

BINGHAM CENTRAL R Y .— (V. 98. p. 1607.)

BIRMINGHAM TERMINAL CO.— Owns passenger terminals at Birming­
ham, Ala. Stock all owned by the Illinois Central, Southern Ry Seaboard
Air Line, Central of Georgia, St. Louis A San Franolsco and Alabama Great
Southern, whloh lease the property and pay all expenses, charges and 4%
dividends on the stook and Jointly guarantee the bonds. Of the honrta
($3,000,000 authorized) , $1,060,000 are reserved for additional properties'
V. 83. p. 1227; V . 85. p. 404. Guaranty. V. 90. p. S b I— ( V .9 0 . p . §48.)

Leased in 1900 for 9 9 years to the New York Central & Hudson River RR
for guaranteed rental of 8 % per annum on the $25,000,000 stock, payable
quarterly (Mch. 30, Ao.), organization expenses. Interest on bonds, taxes
expenses of maintenance, Ao. The B A A . received for certain propertv
not Included In the lease $5,500,000 in N. Y . Central 3 4 4 % 100-ycar deben­
tures thus adding .77% Per a^num to 8 « % guaranteed on stock. Seo lease
In V. 69, p. 282; V. 69, p. 1061,1102, 1246, V. 70, p. 74; V. 71, p. 645, 963.
BONDS.— The $11,500,000 25-ycar 4% Impt. bonds are guar, prin and
Int., by Now York Central A Hudson River RR. No mortgage can bo
placed on the property without Jointly Including the bonds in the lien
162f?’ P' 1099: V ’ 89’ P' 102: V ' 91' p ' 396' V - 94. p. 277. 1 0 5 5 .1 3 It)!
In July 1913 sold $2,015,000 25-year 5% bonds for impts. and $3,627 000
60-year 5s dated Oct. 1 1913, to refund 4s due Oct. I, both guar. , p . & 1 bv
N . Y . Central. V. 96. p. 563. 651. 946. 1365. 1489. 1838- V. 97 n 183M
In June 1916 all bonds Issued since the loaso to the N . Y . C & It R h r
Co. had been guaranteed (prin. and int.) by the lessee.
D IVID ENDS.— Since 1900. 8 J i% . viz.: 2 % each In March and Sept
2 44% In June and 244% In Deo.
E A R N IN G S.— Report 1915 (V. 102, p. 602).
O th e r
In com e.

In ter es t,
D ie s ., A c .

B a la n c e ,
S u r p .o r d e f.

1 9 1 5 .............. $17,695,865 $4,966,055 $359,689 $4,543,750 sur.781,994
1914............... 16,491,442
3,431,018 351,393
4,692,766 def. 910,356
— (V. 98, p. 154; V. 99, p. 536,1831; V. 100. p. 228,1078' vY 10SL p. 6 o £ )

BOSTON & LOWELL RR.— ROAD.— Owns Boston to Lowell, 26 milesbranches— Salem and Lowell, 17 miles; Lowell and Lawrenoe 12 miles"
others, 45 miles; Middlesex Central, 11 miles; leases— Connecticut & Pas•umpslo, 146 miles; Nashua & Lowell, 15 miles; Peterborough 10 miles
Northern N. H ., 83 miles (and subsidiary lines 90 miles); Stony Brook RR '
15 m .; Wilton R R .. 13 m. Leases mostly assumed by Boston & Maine"
Merger with that company (which see) was planned in Feb. 1916
*
Leased In 1887 for 99 years to the Boston & Maine at 7% per annum on
etock till Jan. 1 1897 and 8 % thereafter. V. 95. p. 1330. Tho stockholders




4

4 X
5

5

F
A
J
M
J
J
A

N May
A Feb
S Mch
J Jan
J Jan
0 Apr

1 1961
1 1924
11957
1 1928
1 1928
1 1923

Central Trust Co, N Y
Columbia Trust Co
Equitable Trust Co, N Y
F I T & S D Co, Phila
Reg Bloomsburgh.wh ear
U S M A Tr. N Y ; A S F

A A Aug 1 1951
New York
J— M Juno30, T 6 2H Office, Term Stat’n, Bost
A O Apr 1 1952
do
do
A J Jan 1 1951
do
do
A N May 1 ‘33-34-35
do
do
A J July 1 1937
do
do
& J July 1 1938
do
do
& O Oct 1 1963
do
do

M ile s .

L i n e s l e a s e d — (C o n c l u d e d ).
M ile s .
a458
FItohburg ............
Nashua & Lowell..............................a l5
Connecticut River R R __________ a81
Other — ........................
39
Trackage rights________
29

Total operated July 11915_____ 2.302
2d track (3d A 4th track, 10) 591
Controls:
St. Johnsbur7 A Lake Champ. 125
York Harbor A Beaoh____
12
24
Vermont Valley.......................
Sullivan County______________ 26

&JVlii?nd a

BIRA1INGHAM & SOUTHEASTERN R Y .— Owns Union Springs to
Eclectic, Ala., 48 miles. V. 94, p. 1316. Stock. $700,000. First 6 s of
1911, V. 93, p. 43; V. 94, p. 1316. Year ending June 30 1914, gross. $135.­
604; net income, $51,738; int.. taxes, & c - $49,705; bal., sur., $2,033. In
1914-15, gross, $96,778; net, $32,311. Pres., W . M . Blount, Union
Springs, Ala.— (V 94, p. 1316.)

B X f S V v i i : S81W >0Ck' ,250’°°0:

M A
F &
M A
J A
J A
A A

Grand CentTermlnal.NY
do
do
do
do
Grand CentTermlnal.NY
do
do
( ) 8 M 4 T r Co. N Y ;A S F
Co’s office, Indianapolis
do
do
Nat City Bank. N Y
Mercantile Tr & Dep,Balt
Safe Dep & Tr Co, Balt
Broad St Station, PUlla
do
do
do
do
do
do
do and Bk Com.NY
Mere Tr A Dep Co, Balt
Home Tr Co, Hobok, N 1
do
do
do
do
do
do
HomeTrCo,Hoboken,NJ.
do
do
do
do
Union Tr Co, Pitts, Pa

M E R G E R .— Under plan of Feb. 1 1 1916 (V. 102, p. 711,
799) tho holders of nearly 99% of the $13,300,000 outstanding notos ex­
tended their notes to Juno 2 1916, and in M ay over 9744 % granted a further
extension to July 17 1916, with interest discounted at 6 % , to allow oppor­
tunity to put tho system on its feet by means of an assessment on the stock
mor8 °r of the company with its principal leased linos,
(v . 1 0 2 , p. 885, 2076).
. T h e merger plan as presented to tho board on M ay 23 1916 (V. 102. n
1987) called for tho formation of new “ Boston A Maine R R . C o ." which
Issue: (a) $39,505,390 common stock to replace tho $39,509,390
B. A M . common on basis below stated; (6 ) $4,519,000 2d pref. non-cum.
stock, of which $3,149,800 6 % to retire B. A M . prof, and $1,400,000 as
part consideration for Hampden R R .: (c) first pref. stock, $57,539,900, as
follows: ( 1 ) $17,062,000 6 % , for cash; (2 ) 31,660,000 5 % as part considera­
tion for Hampden RR.; and (3) tho remainder for stock of such leased iines
(other than B. & M . holdings) as shall assent practically $ for $ and being
substantially the same intorest rate as the old shares, viz. ' Fitchburg
preferred, 5 % $18 860,000: Boston & Lowell, 8 % , $7,117,500; Concord
& Montroal, 7 % , 37,917,100; Conn. River, 10% , $3,233,300; Lowell A
£,n^RX°L.
>03,750; and SO, 3531,250; Manchester A Lawrence, 1 0 % ,
$1,000,000; Kennebunk & Kennebunkport, 4 4 4 % , $65,000.
'°

BIRMINGHAM & NOR TH W ESTER N R Y .— Jackson, T e n n - north­
westerly to Dyersburg, 49 milos. Entire stock ($300,000) and bonds
($800,000) were deposited as security for $450,000 3-year collateral trust
gold notes of the Blrm. & Northw. Co. (or Dela.), guar. prin. & Int. by
Mercantile Trust Co. of Jackson, Tonn. Those notes wero paid March 1
1916. V. 96, p. 1295. Year 1913-14, gross, $127,940; not, $56,540; bond
Int., $40,571; bal., sur., $15,969. In 1914-15, gross, $101,839: not, $5,758.
Pres., A . B . Tlgrett; Vice-Pres- O. W . McNear; Sec.. R. F. Spragins
Treas., J. E. Edenton. Office, Jackson, Tenn.— (V. 102, p. 608).

BOCA & LOYALTON R R .— See page 145.

5g
3 K
3 X

L in es ow n ed .

BIRMINGHAM & AT LA N T IC R R .— See page 199.

BOONVILLE ST. LOUIS & SOUTHERN R Y.— Boonville to Versailles
M o., 44 miles. In June 1911 sold to Missouri Paciric, $500,000 1st 6 s

500,000
25.000.000
3.858.000
1 .0 0 0 , 0 0 0
13.500.000
1 ,0 0 0 . 0 0 0
2,015,000
3.627.000

g
g
4 g
5
5
6 g

6
6

Boston, Mass., to Rigby, Mo­
vie Dover.........................................i n
Boston to Portland, via Portsm. 105
Jewett, Me., to Intervale, N . H_ 7 3
Portsmouth Electrlo R y.............. 18
Portland J ot- Me., to Worces­
ter, Mass.................
13 9
North Cambridge to Northamp­
ton, Mass__________________
96
Sundry branches................................ 1 8 3
L in e s lea sed ,
a See this company.
Boston & Lowell........................... a469
Conoord & Montreal___________ a479

Nav. bonds. V. 77, p. 1228; V . 76, p. 1358; V. 82, p. 160. For year end­
ing Dec. 31 1915 (205 miles), gross, $9,876,393; not, $4,821,237; other in­
come, $294,925; int., rentals, &c., $2,966,629; divs. (150% ), $750,000;
bal., surplus, $1,197,319.— (V. 94, p. 1694; V. 102, p. 1986, 2165.)

BLOOM SB UR Q & SULLIVAN RR.— Owns Bloomsburg to Jamison City,
Pa., 29 miles. Stock Is $600,000; par, $50. V. 6 6 , p. 80, 952.
Year to
gr°p3, « 7 8 r'L J:
other Income, $424: charges,
IJO.lOOl^baL^ d e f- $7,552. In 1914-15, gross, $77,464; not, $24,615.—

511.000
155,000
1,940.000
247,600
199,600
412.000

P la ce s W h er e In ter es t a n d
D iv id en d s a re P a y a b le

BOSTON & MAINE RR.— R OAD.— The system with Its many branoh
lines covers the territory from Boston, Mass., to Portland,Me. (two lines),
Springfield, Mass., Sherbrooke, Can., Rotterdam Jet. and Troy, N . Y .
Worcester, Mass., to Portland, Me., and most of New Hampshire.

Erie R R ., Bessemer, near Pittsburgh, Pa., to Conneaut Harbor, Lake Erie,
A c - with branches and spurs, a total of 247 miles, for 999 vears, from Apr. 1
1901: owns 9 miles; total, 256 miles,. V. 72, p. 137. Stook. auth., $500,000

O p er. In c.
(a fte r T a x e s ) .

L a s t D iv id en d
a n d M a tu r ity

on Jan. 5 1916 authorized $1,385,000 20-year bonds to retire notes, A c.
V. 101, p. 2143.— (V. 101, p. 2143; V. i02, p. 152, 521,711; V. 102, p .1986.)

BESSEMER & LAKE ERIE RR.— Leases Pittsburgh Bessemer & Lak*

O p e ra tin g
R even u es.

W h en
P a y a b le

%

$50 $ 6 ,0 0 0 , 0 0 0
1
Q - ■J July 1 1916 1%
6 ,0 0 0 . 0 0 0
1,0 0 0
1 & J July 1 1936
1X
I
1 ,0 0 0 . 0 0 0
5g
1.0 0 0
4c ,T July 1 1936
1,000 Ao
3.500,000
3 H « \ * () Apr 1 1951
3,964.000
& O Apr 11955
1.000 Ao
A
i g
581,000
5 (? J A n Deo 1 1932
1,0 0 0
1,500.000 131M915
50
Apr 1 1916 3%
y—j
50
500.000
y — J Apr 1 1916 144
1,0 0 0
1 ,0 0 0 , 0 0 0
M & N May 1 1939
1 i
1.0 0 0
300,000
5
J & J July 1 1945
1.0 0 0
245,000
5 g
J & J July 1 1941
50
1,253,000 See text yearly Deo 31 T3 6 %
1,0 0 0
500.000
M A S Sept 1 1925
i
1,0 0 0
749,000
F A A Feb 1 1927
4
1.0 0 0
364.000
J A ,1 Jan 1 1933
4
1,0 0 0
972,000
A J Jan 1 1943
3H « J
1,0 0 0
150,000
5 x
J A J Jan 1 1941
1,0 0 0
1 .2 2 0 . 0 0 0
\l
5
fc S Mch 1 1922
1,0 0 0
1,060,000
A A o Apr 11925
S
1,0 0 0
1 ,10 0 ,0 0 0
5
M A s Moh 1918-1927
1.0 0 0
300.000
5
A A o Apr 11919
1,0 0 0
550,000
5
M A s Mch 1922-1932
1,0 0 0
950.000
5
J & D June 1923-’34
1.0 0 0
2.500,000
J & J July 1924-1934
5
1,0 0 0
3,600,000
M & N M ay 1918-1932
5

BENNETTSVILLE & CH ERAW R R .— Owns Kollocks, S. C .. on Sea­
board Air Lino, via Bennettsvillo and Brownsville, to Sellers on Atlantic
Coast Lino, 15 miles. Purchased by present owners about March 1907.
Stock. $250,000. Dividends in 1912, 6 % ; 1913, 3 % ; 1914 and 1915, 5 % .
Bond sink. fd. $3,000 yearly . Loans and bills payable June 30 1915. S5.297.
V. 92, p. 116. Year 1914-15, gross. $85,469; net, after taxes, $33,450;
int. on bonds, &c., $15,745; divs. (5 % ). $12,500; bal.. sur., $5,205. Pres.,
W . R . Bonsai; Sec. & Treas., Geo. Burchifl. Office. Benncttsville,
~
..........
~ O.
~
S.
— (V. 92. p. 116.)

C a le n d a r
Y ea r

R a te

A m ount
O u ts ta n d in g

to

4.8
48
5.9
29,
29j
56

P ar
V a lu e

CO

Birmingham Belt— See St Louis & San Francisco
Blrm'h & Southeas— 1st M $3,000,000 g red 107 H.Cex
General and eqt M gold red 101 $1,500.000___ Col
Birmingham Terminal— 1st M $3,000,000 gold guar x
Bloomsburg & Sullivan RR— 1st M ........................ FPx
Second mortgage Income non-cum $ 2 0 0 ,0 0 0 ..-FPx
Boca & Loyalton— First M $675,000 gold oall llO.xo*
Boonville Bridge— See Missouri Kansas & Texas Ry
Boonvillc St L & South Ry— 1st M g gu red 107 44 -Eq
Boston & Albany— Stook ($25,000,000 authorized). . .
Bonds (not mortgage) guaranteed prln and Int---- zo
Bonds (not M) $1,000,000 (V 7 l.p 1218: V 72,p44) _z
Impt bds (not mtge) $4,500,000 due 1934 gu p & l.z
Impt bonds (not mtge) $1,000,000 guar. p. A 1 _z
do
do
do $2,015,000 gu p&l.zc*&r
Bonds (not mortgage) $3.627.000. guar p&l.zc*&r*

164
164
164
56
135
All

D a te
B onds

13

H o ld e r s o f B . &
C om m on—

M .

W o u ld
P a y C a sh .

First option------ x40% -$15,802.040
Second option.. 5 % - 1,975,255
None
Third option___
_______

A n d R e c e iv e
F ir st P r e f. S to ck .

A n d R e ta in
P r es en t S to ck .

x40%-$15,802,040
All-339,505,100
None
All- 39.505,100
None
y 8 0 % - 31,604,080

x Not exceeding these amounts, y Not less than this amount.
The plan contemplates that the holders of the prosont $3,149,800 pref
stock of the Boston & Maine shall participate upon the same basis “ so far
as tho subscription to new first preferred is concerned, as the holders of the
present common, but that the present preferred stock shall retain in tho
consolidation preference in the matter of dividends over the common stock ”
1 ho total floating debt of the B. & M . in Feb. 1916 was $13,500,000 and
of tho loasod lines $5,500,000. Tho consolidation with tho Fitchburg and
Boston A Lowell, by changing the rentals on their stock into a contingent
liability in the shape of pref. stock, and by substituting a pref. stock for tho
Boating dobt, would reduce the capital obligations on which there are fixed
charges approximately $40,000,000 and add $40,000,000 to tho financial
foundation in tho form of stock, thereby reducing tho fixed charges bv about
$2,600,000. The plan of Fob. 1916 permitted additiinal 6 % First Pref stk
subject to the restrictions of tho Mass. Act of 1915, but no pref. stock having
rights prior thereto, unless authorized by a two-thirds vote of the holders
of the First PreL stock, and then only to effect new arrangements with the
prosont sub-lessors of tho lines acquired or for improvements in which
latter case it shall not bo issued at loss than par (V. 102, p. 799 1058)
As to Boston R R . Holding Co. (owner of 5 2.9% of the stock— see that
company below).
Reports of experts on requirements of system. V. 98, p. 1691- V 97
p .1731. Report of RR. Commissioners, Dec. 14 1913. V. 97 p. 1818 1 8 2 0 *
,, The Hampden RR. Corporation, completed June 23 1913, from Spring­
field, Mass., to Bondsville, with branch to Holyoke, total 30 miles
has not been operated owing to the failure of the R R . Commission to an-

f s s f t t s r r s s g v . & K U : 395: v - " ■

v' “ •

«• «*•

The $15,960,100 Maine Central RR. stock (64%) hold by tho Boston
A Maino RIt. was sold on April 1 1914. V. 98, p. 911, 1244.
BONDS.— As to debentures seo issue of April 1895.
For extension of notos still outstanding to July 17 1916, see “ Proposed
Merger” above.
Boston A Maine guarantees Sl.328,000 first 5s of St. Johnsbury & Lake
Champlain. Also interest on $274,000 Manchester & Lawrence 4s.‘ Jointly
with Maine Central guarantees $30 0,00 0 Portland Station (now Portland
Terminal Co.) bonds. V. 93. p. 940. 1323. Under joint lease with Maine
S.e.nr^ L Portland Terminal Co. provides for int. on that co.’s 4% bonds
($4,500,000 Issued). V. 95. p. 1332; V. 96, p. 419. Loans and bills paya­
ble Dec. 311915, lncl. notes payable shown above, $13,430,310.
D IVS.— J’93. ’94-’9S. ’99. ’00-’07. ’08. ’09. TO. ’ l l . T 2 .
1913.
Common ( % ) l 8
6 yly. 644 7 yly. 6J4
6
6
5
4
1. 1. 0. 0
EA R N IN G S .— Ten months ending April 30 1916:
.

G ross.

N e t.

C h a rges.

B a l.. S u r .

............................. $42,608,110 $10,9S6,725 $9,008,329 $2,770,393
1914-15 ---------- ------------ 38,(62,508
6,976,947
8,598.190 def.741,210
Balance surplus, 6 mos. 1915. $2,227,960; 1914, $114,497.

R A IL R O A D C O M P A N IE S
[F o r abbreviations. A c . , see notes on fir s t page]
B o s & L o w — S t k a u th
B o n d s 4 0 y ears n o t m
Bonds 20
do
do
B onds do
do
B o n d s do
do
B ond s do
do
B on d s do
B onds do
do
do
B onds do
B onds do
do
Bonds do
do

[Vol . 102

RAILWAY STOCKS AND BONDS

( $ 7 ,6 7 9 ,4 0 0 ) .
o r t g a g e z _____
z _____
do
do
zo*___
do
ZC1*____
z _____
do
z _____
do
zo___
do
do
z _____
do
z c * _____
do.

M ile s
R oad

S e e d e sc r ip tio n
In " I n v e s t o r s ’
S u p p le m e n t ”
o f A p ril 1 8 9 5 .
llo s t o n & M a ln e
g iv e s a r e n t a l
g u a r a n ty fo r 9 9
years.

B o s to n & M aine— S t o c k , c o m m o n an d s c r ip -----------OB
Preferred stock 6 % non-cum ulatlve_____________ OB
Im provem ent bonds s f not mortgage or sub) to call .z
Bonds (not mortgage) for Improvement & ref.zc& r
Bonds (not mortgage) gold____ _________________ zo&r
Bonds exchanged for Fitchburg stock (V 70. p 175) >z
Bonds (not m ortgage), $ 1 ,0 0 0 ,0 0 0 __________________z
Bonds $ 2 ,000,000 (not m ortgage)----------------------------- z
Bonds (not m ortgage), 20-year______________________z
Bonds (n o tm tg c ), our___________________________zo&t
Bonds (not mortgage) § 1 2 ,0 0 0 ,0 0 0 ____________ zc&r
73
Portsm Gt Falls & Con 1st M assure________________ z
Worcester Nashua & Rooh first mortgage equallyl
f47
14 7
secured ($735,000 due 1930 and $150,000 1935)zj
_
One-year notos about $ 1 3 ,300 ,000 ext (seo t e x t ) .. z
B o s to n & P r o v id e n c e — Stock 10% guar 99 yrs Old Col
Bonds, to be secured by new m ortgage(seetext)zc*
B o ston UR H o ld in g C o — Fret stk 4 % cum red llQ .z g u
B o s to n R e v ere Beach & L y n n — Stock $ 1 ,0 2 0 ,0 0 0 — z
1st M (V 65, p 68: V 83, p 379) $ 1 ,000,000 gSBze’ &r 1 3 . 2 0
B o s to n T erm in al C o — First mortgage curr. .O il. zo&r
B r in s o n R y — Seo Savannah & Northwestern R R .
B ro w n s v ille & M atam Bridge C o — 1st M goldguarSStx
Gold bonds $100 ,00 0 guar jointly_______________N .x
6
Buffalo C r— C on (n ow 1st) MSI .0 0 0 ,0 0 0 g ln t as r e n t o ’ x
1st ret M $ 5 ,0 0 0 ,0 0 0 g red 105 sin ce J u ly ’ 1 2 -U s m x
B u ffa lo N ew Y ork & E rie— S ec E rie R a ilr o a d

Date
B onds

Par
V a lu e

$100
1892
1 ,0 0 0
’ 9 7 - ’ 98
1 ,0 0 0
• 9 9 -’01
1 ,0 0 0
1903
1 ,0 0 0
1 ,0 0 0
1905
l.O C O
1906
1907
1 .0 0 0
1900
1 .0 0 0
1 9 1 3 1 ,0 0 0 & e
1 ,0 0 0
1916
100
100
1887
1 ,0 0 0
1 8 9 2 1 ,0 0 0 & c
1 ,0 0 0
1894
1900
1 ,0 0 0
1 ,0 0 0
1901
1903
1 ,0 0 0
1 ,0 0 0
1905
1 .0 0 0 &o
1906
1 .0 0 0 A c
1909
500 * c
1877
V ar.
1 .0 0 0
1894
1 .0 0 0
1 9 13 5 ,0 0 0 & c
100
1 ,0 0 0
’ 8 8 -’93
100
100
1897
1 .0 0 0
1 8 9 7 1 .0 0 0 & c
1910
1911
1891
1910

1 ,0 0 0
1 .0 0 0
1 .0 0 0
1 ,0 0 0

A N N U A L R EPOR T.— Report 1914-15 In V . 101. p. 1182.
Earnings—
1914-15.
1913-14.
1912-13.
Passenger............................
..$ 15,502,197 $16,111,548 $16,049,174
PreiKh t .......................... ...............- ........... 27,042.879 27,912,397 28,692,689
M ali, express, &c_____ __________ . . .
4,127,973
4,136,341
3,771,644
Total operating revenues___________$46,673,049 $48,160,286 $48,513,507
Net Income (after taxes)____________ $9,983,584 $9,151,645 $9,930,596
Rentals, sinking fund, &c------------------ 7,291,485
7,878.442 7,333,588
Interest aocrued_____________________
3,026,561
3,317.945
------------------(6)188,988
Dividends on preferred stock-----------Dividends on common stock_________
______
______ (3)1,185,150
Balancedeflclt..___________________
$334,462 $2,044,742 $1,324,441
The comparison with 1912-13 Is somowhat Inaccurate.
OFFICERS.— President, James H . Hustls; V .-P . In charge of finance
and accounts, William J. Hobbs; V.-P. & Gen. Counsel, Woodward
Hudson; Treas., Herbert R . Wheeler. Directors Oct. 1914. V. 99. p. 1299.
Offico, Boston.— V . 102, p. 711, 799. 885, 1058, 1539, 1986, 2076.)

BOSTON & PROVIDENCE RR.— Owns Boston, Mass., to Providence.
R I. 43 miles; branches, 20 miles. Road Is to be electrified and fourtracked. V . 95, p. 235. Leased 99 years April 1 1888 to Old Colony R R .:
rental 10% yearly on stock, lease being modified In 1912. V. 95, P. 285
The New York New Haven & Hartford on June 30 1915 owned $524,600
stock. In May 1912 a Mass. Jaw was passed permitting company to mak#
a mortgage to secure not over $8,000,000 bonds.due In not exceeding 75
years and bearing not over 4 K % Interest, and also securing the bonds for­
merly Issued, guaranteed prln. and lnt. by N. Y . N. H . & Hartf.RR.,to
provide for electrification, additional tracks, elimination of grade crossings,
S ee.
In Juno 1916 plan in aboyanco. The Now Ilavon road Is to make a
3 mall annual contribution to cancel the bonds at the expiration of the loaso.
V . 94, p. 1249, 1507; V. 95, p. 235, 678, 817.— (V. 95, p. 235, 678, 817.)

A m ou n t
O utstanding

R ate
%

$ 7 ,6 7 9 ,4 0 0
8
1 ,0 0 0 ,0 0 0
4
4
4 1 .4 ,0 0 0
9 3 9 ,0 0 0
3H
2 5 0 ,0 0 0
3H
5 0 0 ,0 0 0
3H
C 0 0 .0 0 0
4
4
3 2 5 ,0 0 0
4
3 5 0 .0 0 0
1 ,0 0 0 ,0 0 0
4H
1 .3 8 5 ,0 0 0
5
text
3 9 .5 0 5 .3 9 1 S e e
3 .1 4 9 .8 0 0 S ee te x t
4
1 ,9 1 9 ,0 0 0
2 ,5 0 0 ,0 0 0
4
6 ,0 0 0 ,0 0 0
4 H K
5 ,4 5 4 .0 0 0
3 e
1 ,0 0 0 ,0 0 0
3 H
2 .0 0 0 .0 0 0
3H
6 0 0 ,0 0 0
3 yi
4
1 0 ,0 0 0 ,0 0 0
1 1 .7 0 0 .0 0 0
4H
1 .0 0 0 .0 0 0
4H
8 8 5 ,0 0 0
4
3 8 0 ,0 0 0
4
6
1 3 ,3 0 0 ,0 0 0
4 ,0 0 0 .0 0 0
10
4
2 .1 7 0 .0 0 0
4
2 7 .2 9 3 ,9 0 0
8 5 0 . 0 0 0 G In 1 9 1 5
4 )4 g
1 .0 0 0 .0 0 0
1 4 ,5 0 0 .0 0 0
3M
3 0 0 ,0 0 0
9 3 .0 0 0
1 .0 0 0 ,0 0 0
1 .0 0 0 .0 0 0

5 g
4
5 g
5 g

W hen
P a y a b le
J
A
A
J
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3— J
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3— J
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Text
J
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,T
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Last D ividend
and M a tu rity
J u ly 3 1 9 1 6 4 %
A p r 1 1932
O ot 19 17 & 1918
1 9 1 9 & 1921
M ay 1 1923
Sept 1 1925
N o v 1 1926
J u ly 1 1 9 2 7
A p ril 1 1 9 2 9
Feb 1 1933
M a r 1 1936
Apr
1 1913 1
M ch 1 1 9 1 3 3 %
F eb 1 1937
A ug 1 1942
Jan 1 1944
J u ly 1 1 9 5 0
N o v 1 1921
Jan 1 1923
Feb 2 1925
S ept 1 1926
A p ril 1 1 9 2 9
Jun e 1 1937
Jan
l 1 9 3 0 & ’3 5
O ct 1 1934
J u ly 17 1 9 10
J u ly 1 1 9 1 6 2 ) 4
J u ly 1 1 9 1 8
•July 1 0 1 9 1 6 2 %
J u ly 1 1 6 1 ) 4 %
J u ly 15 19 27
Feb 1 1947
Jan
S ept
Jan
Jan

1
1
1
1

1930
1931
1941
1961

Places W here Interest ante
D ividends are Payable
A t O fflq p . B o s t o n
M e ro h N a t B it, B o r to v
do
dr,
do
do
do
do

do

do

do
do
do
do
do
do
do
do
do
do
A t O ff, C a u s e w a y S t ..B o s
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
A ra er T r u s t C o , B o sto n
do
do
In t o r o s t d i s c o u n t e d
T r e a s u r e r 's o t f i e o , B o s t o n
do
do
O f f i c e , or c h e c k s m a ile r ,
S t a t e S t T r u s t C o B o sto n
M e rc h N a t io n a l B k . B o*»
S t L o u i s U n i o n T r u s t Oo
N ew Y o rk T ru st C o .
U S M ort & T r C o. N *
,
do
do

1896 control was acquired of the Jefferson & Clearfield Coal & Iron Co. (see
that co. under “ Industrials” ) with $3,000,000 stock. In 1906 the stock of
the Rooh. & Pitts. C. & I. Co. was transferred (subject to the lien of the gen­
eral mtge.) to the Mahoning Investment Co., having $4,200,000 authorized
»took,ln $100 shares. In consideration of $4,125,000 stock, the latter being
distributed Deo. 1906 pro rata In proportion of 25% among the holders of
Ry. common and pref. stocks. V. 83, p. 1468: V. 85, p. 414, 415; report,
V. 100, p. 922. For bonds of these coal companies see inlscel. cos. Clear­
field & Mahoning securities aro guaranteed.
DIVS.— / ’02. ’0 3 .’04-'06. ’07. ’0 8 .’0 9 .’ 10. ’l l . '12. ’ 13. ’ 14. ’ 15 ’ 16.
C o m m on ..% i 4 5 H 6 y’ly 5 H 4 H 4 4
5 514 6 5,
4
2Mahoning investment Co. (seo above) paid on Its stock In 1907, 2 % ; in
1908, 4 % ; 1912 and 1913, 3 % : 1914, 2 1 4 % ; March 1915, none. V. 88. p.
685; V . 94, p. 419; V. 99, p. 233, Compare above, V . 85, p. 283.
BONDS.— General 5s for $5,573,000 aro reserved for prior bonds, &o.
The $35,000,000 50-year consols are to bear not over 414% lnt.. $3,000,­
000 were issuable at once, $18,145,000 to retire underlying obligations at
or before maturity and the remaining $13,855,000 to be reserved for future
requirements at not over $1,500,000 yearly, or such larger amount In any
year as stockholders may authorize. In Dec. 1914 $1,020,000 additional
consols were authorized to bo issued for Improvements, making a total of
$11,112,000 outstanding, of which $1,400,000 aro still In the troasury.
V. 84, p. 867, 1306: V. 85. p. 39, 414; V. 86. p .3 3 6 ; V. 87, p. 1009: V. 90,
p. 371, 558; V . 91, p. 400, 588; V. 95. p. 361, 749: V. 98. p. 999, 1070.
1155,1315; V . 99. p. 118. 1748; V. 100, p. 228.
,
,
„ „
E q u i p m e n t Bonds. — A sinking fund of 5 % will retire scries A , B & C
equipment bonds annually on May 1, If purchasable at or below par; other­
wise to be applied to the purchase of additional equipment. V. 68, p. 1131:
V .71, p .501; V .7 3 , p .348. Series D and E have an annual sinking fund of
6% for purchase of bonds Sept. 1 and May 1, respectively, at 105 and lnt.; if
not purchasable, bonds may be drawn by lot. Series D & E may also be called
as an entirety at 105. Series F may bo purchased by sinking fund at not
over par or drawn by lot at par and may also be drawn at 102 and lnt. on
any lnt. day. V. 84, p. 1365: V. 85, p. 283, 414, 863. Series G have an an­
nual 6 % sinking fund to retire bonds at par and lnt.; If not purchasable,
bonds to be drawn by lot. V. 89, p. 468; V. 01, p. 400; V. 93, p. 1785, 939;
V. 9 4 . d . 122: V. 97, p. 364. Series 11 aro limited to $2,000,000, maturing
$125,000 yearly Jan. 1 1915 to 1930. V. 97, p. 1582; V. 98, p. 1459.

BOSTON RAILROAD HOLDING CO.— Incorporated In Massachusetts
June 18 1909 under special Act with power to hold securities of Boston &
Maine. The N . Y . N . H . & Hartford owns $3,106,500 common stock.
Owns $21,918,900 common ana $654,300 pret. stock or the Boston & Me .
or 52.9% of stk.. for which has been Issued $27,293,900 non-voting 4%. cum.
pref. stock, redeemable at 110, guar., prln. & dlvs., by endorsement by the
E A R N IN G S .— 10 months July 1 to April 30:
_ . _
$24,493,900. V. 93. p. 870, 1461; V. 94, p. 205; V . 95, p. 968.
Gross.
N e t.
O th er I n c .
C h a rges.
B a l., S u r .
In March 1914, under order of court to divorco the system, the B. & M .
$9,820,407
$2,546,213
$835,874
$1,779,097
$1,602,990
1915-16............
stock was transferred to five trustees, viz.; Marcus I>. Knowlton and 1914-15............ 7,808,832
1,833,953
597,747
1.774.317
657,383
James L. Doherty of Springfield, M ass.; Henry B. Day and Charles P.
Hall of Boston; Frank P. Carponetr of Manchester, N . II.. with orders to
AN N U A L REPORT.— Fiscal year ends Juno 30. Tho annual mooting
Bell the samo beforo Jan. 1 1917. As to proposed reorganization of B. & M . I s held at New York on tho third Monday In Novombor. Tho roport for
in Fob. 1916, see that company above. V. 99, p. 47, 120, 198, 270, 487,
1914-15 was given a* length In V. 101, p. 522, 533, 369.
.
1129, 1221; V. 98, p. 234, 999; V. 92, p. 117. 185, 259, 460; V. 90, p. 1612.
------------ N e w B a s i s -------------------------- O l d B a s i s -----------Pres., Marcus P. Knowlton.— (V. 99, p. 1213.)
Y e a r e n d i n g J u n e $0.
1914-15.
1913-14.
1912-13.
1911-12.
BOSTON REVERE BEACH & LYNN RR.— Owns narrow-gauge road OpCTati^ rovenue . . $9,479,936 $10,734,691 $10,947,246 $0,542,368
7.165,849 8,199,117
7,889,266
6,668,221
from Lynn to East Boston, Mass., 9 miles, connecting with Boston by com­ Opor. expenses & taxes.
pany’s ferryboats; East Boston to Winthrop, 5 miles: a wo Winthrop to
Operating Income____ $2,314,087
$2,535,574 f ? , 057,990 l o ’§ I o ’io I
Point Shirley, 1 mile. V. 94, p. 982; V. 95, p. 1121, 1402.
Not (lncl. other Income)
$3,032,733 $3,355,798 $4,076,708 $3,653,725
D IV ID E N D S .—
( ’97-’05. ’06. ’07. ’08-’ 10. ’ l l . 1912 to July 1916.
R entals_________
681,023
688,389
693,804
674.517
4
5 Oyly. 7 K 6 % yly. (1>3%Q-J)
Sinco 1894____________ \ 2 yly.
1.438.990
1,312.624
1,255,910
1,208,314
lnt.
on
bonds.
&c............
Yr. end. J u n e 30— Cross.
Net. Int.&taxee.
Divs. paid. Bal..sur.
Miscellaneous__________
21,509
16,433
1,497
. 4’
l 6 ..... ............. $951,083 $136,870 $74,772
(6%)S5l.OOO $11,097
New equipment_______
65,414
74,104
125,790
125,000
14.................. 1,009.283
130.301
68.599 (6% )51.000
10.702
KquIpToonds retlrod___
45,797
274,247
323.000
250,000
Notos and bills payablo as of Juno 30 1915, $225,940.— (V. 98, p. 154, IMv. on pref. stock (6% )
360.000
300,000
300.000
385, 1844.)
D lv. on com. stock..........(4)420,000
(6)630.000
(6)030,000 (5)525,000
BOSTON TERMINAL CO.— Owns Southern Union Dopot in Boston,
Balance, surplus_____
______
______
$680,701
$506,330
opened in 1899. V . 68, p. 40; V. 69. p. 591. N . Y . Central (Boston & Al­
bany), Boston & Prov., Old Colony and N . Y . N . II. & Hartford RR . cos.
In 1913-14 carried 8,176,430 tons of bituminous coal (out of 12,295,049
own the $500,000 capital stock and pay as rontal in monthly installments total tons of freight moved), against 7,980,204 in 1912-13.
sums sufficient to pay all expenses, charges, interest on bonds and 4 % on
OFFICERS.— Pres., W m . T . Noonan: V .-P ., Adrian Iselln Jr. and
stock. These companies aro jointly liablo for any deficiency in caso of
W . Emlen Roosevelt, N. Y .; Treas , J. F. Dinkey, Rochester: Seo. and
foreclosure. Reg. lnt. Q .-F .; coup., F. & A .— (V. 93, p. 1598.)
Asst. Treas., Ernest Iselln, N. Y .
BROWNSVILLE & MATAMOROS BRIDGE CO.—Owns International
Directors— Henry O. Barbey, A . Iselln Jr., W m . E. Iselln, Walter G.
steel bridge over the Rio Grande River between Brownsville. Tex., and
Matamoras, M ex., connecting St. Louis Brownsville & Mexico Ry and Oakman C. O’ D. Iselln, W . T . Noonan, George Emlen Roosevelt, W . Em­
National Rys. of Mexico. Stock, $500,000, one-half owned by National len Roosevelt, Ernest Iselln. O’Donnoll Iselin, Oscar Grisch, Samuel W oolRys. of Mexico and the other by St. Louis Brownsvillo & Mexico R y., which verton; Hamilton F. Kean. N . Y . office. 36 Wall St.— (V. 102. p. 1625.)
Jointly guaranteo both classes ;,of bonds. 1st M . $333,000 auth. See
BUFFALO & SUSQUEHANNA R AILROAD CORP.— (Sea M an.)—
National Rys., V. 94, p. 277.
Owns from Sagamore, Pa., to Wellsvllle, N . Y ., with several branch linos
BUFFALO CREEK RR.— Owns 6 miles of terminal road In Buffalo, N .Y . lncl. 15 miles trackage. Total mileage, 252. Incorp. In Pennsylvania and
In Deo. 1889 leased for term of oharter less one day to the Lehigh Valley and succeeded Dec. 31 1913, por plan V . 97, p. 1503, tho B. & S. R R . , foreclosed
the Erie R R ., which together own entire capital stock of $250,000. Rental Dec. 5 1913. V. 97, p. 1582; V. 93. p. 1596. For description of property
fe lnt. on bonds and 1 % on stock. Of the 1st ref. bonds $1,000,000 arc see annual report for 1914 in V. 100, p. 1007: also p. 980.
Connectsat
Issuable to retire the old 5s. V . 92, p. 259, 593: V. 93, p. 43.— (V . 9 3 .p A 3 .)
Wellsvillo with Wellsvlllo & Buffalo R R . for Buffalo.
BUFFALO ROCHESTER & PITTSBURGH RAILWAY.— (See M a p . ) —
STOCK.— Authorized (par $100), common. $3,000,000; ■4% prof. (n. &
Operates from Buffalo and Roch.. N. Y ., to bituminous coal regions.
d .) , cumulative after Jan. 1 1915. $4,000,000. W ill be held in voting trust
T r a c k a g e (C o n c l u d e d )—
M ile s .
L in es ow n ed in fe e —
M ile s
for not over 5 years; P. G . Bartlett and J. S. Karleo of N . Y . and Edward B.
Willow
Grove
to
Pittsburgh,
P
a.
7
Buffalo Creek, N . Y „ to Mt.
Smith. Phlla.. voting trustees. Listed in Philadelphia. V. 100. p. 1591.
Jewett, Pa______________________ 98 Penn. R R .— Penn. R R . Jet. to
P r e f . D i v i d e n d s P a i d . — N o. 1 . 2 % , July 15 1915; No. 2, Jan. 15 1916.
Shuman Run Y . Pa_____________19
Clarion Jot. to Lindsey, Pa______ 59
Hoohestar to Ashford, N. Y _____ 94 Other____________________________ 7 N o. 3. July 15 1916. V . 101. p. 1884.
L e a s e d — S t o c k not o w n e d —
Charlotte, N. Y ., to Lincoln Park 10
BONDS.— The first M . bonds ($10,000,000 auth.) aro secured on the en­
idlana Branch___________________70 Allegheny & Western— a
tire property and further by deposits of mortgages aggregating$1,299.913
Punxsutawney to Butler, Pa..
even branches___________________36
on ooal lands of tho Powhatan Coal & Coke Co., and of a socond mortgage
&o____________________________ - 63
T ra eka ge—
for $1,300.000 on tho properties of tho Buffalo & Susqouhanna Coal & Coke
Erie— Mt. Jewett to Clarion Jot. 21 Clearfield & Mahoning— a
Co. and of all the stock of tho Addison & Susquehanna RIt. and all the
Glearflcld to Beech Creek R R ..- 26 stock and bonds of the Wellsvlllo Ooudersport & Pine Crook R R ., and of all
B .& O,— Butler, Pa., to Newcas. 41
_______________________
. . Mahoning1Valtoy R R ------------------ 3 the stock of tho Keystone Store Co. V. 73, p. 619, 899: V. 84, P- 748.
Ribold
Jet. to Allegheny C ity. 33
Total June 30 1915 ( a See separate statement for this company)___588
Of tho bonds, $6,959,000 have been Issued. Tho remaining $3,041,000
ORGANIZATION, ETC.— Successor In March 1887 to the Rochester & bonds, or any of them, may bear not to oxceed 5 % Interest and can be Issuod
only for additions, extensions, improvements, acquisitions of property or
Pittsburgh, which was foreclosed In Oot. 1885, per plan In V. 41, p. 516.
The entire capital stock ($4,000,000) of the Rochester & Pittsburgh Coal acquiring or discharging liens on proporty or corporations In which 90% of
& Iron Oo. was owned (V. 66, p. 1088) and through that company In May stock U owned. Sinking fund for redemption of bonds at not to exceed par

m

S




June, 191G.J




RAILWAY STOCKS AND BONDS

15

[V ol . 102

RAILWAY STOCKS AND BONDS

16

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

Miles Date
Road Bonds

Par
Value

Amount
Outstanding

Rate
%

When
Payable

Last Dividend
a n d Maturity

Places W h e r e Interest ana
Dividends are Payable

$100 $10,500,000 4 in 1915 F As A Fob 15 1916 2 36 Wall St, New York
Buffalo Rochester & Pittsburgh— Common stock.-Tr
do
do
6,000.000 6 In 1915 F Sc A Feb 15 1916 3
100
Pref stock non-cum common 6% then pro rata_.Tr
do
do
F Sc A Feb 1 1921
1,300,000
6 g
R & P 1st M gold Rochester to Salamanca. Un.zo*
109 1881
1.000
do
do
J & D Deo 1 1922
1,000
3,920,000
234 1882
6 g
Rochester & Pittsburgh c o n M g ..................U n .zo*
do
do
M <fc S Sept 1 1937
4,427.000
5 g
1,000
B R & P first gen mtge ($10,000,000) gold..Un.zo*
253 1887
do
do
J As J Jan 1 1939
350.000
1,000
5 g
10 1889
Lino P Ao Chari 1st M gold guar------------------- Un.zo*
do
do
444 g M & N May 1 1957
B R * P consol mtge $35,000,000 gold_.Ce.x.o* Asr
367 1907 1,000 Aso Sec text
do
do
2,392,000
Equipment bonds A B Ac C, each gold s f ________Gx
1,000
‘99-01
4 44 g M A: N May 1919-20-21
do
do
613,000
do
do D $2,000,000 gold red 105 sink fundx
1902
1,000
444 g M A; N Nov 1 1919
do
do
do
do E $2,000,000 gold red 105 sink fundx
924,000
1904
1,000
444 g M As N May 1 1922
do
do
do
do F $3,000,000 gold red sinking fund.x
1,599,000
1907
1,000
444 g A Ac O Apr 1 1927
do
do
A As o Oct 1 1929
1909
1,000
2,276,000
4 g
do
do G $3,000,000 gold Sinking funa Gxc*
do
do
J & J Jan '17-Jan '30
1,000
1,750,000
5g
do
do II gold $125,000 due yly text.G.xc*
1913
100
4,000,000 See text See text July 15 ’ 16. 2 %
... —
Buffalo & Susq RR Corp— Pref stock 4 % cum..........
E . B . Smith Ac Co., N . Y .
J & J Dec 30 1963
First mortgage $10,000,000 gold--------------------- Eq.x
100 S e e
6,959.000
4 g
Harris,Forbes Ac Co, N Y
j
As J To July 1916
1.000
5
Equipment trust bonds $43,000 due seml-an.Usrn.c
43,000
1906
F Sc A Aug ’ 16-A ug’ 17 Columbia Trust Co, N Y
1,000
135.000
5
do
do
Ser C (V 85, p 283) $45,000 s-a.PeP
1907
K Sc A Aug '1 6 -A u g ’ 17 Penn Co for Insur, Ate.
1.000
do
do
Ser D $15,000 semi-annually.
1907
5
45.000
May 1910 coup not paid
1903 1,000 Ate
6.000,000
444 g M Sc N Apr 1 1953
Buff & Susa Ry— 1st M $6,000,000 g ------- Us.c*Acr
Harris. Forbes Ac Co, N Y
A Sc O To April 1917
1.000
6
Equip, tr. bds. Ser B (V 85, p 39) $27,000 s-a. Usm
1907
54.000
Bullfrog-Goldfield RR— See Las Vegas Ac Tonop Co
Burlington Cedar Rapids & Northern— See Chicago R ock Isi and & Pacific R y.
Burlington & Missouri Valley— See Chicago Burlingto n As Q ulnoy.
Guaranty Tr Co, N Y
F Ac A Feb 1 1944
3.000.000
Butte A & P— 1st M $5,000,000 g gu red text.yc*Acr*
138 1914
1,000
5g
See text
M Cc 8 Mob 1 1961
1.000
1,699,000
4
Cairo & Thebes RR— First mortgage........................ .x
25 1911
California Pacific— See Southern Pacific RR.
Anglo-Cal Tr Co, San Fr
A & O Oct 1 1934
See text
6
51 1914
Cambria & Clearfield— See Pennsylvania RR
Girard Trust Co, Phlla
M & N Duo serially
1.000
753,000
26 1911
5g
Cambria & Indiana RR— 1st M gred 10244 GPxc*Atr
J A J July 1916 3% Broad St Station, Phlla
25
30
6
Camden & Burlington County— Stock 6% guaranteed
502,275
do
do
A Fel) 1 1927
1,000
F
First M g gu p Sc. i bv Un N J RR Sc Can Co.tiP.xo*
30 1897
350,000
4 g
MicliTrCo, GrRap.Mlch
A Ac O Oct 1 1921
100.000
6
Camino Placerville & Lake Tahoe R R — 1st M -----8 1911
100
Canada Atlantic— See Grand Trunk Ry
Royal Tr Co, Montreal
J Ac J 1930
1,000
740.000
5g
36 1910
Canada & G ulf Terminal Ry — 1st M $740,000 gold
_
F A; A Aug 1 1916 W i Grand Cent Term, N Y
100 15.000,000
3
do
do
A & O Oct 1 1962
Cons guar gold bonds (1st M on main line) G.zc*&r *
380 1912 1.000 Sec 22,500,000
5 g
Agts Bk of Montreal, N Y
A Ao O Oot 1 1945
14 1895
1,000
Leamington Sc St Clair 1st M g gu p Sc 1 (end)..zc*
130,000
4 g

and int., $50,000 per ann. for 35 years; also all sums In excess of $50,000 per
ann. received on account of principal of any mortgages held as collateral
under such mortgago and any further payments authorized In case of Issue
of further bonds or otherwise. Bonds retired through operation of the
sinking fund to be held alive. To Feb. 1 1916 $235,700had been retired.
V . 97, p. 1503; V. 98, p. 1765; V. 100, p. 980, 1006.
BUFFALO & SUSQUEHANNA COAL & COKE CO.— This company
the $1,300,000 2d M . 5 % bonds of which are owned by the B. At S. R R .
Coro., owns coal lands at Du Bols, Onondaga and Sagamore, Pa.
Six mines In operation. V. 77. p. 1301: V. 79, p. 2091-92; V. 82, p. 1322;
V . 85, p. 1266. 1st M . 5 % bonds, $1,500,000. nold by public.
PO W HATAN COAL & COKE CO.— This company, all of whose bonds
are owned by the U. & S. H R . Corp,, owns coal lands at Tvler and at
Sykes. Its coking plants have a capacity of 800 tons of coke daily. Keystone
Store Co., stock $50,000, all owned by R R . Corp.
E A R N IN G S.— For 4 months Jan. 1 to Apr. 30:
G ross.

N e t.

O th e r I n c .

C h a rges.

B a t.. S u r .

1 9 1 6 ............................... $567,468 $137,178 $170,192
$98,584 $208,786
34,074
122,911
104,404
52,581
1 9 1 5 ............................... 450,332
R EPO R T.— For cal. years 1914 and 1915 (compare V . 100, p. 1006;
V . 102, p. 436):
____
1915.
1914.
1915.
1914.
$
S
$
$
Operating revs..1,532,863 1,446,196 Int. 1st M . b on d s..270,015 278.360
do equip, oblig’s 15,051 29,675
Net (after taxes) 292,267
128,294
A d d — Hire equip 214,020
206,454 Rents, &c__________ 28.028 24,315
Invest’ ts, Ate. 189,529
157,968 Preferred dlvs..(4)_160,000 ---------Total net............ 695.816
492,716 Balance, surplus___222,722 160.366

V. 102, p. 65. Operated under lease by Penn. R R ., which guarantees 6 %
on stock. In 1915, gross, $287,194; op. dof., $1,100; loss to lessee under
rental, $27,087.— (V. 101, p. 46, 1092.)
CAMINO PLACERVILLE & LAKE TAH O E R R .— Placcrvillo to
Oamino. Cal., 8.05 miles. Stock, $100,000. Bonds, see table. Year
ending Juno 30 1915. gross. $24,328; dof, $342: other incomo, $105. Pres,
and Gen. M gr., C . D . Danaher, Camino, Cal.; Sec. and Treas., G . L .
Chamberlain. Office. Camino. Cal.
CANADA & GULF TERMINAL R Y .— Owns Ste. Favle to Matano,
Quo., 36 miles. Stock authorized, $4,000,000; par $100. Bonds, see
table. Pres., M . J. O'Brien, Montreal, Que.; V.-Pros., II. J. Lyons,
Matane, Que.; Sec.-Treas., F. W . Rous. Montreal, Quo.
CANADA M ICH. & C H ICAG O .— Bonds worthless.— (V. 63. p .8 3 8 .)
CANADA SOUTHERN R Y .— (Sec M a p s N e i o Y o r k C e n t r a l L i n e s . ) —
ROAD.— Main line from Suspension Bridge station. Including the Cantilever
Bridge, to Windsor. Ont.. 226 m .; branches to Courtright, Ont., S e e . , and
controlled lines, 154 m .; total, 380 m.; Cauada So. Bridge, 245 m. Track­
age, St. Thomas to London. Ont., 15 m. Doublo track, 242 ml las.
ORGANIZATION, ETC.— The company was chartered In Canada
Feb. 28 1868 and debt readjusted in 1878. In 1903 made a new lease to
Mich. Cent, for 999 years, the latter, which owns $7,810,000 stock, guaran­
teeing divs., rate since Jan. 1 1 9 1 1 .3 % yrly. V .7 6 , p. 1191, 1247.
In Juno 1916 had arranged to join with othor roads in guaranteeing
consol. 1st M . bonds of Toronto Hamilton At Buffalo Ry. (which soo).

The M?ch. Cent, guarantees, prin. and Int. of $40,000,000 60-year bonds.
Int. not to exceed 6 % , of which $22,500,000 5s were sold to refund the
$14,000,000 6s and $6,000,000 5s maturing Jan. 1 and M ch. 1 1913, respec­
tively, and to cover the cost of Improvements made and to bo made. The
remaining $17,500,000 are reserved to refund the $130,000 divisional bonds
D IRECTORS (and Officers).— E . R. Darlow (Pres.), Edward B. Smith and
for additions, extensions, improvements and additions at not over
(V.-Pres.), Philip G. Bartlett, Radcliffo Cheston Jr., Herbert H . Dean, $3,000,000
yearly. Bonds arefree of Canadian taxes. V. 95, p. 1607, 1744;
Jacob S. Farlee, Frank E. Hall, Percy C. Madeira, W . Hincklo Smith, V. 96. p. 134, 200, 789, 1421.— (V. 96. p. 553, 789, 1421, 1884, 1972.)
Julius F. Wurkum, Charlton Yarnall and Albert L . Smith, J. Rutherford
CANADIAN NORTHERN R A IL W A Y SYSTEAL— [ S e e M a p . ) — Oper­
McAllister. F. E. Hall is Sec. & Treas.— (V. 102, p. 436.)
ates from Winnipeg to Vancouver, B. C ., with branches in tho Provinces of
B U F F A L O & S U S Q U E H A N N A R Y .— See W ellsvillo & B uffalo R R .
Manitoba, Saskatchewan and Alberta; also from Winnipeg oast to Toronto,
Ottawa and Montreal, tho now lino from Port Arthur east having beon
••BURLINGTON.” — See C H IC AG O B U R L IN G T O N As Q U IN C Y R R .
opened for scrvico in Nov. 1915. Tho company also operates from Mon­
treal to Quebec, and from Quebec to Chicoutimi, with branches in Province
B U T T E A N A C O N D A & P A C I F I C R Y . — Owns Butte to Anaconda. of
Quebec. In tho Province of Nova Scotia, under tho Halifax & South
M ont:, and west to Southern Cross, 49 miles; spurs, 35 m .; sidings, 54 m .;
Western
R y., from Halifax to Yarmouth, 250 miles, Port Wade to Bridge­
total, 138 m .; also leases Stuart to Anaconda, 9 m .; total, 145 miles, of
which 77 miles operated electrically. V. 97, p. 1114; V. 96, p. 135. Stock, water, 93 miles, Caledonia to New Germany, 21 miles. On April 30 1916
32,500.000. of which Anaconda Copper Co. owns 51% and Chic. Milw. Ac roported earnings on 8270 miles of road.
In M ay 1916 tho Canadian Parliament granted tho company a $15,­
St. Paul Ry. 4 9 % . Dividends: 1910 and 1911, 6 % ; 1912, 3 % and 150%
. .
.
.
,,
Instock; year ending June 30 1915, 5 % . Bonds ($5,000,000 auth. issuo), 000,000 temporary loan.
A
bill passed by the Dominion Legislature In June 1914 and approved by
of which $3,000,000 havo been sold, are guaranteed prin.and int. by Ana­
conda Copper Mining Co. Redeemable for sinking fund at 105 on any in­ theCrown provided for (a) tho guaranty by tho Govt, of $45,000,000 addi­
terest day since Feb. 1 1915. V. 98, p. 837. For year ending Juno 30 tional 4 % bonds or debentures to aid in completing tho system to a total
1915, gross, $1,314,547; net, $439,235; other income, $49,161; charges, of 9,876 miles; (6) an increase in the capital stock to $100,000,000, of which
to be owned by Canadian Govt, and $60,000,000 by Mac­
$146,627; divs. (5 % ). $125,000; bal., sur., $216,809.— (V. 98, p. 837; $40,000,000
kenzie, Mann Ac C o., Ltd.
The last-named turn over to tho Cana­
V . 101. p. 426. 1884.)
dian Northern Ry. Co. the bulk of their stock holdings in the allied railways
C A IR O & T H E B E S RR. — Owns Cairo, 111., to the bridge across tht and tho beneficial interest in the associated oxpress, steamship, telegraph.
S e c . , properties. The ownership of tho systom Is therefore concentrated in
Mississippi River at Thebes. 111., 25 miles. Leased to St. Louis Iron Mtn
<5c Southern Ry. for 99 venrs from Mch. 1 1911. rental covering Interest on tho Canadian Northern Ry. C o., which holds tho following amounts of
an authorized issue of $2,000,000 4 % bonds, of which $1,699,000 are issued stock in tho several associated companies whose lines, built or building
’
and outstanding, all owned by L . Ac N . Under modified lease St. Louis aggregated tho mileage hero shown (compare V. 98, p. 1600, 1607 1918):
Sc San Fran, and St. Louis S. W . can use the terminals when they apply.
M i l e a g e O p e r a t e d F e b . 1916— C a p i t a l S t o c k O w n e d M a r c h 14 1914 .
V. 95, p. 1121. Columbia Trust Co. of Louisvillo, K y ., trustee. Stock,
M i l e s o p . ----- C a p i t a l S t o c k 1914-—
$10,000; par, $100. Pres., A . Robertson, St. Louis, M o .— (V. 92, p.
* S e e s e p a r a t e s t a t e m e n t f o r t h i s c o m p a n y . F e b ’ 16.
T o t a l . ___
O iv n c d .
♦Canadian Northern Pacific R y_________ 500 $25,000,000 $25,000,000
525; V . 95, p. 1121.)
Canadian Northern Alberta R y______ _ . 252
3,000,000
3,000,000
C A L G A R Y & EDM O NTO N R Y . — Owns Calgary Jet., Canada, to Strath- Canadian North Western R y_____________ 268
2,000,000
2,000,000
cona, Canada, 190.6 miles, and to Fort McLeod, Canada, 107 miles; VVeNorthern R y..................................4,773
„ „ „ ^ abov°
„ „ „„
taskhvln to flardlsty, 100.3 m .; I.acombe to Coronation, 106.7 m .; total, Canadian
Canadian Northern Saskatchewan R y—
50
,A ’Q99’Q99
, i ’999’99?
504.8 miles. V. 93, p. 1785: V . 94, p. 910.
♦Canadian Northern Ontario R y__________ 1,545
10,000,000
10,000,000
In 1903 re-leased to Canadian Pacific (which owns entire $1,000,000 stock Irondale Ban. Ac Ottawa_________________
55
f>.l,500
05 « ’999
and $5,900,000 1st M . 4 % bonds) for 99 years; debenture stock interest
♦Central Ontario R y____ ______________
165
3,331,000
3,329,000
Is guaranteed at 4 % . At end of lease the bonds will be paid at par or a fur­ ♦Bay of Quinto R
55
1,395,000
1,395,000
y - - . ..................
ther lease entered into. V. 76. p. 434; V. 77. p. 1224; V. 80. p. 116.—
Brock. Westp. Ac N . W ............................... 45
I co owned
V. 94, p .910.)
i 'l
♦Canadian Northern Quebec R y__________ 354
^ ’’JoO.OOO
? 4 ™ '9 9 9
4,o24,000
4,002,800
C A L I F O R N I A -W E S T E R N RR. & N A V I G A T I O N CO.— Owns Ft. Bragg. ♦Quebec & Lake St. John________________ 309
1,000,000
1,000,000
Cal., to Willits, 60.66 m. Stock auth., 51,000.000; par, $100. Dividends lialifax Ac S. W . R y......... ............................- 370
6,000,000
3,060,000
paid year 1909, 2 4 4 % ’, 1910. 744% ; 1911, 10% : 1912. 10% ; 1913-14, nono. ♦Duluth Winnipeg Ac Pacific R y__________ 172
Mortgago covers also terminals and railroad wharf. Bonds are guar.,
Total 8,913
p. Ac L, by Union Lumber Co. Of tho $750,000 authorized, $600,000 issued
The Can. Nor. R y. Co. will also own all the cap. stock sovorally of the
to redeem issue due Jan. 1 1915, $150,000 retained in treasury for future
uses. V. 99, p. 894, 1213; V. 100, p. 1436. Year ending Juno 30 1915, Canadian Nor. Manitoba Ry. (projected). Can. Nor. Systom Terminals,
railroad gross, $233,818; net, $73,966; other income, $6,136; int., taxes, &c., Ltd. (V. 85. p. 863). M t. Royal Tunnol Ac Tormlnal, See. (V. 102, p. 1987).
Tho first 241 miles of Hudson Bay Ry. being built by Govt, botween Lo
$53,031; bal., sur., $27,071.— (V. 99, p. 1527; V. 100, D. 1436.)
Pas and Port Nelson, 418 miles, has boon mostly completed and construeC A M B R I A & I N D I A N A R R . — Colver Heights to Manver, Pa., 21.8 m .; tion in progress on remainder. V. 93, p. 52; V. 102, ])• 712.
LEASED LINES.— The Manitoba linos of tho Northern Pacific R y ..
Colver Jet. to Rexis, 4.25 m .; total, 26.05 miles. Stock, $400,000. Bonds
($900,000 authorized issuo) have a sinking fund of 2 cts. per gross ton on 351 miles, are sublet from the Provincial Govt, for 999 y^ears from May 30
1901 at $210,000 annually for the first 10 years, then $225,0(0 for tO years,
all coal originating and shipped over tho lino; minimum payment, $16,000.
then $275,000 for 10 years, and thereafter $300,000, with opt on of purchase
Car trusts outstanding, $950,113. Loans and bills payable, $323,494.
for $7,000,000. Manitoba Govt, has option to purchaso said proporty in
Equip, trusts Juno 30 1915, $171,000. Series “ A ” 5s, duo annually j o
a « r 1 moi 4 178 nnn* “ R " Ka Huo nnnnnllv t.n T~
Qu’Appello I^ong'Lako Ac Sask. deb. stk., V. 83, p. 214, 324, 688, 1036
CAPITAL STO CK .— Of the $125,000,000 cap- stock as Increased In
ending Apr. 30, gross. $567,468: net, $147,581. Prcs.,B Dawson Coleman;
1914, $25,000,000 is issuablo only in exchange for income chargo stk.;
Sec. & Treas., A. J. Rapp. Offico, Land Title Bldg., Philadelphia, Pa.
$40,000,000 is owned by Can. Govt, and $60,000,000 by Mackenzie, Mann
„
.
CAMDEN & BURLINGTON COUNTY RR.— Owns from Pavonla, N. J ,. Ac Co.. Ltd. V. 98. p . 1600; V. 100. p. 393.
F U N D E D D E B T .— Tho ‘‘issued funded (lobt of tho entlro systom,
to Pemberton, N. J., 23.35 miles; branch, Burlington, N. J., to Mount
9.599
miles,
not
including
394
miles
of
leased
linos,
was
given
In
detail
as
Holly, 7.12 m .; connection with P. & L. B. RR . at Birmingham, N. J..
0.39 m .; total, 29.86 m. In July 1915 merged tho Vincentown Branch of April 15 1916, in V. 102. p. 1981. showing a total of $358,770,799. o f
of Burlington County RR. and M t. Holly Lumberton Ac Medford R R ., which about 8100,000,000 (not including in amounts outstanding in above
table) was pledged for short term obligations; soo below.
6 m the auth. cap. stock being raised to $800,000. V. 101, p. 46. 1092.




^

Oswego
Camden,

N.Falr-.Haven

Hamilton'
Oak Orchard;

OneidaLake

Charlotte

Rochester,

CANADA

Newark

^Niagara Falls<lU Niagara Falls

.Utica

Batavia

-Tonawajad*

Wcllanc

'Attica o.

Canandaigia

Avon

Canandaigu'uLakc

Geneva)

Cayuga^

Auburn

Syracuse

Oneida

aneatelcs
[asco VSkL
ake

Stanley

.Richfield Jc.
Richfield Sprs.

inkirk

Hornell Jc.
Dayton

RAILWAY STOCKS AND BONDS

Brocton

Belfast'

^Tayvllle
Chautauqua

Bath

Cortland

'Andover

lalamanca//

^Corning

Carrollton
Lakewood

,01ean

Jamestown

Qr&
breenjaifi
Van Vldet

Rexville

Bolivar

Bradford]

Tlkland
vham*

Shinglehouse

Eldred

retti

Elmira*

!Horseheads

AND

Chenango'
Forks

-an Etten/Jc.
Owegoy

Uiii£;liuintoii

3.
iusquehauna'

Lawrej

G.

X 'f

Summit

Coudcrsport^

S /

Port Allegany^

7.
Morris Run]
C^\pFall Irrook

Scrnnlon Lacka" a^S.

leatl n g S u m m lt'

RidgwayJ

4.
5.

Sweden Vj i u '

Antrim.

Johnsonburg'

1.
2.

V. A."y*rAcademjr Corners
'<<0^(7'Kcc.Trille
i^oii'infsqne 11 /

v^rSabingTilU
S m e t h p o r t v\

BUFFALO & SUSQUEHANNA
RAILROAD CORPORATION

Oneonta

^Nichols /[
kelson __

Ceres

Corry

Norwich

.Freeville

Ithaca*

"Watkins Glen

Oleana

fCostello^^^

Nelson'.RUo^
H harton
Bailej Run/
EmporiumJ B
ergeRun^
l First Fork^y,

LushbaugbiCr^

MAP OF THE

^

Canisteo

ChautauquaLak\

8.
y.
10.
11.

CONNECTIONS

At Driftwood with Peuna. R. R. System for Buffalo.
A t Addison with Erie Railroad and via Erie Railroad
to Elmira with D .L .& W . and Lehigh Valley Railroads.
At Newfield Junction with Coudersport and Port
Allegheny Railroad
At Ansonia with New York Central Railroad
A t Keating Summit with Pennsylvania Railroad and
Potato Creek Railroad.
At Wellsville with Erie Railroad and Wellsville &
Buffalo Railroad.
At Du Bois with Pennsylvania Railroad and Buffalo,
Rochester & Pittsburgh Railway.
A t Sykes with Buffalo, Rochester & Pittsburgh Ry.
At Sinnemahoning with Pennsylvania Railroad.
A t Genesee with New York and Pennsylvania Railroad.
A t Cowanesque with New York Central Railroad.

o

Hoytville

IFit ,ton

Blackville

LEGEND

dVilkrx-Rarr

LUMBER OPERATIONS

'Osborne

COAL OPERATIONS
p. n. R.' U -nr,h Bend

'Sxi9(tuehanna^\.

Brockwayvillei

Stroudsburg1

Mauch Chunk
Newberry Jc.

Williamsport

fake Hopatcoug!

Eastoo/vph il 1ipsburg

Jersey Shoi

Denville

Summit

So.BcUilehem

X^_&_3-^Knearfield

Jnjieat

'routville

s'

^ T l’Iumville




Boundbrook.

Sunbury

Perth Amjb^^s

Bellefonte

'Sagamore
AllegWviAV
Pittsburgh

A lientowm

Northumberland

_

>^^t'rantzs^r ^Mahtfffey

JUNE, 1916.1

i-p'Troy
Albany

Hammondsport

Hornell

.Ashford;

Gayugt

LakeKeukanjf)

*orftige
Swains

Springviile,

Rotterdam
Schenectady;

Clarksburg

ryrone

Reading

liarrlaburg

Trenton

Bellwood)
.Johnstown>

Altoona
Cresson

Lancaster

Plilladelph]

18

RAILWAY STOCKS AND BONDS

RAILROAD COMPANIES
tFor abbreviations. &c., see notes on first page)

Date
Bonds

Canadian N orthern— Stock $125,000,000__
Canadian Northern Division $8,000 per mile Guar­
177 1899
Manitoba 4 S I 3 (assumed $8,000 per mile) . anteed
108 1899
Gilbert Plains Branch $8,000 per m ile___
by
27“ 1900
Ontario Dlv 1st M deb £36,200 are 4 >4s___ Man,
2.87 1901
1st con deb M(Man lines) $10,000 p m cAr__ Govt
1904
Manitoba Provincial bonds $8,000 per mtle.l__
Perpetual consol debenture stock (V 81, p 1609)..
First M deb stk $13,000 p m guar by Canadian Govt
1903
1st M stock $13,000 p m guar by Canadian Govt_
1908
Deb stock $45,000,000 gu by Can G ov’t red par __
1914
First mtge deben stock guaranteed by Saskatchewan
1909
do
do
guaranteed by Alberta_____
1909
do
do
guaranteed by Manitoba___
1910
Winnipeg Terminals mtge gold guar by Manitoba.o*
1909
Income-charge convertible deb stock redeem text
Secured notes £2,000,000 auth red 101 (V97, p 520)
1913
Secured notes (V 98, p 1601)_____________________
1913
Loan from Dominion Gov’t secured by $12,500,000
_
4 % guaranteed debentures___________
1914
Secured notes (V 101. p 527) conv____________ Col
1915
Secured notes gold (V 102, p 521, 1981)...................
1916
1st land grant M red 111) (money depos to redeem)
1899
do
do red 105 to July 1917___________
1909
do
do
callable at par________________
1913
Outstanding bonas oj Allied Companies—
Qu’Ap Long Lake & Sask 1st M £1.050,000 guar..
249 1906
Quebco A Lake St John deb stock guar__________ 286 H 1911
Can Nor Alberta Ry 1st M deb stk guar by Can Govt
do
do
do
do
do
Can Northern Western 1st M guar by Alberta____
160 1911
do
do
do
do
do
1912-3
Halifax A Southwestern Ry 1st M _______________
Irondalo Bancroft & Ottawa 1st M (held in treas’y ) .
Central Ontario R y ______________________
1909
Montreal Tunnol A Terminal Co 1st M $"ll,680"665
Can_ Nor Ont— Can Nor Pac— Can Nor Quebec— Bay of Quinto
Canadian Northern Ontario— Guar deb stk (see text)
268 1908
Perpetual consolidated debenture stock__________
1909
Guaranteed 1st M deb stk, $35,000 per mile_______
1911

Par
Value

Rate
%

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends aro Payable

3100000000
1 £233,700f
4
F A A Feb 1 1929
) £105,300i
4
F & A Feb 1 1929
j
£5001
4
M A N Nov 1 1930
£1,180.600 4 A 4 A g J A D30 June 30 1930
£2,555.600
4
J A D30 June 30 1930
£349,000
4
June 30 1930
£9,654,044
4
J A D30 Irredeemable
£1,923.287
3
M 31-S30 July 10 1953
£1,622.586
J 20-J 20 July 20 1958
See text
4
M & S Sept l 1934
£1.650,000
4
J & D Jan 23 1939
£1.147,945
4
J A D Fob 25 1939
£587,671
J & D June 30 1930
4
$ & £
£616,438
4 g J A J July 1 1939
£5,136.979 Up to 5 M A N 2 May 6 1930
£100 &c £2,000,000
F A A 12 Aug 12 1918
5
£450,000
5
J & D12 June 12 1919
10,000,000
1,000 $11,500,000
$2,500,000
$2,000,000
£100 Ac
£511,700
£100 &c £1.500.000

$100
£100
£100
R y.— Du

The Issue of $45,000,000 debenture stock was guaranteed In 1914, princi­
pal and interest, by the Dominion Govt, undor plan outlined in V. 98, p.
1600, 1607, 1918. In May 1916 $44,866,667 of this issuo had been disposed
of as follows: Sold in -914 and 1915, $17,033,333 (£3,500,000): pledged
with Dominion Govt, against advance of $10,000,000 Dominion notes
$12,500,000: pledged as part security for 2-yoar 6% notes for $11,500,000
$15,333,3333 See also V\ 102, p. 1982; V. 99, p. 269, 341, 536, 747, 1129
The £2,555,600 4% first mortgage consolidated debenture bonds of
1904 have principal and int. guaranteed by Govt, of Manitoba. A part
of this Issuo is held in trust to retire: (a ) £105,300 Manitoba A Soutneastem 4% first lien on 108 miles, assumed; (b) £233,700 Canadian
Northern R y., Slfton branch.4% bonds,secured on 197 miles Slfton Junc­
tion to Erwood, guaranteed, prin. and lnt., by Manitoba Government;
(c) £500 Gilbert Plains 4% bonds. V. 80, p. 116; V. 78. p. 1274; V. 79
p. 2794; V. 81. p. 1607: V. 82, p. 568.
Particulars regarding various of the securities issued aro given in tho
Chronicle” as follows: (a) Perpetual consolidated debenture stock, V. 76,
p. 1247; V. 77. p. 87; V. 80, p. 996; V. 81, p. 1609; V. 86, p. 1099: V. 87, p.
36; V. 89, p. 1279; V. 90, p. 770, 1424. 1489; V. 93. p. 406; V. 94, p. 1695;
V. 98, p. 1601. (b) 3% 1st M . debelituro stock, guaranteed by Dominion
Government, dated July 29 1903, V. 80, p. 1234; V. 76, p. 1299. (c) Cana­
dian Northern Alberta, V. 90, p. 1295; V. 92, p. 794, 880; V. 93, p. 162;
V. 96, p. 284. (d) Debenture stock, guar, by Province of Saskatchewan
and Province of Alberta, seo V. 89, p. 40; V. 88, p. 761, 1497, 1619; V. 91
p. 1322; V. 94. p. 1316; V. 97, p. 1582; V. 98, p. 761. (e) Canadian North­
ern Western Ry. 1st M . 4 14%, guar. prin. A int. by Province of Alberta,
V. 93, p. 1724; V. 97, p. 1583; V. 98, p. 610, 838, 1155.
INCOME-CHARGE STOCK.— The 5 % Income-charge conv. deD. stock,
limited to $10,000 per mile. Is red. at any time after May 0 1920 and Is con­
vertible on Jan. 1 1916 or any subsequent Jan. 1 or July 1 until Jan. 1 1922,
at the holders’ option. Into full-paid common shares at the rate of $500
(or £102 17s.) of deb. stock for $500 capital stock, on 60 days’ notice. The
Interest will be payable May 2 and Nov. 2 only to the extent that the net
earnings are sufficient after paying fixed charges, and will be declared
April 10 and Oct. 10 out of earnings of the half-years ending June 30 and
Deo. 31.
The Issue Is secured by a general charge on the property
(other than land and money subsidies) ranking behind the 4% consol, deb.
stook and all securities now or hereafter created, having priority over the
4% consol, stock, and also behind all charges now or hereafter created for
seourlng any securities guar, by the Dominion or any of the Provinces of
Canada. Coupons paid in full to N ov. 1914.
No payments mado in
1915 or M ay 1916. V. 100. p. 1347, 1509; V. 90, p. 1674; V. 91, p. 1322;
V. 92, p. 1031; V. 100, p. 284; V. 101, p. 46, 1464.
W INNIPEG T E RM IN A L 4s.— The 4s o f 1909 are guar., prin. and lnt.,
by endorsement, by Province o f Manitoba. V. 89. p. 665. 1480.
NOTES.— In 1913 made three Issues o f secured notes and In 1915 and
1916 2 further issues; see table above and V. 96, p. 236; V. 97, p. 520: V. 98.
p. 1601; V. 100, p. 2084; V. 101, p. 46, 527; V. 102, p. 521.
LAND GRANT BONDS.— $2,000,000 first mtge. 4% land grant bonds
are secured by 1,365.333 acres of land grant subsidies from Dominion of
Canada. V. 85, p. 1205; V. 78. p. 1083: V. 75. p. 183. 549; V. 81. p. 263
First M . Land Grant 4s of 1909, V. 87, p. 479, 1477; V. 88, p. 1126.
5% Land Mortgage Debentures.— The bonds £3.500,000 auth. Issue, of
which £1,500.000 sold) are a specific charge on all of tho dob. stock and
capital stock of tho Canadian Northern Town Property C o., Ltd., which is
developing 300 towns and villages, aggregating about 68,700 acres, and also
acquiring property in 172 other towns and villages; also on tho land grant
of the railway and deferred payments on land sold: total not security for
debentures, $29,222,870. V. 100. p. 393; V. 97, p. 1424.
Canadian Northern Ry. System Equipment Securities Outstanding Apr. 15 1916'
Total, $17,302,500
Series.
Rate.
Outstanding.
' ”
Series.
Rate.
Outstanding.
“ L”
$200,000 “ A - l ”
4K %
$1,844,000
4A %
”M”
4X %
58,000 “B -l”
4 y2%
825,500
“ N”
4 'A%
100,000 “ C -l”
4 'A %
1.300.000
“ O”
300.000 " D - l ”
4'A%
1.950.000
4 'A %
“ P”
4 'A%
300.000 "E -l”
1.365.000
4 'A %
“ R”
41* %
340.000 " F - l ”
3.950.000
4 'A%
“ 8”
300.000 ’’G -l”
4 'A%
750.000
4A%
“T”
600.000 "H -l”
4H%
5%
630.000
“ U”
200,000 “ K - l ”
4A %
5%
1.790.000
«V ”
1,500,000
4X %
FINANCES.— In May 1916 tho Canadian Parliament voted to grant
this company a $15,000,000 6% call loan, secured by mortgage, to provide
“ for expenditures mado or to meet indebtedness incurred in paying Interest
upon securities o f tho companies included in tho Canadian Northern Ry.
system, having priority over tho securities guaranteed by tho Government
under tho legislation of 1914, and installments of principal for equipment
securities and upon construction.”
Tho net earnings of tho entire system for tho year ended Juno 30 1915
amounted to $6,623,000, and V.-Pros. Hanna’s estimates aro as follows:
Year ended Juno 30 1916, $9,770,000; that ending Juno 30 1917, $11,500,­
000: 1918, $13,700,000; 1919, $15,120,000; 1920, $17,700,000.
Tho financial statements presented to tho Houso in April 1916 were sum­
marized in V. 102, p. 1981, showing London short-term loans (not included
in table above), secured by collateral, £6,043,554; same in Canada, $6,214,­
066; $10,000,000 Loan of 1914, obtainod from Canadian Govt., duo Sept. I
1917, secured by $15,333,333 4% guaranteed debenture stock of 1914;
sundry loans, $19,925,345, making with miscellaneous accounts, after de­
ducting cash, accounts receivable, materials, Ac., a net amount duo of
$92,450,000, tho greater part secured by pledgo of about $100,000,000 of
securities o f various issues.
Tho completed and uncompleted mileago had cost for construction and
equipment Dec. 31 1913 $303,319,232; cash subsidies received from tho
Dominion and municipalities to that dato, $20,992,566; proceeds of bonds




Amount
Outstanding

[Vol. 102.

5g
5g
4g
4
5

£1,037,972
4 g
See text
4
£647.260
314
As collat
3H
S2.800.000
4g
£1.320,000
414
$4,447,000
314
450,000
5
£199.000
5
?
5
luth Winn. & Pac.—
£1.615.068
314
Seo text
4
£7,033.561
314

M
J
F
J
J

Sept 1 1917
& S Sept 1 1917
A J Jan 1917
A A Feb 1 1919
A J July 1 1938
A D June 1 1923

Can Bk of Com,NY;ALon
London and Toronto
London, Toronto A N Y
Can Bank of Comm, Tor
London, England
do
London and Toronto
do
do
London
do
London and Toronto
London, Toronto A N V
None paid 1915-May T6

New York and Toronto
New York
Nat Tr Co, Tor or Lond
London, England
London and Toronto

J A J July 1 1936
Can Bank of Comm.Lon
J A J Perpetual
London and Toronto
J 20-J 20 May 4 1960
London and Toronto
Apr 11962
M A N May 11941
Tor, London, Ac
Feb 16 1942
Toronto and London
J A J Sept 30 1943
London and Halifax
Jan 1 1953
J A J Jan 1 1934
Bank of Montreal
April 15 1970
See those companies.
Various 1936 and 1938 Can Bk of Commerce,Lon
A A O 2 Perpetual
C Bk of Com, Tor A Lon
J A J 20 May 19 1961
do
do

guaranteed by Dominion and provincial govts., $131,322,660. V. 98, p.
761, 838.
For the first three years after the road Is opened from Vancouver to
Quebec the Govt, agrees, at the request of tho company, to advance all or
any portion of tho int. on the $45,000,000 4% dob. issuo auth. in 1914 (soe
above) and not to enforce the re-paymont of same until tho principal ma­
tures in 1934, provided the company pays 4% int. on any sums so advanced
(V. 98, p. 1608, 1601.) Similar provisions were made respecting the
Dominion guaranty of tho bonds on the Canadian Northern Ontario R y.
between Montreal and Port Arthur.
IiR . EARNS.— 12 mos., (1914-15..-Gross, $17,225,600; not, $4,828,700
July 1 to June 30.
(1913-14...G ross, 22.700,700; not. 6,351.700
Miles operated, 4,965 In 1914-15. against 4,670 in 1913-14.
For ten months,
11915-16 ..G ross, $26,958,900; not, $6,825,600
July 1 to April 30.
(1914-15 . -Gross, 21,052,700; net, $4,977,900
REPORT.— Full financial statement of April 15 1916, see V. 102, p.
1981. Report for year ending June 30 1914, in V. 100. p. 393.
.
„
1913-14.
1912-13.
1911-12.
1910-11.
4,563
4.297
3,8883,383
Average miles................................
Gross earnings-------$23,781,329 $24,277,478 $20,860,094 $16,360,712
$7,330,566

$6,773,867
250,000

$5,881,045

$4,990,347

Total net income____ $7,330,566
Int.bds.gu.byD. of Can.
$557,180
Int. bds. gu. by M an it..
956,874
Int. gu. by Saskatchew.
321,200
Int. guar, by Alberta__
154,950
Int. perp. cons. deb. stk. 1.809.375
Int. Qu App. L. L. & S.
202,056
Int. on 4% land gr. bds.
129,556
Int. on 5% land M . deb
182,500
Int. on 5% secur. notes
122,355
Rentals leased lines, A c.
251,460
Int. on equip, leases___
1,088,554
Int. on Inc. deb.stk(5%) 1,250,000

$7,023,867
$557,180
951,308
271.783
127,400
1,768.064
202,056
150,224

$5,881,045
$539,205
951.539
236,319
89,960
1,496,989
203,019
163,793

$4,990,347
$359,257
933,268
66,560

238,960
923,948
988,215

238.960
711,060
674,804

225,210
621,399
312,872

$304,505

$844,729

$575,397

$694,824

Premium account______

1,388,410
203,983
184,563

OFFICERS.— Pres., Sir William Mackenzie; V .-P., Sir Donald Mann,
3d V.-P., D. B. Hanna: Seo., W . H. Moore; all of Toronto. Ont. Directors,
Sir William Mackenzie, Sir Donald Mann, R. J. Mackenzie. Z. A. Lash,
Frederic Nlcholls, E. R. Wood, D. B. Hanna, Toronto, Ont.; R, M ,
Homo-Payne, London, Eng.— (V. 102, p. 1718, 1810, 1895, 1981.)
CANADIAN NORTHERN ONTARIO R Y .— {See Map Canadian North­
ern Ry.)— Owns: Montreal to Port Arthur, 1,010.94 milos; Toronto to
Caprool, 276.43 miles; Toronto to Ottawa, 250.25 miles; total, 1,537.62
miles. A through service Toronto-Vancouver over this lino is now in opera­
tion. Seo debenture stock below. In connection with Canadian North­
ern Quebec R y., a through train sorvico is maintained botweon Ottawa,
Quebec and Montreal. V . 92, p. 162; V. 97. p. 1023. Owns modern orehandling plant at Key Harbor, 80 miles from Moose M t. iron mines. Con­
trolled by Canadian Northern Ry. interests. V. 98, p. 1601. Subsidies,
June 1913, V. 96, p. 1627. V. 97, p. 1820.
ORGANIZATION.— Controlled by same Interests as tho Can. North.
Capital stock (shares $100,) authorized, $50,000,000, outstanding,
510 000.000. Debenture stock, 3 H % . V. 87. p. 96: V. 88. p. 1060.
Tho 4% perpotual consol, dobenturo stock of 1909 is a first lien from
nawkesbury to Ottawa and from Ottawa to Niagara, via Totonto, with
additional charges on other lines; of this stock soino $14,577,253 had boon
issued to April 30 1916, excluding £532,192 under trust deed of Oct. 4 1911,
securing guar. 1st M . dob. stock of 1911. Of tho $14,577,253, somo $8,­
883,638, or $1,825,405, is understood to bo in hands of public and tho re­
mainder pledged for short terra obligations. V. 102, p. 1981; V. 89, p. 162;
V. 97, p. 1424.
In May 1911 the Canadian Gov ernment agreed to guarantee 3 A % 50-year
1st M. deb. stock at $35,000 per mile on not exceeding 1,050 miles, to con­
struct line from Port Arthur to Montreal via Sudbury and Ottawa Valley,
of which 970 miles were under construction In Dec. 1911. Seo guaranty,
V .9 3 .p . 1667: V. 94. p.349; V. 92, p. 1309. 1435. 1635; V .9 3 ,p . 1190.1667.
Loans and bills payable June 30 1914. $1,540,872.
EARNINGS.— For year ending June 30 1914, gross, $1,460,287: op.def.,
$102,076; other Income, $53,6Gl; int., $1,756; taxos, $34,467; rentals, Ac.
$825; bal., def., $85,463. Bond interest paid by contractors. Office,
Toronto. Ont.— (V. 98, p. 761, 1155, 1535.)
CANADIAN NORTHERN PACIFIC RY.— {See Map Canadian Northern
Ry.)— Owns a line across the Rockies from Yellowhoad Pass to Vancouver
and Pacific tidewater, about 500 m ., opened for operation Sept. 1915.
Also a 150-mllo line from the 100-milo post on the Vancouver Island soctlon
to the east coast of Vancouver Island and a 145-milo lino to Vernon, and
thence via Long Lako to Kelowna and to O’ Kanagan Lake. V. 92, p. 1309;
V. 93, p. 526; V. 101. p. 46. Controlled by Can. Nor. Ry. Interests.
Stock authorized, $25,000,000, of which $10,000,000 may be prof.;
par, $100. First mortgage deb. stock was Issued under Act of 1910 at
335.000 p. m. (proposed to be increased to $45,000 p. nt. V. 98. p. 762).
guaranteed by the Province of British Columbia, tho Canadian North­
ern Ry. to Indemnify the Government against any loss It may Incur by the
guaranty; also an additional 195 miles authorized in 1912. Of the deb
stock, £3,372,329 is listed in London and £550,000 and £392,739 deposited
as security for Canadian Northern note Issues. Mortgage trustees, Na­
tional Trust Co. of Toronto and British Empire Trust Co. V. 93, p. 1461;
V. 04, p. 1565; V. 91. p. 37. 93; V. 90. p. 696; V. 89, p. 1111: V. 97. p. 802.

FOX
PRINCE ALBERT

LAND

LAND

■ATBUEST

RAILW AY STOCKS AND BONDS

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2 2

RAILWAY STOCKS AND BONDS

RAILROAD COMPANIES
fNot abbreviations, A c., see notes on first page\

Miles Date
Road Bonds

208 1909
1st M term deb stock gu by Hr Col_____________ _
1913
Branch line stock (.511,865,000) issued $5,339,128Second chargo stock (85,100,000) issued 84,999,99!
Can Nor Quebec— Gt Nor cons M 55,462,000 (text) Ce
1904
Perpetual guaranteed debenture stock (see te x t)-.
Canadian Pacific— Stock 5335,000,000 authorized___
__ ___
Preferred stock limited to 4% non-cumulative___ r
__ ___
First mortgage on Algoma B r g .......................... o ’ Ar
179 1888
Consol perpetual debenture stock ____________
__ 1889
Special Investment fund note certificates red par__
___
Vic Roll StkARoaltyCo eq tr serT$470,000saPeP.c*
1915
—
Securities of Principal Leased, A c., Lines.
Manitoba S W Col Ry 512,000 per mile lnt guar gold
218 1884
Atlantlo A Northwest— 1st mortgage gold gu__o*&r
350 1887
St Lawrence & Ottawa— first mortgage gold see text
58 1876
Ontario A Quebeo stock guaranteed In perpetuity..
__ ___
Ontario A Quebec deben Interest guar in perpetuity
671 ___
Toronto Grey & Bruce 1st M gold Interest as rental
191 1883
New Brunswick Ry 1st M gold lnt from rental__ o*
174 1884
Perpetual consol debenture stock, Interest guar
__ 1890
New Bruns So 1st M ____________________________
84
Calgary & Edmonton deb stock gold Interest as rent
1890
Branch line bonds 51,040,000 (owned by CanPao)
62 1905
Alberta Ry A Irrlg Co deb stk 5% lnt guar
- - - ____
Lindsay Bohcayg A Pontypool 1st M $700,000 gold
40 1903
Quebec Central stock dividend guaranteed__ __
1st M deb stk lnt gu red 110 after 20 yrs_______
2d M deb stock prin and lnt guar_______
3d M bonds prin and lnt guaranteed__
Aroos Val El RR 1st M $300,000 g red 105 int guar
14 1909
Minn St P A Sault Ste Marie and Duluth South Shor 9 A At lantlo
Cape Girar Nor— lstM$2,500,000 g rod 1024*--SSt
116 1913
C arolina A tlantic & W estern Ry— Seo Seaboard
Air LlnoR
Caroliaa Central— Bonds— See Seaboard Air Line Ry

Par
Value

Amount
Outstanding

Rate
%

When
Payable

[Vol. 102.
Last Dividend Places Where Interest un i
and Maturity
Dividends are Payable

4
A A O Apr 21950
41* A A 02 April 2 1950
44*
Apr 2 1950
Apr 2 1950
44*
$100 Ac $3,505,750
A A O Oct 1 1934
4
4
£1.038,855
J A D31 Perpetual
100 260.000.000 10 in ’ 15 Q— J Juno30 1916243
100 £80.681.921
4
A A O iVpr 1 1916 2%
£100 Ac 3,650,001)
J & J July 1 1937
5g
£1 Ac 170,284,882
4
J A J Irredeemable
$20. Ac 52,000,000
6
Mar 2 1924. 1,000 11.750.000
44* g J A j July’ 16-July '28
£3,372,329
£1.770.000
Plodged

1,000
£100 Ac
£50 Ac
5100
£1
£100
£100
£1
$1,000
J00
1.000

*500 &c
—Sec sta
1.000
y

term*n!Us 443% deb. stock authorized by the Terminals Act
1913, and guaranteed, prin. and int., by the Province o f British Columbia
is limited to $10,000,000 or its equivalent. £2,054,794 10s. 4d.
V 90
p. 651, 1838; V. 97, p. 297. 364: V. 100, p. 1591.— (V. 101, p. 46. 772.) '
CANADIAN NORTHERN QUEBEC R Y .— (See Map Canadian Nor.
Ry.)—Owns Quebec to Montreal.176.07 m.; Joliette to Hawkesbury.67.05 m.;
Lorette Jet. to Transcontinental Jet., 5.3 m.; Hedleyville Jet. to Mont­
morency River, 7.22 m.; branches, Garneau Jet. to Riviere a Pierre
39.84 m.; Shawinlgan Jet. to Shawinlgan Falls, 3.41 m.; St. Jacques Jet.
to Rawdon 15.88 m.: St. Jerome Jet. to Ituberdeau. 45.28 m.; business
spurs, 10.97 m.; total, 371.02 miles. See V. 95, p. 1402: V. 97, p. 1023
Controlled by same Interests as Canadian Northern Ry. V. 98, p. 1601.
Capital stock, $9,600,000 common and $3,000,000 statutory 5% Inconn
stock; outstanding Juno 30 1914, $9,550,000. Control hold by Canadian
Northern R y. Co. through its ownership o f control o f the Northern Consoli­
dated Holding Co. V. 95, p. 1471: V. 96, p. 201: V. 97, p. 951.
SECURITIES.— Regarding 4% perpetual debenture stock guaranteed
by the Canadian Northern R y ., sea V. 84. p. 968: V. 84, p. 693, 748.
There are $3,505,750 4% bonds of the Great Nor. Ry. of Canada, guar,
as to prin. and int. by Canadian Nor. Ry.; Central Trust Co. o f N Y
Loans and bills payable Juno 30 1914, $455,365.
.E A R N I N G S .— For yoar ending June 30 1914, gross, $1,671,723: net
Interest, taxes. A c.. $643,121; balance, deficit, $453,578.
'
Office. Toronto, Ont.— (V. 96. p. 201: V. 97. p. 950.)
CANADIAN PACIFIC R Y .— (See Alaps).— Owns a trans-continental
railway from Alontroal to the Pacific Ocean, made up as follows July 1 lgifi:
Montreal to Vancouver---------- 2,9001Under construction July 1 191560
Branches and auxiliaries.......... 5,106 Operated account of owners__ 383
Leased lines__________________ 4.820
Also controlled but oper. sep.—
Used Jointly__________________
94 aMInn. St. P. A Sault Ste. M . .4,103
aDuluth South Shore A Atlantlo 627
- Total in traffic returns____ 12.917
aSee each company’s statement.
In March 1912 contract was lot for now Lake Shoro line between M on­
treal and Toronto, about 185 miles, to take about 2 years to build and
cost about $12,000,000. V. 94, p. 1185.
HISTORY, ETC.— Incorporated Feb. 17 1881 under charter from Do
rahilon of Canada, receiving $25,000,000 In cash as a subsidy: also 25,000.­
000 acres or land, all to bo fit for settlement. The trans-Atlantic and Pa­
cific steamship lines, also steamers to Alaska, wero in March 1915 transferred
to the now subsidiary. Can. Pae. Ocean Services, Ltd., with £2,000,000
authorized stock (of which £1.962,910 is owned along with £2,865,860 5%
1st debs, or deb. stock), in order to separate tho management and provido
for the issuance by tho steamship company of its own securities for new
steamships. V. 100. p. 811: V. 101. p. 616, 699.
• STOCK.—The Issue of preferred must never exceed one-lialf the common
In 1914-15 £504,914 pref. stock was sold. V. 99, p. 543.
•O£ ™ « nn°^8tockhold?rti werH 111 Feb- 1913 offered tho right to subscribe for
xRg’xWl:'000 Jlevv stock
175, tho proceeds to be used to retire tho $34.
998,633 1st M . 5% sterling bonds maturing July 1 1915 and for additions
and improvements. V. 95. p. 889. 1402: V. 96. p. 1421; V. 97, n. 175
297. 1425. Tho stockholders on Oct. 7 1914 voted to increaso tho auth.
common stock from $260,000,000 to $335,000,000. tho now stock to bo
Issued as required. V. 99. p. 195, 466, 105.

$2,544,000
5 er J A D June 1 1934
£1.330,000
5 R J A J Jan 1 1937
£200.000
(6) 4 J A D15 See text
52.000,000
J A D Dec 1915 3?
6
£4,007.381
6
J A D Irredeemable
£719,000
4R J A J
£630.000
5 R F A A
4
£904,533
J A J Irredeemable
3
J A J Jan 1 1933
$500,000
£1.121,700
4 K J 3 A J 2002
$1,040,000
4
J A J 1955
3.250,000
5
J A J
500.000
4 ft ,T A J
3,381.603 See text J A J15 Jan 15 1916 2%
4
2,943,540
F A A
1.644.933
J A J15 Jan 1 1963
1.644.933
J & Jlo
1 1963
300.000
4 44 K F & A
tements of those oo mpanles
1,500.000
F A A Feb 1 1928
5g

London and Toronto
do
do
Can Bit of Com,NY & Toi
London
Lond A 31 Pine St. N Y
Company’s Office, Lond
Baring Bros A Co, Lond
Company's Office, Lond
London A 31 Pine St N Y
Baring Bros A Co, Lond
Can Pao office, London
Montreal and London
Morton, Rose, London
Toronto and London
London
do
Guaranty Trust Co, N Y
Can Pao Office, London
Can Pao Offloe, Montreal
Bk of Montreal, Toronto

N Y and Augusta, Me
St Louis, M o

LANDS.— Lands unsold Juno 30 1915 were 214,339 acres In M anitoba,
2,122,131 acres in Saskatchewan, 3,927,596 In Alberta (of which 551,817
are irrigated), 1,118,892 in British Columbia, 96,000 In Quobec and 46,933
acres of coal land in British Columbia; total 7.525.891 acres. See V. 97,
p. 1048. Est. market value July 1915. $98,702,062; unsold lands In townsites, $22,000,000. Total sales In 1914-15, 231,297 acres, for $3,742,115.
SUB. COS.— Dominion Atlantic R y., Yarmouth to Truro, with branches
total 247 in., with 45 m. trackage to Halifax, Is leased for 999 years from
1912. V. 91. p. 728; V. 00. p. 1490, 1424; V. 93, p. 1461: V. 94, p. 278.
Owns nearly all stock of Alberta R y. & Irrigation Co. and Ioases road on a
guaranty of interest on deb. stock; the stockholders on M ay 27 1912 au­
thorized a mortgage. See V. 92. p. 955; V. 93, p. 593; V. 94, p. 1316;
V. 95, p, 617.
The Can. Pac. lenses for 999 years from Dec. 31 1912 Quebec Central R y.,
Sherbrooke to Harlake, Que., 137 4* miles; Beauee Jet. to St. George, 24 m.,
and Truig to Mcgantlc, 59 m.; total, 221 m ., with 5 m. trackage , guaran­
teeing 4% on the $3,381.603 capital stock for first 4 years and 5% thereafter.
V. 93. p. 667. 1106; V. 94. p. 1625: V. 96, p. 361.715.
Canadian Pacific Ocean Services, Ltd., organized In 1915 to take over
company’s 17 steamships and its interest in Allan Lino, may issue guaran­
teed debenture 5% stock. Seo V. 101, p. 1369.
E A R N IN G S — 10 mos., f 1915-16-Gross, $105,117,108; not, $41,164,004
July 1 to April 30.
\1914-15.Gross,
84,091,680; not, 28,453,594
ANNUAL REPORT.— Fiscal year ends June 30. Annual meeting Is
held at Montreal on tho first Wednesday in Octobor. Tho report for 1914­
1915 at length was in V. 101, p. 688. Seo also V. 101, p. 1369.
1914-15.
1913-14.
1912-13.
12,917
12,044
11,602
Miles operated end of year_________
Passenger earnings______ __________ $24,044,283 $32,478,146 $35,545,062
60,737,737 81,135,295 89,655,223
Freight------- ------Mail, express and miscellaneous___ 14,083,190 16,201,382 14.195,415
Total earnings_______________
Net earnings......... .....................
Excess steamship earnings______

..$98.865,210$129,814,824$139,395,700
..$33,574,628 $12,425,928 $46,245,874
1,245,563
-.....................................

$33,574,628 $42,425,928 $47,491,437
Fixed charges.......................................$10,446,510 $10,227,311 $10,876,352
Steamship replacement fund________
1,000,000
Pension fund______________________
125,000
125,000
125,000
Transferred special Income accoun t.. 1,494,152
2,115,842
Dividends on common stock (7 % )* . 18,200,000 17,150,000 13,650',000
Int. on stock subscriptions_________
________
569,814
Dividends on pref. stock (4 % )______ _______________________
3,219,051
3,109,520
2,960,013

Balance, surplus...............................
$89,915 $9,698,254 $18,310,258
* Also yearly 3% extra from special Income.
OFFICERS.— President and Chairman, Sir Thomas O. Sliaughnessy;
Vice-Presidents, George Bury, I. G. Ogden, G. M . Bosworth, E. W . Beatty,
Montreal, and Grant Hall, Winnipeg; Sec., W . R. Baker; Trcas., H. E.
Suckling. Head office, Montreal.
DIRECTORS.— Richard B. Angus, George Bury, Herbert S.
Unit, Charles R. Hosmer, Hon. Robert Mackay, David M cNicoll, Sir
Thomas G. Shatighnossy, Gen. Frank S. Moighen. John K. L. Ross,
Montreal, Can.; Hon James Dunsmuir, Victoria, B. G.; Sir Sandford
Fleming, Ottawa; Wllmot D. Matthews, Sir Edmund B. Oslor, Toronto;
Sir Thomas Skinner, Bart., London. Eng.; A. M . Nanton, Winnipeg.
— (V. 101. p. 623. 688, G99, 1271. 1369, 1384.)
------- ^-----„ /u
\
* /O
•/
ptWLt UUIL1 tilt) lUl/. IkU
CAPE GIRARDEAU NORTHERN R Y .— Owns from Thebes Bridge
sales and extraneous assets, making yearly rate 10%. V. 92. p. 117, 955.
to Farmington. M o., with branch from Saline Junction to Chester, total
BONDS DEBENTURE STOCK. GU ARAN TEED BONDS, A c.— 116 miles. A consolidation Jan. 1 1913. Controlled by .1. Hunter Byrd of
List of securities owned Juno 30 1915 in V. 101, p. 700.
St. Louis and associates. V. 95. p. 1683: V. 96, p. 201. In April 1914
*9! 4;A ? f£61A:79,7 4 % consol. deb. stock was sold. Tho stockholders J. W. F'rlstoe was appointed receiver. V. 98. n. 1315, 522; V. 100. p. 1591.
Stock
auth., $2,500,000: par, $100. Bonds, V. 96. p. 1555. Tho U. S.
“ re stock91'VaU97? rp.e524 .° i ^ T l 1f r * 3 ’474’000 4 % consolidated debon- Dlst. Court
on June 26 1915 held that tho bondholders havo a claim against
The $34,998,633 1st M . sterling debentures duo Julv 1 1915 were all r o tho St. Louis A San F’ranclsco R R. for tho difference between tho par valuo
of the bonds and their market value on account of tho failure of tno St. L,
544^ V6 T ooefj>r° 139^228 ' V '
P' 1421' 1488: V ' 97 ’ p ' 175: V ' 99■P- A S. I1', to purchase or retire bonds as agreed by it. V. 101, p. 46. Re­
comPany agreed to guarantee the principal and Interest of ceivers certificate Jan. 1916 $93,700; bills paynblo $135.900— (V.101, p.146.)
$20,000,000 4% bonds to be Issued by the Dul. So. Sh. A Atl •also 4% lnt
CAROLINA ATLANTIC & WESTERN R Y — See Soaboard Air Line.
on consolidated bonds of the Minn. St. p. A S. Ste M.. and In 1899 Interest
CAROLINA Cl.INCHFIELD A OHIO RY. — (See Map.)—Owns from
on tho 2d M . 4s of the latter. Owns Dul. S. S. A Atl. consols, $15,107,000.
Elkhorn. Ivy., to Spartanburg. S. C .. 277 m.: branch, Kiser, Va., to Laurel
St. Lawrence A Ottawa bonds are endorsed with the Canadian Pacific's ac­ Jet.,
Va., 6 in.; trackage, Kiser to St. Paul, Va., 8 m.; total, 291 mllos.
ceptance of o 999-year lease at a rental sufficient to pav 4% lnt. on bonds, As extended Julv 1 1915 by line then completed from Dante, Va., to Elkand the bondholders agreement to accept lnt. at 4% (Instead or 6% ) and to horn Ry., 35 miles, forms a low-grado heavily built link In tho through line
refrain from demanding principal (due 1910) during lease. V. 90. p 1361
for general traffic between tho Great Lakes and the Atlantic soaboard,
The Lew Brunswick Railway consolidated debenture stock has Interest
also extensive coal operations owned by Clinchfield Coal Com.
guaranteed by Canadian Pacific; Interest on the 1st mtee. bonds though serving
(affiliated). Sec V. 101, p. 2070; V. 102. p. 611; V. 94, p. 1448; V. 97.
not guaranteed. Is paid out of rental under 999-year lease of 1890
p.
1661:
98. p. 1692; V. 100, p. 900. Connects at Bostic, N. 6 ., with
The Catoary A Edmonton Ry. debenture stock Is guaranteed Interest at Soaboard V.
Air Lino R y., with which close relations are maintained and tide­
4% under new lease of 1903. V. 76. p. 435: V. 77, p. 636.
water
is
reached.
V. 88, p. 911: V. 87. p. 670. In April 1910 tho Cumber­
The Lindsay Bobcaygeon A Pontypool Ry. bonds arc Issued under a 99- land C om ., which owned
control, was placed in liquidation. Seo V. 102,
year lease covering the Interest. V. 77. p. 1225- V 79 p “>08>
p. 1436; V. 95. p. 113, 353. Financed by leading Now York bankers. Seo
The Interest on the Aroostook Valley (Electric) RR. 20-year 4 w‘% bonds
roport
of
expert
in
"Chronicle”
of Juno 3 1916, p. 2076.
which has completed a first unit of 14 miles from Presque Isle to Washburn
STOCK. -Authorized, $50,000,000, of which $25,000,000 is 6% pref. and
M e.. Is guaranteed.
V. 89. p. 846: V. 90. p. 107: V. 92. p. 259
’ $25,000,000
com.; outstanding, $25,000,000 com. and $11,500,000 pref.,
Ro,lllng s .t°ck A Realty Co. 44*% bonds are payable In series of of which SI,«>00,000 is owned by tho Holston Oorp., a subsidiary of tho
$470,000 semi-ann. to July 1928. V. 99, p. 1672, 543: V. 100. p. 139.
railway. A further $2,000,000 pref. is deposited with trustee of mortgago
SPECIAL INVESTM ENT FUND NOTE C E R TIFIC A TE S.— On gold notes to provido for conversion of notes. V. 91. p. 1625. Dividends
Dec. 8 1913 a trust fund was created known as "Tho Special Investment on pref.. 3% semi-annually March 1913 to Sept. 1914. inclusive. Nono
Funds ' made up o f deferred payments on land sales and securities in which since to Oct. 1915. In Feb. 1910 arranged with Southern Ry. to send coal
the cash proceeds o f land sales aro Invested, to tho aggregate of $55 000 000- to Charleston, S. C., for export. V. 90, p. 558; V. 95, p. 359.
Royal Trust Co. o f Montreal, trustee. Tho trustee will receive all tho’nrce
BONDS.— First mtge. of 1908. see V. 86, p. 667, 856; V. 88. p. 944.
coeds from the Items constituting the fund. Stockholders were offered the
The $2,000,000 10-year 5% mtge. gold notes follow In Hon the $13,500.­
right to subscribe pro rata for $52,000,000 6% note certificates at 80. The 000 first 5s of 1908. They are subject to call as a whole or may he drawn
certificates will be payable at their face valuo on or before Mar. 2 1924 but In part by lot. V. 89, p. 285. Tho $5,500,000 Elkhorn Extension 5-yoar
may be redeemed by drawings at any time. V. 97, p. 1732 1897- V 99
1st M. 5% notes were sold to construct Dante to Elkhorn. V. 95, p. 358,
p. 544.
’
’
' 418,
4S0: V. 98, p. 688.







24

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia te ■ A c ., see n otes o n fir s t p a ge]

M ile s
R oad

D a te
B onds

Caro Ctinchf & Ohio— Lick Crk & L E 1st M a ssu .-.i
8 1903
1st M $15,000,000 red 110................ ................... F.xo
256 1908
M ortgage gold notes $5,000,000 redeem p a r.E q .x o'
1909
Elkhorn E xt 1st M g notes (V 97, p. 1662)___Ba.xi
1912
Equipm ent gold notes ser " A ” due $ 130.00 0 sa .lia :
1908
do
do
Ser “ B ” due $50,000 s a ______ Unx
1910
do
d o Ser‘ ‘ C” (V .88,p .45 l)d u e $50,000 s-aNx
___ 1912
do
do
Ser“ D ” (V 97,p49)due$25,000s-a.N x
___ 1913
do
d o Ser " E ” duo $13,000 s-a ______
1914
___ 1903
Carolina & Northwestern— 1st M $2,500,000g o ld .-G x
C aldw ell* Northern 1st M ________________________ x
1907
C a r o lin a & Y a d k in R iv— 1st M g red 105 s f.E q .x c *
35 1912
C a r th a g e & A d ir a n d C a r th a g e W a ter & S ack Mar — See N Y C
___ 1898
Catasauqua & Fogelsvillc— First M g o ld ___PeP.xo"
Catawissa— Pref stock 5% guar P 4 R R y (see text)
___
___ 1898
First consol m ortgage $2,215,000 g o ld ____ PeP.xc*
Cayuga & Susquehanna— Stock 9 % rental D L A W .
34
Cedar Rapids Iowa Falls & Northwestern— See Chlca go R o ok fsla
Central Arkansas & Eastern— See St Louis Southwest ern
Centra
C en tra l o f G e o r g ia R y — Preferred stock 6 % cu m ___
1st M $7,000,000 gold _________________
(l.x o 'A r
312 1895
Consolidated m ortgage $18,500,000'gold__Ba.xo* Ar 1.493 1895
M obile Dlv 1st M (Columbus to Andalusia' g_ _G.xo*
138 1895
Macon & North Dlv 1st M $840,000 gold._A lB a.xc*
102 1895
Ocon Dlv 1st M Brewton to Dover $6,000 p m .(i.x o *
77 1901
E atonton Branch first m tge not guaranteed gold .x
21 1896
Mid Ga & A tl Dlv 1st (consol) M $9,000 p m ._G .xo*
65 1897
Chattanooga Dlv puroh m oney M $2,400,000 gtl.xo*
164 1901
Chattanooga R om e & So 1st M $500,000 gUn.xo*
138 1897
Upper Cahaba m ortgage gold redeem 102 )4____Nx
12 1905
Greenville & New 1st M gold redeem 102 >4_____ Nx
24 1906
Gen & ref M $80,000,000 auth g red textU sm xc’ A r*
1912
1st pref Incomes') Interest up to 5 % ( __________ A1 pz
1895
2d
do
d o 1 gold If earned •)___________ Ccz
1895
___ 1895
3d
do
d o J non-oum ulatlve [ ___________ Baz
Central R R & Bk coll tr bonds g red at 110___Ce.o*
.
1887
Equip trust series I (V 83, p 751)_______________ GPx
___ 1906
do
do
series K $38,000 sem i-annually____ x
1907
do
do
series L $50,000
do
d o ..........
1916

P ar
V a lu e

F Ao
M A
J A
,r A
j
A
,r A
Ao
j
j
A
j
A
F A
M As
A A
Oct
Oct
5
5
Oct
M A
5 g
A
4)4 g J
M A
5 g
J A
4)4

C A R O L IN A & Y A D K IN R IV E R R R .— Owns High Point via T hom asville and Denton to High R ock . N . C ., 35 miles. T w o extensions are p ro­
posed, one from High Point to Greensboro, about 14 miles, and one from
D enton to T ro y , abou t 23 miles, at a connection with the N orfolk & South­
ern R R . The main terminal in High Point was com pleted Juno 1 1914.
Connection with street railway tracks o f N orth Carolina Public Service O o.
were m a d eM a y 5 1915, and at present 10 new Industrial sidings have been
connected. Freight is switched electrically to the main line.
Stock authorized, com m on, §3,000,000; prof., 5 % non -cum ., S l.000,000;
outstanding Juno 30 1915, com m on, §1,540,000. and p ref., §300,000; par
$100. Bonds (§3,000,000 auth. issue are redeemable at 105 on any inter­
est date; sinking fund 1% o f gross earnings, July 1 1918 to 1922: 1 )4 % 1923
to 1927: 2 % 1928 to 1932, and 3 % thereafter. Car trusts outstanding
Juno 30 1915, §1,500: loans and bills payablo outstanding, $40,216.
E A R N IN G S .— For year ending June 30 1915, gross, §70,075; net, §6,184:
other incom e, §183; rentals, taxes, & c., §11,604: int. on bonds, §36,651:
bal., d ef., §41,888.
President, Bird S. Coler, New Y ork; V ice-Pres., E . C . Deal; Sec. A Treas.
L . H . Hole Jr. O ffice, High P oint, N . O. N . Y . office, 43 Cedar S t., N .Y .
'•'(CATASAUQUA & FOG ELSVILLE R R .— Catasauqua, P a., to Rlttonhouse G ap, Pa., 30.9 m ., and branches, 31.62 miles. Stock. §426,900 (par
$25); §254,125 is owned b y Reading C o. Divs. paid in 1904-05, 8 % ; in
1905-06, 8 % ; in 1906-07, 8 % : 1908-09. 8 % ; 1909-10, 10% ; 1910-11, 10% ;
1911-12, 10% ; 1912-13, 10% ; 1913-14, 10% ; 1914-15, 2 0 % . Year 1914-15.
gross, $204,664; not, §85,677, asgt. §82,299; other incom o, §21,442; interest
taxes, A c., $17,695; a d d ’ns and betterm ents, §6,599; b a l., §82,825; divi­
dends (2 0% ) paid in 1914-15 out o f accumulated surplus, §85,380.— (V .
81, p. 149.)
C ATA W ISSA R R .— Owns from Tamanend, Pa., to Newberry Jot., Pa..
104.05 miles; second track, 40.07 miles; total, 222.20 miles. Re-leased
Deo. 1 1896 for 999 years to Philadelphia A Reading Railway. Rental,
int. on bonds, 5 % dlvs. on pref. stock, all taxes and $8,000 for org. exp.
See also V. 63, p. 969, 1116
Of the pref. stocks, $1,000,000 Is 2d pref.
C om m on, $1,159,500; par, $50.— (V . 72. p. 1187; V. 96. p. 1421.)
C A T S K IL L M O U N TA IN R Y .— Narrow-gauge road from Catskill up
tho Catskill M ountain to Palenvllle, N . Y ., 16 m .; leases Cairo R R .,
Cairo June, to Cairo, N . Y ., 4 miles; total, 20 miles. All tho properties
wore bid in at foreclosure salo on April 26 1916, free o f all lions, by tho
Hudson Rivor D ay Lino interests. V. 102, p. 1625, 1810.
O K A R N 1 N G S .— Y ea r ending Juno 30 1915, gross. $36,878; net incom o,
§563; interest, taxes, & c.. $10,797; bal., d ef., §10,234.— (V . 102, p. 1810.)
• C AYU GA & SUSQUEHANNA R R .— Owns from Susquehanna River to
Ithaca, N. Y „ 34 m. Leased during length of charter and renewals thereof
to the Delaware Laok. & Western at a rental of $54,600 a year. Dlvs. paid
are 9 % yearly, with an occasional extra amount; In 1904 9 )4 % was paid.
1.924 miles

L i n e s le a s e d (see these oos.) M i l e s
295 Southwestern R R .—
82
Macon to Eufaula___________ 144
156
Fort Valley to P erry_________
12
62
Fort Valley to Colum bus____
71
80
Smlthvllle to Colum bia_____
85
49
21
Cuthbert to Fort Gaines____
36 Augusta & Savannah R R .—
MUlen to A ugusta___________
53
198 Chattahoochee & Gulf R R .—
18
Columbia to Lockh art______
91
18 T ra o k a g e ______________________
14
138
102
Total oper. July 1 1915____ 1.924
77
10 Also owns M eldrlm to Lyons, 58 m.
9
(leased to Seaboard Air Line).
Ocean SS. C o., est. equlv. o f ____300
24 Controls W rlghtsvillc & Tennllle and
W adley Southern R y .
T otal o w n e d ________________1.432
O R G A N IZ A T IO N .— Succeeded N ov. 1 1895 the Central R R . * Banking
Oo. o f Georgia, foreclosed. V . 60. p. 1008: V. 61, p. 6 8 . In Jan. 1916
the I.-S . C . C om m , consented to com p any’s retention o f Ocoan SS. C o.
V . 102, p. 344.
In June 1909 the $5,000,000 stock was acquired by the Illinois Central,
but the road Is operated Independently. V. 88, o. 1559: V. 84. 0 . 1551 :
V . 85, p. 1082, 1268: V. 8 6 . p. 667. On June 3 1912 §15,000.000 p re f.
stock was Issued to retire the incom o bonds acquired by III. C ont. ($14,461,­
000), remaining $539,000 as presented; V. 94. p. 1316, 1565: V. 95, p. 1037.




W h en
P a y a b le

PacIQ 0

C A R O L IN A & N O R T H W E S T E R N R Y .— Owns standard-gauge road
Chester. S. C ., to E dgem ont, N . C ., 133)4 miles.
In M ch. 1900 nearly all stock was acquired by a syndicate. Stock author­
ized, $1,000,000 each of com . and 4 % non-cum . pref.; outstanding, July
1913, $854,250 com . and $550,000 pref. stock. Of the 50-year 1st gold 5s
due July 1 1953 (Standard Trust Co. o f New York, trustee). $1,500,000 were
used to retire all underlying bonds and $ 1 ,000,000 were applicable to exten­
sions, new equipm ent. A c .. o f which $200,000 (incl. §172,000 in treasury
July 1915) have been issued. Year 1914-15, gross, §410,732: net, §94,034;.
other incom e, $171: Int., taxes, A c ., §157,381: bal., d ef., S63.178. P res.,
W m .A . B arber, 165 B roadw ay, N ew Y ork .— (V . 91, p . 870.)

R Y .— Operated July 1915

%

1,000
1,000
1.000
1.000
1.000
$500
1.000
1,000
1.001)
1.000
1,000
1,000 A c
1,000
1.000
1,000
1,000
1.000
1,000
1,006

R E P O R T .— Results for year ending Juno 30 1915, see V . 101, p. 1457:
Gross, §2,260,776; net, after taxes, §904,200; other incom o, §232,573; in t.,
rentals, & c., §988,967; bal., §147,806. In 1913-14, gross, §2.679,208; not,
after taxes, §1,292,599. See report for 1913-14, V. 99. p. 966.
M ark W . P otter, Pros., 24 Broad S t., N . Y .— (V . 102, p . 1435, 2076.)

ile s .

R a te

§200,000
§1,000 13.750,001
1.000
2.000,001
1.000
5.600.001
1,000
550,001
1.000
400,001
1,000
650.001
1,000
225.00C
1,000
221,001
1.000
1,700.00C
1.000
543,001
100 A c
1,000.000
A Hud R Iver R R .
1,000,
135,000
50
3,200,000
1.0 0 0
2,215,000
30
5 89,1109%
nd A Pac Iflc R y
1 Branch — See Mlsso url

E A R N IN G S .— 10 m os., 11915-16____Gross, §2,380,060; net, §1,082,624
JulyjjlfctolApr. 30.
\1914-15------ Gross, l,780,218;)n et,
712,899

C E N T R A L O F G E O R O IA
(1,432 miles owned):
L i n e s o w n e d In f e e —
M
Savannah to A tlanta__________
Gordon to C ovin gton __________
Columbus to Birmingham. A la .
Columbus to Am erlcus_________
M ontgom ery to Eufaula, A la ..
Columbus to Greenville, Ga____
Opelika to R oan oke___________
Eufaula to Ozark
Griffin, Ga„ to Chat., Tenn., A o.
Chlckamauga to Durham _____
Savannah to T y b ee_______ :____
Columbus to Andalusia_______
Macon Junction to A thens____
Brewton to D over______________
Barnesvllle to Thom aston_____
Lyerly B ranch_________________
Upper Cahaba Branch
Greenville to R ay m on d _______

A m ou n t
O u ts ta n d in g

7,000,000
18,500.000
1.000.000
840,000
462.000
$168,000
413,000
2,057,000
343,000
285.000
285.000
See text
146.500
104.800
48.000
4.840 000
90,000
76.000
1,000,000

J
,r
.1
M

[Vol. 102.
L a st D iv id en d
a n d M a tu r ity

P la c e s W h e r e In te r e s t a n 4
D iv id e n d s a re P a y a b le

5
5 g
5 g
5 g
5 2
5 e
5 g
5 g
5 g
5 g
5
5g

J
F
J
A
J
J
J

A J Jan 1 1933
W ash (D C ) L oanA T r Oo
A n June l 1938
Blair A C o , N ew Y ork
A j July l 1919
do
do
A N May 1 1917
do
do
A D T o Deo 1918
do
do
A J Jan 1920
do
do
A A Aug ’ 16-Aug ’ 22
do
do
A
J July ’ 10-July ’20
do
do
& O T o Oct 1924
do
do
A J July 1 1953
Checks mailed
A D June 1 1957
do
do
A D June 1 1962

4 g
5
4
i n ’ 15

,T
M
A
J

Aj J July 1 1928
Reading Terminal,
Ag N M a y l9 1916 2)4 C om pany’s Office,
A O Apr 11948
R eading T erm inal,
Afl J July 1916 4)4 30 Pine Street New

5 g
5 g
5 g
5 g
5 K
5g
6 our
4g
5g
4 g
4g
5 g
5

J

July 1915 6 %
A N ov 11945
N N ov 11945
J Jan 1 1946
.1 Jan 1 1946
D Deo 1 1945
n June 1 1920
j Jan 1 1947
D June l 1951
J July 1 1947
A Aug ’ 16-Aug ’25
s S e p fl6 -S e p ’25
0 O ct 1 1962
1 N ov 11945
1 N ov 11945
1 N ov l 1945
N May 1 1937
,J July 1916
S T o Mch 1 1917
J Jan 1 1926

Phlla
Phlla
Phlla
York

Guaranty Trust Co N )
do
do
do
do
do
do
do
do
Savannah, Ga
Guaranty Trust Co, N Y
Guaranty Trust Co, N Y
Union Trust Co, New Yk
Guaranty Trust Co, N Y
do
do
Guar Tr Co,N Y or Savan
do
do
do
do
Guaranty Trust Co, N Y
K ountze Bros, New York
do
do

D I V I D E N D S .— On prof, to July 1914, 6 % per aun.; July 1915, 6 %
V . 100, p. 53, 228. On coin ., 1912-13, 1913-14 and 1914-15, 6 % ,
B O N D S.— The f i r s t m o r t g a g e of 1895 (described In V . 63, p. 1160) Is a
f i r s t l i e n on the m a i n l i n e from Atlanta to Savannah. Including the Mllledgevllle branch (312 m . In a ll), all equipment and appurtenances, and the e q u i t y
In $1,995,000 stock of Ocean SS. Co. V . 84. p. 529, 605: V . 87. p. 550.
A pplication for listing firsts and consols in V . 63, p. 1160.
The c o n s o l , m t g e . (see abstract V . 61, p. 873; also V . 63, p. 1160: V . 83, p.
1347) Is a f i r s t l i e n upon 600 m . (including former M ont. A Eufaula R R .
Sav. A W estern and Sav. A A tl.); also on the leases of the South Western
and Augusta A Savannah roads and the stock of New England A Savannah
teamshlp C o., and a s e c o n d l i e n upon the main line. Its equipment, A c., and
also on the Macon A Northern, Mobile A Girard, and other divisions. It
also covers all leaseholds, securities, A c. V . 85, p. 605; V . 89, p. 777.
C o l l a t e r a l t r u s t m o r t g a g e abstract was In V . 45, p. 242.
The C h a t t a n o o g a D i v i s i o n m o r t g a g e covers the former Chattanooga
Rom e A Southern R R ., Carrollton. Ga.. to Chattanooga, T enn., 138
miles, and Durham to Chlckamauga, Ga., 17 miles, with branches. In all
164 miles, subject to $343,000 old 5s. for which a like am ount of bonds is
reserved. V . 72. p. 1134; V . 78. p. 1446.
U p p e r C a h a b a B r a n c h bonds are secured b y coal lands In Northern Ala­
bam a, also b y road H enry Ellen to Margaret, A la. V . 81. p. 920, 1099.
O f tho General and Refunding bonds o f 1913 ($80,000,000 auth. issue),
with int. not to exceed 5 % , on June 30 1915 $122,000 had been sold, $6,515,­
000 were in treasury unpledged, §636,OOO woro in hands o f trustco for
authentication on dem and, §31,413,000 reserved to retire old bonds, § for § ,
and tho remaining $40,314,606 for acquisitions, extensions, A c. V . 98, p .
452. Series A bonds are callable as a wholo only at 110. V. 95, p . 110,
889, 1037.
IN C O M E B O N D S .— See preferred stock above.
L A T E S T E A R N IN G S .— /1 9 1 5 -1 6 ..G ro s s, $10,629,508; not, §3,246,202
10 m os., July 1 to A pr. 30.11914-15--G ross, 10,423,225; not, 2,823,630
A fter allowing for uncollectible rovenuo and taxes, operating incomo
from July 1 to A pr. 30 was $2,707,944 in 1916, against §2,344,307 in 1915.
R E P O R T .— For 1914-15, in V . 101, p. 1547:
Y e a r e n d i n g J u n e 30—
1914-15.
1913-14.
1912-13.
Operating rev en u es_________________ $12,108,184 §14,326,575 $13,854,872
Operating expenses.................................. 8,973,511
1’',785,764 10.324,964
N et operating rovenuos____________ §3,134,673
Operating incom o (after taxes, A c.)_ §2,547,633
$2,547,633
Other incom e________________________
1,355,998

§3,540,811
$2,900,214
898,787

§3,529,908
§3,004,853
725.909

T otal Incom e....................................... $3,903,631
§3,903,631
Interest on funded debt, A c ___
§1,826,426
Rentals and miscellaneous____
875,200
Preferred dividend (6 % ) _______
900,000
C om m on dividend ( 5 % ) _______
250.000

$3,808,001
§1,840,403
876,556
900.000
*250,000

§3,730,852
§1,894,498
612,891
900,000
250,000

Balance, surplus__________________ sur.§52,005 dof. $58 ,95 8 sur. §73,463
* Deducted by com pany from profit and loss. Com parison with 1912-13
figures are somowhat inaccurate.
O F F IC E R S .— Chairman. Charles H . M arkham , C hicago, HI.; Prosit.,
W . A . W inburn, Savannah, G a. General office, Savannah, G a.— (V . 100.
p. 53. 228, 1078. 1436; V . 101, p. 212, 1464, 1547; V. 102, 344.)
C E N T R A L IN D IA N A R Y .— M u n cio to Brazil, In d ., 127 milos, o f which
10 m . trackage. V . 76. p. 653. C ontrolled by C lov. C ln. C hic. A St. Louis
and Penn. R li. interests. B onds, guaranteed b y C lov. Cin. C hic. A St. L.
(which owns §60,000 s to c k ), are liinitod to §20,000 per mile. T ho Penn. C o.
on D ec. 31 1915 owned $750,000 o f tho $1,500,000 1st M . 4s. V. 77, p.
517, 2279; V . 78, p. 1906, 1961. Stock auth., §120,000. T h o Penn. C o.
owns §60,000 stock. Calondar year 1915, gross, $20S,574; dof. under oper.
oxp., §29.027; othor in c., $441; chges., §89,738; bal., d e f., §118,324. Pres.,
Joseph R obinson.— (V . 78, p. 1906, 1961.)
CEN TRAL NEW ENOLAND R Y .— Owns from Campbell Hall, crossing
the Hudson River at Poughkeepsie b y Its own bridge, to Sllvernalls, 36 m .:
Poughkeepsie, N. Y ., to Hopewell, 12 in.; Dutchess Jet., N. Y .. to State
line, 59 m .: Poughkeepsie, N. Y ., to Boston Corners, 34 m - total owned,
147 m : and leases and controls H artford A Conn. Western R R ., H artford
to Rhlneclltr, 110 m .: Tarllfvllle, Conn., to Agawam Jet., Mass., 14 rn.;
Agawam Jet. to Springfield, M ass., 3 m .: trackage over Now England R R .,
trackage over Boston A Albany R R ., W icopee June, to Flshktli Landing,’
1.65 m .; Hopewell Jet. to D anbury, 34.2 m .; total, 304 miles. V . 89. o !
918; V . 95, p. 418.
O R G A N IZ A T IO N .— On June 30 1915 tho N . Y . N . H . A H . R R . owned
$3,737,083 pref. and $4,795,054 com . stock. V . 85, p. 404, 858; V. 89,
0 . 469; V . 90. p. 1238. 1296. 1489: V . 91. p. 153, 396, 870.
S T O C K .— C om m on. $4,800,000; p ref., 4 % , $3,750,000: par, $100.
Dividend on non-cum . pref., 4 % , paid in 1913-14; in 1914-15, 4 % on
pref. and about 3 )6 % on com m on.
B ON DS.— Tho 1st guaranteed 4s of 1911 ($25,000,000 auth. Issue) are a
first lien on 137 miles o f road and the Poughkoopslo Bridgo; those unsold,
(except $287,000 resorved for Dutchess C o . bonds) aro sot aside for not
exceeding 75% o f the cost o f extensions, additions and im provem ents.
V . 98, p . 1315. V. 92. p . 1374. 1635; V . 94. p . 206; V . 96, p. 134.
E A R N IN G S .— For 10 m onths ending April 30:
10 M o n t h s —
G ross.
lit e r I n c .
C h arges.
N et.
B a la n c e .
1915-16 ................ $3,054,825 §1,720,155 §80,580 $1,061,135 §739,600
1914-15 ................ 3,291,865
1,078,924
51,266
823,073
307,117
12 M o s . e n d . J u n e 30. G r o s s .
N e t.
O th er I n c . C h a r g e s .
B a la n c e ,
1 9 1 4 -1 5 _________ $4,055,045 $1,343,115 $68,037 $1,001,863 $409,289
1913-14 ................ 3,764.259
1,118.443
72,045
960.467
230.020
D IV I D E N D S .— In 1913-14, on pref., §149.888 (4 % ); 1914-15, $320,826.
equal to 4 % on prof, and about 3 H % on com m on.
O F F IC E R S .— Howard E lliott. Now H avon, Pros.; A . 8 . M a y , Treasand Arthur E . C lark, Sec.— (V . 97, p. 666; V . 98, p. 1315; V. 99, p. 608.

R A IL R O A D

25

RAILWAY STOCKS AND BONDS

June, 191G.|
C O M P A N IE S

[For abbreviations. A c., see notes on first page.]

M ile s
R oad

D a te
B onds

Par
V a lu e

A m ount
O u tsta n d in g

R a te

%

W h en
P a y a b le

L a s t D iv id e n d
a n d M a tu rity

P la c e s W h e r e In te r e s t a n d
D iv id e n d s a r e P a y a b le

Central of Qa R y — ( C o n c l u d e d ) - O u a r a n te e r t. A c . . S e c u r itie s

Oooan SS Co llrst m ortgage gold guaranteed.Ce.zo*
Augusta A Savannah stock (no bonded d e b t)---------Southwestern Ltailroad stock (no bonded d e b t)-----Chattahooohce & Gull stock _______________________
First M gold $2,000,000 lnt rental sf red at 102 X x
Cent Indiana— 1st M $4,000,000 gu pA l end.C e.xo* Ar
Cent New England— Dutch Co R R 1st M g guarBa.xo*
0 N E 1st M $25,000,000g gu red l0 5beg’21 -F xo* Ar*
Central Ohio— See Baltimore & Ohio
Central Ontario R y— See Canada Northern R y —
Central Pacific— 1st ref M g gu p & 1 e n d .C e .x o 'A r
314s $25,000,000 gold guar p A 1 en d ------ U s.xo’ Ar
Luoln out-oll 1st M $10,000,000 gu (text) .a . x o ‘ Ar*
Bonds 250,000,000 francs guaranteed red p a r .-U s x
Nevada & Cal, A c, 1st M assum ed-------------------Oregon Eastern llrst m tge a s s u m e d -.......... .........
Other bonds— see text
Central RR of Haiti— 1st M U S gold (see text) (Lxc*
2d M
do
d o ___________ _______________ Gxo*
Central RR of N J — Stock ($30,000,000 authorized) . .
Central R R o f N J gen M $50,000,000 g o I d .-.C e .x rc
do
do
registered--------------- . - - - *
L A W B con M $20,000,000 serial g gqar.P eP .xo*
Am Dook A Im p Co 1st M guar redeem at 110. - -xo
N Y A L Br gen M g lnt gu Jtly ($ 192.000 5s) - -Cexo*
Lehigh & Hud Rlv gen M gold guar join tly ..C c.x a
Central RR of P enn—1st M $600,000 ext 1908 — -F P
Central RR of South Carolina— First m tge gold
xo
Central R y of Canada— 1st M £2,600,000 call 105— Central Counties 1st M (V 90. p i 169)------ -------- - - ­
Cent Ry of So Car— First M $150,000 g gu red - -CP
Central Terminal RR— See Minneapolis St Paul A Saul
b Includes $1,167,000 In treasury.

7

J July 1 1920
J July 1916 2 X %
J July
1916 2 X %
J July 1916 2 X %
J July 1 1930
N M a y 1 1953
D June 11940
J Jan 1 1961

Guaranty Trust Co, N Y
Savannah, G a
Savannah and M a con
Savannah, G a
Cltlzens’Bk,Savannah,Ga
Fid I T A S D Co. Pniia
Llnooln Nat Bk, N Y

1899 500 A c 98.904,000 4 g F <jC AD A u g 11949
1899 500 Ac 9.707,825 3 X g J A A u g 1 1929
9,640.000
1904 1,000
4 g A A ()S Oot 1 1954
M A
M c h 11946
4
1911 500 fr 48,262,548
8,500,000 6
M A N N o v 11941
1911
J A J Jan 1942
5,000,000 6
86 1912
1,000
1909
800,000 6 g J A D June 11919
1,000
1909
200,000 6 g J A D June 1,1919
100 27,436.800 12 in T 5 3— E M a y 1 1916 2 %
All 1887 1,0001 b45.091,000 / 5 g J A J July 1 1987
O —J July 1 1987
All 1887 500 Ac)
1910
1.000 14,496,000 ( 54 gg J A T June 1 1920-’50
1881
1,000 4,987,000 5
J A S.1July 1 1921
1,000 2.500,000 4 A 5 g M A Sept 1 1941
38 1891
1890
1.000 1,062.000 5 g J A J July 1 1920
31 1893 500 Ao
M A N M a y 1 1923
600,000 3
1.000
1 1921
40 1881
300.000 6 g J A J July
£ A * Seo Text
O— J Jan 1 1964
5
37 1909
£100
M A S 14 1949
£97,500
4
7 1906
500
150,000 6 g J A J Jan 1 1926
t Ste Marie R y

165 B r oadway,New York
do
do
do
do
London, Paris, Belg, <Jpe
O w n e d by South Pao Co
do
do
C o ’s office, 25 Broad St
do
do
Office 143 Liberty St.NY
Liberty Nat Bank, N Y
Check from Treas. Office
Liberty Nat Bank. N Y
do
do
Liberty Nat Bank, N Y
Irving Nat E x B k. N Y
Fidelity Trust Co. Philo
Bankers Trust Co, N Y

53
333
91
117
12
149

1890
1900
1903
1890
1911

$1,000 *1,000,000
100 1,022,900
100 5,191,100
436,400
100
1,000
258.000
1,000 1.500,000
1,000
287.000 4 X
1,000 Ao See text.

1,349
1,349
103
479

C ENT RAL PACIFIC R Y . — [ S e e M a p o f S o u t h e r n P a c i f i c . )
L in e s O w n ed —
MWe*. Hazon, N e v ., to Keeler, C al_.2 88.6 5
W eed, C al., to K irk, Ore____ 126.49
N atron to Oakridge, Ore---------- 34.39
M oja v e to Owengo, C a l---------- 142.90
Fernley, N e v ., to W estw ood,
C a l ............................................. 136.87
Niles to San Jose, Cal.........- 17.58
Niles Jet. to Redwood Jet-----16.24 B ra n ch es_____________________ 114.35

Oakland, A c., local lines------- 17.83
Oakland pier to Elvas. Cal— 133.46
Sacramonto, Cal., to Cecil
Jet., Utah---------------692.05

Umbria Jet., Nev.. to near
Ogden, Utah............... --.142.48
Lathrop to Goshen Jet., Cal--146.45
R^teaVteLinea! — — f — -296.59

Leased ................................

12.22

Total June 30 1915..........2,318.75

O R G A N I Z A T I O N . — Incorp. In Utah In July '99, per plan In V.68,p.378.

In 1914 the Government brought suit to separate tho company from the
Southern Pacific Co. V. 97, p. 1114; V. 98, p. 303. 522; V .101. p. 1884.
STOCK.— Tho Southern Pacific Co. owned the entire $67,275,500 com­
mon and $17,400,000 pref. Prof, is 4% cum. and participates equally with
common after 4% on all stock. All pledged as collateral for its coll, trust
4s
V 96 n. 419.
LATE DIVS. (Fiscal Years)— '07. '08. '09. ’ 10. '11. ’ 12. '13. '14. T5.
Preferred, % _______ - __________- 6
6 694 6 10 6
6 26.6 4
Common,
.............- .......... 6
6 6 « 6 10 6
6 26.6 I X
BONDS.— F i r s t r e f u n d l n o m t g e . gold 4s, $100,000,000. V. 69. p. 808*
and V. 70. p. 739; V. 78, p. 228; V. 87, p. 225, 285. 479; V. 88, p. 52.
T h i r t y - y e a r g o l d 3 M s , $25,000,000. secured by a second lien upon all the
properties covered by the 1st ref. mtge. and also by deposit with the trus
tees, as acquired, of all securities and moneys held In any sinking fund of the
Contral Pacific R y., consisting April 30 1915 of $4,585,779 in securities and
$467 cash, and by a trust deed upon all tho lands covorcd by mtg. dated
Oct. 1 1870. See Mortgage Abstract, V. 69. p. 858, also see p. 851. From
the proceeds of those sinking funds and land sales cancellations o f bonds are
made from time to time: to June 30 1915 $15 038.175 had been canceled
or purchased for cancelation, reducing those outstanding to $9,961,825.
Lucln Cut-ofr 4s are red. at 107 X any int. day.
V. 79. p. 1641, guar^ I n ’F ebf 19U the sale was arranged in France of 250,000,000 francs 4%
35-vear coll, trust bonds, guaranteed by the Southern Pacific Co (the latter
pledging as security for the guaranty part o f its interest in affiliated cos..
S o X s a Pacific R R -). V 92, p. 593, 794; V. 94. p. 130, 1762. In
Doc 1915 tho Southern Pacific arrangod to buy back a largo amount o f the
same presumably to turn them into dollar bonds. V. 101, p. 2146.
The $8,500,000 outstanding Nevada & California 6% bonds ($15,000,000
auth Issue) were assumed on purchase Feb. 29 1912; also $3,000,000 Cen­
tral California Ry., $1,000,000 Chico & Northern R R ., $2,500,000 Sacra­
mento Sou. R R . and $5,000,000 Oregon Eastern Ry. V. 94. p. 982. 1118.
All of tho five foregoing issues are owned by So. Pac. Co.
LAND GRANT.—Total land grant was about 12,000.000 acres, of which
about 7.183.558 acres unsold June 30 1915.
Sales in 1914-15, 108,445
acres. Land contracts July 1915, $2,560,556: avgo. price per acre, *5.13.
REPO RT.— Year ending June 30 1915, gross, $31,877,982; net Incomo,
after taxos, &c., *12,477,503; grass corp. incomo. after adding Int. on securi­
ties, A c., *13,157.650; deduct, int., rents skg. funds, & c.. *11.344,408;
bal., sur., $1,813,243: dividend appropriations $1,705,133; bal., *108,110.
In 1913-14, gross, $32,874,438; net, $11,342,327.— (V. 101, p. 1884.)
CENTR AL R A I L R O A D OF H A IT I.— Incorp. Mch. 10 1909 In New York
to finance railroad enterprises in the Republic of Haiti, as well as other
undertakings for tho development of that country. Owns Cle. dcs Chemlns
de Fer do la Plaine du Cul de Sac and Cle. Haltlenne du Wharf de Port-auPrince Line of road, about 65 miles. Gaugo, 2 ft. 6 in. Rail, steol, 45-lb.;
ioVomouives, 20; passenger cars. 26; freight cars 125: servico cars. 2.
In Fel> 1912 acquired the Cle. d’ Eclalrage hlectrlque des Villes de Portau-Prince ct du Cap Haltlenne. owning and operating the monopoly of
electric lighting In tho two principal cities of Haiti.
STOCK.— Authorized and outstanding, $1,450,000; par $100.
n o N D S .— Secured by plodgo o f $622,800 1st M . 5% and 6% bonds and
*760 000 capital stock of Cle des Chemlns do I; or de la Plalno du Cul de
Sac and *400,000 capital stock and $392,000 6% bonds of tho Cie. llaitienno
du Wharf do Port-au-Prince.
OFFICERS.— Pres., Philip W. Henry: First V.-Pres. and Treas., Henry
R. Tlppenhauer; Second V.-Pres., Arend Behrends: Sec., Charles Sternheim. General office. 25 Broad St.. N. Y .— (V. 91, p. 276.)
CENTR AL RR. OF NEW J ER S EY . — ( S e e M a p R e a d i n g S y s t e m . ) — Oper­
ates from Jersey City, opposite New York City, westerly to Wilkes-Barre
and Scranton, Pa., and the neighboring anthracite coal Helds; also southerly
to tho seashore resorts of New Jersey and to the Delaware River.
• See this com p an y.
M ile s .
L in e s O w n ed in F e e —

17

Jersey City to Phllllpsburg...............72 Nesquehonlng Valley •..................
Sundry branches............................. - 84 Lehigh A Susquehanna, Phllllpsburg to Union J et., A o ...............171
E n tir e S to ck O w n ed —
Wilkes-Barre & Scranton •_____
5
New Y ork & Long Branch R R ..
Perth A m b oy to Bay H ead— 38 Other lines_______________________
T ra cka ge—
New Jersey Southern R R .. Long
Branch to Atslon, A o----------------74 Union Coal R R __________________ 10
Other lines (no d e b t)................... lo4 Allentown Term , (o p e r .jo in tly ).. 4
Other trackage____________________ 30
L e a s e d ( M o s t l y f o r 999 Y e a r s )—
5
Dover & R ookaw ay R R ________
Total ,operated
.680
Ogden Mine R R •......... ................. 10
.
.. July
. 1915.
There are 262 miles of 2d. 41 miles of 3d and 30 miles of 4 tracks.
H IS T O R Y .— Reorganized In 1887 without foreclosure— see plan V . 44. p.
714 716. Concerning coal properties, see Lehigh & W ilkes-Barre Coal Co.
and Lehigh Coal & Navigation In "M iscellaneous." In 1901 Reading C o .
acquired *14,500,000 stock. V . 72. n.
, 136, 241, 391, 721. In Sept.
1913 tho Governm ent brought suit alleging violation o f both the Sherman
law and the com m odities clause o f the Inter-State com m orco law. in O ct.
1915 tho final docreo o f the U. S. D lst. Court dismissing said suit, ordered




5

86

5g
6
5
5
5g
4g
(6)
4 g

J
.)
.1
.)
M
gJ
J

J

A
A
A
A
A
A
A
A

See text

Colonial Trust Co, Plttsb

that this com pany must dispose o f its interest in the Lehigh & W ilkes-Barre
Coal C o. within 90 days. B oth parties have appealed to the U . S. Supreme
C ourt. V . 97. p. 666; V . 101, 1464, 1807.
D IV S .— V 91. '92 to '9 4 . '9 5 . *96. '9 7 . '98. ’ 99. '0 0 . ’ 01. 1 90 2 toM a y'16
Per c e n t - _ / 6 H
7 yearly 5 X
5 4X
4
4
5
5 8 yearly (Q -F ).
Also special 2 % s.-a . ( 4 % p. an.) from D e c. 1909 to June 1915 lncl. from
6 X % divs. on Leh. & W . C oal C o. stock owned. T he D ec. 1915 dividend
o f 2 % was paid, but not ou t o f Leh. A W . C oal C o. dividends. T he court
decision in the anthracite case having enjoined the com pany from receiving
paym ents b y that com pany. V . 102, p. 885. V . 89, p . 1410; V . 99, p. 1612.
B O N D S .— For g e n e r a l m o r t g a g e abstract, see V . 45, p. 402.
The $20,000,000 Lehigh A W ilkes-Barre con sol, serial 4s are guar. prln.
and ln t., and mature $2,500,000 every 5 years beginning June 1 1915;
$2,691,000 were reserved to retire the 5s due N ov. 1 1912. V . 9 0 ,p .1296,976
E A R N IN G S .— For 10 m onths ending A pr. 30.
10 M o n t h s —
G ross.
N e t.
C h a rg es.
B a l. S u r p .
1 9 1 5 -1 6 ...........................$30,142,663 $12,542,179 $7,877,337 $4,664,842
1 9 1 4 -1 5 ........................... 26,393,664 10,762,909
6,783,085
3,979.824
A N N U A L R E P O R T .— T h e report for 1914-15 was in V . 101, p . 1008.
Comparisons with items in earlier years are somewhat inaccurate.
E a r n in g s fr o m —
1914-15.
1913-14.
1912-13
M erch a n d ise.............................................$12,649,149 $12,220,103 $11,855,504
C o a l ................ - ......................................... 8,712.472
9,373,920 10,081.937
Passengers___________________________ 5,508.150
5,877,854
5,599.654
M a il, express, & c____________________ 1,872,485
1.779,215
868,662
T otal operating revenue...................$28,742,256 $29,251,092 S28.405.757
N et e a r n i n g s . .- .- .....................................$9,790,949 $9,509,248 *12.000,896
T otal not incom e.....................................$12,045,894 $13,040,013 $12,538,942
Interest on d e b t...................................... 2,473,288
2,619,373
2,508,267
M iscellaneou s............................
336.148
478,970
2,697 793
Rentals p a id ............................. .............. 4.173,630
4,467.086
4.040,466
______
-----Renewal funds, & c__________________
3,292,416
D ividends (1 2 % ).................................... 3,292,416
3,292,416 ____________
Balance, surplus____________________ $2,019,762 $2,431,518
P res., W . G . Besler.— (V . 102, p. 885, 1058.)
C EN TRAL R R . OF P E N N SY L V A N IA .— Owns Bellefonte (Penn. R R .)
to Mill Hall. Pa. (Pa. D lv . of N . Y . C. A H . R . R R .) . 27.3 miles; branch,
3.4 miles. Current liabilities June 30 1915, *724.898. For year 1914-15.
gross. *64.290; net, $3,317; other in c.. *207; charges, $23,469; deficit, *19,945. Stock, $600,000; par. $50. P res.. W . H . Gephart.— (V . 88. p . 1312.)
CEN TRAL R R . OF SOUTH C A R O L IN A .— Owns from Lanes. S . C ., to
Sumter, S. 0 .. 40.2 miles; spurs. A o., 1.61 m .; total. 41.81 m . Leased to
Atlantlo Coast Line R R .; rental, $31,000 yearly and taxes. S tock. $170,­
000; par. $50. In 1914-15, rental. $31,000: general expenses $326: ln t.,
$18,000; divs. (7 .2 % ), $12,240; balance, surplus. $1090.— (V . 64. p. 887.)
CEN TRAL R Y . OF C A N A D A — Projected to extend from Midland on the
eastern shore o f Georgian B ay on the Great Lakes to M ontreal, 343 miles,
with 95 m . o f branches. V . 98, p. 1315.1692. M ontreal Central Term inal
C o . would provide entrance to M ontreal. V. 98, p. 1845: V .9 9 , p . 748.
O f the new bonds (£2.600.000 authorized issue, lim ited to *30.000 per m .) ,
£500,000 wero offered in exchange for the old bonds. Trustee, C ity SafeD eposit & A gency C o ., L td ., L ondon. V. 98, p. 1315; V. 99, p. 747.
In April 1916, owing to war conditions, the principal subscribers to th o
bond issue had failed to pay up and judgm ents were obtained against them .
T ho com pany was at that time obligated for £386,485 (*1,880,894) on
account o f £304,825 1st M . 5s o f M a y 1914 that had been sold, and was
owing to creditors about £43,880, m ost o f which was secured b y pledge or
£123,000 ($598,600) additional o f said bonds. A plan (V . 102, p. 1810)
deposited with the Exchequer Court o f Canada M a y 3 1916 confirm s the
lion o f tho aforesaid bonds, but calls for the funding o f all interest thereon
current or overdue to and including Jan. 1 1921 into 6 % non-jum ulative
incom o bonds; it also calls for tho exchange o f the full am ount o f the claims
o f other creditors, both secured and unsecured, into said incom e bonds.
A ll cash G o v t, subsidies received up to Jan. 1 1921 will be used for construc­
tion and equipm ent, but after that date for 1st M . interest. Capital stock
auth., $7,000,000; issued, $2,328,500. Pres., H on. Williani Owens; V icePres., O. N . Armstrong; Treas., Henry W . Raphael; Sec., J. Douglas W ells.
O ffice, 103 St. Francis X a v ier S t., M ontreal.— (V'. 102, p. 1810.)
CEN TRAL R Y . OF SOUTH C AR O L IN A .— (V . 82. p. 927.)
CEN TRAL VERMONT R Y .— Operates from Rouses Point, at north end
of Lake Champlain, to New London, Conn., with branches, 536 miles In all,
of which 160 miles leased, viz.: New London A Northern (see that c o d . 121
miles; M on tvllle Branch. 3; W est River R R ., 36 m . V . 68, p . 1076. In M a y
1914 received authority to lease for 999 yrs. Southern N ew England R y .
partly built, Palmer, M ass., to Providence; and in M a y 1916 asked right
to purchaso it. V. 102, p. 1718. T he advances b y the Central Verm ont on
account o f this line had in Jan. 1916 aggregated $7,091,000, the C . V .’s loans
and bills payable Juno 30 1915 amounting to $6,753,942. V. 98, p . 1459;
V S E C U R IT IE S, Ao — T he Grand Trunk R y . holds $2,164,500 of the $3,­
000,000 stock. Form of interest guaranty, V. 85, p. 283. For Central
Vermont Transportation guar. 5 % bonds, see V. 88, p. 1252- guar, bonds
ooverlng 2 steamships. V . 94, p. 910. 1249. 1626. 1695; \ . 95. p. 749.
In June 1916 contem plated authorizing $30,000,000 bond Issue to provide
for funding, refunding, com pletion o f Southern New Enlgand R y ., future
im provem ents, & c. See "C h ronicle” June 24.
E A R N IN G S .— 10 m o s ..f 1915-16____Gross. $3,533,849; net. $695,117
July 1 to A pr. 30.
(1914-15____Gross, 3,177,082; net, 418,219
R E P O R T .— For year ending June 30 1915, V . 101, p . 1366.
Y ea r—
G ross.
N e t.
O th . I n c .
C h arges.
B a la n c e .
1 91 4 -1 5 ..................$4,210,411 $719,924 $66,220 $770,726 sur.$15,418
1913-14 .................. 4,538.779
366.7S5 193.720
819.763 d e f.259.258
T ho d eficit, $259,258 as above in 1913-14, was covered b y Grand Trunk
R y . as per guaranty. C om pare later data, V . 102, p. 65.

26

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[ F o r a b b r e v i a t i o n s , A c.- s e e n o t e s cm f i r s t p a g e ]

M ile s
R oad

Central Vermont— Stock $3,0 00 .0 0 0 _________________
First 21 $12,000,000 gold traffic guar_____ A B.xoftr
All
L ocom otive trusts last Installment (V 83, p 7 5 1 ) ___
__
Car trusts $13,000 or $14,000 due sem i-annually__
___
Eq tr notes due $49,000 each F ft A (V 94, p 350)x
___
Montreal & Province Line R y 1st M m a t p & 1 ____ c
40.6
C V Trans eq b d s g gu $12 M or $13 M d u e s -a .B a .x
do
d o SerB due $50,000 sernl-an gu ar._B a.x
C e n tra l VV Va & S o u t h R R — 1st M g s f red te x t_ .c*
30
wtiarleston & Savannah— See Atlantic Coast Line R R .
Charleston Terminal— FlrstM $1,000,000 g - .G .x c ’ &r
....
._.
Charleston Un Sta— 1st M $400,000 g gu(text)E qxo*& r
Charleston & W est Car— IstM g($8,000 p m )Ce.xc*& r
343
1st consol M Ser A ________________________S B a.xc*
343
do
do
______________________________________
343
Augusta Terminal R y 1st M gold guar p ft I end.xC c
__
Charlotte Monroe & Colum bia— 1st M $70,000 g ___c*
18
Charlotte Columbia & A ugusta— See Southern R y
Chartiers— See Plttsb Cincinnati Chicago & St Louis
Chattahoochee Valley— C V R R first m ortgage__ xx
8
Consolidated m ortgage $280,000...............
..A B x
24 34
C hattanooga S ta tion — 1st M g g u (te x t)_______Eq.xc&r
Chesapeake Beach— First mtge see V 81 p 9 7 4 --N.o*
28
Chesapeake & Ohio— Stock ($155,000,000 authorized)
.. . „
Terminal 1st M 1922 covering 8 m to Phoebus g .zo*
10
First consol m tge for $30,000,000 g o l d .. .C e.x o'& r
697
Rich ft All Dlv 1st & 2d Ms ($1,000,000 2ds)Ce.xo*
242
Craig Valley Branch first m ortgage g o ld _____Ce.xo*
26
W arm Springs Branch first mortgage gold ___Ce.xc*
25
General mortgage (for $70,000,000 ftc) g o ld ..C e .x c * 1.411)
Paint Creek Branch 1st M $750,000 g o ld ____Ce.xo*
23
C oal R iver IstM g a ss d ________ _
C e.xc*
86 34
Greenbrier R y 1st M $3,000,000 g assu m ed ..E q .x o*
101
Big Sandy R y first mtge $5,000,000 g o l d .. .Ce.xo*
86
Potts Cr Br IstM $1,000,000 auth(V 83.p 693)Ce.xo*
20
Virginia A ir Line 1st M $900,000 e assum ed_______ x
35
Raleigh ft Southw 1st M $l,5O0,OOO g assum ed.Cex
35 34
Gen fd & Imp M $11,000,000 red 107 34-U sm .xc*ftr* 1.(348
Convert g bonds $37,200,000 red text U sm .xe*ftr
___
C onvert g bonds 840,180,000 g .........................c*&r*
...

D a te
B onds

1899
1906
1907
1912
I960
1909
1912
1913

Par
V a lu e

$100
600 &c
1,000
1,000
100 fto
1,000
1.000
1.000

$3,000,000
11,750,000
20.00C
27,000
5 88.00C
200.00C
125,000
600.00(1
500,000

1903
1907
1890
1914
1914
1897
1902

1.000 ftc
1,000 fto
1.000
1.000
1.000
1.000
1.000

1896
1900
1907
1898

50,000
1.000
230,000
1,000 ftc
l .000,000
1.000
1.000,000
100 62,792,600
600 ftc
142,000
1.000 29.858,000
1.000
7,000,000
1.000
650,000
1.000
400.000
1.000 48.129,000
1.000
539.000
1,000
2.809.000
1.000
1,782.000
1,000
4,618,000
1,000
600,000
1,000
900.000
1.000
862,000
1,000 ftc
3,698,000
1,000 fto 31.390,000
500 &c 40,180,000

1882
1889
1890
1890
1891
1892
1905
1905
1900
1904
1906
1907
1906
1909
1910
1916

O F F IC E R S .— Chairman, E . J. Chamberlin; Pres., E . C . Smith; Clerk
and T reas., W . H . Chaffee, St. Albans, V t.— (V . 102, p. 65, 1718.)
C E N T R A L W E S T V IR G IN IA & S O U T H E R N R R .— Hendricks, W .
V a., to Arm entrout, 30 miles; leases R ed Creek ItR ., Red Creek Jet. to
L aneville, 5.70 miles; total, 35.7 miles. S tock. $500,000; par, $100.
B onds ($1 000,000 a uthorized ). o f which $500,000 reserved for now construe*
tjon. Callable on any lnt. day after Jan. 1923 at 105. Sinking fund ertlras 234% o f bonds outstanding semi-annually. Pros., R obert F . Wliltmer; 1st V .-P .. J. A . Harris; 2d V .-P ., W . H . Bower; T reas.. J. E . Richards;
S ec., Fred H . E ly , Philadelphia, Pa. O ffice, H endricks, W . Va.
CHARLESTON (S. C.) TE R M IN A L CO.— R O A D .— Owns terminal road,
6.02 m .; 14 wharves, 30 warehouses, 4 cotton compresses, fto. V . 77,
p. 148, 298. Stook, $200,000, owned Jointly by A tl. Coast Line R R . and
Southern R y .. which agree to make good any deficiency in Interest on bonds.
Loans and bills payable $30,000.
E A R N IN G S .— For year ending Juno 30 1915, gross, $227,363; not in­
com e, $27,369; int. on bonds. $32,000; b al., d ef., $2,573.— (V. 77, p . 146.)
CHARLESTON UNION STATION CO.— Owns passenger station at
Charleston, S. C ., used b y A tlantic Coast Line and Southern R y ., which each
owns one-half the stock and guarantees the bonds, p. & L, b y endorsement.
Rental covers Interest on bonds and 4 % on stook. V . 84, p, 50.
CHARLESTON ft W ESTERN CAR O LIN A R Y — Port R oya l, S . C „ via
Augusta. Ga.. to Spartanburg, S . 0 ., 246 m .; branches to Anderson a n d
9 r f e9,v1110, S* C ., 95 m .; leased, 2 m .; tota l, 343 m . E ntire stock owned by
A tl. Coast Lino C o. V . 66, p . 38. 335.
S T O C K .— $1,200,000; par, $100. See Augusta T erm . R y . V. 66. p .3 8 3 .
. B O N D S .— O f the 1st consol. 5 0-yr. bonds o f 1914 ($10,000,000 author­
Ized issued), $2,380,000, issued to retire the incom e bonds, have interest
payable at 2 % yearly for the first 2 years, 3 % for the next 3, 4 % for the
next 5 and thereafter 5 % . O f the remaining bonds (to bear Interest no
higher than the So. Carolina rate), $2,720,000 are issuable from time to
*ime to retire the old 1st 5s, $600,000 to take up the Augusta Term inal 6s
and $4,300,000 exten., betterm ’ ts or eonlp. V . 9 8 . p . 1315. V. 100, p. 1347.
Exchange o f the $2,380,000 Incom e B onds was com pleted in A pr. 1915.
Seo V . 100. p . 1347.
E A R N IN G S .— 10 m o s .,{1915-16____Gross, $1,586,128; not, $483,951
1,513,083; net,
280,295
July 1 to A pr. 30.
\ 1914-15____Gross,
R E P O R T .— For year ending June 30 1915, gross, $1,765,636; net, after
taxes, $339,808; other incom e, $41,117: int. on bonds, $243,400: rentals and
other charges, $65,653; balance, $ 7 l,8 7 2 , appropriated for add’ns and bet­
term ents. Pres., F . B . Grier, Greenwood; J . R . ICenly, 1st V .-P res.;
A . W . Anderson, 2d V .-Pres. and Gen. M g r.; R . D . C ronlv. S ec., Peters­
burg, V a.— (V . 98, p . 1315; V . 100. p . 1347, 2009.)
CHARLOTTE MONROE ft COLUM BIA R R .— Owns M cBee, S. C „ to
Jefferson, 18 miles. In Feb. 1913 W . R . Bonsai. Hamlet. N . C ., and
associates, secured control. Stock, $48,000; par, $100. Year ending
June 30 1911, gross, $16,683, Pres.. \V. R . Bonsai; Sec. & T reas., S.
O. Bauersfield. O ffice, M cB eo, S. C .— (V . 89, p. 1346.)
„ C H A T E A U d A Y ft L A K E P LA C ID R Y .— ( S e e M a p D e l . & H u d s o n . ) —
Operates from Plattsburg, N . Y ., to Lake Placid, 80 miles, of which Plattsburg to Dannemora, 16 in ., is leased at nominal rental from State of N. Y.
S tock, $3,450,000, of which $3,000,000 is 4 % pref., the latter all owned
b y D . & H . (V . 84, p . 50) and $450,000 com m on stock, o f which tho D . &
H* owns $75,000. Leased to tho Delaware & Hudson until Dec. 31
2403, any balance over expenses of operation. Interest, taxes, maintenance,
damages, dividend on pref. stock, fto., to go to the lessor. The lease is
su bject to revision at 5-year Intervals.— (V . 81, p. 613; V. 84, p. 50, 930.)
CHATTAHOOCHEE ft d U L F R R .— Columbia. A la ., to Floralla, 92 m .
^ L E A S E .— Leased In 1900 In perpetuity to Cent, of Georgia R y . for 6 % oc
$43b,400 stock and $407,000 bonds (o f which only $242,000 outstanding
Jan. 1 1915), o f which 1 % to be lined as a sinking fund for retirement o f
bonds, upon com pletion o f which rental will be 5 % on stock, payablo J.-J.
See C ent, o f G a. R y .— (V . 93, p. 1599: V . 95. p. 1607; V . 99, p. 1748.)
CHATTAHOOCHEE V A LLE Y R Y .— Standing R ook. G a.. via W . Point
to Jester, A la ., 32.5 m . In D ec. 1914 extensions was proposed from M c ­
C ulloch, A la ., to a connection with a line to Colum bus, about 15 miles.
Stock auth., $1,000,000: issued, $110,000; par. $100. B onds, seo table
above. Year 1913-14, gross, $102,517; net. after taxes. $33,041; charges,
$14,500; bal., sur., $18,541. Y ear 1914-15, gross, $108,652.
CHATTANOOGA STATION CO.— Owns union passenger station opened
Dec. 1 1909 and approaches at Chattanooga. T enn., used b y the Southern
R y ., Central of Georgia, Alabam a Great Southern and Cln. N . O. ft Texas
Pacific, which each owns one-fourth of the stook and guarantees the bonds
Jointly and severally, p. ft i „ b y endorsem ent. Rental covers bond Interest
and 4 % on s tock .— (V . 84, p. 50.)
CHESAF>EAKE & O H IO R Y .— (See M ap.) — On June30 1915operated:
L i n e s o w n e d in f e e —
M ile s .
C o n tr o lle d b y s to c k —
M iles
F t.M on roe,V a .,toC ovln g ton ,K y . 663 Bridge— Covlngton-Clnclnnatl _ 2
R ichm ond via Lynchburg, to
Ches. & Ohio R y . of Indiana_ 261
Clifton Forge, V a___________ 230
L in e s lea se d —
Branches In Va. and W . V a___ 652 Sundry branches leased____
38
Denton, K y ., to L exin gton____ 103 T r a c k a g e to Louisville_____
84
Big Sandy Jot. to Elkhorn City,
Trackage to W ashington, D. 0 .
85
with branch.................
128 Other trackage____________
55
Branches in K en tu cky_________
76
, Total o f all__________________ 2,e77
Second track (477 owned) 575 miles. Also controls H ocking Valley.
350 m ., C . & O. N or. R y . and one-sixth Int. In R ichm ond-W ashington C o.
T he Chesapeako & Ohio N orthern R y . (see caption that co .) is building
a 30-m ile lino which, as supplem ented by 32 inlles trackage over tho N o r­
folk & Western, will afford a direct connection w ith the H ocking Valley,
and thus to tho Great Lakes, replacing Kanawha & M ich . lino (V . 101, p.
1884) \ ° f the cost o f the now lino- estimated at about $4,500,000, $4,000,".
000. the proceeds o f sale o f Kanawha & M ichigan stock, is on deposit.
V . 100. p . 1751; V . 98. p . 1536. 1692.




A m ount
O u tsta n d in g

R a te
%

$2,185,
4 g
434
434
5
4 z
6 Z
6 sr
5g

800,000
4 g
250,00C
4 g
2.720,000
5 z
2,380.000 2 to 5
Seo text
600,000
6 g
70.000
5z
6
5
4 g
5 g

W h en
P a y a b le

L a s t D iv id e n d
a n d M a tu r ity

P la c e s W h e r e I n te r e s t an d
D iv id e n d s a re P a y a b le

100 held
Q— F
Q— F
A ft O
F & A
A ft O
M ft N15
M ft N
J & J

by Grand Trun
May 1 1920
N ov 1916
T o Apr 1917
Aug ’ 16-Feb ’21
Oct 1 1950
T o M a y 1921
T o M a y 1922
Jan 1 1933

k R y o f Canada
American Trust C o , Bost
Royal Trust Co, Montreal
Office, M ontreal, Canada
Blair & Co, Now York
Amer L & T r Co, IlostoD
Bankers Trust Co, N V
do
do
W est E nd T r C o , Phila

,T
J
A
J
J
A
A

ft
ft
&
ft
ft
ft

July
Jan
Oct
Jan
Jan
Apr
Oot

Guaranty Trust Co, N Y
Equitable Trust Co, N Y
Central Trust Co. N Y
N ow Y ork or Baltimore
do
do
Central Trust Co, N Y

J
J
J
J

ft J
&J15
ft J
ft J

J
M
J
J
5 g
M
434 g M
4 g
F
J
4 g
4 g
M
J
4 g
4 g
J
M
5 g
4 g
J
5 g
J
4 34 g F
A
5 g

6 K
5 g
4 g
5 g

[Vol. 102.

&

ft
ft
ft
ft
ft
ft
ft
&
ft
ft
ft
ft
ft
&

J
J
O
J
J
O
O

D
N
J
J
S
S
A
D
N
D
J
N
J
J
A
O

1 1953
1 1937
1 1946
1 1964
1 1964
11947
1 1932

July 15 1916
July 16 1920
Jan 1 1957
July 1 1923
D ec 31 ’ 14 1
June l 1922
May 1 1939
Jan 1 1989
July 1 1940
Mch 1 1941
Mch 1 1992
Feb 1 1945
June 1 1945
Nov 1 1940
Juno 1 1944
July 1 1946
May 1 1952
July 1 1936
Jan 1 1929
Feb 1 1930
Apr 1 1946

State Trust Co, Boston
Amer Trust Co, Boston
J . P . M organ & C o. N Y
In default
Office, 71 B roadw ay, NY
J P Morgan & Co, N Y
do
do
do
do
do
do
do
do
do
do
do
do
J P Morgan & Co. N Y
do
do
do
do
do
do
71 B roadway, N Y
J P Morgan & Co. N
do
do
Office 71 B’ w ay.N Y
N ow Y ork

H IS T O R Y , & C . — In 1888 reorganized without foreclosure. In 1909 a
syndicate headed by Edwin Hawley (now deceased) acquired about $24,­
000,000 stock, or virtual control. V . 8 8 , p. 294. Owns $8,825,800 of
$11,000,000 Hocking Val. com . stock. Ches. & Ohio R y . o f Indiana.
See below. V. 90, p. 1675; V . 91. p. 93, 214, 802.
Kanawha & M ich , stock was sold to T oledo & Ohio Central R y . as o f
June 1 1914 at par with lnt. from that date, $2,000,000 to be paid In cash
and remainder In T o l. & Ohio Central note due Sept. 1 1915, guaranteed by
Lake Shore & M ich . Southern R y . and fully secured. T he equity In Sunday
Creek C o. was sold on N o v . 7 1914. V. 96. p. 62, 134; V . 97, p. 1425; V. 98
p . 911, 1536; V . 99, p . 1066, 1055, 1450.
D IV S .—
11899 to 1908. 1909. 1910. 1911. 1912. 1913. 1914. 1915.
P er cen t------ f
1 yearly
3
43£
5
5
434
3
N ono
S T O C K .— A uthor, stock was increased in 1916 to $155,000,000, o f which
$37,200,000 was reserved for conversion o f 4 34s o f 1910 and $50,240,000 for
conversion o f 5s o f 1916. V. 102, p. 1162, 1625.
B O N D S .— A bstract or consol, m tge. o f 1939 In V . 49, p 147; V , 8 6 , f .
1588: V . 92, p. 260; of Richm ond ft Alleghany m tges., In V. 51, p. 144.
The G e n e r a l m o r t g a g e of 1892 (Central Trust Co. and H . T . W ickham,
trustees) Is for $70,000,000, but additional amounts at $25,000 per mile m aj
be Issued for double-tracking. See full abstract of mortgage In V . 54, p
644. In July 1915 $31,131,000 was reserved to retire underlying bonds.
Genera] Funding and Im p. m ort . V. 87. p. 1663: V . 8 8 ,p. 157.
T ho “ F i r s t L i e n a n d I m p r o v e m e n t ” m o r t g a g e o f 1911 is limited to $125,­
000,000 bonds, bearing interest at rates not to exceed 5 % . It provides for
extensions and impts. and the retirement o f certain equipment and other
obligations, including tho “ General Funding and Im provem ent” bonds,
and for other corporate purposes. T ho entire $44,765,000 outstanding
under this m tge. in Juno 1916 has been pledged to secure tho $40,180,000
convertible 5s o f 1916, duo 1946.
C o lla tera l P led g ed o r to b e P led g ed f o r F ir s t L ie n a n d I m p t . M o r tg a g e B o n d s .

C . & O. Equipm ent Corporation securities representing equip’t-$ ll,9 2 2 ,0 0 0
Ches. & O. R y . C o. o f ln d .— All stock, bonus and notes______ 13,716,308
H ocking Valloy R y . C o. stock (out o f $11,000,000 outstanding) 8,825,000
Ches. & Ohio R y . C o. General Funding & Im pt. bonds_______
7,302,000
Proceeds o f Kanawha & M ichigan stock sale (being principally
applied to purchase o f C. & O. Northern s to ck )_____________
4.026,500
Elkhorn & Beaver Valley R y. C o. stock ft bonds (V. 99, p. 119) 1,061,000
Logan & Southern R y . C o. s t o c k . . . ................................................
292,100
T he F i r s t L i e n A I m p r o v e m e n t M o r t g a g e bonds will thus bo (1) a. f i r s t l i e n ,
either directly or through deposit o f all stocks and bonds, upon 320.57 miles
o f railroad, viz.: (a) Directly on 29.34 miles o f coal branch linos in W est
Virginia; (b) through deposit o f all securities on 9.79 miles o f Logan &
Southern R y . in W . V a.. on 20.74 miles o f Elkhorn ft Beaver Valloy R y.
In K entucky, and on 260.7 miles o f main lino betweon Cincinnati and Chlcago. (2) a f i r s t l i e n on all stock o f C . ft O. Northern R y ., road under
construction, and 80.23% o f stock o f tho H ocking Valloy R y . C o. (3) A
lien on all tho remaining lines o f railway owned or controlled b y the com ­
pany, aggregating about 1,800 miles, subject to $101,872,000 prior lions.
The 434 % convertible bonds, due Feb. 1 1930, have a parity o f lien with
tho First Lion ft Im pt. bonds on such lines as wero owned on April 28 1910,
but not on tho above-m entioned collateral.
O f tho authorized $37,200,000 convertible gold bonds o f 1910. $31,390,000
wero Issued In that year. T hey are redeem able after 1915 at 102>4.
and convertible at par, at the option o f the holaer. Into stook between
M a y 1 1911 and F ob. 1 1920. V . 90, p. 771, 848; V. 91, p. 870, 945, 1159.
1574 •
T ho c o n v e r t i b l e 3 0 - y e a r 5 % g o l d b o n d s for $40,180,000, bearing interest
from April 1 1916, wero authorized In M arch 1916 (V. 102, p. 1162) to pro­
vide for the retirement on Juno 1 1916 o f $33,000,000 5-year 5 % secured
gold notes dated 1914 and for other financial requirements. T ho privilege
o f purchasing these new bonds at 9734 and lnt. was underwritten by a
syndicate) and offered to holders o f com m on stock o f record April 3 1916.
T ho bonds aro convertible at option o f holder at faco valuo into com m on
stock ( a ) at $75 per share up to and including April 1 1920, (b ) thereafter
at $80 per sharo up to and incl. April 1 1923. (c) tuon at $90 per share up to
and incl. April 1 1926, and (d) at $100 per share lip to and incl. April 1936,
with adjustm ent o f dividends and interest. T ho entire issuo, but not a
part thereof, is to bo redeemable at option o f com pany on any interest
date up to and Including April 1 1929 at 105% and Interest, and there­
after at 1 0 0 % and ln t., upon 60 d ays’ notice; in case o f redem ption during
tho conversion period tho privilege o f conversion shall terminate 30 days
prior to tho redem ption date. T he bonds are secured by deposit with
tho trustee o f $44,765,000 First Lien ft Im pt. M . 5% bonds, above d e­
scribed, and cash to the amount o f $1,010,625 in lieu o f $1,155,000 First
Lion bonds to be deposited hereafter. A proportionate amount o f tho
security m ay bo withdrawn as bonds are converted Into stock.
L o u i s v i l l e A J e f f e r s o n v i l l e B r i d g e . — See separate statement for that co.
G r e e n b r i e r K g . 4s V. 72, p. 626; seo also V. 71, p. 554, 602; V. 79, p. 915.
B i g S a n d y 4s o f 1904, V. 79, p. 917; V. 82, p. 297; V. 87. p. 225, 414,
1418. Guaranty, V. 81, p. 668.
Coal R i v e r 4s, V. 80, p . 2219; V . 83. p .6 9 3 ; V . 89. p . 720; V . 98, p. 452.
P a i n t C r e e k B r . 4s $211,000 reserved for extensions.
V . 81, p. 9 7 4 , oju,
R a l e i g h & S o u t h w e s t e r n 4s, V . 84. p. 1114: V . 89. p. 720.
C a t T r u s t, G o ld
S e r ie s . D a te .

(D e n o m

O u tsta n d in g .

in a tio n

$1,000

M a tu re in

E a ch ).
In s ta llm e n ts .

“ J"
190(34 % ................. x . $95,000 A ug. 1916
“ K ” 1906 4 % - . ............ X . 80,000 O ct. 1916
“ L”
1907 4 % _________ x . 224,000 July 1910-Jan. 1917
“ M ” 1907 4 % .................x . 226,000 A ug. 1 9 1 6 -F e b .1917
•‘ N " 1914 4 3 4 % ............. 1,360,000 D ec. ’ 16-Juno 15 ’24
“ O ” 1916 4 34% (call.
10234) .......... 3.160.000 July 15 ’ 16-Jan. 15 ’26
S. S. O . C o . 1913.............2,173.715
T o . Sept. 15 1918
O . L. ft C . W orks 1 9 1 4 .. 165,657 T o D ec. 15 1917
A . L . C o . 1914................. 412,219 O ct. 1 1917
L . ft C . W ks____ _______ 316,975 D ec. 1 1920

$95,000
80.000
1 12 .0 0 0
113.000
85.000

s.a.
s.a.
s.a.
s.a.
s.a.

158.000 s.a.

30,000

RAILW AY STOCKS AND BONDS
1 91 6 .
Iu n e




28

RAILWAY STOCKS AND BONDS

RAILROAD COMPANIES
[For abbreviations, A c., see notes on first page]

Miles Date
Road Bonds

Chcs. & O hio— (Concl.)
First lien A Impt mtge 5125,000,000
Car and equipment trusts (seo text).
Guaranteed bands—
2d M Inc n-c (C&O owns $400!.r>00)°not guar.zc*
Louis & Jeff Bdg 1st M 55,000,000 gu p A 1 en d .-c
do
do
do
Extension No 1
do
do
do
Extension No 2
Rlchraond-Washlngton Co (one-sixth Interest)___
Ches & O h io Nor— 1st M (closed) red 105 gu p & L_
Cues & O Ry of ind— 1st M 530,000,000 red par__ Bax
Ch C A L mlsc equip contracts to June 30 1913____
Chesapeake Western— C & W RR 1st M gold______N
Chesapeake Western Ry mtge 51,435,000 g--E q .c
Chesterfield & Lancaster— 1st M 5750,000 g ..C o l.x c
Chestnut Hill RR— Stock rental P & R R y __________
Chicago & Alton RR— Common stock______________
Preferred stock 4% non-cumulative______________
4% cumulative participating and prior lien stock ,.
Chic A Alton RR (old) ref M g (see text) IC.xc'Ar*
First lien (old Ry) M subject to call at par.F.xoAr
Debentures, subject to call...................Cexf Equally
Gen M 520,000,000 g red text. L'smxc’ &r’ l secured
C & A Eq Trust 582,000 Ser E due s-a______ Bax
do
Trust Ser F due 13M or 12M s-a_____ x
do
Ser Ggu red 101 due 572.000 an.PeP.xo*
Kansas City St Louis & C preferred stock guar___
Joliet A Chicago 7% stock perpetual guar by C & A
Louisiana A Missouri guaranteed preferred stock ..
Rutland Tol A No 1st M g gu red since Oct’ lS-NCc*

Par
Value

1911

__
__
__
.
30.3
262
27
41
38
4
__
__
889
943
__
__
__
_ .
162
37

101

27

Amount
Outstanding

Rate
%

See text

5

1888
1,000
820.000
1,000
1888
450.500
1895
1,000 a4.500,000
1.000
1898
500.000
1905
1,000
750,000
1906
1,000
83,000
1906
1.000
51,000
1903 1.000 Ac 10 ,000,000
1915 1,000 Ac 1 ,000,000
1910
1.000 6.774,000
76,176
1896
500' Ac
666,000
1901
1.000 1,419.000
1.000
186.000
1905
___
50
195,650
100 19,542,800
100 19,544,000
100
879,300
1899 1.000 Ac 45,350,000
1900 1,000 Ac 22 ,000,000
1907
971,000
1912 i . 0' 0'0 Ac 16.834,000
1908
1,000
410,000
1909
1.000
75,000
1.000
1910
326.000
100 1,750.000
__ _
100 1,500,000
100
329.000
1910
100 Ac
225,000

4g
4
4g
5
4J-*
4X
4>i
4 sr
5g

5

4 A 6
5g
4g
5g

When
Payable

[Vol. 102
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

Dec 1 1930
A
M
F
F
F
A
J
A
J

<5g O Oct 1 1938
Dot 1 Oct 1 1988
A S Mch 1 1945
A A Feb 1 1948
A Aug 1 1945
A A Aug 1 1945
<& O Oct 1 1946
A D June 1 1943
A O Oct 1 1945
A J July 1 1930

F
A
F

A A Aug 1 1945
A O Oct 1 1951
A A Aug 1 1955
D—M Juno5 1916. 1 Vi
6
F A A Feb 15 ’ 10. 2%
J A J Jan 16 1911.2%
J A J Jan 15 ’ 12. 2%
A <5c O Oot 1 1949
3 g
3 Vi g J <Se J July 1 1950
J A D June 1 1922
5
6 g J A J July 1 1932
B i g M & N To Nov 1918
4H
F A A To Feb 1919
5 g A A O To Oot 1 1920
0
Q— F May 1 1916
7
Q— J Apr 3 1916 1M
7
F A A M ay i 1916
A A O Oct 1 1930
4g

J P Morgan & Co, N Y
do
do
do
do
do
do
do
do
do
do
do
do
New York Trust Co. N Y
Office, 71 13'way, N Y
Office, 71 B ’ way, N Y
do
do

do
do
First National Bank.N Y
do
do
60 Wall Street, New York
do
do
Bankers Trust Co, N Y
do
do
Psnn Co for Ins,Ao.Phils
Checks mailed
do
do
do
do
Northern Tr Co, Chicago

a Guaranteed Jointly and severally with Cleveland Clnoln natl C hlcago A St Louis.

Net earnings.............. $11,907,623 $11,045,966 $11,036,084 $10,633,718
Other Income................ 1,018,219
2,144,650
2,154,531
2,225,537
Total net income-------$12,925,842 $13,190,616 $13,190,615 $12,859,255
Bond int., rents. &c-------- $8,912,808 $8,887,865 $8,887,865 $8,184,888
Taxes. ..................
1,349,497
1,330.935
1.330.935
1,375,863
Dividends........................ (1)627.816 (4)2511,264 (4)2511.264 (5)3139,080
Balance, surplus.........$2,035,720
$460,552
$460,552
$159,423
OFFICERS.— Chairman, Frank Trumbull; Pres., George W. Stovens,
Richmond, Va.; V.-P., Decatur Axtell; V.-P. and Gen. Counsel, II. T.
Wickham; Vice-President in chargo of traffic. F. M . Whitaker: Sec.. Carl
Remington; Treas., Jas. Steuart M acKie; Comp., L. F. Sullivan.
D IR E C TO R S.— Frank Trumbull, Chairman; T . P. Shonts, II. E. Hun­
tington, O. E. Graham, Decatur Axtell, George W. Stevens, F. H. Itawson,
* . H. Davis, James II. Dooley. N. Y. office, 71 B ’way.— (V. 102, p. 1986.)
CHESAPEAKE & OHIO NORTHERN R Y .— Is building 30.3 miles o f
railroad from Edgington, Kentucky, on C . & O. Ry., with bridge, A c.,
across the Ohio River to a connection with tho Norfolk A Western Ry. Co.
Waverly, Ohio. Tho bridge is now under construction and will have a
total length of 3,435 ft. Tho Chesapeake A Ohio Ry. Co. agrees to acquire
for cash at par $3,000,000 o f tho capital stock and such additional stock as
may bo necessary to complete tho bridge across tho Ohio River and con­
struct the road to Waverly, tho total estimated cost of which is $4,500,000.
Ihe 81,000,000 bonds (V. 101, p. 1884) aro secured by a first and closed
mortgage upon tho entiro property. They aro guar., p. & 1.. by tho C . A O.
R y., which seo above. Total stock auth., $3,500,000.— (V. 101, p. 1884.)
C H ES AP EAK E & OHIO RY. OF I N DI A NA . — Owns Cincinnati, Ohio, to
Indlana-llllnois State line, 260.7 miles; trackage rights, 23.7 m.; total oper ,
284.4 miles. See C . A O. R y. above.— (V. 99, p. 47; V. 101, p. 1885.)
C H E S A P E A K E W E S T E R N R Y . — See issu e o f F e b . 1916.
. CHESTERFIELD & LANCASTER R R .— Owns Cheraw. S. C.. to Page-

land and Crowburk, 38 m. Bonds (limited to $750,000) Issuable at $5,000
per nille. V. 81, p. 1790. There were outstanding June 30 1913 $67,000
2d 6s due Jan. i7 1918. Stock, $500,000. a majority being acquired In
June 1909 by the Seaboard Air Line Ry., par, $25. For year ending June
30 1915, gross. $44,660; op. def., $3,925; charges, $18,482; bal., def., $ 2 2 ­
407. Pres., W. J. Harahan; Treas., R . L . Nutt.— (V. 89. p. 40.)
CHESTNUT HI LL R R . — Owns from Germantown to Chestnut Hill, Pa.,
4 m.; being double-tracked May 1902. Re-leased In 1896 to Phlla. A Read,
Ry., the rental being reduced from 12% to 6% on stock, the latter being In­
creased In June 1902 from $120,650 to $195.650.— (V. 75. p. 76.)
CHICAGO & ALTON R R .— (See Map Toledo St. Louis & Western.) —
ROAD.— Chicago to St. Louis, Kansas City, Ac., In all 998 miles.
Road owned—
Miles.
Road owned—
Miles.
Chicago to East St. Louis, 111____ 280 Mexico, Mo., to Cedar City, M o .. 50
Sherman, 111., to Grove, 111_______ 51 Roodhouse, 111., to Kan. C., M o ..251
Barnett to Titus_________________ 56 Bloomington to Waun, via Jack­
Coal City Line, III_____________ 27
sonville, Godfrey and Upper
Dwight, 111., to Washington and
Alton (all In Illinois)__________ 15 s
Lacon, 111____________________ 81 Trackage to Peoria, 111., Ao_____ 37
lies to Murrayville, 111........
34 Leases Rutland TolucaA North. 27
Total owned and operated July 1 1915 (197 m. double tracked)___ 1,052
Also operates. Jointly with Clev. Cln. Ch. A St. L.. from Wann to East
St. Louis, 18 m ..and, with Atch. T .A S. Fe, from Joliet to Pequot, 20 m.
The stock of the Peoria Ry. Terminal Co. Is owned by the Chicago A Alton
and Ohio. R. I. A Pao. R y., which guarantee the flrst mtge. bonds ($1,500,­
000 auth. Issue) and 1st & ref. M . bonds. V. 81. p. 1099; V. 83. p.752.
1171, 1291; V. 84, p. 451; V. 85, p. 159. Ch. It. I. & Pac. receivers have
discontinued payment o f that company’s share o f tho guarantee.




00

Total earnings.......... $39,464,037 $37,459,864 $36,690,021 $35,085,278
Operating expenses----- 27.556,414 26.413,898 25,653,937 24,451.560

The Rutland Toluca A Northern RR. Is leased for 999 years and Its bonds
guaranteed prln. and lnt. V. 91, p. 1024; V. 93, p. 408.
ORGANIZATION.— The (old) railway company was organized In April
1900 and purchased substantially all the stock of the Chlo. A Alton Railroad.
The two were consolidated In 1906 per plan V. 82, p. 451, the Railway
changing Its name to the C. A A .Railroad. V .82. p. 160: V .70 , p .686.995.
STOCK.— The cumulative 4% participating and prior Hen stock Is enti­
tled, In addition to prior right to accumulative dividends at the rate of 4 %
per annum, to receive additional dividends equal to the rate of dividends
declared on the common stock of the consolidated company. In Aug. 1907
tho Toledo St. Louis A Western purchased from the Rock Island the cod trolling Interest, viz., $14,420,000 com. and $6,480,000 pref. stock, and
deposited the samo under Its collateral trust bonds,on winch Interest was
defaulted Aug. 1 1914. V. 88 , p. 468, 529,792; V. 99, p. 341, 408, 1051.1216
Union Pac. owns $10,343,100 pref. stk. V. 84, p. 1484; V. 95, p. 361.
D IVIDEN DS.—
'06. ’07.
’09. ’ 10 . ’ l l . T2.
Since.
Common s to ck _______________
1
4
2
None
Nono
Preferred stock_______________ 2
4
4
4
4
2 Nono
Nono
Prior lien participating p r e f__ 2
4
5
8
6 4
None
2
BONDS.— First lien (old Ry.) 3Vis of 1900. V. 71, p. 1021: V. 82, p.451.
The Railroad (old) mtge. securing the 3s of 1899 will provide funds for Im­
provements and extensions. Bonds In excess of $40,000,000 were to be
Issuable thereunder on vote of two-thirds of stockholders for extensions of
not over 500 miles main track, at not exceeding $20,000 per mile, to fund
leased line rental obligations and for future betterments not to exceed
$5,000,000, at not over $1,000,000 per annum, from Jan. 1 1900. V. 69,
p. 178. V. 69, p. 26, 129, 541; V. 70. p. 429. 739, 995: V. 79, p. 211. 967;
V. 84. p. 480, 507. 626, 803, 809: V. 88. p. 99, 293.
Of the Issue of $20,000,000 of 6% gen. M . gold bonds. $16,834,000 were
outstanding June 30 1915, $8,417,000 being owned by the Union Pacific
Railroad. Of the bonds, $4,100,000 were reserved to retire $3,766,500
equip, trust obligations and $1,425,000 to refund $1,284,000 debentures
duo Juno 1 1922. Bonds are redeemable on any interest day at 105.
V. 94, p. 1565, 1695; V. 95, p. 749; V. 96, p. 789; V. 98, p. 838, 1315.
RESULTS.— 10 m o s .,/1915-16______Gross, $13,484,663: net,$3,356,840
July 1 to Apr. 30.
11914-15______Gross. 11.894,768; net, 2,041,951
Net for 10mos. ended April 1916, after allowing for miscellaneous charges
to incomo, $2,829,388, against $1,449,058.
R EPO RT.— For year ending June 30 1915 was in V. 101. p. 1364.
1914-15.
1913-14.
1912-13.
Gross earnings...................................... .$14,245,624 $14,159,479 $15,254,864
Operating expenses............................... 11,072,707
12,307,744 12,840,072
©

Interest paid semi-annually as indicated by maturity dato: " J ,” “ L ”
and “ M ” at Blair & Co.; “ K ” at Guar. Trust Co.; “ N ” and “ O” at Commer­
cial Trust Co., Philadelphia.
FINANCES.— The $40,180,000 convertible 30-year 5s offered to share­
holders in March 1916 after having been underwritten by a syndicate
headed by Kuhn, Loob & Co. and Nat. City Co. o f N. Y ., provided for tho
retirement on Juno 1 1916 o f tho $33,000,000 5% secured notos of 1914
(thereby doing away with burdonsomo requirements) and for other financial
purposes; seo above and V. 102, p. 1164.
Tho company in March 1916 decided (seo V. 102, p. 1162, 1810) that it
would appropriate out o f its net incomo during the three years beginning
May 1 1916 an aggregate sum of not less than $7,500,000 for additions and
betterments and for capital expenditures or reduction o f capital liabilities,
including during tho three years mentioned equipment obligations already
incurred aggregating about $5,000,090. These appropriations will be duly
set up on tho balance sheet and used as an offset to the difference between
the price at which its convertible secured gold bonds are converted and tho
par amount o f any stock issued at less than par therefor.
EARN IN G S.— For 10 months ending April 30
10 M os.— Gross.
Net.
Other Inc.
Charges.
Dal., Surp.
$91,830 $7,987,784 $5,434,431
1915-16----- $39,773,420 $13,330,385
1914-15------ 32,304,776
9,626,744 326,229
7,875,311
2,077.662
ANNUAL REPORT .-Fiscal year onds June 30. _____________
_ is held
Annual meeting
at Richmond on the Tuesday preceding the last Tuesday in October. Re
port for 1914-15 was given at length in V. 101, p. 1086. 1101; edit., p. 10503
-New Basis-Old BasisYear ending June 30- 1914-15.
1913-14.
1913-14.
1912-13.
Average miles operated.
2,369
2,346
2,346
2,319
Passenger earnings_____$5,696,088
$6,098,059 $6,098,059 $5,858,138
F reig h t........................... 31,288,537 28,866.516 28.866.516 27,549,696
Express, mail, A c______ 2,479,412
2,495.289
1.725,446
1,677,444

Not earnings........................................$3,172,917
Net incom o......................... ............... $3,270,154
Hire of equipment, rental, &c______
799,299
Taxes, A c..............................................
512,333
Interest on bonds, A c.......................... 3,275,338
Dividends on guaranteed stocks_____
250,024
Discounts on securities written off__
123,316

$1,951,735 $2,414,792
$2,047,045 $2,423,855
761,179
677,600
568,938
486,761
3,114,189 2,773,735
250,024
250,024
115,005
119,025

Balance, deficit....................................$1,690,156 $2,762,290 $1,883,290
Comparative figures in 1912-13 are somewhat inaccurato.
DIRECTO RS.— Pres., W. G. Biord; Chairman Executive Committee!
R. 8. Lovett; V.-P. & Treas., F. II. Davis: Sec., James Steuart MacKlo
J. J. Mitchell, Joy Morton, Wm. G. Beale, Samuel Insull, Roborts Walker,
LouisO. Krauthoff and Julius Kruttschnltt.— (V. 101. p. 212, 1188, 1364.)
CHICAGO BURLINGTON A OUINCY RR.— ( S e e M a p .)— ROAD.— Op­
erates a great system of roads extending from Chicago westerly, reaching St.
Paul and Minneapolis. Minn.; St. Louis and Kansas City, Mo.: Omaha. Neb.;
Denver, Col.; Cheyenne, Wyo.; Black Hilts, S. D., and Billings, Mont. The
accompanying map shows clearly the system, viz. (In miles);
Lines oast of Missouri River__ 4,405ILines leased__________________ 357
Lines west of Missouri River
4.603lTotal oper. June 30 1915______9,365
In Deo. 1908 $23,657,500 of the $31,000,000 Colorado A Southern com.
stock (pi.ictlcally a controlling Interest) was acquired, affording connec­
tions with the Gulf of Mexico. V. 87, p. 1663: V. 88, 6. 157, 685.
During 1914-15 tho lino extending southerly from Laurel, M ont., waa
completed to Orln Junction, W yo., and the connection betwoon Guernsoy
and Wendover was to be ready for operation by Dec. 1 1915, completing a
lino from Northport, Nob., to Billings, M ont., 532 miles, expected soon to
bo an important lino In that territory, as well as being a part of tho plan
for a low-grade lino from Missouri River to Billings.— (V. 101. p. 1558.)
Will own jointly with the Nashville Chattanooga A St. Louis tho Paducah
A Illinois RR.. which is building a double-track brldgo over tho Ohio River
at Metropolis, 111., and is building from Metropolis to Paducah, K y., 12 m ..
and will jointly guar. $7,000,000 bonds. V. 99. p. 341; V. 100. p. 1751.
ORGANIZATION, A c.—A consolidation In July 1875; since merged
Jhleago Burlington A Northern, Kansas City St. Joseph A Council Bluffs,
Hannibal A St. Joseph, Burlington A Missouri, Ac., Ao.
In 1901 $107,613,500 of the $110,839,100 stock was exchanged for the
Joint 20-year 4% bonds of the Gt. Northern and Northern Pacific, secured
by the deposit of the stock In trust, on the basis of $200 In bonds for $100
stock. Seo V. 72. p. 871; V. 73. p. 293. and bonds under Groat Northern.
oiV S . 1 ’98. ’99 to S ep t.’01. ’02 to Ju ly ’07. Got. 07.
’08 to Ju n o’ 16
Per cent; 5H
6 yearly.
7 yearly.
8
8 y’ly (quar)
BONDS.—Genera) mortgage bonds ($300,000,000 auth. Issue, Interest not
to exceed 5%)are a first lien on about 3,328 miles of road, and on retirement
of the outstanding underlying bonds, for which bonds are reserved as below
aoted, will be a first lien on the entire mileage owned, aggregating 8.491
miles.
he generals have been Issued or are Issuable as follows (see V.
86. p. 13 2. 1466: V. 88. p. 504. 685: V. 92. p. 525: V. 96. p. 789.
I’o retire outstanding bonds find. $17,428,300 in sink, fds.)..$177,000,000
Issuable for reimbursing the treasury for outlays already made
by It for betterments and additions ($22,000,000 sold)___
45.000.000
tssuable for additions, Improvements and betterments of and
to the mortgaged property (of which $13,724,000 sold)____ 78,000,000

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30

[Vol. 102

RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES

(Fi/r abbreviations, Ac., see notes on first pave)
Cnicazo Burlington tk Quincy— Stock---------------------Geu mtge 5300,000.000 lawful money__ Ce.zo*Ar*
Illinois Div first mortgage! $85,000,000 ourreaoy .
(V. 83, p 625: V. 69. p. 283)/ redeem at 105--NBz
Sinking fund Iowa Dlv 5s (ooll trust) drawn at 105 z
Sinking fund Iowa dlv. 4s drawn at 100______zoAr
Sinking fund 4s (So W Dlv) drawn at 100___ zo*Ar
Denver extea (coll tr) bonds s f drawn at lOO.NBzo*
Nebraska ext *20,000 p m (s f not drawn) -N B .zo'A r
B A Mo RR In Nebl Land gr s f drawn 100__ NBa
aCons M *14,000,000/
do
drawn since 1908. .z
Nod A Tar Val RRs 1st mtgs « f (drawn at par) .xo
Rep Val 1st M guar (red at par) s f *14,000 y rly .-zo
C hic. & E 111—Pref stk 6% non-cum (*15,000.000)...
Danville A Grape Creek R R — 1st M assumed__ zo*
First mortgage extension_____________________ xo*
Consolidated mortgage (for *5,948.000) gold.Ce.zo*
General consol and 1st M *30,000,000__ Cc.zo'A r
Ch A Ind Coal R y— 1st M *25,000 p m ass’d-Mp.zo*
Evansville Terre Haute <5; Chicago Income mortgage
Receivers’ certs$6.000.000, extended In 1916______
do
do
$200,000 Eq Series “ A ” __________
Refund & Imp M (text) g red at 10214 .-Ba.xo*Ar*
Pur money 1st lien Coal fads *7,O0O,OO<) g-C e.xc’ A*
Evansv & T H 1st consolidated M gold_____F.xo*
Mount Vernon Branch mortgage gold____ F.xo*
Sullivan Co Coal Branch mortgage gold__ F.xo*
First general mtge for *7,000.000 g old.-.F .xo*
Refunding mortgage $1,284,000 red par__ .Nx
Evansville A Ind 1st M gold guar_________ F.xo
Cons M (*2,500,000) g gu p&l (end) E&TH F.xo
Evansville Belt Ry first mortgage gold__________ x
C&E l Eq bds Ser E duo $125,000 s-a ext red p a r..
C & E I Eq bonds Ser F $220,000 s-a ext__ _____ Bax
do Scries G due $124,000 s-a o x t ________ Rax
do Series H due $166,000 or$165,000saext.x

Miles Date
Road Bonds

Par
Value

Amount
Outstanding

Rate
%

When
Payable

5100 $110839100 8 lu 1915 O ~M
M A
4
8.491 1908 1 000 Ac 65.247.000
l.OOOAo 50,451,000
11.647 /1899
3H J A
11899 1.000 Ac 33.976,000
J A
1
/
1.000 1.933,000
A A
891 1879
6
1,000 5,047,000
1
A A
891 1879
1,000
254,000
4
M A
1881
1,164,001)
F A
100 Ac
370 1881
4
1,471 1887 1,000 Ac 21,222,000
M &
4
600 Ac
T A
1 . . . J1S73
1,180,200
600 Ac
J A
11878
/
1 6
59 1880
1.000
24.000
7
J A
600 Ao
74.600
J A
90 1879
6
100 12.192.100
1.000
M A
9 1880
97,000
6
1,000
J A
14 1881
91,000
6
191 1884
1,000 2.736,000
6g A A
M A
817 1887 1,000 Ao 21,343.000
5
1,000 4.626,000
5
J A
176 1885
1,000
1881
1150,000
M A
6
J &
1914 1.000 Ac
6.000,000
6
,J &
1915
200,000
5 /4
817 1905 1,000 Ao 18,019.000
^K J A
5,107,000
1912 1,000 Ac
5g
1,000 3.000.000
144 1881
A
6g j
1,000
375,000
6 g A A
25 1883
1,000
450,000
5g A A
1890
1,000 3.175,000
5g A A
199 1892
50 Ac
r A
Kill
1,284.000
5
54 1884
1,000
647,000
6g j
A
134 1886
1,000
1,853.000
6g j
A
1,000
142,000
4 1910
5g M A
1,000
1905
250.000
5H g F A
1,000
1906
660,000 • 5/4 g F A
1,000
744,000
A A
1907
5J4
1,000
2,648,000
M &
1912
5 /4

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

25 June26 1916 2% N Y, Boston & Chicago
S Mch 1 1958
Now York and Boston
do
do
J July 1 1949
do
do
.1 July 1 1949
do
do
O Oct l 1919
do
do
0 Oot 1 1919
do
s Sept l 1921
do
do
do
A Feb 1 1922
do
do
N May 1 1927
do
do
J July 1 1918
do
J July 1 1918
do
Boston
D June 1 1920
New York and Boston
J July 1 1919
Apr 1 1913 1 H
N May 1 1920
May 1915 coup not paid
I) Deo 1 1931
June 1916 coup not paid
April 1915 coup not paid
O Oct 1 1934
N Nov 1 1937
May 1915 coup not paid
.1 Jan 1 1936
July 1914 coup not paid
May 1915 coup not paid
N May 1 1920
.1 July 1 1917
Equitablo Trust Go, N Y
J July 1 1917
Farm L & T Go, N Y
July 1914 coup not paid
J July 1 1955
Feb 1915 coup not paid
Feb 1 1942
July 1915 coup not paid
J July l 1921
April 1915 coup not paid
O Apr 1 1923
April 1915 coup not paid
O Apr 1 1930
April 1915 coup not paid
<) Apr 1 1942
July 1915 coup not paid
.1 July 1 1941
J July 1 1924
July 1914 coup not paid
do
do
J Jan 1 1926
May 1915 coup not paid
N Nov 1 1940
A Feb ’ 18-Aug ’ 18 See text
A Feb '18-Feb ’ 19 See text
O Apr ’ 18-Oct ’20 See text
S M ar’ 18-Sept ’25 See text

In Jan. 1909 $20,000,000 general 4s were sold, of which *13,724.000 were
Separate Committee for Gen. Consol. A 1st M . 5s.— Henry Evans (Chair­
used to purchase $23,657,000 Golorado ft Southorn common stock. In Feb. man), A. F. Ilalstod, Soc., 62 Cedar St., N. Y . Guaranty Trust C o.,
1911. $8,000,000, In March 1913 $5,000,000. In 1914 $5,000,000. V. 88 . depositary. V. 101. p. 447. 129, 1972.
p. 685; V. 92, p. 525: V. 96, p. 789: V. 98. p. 999, 1315. In July 1915
Committee for St. L. & S. F. Trust Certifs. for Com. and Pref. Stocks and
application was mado to Issue $15,850,000 gen. M . 4s. V. 101, p. 47.
C. A E. I . Pref. Stock.— Alvin W. ICrech (Chairman), Richard R. Hunter,
The Iowa Division bonds are a first mtge. on the main line In Iowa from Sec.; Equitable Trust C o., depositary. In 1914 certifs. and stock represen­
Burlington to East Plattsmouth, on the Missouri River, 270 miles, and on ting over 95% of com.and 90% of prof.stock had boon deposited or was con­
621 miles of branches and 86 miles of second track. These bonds have a trolled. V. 96, p. 1628, 1700; V. 97, p. 175, 1425. Soo "ST O C K ” below.
■Inking fund o f 1 /4% ($203,800) yearly, tor which the 4s are subject to call
Committee for Chic. A Ind. Coal Is! 5s.— James B. Mabon (Chairman),
at 100 and the 5s at 105. The single main line and branches covered "shall
not exceed In the aggregate 900 miles,” at $16,000 per mile: on seoond track Charles E. Sigler, Sec.; Central Trust C o., N. Y .. depositary. V. 98, p.
1992. Over 90% of bonds deposited. V. 99. p. 195. 269, 1299, 1596:
additional *14,000 per mile. V. 65. p. 462.
The Nebraska Extension bonds of 1887 are Issued at *20,000 per mile for V. 100, p. 228; V. 101, p. 845. Tho receiver In Jan. 1916 asked permission
■ingle and $10,000 per mile for second track on not exceeding 1,500 miles. to discard the Oh. A Ind. Coal Ry. V. 102, p. 344.
Now a direct first lien. Abstract of deed, V. 45, p. 441: V. 85. p. 721.
Committee for Evansv. A Ind. Bonds.— Fredk. II. Shipman (Chairman),
Burlington A Missouri RR. in Nebraska consol, mtge. of 1878 Is now a Edwin Gibbs, Sec.; Farmers’ Loan & Trust Go., N. Y ., depositary. Largo
1st M. or 1st coll, lien: bonds subjeot to call for the sink, fund at par.
majority deposited. V. 99, p. 119, 341; V. 100, p. 473.
E A R N IN G S — 10 mos., f 1915-18-Gross, $85,478,863; net, $34,894,802
Committee for Purchase Money Coal Bonds.— George O. Van Tuyl Jr.
July 1 to April 30.
\l914-15-Gross, 76,907,228; net, 26,858,916 (Chairman), James F. McNamara, Sec.; Metropolitan Trust C o., N. Y ..
ANNUAL REPO RT.— Fiscal yoar ends June 30. Report for 1914-15 depositary. Tho committee advanced tho amount of tho Feb. 1915
coupons. More than 75% deposited. V. 100, p. 307, 641.
was In V.101, p. 1546, 1557, showing results:
1914-15.
1913-14.
1912-13.
Committee for Evansville A T. II. 1st Gen. 5s.— Frederick J. Lisman (Chair­
Average miles______________________
9,339
9,140
9,110 man); Secretary, Graham Adams, 30 Broad St.: Farmors’ Loan & Tr. C o.,
Freight..........................
$62,509,484 $62,799,188 $64,073,856 depositary. Majority deposited. V. 100. p. 1256. 1437, 1609; V. 101,p.47.
Passenger____________
20,185,564 21,743,507 21,895.691
STOCK.— Common stock outstanding was $7,217,800 ($15,000 per mile):
Mail and miscellaneous_____________ 8,430,013
9,144,446 8,414,939 pref., $12,192,100. In addition, $6,408,300 com. was held In trust by
Equitablo
Co. In July 1914 as a part of “ trust assets” under agreement
Gross earnings___________________ $91,125,061 $93,687,141 $94,374,486 dated JulyTrust
1 1905, for Improvements, acquisitions or refunding. V. 85, p.
Operating Income after taxes_______ $26,578,028 $26,445,631 $27,840,545
1001;
V.
92,
p.
1374. 1435; V. 93. p. 229, 588, 1393.
Other ineomo......................................... 1,224,070
1,294,358
1,959,930
Tho reorganization plan which was adopted in April 1916 for tho St. Louis
San Francisco Rlt. (seo below and V. 102, p. 897) provides that; (1) tho
Total in com e.-............ ...................$27,802,098 $27,739,989 $29,800,475 &
L. & S. Fr. RR. Trust ctfs., issued for prof, and com. stock of Chic, ft
Interest, sinking fund, & c_ ................. $10,513,186 $10,625,582 $10,369,728 St.
East. 111. RR ., $12,153,750 and $16,944,500, respectively, shall bo surren­
Betterments.................
3,340,669
5,715,875 7,647,743 dered
to tho terms thereof in exchange for tho stock o f tho Chic, ft
Dividends on stock (8 % ) . .................... 8,867,128
8,867,128 8,867,128 East. pursuant
111. RR. C o., represented by tho samo; (2) tho reorganization mana­
gers shall dolivcr (a) in respect of pref. trust ctfs. so surrendered for each
Balance, surplus...............................$5,081,115 $2,531,404 $2,915,875
prof, share represented by tho surrendered trust ctfs., $18 in 6% prof, stock
Comparisons with 1912-13 figures are somewhat inaccurate.
v. t. c., and $2 50 com. stock v. t. c.; (6) in respect of com. trust ctfs.
DIRECTORS.— Halo Holden (Pres.), Geo. B. Harris. Chester M . so surrondcrod at tho rato for each com. share ropresontod thoroby of $30 In
Dawes, William V. Kelley, Frederick H. Rawson and Samuel C. Scotten. G% prof, stock v. t. c. and $4 25 com. v. t. c.
Chicago, 111.; Louis W. mil, Jules M . nannaford, Richard A. Jackson,
BONDS, ETC.— General consol, and first mtge. of 1887 (trustee, Contral
St. Paul, Minn.; Charles E. Perkins, Burlington, la.; W. P. Clough. N Y , Trust
Co. (Issue limited to $30,000,000), seo V. 64, p. 1088; V. 78, p.
— (V. 101, p. 47, 369, 613, 693, 1546, 1557, 2070: V. 102, p. 436, 1810.)
1446; V. 79, p. 1331: V. 80, p. 1728; V. 84, p. 1550; V. 96, p. 284.
CHICAGO & EASTERN ILLINOIS R R .— Operates road (double track)
Soo Refund, and Impt. gold 4s of 1905. V. 80, p. 1424; V. 81, p. 1436:
to Danville Jet., 106 m.) from Chicago, 111., to Evansville, Ind., and bitumi­ V. 88, p. 451; V. 90. p. 558; V. 92. p. 117; V. 93, p. 588; V. 94. p. 487.
nous ooal fields; also to St. Louis, M o., and Thebes to Joppa, 111.
As to First Lien Coal bonds ($7,000,000 auth. issno), soe Committee
Lines Owned in Fee—
Miles. Evansville to Terre Haute______ 109 abovoand V. 94, p. 629: V. 95, p. 1039, 1122, 1393; V. 100, p. 307.
The recoiver, under authority of (J. S. District Court, on Juno 25 1915
Dolton to Danville, III__________107 Branches to Mt. Vernon, A c___ 50
Danville, 111., to Brazil, Ind___ 61 Evansville Belt_________________ 5 oxtonded for 3 yoars the timo of payment of tho principal of tho respective
Momenoo Jot,, 111., to Brazil, Ind.130 Other__________________________ 2 maturities of Series E, F, G and H of O. & E. I. equip, certs., with int. at
5 /4 % ; also retirod with his 5/4 % certificates duo July 1 1917 tho $200,000
Danville Jet., 111., to Thebes, 111.277
Other Trackage, A c .—
equipt. trusts of tho Ev. & T. II. Seo V. 101, p. 129, 288, 369.
Joppa Jet. to Joppa, 111________ 16 Pana, 111., to East St. Louis____85
Clssna Jot. to Clssna Park. Ill__ 11 Chicago to Dolton. Oh. & W. Ind- 17
EARNINGS.— 10 m os.,( 1915-16...G ross, $14,080,199; not, $3,341,765
Roesville Jot. to Sldell Jot., 111-. 34 Otter Creek Jot. to Terre H aute.. 4
July 1 to April 30.
\1914-15__ Gross, 12,071,933; not, 2,600,221
Percy Jot. to La Crosse, Ind___ 46 Other lines_____________________ 46
Milford Jot.. III., to Freeland. Ind 11
REPO RT.— For 1914-15 was in V. 101. p. 1623.
T ota l.........................................1,282
Coal Bluff. Ind., to Casey, I n d .. 7
Years ending June 30—
1914-15.
1913-14.
1912-13.
Woodland, 111., to Villa Grovo__ 62 2d track_______________ _____ 335 Operating rovonue...............................$14,210,602 $15,633,625 $16,214,972
Findley. 111., to Pana___________ 20
Operated by its own Receiver from Operating ineomo (aftor taxes)______ 1,967,224 1,916,636
2,718,460
Branohes to Coal Mines_________ 15
March 1 1916—
Not (including other income)_______ 2,5.50,591 3,035,966
3,803,448
Rossvllle Jot. to Judyvlllo, Ind._ 14 Ev. A Ind. RR.. Evansv. to Terre
Interest and rontals________________ 4,395,088 4,561,858
4,252,814
Hunt’s Extension_______________ 7
Haute via Worthington, A c ..146 Dividend on preferred stock---------------------------- (4/4)492,567
Also leases to other companies Rockville extension, 17 miles.
Balance, doficit______________ _____
1,844,497 1,525,892
941,933
Comparisons with 1912-13 figures aro somowhat inaccurate.
HISTORY. AO.— In 1902 the St. Louis & San Francisco (now in receiv­
ers’ hands) acquired the groater part of tho stock. The reorganization plan
OFFICERS.— Pres., W. J. Jackson, Chicago; V.-P., Alvin W. Kroch,
presented for that company in Fob. 1916 (V. 102, p. 896) would relinquish N. Y.; Soc. ft Aud., II. J. Cronin, Chicago; Treas., J. P. Reoves, Chicago.
all interest in tho Chic. & East. 111. Owns $1,000,000 stock Chic. & W. Ind. — (V. 102, p. 344, 608, 885, 1C59, 2253.)
On May 27 1913 receivers woro appointed, thero being a floating debt of
CHICAGO & ERIE RR.— (See Map Erie R R .)— Owns from Marlon, O..
about $5,000,000; W. J. Jackson of Chicago is now receiver. On Nov. 25
1914 Francis S. Peabody of Hinsdale, 111., Jackson IC. Dering of Lake Villa. to Hammond, Ind., 249 miles, and leases trackage over Chicago A West Ind.
III., and Jaboz Wooloy of Evansvillo, Ind., woro appointed receivers for 1 1 to Chicago, 20 miles. Erie R R . Co. owns entire *100,000 stock.
coal mines, and in March 1916 Theo. C. Keller was mado receiver of Chic, ft
BONDS.— The first mortgage (trustees, Central Trust Co. and Edward
E. 111. coal properties. V. 102. p. 1059; V. 99, p. 1596, 1748. Receiver
was appointed for tho Evansville & Indianapolis RR. on Fob. 5 1916, and Daniels) covers 249 miles of road, the contract with the Chicago A Western
in M ay 1916 ho began operating tho road separately. V. 102. p. 2077. Indiana, *1,000,000 of that company’s stock and *240,000 stock of Chicago
Suits for foreclosure of this company’s two mortgages have been filed. V. Belt R y. See abstracts. V. 51, p. 911; V. 61. p. 750.
102 . p. 608.
EARNINGS.— 10 mos., f 1915-16___ Grass, $6,390,446; not, $2,227,212
Receivers' Certifcates.— Seo table above and V. 991 p. 47: V. 102, p. 2253.
July 1 to April 30.
\19l4-15___ Gross, 5,022,188; net, 1,148,410
Defaults.— In Juno 1916, under order of court, all Interest on equipment
For year ending June 30 1915, gross, $6,050,494; not, $1,557,656. In
securities had been paid promptly and thoir principal extended till 1918, 1913-14,
gross. $5,512,663; oper. clef., $332,252.— (V. 61, p. 559.)
but on all other bonds the intorest duo March 31 1915 and subsequently was
in default.
CHICAGO GREAT WESTERN RR.— Forms the "Corn Belt” route,
Tho Intorost duo July 1 1914 was defaulted on Refunding ft Improvement radiating from Oclwein. Iowa, northerly to St. Paul, easterly to Chicago
4s, Chic. & Ind. Coal 5s and Evansville & Ind. 1st 6s and 1st consol. 6s: and southerly and westerly to Kansas City and Omaha.
also the Feb. 1915 int. on tho Purch. Money 1st Hen Coal 5s. tho Apr. 1915 Lines owned (total, 767 miles). Miles.
Operated under agreement.
Miles.
coupons on the consol. 6s, M t. Vernon Branch 6s, Sullivan Co. Coal Branch Chicago to St, Paul_____________400 Mason CyA Ft.Dodge,383 m.,vlz.:
5s, and Evansvillo & T . II. 1st Gen. 5s. the M ay 1915 coup, on the Danville Oelweln to St. Joseph__________ 290
Oelweln, la., to Coun’l Bl’ fls. 260
& Grape Creek 6s, gen. consol, ft 1st M . 5s, Evansv. T . It. & Ch. Income Bee Creek to B ev erly ____________23
Hayfteld,M!nn.,to Clarlon.Ia. 100
bonds and the Juno 1915 coupons on tho 1st M . extension 6s. V. 98, p. Sumner to Waverly______________22 Branchos to Lehigh, A c_______
15
1919, 1992; V. 100, p. 307. In Nov. 1915 foreclosure suits wero ponding Mantorvlllo, Ac., branches_____- 22
Trackage—
undor “ Gonoral Consol. & 1st M .,” Ref. & Impt. M ., Chic, ft Ind. Coal M . Leavenworth to Kansas City_______ 1 Council Bluffs to So. Om aha..
8
and purchase money (coal M .o f 1912). V. 99, p. 119; V. 100, p. 228, 473,
Trackage (total. 78 miles) —
Wls.Mlnn.APao.RR .277 miles,
981. 1167, 1436; V. 101. p. 1627.
St. Paul to Minneapolis_________ 11
Mankato to Red Wing, Minn.
96
Committee for Ref. and Impt. and other Bonds, except Chic, ft Ind. Coal, Chicago Terminals_______________ 10
Red Wing to Osage, la _____ 118
Evansv. & Ind. and Purch. Money 1st M . Coal Bonds, also Equipment Galena Jet., 111., to Dubuque, la . 14
Winona to Simpson, Minn__
64
Obligations.— John VV. Platten (Chairman), Calvert Browor, Sec.; U. S. Des Moines Terminals__________ 3
Branch to Clay Banks, Minn.
3
Mtge. & Trust Co., depositary. Majority o f bonds deposited Including Leavenworth to Kansas City_____ 26
Goodhue to Belle Chester.__
6
over 65% of O. ft E. L Gon. Consol. & 1st 5s. V. 96, p. 1555: V. 98, p. St. Joseph. Mo., to Bee Creek__ 9
999; V. 99, p. 47; V. 100, p. 981, 1671, 2166; V. 101, p. 417, 1092, 1885.
Total mlleago June 191 G_ ___1,496
Other trackage___________________ 5




Eldon

iOkanagan

v
i
Princeton^

cp

Mr^A\N

Antelope^
MooseJair

Keefers

-S Whitewt

•unmdre

hclsou.

!Hawk Lake
ike of the
%Woods
^Sprague!

•ethbridge

Macleod

EstevaiT

JliUwap__V_^
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'Hannah

a^dWc^ea^

Brule'
lWoonga

Nipigon
Biota

c. Banning
SunHim

Minot'

cston

Stantonj

RAILW AY STOCKS AND BONDS

It.Vinceni

Lake
[Nipigon

.ake Superior Jc.

r 'eelock

jfi*. Darrington
Ljffr<7_
V^«a

ItibbmS/

Bcmidji

Caningtoi
Vaiae,^

Might.

SHORe
letroit City
A'tvmakagon

Kalama

Sunnyside a. J jf/wjfrl
Umatilla

F^OBTLANd\

Stltes
IGranger

'endletoii
\HeppnerHA \
La GrandeXJoseph,
Baker City r
(
'Shaniko
Tipton
J

Salem

Meadows

.hfield

Boise
.Lafce

U o n ^ H ^ f Red Lodge/
iGardiuer
/Yellowstone/
k [NATIONAL/ K
I t ! park 7
\
.Mackay
_ j
°Cody
Kirby,
SKetchum?
Dubois

Malheur(

linidok;
•Me<lfordJPama£A
"
Klamath Falls?
^Jacksonville
■Lakey#
Yreka

t8f e g ;

Lander

Andrews
Malad

McCloud ,Hansen
Madeline^
Winuemucca
Iron MCUntaln I
(ountuii
ta °S o Bella Vista
^ \J AmadeeV
x[Anderson
Watts'
.docks.
Tehama
Mass;„ /
)
^
ip

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RenJ
i\ Marysville
/ /Ft.ChurchiU AustIa
/ / o n City
/RoseTUle>^in^eI
Sacramentux
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SAN FRANCI

Umbn
Cobre/

Cambrians
'NewcastleNp

Powder Klvi
OB City^

'sCOTI

Alliance

Shafter

B<ulder Summt

Ruth'

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[Provo City
ASpringvilli

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Woodside*

Glenwood Sprin
d Cliff
Beai
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MontroseVd
Guunisoa

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f c j Chicago, Milwaukee & S t Paul Railway

bumh

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tLimon

Laplata

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Atchist

Colby ^Stockton,
Claremont

Soberly
Oakley

Salinib

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Cuchara Jo.

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32

RAILWAY STOCKS AND BONDS

RAILROAD COMPANIES
[For abbreviations, A c., see notes on first page]
Chicago & Erie— 1st M g int guar till prin patd_Ce.zo‘
income bonds for $10,000,000 5% non-cum____Nz
Chicago & Grand Trunk— See Grand Trunk West Ry

Miles Date
Road Bonds

Amount
Outstanding

Rate
%

249 1890
$1,000 $12,000,000
249 1890 1,000 Ac a tO,000,000
300,000
1888

5g
a
5g

Pref (princ & div) 4% cum red $50,000,000 authFirst mortgage gold $75,000,000------- . G.xo’ Ar*
757 1909
Minneapolis Terminal mortgage gold assumed___ z
1900
Chicago & Great Western— See Balt & O Chloago Ter RR
Chicago Hammond & Western— See Indiana Harbor Belt R R
1911
Chic Hats Term Transf— 1st M $ 1,000,000 gred 105 sfx
G.hicn<ro A 111 /Midland— 1st M 83.000.000 gold
x
26 1913
1907
Chicago & III W— Gen(new lst)M g gu red par.CC.xo*
Chicago & Indiana Coal—See Chicago & Eastern 111
C hic Ind & So— See New York Central R Ii.
__
Chicago Indianapolis & Louisville— Common S to ck ..
Preferred 4% non-cumulatlve $5,000,000 _____
509 1897
Refunding (now 1st) M ($4,700,000 aro 6s) — Cex
509 1910
do $15,000,000 gold)Series C ____________ _x
Gen M called, to be paid July 1’ 16 at 10())4,JPM&C
1914
Indiana Stone R R first mortgage guaranteed______
60 1906
Indlanap & Louisv 1st M closed gold gu__ -G.xo*
First & Gon M $10,000,000 gold Ser A_.yg.e*&r*
512 1916
1911
Monon Coal Co 1st M g Int gu s f red 110__ Baxc*
Equip bonds Ser A g due part semi-annually_____x
1911
1911
do
do Ser B due $37,000 or $38,000 s-a . _x
do
do Ser C due $50,000 s - a . _ ____Ba.xc
1913
Chicago Indianapolis & St Louis Short Line— See Cle veland Clncln
Chicago Junction RR— 1st M $2,327,000 g red 105-xc*
1905
Chicago Kalamazoo & Saginaw— 1st M $2,000,OOOgGx
55 1909
1909
Chicago Lake Shore & East— 1st M g gu red text.-xo*
Chic Mem & G u lf— 1st M g red 105— Ba.xc*&r
52 1910
1911

Par
Value

When
Payable

1,000
100
100
1,000
1.000
1,000 &c
t ,000
1.000
500 &c
1,000
1.000
1,000
1.000
natl Chic
1.000
1,000 Ac
1.000
1.000

562,500
2,500,000
820,000

8g
5g
6g

Last Dividend Places Where Interest and
Dividends are Payabt*
and Maturity

M & N May 1 1982
Oct 1 1982
& J July 1 1918

J

100 45,210,513
100 43,867,902 Sec text
$, £ A fr 25,383,000
4g M &
1,000
500,000
3)4 g J A
100 Ac

[Vol . 102

J

J
J

&
&

Erie Railroad, New York
Erie Railroad, New York

M ay 1 19161% J P Morgan & Co, N Y
do
do
S Sept 1 1959
Bank of Montreal, N Y
J Jan 1 1950
J Jan 1 1931
D Dec 1 1938
J July 1 1947

J & D Juno 29 ’ 16 3M
10,500,000
5.000,000 4 In 1915 J Sc D June 29 ’ 16 2%
9.700,000 5 & 6 g J & J July 1 1947
5.300.000
4 g J & J July 1 1947
1,650,000
5 g J Sc J July 1 1916
In treasury
5 g M & S Sept 1 1948
b 1,172,000
4 g J & J Jaa 1 1956
i\l & N May l 1966
3,250,000
5g
2,875,000
5 g J & 1) June 1 1936
215,000
4H g M & S To Mch 15 1921
413,000
4 X A AQ15 To Oct 15 1921
F & A To Aug 1 1923
750,000
‘IX
ago A St Lo uls
2,327,000
M A S Mch 11945
4g
1,268,000
4 g J & .1 July 1 1959
9.000.000
4)4 g J A D June 1 1969
735,000
5 g J A J Jan 1 1940
5
To July 1 1921
36.000

Northern Trust Co, Chic
ConAComTr ASavBk, Cb
J P Morgan & Coe N Y
do
do
do
do
do
do
Bankers Trust Co, N Y
New York
Guaranty Trust Co, N Y
N Y Guaranty Trust Co
New York
Equitable Trust Co, NY
Bankers Trust Co, N Y
do
do
Harris Forbes A Co Chic
Guaranty Trust Co, N Y
71 Broadway. New York
Bankers Trust Co, N Y

a M ostly owned by Erlo RR Co
b Additional $478,000 pledged under First & Gon. M . of 1916.

BONDS.— Refunding mortgage (closed $15,000,000) covers road, equip­
CH ICAGO GREAT WESTERN (Concluded)—
Effective Feb. 1 1916, resumed possession of line from Randolph to Man­ ment. &c. ($1,000,000 stock of Ch. & W. Ind. and $240,000 stock of tho
Belt
Ry. of Chicago). V. 90. p. 1613; V. 91. p. 518, 1095; V. 92, p. 103P
kato, M inn., 69 miles, which was leased to Minneapolis St. Paul Rochester
1700; V. 93. p. 44; V. 94, p. 1118.
& Dubuque Elec. Trac. Co. V. 102, p. 608; V. 99, p. 195.
First & Gen. M . of 1916 is limited to $10,000,000; $3,250,000 was sold
The entire capital stocks of the Mason City & Fort Dodge R R . Co. and
the Wisconsin Minnesota & Paclflo R R . Co. are owned and their roads oper­ in M ay 1916 (V. 102, p. 1810); remainder held as follows:
ated under agreement. See those companies. In 1910 acquired entire Purposes for which $40,000,000 First A Gen. M . Bonds o f 1916 are Issuable.
stock of Leavenworth (Kan.) Term. Ry. & Bridge Co V. 91. p. 214. 397. $3,250,000 now sold and $1,280,000 taken into the treasury------$4,530,000
Holders of all except $21,000 of tho $6,232,000 Wisconsin Minnesota & Reserved—T o refund Ref. M . bonds due July 1 1947----------------15,000,000
T o exchango for outstanding ind. & Louisv. Ry 1st M . bonds 1,172,000
Pacific bonds accepted in exchango per $1,000 bond $500 each in C. G. W.
T o refund 60% of equipment; bonds (40% from incomo)------826,800
1st M . 4s and $500 in pref. stock. V. 97, p. 49, 523, 728, 1203, 1217;
For acquisitions, improvements. &c., under restrictions------- 18,471,200
V. 99, p. 673.
tho retirement July 1 1916 of all $1,650,000 Gon. Mtgo. 5-yoar
ORGANIZATION.— Incorporated In Illinois Aug. 20 1909 as successor, 5s Upon
(V. 102, p. 1718), these now bonds will have tho following lien:
per plan V. 88, p. 1497, of railway of same name acquired at judicial sale
(1) /l First Lien: (a) On tho Chicago & Wabash Valley Ry., 36 miles of
by J. P. Morgan & C o., reorganization managers, V. 89, p. 528, 592. country,
in tho first instanco, by pledge of all of its outstanding $500,000
STOCK.— The pref. stock ($50,000,000 auth. Issue) was entitled to bonds, and, presently by direct lien, (b) On tho Indiana Stone RR. (9.22
non-cum. diva, at 4% per ann. to June 30 1914 and to cum. dlvs. thereafter miles of main line) by pledge of all its $253,000 (closed) 1st M . bonds.
at that rate ahead of the com. stock,and also to a preference as to principal (c) On $478,000 of the $1,650,000 (closed) 1st M . bonds of Indianapolis &
and accrued dividends In case of dissolution or liquidation. Tho voting Louisville Ry. (owning 64.17 miles of valuable main lino into tho coal fiolds).
trust expired by limitation on Sept. 1 1914. V. 99, p. 406, 1450.
(d) On 500 shares (entire capital stock) of Terminal & Waroh. Co. of Louisv.
(2) A Direct Second Mortgage: (a) On all the linos of tho company (512
D IV ID E N D S.— Pref. stock. No. 1, Dec. 1 1915, 1% “ out of the surplus
for tho year onded Juno 30 1915” ; M ay 1, 1916, 1%. V. 102, p. 975, 1163. miies), subjoct only to tho closed Refunding Mtgo. (b) On the leasehold
in terminal facilities in Chicago, Louisville and Indianapolis and in
BONDS.— In Feb. 1915 was authorized to issue $2,748,000 1st 4s. interests
Kentucky & Indiana Bridgo. (c) On 10,000 shares of capital stock of
V. 89, p. 1482; V. 90. p. 53; V. 92. p. 1231; V. 100. p. 555. 1078.
I Chicago & Western Indiana RR. and 2,400 shares of capital stock of Belt
EARN INGS.— 10 raos. ending Apr. 30 1915:
R y. Co. of Chicago, (d) On all tho rolling stock and equipment, valued
Gross.
Net.
Charges.
Bal., Sur. at over $7,642,421, while equipment trust bonds outstanding amount to
1915-16.......................... $12,619,870 $3,591,974 $2,216,974 $1,375,000
only $1,378,000.
„
„ ,
Indianapolis & Louisvillo guaranteed bonds. V. 82, p. 508; V. 83, p.
1914-15 .......................... 11,651,023
2,883,488
2,190,215
693,273
1290; V. 102, p. 1810. Also guarantees int. on $2,875,000 Monon Coal
R E PO RT.— Report for year 1914-15 in V. 101, p. 1180, 1181.
s. f. 1st M . 5s duo Juno 1 1936, redeemable at 110 ($3,000,000 authorized
Years end. June 30—
1914-15.
1913-14.
1912-13.
1911-12.
Gross earnings.................$13,920,685 $14,349,738 $14,000,618 $12,795,242 issue). V. 93. p. 44, 697.
EARNINGS.— 10 mos.,J 1915—16__ Gross, $6,321,095; not, $2,107,623
Net (after taxes)...............$2,889,931 $2,927,340 $3,303,350 $2,380,529
July 1 to April 30. \1014-15-.-Gross, 5,434,023; net. 1,534,745
Other Incom e..................
246,218
146,140
118,475
126,570
ANNUAL REPO RT.— In V. 101, p. 1090, showed:
AUbell---- ------------------ $.3,136,149 $3,073,480 $3,421,825 $2,507,101
Year end. June 30—
1914-15.
1913-14.
1912-13.
1911-12.
$917,500
$917,500 Gross earnings_________ $6,559,665 $6,944,005 $6,985,944 $6,503,652
Int. on C. G. W. bonds. $1,032,660 $1,032,580
480,000
480,000 Not earnings..................... 1,562,633
Int. on M .C.&Ft.D.bds.
480,000
480,000
1.426.286
1,587,968
1,450,296
232,440
232,440
Int. on W . M .& P . bds.
232,181
206,543
264,601
199,523
546,846
693,551 Dividends, &c., received755,295
66-1.930
Other int.. rentals, &c_.
Total net Income.......... $1,794,814 $1,632,829 $1,852,569 $1,649,819
Balance, surplus_____
$868,194
$895,970 $1,245,039
$183,609 Interest on bonds.............. $935,198
$855,926
804.071
$732,300
OFFICERS.— Pres., S. M . Felton: V .-P ., Joseph W. Blabon; Sec. & Rentals, &c........................
619,843
631,106
510.137
508,359
Treas., J. F. Coykondall; Gen. And.. Con. F. Krebs. President’s office.
People’s Gas Bldg., Adams St. ana Michigan Boulevard, Chicago, 111.
T o ta l............................. $1,555,042 $1,487,032 $1,314,208 $1,240,659
DIRECTORS.— Samuel M . Felton, John A. Spoor, A . A . Spraguo 2d. Surplus for dividends____ $239,773
$145,798
$538,361
$409,160
Clyde M . Carr, Chas. II. Thorne and E. A. Cudahy, Chicago; Charlos Dividend c>n pref., 4 % . .
199.752
199,752
199,752
200,000
______ (154)170,568(3)4)341,136(3)4)341,250
Steelo, John R. Morron, New York; E. F. Swinnoy, Kansas City; John Dividend on common___
Washburn, Minneapolis; G. W. Wattles, Omaha; E. C. Finkbino, Dos
OFFICERS.— I’ res., Harry R. ICurrie, Chicago; V .-P ., Morton F. Plant,
Moines; Milton Tootle Jr., St. Joseph.— (V. 102, p. 608, 975, 1163.)
N. Y .; V .-P., Fred. Zimmerman, Chicago; Treas., Byron Cassell, 608 So.
CHICAGO & ILLINOIS MIDLAND R Y .— Owns Auburn, III., to Dearborn St., Chicago; Sec., J. A. Hilton, 52 Broadway, N. Y .— (V. 102,
Taylorville, 26 miles, of which 17 miles was opened June 1907. Stock auth.. p. 1249, 1625, 1718. 1810, 2253.)
$2,000,000; outstanding. $1,000,000 (par of shares $100), all owned by
CHICAGO JUNCTION R R .— Owns 3.61 miles o f elevated track, con­
Commonwealth Edison Co. Bonds out, $2,500,000; see table above. necting South Side Elevated RR. with the stock yards. Leased to that
Equipment trusts July 30 1915, $721,509. duo monthly to Feb. 1919. company for 50 years (with right to purchase at cost within 20 years) at a
Loans and bills payable outstanding, $257,656. Year ending Juno 30 1915, rental covering bond interest and all expenses. Capital stock, $50,000.
gross, $236,050; not, $56,278; other incomo, $106,111; Interost, taxes,&c., Bonds are guaranteed, prin. and Int., by Chicago Junction Rys. & Union
$191,610; bal., def., $29,221.— (V. 93, p. 1599.) N
Stock Yards Co.; they are subject to call at 105 after 1910. Form of
CHICAGO & ILLINOIS WESTERN R R .— Projected Western Avo., guaranty, V. 82. p. 568.— (V. 85, p. 792; V. 87, p. 346.)
Chicago, southwesterly to Joliot, 111., with branches, a total o f 54 miles, of
CHICAGO JUNCTION R Y .— Owns lnnor line within the Chicago
which 17 miles in operation, Willow Springs to Hawthorne. V. 83, p. 491. Union
Stock Yards district, 11.81 ra.; side and industrial tracks, 118.58 m.
Stock, $1,000,000; par, $100. V. 97, p. 1114, 1356. Of tho gon. 6s of
In 1907 New York Central interests acquired tho outer belt line, assuming
1907 ($4,000,000 auth. issuo), $820,000 wore outstanding in July 1914, the $2,500,000 outstanding bonds. V. 8.5, p. 159, 792.
guar. prin. & int. by Dolose & Shepard Co., Chicago; equip, trusts, $89,890.
CHICAGO JUNCTION RYS. & UNION STOCK Y AR D S.— Sco
V. 86, p. 107; V. 88, p. 685. For year ending Juno 30 1914. gross, $176,785;
net, $27,700; other incomo, $24,082; int., taxes, &c., $83,393; bal., def., “ Industrials.”
$31,611. In 1914- 5, gross. $138,484; net, $13,964. I’res., W . B. Clark.
CHICAGO KALAMAZOO & SAOINAW RY.— Owns 55 m.. Pavilion to
Offico, 108 South La Sallo St., Chicago.— (V. 97, p. 1114, 1356.)
Woodbury, Mich. Leased to Grand Trunk, 11 m ., Kalamazoo to Pavilion.
Stock, com., $2,000,000; out., $450,000: par of shares, $100. Mich.
CHICAGO INDIANAPOLIS & LOUISVILLE R Y — Operates the Central owns $270,000 stock and $761,000 bonds and N. Y. Central
“ Monon Route” from Chloago, 111., via Monon, Ind., to Indianapolis, Ind., $180,000 stock and $507,000 bonds. V. 90, ))• 708. Stockholders voted
and Louisville, Ky., with branches. Total June 30 1915, 621 miles, viz.:
Juno 8 1916 to sell property to Mich. Cent. R R . (V. 102, p. 1539). Year
Oper. under contract—
Miles. onding Dec. 31 1915, gross, $201,954; net, after taxes, $73,799; othor in­
Lines owned—
Miles.
Chicago to Indiana State Line_20
come. $5,632; int. & rents, $65,493; bal., surp., $13,938. Pros., II. B.
Indiana State Line to Indian­
apolis _______________________162 New Albany to Louisville_______ 7 Ledyard, Detroit; Sec., F. O. Waldo, Detroit.— (V. 100, p. 1751; V. 102,
New Albany to Michigan City__ 289 Connection to Indianapolis______ 2 p. 1539, 2253.)
Bedford to Swltz City____________40 Clear Creek to Harrodsb’g, I n d .. 9
CHICAGO LAKE SHORE & EASTERN RY.— Embraoes 472)4 miles of
Orleans to French Llok Springs-. 18 Swltz City to west of Victoria____10
trade, connecting the various works of tho Illinois Steel Co. and Indiana
Wallace Jot. to Shirley Hill A br. 64 Steel Co. at Chicago, Joliet, Milwaukee and Gary with diverging trunk lines,
A lease for 999 years with Chicago & Western Indiana (of whose stock this and also with steamship lines, stone quarries, Industrial establishments,
company owns St,000,000) gives entrance to Chloago on a mileage basis. &c.; also roaches tho coal fiolds of 111. and Ind., and Joliot, III. Stock,
Owns onc-thlrd Interest In Ky. A Ind. Terminal R R . at Louisville, Ky. $9,000,000, all owned by tho Illinois Stool C o., and so by tho U. S. Steel
Owns entire stock of Indianapolis & Louisville R R ., Wallace Jet., Ind., Oorp., which, with Elgin Joliet & Eastern guar, tho bonds, prin. and Int.,
to Shirley Hill, 55 miles, and branch Vicksburg to Cass, 5 m. V. 82, p. by endorsement. Tho last named leases tho road for 60 years from Juno 1
509; V. 83, p. 888, 1290; V. SB, p. 920; V. 87, p. 809; V. 88, p. 99. In 1916 1909. rental covering all charges and divs. on stock, dependent on oarulngs.
agreed to inorgo with itself tho Chlcago-Wabash Valley Ry.
Soo V. 90, p. 108. Divs. paid in 1909, 10%; in 1910, 5% ; in 1911, 5% and
HISTORY.— Successor July 1 1897 of Louisville New Albany A Chicago, 2% extra; in fiscal year 1912-13, 10%; 1913-14, 7% ; 1914-15, 15%.
Bonds are redeemable In whole or In part from Deo. 1 1919 at 110 and Int.;
foreclosed per plan In V. 63, p. 922. Suit settled, V. 75, p. 1031.
In Aug. 1902 the Louisville & Nashville and Southern Ry. acquired 93%
they are limited to $20,000,000 and further Issues of bonds beyond the
of $10,500,000 com. and 77% of $5,000,000 preL stock, on the basis of $78 $9,000,000 now outstanding can bo made only for 50% of cost of property.
and $90 per $100share, respectively. In their Joint 50-year 4% collateral trust V. 88, p. 1372; V. 89, p. 224, 1410.— (V. 90, p. 1170; V. 91. p. 1448.)
gold bonds at par. secured by the stock acquired. See description of bonds
CHICAOO MEMPHIS & GULF R R .— Owns Dyersburg. Tenn., to
under Louisville A Nashville. V. 74, p. 1088, 1138: V. 75, p. 28.
Hickman, K y., 52 miles. Stock, common, $520,000; 6% cum. pref.,
DIVIDENDS—
1 '04. ’05. '06. '07. ’08. 1909 to/13 T4-15. 1916. $150,000, all acquired In Feb. 1913 by Illinois Central RR. V. 96, p. 716.
On com since 1902 % . ; 2 b 3
3
3
3 3 H yearly
0
text
A dividend of 8% was paid from the earnings of 1910-11 and credited
Common dividends were resumed in 1916, 3)4% boing paid Juno 29. towards payment of pref. stock. Divs. on prof., 1)4% Oct. 1 1911;
V. 102, p. 2253.
1912, 6% (Q.-J.): 1913, Jan,, 1)4% ; Apr. and July. nouo.




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34

RAILROAD COMPANIES
lFor abbreviations, <kc., see notes on first page. ]
Chicago Milwaukee & St Paul— Com stock (see te x t).
Preferred stock 7% yearly not cum $116,304,900-Lacrosse* Daven Div 1st M (freeof State taxes)F.c*
Wlso Val Dlv 1st M sink fund not drawn.NB.zc*
Dub Dlv 1st M sinking fund not drawn, NB.zc*
Chlo & Pao Western Dlv 1st M (see text) gold.F.zc*
Chicago & Lake Superior Dlv 1st M gold__ F.zo*
Wlso & Minn Dlv 1st M g ______________________ Fz
Fargo & Southern first mtge gold assumed,.......... z
Chicago A Missouri River Dlv first mortgage.F.zo*
Gen M (for $150,000,000) gold Series A-Us.xc*Ar
do
do
Series A registered____ x
do
do
Series B ____________ xo*
do
do
Series B registered____ x
do
do
Series O gold_______ xc*
do
do
Series O registered____ x
YMllw A Nor 1st M Schwartz to Gr Bay ext 1913-xc*
Consol mtge extended 1913 (V 96. p 1364)..zc*
xDeb $50,000,000 g ______[All secured f..F .xc*A r*
Deb 250.000,000 franc, s .(b y tho Gen. ( ____Usm.x
Gold ($) bds. call at par all |
and
|__ USmxc*
Convert debs text g ______(Ref. Mtge. (_ Us.xc*&r*
Ch Mil & Puget Sound 1st M (toxt) ass.. Usxc* Ar*
General and Refunding M (see text)______Oc*Ar*
do
do
con vort series B (see text)__ c*Ar*
Chicago & N VV— Com stook $177,604,880 auth___ Tr
Preferred stook (not cumulative) see text________ Tr
Northw Union 1st M g Milw to Fond-du-Lao F.zo*
Winona & St Peter 1st M ext g land gr s f assu.F.vo*
• 'Milw Lake Shore & W cons M (now 1st) gold.Ce.zo*
• ■ Michigan Dlv 1st M (for $3,000,000) gold. .Ce.zo*
• • Ashland Division first mortgage gold_____Ce.zo*
•1 Ext A Imp M for $5,000,000 g s f riot drawn Ce.zo*
.. ■ Marsh Ex‘t 1st M $600,000 ($15,000 p ra) .Un.zo*
Sink fund bds o f 7 9 ($15,000 p m) red 105-F.ve*r
Sinking fund debentures 1933__________ Un.zc*Ar
30-year debentures_____________________ Un.zc*Ar
Ext 4s $20,000,000 ($20,000 p m )______Un.zcAr
b Also In treasJune 30 ’ 15,$123,893,800; d tok, seo no

Miles Date
Rood Bonds
185
161
351
1.117

68

230
119
77
7,691
7.691
7,691
7.691
7.691
7.691
128
421
9.579
9,579
9,579
9,579
1,978
9.579
7,390
7,390
140
175
413
82
40
693
40
1.041

Par
Value

Amount
Outstanding

$100 117,411,300
100 115.931,900
1879
1,000 2,496.000
1,526,000
1880
1,000
1.000 4,587,000
1880
1,000 25,334,000
1881
1,000
1.360.000
1881
1.000 4,755.000
1881
1.000
1.248,000
1883
1.000 3 083.000
1886
48.241.000
1889
1 .0 0 0 1
1 .000J
1889
1889
8.950.000
l.ooot
1889
1 .000 /
1,000 142,597.000
1889
1.000 /
1889
„
1,000 2,117,000
1913
1.000 5.072.000
1913
33.286.000
1909 1,000 Ac
1910 500 fr Ac 18,130,420
1916 1,000 &c 29,950,460
1912
100 &c 49,980.800
1909
100 &c 26,175.000
1914
100 Ac b 18,089.000
100 Ac 29,141,300
1915
100 130.117.029
100 22.395,120
500 Ac d3,365,000
1872
100 Ac k4,018.000
1871
1.000 5,000.000
1881
1,000 1,281,000
1884
1,000 1 ,000.000
1885
1.000 4.099,000
1889
1,000
400,000
1892
1,000 Ac 10.839,000
1879
1891 1,000 A.) 9.371.000
1891 1,000 Ac 10 ,000,000
1886 1,000 AC hl7.662.000

xt pag 0

Bonds ($10,000,000 auth.) outstanding June 30 1915, $735,000; reserved
tor terminals, Ac., $1,750,000, and remaining $7,515,000 at not to exceed
85% of cost of new construction, nor over $20,000 per mile main line. V. 90,
p. 108, 302; V. 91, p. 153. For year ending June 30 1915, gross, $203,160;
net, after taxes, $54,857: non-oper. Income, $732; Interest on funded debt,
$38,850; other charges, $11,929; bal., sur.. $4,810. In 1913-14, gross,
$206,571; net, after taxes, $64,289.— (V. 90, p. 419.)
CHICAGO MILWAUKEE & GA R Y R Y .— In operation from Rock­
ford, 111., to Delmar, 129.51 miles, including Elgin Joliet & Eastern trackage
between Aurora and Joliet, 22 miles. V. 88, p. 685.
Owing to dofault by Co. and syndicate managers on Interest upon out­
standing coll, notes, viz.: $1,500,000 dated May 31 1913 and $313,036 6 %
convertible notes on the collateral, $5,764,000 1st 5s and $5,475,000 stock,
was bid In at auction Oct. 15 by St. Louis Union Trust Co. for the note­
holders. V. 101. p. 1369. 1092. V. 86 . p. 930; V. 88 . p. 685. Equip,
trusts, $74,420. For the 10 months ended April 30 1916: Total oper. reve­
nue, $373,9.51; not, after taxes, $47,059; other income, $2,213; rentals, &c.,
$53,623; int. on unfunded dobt, $3,391: bal., deficit. $7,741. Operating
oxponsos for the 10 months included $4,753 I. S. C. Commission valuation
exponses; also an arbitrary $11,528 for depreciation of equipment, l’res.,
Albert T . Perkins, care St. Louis Union Trust Co., St. Louis.— (V. 99,
p. 1051; V. 101, p. 1092, 1369.)
CHICAGO MILW. & PUGET SOUND R Y .— See Chic. M . A St. P. R y.
CHICAGO MILWAUKEE & ST. PAUL R Y .— (See M ap.)— Operates
ram Chicago westerly to Seattle and Tacoma, Wash., with numerous brs.:
Road—
Miles.\ Road—
Miles,
Lines owned June 30 1915 (of
Second and third tracks______1,131
which 103 m. owned Jointly) .9,7201Trackage (Including 2d tracks).-407
HISTORY, Ac.— Org. May 5 1863 and on Feb.11 1874 took present name
Chicago Milwaukee & Puget Sound Ry. (see map),' forming Pacific
extension, was acquired In fee Jan. 1 1913, Its bonded debt being assumed
and the stock ($ 100 ,000,000) hold alive merely as a muniment of title. V.
96, p. 62; V. 95, p. 1683; V. 97, p. 819. The line from Spokane to
Marengo, Wash., 65 miles, built by Ore.-Wash. R R . A Nav. C o.,
Is used Jointly. V. 99, p. 832.
The Seattle Port Angeles A West. line from Port Angeles, Wash., west, 24
miles, was opened in May 1915. An extension east from Port Angeles to
Puget Sound, 62 miles, was opened about N ov. 1915. V. 100, p. 1751; V.
101. p. 938, 1552.
Snoqualmie tunnel through the Cascade M tns., about 12,000 ft. long was
opened In 1915, shortening line 3.6 miles. V. 99 ,p . 466, 832; V. 100. p .307.
In 1912 acquired Bellingham Bay & British Col. (now Boll. A Nor. Ry.),
Bellingham, Wash., to Glacier, B. C ., 44 miles, with branches, 5 miles.
V. 94, p. 767. Also owns all stock of Tacoma Eastern RR ., Tacoma
to Morton, with branches, 92 m. V. 91, p. 651. These aro operated Inde­
pendently. In July 1911 acquired 20% o f stock o f Indiana Harbor Belt
R R . On Jan. 21 1914 took over control o f the Idaho & Washington North­
ern R R . and In Jan. 1916 bid property in at foreclosure and issued $5,­
369,000 bonds on account o f same. V. 102, p. 250, 436. V. 97, p. 1821;
V. 101, p. 2144.
CAPITAL STOCK.— 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 If not
earned It has no cumulative right. After 7% on com., both share pro rata.
D1VS. since 1893— 1 ’95. ’96. ’97-’00. ’01. ’02-T1. ’ 12-T4. 15
1916.
4 5 y ’ly
6 7 y’ly
5 y'ly 4 44 244,—
O d common - .........%\ 2
In Sept. 1915 2% was paid; Mar. 1916, 244%. V. 102, p. 436.
BONDS.— The 99-year General and Refunding Mortgage o f 1913 Is an
open mortgage and not limited to any specified amount, but the bonds at
any time outstanding are limited to three times tho outstanding stock, now
amounting to $232,623,100. When tho amount of bonds issued thereunder
(bearing Interest not In excess of 6 % ) reaches $696,000,000. furthor Issues
must bo limited to 75% of the cost of property placed under tho mortgage.
The mortgage is secured by a direct lien on all the properties, including
about 9.579 miles directly owned, 102 miles Jointly owned, terminal proper­
ties In Chicago, Milwaukee, Seattle. Tacoma. Spokane & other cities, and
the entire equipment, subject to 8184,421,000 prior liens, to retire which an
equal amount or bonds Is resorved. $132,007,000 being also reserved to re­
tire outstanding debentures and convertible bonds, which aro equally se­
cured thereunder. None o f the prior liens mav be extended and no further
amounts Issued except gen. M. for refunding purposes, so that eventu­
ally the Gen. and Rer. bonds will become an absolute first lien. Furthor
bonds may be Issued for Improvements, betterments, acquisitions, construc­
tion, equipment, &c. Of the bonds, $154,489,500 have been Issued in ex­
change for Chic. Milw. A Puget Sound 1st Is (leaving only $26,175,000 of
tho latter outstanding). On April 30 1916 after sale of $29,141,300,
tho treasury held available $123,683,200 of tho now bonds issued for said
exchange and against improvements, &c. V. 100, p. 307; V. 97, p. 1662.
1583; V. 98, p. 7.3, 303, 386, 1244, 1315’, 1766; V. 99, p. 1450.
In Jan. 1015 $29,089,700 Gen. & Ref. M . bonds, having been underwrit­
ten, were offered to stockholders at par. This block or bonds is converti­
ble Into common stock at par for 10 years beginning Feb. 1916. V. 100.
p. 139, 228, 307, 811, 900, 981; V. 101, p. 287.
Abstracts older mortgages, V. 45. p. 114, 144, 212; V. 48, p. 830.
T he general mortgage of 1889 (see abstract in V. 48. p. 830: V. 96, p. 1088,
1156; V. 97, p. 175, 520; V. 98, p. 386) is for *150,000.000 to tho United
States Trust Co. o f Now York, as trustee, and covers tho entire railway
property and franchises o f the company (therein described), subject in July
1915 to $54,429,000 prior liens, which are paid as they mature. V. 89, p.
1279, 1541, 1596, 1667. In Dec. 1915 $2,856,000 Gen. M . 444s wore sold
to refund Dak. & Gt. So. 5s due Jan. 1 1916. V. lOl, p. 2143.
The $28,000,000 4% 25-year debs, of 1909 are secured by new Gen. and
Ref. mtge. V. 88 . p. 1559: V. 89. p. 1223. 1346.
In May 1910 sold to a group of French banks 250,000,000 francs 15-year
4% debs. They are equally sec. by new gen. and ref. m tge., V. 90, p. 1424,
1489, 1554; V. 91, p. 38, l7l0; V.98, p. 303. See “ Gen. Finances” below.
The $50,000,000 444% debentures o f 1912 aro convertible at par Into
common stock after June 1 1917 and prior to Juno 1922, at the option of tho




[Vol. 102

RAILWAY STOCKS AND BONDS
Rate
%

When
Pagable

Last Dividend Places Where Interest un#
Dividends are PayaoU
and Maturity

444% T5 M A S Mar 1 ’ 16. 244 N Y Office 42 Broadway
do
do
M & S Mar 1 ’ 16. 3 h
7
do
do
J A J July 1 1919
5
do
J A J July 1 1920
do
6
do
do
J A J July l 1920
6
do
do
5 g J A J Jan 1 1921
do
do
5 g J A J July 1 1921
do
do
0 g J A J July l 1921
do
do
6 g J A J Jan 1 1924
do
do
J A J July 1 1926
5
do
do
/
4 g J A J May 1 1989
Q— I May 1 1989
do
do
\ 4g
do
do
/ 3 44 g J A J May 1 1989
do
do
May 1 1989
\ 3 44 g Q - J
do
do
( 4 44 g J A J May 1 1989
do
do
May
1
1989
l 444 g Q— J
do
do
4 44 J A D June 1 1984
do
do
444 J A D June 1 1934
& J July 1 1934
do
do
, 4K J
Paris and London
J A n June 1 1925
J <
N Y office 42 Broadway
1 4 g J & D June 1 1925
do
do
444 g J A O June 1 1932
Jan 1 1949
do
do
4
a
do
do
444 g A A O Jan 1 2014
do
do
5 g F & A Jan l 2014
7 in 1915 Q— J July 1 1916 1-M Co’s office 111 B’ way.Nv
do
8 In 1915 Q—J July 1 1916 2%
do
do
do
7 g M A S June 1 1917
do
do
7 g J A D Dec 1 1916
do
do
6 g M & N May 1 1921
do
do
6 g J A J July 1 1924
do
M & S Mch l 1925
do
6 g
do
do
6 fit F A A Feb 1 1929
do
do
A A O Oot 1 1922
6
do
do
6 A 6 A A O Oot 1 1929
do
do
M A N May 1 1933
5
do
do
A 15 A O Apr 15 1921
5
do
do
F 15 A A Aug 15 1926
4

holders, within 10 days after any dividend shall become payable on the
common stock and redeemable at 105 and int. after Juno 1 1922 on 90 days’
notice. They are secured by new gen. and ref. mtge. V. 94, p. 1056,
1118.1565: V. 95, p. 744, 1472; V. 96, p. 284, 789; V. 97, p. 364: V. 98.
p. 303. 452.
Of the Chicago Milwaukee A Puget Sound Ry. 1st 4s assumed on pur­
chase of road, $181,684,500 wore sold and $154,489,500 wore exchanged
for C. M . A St. P. Gen. & Ref. bonds and deposited under that mortgage.
V. 92. p. 593. 659. 725. 1374; V. 93. p. 1388. 488; V 94, p. 767. 1185; V. 98.
p. 1692. Bonds cover road, terminals and equipment, and run to maturity.
The Puget Sound A Wlllapa Harbor Ry. 5% 5-year trust gold certificates
aro secured by the entire stock of that company under an agreement pro­
viding that the St. Paul shall purchase tho stock at par on Juno 1 1918
unless the certificates are sooner redeemed. V. 96, p. 1700, 1839.
GENERAL FINANCES. AO.— In June 1914 $18,089,000 Gen. A Rer.
4448 were sold, and In Jan. 1915 $29,141,300 convertible 5s. V. 98. p. 1766;
V. 100. p. 139, 307, 811: V. 101. p. 287.
In Dec. 1915 arranged to issue $48,176,650 dollar bonds under trust
agreement of 1910 to retire a like amount of 4% 15-year French loan bonds
heretofore Issued thereunder when and as surrendered by owners to tho
French Govt, and sent to this country by that Govt, to raise money.
These bonds aro secured by Gen. & Ref. M . of 1914 equally with other
bonds and by an equal face value of tho French bonds, on basis that 506
francs equal $96.3533. In June 1916 about $30,000,000 of the French
bonds had given place to these dollar bonds and latter were offered at 96
and int. V. 102, p. 344; V. 101. p. 2143: V. 102. p. 1625.
Funded debt in hands of public Jan. 1915, $37,482 perm. V. 100. p. 307.
The electrification of 450 miles of the Puget Sound main line, which was
contracted for In Jan. 1913, will cost, it is estimated, $12,000,000. at the
rate of $1,500.000 or $2,000,000 annually. The first section botweon Throe
Forks and Deer Lodge, M ont., 113 miles, was opened Dec. 15 1915. Soo
V. 96, p. 135: V. 97. p. 1821; V. 101. p. 845, 1369, 1972; V. 102, p. 436.
Montana Power Co. in V. 96, p. 1017.
EARNINGS.— 10 raos., /1915-16.-Gross, $87,372,275; not, $27,068,639
July 1 to April30.
\1914-15--Gross. 76,380,308; not, $20,199,748
For the 10 months In 1915-16, after adding other income, $2,756,241 and
deducting interest on bonds ($13,006,314) and rentals ($1,923,715), there
romained for dividends, &c., $14,894,853.
ANNUAL REPORT.— Fiscal year onds June 30. Annual meeting Is
held In Sept. Report for 1914-15 In V. 101. p. 917, 938; odit. p. 881.
Comparison with same items in earlier years aro somewhat inaccurato.
1914-15.
1913-14.
1912-13.
Average miles operated_____________
10.058
9.684
9,612
Passenger earnings__________________$17,052,428 $18,961,225 $18,457,136
Freight earnings.................................... 63.953,799 65.315,755 67.964.161
Mall, express, &c., earnings_________ 9,529.147
9,340,720
7,662,758
Total earnings....................................$91,435,374 $93,613,700 $94,084,055
Maintenance of way________________ $10,377,185 $10,722,100 10,648,785
Maintenance of cars and engines____ 13,737.535
13,625,096 13,871,986
Transportation and traffic_________ 37,454,762 38,648,555 36,960,185
T axes...............
4.746.721
4.106.558 3.823,833
Miscellaneous______________________
402,119
C’r.95,450
1,403,012
Total expenses.................................... $66,618,422
Net earnings.......................................... $24,716,952
Total net inc., Incl. “ mlsc.’ ’ (below )._ 28.366,665
Deduct— Bond interest---------------------- 14,636,298
178.809
Hiro of equipment________________
Rents paid.............
871.503
Miscellaneous______________________
716,772
Preferred dividends (7 % ).................... 8,109.206
Common dividends..............................(444)5258254

$60,996,859 $86,707,801
$26,616,841 $27,376,254
30.091,942 $31,523,541
13,254.823 $11,438,141
755,304
765,363
709,404
595,470
479,947
8,109,206 8,112,219
(5)5842.505
5.797.108

Balance surplus___________ _____ ___ df$1399,177 sr$1524.575 $4,231,358
‘ ‘Miscellaneous’ ’ Included In "total net Income” In 1914-15: Int. on
bonds owned, $342,257: dlvs. on stock owned, $515,191: Int. on other secur­
ities, loans & accts.. $1,974,565 ($2,065,328 In 1913-14); rents, $480,988;
other, $329,712 (against $721,241 In 1913-14).
OFFICERS.— Pres.. Albert J. Earllng, Chicago; V.-Ps., H. R . Williams.
N. Y .; J. H. Hiland, E. S. Koeley, E. D. Sowall and D. L. Bush, Chicago,
and II. B. Earllng, Seattle, Wash.; Asst. Sec., O. B. Ferry, N. Y .; Troas.,
F. G. Ranney, Chicago; Sec., E. W. Adams.
Directors.— H. R. Williams, New York; A. J. Earllng, Chicago; L . J.
Petit. Milwaukee; J. Ogden Armour, Stanloy Field, Chicago; Samuel M r.
Roberts. William Rockefeller. Donald G. Geddes, John A. Stewart, Percy A.
Rockefeller. Walter P. B liss,------------------------------- , John D. Ryun. Now
York. N. Y . offico, 42 B'way.— (V. 102, p. 250, 344, 436, 1625, 1718.)
CHICAGO & NORTH WESTERN RY.— (.See M ap.)— Operates an Im­
portant system of roads uniting Chicago, 111., with Omaha, Neb.: St. Paul,
M inn., with the great wheat belts of Dakota, Nebraska, A c., and with the
mining regions of Michigan and the Black Hills, 8,108 miles July 1 1915,viz.:
Road owned in fee—
Miles.
Miles.
Main lines, A c________________ 7,946 James Rlv A Nor West (loosed)
39
Entire stock owned—
Iowa Southern-----------------------12
77
Wolf River Valley____________
2 Sundry trackage______________
De Pue Ladd A East, (leased)
[Second tra ck .....................
9061
Also has large Interest In Chlo.
Bello Fourche Valley (leased) . .
Macoupin County Extension..
St. Paul Minn A Omaha____1.753
Through passenger service between Chicago and Pacific coast Is main­
tained via Union Pacific. V. 93, p. 1667; V. 94. p. 697.
HISTORY. Ao.— A Vanderbilt line (V. 75, p. 1086) organized In 1859.
CAPITAL STOCK.— Of the com. stock, $2,338,502, and of tho pref. $3,­
835, remained In company’s treasury In July 1915. Prof, stook has prior
right to 7% : then com. 7% : then pref. 3% , then com. 3% : then both classes
•hare. V. 89. d . 1482.

J u n e , 1910.1
iF o r

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
a b b r e v ia tio n s , A c . , s e e n o te s o n f i r s t p a g e]

Miles Dale
Road Bonds

Par
Value

Chicago & North Western (Con)—

Amount
Outstanding

Rate
%

When
Payable

35
Last Dividend
and Maturity

Gen gold bond M $165,000,000________ Us.xc*A
5,047 1897 1000 Aol m 30817000 1 344 g M A N Nov 1 1987
do
do
do
registered..: 5,047 1897 1000 Ao/
l 3 44 g Q— F Nov l 1987
do
do
do
x and y o 5.047 1897 l.000 Ao\ 30,554,000
M A N Nov 1 1987
4
do
do
do x and y registered_ 5.047 1897 l.OOOAo/
4
0 — K Nov 1 1987
do
do
do
M "‘
5,047 1897 1.000 Ac 17,972,000
M & N N ov 1 1987
5g
Mllw A State line 1st M g gu (V 88 o 230)_F.xo*Ar
50 1906 1.000 Ac 2.500.000
344 g .1 6a J Jan 1 1941
O & N W equip tr 1912. Ser A. $300,000 ylyF.zc*r
1912 1.000 Ac
2 , 100.000
444 J A J July '16-1922
do
doser. U$300,000 yrly_____________ z
1912 1.000 Ac
2 . 100.000
444 A A O Oct '16-1922
do
do ser. O $400,000 see text___ F.zc*
— 1913 1.000 Ac t3 .196.000
444 J A J July ’ 16-'23
B r a n ch L in e B o n d s A s su m e d
90 1898 1,000 Ac
Boyer Valley Ry 1st M g $16,000 per mIleF.zo*Ar
1.440,000
344 g J A D Deo l 1923
119 1899 1.000 Ac
Minn A la Ry 1st M gold $16,000 per mile F.zo*Ar
1.904,000
344 g J A D June 1 1924
26 1899
1.000
p416,000
Mankato A New Ulm 1st M gold $416,000-F zo’ Ar
344 g A & O Oct 1 1929
Prlnoeton A Northw 1st M $2,100,000 gold.F.zcAr
105 1901 1.000 Ac n l,940,000
344 g J A J Jan 1 1926
85 1901 1,000 Ac
Peoria A Northwest 1st M $2,125,000 gold.F.zoAr
2.125.000
344 g M A S Moh 1 1926
Sioux City A Pacific 1st M gold $4,000,000-F.zcAr
125 1901 1.000 Ac 03.926.000
344 g F A A Aug 1 1936
3.3 1900
1.000
Minn A So Dak 1st M gold $528,000...............F.zc
528.000
344 g J A J Jan l 1935
Iowa Minnesota A Northwestern 1st M g ..F ,cz*A r
195 1900 1.000 Ac 3.900,000
344 g J A J Jan 1 1935
Mil Sparta A N W 1st M g $15,000,000 guFxo*Ar
179 1912
1,000 U14878.000
M A S Mch 1 1947
4g
1912 1.000 Ac 2,500,000
Dos Plaines Valley Ry 1st M $2,500,000. F.xc*Ar*
444 M A S Mch 1 1947
Manlt Gr BayANW 1st M g gu ( V88 . p230)F.zo*Ar
114 1906 1.000 Ao 3.750,000
314 g J <fc .) Jan 1 1941
50 1913 1.000 Ac
St Paul East Gr Trk 1st M g gu______xc*Ar*
1 . 120,000
444 J A .7 Jan 1 1947
115 1913 i.000 Ac r9.884.000
St L P & N VV M g guar (V 97. p 1203) ..F .yc*r*
5 g J A J July 1 1948
1.000 7.725.000
From Elk AM V cons M $25,000 per mile assumed.z 1,170 1883
6
A A O Oct 1 1933
235 1900
Chic Peo& St L R R— Prior lien M g call at 10744 Eq.xc*
1.000 2 .000,000
444 f? M A S Mch 1 1930
__ .
_____
_ 2 .000.000
Gen and refunding M $15,000,000 gold red text__ x
J <& D 30 years
__ 1913
Equipment notes Series A duo $59,000 pearly------1,000
6
M & N To Nov 1 1923
472,000
__ 1911
Chic Riv A Ind— 1st M gold guar p & i _______MC.xc*
l.utio
765,000
5 g A A O Oct 1 1924
__ ____
Chicago Rock Isl & Pacific Rv— Stock ($75,000,000).
100 74,482.523
Quar
Dec 31 13 IK
765 1877 1.000 Ac 12,500.000
First M Chlo, 111., to Counc Bluffs A branches Usz.c*
J A J July 1 1917
6
General mortgage $100,000,000 gold..
Ba.xo'Ar 2.4S6 1898 1.000 Ac 61.581,000
4 g J A J Jan 1 1988
__ 1902
Coll tr M g (Choctaw) Ser O A P call 10144-xCe.c*
1.000 2,988.000
M A N May 1917-1918
4g
— 15-’ 16 1,000 Ac
Receivers’ certificates callable 101-------------------Z.c
2.988.000
5
A A 0 3 0 Apr 30 1917
do extended 1 year from July 1 ’ 16 (V102 p2254)
1916
6
July 3 1917
2,500,000
1st & ref M $163,000,000 g red 105 t,o 'll.C e.xc*A r Text 1904
500 Ac *111140000
A & O Apr 1 1934
4g
Receivers' certificates extended in 1916----------------__ 1915
M
500,000
S
Do
do
Series B ______________
__ 1916
600,000
Collateral notes now an obligation of receiver, see dc xt pag 0,
In addition, sinking fund July 1915 held: d $135,000: e also on han d $64.00 0; g $2.30,00 0; h $970. 000: k $22 3.000; m $499,0
hand: n $160,000: o $74,000: p a llin s.f.; r.$116,000: s$.38,0 00 In s. f.; *incl $ 16,199,000 i n treas. or pledged a s coll.J’ne .30'15
C H IC A G O & N O R T H W E STE R N

(C onclud ed)—

In July 1915 U. P. system (Oregon Short Line) owned $4,018,700 stock,
the company ownlng$4,171.500 Union Pacific pref. stock.
DIVIDENDS—
1 ’86-’93. '94. '95. '96-'99. '00. 1901. 1902-July’ 16
3
4 5 y’ly
6
6
7 yearly
Common --------------- } 6 y'ly
Preferred__________ J-------------------- 7 yearly-------------------- — 8 y'ly—
BONDS.—General Mortgage.— See Abstract in V. 65, p. 1175. The
authorized Issue Is $165,000,000 (U. S. Trust Co., trustee): $131,645,000
were reserved to retire underlying bonds (of which $59,550,000 had been
retired to Feb. 1 1915), and remainder for additions and Improvements
$4,000,000 at once and $1,000,000 a year thereafter. V. 65. p. 1070: V. 65
p. 69. 111. 571: V. 75. p. 980; V. 88, p. 280, 563. In Fob. 1916 thero were
$30,817,000 gen. 3 44s. $30,554,000 4s and $15,000,000 5s outstanding; there
was hold In the sinking funds $489,000, and there was owned by the com ­
pany or due from the trustee $4,101,000 bonds. Outstanding generals are
free from all taxes except $8,054,000 4s, sold In M ay 1914: $10,000,000 5 s
sold in Doc. 1914 and $8,000,000 5s sold in Feb. and May 1916, and $2,­
972,000 5s sold May 1 1916, and are stamped “ Federal income tax not
assumed by C o.” V. 91. p. 1385: V. 80, p. 1489; V. 92, p. 117, 1178: V.
93 ^> .^1667i^V. 98,^p. 1459, 1536, 1608, 1993: V. 99, p. 1748; V. 100, p.

P l a c e s W h e r e I n t e r e s t and
D iv id e n d s a r e P a y a b le

do
do
do
do
do
do
Farmers
do
do

L

do
do
do
do
do
do
A Tr C o. N Y
do
do

Co's office. 111 Broadway
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Sept '15 coup not paid
June 1914 coup not paid
Merch Nat Bank. Bost
First Nat Bank, N V
do
do
do
do
do
do
Apr 1916 coup pd wh duo
0 (also $4.101.000 on
t$4.000ins.f.;ii.$122.000

For 12 mos. ending June 30 1915, gross, $1,597,908 agst. $1,663,798 In
1913-14; net, $126,933 agst. oper. def.. $22,670.
Pres., Bluford Wilson. Springfield, ill.; Sec. and And.. H. W. Berger.
Springfield, 111.; Treas.. F. J. Wilson (V. 99, p. 1527, 1672; V. 102, p. 1625).
CHICAGO RIVER & INDIANA R R .— Owns 11.44 miles o f terminal
road; Atch. Top. A Santa Fe trackage, 9.11 m.; P. C. C. A St. L. R y.
trackage, 7.43 m.: trackage through Union Stock Yards, 9.21 m.; total oper­
ated, 37.19 miles.
Stock, authorized, $1,000,000; outstanding, $500,000; par, $100.
Chicago Junction Rys. A Union Stock Yards Co. (see Miscellaneous Com­
panies) guarantees tho bonds, prin. and int., by endorsement. V. 101 d .
773. Dividends 1913, 8 % ; 1915. 6 % . Of the 1st 5s ($2,000,000 autb.
5765,000
have been sold (V. 101. p. 773). They are redeemable at
105, beginning Oct. 1916. Additional bonds may be Issued for 66 2-3%
of the cost of additional properties and franchises, but only when annual
earnings are twice the Interest charges, including bonds then to be Issued.
Year ending June 30 1915, gross, $402,954; net. $151,918; other income.
$145,187: Int., rentals, A c., $239,401; divs. ( 6 % ). $30,000; bal., $27,704,
Pres., A Treas., A. E. Rawson; Aud., E . S. Gentle.— (V. 101. p. 773.)
CHICAGO ROCK ISLAND & PACIFIC R R .— Company's stock inter­
est in the Railway (see below ) was foreclosed In Dec. 1914. V. 102, p. 800.

The sin kin g fu n d bonds of 1879 arc secured by deposit In trust of $15,000,
000 of 1st M. bonds at $15,000 per mile on subsidiary lines, the most Im­
CHICAGO ROCK ISLAND & PACIFIC R A ILW A Y .— The sys­
portant being described In “ Supplement” of May 1894 Of the sinking fund tem extends from Chicago. Ill , via Omaha. Neb., to Denver and C olo­
bonds of 1879, $5,154,000 are 6s: the sinking fund Is at least 1% o f out- rado Springs, Colo., also to Minneapolis, Kansas City, Ac. Connects with
ltandlng bonds, which are subject to call at 105. and through Its operation tho Southern Pacific for Pacific Coast servico.
those outstanding have been reduced from $15,000,000 to amount In table.
O w n e d i n F e e (5,375 M i l e s ) . M i l e s .
O w n e d i n F e e ( C o n c l u d e d )— M i l e s
The Extension bonds ot 1886 are secured by deposit Intrust of first mort­ Chicago, 111., to Col. Spgs., C ol.1,063
lines__________________ 2,160
gage bonds at a rate not exceeding $20,000 per mile. Included In the collat­ Davenport, la ., to Terral, Okla. 707 Branch
C a p . S t k . a l l o w n e d (2,039 m.)
eral July 1 1915 were $10,675,000 Fremont Elkhorn A Mo. Valley lsts and Herlngton, Kan., to Texhoma,
Choc. Okla. A Gulf (leased)__ 967
$2,560,000 Wyoming Centra) lsts (consolidated with F. E. A M. V.), Ac.
O kla..............................
323 Ch. R. I. & Gulf R y_______
469
The Fremont Elkhorn A Missouri Valley consols have a first lien on 1,170 Burlington, la ., to Mlnn’p.Mlnn. 308
Island, Ark. A La. R R . ssx
miles (Fremont, Neb., to Dcadwood, S. D., 557 miles, and branches to Vinton, la ., to Watert’n. S. D. 376 Rock
Paul A K. O. Short Line R R . i«3
Hastings, Albion, Ac., 613 miles): but besides the amount of Issue given as St. Louis, Mo., to Kan. City, M o.284 St.
Rock Isl. A Dardanelle R y _________ 14
outstanding In the table, $10,675,000 (along with $2,560,000 Wyoming Bravo, Tex. (New Mex. State line) Rock
Island Stuttgart A So. Ry 2 1
Central firsts, a F. E. A M. V. Issue) are held as part collateral for Chicago
to Santa Rosa. N. M................. 112
P e r p e t . l e a s e ; t r e a t e d a s o w n e d __
A North Western extension bonds of 1886.
Tex. (Tex.-N. M. State
Peoria A Bureau Valley RR. Co. 4g
Milwaukee Sparta & Northu'cstcrn Ry. 1st M . bonds (assumed in April Glenrlo,
line) to Tuoumoarl, N. M____ 42
1912), road merged in C. & N. W. V. 94, p. 416, 1056, 1185. In Jan.
Total mileage owned directly and througn capital stook, Ao________ 7,462
1913 sold $2,500,000 Dos Blaines Valley Ry. (assumed March 1913) and
$1,120,000 St. Paul Eastern Grand Trunk Ry. guar. 444s, and in Oct. 1913 Leased Lines (see statement for each)— Keokuk A Des Moines R y. (see
that co.), 162 m.; White A Black River Valley R y. C o., 62 m
224
$10,000,000 St. L. Peoria & N. W. Ry. guar. 5s (assumed). V. 96, p. 201
.Trackage; Denver, Pueblo, Kansas City, Ao____________________ " " . 644
789; V. 97, p. 1203; V. 98, p. 999: V. 99. p. 829; V. 100, p. 1671.
Equipment notos ($6,000,000 issued Doc. 1912) and $4,000,000 July 1913
Total mileage June 30 1915.......... ..................... ......................
8 330
due $400,000 ann. V. 95, p. 1402, 1541, 1745; V. 96, p. 201; V. 97, p . 364’.
As to Trinity A Brazos Valley Ry., see that co. and V. 98, p. 1921. ’
Effective July 1 1915 Keokuk A Des Moines Ry. was oper. separately
EARNINGS.— For ton months ending April 30:
Tho Montezuma branch, A c., 101 miles, were leased for 50 v earsto
Ten Months—
Gross Income.
Net.
Charges.
Bal. Sum
Muscatine A Iowa City Ry. as of Jan. 1 1916.
1915-16.......................... $77,561,820 $22,822,1.36 $8,69.3,373 $14,128 7( 3
Receivership.— On April 20 1915 receivers were appointed, owing to In­
1914-15.......................... 69,936.288 18,831.572 9,277,392
9,554,180
ability to finance about $6,000,000 o f short-term loans, A c., and require­
REPO RT.— The annual meeting Is held the third Thursday In October
for improvements and equipment. Sole receiver is now Jacob M
Report for 1914-15 at longth In V. 101, p. 918, 943: editorial, p. 976. Com­ ments
Dickinson. Restitution suit against former directors is pending. V 100*
parisons with oarllor years Inaccurate, owing to changes In accounting.
p. 473, 555. 1436. 1509; V. 101. p. 923, 1092, 1972. Foreclosure suit under
Operating Revenues—
1914-15.
1913-14.
1912-l'3.
.” was sought in Juno 1916 by the bondholders’ committee
Average miles operated------------------8,108
8,071
7 Q74 “ 1st A Ref. M
20% of tho bonds, but resisted by stockholders. V. 101 n
Freight revenue-------- --------------------- $51,923,861 $53,989,475 $54.66l’588 representing
V. 102, p. 1059, 1163, 1249, 1625, 2166.
Passengor revenue............................... 20,528,443 21,540,543 20,557’623 2070;
On March 21 1916 the receiver was authorized (V. 102, p. 1249, 1435) to
9,029,317
7,816 709 issue
M all, express, A c.........- ..................... 8.327,371
(a) $600,000 Series B certificates, subordinate to First A Refunding 4%
bonds; (b) $1,494,000 receiver's certificates to pay tho company’s Choctaw
Total operating revenues------------ $80,779,675 $84,559,335 $83,035 921 Purchaso
gold bonds of 1902 maturing May ! 1916, these certificates, like
Total not Income----------------------------- $22,683,904 $23,245,927 $24.66()!769 tho $1,494,000
issued in 1915, to rank ahead of tho First A Refunding 4s.
Rents— debits--------------------------------1.586,064
1,194,268
Tho interest duo April 1 1916 on tho First A Ref. M . 4s was naid at
Interest on bonds, A c---------------------- 9,595,616
9,239,008
8.529.206
maturity.
V.
102, p. 1249.
Sinking funds and other paym en ts...
312.250
315,186
262.212
Tho Jan. 1916 int. on tho $20,000,000 debentures was not met at ma­
Dividends on common stock, 7 % —
9,108,015 9.108,015
9,108,015 turity and had not been paid to Juno 1 1916. V. 102, p. 344, 1059
Dividends on preferred stock, 8 % —
1,791,600 1,791,600
1,791,600
Interest payments on Trinity A Brazos Valley Ry. (owned Jointly with
tho Colorado A Southern. V. 100, p. 2087). Galveston Term. R y. Consol
Balance, surplus_________________
$810,380
$1,206,055$3,775,408
Ind. Coal Co. and proportion of int. on Peoria Ry. Term. Co. have been
OFFICERS.— Marvin Hughitt, Chairman; Pres., R. II. Aishton
discontinued by the receiver. V. 101. p. 1710.
Chicago; V.-P., S. A. Lynde: Sec., John Davis Caldwell, Chicago: Treas ’
Bank loans outstanding, extended from time to time, includo Bankers
Arthur S. Pierce. I l l Broadway, New York.
Trusty Co. ^loan, $1,600,000, and Central Trust Co. loan, $2,500,000.
Directors.— Marvin Hughitt (Chairman), W. K. Vanderbilt. F. W. Van­
derbilt, Harold S.Vanderbilt, Chaunce^M. Dcpew, James Stillman,Edward
In 1915 $2,898,109 5% equipments trusts wero authorized to purchase
4,000 freight cars. V. 101. p. 1710.
CAPITAL REQUIREM ENTS.— In Nov. 1915 expert J. W. Kendrich
(V. 101, p. 1713) that the system required the expenditure for Im­
Crano, Dalton, Mass.; Homer A. Miller, Dos Moines, la .— (V. 102,p. 1986.) roported
provements and additions In the next three years o f $27,000,000, and In the
CHICAGO PEORIA & ST. LOUIS RR.— ROAD.— Owns from Pekin to following two years $4,000,000 yearly, and should thon show:
Granite City, 111., 180 miles; Granite City to Madison, 2 miles; Madison to Year—
Gross.
Net Income.
Charges.
Bal..Surv
Bridge Jet., 3 m.; Havana to Jacksonville. 111., 42 m.; branch, Lockhaven 1918-19.......................$74,550,000 $21,014,000 $16,711,000 $4,303,000
to Grafton, 8 m.; total owned, 235 m.; trackage. Pekin to Peoria, 10 m • 1920-21............. ......... 76.350.000
24.492,000
17.111.000
7 381 000
In Springfield, 1 44 m.; to St. Louis Station, 9 m.; total 255 44 miles.
”
See also V. 102, p. 1249; V. 98, p. 762, 1536.
,
Successor, per plan V. 89, p. 285. 1541, of railway foreclosed Nov. 18
For independent report to Amster committee, Ac., see V. 102, p. 608,1435
1912 .V. 96, p. 135. On July 31 1914 Pres. Bluford Wilson of Springfield.
Stockholders' Protective Committee.— Charles Hayden (Chairman) M M
111., and William Cottor of New York were appointed receivers. V. 99 Ferguson, 25 Broad St., Sec. V. 100. p. 1671. 2084: V. 101, p. 1092.
p. 342. Stock. $4,000,000.
Minority Stockholders' Committee.— N. L. Amster. Boston (Chairman)Committee for Prior Lien 444s.— Sidney O. Borg (Chairman). J. N. Bab­ sco V. 100, p. 1436, 1509, 1671; V. 102, p. 800, 1435.
cock, 37 Wall St., Sec.; Eq. Tr. C o., N. Y .. dopositaiw. V .99,p.673, 1527
Committee for Choc. Okla. & Gulf Bonds.— E. B. Morris, C. S. W . Packard,
Committee for Gen. & Ref. M . 444s.— Frederick J. Lisman (Chairman), Chas. E. Ingersoll, Thomas S. Gates and Edward B. Smith, all of Phila­
and Alfred Shopherd: Graham Adams, 30 Broad St., Socr,: Bankers Trust delphia. Girard Trust Co. will be depositary if any. V. 100. p. 1509.
C o., N. Y ., depositary. Majority deposited. V. 99. p. 1213, 1450, 1672.
Debenture Protective Committee.— Seward Prosser (Chairman); B . W. Jones.
BONDS.— Of tho Gen. A Ref. M . bonds ($15,000,000 auth.). $1,100,000 Sec., 16 Wall St.. N. Y . Bankers Trust C o., N. Y ., depositary. V.
100, p. 1509: V. 101, p. 212. 693. 1972; V. 102. p. 344.
bear only 3% Interest for tho first six years. Tho coupons due Juno 1914
Committee for 1st and Ref. M . Bonds.— Charles A. Peabody, Allen B.
were defaulted. V. 99. p. 118: also Sept. 1914 coupons on Prior Lion 4 ^ 8 .
Notes to Car Trust Realization Co. for $140,132, payablo in installments Forbes, W. A. Day, Percy A. Rockefeller, and (representing foreign hold­
ers) John II. McClement, and A. J. Hemphill of New York; Albert W.
out of surplus earnings. Equipment notes of 1913, sco V. 102, p. 1625.
Harris o f Chicago; Sec., E. C. Granbery, of Harris, Forbes A Co.; Guar­
EARNINGS.— 10 mos., (1915-16........ Gross, $1,456,454; not, $219,154
anty Trust C o., N. Y ., depositary. V. 100. o. 1751, 1671,12084; V. 101
July 1 to April 30.
\1914-15-------Gross, 1,371,304; net, 129,376 p. 287, 1464, 1806; V. 102, p. 250. 885, 1249, 2166.




[Vol. 102.

RAILWAY STOCKS AND BONDS

36
R A IL R O A D

C O M P A N IE S

{For a b b r e v i a t i o n s , & c . , s e e n o t e s o n f i r s t p a g e ]

Chicago Rock Island & Pacific (Concluded) —
Debentures (told redeem 105----------------- Ba.xo* &r*
Cedar Rapids I F & N W 1st mtge gold guar.Ce.zo
B C R & Nor consol first mortgage gold-Ce.zo* &r
Minneapolis A St Louis 1st M gold (assum ed)...Fz
Rook Island A Peoria cons 1st M (V 75, P 30)-Mpz
Choo O & G general (now 1st) M $5,500,000 g_xo*«r
Choc A Mem 1st M 53,750.000 assumed-GP.xo&r
L Rock Bridge 1st M assumed g red______ GP.xo*
Consol mtge gold_______________________ GP.xo*
Two-year coll notes red 102 (extended in 1916)-B a
R I A & L 1st M 530,000.000 g gu red 105 Ba.xo* &r*
Little Rock & Hot Spg West notes guar p & i-----St P & K C Short l,— 1st M g gu red i05-Ba.xo* &r*
Rook Island-’ Frlsoo Term 1st M g guar Jointly— o*
Peoria Ry Term 1st mtge gold guar Jointly redL.IC
Galveston Term Ry 1st M g gu Jtly with Col& S.B a
Equip notes due 5325.000 seml-an (V 84,p 338)--B a
do Ser O gold due 5265,000 seml-ann.........Ce.xo
do Ser D g 5225.000 s-a (V 90, p 913. 1362) -Bax
do Ser E g 55,000 due semi-annually-------------- x
do Ser F g 512.000 s-a (V 93, p 939)..............Bax
do Ser G g $170,000 s-a (V 95p 1607).........Bax
do Ser H g $441,000 ann (V 96. P 1772) -Baxc&r
do Receivers’ due In 20 seml-ann install----------Ch & R I Elev M g gu due 550.000 yrly red par.-O*
Consol Ind Coal 1st M g Int gu red 110 s f —G.o*&r
‘Chicago St Louis & New Orleans— See Illinois Central.
‘Chicago St Paul Minn & Omaha— Common stock-----Preferred stock non-oum Including scrip (see text) - .
Ch St P & Minn 1st M gold Elroy to L St C ass’ d.zo*
St P A Sioux City 1st M gold 510,000 per mlle-Ce.zo
Nor Wls 1st M Lake St C to near Spooner ass’d Ce .zo*
Superior Short Line 1st M 51.500,000 ass— Un.zo*
'O St P M & O M 530,000,000 (515,000 p m ). Ce.zo*
do
do
consols Interest reduced-----bcben gold 52,000.000 "stamped” g; text-Cexc*&r*
Chicago Terre Haute & S E— Stock-------------------------

M ile s
R oad

D a te
B onds

Par
V a lu e

Amount
Outstanding

1912 $1.000&c $20,000,000
1,905,000
1,000
1881
1.000&C 11,000,000
1884
150,000
500 &o
1877
450,000
1885 1,000 &o
1,000 5.500.000
1894
1,000 3.525,000
1899
115,000
1,000
1899
1,000 5,411,000
335 1902
7,500,000
1914
500 &o al2.965.000
363 1910
453,600
1,000
1911
1911 5 & £ bl2.400.790
3,390.000
$1,000
1907
944,000
1,000
1907
1,106,000
1,000
1908
650.000
1,000
1907
1,855,000
1,000
1909
4,050,000
1,000
1910
50,000
1,000
1911
252,000
1,000
1911
1,000 3,910.000
1912
1 000 3.528.000
1913
1,000 2,898,109
1915
450,000
1,000
1904
1,000 2,500.000
1905

292
998
12
113
351
282

177 1878
607 1879
80 1880
1895
1880
1880
1912

100
100
600 &c
1,000
1,000
1,000
1,000
1,000
,000 &o
100

Rate
%
5
5
5
7

6

g
g
g
g

When
Payable

J & J 15 Jan 15 1932

O Oot 1 1921
A
A & O Apr 1 1934
.1 <So I) June 1 1927
J & J July 1 1925
J & J Oot 1 1919
J A J Jan 1 1949

5g
5g
6 g J
5g M
6
4/4 g M
J
4
4/4 g F
5g J
4g J
M
6
4M F
4/4 g A
4/4 g M
5g J
4/4 g F
4/4 g J
5g J
5
M
5g A

5g

J

18.559.087 7 In 1915 F
11.259.912 7 In 1915 F
778,000
6g M
0,070.000
6g A
J
6
572,000
M
1,500.000
5
J
17,533.000
6
3,734 000
3/4 J
11,200,000
5g M

’ 250,600
5
4 1898
Bedford Belt first m ortgage, not assum ed------------z
— Includes a $1,965,000 and b $2,545,840 inltreas. or pie dged a s collator al June 30 1 915.

Last Dividend
and Maturity

J

P la c e s W h ere In ter es t a n a
D iv id e n d s a re P a y a b le

Jan. 1916 not paid
First Nat Bk, New York
do
do
do
uo
do
do
do
orPhil*
do
orPhil*
do
do
do
do

& J July 1 1919
& N May 1 1952
Aug 16 1916
do
or Europe
A S Mob 1 1934
Co’s office. Chicago
& J July 1 1939
New York and London
A A Feb 1 1941
Eqult Tr Co, NY; & St L
J Jan 1 1927
A
First National Bank, N Y
A J Jan 1 1937
Bankers Trust Co, N Y
& S Mar 1 1938
do
do
& A Aug "16-Feb ’ 17
First National Bank, N Y
A O To Oct 1919
do
do
A N To M ay 1925
A
J July 16-Jan ’21 U S Express Co
A A Aug ’ 16-Aug ’26 First Nat Bank, N Y
do
do
& J July 16-July '27
do
do
A J July'16-July ’23
A S To 1925
First Tr & Sav Bk. Ohio
A O Oct 1 *16-’24
June 1915 coup not paid
A D June 1 1935

A Feb 21 ’ 16, 3/4 Otfloe 111 B’ way, N Y
do
do
A Feb 21 '16, 3/4
do
do
N May 1 1918
do
do
A O Apr 1 1919
do
do
J Jan 1 1930
A
A S June 1 1930
do
do
A D June 1 1930
do
do
A n June 1 1930
do
do
s Mch 1 1930
A
A

A
A

A

j July 1 1938

Committee for Consol. Indiana Coal Co. 1st M . 5s.— Mortimer N. Buckne equipment and $90,612 for sundry items, theroby increasing tho deficit
(Chairman); Herbert M . Morse. 26 Broad St., Sec.; New York TurstCo. for the year to $1,604,694.
OFFICERS.— Chairman, T . M . Schumacher; Chiof Exec. Officer and
depositary. Stewart K. Smith o f Chicago was on July 14 1915 appointed
receiver of Consol. Ind. Coal Co. V. 100, p. 1921; V. 101, p. 2)0. 616. 1st V .-P., J. E. Gorman; V .-P ., A. C. Ridgway; V.-P., Sec. & Treas., Geo.
II. Crosby, Chicago; V .-P ., Asst. Sec. & Asst. Treas., J. J. Quinlan. N. Y .
Keokuk A D ps Moines, see that company’s caption below.
plan.—-The financial plan of the Amster stock committeo, dated Apr. 5 office. Bankers’ Trust Bldg.
.
Board.— As reorganized in 1915 (V. I0 l, p. 1013, 1092, 1272, loo2):
1916. was in V. 102, p. 1435. On May 16 the cash subscriptions thereunder
aggregated $9,500,000. V. 102. P- 1895. A now p la n W t l.o stock and J. G. Shedd, Chicago. Chairman; N. L. Amster, Boston, Chairman of
Exec. Committee; Francis L. Leland. Edward F. Carry, Ohas. Hayden,
debenture interests was proposed in M ay 1916. V . 102, p. 1895, 198b.
CAPITAL STOCK.— The $71,370,900 of the $74,482,523 capital stock W . J. Matheson, \V. E. Roosevelt, W . B. Thompson, John B. Morron,
deposited under the Ch. U. I. A Pac. Railroad collateral trust bonds was New York: E. D. Ilulbert. O. G. Dawes, Nathaniel French. Davenport,
sold at foreclosure on Dec. 22 1914 and distributed among the RR. bond­ la.; J. W. Burdick, Pittsburgh.— (V. 102, p. 1625, 1811, 1895, 1986, 2166,
2253.)
holders per plan V. 99, p. 1129, 1908.
CHICAGO ST. PAUL MINNEAPOLIS & OMAHA R Y.— (.See Map Chi­
Report of I. S. C. Comm, on old management. V. 101, p. 613.
cago
A North Western.)— ROAD.— Elroy, Wls., to Omaha, Neb., 593 miles;
DIV’S— 11003. ’04. ’05. ’06. ’07. ’08. ’09. ’ 10. ’ l l . ’ 12. 1913. None
other
lines, 1,160 m.; total. July 1 1915. 1.752 miles, of which 1.683 are
P e r c e n t.-/ 7
8 M 7.88 6 5 K 5 H 5 K 4M 6 h 5M
5
since.
owned anil 70 miles leased. V. 69, p. 1147.
BONDS.— Of the general 4s of 1898, those unissued are available us fol
HISTORY.—
This was a consolidation July 1880 of the Chicago St. Paul
lows: 514.900,000 at not over 51,000.000 per annum for permanent Improve­
& Minneapolis, the North Wisconsin and the St. Paul & Sioux City.
ments and additions, inol. equipment; Bankers Trust Co N Y . and BenJ
In
November
1883 Chicago & North Western Ry. purchased control,
Strong Jr., trustees. Abstract, V. 66. p. 522; V. 78, p.228, V. 80. p. 272.
The collateral trust gold 4s of 1902 (524.000.000 authorized) are^secured viz., $9,320,000 common and $5,380,000 preferred.
STOCK.— Authorized common. $21,403,293; preferred, $12,646,833.
by deposit of all stock of Choo. Okla. A Gulf RR. V .74 p.775. 829. 936. 1356.
Held bv the company June 30 1915. common stock and sorlp. $2,844,207:
FIRST A REFUND. 4% BONDS OF 1904 ($163,000,000 A U T II. ISSUE).
A 1st Hen (elthor directly or through pledge o f entire issues of bonds o f the preferred stock and scrip. $1,386,921. Preferred stock has a prior right
companies owning the same) on terminal property in St Paul, Minneapolis to non-cum. dividend of 7% . but com. Is never to receive more than pref.
and Kansas City, new equlpt and shops at Silvio, near East Moline. III., and
DIVS.—
1 ’93-’96. ’97. ’98. ’99. ’00. ’01. ’02. ’03. ’04. ’05-T5. 1916.
on railways aggregating 1,179 miles; also a Junior lien subject to existing Common____j None
2
2 3 14 5
5
8
6
6 7 y’ly
3/4
mortgages on all the other lines or the system o f the Railway company .aggre­
BONDS.— In April 1911 the $1,500,000 Superior Short Line Ry. 5s held
gating. exclusive o f leased lines and trackage, 5,683 miles. See V 78. In the treasury were sold. V. 92, p. 954, 1310. Ch. St. P. & Minn. 1st 6s,
p. 228, 234; V. 79. p. 1716, 2206; V. 84. p. 219; V. 85. p. 98. The deed of due 1918, and North Wise. 1st 6s. due 1930. are exchangeable at option of
trust forbids the creation of a Junior mortgage without the consent of the holder at any time, $ for $. for consol. 6s. V. 68, p. 521; V. 77, p. 2389.
holders of all tho Ref. M . 4s. V. 87. p. 1089, 1419; V. 88, p. 623, 822; Of tho $11,200.000 outstanding debentures. ($15,000,000 auth.), $9,200,000
V. 89. p. 666; V. 90, p. 108, 236, 1170, 1424; V. 91, p. 1766; V. 93, p. 1667, are ‘ plain” and $2,000,000 are “ stamped as subject to income tax. V.
1785; V. 99, p. 1748, 1831; V. 100, p. 900.
101. p. 1806. Any increased mtge. (except for extensions) must secure
The $20,000,000 20-year 5% debentures of 1912 must bo secured by any debentures. V. 94, p. 278, 487, 1316; V. 95. p. 812; V. 98, p. 1421, 1556;
new mortgage equally with the bonds thereunder. V .94,p.206. 278, 1448. V. 98, p. 386; V. 101, p. 129.
The $7?600,000 6% collateral notes dated Feb. 16 1914 are secured by
EARNINGS.— For 10 months ending April 30:
deposit of $9,989,000 Chic. R . I. & Pac. Rv. First & Ref. M .4 % gold bonds,
Gross.
Net.
Charges.
Bal.,Surp.
?l 780 000 St. Paul & Kan. City Short Line R R . 1st M . 4/4 % gold bonds
.......................$16,724,021 $5,083,987 $2,520,052 $2,563,955
(guar. prin. & Int. by the Chic. R. I. A Pac. Ry.) and $1,965,000 Rock 1915-16
i
9
i
4
i
5
i5.42o:563
4
,
377,245
2
,
410,793
1 ,966.452
Island Arkansas & Louisiana RR. 1st M . 4 /4 % gold bonds (guar. prin. &
Int by the Chic. R. I. & Pac. R y.). These notes wero extended in heb.
REPO RT.— For year ended Juno 30 1 0 V . 10h p. 919, 945^ ^
1916 as receivers’ obligations to Aug. 16, but with no lien on road. V . 102,
Total operating revenuo_______ - ____$17.841,348 $18,210,083 $16,993,005
P'Peoria RV98Term?nm 1st 4s (51.500,000 auth.) guaranteed Jointly with Operatmg expenses................................ 12,107,598 12,834,117 11.887,461
Chicago & Alton, are subject to call at 102/4 after July 11916.
As to Ohio. R. I. & Pao. Elevator mtge., see V. 79. p. 2590: V. 82, p. 750.
Not operating Income_______ ___
$5,733,750 $5,375,966 $5,105,543
As to Consol. Indiana Coal 5s. interest guar.: but Int. and sink. fd. In de­ Total net i n c o m e - . . . - - . - - - - - - - - - - - $5,069,382 $4,732,508 $4,504,272
fault; see V. 80. p. 2401, 2623; V. 100, p . 1921^guaranty . V . 82 . p .1 4 9 9 . Interest on bonds----------------------------- 2,152,313 2,9q7 ‘ q2o
^’noo’n^A
Rock Island-Frlsco Terminal Ry.5s.guaranteed Jointly, V .8 4 p .569,748. Rentals and miscellaneous--------------695,984
1 onon ol
Dividends on common stock (7 % )—
1 298,934
1,298,934
1,298,934
Rock Island Omaha Terminal R y., see V . 98, p. 1994; V . 99. p. 1828.
Dividends on preferred stock (7 % )-787.976
787,976
787,976
ROCK I. A R K . A L A . 1ST M . 4 HS.OU AR. P . A I., 530,000.000 A UTU.
A direct first lien on 363.86 miles, with trackago rights over 37.89 miles,
Not surplus for y e a r . - - . . - . - - - - - - s r . $132,775 d ef.$65,295 sr.$192,023
and on equip. V. 90, p. 626, 699, 1161. The $453,600 R .I . Ark. & La.
OFFICERS.— Marvin Hughltt, Chairman of Board; Pres., Jas. T .
notes are also guaranteed by C. R . I. A P. V. 93, p. 34o, 469.
Clark; V .-P ., S. A. Lyndo; Sec., J. D. Caldwell; I roas., A . S. I’ lorce.—
ST. />. & KANSAS C IT Y SHORT LINE 1ST M . M S , GUAR. P. & I (V. 101, I). 129, 919, 945, 1806, 1885; V. 102, p. 608.)
A direct first lion on about 183.22 miles of road. V. 92, p. 526, 593;
CHICAGO TERRE HAUTE & SOUTHEASTERN R Y .— (SeeM ap.)—
V. 93, p. 1196, 1259; V. 94, p. 1056; V. 97, p. 236, 1114.
Owns Chicago Heights, 111., to Westport, Ind., 290.57 in.; Blackhawk to SulFINANCES.— Capitalization Chic. R . 1. & Pac.Ry. per mile June 30 llvan, Ind..18.52 m.: Bedford to Oolitic. Ind., 4.19 m.; 11 branches, 46.80 in.;
1915: Stock, $10,126; bonds, including equipment trusts, $36,268.
trackage Blue Island Yard to Chicago Heights, 111., 12 47 miles: track­
EARNINGS.— 10 mos., (1915-16--Gross, $60,227,580; not, $16,085,519 age to Union Depot. Terre Haute, Ind., .30 miles; total Juno 30 1916,
July 1 to April 30.
\1914-15.-Gross, 57,435,320; net, 14.283,159 372.85 miles. Incorp. In Indiana and Illinois in Nov. 1910 as successor to
the Southern Indiana Ry. and the Chicago Southern Ry. (both foreclosed),
For half-year onded Dec. 31 (the best half) showed:
per plan in V. 91, p. 337. 333. Possession taken Jan. 1 1911 (V. 92. p. 59).
r~
1915.
1914.
I
1915.
1914.
On Aug. 1 1913 mado
Oper. r e v ..$38,589,167 $38,237,698 Tot. not in c..$ 8 ,775,676 $8,713,812 Has also acquired the Bedford Belt Ry.
8,162,013 99-yr. lease with tho Balt. A Ohio Chicago Torm. R R . for uso of 12.47
Net aft.tax. 8,085,605
7.985,291 Charges------- 7 ’£75,589
Other incomo
690,071
728,521 [Surplus
900,087
551,799 miles through Chicago Heights north to Harvey Junction hi tho "Chicago
I OharKos hero cover tho interest onfall funded debt, on the debentures, Switching District.” — V. 97, p. 1110.
&c. (but not improvements or principal of car trusts); also an accrued charge
STOCK.— The $4,300,000 com. stock, except shares necessary to qualify
of $275,100 on account of interest upon first cost of Trinity A Brazos Valloy directors, have been placed In a voting trust until Deo. 24 1920, unless
Rv undor contracts which aro now under consideration by tho Court, and sooner terminated, as provided In the agreement. Roy 0 . Osgood, Frank
the principal and Interest o f tho Trinity A Brazos Valloy equip, notes, F. Taylor and Geo. A . Jackson, voting trustees.
although no payments had been made on same since Juno 29 1915. V.
BONDS.— The new “ flrstand ref.” M . Is a first lion on about 114 miles
102, p. 885.
and a second (consol.) mortgage on the remaining 246 m. ownod. V . 91,
1914.15, V. 101,’ p.
1710.
p. 337: V. 92, p. 596; V. 94. P. 1118.
_
,,
REPORT.- -For year
„ ----------*
-OldBasls-New B a s i s----------Purposes for which $20,000.01)0 First and Refunding Bonds w e r e Issuable.
Issued under plan [of which $1,979,000 pledged Tor loans). -.-$0,334,000
Av&rageeimiles ^Une 3^~I" ^ ^ 8 * 3 3 0
191**8*,205 " “ S t e
Reserved to retire So. Ind. Ry. and Bedford Belt 1st M. bon ds.. 7,787.000
Reserved under careful restrictions for extensions, additions, lm18,824,651 * 19,777,431
•18,829.816
« * * «
n 4 m $
provement8, acquisition of sub-company stock and bonds. &o. 5.879,000
5,159.459
5,073.826
5.512,579
Mall, express, &c--------- 5,141,121
The Income bonds dated Dec. 1 1910, $6,500,000, boar lntorest from
Dec. 1 1912 at 5% per annum from net earnings (determined as provided in
Total gross earns. .. $70,947,890 $68,675,842 $68,208,113 $71,364,935 the mortgage), payable If earned, but cumulative to extent not paid. The
Operating expenses... . 53.521,615 51,635,820 50,999,946 52,504.102 Incomes have at all stockholders’ meetings one vote for each $100 par valuo,
the condition and manner of casting such vote being fully <tated in tho mtge
Net earnings ...........$17,426,275 $17,040,022 $17,208,167 $18,860,833
Div. on Incomes, 1% . semi-annually paid Sept.1911 to Mar. 1913 incl.:
Oner inc lafC'taxes)..$14,039,895 $13,703,752 $13,718,061 $15,722,818 I H % paid Sept. 1913. None since. V. 97, p. 298.
Other I n c o m e - . . . . . l - 1.367:916
1.836,209
1,229.528
2,089,228
Loans secured by $1,979,000 “ First A Ref. bonds, $1,480,000.
EARNINGS.— For 10 mos. ending April 30 1916, gross, $2,144,256,
Total net income___ $15,407,811 $15,539,962 $14,947,589 $17,812,046
I n t e ^ l r e n t a l& c ..--$ 1 6 ’,142.488 $15,089,341 $14,496,968 $13,753,691 against $1,874,069: In 1915. net, $521,687, against $354,558.
REPORT.— For year ending Juno 30 1915 In V. 101, p. 1185, showed:
Dividends____________
(1,871,763
1,871,763
3,743,525
1914-15. 1913-14.
5%
2/4 %
2/4 %
1914-15.
1913-14.
Gross earns—$2,186,268 $2,170,289 Taxes and ren ts,.$165.268 $165,424
Pal., sur. or def___ def.$734,677df.$l,421.142df.$l,421.142sur.$314,830
Net eanrings.
$573,837 $382,983 Fixed bd.,&c.,int. 654.009 646,653
265.593 480.380
The i hartered accountants report that in their belief an additional 8779.­ Hire equip,&c.
$839,430 $863,363 Balance, surplus. $20,153 $51,286
406 should be charged against tho earnings for 1914-15 for depreciation of T ot. net fnc—




Ju^E, 19. G. |




RAILWAY STOCKS AND BONDS

37

[For

M ile s
R oad

R A IL R O A D C O M P A N IE S
a b b r e v ia tio n s , & c ., s e e n o tes o n f ir s t p a g e]

C h ic a g o T e rre H a u te & S E ( C o n c l u d e d )—•
Sou Indiana 1st M g (see text) not assu m ed -U P .zc’
1st and rel M S20.000.000 g oall 107 H — IC .xo’ Ar
Incom e M $6,500,000 call par (cum aft 2 y rs)___FCx
Equipm ent gold bonds due $-10,000 sem i-a n n ..
do
do
(locom otives) $10,000 ann_____
C h ic U n ion S ta t io n — 1st M g gu pAi ref. IC.yc*,
Chicago Utilities— Common stock 322,500,000-Pref stock 5 % non-cum $30,500,000___________

243
360
360

do Ser B g red par $4,000,000____ Usm.xc*Ar<
Chicago & W abash Valley R y— See C hic. Ind. A Lot Isvllle
Chicago & W estern Indiana— Stock (see t e x t )--------53
General m ortgage gold sink fund subj to oall 105-xo'
Cons M $50,000,000 g ............................... IC .xo*A r'
First and R ef M $200 ,0 0 0 ,0 00 .................. Ba xc* & r<
CoIIat trust notes g sec’d b y 1st A ref M red 101- B.N o t e s ______________________________________________
Chicago & W est M ichigan— See Pere Marquette R R
Chicago W isconsin & M innesota— See Wisconsin Cem
C h o c & Mem— C h o c O k la & Q u lf — Sec C k R I & 1
91
Cincinnati Hamilton & Dayton— B o n d s , A c . , U n d i s t i rbed—
59
Second (now first) m ortgage g o ld ____________ Fxo'
General mortgage $7,800,000 gold V . 102, p. 2077xo*
59
D ayton & M ich igan— Seo that com pany
N e w B o n d s o f B . & O . R R . a s p e r P la n —
B & O R R T ol-C in D iv M $35,000,000 call 1 0 2 H -O ld B o n d s (a) Included in plan,
(b) N ot so inclu ded
95
167

aPlqua A T roy 1st M $250,000 gold guar p & i ..x o

D a te
B onds

Par
V a lu e

_____________________________ 1 7 H

6

6

0

%

W hen
P a y a b le

L a st D iv id e n d
a n d M a tu rity

P la c e s W h e r e I n te rest a n d
D iv id e n d s a re P a y a b le

Feb 1 1951
Deo 1 1960
Deo 1 1960
T o Apr 1 1923
July 1 1923
July 1 1963

1st N at B k, N Y or Che
do
do
do
do
do
do
do
do

A

1912
1912

A

A

1882
1902
1912
1915
1915

100 5.000,000 6 in 1915
5,055,000
1,000
6 g
1,000 &o 44,945,000
4 g
1.000 Ac See text
5
1.000 Ac 12.935,000
1,000,000
5

Q - -M 31
Q— M
J A J
M A s
M A s
M A s

A
<5c D
text.
A O
A J
A J

O Apr 1 1942
A pr 1 1942

April 1915 coup not paid

M a r3 1 '1 6 ,l
Deo 1 1932
July 1 1952
Sept 1 1962
Sept 1 1917
Sept 1 1917

Chloago
J P Morgan & Co, N Y
III Tr & S nk.Chlo; ANY
N Y , J P M & C o, & Chic
.1 P Morgan & C o , N Y
C hicago, Cent Trust Co

1903

1,000

1,150,000

4 g

A

N N ov 11923

N o v '14 coup not paid

1887
1892

1,000
1,000

2.000.000
3,000,000

4 >4 g J
J
6 g

A

■TJan 1 1937
D June 1 1942

J P Morgan A Co, N V
All coupons paid Juno T 6

A

A

M

A

16,250,450

1916
1,000
1,000
$ A £

1,200,000
4
3.500,000
5 g
9.177.000
4
17,529,000 See text
l.OOC
928.00C
5
250.000
1,000
4 g
1,000
1,150,000
4 g

6 year ly

B O N D S.— The General M tge. bonds are drawn at 105 and Interest.
O f the consol. 4s o f 1902 (auth. Issue $50,000,000), $5,055,000 are re­
served to retire general 6s. V. 87. p. 36, 1604, 1603; V . 88, p. 100, 374;
V . 92. p. 394; V. 93, p. 1668: V. 97, p. 1425: V. 98, p. 235, 452.
Of the 1st & R ef.b on d s of 1912 ($200,000,000 auth. Issue), with Interest
not to exceed 5 % . $50,000,000 are reserved to refund existing bonds,
$50,000,000 for additions and improvem ents to the Belt division, including
Chicago Union Transfer R y ., for $4,400,000. and $100,000,000 for now
terminals and other im provem ents. There aro $18,497,000 o f these out­
standing, $17,247,000 being pledged under tho 2-year 5 % notes o f 1915
(see below) and $1,250,000 held in the interest o f the B elt R y . N o addi­
tional First & R ef. bonds can bo Issued until the aggregate annual rentals
payable above all expenses o f m aintenance, operation and taxes shall equal
tho interest upon all tho outstanding bonds o f the com pany, including tho
bonds proposed. V. 101. p. 693, 448; V. 100, p . 1671.
T h e $12,935,000 2-year 5% collateral gold notes o f 1915 are a closed Issue,
socured by deposit o f $17,247,000 First & Rof. 5s. A further $1,000,000
note Issue was sold Sept. 1 1915 In Chicago. V. 101, p. 693, 448.




R a te

F
J
See
A
J
J

1892
1891
All 1909
All
1909
1910
S 1899
91 1903

6

A m oun t
O u tsta n d in g

$1,000 $7,534,000
4 g
1.000&O 4,244,000
5 g
100 &o 6,336.055 See text
1.000
5
610,000
80.000
5
1,000
1.000 A c 30.000,000
4H g
18,794,000
30,475,000
1,000 A c d 5 .999,900
5 g
4.000,000 See text
1,000 A c

1901
1910
1910
1913
1913
1915

O F F IC E R S , A c.— Pres., M . J. Carpenter; V .-P res., E . K . Bolsot; T reas.,
F . J. Lawlor. Directors: M . J. Carpenter. E . K . B olsot, Chas. Porter,
J . 8 . Field, A . W . Howard, F. O . W etm ore, John T . Beasley.— (V . 96. p.
419; V. 97, p . 298, 1024,1110; V. 99. p. 894, 1048; V . 101, p. 1092.1185.)
C H I C A G O UNION S T A T I O N C O ,— Incorporated in Illinois. Has
acquired extensive station and terminal properties in Chicago
T ho entire
developm ent extends for 11 blocks. In M a y 1916 tho construction o f tho
com p a n y’s facilities was in progress. Capital stock, auth., $3,500,000;
outstanding. $2,800,000, held one-fourth each by Pennsylvania C om pany,
Pitts. Cin. C hic. & St. Louis Ity., Chic. Burl. & Quincy R R . and Chic.
M ilw . & St. Paul R y . T ho station will bo used b y the four proprietary
com panies and the Chicago & Alton R R . A city ordinance was passed
M ar. 23 1914 and accepted b y the com pany Sept. 23 1914, granting the
right to construct and operate a passenger station In that city
T ho $30,­
000,000 1st mtge. bonds are part o f an authorized issuo o f $60,000,000
and were issued for expenditures in acquiring properties and for im prove­
ments, including the erecting o f a m odern passonger station. T hey aro
guar. prin. & int. b y tho four proprietary com panies. R ed. at 105 on or
after Jan. 1 1921. Seo V . 102, p. 608.
CHICAGO UTILITIES CO.— Incorporated In Maine April 9 1912 to
succeed (per plan V. 94, p. 938. 939, 1386; V. 94, p. 350) the Illinois Tunnel
C o . and Chicago Subway C o. foreclosed. V . 94, p. 911, 1056, 1118; V . 96,
p. 652. 1089. Reorg. per plan o f O ct. 2 1911 (V . 93. p. 938. 939. 1388.).
Com pany acquired (either directly or otherwise) all the capital stock and
m ortgage notes o f the Chicago Warehouse & Terminal C o. and tho Chicago
Tunnel C o. (purchaser o f property o f Illinois Tunnel C o .) and tho Illinois
T elep . A Tefeg. C o. T he subsidiary com panies own property free o f In­
cumbrances except certain mortgages held by the Utilities C o.
There is owned by subsidiary companies 60 miles o f tunnel, equipped with
narrow-gauge electric m otors and cars, designed for the transfer o f freight
between the various railroad terminals in the city o f Chicago, and to and
from the downtown business district and between business houses: s e e V . 86.
p . 720; V. 87, p . 1357. In 1916 city authorized tho com pany to soli tele­
phone system w ith its 8 exchanges to tho Chicago C ity Telephone C o. Seo
V . 93, p. 938; V . 96, p. 652; V. 100, p. 1751; V . 96, p. 1700; V. 99, p . 1748;
V . 100, p. 1831; V . 101. p . 369. On April 1 1915 tho coupon on tho 1st 4s,
Series A , was defaulted. V . 100, p . 1256, 1751.
B O N D S .— O f tho $24,000,000 new 1st 5s authorized, $20,000,000 Sor. A
rank ahead o f tho $4,000,000 Ser. B (5 % non-cum . incom es for first 5 yrs.) _
E A R N IN G S .— In 1914 no Income from subsidiary com panies. For
year 1913: Gross, $789,207; operating expenses, including taxes, $871,413;
o p . d e f., $82,207; other Incom e, $19,629. See V . 101, p. 369.
D irectors.— F . S. P eabody and Spencer Otis, Chicago; Samuel M c R o b erts. N ew Y ork; R . J. Dunham , C . W . H otchkiss, C hicago, and S. W .
T ra cy . Pres., C . W . Hotchkiss; V .-Pres. and Treas., S. W . T racy: S ec.,
J. C . P ayton. Chicago office. 754 W . Jackson B oul.— (V . 101. p. 369.)
C H I C A O O & W ES T E R N IN DIA NA R R . — ( S e e M a p . ) — Ownsa valuable
terminal system affording entrance into Chicago to the roads named below.
Its lines extend from Dearborn Station, Polk S t., Chloago, to Dolton, 17 m .;
also to Indiana State line, 10 m .; to Cragln, 21 m ., and to South Chloago,
6 m .; total, 51 m .; total track, Including 2d, 3d, 4th traoks and sidings, 544
m .; also owns over 1,200 acres of real estate, passenger and freight yards,
warehouses, elevators, & c.
L e a s e s . — T h e station terminal properties, including the “ Dearborn Sta­
tio n ” and Its connecting tracks, are used for freight and passenger businoss
under 999-year leases (which havo been In force for m any years) by tho
follow ing com panies, which own all the capital stock o f the C hicago &
W estern Indiana R R . C o. ($1,000,000 each), v iz.: C hic. & Eastorn Illinois
R R ., C hic. Ind. & Louisville R y ., Grand Trunk W estern R y ., W abash R y.
and Erie R R . C o. T h o A tch . Topeka & Santa Fe R y . C o. also usos these
tacks and station under a long-term lease at a fixed annual rental, plus a
proportionate m aintenance, f e e .
T h e “ Belt R ailw ay” division, Including the clearing yard upon which
the First & R ef. M . bonds (m ostly pledged to secure tho 2-year 5 % notes o f
1915) are a first lien, is operated under a 50-year exclusive lease by tho Belt
R y . C o. o f C hicago, all o f whose stock Is owned b y tho following 12 roads:
Pennsylvania C o ., A tch . T o p . & Santa Fe R y . C o ., Illinois Central R R .
C o ., C hic. Burl. & Quincy R R . C o ., C hic. R ock Isl. & Pacific R y . C o .,
C hes. & Ohio R R . C o. o f Indiana, M inn. St. P . & Sault Ste. M arie R y . C o .,
C h ic. & East. III. R R . C o ., C hic. Ind. & Louisvillo R y . C o ., Erie R R . C o .,
Grand Trunk Western R y . C o ., W abash R y . C o . T h e Belt R y . C o . is
m erely an operating com pany, owning no m ileage. T he leaso to the Belt
R y . C o . provides for an annual rental, o f which at least $828,000 is payable
directly to the trustee o f tho First & R efunding M tge. in m onthly Install­
m ents, this paym ent to bo Increased from tim e to tim e b y an amount oqual
to tho Interest on all obligations Issued for Improvements to the "B o lt
D iv ision .” T h e operating com pany must also pay the taxes and Interest
on all bonds hereafter Issued for im provem ents or additions to said div.
D IV ID E N D S.—
f '95. '96. '97 '98. '99 |1900 to M a r' 16.
Peroent

[Vol. 102

RAILWAY STOCKS AND BONDS

38

O
M A N
J A J
See text
J A D
M A N
M A N

1959

N ew Y ork

Apr 11942
May 1 1941
July 1 1959
July 1 1039
T o June 1 1920
Nov 11939
N ov 1 1923

O ct 1914 cou p not paid
N o v 1914 coup not paid
See text
Jan 1915 coupon not paid
Un Sav Bk & Tr Co. Clu
N ov 1914 coup not paid

C I N C I N N A T I F I N D L A Y & F O R T W A Y N E R Y . — Owns Findlay, O .. to
Ft. W ayne, In d ., 80 m .; also connecting link with the Cin. H am. & D. from

Oelphos to M andale, 11 miles; sidings, 12 miles. V. 77, p. 88, 694.
Leased to Cin. Ham. & D. for 99 years from N ov. 1 1903, with privilege of
renewal for like periods forever. V. 78, p. 286. S tock, $1,250,000. all
owned by the Cin. Ham. A D ., which guarantees bonds, prin. and Interest.
VItge. is limited by 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 o f guaranty. V . 78, p. 701. T he coupons due N o v . 1914 werf
defaulted. V . 99, p. 1 4 5 1 — (V . 90, p. 697; V . 99, p . 1451. 1909.)
C o m m i t t e e f o r C i n c i n n a t i F i n d l a y A F t . W a y n e lsi M . 4s.— F. N . B. Clos'
(Chairm an), P . D . B ogue, Sec.; Bankers’ Trust C o ., N . Y ., depositary
V. 99, p. 1909.

C IN C IN N A T I H A M IL T O N & D A Y T O N R Y .— T ho systom as con sti­
tuted June 30 1915 included 1,003 miles o f road. O f this thoro is included
in tho reorganization o f 1916 tho main linos between Cincinnati and T oled o,
200 miles, and tho main line branchos, viz.: T ontogan y to N orth Balti­
m ore, Bowling Green R R ., 19 m .; Deshler to Findlay, 18 m .; and Hamilton
to East M iddlotow n, 13 m .; and also for tho Piqua & T roy branch, 8 m .,
and that portion o f tho D ayton and Wollston branch lino botweon D ayton
and Ironton Junction, 110 m ., a total o f 368 milas o f road, o f which 141
miles is loased from tho D ayton & M ic h ., which see.
O f tho remaining miloago, tho Cin. Ind. A W estern, 361 m ., has been
separately reorganized; seo that com pany below. Other branchos loft for
soparate treatment aro tho Cincinnati Findlay & Ft. W ayno (which seo
abovo), 91 in.; Cincinnati D ayton & Chicago D iv ., Dolphos to D ayton ,
95 m ., and other linos.
P L A N .— T ho plan, dated Fob. 15 1916, was declared oporatlvo in April
1916. Seo V . 102. p. 1059, 1316, 1895. It provides:
S e c u r itie s to R e m a in

U n d is tu rb ed .

D ayton & M ichigan R y. Consol. M . 4 H % . duo Jan. 1 1931___ $2,728,000
Pref. stock, guar. 8 % p. a. under leaso to C . II. & D . R y ___ 1,211,250
C om m on stock, guar. 3 M % p. a. under aforesaid leaso______ 2,396,950
Cincinnati Hamilton & D ayton IIR .—
2d M . 4 y ? % 50-ycar gold bonds (now 1st M .) duo Jan. 1 1937- 2,000,000
Gen. M . 5 % bonds, duo Juno 1 1942 (all coupons paid Juno
1916, V . 102, p . 2077).................... ............................................... 3.000,000
N e i o S e c u r i t i e s — B. A O . R R . C o . T o l e d o - C i n c i n n a t i D i v i s i o n B o n d s .
T ho B. & O. R R . C o. will acquiro all tho securities to lx) issued b y tho
now railroad com pany; that is, to acquiro tho main lino between Cincinnati
and T oledo, and branchos a bovo described (subject to existing said securi­
ties), and will issuo, as to tho property, its own direct obligations. Tho
bonds to bo issued in oxchango for tho oxisting securities aro to mature in
1959, aro to boar 4 % interest from Jan. 1 1916 (or if from a later dato with
an adjustment o f interest for tho intermediate p eriod ), and aro to bo rodeomablo on any somi-annual interest dato, in whole or in part, at 102 Yi %
and interest. T ho total authorized issuo is not to exceed $35,000,000.
Thoso now bonds will bo securod by a m ortgago executed b y tho B. A O.
R It. C o. T hoy aro intended ultimately to bo a direct lion upon tho main
lino between Cincinnati and D ayton, upon tho leasehold intorost in tho
main lino from Dayton to T oledo under tho porpotual loaso from tho D ayton
A Michigan R y . C o ., upon tho branch lines ombracod in tho plan, and upon
tho oquipmont o f tho now com pany, and, in tho meantimo, b y tho plodgo
o f all tho Refunding M ortgago bonds to bo issued b y tho now com pany to
an amount oqual to tho B . A O. bonds issued.
T ho B. A O. will also recolvo (1) tho entire capital stock, and (2) A djust­
ment A Im provom ont M ortgago bonds o f tho now com pany to an amount
approved b y tho Reorganization Managers.
B. A O . R R . T o l e d o - C i n c i n n a t i D i v i s . B o n d s — $16,250,450 N o w I s s u a b l e .
Presently issuablo in oxchango for oxisting securities___________ $11,250,450
T o bo Issued for cash roquiroments o f tho plan (otlior than pur­
chase o f General M . bonds o f 1939) and purchased b y Ueorganization Managers to provide for maturing oquipmont obli­
gations, recoivors’ obligations, reorg. expenses. fm pts., A c —
5,000,000
T o bo reserved to rotiro at m aturity, or earlier, tho bonds undis­
turbed by tho plan, as abovo recited, or for acquisition o f un­
derlying stocks, branch linos, branch lino bonds, aid in refund­
ing, or for capital expenditures for oquipmont, additions and
bottorm onts, or to acquiro First A Refunding M ortgago bonds
o f now com pany issued for any o f such purposos_____________ 18,749,550
T ho B. A O. R R . C o. surrenders Purchaso-M onoy notes and other obliga­
tions aggrogating $22,695,143, oxcoptlng certain collateral (not securities o f
tho old com pany or its subsidiaries) o f tho estimated value o f $3,368,000,
which Is to bo rotainod, and provides tho cash to pay $700.86 for each oid
Gonoral M ortgago bond o f 1939 which m ay bocom o subject to tho plan.
D i s t r i b u t i o n to H o ld e r s o f E x is t in g S e c u r i t i e s O th er th a n th e B . A O . R R . C o .
A m o u n t.
E x is tin g S ec u ritie s—
N e w B .& O . 4% B on d s.
C a sh .

$7,500,000 First A R of. M . 4s, guar, b y B. A 0 _ _ 100% $7,500,000
1%
1.677.000
Do
do
not so guaranteed 85%
1,425,450 ________
17,529,000
Do
do Gon. M . bds. o f 1939............................ - a 7 0 % +
3.500.000 Cincinnati D ayton A Ironton 1st 5 s. 6 0% 2,100,000 ________
225,000 Piqua A T roy Branch 1st 4s_______ 100%
225,000 ________
Reorganization managers, Kuhn, Loob A C o.
E A R N IN G S .— 10 m os., / 1915-16____Gross, $8,695,069; not, $1,676,858
July 1 to A pr. 30.
11914-15____Gross, 7,935,653; not,
603,650
Dopositarios: (a) For First A Rof. M . bonds. Bankers Trust C o ., 14 W all
S t., N . Y ., and Union o f London A Smiths Bank, L td ., 2 Princes S t.,
London, E . C ., Eng. (b ) For General M . bonds o f 1939, Guaranty Trust
C o ., 140 Broadway, N . Y ., and 33 Lom bard S t., London, E . C ., Eng.
(c) For 1st M . bonds o f tho C i n c i n n a t i D a y t o n A I r o n t o n R l t . C o . and 1st M .
bonds o f P i q u a A T r o y B r a n c h R R . C o . , Equitable Trust C o ., Now York.
C o m m i t t e e f o r K l e y b o l t e E q u i p m e n t B o n d s o f 1905.— W ilmor Palmer, Osman
F . Roinhard, Rudolph Kloybolte. V. 99, p. 1299, 1451; V. 100, p. 1167.
C i n c i n n a t i F i n d l a y $ F o r t W a y n e 4s.— Seo that com pany above.
C in c in n a ti D a y to n A Ir o n to n
1 st 5s.— Alvin W . Krech (Chairm an);
Equitablo Trust C o .. N . Y .. depositary. V. 100, p. 473; V. 102, p. 1346.




[Vol. 102

RAILWAY STOCKS AND BONDS

40
R A IL R O A D

C O M P A N IE S

[F o r a b b re v ia tio n s. A c ., see

n o te s o n f ir s t p a g e )

M iles
R oad

Cincinnati Ind & W estern— 1st M 312,000,000
284
gold redeemable on any interest day at 105 -x E q -c*
Equipm ent trust $28,000 duo soml-an__________Eq
d o $32,000 duo s-a toA pr’21then$33,000-PeP c*
Cincinnati Inter-Terminal RR— 1st prel stk (see text) Text
Cincinnati Lebanon & Northern—
76
1st con M $1,500,000 g gu p AI end (V 75p 1398) .xo*
Cln A Musk Val—See Cleve Akron & Cincinnati Ry.
C!n New Orl & Texas Pac— Common stock $3,000,000
Preferred stock (pAd) 5 % cumulative $3,000,000-.
Equip trusts Ser O due $50,000 s-a (V 92, p 1031) Bax
E quip trust Ser D due $90,000 s-an_________________
Cincinnati Northern— Capital s to c k ----------------------206
1st M $3,000,000 gold ................................. Ci.xc*&r
Equip trusts due $43,000 ann Sept ’ 16 to ’2 5 -.k .c *
"86
Cincinnati Richmond & Ft W — 1st M gold lnt guar.o*
Clarksburg Northern RR— 1st M g red t e x t-----------------

D a te
B onds

1915
1916
1916
1902

1911
1916
1901
1915
1871
1911

Par
V a lu e

L a s t D iv id e n d
a n d M a tu r ity

P la c e s W h e re in te r e s t a n d
D iv id e n d s a r e P a y a b le

N ov 1 1965
A u g’ 16toF eb’26
15 Apr 16-Oct’26
F eb 1 1916 2 %

New Y ork
N Y , E quitable Trust C o
P cn nC oforlns onLlves,&c
Cincinnati
**

A m oun t
O u tsta n d in g

R a te
%

$2,675,000
560.000
650,0J0
825,000

5 g
6 K
5 g
4

M A
F &
A & O
F A

N
A
15
A

1.000

1,382,000

4 g

M

N N ov 11942

100
100
1,000

3.000,000 11 Inl915 J A
D J u n o l5 1916 5 X
2.453,400 5 In 1915
0— M Juno 2 1916 1 X
500.000
M&N 15 T o M a y 1921
4M
D T o June 1 1926
1,800,000
4H g J A
3,090,000 See text M arch M ar 1 1916 3 %
1 .000.000
4
J A
J Julv 1 1951
M A
430.000
5 g
S Sept 1916 to ’25
A
D June 1 1921
1,800,000
7 g J
321,000
5 g A A O Oct 1 1945

$100

Ac

1,56)
100

1.000
1.000
1.000
500

W hen
P a y a b le

A

Penn R R C o , N Y
Cincinnati
do
Bankers Trust Co, N Y
Now Y ork
N Y , Grand Central T er’ I
Guaranty Trust Co, N Y
New York and Phila
WInslow.Lanler ACo..N Y
U n T r A D epC o, Parkers­
burg. W Va
Checks mailed
36 W all Street,Now York

900.000
J A
J July 1 1916
50
6
Clearf'd & Mahoning— Stook 6% rent $1,000,000 auth
650,000
J July 1 1943
1,000
5 g J A
*26 1893
First m ortgage gold guaranteed B R & P ._G .x o*A r
Sec text M ch 25 ’ 13 3%
7,500,000
100
Cleveland Akron & Cin— Stock $12,000,000--------------W inslow,Lanler& Co.N Y
1,800,000
S Mch 1 1927
M A
500 Ac
5 g
Clev A k A Columbus gen M (now first) gold ____ o*
i s 1? 1§87
do
do
1,023,000
F A A Aug 11940
1.000
4 g
First consol, mtge $4,000,0001 guaranteed p A 1 end | .8 7 , 1900
do
do
527,000
F A A Aug 11940
1,000
4 g
1900
gold sinking fund_________j not gu aranteed.c*
Penna R R C o , N ew Y ork
1,701,000
F A A Aug 1 1948
1,000
4 g
Cln & Mask Val 1st M $2,000,000 g gu s f _____ F.o*
148 1898
100 47.027.300 See text M A S Sept 1 1910 2% Treas office . New York
Cleveland Cincinnati Chicago & St Louis— Com stook
do
do
100 10,000,000 Seo text
3— J July20 1916 I X
Preferred stook 5% non-oum ulatlve________________
do
do
590,000
M A N May 1 1920
1,000
6
O X St L & C con M drawn at 105 sink fund 1% _zo*
173 1880
do
do
6,915,000
4 g
3— 1 Aug 1 1936
1886 1,000 Ao
Gen 1st M $10,000,000 g s f not d ra w n .-C e.xo Ar
do
do
3.205,000
6 g J A J Jan 1 1934
1.000
Cl Col C A I Gen cons M ($12,000,000) g .-U s .x o * & r
391 1884
do
do
"X ’
July 1 1919
2,000.000
1.000
7
72 1869
Indian A St L 1st M In 3 series of $ 6 6 7 ,0 0 0 .. Us.zo
do
do
650.000
1.000
4 g J A J July 1 1940
62 1890
Clev Cln Chic A St L W hite W at Val D v lstg .C e .x o *
do
do
S Sept 1 1940
1,103,500
M A
4 g
500 Ao
1890
Spr A Col Dlv (Col Spr A Cln) 1st M gold ___Ce.xo*
do
do
J
Jan
1
1939
1.000
5.000.000
J
A
4
g
Cairo Division 1st M $5,000,000 gold _____ Ce.xo*
2eE 1890
do
do
M A N Nov 1 1990
9.290,000
4 g
194 1890 1,000 Ac
St Louis Dlv coll tr gold ($676,000 In s f) _Ce xoAr
do
do
<3o J July 1 1991
4.000,000
1,000
4 g J
Clncln W ab A Mloh Dlv first mtge gold ___Us.xo*
204 1891
do
do
1.0 0 0 28,579,000
4 g •J <5c 1) June 1 1993
1.021 1893
Gen M 100 years for $50,000,000 gold ____B a.xc’ A
do
do
4,161,000
1.000
6 g J A 1) June 1 1993
do
Series B ___________________________ 1,021 1893
Treas. o ffic e . N ow Y o r k
3 000,000
A A O Apr 1 1953
1.000
4 g
44 1903
Ch I A St L S L 1st M $3,000,000 gold gu.C e.xo* A
M arch 1 Apr 1 1940
5,000,000
4
Springfield D iv lien held by Peoria & East Ity _____
136 1890
” x " ser. “ A ” are J. A J .: ser. •B.” M. A S.: ser " C ." M .A N .
E s tim a te F u r n is h e d b y J . M . D a v is , G e n . M g r . f o r R e c e iv e r s o f C . 11. A

D . R y.

T he property embraced in the plan should show a surplus availa­
ble for rentals and interest, a bou t_____________________________ $1,800,000
D educting interest charges on $16,250,450 o f new B. & O. R R .
C o. bonds, proposed to bo presently issued under tho plan in
respect o f such property, and the rentals and interest charges
on tho underlying securities which are not to be disturbed
500,000
un ler tho plan, would leave a surplus o f ov er_________________
— (V. 102, p. 65. 250, 1059, 1435, 1718, 1895, 2075.)
C IN C IN N A T I IN D IA N A P O L IS & W E S T E R N R R .— Owns H am ilton,
O ., to Sprtngfiold. 111., 284 milos; also Sldell, 111., to W ost Ltborty, 77 milos;
trackago, Wost Liberty to Olnoy, 8 miles; sidings, 74 m iles. On D ec. 1
1915 succeeded to proporty o f Cincinnati Indiana & W estern R y . , foreclosed
and reorganized independently o f Cincinnati Hamilton A D ayton R y.
(which owned control o f old c o .), por plan in V. 100, p . 2084; V. 101, p . 47,
1552; V . 102, p. 250. Began business D ec. I 1915. William A . Road was
Chairman o f the reorganization com m ittee.
S T O C K — V O T IN G T R U S T .— Capital stock auth, com m on, $7,500,000
6 % non-cum . pref., $7,500,000. Par$100. T ho present issues, $5,350,000
o f each class, will bo covored b y a voting trust till D ec. 1 1920 (unless
previously terminated b y vote o f tho trustees thereunder), the voting
trustees being Frederick II. Ecker. George K . Johnson, H . F. W hitcom b.
L . Edmund Zacker and J. A . Barbey, with the Equitable Trust C o . as
agent for trustees and M etropolitan Trust C o. as registrar.
B O N D S .— In the reorganization all the old bonds were wiped out
holders paying 30% cash assessment and receiving 30% ($2,365,200) now
1st M . 5s, 60% ($4,730,000) 5 % non-cum . prof, stock voting trust ctfs.
and 60% ($4,730,000) com m on stock v . t. c. T ho now m ortgago Is limited
to $12,000,000; outstanding (see table above) $2,675,200.
An equipment trust for $560,000 was sold on account o f purchase o f 39
locom otives. V. 102. p. 521; V . 100, p. 2084; V. 101, p. 1553. In April
1916 an additional $650,000 equip, trust 5s was sold in connection with
purchase o f 660 steel freight cars and 9 steel coaches. V . 102, p. 1346, 1435.
O F F IC E R S .— Pros., B. A . W orthington; S ec.. J. G . M oore; T reas.,
D . J. Curren.— (V . 102, p. 250, 521, 1249, 1346, 1435.)
CINCINNATI IN TER-TERM IN AL R R .— Owns a road 0.6 m. In length
connecting the Chesapeake A Ohio bridge and the Cln. Ham . A Dayton
terminals. Controlled by Chesapeake A Ohio R y . Common stock, $10,000
In $100 shares. Issued for purpose of con trol. There Is authorized $1,000,­
000 of first pref. 4% cum . stook secured by m tge. to the Union Savings Bank
A Trust Co. of Cincinnati, as trustee, and rentals paid by Ches. A Ohio and
Louisville A Nashville, and subject to call on any lnt. day after Feb. 1 1915
at 105. V. 79. p. 212; V. 80. p. 1728. 2398. 2620. Rentals received for
year ending June 30 1915. $33,413; dlvs., $33,000; bal.. sur., $413. Pres.,
Geo. W . Stevens.— (V. 80. p. 2620.)
C IN C IN N A T I LEBAN ON & N O R T H . R Y ,— Owns Cincinnati, O ., to
D ayton , 56 m .; from June, to M iddlotow n, O ., 14 m .; Ilom pstoad to Clem ont, O ., 5 m .; branch, l m .; total, 76 m. V. 99, p. 1831; v . 100, p .1 3 9 .
S tock, $2,100,000, as increased Jan. 1915, all outstanding and owned by
Pennsylvania C om pany. V. 75, p. 980; V . 100, p. 53. D iv . o f 3% paid
in 1906. ’09 & ’ 10; ’ l l & ’ 12, 4 % : ’ 13, 5 % ; ’ 14. 3 % . V . 90, p. 53. O f $1,­
500.000
1st cons. 4s o f 1902, guar. p. A i. b y Pennsylvania C o m p a n y .
V . 77. p. 86: V. 98. p. 610. On M ar. 9 1915 was authorized to Issue $600,­
000 bonds to purchase the D a y. Leb. & Cin. R R . A Term inal, which seo.
Cal. year 1915, gross, $680,859: net, $87,388; other Income, $46,480;
charges, $108,608; surplus, $25.260.— (V . 100, p. 900.)
CINCINNATI NEW ORLEANS & T E X A S PACIFIC R Y. — ( S e e M a p o f
Operates Cincinnati Southern R y .. owned by city of Cln
olnnatl. Cincinnati to Chattanooga, T enn., 335 miles; trackage, 2 in. Owns
entire stock of IlarrlmaD A N. E. R y ., 20 m ., op . separately. V .7 7 ,p .1743.
In 1901 lease was extended 60 years to O ct. 12 1966: rental until O ct. 12
1906 was modified beginning July 12 1902 to $1,050,000 yearly, the re­
maining $50,000 per quarter to be deferred as It accrues and to be paid quar­
terly at rate of $40,000 yearly, with lnt. on def’ d payments at 3 % : rental
under renewal to be $1,050,000 yearly for first 20 years, then $1,100,000 for
20 years; thereafter $1,200,000. V . 73. p. 722; V . 74. d . 1251; V. 95. p.
1402. Pref. stock has no voting power. V . 74, p . 528, 829.
D IV ID E N D S .—
(1903. 1904. 1905. 1906. 1907-’ 10. ’ l l . ’ 12-’ 16.
C o m m o n ---------- -------- _% \ 2
2
6
5 X
5
8
11 y ’ly
S TO C K .— Common, $3,000,000, controlled In Interest of Southern R y .
»nd Cincinnati Hamilton A Dayton R y. V. 61. p. 26; V . 65. p. 1173.
L A T E S T E A R N IN G S .— (1 9 1 5 -1 6 ..Gross, $0,060,942; net, $2,788,353
10 m os., July 1 to Apr. 30. \1914-15.-G rass, 7,853,202; not, 2,095,266
A N N U A L R E P O R T .— For year ending Juno'30 1915, V. 101, p . 1801:
Y e a r —•
G ross.
N et.
O th . I n c . R e n ta ls , & c .
D iv s .
B a l.,S u r .
1914-15------$9,422,252 $2,241,680 $366,403 §2,142.379 $451 570 $14,143
1913-14----- 10,962.100 2.782,990 483.139 2,676,350 451,570 138,209
Dividends includo yearly $122,670 (5 % ) on pref. and $328,900 (1 1% ) on
com m on stock .— (V. 100, p. 308, 1597, 1672, 1801: V. 102, p. 1539.)

S ou th ern R y .) —

C IN C IN N A T I N O R T H E R N R R .— ( S e e M a p s N e i o Y o r k C e n t r a l L i n e s . )
— Owns Franklin, O ., to Jackson, M ich ., 205 miles; branch, Lewisburg. O .. to quarries, 1 in.; trackage (C . C . C . A St. L .). Franklin to C in­
cinnati, 38 miles; at Jackson, 1 mile. On Jan. 1 1916 C lev. Cln. Chic. &
St
1.. owned $1,707,400 o f tho $3,000,000 stock and $581,000 bonds.
Equip, trusts, see V. 101, p. 1713. Divs. M ar. 1910 and 1911, 3 % ; 1912
and 1913, I X % ; 1914 and 1915, none; 1916, 3 % M ar. 1.
R E P O R T .— Report for cal. year 1915, V . 102, p. 1436.
Y ear—
G ross.
N e t.
O th erln c.
I n t ..A c .
S u r p lu s .
1 9 1 5 .............................$1,628,641 $352,212 S11.224 $172,761 $190,675
1914 ......... ................... 1.471,472 185,945
7,213
164.486
28,672
— (V . 102. 608, 800, 1436.)

CINCINNATI RICHMOND & FORT WAYNE RR.—Owns from Rich­
mond. Ind., co Adams, Ind.. 86 m.; leases 5 m. of P. Ft. W.f A C. Now op­




erated (Jan. 1915) by Grand Rapids & Indiana R y . Rental, net earnings,
ln t. Is guaranteed b y the Pennsylvania Co. and Pitts. Cln. Chic. A S t. L Co.
Jointly (the P. C. C. A S t . L . taking the place of the Cln. Ham. A Dayton
in 1888). Stook, $2,186,600 (par $50), of which Penn. Co. owns $1,277.­
000.
Y e a r e n d i n g D e c . 31—
G ross.
N et.
I n t.. A c .
B a l., S u r.
1915........................................$827,262
$198,330
$188,540
$9,790
1914....................................... 867,453
190,982
189,231
1,751
CINCINNATI UNION DEPOT & T E RM IN A L CO.— V . 94, p. 1695,
C L A R K S B U R G N O R T H E R N R R . — Now M artinsville, W . V a ., to
M iddlcbourno, 13 milos. N ot yet in operation Juno 1916. Projoctod from
M iddlobourno to Shirley, 17 m . Bonds ($2,100,000 auth. issuo) aro subject
to call at 105 on and after O ct. 1 1921: Union Trust A Doposit C o ., Parkers­
burg, W . V a., trusteo. V. 93, p. 1785. Pros., Josoph F uccy, New M artins­
ville, W . V a.; V ice-Pros., I. M . U nderw ood, M iddlebourno. W . V a.—
(V . 96, p. 359; V . 102. p . 1987.)
C L E A R FIELD A MAHONING R Y .— ( 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 Jot., Pa., on But. R . & P ., to
Clearfield on Beecn Creek R R ., 26 miles. Leased during corporate existence
and renewals thereof to Buiralo Rochester A Pittsburgh— which see— at a
rental payable In gold and equal to 6% on $ l ,000,000 stook, par $50, and 5%
on bonds, the latter being guar., p. & I., by endorsem ent.— (V . 89, p. 1141.)
C LEVELAN D AKRON & CINCINNATI R Y .— (See M a p s o f P e n n s y l ­
Owns from Hudson, O ., to Columbus. O .. 144 miles: Klllbuok
to Trlnway, 34 m .; Morrow to Trlnw ay, 148 m .; AppleCreek branch, 9 m .;
total owned. 335 m. Owns a fourth Interest In Akron & Barberton Belt
R R .. 24 m . and half Interest In Zanesville Term R R ., 5 m. V. 76, p. 435.
A consolidation July 1 1911 of the Cleveland Akron A Columbus R y. and
Cincinnati A Muskingum Valley R R . Pennsylvania C o m p a n y ow n s $7,­
498,487 of the $7,500,000 outstanding stook. ODerated b Pennsylvania
Oo. under arrangement terminable on 6 m os.’ notice, the net earnings to
go to C. A . A C. V. 93. p. 1669. First d lv.. 2 % . paid Sept. 25 1911.
In 1912, 6 % (M . A S .); 1913, M arch, 3 % ; S ept., none.
Of Cleveland A k. A Col. 1st consol, gold 4s of 1940 (Commercial T r. C o.,
Phila., trustee), $1,023,000 are guar., p. * 1., by the Pcun. C o m p a n y ;
$1,800,000 are reserved to rettre the gen. 5s due 1927: V . 71. p. 390: V . 76.
p 653; V . 77, p. 1746, 2280.
Penn. C o . also guarantees Cln. A Musk. Vat. bonds: see form . V . 76. p.
653. Car trusts D ec. 31 1915, $90,822. In 1915, gross, $3,851,290; not*
$607,229; other incom e, $84,149; charges, $391,193; sinking fund, $31,534;
bal., sur., $268,650 — (V . 96, p. 1364, 1697; V. 98, p. 522.)

v a n ia R R .) —

CLEV E LAN D CINCINNATI CHICAGO & ST. LOUIS R Y.— { S e e M a p s
N .
Y.
C e n tr a l
L i n e s .) — R O A D .— Radiates
from Indianapolis. In d ,,
westerly to Chicago, Peoria, Cairo, 111., St. Louis, easterly to Sandusky,
Cleveland, Columbus and Cincinnati. O ., and southerly to Louisville.
M ile s
O w n ed D ir e c tly —
M iles .
Cleveland, O ., to Columbus. 0 .- 1 3 8 Evansville M t. C . & N or. R y ___33
Gallon. O ., to Indianapolis_______20.3 Saline Valley R y ________________ 2
Springfield to Indianapolis_______136 Cincinnati Sandusky A Cleve. R R .—
Delaware to Springfield___________ 50
Sandusky, O., to D ay’n, O.. Ao.170
T r a c k a g e Into Cincinnati, A o .
66
Cincinnati to Lafayette__________ 170
Indianapolis to Terre H aute_____ 71
Trackage Into Jeffersonville____
52
Harrison Branch_________________ 8 Trackage Into T oledo (V . 79. p.
Cairo to D anville________________ 259
1023, 2 6 9 6 )...............................
48Terre Haute to East St. L ouis___190 Trackage til. Cent. Into Chlo.l
On percentage basis------------J
56
Hillsboro to Lenox________________ 44
D ayton to Ludlow G rove_________ 47
T otal Included in ea rn in g s..2,385
Springfield to C olum bus__________ 45
Other.................................................... 15
O p e ra ted ; ea r n in g s k e p t se p a r a te —
L e a s e d — en tire sto ck o w n ed —
*206
Cincinnati Lafayette & Chlo. R y . 57 Cincinnati N orthern...............
Kankakee & Seneca R R ______
42
White W ater— Harrison, Ind. to
2
Hagerstown, In d _______________ 63 Mt. Gilead Short L ine_________
Loulsv. A Jeffersonv. B rid g e ..
*3
Cincinnati Wabash A M ich . R y .—
Benton Har. to R ushv., I n d ..204
Total of system D ec 31 ’ 1 5 ..2 ,6 3 8
L e a s e d a n d C o n tr o lle d —
O p era tes I n d e p e n d e n tly —
Peoria A Eastern R y .—
47
Springfield, O ., to Pekin, III..201 Dayton A Union R R .* _________
Double track__________________
534
Vernon Greensb. A R ushv. H it.—
•See this com pany.
Rushvllle to N o . Vernon, In d . 44
H IS T O R Y , A c.— A consolidation of the Cincinnati Indianapolis St. Louis
A Chicago Railway C o., the Cleveland Columbus Cincinnati A Indianapolis
Railway Co. and the Indianapolis A St. Louis Railway Co., made In July
1889. per plan In V . 48. p. 427. Of the com . stock, $30,207,700 was In Jan.
1916 owned by the N . Y. C ent. R R . V. 72. p. 86: V. 82. p. 749. 1912-13
purchased subsidiaries (V . 95. p. 418. 890, 1472; V. 97. p. 1114, 1821.
The com pany Is also one-eighth owner of Peoria A Pekin Union R y.
(through the Peor A East. R y .), one-fourteenth owner In Terminal R R .
Association of St. Louis, and two-fifths owner of Indlanap. Union R y ., and
part owner of Cent. Indiana R y .. Cent. Union Depot A R y . of Cincinnati.
Union Depot of Columbus, Dayton Union R y ., Dayton A Union R R ., Mun0I0 Belt R y .. which are operated Independently.
DTVIS.l ’00. ’01. *02 t o ’07. ’08. ’09. ’ 10. ’ l l . ’ 12. ’ 13. 14-’ 15. ’ 16.
C om __% f 3
3 44 4 yearly 1 2
2
0
0
0
0
P ref___% J 5
5
5 yearly 5 5
5
5
5
3>A
0 July I X
BO N D S.— The sinking fund provision of the C l e v e l a n d C o l u m b u s C i n c i n ­
n a t i 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 cancolod.
S t . L o u t s D i v i s i o n b o n d s , see deed of trust, V. 52. d . 42-45.
T ho 1 0 0 - y e a r m t g e . o f 1893 Is limited to $50,000,000. On D oc 31 1914
$17,090,000 gen. 4s were reserved for prior liens (exclusive o f Cairo division,
Peoria Division, MIohlgan Division and the St. Louis Division west of Terre
H aute), and the balance for equipm ent, construction and botterm onts, & c.,
$1,000,000 yearly. Seo V. 79. n. 733; V. 83. p. 379: V. 87, p. 1010; V . 90.
p. 626, 1044: V. 94. p. 1118: V . 97, p. 1114: V. 98, p. 1459: V . 101. p. 2144.
Guar. C hic. Ind. & St. Louis Short Lino Ity ., C ent. Ind. R y . and

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s, & c . , see n otes o n f ir s t p a g e]

M ile s
R oad

Cleve Cine Chic & St Louis (C on cD —
Debentures ($9,050,181 authorized).........................x
do
($10,000,000 authorized). . . . . . - - - - - x
___
O b lig a tio n s

Cincinnati Sandusky
Const

41

RAILWAY STOCKS AND BONDS

J une . L916.

D a te
B onds

1910 500$fr&o
1.000
1911
1916 5,000 &c
1914 1,000 &c
1.000
1915

$9,650,181
5,000.000
1.500,000
5,107.000
1,610.000

50
1,000
1,000

428,997
2.571.000
750,000
2,118,000

or P r o p r ie ta r y L in e s .
&

Clevejand— Preferred s to c k .

Bvansv M t Car & N o'lst M So'.OOO.OOO gu Q .xc*& r*
Louisville & Jellersonvllle Bridge 1st M— See thatCo
Indianap Un R y Gen & R ef M $10,000,000 See text
Cleveland Columbus Cincinnati & Indianapolis— Cleve
C leve L o ra in & W h e e lin g — See Baltimore & Ohio
Sieve & M V— Cons M (now 1st) 53,000,000 g.C e.xo& r
Cleve & M ar— See Toledo Columbus & Ohio R lv . R y.
Cleve & Pittsburgh— Stock 7 % guar b y Penn R R Co
Special betterm ent stock 528,738,135 a u th gu a r4 %
Gen M $10,000,000 g o ld .-F l Series A & B ......... xo*
Guaranteed prln and lnt ISeries C & D --------xo*
(endorsed) Penn R R .J S e r ie s B int reduoed.x
C le v e la n d S h o r t L in e— See New Y ork Central R R
Cleveland Terminal & Valley— See Baltimore & Ohio.
Coal & Coke— First mortgage $5,000,000 gold ------ x . .
Coal & Iron— See Western Maryland.
___ _
Coal River R y— See Chesapeake & Ohio.
_
Colebrookdale— 1st M $593,400 und Read M of 1897-0
Colo Midland— 1st M $10,000,000 (V 71. P 139>-Ce-xo*
Colorado & Southern— Common stock 531,000,000—
First preferred 4% non-oum ulatlve $8,500.000 l . . .
Second preferred 4% non-cum ulatlve $ 8 ,5 0 0 ,0 0 0 ..
Flrst mortgage gold $20,000,000-----------.-E a .z o
Ref & ext M $100,000,000 gold red 101 ..C e.x c*& r*

A m oun t
O u ts ta n d in g

Par
V a lu e

170 1888
1 IS 1903
1910

R a le

%

J
4
m g J
F
4)4
J
5
J
5 g

L a st D iv id e n d
a n d M a tu rity

& D June 1 1930
A J Jan 1 1931
& A Feb 1 1917
«& I) T o June 1929
& J July 1916-1929

M &
6
5 g J &
M &
4 g
&
4)4 g J

N M ay
J Jan
N May
J July

P la c e s W h e r e In te r e s t a n d
D iv id e n d s a re P a y a b le

Morgan,HarJes&Co, Paris
Treas office. N ew Y ork
Treasurer’s O ffice. -T
do
do
Com m Tr C o , Philadel’ia

1 1919 3% Treas office. N ew Y ork
do
do
1 1928
Central Trust Co, N T
1 1953
(A ll owned by Big Four)
1 1960

and I ndiana polls St Lou is & Chi ca go — See Clevela nd Cincinnati C hlcago & St Louis
K it
W inslow, Lan & C o., NY
2,936,000
5 g See text. Jan 1 1938
1.000&O
123 1888
7
50 11,237,750
Q — M June 1 1916 1 X W inslow, Lan & Co, N Y
do
do
4
Q — M June 1 1916 1%
50 16.965.000
do
do
M ar-O ot 1942
X
4,561.000
1,000
4)4 g
205 )4 1892
do
do
1948-1950
4.003,000
3 )4 g
1,000
v
205 )4 98-00
d
o
do
&
O
Oot
1
1942
A
424,000
3
)4
g
1,000
1892
205)4
4.059,000

5 g

100 &c
600,000
1,000
9,532,000
100 31,000,000
100
8,500,000
100
8,500,000
1882
1.000 19,402,000
1,048 1899
100 &c 30.803,900
1905
T ext
1,000
1907
104,000
San Fr anolsco.
1.000
1,040,000
74 1900
1,000
1,379,000
1902
First consol mortgage s j .ouu. uuu
$1,000
1908
(?)
Colorado Texas & .Mexico— First mtge $75,000,000.
F
&
A
.
"
D
.”
x Series ••A,” J & J; “ B ” A & O. y " C ” . M & N;

6
4 g

197
13
261

1903

1,000

1868
1897

Springfield Union D epot C o. bonds. V . 77, p . 510, 517, 769, 1363. 2280:
V . 7 8 ? p . 1906. 1961: V. 79, p. 2589: V . 95. p, 1541.
As to the $9,650.181 4s sold M a y 1910. payable in francs, and $10,000,000
4 E s sold in June 1911, see V. 89, p, 720, 778, 1141; V . 90, p. 1238, 1296,
1424, 1554; V. 91, p. 1710; V . 92, p. 1700.
..
...
Guarantees B vansv. M t. Carmel & N orthern R y. bonds. V . 95. p. 890.
Guarantees join tly with other roads Gen. & R ef.b on ds o f Indianapolis
Union R y ., which soo
V . 100, p. 555.
, r,
Jointly with five other roads covenants to pay N ew Y ork Central Lines
$71 494 000 equipment trusts o f 1907, 1910, 1912 and 1913, the com pany s
of o q u ®
trusts D ec. 31 1915 being $1.726 828 S t.796.632
$1,758,792 and $1,400,805. respectively. V . 85, p . 1401; V . 86, p. 168,
V . 88, p. 761: V. 90, p. 1677; V . 93, p. 1728.
,
.
,
In M a y 1914 $5,600,000 5% eaulom ont trusts were authorized, due about
$362,000 yearly June 1 1915 to 1929, o f which 3 3 .8 7 0 ,0 0 0 w as scJ dth on an d
« i .tor. n n ri in June 1916. V. 102, p. 2077: V. 98, p. 1693. V . 100. p. 397.
The $1 500 000 5% notes due Feb. 1 1916 were replaced b y w A c notes
duo Fob. 1 1917. V. 102, p . 521.
G E N E R A L F IN A N C E S .— Capital stock per milo o f road ow ned, d i­
rectly or through proprietary co s ., D ec. 31 1915, $31,454; bonded d eb t,
$55,419. I’ref. divs. resumed in 1916.
In N o v . 1 9 1 5 sold $4 , 16 1,0 0 0 Gen. M . 4s (already o u t). V . 101, p. 1713.
E A R N IN G S .— 4 m os.,11916............Gross, $14,483,530: not, $2,141,458
Jan. 1 to April 30. \1915_______Gross, 11,103,308; d e f.,
339,317
R E P O R T .— For yoar ending D oc. 31 1915 (inch Peoria & Eastorn R y .)
V . 102 p . 1430, 1447.
Y e a r e n d i n g D e c . 31—
1915.
1914.
1913.
M ilos operated______________________
2,381
2,381
2,365
Railroad rovonuos____________________ $38,364,087 $35,365,691 837,613,498
Operating incom o (after taxes)________ $9,314,103 84.878,730 83,398,315
933,198
810,196
Other in com e....... ..................... - ............. 1,134,835

SlfS

Gross corporate incom o____________ $10,448,938 $5,811,928 $4,214,511
$571,041
S57S.901
$587,116
Rentals o f leased linos_______________
Interest on bonds, & c--------------- --------- 5 ,9 § M J 9
Hire o f equipm ent, inch interest------556,184
1,706,712
1,3.).),335
Other r e n t s ............................................
704,150
765.126
700.167
M isce lla n eou s_______________________
2 0 7 ,o 2 o
114,968
133,786
D ividends on preferred_____________
____________ - — ------ (2ya)2oO.UUU
Balanco surplus or d eficit...........sur.$3.320.929df$ 1,973,687 d f$3,099,601
O F F IC E R S .— Pres., A . H . Sm ithlV .-Pres., A . H . Harris, VV. K . Van*
derbilt Jr.; Sec.. Dwight W . Pardee; Treas.. M ilton S. Barger, N . Y .
D irectors.— William 1C. Vanderbilt, W in. K . Vanderbilt J r., Fred k W .
V anderbilt, Chauncey M . Depow . A lfrod II. Sm ith, G eo. P . Baker. W m .
Rockefeller, W m . 11. N ewm an. II. S. V anderbilt, R . S. L ov ett, W alter P.
Bliss W . O. Brown, New York; Frank J. Jerom e, Cleveland; Leonard J.
H ackney, Harry A . W orcester, Cincinnati.— (V . 102. p. 2077, 2254.)
Cl FVF1 AND & MAHONING VALLE Y R Y .— Owns from Cleveland, O .,
to Penn E s ta te line, 81 m . (57 double track); Niles. O ., to Lisbon. O.
36 m •Girard to Youngstown, O ., 6 m . Leased to N ypano R R . (formerly
N Y Penn & Ohio) till 1982; rental $525,967 per an. C oup. Int. Is J.& J.,
registered interest. Q.-J. Stock Is $3,259,200. of which $3,258,400 Is held
by "A tla n tic First Leased Lines Rental Trust C o., L im ited ,” of London.
Dividends In 1897. 1 3 )1 % ; 1898 to 1904. both inclusive. 13)4 % yearly: In
1 9 0 5 ,1 1 .4 2 % : in 1906 to 1911. 11.40: 1912. 8 J * % ; 1 9 1 3 .1 1 .2 0 % ; 1914,
11.2i>%; 1915, 1 1.4 0% .— (V . 63, p. 968.)
CLEV E LAN D & PITTSBURGH RR . — ( S e e M a p P e n n s y l v a n i a R R . ) —
01cveland". O .. to Rochester. Pa., 124 miles: branches: Bayard. O ., to R os­
well O 39 m • Yellow Creek to Bcllalre, 43 m .; trackage, Rochester to
Plttsb. (P . Ft. W . & C hic.), 26 m .: other trackage. 23 m .: total. 255 miles.
L E A S E __Leased for 999 years Deo. 1 1871 to Penn. R R . C o., ana lease
transferred to Pennsylvania Co. Rental: dividends on stock. Interest on
bonds and organization expenses.
'Special guaranteed betterm ent stock'
(siihorihnate to the original stock as to dividends on ly ), with dividends of
1% Kuar by the Penn . U R . , Is Issuable for lmpts. V . 79. p. 2205. 2642;
V.°83 p 625; V 85. p. 1082: V. 87. o. 812: V . / l . P. 1446: V 93. p. 1785:
V . 96. p . 135; V. 97, p. 1425: V . 98, p. 999, V. 100, p. 1348.
In 1915
Issued $1,222,050 special guaranteed 4 % stock, m ak ln gou tsta n d ln g $16,­
965,000, o f which the Ponn. C o. owned on Doc. 31 191o$o,77 I,<o0. V . 101,
p. 1464, 448; V. 92, p. 1031, 1108.
B O N D S .— Generals are all equally secured; guaranty, V. 56. p. 604.
E A R N IN G S .— In 1915, gross, $11.360,635;. net, $3.50S,621; profit to
lesseo. $1,732,677.— (V .99. p. 47: V .100. p- 1348; V. 101. p. 448, 694, 1464.)
C L E V E LA N D UNION S T A T IO N (Proposed).— Sec V . 1 0 1 .p. 1370.1552.
COAL & COKE R Y .— Owns from Elkins, W . V a., to Charleston W . V a .,
175.6 miles; Mablo to Belllngton. (17.7 m .. less Lelter to Roaring Creek
Jot.. 1.6 m „ used on line from Elkins to Charleston) 16.1 m : branch.
Gassaway to Sutton, 6.5 m . (completed Jan. 1910); total, 1j 8.2 miles.
About 100,000 acres of coal lands are owned.
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
$941,000 In treasury. V. 85, p. 1005. Mortgage covers road and coal lands.
V. 78, p. 47. Car trusts Juno 30 1915. $81,755, duo $55,000 yearly (not
tax-exem pt, but com pany will assume Federal incom e tax); loans and bills
payable, S I,510,390.
R R . E A R N S .— 10 m os., 11015-16_____Gross, $908,159; not, $154,515
July 1 to A pr. 30.
\1914-15_____Gross, 804,216; not, 104,250
R E P O R T .— Year ending June 30 1915, In "C h ronlclo” O ct. 301915.
showed: Gross, $1,180.560: net. $340,859; deficit coal d ep t., & c.. $3,779;
total net, $337,080; other incom o. $2,258; int., taxes. & c., $379,251; bal.,
d of., $39,913. In 1913-14. gross, $1,256,943; total not, $464,767. Pres.,
It. C . Kerens, Elkins, W . V a.; Sec.-Treas.. C . II. M endley, W ashington,
n . o . — (V . 99, p. 1300, 1668; V . 101, p. 1460: V . 102, p. 1540.)




W h en
P a y a b le

A

J
J
See
A
A
F
4 g
4 )4 g M
A
5
5 g
5 g
5

J
A
J

&

O Apr 1 1919

D Overdue
J July 1 1947
text. Deo 31 1912 1%
A O O ct 1 1913 2%
A O O ct 1 1913 2%
A Feb 1 1929
&
N May 1 1935
&
A O T o Apr 1917

&
&

A
&
&

J Jan 1 1930
C Oct 1 1942
J Jan 1 1958

Elkins, W Va, or Balto
Reading T erm inal, Phlla
July '12 cou pon last paid
Office 26 L iberty. N Y
do
do
do
do
do
do
do
do
Guaranty Trust Co, N Y
Chem B k, N Y ,
do
New York

Col Sp
do

&

COLEBROOKDALE R R .— Pottstown to Barto. P a ., 12.81 miles. Leased
to Phlla. & Reading R y . Comm on stock, $297,215; par, $50.
C O L O R A D O K A N SA S & O K L A H O M A R R .— Owns S cott C ity to
Winona. Ivan., 52 miles. In Feb. 1914 contract was let for extension from
Garden C ity to Forgan, 140 miles. V. 98. p. 689. Incorporated in Kansas
July 1913 and took over the Scott C ity N orthern R R ., foreclosed A ug. 6
1913. V . 97, p. 445. Details o f securities not decided upon in June 1915.
Pres., W . C . Fordyce o f St. Louis; V .-P . & T reas., Frank S. Yantis of
Scott C ity, K an.; Sec., W . V. Delahunt, St. Louis.— (V . 98, p . 689.)
COLORADO M ID L AN D R Y .— (See M a p C o l. A S o u th .) — Ownsi from
Colorado Springs to New Castle, C ol., through B usk-Ivanhoe tunnel, 221.92
miles; branches. Basalt to Aspen, 19.37 m .; Cardiff to Spring Gulch, 15.01
m.; Arkansas Jet. to L ea ivllle, 4.80 m .; total owned, 261.10 miles. Leases
Rio Grande Jet. R y ., Rifle Creek to end R . G. J. R y ., 62.08 m .; trackage
to Rifle Creek, & c.. 14.46 m .; total operated, 337.64 miles. On D ec. 13
1912 George W . Vallery was m aderecelver. V . 95, p . 1683; V . 98, p . 1766.
B o n d h o l d e r s ’ P r o t e c t i v e C o m m i t t e e . — J. N . W allace. Chairman; James N .
Jarvle, Harry Bronner, W . d e Lancey Kountze, Francis L . Leland, B . A y mar Sands and Clark W illiams. Secretary, C . E . Sigler; Central Trust
C o ., N . Y ., depositary. V . 95. p . 1331, 1402. 1683; V . 96, p . 201. 652:
$4,245,000 o f bonds deposited June 14 1916. Last coupon paid July 1912.

O R G A N IZ A T IO N .— Successor O ct. 1897 to the Colorado Midland R a i l ­
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 i t
Rio Grande. V . 70. p. 686. 791. 997. 1290; V . 71. p . 28: V . 73, p. 1111.
Early in 1912 the C olorado * Southern arranged to sell Its one-half interest
to Blair & C o. V . 95. p. 1683; V . 99, p. 342.
P ref. stock. $6,000,000:
co m ., $4,000,000.
E A R N IN G S .— 10m o s.,(1915-16..............Gross, $1,284,484; net, 886,562
*
' net. 177,526
July 1 to April 30.
\ 1914-15........Gross, *1,483.727;
roa d ,

Y ea r —

C r o ss.

N e t.

M l s c .I n c .

C h a r g es.

B a la n c e .

def. $11,210
SI 84,230
1 9 1 4 -1 5 ............. $1,698,780 $157,604
S15.416
196.797 def. 140,683
---------- .............. 1,761.981
----------32.369
23,744
1913-14
d e f. 192,817
373,483
170,506
10,160
1912-13 .............. 1,828,335
d e f. 251.422
565.737
275,201
39.114
1911-12 .............. 1.830.166
O F F IC E R S .— R ecr., G eo. W . Vallery; T reas.. Harry L . H obbs
A u d ., W . S. W ing, D enver, C olo.
D i r e c t o r s . — G eo. W . Vallery, Henry T . Rogers, Samuel C . M athew s.
Edwin G ould, W inslow 9. Pierce. E. T . Jeffery and Chas. I l. Schlacks.—
(V . 96, p. 201. 652; V . 98. p . 1766; V . 99. p. 342; V . 101, p . 1370.)
C O L O R A D O & SO U T H E R N R Y .— C om pany o p e r a t e a systena from
Guernsoy, W yom ing, through Colorado to l'o rt W orth, T e x ., and by ex­
tensions built to 1906-07 reaches tidewater at Galveston. T e x ., and also
H ouston, Dallas, & c. T otal M a y 31 1916, 1,842 miles, v iz.: (* which see):
C o n tr o lle d —
740 M i l e s .
L in e s o p erated —
1.102 M ile s .
D e n ve r.C o lo ., to Guernsey_____246 Denver & Interurban R R -------- - 29
D enver, C o l.,to Texas StateLIne.347 Fort W orth & Denver C ity-------- *454
D enver, C ol., to Leadville. C o L -1 5 2 W ichita Valley R y ..............................52
Denver, C ol., to Silver Plum e,C ol. 55 W ichita Falls & Oklahom a............23
W ichita Valley R R ............................61
Other lines, branches, & c. (84
narrow gauge)--------------------------302 Abilene & N orthern. . ..........- - - - - 39
S tarn f.* N .W . R y .( V .89. p.1281) 82
N ew low-grade lino, Pueblo to W alsenburg, 46 m .. and line from W elling'
ton. C ol., to Cheyenne, W y o ., 32 m ., were opened O ct. 15 1911.
C o lo . Springs & Cripple Creek Dist. R y .. 74 miles (owned) to C ripple Creek
Central B y. V. 94. p. 123. As to C olorado M idland, see that com pany.
In April i906 acquired a one-half interest in the Trinity & Brazos Valley
R y ., owning a line from Cleburne to H ouston, r e x .,*-36 miles, with branch to
W axahatchie. 67 miles. See that co . and V . 98. D. 1920.

O R G A N IZ A T IO N .— Reorganization Jan. 1899, V . 67, p . 748. In
Deo 1908 the Chicago Burlington & Quincy aoqutred $23,657,500 com m on.
V 87, p. 1663, 1604; V. 88, p. 158, 685.
. , _
Owns a large m ajority of the com . stock of Fort W orth & Denver City
Itv
which see. Controls Denver & Interurban (Electric) Railway,
which owns 20 miles, and operates 31 miles of Col. & S ou., which has been
electrified, under lease. V . 87. p. 950; V . 89, p. 934.
D IV S. 1 ’00.
'01.
'02. '03.
'04.
'05. '06. '07. '08. to ' l l . '12. 13.T o '16
1st pref % [ 2 3 )4 3 )4
4 2
0
4 4
4 year y
4 4 N one
N one
2d pref. % I ................................................
4
4 yearly 4
N one
Com m on% J - - - - - - - -- --- -2 yearly
1
BO N D S.— 1st M „ see V . 68. p. 1027; V . 77. p. 2158; V . 87. p. 444. 1160.
The $100,000,000 refunding bonds of 1905 were made Issuable as follows:
For refunding bonds and equipment obligations of system — ---$ 3 6 ,8 5 0 ,0 0 0
For betterments and Improvements, Including equipment, at the
cum . yearly rate of $500 per mile of operated & controlled lines 15,000,000
For reimbursement of the treasury of the com pany. & c----------- -- 2,500,000
For acquisition of additional property (including proper provlslon for the cost of double-tracking parts of the malD lines). 4o,6o0,000
The refunding bonds are secured by a first Hen on all the bonds and practleallv all the stock of the cos. owning about 706 miles of road. Including the
W ichita Valley lines and the Trinity & Brazos Valley R y .; also, by direct
lien, subject to the first mortgage, on about 1,042 miles of road owned by
the Colorado & Southern and on the stock of subsidiary cos. whose bonds
are not pledged under the mortgage, owning 556 miles of read, making
l 604 additional m iles,on which there are outstanding $30,803,900 under­
lying bonds; total thus covered, 2,304 miles, on which the total outstanding
funded debt. Including these bonds and all prior liens, averaged $26,471
per mile. V. 80. P. 1791: V . 91. p. 462. 214: V. 93. p. 1021.
In Fob. 1915 sold $1,500,000 one-year 5 % notes.

42

[Vol. 102,

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., s e e n o tes o n f i r s t p a c e ]

M iles
R oad

i> o iora a o w y o m cc ca s e — uuiumuu sbuca »i,ou u,uu u
P ref (p & d) stock 6 % non-cum red par $2,000,000Laramle H alm 's P k & Pac 1st M g o ld ._ A B .z c*
112
1st & ref M 32,500,000 gold red 102 H ............112
Gen M (Incom e) $1,600,000 gold red par text
75
Colum Newb & Laurens— 1st M $12,000 per m .S B az
Columbia & Greenville— See Southern R y
Colum bus & T oledo— See H ooking Valley R y
55
Colum bus & Xenia— Stock 8 % rental--------------Combination Bridge (Sioux C ity, la )— First m t g e .- .z
71
Concord & Claremont (N H )— First m ortgage-------- zo
C oncord & Montreal— Stock Class 1 (B C & M p r e f ) ..
S tock Class I I (B C & M n ew )_______________
Stock Class I I I (B C & M old stook )..................
S tock Class I V (Concord) (te x t)_____________
262
C oncord & Montreal cons M for 5 5 ,5 00 .0 0 0 .BB.zo*
D eben bonds cur. (3650,000 4s; $400,000 3 H s ) ..z c *
...
do
do
5500,000 Interest g u aran teed ..z
do
do
$200,000........................................
Concord & P ortsm outh— Stock 7 % rental 99 y e a r s ..
40 H
Conn & Passum psic— Pref stook 6 % rental 99 y r s .-o *
110
zo*
First m ortgage 51.900,000 gold ________
37
Massawippl stock guar same dlv as Conn & Passump
21
N ewport & R lohford 1st M gold guar b y C & P .zo*
Connecticut River— Stock 53,670,300 authorized-----88
Bonds not m ortgage for 51.000,000 gold _________ zc
Bonds not m ortgage_______________________________z
do
do
______________________________z
N otes, extended 45 days June 1916________________ z
Verm ont Valley R R notes guar,ext 45 days J ’ne 1916
37
Conn (Phlla)— 1st M 515,000,000 guar p& l.G P .k v c *
Connellsvillc & M onong— 1st M g s f re d p a r.U P l xc& r
19 Vt
Cooperstow n & Susq vail— 1st M $200,000 lnt gu ar.z
Copper Range— First m ortgage gold (see t e x t )-------- x T ext
197
Copper River & Northwestern— lstM $ 5 0 ,0 0 0 .0 0 0 a x e*
26
Cornwall Sc Lebanon— S tock --------------------------------------26
First M extended at 4 % In 1906 (V 82 p 1322)___xr

D a te
B onds

—
1904
1914
1914
1887

1895
1914

1890
’97-99
1900
1914
1893
1911
1893
1901
1903
1915
1915
1911
1905
1888
1899
1909
1891

A m ount
O u tsta n d in g

Par
V a lu e

100
100
1.000
100 &c
100 & c
1,000

R a te
%

W h en
P a y a b le

$2,300,000
2,000,000
6 g J
240,000
550,000
6 g J
1,600,000 U p to 6
899,030
3 g j

&
&
&

L a s t D iv id e n d
a n d M a tu rity

j July 1 1929

July 1934
July 1 1944
j July 1 1937
j

1,786,200 8*5 In ’ 15 Q— M June 10 '16 2 %
J & j July 1 1915
500,000
5
J & j Jan 1 1944
500,000
5
A pr 1 1916 1 H
800,000
7
Q—J
A p r 1 1916 1H
540,400
7
A pr 1 1916 1 «
459,600
7
W
A p r 1 1916 1 H
6,457,500
7
y -*
5,500,000
4
J & D June 11920
1,050,000 3 H & 4 J & D June 1 1920
J
&
D June 1 1920
473.000
3Vi
June 1 1920
5
200.000
J
&
J Jan 1916 3 M %
350,000
100
7
2,500,000
F & A Feb 1 1916 3%
100
6
1,000
4 g A & O A pr 1 1943
1,900,000
F <& A Feb 1916 3 %
400,000
6
100
1 1941
1,000
350,000
5 g J & J
J
J
3,233,300
10
&
1 1916 5%
100
1,000,000
4 g
M & vS
1,000
J
290,000
3>S J &
1,000
J &
J
969,000
1 1923
1.000
3h
2,450,000
6
J & D
1,000 & c
J & D
2,300,000
6
1,000 &c
4 g M 15& S
4,000,000
1,000
712,000
4 g M & S
1,000
M & N
200,000
5
100 &o
2,280,000
5 g A & ()
500 & o
F & A Feb 1 1959
5 g
1,000 23,020.000
800,000
D ec31 1913
50
4
A & O Apr 11921
100 &o
764.900
50
500 &o
1,000
100
100
100
100
1,000
1,000
1,000

E A R N IN G S .— Including F t. W orth & D en . C ity and all affiliated lines.
Ten m onths from 11915-16___________Gross, $13,253,019; not, $4,869,652
J u ly 1 to A pr 30(1914-15___________ Gross, 12,154.426; not, 3,638,606
R E P O R T .— R eport for 1914-15 at length, showing operations o f system Including the F t. W orth & D enver C ity and C ol. Spr. & C rip. C r. Dlst*
R y ., D e n v e r * Interurban R R ., C olorado R R ., F t. W . & D en v. T erm . R y .,
W ichita V al. (R R . and R y .) . AbUeno & N or. R y ., W ichita Falls & Okla.
R y . and Stam ford & N orw . R y ., In V. 101, p . 1799, 1813.
1914-15.
1913-14.
1912-13.
1911-12.
Average m iles__________
1,840
1,866
1.850
1,881
T otal oper. rev en u os..-$ 1 4 ,0 9 0 ,5 1 6 $13,222,737 $15,077,677 $13,959,976
9,746,002 10,622,961
9,616,454
Operating expenses____ 10,010,848
Oper. Inc. (o v e r t a x .). $3,445,566 $2,821,328 $3,909,364 $3,807,529
T o ta l net in com e............$3,903,442 $3,711,731
$4,753,642 $4,597,803
ln t . on bonds, & c . ............ $3,349,675 $3,305,846 $3,688,566 $3,097,835
D lv . 1st prof, stock ............................. (2 % ) 170,000(4% )3 4 0 ,0 00 (4 % )3 40 .0 0 0
D iv . 2d p ref. s to ck _____
______ (2 % )1 7 0 ,0 0 0 (4 % )3 4 0 ,0 0 0 (4 % )3 4 0 ,0 0 0
D lv . on com m on s t o c k ..
______
______ ( 1 % ) 3 1 0 ,0 0 0 (2 % ) 620,000
B alance, sur. for year
$553,767
$65,885
$675,076
$199,969
O F F IC E R S .— Chairm an, George B . Harris; P res., H ale H olden, C hicago;
Sec. & T rea s., B . F . Jam es. D en ver, C olo.; A sst. Sec. & A sst. T re a s., T . S.
H ow land, C hicago, 111.— (V . 101, p. 1552, 1799, 1813.)
COLORADO SPRINGS & C R IP P L E C RE E K DISTRICT R Y .— Colorado
Springs to Cripple Creek. C ol., 47 m .; branch, Cameron to V ictor, 5 m .;
other branches and spurs, 22 m .; total, 75 m .; of which 57 m . steam, 16 m.
steam and electric and 2 m . solely electric. In Jan. 1905 Colorado &
Southern acquired all the stock except $900 com . • V . 80. p. 472. 1111. 1423.
Leased to Cripple Creek C ent. R y . system to M a y 1 1935. V . 94, p . 123.
Stock, all outstanding, com ., $1,200,000; p ref., 5 % non -cum ., $800,000.
Par o f shares, $100 each. D iv. 5 % on p ref., paid Feb. 1907, June 19081and
N ov. 11909. On com ., 2 % , Sept. 1908. Sinking fund can retire first mtge.
bonds yearly at 110 for first 15 years, then at 107
for 5 years, then 105 for
next 5 years, 102 H for 3 years, thereafter at par. V . 76, p. 345.
Pres., A . D . Parker.— (V 87. p. 740: V 88, p. 822; V . 94. p. 123.)
(T H E ) C O L O R A D O W Y O M IN G & E A S TE R N R Y — Owns from the
Union P a cific)R R . at Laramie, W y o ., to C oalm ont, C o lo ., 111.35 miles,
where large coal fields are located. Incorporated In W yom ln g June 2 1914.
Successor June 4 1914 o f Laramie Hahn s Peak & Pacific R y ., foreclosed
M a y 12 and 13 per plan V. 98, p . 453: V. 98, p. 1766, 1845.
Alexander J. Hem phill, n e n ry Sanderson and Trow bridge C allaw ay, as
voting trustees, will nold the now stock until all accrued Interest on the
Income bonds shall have been paid and the curront Interest paid regularly
for 2 consecutive years, and for such further period not exceeding one year
as the trustees In their discretion m ay deem advisable, if lawful.
E A R N IN G S .— O f new co. for year ending June 30 1915, gross. $133,687:
net. before taxes. $77.405.— (V . 98. p . 1766.)

P la c e s W h e r e In te rest a n d
D iv id e n d s a r e P a y a b le

American T r C o , B oston
Guaranty T rust C o , N Y
Safe Dep & Tr Co, Balt
Treasurer, Columbus, O
M e t T rust C o , Boston
Checks mailed
do
do
do
Safe Dep & T r Co, B oston
Boston S D & T r, B oston
do
do
Manchester, N H
Safe Dep & T r C o,B oston
Safe Dep & T r Co, Boston
do
do
do
do
B oston, Mass
do
do
do
B oston, M ass
do
do
Broad St Station, Philo
Union Tr Co, Pittsb, Pn
Nat Bk Cooperst’n N Y
B oston, Mass
J P M organ & C o , N Y
Trcas o ffice , Phlla, Pa
do
do

& A tlantic R y . (Can. Pac. system ), and guarantees its $350,000 1st 30-year
5% bonds dated Jan. 1 1911. V . 91. p. 946.
„
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. In
A pril 1911 B . & M. received authority to purchase stock . V .9 2 , p. 1108.
S E C U R IT IE S .— Massawippl stock receives same dividends as stock o f
lessee and $400,000 of It (not Included in the am ount outstanding) is pledged
as part security for 4s of 1893. Of the $2,500,000 pref.. $500,000, as also
$50,000 Massawippl Valley R y . stock, was purchased Feb. 1 1910 b v the
Vermont Valley, under Its option, at par.— (V . 57, p. 1040; V . 94, p. 826.)
C O N N E C T IC U T R IV E R R R .— Owns from Springfield. M a ss., to V er­
m ont Line at B rattleboro, 59.65 miles; branches, Chicopee Falls, 2.35 m .,
Eastham pton, 3.50 m .; East Deerfield, 1.04 m .; A shuelot, 21.82 m .; total,
88.36 miles. V . 95. p. 1200; V . 96, p . 1838. Controls Sullivan C ou n ty R R .;
Bellows Falls to W indsor, V t., 26 miles. V .8 0 .P . 1478; V . 81, p . 899, 1723.
In April 1911 B . * M . received authority to purchaso stock. V . 92. p . 1108.
The A ct of June 10 1912 authorizes purchase of Verm ont Valley and Sulli­
van C ounty railroads. V . 94. p. 1626; V . 95, p. 679. In 1916 a 45-day
extension was granted on the $2,450,000 1-year 6 % notes duo Juno 1-2 and
also on the $2,300,000 1-year 6 % notes o f the Verm ont Valley Ity ., due
June 1, guaranteed b y the C onnecticut R iver C o. See B . & M . plan,
V . 102, p. 1986.
L E A S E .— Leased for 99 years from Jan. 1 1893 to the Boston & Maine,
annual rental (as amended Oot. 10 1895) being 10% per annum on capital
stock, payable directly to stockholders: also Interest on bonds and scrtD and
$2,000 for organization expenses. W illiam II. M cC lln tock , Pres.; George
R . Yerrall, Clerk & T reas., Springfield, M ass.— (V . 102, p . 2077.)
CONNECTING R Y . (P H IL A D E L P H IA ).— Owns from Girard A ve. to
Frankfort J et., Phlla., 6 m .; North Phlla. to Chestnut Hill, 7 m .; branches,
6 0 .. 23 m .: total, 36 m. V .7 3 ,p .3 9 0 . Stock authorized, $5,800,000: o u t­
standing, $4,116,650, o f which $3,825,350 owned b y Penn. R R . D ec. 31
1915, which operates road under lease assigned to that com pany b y Phlla.
& Trenton R R ., terminating Feb. 18 2862. Dividends 4 % yearly (J. & D .).
In 1911 mado a new 1st M . for $15,000,000, o f which $4,000,000, guar., p. &
1., by Penn. R R ., have been sold; $2,059,000 were exchanged for the o u t ­
standing $2,059,000 3 } 4 % bonds and $1,000,000 for the 4 )4 % bonds due
M a y 1 1913. V . 93, p. 229, 730; V . 98, p. 522, 610. C crtfs. o f indebt. 4s
outst. D ec. 31 1914, $1,044,000 owned b y the Penn. R R .— (V . 98, p . 1693.)

CONNELLSVILLE & MONONOAHELA R Y .— Owns Moser Run Jet. to
Brownsville, P a., 15.68 miles; brauches and spurs, 5.22 m .; total track,
20.90 miles (connecting Penn, with M onongahela R y .). Incorporated In
Penn. M ar. l l 1905. Leased to Penn. R R . until Jan. 1946at rental equal
to 4 % on cost o f road, taxes, operating and m aintenance charges, rental
being m ore than sufficient to p ay Interest charges and retire principal o f
bonds through sink, fund at or before m aturity. Sink. fd .. $25,000 y r ly .,
to call bonds In numerical order, but to be kept alive. V. 93, p. 407. S tock,
$700,000. Controlled b y or in Interest o f U. S. Steel C orporation. P res.,
VV. II. Cllngerman; Sec. and Treas., J. D . M cC reery.— (V . 93, p . 407:
V . 97, p . 443; V . 99, p . 406.)
& CHARLOTTE V A L L E Y R R .— ( S e e M a p D e l . A
COLUMBIA N EW B ER R Y & LAURENS R R .— Columbia to Laurens, H uCOOPERSTOWN
d .) .— Owns Charlotte Crossing to Davenport Centre, 3.96 m .: leases for
S. C .. 75 m. S tock, $500,000. Bonds were 6s, but re-lssued as 3s In 1900, 99
years
from
Jan.
1
1889, Cooperstown & Susq. Valley R R ., C ooperstown
incom e certificates to amount o f 4 0% o f bonds being Issued. Bonds issued,
$899,000; in treasury N ov . 1915, $11,000. A t last accounts had also out­ to Charlotte Crossing, with branch to Cooperstown Jet., 19.48 m .. guaran­
standing $359,600 certlfs. for funded coupons and $64,454 incom e notes; teeing Interest on the latter’s $200,000 5 % bonds. V. 97, p. 1503. Y ear
ending June 30 1914. gross, $57,344: o p . Inc., $17,191; charges, $14,347;
and on June 30 1915 loans and bills payable, $99,453
b a l., sur., $2,844. S tock, $45,000. owned b y Del.& H ud.— (V.77, p. 88.)
E A R N IN G S .— 10 m os., 11915-16........... Gross, $272,766; loss, $69,398
COPPER RANGE R R .— Calumet. M ich., to Mass City, with branches,
July 1 to A pr. 30.
\1914-15______ Gross, $238,678; not, $25,788
93 m .; sidetracks, 41 ra. S tock, $4,244,300. of which S I,639,200
Year ending June 30 1915, gross, $271,812; not, $37,914; other incom e, total,
owned
Copper Range C o. Bonds limited to $20,000 per m ilo o f main
$3,204; Interest, taxes, & c., $62,416: bal., d e f., $21,298. Pres.. J. F. line andby
branches and $15,000 per mile o f sidings. O f the $2,280,000 bonds
L ivingstone, C olum bia, S. O.
outstanding, $870,000 wore In Jan. 1915 hold In the treasury o f the C opper
Range C o. V . 78, p. 228. D ividen d, 1 0 % , paid N o v . 1909 from accum u­
W5COLUMBUS & S O U T H E R N R Y .— On Feb. 28 1916 was sold under
lated surplus.
foreclosure, and in Juno 1916 was about to be junked.— (V . 102, p . 975.)
E A R N I N G S — 10 m os., (1915-16________ Gross, $719,346; n ot,$226,536
COLUMBUS & XE N IA R R .— Owns from Columbus. O .. to X enia, O.July 1 to A pr. 30.
(1914-15________ Gross, 519,711; net, 140,791
55 miles. Operated as a division of the Little Miami, and Is leased for 99
Cal. year 1914, gross, $601,643; net, $186,979; other incom e, $8,278.
years from Deo. 1869, In connection with that road, to the Pittsburgh Cin­ ln t.. taxes. & c., $169,983; bal., sur., $25,274. In 1913. gross, $575,065;
cinnati Chicago & St. Louis, which pays 8 % on stock. The lease Is guar­ net, $144,614. Pros., W illiam A . Paine; V .-P .. F. W ard Paine; Sec. and
anteed b y Pennsylvania R R . C o. Since Sept. 1913 the quarterly divs. in T reas., Frederic Stanw ood. B oston.— (V . 78, p. 228:)
Sept, and M a r. have been 2 1 -5 % , m aking the yearly d lv . rate 8 2 -5 % .
COPPER RIVE R & NORTHWESTERN R Y — Owns from C ordova.
— (V . 72. p. 532.)
Alaska, on tidewater, through the Copper R iver Valley to Copperflelds near
COMBINATION BRIDGE (SIO U X C ITY . I A .).— Owns steel bridge 1940. the Chitlna R iver, 197 miles. K ennecott C opper Corporation (V . 101, p .
feet long over M issouri R iver, with approaches, 1 m ile, used as a highway 1889) In D ec. 1915 arranged to acquire all o f the outstanding securities,
and b y traction com pany to South Sioux C ity , N eb . Form erly used also $4,817,400 stock and $23,020,000 1st M . 5s. In Jan. paid a $565,000 cash
b y railroads, b ut in June 1916 had not been so used for some tim e. P rop­ dividend. V . 102, p. 152. Stock auth., $5,000,000: par o f shares. $100.
erty was to be sold under foreclosure on June 8 1916. Bondholders’ p ro­ V. 99, p. 410. Year 1915, gross, $1,751,528; net, after taxes, $1,135,084.
tective com m ittee, John W . M orsebach, First N a t. Bank B ld g ., C hicago,
Pres., S. W . Eccles; V .-P res., R o b t. W . Baxter; Treas., E . S. Pegram ;
counsel. V. 101, p. 287. Stock, $1,500,000. Pres., Jos. C . Head, L aS ec., W . E . B ennett. O ffice. 120 B ’w ay.— (V . 102. p . 152, 1625, 1713.)
tro b e , P a .; S ec., F . L . E aton, Sioux C ity , l a .— (V . 102, p . 2256.)
C O R N W A L L & LEBAN ON R R .— Owns Lebanon. P a ., to Oonewago.
21.66 m .; branches, 4.78 m . Pennsylvania R R . on D ec. 31 1915 ownod the
CONCORD & MONTREAL R R .— From Nashua, N. H ., via C oncord.
Plym outh, & c., to Groveton and the W hite Mountains, 450 miles In all. $500,000 stock and Pa. C o. $300,000. V . 98, p. 696; V. 96, p. 947. O f the
Including Manchester & Keene, 30 m .; owned Jointly, 414 m .; 35 m. double bonds, $151,200 was Juno 30 1915 In com pany’s treasury.
track. Owns Concord Street R y ., 11 m .; also electric branch from Concord D IV 1’97. ’98. ’99. ’00. *01. '02 t o ’0 6 .’0 7 . ’0 8 .’0 9 .’ lO to ’ 12. 1913. 1914,
to M anchester. N . H .. 17 miles, and Nashua & A cton R R ., 20 miles (stock. P .C .f 3
4 4 H 5 5 H 6 yearly 8
7 8 10 y ’ly.
11
0
On June 29 1895 leased to Boston & Maine for 91 years at rental o f 7%
E A R N IN G S .— 10 m os., (1915-16.............Gross, $382,276; net, $135,234
per annum on all stook. In April 1911 Bos. & Me. obtained authority to
July 1 to A pr. 30.
(1914-15 ..........Gross, 245,714; net,
37,568
purchase stook. V . 92, p . 1108. Shareholders O ot. 10 1911 authorized $400.­
Y ear ending D ec. 31 1915, gross, $360,965; net, $96,862; other incom e,
000 additional stook for Impts. (Increasing stock to $6,457.600). V . 99. p. $9,820; in t., taxes, & c., $64,391; dlvs. (4 % ), $32,000; bal., sur., $10,291.—
1832; V . 100, p . 308.— (V . 100, p . 308.)
(V . 102, p . 1540.)
“ C O T T O N B E L T .” — C om m on name for St. Louis Southwestern R y .
CONCORD & PORTSMOUTH R R .— Owns Portsm outh, N . H .. to Man­
chester, N. H ., 40 M m. Leased to Concord R R . In 1862 for 99 years; rental
C R IP P L E C R E E K C E N T R A L R Y .— D ivid e, C o l., to Cripple Creek.
$25,000; 7 % on stock and org. exp . Operated b y Boston & Maine.
29 m .; V ictor to Vista Grand, 6 ra.; branches and spurs to mines, & c.,
34 m .; total, 69 m iles, o f which 45 miles standard gauge; leases (through
CONNECTICUT & PASSUM PSIC R IV E R S R R .— W hite R iver J o t., V t.
to Canada Line, 110 m .; leases 999 years Massawippl Valley, 37 miles.
C ripple Creek & Colorado Springs R R .) C olorado Springs & Cripple
Owns nearly all the stock ($350,000) of the N ewport & RIchford R R .,
Creek Dlst. R y ., Colorado Springs to C ripple Creek, 47 m ., with branches
Newport, V t.. to Canadian line, 21 miles, operated under lease by Montreal and spurs, 40 m . Controls M idland T erm . R y ., Cripple Creek & C o lo .




June, 1910,

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , A c . , s e e n o te s o n f i r s t p a g e]

M iles
Date
Road Bonds

Par
Value

Amount
Outstanding

Rate
%

When
Payable

43
Last Dividend
and Maturity

Places Where Interest a n d
Dividends are Payable

Cripple Creek Central— Common stock_____________
$ 10 0 $2,500,000 4 In 1915 Quar. June 1 1 %
Checks mailed
Preferred stock 4% non-cumulatlve______________
10 0
3,000,000,4 in 1915 Q. - M. June 1 1916 1%
do
Midland Term first mtge gold sinking fund__ F.xo‘
41 1895
1.0 0 0
342.000
5 g J & D Dec 1 1925
Farmers’ L 4 T C o . N l
Cuba Eastern— See Guantanamo & Western
Cuba RR— Common stook *20,000,000.........................
10 0 1 2 ,000,000 6 In 1915 See text N ov 1 1916 3%
Preferred stook 6% non-cumulatlve *10,000,000-.
10 0 1 0 ,000,000 6 In 1015 F & A Aug 11916 3
Checks mailed
First mtge gold *20,000 per mile............. G.xo‘ Ar‘
602 1902 1. 000 Ac 12,030,000
J & J July 1 1952
5(S
Royal Bk of Can, N Y
Impt & equip M g *12,000 per m____________ Nxc‘
1910
S & fr.
M & N May 1 I960
4.000.
000
do
do
Equipment trust certs., duo $43,000 semi-ann------1914
1,0 0 0
5 S F & A To Feb 1 1924 Montreal Tr Co, M ont
688,000
do
duo $28MA$27M s-an(V100,p.473)-Us
1915
1,0 0 0
J & J21 T o Jan 21 ’25
5
495.000
United States Tr Co, N Y
do
duo $40,000 soml-ann_____________ US
1915
1,0 0 0
5
760.000
J & D 15 To Dec 15 1925 United States Tr Co, N Y
Cumberland & Pennsylvania— First mtge g guar — z
53 1891
1,0 0 0
1 .000.
000
5 g M A N May 1 1921
Guaranty Trust Co., N Y
Somerset Coal car tr assum *76.000 yrly_____FBax
1900
1,0 0 0
228.000
J & D To Dec 1918
5
Fidelity Trust Co, Balt
12.9 1908
Cumberland RR— 1st M *3,000,000 g o ld ...................
1,0 0 0
1,028,000
J & D June 1 1958
Guaranty Trust Co, N Y
Cum berland Ry & Coal Co— 1st Rl $3,000,000 g gu.
48 1910
1.0 0 0
1.167.000
5 g A & O Oct 1940
Montreal, Canada
Cumbcrland Valley RR— See Pennsylvania RR
Dayton Leb & Cin RR & Term— First M g red (text) _x
29 1914
500 Ac
300.000
6 g M A S Mar 1 1934
3d-5th Nat Bk, Clncinn
Dayton & Michigan— Com stook (3
guar C II A D)
1871
50
2.401,950
3M A A O Apr 1 1916 1*A Cincinnati, O
Preferred (8% guaranteed C H & D) endorsed___
1871
50
1,211,250
do
8
Apr 1 1916 2%
Q— J
1st M g u p & l end ext In 1911 red 102 S b e g 1917-C
141 1881
1,0 0 0
2.728.000 4H (5) J & J Jan 1 1931
J P Morgan A Co, N Y
Dayton Union Ry— First mtge sink fund call par.-F x
1899
1.0 0 0
397.000
4 g J & J July 1 1949
Farmers’ L A Tr Co. N Y
Death Valley RR— First mortgago_________________
1914
£ 10 0
£54,000
5
245
Delaware— Stock 8% guaranteed.................... .............
25 $5,078,275
&
8
Jan 1 1916 4% Checks mailed
General mortgage gold.................................. -FP.xo*
113 1892
1,0 0 0
500.000
4H g J A
July 1 1932
Broad St Station, Phlla
Delaware & Bound Brook— Stook 8% gu Phlla & Read
10 0
Q— F
1.800.000
8
May20 1916 2% 11 W State St., Trenton
First consol M $1,800,000 guaranteed--PeP.xo’ Ar 30.97 1905
1,0 0 0
1.800.000
3 M g F & A Aug 11955
Mech Nat Bk.T'renton.NJ
Delaware & Eastern (foreclosed)— See Del A Northern
Delaware & Hudson— Stook *65,711,500 (text)_____
10 0 42.503.000 9 in 1916 Q—Mch June20 1916 2 Vi Offloe 32 Nassau St, N Y
First M on Pennsylvania DIv (*10,000.000) Un.zoAr
1877 1. 000 Ao
5.000.
000
7
M A S Sept 1 1917
do
do
Schenectady A Duancsburg first mortgage_______ z
1874
100 Ao
500.000
6 g M A S Sept 1 1924
do
do
Adirondack 1st M gold guar p & 1 end__ Us.zo’ Ar
1892
1,0 0 0
1 .0 0 0 .
000
4H g M A S Mch 1 1942
do
do
lstAref M *50.000,000 g s f red 107 H beg’18-xo‘ Ar‘
1908 1. 000 Ao 32.204.000
4
M A N May 1 1943
do
do
Convert bonds gold red text_____________________
1915
500 &c 14.451.000
5 g A & O Oct 1 1935
do
do
Equip 1st lien bonds *10,000,000 g s f._U sm .xc‘ Ar
1907
1,0 0 0
9.643.000
4H g J A J July 1 1922
do
do
G u a ra n teed S e c u r itie s —
Hudson Coal Co deb gu p A I end part due yearly.z
’0 1 - ’02
1,0 0 0
75,000
4
M A N May 1 1917
do
do
Blutf Point Land Improvement Co 1st M g gu.zc*
1890
1,0 0 0
300.000
4
J A J Jan 1 1940
do
do
Chat Ore A I refunding mtge call 105------- N.xo‘ Ar
1902
1,0 0 0
1.300.000
A J Jan 1 1942
4
do
do
Albany A Susquehanna R R ; N Y & Canada R R ; Ch ateaug ay & L ake Plaol d RR; Utlo a Clinton A Bing R R : Coop A Ch arl Valley—See
those cos
Springs R R . SeeV . 69. p. 851, 1011, 1103; V. 72. p. 984: V. 74, p. 8801
VT 77, p. 1542.)
Reorganization (per plan In V .78,p. 2018: V. 77, p. 1542,) of the Denvei
A Southwestern, foreclosed Oot. 4 1904. V. 79, p. 1461.
STOCKS AND BONDS.— 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.
DIVIDEN DS. ’05. ’06. ’07. ’08. ’09. ’ 10. ’ l l . ’ 12. 1913-15.
1916.
7Vi 6 0 0 0 0 3
4
1 1 ,1 ,Common, % _____3
Preferrod, % ------- 4
4
4
4
4
4
4
4
4
1 ,1 ,-,In Fob. 1916 an extra dividend o f 10% was declared with the quarterly
1% , on common stock, both payable March 1. V. 102, p. 521.
REPORT.— Report for year ending June 30 1915, In V. 101. p. 1184,
showed total net Income of parent co. above all exp., $241,638; div. on
pref. stock (4 % ), $120,000; com. div. (4 % ), $100,000; balance surplus,
$21,638. Pres., A. E. Carlton; Sec. & Treas., E. S. Hartwell. Office,
25 Broad St., New York.— (V. 101, p. 1092, 1184; V. 102, p. 521.)
CUBA RR.— Owns from Santa Clara, Cuba, to Santiago de Cuba, 356
miles; branches, Zaza Jet. to Sanctl Splrltus, 8 miles; Alto Cedro to the Bay
of NIpe, 31 m.; Ponupo branch, 11m.; Jatibonlco branch, 11 M m.; Holguin
branch, 11 m.; Manzanillo branch, 3 2 y, m.: Bayamo extension, 141 m.;
total, 602 miles; Fomento-Trlnldad-Casilda branch, under construc­
tion. See V. 75, p. 1157, 1347. The Cuba Co. owns the outstanding
$12,000,000 common and $1,000 pref. stock. The stockholders on May 28
1914 authorized an Increase In tho common stock to $20,000,000, the now
stock to bo placed In the treasury for future requirements. V. 98. p. 1766.
V. 96. p. 230, 663. N ov. 1916, 3% . In Jan. 1916 stock divldond of 20%.
M rstdiv.on pref., 1!4% , Aug. 1909; 1910. Fob., 114%: Aug.. 2% : 1911.
Feb-- 2% : Aug.. 214%; 1912. Fob., 2)4% : Aug., 3% ; 1913 to 1916, 6% .
(3 % F .A A .). On com., May 1 1913, 4% ; 1914 and 1915,6% (3% M.&N.)
V. 96, p. 236, 663. In Jan. 1916 stock div. o f 20%.
First mtge. bonds application to list, V. 86, p. 924; V. 88, p. 451; V. 89,
p. 162; V. 91, p. 38, 1253. Stockholders on Juno 27 1910 auth. a mortgage
to secure 5% Improvement and equip, bonds not exceeding $12,000 por mile
(excl. sidings) owned: In July 1912 $4,000,000 were sold. Bonds are also
Issuable in francs. V. 91. p. 588. 1253; V. 95. p. 176.
EARNINGS.— For 10 months ending April 30:
G ross.

N et.

C h arges.

B a la n c e .

1915-16__________________$5,530,581 $2,850,933 $803,219 $2,053,822
1914-15........................ ........ 4,208,266
2.136.S34
709,239
1,427,595
REPORT for year ending June 30 1915 was in V. 101, p. 768, showing:
Gross, $5,206,714; net. after taxes, $2,727,540; bond, &c., Int., $853,856;

-D A Y T O N & UNION RR.— Owns from Dodson. O.. to Union City, Ind.,
leases Dayton to Dodson, 15.30 m .; total operated, 47.04 m.
C, n> Ch,c- & St. Louis and Cin. Ham. A Dayton Jointly own the
$86,300 stock. Year ending June 30 1915. gross. $141,824; net, $15,513;
other income $3,960; charges, $37,865; bal., def., $18,392. In 1913-14.
gross, $141,630: net, $7,042; other Income. $4,479: charges. $38,138;
bal., def., $26,617— (V, 97, p. 236.)
DAYTON UNION R Y.— Union depot at Dayton, O. Used by Pitts.
Cln. Chic. A St. L ., Clev. Cln. Chic. A St. L ., Cin. Ham. A Dayton, Dayton
A 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.
IvSvQyO' aI1 com. For year ending June 30 1915, gross, $102,903; net,
$48,977; other income, $109: int., rentals, Ac. (incl. div. 7% on stock paid
as ground rental), $41,258: bal., sur., $7,828. P res.,G . L. Peck, Pittsburgh
Pa.; Sec., R . C . Barnard, Cincinnati, O.— (V. 73, p. 1312.)
DEATH VALLEY R R .— Owns from the Ryan branch of the Tonopah Sc
Tidewater R R . in Inyo County to the Biddy McCarthy borax mine, 16
miles, completed about Nov. 30 1914. In March 1914 was authorized to
Issuo $75,000 stock and £47,300 10-year 5 % bonds guaranteed by the Borax
Consolidated Ltd., on Sept. 2 1914 to issue £20,400 bonds, and on Mar. 9
1915 $20,000 stock to retire £4,000 bonds. V. 100. p. 981.— (V. 100,p.981.)
DELAWARE RR.— ( S e e Maps Pennsylvania R R . ) — Shellpot Crossing
Del., to Delmar, M d.. 95.20 miles: branches, Centrevllle, Md., to Townsend
Del.. 34 98 m.; Clayton, Del., to Oxford, Md., 54.27 m .; Seaford. Del., to
Cambridge, Md., 32.96 m .; Masseys, Del., to Chestertown, Md.. 20.52 m .;
other branches, 7.22 m.; total 245.15 miles. V. 67. p. 1356.
Leased to Philadelphia Baltimore A Washington (which owns *2.704.600
of the stock) for 99 years from Mch. 1 1910 at a guaranteed rental of 8 % on
the stock, a special stock dividend of 70% being paid Feb. 28 1910; also a
special cash dividend of 20% and an extra cash dividend of 5%
Dlvs. prior to lease. 1898 to July ’06, 6% yMy; '07. 8 % : \08,'8%: 09. 8 % ;
10, Jan., 4 % ; July, 4 % . For year ending Dec. 31 1915, rental, $431,764;
°tber Income, $65,690: charges. $71.487: divs., $406,262; bal.. sur., $19,705.
— (V. 90, p. 913. 1554; V . 94. p. 123. 278.)
tvt DELAW ARE

& BOUND BR O O K R R .— Bound Brook (Central R R . of
N . J ) to Delaware River, 27.22 miles; branch to Trenton, 3.75 m.; East
Trenton R R .. 3.05 m .; total, 34.02 miles. Total track, including 2d, 3d
and 4th tracks, sidings, A c ., 97.82 miles. In M ay 1879 leased for 999 years
t ° Phlla. A Reading. Rental, $213,000, paying interest and 8 % on stock.
— (V. 81, p. 210.)
DELAW ARE & HUDSON CO .— Operates railroad lines from WilkesBarre, Pa., via Albany, N . Y ., to Rouse’s Point, on Canada line, with
branches, 909 miles in all.

Lines owned—

Miles. I Lines leased— •See these cos. Miles.

Lackawanna A Susquehanna____22 ‘ Albany A Susquehanna__________ 142
Valley RR of Pennsylvania_____ 17 ‘ Rensselaer A Saratoga__________ 192
Honesdale and other branches... 3 7 1‘ Chateaugay A Lake Placid R R . 80

soy City, N. J.; 52 William St., N. Y .— (V. 99, p. 671; V. 100. p. 53, 229,
473; V. 101, p. 768, 1184.)
Schenectady A Mechanicvillc___ 10
Union Railroad_________________ 22
(THE) CUMBERLAND CORPORATION .— In April 1916 placed in Cherry Valley Sharon A Albany. 21 •Jefferson R R . (trackage)_______ 35
liquidation.— (V. 102, p. 1436.)
New York A C an ada................... 150 Boston A Maine (trackage)______ 22
76
CUMBERLAND A PENNSYLVANIA RR.— Owns from Cumberland. Soheneotady A Duanesburg.........1457 Other lines.....................
Md.. to Piedmont, W . Va., and several branches, 57 miles. Owned by Adirondack R ailw ay..............
Total operated Jan. 1 1916____909
The Consolidation Coal Co., which guarantees by endorsement the •Coopcrstown A Charlotte Valley 4
Also leases Utica Clinton A BIngh. and Rome A Clinton R R ., 44 m ., sub­
first mortgage. V. 52. p. 390. Stock. $1,500,000; par, $100. Car trust, see
let to N. Y. Ont. A W ., and controls Quebec Montreal A So. R y., which see.
V. 85, p. 1401. Year ending Juno 30 1915, gross, $811,622; net. $101,599
In F3b 1905 a half-interest 'n the stock of the Schenectady Ry., 116 miles,
other income, $166,253: int., taxes, A c.. $208,075; baL, sur., $59,777. in
was purchased. V. 82. p.687. Owns *12,499.600 of the *12.500,000 stock
1013-14. gross, $906,696; net, $191,709. In 1912-13, gross, $928,302: net
$268.348— (V. 85. p. 1401.)
*
’ of the United Traction Co. of Albany. V. 81. p. 1550, 1610: V. 84. p. 51.
HTvSTORY, AC.— This company was chartered April 23 1823. It Is one
CUMBERLAND RAILW AY & COAL CO.— Owns road from Sprlnghlll of the largest miners of anthracite coal.
Owns $3,500,000 stock of
Jet. to Sprlnghlll Coal Mines, N. S., and Parrsboro on the Bay of Fundy
Hudson Coal Co., which in June 1909 agreed to purchase tho entire coal
32 miles; also coal acies, timber lands, Ac. The Dominion Steel Corpora­ output.
V.
86,
p.
913;
V.
88,
p.
1499.
Anthracite
rate case, V. 101, p.
tion late in 1910 arranged to acquire the $1,000,000 stock, which has been
exchanged for $600,000 Dominion Steel common stock, the $979,000 6 % 2072; V. 102, p. 1357«
DIVIDENDS.— ) ’87. ’88. ’89 to ’96. ’97 to ’00. '01 to ’06. '07 to ’ 16.
bonds being exchanged for $1,167,000 5s guaranteed by Steel OOrp. issued
6
7 yearly. 5 yearly. 7 yearly. 9 yearly.
under a mtge. for $3,000,000 providing for future requirements. V. 91 D Since 1886------- % / 5
1629, 1766; V. 92. p. 186. 1435; V 97, p. 1583 Leased to Dominion Coal
STOCK, AC.—In 1900 to 1906 *1,288.500 stock was retired; none since.
Co. For year 1912-13, gross, $110,799; not. $19,854. (V. 97, p. 1583.)
Stockholders May 9 1905 authorized Increase of *5,000,000 stock for con­
at option of holders, to April 1 1916. of *10.000.000 Albany A Susq.
CUMBERLAND R R .— Artemus to Wheeler, K y ., 10.2 miles, and version,
% bonds, dated April 1 1906. on the basis of *500 stock tor *1,000 of
Lansford to Anchor, Ivy., 2.7 m.; total, 12.9 miles. Incorp in Kentucky 3H
bonds.
Albany A Susq. stockholders were held by higher Federal courts
in 1902. Stock auth., $ 100 ,000: outstanding, $20,999: par, $100. Bonds to be entitled
the benefit of this refunding, increasing the yearly rental
(53,006,000 auth. issue) outstanding June 30 1916, $1,028,000. Year end­ paid. V 85. to
p. 721; V. 83, p. 1036; V. 80. p. 1174. 1362, 2343; V. 88,
ing June 30 1915. gross, *56.157; net. after taxes. $11,095; Int., A c.. $29,735; p.
938, 1499: V .8 9 .n . 1068. 1141; V. 90, p. 911. To Jan 1916 *3,55 .000
baL, def., $18,628. Pros., It. W. Stone: Sec., J. L. Stone; Treas., A. J
bonds had been exchanged for D. A H. stock.
Hazeltine; Auditor, A. C. Matheson. Offico, Artemus, Ky.
As to 4% 10-year debentures o f 1906. see V. 82. p. 687.
Equipment lien 4)^s of 1907, see V. 84, p. 1247. 1307; V. 85, p. 1082.
CUMBERLAND VALLEY R R .— (V. 102, p. 1346.)
On May 12 1908 the stockholders authorized a First and Refunding M ort­
DALLAS & WACO R Y .— (V. 102, p. 1625.)
gage for *50,000,000, bearing not over 4% Int. and running 35 years and
subject to redemption as an entirety only at 107 yt on any int. day, beginning
DAYTON LEBANON & CINCINNATI RAILROAD & TERMINAL CO
May 1 1918. One per cent of the amount of bonds outstanding Is to be paid
— Owns from Lebanon, O., to Lebanon Jet.. 23 m.; Hempstead to Dayton to the trustee June 1 annually from 1909 to 1942. to be used to purchase
Onion Station, 6 m..where terminal property Is owned; opened Mav 1910
bonds or for Improvements and extensions. Of the Issue. *6,500.000 are
Branch, Lambert to Lakeland, 1 m. On Jan. 1 1915 was sold to Penn C o' reserved to retire outstanding 1st M. bonds; V. 86, p.98. 1409. 1589- V. 87.
and on July 1 1915 was merged with Cincinnati Lebanon A Northern R v ’ p. 96. 480, 1419, 1604: V. 89. p. 847, 1541: V. 90, p. 51, 167; V. 92. p. 186
Co. Bonds auth., $500,000 ($300,000 sold Mar. 1914) , are subject to cali 394: V. 96. p. 1156, 1700: V. 97. p. 1024; V. 98. p. 1168, 1844: V. 99. p. 48
on and aftor 3 years at 105; sk. fd., 5% gross rov. Cent. Tr. Co. Cincin­
The stockholders on Sept. 30 1915 authorized the Issuanceof $14,451,000
nati, trustee. V. 85, p. 1518— (V. 100, p. 139.)
20-year 5% bonds, which wero offered to stockholders. Tho bonds may at
Option of holders at any time after Oct. 1 1917 up to Oct. 1 1927 be converted
DAYTON & MICHIGAN RR.— Owns Dayton, O.. to Toledo Juno O
shares of capital stock at the rate o f $1.500 bonds for ten shares
141.15 m.; trackage Into Toledo, 1.15 m.
Leased May 1 1863 In perpetuity Into paid-up
(with an adjustment of interest and dividend). The entire issue,
to Cln. Ham. A Dayton. Lease modified June 23 1870. Rental Is mainte­ Of stock
not a part, may be called for redemption on Oct. 1 1922. or on any
nance of organization, Int. on bonds and 8% on pref. stook and 3 44% on but
Interest day thereafter, on 90 da vs’ notice, at 105 and int.,
com. Guaranty on pref. is secured by mtge. of 1871, but the pref. carries semi-annual
but If so called during the conversion period the bonds mav be converted
no voting power. V. 56. p. 813. Mtge. of 1856 Is held alive under mtee. of u
n to 30 days prior to such call day. V . 101, p. 773, 1092;V: 102, p. 800.
1881. V. 91, p. 1446; V. 92, p. 118. Status o f stock and bonds is undis­ 1356.
procoods were used chiefly to pay o ff the $13,973,000 4% de­
turbed by plan o f 1916, by which B. A O. RIi. will tako over possession, benturesTho
due Juno 15 1916: *12,405,300 new bonds were on New York
along with main lino o f Cin. Ham. A Dayton.— (V. 92, p. 526.)'
Stock Exchange list June 14 1916.




44

M ile s ,
R oad

R A IL R O A D C O M P A N IE S
[ F o r a b b r e v i a t i o n s , <ftc., s e e n o t e s o n f i r s t p a g e ]

First & ref M 5150,000,000 gold red 110 -_Baxp*<5or*
A djust M incomes S25.000.000 7 % cum red 115 Nxo*
Im provem ent M (55,000 per ml) g -------- U s.x c’ &r
R io Grande W estern 1st M gold (V 69, p 284) .C e.zo*
First cons mtge redeem at par see text) g .-G .x o *
Utah Central 1st M guar (V 6 8 ,( P 724) g o l d ...O x
Equipm ent bonds Ser B red 101 g 575,000 due sa
B on d s o f A ffilia te d C o m p a n ie s—
R io Grande Southern first m ortgage guar-------- Cex
R io Grande Junction first mortgage guar------ Ce.xo*
Utah Fuel Co 1st M 52,000,000 redeem at 110— Gz
Pleasant Valley Coal 1st M s f redeem at 115------ Gz
Salt Lake City Union D epot & R R — See that Co.
x Of whloh 51,777,000 In treasury; there are also

R a te
%

W h en
P a y a b le

550 542,277,000 20 Inl91o See text
& J
6 g
320.000
10 0 &o
80-'86
J 4
J
3
185.000
1860 One bond
J
& J
200.000
3
1874 One bond
4
1,308,500
F & A
4 g
1,280,000
1,0 0 0
1896
See text
700.000 T o 5 %
10 0 &o
1909
A & O
5 g
1,0 0 0 See text
1910
79,697 6 & 7
000
10 0 38.000.
10 0 49,779,800
‘i
4 g
500 &o 34.125.000
4H g
6.382.000
1,0 0 0
5 & mks 33.054.000
5 g
5 ,£.m ,& c 1 0 .0 0 0 .
7000
in 1915
5 g
8.335.000
500
4 g
&o 15.190.000
4 g
&c 15.080.000
4 g
390.000
.000
5 g
.000
225.000
1,0 0 0
1,0 0 0
1,0 0 0
1.0 0 0

180
62

52.233 .000

d

..8 8 %

x 2 ,277,000
2 .000,000
486.000
897.000

4
5
5
5

g
g
g
g

J
3

M
J

&
&

&
&

J
D
S
J

L a st D iv id e n d
a n d M a tu rity

P la c e s W h e r e I n te r e s t a n d
D iv id e n d s a r e P a y a b le

Apr 20 1916 2 H
1930-1936
Jan 1 1932
Jan 1 1932
Overdue
Aug 11936
July 1 1939
Apr 11940

90 W est St. New Y ork
do
do
Broad St Station. Phila
do
do
do
do
Philadelphia, Pa
K ldder& C o,5 Nassau,NT
in default

i s W

Jan
Aug
A pr
June
July
Apr
Jan
Sept

1 1936
11955
1 1932
1 1928
1 1939
11949
1 1917
'16-Sep’ 17

do
do
Bank’ Tr Co, N Y;& Ber
N Y , L o n d ,B e rlin * Amst
National Park Bank, NY
Guaranty Trust Co, N Y
do
do
do
do
Blair & C o ., N . Y

July
Deo
Mch
July

1
1
1
1

Maitland. Coppell, N Y
do
do
Guaranty Trust C o , N Y
do
do

1940
1939
1931
1928

ot guara

E A R N IN G S .— 4 m o s .,11916............. Gross. $8,485,029; net, $2,691,696
Jan. 1 to A pril 30. 11915_______ Gross, 6,987,572; not, 2,220,749
R E P O R T .— For year 1915 in V . 102, p. 1341, 1356.
Y e a r e n d i n g D e c . 31—
1915.
1914.
1913.
A nthracite coal carriod (ton s)..............®r,2’§ o 9 ’§?n ®oo ’ voo ' oao
N otS(raflroads) ° f rallro^ f =ZZ1 1 1 1 1 : S| | ;5 II
T t IIM a U

iS M

A m ount
O u ts ta n d in g

Par
V a lu e

D a te
B onds

Delaware Lacka & W estern— Stock auth 542,277,000
Bangor <Sc Portland mortgages g o ld ---------- ---------- - x
Delaware Maryland & Virginia— Juno & B— 1st M _z
Break & Frank 1st M to State red since Jan 1895-z
Other m ortgages................ ........................- x0*
Del River RR & B ridge— 1 st M g g u p & 1 sf l% G P .x o *
Denv Bouldef & W est— Ino 1st M 5800,000 red par _x
Denver Lar & N W — 1st M g red 108 5 30 ,00 0 pm Bax
R eceiver's certificates (§20,000 are 7s) —
Denver & Rio Grande— Stock com m on (see
Preferred stock 5 % non-cum ulatlve 550
First consol M 542,000,000 now 1st M

.H M 8

T otal net incom e___________________ $11,667,061 $10,100,470 511.563,013
M iscellaneous r e n ta ls ...............................$1,999,352 $1,997,679
Intorest, taxes and m iscellaneous------ 3,596,268
3,492,997
3,368,049
3,825,270
3,825,270
D ividends on stock, 9 % - ____________ 3,825,270
Balanco, surplus__________
$2,246,171
$784,524 $2,349,466
T he earnings o f the coal department In 1915 wore $15,860,677; oxponsos,
$15,084,639; not, $776,038. In 1914, gross, $15,517,042; not, $640,887.
Loans and bills payable D ec. 31 1915, $2,703,534.
O F F IC E R S .— Pres., L . F . Loree; Chairman E xec. C om m ., R . M. O ly­
phant; V .-P ., Chas. A . P eabody, N . Y .; V .-P . & Gen. M gr., C. S. Sima
A lbany: V .-P ., W . II. W illiams; A sst, to Pres, and A sst. Sec., W . B.
S ch ofield ; Asst, to V .-P ., G . II. Parker; T reas., C . A . W alker; Sec., F. M .
O lyphant; C om p ., W . II. D avies, 32 Nassau S t., N . Y .
Managers.— R obert M . O lyphant. Chauncey M . D enew, L . F . Loree.
W illiam S. O pdyke, Archibald D . Russell, Cornelius Vanderbilt, W . II.
W illiams. Henry W . de Forest, George I. W ilber. O . A . P eabody, R obert
S. L ovett, Charles W eston and R obert C . Pruyn.— (V .102, p. 6 5 ,8 0 0 ,1 3 4 1 .)
D E LA W A R E LA CK AW A N N A & WESTERN R R .— ( S e e M a p . ) —^ Oper­
ates main line from H oboken, N. J ., opposite N. Y . City, to Buffalo, N. Y .,
410 m ., with branches to anthracite region, & o L, 547 m ^ vlz_ : ('s e e thls_oo.)
L i n e s L e a s e d (C o n c l .)—
M ile s .
L in e s O w n ed —
M ile s .
N . J. State line to N. Y . line____ 111 •Oswego & Syracuse--------------------- 35
Branch to N orthum berland_____ 80 •Syracuse Bingham ton & N . Y ._ 81
H opatcong, &o.................................. 2 •Utica Chenango & Susquehanna 97
Erie & Central N . Y .(V .9 6 ,p .2 0 2 ) 18 •Valley R R . of New Y ork ----------11
Bangor & Portland R y ------------------38 •Lackawanna R R . of N. J . . . . . . 28
L in e s C o n tr o lle d a n d O p e ra ted —
H anover & Newport R R _________ 7
Sussex R a ilr o a d ..-------- ---------------- 31
L i n e s L e a s e d — (See each c o .)—
•Morris & Essex and leased brchs.176 Lackawanna & Montrose R R ------ 11
•N. Y . Lackawanna & W e s te r n ..214
•Cayuga & Susquehanna................ 34
Total operated Jan. 1916-------- 981
Greene R ailroad--------------------------- 8
C u t-off from Clark’s Sum mit, P a ., to Hallstead, 38 miles, reducing line
3.6 miles, cost $10,000,000 to $15,000,000. was com pleted In N o v . 1915.
V . 101. p. 1627.
H IS T O R Y , &C.— Original com pany chartered In 1832, present title aslum ed In 1853
In 1903 purchased entire stock N. Y . & H oboken Ferry Co.
In June 1909 tne 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 Pennsyl­
vania, the railroad stockholders being permitted to subscribe for Its stock
pro rata to the extent of 25% of their holdings. See extra dividend below
V .8 9 , p. 41: V . 90, p .5 5 7 . Quarterly dividends of 2 H % on the coal corn
pany’s stock were begun In Jan. 1910 and 20% extra was paid In April 1913.
V. 90, p. 54. U. S. Supreme C ourt on Juno 21 1915 in the suit brought by
the Governm ent held that the com pany, under the contract o f Aug. 2 1909,
violated the com m odities clause o f tho Hepburn A ct and the Sherman a nti­
trust law (V . 100, p. 2114; V. 101, p. 17), In Its relations with the D . L . & W .
Coal C o. A new contract has been arranged. V. 101, p. 47.
Suit oyer
M orris & Essex loase. V. 100, p. 1509, 1832; V . 102, p. 1896. Anthracite
rato case, V. 101. p . 2072; V . 102, p. 1357.
D IV ID E N D S —
/1904. 1905. 1906-08. 1909.1910-15.
1916.
Since 1885..............(% )\ 17
IBM 20 yearly
70 20 yearly See below
Dividends o f lato years 2 )4 % Q .-J. (10% p . a.) and 10% oxtra December
July 1909 paid special cash dividend 50% one-halt applicable. If desired,
to subscription of stock of new D. L. A W . Coal Co selling agency; also
15% stock dividend paid A ug. 2 1909. and In Deo. 1911 35% In 4 % guar,
•took of Lack. R R . of N. J . V. 89. p. 41. 224: V. 93, p. 1323;V. 94, p .5 4 9.
E A R N IN G S .— 10 m os., (1 91 5 -1 6.Gross, $40,458,656; not. $16,389,614
July 1 to April 30.
\ 1914-15-Gross, 35,492,528; net, 12,898,062
A N N U A L R E P O R T .— Annual meeting Is held on Tuesday preceding last
Friday In February. T he report for 1915 was in V . 102. p . 795.
---------- N e w B a s i s -----------—--------- —O ld B a s i s ------Y e a r e n d i n g D e c . 31—
1915.
1914.
1914.
1913.
Coal . . . .........................$13,364,007 $14,056,674 $14,040,574 $14,418,507
M erchandise freight____ 18,742,617 15,673,086 14,448,308
Passengers_____________
8,218,316
8,541,316
8 ,lo 8 ,4 o 8
8,.>49,346
M all, express and m isc. 4,461,791
4,274,902
2,602,450
2,7z7,238
Grass
$44,786,731 $42,545,978 $39,249,790 $40,784,148
N ot, after t a x e s .............. $14,912,945 $12,591,915 $12,121,918 $13,742,106
C oai department (n et). . *3,443,039 *4,357,008 *4,357,006 *3,184,686
Other misc. incom e____
1,582,974
2,621,433
2,393,331
1,080,942
T otal net Incom e____$19,938,958 $19,570,354 $18,872,255 $18,007,734
$6,301,429 $5,603,350 $5,881,493
Interest and rentals____ $6,070,062
1,879,576
1,299,286
1,299,286
Ronewals & betterm ents 1,616,056
547,050
Discount on bonds s o ld . 1,289,700
6,028.800
8,444,080
8,444,080
Dividends (2 0 % )______
8,444,080
$3,525,559 S3.,525,559 $3,670,816
Balance, surplus_____ $2,519,060
* Earnings ol the coat dept, in 1915, $22,802,210; expenses, $19,359,171;
not, $3,443,039; 1914 earnings. $23,949,079; expensos, $15,592,073; not,
$4,357,006.




[Vol. 102

RAILWAY STOCKS AND BONDS

O F F IC E R S .— Pres., W . H . Truesdale; Sec. and T reas.. A . D. Chambers;
Gen. A u d ., G. E . Hustls.
B O A R D .— E . E . Loom is (V .-P ro s .), W m . H . M oore, H enry A . C . T aylor,
W m . II. Truesdale, Goo. F. Bakor, W m . Rockefeller, G eo. I*. Baker Jr.,
M . T aylor Pyno, Henry It. T aylor, W . II. D odgo, Bookman W inthrop,
William Fahnestock, H arold S. Vanderbilt, J. i
02 i co i
W est S t., N ow Y o rk .— (V . 100, p. 2166; V . 101, p. 47, 1627, 1885; V. 10„,
p. 65, 795, 885, 1896.)
D E L A W A R E M A R YL A N D & VIRG IN IA R ^ — Owns from H arrington
to Franklin City. V a., 78 miles; Georgetown to Itehoboth. D el., 20 miles,
total, 98 miles. Controlled by Phila. Balt. & W ash., which owns S326.200
o f tho $526,758 stock (par $ 2 5 ). In year ending D oc. 31 1915. gross $404.­
012; oper. d e f., $84,841; other incom o, $1,460; Int., & c., $91,673, bal.,
def. for yoar, $175,053.
D E L A W A R E & NORTHERN R R .— East Branch to ArkviUe. 38 miles,
and 8-m ile branch. Inoorp. In N. Y . O ct. 14 1911 as a rcorganlzauon of
the Delaware & Eastern R R ., foreclosed per plan V . 93, p . 588. S tock,
com m on. $1,000,000: 0 % cum . pref., $250,000; par, $100.
F or yoar ending June 30 1915, gross, $125,239; net, after taxes, $5,200,
other Incom e, $11; Int. and rentals, $2,533; b a l., sur., $2,682; loans and
bills payable, $10,000. Pres., Androw M . M oreland; Sec. & T reas..
C lyde O . T a ylor. O ffice, M argaretvllle, N . Y .— (V . 96. p . 1725.)
D E L A W A R E RIVE R R R. & BRIDGE CO.— Frankford Jot., P a., to
Pensauken, N. J .. and branches, 9.52 miles.
C ap. stock. $1,300,000, all owned by Ponn. R R .. which guarantees bonds,
prln. and Int. b y endorsement. V . 03, p. 1082, 1159; V . 89, p. 1596.
D IV ID E N D S —
'00-’05. '0 6 -’07. ’08. '0 9 -’ 10. ’ l l . ’ 12-’ 13. ’ 14. 1915.
Per cent .....................4 y ’ly 5 y ’ly
6
6 y ’ly
5
6 y ly
4
4
— (V . 99, p. 1832; V . 100, p. 2085; V. 101, p . 2071; V . 102. p. 1540.)
DENVER BOULDER & W ESTERN R R .— Boulder to W ard. C olo., 20
miles; Sunset to E ldora.20 miles; branches, 5 miles; total. 51 miles. Reaches
Denver Union Depot from Boulder over Col. & S o.(third rail); V . 80. p. 6o0.
S tock, $300,000, all out: par $100. O f tho bonds ($800,000 authorized
issue), $100,000 are reserved for extensions. Im provem ents, &o. They are
entitled to Int. up to 5% If earned, payable Sept. 1 .beginning 1910.
For year ending June 30 1915, gross, $61,197, against $53,602 in 1913-14,
net incom e, d e f., $3,459, against d e f., $11,410. D iv . on incom es, 3 %
($21,000). paid Sept. 1 1910, and \ ' A % ($10,500) Sept. 1 1911. Pres..
Charles D . M arvin; Sec. & T reas., C . M . W illiam s. O ffice, B ouldor, C olo.
— (V . 89, p . 993; V . 99, p. 1748.)
DEN VER L ARA MI E & N O R T H W E S T E R N R R .— Owns Utah Jet. to
Greeley. C o lo ., 52 miles; trackage (Greeley T erm . B y .) In Greeley, C o lo ..
1.36 m .; Denver & Salt Lake. Denver to Utah J e t., C o lo ., 3.23 m .: total.
56.59 miles. V. 94, p. 1249. 1382, 1565, 1626. M arshall B . Smith of
Denver Is receiver. In Dec. 1915 foreclosure sale was Indefinitely post­
poned. Receivers' certificates and notes o u t, $94,698; other loans and
bills payable outstanding June 30 1915, $263,546.
B o n d h o l d e r s ' P r o t e c t i v e C o m m i t t e e . — Includes W m . Barth and W . E Green
o f Denver, C olo; J. F. Wallace and A . R . Oppenheira o f N ew York. O tto
Huber, R ock Island. 111., and others.
.
Stock auth.. $30,000,000; outstanding Juno 30 1914, $29,072,000; tem ­
porary certs, for $1,409,200 prof, stock, par $100.
Bonds auth., $22,­
600.000. at $30,000 per mile; $808,000 outstanding M ar. 1912 and $450,000
deposited under $225,000 6 m os. notes due N ov. 1912 given to secure ad­
vances by stockholders. Including $125,000 to pay o ff debt and $100,000 to
build extension from Greeley to Severance, and $242,000 under $34,187
notes, the salo o f which was onjolned In 1913. V. 96. p. 789, 947, 1296:
V. 94, p. 697. Car trusts June 30 1915, $62,738. Year ending June 30
1915, gross, $106,694; oper. d e f., $6,421; other incom o, $5,814; in t., taxes,
rentals. A c., $96,433; bal., d e f., $97,040. For 10 m os. ending A pr. 30
1916, gross. $110,445, against $84,018; not, $8,045, against dof. $4,521.—
(V . 100, p. 1751, 2166; V. 101. p. 773.)
DENVER & RIO GRANDE R R .— ( S e e M a p . ) — R O A D .— Mileage:
Of tho preceding:
Road owned and operated-------- 2,435
R io Gr. Jo. R R .. &o. (le a s e d ).. 142 Standard gauge------------------------- 1,795
Narrow gauge o n ly ------------------- 782
T otal operated June 30 1915.2,577 Second tra ck ---------------------------- 209
R io Grande & Southwestern R R .. Lum berton Station, C ol., 33 m . south
easterly. Is operated on basis of 25% o l gross earns. V . 79, p. 907.
Jointly with C olorado & Southern constructed from Southern Jet. to
W alsenburg, 51 m. V . 90, p. 626; V . 93, p. 597; V . 95. p. 623. It is proposed
gradually to electrify tho main line, first Helpor, U tah, to Salt Lake c i t y
114 m ., then Sallda to M lnturn. C o lo .. 87 m . V . 95, p. 1402; V . 97, p. 1420.
H IS T O R Y .— On July 31 1908 tho Itto Grande W&stern was m erged.
V 87 p 226 285. The R io Grande Junction (of whoso stock the greater
part Is owned) Is leased Jointly by this co . and tho C olorado M idland, and
Its bonds guaranteed. V . 95. p. 1541; V * 97. P - 880. T h e C olo. M idland
Is controlled by parties Interested severally In the D . & R . G . and Colorado A
Southern, but see V . 99. p. 342. Rio Orande Sou. has been controlled.
The Missouri Paclflo on Juno 30 1915 owned *17,295,000 com m on and
$9,805,000 prof, stock, the pref. and most o f the com m on deposited under
M o. I’ac. 3-year 5% notes o f 19i 1. V . 72, p. 338, 580, 1238; V . 73, p. 506.
Denver & Itlo Graiulo owns five-sixths o f tho stock and has givon a traffic
and interest guaranty to tho Western Pacific R y . (which soo) as to $50,000.­
000 1 st M . bonds now in default, that road being now in receivor s hands.
T otal investment o f D. Sc It. G . and its subsidiaries In tho W ostorn P acific
is stated as about $55,500,000. Soo plan and claims o f W . I>. com m itteo
In V. 102. p. 155, 160. In 1915 suit was brought to require D .& R .G . t o
meet tho defaulted interest, but com prom ise. V. 102, p. 1346; V. 81, p .8 4 5 ;
V. 83, p. 568. V. 99, p. 406.
, .
T ho stock ($200,000) o f Salt Lako C ity Union D onot & R R . C o . Is about
equally owned by the D . & It. G . and Western Pacific, which guarantee Its
$1,100,000 first m tge. 30-year 5% bonds. V . 8 8 , p. 232.
DIV S. since ’ 911 ’92. '93. ’94. ’95. ’ 96. ’97. ’98. ’99. ’00. ’01 to Jan. ’ l l
on preferred, % _ _ /
0
2
0
0
2
2 2H 4
4
5 yearly.

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RAILWAY STOCKS AND BONDS

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46

RAILWAY STOCKS AND BONDS
M iles
R oad

R A IL R O A D C O M P A N IE S
lF o r a b b r e v ia tio n s , & c ., s e e n o te s o n f i r s t p a g e ]

D en v & S a lt L R R — Stk held In v o t tr $ 3 5 ,0 0 0 .0 0 0 ..
1st M $35,000,000 gold redeem 1 05 --B a .xc*& r*
D o cash lnt: 3 % , 3 yrs; 4 % , 1 yr; then 6 % - . x
D o cash lnt: 4 yrs, 1 , 2, 3 & 4 % , resp.then 5 % .x
Adjustm ent (Income) bonds $2,000,000........... . . x
T w o-year notes $300,000 auth_____________ Em.y
E quip notes g due $25,000 or $24,000 s-an n.E m .xc*
D en ver Un T erm R y— 1st M red 105 beg '19 te x t.C C
D es M oin es & F ort D o d g e — See M inneapolis & St L
Des Moines Union— First M $800,000 g o l d ____Ce.zo*
D et Bay C & W — 1st M $ 1,250,000 g red text s f FC .xc*
Detroit Grand Haven & Milw— First equip M gu__yc*
Consol M guar p & 1 Grand Trunk R y ot Can _ .y o*

text
text
text

4
71
189
189

D a te
B onds

Par
V a lu e

A m ount
O u tsta n d in g

1913 $ ,£ ,fr,& c
£, &c
1913
1913 $. £, &c
1913
$ 1,0 0 0
1915 1,0 0 0 &c
1913
1,0 0 0
1914
1.0 0 0
1887
1912
1878
1878

R a le

W hen
P a y a b le

%

$11,832,500
2.991.000
5
4.427.000
i-4-5
1.734.000
i-3-4-5
2 ,000.000
1 to5%
217.000
6
338.000
5 g
4.0 0 0.
0004 )4 g

1.0 0 0
1,0 0 0
1,0 0 0
200 &c

671.000
550.000
2 .00 0 .
3.200.000

5 g
5 g
0006
6

[Vol. 102.
L a s t D iv id e n d
a n d M a tu rity

M &
M A:
M &
F
F
M

N M a y 1 1943
N M a y 1 1943
N M a y 1 1943
30 years
& A F eb 1 1917
<fc A T o M arch 1923
& S M ar 1 1964

M &
A &
A &
A &

N
O
O
O

N ov
Oct
N ov
N ov

1 1917
1932
141918
151918

P la ces W h e re In te rest a n d
D iv id en d s a r e P a y a b le

Funded, then defaulted
do
do
do
do
N ew York
Empiro Trust C o , N Y
Empire Trust C o, N Y
C ont & C om Tr&SB .Chic
Central Trust Co, N Y
First T r & Sav B k, Chic
New York and London
do
do

Dividends were suspended In order to pay the lnt. due Sept. 1911 to Sept.
1914 on the West Pac. 1st M . 5% guar, bonds. V . 92, p. 1635; V.99,p.406.
BO N D S.— Im p r o v em en t m ortgage abstract In"Chronlole,” V .4 7 , p. 229.
Abstract of R . G. W . 1st mort. was in V. 49, p. 237, and statement to
N . Y . Stook Exohange. V . 50, p. 73; also V. 69, p. 284. Utah Fuel 1st 5s
of 1931; see application to list, V. 78. p. 1171, 1178, 1548. 2015.
Rio G. W . f ir s t c o n s o l. 4s ot 1899, see V. 72. p. 537, 775. 1189.
The refunding mtge. dated July 1 1908 covers the consolidated properties
to seoure an Issue of $150,000,000 bonds, redeemable at 105 to Aug. 1 1913
and 110 thereafter. In addition to a lien on the Denver & R . G. R R ., the
bonds are secured ny two-thirds ($50,000,000) of the stook of the Western
Pacific (V. 102, p. 155, 160). and all the $25,000,00012d mtge. bonds on the
latter. V . 86, p. 1224, 1284, 1529; V. 87, p. 226, 285, 544, 741, 1419;
V . 88, p. 100. 230. 294, 504, 822; V . 89. p. 348, 593; V . 90, p. 848.
The adjustment mtge. (7% oum. Income) bonds authorized in April 1912
(total $25,000,000, present Issue $10,000,000) received their flrst Install­
ment of Interest absolutely on Oct. 1 1912, Sind are since entitled (A . & O.)
to such amount as the board shall determine out of surplus net Income
during the six months ending Dec. 31 or June 30 Immediately preceding,
all arrears. If any, to be paid at maturity or at date of earlier redemption.
Redeemable at 115 any Interest date; 3 !4 % Interest declared, payable semi­
annually from April 1 1912 to and Including April 1 1916. V. 97, p. 728,
1426; V . 101. p. 773. V . 94, p. 911, 1565; V. 102, p. 521.
L A T E S T E A R N IN G S .— From July 1 to April 30, 10 m onths:
10 M o n t h s —
G ross.
N et.
O th er I n c .
C h arges.
B a l.,S u r .
1915-16----------- $20,783,721 $7,506,160 $1,425,959 $5,913,175 $3,018,944
1914-15----------- 18,223,273 5,271,522 1,563.879 5,851,625
983,776
Further deduct 6 mos.* renewal and sink, fun d, $140,402, agst. $135,109.
A N N U A L R E P O R T .— R eport for 1914-15, V . 101, p . 1008, 1018; edi­
torial, p . 976. Com parisons o f Items with earlier year are inaccurate, ow ing
to changes in m ethod o f accounting.
1914-15.
1913-14.
1912-13.
Average miles operated----------------------2,571
2,583
2,555
Total operating revenue......................... $21,823,236 $23,593,641 $24,452,965
N et revenue................ - .......................... $7,533,565 $7,133,072 $7,399,298
T axes and uncollectibles......................... 1,021,958
1,009.508
948.739

The $2,000,000 a d j u s t m e n t m o r t g a g e b o n d s are to be 5 % non-cum . incom es
until the net earnings are 150% o f the full 5 % on all outstanding 1st M .
bonds and also on N orthw . T erm , bonds for tw o consecutive years, but
thereafter fixed 2d M . 5s.
In Feb. 1915 the Issuance o f $300,000 2-year 6 % notes socurod b y 1st M .
bonds taken at 50 was authorized. T o discharge the remainder o f $450,000
floating debt bondholders wore requested to fund their M a y and N o v . 1915
coupons into 1st M . bonds, taking the latter at 75. per plan, V . 100, p . 732.
811 (producing $250,000) and interests identified with tho management
were to fund notes aggregating $163,962 b y taking 1st M . bonds at same
rlce. In N o v . 1915 plan was declared operative, over 9 2% o f the bonds
aving been deposited with Bankers T r. C o ., N . Y .
In this connection
$217,000 o f tho aforesaid 2-year notes were sold to pay floating debt and
$50,000 wero pledged to sceure a $50,000 debt extended for tw o years,
leaving $33,000 2-yoa r notes In tho treasury.
On M a y 1 1916 the 1st M . interest was defaulted and a reorganization
plan -was in preparation providing for the building o f the long proposed
tunnel through the Continental D ivide, this outlet being necessary to the
successful operation o f the property. R eport b y expert M cK enna advises
construction o f new 17-mile cu to ff, including tho 4-milo tunnel, at a cost
o f $2,952,000 and a total expenditure o f $5,266,821 for all purposes to make
passible econom ical operations. I f this is dono in tho noxt tw o yoars, tho
following year, it is estim ated, should show with a coal tra ffic o f 1,026,000
tons gross earnings o f $2,225,697 and net Income, after taxes, o f $824,000,
increasing to $957,000 and $1,104,000 In the next tw o years. See V. 102,
p. 2071. A s o f Juno 30 1915 loans and bills payable were $302,461; car
trusts, $657,502.
Equipm ent notes o f 1913, see V . 96, p . 553, 1088: V . 97, p . 526.

Operating Income.................................... $6,511,607
Other Incom e............................................... 1,241.181

$6,123,564 $6,450,559
1.262,934
1,247.938

T ax accruals___________

$519,526
94,889

$287,931
69,728

$438,336
75,641

$432,582
80,003

T otal net incom e...................................... $7,752,788
Interest on bonds......................................$ 5 ,0 0 7 ,1 0 3
Intereston adjustment mtge. bonds.(7%)689,471
Rentals. &c.................................................
637,484
Renewal f u n d .. ........................
137.732
Sinking fund.......................................
135,313
Appropriations for betterments, &c__
211,045

$7,386,498 $7,698,497
$5,014,536 $5,031,977
611,499
212,463
360.089
359.878
137,722
137,808
126,167
110,000
80,927
389.000

Operating incom e____
Other incom e (n et)------

$424,637
25,253

$218,203
48,210

$362,695
10.458

$352,579
27,797

Gross Incom e_______
R ental o f terminals____
Interest on funded d e b t.

$449,890
109,534
317,0u6

$266,413
109,437
303,016

$373,153
90,440
347,741

$380,376
90,540
285,190

TotaL..........................................................$6,818,148 $6,330,940 $6,241,125
Surplus.........................................................
$934,640 $1,055,558 $1,457,372
O FFICER S.— Chairman of Board, E . T . Jeffery; Pres., H . U. Mudge;
V .-P s., Kingdon Gould and Arthur E . Sweet; Sec., John P. Howland;
Treas., T . H . Marshall, Denver; Asst. Treas., Jesse White. V. 101. p.
1552. 1627. Office. 165 Broadway, New York.
Directors.— Georgo J . G ould, E . T . Jeffery, Kingdon G ould, Arthur
C oppell, Edward D . A dam s, Finloy J. Shepherd and B. B . M cA Ipin, N . Y .;
H . U . M u dge, Denver; B enj. F . Bush, St. Louis, M o .; Edward L . Brown,
D enver, C o lo — (V . 102, p . 153, 521, 885, 1346.)
DENVER & SALT LAKE RR.— Projected from Denver to Salt Lake,
about 575 miles, along a line about 100 miles south of the Union Pacific and
L25 miles north of the Denver & Rio Grande. In 1914 256 miles, Denver to
Craig, was In operation ,lncl. Steamboat Springs to Craig, 42 miles, opened
Dec. 1 1913. V. 95. p. 1403, 1541; V. 96, p. 1088: V . 97. p. 1503.
The electors of Denver on M ay 20 1913 approved charter amendments per­
mitting a tunnel to be built by city through the Continental Divide, for use
under Tease by this and other companies at an estimated cost of $4,420,000,
of which this company Is to pay the cost above $3.000.000. and also interest
qn the city bonds and maintenance and 1% yearly to retire the bonds. City
bonds auth. Feb. 17 1914 were on July 8 1914 declared illegal by the Golorado Supreme Court. V . 96. p. 1488: V . 92. p. 1310; V . 95. p. 1403, 1122;
V . 96. d . 1488, V. 97. p. 1024,1503; V . 98. p. 7 3.610, 762; V . 99, p.119.1597.
O R G AN IZAT IO N .— Incorp. In Colo. Dec. 1912 and took over as of
M ay 1 1913 (per plan, V . 95, p. 890) the Denver Northwestern & Pacific
R y., foreclosed. V. 95, p. 1683, 1603, 1331: V. 96, p. 135, 1296. 1364.
Leases Northwestern Terminal R y., Denver.till Jan. 1 1964. V .9 8 .P .9 1 1 .
STOOK.— Authorized Issue Increased In M ay 1913 from $10,000,000 to
995,000.000. The $35,000,000 Issued is all held In 5-year voting trust ex­
piring M ay 1 1918. V. 96. p. 1088, 1488; V. 99. p. 1597. In Sept. 1915
Newman Erb retired as trustee. President and director. V. 101, p. 1013.
D i r e c t o r s a n d V o t i n g T r u s t e e s (as changed In 1915): Law renceC . Phipps,
Chairman o f board o f directors; Gerald Hughes, Fred. G . M offa t and Chas.
B oettcher o f Denver: W ard E . Pearson, G eo. H . Burr and W . M . W adden. N . Y . V . 101. p . 1464.
B O N D S .— All graduated 1st M . bonds were for the first four years to
receive full 1st M . 5s for the difference between 5 % and the rate payable In
cash.
(1) To bear cash lnt., payable semi-annually as follows: 3 % per
annum for first 3 years, 4 % for 4th year and 5 % yearly there­
after. There was placed In trust $132,810 cash to be applied
In paying 2 % on account of the 3 % lnt. payable for the first
year and 1 % o f the 3 % lnt. payable the 2d year, say_________$4,427,000
(2) To be Issued bearing cash interest, payable semi-annually, as
follows: 1% per annum for first year; 2 % for 2d year; 3 % for
3d year; 4 % for 4th year and 5 % yearly thereafter, say ....$ 1 ,7 3 4 ,0 0 0
(3) To be issued bearing from the outset full 5 % Interest—
For difference cash payment 1% and 3 % graded interest_____ $486,225




E

E A R N IN G S .—-10 m o s .,/19 1 5 -16 ___Gross, $1,580,699; net, $362,694
J u ly 1 to April 30.
1 1 9 1 4 -1 5 ...G ross,
1,372,642; net,
372,581
E A R N IN G S .— F or fiscal yoar and the 10 m onths onding April 30:
(V . 101, p . 1806.)
- F i s c a l Y e a r e n d . J u n e 30----- 10 M o s . e n d . A p r . 3 0 1913-14.
1915-16.
1914-15.
1914-15.
$1,639,455 31,2 07 ,ol7 $1,580,699 $1,372,642
Operating expenses____
919,586
1,142,363
1.119.929
940,060

sur$4,645
sur$23,300 def$146,040 dof $65,028
O F F IO E R S .— Lawrence C . Phipps, Chairman; Charles B oettcher. Pres.;
W . E . M orse, Vlce-Pres. and Gen. M gr.: Gerald Hughes, S ec., and E . I.
Grenfell, A uditor. Denver; William W adden, Vlce-Pres. and Asst. S ec.;
W ard E . Poarson, T rea s.. N ew Y ork. Directors, see above.— (V . 102,
p . 1718, 1811, 1987, 2071.)
(THE) DENVER UNION TERMINAL R Y .— T o take over the Union
D ep ot & R y . C o . (V . 71, p . 343) and extend and Improve the passenger
terminals at D enver, C o lo . Stock $30,000, equally owned b y the Union Pa­
cific, Denver & Rio Grande, C olorado & Southern. C hic. Burl. & Quincy,
A tch. T opeka & Santa Fe and Chicago R ock Island & Pacific which
guarantee the bonds ($10,000,000 auth. Issue), o f which $4,000,000 were
sold to the Union P acific. V . 97. p. 1024.1115; V . 98. p . 762; V . 99. p. 4 06 .
Pres., A . L . M ohler; V .- P ..H . M . M udge; T reas.. Thom as Keeley; Sec. &
A u d .. P . R . M orris. O ffice. Denver. C o lo .— (V . 99, p . 406.)
DES MOINES & FORT DODGE R R .— See M inneapolis & St. Louis R R .
DES MOINES UNION R Y .— Termlnallroad In Des Moines; ow ns4.18m !les
main track and branches, 19 miles 2d and side tracks, bridge across Des
Moines River and 25 acres of land In Des Moines. See statement to N . Y .
Stook Exchange In V . 65, p. 1173. Leased to Wabash R R .. Chicago Great
W estern, C hic. M ilw . & St. P. Ity., C hic. Burl. & Quincy R R . and M lnnoap.
& St. Louis R R . V . 75, p . 342. Rental equal to expenses and fixed chges.
paid m onthly b y lessees on wheelage basis. Stock a uth., $2,000,000; o u t.,
$400,000; par, $100.
Y ear 1914-15, gross, $95,584; net. $85,896: other
Income, $123,469: ln t.. taxes. & c.. $78,901: appropriations for im p ts..
$2,657; b a '., sur., $127,817. Court decision as to ownership, V . 102, p .1346.
D ETROIT BAY C IT Y & W ESTERN R R .— Owns B ay C ity , M ich ., to
P eck, 71 m iles, the extension from Sandusky to Peck, about 11 m ., boing
opened O ct. 1915. S tock, all ou t. $450,000. T ho 1st gold 5s ($1,250,000
auth. issue) are redeemable at par prior to O ct. 1 1922, thereafter at 105.
In June 1916 $90,000 bonds were sold for 11 )4 -m ile extension from
Sandusky to P eck.
T he $700,000 unissued are reserved for exten­
sions at n ot exceeding $8,000 per m ile and 7 5% o f cost o f additional
terminal facilities, provided the annual net earnings aro twice tho Interest
charges, including bonds to be issued. V. 95, p. 1273. Year ended M arch 31
1916. gross. $199,526; net. after taxes, $80,448; int. on $550,000 bonds,
$27,500; bal., sur., $52,948. Pres.. Thom as L . H andy; V .-P res., C . W.
H andy: T reas., G . W . H andy; Sec., F . S. H andy. O ffico, B ay C ity , M ich .
— (V . 102, p. 2254.)
D ETROIT ORAN D HAVEN & M ILWAUKEE R Y — Owns from De­
troit to Grand H aven. M ich ., 189 miles. Real estate bonds, & c., $226,000.
On June 30 1914 sundry outstanding accounts, $4,204,108. Grand Trunk
of Canada owns entire $1,500,000 stock.
E A R N IN G S .— 10 m os., / 1915-16____ Gross, $2,644,423; net, $668,662
July 1 to A pr. 30.
\1014-15........ Gross, 2,137,157; not, 218,992
Y ear onding June 30 1914. gross, $2,558,130; net, after taxes, $247,578:
other Income, $10,475: charges, $671,878: im pts., $114: b a l., d o f., $413,939 .
Year 1914-15. gross. $2,655,552; net, $363,740.— (V . 96. p . 789.)

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Glencoe

CircleviUe'

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phinx'

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B u rn s

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Elkhorn °
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DENVER & RIO GRANDE
I RIO GRANDE WESTERN

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.Watervale

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48

[Vol. 102.

RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES

[F o r a b b re v ia tio n s , & c ., see notes o n f i r s t p age]

Miles Date
Road B o n d s

Par
Value

Amount
Outstanding

Rate
%

When
Payable

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

Detroit Hillsdale & SVV— Stock 4%rentalNYUCentRIt
4
J & J July 5 1916 2%
$100 $1,350,000
65
100 2,000,000 2 K % ’15 J & J July 1 1916 2H
Detroit & Mackinac—Common stock, $2,000,000 auth
950,000 5 In 1915 J & J July 1 1916 2 h
Pref stook non-cum $1,000,000 auth (V 74, p 629)-100
All
1.050.000
“ Flrst lien” $1,500,000 gold________________ Gxo*
4 g J & D June 1 1995
1,000
1895
All
1,000 1.250.000
"Mortgage bonds" $1,750,000 g red at par____Gxc*
4 g J & D June 1 1995
1895
Detroit (Mackinac & Marquette Ry.— See “ Miscellan eous C ompan les.
Detroit Toledo k Ironton—
Common stock $6,500,000_______________________
100 6.500.000
Pref stock (p & d) non-cum 4% & partlc.$0,000.000
100 5.990.000
First M gold red 105_____________________ N.yc*
950.000
1914
5 g J & J Mch 1 1964
1,000
AdJ (Inc) M $8,000,000 g cum aft Jan 19 red text-Ce
100 &c 7,628,868 Up to 5 Seml-an 40 years
Car trusts due s-a $25 M 1915, then $50 M ______ N
A & O 15 To Oct 1917
150.000
6
5,000
1914
Equipment gold notes of 1915 $132,000__________
0004 g J & J Jan 1 1953
Det & Tol Sh L— 1st M $3,000,000 g gu.........Ba.xo*&r
48 1903
1,000 3.000.
A & O Apr 1916 3%
150.000
Dover & Rockaway— Stock 6% rental 990 years___
6
100
4 g F & A Aug 1 1951
Dub & Sioux City— 111 Cent W lines 1st M g-.U s.o*& r
1,000 5.425.000
218 1895
Iowa Falls & Sioux City 1st M Iowa F to SlouxCy._z
A & O Oct 11917
184 1869
7
600 &o 2.800.000
Cher & Dak, C R & C and Omaha Dlv &o first mtge
8.930.000 Illinois C entral bo nds or collatera
328 '88-00
A & O Oct 1 1937
8.151.000
5
Duluth & Iron Range— First mortgage.........Mp.zo&r
210 1887 1,000 &o
1.174.000
Duluth Mlssabc & Northern— First mortgage gold _.z
65 1892
6 g J & J Jan 1 1922
General mortgage gold s f, red 105___________ Nxo*
361 1906
5 g J $6 J Jan 1 1941
i"66o 10.991.000
Duluth Rainy Lake & Winnipeg— See Dul Win & Pac.
A & O Apr 11925
130 1885
1.077.000
6
1,000
Duluth So Sh & Atlantic— Marq H & On gen M-Ce.zo*
Duluth South Shore & Atlantlo 1st M g ..Ce.xc& r
5 g J & J Jan 1 1937
1,000 3.816.000
587 1887
First consol mtge gold Interest guar__ Ce.zo'&r
4 g F & A Aug 11990
1,000 15.107.000
587 1890
Income certs held by Can P ac____________________ z
3.000.
0004
1892
Car trusts held by Can Pacific R y ______________
186,213
5
1896
do
do
do
__________ 1912
17.400
F & A Aug 11917
4
J & D Dec 1 1917
do
do
do due $31,000 s-a_Ce,xc
93,000
1912
do
do
do due $11,000 s-a
x
A & O Apr 1 1923
154.000
1913
i#
Du Winn & Pac— 1st M deb stock guar by Can Nor Ry
J & D June 1 1939
4
£1.473,353
1909
1.000 $2,000,000
Dul RL &Wln 1st M exten'd gred lOO jointguar.ICo*
5 g J & J Jan 1 1921
1906
Durham & So Car— 1st M $300,000 g red 105--MeBa.x
42 1905
5 g M & S July 1 1941
300.000
1,000

DETROIT HILLSDALE & SOUTHWESTERN RR.— Owns Ypsllantl,
Mich., to Bankers, Mich., 65 m. Leased In perpetuity July 1 1881 to the
Lake Shore & Mich. Southern R y.; rental, $54,000 per year— 4% on stook.
DETROIT & MACKINAC RY.— Owns from Bay City, Mich., to Cheboy­
gan, 195 m.; Au Sable division (formerly A. S. & N. W. R R .), 50 m.; Rose
City Branch. 31 m.; Prescott Branch. 12 m.; Lincoln Branch, 14 m.; Au
Gres Branch. 8 m.; Alabaster Branch, 4 m.; Hillman division. Alpena to
Hillman, M ich., 22 m.; Rogers City Branch. 14 in.; logging branches
(largely temporary), 46 m.; total, July 1 1915, 397.12 m. In 1914-15. for­
est products, 33.04% of traffic. Henry K.McHargandassociatescontrol.
BONDS.— "Mortgage bonds” for $500,000 were reserved for betterments,
&o., at not over $50,000 per year. V. 74, p. 629. In addition to the
amounts shown above as outstanding, $450,000 "first lien” and $500,000
“ mortgage” bonds were on June 30 1915 held In the treasury.
D IV ID E N D S.— On prer., 2>4 % July 1 1903: since to July 1916, 5% y'ly.
On common In 1911 to July 1916, 5% yearly (except July 1915 none).
LATEST EARNINGS.— /1915-16___ Gross, $958,955; net, $230,040
10 mos., July 1 to Apr. 30.(1914-15___ Gross, 905,115: net. 179,829
RE PO RT.— Report for year ending June 30 1915, In V. 101, p. 1623,
In 1914-15, gross, $1,077,317: net Inc., after taxes. $264,410; lnt. on bonds,
$92,000: miscellaneous, $6,496: pref. dlv. (5 % ), $47,500 com. dlv. (2 H % ).
$50.0°0; balance, $68,414, which was used for additions and betterments,
&c. In 1913-14, gross, $1,210,333; not, $318,873.— (V. 101, p. 1623.)
DETROIT TOLEDO & IRONTON R R — Road from Detroit, M ich., to
Ironton, via Lima, 389 m .. Including 45 m .o f trackage; branches Kingman
to Sedalia, O., 31 m.; Jackson to Cornelia, 19 m ., and Lisman Jet. to Dean.
0 ., 3 m . ; total. 441m .; coal mine tracks, sidings, &c.. 154 miles. Incorp.
in Delaware on March 1 1914 as successor, per plan V. 97, p. 1821, of the
Railway o f the same name, foreclosed April 17 and June 28 1913.
BONDS, &C.— Under the plan, the fixed charges after $1,000,000 of new
1st M . bonds shall have been disposed o f to provide for the rehabilitation,
&c., will be only $50,000 per annum, or about $113 per mile of owned and
leased mileage, comparing with formerly about $1,770 per mile o f owned and
leased mileage. When traffic conditions justify, another $1,000,000 of 1st
M . bonds may badisposed o f for improvements and additions.
5 0 -y e a r 1st g old 5 s . — The issue under the mortgage is not limited,
but $1,000,000 thereof will be disposed of solely to rehabilitate the property
and provide for equipment and payment o f equipment lions, and an addi­
tional $1,000,000 solely for improvements and additional facilities. Fur­
ther 1st M . bonds may only be issued thereafter from time to time, under
carefully guarded restrictions, for Improvements, extensions, &c.
A d ju s t m e n t M o rtg a g e B o n d s ($8,000,000 authorized).— Entitled to Inter­
est, payable semi-annually, at such rate, not exceeding 5% per annum, as
the surplus or the net income as defined in the mortgage shall suffice to pay.
The interest will be c u m u la tiv e from Jan. 1 1919. but there will bo no right
of foreclosure until maturity o f the principal of the bonds. They are calla­
ble as a whole with interest as follows: At 70% during f i r s t year, at 75%
in 2d year, at 80% In 3d year, at 85% In 4th year, at 90% In 5th year and
at par th erea fter. Until the full 6% int. shall have been paid for 2 successive
years and at least for 5 years from date of the mortgage, the holders have
the right to cast one vote for each $100 face amount at all meetings of the
stockholders, but this right may, at the option of the new company, be
terminated upon its agreement to pay the interest thereon absolutely.
In Oct. 1915 proposed to Issue $132,000 equip, gold notes and also to
orrow $33,000 b y pledge of $50,000 1st M . gold bonds for purchase of
200 now freight cars.— V. 101, p. 370.
EARN INGS.— 10 mos., (1915-16____ Gross, $1,814,018; net, $428,894
July 1 to Apr. 30.
(1914-15........Gross. 1,515,638; net,
18,945
R E PO RT.— For year ending June 30 1915 (under recoivershlp till
Feb. 28 1914) In V. 101, p. 1267, showed surplus corporate income above all
charges o f $43,796 for tho first 4 mos. o f tho new company ending June30
1915. as against a deficit in corporate Income for previous 8 mos. period.
P e r io d
C o vered —

G ro ss
E a r n in g s .

N et
E a rn in g s .

Other
In c o m e .

I n t .,R e n t s ,
B a la n c e ,
T a x e s ,& c . S u r . o r D e f .

Last 4 mos. 1915$488,440
$88,903 (Not
$45,107 sur. $43,796
1st 8m os. 1915.. 1,279,140
47,233 shown)
223,162 def. 175,929
Year 1914-15--. 1.767,580
136,136 a45,981 x314,251 def. 132,134
Year 19 13-1 4-.. 1,513,953 loss776,362 ................................ ...............
a Rents of track $36,944: other rent, $3,030; interest, $5,507. x In­
cludes interest on funded debt and receiver’s certificates, $61,632; hire of
equipment, debit balance, $140,842; taxes, $61,315; ront of tracks,
$40,610; miscellaneous, $38,532.
Directors: James M . Kurn (Pres.), Detroit; William Church Osborn
(V .-P .), N. Y .; Otto T . Bannard, Sidney O. Borg, Frederick H. Ecker,
Harry Forsyth and William J. Maloney. Frederick H. Osborn Is Sec. &
Treas. Office, Boyer Campbell Bldg., Detroit, Mich.— (V. 102, p. 608.)
DETROIT & TOLEDO SHORE LINE RR.— Extends from Toledo to
(suburbs of) Detroit, 47.6 m.; 2d track, 20 m.; sidings, 3 m.; trackage over
Toledo Ry. & Term. Co., &o.. 31 m.; total track, 101.6 m. V. 78. p. 2598.
The Grand Trunk Western Ry. and the Toledo St. Louis & Western RR.
own the entire $1,428,000 stook and Jointly guarantee the bonds, principal
and Interest, by endorsement. See form of guaranty, V. 76, p. 653. First
dividend, 4% , paid from earnings prior to June 30 1908: in fiscal year
1908-09. 0 % , and in 1909-10. 1910-11. 1911-12, 1912-13 and 1913-14, 8% :
also In 1911-12, 8% and in 1913-14 $630,000, from accumulated surplus,
paid in 1st M . 4s); 1914-15, 8% and 6% extra. V. 99. p. 1366.
EARN INGS.— 10 mos., (1915-16........ Gross, SI,444,962; not, $761,525
July 1 to Apr. 30.
\ 1914-15........ Gross, 1,241,573; not, 556,176
Year 1914-15, gross, $1,471,160; net Income, $001,594; lnt., rentals, &c.,
$422,913: divs. (8 % ). $114,240; bal., sur., $127,258. In 1913-14, gross,
$1,544,330; net. $712,224. Pres., Walter L. Ross.—.(V. 99, p. 1366.)
DUBUQUE & SIOUX CITY RR.— [S e e M a p of Illinois Central.)— Owns
Dubuque, Iowa, to Iowa Falls, 143 miles: Iowa Falls to Sioux City, 184 m.;
Manchester to Cedar Rapids. 42 m.; Onawa, Iowa, to Sioux Falls, Dakota,
155 m.; Cedar Falls to Minnesota State Line, 76 m.; Tara Station, near Ft.
Dodge, la., to Council Bluffs 130 m.; total owned, 730 mites.




Farmers' 1. & Tr Co. N Y
H K McHarg, New York
do
do
J P Morgan & Co, N Y
do
do

Now York Trust Co
Bankers Tr Co, N Y
143 Liberty St New York
Office 32 Nassau St, N Y
do
do
1 therefor
Office Empire Bldg, N Y
Company’s office. N Y
55 Wall St, New York
do
do
New York or London
Held by Canadian Pacific
Held by Canadian Pac
Chicago, 111
Wm. I . Read & C o.,N .Y .
Cont&ComT&SBk. Chic
London or Toronto
Chase NatBk.NY: & Chlo
Merc Tr & Dep Co, Balt

ORGANIZATION.— Controlled since April 1887 by the Illinois Central
R R ., which owns nearly all the $11,759,500 stock and lias Issued its own
bonds on the road; the only D. & S. C. bonds held by the public arc tho Iowa
Falls & Sioux City 7s. $2,800,000. Lease, V. 79. p. 1274; V. 89, p. 470.
DULUTH & IRON RANOE R R .— Owns Duluth to Winton, M inn.,
120.12 m.; Tower Jet. to Tower, 1.40 m.; Allen Jet. to Virginia, 24.48 m.!
McKinley to Eveleth, 9.05 m.; Waldo to Winton, 15.02 m.; Mesaba to
Dunka River, 18.29 m.; Robinson to Burntslde Lake, 3.16 m.; other
branches. 12.22 m.; branches and spurs, 83.23 in.; trackage to Union Depot,
Duluth, 0.80 in.; total, 286.97 miles. Second track and sidings, 248.23 m.
Owns ore docks and yards on Lake Superior costing over $1,500.000.
STOCK, &o,—Stook. auth., $10,000,000; out., $6,500,000. Federa
Steel Oo. (see U. 8. Steol Corp.) owns tho stock. The $4,500,000 2d M .
6s wore paid o ff Jan. 1 1916 out of earnings. First mtge., auth., $25,000
per mile for construction and $7,000 for equipment. Dividends since 1904:
1905, 65%; 1906, 40%: 1907, 80%: 1908, 80%; 1909, 145%; in fiscal year
1909-10, 100%; 1910-11. 135%; 1911-12 and 1912-13, 90%; 1913-14, 75%:
1914-15, 20%.
EARNINGS.— 10 mos., f 1915-16___ Gross, $1,528,113; not, $1,737,317
July 1 to Apr. 30.
11914-15___ Gross, 3.276,411; net,
032,314
R E PO RT.— For year ending Dec. 31 1915, V. 102, p. 1806, gross earn­
ings were $5,966,931; net, $2,742,839: other income, $249,435; Int. and
charges, $965,828: dividends (50% ), $1,500,000; bal., sur., $526,445. In
1914, gross was $4,534,003 and net$ 1,357,872.— (V. 102, p. 1806.)
DULUTH MISSABE & NORTHERN R Y .— Owns from Stony Brook to
Mountain Iron, Minn., 48.32 m.; Mlssabe Jet. to Columbia Jet., 29.34 m ;
Iron Jet to Blwabik, M inn., 15.37 m.; W olf to Hlbblng, Minn., 17.26 ro.;
Wolf to Virginia, M inn., 6.30 m.: Hull Jet. to Hull Rust Yard, Minn.,
18.15 m.: main line branches, 36.50 m.; branch from Alborn northwesterly
to Coloralne, Minn., 53 miles; other branches and spurs, 142.88 miles; sec­
ond track and sidings, 309.40 miles; trackago to Union Depot, Duluth, 1.9
miles, and Missabe Junction to Spirit Lake Transfor Connection, M inn.,
5.7 m. Also leases from Spirit Lake Transfor R y. and Interstate Transfer
R y., 24.96m ., with ’ 62 m. brandies and spurs and 8.94 m. yard tracks and
sidings. Owns extensivo ore docks at Duluth. Entire $4,112,500 stock
controlled by U. S. Steel Corp.
BONDS.— Of the gen. 5s of 1906, bonds are reserved to retire the under­
lying bonds; additional bonds may be Issued at not over $30,000 per mile for
additional single main track and $20,000 for second, third and fourth main
tracks and for not over 75% of cost of improvements, &c. Sink, fd., 2% yly.
(lnd. bonds In s. f.) retires by lot at 105. V.8S,p.822; V. 98. p. 1693, 1844.
The last First Consol 6s were paid Fob. 1 1916. V. 102, p. 345.
DIVIDENDS paid fiscal years ending June 30: 1904, 150%: 1906. 110%;
1908.110%; 1909, 145%; 1910. 240%; 1911,125%; 1912.100%; 1913, 85%;
1914. 75%: 1915, 10%.
R E PO RT.— For year ending Dec. 31 1915, V. 102, p. 1806: Gross earn­
ings, $9,909,549; net, $5,523,946; other incomo, $187,701; interest and
chargos, $1,152,422; dividends (75% ), $3,084,375; bal., sur., $1,474,850.
In 1914 gross was $4,999,184; net, $1,372,020.— (V. 102, p. 1436, 1806.)
DULUTH SOUTH SHORE & ATLANTIC R Y — Operates Duluth to
Sault Ste. Marie, 419 miles; “ Soo” Junction to St. Ignaoe, 43 miles; other,
144 miles: total. 630 miles, Including 24 miles of trackage.
CAPITAL STOCK.— Common, $12,000,000; pref. 6% non-oum., $10,­
000,000; par, both $100, Can. Pac. July 1 1915 owned $6,100,000 oom. and
$5,100,000 pref. stock, $3,000,000 Incomes and $15,107,000 consols.
BONDS, &o.—Abstract f i r s t m o r tg a g e , V. 45, p. 274.
The first consolidated mortgage of 1890 has Interest at 4% , guaranteed
by Can. Pac., which July 1 1915 ncld the entire outstanding Issue ($15,107,­
000) In Its treasury as security for Its 4% debenture stock; consols for $4,­
893,000 are reserved for prior bonds, and additional amounts may be Issued
at $20,000 per mile of new lines. Due Canadian Pacific Ry. June 30 1916
for guaranteed Interest advances. 88,637,915. Car trusts of 1896, $186,213.
Loans and bills payablo, June 1 1916, $850,000; car trusts, $481,613.
LATEST E A R N I N G S .— (1915-16...G ross, $2,852,004; not, $840,895
10 mos., July 1 to A p r . 30.(1914-15--.Gross, 2,393,248; not, $438,542
Deficit, after charges, 6 mos., $12,244, against dof., $248,552, In 1914.
REPORT.— Report for year ending June 30 1915 In V. 101, p. 1009.
Of the tonnage In 1914-16, ores furnished 34%. lumber, <Sco., 30%.
Y ea r—

G ro ss.

O p e r . I n c . O th er I n c .

C h a rg es.

B a l .J O e f .

1914-15.................... $2,938,597 $339,342 $40,707 $937,192 $557,083
1913-14 ..................... 3.495.645 405,791
20,819
983,599
650,989
Pres., A. B. Eldridge, Marquette, Mich.— (V. 101, p. 1009.)
DULUTH WINNIPEG & PACIFIC RY.— Owns entire $2,000,000 stock
of Duluth Rainy Lake & Winnipeg R y., Virginia, Minn., north to the Cana­
dian Northern at International Falls, 98 miles, giving that road access
to Duluth and Two Harbors; Virginia to Duiuth, 81 miles. Capital
stock auth., $6,000,000; par. $100.
Controlled by Canadian Northern
R y., V. 98, p. 1601; V. 102, p. 152.
SECURITIES.—The first mtge. 4% deb. stock of 1910 Is guar., p. & I., by
tho Canadian Northern Ry. Of tho $10,500,000 auth. issuo, £1,473,353
has been soid, $1,525,000 was Issued to retire oxistlng securities, $2,­
000,000 is reserved to retire tho Duluth Rainy Lake & Winnipog bonds (ex­
tended in 1916 to 1921), tho remaining bonds to bo available for further ex­
tensions, &c. On payment of D. R. L. & W. bonds In 1921 its property
will bo transferred to the company, so that tho dobonturo stock will bocome
a first charge on 173 miles, tho D. R. L. & W. stock in tho meantime being
vested with the trustees, the National Trust Co. o f Toronto and tho British
Empire Trust Co. V. 102. p. 152; V. 90, p. 1490; V. 91, p. 154, 1322.
The $2,000,000 Dul. Rainy Lake & W. ponds wore oxtondod In 1916
to Jan. 1 1921 (callablo at par & Int.) with tho unconditional guaranty o f
prin. and int. of Dul. Winn. & Pac. and Can. Nor. V. 102, p. 152.
EARNINGS.— 10 mos., (1915-16____ Gross, $1,421,132; net, $160,043
July 1 to Apr. 30.
(1914-15_____Gross. 1,099.474; no', $200,431
EARNINGS.— For year ending June 30 1915. gross, $1,285,548; not,
$314,393; otb>r income, $1,789; interest, taxes, &c., $662,511; bal., def..
$346,328.— (V. 102, p. 152.)

RAILW AY STOCKS AND BONDS
J u n e , lu io .j




50

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b re v ia tio n s , A c . , see notes on f i r s t p a g e . ]

Durham Union Station— First M $75,000g-_G.xo*&r
Dutchess County RR— See Central New England Ry
East Broad Top RR & Coal— 1st M ext 1908_____
2d M Incomes____________________________________
Shade Gap 1st mortgage_______________________ c*
East Carolina Ry— First mortgage 5300,000 gold___ x
East Mahanoy RR— Stook_________________ ________
East Pennsylvania— Stock 6% guar 999 yrs Phila & R
First mtge gold guar p & 1 by P&R RR (end) kvo*
East Tennessee Virginia & Georgia— See Southern Ry
Bast Tenn & VV No Car— 1st M g (V 81 p 1723) GuP.zo
Eastern Ry of Minnesota— See Great Northern
Edm onton Dunv & Br Col— 1st M deb stk gu see text
El Paso & Northeast— N A! Ry & C col tr g red 105-Nx
N A1 Ry Sc Coal AI g o l d _____________________ Eq.x
Alam & Sao Mt first mtge 5900,000 gold guar__ Nx
El Paso Sc Rock Isl 1st M $2,500,000g guar._Eu.xc*
Dawson Ry Sc Coal coll trust gold guar p & l.Eu.xo*
El Paso & S VV RR— 1st & Ref M g $25,000 p m __ F
El Paso Union Pass Depot— 1st Af g 5240,000 sf.Eq.x
Elgin Joliet & Eastern— 1st AI (510,000,000) g.Cex.o*
Elizab’ tht’n Ter Co— 1st AI 5150 000 redl05 begApr’ 15
Elkin & Allcg— 1st AI elred 107 Y , ______________Ba.x’ c
1st & Ref M $3,750,000 gold........................Col.xx
Income bonds $750,000___________________ Col.xx
Elmira & Lake Ont— Sodus Bay Sc So— 1st AI g.U n.xc
Elmira & Williamsport— Stock com 5% rental____N.o
Preferred stook 7% rental 999 years Northern Cent
First mortgage extended 1 9 1 0 _______________ kv
Income bonds 999 years to run________________ xc*
Erie ft Pittsburgh— Stook 7% rental 999 yrs Penn'Co.
Special guaranteed betterment stock $2,500,000. .
General mtge (now 1st) $4,500,000 gold guar.Un.k
Erie Railroad— Common stock 5153,000,000 auth___
Second pref stook 4% non-oum redeemable at p ar..
First pref stook 4% non-oum redeemable at par__
A—<)ld Bonds Assumed— Roads Consolidated
N Y * Erie 1st AI Plerm to Dun ext 1897 gold.xo*
Second mortgage (extended In 1879) gold____zo*
Third mortgage (extended In 1883) gold_____zo*
Fourth mortgage (extended in 1880) gold____zo*

M ile s
R oad

D ate
Bonds

Par
V a lu e

Am ount
O u ts ta n d in g

...

1905 $l,000&o

49
49
1C
38
__
36
36

1908
1908
1908
1906
____
1888

34 1905
357
165
___
31
128
133
458
4K
181
8
•- __

1912
1897
1901
1898
1901
1901
1915
1905
1891
1910
1911
1914
1911
34 1884
73 H
73 Y
1S60
73 Y
__ 1863
83 ____
83
83 1890

447
447
447
475

1847
1849
1853
1857

R a te
%

[Vol. 102

W hen
P a y a b le

$60,000

5g

M & N

1,000
100 Sec
500
1,000
50
50
1,000

500,000
464,400
92,500
300.000
497,750
2,126,900
495,000

4
4
4g
4g
5
6
4g

J Sc
J
J &
J Sc
J &D
■T Sc
M Sc

1,000

500,000

5g

£1.438,356
1,000 3.000.000
1,000
1,792,000
1,000
322,000
1,000
2,500,000
1.000 3.000.000
1,000 8.055,000
1,000
228,000
1,000 10,000,000
1,000 See text
1,000
192,000
400,000
80,000
1,000
500,000
50
500.000
50
500.000
1,000
963,000
500
570.000
50 2,000.000
50
1.716,050
1.000 3,988,000
100 112,378.900
100 16.000,000
100 47,892.400

4
5g
5g
5 g
5g
5g
5g
5g
5g
6g
6 g
6g

£ 1 tec

1,000
1,000
1,000
1.000

DURHAAl & SOUTH CAROLINA R R .— Durham. N. O., south 42
miles to Duncan on Norfolk & Southern. Stock. $360,000: par, $100.
Bonds, see table. Year 1914-15, gross. $91.039: net, $35,883; int. on bonds
$15,000; surplus, $20,883. Pres., Ernest Williams, Lynchburg, Va.
— (V. 90, p. 1424.)
DURHAM & SOUTHERN R R .— East Durham to Dunn, N . G.. 57 m.;
Durham to East Durham, 2 m. Stock authorized. $2,000,000; out., $1.­
350,000; par, $100. For the year ending June 30 1915, gross, $294,617;
net, $170,436. In 1913-14, gross, $326,843; net, $162,080; other income,
*2,683; tax„es- 516.250; charges, $11,726; dlvs. (11% ), $189,000; surp. from
1913, $94,301. Dlvs. o f 24% were paid in 1910-11: in 1911-12, 24% ; In
1912-13, 14%, and in 1913-14, 11%. Pres.. B. N. Duke, N . Y .; Sec.,
A. B. Cauther. Office, Durham.
DURHAM UNION STATION CO.— Owns passenger station at Durham1
N. C., opened Alay 1 1905 and used by the Southern Ry., Seaboard Air Line
R y., Norfolk & Western Ry. and Durham & Southern, which each own onefourth of 533,300 stook. Lease provides for rental by several lines sufficient
to pay Int. and other charges
Pres., H W. Allller; Sec., C. N. Freeman.
EAST BROAD TOP RR. & COAL CO. (Pa.)— Owns from Alount Union,
Pa., to Woodvale, Pa., 31.81 miles; Orbisonia to Neelyton. Pa., 10 m.;
Rocky Ridge to Evanston, Pa., 4.93 m .; Coles to Midvalley, 2.56 m .; total,
49-30 m. A coal road opened in 1874. V. 97. p. 1603, 1822. Stock,
$938,825 (par $50), o f which $246,750 is 6% non-cum. pref. Second mtgo.
4% Income bonds, $464,400. due Jan. 1958, given in 1908 for back Interest
from 1886. Year 1914-15, gross, $315,410; net, $166,544; other income,
$11,988; Int., taxes. &c., $53,786: bal., sur., $124,745. Office, 406 Lafay­
ette Bldg., Phila.— (V. 77. p. 145; V. 97. p. 1663, 1822, 1370.)
EAST CAROLINA RY.— Owns Tarboro to Hookerton, N. C., 38 miles.
Incorporated In North Carolina July 1 1898. Leased to Pres. Henry C.
Brldgers for 4% yearly on stock, payable Deo. 10- Stook auth., $200,000;
outstanding June 30 1915, $55,500; par, $100. Bonds, see table above.
For year onding June 30 1915, gross, $68,505: net, $19,115; other income,
$9,199; int., &c., $28,314: balance, none. Pres., Treas. & Gen. Mgr
Henry C. Bridgens; V.-Pres., John L. Bridgens; Sec., Haywood P. Foxhall. Office, Tarboro.
EAST MAHANOY RR.— Owns from East Mahanoy Junction to St.
Nicholas and branches, 11.35 m.; 2d track, 4.26 m.; total track 2 1 .0 0 mRe-leased Deo. 1 1896 for 999 years to Little Schuylkill Nav. R R . & Coal Co.
at 5% on stock,and lease assigned to Phila. & Reading R y. Of the stook.
$ 2 8 0 ,0 0 0 was deposited by Reading Co. under Its general mortgage.

2,482,000
2,149,000
4,617,000
2,926,000

L a s t D iv id e n d
a n d M a t u r it y

P la c e s W here In terest a n d
D iv id e n d s a re P a y a b le

Guaranty Trust Co, N Y

J Jan 1 1958
406 Lafayette Bldg, Phil
J July 1 1958
do
do
J July 1 1958
do
do
J 1936
Safe Dep Sc Tr Co, Balt
15 Junol5 1916 2 M Reading Term, Plilla, Pa
J Jan 18 1916 3%
do
do
S Alch 1 1958
do
do

M Sc N Nov 1 1935

Guar Tr & S D Co, Phila

F
A
A
A
J
J
A
J
M
A
J
M

Lloyds Bank, Ltd., Lond
Equitable Trust Co, N Y
do
do
do
do
do
do
do
do
Farm L & Tr Co, N Y
Equitable Trust Co, N Y
71 Broadway, New York
Glens Falls Trust Co
I M Taylor & Co, Boston
Columbia Tr Co, N Y
Columbia Tr Co, N , Y
Nat Bank of Comm, N Y
Broad St Station, Phila
do
do
do
do
do
do
Union Trust Co, N Y
do
do
do
do

& A16
Sc ()
Sc o
Sc o
Sc J
Sc j

&

Feb
Oct
Oct
Apr
*

16 1942
1 1947
1 1951
1 1928
1 1951

o

J
N
O Apr 11940
J
& N
1 1944
5 g ' J Sc ■T
5
M Sc N
7
J Sc J
4
J Sc J
1 1950
5
A Sc O
7
Q—M
7
Q—M
3M g J Sc J
Sc
Sc
Sc
Sc.

2% J P Alorgan Sc Co, N Y
do
do
2%
4g
5g

M Sc N
M
S
Sc S
A Sc o

4Y g M

5g

1914-15.
S
Oper. revenue..7,788,736
Net, after taxes.2,623,580
Other in com e...1,405,121

1 1920

do
do
do
do

do
do
do
do

1913-14.
1914-15. 1913-14.
$
D ed u ct —■
$
$
9,083,060 Rentals, &c____ 2,013,443 2,112.671
2.896,919 Interest, &c____ 202.611 174,295
1.399,765 Dividends (5%).1.250.000 1.236.884

Total...............4.028.701 4.296.684
Bal., sur.......... 562.647 772.834
EARNINGS.— 10 m os.,/1915-16.-Gross, $8,612,905; not, $3,255,581
July 1 to April 30.
11314-15.-Gross, 6,343,266; not, 2,114,465
N . Y . office, 99 John St. V. 87, p. 1605.
EL PASO & SOUTHWESTERN R R .— Owns from El Paso. Tex., to
Tucson, Ariz., 458 miles. Forms tho wostern division of tho El Paso &
Southwestern system (see El Paso & Northeastern Co. above). Its $14,000,­
000 stock being held in tho treasury of the El Paso & Southwestern
C o m p a n y . V. 101, p. 287; V. 100. p. 549: V. 101, p. 2144, 2151.
A n n u a l R e p o rt .— See V. 101, p. 2144.(— V. 101, p. 287.)
EL PASO UNION PASSENGER DEPOT.— Owns depot at El Paso, Tex.,
which was completed about Nov. 1 1905. Leased by El Paso Northeastern,
El Paso Southwestern, Galveston Harrisburg <3c San Antonio (So. Pao. Sys.),
Atoh. Top. Sc Santa Fe, Texas Sc Pao. and Alex. Cent, railroads on a wheelage basis providing for maintenance and all charges. Stock authorized.
$240,000; outstanding, $88,800; owned equally by six roads named. O f
bonds (see table above), $12,000 mature Jan 1 yearly, beginning 1916.
V. 78, p. 104; V. 81, p. 10-13. Pres., G. F. Hawks; Sec., \V. It. Martin;
Treas., U. S. Stewart.— (V. 82, p. 1496.)
ELGIN JOLIET & EASTERN RY.— Owns from Waukegan, 111., on Lake
Michigan, via Spaulding and Joliet, to Porter, Ind., 129.95 miles, and
branches Normantown to Aurora, 9.63 m.— Walker to South Wilmington,
III.— 32.72 miles; Hammond to Whiting, Ind., &c., 6.92 miles; Griffith to
Cavanaugh, Indiana, 7.03 miles; Rockdale Junction to Rockdale, 6.54
miles; Cavanaugh to Shearson, Indiana, 2.18 miles; total main line
owned, 194.96 miles; spurs to coal mines, &o.( 41.16 miles; track­
age, 244.05 miles; 2d track, 41.65 m.; side and yard tracks owned, 161.88 m.;
total, 683.70 miles. Also leases Chic. L. S. & East., 18.73 m., with 438.88
m. branches and spurs and 14.87 miles 2d track for 60 years from June 1
1909, and, with the U .S. Steel Corp., guarantees Its $9,000,000 4 Y % bonds,
D&l. V. 89, p. 1410. Controlled by U. S. Steel Corporation.
STOCK.— $10,000,000, as Increased from $6,000,000 In June 1909; par,
$100. Dividend, 4% yearly (In Deo.) In 1899 to 1915.
E A R N IN G S — 10 m os.,/1915-16..G ross, $10,893,939; not, $4,475,600
EAST PENNSYLVANIA RR.— Owns Reading, Pa., to Allentown. Pa..
July 1 to AprU 30.
( 1914-15..Gross,
6,839,889; not, 2,172,703
35.77 miles; miles 2d main track, 34.64; all track, 98.82 m. Leased for 999 Y r . e n d . J u n e 30. G r o s s .
N e t.
Other I n c .
C h a rg e s .
S u r p lu s .
years from M ay 1 1869 to tho Phila. & Reading RR. at a rontal of 6% per 1914-15_____$8,541,354
$2,808,051 $131,600 $1,817,891 $1,121,760
ann. on the stock and interest on tho bonds. Leaso assumed in 1896 by tho 1913-14......... 11,252.392
3,064.142
3,070,291
135,278
------- ---141,427
Phila. & Read. Railway Co. Of the stock, $1,275,300 was owned by Read, 1912-13......... 13,350,782
3,051,630
5,434,382
120,810
2.503,563
ng Co. June 30 1915, $1,271,450 being deposited under gen. mtge. of 1897
1911-12......... 10,720,751
4.294,150
86,353
2.426.454
1.954,049
Pres., A . F. Banks.— V. 89, p. 1410.
EAST TENNESSEE & WESTERN NORTH CAROLINA RR.—A narrowgauge road from Johnson City, Tenn., to Cranberry, N. C., 34 m.; also John­
ELIZABETHTOW N TERMINAL R R .— Projected from W ostport.
son City to Hampton, Tenn., 15 m ., third rail. Controlled by Cranberry N. Y ., on Del. & Hudson, to Elizabethtown, 8 m. In Sept. 1914 work
Iron & Coal Co. The same Interests In 1913 purchased Llnvllie River R y., had been held up by litigation between company and contractors. Stock.
Cranberry to Plneola, 12 miles, 3-ft. gauge. V. 96, p. 1156, 1296.
$80,000; par $100. Pres., G. \V. Jenkins, Ellzabothtown.— V. 90. p. 1362.)
Capital stock, $490,800. Dividends, 4 % paid since 1908-09; in 1 90 9-1 0
ELKIN & ALLEGHANY RY.— Under construction by the State of
8% ; 1 91 0-1 1. 9 % & 1 0 % extra; 1 91 1-1 2, none; 1 9 1 2 - 1 3 .1 8 % : 191 3 -1 4 ,
17%: 1914-15, 1514%; 1915-16, 1314%>• For year onding Juno 30 1915, North Carolina from Elkin, N. G., to Sparta, 37 miles, of which Elkin to
gross, $190,464; not, after taxes, $73,405; other incomo, $9,349; intorost, Veneer, 15 miles, completed June 30 1914. O. B. Penney and M . W .
&c., $30,366; surplus, $52,388. In 1913-14, grass, $211,386; not, after Thomson wero mado receivers In Dec. 1915. Stock authorized. $3,000,000;
outstanding, $436,400: par, $100. Of the First & Ref. gold 6s ($3,750,000
taxes, $87,440. Pros., F. P. Howe, Johnson City.— (V. 96, p. 269.)
auth.). Issuable at $12,000 per m ile,$192,000 aro reserved to retlro tho 1st 6s.
EASTERN KENTUCKY R Y .— Riverton to Webbvllle, K y., 36 miles. Of tho incomo 6s $120,000 havo been issued; romaindor Issuable at $5,000
Stock, common. $1,697,800; pref., $1,779,500; par. $100. No bonds, per mile. Pres., John A. Mills, Raleigh, N. C.; V .-P ., II. G. Chatham,
Loans and bills payable June 30 1915, $83,657. Year 1914-16, gross. Winston-Salem, N. G.; Sec. Sc Troas., Alox. Chatham Jr.— (V. 102. p. 66.)
$45,486; oper. deL, $11,824: other income, $616; deductions. $3,422; bal..
def., $14,630. Pres., O. M inot Weld.— (V. 90. p. 1362.)
ELMIRA & LAKE ONTARIO RR.— Owns from Canandaigua. N. Y .. to
Ohemung Jot., 64 m.; Sodus Point to Stanley, 34 m.; other. 2— total, 100 m.
EDMONTON DUNVEGAN & BRITISH COLUMBIA R Y .— From Leased at cost of operating to tho Northern Central, which owns all the
Edmonton. Alberta, through Dunvegan to the wostorn boundary o f tho $1,500,000 stock. Lease may be terminated on 30 days’ notice.
Provinco, 357 miles, completed about N ov. 30 1915. A now branch, ex­
C a l. Y e a r —■
G ro ss.
N et.
I n t ., A c .
B a la n c e .
tending from Carbondalo, Alberta, northward to Lac la Bicho, Alberta
113.2 miles, was opened for traffic in Feb. 1916. V. 102, p. 975. I’ ho 30- 1915......................... $1,097,023 op. def. $101,984 $173,724 dof.$275,709
1
9
14-......................
1,106.952
op.
def.
95,823
168,577
def.
264,400
ye, af ^ “ eb. ? tock <afc P resen t limitod to $7,000,000, at $20,000 per mile, on
said 350 m .), is issued under a trust deed dated July 22 1912 to tho National — (V. 98. p. 763; V. 102, p. 15-10.)
Trust C o., Ltd., trustee, and is guaranteed, prin. & int., by tho Provinco of
ELMIRA & WILLIAMSPORT RR.— Owns from Williamsport, Pa., to
Alberta. See V. 95, p. 1273; V. 96, p. 419, 1422.— (V. 102, p. 975.)
Elmira. N. Y ., 73.49 miles. Leased to the Northern Central Ry. for 999
from M ay 1 1863. Leaso was assumed in 1911 by Penn. R R . Co.
EL PASO & NORTHEASTERN CO.— Owns tho El Paso & Northeastern years
Tho divs. on tho com. stock aro 5% and on the prof. 7 % , loss taxes, making
R R . and R y. from El Paso, Tex., to Corrizosa, N . M ., 144 miles, with div.
on
com. 4.52% . and on prof. 6.32% . Tho $963,000 1st 6s duo Jan. I
branches, 25 m.; controls and operates El Paso & Rock Island R y., Carri- 1910 wero
extended to Jan. 1 1950 at 4 % . V. 89, p. 1667. Cal. year 1915.
zosa to Santa Rosa, 128 m.; Alamagordo & Sacramento M tn. R y., Alama- gross, $1,541,822; net, $38,132; rontal, $130,020.— (V. 97, p. 666.)
gordo, N . M ., to Russia. 31 m.; Dawson R y., Dawson to Tucumcari, N .M
ERIE & CENTRAL PENNSYLVANIA R Y.— V. 96. p. 1156.
132 m.; Burro M tn. R R ., Jet. to Tyrone, N. M .. 13 m .; total, 470 miles.
Name changed from New Mexico R y. & Coal Co. in 1905. Oporated
ERIE & PITTSBURGH RR.— Owns New Castle, Pa., to Girard, Pa.;
as eastern division o f El Paso & Southwestern C o m p a n y .
See R R . below
79.56 miles; branch to Erie docks, 3.41 m.; trackage to Erie, 16.74 m.; total
The Dawson R y. Sc Coal Co., stock $100,000, has Issued $3,000,000 operated. 99.71 miles. Leased to Penn. R R . for 999 years In 1870 at 7%
collateral trust bonds, which are guaranteed, principal and Interest, and are on stock and Interest on bonds and lease transferred to Penn. Co. Under
secured by the stock and bonds ($3,000,000 each) of the Dawson R y., and agreement of Nov. 1 1905 the Penn. R R . will provide sinking fund Install­
those of the Dawson Fuel Co. ($1,000,000 each), the latter owning about ments required by the gen. mtge., the E. & P. to deliver Its 3 AS% debentures
25,000 acres of coal, mineral and timber lands, being sold In 1905 to the at par for such advances and at maturity of the gen. mtge. bonds to ex­
Stag Canon Fuel Co. V. 73. p. 900; V. 74, p. 776; V. 87, p. 1604, 1536.
change new mtge. bonds therefor. Debentures Deo. 31 1915, $479,506.
STOCK.— Stock. $12,000,000. Owned by El Paso & Southwestern Co.
STOCK.— The special betterment stock ($2,500,000 auth.) Is subordinate
BONDS.- -The New Mexico R y, & Coal Co. coll, trust 5s of 1897 are to the old stock, but guaranteed 7% dividends. Dividends on old stock are
secured by the stock and bonds of El Paso & N. E. R y. of New Mex ($2 - subject to a 4-mlll tax on assessed value, on special betterment, tax-free.
700,000 of each), tho stock of the El Paso Sc N. E. R R . of Texas, $300 000
EARNINGS.— Loss to tho lassoes In 1911 was $166,285: 1912. loss. $63.­
(no bonds Issued), and all the stock ($100,000) and all the bonds ($1,500 - 446; 1913, profit, $57,124; 1914, loss, $76,604; 1915, loss, $33,014.— (V. 84,
000) of the New Mexico Fuel Co., tho latter covering 3.500 acres of coal p. 749.)
lands. V. 74, p. 776. The other Issues are guaranteed.
ERIE RAILROAD.—-(S ee M a n o n p re c e d in g p a g e .) — Embraces trunk lino
R EPO RT.— Report o f ontlre El Paso & Southwestern Co. systom (1.028 from Jersey City to Chicago, 111., and branches, 2,257 miles; second track,
miles) for year ending June 30 1915, in V. 101, p. 2144. 2151. showed:
1,220 miles; third and fourth tracks, 18 miles; total, all main tracks, 3,714.




June , 1916.]

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b re v ia tio n s , t& c., see notes o n f i r s t pag e]

Erie RR (/Concluded) — 5th mtge (ext in 1888) gold-xc*
Erie Ry 1st M Bull Br Hornellsv to Attica gold.zo*
First oonsol mtge 530,000,000 gold 5 or £_F.zc*
N Y.L E A West llrst consol mortgage gold_____zo*
Butr & S W 1st M gold ext 1908 red 105 gold.-xc*
Newburg & N Y 1st M gold extended in 1889.. vo*
Ch A Erie 1st M g (Marlon O to Ham'd Indl.Cc.zc*
Erio & Jersey 1st M g s f red text_______ G.c*Ar*
Genesee River 1st M gold s fd red text____Q.c*Ar*
Chicago A Atlantic Terminal Urst mtge goId.Cez
B— Erie Railroad Company Bonds
Second mtge on Bud A S W gold ext 1908__ G.xo*
Prior lien bonds 535,000,000 g old ............ _F.xc*Ar
General lien 5140,000,000 gold................_F.xc*Ar
Penn coll trust M 536,000.000 g s I (text) Ba.xcAr
General Mortgago(Series A ______________ G.xc*Ar
convertible,
1Series B ______________________x
350,000,000 ...(S cr ie s D _______ ______ ______
Refunding and improvement mortgage (see text) _
Coll tr g notes $13,500,000 red 102____Ba.yc’ Ar
Notes gold due 590,000 yearly Y .9 4 ,p . 1695
Equipment trust certfs see table in text_________
Avon Geneseo & Mt Morris and Rochester A Genesee
C— Bonds on Properties Controlled by Ownership
Bergen Co 1st M Ruth Jot to Rldgew ext 1911__ x
cGoshen A Deck’ t’ n 1st A 2d Ms (560,000 are 2d).z
cMont A Erie 1st & 2d Ms (540,500 are 2d).........z
Jederson 1st A 2d Ms ext In ’87 & ’89(H'daleBr) _xo
1st M Carbon to S depot g ext '09 red 105..FP.xc*
Long Dook Co cons M g (now 1st M) (see text) .xo*
cN Y A Greenw L prior lien M 51,500,000 goId..N x
&New Jersey A New York 1st M ext In 1910— xo*
General mtge 51.200,000 (red 105 after 5 yrs) g _x
N Y L E A W C RR 1st M “ lawful money ” _/\lp.zc*
N YLEAW DAICo exg'13red toxt(V96,p 1776)F.xc*
N Y Pa A Ohio prior lien mtge gold 5 or £ ...F ,z o *
Do Leased lines—see separate statements for Cl
N Y Susquehanna A Western— Northern New Jers
Blossburg Coal Co 1st M guar p & i ext in 1916----Evansville & Indianapolis— Evansville & Terre H
L in e s O w n ed in F e e —
M i le s .
Plermont. N. Y „ to Dunkirk.. 447
Budalo to Jamestown, N. Y __
66
Buffalo to Corning, N. Y ______ 140
Hornell to Buffalo__________
92
Other branches_______________ 206
Sto ck a ll (a) or n e a riu a il (bf o w n ed .
aChlcago A Erie R R ----------------*250
aJederson R R ________________ *45
N. Y. A Greenwood Lake R Y . . *53
Erie A Wyoming Valley R R —
64
aNypano Railroad----------------- 422
bTloga Railroad--------------------58
Other lines___________________
48
• Sec this company.

M i le s
Road

D a te
bonds

Par
V a lu e

R ate
%

W hen
P a y a b le

4751
60
526
526
67
12
250
39
32
...

1858
600 Ac
709,500
1861
200 &o
182,400
1870
1,000 16,891,000
500 Ao 3,699,500
1878
1877
50 Ac
1,500,000
1868
1,000
250,000
1890
1,000 12,000,000
1905
1,000 7,400,000
1907 1.000 Ac
6.000,000
1888
1,000
300,000

4
4
7
7
5
5
5
6
6
5

g
g
g
g
g
g
g
g
g
g

J
J
M
M
J
J
M
J
J
J

67
__

1895
1,000
1,000,000
1895
1,000 35,000,000
1895
1,000 35,885,000
1901 1,000 Ac 34,000,000
1903 1,000 Ac 1 0 .0 0 0 .0 0 0
1903 1,000 Ac 11,015,000
1903
100 Ac 19.627,100
See text
1914 i.000 Ac 13,280,000
1912
4,500
90,000

5
4
4
4
4
4
4

g
g
g
g
g
g
g

J &
J A
J A
F A
A A
A A
A A

__
__
__
__
__

Valle y Stoc
of En tire (•)
10 1881
’68-’69
__ ’66-’ 67
8 ’ 67-’ 89
3 7 1889
—
1885
62 1896
3 4 1880
—
1892
. . . 1882
—
1883
422 1880
evclan d A M
ey— T loga R

5H g A

ks— See t hose Com pa nles.
or a MaJ orlty (5) of Capital S
1,000
200,000
5
246,500
6
170,500
5
500 Ao
300,000 4 H A 6
1,000 2,800,000
5 g
1,000 7.500,000
6 g
100 Ac
1.471,900
5 g
600 Ac
394,000
5
500 Ac
629.500
5
1,000
1.100.000
6 our
1,000 3.396,000
5£
500 Ac 8,000.000
4«g
aliening Valley RR and Shar
R— See e ach compan y
400.000
au te— See Ch icago A East Illinois

L e a s e d L in e s —
M i le s .
Avon Gen. A Mt. Morris........... *15
Montgomery A Erie................... *10
Northern R R . of New Jersey.. *26
Goshen A Deckertown.............
*12
Rochester A Gcnessco V alley.. *18
Other lines...........................
83
L e a se d to N y p a n o R R .—
Cleve. A Mahoning Valley R R . *81
Sharon Railway_______________ *31
15
Other lines___________________
T r a c k a g e _____________________
75

Lines In system Doc. 31 1915..2,257
N. Y. Susquehanna A Western. *236
bNew Jersey A New York R R . *38
Tho Erie & Jersey R R . completed In Jan. 1909 a low-grade cut-off from
Highland Mills via Campbell Hall to Graham, N. Y ., 38.6 miles, and the
Gonesco River R R . In 1910 from Hunts to Cuba, N . Y ., 32.6 miles. V. 84.
p. 1366, 1488; V. 81, p. 777: V. 99, p. 816. (See below.)
HISTORY.— On Dec. 1 1895 succeeded, per. plan In V. 61, p. 368, the
N. Y. Lake Erie A Western R R . Co., sold In foreclosure under Its second con­
solidated mtge. The company holds In fee or through ownership of all or
practically all the stock of the subsidiary companies the line from New
York to Chicago (Including the Nypano R R . and Chlo. A Erie companies).

COAL AND STEAMBOAT PR OPERTY.— The E r i e coal properties rep­
resent an aggregate of 12,400 acres of anthracite, of which about 9,000 acres
arc held In fee; also 53,000 acres of bituminous coal lands held In fee, 14,000
acres of bituminous held under mineral rights. Its coal and coke tonnage In
the year 1915 aggregated 17,640,160 out of the 39,974,996 tons hauled
The P e n n , coal properties acquired In 1901 arc additional. V. 82, p. 1322
STOCK.— Prior and General Lien bonds of 1895 have 10 votes for each
51,000 of principal, their authorized Issues aggregating $175,000,000. of
which $87,724.000 Issued to Jan. 1 1916. Provisions of preferred stock were
In “ Supplement” of April 1897. page 3. V. 66, p. 335, 573.
DIVIDENDS (cash) %1 ’01. ’02. ’03. ’04. ’05. '06. 1907. ’08 to Oct. T5
3 3H 4
4
4
Apr., 2
0
On llrst preferred------- f 1
On second preferred— J . .
- . __
_. 2
4
Apr., 2
0
BONDS.— First consol, mtge. o f 1895 for $175,000,000 (Farmers
Loan & Trust C o., trustee)—sec abstract, of deed, V. 62, p. 89. secures t.h«
535,000,000 Prior Lien and $140,000,000 General Lien bonds. Both series
havo voting power; sec "Stock” above: also Issue of Feb. 1912
Of the $140,000,000 G en era l L ie n b o n d s, $92,668,000 were reserved for the
ultimate acquisition of bonds and guaranteed stocks left undisturbed on
various parts of the system (see list, V. 62, p. 89), and $17,000 000 were
reserved for new construction, betterments, additions, Ac., after 1897_
not over 51,000.000 to be used in any one year. In Dec 1915 535.885 000
General Lion bonds wore in hands o f public. $14,839,000 additional being
pledged under collateral trust notes— seo below— and $2,000,000 unpledged
In June 1916 the amount outstanding was to bo increased to $38 265 000 to
refund Buffalo N. Y. A Erio 1st 7s, paid o ff Juno 1. V. 102, p 2 0 7 7 'v 97
p. 1898; V. 100, p. 1168.
y u" ’ v ’ w ’
The collateral trust 4s of 1901 are secured by 51% of the entire i\r v
Susq. A Western stock ($26,000,000 total Issue), all of the Pennsylvania
Coal Co. stock, and the stock of the Erie A Wyoming Valley R R Scranton
Pa., to Lackawaxen, 65 miles, and Delaware Valley & Kingston R R '
Sinking fund of 10c. per ton o f coal mined from mines of Penn Goal ( ’ o'
V. 71. p. 1219. 1311; V . 72, p. 44, and circular, p . 136, 532, 257- V 79 i>‘
212; $7,781,000 included in the $34,000,000 “ outstanding” were in sinking
fUThoI Gen! M . Convertible 4s o f 1903 ($50,000,000 auth.) are Issued
from tlino to time as required and may bo made convertible into com. stock
at a prlco to bo fixed when tho bonds are Issued, but not loss than $ 4 1 H per
share; they will cover all tho company s property subject to underlying lions.
Tho first $10,000,000 (Series A) Issued for Improvements and equipment was
convortlblo on basis of $100 bonds for $200 stock to Apr. 1 1915. Series B
bonds for $12,000,000 are convortlblo Into common stock at $60 per share
at any time since Oct. 1 1907 and before Oct. 1 1917. V. 76, p. 382 541­
V. 78, n. 768; V. 79. p. 2205: V. 84, p. 270.
In 1916 $19,627,130 Gen. M . 4% bonds Series D (V. 102. p. 86. 345)
wore underwritten and offered (at 85) to shareholders and holders of
Sorios B. These bonds are convertible at option of holder Into tho common
stock at 50 ($200 par value o f stock for $100 par valuo of bonds) after
April 1 1918 to Oct. 1 1927. See “ Finances below. In April 1916 tho
company held $372,900 Herios D bonds.
Eventually it Is proposed to make a Refunding and Improvement mort­
gage, limited to 3 timos tho amount o f tho outstanding stock. V 99 n
815,1130: V. 100. p . 641: V. 102, p. 66.
,
,
,P
In Feb. 1915 sold $7,400,000 Erie & Jersey (closed) 1st M . and$6,000,000
Gonesee River 1st M . bonds. Both issues are subject to call as a whole or
In part to July 1 1920 at 110, and thereafter at 115. Cumulative annual
sinking fund o f each issue. Both roads havo boon merged In tho Erio RR
Co. V. 100. p . -174. 481,397, 555, 641, 981. 1437.
Tho $13,280,000 514% coll, notes dated April 1 1914 are secured by:
(a) Bonds: $14,839,000 Erio RR. Co. 1st consol. M . gon. lien 4s: $985,000
Erie RR. gon. M . convortlblo 60-year gold 4s, Ser. B; $600,000 Elmira
Corning A Wavorly Ry. 1st M . 5s, and $95,000 Mutual Terminal Co. of
Buffalo 4% notos, payable July 1st 1924; and (6) stocks: $6,306,000 N. Y.
Susq. A Western R R . prof, stock; $163,100 Lehigh A Hudson River Ry.:
$750,000 Now Jersoy A New York RR. Co. prof, and $1,000,000 N. J. A
N. Y. RR. common. V. 98, p. 689. 763, 839; V. 99, p. 816, 969.
N. Y. Lake Erio A Western Docks A Impt. Co. 1st 6s were extended
30 years from July 1 1913 at 5% ; they are redeemable at 102>4 on or before
July 1 1918 and at 105 thereafter. V. 96. p. 1422, 1772; V. 97, p. 54, 370
L o n g D ock 6s, see March 1894 “ Supplement,” under N. Y. L. E. A W.




Am ount
O u tsta n din g

51

L a s t D iv id e n d
a n d M a t u r it y

A D June 1 1928
A J July 1 1931
A S Sept 1 1920
A S Sept 1 1920
A J July 1 1918
A J Jan 1 1929
& N May 1 1982
& J July 1 1955
A J July 1 1957
A J July 1 1918
J
J
J
A
O
()
O

July
Jan
Jan
Feb
Apr
Apr
Apr

1 1918
1 1996
1 1996
1 1951
1 1953
1 1953
1 1953

& O Apr 11917
June 1 1917

took, or by (c) Lease
A A O Apr 11921
Various 1928-1929
Various 1926-1927
J A J July 1 1927-29
A A O Apr 11919
A A O Oot 1 1935
M A N May 1 1946
M A N May 1 1950
J A J Jan 1 1933
M A N May 1 1922
J A J July 1 1943
M A s Mch 11935
on Ry
j

A

P la c e s W h ere In t e r e s t a n d
D iv id e n d s a re P a y a b le

J P Morgan A Co. N Y
do
do
do

do
do

do
do
50 Church St. New York
do
do
do
50 Church St, New York
50 Church St, New York

do

do

do

50 Church St, New York
50 Church St. New York
Fidelity Trust Co, Phila
50 Church St. New York
J P Morgan <5 Co. N Y
do
do
50 Church St. New York
do
do
do
do
do
do
J P Morgan A Co. N Y

J July 1 1922

C a r T ru st S e r ie s , C o ld (D e n o m in a tio n $1,000 e a c h ). S e e V . 8 8 , p. 882.
D a te. In teres t.
O u tsta n d in g .
M a tu re in In s ta llm e n t s .

“ J " . . _ z ------- 1906 4
MAN
$47,000 Nov 1916
$47,000 s.-a.
“ K ” . . z ------- 1907 4H FA A
58.000 A u g ’ 16-Feb’ 17
29,000 s.-a.
“ L” — z------- 1907 5 JAJ
321.000 To July 1917
107,000 s.-a.
“ M "__x ------- 1907 5 JAJ
87.000 To July 1917
29,000 s.-a.
“ N ” x -------1907 5 AAO
456.000 To Oct 1917
152.000 s.-a.
O“ _x------- 1907 5 AAO
150.000 To Oct 1917
50,000 s.-a.
Q - - x --------1911 4H FA A 2.530.000 To Aug 1921
230,000 s.-a.
li ”. . x ------- 1912 4J4 FAA 1.404.000 To Aug 1922
108,000 s.-a.
S”
x-------1912 4 M JAD
1.300.000 T o Dec 1922
100,000 s.-a.
T ” - x --------1913 5 JAD15 924.000 To June 15 1923
66.000 s.-a.
U __z------- 1913 5 JAJ
1.763.000 T o Jan 1 ’23 S117Mor$118M s.-a.
V " . . x --------1913 5 JAD15 600.000 To June 15 1923
1Q0.000 yrly.
' AA ’ x ------- 1913 5 MAS
840.000 To Sept 1 1923
56.000 s.-a.
BB ” _...........1914 4 X F<t A
765.000 To Aug 1 1924
45.000 s.-a.
“ CO” -----------1916 4 M JAD 4.275.000 T o ______1925
213,000 s.-a.
“ D D " ---------1916 4 l4 JAD 1.250.000 T o June 19261
62,500 s.-a.
Var’us
Wells, F .A C o___ 5
111.000 1916-1918
somi-ann.
Bald.Lo.Co. 1913 6
Q.-M .
36,491 T o Dec. 28 1916
18,246 quar.
Interest ,paid:
and L ” in Now York; Series “ K ” at Nat. Bank of
----- “ .J ” ----Commerce, N. Y.; Series “ M ” at Girard Trust C o., Phila.; Series “ N ” at
First Nat. Bank. N .Y .; Series “ O” at Central Trust C o., N .Y .; Series“ Q“
at Fidelity Tr. C o.. Phila.; " T ” Columbia Tr. C o., N. Y .; " U ” and “ V ”
in N. Y .; "A A ” , “ BB” and “ C C ” at Com ’l Tr. C o., Phila. For security
on equip, trusts of 1916, see V. 102, p. 608, 2077. 2166.
FINANCES.— The proceeds o f the $19,627,130 Gen. M . convertible 4s
sold in 1916 (seo above) were to be used as follows; (a) $10,000,000
in retirement of tho 5% notes which matured April 1 1916; (6 ) about
$ 2 ,0 0 0 ,0 0 0 to complete the double tracking and grade reduction on 3 5 miles
of tho Chicago A Erie Division between Lomax and Griffith, Ind., and to
incroaso the terminal facilities in Ohio; (c) the balance to provide in part for
the retirement o f tho issue of 5 H % notes due April 1 1917. Pres. Under­
wood said: “ The retirement of tho last-mentioned notes will complete the
refunding of all of our short-term debt, which In March 1914 amounted to
$45,000,000. Interest charges on tho $19,627,130 convertible bonds will
bo at a rate approximating 1 y%% per annum less than that heretofore
paid on the notes to bo refunded. This interest began April 1 1 1916
(V. 102, p. 6 6 , 1896.)
From 1901 to 1915 tho company expended about $105,000,000 (incl.
$30,600,000 from income) on additions and betterments. Including double­
tracking, improvement o f grades and alignment, additional sidings, equip­
ment, Ac. The result was an increase in the gross revenue from about
$40,000,000 for 1901-02 to over $65,000,000 In 1915, or about 60% , while
revenue train mileago increased but slightly over 5% and miles of road
increased only 42, avg. train load Increasing from 399 to over 725 tons.
EARNINGS.— 4 mos., (1916........ Gross, $23,124,828; net, $5,063 665
Jan. 1 to Apr. 30.
(1915........ -Gross, 18,994,695; net, 3,686,506
R EPO RT.— For year ending Dec. 31 1915. V. 102, p. 1341.
12 M o s . to
6 M o s . to 12 M o s . e n d . 12 M o s .e n d .
Milos Oper. 2257
D e c . 31 ’ 15. D e c . 31 ’ 14. ./tme.30’ 14. J u n e 30'13
Total oper. revenues--.$66,436,720 $31,216,708 $60,983,575 $62 647 359
Oper. exp., taxes, A c— 45,670,748 24,386,652 48,224,007 46,146!760
Operating income----- $20,765,972 $6,830,056 $12,759,568 $16,500,599
Int. on securities--------- 1,150,993
595,216
1,797,509
5 147 900
Rents, A c., received.-- 1.313,222
662,110
1,055,145
985 911
Total income_______ $23,'230,186
Interest on bonds_____ $8,413,493
870,287
Interest on notes--------Int. on unfunded d e b t..
868,265
Rentals of leased roads. 2.295,149
Hire o f equip., A c--------- 1,806,456
lnt. on equip, obliga'ns.
693,797
Sinking funds A miscel.
882,766
Inv. in phys. property.. 1,383.754

$8,087,382 $15,612,222 $22,634,411
$3,874,020 S7,767,849 $7,813,885
' 684,875 '1,509,91'
1.501,500
344,169
211,959
56,997
1,117,477
2,226,702
2,252,223
885,921
1.587,686
2,261,033
401,599
760,367
643,097
411,770
885,476
765,519
751,765
502,743
657,588

Balance, sur. or def.sur$6,016,219 def$384,213 sur$159.523 sr$6,682,56S
OFFICERS.— Pres.. F. D. Underwood; V.-P. and Gen. Solicitor, G. F.
Brownell; V.-P., G. N. Orcutt; V.-P. and Sec., David Bosnian; V.-P.
and Gen. Traffic M gr.. Delos W. Cooke; V .-P., Albert J. Stone: Treas.
D. W. BIgoney; Comp., C. P. Crawford, 50 Church St., N .Y .
DIRECTORS.— Gates W. McGarrah, A. M . Anderson, Albert H. Wig102, p. 1163, 1244. 1341, 1896, 2077, 2166.)
EVANSVILLE & TERRE HAUTE RR.—See Chicago A Eastern Illinois.
FERNWOOD & GULF RR.— Owns Fernwood to Kokomo, Miss., 32 m.
Incorporated In Mississippi March 31 1906. Stock outstanding June 30
1915, $100,000. Bonds, see table above. For year ending June 30 1914
gross, $138,728: net, $31,904; int., taxes. A c., $41,897: bal.. def., $ 9 ,9 9 3 !
In 1914-15, gross, $158,149; net, $36,613. Pres., F. B. Enochs; Y.-P,
N . E. Ball; Sec. A Treas., George Shine. Office, Fernwood. Miss.
FITCHBURG RR.— System extends from Boston, Mass., to Troy and
Rotterdam, N. Y.. 251 miles; branches to Worcester, Bellows Falls, Ao
207 in.; 458 m. In all, of which 59 m. (Fitchburg to Greenfield) leased from
Vermont A Mass, and 5 m. other cos.; second track 199 m. V. 84. p. 1366.
LEASE.— Leased for 99 years from July 1 1900 to Boston A Maine for 5%
on pret. and 1 % on com. stock, organization expenses, int. on bonds, taxes
expenses of maintenance, Ac. Boston A Maine holds 55,551,400 of the
$7,000,006 common stock, the remainder being In the treasury. V 70.
O. 76. 125 176. 583 1291: V. 71. p. 29. 543; V. 72. p. 532.
In Feb. 1916 the directors advised merger with B. A M . See that com­
pany and V. 102, p. 885.

52

[Vol. 102.

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b re v ia tio n s , & c ., see notes on f ir s t page]

D ate
M ile s
Road Bonds

Par
V a lu e

A m ount
O u tsta n d in g

R a te

%

W hen
P a y a b le

L a s t D iv id e n d
a n d M a t u r it y

M & N May 1 1936
6
$500,000
32 1911
Fernwood & (lulf RR— First mortgage S500.000.........
Q—J July 1 '16 1 % %
5
$100 18,860,000
Fitchburg— Preferred 5% rental____________________
M & N Feb 1 1937
0004
1,000 5.000.
1887
Bonds to State of Mass 4% since Feb 1897----------- zr
J & D June 1 1920
4
500.000
1890 ,000 &o
Bonds not mortgage.............
zc&r
J & J July 1 1916
4
500.000
1,000
1896
Bonds not mortgage___________________________ zc*
Various 1927-1928
4
’97-98 ,000 &c 4.200.000
Bonds not mortgage (52,750,000 are 4s of ’97).zc&r
3 >4 A & O Oot 1 1920-21
’00-01 ,000 &o 2.275.000
Bonds not mtge ($1,775,000 are 3 Hs of ’ 01)--zc& r
Apr 1 1927
A &
0004
1907 ,000 &o 2.000.
Bonds not mortgage $2,000,000------------------zo*&r
M & N May 1 1925
4
1905 ,000 &c 3.660.000
Bonds not mortgage $3,660,000 currency......... zc&r
May 1 1928
M
&
N
4H
2.400.000
,000
&c
1908
Bonds not mortgage $2,400,000--------------------- zc&r
Jan 1 1932
4M J &
1.200.000
1912 ,000 &o
Bonds $1,350,000 authorized ourrency--------- zo'& r
Jan 1 1933
J &
400.000
4%
1913 ,000 &c
Bonds $450,000 authorized______________________ z
Jan 1 1934
J &
5
1.872.000
1914 ,000 &c
Bonds S2.100,000 authorized_____________________z
none Jn o’ 16
Bonds §3,175,000 authorized--------------------------------J & J July 1 1924
7
573.000
35 1874 1.000 &o
Troy & Boston first mortgage (V 53, p 405)— zc&r
Semi-an Feb-Juno ’ 17
2.109.000 5 & 6
15- 16
Notes ($3,175,000 6% ext 1 yr to Juno 1917).............
344 M & N May 1 1923
772.000
1903 ,000 &o
Vermont & Massachusetts plain bonds guar— zc&r
6 g J & J July 1 1937
150.000
1,000
'30 1907
Fitzger Ocilla & Broxton— 1st M $300,000 g red 110.x
Flint & Pere Marquette— See Pere Marquette statem't
& J July 1 1959
100 See text
59 1909
Florida Ry— First mortgage $4,000,000------------------Florida Central & Peninsular— See Seaboard Air Line Ry
& D June 1 1959
4% g J
617 1909 1,000 &c 12,000,000
Florida East Coast— 1st M $12,000,000 g--Ba.xc*&r*
25,000,000 4% pd Nov 1 '15 July 1 1959
1909
General Income M 5% non-cum $25,000,000------- x
M
&
N M ay 1 1917-'22
6
301.000
1,000
1914
Equipment trust certs ser A, due $50,000 yearly —
Florida West Shore—See Seaboard Air Line.
Aug 15 '13 2%
100 2.500.000
Fonda Johnstown & Glovcrsville— Common stock —
Q—M Junel5'16 1 14%
6
500.000
100
Pref stock 6% cum call at 105 $1,000,000 auth----A & O Apr 1 1921
200.000
6
100 &o
26 1881
Consolidated mortgage $200,000-------------------------zo
500.000
1,000
26 1897
4 M g J & J July 1 1947
First consol refunding mtge $500,000 gold.N.xo*
July 1 1950
4g J &
800.000
1,000
20 1900
General refund mtge $800,000 (V 71, p 34).-N ,xo
July 1 1933
J &
5
50,000
1,000
4 1893
Johnstown G & KIngsboro 1st M assum ext 1913. _z
Oct 1 1922
A &
6
350.000
1,000
14 1892
Cayadutta Elec 1st M guar p & I by F J & G gold.Nz
5.150.000
4H g M & N Nov 1 1952
1,000
75 1902
First cons gen ref M $7,000,000 g red 120-.N,xc*&r
J & D Dec 1 1916-38
5.500.000
Sg
Fort Dodge Des M & So— 1st M g red 10 5...........OB 128 H 1913 $100 &c
4 g A & O Apr 1 1954
1904
1,000 6.240.000
Fort Smith & Western— 1st M $7,500,000 g o ld ...x o *
1,000
1891
l .000.000
414 g J & J Jan 1 1941
Fort Street Union Depot— 1st M gold------------------Cex
J & J July 1 1918
6
1,000 See text
1915
Gold notes___________________________________ xc*
514 M & S Mar 3 1916 2 %
100 2,291.416
98
Fort Wayne & Jackson— Preferred stock 5H % rental

P la c e s W here In terest a n fr
D iv id e n d s a re P a y a b le

Office, Boston & Me,Boat
Office FltehburgRR.Bost
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

do

do
do
Owned by Atl B & C’stCo
Nov 1908 coup last paid
Bankers Tr Co. 14 Wall St
New York
N Y , U S M tg & Tr CcChecks mailed
'
do
do
Imp & Trad Nat Bk, N Y
New YorkTrust Co, N Y
do
do
FulCoN Bk.G lov’lle.NY
Farmers' L & Tr Co, N Y
New York Trust Co, N Y
New York
Oct 1907 coup last paid
Central Trust Co. N Y
Merc Nat Bk, Boston
Farmers’ L & Tr Co, N Y

BONDS, <&c.— Debentures, see V. 60, p. 967; V. 84, p. 158, 270. As to poratod In Maine In 1913. succeeding the Iowa corporation of tho same
$1,350,000 bonds of 1912, see V. 93, p. 730, 1461. 1725, 1786; V. 94, p. 68. name which was foreclosed Oct. 13 1913. V. 97, p. 1357, 1426, 1583.
$450,000 Issuo of 1912, see V. 96. p. 359. V. 97, d . 802. 950; V. 98. p. 839, Capital stock, pref.. $1,200,000; common, $2,000,000.
1156, 1392. Stockholders on Sept. 29 1915 authorized $3,175,000 bonds
DIV ID E N D S.— On pref. stock Feb. and M ay 1916, l % % .
to refund $500,000 bonds due July 1 1916 and fund the floating debt o f
Bonds (open mortgage), presont Issue, $5,500,000, was offerod by N . W .
$2,109,000 and provldo for Improvements. V. 101, p. 1092; V. 99. p. 1748; Halsey
C o., In 1915. See V. 101, p. 1272, 1972. Due serially on Doc. 1.
V. 100. p.733,811. On Dec. 1 1914 gavo Boston & Maino $750,000 6-mos.' $50,000&yearly,
1916 to 1937, both Inclusive, and $4,400,000 In 1938 but
notes to reimburse It for advances, which have been extended to Juno 1917. redeemable all or
on any Interost date at 105 and Int. Additional
The $1,359,000 6% notes duo Mar. 1 1916 were roplaced by 5% notes duo bonds Issuablo onlypart
80% of cost of additions, &c.. when annual net earn­
Feb. 15 1917. Treasurer, Georgo O. Foster.— (V. 102, p. 437, 712, 885.) ings aro 1 % times for
interest charges, including tho bonds proposed.
As to controlled cos.. Fort Dodge St. R y., 4 m ., and Central Iowa Light
FITZGERALD OCILLA & BROXTON RR.— Owned Broxton to Ooilla,
^ ^
Ga., 25 miles, with branch to Fitzgerald, 5 m.; leases Ocilla to Irwinvllle, & Power C o., sco V. 97. p. 1583. 1663; V. 98, p. 1766.
Earnings for year ending Juno 30 1915. gross, $1,285,962; not aftor taxes,
10 m. V. 84, p. 1551. Stock, $300,000, all outstanding: par $100. The
Atlanta & Birmingham Construction Co. owns all o f the bonds and all ex­ $621,311: interest on $5,500,000 bonds, $275,000: bal. for depreciation;
cept $75,000 of the stock. V. 89, p. 41. Operated by Atlanta Birmingham dividends, $346,311. Year ending Juno 30 1914. gross. $1,026,879; 1912-13,
& Atlantic R R . since Jan. 1 1912. See V. 98. p. 1534. 1067. 1070. 1091.
Directors: C. Sidney Shepard. Wallace B. Donham, Parloy Sholdon,
Portion of road from Oslerfield to Broxton. 14 m .. was sold and disman­
tled July 1915. Fitzgerald to Ocilla, 10 m ., leased to Ocilla Southern R R . Homer Loring, Samuel II. Powell. Pres., Homer Loring; Treas., F. M .
Johnston; Gen. M gr., C. II. Crooks, Boone, la.— (V. 102, p. 608.)
V. 100, p. 288.
In 1909 a protective committee for securities of Atlanta Blrm. & Atlnntlo
SMITH & WESTERN RR.— Operates Fort Smith, Ark., to Guth­
RR. requested deposits of both stock and bonds. V. 88. d . 1196. In rie.FORT
O. T., 216 miles, of which Coal Creek, I. T., to Guthrie. 196 m. Is
March 1910 receiver was appointed; E. T . Lamb was receiver.
V. 92, owned
and Ft. Smith to Coal Creek, 20 m.. Is Kansas City Southern track­
p. 725. June 30 1913, receiver’s ctfs., $15,401.
In Oct. 1915 contracted for uso of M . K . & T . tracks. Fallis to Okla­
Year ending June 30 1914, gross, $13,174; net, $587; othor Income. age.
homa City. 30 miles. V. 101, p. 1553. Coal properties are developed
$1,609: bond Int., $7,980; other charges, $5,984; bal., def.. $11,768. V. 85. at
McCurtaln, I. T.. 40 m. west of Fort Smith, producing an average of
p. 468. Recr. and Gen. M gr., E. T . Lamb: R. Kemp Slaughter, Aud. for 30.000
tons per month. Owns 51% of the capital stock of the St. Louis E»
Recr.; T . IC. M ays, Treas. for Recr.— (V. 98, p. 1071; V. 101, p. 288.)
Reno & West. Rv.. Guthrie to El Reno, O. T .. 42 m.. oper Independently.
On Oct. 9 1915 Gen. Mgr. Arthur L. Mills was made receiver. V. 101,
FLORIDA RY.— Perry to Live Oak, Fla., 52 miles; with branches, 7 m.
. 1272. Bonds deposited till July 1 1917, with a coramlttoe consisting o f
Authorized to build from Tallahassee to Fernandlna and Jacksonville. 224
.7. L. Brown, A. W. Mellon, Colgate Hoyt, W . II. Connlff, W . G. Mather.
miles. Extensions were under construction In Jan. 1911 from Live Oak *W
to Jacksonville and Fernandlna, 104 miles, but In Aug. 1911 construction J. J. Sullivan, Geo. S. Russell, James J. Hoyt, S. II. Tolies. O. C. Bolton
was discontinued. V. 93, p. 1786. On June 25 1915 William B. Winslow and A. C. Dustin (Superior Savings & Trust Co. of Cleveland, tho mtgo.
of N. Y. was appointed receiver. V. 100, p. 2166; V. 101, p. 47. Stock trustee, depositary), with power to sell or exchanj<o the same, &c. V. 91,
authorized, $4,000,000; par, $100. Bonds ($4,000,000 auth. Issue) are
subject to call at 106 on any Int. day after July 1 1914; thoy will be issued P"stock, $5 0003)00, all outstanding; par $100. Of the 4s of 1901 ($7,500.­
at $20,000 per mile. V. 89. p. 1596; V. 90, p. 1362. Tho coupons due 000 auth ). 55.833.000 were Issued In exchange for $5.000.000 old 5s
Jan. 1913 were not paid. See V. 96. n. 1629. For year ending Juno 30 $400,000 are reserved to replace the 20 miles of trackage mentioned above,
1914 (58 miles), gross, $52,068: not. $7,297; Int. and taxes. $7,039; bal., $400,000 for equipment, and the balance for other purposes; Superior Sav.
sur.. $258. Pres, and Treas.. Frank Drew. Live Oak. Fla.— (V. 96. p. & Trust Co., trustee. Equipment trust notes outstanding June 1914.
*61.125; current liabilities, $2,426,378. V. 77, p. 881629; V. 100, p. 2166; V. 101. p. 47.)
EARNINGS.— 10 m o s .,/1915-16.......... Gross, S602.018; net, $83,416
FLORIDA EAST COAST R Y .— Owns from Jacksonville, Fla., via St.
July 1 to April 30.
\1914-15.......... Gross,
561,908; not. 50,961
Augustino to Key West, 522 m.; branches, 217 m.; trackage, 6 m.; total,
For year ending June 30 1914. gross. $667,148; net. $9,195; other Income
745 m. Forms connection to Southern and Eastern Florida and thenco to $73,266: Int.. taxes. & c .. $361,615; bal.. dof., $279,154. In 19l4-15.gross
Cuba for tho Atlantic Cast Lino, Southern Ry. and Seaboard Air Lino. $630,894: net, $81,228. Pres.. A .C . Dustin, Cleveland. O.— (V. 101. p.1553)
The lino from Maytown to Lako Okeechobee, 123 m ., was opened In Jan.
1915, and 17J^ m. Now Smyrna to Maytown will bo completed in 1916.
FORT STREET UNION DEPOT.— Owns passenger station with ap­
V. 102, p. 885. V. 91, p. 1629. Car ferry servico from Koy West to Ha­ proaches. 1.4 miles, connecting with the Detroit Union RR. Depot & Sta­
vana, 90 miles, was begun on Jan. 1 1915. V. 97, p. 1115. 1281, 1583; tion Co. Leased for 990 years from Dec. 10 1889 to the Wabash, Pere Mar­
V. 99, p. 406; V. 100, p. 140; V. 102. p. 1346.
quette and Canadian Pacific for rental equal to 5% of total cost of property
and current expenses. Incorp. In Mich. Aug. 24 1889. Stock, $1,000,000,
STOCK.— $10,000,600, all sold at par. V. 96, p. 1840.
of which Pere Marq. owns $515,800; par, $100. On July 1915 issuod
BONDS, &c.— Tho 1st M . 4 ^ s ($12,000,000 auth.) are a first lion on 617 $329,000 6% notes exchangeable for liko amount of 5% bonds duo July 1
miles. V. 88, p. 1620; V. 94, p. 1185; V. 98, p. 1993.
1918. As bonds are exchanged thoy are deposited as collateral to the notos.
Int. on Incomes, 3 % % , paid Nov. 1 1910; Nov. 1911, 4% ; Nov. 1912, Pres., Frank H. Alfred, Detroit.— (V. 100. p. 1832.)
1913 and 1914. 2 % % ; 1915. 4 % . V. 97. p. 666.
FORT WAYNE & JACKSON RR.— Owns Jackson. Mloh., to Fort Wayne
EARN ING S.— 10 mos., (1915-16...G ross, $5,920,870; not, $2,378,440
July 1 to April 30.
\1914-15-..Gross, 4,456,226; net, 1,443,397 fnd., 98 miles. On Aug. 24 1882 leased perpetually to Lake Shore & Michi­
gan Southorn (now New York Contral at a rental of $126,027. equal to
RE PO RT.— Results for year end. June 30 1915 compare (V.101, p.1711): 5 % % on the pref. stock (see V. 56, p. 812), and aftor 1887 any net earnings
F is c a l
G ro ss
N et
W ater
In ter es t on
In t e r e s t,
B a l.,
over 8% on pref. stock to be paid on com., but not exceeding 2% a year.
Y e a r— E a rn in g s . E a rn in g s .
L in e .
In c o m e B d s . T a x e s .A c . S u r .
Common stock, $436,132.
.$
$
$
S
S
1914-15 ..5,392.782 2.054,946 C r .40.000 (4%)1.000.000 881.627 213,319
FORT WORTH & DENVER CITY RY.— Ft. W orth, Tex., to Tcxllne*
1913-14 .-5,397.646 1,681.432 ............. ( 2 % ) 625.000 940.218 116.214 454 miles. Owns securities of Ft. W. & Den. Term. Ry.
Pros., W. II. Beardsley; Treas.. I.. C. Haines.— (V. 99. p. 406. 748. 1300,
STOCK. &o.— Colorado & South. Ry. June 30 1915 owned all but $13,984
1360; V. 100, p. 140; V. 101, p. 1188. 1711; V. 102, p. 345, 885, 1346.)
of the $6,835,008 com. Issued and stamped stock. V. 63. p. 1063. 75.
Payments under stamped stock agreement of Oot., 12 1895: 2% In ’98;
FONDA JOHNSTOWN & GLOVERSVILLE RR.— Owns Fonda to 1899, 2% ; 1902, 4% ; Feb. 1903, 1904, 1906 to 1913, 4% each; June 30
Northvllle (steam), 25.47 m.; Gloversvllle toSchenectady (electric). 32.26
1913,3%, and Dec. 31,1% and 2% extra to bring payments within cal. year
m.; Gloversvllle to Fonda (electric), 8.70 m.; Belt line In Amsterdam 1914. June 30. 3% ; Dec. 31, 1% and 2% extra; 1915, 6% .
(electric). 3.67 m.; Belt line in Gloversvllle (electric), 3.84 m.; Hagaman
BONDS.— Abstract of mortgage. V. 45. p. 440. Certfs. of Indebtedness
line (electric), 2.29 m.; second track (olectrlc), 22.97 m. Oporates under
lease branch line Broadalbln Jet. to Broadalbln, 6.15 m. (steam); also local owned by Colo. Sou. June 30 1915. $299,917. Equipment trust, V. 82,
lino Gloversvllle to Johnstown (electric). 4.08 m.; sidings and turnouts. p. 1101: V. 84. p. 508.
The Fort Worth & Denver Terminal Ry authorized an Issuo of $2,500,000
13.09 m.; trackage, 1.99 m.; total. 88.45 miles o f road (124.51 miles of
track), o f which 103.32 on private right o f way and 21.19 miles on stroots 30-vear 6% bonds dated Dec. 1 1907 (Bankers Trust Co., N. Y .. trustee),
subject
to call at 105, of which $728,000 have been Issued, $300,000 sold and
and highways. The Little Falls & Johnstown R R ., owned by allied inter­
ests, is building an electric road from Little Falls to Johnstown, 28 mllos, $428,000 held by Ft. W. & D. C. Ry. V. 86. p. 52. 1100. 1589: V. 87. p. 949.
with branch from St. Johnsville to Canajoharle, 8 miles. V. 95, p. I l l , 1123.
EARNINGS.— 10 m os.,/ 1015-16----- Gross, $4,956,798; not. $1,733,131
Owns entire $105,000 common stock o f Coal Co. o f Fulton Co. and stock
July 1 to April 30.
\1914-15___ Gross, 4,598,206; not, 1.198,053
ofEdlson ElectricLlght& PowerCo. (V. 71, p. 1167.' V .78 .P .29. Also
For year ending Juno 30 1915. gross, $5,302,762; not, $1,326,559; other
66 2-3% Interest in stock and bonds of Adirondack Lakes T ractirnC o.,4m . incomo.
$42,047; bond int.. $520,171; othor chargos, $345,916: bal., sur.,
DIVIDEN DS.— On com., 2% . July 20 1910: July 10 1911, 2% ; Aug
$502,519. Pros., Geo. B. Harris.— (V. 82. p. 1156: V .84. p. 508.)
1912 and 1913, 2% : 1914 and 1915, none. V. 99, p. 537.
WORTH & RIO ORANDE R Y .— Soo reorganization plan under
BONDS.— Consol. l % s . $7,000,000 auth.; $1,850,000 is reserved to re­ St.FORT
Louis & San Francisco R R . bolow.— (V. 102, p- 885.)
tire prior liens. V. 76. p. 265. Guarantees $30,000 Gloversvllle & Broad­
albln 5s and $50,000 Johnstown GIov. & K. 5s and $50,000 8% stock.
GAINESVILLE MIDLAND R Y .— Owns Oalnosvjlle, Ga.. to Athens. 42
miles, standard gaugo, and Belmont to Monroe, 32 miles, gauge now
EAR N IN G S.— 10 mos., (1915-16..........Gross, $780,065; not, $331,676
standard. V. 79. p. 151.269. 500. 627. Stock, all out, $550,000.
July 1 to April 30.
\1914-15_____ Gross, 721,535; not, 292,223
Of the 1st 5s of 1905 ($1,000,000 auth.), $661,000 has been sold and $14,­
REPO RT.— Report for year ending June 30 1915, In V. 100, p. 688.
Is reserved to retiro old 6s; $26,000 troasury bonds and $192,000 Issued
showed, gross, $874,762; net. $407,526; othor income, $25,787; charges, 000
to cover broadening gauge of 32 miles aro plodgod to secure an Issue of
$420,050: pref. div. (6% ), $30,000; bal., def., $16.737.— (V. 101, p. 688.) $400,000
3-yoar 6% coupon notes of 1913. Those notos also have as addi­
FORT DODQE DES MOINES & SOUTHERN R R .— Owns from Dos tional security the following, pledged by Individual ownors: $630,000 1st M .
Moines. la., to Fort Dodge, Boone, Ames and Rockwell City, 1 2 8 % miles. bonds (1905 issue). $514,000 out or $550,000 cap. stock. Of these notes,
A north-and-south line crossing and exchanging traffic on a through-rate $325,000 aro Series A, having a prior lien on the collateral and $75,000 Sorles
basis with all tho eight trunk lines that traverse the State. The road Is B. $250,000 of Series A have been Issued aud installments paid thereon to
electrically operated and owns a steam power plant of 20,000 h. p. Incor- the oxtent of $213,285; Serlos B Is all out. V. 97, p. 950; V. 81, p. 1848.




J une,

l(JlG.j

R A IL R O A D C O M P A N IE S
(F o r a b b r e v ia tio n s , & c ., se e n o tes o n fi r s t

page]___

M ile s
R oad

Ft W orth & Denver C ity— Pref stock "stam p certfs” 4s
454
First rntee gold $18,000 per m ile------------- Ba ,zo
Equip truirt Series B due 519.000 s-a red 1 0 1 - Gx
E q trS or O $50.000 s-a rod aft M a y 20 102 H - - - P P
74
Gainesville M id la n d -F ir st M 51.000.000 e red at 110
N otes $400,000 auth extended to O ct 1 1919............250
Galveston Harrisb & San A ntonio— 1st M g l gr e x t .o
071
Western Division 1st M (Mex & Pao ext) g o ld — x
do
do
2d M “ stam ped ’ guar p & 1-----Galveston-Vlotorla Dlv 1st M 510.000,000 a u t h -. .
50
Galveston Houst & Hend of 18S2— 1st M .g .C o y c’ &r
Galveston Terminal— 1st M 5 5,000.000gu (te x t)-B a .x
Galveston W harf Co— 1st (r ej M gold s
First series (wharf & railroad) gold 5s sink tu n d .zc
Second series (wharf & railroad) gold 5s s t— zo
16
Genesee & YVyominz R R — 1st M gold $500d )0 0 -- -C o l
"Geneva C o r n in g & S o u t h e r n — See N Y Central R R
Georgia & Alabama— Georgia Carolina & Northern— See Se
85
Georgia Coast & Piedm ont— First M g 5 1 ,000,0 0 0 -Gx
Inooino debentures------------------------------------------- — - x
New mtge S3.500,000 auth gold red 105......... -,-C °lx
Georgia & Fla— Comm on stock 515,000 per m ile-----Pref stock non-cum partlo. $10,000 per m ile— — —
53
Mlllen & South 1st M .................... .............- —
284
Georgia & Florida mtge $12,000,000 gold — BBaxc
Gen M g (cum inc for 10 yrs) red par------ FBa.xc
Georgia & Florida Term M 5200.000 guaranteed
x
T ext
Georgia Florida & Alabama— First mtge gold -B a.
98
Georgia Midland R y— First M gold $1.050,000ln tg u .x
Georgia Pacific— See Southern R y
307
Georgia Railroad & Banking C o— st0 0 * - - ------------— •
Bonds refunding not mortgage currency..............zo
Bonds not m ortgage <$200.000 are 5s) - - - - - - - - ­
Bonds not mortgage currency (V 87. p 2 2 0 . 2 Sb) .z o
G e o r g ia Southern &_Florida— Com m on^stock..............
First prof stock 5 % 3c partic
n la non
Second pref 5 % & P ^ t lc non-cum $ l,0 84 0(W
-285
Flrst mortgage gold $4.000. ) )0 -- - - - - - - 392
Pir^t nnn^ol mortflraffe $ 1 0 .000.000 goi(i---lN .xo ocr
E qu ip m enttrest Ser C due 525 000 sem l-ann- - E q x
' do
do
Ser D due S22 or $21 M s-a — Bax

D a te
R onds

R a te

A m ount
O u tsta n d in g

Par
V a lu e

%

$ 10 0 $2,539,992
8.176.000
1,0 0 0
1881
38.000
1,0 0 0
1907
1.008.000
1,0 0 0
1915
See text
1,0 0 0
1905
325.000
100 3cc
1913
4.728.000
1,0 0 0
’71-'80
1,0 0 0 13,418,000
1881
2.539.000
1881
9.023.000
1910 — l'.OOO
2 .12 2 .0 0 0
1,0 0 0
1913
1,106,000
1,0 0 0
1908
489.000
1,0 0 0
1882
1,0 0 0
1.363.000
1890
907.000
1,0 0 0
1901
500.000
1,0 0 0
1899

6 g
5
4>4
5 g
0
6 g
5 g
5
6
5 g
6
6 %
5 g
5 g
5 g

aboard Air Line Ry.
32.000
5 g
1,0 0 0
1906
5
70.000
1912
1.705.000
5 g
10 0 &o
1912
5.250.000
10 0
10 0
3.500.000
2 12 .0 0 0
5 g
1.0 0 0
1905
5.595.000
5 g
500 &c
1907
2 .000,000 See text
500 &c
1912
0
200.000
1,0 0 0
1910
2.113.000
5 g
1,0 0 0
1904
3 g
1.650.000
1,0 0 0
1890
1897
’82-’87
1907

1895
1902
1910
1912

10 0
1,0 0 0
1,0 0 0
1,0 0 0
10 0
10 0
10 0
1,0 0 0
1,0 0 0
1,0 0 0
1.0 0 0

q'hn Chatham B k. 3c T r. C o. is m tgo. trusteo. V . 81, p. 1375, 1550'
V n V re n d n g Jum )30 1915, gross, $168,245: not, $28,236: in t., taxes, & c.,
S o n f o b a l a n o o d e f . ,$ 4 3 806. In 1913-14, gross. $187,082 ;not, $44,986.
Ir^
G M J ^ ’aldwlnT S ec., Gordon C . C arson. 120 B ’w ay. N . Y . - ( V .
97, p. 950.)
GA1 VESTON HA RR ISB U R G & SAN ANTONIO R Y .— (See M a p S o u t h e r n
P a c i f i c ) — i )wns Galveston, via Houston, T ex ., to cast bank of R io Grande
River *832 miles* Bccvllle to Rosenburg, 147 miles: San A ntonio to I ort
Lavaca 138 mhos: Magers to W est Shore. Galveston B ay. 46 miles; W arton
miles* branches, 115 in ., owns Jointly 2 in.; trackage. 1 m .;
tntsl 1 W m
Southern Pacific C o. owns $27,055,900 o f the $27,084,372
s?ook (par $ 10 0 ) . v “I ; p. 2642; V . 80. p. 1424: V . 81. p . 2 1 1 . 608. 1242;
V . 83. p. 1528.
R O N D S __T he G alvcston-V ictorfa D iv . 1st M . 6s ($10,000,000 auth.
Issue) cover the properties acquired in 1905 and the now lino from Stockdale
in riiinro T ex. 47 miles; $9,022,000 or the bonds have been Issued, and are
held b T th e So. Pac. V. 92, p. 1030; V . 94. p. 130; V.,9 0 . p. 1772.
“ T h e Western D ivs. 2ds (then $6,354,000 outstanding) woro under an
avreomont made In 1893 treated as Incomes, but under a later agree­
ment made In D oc. 1914 with the holders o f the bonds, part were
retired and the remaining $2,539,000 "stam p ed ” with a guaranty b y
flnni-hnrn Pacific C o. o f paym ent o f principal and Interest as reduced from
0 % t o T % from Jan 1 l 8 lS . V . 100, p. 397. E qu ip, bonds, $1 558.000 6s,
owned b v Southern Pacific. V . 70. p. 1300; V . 77. p. 2160. The Sou. Pac.
o T owns $ 1 1 4 000 out o f a total o f $2,539,000 M ex. 3c P a c. ext. 2d M . 6s
and $ 47 2 8 .0 0 0 G . H . & 3 . A . East D lv . 1st 6s (e x t.), due A ug. 1 1935.
EARNINGS.— 10 m os.,f 1915-16------ Gross, $10,684,178; not, $2,425,509
lulv 1 to April 30.
11914-15____Gross.
9,480,448; not, 1,286,433
F or year ending Juno 30 1915: Gross, $11,212,140; net, incl. other Inc..
*2?338?G08: charges. $3,401,302; b al.. d of.. $1.122.894.— (V . 100, p . 397.)
OALVESTON HOUSTON & HENDERSON R R . OF 1882.— Owns from
Galveston. T ex ., to Houston. T ex .. 50 miles
See V . 61. p. 1013 )
O R G A N IZ A T IO N .— The M. K . & 3'. and International & Great Northern
have had trackage rights since Deo. 1895 under a contract providing for pay­
ment to mtge. trustee of $100,000 yearly to meet Interest on G. H . & H .
bonds and an additional rental of $24,000 per annum for dividends or other
nurnoses— see V. 61. p. 1064; V. 63. p. 697. D lvs., May 1904 to 1906. 4%
vnarl v* slnco to July 1 1913. none. M . K . 3c T . owns 4,999 shares o f stock.
O f the 1st gold 5s ($5,000,000 authorized issu e).$2,000,000 were issued to
retire the old bonds due April 1 1913. O f the remainder, $1,000,000 Is
rosorved for not over 90% or cost o f now equipm ent and $2,000,000 at not
over $1 000,000 yearly for cost o f im provem ents. Redeemable at 105 on
any Interest d a y. V . 98. p . 839; V . 102, p . 1987.
s to c k . $1,000,000: p a r, $100. For the year ending June 30 1915, gross,
1344 944. against $319,145 in 1913-14 and $321,931 in 1912-13; not, $89.­
708 ’against $65,477, and $68,804, respectively; taxes, $28,578. against
$3 3 ! l 59 and $3 5 ,9 2 0 .— (V . 98. p. 304, 839. 1392; V . 102, p . 1811, 1987.)
GALVESTON TE RM IN A L R Y .— Owns extensive terminals at Galveston,
T ex used by Trinity 3e Brazos Valley R y .. Colorado Southern and ChlcR f ’ A Paclllo. which own practically all the stock. V. 87. p. 950. Owns
- Hrve freight depot and warehouse and about 14 blocks along Galveston
water-front. In Sept. 1914 3.49 miles o f main line and 20.33 miles sidings
had boon com pleted. Stock. $25,000. O f the 1st 6s ($5,000,000 auth.
Issue) 81 051,000 guar, join tly by tho C h. R . I. 3c I’ , and C ol. 3c Sou. V .
80 p. 1 1 0 0 . 1589: v . 87. n. 1478. C h. R . I. 3c 1>. share o f guaranty In
1915 had not boon paid b y receivers o f that com pany. Pres., J. W .
Robins Houston, T ex .; V .-P ., Chas. Fowler; Sec. 3c T roas., E. It. Oheosbrougb, both o f Galveston, T ox .— (V . 87. p. 936; V . 100, p. 2085.)
m i VF8TON W H ARF CO.— Owns wharf properties extending from 10th
ir. ,iist Sts Galveston, T ex ., and 12.8 miles main lino switching tracks In
eitv with vard tracks and sidings. Incorporated In Texas F eb. 24 1854.
Stock outstanding Juno 30 1912. $2,626,600; par $100.
D ividends tn
1904. 3 & % : 1905. 4VS%: 1900 to 1908, 5 % yearly; 1909, \ % % \ 1910 to
As oV lSS2°co v e r only tho real estate, the 5s of 1890 and 1901
tv* 7 s n 059* V 95 t> 483i, both the wharf and railroad property. All
three nHges. have sinking funds sufficient to redeem the bonds by m aturity.
ihj*p o r 'P __For vear ending June 30 1914, gross, $526,123; not, $74,719
RIS1 U l U . 2
i..* taT.vs Arc «9C,« ano. ,llvs
*1 31339
other Income
b al., sur.,
John Sealy, owr.,
----- - - ,
— (V . 95, p. 483; V. 99. p. 810.)
OPN PSFP * WYOMING R R .— R etsof. N. Y ., to Pittsburgh & Lehigh
Jot L 1 1 miles* Retsof Jet to Gdegvlllc. 4 m .; branoh. 2 m .; total. 16 miles.
Stock $50 000 oar $100. Dlvs. from O ct. 1899 to 1902. Incl.. 5% yearly;
190IL 8 % ?1 W l '8 %1;' 1905 to A p r * _ ^ 0 . 4 % yearly (s .-a .): A ug. 1910, 1 H 1
N o v i L / c r . i n i i k v r nald \ M %
1912 and 1 9 1 3 ,5 % (Q .-F .). 1914.
F eb i m l M a v 1 l l % - A u g l 914, to M a y 1916. 1 >A % quar. Vear 1914-15,
ot<»8 $204 542* not $100 080: charges. $59,718; d ivs., (6 % ) $30,000; bal..
8^°?^'$ 1 1),3 6 2 . ’ Pr<M.,M. R - Fuller, Scranton, P a.; Sec. 3c Treas.. W . II.
Barnard, 2 Uector S t., N . Y .— (V . 76, p. 1248.)
(IFO PR IA COAST w'i PIFOMONT R R .— Extends from Darien to Collins
G a !, 85 miles: oom nletcd In July 1906, Extension frem Darien to Brnnswlck, 15 m ., opened M arch 1914: extension also proposed north from ReidsVllQ f 1 the
^ of To 1 2 ^ ($8.500^000 authorized Issue) a block was sold
for extension from Darien south to Brunswick. 15 m
bonds are reserved for extension from Re Ids v 11le to V Id a lla^ on the north
and for Improvements, and to take iip underiyinu bonds, 11mtted to $ 1 2 .()(k)
against future extensions* $600,000 o t the lst M . bonds had coupons
tached to and Including Sept. 1915. V . 94. P- 1448, 1703. Year ending




53

RAILWAY STOCKS AND BONDS
L a s t D iv id e n d
an d M a tu rity

W h en
P a y a b le

1915. 6 %
Deo 1 1921
T o Apr 1917
N o v 1 1925
N ov 1 1935
O ct 1 1919
Q—
Aug 119 3 5
F &
.. May 1 1931
J July 1 1931
D Jun e 1 1940
O Apr 1 1933
S Mch 1 1938
JlJuly 1 1932
O Apr l 1940
AiAug 1 1926
O Apr 11929

J
&
A &
M &
M &

M

JMch 1 1940
. July 1 1936
) Apr 11962

&

A "S '

A
M
F
J
J
A

6 Apr
N N ov
A Feb
J July
J July
O Apr

1 1955
1 1950
1 1932
1 1930
1 1954
11946

P la c e s W h e r e In te r e s t a n d
D iv id e n d s a r e P a y a b le

Guaranty Trust Co, N Y
Office. 32 Nassau S t, N Y
Guaranty Trust Co. N Y
Fidelity T rust C o , Phila
Savannah, Ga
Chatham Bank 3c T r C o
Owned by Sou P ac Co
So Pac Co 165 B 'w a y .N Y
do
do
Central T rust C o , N Y
Bankers Trust Co, N Y
N at City B k, N Y , or Gal
do
do
do
do
C olum bia Trust C o , N Y
Interest In default
Int only pay when earn
Interest In default
Hanover Nat B k, N Y
See text
Bankers' Trust Co. N Y
J P Morgan & Co. N 5

4.200.000 12 in T 6 Q — J Apr 15 1910 3% Augusta, Ga
A m E x Nat B k, or Aut
5
J *
J Jan 1 1922
1 ,000.000
do
do
500.000 5 & 0 J & J Jan 1 1922
Am E xch Nat B k. N >
4
J ft
J Jan l 1947
1 .000.000
2 .000.000
N M a y 8 '16 2 H M T de D C o , Balt: & N V
684.000
do
do
N M a y 8 '16 2 «
1.084.000
do
do
J July 1 1945
3.838.000
d
o
do
J
July
1
1952
2 ,000,000
S T o Mch 15 1920 E quitable Trust Co, N Y
200.000
Bankers
T
rust
C
o. N Y
A
T
o
Aug
1
1922
275,000

line from Carabelle to Appalachlcola, F la ., 32 miles. S tock. S450.000,
par. $100. In June 1909 President Williams, it was r e p o s e d , piwehaswl
the m inority stock and practically all o f the outstanding bonds. V .8 8 ,
p . 1437. Bonds see table above. In 1906 auth* Pref. stock, non eI^ u od 1913.
For year ending June 30 1915, gross, $483,545; net, S92.182, other In­
com e (d e b .). $1,547: Int., taxes, 3cc.. S1 5 6 .9 24 ; bal., d e f y $66^389
In
1913-14. gross, $609,621; net, $90,004.
Brea., C ora B . WUllams. S ec.T reas., L. G . P a p y, Bainbridge, G a.— (V . 88, p . 1437, V . 100, p . 1672.
GEORGIA & FLOR IDA R Y .— Owns from Madison. Fla. (40 railes from
Gulf of M exico), to Keysvlllc, Ga.. 223.6 miles; trackage. Ke.vsvllle to Au
gusta. Ga., 25.9 m .; other trackage, 3.7 m .; branches, 96.5 m .; total
June 30 1914, 349.8 miles. Owns stock of Georgia & F lorj5 a./Berm- '-■o-•
o f Augusta and Valdosta and guarantees Its 1st 0s. A-consolidation in A u g .
1907. V . 82 p. 1211; V . 85, n- 345: V .8 7 , p. 480. 936. 1533; V . 88. p. 681
On M a r. 29 1915 Harry R . W arfield o f B altim ore■and W . R . Sullivan o f
N ow Y ork were appointed receivers. On M a r. 2 1916 Langhorne M .
W illiam s was appointed to succeed J. M . W ilkinson, deceased. \ . HKJ,
1 Protective C om m ittee for 1st M . 5s o f 1907; Franklin Q. B rown, 33 Bine
St N Y . and others. Depositaries, Baltimore T r. C o., Central I r . G o.
o f N . Y . and Richm ond (V a.) T r. 3c S. B k. V . 102, p. 712.
B O N D S.— Bonds o f 1907 to be limited to *12.000,000 at *20;900 p er
mile, of which $6,312,000 have been issued, $5 ,600,000 being In hands of
public, $212,000 reserved to retire Mlllen & S. W . bonds and $630,000 In
treas. V . 85. p. 221. 530: V . 95. p. 1472. Holdersi o f 1sti M . bonds were

In Jan. 1914 about 82% o f bonds had agreed to funding o f coupons. V . 98.
p. 155. V. 97, p . 1024. 1504. Car trusts M a r. 1915. $77,712.
Gen. M . bonds, see V . 94. p. 630, 826, 911. 1118.
_ R, n n
E A R N IN G S — 10 m o s .,(1915-16----------- Gross. 5444,094. net, S84.110
5 < ,5i8
July 1 to A pril 30.
\1914-15----------- Gross, 4 0 9 .680. n e t ,
R E P O R T .— For year ending June 30 1914. gross. * 8 5 1 ,1 3 1 : net. $71,991,
other Incom e, $7,101; Int. on bonds, $417,683. rentals, A c ., $122,608.
b a l.. d e f.. $461,197. In 1914-15, gross $682,045, oper. d e f.. after ta x w
$67,121. R ep ort for 1910-11 In v *.
no°3A 1 i r T V ^f)2L n ^ 2 ^
Williams; Sec. 3c Treas., C . T . Earnest.— (V .1 00 , p.1168, V . 102, p. 712.)
GEORGIA M ID L AN D R Y .— Owns road from Columbus to M cD onough,
Ga., 98 miles. Leased from July 1 1896 for 99 years to ^ e S w th e rn R ail­
way Co. for $49,500 annual rental (being Interest on ^ e flrst m tge. bonds,
& o . ) and $2,500 for Columbus terminal property.
Stock Is $1,000,000.
owned b y Southern Railway C o.— (V. 63, p. 361; V . 82, p. 7 o l.)
flF D P n iA PR & BAN KIN G CO.— Owns from Augusta. G a., to A tlanta,
Ga. *171 m .; branches to Washington and Athens, 58 m .: Macon & Augusta
RR* (proprietary ro a d ), Camak, Ga., to M acon, Ga.. 74 m .; trackage, 4 m ..
total. 307 in. Owns 50% stock of Western R y . of Ala. (the Central o f Ga.
R y . owning the other h alf). In 1910-11 sold Its 47% Interest in A tl. & W est
Point to tho lessees at $135 per share, with option o f purchase at end o f lease
L e a s e .— In 1881 road leased for 99 years to W . M. W adley e t a t t o r the
Cent of Ga. and the L oulsv. & N ashv., at $600,000 Der year, but In April
1899 the Loulsv. & Nashv. was held to have acquired all rights under the
lease; Atlantic Coast Co. 1899 acquired half Interest. v * 68. P* 722 Owns
m ajority ($594,900) stock " G a . R R . Bank. E qu ip , trusts 1913. $327,261.
D IV ID E N D S .—
\ 83-’87. ' 8 8 . '89 to Jan. '11 Since to A pr. 15 T 6 .
Since 1881..............% J 10 y rly .lO H
H yearly.
«o v o i'Y o n • net
Railroad earnings for year ending Juno 30
'* ^ 0 n ^ ’
$459,191; other Incom e, $148,292; rental to G a. R R . 3c B kg. C o .. $600,000.
rentals, taxes. 3cc.. * 19 0 .7 3 4 ; add'ns & betterm ents. $41.978. b a l.. d e f..
$225.229.— (V . 92. p .7 9 5 ; V . 95. p . 1039: V . 100. p. 1078. 1592.)
G r n iw ji a <sOHTHFPN & FLOR IDA R Y .— ( S e e M a p o f S o u t h e r n R y . ) —
O w W m l f ! S , n T G a ! ! t o P alrtka. Fla.. 285f miles: on N ov. 1 1902
oh&sed Atl V . & W . R y .. Valdosta. Ga., to Jacksonville. F la.. 107 miles,
trackage Into Jacksonville, 3 m .; total, 395 m. V . 60. p. 928: V . ‘
'i'*l,'
Also owns one-eighth o f stock o f Jacksonville T erm . C o . (V . 7<, p . 626) and
S w o K t nt ^ .° K lS H m ? jlle
D IV ID . on

J1892.

1898.

1899.

U

Florida S outdcm H y - W o r t h t o

1900-05.

19 0 0 . 1907 to M a y 1916.

,e °Innm 5 etho N o v . 7 dividend on both c l ^ f o f p roL w as deferred” but paid
D ec. 20. V . 101, p . 1972.
^
^
B O N D S .— First m tge. o f 1895 (A b s tr a c t. V . 61. p . 429) provides that the
$684,000 f i r s t p r e f . s t o c k shall be a lien on tho assets covered b y that m tge.
second only to tho bonds and coupons.
T he first consol. 4s o f 1902 are for the a u t h o r iz e d a m o u n t^
o f which $4,684,000 are Issuable to retire tho $4,000,000 5s and (>684.000 1st
pref. stock and $3,316,000 aro reserved for future needs. \ . 1 5, p . 980.
L A T E S T E A R N IN G S .— (1 9 1 5 -1 6.-G ross, S2.056-.233; net, 5421,600
10 m os., July 1 to April 30.\ 1914-15.-G ross,
1,889,535; net,
208 ,i8 3
R E P O R T .— R eport for 1914-15. In V . 101. P- 1459, showed:
J u n e 30
Gross
O p er.
O th er
In te rest,
P re f.
B a la n ce.
Y r n r 't ___
R a m s.
In com e.
In com e.
<vc.
j j iv s .
o u r .o r iJ e T .
1914-15
$2 215,773 $253,405 $108,158 $357,304 $44,200 def.S39.941
1 0 1 3 -1 4 " : 2.598.760 347.018 161.460 359,504
88,400 sur. 60,574
Pros., Fairfax ilarrison, W ashington, D .C .— (V . 102, p. 1 12.)
G E O R G IA S O U T H W E S T E R N & O U L F R R . (A lb a n y & N o rth e rn
u v ) — Projected to exteud from Albany, G a ., southwest to St. A ndrew s,
Fla., on the G u lf o f M exico. In Feb. 1910 p o u r e d the A lbany 3c N orthern
R v .. extending from Albany northeast to C ordelo. 35 miles, with capital
stock. $350,000. and bonds, $400,000. V . 90, p. 109, 502. Uses A lbany
Passenger Terminal C o . station (opened O ct. 4 1913). owning on e-flftn
o f the stock. G . S. W . 3c G . stock auth., $4,000,000. issuable at 520.000
per mile; outstanding June 30 1914. $40 J 0 0 . In N ov. 1908 filed a 5 4,000.­
000 m tge. to Carnegie Trust C o .. N . Y ,, to secure 5 % bonds Issuable at

J A M E S

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*>....... Hill Lines under Construction

Lines in Operation
Projected Lines

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MAP OF THE
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■■■■■"■» Lines i
itim m m k Lines under Construction ■ ■ ■ ■ ■ Projecl




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56

RAILWAY STOCKS AND BONDS

12

1915
1896
1909
1891
JC

RR

36
36
42

D a te
B onds

GO
O

G e o r g ia S o u t h e r n & Pla ( C o n c l u d e d )—
do
do
Ser E duo $22 M or $23 M s-i
G e o r g ia S o u t h w & G u lf— A lbany & N or 1st A
G 8 VV & G u lf m tge................................................. _
<'ettysb& Harris!)— Con(now 1st) M $565,000g (t e x t).x
Qila Valley Ulobe & Northern— See Arizona Eastern
Goshen & D eckertow n— 1 st & 2 d M ($60,000 are 2 ds)
G o u v e r n e u r & O s w e g a tch ie — See N Y CJ & H It liR
Grand Rapids & Indiana R y — Stock $6,000,000_____
First M m ostly land grant g extended In 1899___zo*
First M extended gold guaranteed b y Penn R R .z c *
Second m ortgage $5,000,000 g o ld ___________ :__ xo
Grand Rapids & N orthw— 1st M $5,000,000 gold .G P x
Grand Trunk P a c— First M £ guar Can G ovt (text)c& r
Prairie Section M (Ser A) £2,100,0001 guar p and I
Mountain Seo M (Ser B) £2,050,0001 b y Grand
Lake Superior DIv 1st M £1,550,0001
Trunk
Sterling bonds g u a rb y C a n G ov t $16,000,000.c*&r*
D eb stk $25,000,000 rod aft 1936. Int gu by G T
Loan $10,000,000 seo. on Prairie section gu b y G . T .
Loan $15,000,000 covered b y deb. gu b y G . T ____
D om inion loan______________________________________
Grand T rk Pac Br Lines 1st M gu b y Alb text__c*
do
do
1st M gu b y A lb £238,600________
do
do
guar b y Saskatchewan (see te x t),
do
Bge&Torrn $4,450,000 bu b y Sasic text
Secured gold notes £2,000.000 guar red 1 0 1 _____ c*
Grand Trunk R y— Consolidated stock £ 23,318,309__
Canada A tlantic R y capital stock __________________
4 % guaranteed stook non-cum ulatlve £12.500.000First preference 5 % stock £ 3 ,4 20 .0 0 0 _____________
Second preference stock £ 2 ,5 3 0 ,0 0 0 _______________
Third preference 4% stock £ 7,168.055____________
Debenture stock £ 4,2 70 ,5 7 5 _____
1
Consolidated debenture stock (collateral trust) cum )
Second equip mtge (subject to 1st M In tru st)___oj
Great W estern perpetual debenture stock _________ o
Northern R y third preference A & B bon d s______ o\
Debenture stock 4% perpetual £425,850_______/
C anada A tlantic consol (now 1st) M g gu p & I____
Pemb South IstM gu. b y Can. Atl. (V 8? t»451 1 1 0 1 '

M ile s
R oad

00

R A IL R O A D C O M P A N IE S
(F o r a b b r e v ia tio n s , & c ., s e e n o t e s o n f i r s t p a g e ]

367
367
42C

1891
1891
1896
1908
1,755 1905
916 1905
83S 1905
188 1905
1914
_.

58

1909
1913
1914
1909
t909
1914
1914
1882
1884
’7 3-’ 74
’ 73-’ 74

3.512
3.512 f 1874
11874
11869
836 H Var
490 M (1808
11884
396 1905
1906

Par
V a lu e

$ 1,000
1,000
100
1,0 0 0
500 &o
10 0
1,0 0 0
1,0 0 0
1.0 0 0
1,0 0 0
£ 1 0 0 &o
£ 10 0 & o
£ 1 0 0 &o
£ 1 0 0 &c
£ 10 0 &c
$ 10 0

£ 1 0 0 &o
£ 10 0
&c
£ 10 0
£ 10 0 &c

£ 10 0

£ 10 0
£ 10 0
£ 10 0
£ 10 0
£ 10 0
£ 10 0
£ 10 0
£ 10 0
£ 10 0
100, £200

500

$20,000 per mile. A tlanta & N orthern car trusts Juno 30 1916, $3,000For year 1913-14, gross earns., $133,720; net, after taxes, $43,358; d educ­
tion s, $34,037; b al., sur., $9,321. In 1914-15, gross, $95,387; net, after
taxes, $23,864; other incom e, $101; int. on bonds, $27,775; taxes, rontals
and hlro o f equip ., $8,566: bal., d o f., $7,929. Pres., W . M . Legg, A lb a n y,
G a .; S ec.-T roas., H . J. B ruton, A lbany, G a .— (V . 90, p. 502.) ■< ...
GETTYSBURG & H A RR IS B U R G R Y .— Carlisle to Gettysburg. P a .. 31
m .; branch to Round T op , Pa.. 3 m .; branch Pine Grove Furnace to H un­
ter’s R un, 8 m. The Reading Co. owns $571,300 of the $600,000 capital
stock; $535,000 deposited under its gen. m tge. o f 1896. O f consol. 5s $215.­
000 were guar, b y Phila. & Reading IIU. (foreclosed). Gross earnings year
ending Juno 30 1915, $228,160; net, $53,809; int. on funded d eb t, $28,250:
taxes, $2,413; rents, & c., $38,870; additions, & c., $5,139; b al., d eficit,
$20.863.— (V . 95, p. 1039.)
G R A N D R A P I D S & INDIA NA R Y .— (S e e 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, 63 m .;
total owned, 420 miles; operates the following roads, but has not assumed
the old com p any’s leases thereof: CIn. R ichm ond & Ft. W ayne R R ., 86 m .;
Traverse City R R . (nearly all the stock and all the Income bonds ow ned),
26 m .; M uskegon Grand Rapids & Indiana R It., 37 m .: trackage, all lines,
8 miles. See V. 74, p. 777; V. 76, p 811; V. 82, p. 988, 1098
Successor
A ug. 1896 o f R R . C o. foreclosed (V . 63. p. 153).
S T O C K .— S tock, $5,791,700, of which Pennsylvania Interests are sup­
posed to own all or nearly all. Penn. Co. on Jan. 1 1916 owned $2,966,900.
D I V ’S .— 1900. 1 % : 1901, 2 % ; 1902 to April 1910,3% (y ly ): none since.
B O N D S .— The first m tge. bonds extended at 4 )$ % are endorsed with the
guaranty of the Penn. R R . Co. to purchase the coupons as they m ature,and
the bond Itself at m aturity. See guaranty, V. 56. p. 649: V . 69, p. 1193.
Of the 2nds, $888,000 were owned Jan. 1 1915 b y Pennsylvania R R . and
$3,487,000 by the Penn. C o m p a n y .
E A R N IN G S .— 10 m os.. (1915-16___ Gross, $4,669,781; not, $1,025,409
July 1 to A pr. 30.
\1914-15____Gross, 4,479,587; not,
834,227
R E P O R T .— Report for 1915 in V. 102, p. 1712 In 1915 carried 3,224.561
tons of freight, of which 30% was lumber, <5cc., and 20% coal and coke.
C a le n d a r
G ross
Y e a r — E a r n in g s .

N e t , a fte r
T a xes. & c.

O th er
I n te r e s t, A d d itio n s , B a la n ce,
I n c o m e . R e n ts , & c . B e lt 's ,& c . S u r p lu s .

1 91 5 ------ $5,330,928
$1,085,244 $58,200 $848,599 $255,000 $39,845
191 4 ------ 5,387,885
887,829 52,211
816,452
111,467 12,121
Pros., John II. P . Ilughart.— (V . 102, p. 1625, 1712.)
G R A N D T R U N K P A C I F I C R Y . — ( S e e M a p s . ) — This new trans-conti­
nental railway Is being built with the join t financial support o f the Govern­
m ent and the Grand Trunk R y. o f Canada. It will consist o f a main line
o f an estimated length o f about 3,550 miles, from M on cton , N . B .. to
Prlnco R upert, B . C ., on Pacific Ocean, 30 miles south o f Alaska lino, with
branches, 1,188 m . T otal, 4,378 m ., viz.:
1. A l m o s t c o m p l e t e d b y C a n a d i a n G o v t , a n d i n J u n e 1916 o p e r a t e d b y i t —
Eastern DIv.. M oncton, N. B ., via Queueo to W innipeg, a b ou t____1.804
(T o be leased for 50 years to Grand Trunk Pacific R y. C o.— for
first 7 years at cost of operating only and for remaining 43 years
at 3 % on cost o f construction) estimated to D ec. 31 1916 at
$179,586,877.
2. W e s t e r n D i v i s i o n , B u i l t a n d O w n e d b y C o m p a n y —
a. Prairie Section, W innipeg to R ocky Mountains, a b ou t...............
916
b . Mountain Division, R ock y Mountains to Pacific Ocean, a b ou t__
829
3. L a k e S u p e r i o r B r a n c h , B u i l t a n d O w n e d b y C o m p a n y —
Thunder Bav on Lake SuDerlor to East. DIv.. east of Winnipeg
ISN
4 . S u n d r y B r a n c h L i n e s — Built b y co. and Its subsidiaries___about 1,000
V . 98. p. 73. 1244, 1528. W innipeg terminals, V. 89. p. 666.
In June 1916 no agreement had been reached regarding the operation
o f the Dom inion built lino, the “ Transcontinental R y .” extending from
M on cton , N . B ., to W innipeg, 1,804 miles. The com pany claims that the
road in question has not boon com pleted within the moaning o f the con­
tract and that thoreforo thoy are not obliged to operato it nor provide it
with tho stipulated amount o f rolling stock ($20,000,000 w orth). The
G o v t, is operating this division in a limited fashion. V. 100, p. 1348, 1592.
O R G A N IZ A T IO N .— Incorp. by Canadian Parliament in 1903. V. 80,
p. 996: V. 81, p. 1315. As to Grand Trunk Pacific Branch Lines C o., see
V. 90, p. 1044 (also bonds below); V. 82, p. 333: V. 8 8 . p. 295, 822, 1372,
1437. Option on P ac. Great E ast. R y ., 450 m .: see that co.
G o v e r n m e n t L o a n . — Tho liabilities o f tho Grand Trunk P acific R y . Cor
began to accumulate against not revenuo in Jan. 1916 and as tho Grand
Trunk R y . was not in a position, owing to tho war, to assume tho burden,
the Canadian Parliament voted to grant the Pacific C om pany an $8,000,000
6 % loan payable on demand and secured b y m ortgago. T ho procoeds
are to meet Interest for at least a year upon tho securities o f tho com pany,
to m eet d oficit in operations and to purchaso rolling stock (V . 102, p. 1811,
1892, 1982,2166). T ho amount o f interest guaranteed’ b y tho Grand Trunk
C o. is about $2,750,000 annually, to which must bo added the Intorost on tho
am ount spent on branch lines, ovor and above tho amount for which bonds
havo been or will bo guaranteed b y tho prlovincial Governm ents. It is
oxpected the provincial Governm ents will issue additional bonds to cover
som e o f this am ount, leaving probably about $8,000,000 duo to the Grand
Trunk R y . C o. T ho amount o f intorost guaranteed by tho G overnm ent,
including that on tho Governm ent loan o f $25,000,000, amounts to about
$4,000,000 per annum. In any case the Governm ent would havo to find
interest charges to tho amount o f $4,000,000, which am ount, howovor, in­
cludes $1,700,000 which tho Governm ent has to pay on tho M tn. Sec. bonds.
S T O C K .— Authorized, $45,000,000 (par oFsharea, $100 each)7*of which
the $25,000,000 com m on Is owned by the Grand Trunk R y.
B O N D S.— The Canadian Government agreed to guarantee 3% 1st mtge
bonds for an amount up to 75% of the cost of construction of the VV’cstern
division, such amount fa) In the case of the Prairie Section not to exceed
$13,000 per mile, or £3.210,000 In all: and (f» three-quarters of total cost
per mile from the mountains to Pacltlo Coast, called Mountain Section.
Total Issue, £14,000,000: Royal Trust C o., Canada, trustee. V. 80. d
996, 1234, 1363; V. 81. p. 507, 613: V. 89, p. 224, 286: V. 91, p. 214, 276.
Decision as to guaranty bv G o v ’ t. V . 93, p. 1386. 1462: V . 95, p. 1607.




A m oun t
O u ts ta n d in g

$450,000
400.000
155,500
565,000
246,500

R a te
%

W hen
P a y a b le

444 g M & N 15
5 g J & J
J & J
5 g
A & O
5

6

[Vol. 102.
L a s t D iv id e n d
a n d M a tu r ity

N ov
Jan
Jan
Oct

P la c e s W h e r e In te rest a n d
D iv id e n d s a re P a y a b le

’ 16 to ’25 R ichm ’d.V a.O Id D om T r
N Y & B altim ore
1 1946
Central T rust C o , N Y
1 1959
Reading Term inal, Phlla
1 1926

Various 1928-1929

A & 0 Apr 25 1910 1 H
5,791,700
918,000
&
J July 1 1941
3^g J
4,455,000
J July 1 1941
4 44 g I &
5,000,000
A & O Oct 1 193a
4 g
F & A Feb 1 1958
2 ,000.000
5 g
£14,000,000 3 $ or £ J &
J Jan 1 1962
£ 2 . 100,000
A
4
&
O Apr 1 1955
£2,050,000
4
A
&
O Apr 1 1955
£1,550,000
A
4
&
O Apr 1 1955
88,440,848
J & J Jan 1 1962____
4
£7,136.980
M At S Perpetual
4
4
$ 1 0 ,000,000
A
A pr. 1 1919
$15,000,000
4
,r & J July l 1923
$ 6 , 0 0 0 ,0 0 0
M & N Overduo
5
£500.000
M & N Fob 25 1939
4
M f c N Feb 15 1942
£238.600
4
M <& N Jan. 22 1939
£2,032,800
4
See text
444 M & N 1943
$9,720,000
M & S 2
5
£22,475.985
None ever paid
£1,479,452
£12.600.000 4 for T 5 A & O Apr 1916 2VS%
£3,420,000
A pr 1914 2 H
£2,530,000
A pr 1914 2 H
£7,168,055
Apr 1914 2 V*
£4.270,375
5
J tk. J 14 Irredeemable
£24,024.455
Irredeemable
4
3— J
£373,000
,T & J July 1 1919
6
£2,723,080
F & A Irredeemable
5
£14.600
A & O Irredeemable
6
£308,215
F & A Irredeemable
4
$16,000,092
& J
4 g J
1 1955
150.000
4
M & S

N Bk Or Co. Goshen. N V
Office Grand R ap, Mich
W inslow .Lanler& Co.N Y
do
do
Philadelphia, Pa
Philadelphia & Chicago
Bank of M ont, Lon & NY
lC o ’s O ffice, L ondon , of
)
Bank of Montreal,
New York
London, M ontreal & N Y
9 N Broad S t.L on d on . EP
N Y M ontreal & London
do
do
do
do
do
do
do

do
do
do
do
do

Check from Co’s Office
do
do
do
do
do
do
•Glyu, Mills, Currie & Co
London
M ont, N Y * London
Royal T r C o, Montreal

In June 1914 an A ct was passed providing for tho guaranty on certain
conditions b y the Canadian G o v t, o f £3,280.000 4 % bonds duo Jan. 1 1982
to aid in com pleting tho road. In N o v . 1915 $5,524,000 o f tho issuo was
pledged to secure $4,000,000 Grand Trunk R y . 2-year notes. V. 101, p.
1628; V. 98. p. 1766, 1920; V. 99, p. 342, 674; V. 100, p. 642.
Series “ A ” (Prairlo Sec.) and Ser. “ B ” (M tn . Sec.) 4 % bonds secured b y
a second mtgo. (N ational Trust C o ., T oron to, trustoo) guar, as to prin. and
int. by tho Grand T runk R y. C o ., seo in V . 80, p . 996; also V . 80, p. 996;
Y . 8 6 . p. 794; V. 90. p. 1165; V. 92, p. 725.
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 A ct of 1904
provides In effect that In the event of default by the com pany for 5 years In
paym ent of the Int. on the 3 % bonds, the rem edy of the Governm ent 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 particular
division p a r i p a s s u between the holders of the bonds guar, by the Govt,
and the holders of the bonds guar, b y the Grand Trunk R y . Co. In the pro­
portion of 75% of such earnings to tho holders of the G ovt bonds and 25
to the holders of the bonds of this division guar, by the Grand Trunk R y . Co.
As to $10,000,000 loan o f 1909, soo V. 8 8 . p. 822, 1194, 1061, 1253. For
$15,000,000 loan o f 1913, V. 96, p. 1629, 1772; V. 97, p. 175. Regarding
G r a n d T r u n k P a c i f i c B r a n c h L i n e s bonds, soo V. 90, p. 1044, 1165; V. 8 8 ,
p. 1437; V. 96. p. 285; V. 97, p. 1583. For Issues guaranteed b y Provinces
o f Alberta and Saskatchewan, seo V. 99, p. 1451; V. 95, p. 1331; V. 96, p.
285: V. 94, p. 1448. As to $16,000,000 guaranty o f 1914. seo V. 98. p. 1766.
T ho first Grand Trunk P acific paym ents for interest after Jan. 1 1916
became duo on M arch 1 and amountod to $940,585.
Perpotual dobenturo stock, seo V. 84, p. 570; V. 96, p. 1296; V . 8 8 , p. 624;
V. 90, p. 303; V. 96, p. 789; V. 94, p . 207; V . 95, p. 1207, 1607; V. 96, p.
789. 1088, 1297, 1629, 1700.
F or £2,000,000 7-yr. 5 % notes o f 1914 soe V . 98, p. 7 3 .
F IN A N C IA L S T A T E M E N T , & C.— A full financial statement as o f
Fob 29 1916 was given in V. 102, p. 1982. T ho Canadian Parliament in
1916 appropriated $150,000 to m oot tho expenses o f a com m ission to dotorm lne what courso tho Dom inion should pursue with regard to the Grand
Trunk Pacific and Canadian N orthorn. Early in 1916 tho Grand Trunk
R y. offorod to surronder all its intorost in tho Grand Trunk P acific,
Branch Linas C o. and Dovolopm ont C o. if tho Govornm ont would relievo
tho Grand Trunk R y. o f all liabilities thoreon and also roimburso it for all
advances to those com panies. Soo V. 102, p. 1982, 1811.
E A R N IN G S .— T ho operating loss for tho year 1915 was $300,000, In­
cluding: Loss on M ountain Soction, $1,200,000 and on branch linos,
$300 000; offsot by earnings o f Prairio division, $600,000, and Lako Su­
perior branch rental, $600,000. T ho intorost paymonts to be m ot aggrogato $5,717,427 in 1916 and $7,206,844 in 1917 on a total bonded d ebt
amounting to $193,251,104.
O F F IC E R S .— Pros., E. J. Chamborlain, M ontroal, C an.; S oc., H enry
Philips; T reas., Frank S cott.—-(V. V . 102, p . 1811, 1896, 1982.)
O R A N D T R U N K R Y . O P C A N A D A .— (See M a p s.)— Quebec. C an .,
M ontreal to C hicago, 111., also to P ortland, B uffalo, D etroit, T o le d o , <&c.
SYSTEM P R O P E R .
REPORTED SEPARATELY.
M ile s .

M a jo r ity slo ck o w n ed .

M ile s .

531
Lines ow n ed____________________3.472 Central V erm ont*_____________
L e a s e d — p a r tly o w n ed .
Grand Trunk W estern*......... ..
347
E n tir e sto ck o w n ed .
Atlantic & St. Lawrence, Port­
land,M e.,to Island Pond, V t . 165 Pontiac Oxford & N orthern___ 101
Buffalo & Lake H uron_________ 164 Detroit Grand Haven & M U * .. 191
Clncln. Sag. &. M ackinaw____________ 53T ol. Sag. & Muskegon_________
96
Other lines_____________________ 211
J o in tly ow n ed .
Detroit & T oledo Shore L in e ..
79
T otal In earnings____________.4,015
Total roa d ___________________5.360
Car ferry. Grand Haven to Milwaukee. *See separate statement this Co.
C A P IT A L S T O C K . & c.— The auth. capital on Dec. 13 1914 was £50 ,­
415,816 stock (£49,573,492 Issued and £842,324 unissued); advances from
Canadian G o v ’t in aid o f construction am ount to £3,111,500.
G o v t . L o a n i n 1916 t o G r a n d T r u n k P a c . R y . — Soo that com pany abov e.
This loan is not an obligation o f tho Grand Trunk R y . V. 102, p. 2166, 1982.
D E B E N T U R E S T O C K N O T E S .— Perpetual consol. 4 % d ob . stock
auth. b y A ct o f 1882 and later A cts has boon Issued from tim e to time to
acquire securities o f com panies consolidated and controlled, amounting
Dec. 31 1914 to £14,451,937 and bearing an annual Interest o f £701,390.
V. 71, p. 84: V. 8 8 . p. 822. 1194: V. 82. p. 692; V. 8 6 , p. 602, 1100; V. 94.
p. 1119, 1763: V . 95. p . 1683-4; V . 96. p. 62; V. 98. p. 1156; V. 95. p. 1207.
1607; V . 96, p. 1089.
In 1914 Parliament authorized com pany to croato additional consolidated
dobonturo stock to an amount tho annual Intorost on which is not to exceed
£100,000. V. 97, p. 1733; V. 98, p. 1156,
T ho £2.000,000 5 % 5-yr. notes o f 1913 are socurod by £2,000,000 porpot.
cons. dob. stk. and the £1,000,000 5 H % 3-yr. notos dated Jan. 15 1915, by
£1,430,000 stock. Both issues are redeemable as a whole or In amounts o f
not less than £200,000 by drawings on any Interest date on 60 d a ys’ notice,
tho trustee to release a proportionate part o f tho collateral. V. 97, p. 298,
521: V. 100. p. 54. T he $12,500,000 544 % 5-yoar notes o f 1915 aro secured
by deposit o f £3.600,000 perp. 4 % consol, dob. stock: red. on any int. date
as a whole or in amounts o f not lass than £200,000 by drawings, a propor­
tionate part o f collateral to be released. V. 100, p. 1917, 2085.
T he $4,000,000 2-year 5% notes dated N o v . 1 1915 aro secured b y
$5,254,632 (1 31 % ) Grand Trunk Pacific R y . 4 % storllng bonds o f 1914,
due Jan. 1 1962 (part o f £3,280,000 issuo, guar., p . & 1., by D om inion G ov t.)
and aro convertible at 100 and Int. Into said bonds at 80 and Int., at option
o f holder, at any tim e prior to m aturity on 30 d ays’ notico to trusteo
V . 101. p. 1627.
Canada Atlantic R y. was merged Jan. 1 1914: V. 100, p. 1432; Its 50-yr. 4s
o f 1905 (R oyal Trust C o ., M ontreal, trusteo), carry guar., prin. & Int., o f
Grand Trunk. V . 79. p. 1641, 2454; V. 80, p. 2343; V, 87, p . 1477.

Par
V a lu e

1896
1913
1915
1915
1915
1901
1906
1912
1912
1911

$ 1,0 0 0
£ 10 0
£ 10 0 &c
£ 10 0 &c
1,0 0 0
1,0 0 0
$ or £
1,0 0 0
1,0 0 0
1,0 0 0

$400,000
£2 ,000,000
£ 1 .000.000
£2,500,000
4,000,000
$260,000
1 ,000,000
2,364,000
2.184.000
198,000

___

1913

1.0 0 0

1.661,000

326.5
331

1912
1900
1912

7.517

1911

(Irand Trunk R ailw ay— (C o n c l u d e d )—
Pontlao Oxford & Nor 1st M 5400,000-.

10 0

Five-year secured notes £2,500,000 red 101------ c
T w o-year secured notes call con vertible------------- 11
New England Elcv 1st M g gu due 510,000 yearly-

___
___

d o Sor B gold due $168,000 s-a red 102>S Bi
Car trusts--------------------- ------------------------- - - - - - - ­
do Ser C due s-a $113 M 5 yrs then $112 M .
red 102V4...........................- ................. - — - Eq ;
Q r n n d T ru n k W est— 1st M Ing gu $
Gen consol M auth $30,000,000 guar
Great Northern— Stock $250,000,000-

s

O ld U n d e r l y i n g D i v i s i o n a l B o n d s —

2,541 1883
2,541 18&3
t 2,541 1883
r
420 1887
r
849 1890
*
1901
1901
registered------ zr' •
*
2 1882
.
2 1882
r
284 1898
r
250 1887
r
304 1888
*
130 1889

do
1 st n
do

Great Southern RR — 1 st M 55,000.000 g o ld -.
Green Bay & Western R R — Stock (see text).

X

_

•
Class B Incomes after 5% on stock non -cum .zc**

___
___
___
___

fr o m

e a r n in g s

1 ,000
10 0
1,0 0 0
1.0 0 0

o f each year since
» • '15.

R E P O R T .— R eport for cal. year 1915 was In V . 102, p. 1711. Results in
1915 1914 and 1913 include Canada Atlantic R y ., amalgamated Jan. 1914.
’
1915.
1914.
1913.
1912.
M iles
.............................
4,015
4,015
4,012
3,545
Gross earnings.................. £8,292,688
£8,596,768 £9,620,176 £8,447,087
Transportation expenses. 6,511,257
6,841,919
7,261,810
6,127,968
N et earnings__________ £1,781,431 £1,754,849 £2,358,366 £2,319,119
T otal not incom e________ £2,540,701 £2,437,593 £2,665,599 £2,535,112
155,206
155,206
Rentals_________
155,206
155,206
1,429,905
1,193,048
Int. on bd s.,d ob. stk.,& c_ 1,730,192
1,592,034
104,366
221,414
A d v. to controlled roads.
144,620
265,237
(4 )
496,823
(4 )
DIvs. on guar, stock ____(4)500,000 (3 M )4 3 7,500
(5 ) 170,841 (5 ) 170,841
Do
1st pref. s to c k —
--------------—
(5)126,420 (5)126,420
Do
2d pref. s tock —
--------------—
(2_________
H )1 7 9 ,1 1 6 (2 ^ )1 7 9 ,116
Do
3d prof,stock —
--------------—

D e d u ct—

B alanco.........................su r.£ l0 ,6 8 4 def.£12,384 su r.£3,922 s u r .£5,955
O F F IC E R S .— l ’res., E . J. Chamberlain; Chairman o f Board, Alfred W .
Smlthers.— (V . 101, p. 288, 1189. 1272. 1627; V. 102, p. 6 6 , 800, 975, 1540,
1711, 1806, 1811, 1987, 2166.)
G R A N D T R U N K W ESTE RN R Y .— Owns from Port H uron, M ich .,
to C hic. & W est. Ind. R R .. at C hicago, 330 m .; leases C hic. Kalamazoo &
Saginaw, 9.57 m .; C hic. & Kalamazoo Term inal, 1.73 m .; trackage C hic. &
W est. Ind., 5 in.; total, 347 m . Stock, $6,000,000, all owned by Grand
T runk. V . f>9, p . 654; V . 71. p . 22. Allied line, Pont. O x. & N o r., 100 m.
B ON DS.— The Grand Trunk unconditionally guarantees the Interest on
the 1st 4s. The Incomes were called for paym ent on Deo. 1 1910 at 85 and
any lnt. then due. V. 90. p. 1239. Jointly with Toledo St. Louis &, W est,
guarantees Det. A Toledo Shore Line bonds. V.7t>, p. 653: V. 89, p. 1411.
In March 1911 authority was granted to make a new m tge. for $30,000,000.
to extend and im prove the road: $7,662,000 4s. due Sept. 1 1962, were pur­
chased by the Grand Trunk R y. The latter guarantees principal and inter­
est; $ 1 5 ,000,000 to be held to retire the firsts at m aturity. V . 92, p . 795.
1108. 1242, 1436: V . 93, p. 1323: V . 97, p. 237.
Year ending June 30 1914. gross $7,184,559; net, after taxes, $690,673;
other incom e, $696,385; charges, $1,941,461; deficit, $554,402; additions
and betterments charged to incom e. $H14; p rofit and loss, $6,325; bal.. d e f.,
$547,263. Year 1914-15. gross, $7,238,464; net, after taxes. $789,188.—
(V . 93, p. 1323; V. 96, p. 1700: V. 97. p. 175, 237.)
E A R N IN G S .— 10 inos., f 1915-16------Gross, 7,179,831; net, 2,145,968
482,017
July 1 to A pr. 30.
11914-15------ Gross, 5.960.705; not,
G R E A T I N O K itltK N K * •— voce
a line iroin an.
Paul and D uluth, M inn ., via Spokane. W ash., to Seattle. W ash., and V an­
cou ver. B . C ., with trackage rights Into Portland, O re., and numerous
branches in M innesota, Iowa, North and South D akota, M ontana, Idaho.
W ashington, M anitoba and British C ol. T otal June 30 1915, 8.102. viz.:
L in e s ow n ed in fe e .

M ile s .

8 t. Paul to St. Vincent, M in n .. 393 Barnesville, M in n ., to Portage
la Prairie, M a n --------------------- 258
M inneapolis to Seattle, W ash-.1 ,8 3 2
E verett, W ash., to V ancouver. 128 St. C loud to Sioux C i t y ............ 280
Fargo to Surrey. N . D ................ 226
C oon Creek, M inn ., to Su­
perior, WIs__________________
134 Grt. F a ils,M on t.toG rt.N or. Jet. 223
Various branches......................... .3 .6 5 7
A llouez. W Is., to Dovlls Lake.
N . D ...................
381 T r a c k a g e ------ -------------------------- 299
Pacific
liutr.e..
P
acific Jet.. M on t., to B
u t te .. 291 (2 nd. & c.. tracks and sidings. 2.383
Owns Jointly with Northern Pacific the Spokane Portland & Seattle R y .
556 miles,
v . 85,
an, p. 1273;
1 2 / j ; V.
v . 8 6 . p. 1529.
, ^ XT
„
miles. V.
T
In Dec. 1908 Chic. Burl. & Quincy (Jointly held with N or. Pac.) acquired
control of C olo. & Southern. V. 87. p. 1664. Uses Jointly Northern
Pacific line, Seattle to Vancouver, W ash., 174 miles. V . 8 8 , p.1372.
.
in Dec. 1909 a Joint control was acquired o f Spokane & Inland Empire
(E lectric) R R .. 213 m. See “ Electric R y ." Section.
M idland R y . o f M aidtoba Is held In the joint interest o f the com pany and
the Northern Pacific R y . V . 95, p . 236.
O R G A N IZ A T IO N .— In 1907-08 absorbed St. Paul Minn. & Man. ana
other
roads tn
theretofore
controlled
V.
85, p. ouu,
600, 1209:
p. 168, 794
nner roans
ereioioic uuuuuhci
v . o.j,
i*u». V.
* •8 6 . .................
..
‘-er'Mr'K
_IIn
WOW
aum-Anrl
av-aA Ihp the
rlfrht
tr, Iuuha
rnmmnn
all stock
STO
C K .—
1898
surrendered
right
to Issue
com mstock
on stock,
all stock
being “ of a single class with uniform rights.” V .8 3 . p. 1469; V .8 4 , p .7 4 9 .
D IV ID E N D S .1’92 t o ’96 (Inol.) ’9 7 . ’98. ’99. ’00. 1901 to M a y ’ 16.
Per ce n t......................J 5% yearly
5 ) i tiK 7
7
7% yearly. Q-F
Also In 1898 50% In Seattle & M on t, stock, which was then exchanged
at 80 I n paym ent o f 40% o f subscription to additional G t. N or. pref. V . 66,
p. 1044. 1188: V. 74. p. 829. In M ay 1901. A % and in N ov. 1907 l k %
was paid from earns, o f Lake Superior C o ., Ltd ., and In D ec. 1906 unit for.
unit. 1 .500.000 shares In Iron ore properties. See “ General Finances. '
B O N D S . - O f tho " 1 st & ref.” 50-year bonds ($600,000,000 a u th .), $72.­
271,000 had been Issued as 4 X % bonds to June 30 1915, o f which $35,000,-




&
M &
5 g
&
3 «d
4
4H
4>* g M &
P &
5X
4M

13,344,000
6 g
21.098,000
4 « g
8,239 000
4 g
alO, 185,000
4 g
£5,892,100
4 g
\$ 107613500 /
4 g
/
1 4 g
2,150.000
6 g
650,000
5 g
d9.695,000
4 g
1 0 ,000,000 5 & 6 e
3.625.000
5 g
6
229.000

M &

J
O
15
J
N
J
O
N
N
A

Ju y 1 1916
Oct 1 1918
Jan 14 1918
July 1 1920
N o v 1 1917
July 1916-1941
A pr 1 1936
T o M a y 1922
T o N o v 1922
.............................

Bankers Trust Co, N Y

N ew Y o rk and M ontreal
UnSD&TrCo, P orted,M e
Montreal or L ondon
N ew Y ork
do
Chase N at Bank & Chic

N T o N o v 1923

& J
& J
& J
& D
& J
& J
Q— J
& J
& J
tc
O
&
J
&
D
&
J

do
do
do
do
do
do
do
do
N Y & L ond, Baring Broe
J P Morgan & Co. N Y
do
do
32 Nassau St, New York
do
do
32 N assau N Y ;L ee,H ,B ot
32 Nassau St, New York
do
do
do
do

Sec Sav & T r Co. P ort.O r
J
& J July 1 1928
See text
5 g
Feb
Feb 7 1916 5% O ffice 40 Wall St. N Y
2.500.000 5 Feb ’ 16
Feb 7 1916 5%
do
do
Feb
600,000 5 Feb ’ 16
Feb
Feb 7 1916 %
do
do
7.000.000 ^ F e b ’ 16

d Subject to call at 1 05 after

4
4
4
4
4
4
4
4
4
4
31^4
Guar stock ____ %
5
5
5
5
5
5
5
5
5
0
0
1 st p rof_________ % A
5
2
^
5
5
5
5
5
0
0
5
5
5
2 d pref_________ %
M W 2H 2K 0
0
0
0
2
3
3d pref_________ % 0
No* navments’ on pref. for 1914 or 1916. Dividend on gu."stock reduced
from 2 % to \ ' A % in April and O ct. 1915: A pril, 1916, 2 A , making 4 % for
year 1915. V . 100. p. 642; V . 102, p. 800.
E A R N I N G S — 4 m os., 11916.............Gross, $13,568,044;net. $3,229,895
Jan. 1 to A pr. 30.
\1915_______ Gross, 11,725,345; not, 2,631,315

M ile s .

6 g
5
5 A
5 X

L a s t D iv id e n d
a n d M a tu rity

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
A pr 1 1948
July 1 1937
June 1 1938
July 1 1939

Ottawa Term s. R y s ., V . 95, p. 1207.

1003 »oing the

W h en
P a y a b le

1,0 0 0
1.0 0 0
1,0 0 0
1,0 0 0
£ 1 0 0 &c
Sl.OOO&o
1,0 0 0 &c
1,0 0 0
1,0 0 0
1,0 0 0 & o
1,0 0 0 &.c
1,0 0 0
1,0 0 0

Montreal W arehousing guaranteed

D I V ID E N D S .— Total percentage paid

%

T o D ec 1922
Bank M on treal,N Y & L on
July 1 1950
do
do
Sept 1 1962
M a y 1 1916 1 H 32 Nassau St, New York
do
do
July 1 1961

b o n d s V. 83, p . 37. Grand Trunk Pacific Devol. C o .. V. 90, p . 306; V. 91.
D 1449- V ? 9 2 , p 1238; V. 93. p . 1107. Toron to Term . R y ., V . 95. p. 1474;

V . 98, p . 1768; V. 101, p. 1272.

R a te

J & D
2 10 ,0 0 0
6 g
J & J
$& £
15,000.000
4 g
M & S
11,541.000
4 g
10 0 249.476,850 7 In 1915 Q— F
& J
1.0 0 0 <tc 35,495.000
4K B J

1908
____
1896
1896

a 511,502,000 additional pledged for Pacific Extenss on b o nds
Station Co. bonds. V . 82. p. 452.

A m oun t
O u tsta n d in g

D a te
B onds

M iles
R oad

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., s e e n o tes on f ir s t p a g e]

L in e s o w n ed in f e e .

57

RAILWAY STOCKS AND BONDS

J une, 1910. |

April

19 28

000 sold and $37,271,000 held In treasury. These bonds (in hands o f public)
are a first lien, directly or through deposit o f stock, on 2,736.34 miles o f road
at $12,791 per m ., and a general lien (subject to existing liens o f $22,671
per m .) on 4,781.14 miles; total mileage covered. 7.517.48; also secured by
equipment at the tim e o f the mortgage costing $59,073,180. upon $46,200.­
068 o f which it is a first lien. V . 92, p. 1499; V . 93. p. 871; V . 98. p . 698.
P r o v i s i o n s R e s p e c t i n g I s s u a n c e o f t h e $600,000,000 B o n d s A u t h o r i z e d .
Sold for pres, purposes, $35,000,000: held In treas.,$l0,000,000-$45,000.000
Reserved to retire existing obligations. Including the $222,400.­
000 auth. Issue of Northern Pacific-Great Northern Joint 4s,
due 1921, o f which $7,173,000 have not yet been Issued (no
additional bonds, not provided for In the m ortgage, are to be
Issued or underlying bonds extended)_______________________ 332,062,000
Reserved for general corporate purposes, acquisition of new
lines, & c., and purchase of stocks and bonds of other c o s ------ 122,938,000
Reserved for the acquisition and construction of new lines, ter­
minals, &o., at not exceeding $3,000,000 In any cal. year— 100.000,000
T he $37 ,271.000 o f above Issue held In the treasury includes: $15,271,000
Issued for acquisition o f stocks o f other co s., $12,000,000 for acquisition and
construction o f new lines, & c., and $10,000,000 o f original $45,000,000.
8t. Paul M inn . & M an. c o n s o l , m t g e . o f 1883, for $50,000,000, Is now a
first lien on both land grant and 2,540.63 miles o f road and a second lien on
2.47 m . o f double track form erly Minneapolis Union R y. V. 91. p. 518: V .64
p. 518 ;V. 86. p. 229: V . 87. p. 1533; V . 88. p . 295. 624. 1061. 1372.
M o n t a n a E x t e n s i o n m tge. is limited to $21,687,000 on 837 miles In State
o f M ontana: $10,185,000 are in hands o f the public and $11,502,000 with
trustee o f Pacific ext. m tge. to secure to that m tge. first lien on tracks
P acific Jet. to Idaho State line. 417 miles.
P a c i f i c E x t e n s i o n m tge., £6.000,000, at £6.000 per mile In M ontana and
£7,000 per mile west o f M on tana. V . 6 6 . p. 1044. 1188: V , 80. p . 1111.
483,112
1174; V. 90. P. 303. See a b s tr a c t o f m tge.. V . 52 p. 82.
On Juno 30 1915 G t. N or. and N or. Pac. had acquired $107.613.500 o f the
$110,839,100 Chicago Burl. & Quincy R R . stock, In exchange for their
Joint 20-year 4 % gold bonds, secured by the deposit of the stock In trust,
on basis of $200 In bonds for each $100 stock. See circular, V . 72, p. 871,
1034. 1135. and application to list, V. 73. p. 294. 903: V. 85. p. 600
E a s t e r n R y . o f M i n n e s o t a . — Nor. Dlv. mtge. of 1898 limited to $9,700,000,
are red. at 105 after April 1 1928. V. 6 6 , p. 471: V . 8 8 , p. 1002, 1253.
G E N E R A L F IN A N C E S .— T otal funded d ebt In hands o f public June 30
1915, $143,391,909. Per mile o f road (7,822.87 m .). bonds, $18,329.83:
stock. $31,890.69. Train load. 1914-15, 650 tons; 1913-14. 663 tons.
See Great Northern Iron Ore Properties under "In d u stria ls.’
E A R N IN G S .— 10 m os., 11915-16.--G r o ss , $67,182,143; n et,$27,764,562
\1914-15-..G r o s s , 57,137,947; net, 22,966,348
July 1 to A pr. 30.
R E P O R T .— For 1914-15. V . 101. p. 1266. 1363. E ditorial, p. 1098.
1914-15.
1913-14.
1912-13.
.........
....................„
........... .........................
8,061
7.781
7,686
Average
miles operated.
Passenger earnings___________________ $13,164,857 $15,224,463 $15,158,588
Freight ..................................................... 47,147,314
55,084,925 58,426.236
M ail, express, & c..................................... 5,635,800
5,484,271
4,749.898
Other than transportation__________
1,214,887
1,061,279
358,045
Gross operating revenues___________ $67,162,858 $76,854,938 $78,692,767
Gross corporate incom e_______________$28,015,114 $27,776,452 $31,884,417
$860,510
8772.043
$849,078
Rentals paid________________________
10,869
85.655
Hire o f equipment balance, & c______
100,262
6,451,521
6,458,506
Bond interest accrued_______________ 6,447,504
Dividends on stock ( 7 % )____________ 16,796,857 15.063.048 14.698.659
209,320
572,600
Interest on now stock subscriptions..
193,319
256,332
128,166
Renowal Allouez Bay ore d ock s-------256,332
750.000
250,000
Refunds M innesoata R ate Case----------------250.000
Depreciation o f steamships--------------Miscellaneous appropriations-----------275,000
1,000.000
4.250,000
Im provem ent and renewal fund_____
1,000,000
Balance, surplus................................. $2,096,762
$3,311,572 $4,282,168
Comparisons with 1912-13 figures are slightly inaccurate.
O F F IC E R S .— Chairman & Pres.. L. W . H ill. St. Paul; V .-P s., Richard
A. Jackson, \V. P. K en ney, J. M . Gruber, 8 t. Paul; V .-P . & Asst. S e c., E . T .
N ichols, N . Y .; C o m p ., G . R . M artin: Treas. & S ec., L . E . Katzenbach, St.
Paul; Asst. Sec. & A sst. T reas.. N . Terhune, N . Y . N . Y . office, 32
Nassau St.
D irectors.— L . W . H ill, W . B. Dean, R . A . Jackson, L. E . Katzenbach,
R. B udd, St. Paul; A . L. Ordean. Duluth; 1*. L. Ilow e, M inneapolis; E . T .
N ichols, N . Y .— (V . 101, P 1363. 1375.)
G R E A T S O U T H E R N R R .— Owns from T he Dalles to D u fur, O re.’
41.77 m . Extension to Friend. 11 m .. almost com pleted Sept. 1913.
Incorp. In Oregon June 2 1908. Stock, $100,000: par. $100. Bonds (Se­
curity Sav. & T r. C o ., Portland, Ore., trustee), $5,000,000 auth. issue;
$406,000 issued on 30 miles and $184,000 to July 1913 on account 11 miles
under construction; see table above. Year ending June 30 1914, gross.
$45,630; not, $5,401; other inc., $313; Int., taxes, & c.. $36,259; bal., d ef.,
$30,545. Pres., (deceased); V .-P .. J. L . M eier; Sec., G eo. W . Joseph, and
Treas. & G en. M g r., J. G . Ileim rlch
O ffice. T he Dalles, Ore.
GREEN B AY & WESTERN R R .— R oad owned from Green B ay, W Is.,
to Marshland. W Is., 209 miles, branches. 13 m .; trackage to W inona, 4 m .
T he option o f M inneapolis & St. Louis interests on a m ajority o f the stock
was allowed to lapse in M ar. 1913. V . 95, p . 1207; V . 96, p. 947.
S E C U R IT IE S .— There are no fixed charges on the property other than
taxes, nor can any be placed thereon or .the property be sold or leased
without consent of 75% of stock. Class A debentures are entitled to 2 H %
interest. If earned, then com m on stock to 2 H % , then the two share ratai.ly
but after 5% on both, class B Is entitled to all surplus earns. V . 61, p. 471
L A T E D IV S . '0 2 -’04. ’05--’07. ’08. '09. TO. ’ l l . T 2 . T 3 . T 4 . T 5 . T 6 .
5
5
5
5
5
5
5
5
Class " A " d e b s .. 4 y 'ly 5 y ’ly 5
5
5
5
5
5
5
5
5
Capltal stock ___
4 y ’ly 5 y ’ly 5
%
Class “ B " d e b s .. — ____ . . . —
X
%
X
X
i y*. %
X
kl

Moose j a,

REGINA;

iOak Point
Glmli,

Wolseley

Pasqua

WINNIPEG

wl
ac
M A P

O F

T H E

Milestone'

GREAT NORTHERN RAILWAY

•Eagle Elver
Weyburn
Stoughton
Wood Mountain

^V^Surprise Valley

iR u u ^ ^

:a

k e

Estevai

(E A S T E R N

S E C T IO N )

----------^ 2 ^
_ fla a a c :

' eT;
p

t

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Grand Falls

PlazaoJ*

^Uro»»

teech Lakeffj
/ Walker!^
r

$ £ /

%

^monagonv

Linton

■ ^V)»'C
^ S V0
P\ s^

Edgelej

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Lemmon
McLaughlin'
Crow Agency

o\

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[ILLMAR

Aberdeen

Fraunle
iKane

JtonnftllT

iMobridge

IsabeL
Broadus

Ionia

Pollock

< S £ tock h o&
FaulktouV'
_ DiW-atertov
Kedtieldl
Grover
Vienna^
>w Lakes^f
\Yale^^.l

Clearmont

Buffalo

:ndwood_-^
\ Piedmont

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PIERRJ

Midland

Newcastle

KeystoneQ'

Thermopolia
Minnek:

Minnesela

He t Springs

Interior

Edgemoni'

.Bosebnd

Powder/Sher’

Dakota Jc.

,Platte

Lenuqs

A __Valentine

.Crawford

Lander-

Wendover'

Pacific




Mitchell, ?. GARRETSON.
Food
du Lacj
t^Th^V-Corkob^
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FUiuviei

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Laramie
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Coluntbu!

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Kennedy

yCauiei

^adjsmith

.Saund
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Tomahawk

'Faribault
rRus&ell
rFlorehce----- -Owatonna
O^Uolland
MyFipestone
^faspe?^^.
Heron/Lake alwiunebagorCity
Albert LeaTtr'Worthington
\ & o n / SibIey
-^i'erkins-------£
ZB Sioux Center
fgtruble
derril/
OUX CITY

^reen Bap

.... ^sO^East Winona
»»iuonaA^v.
>- "
Onalaska
La C r e s c e n t ^ f f ^

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1
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Glenullen Mandai

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New England

>

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new

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o
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Wood Mountain

qu Elko

\
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s e a t /t l e ;

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GREAT NORTHERN RAILWAY
(W E S T E R N

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Lander




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[Guerns iy

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fission

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Beach

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/
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60

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., se e n o te s o n f i r s t p a g e ]

Miles Date
Road Bonds

Q reone R R (N ew Y o r k )— S t o o k .g u a r _________________
G r e e n v il l e & W e s t e r n R R — 1st M $ 4 0 0 ,0 0 0 ________
23
G reen w ich & J o h n so n v ille — 1st JVI § 5 0 0 ,0 0 0 g .G .z o A r
21
G ro v e to n L ufkin & N orthern R y — 1st M g o l d __________
21
___
G u a n ta n a m o & W estern — 1st Si § 6 0 0 ,0 0 0 g o l d .C o l .x
G ulf Fla & A la— 1st M 5 1 0 .0 0 0 .0 0 0 g re d lO S C o l.x o * Ar
160
G u l f L in e — S ee ila w k in s v llle & F lo rid a S o u th e rn R y
G ulf & Sabine R iv e r — 1st M § 3 0 0 ,0 0 0 g o l d _________ x
37
G ulf St Ship Is la n d — S t o c k --------------------------------------------F irst refu n d an d term M g o ld sink f u n d .N .x o ’ x A r*
307
G en A rel M g o ld , §2 0 0 ,0 0 0 d u e y r ly red 1 0 3 -M p x c *
307
O ulf T e r m , A lobile— 1st M § 7 0 0 ,0 0 0 g gu (te x t) x c * A r*
G ulf T e x a s & W e s t— 1st M § 1 0 .0 0 0 .0 0 0 g r e d l 0 5 . M p x
99
H a lifa x & E a s tern — F irst m o r tg a g e r e d ________
--H a m p d e n R R — First m o r tg a g e see t e x t _______
H a n c o c k St C a lu m et— S ee M in eral R a n g e R R
H an n ibal St St J o s e p h — See C h ica g o B u rlin g to n & Qul noy
H arrim an & N orth ea stern — F irst m o rtg a g e g o l d - .C e z
20
C a r trusts d u o sem i-a n n u a lly ___________________
H a rris b u rg P o r ts m o u th Alt J o y & Lane— S to c k 7 % gu
53
First m ortg a g e $ 7 0 0 ,0 0 0 , e x te n d e d In 1913 . . G p k x
124
H a r tfo r d & C o n n e c tic u t W e s te rn — S t o c k ________
F irst m o rtg a g e e x te n d e d In g o ld In 1 90 3___________ z
124
H a w k in s v & FI So— 1st M § 4 0 0 ,0 0 0 g o ld gu ar p & 1-x
44
H en d erson B ridge C o— S ee L o u is v ille A N a sh ville R R
H ibern ia M ine R R — S t o c k _____________________________
4X
___
H o ck in g V alley R y — S t o c k ____________________________
C olu m b u s & H o c k in g V a lle y first m tg e g o ld e x t.x o
76
Col A T o l 1st M g o ld e x t 1905 (V 8 1 p 2 1 1 ) - - G . x o
118
F irst c o n s o lid a te d m o r tg a g e §20,O0O,0OO g o ld ._ C e x
346
___
T w o -y e a r g o ld n o te s call a t 101 (V 101, p 1 1 8 9 )E q y
___
E q u ip n otes g o ld Ser A d u e § 2 3 ,0 0 0 s -a _______ U sm x
do
do
Ser B d u e § 4 8 ,0 0 0 s -a ___________ x
do
do
Ser C d u e §3 7 ,0 0 0 s -a ___________ x
do
do
___
Ser E d u e § 2 5 ,0 0 0 s -a ___________ x
do
do
___
d o d u o $ 1 1 0 ,0 0 0 a n n u a lly __x
do
do
E q g Ser I d u o $ 2 5 ,0 0 0 s - a ._ G .x c *
___
___
do
do
Sor o f 1913 d u e $ 1 0 0 ,0 0 0 a n n ____ x
do
do
S er o f 1914 d u e $ 8 0 ,0 0 0 a n n .

1914
1904
1909
1909
1911
1908
1902
1911
1907
1909
1905

1895
1913
1883
1902

1867
1875
1899
1915
1907
1907
1907
1907
1907
1908
1913
1914

Par
Value
$100
1.000
1,000
500 Ac

Y ea r.

G ross
E a rn s.

N e t a fte r
D iv .o n
T a xes.
D eb. “ A ."

D iv id e n d
o n S to c k .

D ie . on
D eb.

Rate

$200,000
460.000
400,000
437,000
600.000
2,800,000

1,000
300,000
100
7,000,000
1,000 Ac
5,000.000
1,000
200.000
1,000
600,000
1,000
2,000,000
£100 N oneSep’ 14

100 Ao
50
500 &c
100
1,000
1,000

300,000
151.50(1
1,182,550 7 X
700,000
2,967.000
700,000
606.000

%
6
6
4
5
6
5

J

g
g
g
g

5 g
5
6
4
5
5

When
Payable

g
g
g
g
g

6 g

Last Dividend
and Maturity

O L & W , 90 W est St
Cent B k& Tr C o , Atlanta
Guaranty Trust Co, N Y
111 T r A Sav Bk or o ff. Ch
Colum bia Trust C o , N Y
C olum bia Trust C o , N Y

M A S15 Sept 15 1928
Q -J
J u lylS 1913 1%
J
&
J Feb 1 1952
A & O T o April 1917
J
A ,T Jan 1 1957
M A N N ov 11939
J A D 30 1955
30 years

Treas office, St L . Mo
Buffalo, N Y
Metropolitan Tr Co, N Y
do
do
Franklin Trust Co, N Y
M etropolitan Tr Co, N Y

J

A
&

B a l.,
S urp.

1915......... $780,423 $207,533 (5)$30,000 (5)$125,000 (X )$ 4 3 ,7 5 0 $8,783
(5)30,000 (5 125,000
( X 52,500 3,669
1914.......... 776,330 211,169
D IR E C T O R S .— J. A . Jordan, Pres.; Edgar Palmer, V .-P res.; Charles W .
C o x ., Sec. & Treas., 40 Wall S t., O. Ledyard Blair, J. A . Jordan. Henry R .
T a ylor, W . J. W ilson.— (V . 100, p . 397, 1168, 1250; V. 102, p. 437, 1259,
1806.)

P la c e s W h e r e In te r e s t a n d
D iv id en d s a re P a y a b le

D Junel9 1916 3 %
J July 1 1934
J Jan 1 1924
J
J Jan 1 1939
M & N 15 N ov 15 1929
J A J July 1 1961
J
,T

A
A

A

J

Central Trust Co, N Y

ln’ 15 J A ,TJan 10 ’ 16. 3 X Com pany’ s offloe, Phlla
J
J July 1 1943
Sc
4
2
F & A 31 Feb 31 1916 1% H artford
do
4X J
A J July 1 1923
Union S B A T r Co, Cln
5 g A A O Apr 1 1952

100
200,000
A & O A pr 1 0 ’ 16 I X
3
100 811.000,000 3 in 1915 U-M
Jne 30 ’ 16 2%
500 Ac
1.401,000
A A O Oct 1 1948
4 g
1,000
2,441.000
4 ?
F A A Aug l 1955
1,000 Ac 16,025.000
4 X 8 J A J July 1 1999
1.000
4,000,000
M A N N ov 1 1917
5 g
1,000
46,00(1
4
F A A T o Feb 1 1917
1,000
96,000
4
F & A 15 T o Feb 15 1917
1,000
74,000
4
A A O T o Apr 1 1917
1.000
F A A T o Aug 1 1917
75.000
4
1,000
220,000
J & J T o July 15 1917
5
1,000
4 g
100.000
F A A 15 T o Feb 15 1918
1.000
F & A T o Aug 1 1923
800,000
5
1,000
F Sc A T o Feb 1 1924
640,000
4X

E A R N IN G S .— 10 m os., f 191.5-16...........G ross, $685,333; not, S196.729
July 1 to A pr. 30.
\ 1914-15..........Gross, 652,134; not, 184,808
R E P O R T for year ending D ec. 31 1915 In V . 102, p . 1806.
Cal.

Amount
Outstanding

[Vol. 102

See Central of New Jersey
J P Morgan A Co, N Y
do
do
do
do
do
.
do
71 B roadw ay, N Y
U S M & Tr Co, N Y
71 B roadw ay. N Y
Merch L & Tr Co, Chlo
Empire Trust Co. N Y
.1 P M organ & Co
Guaranty Trust Co, N V
(Com m ercial T r O o.P hll,
\ and 71 B w ay. N Y

Stock auth., $500,000; outst’g July 1914, $250,000; par o f shares, $100.
Of the first 5s (§10,000,000 auth. Issue), §2,000,000 have been Issued on the
first 99 miles. V . 89, p. 993.1223; V . 90, p . 109; V . 93. p . 44; V. 99, p . 406.
Loans and bills payable A pr. 30 1916, $553,404; car trusts, $1,011. T on
months ending A pr. 30 1916, (130 aver, m iles), gross, $147,677; opor. d e f.,
$36,406; bal., d e f., $131,004. Pros., J. J. Jerm yn, Scranton, P a.; Sec. &
T reas., W . Frank K n ox, Dallas, T e x .— (V . 99, p . 406.)

HAM PDEN R R . C O R P O R A T IO N .— Owns Springfield to B ondsvllle.
M ass., 14.82 miles; com pleted, but in Jan. 1915 not yet operated. Stock
auth.. $1,400,000. T he time to construct the road to H olyoke and C hico­
pee Falls has been extended to July 1 1918. V .100, p. 1509. Bonds
authorized by the Massachusetts Railroad Com m ission, but not issued,
GREENE R R .— Owns road from Chenango Forks to Greene, N. Y ., 8 $1,900,000.
N otes, about $2,000,000 6s, were
extended one year
miles. Leased to Delaware Lack. A Western for term of charter for 6 % on to July 1 1915. V . 99, p. 537. On July 2 1914 suit was filed against
•took. Stock, §200,000: par, §100.
B . & M . to enforce alleged “ contract liability” amounting to $4,000,000,
G R E E N V IL L E & W E S T E R N R R .— Owns Greenville, S. G ., to R iver- the approxim ate cast o f road. Under the A ct passed Juno 1915 by the
view , 23 miles. V . 99. p. 406. Late in 1915 E . M . M orsund was made M ass. Legislature, the B . & M . Is authorized to purchase the road subject
receiver. Stock, $50,000; par, $100. B onds, $460,000 1st 20-year 6s to approval o f the R R . Comm ission. V. 98. p. 1920; V. 99, p. 48, 748; V.
(Central Bank & T r. C orp ., Atlanta, trustee), see table above. Pres., 100, p . 397.— (V . 99. p. 48. 537. 748, 1673; V. 100. p . 397, 1509.)
R . A . M cT y er; T reas., Carl H . Lewis, ail o f A tlanta, G a.— (V . 101, p.2144.)
H ARRIM AN & NORTHEASTERN R R .— Harriman to Petros. T en n ., 20
miles. In N o v . 1902 entire (§600,000) stock acquired In Interest of Cine.
GREENW ICH & JOHNSONVILLE R Y .— Owns from Sohuylervllle, N .Y .; New Orleans A T ex. Pao. R y ., but Is operated separately. V. 76, p. 157.
to Johnsonville, N. Y ., 21 m . Stock, 5225,000, all owned by Del. & H ud­
D IV ID E N D S .— In 1907. 4 % ; 1908. 2 W % : 1909, 2 % . Year to Juno 30
son Co. V . 90, p. 790. Bonds, see table above. For year ending June 30
1914, gross, $119,989; net, $61,549; charges, $44,434: b a l., sur.. $17,115. 1914, gross, $106,796; net, $45,981; other Income. $2,078: in t., taxes, A c .,
$47,773;
b al., sur., $287.— (V . 76. p. 212.)
F or year ending June 30 1915, gross. $115,221; net, $60,550. Pres., I . C .
B landy, Greenwich, N . Y .— (V . 86, p . 1224.)
H A R R IS B U R O P O R T S M O U T H M T. J O Y & L A N C A S T E R R R .—
Owns Harrisburg, P a ., to Dillervllle Jet., 34-48 miles; C olum bia Branch to
GROVETON LU FKIN & NORTHERN R Y .— Owns Veitch to Valr, T e x ., Columbia Station, 18.09 m .; total, 52.57 milos. Leased to Pennsylvania
21.15 miles; trackage, Groveton to Veitch, 1.25 m .. and Valr to Lufkin. R It. for 999 years from Jan. 1 1861, rental covering int. on bonds and 7 %
T e x ., 13.6 m .; total, 36 miles. Stock §50.000; par, §100.
Bonds, on stock. V . 98. p . 453. 523.
§437,000; see table above (V . 90, p. 109). For year ending June 30 1914,
H ARTFORD St CONNECTICUT WESTERN R Y .— H artford. Conn., to
gross, $72,580; net, $19,305; charges, $39,370; b al., d e f. $20,065. Pres.,
RhlneclifT, N. Y ., 110 miles, and branch, 14 miles. Leased till A u g. 1940
J. S. J oyce, C hicago. O ffice. G roveton. T e x .— (V . 90. p. 109.)
to Central New England R y . (now controlled b y New York Now H aven &
GUANTANAMO & W ESTERN R R .— Owns from B oqueron at Granadillo H artford R I t.), the rental paying charges and 2% on stock.— (V .83.P .1290.)
Bay on south coast of Cuba, via San Justo and La Maya to San Luis, with
H A W A IIA N C O N S O L ID A T E D R Y ., L T D .— Owns Paauilio to Puna,
branches to various sugar mills; total mileage, 82.78 miles. Incorporated
T . H ., 57 miles; Olaa M ill to G lenw ood, 17 m .; branches, 7 m .; total, 81
In M aine. A reorganization after foreclosure M arch 1 1910 per plan V . 88.
miles. Successor in April 1916 o f Hilo ItR ., sold undor foreclosure and re­
p .2 9 4 . Controlled b y syndicate. V . 93, p .1 7 2 5 .
Stock authorized and Issued, com m on, §2,750.000; 1st pref. 7% non-cum .. organized, per plan in V. 101, p. 1713, 2071, with authorized issues not to
$2,750,000. and 2d pref. 5% non-cum ., $250,000; par o f all shares, $100 oxceed the following: (a) $2,500,000 1st M . 5s; (ft) 7 % cum . first pref. stock
(“ A " ) , say, $3,000,000: (c) 6 % non-cum . 2d prof, stock (“ B ” ); ( d ) com m on
each. Equipm ent trust notes July 1915, $130,000; 2-year 6 % redeemable
stock. For year ending June 30 1915, gross, $429,089; not, $228,981;
notes, $429,500; bills payable, $75,032.
bond interest, $269,700; other interest, rents. & c., $63,107; b al., d e f.,
E A R N IN G S .— For year ending June 30 1915, In V . 101, p. 1367, showed $103,826. In 1913-14, gross. $436,405; net, $180,165. P res., B . F. D il­
ross, $465,097; net, $109,681; profit outside operation. $23,642; bal., lingham, H onolulu, T . H .— (V . 101. p. 1628. 1713. 2071.)
133,323; other incom e, $4,348: in t., taxes, & c., $79,875; amortization o f
H A W K IN S V IL L E & FLORIDA SOUTHERN R Y .— W orth to H awklnsdiscount 2-yr. redeem able notes, $35,176: b a l.. sur., $22,620.
vllle, G a ., 44 miles; Ashburn to Cam illa, 52 milos: trackage over Georgia
O F F IC E R S .— M . H . Lewis, Pres.; R obert L. D ean, Sec.; I. M c D .
Sou. & Fla., W orth to Ashburn, 4 miles: total, 100 miles. This includes
G arfield, V .-P . and Treas. N . Y . office. 82 Beaver St.— (V . 97, p . 950, the G ulf Lino R y ., purchased in A ug. 1913. V. 97, p. 175, 365. S tock,
1500; V. 99, p . 1130, 1669: V . 101. p . 1367.)
$100,000, acquired In April 1904 b y Georgia Southern A F lorida, which
guarantees bonds (see table abov e), prln. & Int. V , 97, p. 175, 365. F or
G U A Y A Q U IL & Q U IT O R Y .— See Issue o f A pr. 1911. V . 102. p. 975.
ending June 30 1915, gross, $134,226; not, $20,402; other incom e, $69:
G U L F F L O R ID A & A LA B A M A R Y .— { S e e M a p . ) — Pensacola. Fla., year
to a connection with the So. R y. at K im brough. A la ., 143 m .; Gatosw ood, in t., taxes. A c ., $49,005: b al., d e f., $28,534. Pres., J. B . M unson; T reas.,
W . P. H opper, M acon . G a .— (V . 97. p . 175. 366.)
Jet. to Owen, 15 m .; sidings, 10 m. Goukling branch, 2 X m .; total, 17014 m.
B roughton, A la., to K im brough, 50 milos, hero included, was opened for
HIBERNIA MINE R R .— Owns Rookaway to Hibernia Mines, N. J .,
tra ffic in Dec. 1915. V . 101, p. 614; piers, & c., Pensacola., V . 95, p. 1541; 4 X m „ leased to Cent, of N . J. to O ct. 1930 at §6,000 y ly .— (V .9 1 ,p .l7 6 6 .)
V . 97, p. 1203. Extensions projected to coal and mineral territory o f
HOCKING VALLE Y R Y .— The com pany's main line extends from
N orthern A labam a, V. 93, p. 1259, 163; V . 95. p. 419; V. 97. p. 49, 950.
Rockwell to Colum bus, 119.6 miles; Columbus to Athens, 75.6 m .; OldA uth. stk., §1.500.000 5 % non-cum . pf.; §6,000,000 com .; par. §100.
town to Pom eroy, 80.6 m .; total main line, 275.8 miles, with trackage
(T oledo Term . R R .) T oled o to W albridge, 3.6 m .; (L . S. & M . S. I ty .),
BO N D S.— Of the 1st 5s (§10,000,000 auth. Issue) §7,500,000 are Issuable
for main line and terminals, at not over §20,000 per mile: §500,000 for T oledo to R ockw ell. 2.5 m .; (P . O . O . & St. L . R y .) C olum bus, O ., .5 m .;
terminals, A c.. In Pensacola; §500,000 for bridges over Alabama and total main line and trackage, 282.4 miles. Branches, 45.4 m .; leases W . &
Warrior rivers and §500,000 for extra heavy work In Alabama. The re­ J. B . R y ., Dundas to Jackson and branches, 19.3 in.; Pom eroy B elt R y .,
maining bonds are reserved for Improvements or additions at 90% of cost. Pom eroy, O .. 4 m .; total. 351.1 miles; second track. 53.8 miles. Owns
V 93. p. 163: V. 95. p. 419. O f the bonds, $2,800,000 have been sold. part Interest in T oled o Terminal R R . V. 99, p . 1210.
V . 95. p. 1541; V . 98, p. 610. For year ending June 30 1914, grass. $138,­
H IST O R Y . A c.— Successor Feb. 25 1899, per plan V . 68, p. 231, o f
143; net after taxes, $65,729. Pres., R oy O. M egargel. 35 Pine 8 t., N . Y .; Columbus H ocking Valley & T oledo R y . foreclosed. The coal lands aggre­
S ec., C . W . Byram; Treas.. F. B . Erwin, 35 Pine S t., N . Y .: V .-P . & Gen. gate about 20,975 acres, and are covered b y the consolidated m ortgage,
M g r., G . A . Berry, Pensacola.Fla. O ffice, Pensacola, Fla.— (V . 101. p .614). partly by direct lien and partly by pledged securities.
G U L F M O BILE & N O R T H E R N R R .— Proposed new name o f Now Or­
D IV S .—
/ ’01. ’02-’06. ’07. ’0 8 -1 0 . ’ l l . ’ 12. ’ 13.
'14.
1915.
leans M ob ile & C hicago, which seo below .— V . 101, p. 1370, 2071.
P e rc e n t_________( I X 3 yrly. 3 X
4 yrly. 7 7 X
12
7.
B elow
GULF St SHIP ISLAND R R .— Owns from Gulfport, on Mississippi Sound
On June 28 1913 paid 4 X % extra to make an avg. o f 7 % from Jan. 1910.
Gulf of Mexico, to Jackson, Miss., 161 m • Maxle to Mendenhall. 104.75 In 1915, June 30, 1 % : Dec. 31, 2 % ; Juno 30 1916, 2 % . V. 100. p. 2085.
m .: Saratoga to Laurel, 41.75 miles; total. 308 miles
S T O C K .— Chesapeake & Ohio R y . owns $8,825,900 stock.
D IV ID E N D S .— 1903 to 1910, 4 % yearly; 1911. 4 % ; 1912 Sc 1913, 2 % .
B ON DS.— The consols (§20,000.000 authorized), besides a lien on the
B O N D S .— O f the first 5s outstanding in July 1915, $749,000 bonds were, entire
property, subject only to §3,842,000 prior bonds, have a first lien on
in skg. fd. (bonds not callable). See V. 74, p. 426, and application to list.
the coal lands; §3,842.000 consols are reserved to retire the existing bonds
V .7 4 , p . 1257; V. 8 1 .0 .2 6 4 . O f th ogen . Sc ref. serial 6s o f 1911 ($1,000,000 all
(the
latter
may be extended at m aturity). V. 72, p. 338; V . 74, p. 1038;
auth. issue), $500,000 wero sold to retire the $500,000 6s due April 1911
V. 86, p. 229. Substantially all of the bonds and stock of the Ohio Land
and $500,OOO for construction o f Colum bia branch: $200,000 each were paid
& R y . C o. and tho W ollston & Jackson B elt I ty ., 18 miles, were deposited
in April 1913, 1914, 1915 and 1916. V. 92, p. 460.
under said m ortgage, but seo V . 101. p. 370. V . 68. p .8 2 3 . In D ec. 1914
E A R N IN G S .— 10 m os., / 1915-16___ Gross. $1,037,578; net, $644,870
control o f Sunday Creek C o ., coal properties (soe “ Industrials” ) , was sold
July 1 to A pr. 30.
\1914-15___ Gross,
1,366,980; not, 352,962
to John S. Jones. V . 99. p. 1451; V. 101, p. 448. As to Kanawha &
H ocking Coal & C oke C o. and Continental Coal C o ., s<«? Sunday Creek C o.
Y e a r s e n d . J u n e 30
G ross.
N et.
O th er I n c .
C h a rg es. B a t., S u r .
V. 87, p. 815; V. 88, p. 1135; V. 91, p. 1235. Proceedings to enforce joint
1915-16---------------------$1,633,006 $429,584 $31,488 $340,069 $121,003
1914-15..............^____ 1.996.934
531.097
6,886
349.577
188.406 guaranty o f K . & H. C . & C . bonds wero begun in April 1916. V. 102, p.
1163,2167. N otes, see V . 101, p. 1189; V. 99, p. 1366, 1528. In M a y 1916
P res., J. T . Jones, B uffalo, N . Y .— (V . 101, p . 1189, 1366.)
U. S. C ourt ordered tho com pany to dispose o f Its 2,500 shares o f the Buck­
GULF TE RM IN A L CO., M O BILE .— Owns union passenger station and
eye Coal Sc R y . C o. and 2,006 shares and $1,337,000 in bonds o f the Ohio
approaches at Mobile. A la ., leased by the Southern R y. and Mobile A Ohio
Land & R y. C o. within 3 m onths, tho C ourt to approve tho purchaser.
R R ., which own the stock and guarantee the bonds, join tly and severally
V. 102. p. 2167. V . 101, p. 1370. Loans and bills payable June 1916,
p. A I., by end. Franklin Trust C o., N. Y ., la m tge. trustee.— V . 84. p. 50
$950,000; car trusts outstanding, $2,051,000.
OULF T E X A S A WESTERN R Y .— Seym our to Salesville, T a x .. 99
E A R N IN G S .— For 10 m onths ending April 30.
miles. Has trackage agreement for freight trains to W eatherford, 31 m .,
10 M o n t h s —
G ross.
N et
O th er I n c .
C h a rges.
B a l.,S u r .
and for passenger trains to Mineral Wells, 9 m .. giving entrance via W eath,
1 9 1 5 -1 6 _______ $5,874,973 $1,999,391 $388,608 $1,388,521 $999,478
Mineral Wells & N . W . and Texas & Pacific to Dallas and Fort W orth.
1 9 1 4 -1 5 _______ 5,149,495
1,618,215
154,429
1,375.954
396,690

r




June,

mo




RAILWAY STOCKS AND BONDS

61

62

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r ev ia tio n s, & c ., se e n o tes o n fi r s t p a g e]

M iles
R oad

H o llid a y s b u rg B e d fo rd & C u m b erla n d R R — See P enns yi
Moosac I'unnel & YVHming— 1st M $250,000 g ____OBz
24
Hous Belt & T er— 1st M $5.000.000g red 105 textCexc*
Hous & Brazos Valley— 1st M (trus Hero Tr Co, St L)
*20
Hous E & W Texas— 1st M gu p & I by So P a o.U n .zo*
First m tge $3,000,000 gold not gu aran teed .............z } 191/
Hous & Tex C R R — 1st M I gr g red 110 lnt guCe.zo*& r ' 453
General m ortgage gold Interest guar end.M p.zo*& r
453
W aoo & N W Dlv 1st M g $25,000 p m ___Ce.zo*&r
55
Austin & N W (merged) 1st M g gu p & 1 Mp.zo*<3cr
106
Ft W orth & New Orleans 1st M (W ax to F t W ). _z
41
Cut-ott 1st M $3,000,000 auth (V 94, p 131)............
94
Hudson Companies— Com m on stook $ 5 ,0 00 ,0 0 0 ..
Pref 7 % cum and partlo see text $16,000,000............
Secured notes______________________________________x
H u d so n & M a n h a tta n (H u d s o n R iver T u b e s )—
Com m on stock voting trust certificates___________
Pref stock 6 % non-cum ulatlve votin g tr. c e r ts .___
N ew Y ork & Jersey tlrst m ortgage red H O .G .xo*
First m ortgage co n v e rtib le .______ ________ G.xcLStr
First lien & ref M $65,000,000 g red 105.C exc*& r*
Adjust Inc M $33,574,000 red par cu beg '20 Qxc*&r_
Real estate m ortgages_____________________________
Car trusts $46,000 due seml-ann (V 88, p 6 2 4 ) . . Qz
Car trusts ser B g due $25,000 s-a(V 91,p 1253) az.o*
Car trust ser O due $21,000 s-a (V 92. p 1 0 2 5 ) ..Gz
Huntingdon & Broad Top— Comm on stook_______
• Preferred stook 7 % non-cum ulatlve_____________
First M extended In 1890 (lnt only In g o ld )___GPx
Second M old 7s extended in 1895 p & 1 gold ___GPx
Third M consol extended In gold In 1895.G P.xo*
Cm trusts gold due $33 000 yeM ly(V 84,p 1424) -x

D a te
B onds

Par
V a lu e

vanla RR
1892
1,000
226 .000
1907
1.000
4,718 ,000
1907
100
420 ,000
1893
1.000
2,536 ,000
1893
1,000
464 ,000
1890
1,000
1.420 ,000
1890
1,000
4,161, ,000
1900
1,000
1.105, ,000
1891
1,000
1.920, 000
1885
1 000
709, ,000
1910
1,000
2,383, 000
100
5,000, ,000
100 16,000, 000
1913
1,600 ,000

1902
1907
1913
1913
1909
1910
1911
1854
1857
1865
1907

100 39,994 .890
100
5,242 .151
1,000
6.000 .000
$ . £ or fr
944 .000
100 & c 37,119 .134
500 &c 33.112 ,000 Up
1,115 .500
1,000
276 ,000
1.000
225 .000
1,000
231 ,000
60
1,371 .750
50
2.000 000
600
416 000
600
367. 500
1,000
1,497, 000
1.000
170, 000

A N N U A L R E P O R T ,— Traffio Is m ostly freight, and over 6 8% of this U
bituminous coal. Average revenue train-load Is large— In 1915, 1,035 tons
R eport for year ending June 30 1915 in V . 101. p. 1087.
Y e a r e n d i n g J u n e 30—
1914-15.
1913-14.
1912-13.
Operating revenue.......................................$6,181,153 $7,021,145 $7,817,644
1.996,783 2,217,398
N e t ..........................................
2,833,801
292,891
Other Incom e________________________
448,920
772.478
Gross corporate Incom e.....................$2,289,674 $2,666,318 $3,606,279
Fixed charges, & c.................................... $1,796,272 $1,710,577 $1,689,875
D ividends on com m on ......................... (4% )439 .9 8 0(8 )8 7 9,96 0 (1 U 4 )1 26 4 ,9 4 3
B alance, surplus..................................
$53,422
$75,781
$651,461
O F F IC E R S .— Chairman o f B oard, Frank Trum bull; Pres., G eo. W .
Stevens, C olum bus, O .; S ec., C m I R em ington; T reas.. Jas. Steuart.
M a cK le. New York.
D IR E C T O R S .— Frank Trum bull (C hairm an), F . H . D a vis, O. E . Gra­
ham, H .E . Huntington and Jeremiah M ilban k, N . Y .; G eo. W . Stevens,
R ichm ond. V a.; J. B. Zerbe. Cleveland: F .R . Huntington. S. P . Bush. It.8.
Warner and M . J. Caples, C olum bus, O .; Clarence B rown. F . J. R eynolds.
T o le d o . O .— (V . 101, p. 370, 448. 1087. 1189.1370; V . 102, d . 1163,2166.)
H O O S A C T U N N E L & W IL M IN O T O N R R .— H oosac Tunnel, M a ss.,
to W ilm ington. V t., 24 m iles. M ade standard-gauge In 1912. V . 95. p.
1541. Stock. $250,000; par, $100. D iv s.: In 1903. 2 % ; year 1905-06.
3 % ; 1910-11 and 1911-12, 1 0% : 1912-13 to 1914-15, none. Earnings for
1914-15, gross, $92,366: net, $21,848; bond ln t., $11,416; charges, $5,741;
sur., $4,690. Pres., John P . Kellas, M alono. N . Y .— (V . 95, p . 1541.)
HOUSTON BELT & TE RM IN A L R Y .— Owns a terminal line In and
around H ouston, T ex .. 20 miles, with lMge freight and passenger ter­
minals. C ontrolled by four proprietary roads, v iz ., Beaum ont Sour Lake
& W estern R y ., G u lf C olo . & Santa Fe (Atchison S ystem ), St. Louis
Brownsville & M exico R y . and T rinity & Brazos Valley R y ., which each
own 25% o f the $25,000 stock and, under the terms o f an agreement dated
July 1 1907, agree to p a y , under a pro rata wheelage basis, operating exenses, and, on a one-fourth basis, lnt. on bonds and annual sink, fund o f
% o f bonds issued. T h e Terminal C o. has leased from G u lf C olo. &
Santa Fe R y . for 99 years from July 1 1907 all o f Its property In H ouston,
T e x ., and the Terminal C o . has agreed to pay m onthly rental and maintain
the prop erty.— (V . 96. p . 652; V . 97, p . 1286.)
H O U S T O N & B R A Z O S V A L L E Y R R .— Owns A nchor via V elasco.
T ex., to Freeport and Lighthouse, 23.6 m .; trackage over Intern. & Great
N or. for 5 years from N o v . 10 1912 from Anchor to H ouston. T ex .. 40 m
In M arch 1916 Receiver Georgo C . M orris was authorized to Issuo $100,000
6 % receiver’s certificates to build a bridge over the Brazos River con n ect­
ing Valasco and Freeport. Brazoria C ou n ty will p a y part o f tho cost.
V . 102, p . 1250.
T ho M issouri K an. & Texas in 1913 acquired a half interest In tho stock,
B. F. Yoakum and associates being Interested also. V. 96, p. 1021. 1089.
Stock auth.. $120,000; ou t, $24,000. O f the $420,000 bonds, one-half are
guar, b y the M . K . & T ., prln. and ln t., which has purchased $92,000 a d d i­
tional. V . 97. p. 1590. For year 1913-14, gross, $56,180; oper. d e f.,
$47,189; charges, $35,097. Pres., Chas. E . Scnaff.— (V . 102. p. 1250.)
HOUSTON EAST & W EST T E X A S R Y .— (See M a p o f S o u t h e r n P a c i f i c .—
Owns from H ouston, T e x ., to Sabine River at Logansport, 191 miles.
Stock $1,920,000. of which $1,919,100 owned b y So. Pao. Co., which has
gUManteed $2,536,000 o f the bonds, prln. and lnt., by endorsem ent, re­
serving the right to call them at 105 & lnt. V . 70, p. 841; V . 71, p. 236.
D lv .. 16% paid in 1902-03, 3 0% in 1907-08, 10% in 1909-10. 11% In
1911-12 and 4 % In 1912-13, out o f accumulated surplus. Year 1914-15
gro ss ,$ l,3 6 1 ,8 5 8 ;n e t,$249,796; o t h e r in c ..$61.423; ch a rges.$277,139:su,r
$34,080. In 1913-14, gross, $1,443,372; net. $381.676.— (V . 78. p. 2384.)
HOUSTON & T E X A S CEN TRAL R A IL R O A D .— (See M a p o f S o u t h e r n
P a c i f i c .)— Owns from H ouston, T e x ., to Denison, T e x ., 338 miles; H em p­
stead, T ex ., to Llano, T e x ., via Austin, 215 miles; Brem ond to Ross, T e x .,
55 m .; Garrett to F t. W orth , 53 m .; M exia to N elleva. 94 m .; Giddings to
H eam e, 58 m .; other, 43 m .; total June 30 1915, 856 m iles. Trackage
rights over San A ntonio & Aransas Pass from Giddings to Flatonia, 38 m .
S T O C K .— Stock, $10,000,000, o f which the Southern Pacltlo Co. owned
19.998,400, par $100. V . 76, p. 1084, 1192. 1407.
In 1902-03 6 % was
paid out o fa ccu m .su r p .; In 1910 -1 1,20 % ; 1912-13, 3 % . V . 76. p . 1407.
B O N D S.— The 1st M 5s are being gradually reduced with proceeds o f land
sales. The f i r s t m o r t g a g e was for $8,634,000.
Bonds m ay be called
at 110 and lnt. with proceeds of land sales. See a b s t r a c t of m ortgage in
V . 52, p. 242. W ith the exception o f $1,149,000 consol. M . 6s (on which
no interest Is paid) deposited with the trustee as part security for the genoral 4s, all o f tho consolid. 6s have been retired wltn proceeds o f land sales.
Southern Pacific C o. owns $450,000 Lampasas Extension interim 5s and the
$2,383,000 cu t-o ff 6s.
L A N D S .— June 30 1915 held for cancellation o f bonds 35.099 acres.
E A R N IN G S .— 10 m os., (1915-16___ Gross, $5,536,595; net, $1,262,157
July 1 to April 30.
\l914-15------Gross, 5,568,256; net,
960,249
Y ear 1914-15, gross, $6,563,488; net. $1,053,272; other Incom e, $445,­
595; charges, $1,329,373; b a l., sur., $169,493. In 1913-14, gross, $6,570,­
737: net, $994,058.— (V . 99. p . 608; V . 100, p . 474.)
*
*
H U D SO N C O M P A N IE S .— Incorp. Jan. 9 1905 in N ew Y ork . Holding
com pany for Hudson & M anhattan R R . C o. (see b elow ). Owned D ec. 31
1914 $2,307,613 o f the $5,242,151 Hudson & M anhattan R R . pref. and
$25,171,209 o f the $39,994,890 co m .s to ck . Also owns $2,000,000 stock o f
Greeley Squaro R ealty C o ., whose building at 33d St. and B ’w ay, N . Y ., is
leased to Gim bel B ros., and $2,877,000 o f its R ef. 5 % bonds. V . 90. o .
1614.234; V . 9 1 . p . 1773; V . 88. p . 748. 1127: V . 96, p . 197; V . 9 8 . p . 73.
T ho 6 % notes due A ug. 1 1918 are secured b y $25,000,000 Hudson & M a n ­
hattan R R . co m ., $1,000,000 pref. stock and $1,000,000 com . Greeley
Square Realty C o . and $24,500 1st ref. M . bonds. V . 98. p . 233. Other
obligations have been p a id . See V . 100. p . 140, 54.
R E P O R T .— R eport for calendar year 1915, V . 102. p. 342, showed to ta 1
incom e, $146,701 (against $145,161 in 1914); int., taxes, & c., $104,019:
b a l., sur., $42,682.

?




A m ount
O u ts ta n d in g

R a te
%

6 K
6 K
5 g
4 g
e g

W hen
P a y a b le

M &
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&
J
&
M &
M &
J
&
A &
M &

i e
6

F

&

F
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414 g F
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[Vol. 102
L a s t D iv id e n d
a n d M a tu rity

Sept
July
July
May
May
July
Apr
May
July
Deo
June

1 1922
1 1937
1 1937
1 1933
1 1933
1 1937
1 1921
1 1930
1 1941
1 1925
11940

A A ug 1 1918

Feb
Feb
Feb
Feb

1
1
1
1

P la c e s W h e re In te r e s t an d
D iv id e n d s a re P a y a b le

Old Colony Tr Co, Boston
Central Trust Co, N Y
165 B roadway, New York
do
do ••
165 B roadw ay, NewYork
do
do
do
do
do
do
do
do
do
do
H arvey Fisk & Sons, N Y

1932
1957
1957
1957

Guaranty T rust C o , N Y
H.Fisk & Sons.N Y & L on
II Fisk & Sons, N Y& Lon
1% paid Oct 1 1915
Harvey Fisk & Sons. N Y
T o Mch 1919
Guaranty T rust C o . N Y
T o Oot 1920
do
do
Aug T 6-A ug ’21
do
do
Jan 28 1904 1% Phila olTlce.No Am Bldg
Jan 25 1908 3 J4
do
do
Sept 30 1920
do
do
Feb 1 1925
do
do
Mch 31 1925
do
do
T o Oot 1 1921
Phila Tr S D & Ins Co

O F F IC E R S .— W . G . Oakman, Pres.; W m . H enry B am um , V .-P . &
Treas.; W m . Everdell, Sec. Directors: Chas. F. Adam s 2d and G eo. O.
Lee, Boston; W m . M . B am um , Pliny Fisk, Oscar L . Gubelm an, W m . O.
Lane, W . G . Oakman, John W . Simpson, John I. W aterbury, W m . Henry
Barnum, Julius W orkum and W m . Everdell J r., all o f N . Y . C ity, and
Truman H . N ew berry, D etroit. O ffice, 111 B roadway, N . Y .— (V . 102.
p . 342.)
H U D SO N B A Y R Y .— See Canadian Northern R y . and V . 102, p . 1987.
H U D SO N & M A N H A T T A N R R .— (See M a p .)— Owns and operatee
double-tube electric tunnels opened in 1908 from Sixth A ve . and 33d S t.,
N . Y . C ity , under the H udson River to the D . L. Sc W . R R . station,
H oboken. N . J .. and thence southwardly through th e E rle a n d Pennsylvania
R R . stations In Jersey C ity and under the Hudson River to the Hudson
Term inal Buildings on Church St. (one block west o f B roadw ay), extending
from C ortlandt to Fulton S t. T otal double-track tunnel in operation, 7.91
miles. Also affords through service between Newark and N . Y . C ity ,
using Penn. R R . tracks from Jersey C ity to N ewark. V. 90, p. 635. 1041;
V. 93. p. 871, 1259. 1462; V. 94. p. 1246; V. 100. p. 1310. T ho P . S.
Commission has extended the tim e for beginning tho proposod line from 33d
St. to Grand Central Terminal to July 1 1915. V. 98, p. 999, 1156, 1993.
Owns Hudson Term inal Bldgs. Fares, see V . 93, p . 1462; V. 94. p . 1507.
S T O C K A N D B O N D S .— Under the readjustment o f Jan. 14 1913 (with­
out foreclosure) (V . 96. p. 208) fixed charges were reduced from $3,021,660
to $1,851,750. The plan was assented to In 1913 b y about 9 8 )4 % o f the
4 H % bonds and 95 >4% o f stock. Application to list, giving description
o f new securities, & c., V . 98. p. 393-8.
F i r s t M . ($65,000.000 A u t h . ) i s s u e d , 5 % call, any int. date at 105 $36,765,134
Reserved (Interest rate not to exceed 5 % ) Tor—
(1) Retirem ent o f N . Y . & Jersey R R . 1st 5s, 1932, callable
110 ($5,000,000), 1st M . 4 H s . due 1947. $944,000 car
trusts due Sept. 1 1913 to A ug. 1 1921 ($1,263,000) and
real estate mortgages ($1,207,500), not over......................... 9.536.000
(2) A dditions, betterm ents and equipm ent; also for exten­
sions free from prior encumbrances, p rovid ed #he annual net
Income o f the com pany Is 1 y , times the Interest upon the
new 1st M . bonds, incl. those then abou t to be Issued, s a y . 12.698,696
(3) Extension to Grand Central Station on same con dition s. 6,000,000
A d j u s t m e n t I n c o m e M o r t g a g e B o n d s — Int. payable out or surplus
incom e and cum . from Jan. 1 1920 ( V. 96, p. 209), Issued.........33,102,000
Reserved for exchange for remaining 1st M . bonds..... ..........
472,000
T he deposited stock is to be held for 5 years in a voting trust and
so long as the adjustm ent bonds shall not have received full 5 % Int. for the
preceding year, the holders shall have the right to nom inate or approve
up to one less than a m ajority o f the board. Voting trustees: Charles
Francis Adam s 2 d ., Boston; Felix M . Warburg and A lbert H . W iggln, N . Y .
IN C O M E IN T E R E S T .— Interest on Income bonds, 5-6 o f 1 % for 5 m os.
rate 2 % yearly, paid Oct. 1 1913 to April 1916, Incl. (1 A . & O .).
E A R N IN G S .— F or 4 m os. ending April 30 1916:
G ross.

1 9 1 6 .................. .............. .......... $1,981,711
1915 ............................................ 1.861,908

N et.

C h a rg es.

B a l.,S u r .

$1,124,205
1,084.507

$853,982
844,851

$270,223
239,655

R E P O R T .— R eport for year ending D ec. 31 1915, at longth, with balance
sheet, in V . 102, p . 1342, 1359,’ showed:
C a l. Y e a r —
1915.
1914.
C a l. Y e a r —
1915.
1914.
Gross R R .re v .$3,725,989 $3,750,950
D e d u c tio n s —
N ot,after t a x .$1,997,156 $2,052,406 Prior to bd .int. $343,765
$236,790
N et inc. H . T .
Fixed bd. in t. 2,137,998 2,121,007
B u ild in g s ..
947,395
957,080 Incom e in t___
662,040
662,040
M iscellaneous. 78,344
68.818
T otal not lnc.$3,022,895 $3,078,304 Balance_____ dof.$20,908sur.$58,467
R a ilr o a d s —
1915.
1914.
1913.
1912.
1911.
Gross earnings..$3,725,989 $3,750,950 $3,743,713 $3,630,001 $3,044,756
N et before taxes. 2,269.394 2,303,611 2,288,687 2,321,856 1,857,632
O F F IC E R S .— Pres., W ilbur O. Fisko; V .-P ., R . W . Meirs; Sec. & Treas.,
J. S. O ’ Noalo: C om n .. F. II. Silltck. N . Y . O ffice, 30 Church S t.— (V .
100, p. 1340, 1358; V. 101, p. 448, 846, 923, 1713; V. 102, p . 885, 1342.)
HUNTINGDON & BROAD TOP MT. R R. & COAL CO.— Own# from
Huntingdon, P a., to Mount Dallas, P a., 44 miles: branches, &o., 28 m iles.
D E P O S IT OF S T O C K .— Over 7 5% o f stock has been deposited with 5
trustees (Drexel & C o ., Phila., depositary) under agreement providing for
sale on or before April 1 1918 o f same, which shall not be less than a m ajority
o f the outstanding stock (the pref. at not less than $50 and the com . at not
less than $25 per sharo.) V. 96, p. 420, 1021, 1297, 1488.
D IV S. ’98. ’99. '00. ’01. *02. ’03. ’04. ’05. ’06. ’07. ’08. ’09-’ 13. 1914.
Common 0
0 0
0
0
5
1
0
0
0
0
Preferred 5 514 7
5
6
7
65V4714
7 3 H
R E P O R T .— Annual results com paro as follow s;
G ross.
N et.
I n t e r e s t «ftc. Bal,. Surp.
1915............................ $598,804
$202,988
$139,190
$63,798
1914............................. 555,836
144.017
106.190
37.827
Pres. & Gen. M g r., Carl M . Gage.— (V . 100, p . 474; V. 102, p . 885.)
ID A H O S O U T H E R N R R .— Tho intcrost duo N o v . 1 1913 having been
defaulted, tho collateral was to bo sold Juno 29 1914.— (V . 101, p . 1806.)
ID A H O & W A S H IN G T O N N O R T H E R N R R .— M cG uires, Id a ., to
M etaline Falls, W ash., 105.15 miles; Coloman, Id a ., to Olagstone, Ida.,
6.15 miles.
Acquired In Jan. 1916 at foreclosure sale by Chic. M ilw . &
St. Paul. V . 102. p . 436.
ILLINOIS CEN TRAL R R .— (See M a p .)— R O A D .— Operates from Chi­
cago, 111., southerly to New Orleans. L a., 912 miles, and westerly to Sioux
Ctty, la .. 509 miles, with numerous branches, viz. ( ‘ which see);

HUDSON & M A N H A T T A N R. R. CO




M AP OF S Y S T E M
STATION

THE NEWARK SERVICE IS OPER­
ATED OVER PENNSYLVANIA R R
TRACKS BETWEEN SUMMIT AVE
STATION. JERSEY CITY AND
BARK PLACE STATION NEWARK

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64

R A IL R O A D C O M P A N IE S
[F o r a b b re v ia tio n s , & c ., see notes on f i r s t page]

Illinois Central— Stock $123,552.000.........................
Leased line 4% stock guaranteed (see remarks)__
First mtge of) Sterling bonds old 6s ext In 1895. .z
1 8 7 4 for Sterling bonds extended In 1905-z
$15,000,000 4s of 1886 due 1951 gold.._zo*& r
secures a l l 3 Ms of 1886 due 1951 gold..zo*& r
equally .U s 3s of 1895 due 1951 gold__ zo*&r
(v 83. p 76) 3 Ms of 1903 due 1951 gold..zo*& r.
Trust bonds sterl. (sec by Ch St L & N O cons). U s .z
First M Sp DIv ref M (V 66, p 1237) gold._Us.yo*&r
Kank & S W 1st M Otto to Normal Juno & br__ zr
Cairo Bridge bonds gold (see remarks)..Us.zo*<Scr
St Louis Dlv & Term M $ 10,000,OOOgoId _Us.yo*&r
do
$5,000,000 (see V 65, p 1173) g.U s.yo»& r
•Underlying St LI Belleville So Carondelet 1st M.zo*
Dlv So Terml-[St Louis Southern 1st Mg.Ba.zo*
nal mortgage-JCarb & Shaw 1st M g o ld ..izc*
Purchased lines 1st M $20,000,000 gold..U s.xo*& r
R ef M (Nor Lines) $120,000,000 g red..Q .xc*& r*
Collateral trust bonds gold $..............._Us.zo*&r
Coll trust $25,000,000 gold on L N O So T .U s.zo’ &r
Western lines first mortgage gold_______ Us.zo*&r
Ch St L So N O cons M ($18,000,000) g Int gu.xo*<Scr
do
guaranteed principal and Interest_______ x
Joint lst& ref M (Southern lines) $120,000,000—
Series A callable 110 after Dec 1 1918..F,y.c*r*
Series B callable at 110 after Dec 1 1918________
Mempnls Dlv 1st M gold guar p & 1 (end).Us.zo*
Loulsv D So T M $25,000,000 g...................U s.yc'& r
Omaha Dlv 1st M g $5,000.000_________ Us.xo*&r
LItoh Dlv 1st M g $4.000.000.............................F.xo*
lstlleneqM$30,000,000(less$22,213 OOOcanoeled) Us-x
Equip eq certs g ser A $400,000 s-a red text_____x
do
do gserB due$l76,000 s-a (V97, p 299) x
do g ser O due$99,000s-a redl02Mbeg 1920 yc*
do ser D due $95,000 each J & J; callable 102M Sc
Int on or after Jan 1 1921___________________ k
C h S tL & N O eq tr ser A g gu red 102M begD ec’ 19
due $250,000 seml-ann______________________ c*
Iowa Falls & Sioux City—See statement of Dubuq
a Includes $5,266,000 consol 5s pledged to secure

M ile s D ate
R oad Bonds

Par
V a lu e

Am ount
O u tsta n d in g

R ate
%

W hen
P a y a b le

$100 $109296000 5 In 1915 M &
J So
100 10.000,000
4
1875
£200 2.500.000
4g A &
£200 1.000,000
1875
3 M g J So
1,000 1.500.000
706 1886
4g J &
1886
1,000 2,499,000
3M g J A
1895
£200
£500.000
3g M &
1903 1,000 &c 3.000,000
3 Mg A So
1886
£200 5,266,000
3 M g J So
1,000 2.000,000
111 1898
3M g J So
1,000
F So
131 1881
968.000
5
1892
1,000 3,000,000
4 g J So
500 &o 8.377.000
^ 239 J1897
3 M g J So
11897
1,000 4.998.000
3 g ,T So
1 .0 0 0
17 1883
470,000
6 g J So
1.000
30 1886
538.000
4 g M So
17 1887
1.000
241,000
4 g M So
748 1904 1,000 &c 12,000.000
3 M g J So
2,187 1908 1,000 &c 37,740,000
4 g M So
857 1888
500 &c 15.000,000
4 g A So
798 1892
500 <fcc 24,929,000
4 g M So
1,000 5.425,000
218 1895
4 g F So
567 1881
1,000 al6,635,000
5g J &D
1,000 1,359.000
567 1897
3M g J & D
1.512
1.512
100
640
130
98

1913
500 &c 25,000,000
£100 &c £1,000,000
1913
1889
1,000 3 500,000
1897
600 <5ec 23,888,000
1900 1,000 &c 5.000,000
1900
1,000 3,235.000
1908
1913
5.600,000
1913
1,000 2,625.000
1,000 1.782,000
1915
1916

1,000

1,900,000

5g J
5g J
4g J
3M g J
3g F
3g J
4g
4M g F
F
5g
4M g A
4M

J

L a s t D iv id e n d
a n d M a t u r it y

P la c e s W here In terest a n d
D iv id e n d s a re P a y a b le

vS Mar 1 ’ 16. 2M % 32 Nassau St, N Y . & Lon
do
do
J July 1 1916 2%
BaringBros .London ,Eng
32 Nassau St ., New York
D Deo 1 1950
do
do
J Jan 1 1951
do
do
J Jan 1 1951
Baring Brothers, London
R Moh 1 1951
O Apr 1 1951
32 Nassau St New York
Baring Brothers, London
J July 1 1950
J Jan 1 1951
32 Nassau St , NowYork
do
do
A Aug 1 1921
do
do
D Deo 1 1950
do
do
J July 1 1951
do
do
J July 1 1951
do
D June 1 1923
do
do
do
R Sept 1 1931
do
do
R Moh 1 1932
do
do
J July 1 1952
do
do
N Nov 1 1955
do
do
O Apr 1 1952
do
do
N Nov 1 1953
do
do
A Aug 1 1951
do
do
15 June 15 1951
do
do
15 June 15 1951
0 Apr 1 1951

do
do
D Dec 1 1963
1) Dec 11963
Baring Bros, Lon A N Y
32 Nassau St ..New Y oik
D Deo 1 1951
do
do
J July 1 1953
do
do
A Aug 11951
do
do ,
J Jan 1 1951
Jan 1 1923
Sc A Aug ’ 16-Feb ’23 N Y off or Com Tr. Phil*
Sc A Aug ’ 16-Aug ’23 N Y office or Un Tr, Pitts
N Y office or Com T r, Phil
Sc O To Apr 1925
Sc
Sc
So
So
So
So

&

J July ’ 16-Jan ’26

1914
1.000 4,250,000
5 g J & D To Doc 1924
je So Sioux City.
Illlnol s Centr a! collate ral trust bo nds of 18 80

R o a d o w n ed in fe e —
M ile s .
L e a s e d — C o n tro l o w n ed —
M ile s
Chicago to Cairo, 111__ lMaln
Chicago St. L. Sc N. O. R R „
Oentralla, 111., to Eastlstem .. 706
Cairo, 111., to New Orleans__ 547
Dubuque, Iowa____J
Line to Louisville, &o______ 753
Dubuq. Sc Sioux City (see above) 761
Mem.,Tenn.,toMem.Jct.,Miss 98
Springfield to East St. Louis__
97 St. Louis Alton & Terre Haute. 224
Peoria. 111., to Evansville, Ind.,
E n t i r e s t k .o w n e d - Branohes.&ol ,003
with 6-mlle branch_________ 234
T r a c k a g e , & c _______________ 180
Indianapolis, Ind., to Effing­
ham. 111. (V. 93, p. 880).........177
Totaloperated June 30 1915.4,774
HISTORY. LEASES. &o.— Chartered on F eb.101851. The company pays
to the State of Illinois 7% (for the 12 months ending Apr. 30 1915, $1.344,­
684) of gross of the 706 miles owned In fee yearly In lieu of taxes. The Cbloago St. L. & N. O. Is leased for 400 years from July 1 1882 at 4% per annum
on Its $10,000,000 capital stock deposited to secure the lea sed lin e stock and
Interest on bonds.
Owns all the cap. stock ($5,000,000 common and $16,000,000 pref.) of
Central of Ga. R y. but road Is operated Independently. See that co. above.
The entire stock of the Yazoo So Mississippi Valley R R „ 1,382 miles. Is
owned In the Interest of the Illinois Central, the latter also owning nearly
all of the bonds, which are deposited as collateral. Year end. Juno 30 1915,
operating revenues, $11,836,984; other incomo. $246,850; total, $12,083,834;
operating expenses, taxes and int., $12,073,009. In 1913 State of Miss,
authorities brought suit to compel sale of tho Yazoo road. V .97,p.237. 365.
Owns entire stock of Chic. Memp. & Gulf B it., 52 m.; V. 96, p. 420.716
CAPITAL STOCK.— The lea sed lin e stock Is secured by deposit of $10,­
000,000 Chicago St. Louis & New Orleans stock. (V. 65, p. 1071.)
In July 1915 Union Pacific owned $22,500,000 of the common stock.
D'lVS.l, ’ 88. ’ 89. ’90. ’91-’99. ’ 0 0 .’O lS ep /04’05 to’ 12. *13. ’ 14. ’ 15. ’ 16
on stk/ 7 5M 6 5 yearly 5M 6 yearly 7 yearly
6
5
5 2M
BONDS .— C a ir o b rid g e , see adv. In “ Chronlole,” May 7 1892.
The trust b o nd s of 1886 are secured by deposit of $5,266,000 Chicago St. L,
& New Orleans consols of 1881; also by a lien on the road. See V. 86, p. 1343.
C o lla te r a l T r u s t b o nd s o f 1952 are secured by pledge o f $16,350,000 5%
1st M . bonds o f subsidiary lines covering 863 miles. V. 55, p. 550; V. 102,
p. 1,346.
The $25,000,000 co lla tera l trust bo nd s of 1953 are secured by pledge of all
the Loulsv. N. O. & Texas (now Yazoo Sc Mississippi Valley R R .), $16,­
900,000 1st mtge. bonds, except $68,000, all the $9,104,000 mtge. Incomes
and all land grant Incomes, $6,553,277; V. 54, p. 964; V. 61, p. 112.
C h ica g o S t . L o u is <ft N e w O rlea n s 5s have their Interest guaranteed (by
endorsement) until the principal Is paid. The 3 Ms of 1897 are guar., prin­
cipal and Interest, by endorsement— see guaranty. V. 65, p. 1071.
The W estern L i n e s lo a n of 1894, see “ Supplement” of Jan. 1899.
The S t . L o u is D iv is io n & T e r m in a l b onds are for $15,000,000 authorized,
$1,499,000 are held to retire $1,400,000 underlying bonds. A bstract of
mortgago In V. 66, p. 138. See also V. 66, p. 133; V. 71, p. 546.
L o u i s v i lle D iv is io n <fc T e r m in a l m tge. Is for $25,000,000: of the bonds
$1 ,112,000 were reserved to purchase the 46 m, (Cecilia br.) from Louisville
So Nashville and to retire the L. & N. bonds thereon. Chicago St. Louis Sc
New Orleans took title to the Loulsv. Dlv. and Joined In making mtge. See
V. 66. p. 136, for abstract: also "Supplement” of Jan. 1899. V. 65, p. 367,
616: V. 66. p. 133; V. 67. p. 681; V. 75. p. 671; V. 97. p. 887, 1024.
Of p u rc h a s e d lin e s 3Ms of 1904 $14,662,000 were Issued on 748 miles of
subsidiary branch lines purchased, of which $2,662,000 were canceled
In Jan. 1911 and ref. bonds substituted therefor.
There are also $5.­
338,000 reserved to retire at maturity $968,000 bonds o f the Kankakee
& Southwestern lsts due 1921 (see bond table above) and $4,370,000 bonds
of the Chicago Madison So North. (231 m .), which are pledged for the coll. tr.
4s of 1952. (See V. 71. p. 288; V. 79, p. 1273, 1642, 2588: V. 81, p. 1105.)
The r e fu n d in g mtge. gold 4s of 1908 (auth. $120,000,000) are subject
to call at 107M and Int. M . Sc N . beginning Nov. 1 1918. See V. 87, p.
1357, 1420; V, 88, p. 295; V. 92, p. 261, 527, 1636; V. 97. p. 1024; V. 98, p.
1459, 1608; V. 99, p. 1300. Cover main lino, Chicago terminals, so-called
purchased lines, Springfield D lv.. tho St. Louis D lv., S ec., a total o f 2.187
m ., subject to bonds aggregating $61,766,000. lncl. $2,500,000 Chic. Hava­
na & West. 5s and Rantoul R R . 6s pledged under 4s of 1952.
P u rp o se s f o r w h ich $79,260,000 R e f. B o n d s ( N o r . L in e s ) U n is s u e d w ere R e s ’v ’d .
To retire a like amount of prior lien bonds___________________ $59,026,000
Additional main track. Improvements, funding debt, &o____ 20.234,000
The Illinois Central and Chic. St. Louis & New Orl. R R . Joint First Re­
funding M . bonds ($120,000,000 auth. Issue) are issuable In series bearing
Interest at not to exceed 5% and are secured on about 1,512 miles of the
Southern lines, including tho main line from Cairo, 111., to New Orleans,
La., &c., and comprising all the system lines south o f tho Ohio River except
the Chicago Memphis & Gulf R R ., the Brookhaven Sc Pearl River R R . (52
m. and 21 m.respectively) and tho Yazoo & Miss. V al.RR. V.97, p.1822
1733, 1204; V. 98, p. 1459, 1608; V. 99, p. 1300; V. 100, p. 397,474,1852’.
P u rp o se s f o r w h ich s a id $120,000,000 J o i n t B o n d s a re Is s u a b le .
(a ) To purchase and Improve railroads, terminal, properties,
&c., covered by this mtge. ($5,000,000 Ser. A ana £1,000,000
Ser. B, sold In 1913, and remainder In Jan. 1915]__________$33,348,100
(b) To refund or retire a like amount o f prior mortgages_____ 50,132,000
<c) For future improvements, construction, etc______________ 36,519,900
Equip. 4Ms 1913 callable at 102M after Feb. 1 1918. V. 9 6 ,p. 135,553.
FINANCES.— In 1914-15 sold $20,000,000 Joint Ref. 5s and $5,000,000
I. C. Ref. 4s. In Dec. 1914 sold $5,000,000 5% equip, trusts and In Apr.
1915 $1,980,000 4Ms- In Jan. 1916 $1,990,000. V. 102, p. 608,345. V.
99, p. 1748, 48; V. 100, p. 1257.
EARNINGS.— 10 m os.,[1915-16..Gross, $57,186,356; not, $11,376,956
July 1 to April 30.
U 914-15..Gross, 62,391,378; net, 9,717,367
REPO RT.— Annual meeting Is held the third Wednesday In October.
Report for 1914-15 was in V. 101, p. 1265, 1277; editorial, p. 1224.




[Vol. 102

RAILWAY STOCKS AND BONDS

do

do

do

do

1914-15.
1913-14.
1912-13.
4,770
4,769
4,763
Average miles operated_____________
Passenger earnings..................
$12,640,597 $13,715,979 $13,455,884
Freight earnings................................. 41.212,271 43,871,272 42,589,299
Mall, express, &c.................................. 7,847,504
8,286,449
8,235.720
Total earnings..................................$61,700,372 $65,873,700 $64,280,903
Operating Income (after taxes)______$10,878,473 $11,739,475 $11,250,84
Other income....................................... 7,659.428
7,320,600
5,999,352
Total not Income................................ $18,537,901 $19,060,075 $17,250,200
Interest on bonds....................................$5,487,883 $6,094,528 $5,653,217
Rentals. &c........................................... 6.344,759
4,868,365 5,021,870
Dividends on stock............................... (5)5464,800 (5)5464,800 (6)6557.760
Balance, surplus_________________$1,240,459 $2,032,382
$17,353
OFFICERS.— Pros., Chas. H. Markham; V.-P. (operation), W. L .
Park; V.-P. (traffic), F. B Bowes; V.-P. (purchases), O. F. Parker; Sec.,
D. R. Burbank; Treas., A. J. Wykes. Gen. offices, Chicago. 111.; New
York office, 32 Nassau Street.
Directors.— Walther Luttgen, John W . Auchlncloss, William Averell
narrlman, O. H. Markham. Cornelius Vanderbilt, J. Ogden Armour,
Chas. A. Peabody. It. W . Goelot, John G. Shedd, It. S. Lovett, H. W .
do Forest, Philip Stockton and, ex-offlclo, Hon. Edward F. Dunne. Gov­
ernor of Illinois.— (V. 101. p. 1265, 1277; V. 102. p. 345, 1346, 1896.)
ILLINOIS SOUTHERN RY.— Owns Salem, 111., to BIsmarok, Mo. (Incudng River Transfer, 60 miles), 123.34 m.; Collins, 111., to Chester, 111.,
10.67 m.; branches, 2.83 m.; total owned, 136.84 m.; trackage, 2.81 m.;
total, 139.65 m. Reorg. of Centralla & Ghes. R R ., &c. Seo v . 94, p. 559.
Stock, com., $4,000,000: 6% cum. pf., $1,000,000: par, $100, all out.
The remainder of the $3,000,000 1st M . bonds Is roservod for additions,
Ac. V. 93. p. 589; V. 90. p. 167. Holders of $1,528,000 1st M . bonds
canceled the coupons due Dec. 1 1913 and all In 1914, and holdors of $206 000 bonds canceled all 1914 coupons. Car trusts Juno 1916, $9,000.
R EPO RT.— For year ending June 30 1915, gross, $527,336: not, after
taxes, $82,307; int., &c., $77,864; bal., sur., $4,444. In 1913-14. gross,
$561,765; net, after taxes, $105,784. Pres.. E. K. Boisot; Sec., E. M ,
Tourtelot; Treas., O. A. Bestel, Chicago; V.-Pros., J. W. Walsh; Aud.,
A. F. Williams, St. Louis. Offlco, 717 Locust St., St. Louis, M o.—■
(V. 101, p. 1372.)
INDIAN CREEK VALLEY RY.— Projeoted from Indian Creek to Rockwood, Pa., 55 miles, with branch from Bakcrsvlllo to Barronvlllc, 10 miles,
of which 19.6 miles completed Juno 1910. Stock, $1,500,000. Bonds, see
table above. Fidelity Title & Trust Co., Pittsburgh, trustee. Pres, and
Gen. Mgr., Charles F. Hood; Vlce-Prcs. and Purch. Agt., John M. Stauffer,
Scottdale, Pa.; Seo. and Treas., James S. Braddook, Mt. Pleasant, Pa.
INDIANA HARBOR BELT RR.— Owns Whiting, Ind., to Blue Island.
111., 14 miles; McCook to Franklin Park, 111., 10.5 m.; Argo to Union Stock
Yards, Chicago, 10.6 m.; State line to Grassed, Ind., 5.6 m.; branches, 4.7 m;
total owned, 45.5 miles; trackage, 36.8 m.; contract, 27.2 m.: total. 109.5 m.
Stock outstanding, $2,450,000, of which L. S. & Mich. Sou. (now
New York Central) and Mich. Cent., which guarantee tho bonds, own 60%
and C. M . Sc St. P. and O. & Northw. 40% . V. 93, p. 164. Of the bonds
($25,000,000 auth. Issue), $2,500,000 aro reserved to retire Chic. Ham. & W.
6s. $2,600,000 bonds out bear Int. at 3% 1912 to July ’ 17, thon 4 % . V. 86.
p. 108. Duo for advances Dec. 31 1915, $4,611,693. Report for cal. year
1915 showed: Gross, $3,458,052; not, after taxes, $1,133,376; other income,
$93,642; Int., rentals, &c., $1,296,099; bal., dof., $69,081.— (V. 98, p. 1602;
V. 100, p. 1168, 2006.)
INDIANAPOLIS UNION RY.— Owns 4.47 miles of yard tracks and
sidings, .93 of a mile of road with terminals at Indianapolis, Ind., and leases
for 999 years the Belt R R . of Indianapolis— 14.18 m. (which see). Clev.
Cincinnati Chicago & St. Louis, the Pittsburgh Cincinnati Chicago & St.
Louis and the Vandalla R R . are virtual proprietors, they having Invested
In It $1,056,426 to June 30 1914. No stock outstanding.
BONDS.— Tho General and Rof. M . of 1915 will securo not over $10.­
000,000 50-year bonds, to bear rates of Interest as may bo horeafter deter­
mined, to be guaranteed Jointly and severally, prin. and int., by tho three
companies abovo named; a sufficient amount Is reserved to rodoem tho
4 Ms of 1886 when due M ay 1 1926, and remainder for futuro purposes.
The threo guarantor companies and also tho Lake Erlo & Western R R .,
Cincinnati Indianapolis & Western R R ., Chicago Indianapolis Sc Loulsvlllo
R R . and Illinois Central RR. havo contracted to uso tho property perpetu­
ally as thoir main passenger terminal, and to pay each Its proper and desig­
nated proportion or the Interest on present or futuro values and of any bond
Issued for additions to or improvements of the property. The bonds are re­
deemable as a whole or in sorles 15 years after date, or any Int. day thereaf­
ter at 103; sink, fund beginning 1926, 1% of outstanding bonds, bonds pur­
chased to be kept alive; Farmers’ Loan & Tr. C o., N. Y .. and Union Trusj
Co., Indianapolis, trustees. V. 100. p. 1267, 556: V. 101, p. 1272.
Year ending June 30 1915, grass, $363,238; total deductions, $281,410
bal., sur., $81,828 (See V.101, p. 1271).— (V, 100, p. 555, 1257; V. 101, p.
1273.)
IN TERBOROUOH-CONSOLIDATED C O R PO R AT IO N .— ORGAN I­
ZATION.— A holding company, formed under N . Y. laws June 2 1915 by
merger of the Interborougn-Metropolltan Co. (organized In 1906,— V. 82,
p. 217, 280 and Financo Sc Holding Corporation, por plan In V. 100, p.
1437, 1510. 1751, with a view to making the Initial capital “ well within the
fair value of the net assets of the consolidated company” and making pos­
sible also the payment of dividends at once. Tho old Intor-Mot. 5% cum.,
prof, received par In 6% non-cum. prof, and the old common an equal
amount of new shares of no par value. V. 100. p. 1917.
Owns $33,912,800 of tho $35,000,000 stock or ho Interborough Rapid
Transit Co. and $15,276,500 of the $i7,495,060 stork of tho New York Rys.
C o., V. 94, p. 203, 207; V. 95, D. 747: V. 101, p. 45.

June, 1916.]




RAILWAY STOCKS AND BONDS

65

66

RAILROAD COMPANIES
[F o r abbreviations, &c., see notes on first page]

Miles
Road

Illinois Southern— 1st M gold $3,000.000____ FC.xo*
•Income bonds $1,380,000 authorized_______ IC.xo*
Illinois Terminal— 1st M $5,000,000................... FC
Illinois T un nel Co— See Chicago Subway Co.
Indian Creek Valley Ry— 1st M red 19 17___ xoAr
Indiana Decatur & W estern— SecClnlnd A Western
Indiana H arbor Belt— GenM$25,000,000g G.xc*Ar*
do
do
do
______
Ohio Ham & W first mortgage gold assumed.xo’ &r
Indiana Illinois & Iowa— See New York Central RR
Indianapolis & Louisville— See Chicago Indianapolis
Indianapolis Un— 1st M gold s t not callable
FP.xo*
N Gen A R ef M $10,000,000 g gu red text__ F.c*Ar*
Interborough Cons Corp— Com stock (no par value
BfePref stock (as to assets) 6% non-cumulative______
Int.-M et coll tr bds g soc by Int R T stk s f text.xc*Ar
Ten-year notes s f red par_______________Ba.c*
Interborough Rapid T ransit— Stock $35,000,000-lst & refM $300,000,000 g s rod 110 (toxt) Q.yc*Ar*

Date
Bonds

Par
Value

136 1911
Text

1913

Amount
Outstanding

Rate

$1,000 $2,018,000
1,000 1.380.000
1,000 1.500.000

5g

1907

1.000

265,000

46 1907 1,000 Ac
1907
27*48 1897
500 Ac

2.500.000
1.725.000
2.500.000

& Lou lsvllle
93 1886
1915

Toxt

Lines to be Oper.by Interborough R . T . C o .
Road
(.Exclusive of M a n h a t t a n R y . a n d Sidings)— Miles.

Company's present lines...................................... 25.7
New, to be built Jointly by city and company. 48.5

Track
Subw.

56.1
75.6

Track
Total
Elev. Track.

16.9
71.5

73.0
147.1

T otal.................................................................. 74.2 131.7
88.4 220.1
The new lines (being built Jointly) here Include: (1) Lexington Ave.
subway extending,with 4 tracks, from a connection with the present subway
south of 42d St. northerly to 135th St. in the Bronx, there forking (a) to
Jerome Ave. with 3-track elevated extension thereon to Van Cortlandt Park
and Woodlawn Cemetery; (ft) as a 3-track subway via 138th St. and South­
ern Boulevard to Whitlock Ave., thence as a 3-track elevated road to Pel­
ham Bay Park. (2) 7th Ave. subway (4 tracks) connecting at Its northern
extremity on 42d St. with a lino to the Steinway tunnel (which became
the property of the city and Is leased by the Interborough), affording access
to Long Island City, and thence via new elevated lines to (a) DItmnrs
Ave.; (b) Corona and Woodslde. The 7th Ave. subway will at its southern
end divide so as to reach both the Battery and, (via a new tunnel under the
East River to Clark St., Brooklyn, and the present subway,) the Flatbush
Ave. (L. I. RR ) depot, whence It will run with 4 tracks along Eastern Park­
way to Buffalo Ave., with 2-track elevated extension on Livonia Ave. to
New Lots road. Manhattan R y.ls to have third track on2d,3dand9th Aves.
Cost to City a n d C o m p a n y — C o m p a n y ’s Total Requirement, $154,497.050’
.

,

.

,

City.

Company.

Total.

Cost of new subway construc’n------$66,000,000 *$56,260,000 $122,260,000
Sr0St*.°LequIPme^ t,-- — ...............- ..................
21,000,000
21,000,000
Manhattan Ry. (3d tracking, and extensions!.
27,696,050
27,696,050
Refunding all old obligations...................
49,541,000
49.541.000
* Not over this amount (Including contribution o f Steinway Tunnel under
East River at $3,000,000, city to meet any further cost (V. 96, p. 135.




%

When
Payable

J
A
M &
J &

A
3—4 g
4g
6g

Last Dividend
a n d Maturity

June 1 1951
June 1 1951
Dec 1 1938
D June 1927
July 1 1957
July 1 1957
Jan 1 1927

1.000
835,000
g M A N May
1.000 4,000,000
5 g J & J Jan
None 932,627 shrs
100 45,740.500 See text
Q— J July
1906 1.000 Ac 67 825,000
4H g A A O Apr
1915 1.000
2,500,000
6 K J A J Jan.
100 35,000,000 See text Q— J July
1913 1,000 &c 148,658,000
5 g J & J Jan

505.95 Miles of Single Track O w n e d by C o m p a n i e s Comprising System.
Interborough Rapid Transit C o., subway (see that co. below)_81.94 miles
Elevated (Manhattan Railway, leased)______________________ 118.03 mile.
Surface lines owncd(or controlled by Interb. Rap. Tran. C o ..141.07 mllei
New York Railways Co. and sub. cos. (see "E lec. R y. Sec.” ).164.91 miles
STOCK.— The preferred stock Is pref. as to divs. and assets. If in any
year the full 6% shall not be paid, the pref .stock shall at the next annual
meeting be entitled to double voting rights. The common stock, being
932.627 shares o f no par value was issued in exchange for an equal
number of shares o f Int.-M et. common stock o f $100 par value. V. 100,
up 1437, 1510, 1751.
VOTING TRU ST.— Over 90% o f the com. and 50% o f the pref. were
deposited under a voting trust agreement which finally expired March 6
1916. The voting trustees were August Belmont, Edward J. Bc'rwlnd,
Theodore P. Shonts and Cornelius Vanderbilt. V. 102, p. 800.
D IV ID E N D S.— On pref., 6% p. a. ( \ X % Q.-J.) July 1915 to July 1916.
BONDS.— The coll, trust 4H s o f 1906 of tho Int.-M et. Co. Empiro Tr.
C o., N . Y ., trustee are secured by pledge of stock of Interb. Rapid Transit
C o., $1,000 in bonds for $500 Rapid Transit Co. stock. V. 82, p. 280.
A sinking fund was established In 1910. S300.000 to be appropriated
yearly out of surplus Income after Interest and taxes to purchase bonds at
not over par, bonds acquired to be kept alive In the sinking fund. The
fund. It Is estimated, will exceed $40,000,000 by 1956. V. 93, p. 666. To
Dec. 31 1915 there had been purchased for tho sinking fund about $2,400.­
000 o f the $67,825,000 outstanding 4J4s.
In Jan. 1915 $3,000,000 10-year 6% notes were Issued (in excliango for
outstanding notes), secured by deposit o f $15,270,100 New York Rail­
ways stock owned. They aro subject to purchaso or redemption at par
for a yearly sinking fund o f $300,000. Amount was reduced from $3,000­
000 to $2,500,000 in 1915. V. 102, p. 519. V. 100, p. 140; V. 99, p. 1909.
INCOM E, Ac.— Statement for 7 mos. ond. Dec. 31 1915 in V. 102, p.
519. showed on a strict monthly pro rata for that period only, omitting
extraordinary items of income and expense, a surplus over tho preferred
dividend of $92,437.
OFFICERS.— Pres.. T .P . Shonts; V.-Ps., n. H. Vreeland, E. Mora
Davison. D. W. Ross; Sec., H. M . Fisher; Treas., J. II. Campbell. Office.
165 B ’way, N . Y .— (V. 101. p. 45, 1885; V. 102, p. 437. 518. 800, 1163.)
INTERBOROUGH RAPID TRANSIT CO.— (See M a p ) .— Incorporated
May 6 1902 In N. Y ., and Is now operating municipal tunnel R R . in N. Y.
City, extending, with two tracks, from the Flatbush Ave. station of L. I.
R R ., Brooklyn, and also from the Battery,Manhattan, to Bowling Green,
and thence to City Hall, and as a four-track line from tho City Hall (with
two-track loop at that point) under new Elm St., Fourth and Park Aves.,
to 42d St., thence under 42d St. and Broadway to 103d St.; also as twotrack lines, partly viaduct, (a) from 103d St. on the West Side to Van Cortlandt Park: (6) from 103d St. to Bronx Park; in all 85.29 mites of track
(inch 12 miles sidings, & c.), on 25.72 miles of road (of which 18J4 subway
and 7 elevated). Also leases Manhattan (Elevated) R y.,118 miles track.
Large portions o f the 147.1 miles o f track on tho company’s now rapid
transit lines (75.6 miles subway, 71.5 ni. elevated) have been practically
completed, while o f the 21 miles o f third track on tho 2d. 3d and 9th Avo.
lines o f tho Manhattan (Elevated) R y. C o., a part was placed in opera­
tion in Jan. 1916, .adding largely to the carrying capacity. Seo map on
adjoining page and also in V. 101, p. 1973. percentage or each lino completed.
V. 102, p. 345.
Owns stock of N. Y . A Queens County R y., 73 miles, and (Jointly with
Long Island RR.) the N. Y. A L. I. Traction Co. and Long Island Elec. R y.,
total. 68 miles. V. 80. p. 2621; V. 83. p. 818: V. 86, p. 1100.
N EW LINES.— On Mar. 19 1913 an agreement was signed between
the city and this company (V. 94. p. 1507. 1565; V. 96. p. 62, 359, 1701)
and the Brooklyn Rapid Transit Company, providing for expenditures
aggregating about $325,000,000, for tho establishment of comprehensive
dual systems of rapid transit serving all boroughs.
The official statement to tho N . Y . Stock Exchange, dated Juno 30 1913,
was published In “ Chronicle” o f Aug. 16 1913, pages 450 to 455, giving full
particulars as to new contracts, bonds. Ac. Seo also V. 97, p. 744, 1024.

„

[Vol. 102,

RAILWAY STOCKS AND BONDS

1 1926
1 1965

Places W h e r e Interest a n d
Dividends are Payable

First Tr A Sav Bk, Chic
First Tr & Sav Bk. Chic
Pittsburgh, Pa
Grand Cent Term. N Y
do
do
do
do
Fidelity Trust Co. Phllr
Farmers’ L & Tr Co, N Y

11916, I X Troas office, 165 B ’ way
1 1956
do
do
1, 1925
do
do
1 ’ 16 5% Belmont & Co, New York
1 1966
Treas office, 165 B ’way

To cover the company’s requirement under tho plan there have been sold
t° J. P. Morgan A Co., and through them to a syndicate, $160,957,000 now
1st M. 5% 53-year gold bonds, to be taken and paid for In four yearly In­
stallments,viz.: In 1913, $68,658,000: 1914, $30,000,000; 1915, $30,000,000:
l916.$32WOp.OOO. See V . 94. p. 1507. 1565. 1249; V. 96. p. 1228: V . 97.
p. 1024; V. 101, p. 1972. See below.
S u b w a y Leases, N e w a n d Old, to R u n 49 Years— Re-Capture.
The lease by the city to the company of the new subways Is for 49 years
from Jan. 1 1917, but if their completion should bo delayed through no
fault of the company, tho beginning of tho term will bo correspondingly
postponed; subject, however, to the city’s right of re-capture after 10 years.
Ihe leases of the existing subways as modified expiro contemporane­
ously with tho lease of tho new subways, but aro not subject to termination
by notice except as portions thereof may bo taken over in substitution
for the 7th Ave. branch or the Lexington Ave. branch of tho now sub­
ways in order to complete a direct longitudinal line, either upon the East
.Side or upon the West Side o f the city. As to tho old contracts, Nos. 1 and
2, see this Section, Issue of Feb. 1913 and V. 96, p. 1701.
The authorizations and licenses for the elevated railway extensions and
additional tracks aro for 85 years from the beginning of operation, and are
respectively subject to the right of the city to purchase and taku the prop­
erty at any time after 10 years upon payment therefor.
C o m p a n y ’s Cumulative Prior C laim o n N e t Earnings D u r i n g Life of Lease.

[From not earnings, after payment of rontal and taxes annually.)
(1) From net earnings of old and new subways (x ) the average
annual profits from the present subway during the two years
ended June 30 1911. $6,335,000: (y) 5% int. and 1% skg. fd.
on $80,000,000. the agreed amount of company's investment
in new subways and equipment. $4,800,000________ _____ .$11,135,000
(2) From not earnings present elovated lines and elevated exten­
sions and third tracks to be added, (x) Interest and 1%
sinking fund upon the $24,696,050 of now capital for elovated
railway extensions and connections and equipment, and In­
terest upon about $3,000,000 for improvement of Manhattan
power facilities, about $1,734,000; (y) average receipts of
company from Manhattan lease for two years ended June 30
1911, not less than $1,547,351.. .........................................__ $3,281,351
Total prior claim on net earnings after taxes and rentals____$14,416,351
Add company’s miscellaneous income, estimated.......................
400,000

Total minimum net income available for int. and sink, fds___ $14,816,351
Intorest (5% ) and sink, fund (1% ) on tho entire $160,957,000
bonds authorized to bo Issued to Jan. 1 1917 for construction
and equipment of tho new lines (which will add 170% to tho
miles of track in Dec. 1915 in operation in the subway and
20% to tho elovated lines) will amount to.................................$9,657,420
When the new subways and elovated extensions are completed, it is
estimated that for the first five years tho annual net earnings available for
interest will average $13,088,000 and for tho fifth yoar $15,490,000. In­
terest during construction forms part of cost of work.
When the profits from the operation of the s u b w a u system oxceed the
amount of the company’s annual prior claim, and aftor all accumulated de­
ductions (with Interest thereon) snail have been made up to the company,
the profits then remaining are to go to tho city until tho percentage of the
city s return upon its investment shall equal tho percentage of tho return
received by tho company; and thereafter excess profits will be divided
equally botween the city and tho company. The profits from tho elevated
system and connections, after all the company’s accumulations shall have
been made up, are to be divided equally between tho city and tho company
CONTROL.— In Deo. 1907 $33,912,500 of the $35,000,000 stock had’
been exchanged for 200% In 4)4% collateral trust bonds of the Interborough
Metropolitan Co. (which see above), secured by the stock exchanged.
^ ,DIV,IJ ? E N D ’~
1907 to 1910. 1911. 1912. 1913. 1914. 1915. 1916.
Since 1 9 0 6 - - - - - ..%
9 yearly.
10)4
15
12
20
20 5.5.5.In Oct. 1915 tho regular quarterly rate was increased to 5% (20% per
annum.) V. 100, p. 1348.
BONDS.— The "First and Ref. M tge.” of 1913 is limited to $300,000.­
000. of which $170,000,000 was underwritten early In 1913, as stated abovo.
in Doc. 1915 it was hoped that only $160,957,000 would bo needed to carry
out the plan, $128,658,000 thereof boing outstanding In Jan. 1916 when the
syndicate took an additional $17,000,000. Seo full data, V. 97. d . 450
V 210 U p981972; V ? 102} p } 4 3 7 . V * " * P‘ 119: V> 10° ’ P’ 2085’ O n e r iu g ',
The now bonds are “since N ov. 1 1913 a first lien on all leasehold and
other rights of the company in (a) tho existing subways and elovated lines
(Including power houses, sub-stations, equipment, real estate and other
property of an estimated aggregate value of about $40,000,000. owned
directly by the Interborough Co..subject to the city’s rights undor the lease)
and (6) In the new subway and elevated line extensions and in the author­
ized additional tracks on the present elevated lines. The existing subway
lines cost about S66.500.000 (exclusive of the power houses, sub-stations
and equipment above mentioned, which cost about $36,450,000 additional);
tho estimated total cost of the new subways Is $123,000,000; of the equip­
ment for the Initial operation or the now subways, $22,000,000, and or the
elevated lino additions and extensions, $27,696,050.
Cum. sink, fund of not less than 1% yearly will begin not later than
July 1918. Bonds may be drawn for sinking fund at 110, or bought In tho
market at a lower price. By tho operation of tho sinking fund the wholo
Issue will bo amortized during the term of tho lease
In caso tho city shall exercise its right o f re-capturoof any of the now lines,
after 10 years from commencement of operation, tho moneys so payable
will retire all outst’g bonds Issued for constructing and equipping same.
GENERAL FINANCES.— To Jan. 1 1916 none o f tho additional rapid
transit linos and facilities were yielding incomo, but on Jan. 15 most of tho
third-track on the Manhattan Elovated lino was placod In uso for ex­
press sorvico, greatly relieving the subway. Iu Fob. 1916 $4,623,000
Manhattan Ry. 2d M . 4s were offered for salo to rolmburso tho Inter­
borough for doublo-tracking, Ac. V. 102, p. 609, 712.

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R A P ID

T R A N S IT

C O M P A N Y

MAP
S H O W IN G P R E S E N T S U B W A Y A N D
E L E V A T E D L IN E S
A N D P R O P O SE D E X T E N S I O N S

S u b w ay S h o w n |

PRESENT
PROPOSED

E leva ted S h o w n j ................... profosei

RAILWAY STOCKS AND BONDS

6 8

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

International

&

Miles Date
Road Bonds

Par
Value

Great Northern—

Common stock, see text____________________
100
Preferred stock (p & d) non-cum (see text)______
100
First mortgage g o ld ..____________ ______________ z 1.106 1879
500 &c
Colorado Bridge bonds sinking fund.....................Fz
1880
1.000
Rec ctfs callable till N ov 1 ’ 16 at 100)4 theroaft par
1916 1,000 &c
1st Refunding M $50,000,000 gold red 110.........Cex 1,106 1911
$ £ fr
Three-year 5% secured notes redeemable 101 g.Ccx
1,000
1911
Equipment trust ctfs due $19,000 s-ann.................x
1908
1,000
do g due $50,000 s-a (V 97, p. 621, 729)..Eqx
1913
1.000
Receivers equip trust notes $39,000 semi-annually
1916
1,000
International Rys o f C ent Amer— Ordinary shares.
100
Preferred stock 5% and partlo see text__________
100
Guatemala Central 1st mortgage gold______. -Emz
74 1886
1,000
Internat Rys (1st M on 104 miles; 2d on bal.)__ x
1912
1,000
First mtg g red 102)4........................................ Em.z
1912 £ , fr. &c
Interoceanic Ry of Mex— 1st pref stk. 6 % non-cum ..
Stock
Second preferred stock 4% (V 87, p 1160) non-cum
Stock
... —
4% debenture stock sub) to call at par £1.150,000
Ordinary stock___________________________________
Stock
Debenture stock 7% “ B " sub) to call 120 cum___
£100
Second debenture stock red at 105 since 1911_____
£100
Mex E deb stook 450,000 guar red 105 since 1914
£100

Amount
Outstanding

See text
3.400.000
11,291.000
198.000
1.400.000
2.708.000
1 1 ,000,000
95,000
750.000
777,358
30.000.
10 .000.
2.500.000
3.500.000
£ 1 ,000,000
£1,400,000
£ 1 ,000,000
£1,150,000
£1,700,000
£469,459
£1,300,000
£400,000

Rate
%

[Vol. 102

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

Jan 2 1913 4%
N Nov 1 1919
N May 1 1920
N M ay 1 1917
A Aug 11941
A Aug 11914
O T o Oct 1918
A Aug ’ 16-Aug ’23
J Jan 1 1926

Equitable Tr Co, N Y
Office, 165 B'way. N Y
Guaranty Trust Co, N Y
Aug 1914 coup not paid
Aug 1914 coup not paid
Guaranty Trust C o, N Y
Illalr & C o. N Y
First Tr & Sav Bk, Chic

Aug 15*141
6 g A & O Apr 1 1916
2 to 5 J & J Jan 1 1972
M & N May 1 1972
5f
Dec 19 1913 4%
4 In 1913
Nov 141912 2%
M & S 15 Sept 15 1950

Office, 17 Battery PI. NY
do
do
EmplreTrCo.NY.Lon. &o
London
do
do
See text

6g
6

i*

88
000

M
M
M
F
F
A
F
J

&
&
&
&
*
&
&
&

000

b

’ 1 1 - '1 2 Sept 15 1950
M & N30 Nov 30 1950
J & D 15 Jan 1 1984

London
See text
See text

Incorporated In New Jersey June 8 1904 as Guatemala R y., name being
changed In April 1912 and Guatemala Central R R . (V. 79, p. 902, 903)
taken over. Has long concessions, that In Guatemala giving the Govern­
ment the right, after Jan. 2003, to purchase the lines at an arbitrated price.
Under the 99-year concession In Salvador, the railways In 2007 are to be­
come the property of the Govt, without Indemnity, with the right to pur­
chase after June 1978 at a price to be fixed by arbitration. Subsidy In
Income from operation.....................$18,358,449 $18,531,393 $17,120,248 Guatemala on some lines $7,320 per kilometer; on'other lines, $3,200 per k.
Non-operating Income_____________
623,631
612,853
487,490 In Salvador, $7,000 gold per kilometer, payable monthly from certain Im­
port and export duties. Has traffic agreement with United Fruit Co. by
Gross Income..................................... $18,982,080 $19,144,246 $17,607,738 which products of Fruit Company will be carried In territory served.
Total deductions................................$10,913,596 $11,119,666 $11,070,669
Stock authorized, as increased from $7,500,000 In April 1912, $30,000,000
D lvldends................................... (20 %) 7,000,000(15) 5250.000(12)4200.000 oommon and $10,000,000 5% pref.: par $100. Pref. Is entitled to share
equally In all dividends paid In any year after 5% has been paid on both
S u rp lu s.............................................$1,068,484 $2,774,580 $2,337,069
stocks. V. 95, p.544. First quar. dlv. on pref., 1 H % , paid Aug. 16 1912;
15. 1 X % : 1913. 5% (1W % & .-F.); 1914, Fob., M ay and Aug. 15.
No. Passengers Carried and Gross Oper. Revenues (in Millions'I, June 30 Yrs. Nov.
% ‘. 1915
none since to June 1916.
1905
1906 1907 1908 1909 1910 1911 1912 19131 K
1914
Passengers.. 339 395 449 483 514 562 578 607 634 651 647
BONDS.—For 60-year gold 5s of 1912 (£4.500.000 auth. Issue, which
G ro ss--------- $16
$19 $22 $24 $26 $28 $29 $31 $32 $33 $33
may be Increased to £6,000,000) see V. 94. p. 1449; V. 96. p. 1488.
The $3,500,000 bonds issued by the International Rys. covoring all lines
DIRECTORS.— August Belmont (Chairman). W . Leon Pepperman,
a second lien bear interest at 2% the first year, 3% tho 2d year. 4% the
Guy E. Tripp, A. D . Jullliard, A. J. Hemphill, Cornelius Vanderbilt, Ed­ as
ward J. Berwlnd, H. M . Fisher, Theodore P. Shonts, F. de O. Sullivan, 3d year and 5% thereafter. Balance sheet, V. 95, p. 544.
Edwin S. Marston, Daniel G. Reid and E. E. Starbard, Now York; T . De
EARNINGS.— Report for cal. year 1915, in V. 102, p. 2163, showed
W itt Cuyler, Philadelphia: Thomas Cochran. Pres., T . P. Shonts; V .-P ., Gross, $2,203,938; not, after taxes, $966,439; other incomo, $46,701; hit.,
Frank Hedley, David W. Ross; Sec., II. M . Fisher; Treas., John II. Camp­ discounts, &c.. $596,471; bal., sur., $416,669.
bell. Office, 165 B ’way, N . Y .— (V. 102, p. 437,1060,1540, 1811,2254.)
OFFICERS.— Minor C. Keith, New York. President. Pres. Northorn
INTERNATIONAL & OREAT NORTHERN R Y .— (See Map Missouri Rys. Co. o f Costa Rica, VIce-Pres. United Fruit Co.; Henry M . Keith,
Pacific.)— Total system July 1915, 1,159 miles, viz.:
N . Y ., Vico-Pres.; Edward S. Hyde. Sec. & Troas. N . Y . office. 17 Bat­
Lines owned—
Miles.
Lines owned (concl.)—
Miles. tery Place.— (V. 100, p. 2082. 2163.)
Long View Jet., T ex., to Houston 232 Magnolia Park Terminal________ 10
INTEROCEANIC RY. OF MEXICO. LTD.— Vera Cruz to Mexico City.
Palestine to Laredo____________ 413 Sundry branches_______________ 129 Mex., 338 miles; Los Reyes to Puente do Ixtla, 123 miles; Los Arcos to
Spring to Ft. Worth, T.&P.Conn.272
Joint Trackage—
Miles. Cuautla, 102 m.; 3 branches, 30 m.; Mexican Eastern Ry. (V. 73, p. 1263)
Houston to East Columbia breh. 60 Galv. Houston & Henderson___ 49
12-1 miles; leases Mex. Southern R y., 313 miles (see below); total, 1,031 m.
end Feb. 1982, after which road passes to State at a valuation.
ORGANIZATION.— Incorporated In Texas on Aug. 10 1911 and Concessions
On Jan. 1 1910 took over under lease the Mexican Southern from
succeeded the Int. & Great Nor. RR. foreclosed Juno 13 1911, per plan in Jan.
1910
for
the term of Its concessions, the rental providing 4% dlvs. and
V. 92, p. 1310. The I. & G. N. Holding Corporation was Incorporated in sinking fund on
the £875,000 debenture stook and any further Issues up to
Virginia in N ov. 1911 with $5,500,000 capital stock, and owns the common £121,720, and divs.
payable half-yearly on the £1,000.000 common stook
stock o f the railway. Seo V. 93, p. 1386; V. 95, p. 176.
ranging
from
3
Vi%
In 1910 to 5H % In 1917 and 5)4% thereafter, and also a
The cash required by plan ($15,340,000) was raised as follows; (a) by sale
sinking fund from Jan. 1 1918 sufficient to redeem tho ordinary stock
to bankers o f $11,000,000 3-year 5% notes due Aug. 1 1914 (prin. and int. yearly
at expiration of concessions June 8 1990. Nat. Rys. of Mex. will assume
on which aro now in default), secured by deposit o f $13,750,000 1st ref. M . lease
from Feb. 13 1982. V. 89. p. 225, 286. 1223. 1542.
bonds, o f which $12,150,000 was deposited Dy the new co. and $1,600,000
Nat. Rys. of Mexico (which see) owns £1,038,450 of the 2d debentures,
by the syndicate; and (ft) by the sale to a syndicate o f $1,600,000 1 st ref. £1,310,500
and £244.800 pref. stock. About Aug. 15 1914 the
M . bonds, $3,400,000 pref. stock and $2,500,000 com. stock. V. 92,p .1310. Mex. Govt, ordinary
took possession of the road and leasod lines. V. 100, p. 55.
Receivership.— On Aug. 111914 James A. Baker, o f Houston, and Cecil A.
The debon. stockholders in 1914 approved a plan (V.99
Lyon, o f Sherman, Tex., wero appointed receivers, both the prin. and Int. p. SECURITIES.—
48. 674) under which (1) tho Installments of interest payable on
o f the $11,000,000 3-year notes being in default. V. 99, p. 467, 406, 342.
tho 4% deb. stock Sopt. 15 1914 and March 15 1915 and on tho 4)4% 2d
In April 1916 there were issued $1,400,000 6 % 1-year receivers’ certifi­ dob. stock M ay 30 and N ov. 30 1914 are to be paid In 6 % deferred warrants;
cates In connection with the payment o f $700,000 receivers’ certificates duo (2) the installments of rent payable under leaso, (a) to Mexican Eastern Ry.
M ay 1, and for improvements, &c. V. 102, p. 1623; V. 100, p. 1510, 1592. on Juno 7 and Dec. 7 1914, and (6) to Moxfcan Southern Ry. June 30,
Foreclosure salo postponed indefinitely. V. 100, p. 2009, 1752.
July 28 and Dec. 31 1914 and Jan. 28 and April 27 1915 aro to bo satisfied
Protective Committee for Gold Notes.— Alexander J. Hemphill, Chairman; by 5% ccrtlfs. of Indebtedness, all to bo redeemable from the earnings of the
Wm. O. Cox, Secretary; Guaranty Trust Co.. N. Y ., depositary. 90% has company or of the respective leased linos from May 30 1914 to May 29 1915.
On June 29 1915 dob. stockholders agreed to an extension of tho moratorium
been deposited. V. 99. p. 342, 406 , 467, 538, 894, 1300, 1451.
for 2 years to M ay 29 1917 on the same terms. V. 101, p. 130. Earnings
STOOK.— New common stock, $6,500,000 (subject to reduction as above o f Mex. East. R y. for 12 mos. ending June 30 1914 were gross, £820,201:
net. £323,976; net fn sterling. £23,126.
stated). Of the common stock $1,422,000 was Issued June30 1913, the re
Owing to the disturbed conditions in Mexico, the holders of the perpetual
paining $5,078,000 being held for exchange for a like amount of conditional
Interim certiflc’s, If, as and when issued, under agreement dated N ov. 7 1911. debenture stock and second debentures on Jan. 7 1915 authorized (a) the
deferment until 1917 of the payment of the interest duo in 1915 and 1916
D IVIDEN DS.— First dlv. on pref. stock, 1% . Aug. I 1912 Jan. 2 1913
and the Issuance therefor of certificates bearing intorest at 6 % and 4 )4 % ,
4 % . making 5% for year ending June 30 1913. V. 95, p. 111.
respectively, due on or before Jan. 1 1917 and April 1 1917, respectively;
BONDS.— Of the new 1st ref. M . 30-yr. 5s ($50,000,000 auth.). $12,150,­ (b) tho omission of the sinking fund for 2 d dob. In 1915 and 1916. V. 100.
000 have been pledged as security for the 5% notes due Aug. 1 1914 and $1,­ p. 229.
DIVIDENDS on 1st pref., 4)4% 1908 and 1909, 5% 1910 and 1911
600,000 sold for cash to the syndicate and by It deposited as further security
for said notes (see above); $11,422,000 are reserved to refund underlying 5% each (M . & N .). In 1912, N ov.. 5% : 1913. D ec.. 4% . On 2d prof.,
1%
1909; N ov. 1910, 4% ; Nov. 1911. 4% ; N ov. 1912, 2% ; 1913, none.
bonds and $23,720,000 are reserved, under restrictions, for additional equip­
ment, additions, extensions and Improvements. Compare V. 94, p. 350:
REPO RT.— For 1912-13 in V. 97, p. 1895. V . 100. p. 55.
V. 96, p. 653; V. 99, p. 269. Tho secured notes through their collateral
Av. Miles.
Gross.
Net.
Net in £.
cover the entire property at (Including underlying bonds) about $20,500 1913-14.................
820 (M ex.)$9,147,842 (Mex.)$2,735,572 £176,903
per milo. V. 94. p. 350. The May 1 1916 Interest on 1st M . 6s of 1879 1912-13.................1.031
(M ex.)9.121.389
(Mex.)3.255.362 322.720
was paid o ff when duo M ay 1 1916.
Total net Inc. in 1913-14, £181,393; chges. & Int. on dob. stk., 214,827;
In Aug. 1913 $1,000,000 5% equip, bonds were sold. V. 97, p. 521,729. paid
to Vera Cruz Terminal Co., Ltd.. £20,880, to niako up deficiency In
EARNINGS.— 10 mos., f 1915-16----- Gross, $7,893,571; net, $1,801,283 deb. int. and working expenses; bal., dof.. £54,314. N . Y . offlco, 25 Broad
July 1 to April 30.
11914-15___ Gross, 7,718,577; net, 1,072,294 St.— (V. 99, p. 674; T. 100, p. 55; V. 101, p. 130.)
JACKSONVILLE TERMINAL RY.— Owns union passenger depots.
REPO RT for year ending June 30 1915 in V. 101. p. 1088.
5 locomotives, &o., at Jacksonville, Fla., Including 31.16 miles of traok
■New Basis-Old Basisused by Atl. Coast Line R R ., Seaboard Air Line, Florida East Coast
1914-15.
1913-14.
.1913-14.
1912-13.
Gross earnings..............$9,083,626 $9,963,407 $9,941,374 $11,260,565 Ry., Southern R y. and Georgia Sou. & Florida R y.. which own entire
Not for interest.............
264,327
877,034
874,967
1,597,370 stock ($200,000). Tho Atl. Coast Line, Scab. Air Lino and Fla. East Coast
Interest on funded d e b t..
842,482
1,307,730
1,307.730
1,261,717 each guarantee ) f and the South. Ry. and Ga. So. & Fla. each )4 of tho Int
Dividends (4 % )________
______
...........
136,000 under the rentals and meet expenses on whoelago basis, tho Atl. Coast
Other interest &m lscell._
543,242
18,200
16.133
12,135 Line, Seaboard Air Lino and Florida East Coast R y. guaranteeing by en­
dorsement tho prin. and Int. of above bonds. Loans and bills payable out­
Balance, sur. or d e f..d e f.$ l,121,397def.$448,896dof.$448,896sur.$187,518 standing April 30 1916, $203,852.— (V. 71, p. 135.)
Directors.— Frank J. Gould (Chairman), New York; R. Lancaster Wil­
liams, Baltimore: Thomas J Freeman, New Orleans; Fred. W. Cook, San
Antonio; A .G . Whittington, Jesse II. Jones. Walter Kyle Morrow and A. R.
Howard, Houston; KIngdon Gould, New York. Pres., Thos. J. Freeman: Trust Co., as trustee, securing certain 30-yoar 5% debenture stock or
1st V .-P ., G. H. Taylor; 2d V .-P .. A. G. Whittington; Sec., A. R.HIoward. bonds of the company. Tho company is authorized to build a railway
Ofrice. Houston, Tex.— (V. 101, p. 370, 1014, 1088; V. 102, p. 975, 1625.) from near Lako Abftibl to tho mouth of tho Saguonay River. R . F. Ormsby,
Asst. Secretary o f tho Canadian Northorn R y., Is Secretary of tho company.
INTERNATIONAL R A ILW A Y S OF CENTRAL AMERICA.— Own*
588 miles o f 3-ft. gauge railway.
JAMESTOWN FRANKLIN & CLEARFIELD R R .— See N . Y . O. R R .
REPO RT.— Report for year ending June 30 1915, V. 101. p. 841 ,918,94l’
Year ending June 30—
1914-15.
1913-14.
1912-13.
Gross operating revenue.................... $33,433,743 $33,515,395 $32,497,871
Operating oxpenses..............................$12,941,314 $12,902,053 $13,260,743
T axes..................................................... 2,133,980
2.081.949
2.116.880




J une . 1910. |




RAILWAY STOCKS AND BONDS

69

70

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
I F o r a b b rev ia tio n s, A c . , s e e n o te s o n fi r s t p a g e]

M ile s
R oad

D a te
B onds

Par
V a lu e

A m ount
O u tsta n d in g

R a te

%

W h en
P a y a b le

[Vol. 102.
L a s t D iv id e n d
a n d M a tu rity

P la c e s W h e r e In te r e s t a n d
D iv id e n d s a r e P a y a b le

Iowa Central— See Minneapolis & St Louis
Jacksonville Term— 1st M gold gu $500,000--Mp.xo*
31 1894
Guaranty Trust Co, N Y
$1,000
J & J July 1 1939
$500,000
5 g
Jamestown Franklin & Clearfield— See New York Cent’l RR
Jefferson— 1st & 2d Ms ext In ’87 & ’89 (H’dale Br) .. o
300.000 4M & 6 J & J July '27-Jan ’29 Fidelity Trust Co. Phila
8 1867
1.000
Erie R R . New York
1st M g ext 1908 red 105 gu p & 1........................ FP.o*
1,000 2,800.000
& O Apr 11919
37 1889
£
K A
Merc Trust C o. St Louis
M & S Sept 1 1925
724.000
Jonesboro Lake City & Eastern— 1st M $1,000,000 -x
5g
1.000
96 1905
Phil Tr, S Dep & Ins Co
Joplin Union Sta— 1st M gu J’tly red 105 aft 5 yrsxo'
1910
1.000
650.000
4H g M & N May 1 1940
Junction (Philadelphia)— See Pennsylvania RR
Fidelity Trust Co. Phila
A & O Apr 11948
500.000
Kanawha B’ ge &T Co— 1st M g redl05 beg’ 16 sf FP.x
1.000
1908
Quar. Mar31 T 6 1 H % J. P. Morgan & Co. N Y
Kanawha & Mich— Stock $10,000,000...........................
100 9.000.
5000
ln5&
*l§16
Central Trust Co, N Y
A & O Apr 11990
1,000 2.469.000
1st M $15,000 per mile g guar p & 1_______ Ce.xo*
164 1890
e
J P Morgan & Co, N Y
6 g J & J July 1 1927
Second mtge $2,500,000 auth gold red p a r .. Qxo*
1.000 2.500.000
1907
Sup Sav & Tr Co. Cleve
F & A 15 Aug 1916
5
46,000
Equipment bonds due $23,000 semi-annually____ x
1,000
1906
Kan N B, Charles’n.W V
M & N May 1 1917
5
36.375
do
do
..........................................................x
1909
840.000
1912
1,000
do
g $60,000 s-aredpar (V .94, p.1695) U n -.x
4H g J & J July'16-July ’22 Union Trust C o, N Y
do
do
1.080.000
do
g $60,000 s-a red par (V 99, p 342)--U n
1914
4)4 g J & J July'16-July '24
Scranton (Pa) Trust Co
J & J July 1 1955
899.000
6 g
Kanawha & West Va— First M $5,000,000 g t e x t ..c ‘
l'.OOO
40 1905
Car trust as of June 1 9 1 6 ________________________
123.000
Kansas City Belt— See Kan City Terminal Ry
April 1915 coup not paid
A & O Oot l 1925
Kansas City Clinton & Spring— 1st M g guar.-NB.xo
1,000 3.274.000
162 1885
Jan 1 1946
See text
Kansas City Connecting— 1st M auth ( ? ) _______
1916
Kansas City Fort Scott & Memphis Ry—
Bankers Trust Co, N Y
A &
Ref M $60,000,000 gold guar p & 1 end.Ba.xo&r 1,085 1901 1.000 &c 25.835.000
Oot 1 1936
Old Colony Tr Co, Boston
Kansas & Missouri R R first mortgage____________ xo
i S F & Aug 1 1922
390.000
1,000
26 1882
Bank Trust. N Y ; & Boat
May 1 1928
M &
Kansas City Ft Scott & Memphis RR cons MNB.xo*
715 1888
6
1,000 13.736.000
Old Colony Tr Co, Boston
A &
Current River RR 1st M $20,000 p m guar___NBx
Oot 1 1927
5
1,000 1.606.000
82 1887
Bank Tr Co. N Y; & Bost
A &
Oot 1 1929
Kans Cy & M Ry & Bdge 1st M g 8 f drawn at HOxo*
1,000 b3.000.000
3 1889
Old Colony Trust Co
Kans Cy Mem & BIrm gen M $4,500,000 our.-OB.xo
500 &o
i 8 M & Mch 1 1934
3,323,390
285 1894
do
do
Income non-cumulatlve___________________ OB.xo
Sept, Moh 1 1934
293,780
500 &c
285 1894
5
do
do
Mch 1 1934
M &
do
stamped fixed Interest redeemable text.x
600 &o
5.629,500
285 1894
5
Bankers Trust Co
Oot 1 1922
Birm Belt 1st M gold red 102 >4 guar p & I end.OBx
1,000
39 1902
1 .000.
0004 g A &
July 1915 coup not paid
J &
Jan 1 1947
Kan City & Memphis— Ark Okl & W 1st M g.Usmx
30 1907
300.000
1,000
N ov 1914 coup not paid
May 1 1961
K C & M mtge g $18,000 p m red 107 H sf..M St.xo*
1.000
56 1911
Bg M &
608.000
K C Memphis Ry & Bridge Co— Seo Fort Scott & Mem phis
Kansas City Mexico & Orient— Stock see text-----100 20 ,000.000
Int. paid; prin. over-due.
Two-year gold notes $6,000,000 red par_____ Col.c
6 g A & O 30 Apr 30 1916
5.640,200
1914
b Includes $415,000 held alive In sinking funds

4

JEFFERSON RR.— Owns Lanesboro, Pa., to Carbondale, Pa., 37 miles,
double track; branch, West Hawley, Pa., to Honesdale, P a „ 8 miles. Leased
In perpetuity for $154,940 per annum to Erie R R ., owner of ($2,095,­
950) stook. Used by D & H .to reaoh Carbondale.— (V.87. p. 1479.)
JONESBORO LAKE CITY & EASTERN RR.— Owns Jonesboro to Barleld, Ark., 63.16 miles Osceola Jet. to Osceola, Ark., 14.39 m.; Midway to
Luxora 1.4 m.; Midway to Meares Ldg., 0.5 m.; Ross to Wilson. 16.95 m.
(former Wilson Northern R y.); total, 96.40 miles. Stock, $600,000.
Bonds, $550,000 outstanding. Bank o f Commerce & Trust C o., Memphis,
trustee. Loans and bills payable June 30 1915, $223,566. For 1914-15,
ross, $284,821; net, $67,989; int., taxes, &c., $90,297; bal., dof., $22,308.
n 1913-14, gross, $285,510; net, $25,525. Pres., R . Lee Wilson. Office,
Jonesboro, Ark.— (V. 94, p. 826; V. 98, p. 1844.)
JOPLIN UNION DEPOT CO.— Owns union freight and passenger station
on 26 acres at Joplin, Mo., completed In 1911. used by the AtchlsonTopeka
& Santa Fe, Kansas City Southern, Missouri Kansas & Texas and Missouri
& North Arkansas, which Jointly own the $40,000 stook and Jointly
and severally guarantee the bonds, prln. and Int, Of tho bonds ($750,000
auth,), $650,000 sold. Total stook auth.. $750.000.— (V. 90. p. 502, 627.)
K ANAW HA BRIDOE & TERMINAL CO.— Owns bridge across the Great
Kanawha River near Charleston, W . Va., used for railway, street railway
and general traffic. Stock, $400,000, owned by Ches. & Ohio, which op ­
erates property. Bonds, see table and V. 91, p. 1629. Year 1914-15,
gross, $39,490; net Inc., $27,573; int, & taxes, $29,301; bal., def., $1,728.
K ANAW HA & MICHIGAN R Y.— (S ee Map Toledo A Ohio Central.)—
Owns Corning, O., to Gauley on Ches. & Ohio, 176 miles, less 18 miles.
Pomeroy to Galllpolls, and 1 mile, Athens to Armltage, where Hocking
Valley R y. traoks are used. Also owns branch of 11 miles leased to Toledo
& Ohio Central and Zanesville & Western R y. companies.
HISTORY, &o.— Reorg. In April 1890 of K. & O. Ry. foreclosed (see
V. 50, p. 451,483). Toledo & Ohio Central R y. (V. 100, p. 1251) acquired
In 1915 $8,947,800 o f tho $9,000,000 capital stock. V. 99, p. 1052; V. 98,
p, 912, 1537; V. 96, p. 63.
D IV ID E N D S.—
1911. 1912. 1913. 1914. 1915.
1916.
5
6
5
5
IK , . . . ,
...
Per cent...................... 6)4
EARN IN G S.— 4 m as.,(1916............Gross, $1,172,530; not, $412,822
Jan. 1 to April 30. \1915............Gross,
825,193: net,
84,592
REPO RT.— Report for yoar end. Dec. 31 1915, see V. 102, p. 1621.
Year—
Gross.
Net.
Other Inc. Int., A c. Dies.(5% ) Balance.
1915___ $3,139,104 $931,677 $222,749 $349,349 $450,000 $355,077
1914___ 2,944,184 684,260
293,051
328.550
450,000 198.760
Pres., A. H. Sm ith— V. 101, p. 47, 1973, 2071; V. 102, p. 602. 609,
1436, 1621.)
K AN AW HA & WEST VIRGINIA RR.— See Issue Feb. 1914.
KANSAS CITY CLINTON & SPRINGFIELD R Y.— Owns from Olathe,
Kan., to Ash Grove, Mo., 154 miles; Raymore Jet. to Pleasant Hill, Mo..
8 m.; total, 162 miles. Stock, $1,775,400. Bonds were guar, by the Kan.
City Ft. Scott & Mem. R R . (old co .). Apr. 1914 coupons were paid In
M ay 1914. The April 1915 coupons were not paid when due. In Feb. 1915
$2,111,000 bonds had been deposited with bondholders’ committee. See
K . O. Ft. Scott & Memphis R y. bolow. V. 98, p. 1071, 1459; V. 100, p.
1348. Year end. June 30 1914, gross, $381,775; net, $89,415; other income,
$4,160; Int., taxes, &c., $205,598; bal., dof., $112,022. In 1914-15, gross,
$382,313; net, $88,305.— (V. 98, p. 1459; V. 100, p. 901,1348.)
KANSAS C IT Y CONNEC TINQ R R .— On Dec. 20 1915 the M o. R R .
Commission authorized this new company to Issue prior to Jan. 1 1917
$1,000,000 cap. stock and $1,000,000 1st M . 5s.
KANSAS C IT Y FORT SCO TT & MEMPHIS R Y .— Operates Kansas
City, M o., to Memphis, Tenn., and branches, 920 miles. Also has a
controlling Interest In stock o f the Kansas City Memphis & Birm. R R .,
owning line from Memphis, Tenn,, to Birmingham, Ala., with branch, 290
miles, and of Kansas City & Memphis Ry, & Bridge Co., owning bridge
across Mississippi River at Memphis, 3 miles. Total, 1.213 miles.
ORGANIZATION.— V. 72. p. 1237. See V. 72, p. 438, 532, 675, 988.
The St. L. & San Fran. R R . owns the entire stock and leases the road, guar­
anteeing the bonds of 1901, prln. and Int., and 4% onpref. stock trust certs.
In view of the appointment o f receivers o f the St. Louis & San Francisco
R R ., a committee (E. V . R. Thayer, Chairman; Frank II. Damon, 50 State
St., Boston, Secretary; Old Colony Trust C o.. Boston, and Bankers Trust
C o., N . Y ., depositaries) requested deposits of the various Issues of bonds
of the system, Incl. Kansas City Clinton & Springfield and St. L. & S. F.
trust receipts for pref. stock. V. 96, p. 1556; V. 98, p. 1459; V. 100, p.901.
The plan of reorganization presented for the St. Louis & San Francisco In
Feb. 1916 (V. 102, p. 896) contemplates leaving undisturbed tho leaso and
outstanding bonds o f this system and also authorizes provision in tho now
Frisco mortgages to allow for improvements and additions, extensions, &c.,
of the Kansas City Fort Scott & Memphis R y. system and for equipment
and to deal with obligations o f that system, and for these purposes to issue
and renew bonds under any existing mortgage o f that system and to issuo
new bonds o f that company or o f tho New Company, secured on that sys­
tem, or any part thereof, In priority to the existing leaso o f that system
and to any lien o f the New Mortgages on that system, “ but the aggregate
prior mortgage Indebtedness on that system shall not at any tlmo oxceed
$75,000,000.
STOCK.—Common authorized. $45,000,000; outstanding, $16,660,000,
all owned by St. Louis & San Franoisco R R . See that co. and V. 72, p. 1238.
BONDS.— Of the ref. bonds o f 1901 ($60,000,000), $25,835,000 were out­
standing June 1916, $106,000 wero in treasury, $26,324,270 woro reserved
for exchange against the face amount o f underlying bonds and remaining
$7,734,730, as well as any bonds not used or required for refunding purposes,
will be reserved for issue for additional lines and extensions, at not exceeding
$22,500 per mile thereof. As to guaranty, seo “ organization,” above.
V . 75, p. 853. See V. 87. p. 414; V. 91, p. 38, 154; V. 92, p. 1311; V. 93
p. 45; V. 94, p. 279.
In 1912 the K. 0. Ft. Scott & Mem. Ry. had guaranteed the int. on all
except $293,780 of the $6,322,780 K. C. Mem. * Birm. Income bonds.
V. 74, p. 477, 577. As to K . C. Mem. R y. & Bridge, see V. 78, p. 15-19.
V . 99. p. 1597; V. 102 p. 800.
V

f




Birmingham Belt bonds are guaranteed, principal and Interest, Jointly by
Kansas City Memphis & Birm. and St. L. & San Fran. V. 75, p. 1147.
EARNING S.— For year ending June 30 1915, gross, $12,780,120; net.
$3,861,612; other income, $459,656: fixed charges, $3,613,259: pref. divs.
(4 % ), $600,000: bal., sur., $108,009. In 1913-14, gross, $13,681,840;
net. $3,145,895,— (V. 98, p. 1071, 1459; V . 102, p. 886 , 1436.)
KANSAS CITY & MEMPHIS R Y.— Rogers to Siloam Springs, Ark., 30
miles; Freeman to Monte Ne, 6 m.; Cave Spring to Fayottovillo, Ark., 20
m .; total, 56 miles. Projected to extend from Rogers, Ark., to Memphis,
Tenn., 294 milos. Incorp. in Arkansas Dec. 17 1910 and absorbed the
Ark. Okla. & West. R R . and Monte Ne R y. in April 1911. V. 92. p. 881,
1109: V .94 ,p . 207. $100,000 receiver’s certificates havo been authorized,
of which $80,000 (6 % 3-year, dated Jan. 1 1916), issued to M ay 31 1916.
V. 102. p . 800.
In July 1914 J. E . Felker o f Rogers, Ark., and O .O . Llsman o f Llttlo Rock
wero appointed receivers, the Int. on $300,000 bonds due July 1 1914 being In
default and there being a floating debt of abt. $90,000. V. 99, p. 269, 538.
Committee for Ark. Okla. A West. 1st 6s.— Francis X . Quinn, Chairman;
Byron A . Milner. Secretary; Real Estate Trust C o.. Phila., depositary.
Nearly all the bonds deposited. V. 99, p. 467, 816.
Bonds. See V. 92, p. 881, 1109.
Committee for 5s of 1911. See F. J. Llsman & C o., N . Y . Soe V . 92.
p. 881. 1109: V. 102. p. 800.
EARNINGS.— Year ending June 30 1915, gross, $74,219; oper. def.,
$5,089 In 1913-14, gross, $79,276; op. def.. $65,148; other income. $3,275;
Int., taxes. &c., $72,934: bal., def.. $134,807.
„
N . Y . office. 30 Broad St.— V . 99, p. 816, 969; V . 102, p. 800.
(THE) KANSAS CITY MEXICO & ORIENT R R .— Road Mileage.
—The road when completed will extend from Kansas City, Mo., to Topolobampo, Mex., 1,659 miles, with a cut-off from San Angelo, Tex., to Del Rio,
Mex., 160 miles, connecting there, as well as at Chihuahua, Mex., with
Mexican lines for Mexico City. In oper. June 30 1915, 963.33 miles, viz.:
Owned (incl. K . O. M . A O. Ry. of Texas, 477 m.. Securities Owned), Miles.
Wiohlta, Kan., to Alpine, Tex. (except trackage St. Louis & San
Francisco R R ., Foley to Ewing, Okla., 12.78 m iles_____________737.13
Marquez, Mex., to Tobalaopa_____________________________________ 86.77
Mlnaca to Sanchez, Mex. (74.28 m .); El Fuerte to Topolobampo,
62.23 miles)................................. ..........................................................136.51
Mochls, Mex., to Mochls Junction, Mex----------------- ------------------------- 2.92
ORGANIZATION.— Incorporated In Kansas on July 7 1914 as successor
to the Railway of the same name foreclosed per olan V. 98. p. 1244. 1845 .
V. 99, p. 119; V. 98, p . 1920. Application for receiver in April 1916.
V. 102, p. 1436.
Committee for First M . 4s (old Co.)— Lord Monson (Chairman); Harry
Hoffman, 37 Wall St., Sec.; Columbia Trust C o., N . Y ., and Glyn,
Mills, Currie & C o., London, depositaries. Of tho $21,409,000 In the
hands of the public, $19,545,000 had been deposited In Juno 1914. Chas.
II. Jones & Co., 20 Broad St., N . Y ., are fiscal assistants to the committee
In tho U. S. In Feb. 1916 it was thought the reorganization would be car­
ried through with possibly some slight change as to form o f now company.
V. 94, p. 767, 911, 1566; V. 97, p. 443; V. 98. p. 763, 1244, 1767.
Committee for 2-year 6 % Gold Notes.— Tho following committeo was
formed in 1916 to prepare a plan in which bondholders as well as noteholders
may participate, and in June 1916, a majority of tho notes having been
deposited, asked the Central Trust C o., as trusteo, to enforco tho right of
tho noteholders: Chairman James N . Wallaco and Harry Bronnor, New
York City; Jozach Z. Mlllor, Kansas City; Honry Sanderson, of O. D.
Barney & Co., of New York; William J. Gray, Detroit; Herbert F. Hall
and Clifford Histcd, of Kansas City, and C. M . Siglor, 54 Wall St., Now
York City, Secretary. Central Trust C o., N. Y ., and Commerco Trust
Co., Kansas City, M o., depositaries. Tho interest, duo April 30 1916,
on these $5,640,200 notes of 1914, maturing April 30 1916, was paid when
duo at tho Columbia Trust Co., N. Y., but the principal duo on April
30. remains unpaid. V. 102, p. 1436, 1896. 2160.
PLAN.— The Monson committee as o f Dec. 8 1915 presented a plan to
completo tho reorganization (seo V. 101, p. 2144: V. 102, p. 153, 713).
This plan, which in June 1916 was understood to be In abeyanco, provides
in substanco:
Interest to Jan. 1 1919 on $15,003,600 now 1st M . gold b on ds.. 1,700,000
Surplus for expense of issue or other contingencies......................
325,400
The plan provided for Interest out of capital until Jan. 1 1919, as tho con­
struction of the lino from Wichita to Kansas City would require 2 K years.
New Securities Contemplated—
Authorised.
Reserved.
Issued.
First mortgage 50-year gold bonds— $50,000,000 $34,996,400 $15,003,600
Pref. stock 5% non-cum. convertible. 35,000,600
7,726,667 27,273.333
Common stock..................................... 35,000,000
5,935,333 29,064,667
Terms of Exchange.— The holder o f each $1,000 1st M . 4% 50-year gold
bond of the old company was called upon to subscribe $600, and would have
received: (a) $600 1 st M . 50-year 5% gold bonds; (b) $1,000 5% non-cum.
conv. pref. stock (voting trust ctfs.); (c) $ 1,000 com. stock (vot. trust ctfs.).
EARNINGS.— 10 m os.,il915-16..G ross, $2,196,607; net, dof., $3,291
July 1 to April 30.
\1914-15--Gross, 2.020.140; net,
252,676
EARNINGS.— The gross earnings as audited follow (compare V. 102.
p. 153; V. 101,p.1711). Annual report, &c., in V. 101. p. 1711,1668.1886,
Years ending June 30—
1916.
1914.
Increase. Per Cent.
28.71
Total gross earnings................ $2,449,599 $1,903,157 $546,442
Earnings per m ile ..................
3,324
2.582
742
28.71
The net earnings for year 1914-15, It is stated, would have been $402,000,
had it not been for extraordinary improvements which reduced them to
$90,773, comparing, however, with a doficlt of $364,953 in year 1913-14.
OFFICERS.— Pres., Edward Dickinson; Treas., Townloy Culbertson
Aud., Neal S. Doran. Directors, V. 101, p. 1711. Offico, 10th St. and
Baltimore Avo.. Kansas City, M o.— (V. 102, p. 1249, 1436, 1896. 2166.)

June . 1916. J

R A IL R O A D C O M P A N IE S
[For abbreviations, &c., see notes on first page]

M iles Date
Road Bonds

Am ount
Outstanding

Par
Value

8100
1,000
8 1903
Kansas City & P acific— Sco Missouri Kansas & Texas R y be low.
Kansas City St Joseph & Council Bluffs— See Chicago Burlln gton & Quincy.
1897
500
Kansas City Shrevep & Gulf Term— 1 st M red 105 2
100
Kansas City Southern— Common stock $30,000,000-100
Preferrcd stock 4% non-cum $21,000,000-----------1900 1.000 &c
First mortgage S30.000.000 gold.................Ba.xc&r
1909 1.000 &c
Ref and lmpt M $21,000,000 gold red 105.xc*&r.N
1912
1,000
Eauip notes g ser D due $02,000 s-a red par..N x
Kansas City Term Ry— Stock auth $50,000,000---1910 1,000 &c
lst M red as a whole on or aft Jan 1 1930 at 105 & Int
1,000
1915
Secured notes $5,000,000 red 101---------------IC.xc
1915
Secured notes $2,000,000---------------------------- - - - - - 1916
1,000
Socurod gold notes $2,500,000 call 101------- CeC.c*
1,000
20 1886
IC C Belt 1st M to bedaid off July 1 1916— BB.xc
1,000
1905
Kansas City Viaduct & Term— 1st M g s f (text) c*&r
Kansas & Colorado Pacific— See Missouri Pae'.flc R y_£100
1911
Ken & Ind. Term RR— 1st M guar (see text) G.xc*&r
162
100
Keokuk & Dcs Moines— Preferred stock............. — "
100 &c
162 1878
First mortgage Interest guaranteed C R I & P ----- c*
Keokuk & Ham B ondholders Co— C onvlncdeb n-c
1869
1,000
Construction M _____________________________ --zc
1915
Secured notes callable any int date----------------- —
1891
T 665
Kewaunee Green Bay & Western— First mtgo— F.xc
Knoxville & Ohio— Sec Southern Ry.
•1904
1,000
La Crosse & S E Ry— 1st M $ 1 ,000,000 g red 105 -.z
Lackaw RR of N J—Stkauth $12,000,000 gu 4% dlv
Kansas City Outer Belt & Elec— Stock (half 4% prof)

KANSAS C ITY OUTER BELT & ELECTRIC R R .— Incorp. July 18
1902 in Kansas to construct a double-track belt lino connecting all lines
entering Kansas City, Kan., and Kansas City, M o., 8 miles; uncompleted
in 1915. V. 75, p. 184; V. 76, p. 331; V. 80. p. 871. On Oct. 31 1912
Thomas A. Bigger was appointed receiver. In N ov. 1912 $75,000 receiver’s
certificates were authorized, o f which $50,000 were issued. In Jan. 1916,
In connection with the reorganization o f tho K. O. Mexico & Orient Itlt.
(see above and V. 102, p. 153, 251), tho holders tot tho $1,044,000 bonds
deposited with tho tho Platten Committee wero offered on payment o f $400
nor bond securities of the new Orient Co. as follows: 1st 5s, $400; prof,
stock v. t. c., $1,300; com. stock v. t. c ., $1,333.
Bondholders’ commlttco (John W . Platten, Chairman; Calvert Brower,
Sec • U S. Mtgo. & Trust C o., depositary. Chas. II. Jonos & C o., 20
Broad St., N. Y ., .are fiscal assistants to the committee in tho U. S. In
Feb 1916 it was thought the reorganization would be carried through with
possibly some slight change as to form o f new co.— (V. 102. p. 153, 251,713.)
KANSAS CITY SHREVEPORT & GULF TERMINAL CO.— Ownsunion
depot at Shreveport, La , Including 1.16 miles of yard and terminal track.
Stock, $150,000, all owned by Kansas City Southern R y. Bonds, Pioneer
Trust Co., Kansas City, trustee. Year ending June 30 1915, gross, $29,453;
net. $8,319; int. & tax., $7,200; bal.. sur., $1,119. Office, Kan. City, Mo.
KANSAS CITY SOUTHERN RY.— (See M ap.)— Operates a line extendng from Kansas City, Mo., to Port Arthur, Tex., thence by its ship canal:
7 m., to deep water on Gulf of Mexico, with branches and extensive ter,
minals used by various roads entering Kansas City. Total mileage 837, viz.
Lines Owned—
M iles.
Lines Owned—
M iles.
Kansas City, Mo., to Belt Ju n e.. 12 Branches to Fort Smith, De
Quincy, La., etc____________ 43
Grand View, Mo., to Port Ar­
thur, Texas__________________ 765 Trackage— To Gr View Mo etc 16
Also owns entire $650,000 each of stock and bonds of Arkansas Western
R y., Waldron to Heavener, Ark., 32 miles, operated separately; also con­
trols I£. C. Shreve. & Gulf Terminal Co. V. 83, p. 38. 492.
ORGANIZATION.— A reorganization of Kan. C Pitts. & Gulf R R ., tore,closed In 1900 per plan in V. 69, p. 1012, 1062. V. 73, p. 1356; V. 74, p. 94.
V. 80, p. 1971; V. 81. p. 559: V. 84, p. 1366; V. 88 . p. 375.
On Fob. 21 1910 tho U. S. Supremo Court hold tho company liable to tho
Guardian Trust Co. of Kansas City, as trustee for $639,659 and interest
on loans made by tho Kansas City Suburban UR. and tho Port Arthur
Channel & Dock Co. in 1899 and 1900. V. 102, p. 976.
j
SECURITIES.— As to tho $21,000,000 ‘ ‘ref. and imp. bonds o f 1909,
seo V. 88. p. 1128. 1253, 1437; V. 89, p. 104; V. 90. p. 167: V. 92, p. 322,
395 . 401; 795; V. 95. p. 1472; V. 100. p. 1832; V. 101, d . 2144. Decision on
Kansas City Suburban Belt R y. notes, V. 97, p. 1663; V. 98, p. 1459.
DIVIDENDS — First div. on pref. stock, 4 % . paid July l 1907 out o f
earns, for 1906-07: Oct.. 1%: 1908 to Apr. 1916. 4% (Q.-J.).
LATEST EARNINGS.— f 1915-16--Gross, $8,731,713; not, $3,477,510
10 mos., July 1 to April 30.\1914-15--Gross, $8,411,796; not, $3,055,319
REPORT for 1914-15 at length was in V. 101, p. 1087, 1103.
-New Basis— -------- ----- — Old Basis1914-15.
1913-14.
1913-14.
1912-13.
Total gross receipts____$10,035,898 $10,970,403 $10,993,454 $10,706,309
~ __Pi---------fl J7Q fl')1 6,478,821
rt 01 n 391 6.910,321
AGIO 391 6,910,321
a *1 t er-r 6,747,157
Operating
exponsos-----4,000,081
4.083,133
Net earnings__________ 3,557,075
3,959,152
4,257,490
4,257,498
Total not incomo______ 3,727,994
4,127,134
567.857
567,857
Taxes ________________
574,316
465,339
1,765,743
1,765,743
Interast on bonds, &c__ 1,756,590
1.708,928
198,447
198,447
Miscellaneous-------------256,657
306.661
840.000
840,000
D lv. on pref. stock (4% )
840,000
840.000
$300,431
$885,449
$885,449
$800,206
Balance, surplus.........
DIRECTORS.— Chairman, L. F. Loree; Pres., J. A. Edson, Kansas
City, Mo.; Hermann Siclcken, J. A. Blair, W. T. Rosen, Andrew J. Miller.
W. G. Street, W. H. Williams, Arthur Turnbull. Samuel McRoberts, and
E. R Bacon of New York; John J. Mitchell of Chicago; S. W. Fordyco of
St. Louis; Edward F. Swinney, Kansas City, Mo.; Secretary Is G. O. Hand.
Offico, 25 Broad St., N. Y .— (V. 101, p. 1087. 1103,2144; V. 102, p.976.)
KANSAS C ITY TERMINAL R Y .— Has built a passenger depot and
freight and passenger terminals at Kansas City, M o., with approaches,
to be controlled by 12 proprietary cos., viz.: Chic. R. I. & P tt., Atch. Top.
& Santa Fe, Chic. Mllw. & St. Paul, Chic. & Alton, St. Louis & San Fran..
Union Pacific, Wabash, Chic. Burl. & Quincy, Mo. Pac Missouri Kan. &
Tex., Kan. City Southern and Chic. Gt. Western, which will pay equally
any excess of fixed charges. V. 89, p. 1671. lias 142 miles now built
of main and industrial railroad tracks, 4 local freight stations, passenger,
freight and switching yards, &c., and union passenger station, the last-named
being opened Nov. 1 1914. V. 89, p. 068, 163 ; V. 90, p. 627, 698; V. 91.
p. 1380; V. 96. p. 135; V. 98. p. 1214; V. 99. p. 1130; V. 101, p. 1628.
Of tho 1st 4s ($50,000,000 auth.), $2,500,000 are reserved to retire Kansas
City Bolt bonds (to bo paid off July 1 1916, V. 102, p. 2166); $12,500,000
aro pledged to secure notes and $4,531,000 ara reserved for additions and
impts. V. 90, p. 559, 627; V. 91, p. 1386; V. 92, p. 395; V. 93, p. 164;
V. 96, p. 135, 202; V. 98, p. 1244, 1316; V. 100, P- 733. In April 1916
$1,500,000 woro sold. V. 102, p. 1540.
,,
,,
In Nov. 1915 $5,000,000 3-ycar 4'A% notes were sold (secured by doposit
of $6,607,000 1 st 4s). callable at 101 and int. V. 101, p. 1713. On Nov. 30
1915 Issued $2,000,000 2-ycar 5M % notes secured by $2,583,000 1st M . 4s.
also in Juno 1916 $2,500,000 5-year 4 H % notes secured by $3,125,000
1st M . 4s toward retirement of $2,500,000 Kansas City Bolt R y. 1st 6s,
duo July l 1910. V. 102, p. 2254.
l’ res., W m. M . Corbett; Sec., S. W. M ooro; Treas., E. F. Swinnoy.—
(V. 101, P- 1628, 1713; V. 102, p. 1540, 2166. 2254.)
KANSAS CITY VIADUCT & TERMINAL RY.— Company owns an
unoperated elevated railway and highway viaduct from Blull and 6th Sts.,
Kansas City, M o., to Minnesota Ave. and 4th St., Kansas City, Kan.,
with branch viaduct to interlying railroad and manufacturing districts.
Main structure completed 1907,1.6 miles. V .8 2 ,p . 160: V. 84, p. 271,931.
In M ay 1916 negotiations for a sale of tho property to Kansas City, M o.,
for $2,000,000 or $2,500,000 were said to have been started. V. 102, p.1987.




71

RAILWAY STOCKS AND BONDS
Rale

%

$5,000,000 v. t. c.
4g
1.288,000
150.000
30.000.
2 1 .000.
30.000.
18.000.
1.054.000
1 .200.000
33.094.000
5.000.
2 .000.
2.500.000
See text.
3.302.000

A

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

& O Apr 1 1953

Oct 1911 coup last paid

F & A Aug 1 1927
Treas Oil, Kan City, Mo
000
4
In 1915 Q—J Apr 15 19101% Checks mailed
000
New York Trust Co, N Y
000 3 g A & O Apr 11950
do
do
000 5 g J & J Apr 11950
5 g J & D To Dec 15 1924 Blair & Co, New York
J
M
M
4H g J
J
0
4H J

4g
000
4X

000
5X

4H g
£1,291,000
$1,524,600 See text
2.750.000
5
1 ,000,000 Up to2J4
1 ,000,000 See text.
6
400.000
5
408.000
300.000
10.750.000

When
Payable

5g
4

& J Uan 1 1960
& N Nov 15 1918
& N Nov 30 1917
& J July 1 1921
& J July 1 1916
& J Sept 1 1934

J & J Jan 1 1961
See text Apr 1 1915 2 X
A & O Oct 1 1923
30 years
A & O Apr 11899
A & O 1945
J & D June 11921
A

N Y Boston & Chicago
do
do
New York and Chicago
Office 50 State St. Bost
See text
N Y , J P M & Co, & Son
Office, 14 Wall St., N Y
First Nat Bank. N Y
55 William St, As earned
Office. 40 Wall St. N Y

La Crosse, Wlso
& O Oct 1 1944
Q—J July 1 1910 1% Del Lack & Western R fl

S T O C K . — Stock outstanding, 53.447,700 (par $100).— (V. 94, p. 410.)
BONDS.— Equitable T r.C o., N . Y ., and Fidelity Tr. C o., Kansas City,
trustees. July 1909 to Jan. 1911 coupons funded into cumulative income
bonds. V. 90, p. 1101; V. 92, p. 1564.
Protective Committee.— In Oct. 1915 over 75% of the 1st 4H s and income
bonds had been deposited with a committee under an extension running
to Jan. 1 1918 (Richard O. Storey o f Boston, Chairman; Equitable Trust
Co. of N. Y ., depositary: Wm. G. Dooley, 25 Broad St., Sec.). V. 92.
p. 187; V. 90, p. 285; V. 96. p. 1772; V. 101. p. 527.
Pres., J. W . Reinhart; Treas., H. S. Corwin; Sec., Howard Ross.— (Y.
102, p. 1987.)
K E N TU C K Y & INDIANA TERM INAL R R .— Owns 2-track steel
bridge over Ohio River at Louisville and 16.44 miles main track and
43.25 miles yard tracks and sidings in and about Louisville. Sou. R y., Balti­
more & Ohio and Chic. Ind. & Loulsv. own the $75,000 capital stock, and
under now lease for 99 years from June 1 1910 pay monthly, in proportion
to cars handled, any deficit In operations, rentals, taxes and Interest.
Bonds, £2,000,000 auth. issue, of which £1,291,000, guar, by the three
proprietary cos., were issued to retire the $2,136,600 old bonds and for new
construction; remainder reserved for future purposes. V. 92, p. 187; V. 91.
p. 589, 214, 38; V. 92, p. 261. 1032; V. 93. p. 469; V. 95. p. 1403; V. 102,
p. 437.
Pros., H. W . Miller, Atlanta. Ga.; Sec.. C. R. Arnold, Louisville; Treas..
H. D . Ormsby.— (V. 95. p. 1403: V. 97. p. 521; V. 102. p. 437.)
KEOKUK & DES MOINES R Y .— Owns from Keokuk. Ia.. to Des
Moines, la., 162 miles. Leased for 45 years from Oct. 1 1878 to the Chicago
Rock Island & Pacific Ry. The lessee pays 25% of the gross earnings but
guarantees the int. (not the principal) on the bonds. Stock Is 51.524,600
pref. and $2,600,400 com. (par, $100), a majority of which Is held by the
lessee. Pref. entitled to share with common stock In any excess over 8 %.
Suit over lease, V. 99, p. 49, 609, 969. Effective July 1 1915 under court
order, property was op era te separately and C. R. I. & P. receiver is mak­
ing no payments on account of guaranteed interest, such interest being
paid, if earned, by the company. A bondholders’ protective committee
(F. J. Lisman, Chairman) was formed in Aug. 1915. Oct. 1 1915 and Apr. 1
1916 interest was paid at maturity. V. 101, p. 527, 1092. Herbert- H.
.Clark, 66 B ’way, N. Y ., represents stockholders, com. and pref. J. E.
Gorman is chief executive officer. See V. 101, p. 1014.
DIVS.— V02. ‘03. ‘04. '05-‘07. ‘08. '09. ’ lO to’ 12. *13. 1914. 1915.
On pref., % / 1 2 1H None I X
1 2 X y ’ly 3 X
3 ^ A pr,2H .
Rental: In 1913-14, $180,306: 1912-13, $187,074: 1911-12, $170,993
1910-11, $179,565; 1909-10. $173,709.— V.100,p.2085; V .101,p .1014, 1092.

K EO K U K & HAMILTON BONDHOLDERS’ C O .—

Incorporated in May 1914 with $100,000 authorized stock, of which only
a nominal amount to be issued atjjresent, to acquire (per plan V. 99, p.
1920, the bonds of the Keokuk & Hamilton Bridge C o., which owns bridge
across Mississippi River at Keokuk, la ., used by Toledo Peoria & Western
and Wabash lilts, and foot passengers, and assist It in rebuilding the bridge.
Reconstruction has commenced.
Tho $1,000,000 30-year convertible non-cum. Income debentures, to bear
interest at not to exceed 2JA % per annum, have been exchanged $ for $ for
tho Bridge Co. bonds. Holders of Bridge bonds subscribed for an issue of
$400,000 o f 30-yr. 6 % secured notes secured by tho bonds, the proceeds of
which are to be used to rebuild the bridge.
The income of tho new co. is to be applied, first, to payment of interest
on the 6 % secured notes; second, to a special interest fund on the non-cum.
incomo debentures, and, third, to retirement of the notes by lot at par and
int. or by purchase at less than par (these by Increase in traffic it is expected
to retire in a reasonable time). Upon such retirement the notes of the
Bridge Co. will be returned to the debenture holders. In order to conform
with the coupons of the Bridge Co. the debenture coupons will be for $15
each, and one of such coupons will be paid whenever the special interest
fund Is sufficient.
EARNINGS of Keokuk & Hamilton Bridge Co. year ending Juno 30
1915, gross, S64.444; not, $47,197; interest, $56,961; taxes, $4,529. Pres.,
Andrew Carnegie; Treas., Theodore Gilman, 55 William St., Now York.—
(V. 95, p. 818; V. 99, p. 120.)
LA CROSSE & SOUTHEASTERN RY.— Owns La Crosse and Southeast­
ern Jet to Vlroqua, Wls., 40.81 miles: trackage La Crosse and S. E. Jet. to
La Crosse, 1.8 miles: total, 42.61 miles.
Stock authorized, $1,000,000:
outstanding, $955,000; par. $100. Bonds. $1,000,000; auth.; outstanding,
300.000. Wisconsin Trust & Security Co. of Milwaukee, trustee. June
0 1915, loans and bills payable outstanding, $91,115. V. 80, p. 222.
Year ending June 30 1915. gross. $93,080; net, $25,007; int. on bonds.
$15,000; bal., sur., $10,007. Pres.. John H. McMillan, Minneapolis,
Minn.: V .-P., A. S. Cargill, Milwaukee, Wls.; Sec. & Treas., Jas. B. Tay­
lor, Minneapolis, M inn., and Aud., S. J. Lennon, La Crosse, Wls. Office,
300X Main St., La Crosse, Wls.— (V. 80. p. 222.)

f

LACKAWANNA RR. OF NEW JERSEY.— (S ee D

. L

.

A

W .

M a p .)—

Owns from Hopatcong, N. J., to a point near Portland, Pa., 27.44 miles,
opened Dec.1911, D .L . & W.leases the road for a guaranty of 4% on the
stock. V. 93, p. 1324, 1786; V. 92. p. 656; V. 90, p. 557; V. 88 . p. 558:
V. 86, p. 543. Stock outstanding, $10,750,000, was distributed in Dec.
1911 as a dividend to the D .L . & W.stockholders.— (V. 93, p. 1786.)
LAKE ERIE FRANKLIN & CLARION RR.— Owns Summerville to
Clarion. Pa., 15 miles; branch, Strattonvllle to Mill Creek, Pa., 3.10 m.:
other branch, 1.67 m.; trackage. Sutton to Franklin, Pa.. 47.9 m.; total,
78.82 miles. Capital stock. $1,000,000: par. $50. Bonds authorized,
$1,000,000; outstanding, June 30 1914. $835,000; see table; car trusts,
Sept. 1915, $72,000; loans, &c., pay., $74,000. For year ending June 30
1915, gross, $139.82E; net, S52.458; other income, $2,212; Int,. taxes, &c.,
$51,078; bal., sur., $3,622. Pres., Gen. Charles Miller, Franklin, Pa.;
V.-Pros., J. T . Odell; N . Y.; Treas.. H. H. Hughes. Office, Franklin. Pa.
LAKE ERIE & PITTSBURGH R Y . — Under construction from Lorain.
O ., to Youngstown, 91 miies, with 29-mile branch to Cleveland: total 120
miles. Of this about 27.79 m. between M arcy, at a connection with Cleve-

7 2

RAILWAY STOCKS AND BONDS

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

Miles Date
Road Bonds

Par
Value

Amount
Outstanding

Rate
%

[Vol. 102

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
L E Frank & C larion R R — IstM $1,000,000 g - .F P
31 1913
J
&
D
$ 1,000
$864,000
Dec 1 1953
6g
Farm Dop Nat Bk, Pitts
Lake Erie & Detroit River— See Pere Marquette R R .
Lake Erie & Pittsburg— Stock rental guaranty______
100 4,300,000
5
First mtge $15,000,000 gold guar________ G.xc’ dsr*
28 1911 1,000 dsc 3,540,000
J ds D June 11961
58
New York
Lake Erie & Western— Common stock $20,000 p m__
710
100 11.840,000
Preferred stock 6 % (not cum) ($20,000 per mlle)__
710
100 11,840,000
,T ds J Jan 15 1908 1% Office, Gr Cent Ter, N Y
1st M ($10,000 per mile, see V 46. P 45) g._C e.xc*
710 1887
1,000 7,250,000
5 g ,T ds J Jan 1 1937
Chase National Bk, N Y
2d M (V 54. p 444) S3.625.000 (S5.000 p ra) gCe.xc*
710 1891
1.000 3,625,000
6 g J ds J July 1 1941
do
do
Lake Shore & Michigan S outhern— See New York Centr al R R .
Lake Super & lshp— 1st M $1,400,000 ser redlO l.xc*
24 1911
100 dsc
960.000
6 g F ds A Feb ’ 17-Feb '31 Clt Sav ds Tr Co, Cleve
Lake Tahoe Ry & Tr Co— 1st M g $500,000 s f beg 1905
17 1901
1,000
A & O Oct 1 1931
500,000
5g
Merc Trust Co, San Fran
Lansing Manufacturers— 1st M serial Interest rental..
1,000
8 1905
60,000
5 g J & J July 1 1920-30 Union Trust Co. Detroit
Laramie Hahn s Peak & P acific Ry— See Colorado Wyom ing & Eastern Ry
Las Vegas Sc T on — Bullf & Goldf 1st M g gu____FP
1,000
1906
199,000
6 g J & J Jan 1 1922
Fidelity Trust Co, Phlla
2d M (held by Las Vegas & Tonopah) g o ld ______
1914
1,000
68,000
do
do
6 g J & J July 15 1921
Leavenworth lerminal Ry & Bridge— 1st M g s f.Ccx
3 1893
1,000
600,000
Central Trust Co, N Y
6 g J & J Jan 1 1923
Lehigh & Hudson River— Stock $1,340.000_________
100 1,340,000
See text Doc 1 1915 4% Warwick, N Y
4
Second mortgage gold____________________ ______ z
63 1887
1.000
164.000
5 g J & J July 1 1917
llr v Nat Bk, N Y ,and 1st .
Leh & Hud Rlv gen At $3,000,000 g (see text)Cc.xc*
74 1890
1,000 2,587.000
5 g ,r ds J July 1 1920
/ Nat Dk, Warwick. N Y
Debentures $400,000 red 105 since Nov 1911_____x
1907
1,000
M ds N July 1 1920
400,000
4
Irving Nat Exch Bk, N Y
Lehigh & New England— 1st M $1,000,000 g __ FPx All
1895
1,000 1 .000,000
ds .1 July 1 1945
5g j
437 Chestnut St. Phlla
General mtge $15,000,000 g red 105____GuP.kc*
196 1914
& J July 1 1954
1.000 4,000,000
5g j
Equip tr ser A g gu red 102 Y due $30,000 yrly GuPx
1908
1,000
210.000
4 H g ,T ds n To June 1 1923 Guar Tr & S D Co, Phlla
do
ser B g gu red 102 Y, due $45,000 yrly Gu Px
1911
1,000
M ds N To May 1 1926
475,000
do
do
4Y
do ser O guar gold red 102yi $35,000 yrly.G uP x
1913
1,000
445.000
F & A T o Feb 1 1928
do
do
4H
do ser D duo $40,000 yearly guar______PeP.xc*
1914
1.000
520.000
M & S T o M ch 1 1929 Penn Co for Ins. dec. Phil
4Y
do ser E duo $55,000 yearly (guar)___________
1,000
800,000
A & o To April 1 1931 Phila, Penn Co for Ins,&e
4$
- - - 1916
Lehigh Valley— Common stock $80,000,000______ Go
50 60,501,700 10 in ’ 15 Q— J Apr 8 ’ 16, 2 Y % Checks mailed
Preferred stock 10% (V 79. p 151, 269). . . . .GP
O—J Apr 8 ’ 16. 2>$%
50
106,300
10
do
do
First mortgage extended in gold In 1898.GP.xc&r
286 1868
1,000 5,000,000
4 g ,T ds D June 1 1948
Consolidated M\coup& reg $4,762,000 4 Hs ..x c& rl
1,000 10,400,000 4H & 6 J ds D Dec 1 1923
1 1873
$40,000,000 /annuity $2,538,000 4 H s ____FPx/
317/ 1873
1,000 12,600,000 4H ds 6 ,T ds D Irredeemable - Co’s offico, 228 So 3d St,
General consol m tgel$ 150,000,000 gold..aP xc*& r
317 1903 1,000 dsc 26,639,000
4 g M ds N May 1 2003
Phil, and .1 P Morgan
do
do
/
317 1903 1,000 &c 20,697,000
N M ay 1 2003
4>* g M
& Co, New York
Coll trust bonds $500,000 duo s a, see textGP.xo*&r
1905
1,000 8,944,000
F ds A A u g ’ 16-Feb 26
4g
Equip trusts g due $250,000 s-a Series J __ Usmjro*
1907
1.000
750,000
Co’s office. Philadelphia
4 Y g M ds S T o Sept 1917
—
*
Bonds of Controlled Properties—
Lehigh & N Y 1st M gold guar p & 1____Mp.xc*&r
115 1895
1,000 2 ,000,000
4 g M ds s Sept 1 1945
Of. Phll,& JP M & C o.N Y
Lehigh Valloy Ry 1st M g gu p & i (end) GP.xc*&r
514 1890
1,000 15,000,000
4M g J ds J July 1 1940
do
do
Lehigh & Lake E 1st M $3,000,000 g Usm.xc*&r
1 1 1907
1.000 3.000.000
do
do
4'H 8 M & s Mch 11957
land Short Line Ry. and Brady Jet. on Penna. R R ., was opened Oct. 15,
1911. V. 98, p. 1241. Jointly owned by N . Y . Central R R . and Penn­
sylvania Co., which lease the road, rental providing for Interest and 5%
on stock. Stock auth., 56,000.000. as Increased In May 1911; outstanding,
$4,300,000, o f which the Penn. Co. owned on Dec. 31 1915, $2,150,000.
Of tho bonds ($15,000,000 authorized Issue), .$3,540,000 50-year 5s
to bo guaranteed Jointly by the N. Y . Central and Pennsylvania Co. wero
authorized to be issued to take up $4,300,000 4 Ms, which wore issued for
construction and were all owned Dec. 31 1914 by the two guarantor cos.
V. 101. p. 694.— (V. 101, p. 527. 694.)
LAKE ERIE & WESTERN RR.— ROAD.— Owns Sandusky, O., to
Peoria, 111., 413 miles; branch to Minster, 10 miles; branch, Indianapolis to
Michigan City, 159 miles; Fort Wayne to Conncrsvllle and branch to Rushvllle, 128 miles; total owned, 710 miles; leases Northern Ohio R R ., Akron
to Delphos, 162 miles; trackage, 28 miles; total operated, 900 miles.
.
HISTORY, &c.— See V. 50, p. 590: V. 85, p. 600. N . Y . Central R R .
owns $5,940,000 com. and $5,930,000 pref. stock. V. 71, p. 1269.
DIVIDENDS.—
V99. ’00. ’01-’03. ’04. ’05. '06. ’ 07. ’08. to ’ 15
On preferred.................% / 0
2 4 yearly 3
3
3
2
none
BONDS.— Guarantees $2,500,000 5s Northern Ohio, which see.
E A R N IN G S.— 4 mos., (1916.............Gross, $2,240,238; not, $393,958
Jan. 1 to April 30. (1915_______Gross,
1,817,119; def.,
67,388
RE PO RT.— Report for year end. Doc. 31 1915, V. 102, p. 1535.
Year—
Gross.
Net.
Other Inc. In t.,& c.
Balance.
1915............ $6,239,647 $1,445,241 $126,562 $1,055,253 sur.$516,550
1914............. 5,602,771
867,402
123,474
1,218,750 def. 227,873
— (V. 100, p. 1341; V. 102, p. 609, 1436, 1535.)
LAKE SUPERIOR & ISHPEMING RY.— Owns Presque Isle (Marquette)
to Ishpemlng, Mich., 20 miles; branch to Maas mine, 4 m.; trackage, 1 m.;
total, 25 miles. Also owns large docks at Presque Isle Harbor. Controlled
by Cleveland-CUffs Iron Co. Incorp. In Mich. Feb. 17 1893. Stock. $1,­
000,000; par, $100. Of the serial 6s of 1911 ($1,400,000) $70,000 mature
yearly; they are redeemable, all or any, on any int. day In revorse of
numerical order at 101. V. 92, p. 1636; V. 93, p. 229.
For year ending June 30 1914, gross, $524,510; not, $149,339; other in­
come, $16,335; Int., taxes, &c., $125,247; bal., sur., $40,428. In 1914-15,
gross, $350,733; net, $25,624. Pres., Wm. G. Mather, Cleveland, Ohio.
— (V. 96, p. 790.)
'
LANSING MANUFACTURERS’ RR.— Leased to M ich. Cent. R R .
LAS VEGAS & TONOPAH R R .— Owns Las Vegas, N ev., to Beatty,
118 miles. In June 1914 an arrangement was made with the BullfrogGoldfield R R ., under which the road between Beatty and Goldfiold Is to be
practically re-constructed. The Las Vegas & Tonopah R R ., In return for
its guaranty o f the $199,000 Bullfrog-Goldfield 1st M . bonds and transfer
o f part of Its line between Beatty and Goldfield, received 51% of tho Bullfrog
company’s stock ($1,640,000 as reduced), per plan, V. 99, p. 1538. Stock
auth., $4,000,000; outstanding. $1,500,000; par $100. Working liabilities,
at last accounts $1,679,753. No bonds.
EARNINGS.— 10 mos.,/1915-16..............Gross, $118,641; net, $20,014
July 1 to April 30.
11914-15............. Gross, 113,593; net, 17,339
For yoar ending Juno 30 1915 (118 miles), gross, $134,959; not, $20,125;
other Income, $7,331; charges, $36,729; bal., def., $9,272. Pres., J. Ross
Clark; Vice-Pros., O. O. Whittomore; Sec. & Treas., W . H. Comstock.
Office, 583 Pacific Electric Building, Los Angoles, Cal.
BULLFROG-GOLDFIELD R R .—’Beatty, N ev., to Goldfield, N ev., 80
miles. In June 1914 control was obtainod by Las Vegas & Tonopah RR .,
duplicate lines being abandoned. See abovo; V. 99, p. 1536. Year 1914­
15, gross, $126,596: not, $25,326; other Income, $7,413; Int., taxes, &c.,
$26,556; bal., sur., $6,183.— (V. 98. p. 1918; V. 99, p. 1536.)
LEAVENWORTH TERMINAL RAILW AY & B R ID G E — Owns high­
way and railroad bridge (opened Jan. 1 1894), 1,110 ft. long, over Missouri
River at Leavenworth, Kan., and valuable terminal property In that city.
In July 1910 the Chicago Great Western acquired the entire stock, but does
not guarantee or assume bonds. V. 91, p. 214, 397. Kansas City St.
Joseph & C. B. (Chicago B. ds Q.) and Chic. R. I. & P. use the bridge at an
annual rental of $16,000 each, under a 30-year contract from 1894, with
option of 30-year extension. Year 1913-14, gross, $54,639; net, $52,092;
Int. & taxes. $38,652; bal., sur., $13,540. Stock, $600,000.— (V.91.P.397.)
LEHIGH & HUDSON RIVER RY.— Owns from Maybrook on Central
New England R y. to Belvldero, N. J., on tho Penn. R R ., 73.9 miles; and
from PhUllpsburg, N. J., to Easton, Pa., .70 miles; trackage, Penn. R R .,
Belvldere to PhUllpsburg, 13.3 m.; D. L. ds W. trackage, Andover Jet. to
Port Morris, N. J., 8.7 m.; total operated, 96.6 miles. V. 79, p. 269: V. 94,
p. 416. DIvs., 4% each.pd. Dec. 1912, 1913,1914 and Juno and Dec. 1916.
BONDS.— Of the 52,587,000 gen. mtge. bonds out, 51,062,000 are guar.
Jointly, p. & I., by Central R R . o f N . J. and Leh. Coal & Nav. Co. and
$165,000 are reserved to take up prior ,Hens. V. 92, p.595,1701. See
form of guaranty, &c., in V. 67, p. 788; also V. 85, p. 1513.
EARN INGS.— 10 m os.,(1915-16______ Gross, $1,727,271; net, $705,692
July l to April 30.
\l914-15--------- Gross, 1,486,353; net, 498,618
ANNUAL REPO RT.— For year ending Juno 30 1915, V. 101, n. 1625.
June30Year. Gross.
Net. Oth. Inc. Charges. Dividends. Bal.,Sur.
1914-15.........$1,816,585 $571,554 $3,590 $315,652 (8)$107,200 $152,293
1913-14_____ 1,774,792 431,893 5,096 304.296
(4)53,600
79,099
Lowls A . Riley, Pres., Phlla., Pa.— (V. 99, p. 538,1668; V. 101, p. 1625.)
LEHIGH & NEW ENGLAND R R .— (See M ap.)— Operates road from
Hauto, Pa., to Campbell Hall, N. Y ., 127 mllos; Hainesburg Jet., N. J., to
Edgewater, N . J., 60 miles; Bethlehem, Pa., to Benders Jet., Pa., 19 miles;
Bath, Pa., to Martin’s Creek, Pa., 18 miles, and branches, 72 miles; total,
June 30 1915, 296 miles, o f which 9 m. are leased and 96 m. operated under
trackage rights, leaving 191 miles owned. V. 95, p. 1403. Lehigh Coal &
Nav. Co. owns majority of stock. V. 78, p. 1781, 1962; V. 91, p. 1386.
SECURITIES.— Stock auth., $7,500,000; outstanding, $6,000,000, of
wh ch $5,997,500 is owned by Lehigh Coal & Nav. Co.: par. $50. Dividon ds. 4% each, paid Dec. 31 1913 and Juno 30 and Doc. 24 1914 and of 2%
on Feb 27 1915 an dM ay 29 1915: Dec. 1915 4% .




Bonds, &c.— Of the Gen. M . 5s of 1915 ($15,000,000 auth. lssuo), $4,­
000,000 Series A wore sold to retire $2,650,000 old bonds, called for payment
Oct. 1 1914 and Jan. 1 1915, and for additions and Improvements, $1,000,­
000 were rosorved to retire tho 1st 5s or 1895 and S10.000.000 for future
purposes. V. 102, p. 976, 1060; V. 99, p. 49, 674. Tho Lehigh Coal & Nav.
Co. (V. 91, p. 1386) guarantees car trusts A and B . V. 86 , p. 1343, 1409;
V . 96, p. 63.
EARNINGS.— 10 m os.,(1915-16____Gross, $2,839,715; not, $1,298,407
July 1 to April 30.
\1914-15___ Gross, 2,104,433; net,
849,092
REPORT.— For year ending June 30 1915, In V. 101, p. 1009, showed
(296 miles), gross, $2,646,662; not. $1,166,860; taxes, &c., $68,123; other
income, $61,298; int., hire of equip., &c., $467,088; dividends (8 % ), $480,­
000; bal., sur., $212,947. In 1913-14 (293 miles), gross, $2,255,800; net.
$998,520: taxes, $43,126. Pres., Samuel D . Warriner; V.-P. & Gen. M gr.,
It. II. Wilbur; V.-P. & Gen. Counsel, Wm. Jay Turner; Sec. & Treas.,
Henry II. Pease; Compt., E. M . Reynolds. 437 Chestnut St., Phila., Pa.
— (V. 101, p. 1009, 1370; V. 102, p. 976, 1060.)
LEHIGH VALLEY R R .— (SeeM ap.)— Oper. July 1915, 1,442 miles.viz.;
Main Lino (fee, or all stock owned), ILeased______________________
143
Jersey City to Buffalo________4461 T rackage_____________________
44
Branches (fee or all stock own’d) .809! (2d track 595 miles)
HISTORY, ETC.— The Drexel-Morgan Interests, It Is understood, have
a preponderating voice In the management. A syndicate represented by
Kuhn. Loeb ds Co. In July 1910 acquired a large Interest. V. 91, p. 276.
The Lehigh-Buffalo Terminal R y. Corp., all of whose securities ($50,000
stock and $5,000,000 5% 50-year debenture bonds auth.) will bo owned, is
building a now passenger terminal at Buffalo. V. 102. p. 153: V. 99, p.
467: V. 100. p. 397. 733, 1257. 1672: V. 101. p. 455.
Lehigh Valley Harbor Terminal Ity. was incorporated in N. J. on
March 10 1916 with nominal ($100,000) capital stock, to establish in tho
interest of company an extensivo terminal dovolopmont witli piers, &c., on
somo 400 acres of water-front and underwater land at or near Jersey City.
V. 102, p. 1060, 2166.
COAL PROPERTY.— The Lehigh Valley R R . Co. owns all the ($1,965,­
000) stock of the Lehigh Valley Coal Co. (V. 81, p. 1726). Annual report
lor 1914-15 In V. 101. p. 445. Purchase In 1905 of Coxe Bros., see “ Bonds.”
The Coal Co. shipped from collieries owned and controlled 8,088,901 tons
of anthracite coal fn 1914-15. against 7.877,390 tons In PJ13-14; total coal
and coke tonnage 1914-15 was 16,894,930.
In Jan. 1912 the Lehigh Valloy Coal Sales Co. was incorporated. Soe
extra dlv. below and Lehigh Valley Coal Sales Co. under “ Industrials.”
V. 94, p. 123; V. 92, p. 956; V. 95, p. 487, 478.
On Dec. 21 1914 tho lowor Federal Court dismissed tho suit brought by
the Government against the company and its subsidiaries and tho Lehlgn
Valley Coal and Coal Sales companies for allogod violation of the anti-trust
law and commodities clauso of tho Inter-Stato commerco law. V. 98. p.
912,1920: V. 99. p. 1910. Also see Central RR. of N. J. in V. 101. p. 1465!
Government has appealed. V. 101, p. 1807; V. 102, p. 1346. Steamship
caso, V 101, p.2145; V. 102, p. 609, 1896.) Tho company’s freight sorvico
on tho Great Lakos was resumed on April 22 1916. V. 102, p. 1626, 1896.
DIVS.
J’94-’03. ’04. ’05. ’06. ’07-’ 10. 1911-13. ’ 14. ’ 15.
1916.
SInce’93 (% )j None 1
4 4
6 y ’ly. lOyrly Bolow 10 2>$,2>ij,-.In Feb. 1912 also an extra cash dividend of 10%, applicable if de­
sired to subscription for stock o f new Leh. Val. Coal Salas Co. V. 94. p.123.
In Jan. 1914,5% (seml-ann.); April. 2H % (quar.); July and Oct., 2>$ % .
BONDS.— The gen. consol, mtge. of 1903 will secure $150,000,000 bonds
bearing not to exceed 5% Int., covering the entire road, the stock of the
Lehigh Valley Coal Co. and othor stocks owned. In April 1916, following
tho sale of $10,697,000 4 Y s (V. 102, p. 1346, 1436), tho issuo stood as
follows: Outstanding in tho hands of tho public, $20,697,000 414s and
$26,639,009 4s; in treasury, $1,000,000 4>^s and $13,000,000 4s; reserved
(a) to retire underlying bonds, $76,664,000, and for additions, &c., $12,­
000,000, theso last being issuablo at not exceeding $2 ,000,000 a year, or
larger amounts as may bo authorized by stockholders. Old bonds may,
howover, bo extended, if necossary, for not over two years. Provision may
bo mado at time of issuo of bonds thereunder for right to convert into stock
at ploasuro of holder not over $25,000,000 at any ono time outstanding.
V. 102. p. 1346, 1436; V. 97. p. 1823, 1898; V. 98, p. 523; V. 99, p. 477­
V. 77, p. 824: V. 78, p. 287; V. 79, p. 1642; V. 82. p. 1380; V. 86 , p. 1343
V. 88, p. 1372; V. 81. p. 211.
P
'
The purchase of the stock of Coxe Bros. & Co. ($2,910,150) and of the
Delaware Susquehanna & Schuylkill R R . ($1,500,000) In Oct. 1905 was
financed by an Issue of $19,000,000 coll, trust 4% bonds, to be retired by
$500,000 semi-annual Installments beginning Aug. 1907 and secured by
deposit of those stocks with trustee. Bonds subject to call as a whole at
102H , beginning Aug. 1912, or in order of serial numbers. V. 81, p. 1175.
1242, 1376: V. 82, p. 100; V. 83. p. 702; V. 84, p. 1428 V . 88 , p. 452.
GUARANTIES.— Lehigh Valley Rail Way Co.— Owned Buffalo, N. Y .,
to near Sayre, Pa., 175.16 miles, double track, and branches, 339.79 miles.
In all 514.95 m .. covered by $15,000,000 mtge. of 1890. but In 1903 and
1905 consolidated with other sub. cos. and In 1907 absorbed the Lehigh &
Lake Erie. Stock, $11,745,000, all owned by Lehigh Valley RR. Mortgage
abstract, V. 51. p. 114; V. 77. p. 147, 972; V. 81, p. 784; V. 84, p. 1366.
Lehigh Valley RR. Co. of New Jersey.— Owned double-track road from
PhUllpsburg, N. J., to Jersey City, and branches, with about 125 acres at
Jersey City and a large water front, &c. Total mlloago, 122 miles. Stock
outstanding, $12,506,000, all owned by Lehigh Valloy RR., which In 1914
leased It for 99 years. V. 77, p. 972: V. 53, p. 640, 880; V. 81, p. 784; V. 83.
p. 703; V. 98, p. 1845. 1920.
Morris Canal.— Stock and bonds mostly owned by Lehigh Valley R R .
See Issue Oct. 1912 and V. 92. p. 527. 1109: V. 93, p. 811. 1106: V. 94.p,
419; V. 95, p. 488; V. 97. p. 373. In N ov. 1915 tho loaso was hold taxablo.
V. 101, p. 1807. Decision as to ownership of basin in Jersey City, V. 102.
p. 1060.

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74

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
{ F o r a b b re v ia tio n s , & c .. see notes o n f i r s t p a g e ]

Lehish Valley RR.— (C o n c lu d e d ) —
Lehigh Val Term 1st M g guar p & 1end__Ce.
East Sc Am 1st M Phlll N J to Perth Am &c gu____
Easton & Nor 1st M g guar by Loh Val.GP.xc*&r
Middlesex Valley 1st mtge .$600,000 gold__ Ce.zc*
Pa & N YCan&RR— Cons gu (text) (end)__GP.xr
Morris Canal consol stock 4% guaranteed perpetual
Preferred stock 10% guaranteed perpetual______
L V Coal Co 1st M $12,000,000 g s f not dr__xc*&r
do
Interest reduced_______________________ x
do
debentures_____________________
Cons Real Est 1st M S2.600.000 (V 83. o 702). . Usro
Lewiston Nez Perce & Eastern— 1st Ref. M text__
Nez Perce & Idaho 1st M red part yrly 105-CCxc*
Lexington Union Station— Preferred stock (see text).

M i le s D ate
Road Bonds

28
69
13
29
137

___
___
___

1891
1880
1895
1892
1888
_____
_____

1892
1892
1912
1891
1887
___ 1906
___
1915
15 1911
___

ie

12

_____

1913

Litchfield & Madison— First mtge $1,000,000 gold.x
44 1904
Little Miami— Stic original gu 8 % 99 yrs P C & St L__
___ _____
Special guaranteed betterment stock ($5,000,000) . .
...
_____
General mortgage $10,000,000__________________z
1912
Little Rock & Hot Sp West—See St Louis Iron Mtn & Sou'."’
Little Schuylkill Slav RR & Coal— Stock (rental guar)
_____
32
Live Oak Perry & Gulf RR— First mortgage______x
81 1912
Long Island— Second (now first) mortgage..........._xc‘
155 1878
•Consolidated mortgage (gold) ($3,610,000 are 5s) Ce.v
156 1881
•General mortgage gold________ _____ ______ Ce.vc*
163 1888
Long Island R R M on ferry for $2,750,000 g .Ce.zc*
___ 1892
Stewart Line mtge of 1932 for $500,000 gold__ Cev
18 1892
• Debenture ($1,500,000) gold not subject to call__ z
___ 1894
New York & Flushing first mortgage assumed..Cez
2 1880
■Bklyn&Mont 2dM assu BusSta to E’ tp’t & brsCe.zc*
76 1888
Long Island Sc Flushing M gold assumed.Ce.vc*
19 1887
New York Bay Extension 1st M ass $200,000_____z
6 1893
Montauk Extension $600,000 1st M assumed__ z
2 1 1895

Par
V a lu e

Am ount
O u ts ta n d in g

$ 1 ,0 0 0 $ 1 0 ,0 0 0 ,0 0 0
1 ,0 0 0
6 ,0 0 0 ,0 0 0
51,000

500 &c
1 ,0 0 0
1 ,0 0 0
10 0
10 0
1 ,0 0 0
1 .0 0 0

2 0 0 .0 0 0

8,500,000
See text
See text
10,114,000
1,400,000
7.500,000
678,000

1 ,0 0 0
1 ,0 0 0
2 0 0 ,0 0 0
1.0 0 0 In treasury
See text
1 0 0 &c

500 &c

105.000
388.000
300,000
400.000
1 .0 0 0 ,0 0 0
4,943,100
4,313,150
1,070,000

10 0
1 ,0 0 0
1 ,0 0 0
1 0 00

50
50

1 ,0 0 0

60
1 .0 0 0
1 0 0 &c
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0

R ate

%

W hen
P a y a b le

[Vol . 102.
L a s t D iv id e n d
a n d M a tu r ity

A & O Oct 11941
5g
5
M & N May 1 1920
414 g M & N Nov 1 1935
5 g M & N Nov 1 1942
4. 4 )4 , 5 A & O Apr 11939
4
F & A Feb 6 T 6 , 2%
10
F & A Feb 6 T 6 , 5%
5 g J & .T Jan 1 1933
4 g J & J Jan 1 1933
M Sc S Mch 1 1962
4
5 g .1 & J Jan 1 1932
6
,T & J July 1 1917
F & A Feb 1 1956
4
A Sc O Apr 1 1940
6 g
J & J To Jan 1 1925
6 g
4
J & J Jan 1 1916 2%
M & N M ay 1 1943
6
4 g J & J July 1 1929
M <% N Nov 1 1934
6 g
8 3-5 Q --M 1 0 J u n el0 ’ 16 21-5
4
Q— M 1 0 June 1019161%
M & N Nov 1 1962
4

2,487.950
5g
789.000
5
268,537
7
4,731,000 4 & 5 g
3,000,000
4g
1,494,000
414 g
332,000
4g
a l , 135,000
5g
125,000
6
600,000
5g
650,000
5g
alOO.OOO
5
a315,000
5

J
A
F

& J Jan 15 T 6 2)4
& O Junel 1942
A Aug 11918
Q— J July 1 1931
& D June 1 1938
J
M & S Mch 1 1922
& D June 1 1932
J
J & D June 1 1934
M & S Mch 1 1920
J & D June 11938
M & N May 1 1937
J A ,TJan 1 1943
J & J Jan 1 1945
&

P la c e s W h ere In teres t a n d
D iv id e n d s a r e P a y a b le

Of.. Phil, & J P M , N Y
Office, 228 So 3d St, Phil
do
do
Of. Phil,&J P M &Co,NY
Lehigh Valley R R . Phlla
Office, 228 S 3d St, Phlla
do
do
JJ P Morgan & Go. N Y ,
\ and Drexel & C o , Phil
Company’s office, Phlla
Co’s office, N Y & Phlla.
Fidelity Tr C o. Phlla.
New York and Spokane
Office. Lexington, Ky
Mellon Nat Bk, Pittsb
Portland, Mo
Central Tr Co, N Y
Office, Fosdlok Bldg, Cin
do
do
Farmers’Ln&TrCo, N Y

do
do
do
do
do
do
do
do
do
do

at VjUjia x

do&Lon
do
do
do
do&Lon
do
do
do
do
do

a In hands o f public; total Issue shown in left-hand'c olumn ; balan ce under unified mtg e.
P e n n . & N . Y . C a n a l A R R .— Leased for 99 years from Deo. 1 1888 to
Lehigh Valley, which has assumed Its debt and owns all Its stock. Consols
include $4,000,000 5s, $3,000,000 4s, $1,500,000 4 « s . V. 62, p. 950.
S e n e c a C o u n ty R y . , $500,000 gu.bds.; none sold June 1915. V. 79, p. 1271
L e h ig h A L a k e E r i e mortgage ($3,000,000) covers 11m . double-track ter­
minal *oad at Buffalo. V. 81, p. 211; V. 83, p. 702. Now a part o f the
Lehigh Valley R y. Co. V . 84, p. 1248; V . 85. p. 312: V. 87. p. 817. 818.
E A R N IN G S.— 10 mos., 11915-16..Gross, S38.835.213; net, $11,537,790
July 1 to April 30.
] 1914-15.-Gross, 35,045,845; net, $10,101,072
For 9 mos. ending Mar. 31 1916, gross earnings were $35,143,212; total
Income, $9,442,596; int., rents, &c., $4,819,521; dividends 7 >4% (10%
p e r ann.), $4,545,600; bal., surplus, $77,475.
ANNUAL REPO RT.— Fiscal year ends June 30. The report for 1914-15
as given in V. 101, p. 442.
R even u e fr o m O p era tio n —
1914-15.
1913-14.
1912-13.
Coal freight reven u o............................ $19,195,756 $18,528,246 $20,385,389
Merchandise freight revenuo............. 16,005,501
15,541,886 16,339,749
Passenger revenuo.............
4,043,799
4,795,148 4,867,554
M ail, express, &c.................................. 3,280,906
3,305,367
1,450,680

LEASE.— On Deo. 1 1869 leased to Pittsburgh Cincinnati & St. Louis
(now Pittsburgh Cincinnati Chicago & St. Louis) for 99 years, renewable for­
ever. The Penna. R R . Co. Is a party to the contract and guarantees Its
faithful execution. Rental Is 8 % on $4,943,100 original stock, 4% on bet­
terment stock and Int. on debt. V 84. p. 51, 815; V. 8 6 . p. 857.
BONDS.— The general 4s of 1912 ($10,000,000 auth. Issue; Cent. Trust
& Safe Dep. Co. of Cincinnati, trustee) are to bear not over 4% Int., with
a first lion; remainder $8,930,000 issuable only for betterments when aproved, but none until all the special betterment stock authorized under
le lease has been Issued. V. 95, p. 750, 1331; V. 96, p. 420.
Lessee’s report shows results to lessee: in 1909, profit, $67,171; In 1910,
profit, $79,646; In 1911, profit, $189,539; in 1912, loss, $28,188; in 1913.
loss, $142,190; in 1914, loss, $218,712; 1915, loss, $22,588. Stock author­
ized, $10,000,000. Beginning Dec. 1899. 1-5% extra paid on com. stock
each Dec. and Juno, and with 1912 1-5% also in Sept., from surplus Invested
funds, making dividend 8 3-5% yearly.— (V. 99, p. 467, 969.)
LITTLE SCHUYLKILL NAVIGATION RR. & COAL.— Owns from Port
Clinton to Tamanend and Reevesdale, 31.44 miles; 2d track, 26.47 m.; total,
91.71 miles. Re-leased on Deo. 1 1896 to Phlla. & Read. R y. for 999 years
Total operating revenue.................$42,525,962 $42,170,647 $43,043,372 and rental reduced from 7% on stock to 5% gold from Jan. 1 1907
Net, after taxes..............
$10,874,683 $10,423,461 $12,208,137
DIVS.— 1 ’ 05. ’06. ’07. '08. ’09. TO. ’ l l . T2. T3. T4. 1915. 1916.
Other income..........................
1,942,212
3,016,689 2,303,755
Since 1 9 0 3 % / 5)4 5
5H 5)4 5
5)4 5
5)4 5
5)4
5 2)4. Lessee pays taxes and organization expenses.— (V. 98, p. 1845.)
Total n e t ............................................ $12,816,895 $13,440,150 $14,511,892
$3,469,738 $3,308,428 $3,127,360
nterest on bonds..................
LIVE OAK PERRY & GULF R R — Owned Live OaktoEconfenla, Fla.,
Leaso other roads.................................. 2,131.795
2,212,420 2,239,295 62.85 miles; Mayo Jet. to Alton. Fla., 14.41 m.; Murat Jot. to Murat, Fla.,
Joint facilities— rents.........................
208,614
210,322
167,063
m .; total, 81 miles. Stock auth., $2,000,000; outstanding, $600,000:
M iscellaneous...............
694,303
652,320
216,346 3.74
$100. Bonds, see table. Oar, &c., trusts Juno 30 1914, $61,979.
Dividends on preferred stock (1 0 % ).
10,630
10,630
10,630 par, year
ending June 30 1914, gross, $151,610; not, after taxes, $28,394;
Dividends on common stocks (1 0 % ). 6,050,170
6,050,170 6,050,170 For
other income, $542: bond Int., &c., $44,299; bal., def., $15,363. In 1915,
$178,430; not, after taxes, $60,513. Pres., W . L. Roach; V.-P. Sc
Balance, su rp lu s.............................
$261,645
$995,860 $2,701,028 gross,
• Pres., E. B. Thomas. 143 Liberty St., N. Y.; Vice-Presidents, J. a . Treas., J. H. Powell; Sec.& Asst. Treas.,R. Hopkins. Office, Live Oak.
Middleton, F. L . Blemllnger, T. N. Jarvis. L. D. Smith; Treasurer,
LONG ISLAND RR.— Operates the steam surface roads of Long Island
O w ns —
M i le s .
O. J. Kulp; Sec., D . G. Baird, 228 So. 3d St., Philadelphia; Executive
L e a s e s — (‘ Which see.)
M ile s .
Committee: Chairman, E. B. Thomas; Geo. F. Baker, E. T. Stotesbury. Long Island City to Greenport__ 95 N. Y. Bklyn. & Man. Bch.*------- 16
Wm. P. Clyde, W. II. Moore and Daniel G. Reid.
Long Island City to Montauk___ 115 Other .........
2
Directors— Edward T . Stotesbury, W . R . Butler, Fred. M . Kirby, Sundry branches.............
114
T ra ck a g e —
W m . H. M oore, Daniel G. Reid, PI. S. M oore, Wm. P. Clyde, Samuel T.
Penna. Tunnel & Terminal................. 4
L e a s e s (‘ which see)—
Bodine, Geo. F. Baker, Henry B. Coxe, E. B. Smith, Morris L. Clothier.—
(V. 102, p. 153, 609,1060,1346,1436,1626,1896,1987.)
Nassau Electric R R ....................... 9
Total Deo. 31 1915.............
397
LEWISTON NEZ PERCE & EASTERN R R .— Projected from Lewiston, North Shore Branch R R _________ 30 Oper. electrically (miles tr.)_____ 188
Idaho, to Nez Perce, 74 miles, o f which 25 miles from Lewiston was partly N. Y. & Rockaway Beach Ry.*__ 12 Double track___________________ 150
In Feb. 1916 a 2-track road from Flushing to Oreedmoro was proposed.
constructed in June 1915. The latter includes 13.8 miles from Vollmer to
Also owns, through the Long Island Consolidated Electrical Companies,
Nezperce, Ida., In operation. Incorporated April 1915 to take over the
Nexperce & Idaho Railroad and to extend the road. Capital stock au­ the Huntington R R „ Northport Traction, Nassau County R y., Glen Cove
thorized, $1,000,000; outstanding, $559,900; par, $100. Bonds author­ R R .an d Ocean Electric Ry., having combined mileage of 32 V, m., incl. 15)4
ized, $5,000,000 First and Refunding gold 6 s at $25,000 per mile; Spo­ m., Huntington to Amltyvllle. ooened A ug.26 1909, and a one-half Interest
kane & Eastern Trust C o., trustee. Of the bonds, $150,000 are Issua­ In N Y . & Long Island Traction Co., 35 in., and Long Island Electric R y.,
ble to retire the $125,000 Nez Perce & Idaho 1st 6 s ,$200,000on account of 27 m. V. 89. p. 598; V. 90, p. 1040.
work done and $275,000 when the first 25 miles are completed. Bonds are
In Oct. 1915 was authorized to sell its $176,850 stock In Prospect Park Sc
redeemable at 105 and Int. beginning April 1 1922. V. 100, o . 2085.
Coney Island RR. at 200 to Brooklyn R. T . Co. See V. 101, p. 1369, 1464.
For year ending June 30 1915, gross, $36,636: net, after taxes, $20,537;
STOCK.—
$12,000,000, par $50. o f which Penn. R R . owns $6,797,900.—
Int., taxes, &c., $6,600; bal., surplus, $13,937. Pres., Z. A. Johnson; V . 100, p. 1074.
V .-P ., D. S. Wallace; 2d V .-P ., J. P. Vollmer: Sec., A. H. Alford, all of
DIVIDENDS.—
f *82. ’83-’90. ’91. ’92. ’93. ’94. ’95. ’96.
None
Lewiston, Ida.; and Treas., I. II. Jorgens, NezPerce, Idaho.— (V. 100, p.
P ercent_____________ i 1 4 y’ ly. 4)4 5
5 4)4 4
4
since.
1592, 1832, 2085.)
LEXINGTON & EASTERN RY.—See Louisville & Nashville.
BONDS.— The refunding 4s of 1903 ($45,000,000 authorized Issue) are se­
cured by a lien on the entire road, subject to the $21,992,000 outstanding old
LEXINGTON (KY.) UNION STATION CO.— Owns passenger station.
Common stock, $15,000, owned equally by Loulsv. & Nashv., Ches. & bonds, to retire which an equal amount Is reserved; remainder, $24,008,­
Ohio and Lexington & Eastern. There has been authorized $500,000 of 4% 000, guar, as to prin. and Int. by the Penn. R R ., were sold, the proceeds to
cumulative (non-voting) preferred stock, secured by mtge., and rentals paid be used for various Improvements and additions In connection with the
by above-named roads on basis of passenger cars. Pres., W . A. McDowell. Pennsylvania tunnels to and through New York City, principally for addi­
tional terminal facilities at Bay Ridge and Long Island City and for a double­
LIGONIER VALLEY R R .— Latrobe to LIgonier. Pa.. 10.3 miles; Llgo
track connection with the New Haven road, for additional freight and pas­
nler to Fort Palmer, Pa., 5.7 m .; total, 16 miles.
senger
terminals, tracks, equipment, and to retire old bonds. V. 78, p.
Stock, $500,000: par $50. Dividend, 25% In stock paid M ay 1 1913.
1549; V. 79. p. 2796: V. SO. p. 1111: V. 81. p. 211; V. 82. n. 8 6 8 ; V. 92,
In year 1913-14 6 % deferred dividend and 6 % regular were paid. Bonds, 583,
p. 527. Due Penna. R R . Oct. 1914 for advances, $14,233,126, repre­
seo table above. For year ending June 30 1914, gross, $253,631; net, sented
debenture notes, of which $12,247,951 debentures out Dec.
$37,018: other Income, $714: Int., taxes, &c.. $44,968. In 1915, gross, 31 1914.by V.
93, p. 1022. In Feb. 1916 the P. S. Commission authorized
$213,029; not, $103,423. Pres., J. R . Mellon; Sec., A. W . Mellon; Treas., the issue of $13,000,000
4% 10-year debentures (including $3,000,000 of
R . B . Mellon. Office, Pittsburgh, Pa.
the issue o f 1909 and a now $10,000,000 Issue) at par In settlement o f ad­
LIME ROCK RR.— Owns road in and around Rockland. Me., 1 1 m.
vances by Penn. R R . Co. for Improvements since 1909. V. 102, p. 609.
trackage, 1 m.; total. 12 m. Stock, $450,000; controlled by the RocklandEquipment trusts Dec. 31 1915. $2,866,000; loans and bills payable,
Rookport Lime Co. of Maine (V. 92, p. 960). DIv. In 1905-06. 5% : 1906, $14,141,286. Penn. Co. Dec. 31 1915 owned $800.000 4% equip, certfs.
07. 5% . of which 3% from accumulated surplus; 1007-08, 2 14 %: 1908-00; and Penn. R R . $522,000. This includes $1,050,900 Sorios A equipment
5% ; 1909-10. 414%; 1910-11, 3 M % \ 1911-12. 2 )4 % : 1912-13, 4 J i % : trusts sold to Pennsylvania R R , dated June 1 1914. due $106,000 Juno 1
1913- 1 4 ,1 H % ; 1914-15, l 3A % . Year ending June 30 1915, gross, $67,055; yearly 1915 to 1923 and $96,000 Juno 1 1924.— V. 99. p. 1673, 1130.
net, $24,723; debit for outside oper., $7,895; div. (1 M % ), $7,845; bal., sur.,
The u n if i e d m ortgage Is limited to the amount now outstanding. Bonds
$10. Office. Rockland.— (V. 82, p. 1380.)
are subject to call at 110 In whole or In part on any Interest day. V. 6 8 .
LITCHFIELD & MADISON RY.— Owns Litchfield Jet. to Madison, 111., p. 618. Mtges. on real estate, $2,005,918. V. 76, p. 266; V. 85, p. 160.
In Nov. 1909 authority was given to issue not over $16,500,000 10-year
44 m.: trackage, 1 m.: total. 45 m. Stock, common, $500,000; pref., 4%
non-cum., $500,000; par, $100. Car trusts June 30 1915, $214,802. Year 4% debentures, of which a portion to be Issued to reimburse the Pennsyl­
1914- 15. gross, $214,802; net, $64,591; other Inc., $19,627; int.. &c., $67,­ vania R R . for advances aggregating $6,062,952 on account of various Im­
426: sur., $16,792. Pres., James Duncan. Alton, 111.— (V. 79. p. 1256.) provements during 1905 to 1908, the remainder to cover additional Im­
LITTLE KANAWHA R R .— Parkersburg, W . Va., to Owensport, 30.44 provements. V. 89. p. 529. 1411: V. 90. p. 698, 1040; V. 93, p. 1022.
GUARANTIES.— In addition to guaranteed bonds In table above, guar­
m. Stock, common, $359,500; pref., $150,000; par, $100. Controlled
by Pittsburgh & Lake Erie. Pennsylvania Co. and Balto. & Ohio, which antees 5% on $650,000 New York Brooklyn & Manhattan Beach pref. stock
own $478,100 o f the stock, the last-named operating the road as agent. V. as part rental: also 4)4% on $50,000 P. P. & So. Br. stock and 4)4% on
8 6 . p. 981; V. 82, p. 628; V. 8 6 . p. 981; VT 102, p. 6 6 . For year ending $82,500 of the New York & Coney Island stock.
The shareholders voted March 14 1906 to guarantee, principal and Inter­
June 30 1914. gross, $35,292; op. def. after taxes, $13,898; rontals, &c..
$7,310: bal., def., $21,208. Pres., J. M . Schoonmaker. Pittsburgh: est, an authorized Issue of $10,000,000 4)4% 40-year collat. trust bonds of
the Long Island Consolidated Electrical Companies, a holding company, all
Sec.-Treas., J. T . Blair, Pittsburgh.— (V. 99, p. 1366; V. 102, p. 6 6 .)
LITTLE MIAMI RR .— (S e e M a p s P e n n s y lv a n ia R R .)— Owns Cincinnati, of whose stock is owned, for the trolley lines owned and controlled. See
O., to Springfield, O., 84 m.; branch, Xenia, O., to Dayton, O., 15 m.; Day­ V. 82, p. 100, 864; V. 84, p. 865: V. 8 6 . p. 1157. No bds. sold to Deo. 31 1912.
EARNINGS.— 10 mos., J1915-16___ Gross,$11,486,507;net,$2,920,489
ton, O., to Ind. State line, 38 m.; leases Columbus & Xenia R R ., Xenia, O..
July 1 to Apr. 30.
\1914-15____Gross, 10,795,290; net, 2,567,407
to Columbus, O., 55 m.; Cin. St. Con. R R ., 2 m.; Richmond & Miami R R .,
Deficit after fixed charges, $161,150 In 1915, against $494,131 in 1914.
Indiana State line to Richmond, 4 m.; total, 199 miles.




S

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76

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b re v ia tio n s , A c . , see n o w s on f i r s t page]

Long Island (C o n c lu d e d ) — '
Unified M gold callable at 110_________ Usm.xc&r
Refund mtge $45,000,000 gold gu p & L-E q.xc*& r
Debentures $16,500,000 authorized______________z
Debentures §16,000,000_________________________

M ile s
Road

D ate
Bonds

316 71899
316 11903
1909
1916

L e a s e d a n d C o n tro lled L i n e s , P r i n c i p a l o r In terest Q u a ra n teed.

Par
V a lu e

Am ount
O u tsta n d in g

R ate
%

$ 1 ,0 0 0 $5,660,000
500 &c 24.008.000
12.247.952
See text

4g
4g
4
4

W hen
P a y a b le

[V o l . 1 0 2 .
L a s t D iv id e n d
a n d M a tu rity

M & S Mch 11949
M & S Mch 1 1949
J & D Deo 311919
1926

L I R R No Sh Br cons M $1,425,006 gu p&l.Ce.vc*
30 1892
1 ,0 0 0 a l,262,000
5g
Q— J Oct 1 1932
N Y B & Man B 1st cons M $1,726,000 gold gu__Cev
1 ,0 0 0 a l,601.000
19 1885
A & O Oct 1 1935
N Y & Rock Beach 1st M $984,000 guar p & 1___ Ce
1887
1 ,0 0 0
a883,000
5 g M & S Sept 1 1927
P P & C I 1st and 2d ($96,000 seconds) g u a r _____v
11436.000
Various 1926-1931
"16 86-’ 91
1 ,0 0 0
4M
Lorain Ashland & S outhern— 1st M $2,000,000 g.x 73 H 1913
1.500.000
1 .0 0 0
5 g A & O Apr 1 1961
2d M $1,200,000 Incomes till Apr 1 1916_________ x
1 .2 0 0 .0 0 0
1913
1 ,0 0 0
a
A & O Apr 1 1961
Lorain & West Virginia— 1 st M $2,000,000 g __ xc*&r 7 3 3 l 1913
2 , 0 0 0 .0 0 0
1 ,0 0 0
5 g J & J Jan 1 1963
Louisiana & Arkansas— Stock $7,000,000 authorized.
5.000.
000
273
10 0
Sep 15’ l t I H %
First mortgage $7,000,000 gold (text)___ (i.xc’ &r
5.196.000
273 1902
1 ,0 0 0
5 g M & S Sept 1 1927
Equipment trusts due $3,000 semi-annually.
42,000
6
M & N To Nov 1923
1 ,0 0 0
1913
do
do
due $8 ,6 6 0 semi-annually______
1 2 0 ,0 0 0
A & O To Oct 1923
1 ,0 0 0
6
1914
Louisiana & North West RR— Underlying M gold __x
10 0 ,0 0 0
1 ,0 0 0
5 g J & J Jan 1 1945
35 1895
First mortgage $10,000,000 gold_________MSt.xc*
5 g A & O Apr 11935
1 ,0 0 0
2.150.000
115 1905
Louisiana Ry & Nav— First M gold (see text)-F.xc&r
1 ,0 0 0 10.545.000
342 1903
4H g J & J July 1 1953
Louisiana Southern— 1st M g red at 1 0 5 _______ Ce.xc
250.000
500
5 g M & S Mch 11950
45 1897
Louisiana Western— First mortgage gold______ Ce.zc
1 ,0 0 0
6 g
2.240.000
J & J July 1 1921
105 1881
Louisville Bridge Co— Stock________________________
1.500.000 8 In 1915 Seml-an July 1 1915 4%
10 0
Loulsv Hend & St Louis— 1st M $2,500,000 g o l d ..Cl.z
J & J July 1 1946
182 1896
500 2.500.000
First consol M $5,060,006______________________
See text.
5*
182 1915
1965
Louisville & Jeff Bridge— $5,000,000 g gu p & 1 __ xc
4.500.000
1 ,0 0 0
4 g M & S Mch 11945
1895
Louisville & Nashville— Stock $72,000,000 _______ __
1 0 0 72,000.000 6 In 1916 F & A Aug 10 1916 3)4
E H & N 1st M Hend to Nash g drawn 110 Ce.xc*
600.000
1
,0
0
0
155 1879
6 g
J & D Deo 11919
Louisville & Nashv gen M gold drawn 1 1 0 ..Ce.xc*
1 ,0 0 0 d2,284.000
6
J & D June 1 1930
803 1880
L C & Lex gen mtge gold (V 63, p 1010).........(i.xc*
1 ,0 0 0
3.258.000
176 1881
4 H g M & N Nov 11931
Pensacola DIv 1st M gold (drawn at 105) .F.zc*
1 ,0 0 0
177,000
6 g
M & S Mch 11920
45 1880
New Orl & Mob Dlv 1st M N O to Mobile g F.zc*
1 ,0 0 0 b4,992,000
J & JJan 1 1930
6 g
141 1880
Second mortgage gold____________________ xo*
1 ,0 0 0
1 .0 0 0 .
0 006 g
J & J Jan 1 1930
141 1880
Southeastern & St Louis Dlv first mtge gold ."xo*
1 ,0 0 0
3.500.000
M & S Mch 11921
208 1881
6 g
Second M gold East St Louis to Evansv & brlxc*
1 ,0 0 0 c2.997.000
3 g M & S Mch 11980
208 1881
First M (50-year 5s) $15,000 per mile gold Us xc*
1 ,0 0 0
f l , 749,000
M & N May 1 1937
2 0 2 1887
5g
First mtge collateral trust ($7,000,000) gold F zc*
1 ,0 0 0 g4.705,000
5 g M & N Nov 11931
1888
Unified mortgage for $75,000,000 g__ Ce.xc* &r* Text , 1890 1 ,0 0 0 &c h64,770,000
4 g J & J July 1 1940
Mobile & Montgomery Joint M $5,000,000 g Ce xc
a.ooo 4,000,000
4)4 g M & S Sept 1 1945
179 1895
1F There are also unguaranteed $160,000 1st 6 s and $104,0._____
,,
00 2 d__6 s. „
a In hands of public: total Issue shown In left-hand olmmn: balance^un der unified mtge. b to h
See next page.
RE PO RT.— Report for year 1915, V. 102. p. 1155.
1915.
1914.
1914.
T
1915.
$
$
J$
D e d u c .(c o n c l.)
$
13,553,780 13,282,930 Hiro of equip.
11,715
65,823
3,486,602
3,335,879 Joint facilities 457,362
434,308
.j. ,• a
442,768
441,953 Miscol. rents.
204,451
441,953
Rents, &c-----235,568
Unfund, secur.
Bond interest- 2,471,049 2,444,444
290,857
205,037
and acc ts_.
205,037 OthorRintorest
518,298
543,346
Miscollanoous
54,237
60,934
4,220,226 3,982,869
D ed u ct—
Total deduc. 4,381,377 4,477,000
Leaso oth.rds.
664,265
693,196 Bal. ^ deficit. .
161,150
494,131
Pres-j Kalph Peters: Treas.,Jam es F. Fahnestock. Broad St. Station.
Philadelphia.— (V. 101. p. 1465; V. 102, p.345. 522, 609,1155, 1163.)
LORAIN ASHLAND & SOUTHERN R Y .— Owns from Lorain to
Custaloga, 67 miles, completed Oct. 1 1914. V. 99. p. 538. Stock auth­
orized, all outstanding, $1,800,000; par, $100. In Juno 1916 the Pennsylvama Company acquired substantially all tho company’s securities.
V. 102, p. 2160.
BONDS.— Of tho first 5s o f 1913 ($2,000,000 auth.), tho $1,500,000
were underwritten to complete tho road. Oct. 1915 coupons wore not paid.
V . 96, P- 1297. Second 5s, $1,200,000, became a fixed charge Apr. 1 1916.
Car trusts, $33,000.— (V. 99, p. 538; V. 102, p. 2166.)
LORAIN & WEST VIRGINIA R Y .— Wellington to Lorain, O ., 30 miles,
with branches, 5 m. Stock, $2,000,000. all outstanding; par, $100. Divi­
dend 1913-14, 1.6% . Formerly controlled by Wheeling & Lake Erie, but
control relinquished in Oct. 1908, guaranty o f bonds being canceled. Op­
erated in July'1914 by receiver o f Wh. & L. E. under an operating contract.
Bonds, $2,000,000 authorized. Citizens’ Savings & Trust Co. o f Cleve­
land; trustee. For year ending June 30 1915, gross, $245,689: net, $174,­
71?: Int-, taxes’ £ & A * .W ’ 16§ :
d - 6 % ) . $32,000; bal.. def., $4,287. In
191314, gross, $327,437; net, $225,583. Pres., B. A. Worthington;
W . M . Baldwin; Treas., J. R. Nutt.— (V. 100, p. 2009.)
LOUISIANA & ARKANSAS R Y .— Owns from Hope, Ark., to Tioga,
La., 192.89 miles; Packton to Wlldsvillo Jet., La., 53.32 m.; Mlndon, La.
to Shreveport, 27.15 m .; trackage, Tioga to Alexandria, La., 7.33 miles
trackage near Shreveport, La., 2.01 miles: total. 278.72 miles. Also extenslon from \yildsv!llo Jet., La., to Natchez, Miss., 25 miles, projected
V. 97, p. 6 6 6 ; \ . 93, p. 1726. Rock Island Co. uses 36 miles, Packton, L a .’
to Pinevile, La., under trackage contract, and St. Louis Southwest, passonl
ger trains the Shreveport terminals under a 25-year lease. V. 93, p. 527,
D IV ID E N D S.— 1906 to 1909. 3% y ’ly; then to Sept. 15 1911,2)4% y ’ly.’
None since to Juno 1916, tho surplus funds having been applied to better­
ments and sinking fund. V. 102, p. 153.
BONDS.— The unissued first 5s (total limited to $7,000,000) are reserved
for betterments, equipment and extensions, of which $ 1 ,0 0 0 ,0 0 0 reserved
for bridges across Black and Red rivers, and the balance limited to $20,000
per mile of completed railroad. The entire amount outstanding, but no
part. Is subject to redemption at 1 1 0 and Interest on any Interest date.
Annual sinking fund $75,000 per ann. to buy bonds at 110 and Int., or under;
otherwise, to bo invested. Of tho $5,196,000 issued Dec. 1915, $692,000
wero held alive in tho sinking fund. Seo V. 101. p. 2071.
EARNINGS.—’For 10 months ending April 30:
10 M °nlfls—
G ro ss.
N et.
C h a rg e s . B a l . , S u r p .
1 9 }5 -}6 .......................— $1,421,834
$448,313
$263,858
$184,455
--------- 1>435,604
434,189
2/8,920
155,249
REPORT.— lo r year ending June 30 1915 in V. 101. p. 1185.
,-Uear—
Grow.
N et.
O ther I n c . C h a r g e s ,A c .
B a la n c e .
1914-15-----$1,679,951
$483,574
$43,726
$334,060
$193,240
1913-14----- 1.700,208
495,089
41,663
337,276
199.476
Pres., Wm. Buchanan, Texarkana, Ark.— (V. 101, p. 2071; V. 102,p.i53)
* LOUISIANA & NORTH WEST R R .— Owns Magnolia, Ark., to Natchi­
toches. La., 115 m.; trackage. Magnolia to VlcNoil, 6.4 m. On Aug.22
1913 Geo. W. Hunter was appointed receiver. V. 97, p . 521, 595.
Stock out, $2,300,000; par, $100. Of 1st 5s of 1905 C$10,000,000 auth.
Issue), $150,000 is reserved to retire the old bonds. V. 82, p. 628; V. 85.
p ’ 1 16.2’ Car trusts outstanding Juno 30 1915, $8,716; loans and bills
payable, $750,853. For year ending Juno 30 1915, gross, $245,039; oper.
def., $17,147; m t., taxes, &c., $151,076; bal., def., $168,223. Pres. &
Treas., Geo. W. Hunter, St. Louis; Sec., John A . Richardson, Homer, La.
— (V. 97, p. 521, 595.)
LOUISIANA RY. & NAVIGATION CO.— Owns New Orleans to Shreveort, La., 305.6 m.; Colfax to Winfield, 28 m.; Plnevllle to Eras, 8)4 m.;
teneelys to end of track. 2.84 m. Stock auth.. $12,000,000; outstanding
Juno 30 1915, $8,131,000; par, $100. Juno 10 1916, short notes, $10,000;
equip, obligations, $38,517.
EARN IN G S.— 10 mos., (1915-16.........Gross, $1,850,536; not, $480,909
July 1 to Apr. 30.
\1914-15.........Gross. 1,676,750: not, 307,689
For year ending Juno 30 1915, gross, $2,023,698; not, $376,314; other in­
come, $3o,649; int. on bonds, $474,525; lnt., rentals, &c., $211,672; ad­
justments, $32,488; bal., def., $306,722.
Pres., Wm. Edenborn, Hibernia Bldg., New Orloans; V .-P ., II. B. Helm,
Treas., L. M . McForlin, Shroveport; Sec., J. J. Tippin.— (V. 99, p. 1748.)
LOUISIANA SOUTHERN RY.— Owns New Orleans, La., to Polnte-a-laHache, La., 45 m.; Poydrasto Shell Beach. 16 m.; total, 67 m. Steam
for freight and gasoline motor cars for passenger sorvico. In Feb. 1916 was
being operated for account o f owners by Now Orloans Texas & Moxlco. In
Jan. 1901 the United R y. & Trading Co. of England acquired over 95% of
the stock and bonds, that company also owning tho Kenilworth Sugar
Estates, 10,000 acres. V. 76, p. 706. Stock, $300,000; par, $100. Divs.
In 1900-01,7%: 1901-02, 7)4 %; 1905-06, 4)4 % . Year ending Juno 30 1915,
gross, $108,012; not, $19,701. Pres., E. A. Hopkins, New York; Sec.,
S. Gibbs. London, Eng. Office, New Orloans, La.— (V. 95, p. 618.)
LOUISIANA WESTERN RR.— (S e e M a p o j s o u th e r n P a c i f i c ) .— Owns
from Lafayette, La., to Sabine River, 105 miles; Abbeville to Mamou, 6 8 m.;

S




P la c e s W here In terest a n d
D iv id e n d s a re P a y a b le

U S M tg & Tr Co, N Y
Am Nat Excn Bk, N Y
U S Mtge & Tr Co, N Y
do
do
do
do
do
do
Soo text
do
CIt S & T Co, Clev & NY
Checks mailed
Guaranty Trust Co, N Y
do
tto
do
do
Boody, McL & Co, N Y
In default
See text
R WInthrop & Co, N Y
S P Co, 120 B’ way, N Y
Pittsburgh, Pa
Bk of Amer. NY;& Louis
J P Morgan & Co, N Y
71 Broadway, New York
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
71 Broadway, New York

Mallard Jet. to Lake Arthur, 34 m .; total, 207 miles. Operated indepen­
dently. Southern Pacific owns all the $3,360,000 stock. Dividend on
stock in 1905-06 and 1906-07. 10% yoarly; In 1907-08, 85%; in 1908-09,
20% ; >1909-10 and 1910-11, 15%; 1911-12,10%: 1912-13,10%; 1913-14,
10%; 1914-15, 10%. In 1914-15, gross, $2,186,500; not incomo, $699,384;
sur. aftor chgs., $435,872. In 1913-14, gross, $2,348,788.— (V. 74. p. 268.)
LOUISVILLE BRIDGE CO.— Owns bridge 5,294 feet long over Ohio
River at Louisville, K y., and about 3 miles track in Loulsvillo. Has under
construction a new double-track bridge. Over 98% of tho minority stock
was roportod in Feb. 1916 to have accepted an offer from Ponn. RR. to
exchango seven shares of Southern Pacific Co. stock for six shares of Bridge
Co. stock. V. 102, p. 609.800. Usod by P. C. C. & St. Louis Ity., &c. Penn.
Co. Jan. 1915 owned $902,000 stock. Divs. since 1902: 1903, 13% (V. 79,
p. 2747; V. 78, p. 102); 1904, 4% ; 1905, 6 % ; 1906, 7% ; 1907. 8 % ; 1908.16%;
1909 to 1915 8 % ; Jan. 1916, none. For cal. year 1914, gross, $194,506:
net, $128,293; divs. (8 % ). $120,000; bal., sur., $8,293.— (V. 102, p.
609, 800.)
LOUISVILLE HENDERSON & ST. LOUIS RY.— ROAD.— Louisville
to Henderson, Ky., 144 miles (Including 6 miles trackage); Irvington to
Fordsvllle, Ky., 44 miles; L. & N. trackage, Henderson, Ky., to Evans­
ville, Ind., 12 miles; total, 200 mllos. Loulsv. & Nashv. on Juno 30 1915
owned $1,471,290 of tho $2,000,000 5% non-cum. prof, and $1,721,871 of
tho $2,000,000 com. (par $100 . V. 94, p. 207; V. 95, p. 1274; V. 96. p. 653.
In Oct. 1915 filed a $5,000,000 1 st consol. M . bond. $2,500,000 reserved
to retire 1st M . 5s at maturity and $700,000 to bo sold forthwith. V. 101,
p. 1370. There are $210,000 4)4% equipment notes of 1912, series A duo
$30,000 yearly Sept. 1916 to 1922.
EARN ING S.— 10 mos., (1915-16........ Gross, $1,336,246; net, $345,630
July 1 to Apr. 30.
\1914-15........ Gross, 1,169,523; not, 242,787
Report for year ending June 30 1915 in V. 101, p. 1459, showed: Gross,
$1,397,190;
net
Income,
$276,899;
charges, $245,654; bal., sur., $31,245,
Sec.,
against $81,775 in 1913-14. Pros., R. N. Hudson.— (V. 101, p. 1459.)
LOUISVILLE & JEFFERSONVILLE BRIDGE CO.— One-half mile long
approaches 2 miles; overhead viaducts 1 ) 4 miles, with connecting lines In
Louisville; 40 acres In Louisville and about 60 acres In Jeffersonville.
Stock, $1,425,000; mtge. for $5,000,000: bonds for $500,000 are reserved
for future construction, &c.; the bonds are guaranteed lointly and severally
by the Chesapeake & Ohio and Cleveland Cincinnati Chicago & St. Louis, In
whoso interest tho stock is owned, and any deficit is payablo in tho propor­
tion of ono-third and two-thirds respectively; soo V. 60, p. 130; V. 61, p.
327, 559; V. 62, p. 84.— (V. 89, p. 529.)
LOUISVILLE & NASHVILLE R R .— S e e M a p . ) — ROAD.— Operates
main line, Cincinnati, O., to Now Orleans, La., 921 m.; branches to St.
Louis, Memphis, &c., 4,116 m.: total, Juno 30 1915, 5,037 miles, viz.:
L in e s o w n e d i n fee o r throu gh stk M i le s I L in e s le a se d , A c .—
M i le s .
Louisville to Nashville________ 181 Other linos___________________ 216
Sundry other lines__________ 4,466 (Operated for other companies _ 172
R e p o rt in g S e p a ra te ly ( M a k in g 7,607 M i le s O w n ed a n d A s s o c ia te d J u l y 1 1915.)
1
Nashvillo Chatt. & St. Louis___ 926 Other lines_____________________
21
♦Georgia Railroad System_____ 571 Owned but leased to othor cos
♦Louisville llend. & St. Louis__ 182
do Paducah & Mom. D lv___248
♦Chic. Indianapolis & Louisville.622
* See separate statements for thoso companies.
In Oct. 1915 merged tho Lexington & Eastorn Ry. (211 mllos), and also
minor subsidiaries with Itself. V. 101, p. 1272; V. 91, p. 1447; V. 92, p.
1701; V. 97, p. 1029; V. 100, p. 901. Seo Bonds bolow.
In 1913 purchased South & North Alabama R R . V. 97, p. 729, 1287.
C o n tro l b y A t la n t ic C oast L i n e . — Late In 1902 the Atlantic Coast Line RR.
acquired $30,600,000 o f tho (thon) $60,000,000 stock and owns $30,720,000
of tho present $72,000,000 stock, but tho roads aro operated Independently.
V. 74, p. 830. 1038; V. 75. p. 733, 1399.
DIVS. / ’99. ’00. ’01-’04. ’05-’07. 1908. ’09. ’ 10 to ’ 14. ’ 15.
’ 16.
Sinoe 18931 3)4 4 5 y ’ly 6 y’ly
5)4 5)4
7 y ’ ly
5 2)4, 3)4
In Feb. 1916 paid 2 )4 % ; August. 3 )4 % .
Also in Feb. 19081% in LouisvllloProperty Co. stock. V. 8 6 , p. 229,421.
BONDS.— E v . H e n d . A N a s h . 6 s aro drawn at 110 annually In amounts In­
creasing each 5 yrs. until $150,000 per year Is readied; 1915, $150,000.
P e n s a c o la D lv . bonds are now called $20,000 yearly. V. 81. p. 265, 726’
The G en era l M o rtg ag e bonds of 1880 arc called at 110 In Increasing amounts
each year; $653,000 was paid June 1 1916. V. 102, p. 1163.
" U n i f i e d ” m ortgage, $75,000,000, of which $41,917,660 was rosorvod to re­
tire all prior liens (none of tho prior lions can bo extended), tho balanco for
Improvements, extensions (at tne rate of $32,000 per mile. Including equip­
ment), and for other purposes. The mortgage covers (besides 1,994 miles
of road and equipment), $26,473,606 stock of companies controlled and
$3,150 000 bonds free from any lien. See abstract of mortgage In V. 61,
p. 613; also V. 72, p. 1034. 1188; V. 77, p. 968. In July 1915, of $66.149,­
000 outstanding, $1.362,o0o was In treasury and $17,000 In sinking funds.
M o b ile A M o n tg o m e ry — L o u is v ille A N a s h v ille Jo in t m ortgage Is to r
$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 tra l mtge. abstract, V. 45, p. 372.
L o u i s v i lle A N a s h v ille T e r m in a l 4s.— Jointly guaranteed, prln. and Int.,
by L. & N. and Nashv. Chatt. & St. L. See form, V. 8 8 , p. 1313.
In 1902 the Louisville & Nashvillo and tho Southern Ry. acquired $9,­
796,900 of the $10,500,000 Chic. Indianapolis & Loulsv. common and
$3,873,400 of the $5,000,000 pref. stock In exchange for their Joint 50-ycar
4% bonds. V. 74. p. 1138; V. 76, n. 593. Of the $15,500,000 Joint bonds
secured by deposit of thl3 stock, $1,563,000 aro reserved to acquire re­
maining "Monon” stock and $2,110,000 for lmpts.,&o., $500,000 yearly.
The Atlanta Knoxville & Cincinnati division 4s ($50,000,000 authorized)
cover 870 miles. Of the bonds, an equal amount will bo reserved to retire
at maturity underlying bonds, viz.: Kentucky Central 4s, $6,742,000:
Atlanta Knoxv. & North, bonds, $1,500,000. Tho line from Livingston to
Jelllco, 61 miles, Is subject to prior lien of unified mtge. V. 80, p. 872; V.
84, p. 1428; V. 92, p. 1178, 1311, 1565; V. 96, p. 716, 1022.




78

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[ F o r a b b re v ia tio n s , A c . , see notes on f i r s t page]

M ile s
D ate
Road Bonds

Louisville & Nashville (C o n c lu d e d )—
Pen & At 1st M gold drawn 110 assumed______xc
160 1881
Henderson Bridge Co 1st M gold drawn 105.Ce.xc
1C 1881
Nashv Flor A Shell 1st M g assumed In 1900.Ce.zc
105 1887
Paducah & Mem Dlv 1st M $5,000,000 gold. Ba.xc*
254 1896
Sou & Nor Ala lstM (V 97, p 1204, 1426)g gu Ce.xc*
202 1886
Gen cons M $25,000,000 g guar___ Us.xc*&r*
202 1913
Newp & CIn Br 1st M g s t assum gu by Penn Co.F.x
__ 1895
L & N-So J't M $7,750,000 red 105 since’0 7 .Q.xc*&r
1902
Lexington & East 1st M $20,000,000 gu p & i.N .y c*
211 1915
Kentucky Central 1st M ($7,000,000) gold_.Mp.zc*
247 1887
Atlanta Knoxville & Northern llrst mtge gold.Ce.x
228 1896
Atl Knoxv A Nor consol M gold $10,000 p m .U s.x
228 1902
L & N— Atl K & C Dlv M $50,000,000-_Us.xc*&r
870 1905
L & N Term M $3,000,000 gold guar jointly .Ba.xc
__ 1902
Equipt certs g ser A due $325,000 s-a_____FL.xc*
1913
Louisville New Albany & Chicago— See Chicago India napolf s A Lo
Lykens Vail RR & Coal Co— Stock— Rental pays4%
19 ___
Macon & Birmingham— First M $500,000 g __ OB.xc
97 1896
Macon Dublin & Sav— 1st M $1,840,000 g g u __ N.xc*
92 1907
__ 1915
Macon Term inal— 1st M $3,000,000 g gu.Colc*&r*
Alahoning Coal RR— S t o c k __________________
71 ____
Preferred stock (see text)________________________
71 ____
First M Youngs to And &c guar n A I (end) ..U n .zc
6 8 1884
Maine Central— Com. stock and scrip ($15,000,000).
__ ____
Pref stock 5% cum non-voting, $3,000,000________
__
Collateral trust bonds for Mt Desert Branch.AB.zc
41 1883
1st & Ref M $25,000,000 ($6,000,000 callable on or
aft J ’ne 1 T6 & $7,000,000 on or aft Doc 1 T8 at
102 & int___________________________ __c*&r*
__ 1915
Impt bds “ A ” & “ B ” ($200,000 “ A ” to bo paid
July 1 1916)______________
:__z
’86-’87
Maine Central Eur A No Am refunding mtge gold.z
56 1893
First M Penobscot Shore Line R R Co assumed__ z
48 1890
K & L 2d M (for $400,000) assumed_________ BBz
48 1891
Washington County 1st M per mile g gu red.Ce.zc*
139 1904
Somerset R y first m ortgage___________________ zc
42 1887
Consolidated mortgage $420,000 gold_________ z
42 1900
First and refunding mtge $1,500,000 gold ..A B z
94 1905
Addit’l own. by Co J’ly T 5 , viz.: b $8,000 d $11,000
f $15,00

Par
V a lu e

Am ount
O u ts ta n d in g

R a te
%

[Vol. 102.

W hen
P a y a b le

L a s t D iv id e n d
a n d M a t u r it y

P la c e s W h ere In teres t a n d
D iv id e n d s a re P a y a b le

$1,000 $1,476,000
F A A Aug 1 1921
6g
do
do
1,000
874,000
M A S Sept 1 1931
6 g
do
do
1,000
F A A Aug 1 1937
1,996,000
5g
do
do
1,000 r4,619,000
4 g F A A Feb 1 1946
do
do
1,000 t9,292.000
5 g F A A Aug 11936
do
do
1,000 &c
7,400,000
5 g A & () Oct 1 1963
do
do
1,000
1,376,000
J July 1 1945
do
do
4 «e J A
1.000 &c n5,898,500
4g
July 1 1952
J P Morgan A Co, N Y
P
1,000 7,500,000
5g
A & O Apr 1 1965
1,000 16,704,000
4 g J & J July 1 1987
71 Broadway, New York
1,000
999,000
5 g J & 1) Deo 1 1946
do
do
1,000
500,000
4 g M A S Mch 1 2002
do
do
1,000 &c u24 745,000
4 g M & N May 1 1955
do
do
1,000 2.500,000
4 g J A D Dec 1 1952
do
do
1,000 4,550,000
5 g J & D T o Juno 1923
do
do
ulsville.
20
4
J & J Jan 1 1916 2% Office, 13 William St.NY
599,120
1,000
500,000
J A
.1 July 1 1946
No coupons ever paid
6 g
1,000
1,529.000
6 g J A <1 Jan l 1947
New York Trust Co, N Y
1,000
1,600,000
5 g J & J July 1 1965
N ew Y ork.
50, 1,500,000 See text. F & A See t e x t
Grand Cent Term, N Y
50
661,367
J & J Jan 3 '16 2 IS % Union Trust Co, N Y
5
1,000
1,500,000
5
J A J July 1 1934
do
do
100 14,907,617 6 In 1915 c — J July 1 1916 1 H Office, Portland, Me
100 3,000,000
5
Q—M June 1 1916 1
1.000
J & D June 1 1923
659,000
American Trust, Boston
5
1.000 &c 13,000,000

4H
1,000
450,000
4H
1,000
1,000,000
4g
1,000
1,300,000
4
1,000
400,000
5
1.000 2,500,000
3M g
500 <5cc
225,0( 0
5
500 &c
172,50u
4g
1.000
4g
8 6 4 ,0 0 0
0 g$424,0 00 h$ 1.361. 0 0 0 iS38,

J

& D Dec 1 1935

J

A
A
A
A
A

J
A
A
J

Jan
Aug
Feb
J
Jan
J
A
J July
J
A .12 July
J A
J July
000 n$15 .500
J

F
F

N

Y ,

Boston & Portland

J July 1916-17

do
do
1 1933
do
do
11920
N Y, Boston A Portland
1 1921
do
do
1 1954
N Y , Boston A Portland
Nat Shaw Ban!/, Boston
1 1917
do
do
2 1950
1 1955
Amer 'Crust Co, Boston
r $217,000 t $708,000 u $772,000.

Of the South & North Alabama R R . general consol. 5s ($25,000,000 auth.
Issue), $7,400,000 have been sold, guar., prln. & Int., by the L. & N .;
$10,000,000 are reserved to retire the 1st 5s o f 1886; remainder for Im­
provements, equipment, &c. V. 98, p. 454, 156, 1001.
The subsidiary Lewisburg & Northern R R . in Sept. 1915 mado a mort­
gage to secure $15,000,000 50-year 5% bonds, o f which $8,257,000 to pay
for construction and $6,743,000 for further construction and improve­
ments. In Oct. 1915 none held by public. V. 101, p. 846, 1272.
Loxlngton & Eastern Ry. 5s aro guaranteed, prin. and int. (auth. Issuo
$20,000,000). See V. 100, p. 901, 1438; V. 101, p. 1272; V. 102, p. 1163.
As to equipment series “ A ” 5% s, see V. 96, p. 1298.
FINANCES.— In Feb. 1915 tho dividend rate was reduced from 7 to 5% :
Dividend on Nashv. Chatt. & St. Louis R y. stock ($11,484,100 owned) was
raised from 5% to 6% basis as o f Feb. 2 1916. V. 102, p. 251.
EARN INGS.— 10 mos., (1915-16..Gross, $49,882,260; not, $16,942,871
July 1 to Apr. 30.
(1914-15.-Gross, 43,267,064; not, 10,146,070

47 miles, and Strong to Bigelow, Me., 30 miles, with branches, a total of
106 miles. V. 93, p. 408, 589, 940; V. 94, p. 698. In Oct. 1912 acquired
entire stock of Bridgton & Saco River R R .,21 miles, 2-ft. gauge. V .95,
p. 176. Purchase liangeley Lakes & Megantlc R R .. V. 95, p. 1202.
S to ck, A c .— To end the foreign control, tho Maine Central R R . stock
(64%) held by the Boston & Maino R R . was on April 1 1914 purchased
by tho Maine Railways Companies (all o f whose stock Is owned by tho
Maine Central and may bo liquidated by Its trustees. V. 98. p. 912, 1071,
1244; V. 99, p. 965; V. 100, p. 642. See that Company and BONDS below.
Tho stockholders on Oct. 20 1915 authorized retiring $10,000,000 of the
outstanding stock and issuing in place thereof $3,000,000 5% non-voting
cum. pref. stock and $7,000,000 1st & ref. 20-yr. 4>^s. V.101, p.923, 1370,
1465. These securities having been underwritten wero offered to share­
holders. Tho common stock was thus reduced to $14,907,617. See
bonds below. V . 101, p. 1628, 1714.
DIVS.—
/
’04-’06.
’07. ’08-T0.
’ll.
1912 to July 1916
Since 1902 (%)1
7 y ’ly.
7K 8 y ’ly.
7X
6 yearly (1 ^ Q-J)
CiM os.to G ro s s .
N e t (a fte r
Other
In t e r e s t,
D iv id e n d s
B a la n c e ,
An initial preferred dividend of 1 ) 4 % was paid Mar. 1.
D e c . 31. E a r n in g s . T a x e s ,A c )
In c o m e . R e n t a ls ,A c . (2 K % ).
S u r p lu s .
1915.. $29,265,242 $8,670,096 $1,732,286 $4,400,464 $1,800,000 $4,201,918 BONDS.— Tho 1st & ref. M . mado in 1915 (see above) is limited to
1914.. 26,844,279 5,425,854 1,471,571 4,221,956 1,800,000
875,468 $25,000,000; SO,000,000 wero Issued to retiro SO,000,000 notos of 1919
(called and paid o ff at 102JjJ May 1 1916); $1,700,000 aro reservedtorotire
R E PO RT.— Report for 1914-15 in V. 101, p. 1180.
othor underlying bonds; $5,300,000 wero issuablo for any lawful purpose,
and tho remaining $5,000,000 may bo issued only for improvements when tho
Y e a r e n d in g J u n e 30—
1914-15.
1913-14.
1912-13.
Average mileage...................................
5.037
4,937
4,819 earnings aro 1M times all interest charges. Including tho bonds to bo Issued.
Freight ea rn in g s................................$36,953,7941
($42,924,952 A first mortgage on about 320 miles of road, including tho lino running from
Passenger earnings...........................
10,859,047 $59,906,4671 12,835,658 Portland to Bangor and on entire stock of Portland Term. C o., and a
M ail, express, &c................................. 3,793,174J
l 3,705,089 second mortgage on about 88 miles. Amount outstanding was increased
in April 1916 from $7,000,000 to $13,000,000 to rotiro aforosald note issue.
Gross earnings.....................................$51,606,015 $59,906,467 $59,565,699 V. 102, p. 976. 1163, 1250.
Thero are also $91,000 Maino Shoro Line 6s assumed, duo 1923; also
Operating oxpenses............................... 39,431,789 45.012,305 44,810,880
$40,500 Belfast & Moosehead Lako mtge. 4s (not tax-axempt), duo 1920,
Net earnings...................
.$12,174,226 $14,894,162 $14,654,819 not guaranteed, int. and sk. fd. paid out of rental; And. & Ken. stock
Net, including investments, &c_____$15,603,822 $17,782,149 $17,722,351 bonds, $11,000, exchangeable for M . C. stock; the A. & K. stock bonds are
Included in the above outstanding stock. V. 95. p. 1332.
Taxes, & c .-------------2,142,778
2.606,0071,761,626
Guarantees bonds of Portland Terminal Co. See that company.
Interest and r e n t .........................
8,509,280
8,126,0037,401,602
Advances to S. & N . A ., &c________
______
.
C r . 109,937
EARNINGS.— 10 m os.,(1915-16___ Gross, $9,852,363; not, $3,076,294
Sinking fund payments-..................
91,622
405,275268,761
July 1 to April 30.
\1914-15___ Gross, 9,435,421; not, 2,657,515
Dividends............................................... (5)3,600,000 (7)5,040,000 (7)4,618,733
ANNUAL R E PO RT.— Report for 1914-15 was In V. 101, p. 1090.
Surplus over dividends.....................$1,260,142 $1,604,863 $3,761,565
Y e a r e n d in g
1914-15.
1913-14.
Y e a r e n d in g
1914-15.
1913-14.
OFFICERS.— Chairman, Henry Walters, Balt.; Pres., M . II. Smith.
J u n e 30—
S
$
J u n e 30—■
$
$
Louisville; 1st V .-P ., W. L. Mapother, Louisville; 2d V .-P ., E. L. Smithers- Gross earns.. 11,350,423 11,833,989 Divs. ( 6 % )-. 1,483,002 1.491.797
Office, 71 B ’way, N . Y .— (V. 102, p. 251, 713, 886, 1540.)
Net Incom e.. 3,368,061 3,138,703 Invested
in
554,114
387,631
phys. prop.
74,643
LYKENS VALLEY RR. & COAL CO.— Owns from Mlllersburg, Pa., to Interest paid.
40,051
38.128
Wllllamstown, Pa., 20 miles. New lease to Northern Central for 99 years Rents, &c____ 1.195.867 1,364,883 Sinking fund.
from July 1 1910 provides for annual rental of 524,000 (equal to 4% on
Balanco. . .sur .$20,384 df.$143,736
stock) organization expenses and taxes. V. 92, p. 527. Dividends paid In
Pres., Morris McDonald. Directors, V. 99, p. 1215.— (V. 102, p. 976,
1910. 7 X % : 1911 to July 1915, 4% yearly.
1163, 1250, 1346, 2254.)
MACON & BIRMINGHAM RY.— Owns Sofkee Jet. to La Grange, Ga.;
96.87 miles. Electric passenger train service was begun Aug. 7 1915.
MAINE RAILW AYS COS.— In Juno 1916 all tho holdings of Maino
V. 101, p. 449. In 1908 a receiver was appointed; now John B. Munson. Contral R R . stock having been sold, tho remainder ($2,492,000) of tho col­
V. 86, p. 337. In year 1914-15. gross, $128,743; net, $41,863; other in­ lateral notes was called for payment on Oct. 1 1916 at tho Old Colony Trust
come, $474; Int., hiro, equip., &c., $16,582; bal., dof., $57,929.— (V. 86. Co., Boston, at par and int. Tho right to convert tho convertible notes
p. 337; V. 91. p. 945; V. 101, p. 449.)
' (between Nos. 1 and 5,000) will oxpiro July 15 1916.— (V. 101, p. 694, 923;
A1ACON DUBLIN & SAVANNAH RR.— Owns road from Macon to V. 102, p .66,1250.)
Vldalia, Ga., 92 miles. Stock, 53,200,000 auth.; outstanding, 52,040,000
MANCHESTER & LAWRENCE RR.— Owns from Manchester, N. H ., t°
(par $100). Seaboard Air Lino Ry. guarantees bonds, prln. and Interest.
V. 89, p. 43: V. 84, p. 102, 450. For year ending Juno 30 1914-15, gross, Methuen (State Line), 22 H miles. Leased for 50 years from Sept 1 1887 t°
Boston
& Maine at rental paying 10% dlv. In Apr. ’ l l B. & M. received
$452,579; net, $109,104; other income, S2.716; int., rentals, &c ., $123,753
bal., def., $11,932. In 1913-14, gross, $541,192; net, $109,454. Pres., authority to purchase stock. V. 92, p. 1108. In 1895 a dlv. of 50% paid
James A. Blair Jr., N . Y .; Sec. & Treas., J. Ii. Frink.— (V. 100, p. 1078.) from proceeds of C. A M. suit.— (V. 73, p. 1264.)
MACON TERA1INAL CO.— Building a union passenger station at Macon,
Ga., to bo used by Central of Georgia, Georgia Southern & Florida and
Southern R y ., which own the $100,000 stock and guarantee the bonds,
prln. and Int., by endorsement. Rontal on wheelage basis covers int. on
bonds and all charges. Of tho 1st 5s ($3,000,000 auth. issue). $1,600,000
has been sold. V. 101, p. 1886.— (V. 101. p. 527, 1465. 1886.)
MAHONING COAL R R .— Owns from Youngstown to Andover, O., and
branches, 71 miles. In December 1907 purchased a one-half Interest in
the Lake Erie & Eastern R R . in Youngstown, &c.
Leased In perpetuity for 40% o f gross earnings to Lake Shoro (now N . Y .
Central), which Jan. 11916 ownod $865,900 common and $399,500 pref. stk.
D1VS.— V92. ’93. ’94. ’95-’06. ’07-’09. TO. ’ l l . ’ 12 T3. '14. 15. 1916.
On common/ 8M 8
8 10 yrly 12 yrly 66 70 20 70 60 60
text
In 1915 and 1916, with rogular 20% p. a. (F. & A.) paid in Juno 30% ext.
The preferred stock certificates are 5% guaranteed and contain a clause
making them redeemable at par at option of company.
Year ending Dee. 31 1915. rental and other Income, $1,322,176; surplus
over Int. and 50% on com. and 5% on prof., $461,118.— (V. 102, p. 2077.)
MAINE CENTRAL RR.— Line of road, Portland to Vanceboro, Me., via
Augusta, 267 m. (incl. trackage Portland to Falmouth, 7 m .); branches.
Royal Jet. to Skowhegan via Lewiston, 90 m.; Bath to Lewiston and Farm­
ington. 79 m.: Oakland to Kineo Sta.. 95 m.; Portland and Rumford Falls
System, 102 m.; Oquossoc to Kennebago, 11 m.; Bath to Rockland. Incl.
ferry (0.60 m .), 49 in.; Bolfast, Harmony, Foxcroft, Bucksport and M t.
Desert, incl. ferry (7.7 m .), 150 m.; Washington County, 139 m.; Portland
to St. Johnsbury, V t., 138 m. Incl. trackage, 0.11m. St. Johnsbury Sta.,
and 8.27 m. from Portland Union Sta. to Windham Lino, iMo.; Quebec
Jet., N. H .. to Limo Ridge, P. Q., 108 m.; total, 1,228 miles, of which
655 owned, 540 operated under leases, 15 trackage and 8 ferry. Also leases
from Jan. 1 1915 part o f St. Johnsbury & Lake Champlain R R . from St.
Johnsbury to Lunonborg, 23 miles, and 5-mile branch. V. 101, p. 846.
In Aug. 1911 purchased entire stock of Sandy River & Rangelcy Lakes
RR ., a 2-ft. gauge road extending from Farmington to Marbles, Me.,




MANHATTAN RY. (ELEVATED).— Owns all tho elevated railroads In
boroughs of Manhattan and the Bronx, N. Y. City, main line and branches,
37 h miles, double-tracked, with 4214 miles additional third track, sidings,
&c.; total track, 118 miles; 3d rail electric. The 2d, 3d and 9th Ave. linos,
under agroemont with the city mado in March 1913, had in Jan. 1916 boon
largoly 3-tracked. See Intorborough Rapid Transit Co.
LEASE.— The Interborough Rapid Transit Co. leases the road for 999
years from Nov. 1 1875, guaranteeing 7% per annum on tho stock. V. 75,
p. 1202, 1302; V. 76, p. 212; V. 79, p. 2456; V. 96, p. 791; also Intorborough
Rapid Transit C o., V. 76, p. 101. Guaranty, V. 76, p. 480.
BONDS.— Consols beyond 540,000,000 may bo Issued for extensions at
5300,000 per mile of single and 5600,000 per mile of double track. Of tho
bonds. 511,712,00O arc tax-exempt. (See mtge. V.51. p. 248, V.87,p.285.)
In Fob. 1916 S4,523,000 4% 2d M . bonds wero sold to rolmburso tho Interborougn R. T . Co. for improvements and additions furnished under lease,
&c. Tho 2d mtge. is mado superior in lion to tho loaso of tho proporty to
the Intorborough. V. 102. p. 609, 712, 800; V. 97, p. 1115,1504.
To 1898 claims aggregating 58.847,854 had been paid as damages to
abutting property. In 1907-09 paid franchise tax 1900 to '08 (54,876.545).
REPORT ( Y e a r e n d . J u n e 30)—
1914-15.
1913-14.
1912-13.
Gross operating revenue.....................$15,589,948 $15,954,838 S15,689,916
Not, after taxes..................................... 7,160,098 7,528,843
7,340,103
Gross incomo............._.......................... 7,299,223
7,588,556
7,393.547
Interest and rontal paid....................... 1,682,657 1,682,657
1,065,157
Dividends ( 7 % ) ................................... 4,200,000 4,200,000
4,200,000
Balance, surplus...............................$1,416,566 $1,705,899 $1,528,390
Pres., Edgar L. Marston; Vice-Pros., John H. McClomont; Sec. and
Troas., D. W. McWilliams.— (V. 102, p. 609, 713, 800.)
AtANILA RR.— {G a u g e, 3 f t . 6 i n .) — This company, organized In New Jcrsoy In 1906, has taken over and Is operating tho only steam road on the
Island of Luzon, Philippine Islands, 550mllcs (V. 88, p. 1313; V. 91, p. 215.)

June , 191G.]

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b re v ia tio n s , & c ., see notes on f i r s t p a g e . 1

Maine Central (C o n clu d ed ) — G u a ra n teed I s s u e s —
.
European & Nor Am stir 5% rental 1)99 years-----• Portland &Ogdensburg stock (2% rental 999 yrs)
1st M g uar prln & lnt end (V 80, p 1285)-----------z
Dexter & Piscataquis stock 5% rental 999 years..
First M Dexter to Foxcroft &c guar byend._BBz
Hereford Ry stock (rental 999 years)------------------First mortgage guar prln and lnt (endorsed)---- z
Upper Coos RR stock 6% rental 999 y e a r s.............
1st M and Exten M ($093,000 4)4s) guar p & l.z
Dexter Sc Newport stock 5 % _____________________
First M (old (Vj refunded In 1897) guar p&l end zc*
East Maine stk 4 H % rental 999 years------------------Portland Union RySta series “ A ” Sc “ 13" (text) _s f z
Portland Term new M $10,000,000 g gu xc*ftr (text)
Portland & Rumford Falls R R — See that company
Maine Railways— Notes gold red p a r . . . - - - - - - - - - - Manchester & Lawrence—Stk 10% rent till 37 B & M
Plain bonds (not mtgc) lnt guar by B & M -------- zc
Manhattan (Elevated) Ry, N Y— Stock $00,000,000..
Manhattan Elev cons (now 1st) mtge gold.Ce.xc* &r
2d M $5,409,000 g call at 105 (see text)--------- Eq
Manila— 1st M Sou Lines g lnt gu s f red ll0P --xc*& r*
Now 1st M on Nor Lines proposed 1910 $13,230,000
Manistique & Lake Sup— Inc M 4% n-c $1,300,000 _z
Manist & N E— 1st M g due 40M y ’ly red text.CC.xc*
Manitou & Pike’ s Peak Ry— 1st M $500,000 g-.F .xc*
Manltoulln & North Shore— See Algoina Eastern R y .
Marietta Columbus & Clev— 1st M $250,000 gold.Colz
Marshall & East Texas— 1st M gold call 102 ..SSt.xc*
Maryland & Pennsylvania— York & Peach Bot M ..x
First mortgage $1,200,000 gold call at 105-MeBa.xc*
Income mortgage $900,000 4% cum call p a r .. MeBa
Notes $500,000 gold red 1023$..-----------MeBa.xc*
Maryland Sc Pa Ter 1st M $200,000 g gu red llO -.x x
Mason City & Ft Dodge— 1st M g -------------- Ce.xc&r
Mnssa winni—Stock guar same dlv as Conn Sc Pass—
McCloud River— First mortgage $1.200,000------------ x

M ile s
D ate
R oad Bonds

126
11(1
11(1
17
17
53
53
55
55
14
14
19
—
22
37
37
37
68
165
9
44
18
71
92
4C
8C
« 8C

1908
1889
1890
1890
1897
'S7-’89
1911

R ate
%

5
$100 $2,494,100
2
100 4,392,538
4X
1,000 2.119,000
5
100
122,000
1,000
175,000
4
4
100
800,000
4
800,000
1,000
350,000
6
100
500 &c
1,043.000 4 ft 4>4
122,000
5
100
4
175,000
1,000
200,000
4M
100
4
300,000
1,000
4g
1,000 &c 4,500.000

W hen
P a y a b le

A &
Q - -F
M ft
J ft
J ft
M Sc
M Sc
M &
M ft
.) &
M Sc
M Sc
J ft
J &

L a s t D iv id e n d
a n d M a t u r it y

1892

1890
1902
1905
1911
1882
1901
1901
1913
1906
378 1905
37
1907

1,009
50)
1,00)
1,00)
50 ft :
1 000
1.000
100 &c

250,000
5g
6
175.000
2,000,000
5g
1,180,000
5g
202,450
5
4g
897,000
900,000 See te x t
300.000
6g
200,000
5g
l.'O )
4g
• 1.(00 12,000,000
6
:o o
800,000
5
4$1,(00 SI.200,000

M
J
F
.r
M
M
A
J
M
J
F
A

P la c e s W h ere In terest a n d
D iv id e n d s a re P a y a b le

Treas office, Bangor, M e
O July 15 1916
28 M ay 28 ’ 16 >4% Maine Cent Off, Portland
N Y , Boston & Portland
N Nov 1 1928
.1 Jan 1 ’ 16 2)4% Office, Dover, Me
Bos Safe Dep ft Tr Co
.1 July 1 1929
Treas office, Portland
N M ay 1916 2%
N Y, Boston & Portland
N May 1 1930
Office, Portland, Me
N M ay 1916 3%
N Y , Boston ft Portland
N May 1 1930
.1 Jan 1916 2)4% Treasurer’s office, P’tl’d
N Y , Boston & Portland
S Sept 1 1917
N M ay 1916 2 H% Office, Rockland, Me
J July '27-Jan ’ 29 Fidelity Tr Co, Portland
do
do
J July 1 1961

A ft O Oct. 1 1916
5g
1,000 2,492,000
M Sc N M ay 1 1916 5%
10
100 1,000,000
4
J Sc J Jan 1 1922
274,000
1,000
7
100 60.000,000
C>— r July 1 1916 1 H
1890 J 1,000 &c 40,684,000
4 g A ft o Apr 11990
1913
4.523,000
4 g J & D June 1 2013
1909 1.000 &c 10.575.000
4 g M Sc N Mav 1 1939
1916
1956
(See text)
5
1909
1,100,000 Up to 4 M & S Aug 11934
1,000
J & .) Jan 1917-1939
1909
1.251.000
5g
1,000
1908
500,000
1,000
5 g A Sc o Oct 1 1928

1914

In operation Dec. 1914, 315.4 miles o f Northern lines and 235 miles
Southern lines. On Dec. 31 1914,100 miles o f road was under construction.
Of the stock, $3,652,800 7% cum. pref. and $2,130,700 common, all but
directors’ shares aro hold by the Manila Ity. (1906), Ltd. (see below). In
Feb. 1910, Philippine Commission authorized purchase o f all the outstand­
ing stock by the Philippine Govt, for $4,000,000 cash. V. 102, p. 609, 251,
2166.
BONDS.— The Manila RR. (Southern Lines) 1st gold 4s of 1909, guar­
anteed as to Interest by the Philippine Government under Act of U. S. Con­
gress, are limited to $30,000,000, of which $10,575,000 have been Issued.
The bonds are redeemable as a whole at any time at 110 or by lot for a sink­
ing fund of >4 of 1% yearly from May 1 1919 to Apr. 30 1928, and 1% yearly
thereafter. V. 91, p. 215. 276. 717; V. 01, p. 1711; V. 93. p. 45.
In June 1916, under agroamont for sale o f the capital stock to tho Philip­
pine Govt., it was proposed, with other provisions: (1) To cancel the North­
ern Dlv. ($4,330,000) 6% 1st M . bonds and ($7,716,000) 7% 2d M . bonds
(pledgod as part security for tho “ A " and “ B " debenture stocks and bonds
of tho English company) and to issuo in lieu thereof $13,236,000 now 1st M .
5% 40-year bonds. (2) T o apply not over £590,000 o f tho $4,000,000 pur­
chase prieo to payment of loans of Manila Ity. (tho English c o .), canceling
tho A & B deb. stock pledged therefor and so reducing the nominal issues
of its dob. stock (and bonds) to tho amounts heretofore sold, viz., £2,000,000
Class A 4% and £1,880,000 Class B, tho interest rate on tho latter to bo re­
duced from 4% to 3 )4 % . The A and B issues will then bo first and second
chargos, respectively, on the $13,236,000 now 1st M . 5% 40-year bonds of
tho American co. and on about $2,000,000 Southern Lines 1st M . 4s. Soe
also V. 102, p. 2166.
R E PO RT.— Report for cal. year 1914, In V. 101, p. 842, showed; Gross,
$2,496,367; not, after taxes, $1,011,430; othor Income, $157,188; charges,
$1,227,061: bal., dof.. $58,444.
DIRECTO RS AND OFFICERS.— Horace L. Higgins (Pros. ft Gen.
M gr.), Manila; E. M . Ileberd, N . Y ., Is Sec. & Troas. Offlco, 45 Nassau
St.— (V. 102, p. 251. 609, 2166.)
MANISTEE & NORTHEASTERN RR.— Owns from Manistee, Mich., to
Traverse City, 71 m.; Solon to Provemont, 15 m.; Platte River to Empire,
Jet., 17 m.; other, 80 m.; sidings and spurs, 53 m.; leased, 1 m .; operated
under contract, 6 m.: total, 243 miles. Stock, $2,000,000.
Of the bonds ($1,500,000), $40,000 mature Jan. 1 yearly from 1912 to
1938. Sinking fund of 50% of surplus Income, beginning July 1 1910, is
to bo used to call bonds by lot at 102 34 and Interest until $1,000,000 have
been cancolod. V. 88, p. 375, 823; V. 90, p. 1363. Report for 1915 in
V. 101, ]>. 769, showed: Gross, $469,797; not. $63,623; hire of equip. (Cr.).
$2,374; interest paid, $71,702; balance, doficit, $5,706.
EARNINGS.— 10 mos., {1915-16........ .Gross, $4)4,177; not, $78,685
July I to Apr. 30.
\1914-15........ Gross, 408,742; not, 52,189
Pros., Edw. Buckley, Manistee, M ich.— (V. 101, p. 769; V. 102,p. 1436.)
MANISTIQUE & LAKE SUPERIOR RR.— Manistique. Mich., on Lake
Michigan, northerly to Evelyn, 42 m.; branch to Doyles, 15 m.; V. 81, p.
975; V. 87, p. 97: V. 89. p. 470. The Ann Arbor RR. In Apr. 1911 ac­
quired the entire $250,000 stock. V. 92. p. 1109. Bonds auth., $1,300.­
000 25-year 4% non-cum. Incomes. For year ending Juno 30 1915, gross,
$132,908; net, $26,267; othor income, $871; int., taxes, &c., $25,633; bal.,
sur., $1,505. In 1913-14, gross, $168,019; not, $31,495. Pres, and Gen.
M an., Alfred W . Towsley, Toledo, O.— (V. 92, p. 1109.)
MANITOU & PIKE’ S PEAK RY.— Manitou, Col., to summit of Pike’8
Peak, 8.9 miles; standard gauge. Operated from April to November yrly
Stock. $500,000; par o f sharos, $100. D lv., 40% paid in 1913-14. In
Oct. 1909 $500,000 20-year 5s were issued to replace old maturing bonds.
For year ending Nov. 30 1914, gross, $66,395; not, $14,209; othor income
$1,638; int., $25,000; taxes $3,925; bal., def., $13,078, Pros., O. W
Sells. Manitou. Colo.— (V. 89. p. 847.)
MARIETTA COLUMBUS & CLEVELAND RR.— Owns Moore’s Jet. to
Palos. O., 41.09 miles; branches and spurs, 4.18 m.; trackage.Marietta to
M ooro’s Jet., 3.2 m. On July 10 1914 D. B. Torpcy was appointed re­
ceiver. Foreclosure sale sot for July 1916; upsot price $100,000. V. 102,
p. 2166. V. 99, p. 120. Bonds, see table
For year ended Juno 30 1914,
gross, $105,042; not, $13,114. In 1914-15, gross, $105,518.— (V. 102, p.
2166.)
MARION & RYE VALLEY R Y .— Owns Marlon to Sugar Grove. Va.
18 miles. A reorganization in Juno 1900. Controlled by United States
Spruce Lumber Co. Stock. S100.000; par, 8100. Bonds $175,000 6s, see
table above. V. 95, p. 1472. Car trusts June 30 1914, $27,825. Year
ending Juno 30 1914, gross, $79,608; net, $27,795; othor income, $30; Int.,
&c., $18,926; bal.. sur., $8,899. Pros. & Gen. Man., J. c . Campbell;
Troas., L. A. Amsler; Sec. & Aud., B. S. Charlton, Marlon, Va.— (V. 95,
p. 1472.)
MARSHALL & EAST TEXAS RY.— Owns from Elyslan Fields, 18 miles
south of Marshall, Tex., on Tex. Sc Pac.. to YVlnnsboro. on M. K. ft T. 92 m.;
2 branchos, 4 miles. Extension projected in 1915 (a) north from Winnosboro to Paris, 55 miles; (b) south from Elyslan Fields to Newton, 110 miles,
(c) Hemphill to Pickering, 40 miles.
Controlled by Interests represented by St. Louis Union Trust Co. Suc­
cessor to Texas Southern R y.. foreclosed Aug. 4 1908. V. 87. p. 416, 481.
Stock outstanding, $200,000. 1st M . 20-year 5s ($5,000,000 auth.), soe
V. 93, j). 589, 1787. Loans and bills payable Juno 30 1915, $277,605; car
trusts, $2,750. For year ending Juno 30 1915, gross, $160,772; oper. dof.,
$21,275; taxes and rontals, $9,492; bond int. not paid. Pres., Albert T .
Perkins, St. Louis, M o.; V.-P. & Asst. Sec., Osco Goodwin, Dallas, Tex.;
Sec., Bryan Snyder, and Troas., E. Koy, Marshall, Tox.— (V. 93, p. 1787.)
A1ARY LAND DELAWARE & VIRGINIA RY.— Operates Love Pt.. Md..
to Lewes. Del., 72 miles; Queenstown Jet. to Centerville, Md., 5 m.; total,
77 m.; and Lewes to Rchoboth, 5 m.. Is trackage over Del. M. ft Vlr. Also
owns 14 steamers on tho Potomac River, &c., but on Aug. 20 1914 was
ordered to dispose of practically all its water lines by April 1 1916. V. 101
p. 694.




A m ount
O u tsta n d in g

Par
V a lu e

79

Old Colony Tr Co, Bos
Manchester, New Hamp
Bost & Me R R , Boston
165 Broadway, N Y
Equit Trust Co, N Y
New York
N Y, London, &c
Detroit
N Y & Grand Rapids
New York and Chicago

A N Nov 11940
In default
Bank of Marion (V a.).
ft J July 1 1922
Treasurer’s Office, Phila
ft A Feb 1 1955
St Louis Union Trust Co
Sc J Jan 1 1931
SeeTle.ft T r.C o. York,Pa
& S Apr 1 1932
Brown Bros, N Y & Balt
A S Moh 11951
do
do
& () Apr 1 1951
Alex Brown & Sons, Balt
ft J Oct 1 1923
do
do
& N May 1 1936
.T P Morgan & Co. N Y
ft D June 1 1955
& A Feb 1 1916, 3% Safe Dep & Tr Co, Bost
Mercantile Tr Co, San Fr
& O Apr 1 1937

Stock. $3,000,000, of which one-half each of common and 4% non-cum.
pref.; par of shares. $50 each; 4% ctfs. of Indebtedness, due Dec. 5 1909.
857,000; loans and bills payable Dec. 31 1915, $689,290. Penn. R R . and
its subsidiaries own all the common and about $300,000 pref. stock. Bait.
Ches. ft Atlantic owning a majority of stock and guaranteeing bonds. In
1915, gross, $904,155: net. $46,054; other income. $8,239: charges. 8177,­
100; bal., def.. $122,807. Year 1914. gross, $919,285; net, $94,072.—
(V. 100, p. 1168; V. 101, p. 694; V. 102, p. 1346.)
MARYLAND & PENNSYLVANIA RR.— Baltimore, Md , to York. P a..
78.9 miles. V. 72, p. 339. In 1910 obtained right to build to tidewater.
STOCK AND BONDS.— Stock authorized. $3,600,000. of which 51,997,­
500 reserved for conversion of notes (see below) and future requirements.
In 1902 the authorized issue of the first 4s was reduced from $2,700,000 to
$1,200,000, of which $203,000 are reserved to retire the York and Peach
Bottom 5s and $100,000 additional for future purposos, &c. V. 74, p. 94,
427; V. 79, p. 2205. Of the 6% notes of 1913 ($500,000 authorized issuo).
$300,000 have been sold. They are convertible into common stock at
$50 per share up to July 1 1923. No mortgage can be made without pro­
viding for the notes. V. 97, p. 1115, 951. Maryland & Pennsylvania Ter­
minal guaranteed bonds. V. 82, p. 1041, 1102. Equipment notes June
1916, $52,500. V. 96. p. 203. Paid on incomes. 1901. 3 % : 1902 to Apr.
1914, incl., 4% yearly (2% A , & O.); none since to and Incl. Oct. 1 1915.
V. 101, p. 1092.
EARNINGS.— 10 mos., /1915-16.......... Gross, $398,007; net, $107,778
July 1 to Apr. 30.
\1914-15.......... Gross, 435,150; net.
96,953
REPORT.— For year ending Dec. 31 1915* gross, $480,084' net, $115,­
717; int., taxes, &c., $101,968: bal.. sur., $13,749. In 1914, gross, $528 322. Pres., O. H. Nance.— (V. 100, p. 397; V. 101, p. 1092, 1973.)
MASON CITY & FORT DODOE RR.— (S e e M a p C h ic a g o G rea t W estern .)
— Owns road from Oelweln, la ., to Council Bluffs, 259 miles; Hayfleld, Minn,
to Clarion, Iowa. 100 miles; branches to Lehigh and Coalville, Iowa, 19
miles; trackage. Council Bluffs to South Omaha, 8 miles, total. 386 miles.
The Chicago Great Western owns entire outstanding com. stock ($19,205,­
400 of the auth. $20,000,000) and the non-cum. 4% pref. stock ($13 635.­
752 of the $14,000,000 auth.), and operates the road as part of its main line
to Omaha under a 100-year agreement dated Apr. 30 1901, and modlfled
June 1904. M. C.ft Ft.D.receiving 60% of earns, on business interchanged.
The accounts showed a deficit June 30 1912. See V. 95, p. 1274. In 1905
$12,000,000 4% bonds were sold. Compare Chic. Great Western R y. and
V. 73, p. 566, 616. 722; V. 77. p. 640; V. 78. p. 1782; V. 80, p. 2621.
Earns, incl. in those of C. G. W . system.— (V.95.P.1274; V . 99, p. 1451.)
MASSAWIPPI VALLEY RY.— Province Line to Lenoxville, Que„ 34
miles, with branch, 3 m ; trackage to Sherbrooke, Que., 3 m.; total, 40 m.
Leased for 999 years from July 1 1870 to the Connecticut & Passumpsic
Rivers RR. Stock, $800,000; par of shares, 5100; dividends payable Feb.
and Aug. 1. Dividends, formerly 5% . 6% since Jan. 1 '97. Of the stock,
$400,000 owned by the Conn. & Pass. River is deposited under Its mtge. and
$50,000 represented by Connecticut Trust & Safe Deposit Co. of Hartford
5% trust certificates was purchased Feb. 1 1910 under its option at par.
In April 1911 Bos. & Maine rec’d authority to purch. stk. V. 92, p. 1108.
McCLOUD RIVER RR.— Owns from Sisson, Cal., to McGavlc, 50.6 miles
Stock, $1,200,000. Bonds ($1,200,000 auth.). Mercantile Trust Co.. San
Francisco, mtge. trustee. V. 85, p. 1005. For year ending June 30 1915,
gross, $295,229; net, $39,701; other income, $6,834; int., &c., $68,881; bal..
def., $22,346. In 1913-14. gross, S341.592; net, S89.498: other income,
$25; int., taxes. &c., 880,637; bal., sur., S8.886. Pres., J. H. McQueal,
San Francisco.— (V. 85, p. 1005.)
MEADVILLE CONNEAUT LAKE & LINESVILLE.— Meadville to Lines
vllle. P a., 20.5 miles, and branches, 1 mile- total, 21.5 mlies. Leased
to July 1 1990 to Pittsburgh Bessemer & Lake Erie R R .: rental, 25% of
gross earnings. Stock,$200,000; par, $50. Dividend in 1913 to Apr 1916,
4% (2% A. & O .). For year ending Juno 30 1915, gross, $19,513; net, $18,347'
bond int., $10,000; divs. (4 % ), $8,000; bal., sur., $347.— (V. 9 6 .p. 709.)
MEMPHIS DALLAS & GULF R R .— Owns from Ashdown to Hot
Springs, Ark., 114 miles: Ashdown to Texarkana, 20 m.; Graysonia to
Leard, 6 m.; Daleville to Dalark, 11 m.; total, 151 miles. Extensions pro­
posed north to Memphis, Tenn., 255 miles, and south to Dallas, Tex.; 186 m.
Stock authorized. S3,600,000; par, $100: outstanding $1,027,000. Of
tho 1st and ref. 30-year gold 6s ($3,600,000 auth. issue), $1,015,000 were
issuablo at once, S420.000 are reserved to retire tho $420,000 Memphis
Paris ft Gulf 6s, which aro guaranteed principal and interest by Nash­
ville (Ark.) Lumber Co., and $2,165,000 for road acquired or constructed
at $18,000 per mile in 5-miie sections; they are redeemable at 101 and lnt.
to Jan. I 1918 at 103 and int. thereafter; outstanding June 30 1915, $558.­
000. V. 96, p. 237, 887. Car trusts M ay 31 1914, $15,669; loans and bills
payable, $772,792.
For vear ending Juno 30 1915, gross, S274.439; net, $42,909; interest. &c.,
$45,571; bal., def., S2.662.
Pres., W . W. Brown, Camden, Ark.: V.-P. & Gen. M gr., C. C. Hender­
son; V .-P ., A. C. Ramsey; Sec., J. W. Bishop; Treas., W. II. Toland.
— (V. 97. p. 887.)
MEMPHIS UNION STATION CO.— Owns union passenger station at
Memphis, Tenn., used by Louisv. ft Nashv., Nashv. Chatt. & St. Louis;
Southern R y ., St. L. Iron Mtn. ft So. and St. Louis Southw., used since
April 1 1912. Interest charges and expenses are apportioned among the
lines on the user basis. Stock, $100,000, owned equally by five roads
named. In N ov. 1909 made a mtge. to the Bankers Trust Co. of N . Y .,
as trustee, to secure an issue o f $3,000,000 6% gold bonds, guar. Jointly
by five roads named. V. 97, p. 1025; V . 93. p. 1324; V. 89, p. 1411,1542;
V. 90. p. 236; V . 91. p. 94.— (V. 97. p. 1025.)
MERIDIAN & MEMPHIS R R .— Meridian, Miss., to Union, 40 miles,
completed December 1913. Has large terminals at Meridian. Stock
auth., 5500,000. Bonds, $800,000 30-yr. 5s, Union Bank & Tr. C o. of

80

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[ F o r a b b re v ia tio n s , A c . , see notes o n f i r s t p age]

M ile s
Road

D ate
Bonds

Par
V a lu e

Am ount
O u tsta n d in g

R a te
%

W hen
P a y a b le

[Vol. 102
L a s t D i v id e n d
a n d M a tu r it y

Mendville Conneaut Lake & Lincsville— First m tge.-z
22 1891
1.000
J A J July 1 1921
200,000
5
__ 1913 1,000 Ac
Mem Dal&G— lst&refM$3,600.000g red textMStxc*
See text
6 g J Sc J July 1 1943
__ 1908
Mem Paris A Gulf— 1st M gold red 103 begin 1919.x
1,000
420,000
6 g .T & .TJan 1 1928
__ 1913 1,000 Ac
Memphis Union S tation— 1st M g guar__Ba.xc*r*
M A N Nov 1 1959
2,500.000
5g
__ 1913
Meridian & Memphis RR— 1st M $800,000 red 105..
1,000 See text
J &
5
J Jan 1 1943
__ 1905 1,000 Ac
Meridtan Terminal— First M $250,000 g gu ..G xc*A r
250,000
M & N May 1 1955
4g
Mexican Central— Mexican International— See Nation al Rail ways o f Mexico
Mexican Mineral— 1st M $500,000 g red 110 s f ___ Gx
16 1899
b326,000
F & A Aug 11919
6g
Mexican Northern— Stock, $3,000,000____________ _
100 3,000,000
May 1 ’ 13 1)4%
First mtge U S gold red 105 s f ext In 1909-Ci.xc*&r
83 1890
1,000
a708,000
6 g J & D Deo 1 1930
Mexican Ry Limited— Ordinary share capital stock ..
£10 £2,254,720
Nov 6 ’ 13,1 X %
First preference stock 8 % ________________________
£10 £2,554,100
Nov 6 ’ 13, 4%
Second preference stock 6 % _____________________
£10 £1,011,960
Nov 6 ’ 13, 3%
Perpetual 6% debenture stock___________________
375 ____
£10 £2,000,000
6
J & J Perpetual
2d debens £1,000,000 auth red par since 1912 s f_.
__ 1909
£100
A A O Dec 1960
£481,400
4 .X
Mexican Southern Ry— Ordinary stock, £1,000,000..
F
A See text
£1,000,000
__ 1896
lst M 4% deb stock £1,000,000 red at par 90 yrs__
4
F & A See text
£864.000
Prior lien bonds_________________________________
1913
6
1928
Mex No West— Prior lien bonds £2,500,000 red 102 X
1913
£100 £1,671,000
6
1928
.
1st M gold red t e x t _____________________
__ 1909
£100 £5,600,000
5 g M & S Mch 1 1959
Conv Income bds £1,000.000 6% cum red par s flc*
__ 1912
£20 Ac
£750,000 Up to 6 M A S15
Equipment gold bonds £480,000_______ __________
(?)
5
Michigan Central— Stock______________________ .
__ ____
$100 C$18738000 See text J A J
First mortgage $18,000,000 gold_________ G.xc*&r
270 1902 1,000 Ac 18,000,000
3 « g M & N May 1 1952
M C Michigan Air Line first mortgage____Un.xcAr
115 1890 1.000 Ac
J & J'
2,600.000
1 1940
4
1st M on DetA Bay C ity_____________________ Un.zc
171 1881
1,000 J 4,000,000 1
M & S Mch 1 1931
5
do
do
bonds without coupons., zr
171 1881 1,000 Ac
Q— M Mch 1 1931
l
5
Debentures gold____________
G .xc’ Ar*
__ 1909
l.OOOAc 7.634.000
A A o
4g
M C new M on Gr RivVal $4,500,000, g text.Gxc&r
84 1909
1,500,000
M A s
4g
M C first mortgage on Kalamazoo & S Haven.xUn.r
39 1889
l.OOOAc
700,000
M A N Nov 11939
5
Mich Cent 1st M on Jack Lans A Saginaw g _.xc*Ar
379 1901
1,000
1.708,000
3X g M A R
M C 1st M on Joliet & Nor Indiana $3,000,000 g .x
1907
45
1,500.000
4 g J & J 10
Equip. Tr. $4,500,000 ($450,000 duo s-a) guar, gyc*
__ 1915
1,000 4,500,000
A & O To Oct 1 1930
5g
Jack Lans A Sag stock 3 X % yearly guar by end__
__ ____
100 2.000,000
M A s Mar 1 1916 1 H
3X
Grand River Valley stock rental In perpetuity _ x
84 ____
100
J & J Julyl '16. 2)4%
491,200
5
Bay City & Battle Cr 1st M g gu p & I en d .M p .zc’
18 1889
1,000
250,000
3 g J A D Deo 1 1989
Battle Cr & Sturgis 1st M g guar p & 1 end.Mp.zc*
41 1889
1.000
x421,000
3 g J A D Deo 1 1989
TolCanSo&Det lstM$4,500,000 g gu (end) G.xc’ &r.
59 1906 l.OOOAc
3.100.000
4 g J A J Jan 1 1956
Detroit Rlv Tun IstM $30,000,000 gu end__G.xc‘ r»
. - - 1911
1,000 18.000.000
\ x e M A N May 1 1961
a Exclusive of $31,000 held by sinking fund, b $2 4.000 addltlo nal in sin king
fund.
c Of which $16,819,300 held by N Y Central HR Co.
x An additio nal $79.0 00 is guar b y N Y Co ntral RR
Jackson, Tenn., trustee; present issue, $538,000. See table above. V. 96.
p. 1157,11298. Meridian & Deep Water R y. was building from Meridian west
to Tomblgbee River, 47 m. Pres., .1. T . Schley; Sec., E. B. McRavon;
Treas., C. W . Schamber. Office, Meridian, Miss.— (V. 96, p. 1298.)
MERIDIAN TERMINAL CO.— Owns passenger stations at Meridian,
Miss., opened Sept. 1 1906, and used by Southern R y., Mobile A Ohio, New
Orleans A Northeastern R R .. Ala. A Vicksburg and Ala. Great Southern,
which own one-fifth each o f the capital stock ($100,000) and guarantee tho
bonds jointly and severally by endorsement; form. V. 85. p. 601. Pres.,
Larz A. Jones; Sec.. W . J. Kelleher.— (V. 85, p. 601, 1402.)
MEXICAN NORTHERN RY.— Owns from Escalon, Mexico, on the Mexi­
can Central R y., to Sierra M ojada, 83 miles, all steel. See V. 64. p. 619.
Bonds, see V. 88, p. 1437, 1500; V. 89, p. 101; V. 91. p. 1026.
DIVS.— ,f’9 3 .’94. '95-’99. ’00. ’01. ’02. ’03. ’04-’08. ’09. ’ 10-’ 12. 1913
16
Per c e n t—
...16M
6 4 y ’ly.
5 4H 2H I X None. 13 4yrly l x . 0
REPORT.— For year ending Dec. 31 U. S. currency.
Y e a r—

G ro s s .

N e t.

O th . I n c o m e .

C h a rg e s .

B a la n c e .

def.$29,035
$40,703
$42,480
19 14..................
dof.$30,812
1913............... 47,565
8,186
26,653
44,991
def. 10,151
1912............... 178,878
85,507
58,135
40,799
sur. 92,843
-(V .8 8 ,p . 1500; V. 89. p. 104,1280: V . 91. p. 1026; V. 96, p. 1365.)
MEXICAN RY., LTD.—City of Mexico to Vera Cruz, 264 miles; Puebla
branch, Aplzaco to Puebla, 29 m.: Pachuca branch. Ometusco to Pachuca.
29 m.; Zacatlan branch (narrow gauge). 33 m.; Huatusco branch (narrow
gauge), 20 m.; Huajuapan branch narrow gauge. 28 miles; total Juno 30
1914, 403 miles. Jointly guarantees debentures of Vera Cruz Terminal Co.
On Nov. 18 1914 the military authorities took over the line and no returns
have been rendered to the company since.
DIVS. (Sbjce’04.)1905. 1906. 1907. 1908. 1909. 1910. 1911 1912. 1913.
~
8 7 3 _16 8
8
8
8
First ----prcf___ % \
5 X 7 1-16 8
Second pref. . % l __
1 X 4 13-16 3 H 1 5-16 4 7-16 6
6
6
Common____ %)
................
H 1 9-16 2 54
2X
The holders o f the perpetual deb. stock and 4)4 % 2d debentures on Jan. 7
1915 voted (a ) to defer until 1917 the payment of the 4 installments of in­
terest due In 1915 and 1916 and to issue certificates for tho samo bearing
6% and 4 X % interest, respectively, due on or beforo Jan. 1 and Apr. 1
1917, respectdvelyj^and (2) to omit the sink, fund for 2d deb. In 1915 and
EARN INGS.— For cal. year 1913, gross, $9,792,301, against $8,715,019
in 1912; not, $5,007,383, against $4,693,605; total net rev., £277,483; deb.,
&c., int., £150,096; bal., sur., £127,387. Office, Finsbury Court, Fins­
bury Pavement, London, E. C.— (V. 99, p. 1673; V. 100, p. 2291.)
MEXICAN SOUTHERN RY., L T D — Puebla to Oaxaca. Mex., 228 miles,
all narrow-gauge; branch, 31 m., Tehuacan to Esperanza; Oaxaca to San
Pablo, 16 m.; Oaxaca to Tlacolula, 20 m., opened Jan. 1912; other, 7 m.,
total, 302 miles; sidings, 19 miles. Tehuacan tram lines, 5 m., standard
gauge, and Oaxaca tram lines, 7 m., narrow gauge.
The road passes June 8^1990 to the Stato without payment, except for
stations, rolling stock, &c. V. 79, p. 2642. Leased from Jan. 1 1910 to
Interoceanic Ry. o f Mexico. See that company. The rental due June 30,
July 28 and Dec. 31 1914 and Jan. 28 and April 27 1915 are to be satisfied
by 5% deb. certificates redeemable from earnings. As no rentals have been
receive! from Interoceanic R y. for period subsequent to Juno 30 1914, an
extension o f tho moratorium for 2 years to M ay 29 1917 was agreed to.
V. 101, p. 130: V. 99, p. 48, 674.
(nt. on 2d debs, (now 1st) payable only out o f profits on Feb. 1 & Aug. 1.
OFFICERS.— Chairman, Sir Ernest Paget; Sec., Thos. Linton. 53 New
Broad St., London, E . C .— (V. 80, p. 222; V. 101, p. 130.)
MEXICAN UNION.— V.9S. p. 523. A1EXICANO DEL CENTRO RR.
V. 91, p. 215, 1630.
MEXICO NORTH WESTERN R Y.— Owns and controls 540)4 miles.
Ciudad Juarez to Tabalaopa
ILa Junta to Mlnaca__________ 6.34
(Chihuahua)---------------------475.78]Cumbre to Chulchupa(bulldlng)'(5.08
San Antonio to Cuslhulrlachlo. 13.051
Owns over 3,000,000 acres of timber lands, with 2 mills at Madera with a
capacity of 175,000,000 ft. per year, and 2 mills at Pearson with a capacity
of 250,000,000 ft. per year. Controls finishing, A c., plant at El Paso. Tex.,
capacity 100,000,000 ft. per year. See V. 88, p. 749; V. 89, p. 348, 470;
V. 94. p. 1627: V. 96, p. 287.
Stock. $40,000,000 (par S100). o f which $25,000,000 Issued.
BONDS.— Present limit 1st M . 5s, £8,459,700; issued, £5,600,000; may
be increased for extensions, terminals, double-tracking and other special
purposes: Nat. Trust Co. o f Toronto, trustee. Bonds are redeemable at
par Mar. 1 1959 by annual payments, commencing in 1919. to bo apnlied
In annual drawings at par or by purchase at or below par, or as a whole at
105. V. 88, p. 749; V. 93. p. 28. 1324, 1463; V. 95, p. 176. Coupons pay­
able at Bank of Scotland, London; Guaranty T r. C o., N. Y ., and Bank of
Commerce, Toronto. Tho payment of the Sept. 1913 coupons was deferred
because of disturbed conditions In Mexico which made operation of railway
and lumber mills impossible. V. 97, p. 521, 595.
As to 6% cumulative convertible income bonds, see V. 94, p. 1627.
The Issue of 15-year prior-lien 6% bonds is limited to £2,500.000. secured
by a prior lien on the entire property, o f which £1,671,000 have been sold.
The remaining £829,000 are reserved for future requirements, incl.
Int. on prior lien and 1st M . bonds. Red. at 1 0 2 X any time on 6 months’
notice. Trustee, Nat. Trust Co., Toronto, Ltd. V. 96, p. 285, 1229.
The payment o f the Sept. 1914 coupons was deferred, owing to financial
conditions in Europe and Mexico. V. 99, p. 674.
REPO RT.— Report for calendar year 1911 In V. 95, p. 478, showed:
Gross Income (American currency), $961,468; net Income, $460,581: other
Inc., $253,231; bond int., $849,162; gen.exp., $189,438: bal., d e f.,$324,788.




P la c e s W h e re In te re s t a n d
D iv id e n d s a re P a y a b le

Merch Nat Bk. Meadv.Pa
Miss Vail Tr Co, St L
Merc Tr Co, Little Rk, Ar
Bankers Trust Co, N Y
UnBk&TCo,Jacks’n,Ten
Guaranty Trust Co, N Y
82 Beaver Street, N Y
Office, 82 Beaver St, N Y
do
do
Glyn, Mills, Currie ACo.Lo
do
do
do
do
See text
See text
Sept 1914 coup deferred
Sept 13 coup deferred
1st coup Mch 1913
See text
Grand Cent Term’ l, N Y
Reg at G C T; cpat G Tr
Union Trust Co. N Y
do
do
Grand Central Term. NY
do
do
do
do
do
do
Reg at G C T; cp at G Tr
Guaranty Trust Co, N Y
do
do
Jackson, Mich
Union Trust Co, N Y
do
do
Grand Central Term, N Y
do
do

OFFICERS.— Pres., F. S. Pearson, N. Y .; V.-Ps., II. I. Mlllor, N. Y .;
Miller Lash, Toronto, Can.; J. O. Crockett, El Paso; Treas., U. do B. Daly,
Toronto; Soc., A. M . Trueb, N. Y . Office, 115 Broadway, N. Y .— (V. 97.
P. 521, 595; V. 99, p. 269, 674.)
MICHIGAN CENTRAL RR.— (S ee M a p s N e w Y o r k C e n tra l L in e s .)
— LINE OF ROAD.— Main line— Kensington to Detroit, 270 miles,
and Windsor to Suspension Bridge (Canada Southern), 226 m.; total main
line 496 miles. Branches owned and leased, 1,211 m.; trackage (111. Cent.)
Into Chicago under perpetual lease, 14 in.; other trackage, 82 m.: total
Jan. 1 1916, 1.803 miles, with 604 m. of 2d track and 1,509 m. of side tracks.
Chicago Kalamazoo & Saginaw Ry., Pavilion to Woodbury, Mich., 55 m..
and Detroit & Charlovoix. Frederic to East Jordan. 43 miles, are controlled
but operated independently. V. 84, p. 50. Tho shareholders voted
Juno 8 to purcliaso these and 15 other subsidiaries, including all those
mentioned in table above except Detroit River Tunnel Co. V. 102, p. 2254.
Third-rail electric Detroit River Tunnel, 2.42 in. long. Is leased for 99^ yrs .
See below. V. 90. p. 710; V. 91. p. 276; V. 92, p. 1499; V. 98, p. 236.
CONTROL.— The N. Y . Cent. & Hud. River R R . Co. In April 1898 gave
8115 In Its 3 X % 100-year gold bonds for $100 stock, and so holds $16,819,­
300 of the $18,738,000 stock issued. See that company’s statement (also
V. 93, p. 1787: V. 96, p. 1424, for proposition looking to ultimate merger.
DIVIDENDS.— f ’ 91. ’92-’94. ’ 95-’ 05. ’06. ’07. ’08. '09-'14. 1915.
Since 1890 ......... % \ 5 5 X y ’ ly. 4 y ’ly.
5
6
8
0 y’ly
4
In 1915 paid 1% Jan. 29, 2% July 29. 1% special Dec. 28. In 1916,
Jan. 29, 2% As to rnothod of reporting dividends, soo V. 101, p. 48.
BONDS.— B a ttle C reek & S t u r g is bonds for $500,000, but of this $79,000
was sub-guaranteed by tho Lake Shore & Michigan Southern (now merged
Into tho New York Central), 7 miles of the Battlo Creek & Sturgis be­
ing operated by that company. The $1,714,000 3)£s of 1901 are a first
mtge. on the Jackson Lansing & Saginaw R R .. 379 miles (V. 73, p. 1061);
V. 76, p. 1027). Of the $18,000,000 3H s of 1902, tho final $4,000,000 was
sold In Feb. 1915. V. 74. p. 728; V. 76, p. 102; V. 83, p. 1229. First 4s,
r . 84Lp.
84, p. 1367, 1428; V.
on Joliet & Northern Indiana,. see V.
VL 1
100, _p. 556,. 642.
T o le d o C a n a d a S o . A D e t. guar. 4s of 1906, see V. 82, p. 930 V. 85, p. 406.
As to Canada South, guar, bonds, see that co. V. 94. p. 982, 1249.
The Detroit River Tunnel guaranteed 50-year bonds ($30,000,000 auth­
orized Issue) are secured by a tlrst lien on the double-tube tunnel and ap­
proaches under the Detroit River, with terminals. Of the bonds, $18,000,­
000 4 X s have been sold against cost of present property and Improvements
In April 1909 an issue of $25,000,000 4% 20-year debentures was author­
ized, of which $7,634,000 sold to provide for advances to Detroit River
Tunnel Co. Of the $4,500,060 authorized 4s on Grand River Valley R R ..
$1,500,000 are reserved for double-tracking, Ac., and $1,500,000 for future
requirements. V. 88. P. 945, 1002. 1061. 1254: V. 90. p. 1554; V. 89.
p. 170; V. 90, p. 627. The $6,000,000 1-year 4)4% notes duo Mar. 1 1915
were paid at maturity and $4,000,000 new 4)4% notes were issued.
Equipment bonds of 1915, see “ Chron.” June 24 1916 and V. 102, p. 1447.
Jointly with four other roads, covenants to pay New York Central Lines
$62,200,000 car trusts of 1907, 1910, 1912 and 1913, tho company’s sharo of
equipment trusts outstanding Dec. 31 1915 being $1,822,978, $3,312,177,
$1,668,819 and $2,938,744, respectively. V. 85, p. 1402; V. 86, p. 168;
V. 88. p. 761; V. 90. p. 1677; V. 92, p. 807.
EARNINGS.— 4 m os.,f 1916..........Gross, $14,165,687; net, $1,576,368
Jan. 1 to April 30. 11915........Gross, 10,625,038; def.,
451,161
ANNUAL REPO RT.— Report for 1915 in V. 102, p. 1430, 1447:
Y e a r e n d in g D e c . 31—
1915.
1914.
1913.
Railroad rev en u es..._____________ $36,510,665 $33,464,968 $30,676,971
Operating income after taxes_______ 9,285,601
6,681,790
7,281,058
928,483
Other income920,363
1,246,057
Gross corporate incomo__________ $10,214,084 $7,008,158 $8,527,115
Rontals leased lines_________________ $3,444,651 $3,402,187 $3,002,314
1,829,030
1,552,500
Interest on bonds, A c_____________ 1,706,395
597,673
661,930
Other rents and miscellaneous_________________ 569,581
Hire of equipment_________________ 1,566,501
1,364,849
1,367,205
Additions and betterments-------------113,170
D ividen ds_______________________*(5%)936,900 (4)749,520 (6)1,124,280
Balance, surplus or deficit_sur.$1,876,881 def..$335,100sur.$158,880
*Of the above divs. in 1915—1% ($187,380)— was paid out of total surplus
Pres., A. II. Smith, N . Y .— (V. 102, p. 609, 1430, 1447, 1540, 2254.)
MICHIGAN EAST & WEST R Y .— Manistee to Marion, M ich., 72 m.;
Filer City to Sands, 2 m. Successor of Manistee A Grand Rapids R R .
V. 91, p. 887, 365; V. 98, r>. 74. Stock, $1,000,000; outstanding, $200,000;
par, $100. No bonds to bo issued at presont. For year ending Juno 30
1915, gross, $78,170; op. def., $16,106. Pres., J. S. Joyco; Treas., F. P.
Leffingwell, both of Chicago. Office, Manistee, M ich.— (V. 98, p. 74, 230.)
.MIDDLETOWN & UNIONVILLE R R .— Middletown. N . Y ., to
Uulonville, N. Y ., 13.65 miles. Has an agreement with tho N. Y. Ontario
& Western R y. for tho use In perpetuity both of tho terminal in Middle­
town and of the mile of track used In ontering that city.
Incorp. In N . Y . N ov. 14 1913. Successor, per plan, V. 97, p. 887.
Dec. 1 1913 to Middletown Unlonvillo A Water Gap R R ., foreclosed Oct. 25
1913, which was controlled by N . Y . Susq. A West. Ity., but reorganized
Independently. Stock, $150,000, held In 5-year voting trust, with author­
ity in majority of trustees to sell same.
For 7 mos. ending Juno 30 1915, gross, $81,407; net, $31,774; Int., taxes,
Ac.. $18,908; new rails and lmpts., $4,833; 6 mos. int. (1%) on Income
bonds. $2,500; bal., sur., $5,533. Chairman. Newman Erb; Pros., Charles
I. Henry. 21 Stato St.. N. Y .; V.-P. A Gen. M gr., J. A. Smith; Treas., Gar­
rett T . Townsend; Sec., Frank II. Finn.— (V. 98. p. 387; V .lO l.p . 1371.
MIDLAND CONTINENTAL R R .— (V. 99, p. 1130,1749; V. 102, p. 66.)

Valley

Pacific

^.NORTHERN

MINNEAPOLIS

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RAILWAY STOCKS AND BONDS

*
Vs
___ _
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RAILROAD & CONNECTIONS.

>Park (
lEapids

June 191G|

M A P OP TH E

82

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b re v ia tio n s , & c ., see notes on f i r s t page]

M ile s
Road

14
M iddletown & Unlonv RR— 1st M $500,000-- Ba.y
Second M 6% non-cum adjust Inc bonds red p a r..y
Midland Pennsylvania— 1st M $2,000,000 gold red s f.
299
Mldland Val RR — 1st M g red 10214 beg 10 GPxc*
299
Adjustment mtge (2d Income) gold red par F P .xc*
Wichita & Midland Val 1st M g g u red par------- x c
Mill Creek & Mine Hill Navigation & RR— Stock----Milwaukee Lake Shore & Western— Mil waukce Sparta & Nor
Milwaukee & Northern— See Chicago Milwaukee & St Paul
37
Mine Hill & Schuylkill Haven— Stock (6% rental)
26
Mineral Point & Northern— 1st M $450,000 gold -F.x
16
Mineral Range— Consol mtge (text) gold red at 105-zc
73
34
33)4
First mtge Merriam June to Albert Lea g — F.zc*
Pacific extension first mortgage gold.............Ce.zc*
Refund andextenM,$75,000.000 g red 105.Gxc*&r
Car tr ser A g due $60,000 yly (V 88. p 1373) PeP.xc
Car trust ser B gold due $18,000 yearly__ PeP.xc*
do
Ser C part due yearly___________
Locomotive trusts due $6,250 quar_____
Iowa Central 1st M g (V 49, p 582)------1st ref mtge $25,000,000 g (see text).
Des Moines & Ft Dodge gold guar p & I..C e.xc*& r

D ate
Bonds

Par
V a lu e

R a te
%

$200,000
6g
250,000
5g
100 &c See text
5,000.000
1,000
5g
5.512,500 Up to5%
100 &c
1,000
1,025,000
5g
10
25
323,375
th Wes tern — Se e Chicago & North W
1913
1913
1910
1913
1913
1911

1905
1891
1901
1891
1905

109 1877
103 1881
502 1894
779 1899
1914
1,409 1912
1909
1910
1912
1915
1915
502 1888
539 1901
1909
1910
138 1905
1912

$100 &c

W hen
P a y a b le

M &
M &
J &
A &
Sept.
A &
J &
estern

N
N
J
O
1
o
J

L a s t D iv id e n d
a n d M a t u r it y

Nov 1 1933
Nov 1 1933
July 1 1960
Apr 1 1943
Apr 1 1953
Jan 1 1931
Jan 1916 5%

50 4,210,200
5)4 J & J Jan 15’ 16 2)4%
450,000
5 g M & N May l 1925
1,000
593,000 4 g & 5 g J & J Jan 1 1931
500 &c
100,000
1,000,000
4 g J & J Jan 1 1951
325,000
5 g J & J Jan 1 1931
1,000
J & D 30 June 30 1925
700,000
5 2
1.000
J & J Jan 15'04 2K
100 16.385.640
& J Jan 1 5 ’ 10 2)4
100 6.264.810 ________ J
950,000
500 &c
7 g J & I) June 1 1927
1,000
1.382,000
6 g A & O Apr 1 1921
1,000 5,282,000
5 g M & N Nov 1 1934
1,000 13.244,000
4 g M & S Mch 1 1949
Seo text
F & A
6g
1,000 2.500.000
Feb 1 1962
1,000 &c
4.086,278
5g
C—
1,000
180.000
5 g A & O To Apr 1 1919
90,000
1,000
5 g A & O To Oct 1 1920
M & N To Nov l 1922
5
1,000
129.000
M & N Nov 1 TO to '25
400,000
6g
1,000
218.750
6
250 &c
L — 1 To Jan 1925
1.000 7,650,095
5 g J & D June 1 1938
1,000 7,156,000
4 g M & S Moh 1 1951
1,000
96,000
5 g M & N To May 1 1919
75,000
5 g A & () To Oct 1 1920
1,000
1,000 3.072,000
4 g J & J Jan 1 1935
196.000
6 g J Ac J July 1 1932
1,000

M I D L A N D P E N N S Y L V A N IA RR.— Under construction from Millersburg. Pa., to Ashland, 44 miles. In Feb. 1916 proposition for completing
the road was under consideration. Stock authorized and outstanding,
$2,000,000. Bonds authorized. $2,000,000. About $812,300 bonds Issued
to Feb. 1916 account construction 15 miles. Int. defaulted July 1912.
Pres., --------------------; Sec., John II. Williams, Pottsville, Pa.; Treas.,
S. F. Houston, Phila.— (V. 95, p. 298; V. 99, p. 467.)
M I D L A N D R A I L W A Y . — Statesboro, G a „ to Stevens Crossing, 39 m.
In April 1916 building toward Savannah construction trains oporating from
Statesboro to Plncova and work in progress 10 miles beyond. Formorly
Savannah Augusta & Northern R y., sold in 1910 by receiver for $250X00
to W . J. Oliver. V. 101, p. 450, 1372. Year 1910-11, gross, $23,192; net,
$6,979.— (V. 101. p. 450, 1372; V. 102, p. 251.)
M I D L A N D V A L L E Y RR.— Owns and operates from Excelsior, Ark.,
south to lloye, Arlt., and north to Fidelity, Ark.; also from Excelsior west
to Sllverdale, Kan., and from Jenks, Okla., to Glenn Pool, Okla., a total of
304 miles: also operates under trackage from Maney Jet., Ark., to Ft. Smith,
10 m., and Sllverdale to Arkansas City, Kan.. 9 miles; leases Wichita &
Midland Valley RR., Arkansas City to Wichita, 51 miles, for 50 years from
July 29 1910, for 25% of the gross earnings (and any deficiency necessary
to meet the bond int. and taxes); total oper., 380 m. V. 92, p. 462, 796.
ORGAN IZ’N.— In 1913 readjusted without foreclosure, V. 96, p. 554.
STOCK.— Auth., common, $16,000,000; pref., $5,000,000; outstanding,
$4,006,500 each of common and 5% pref. (prln. and dlv.); par, $50. Stock
Is all held in a voting trust terminating Jan. 1 1924 or at any time after
M ay 1 1918. at tho discretion of the voting trustees; Edward T . Stotesbury,
Sidney F. Tyler, j . R. McAULster, Lloyd W. Smith and Francis I. Gowen.
The pref. stock Is redeemable at par on any dlv. date after July 1 1916 on 30
days notice, and subject to tho right or the Cherokeo Construction Co.
(which owns all of the com. stock) to purchase as follows: During 1914 and
1915 at 35% o f the par value; 1916 and 1917, 40%; 1918 and 1919, 45%;
1920 and 1921, 50%; 1922 and 1923, 55%.
BONDS.— The first 5s and adjustment M . (income) 5s, issued per plan
V. 96 d . 554. are a first and second lien, respectively, on (1) the entire
property; (2) the leasehold Interest In the Wichita & Midland Valley RR.
and all the $1,025,000 old bonds of the latter and $459,300 of Its $460,000
common stock; (3) all of the $250,000 stock and $1,250,000 1st M . 5s of the
Sebastian County Coal & Mining Co. owning about 18,500 acres of semi­
anthracite coal lands. Of the first 5s. $5,000,000 have been Issued on
account o f retirement of outstanding bonds and other Indebtedness and
lmpts., &c..and the remaining $10,000,000 are reserved for 85% of the cost
o f lmpts., extens., &c., under careful restrictions. See V. 90, p. 1423, 1489.
The Interest on the adjustment M . bonds Is to be paid annually, If earned,
but Is not to become a fixed charge, and Is not to be cumulative unless the
Cherokee Construction Co. shall oxerclso the option to purchase the pref
The $3,512,500 Series A bonds are to have priority both as to lien and
payment o f Interest over the $2,000,000 Series B bonds.
EARN IN G S.— 10 mos.,/1915-16.........Gross, $1,537,409; not. $429,630
July 1 to April 30.
11914-15.........Gross, 1,180,535; not, 269,382
Report for year ending Juno 30 1915, In V. 101, p. 1365, showed:
J u n e 30
G ross
N e t (a fte r
Other
In t e r e s t,
B a la n c e ,
Y ear—
E a r n in g s .
T a x e s .)
In c o m e .
R en ts, A c .
S u r p lu s .
1914-15___ $1,392,739
$241,430
$151,187
$331,759
$60,858
1913-14___ 1.618.581
195.646
164.188
318,926
40.908
Pres., Charles E. Ingersoll; Sec. & Troas., H. E. Yarnall. Office.
Franklin Bank Bldg., Phlla.— (V. 100, p. 1918: V. 101, p. 1365.)
M I L L C R E E K & M I N E H I L L N A V I G A T IO N & RR.— Mill Creek Jet. to
Broad Mountain, Pa., 4.01 m.; branches, 1.90 m.; second track, 3.79 m.;
total track, 57.26 m. Leased In 1861 for 999 years to Phila. & Reading RR.;
lease assumed in 1896 by Phila. & Reading R a ilw a y , rontal, $33,000 & taxes.
M I N E H I L L & S C H U Y L K I L L H A V E N R R — From Schuylkill Haven to
Ashland and Enterprise Jet., 36.72 m.; 2d track, 18.85 m.; total track,
129.91 m. In 1897 rental reduced to 6% on stock under new lease for 999
years from Jan. 1 1897 to Phlla & Read. Ry. Co.; 2 >4% Is paid In Jan. and
3% In July, >4% being deducted for taxes.— (V. 90, p. 1365, 1423.)
M I N E R A L P OINT & N O R TH E R N R Y — Highland to Highland Jet.,
Wis., 26.4 miles; trackage Highland Jet. to Mineral Point, 4.2 m.; total,
30.6 miles. Incorporated In Wisconsin Oct. 17 1899. Stock, all Issued,
$550,000; par, $100. Bonds, see table above. For year ending June 30
1915, gross, $93,057; not, $13,971: Int.. taxes, &c.. $39,312; bal., def.,
$25,341. Pres., M . F. Chase; V .-P., A . P . Cobb. Now York.
M I N E R A L R A N G E R R.— Houghton, M ich., to Calumet, M ich., 14 m .,
Hancock to Mohawk, 20 m.; branches, 30 m.; South Range exten., Ke­
weenaw Bay to Riddle Jet., 36 m.;, trackage, 3 m.; Mohawk R R ., 17 m.
In 1895 paid dividends of 10)*% ; In 1890, 7% ; 1897, 7% ; 1898, 3 >4%;
none since. Stock. $1,500,000: par, $100.
BONDS.— Consols for $1,000 are reserved for $3,000 old bonds. Of the
$593,0o0 outstanding, $339,000 are 5s; the Can. Pac. on June 30 1915 owned
the remaining $264,1)00 (which are 4s) and the $1,000,000 gen. mtge. 4s,
both of which It guar, as to int. V. 75, p. 554. See V. 73, p. 556, 616: V. 73.
p .785 . In July 1913 $115,000 notes were authorized. V. 97, p. 170. Of
tonnage In 1914-15, 90% was ores and mining products. Equip, trust
notes Juno 30 1915. $465,475, Including deferred interest.
EARNINGS.— For 10 months ending April 30:
T e n M o n th s —
G ro ss.
N et.
O llier I n c .
C h a rg e s .
B a l., S u r.
1915-16.............$886,954
$209,578
$4,866
$152,169
$62,275
1914-15 ............. 677,762
191,590
4,013
123,535
72,068
R EPO RT.— For year 1914-15, gross, $847,465; net, after taxes, $206,183:
othor inc., $6,199: charges, $118,432; sur., $93,951.— (V. 97, p. 176.)
MINNEAPOLIS RED LAKE & MANITOBA RY.— BemldJI to Redloy.
Minn., 33H miles. Stock, $l0O,0OO: bonds (sec table). For year ending
Juno 30 1915, gross, $63,191; oper. exp., $48,882; net, $15,861; taxos, rentals
and fixed charges, $3,827; int. on bonds, $35,000; bal., def., $22,966.
Pres.. C. A. Smith; Sec., A. Ueland; Treas., A. L. Molandor. Office,
BemldJI, Minn.




A m ount
O u tsta n d in g

[V o l . 102,
P la c e s W here In terest a n d
D iv id e n d s a re P a y a b le

Empire Trust Co, N Y
July 1912 coup not paid
New York and Phil*
Fidelity Tr Co. I’ hila
Office, Philadelphia, Pa
Reading Term, Phlla, Pa
Office 119 S 4th St, Phlla
Farmers L & Tr Co, N Y
55 Wall St. New York
All owned by Can Pacific
55 Wall St. New York
First Trust & S Bk, Chic
Office, 25 Broad St, N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Penn Co for Ins, &o,Phlla
do
do
do

do

25 Broad St, New York
do
do
Penn Co for Ins,&o,Phlla
do
do •
25 Broad St. Now York
do
do

MINNEAPOLIS & ST. LOUIS RR.— [S e e M a p . ) — Road Includes:
R o a d O w ned ( C o n tin u ed )— M i le s .
R o a d O w n ed —
M ile s .
Branches ------- --------------------- 129
Minneapolis to Angus, la ------- 260
L e a se s [ A ll S to ck O w n ed )—
Des Moines to Ruthven, la
137
la. C. <&W.,BeImond to Algona 37
Hopkins, Minn., to Leola, S.D.330
T r a c k a g e --------------------------- 109
Conde to Le Beau, S. D _______ 115
Iowa Jet.. 111., to Northwood_.375
Total ownod and operated Juno 30 1915------------------------------------- 1,646
Leases to O. R . I. & P .. Albert Lea to Iowa Lino. 13 m .. lncl. above.
HISTORY.— A reorganization In Oct. 1894. per plan in V 59, p. 371.
In 1915 merged completely with itself tho Iowa Central and Dos Moines
fort Dodge roads (controlled cos.). V. 93, p. 1668; V. 101, p. 1272.
& Fort
PLAN.— In Feb. 1916, In order to provide for tho retirement of $2,500,­
000 6% gold notes duo Feb. 1 1916 for the floating dobt and for now work­
ing capital, the plan of readjustment outlined bolow was proparod at the
request of the directors, by the following committee: Charles II. Sabin.
Chairman- E. V. R. Thayer, F. Lothrop Ames, Thomas Cochran and
Oates W. McGarragh, with Robert II. Cox as Socrotary, 140 Broadway.
N. Y. City. This plan, dated Jan. 31 1916, and published, with a lottor
regarding tho outlook, by Pros. Newman Erb, in V. 102, p. 522, 529, was
declared operative in April 1916. In Juno 1916 tho readjustment committee
controlled abt. 80% of tho stock. V.102, p. 1540, 1436, 1890,2167. Opposing
minority interests were represented by B. F. Spollman of N. Y. V. 102, p.
The company will by tho plan bo readjusted with an authorized capital
stock of $26,000,000 (par $100), all of ono class, of which thoro would pres­
ently bo issued $25,783,550, tho remainder to bo reserved for futuro cor­
porate purposes. The bonds and equip, obligations remain undisturbed.
To provldo tho $4,530,200 now cash required by tho company tho share­
holders are asked to deposit their certificates on or boforo March 1 with the
Guaranty Trust Co., N. Y ., or tho Merchants’ Nat. Bank. Boston, as de­
positaries, for exchange for new stock on tho basis shown in tho following
tablo. tho cash payments Indicated having been underwritten by a syndicate
headed by Hayden, 8tono & Co. and J. S. Bache & Co. In Juno 1916 over
63% of the outstanding stock had actually been deposited. V . 102, p. 2167.
Stockholders will vote on the plan Juno 19. V . 102, p. 800, 1896.
D is t rib u tio n o f N e w C a p it a l Stock— C a sh C o n trib u tio n .
U p o n Paym ent
W ill R eceive
o f C ash.

H o ld e rs o f E x is t in g Stock—

$6,265,100 pref stock................................
Nono
do
also if paying cash........... 20%— $1,253.020
$16,385,900 common stock____________
None
do
also if paying cash__ . . . - 2 0 % — 3,277,180

70%— $4,385,570
80% — 5,012.080
22% —
78%— 12,781.002

$4,530,200
$25,783,550
T ota l.
E s tim a te d C ash R eq u irem en ts, $4,530,200.
Notes due Feb. 1 1916---32,500,0001 Readjustment exp., & c._ $350,000
Bills payable.....................
800,000 Working capital, & c ------580,200
Reduce audited vouchers.
300,0001
_______
Pending tho carrying out of tho plan, holders of most of tho $2,500,000
notes agreed to present tho samo to tho Central Trust Co. for extension to
Aug. 1 1916 on or boforo which day they will bo paid in full with interest at
6% por annum, tho extended notos to bo redeemable at par and Interest at
any tiino on 30 days’ provious notlco. V. 102. p. 976.
DIVIDS.
1 ’97. ’98. '99. ’00. ’01. ’02. ’03. ’04. '05 to J a n . '10.
Preferred.........) 3
3K 4)1 5
5
5
5
5
5 yearly
None
Common______J----- None----IK 4
5
5
2)4
0
since
BONDS, &0.— Bonds due 1927, Nos. 1,101 to 1,400, for $500 each, addi­
tional to those above, were assumed by B. C. R. & N. (now C. R. I. & P.).
First Refunding mtge. of 1899 is limited to $13,244,000. The mtge. is a
1st lien on 277 miles of road, &c., and a blanket lien on rost of property, and
Is further secured by deposit of $2,530,000 Dos Moines & Ft. Dodge common
stock. V. 68. p. 187, 332; V. 79, p. 2147; V. 80, p. 2220; V. 87. p. 1420:
V. 88, p. 295, 452. 506. See V. 69, p. 32.
p___
The $2,500.000 6% notes of 1914 aro now secured by deposit of $5,500,000
of the ref. and ext. M . 5s of 1912. V .9 8 .P .3 0 4 .
The “ Refunding and Extension” 50-year bonds, dated Jan. 1 1912 ($75,­
000.000 auth. Issue) are secured by a general Hen on properties now owned,
subject to existing liens, and, through tho retirement of the bonds of the
Minnesota Dakota & Pacific Ry., became a first lien on tho property of said
M D & P. R y., constituting the recent extension to tho Missouri River,
229.6 miles; they will also bo a first lien on contemplated extensions;
$2,500,000 were sold in 1912, and $5,500,000 deposited under tho notes
due Feb. 1 1916. Of tho remaining bonds, $39,891,000 were reserved
to retire a like amount of underlying bonds, $1,036,000 to retire equipment
obligations, $11,073,000 for improvements, 2d track, &c.. $3,000,000 to
purchase rolling stock and $10,000,000 for additional road, or terminals.
V. 93. p. 1688: V. 94, p. 279. 487. 631: V. 90. p. 130; V 98, p. 1316.
The $3,072,000 Dos Moines & Fort Dodgo 4% bonds dated Jan. 1 1905
were guar., p. & 1. V. 79, p. 1704, 2696. Tho $200,000 Hocking Coal Co.
1st 6s ($600,000 auth. issuo) aro also guar. V. 96, p. 360.
In June 1915 issued $251,813 6% locomotlvo trust ctfs. for purchaso of
15 now locomotivos. V. 100, p. 556. Tho $400,000 oquip. trust ctfs.
dated Nov. 1 1915 covor 500 now box cars with steel underframos. V.
101, p. 1714, 1629.
EARNINGS.— For 10 months ending April 30 1910:
G ro ss.

T o ta l N e t . F ix e d C h g es. Other In teres t. B a l .,S u r .

1916..................$9,032,905 $2,429,139 $1,665,782 $182,266 $581,091
1915................... 8.576.773 1,979,710
1,657,262 188.617
133,831
GENERAL FINANCES.— On Jan. 1 1916 in addition to tho securities
shown in the tablo above thero wero $7,037,000 Ref. & Exton. M . 5s
pledged (Including $5,500,000 pledged for tho $2,500,000 notes duo Feb. 1
1916) and $292,000 additional in tho treasury. On tho samo date thoro
were outstanding $809,500 bills payable (to bo discharged under plan of
Jan.:31 1916) and $750,000 audited vouchors.

J une, 1910 |

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s . & c ., s e e n o tes o n fir s t p a g e]

M ile s
R oad

Minn St PaulA S Stc Marie— Com stock $42,000,000 . .
Preferred stock 7 % non-cum $21,000,000__________
W isconsin Cent leased line etts $12,500,000 a u t h ..
Mlnn Sault Ste Marie & Atlantic 1st M gold .C e.zc*
Minneapolis & Paclfto first m ortgage_______ Cc.zc*
Cons M g. Int guar (end) ($2,637,000 5s) ...C e .x c *
Second mortgage $5,000,000 gold Int guar____ Ce.x
Chicago Terminal joint 1st M g red tex t-G .x c* Ar*
Car trust Ser A duo $96,000 sem i-a n n u ally___C e x
do
Ser B due $61,000sem l-annuaily____ C e.x
do
S erC goId d ue $60,000 sem i-annually.C e.x
do
Ser D g due $51,000 s-a (V 95. p 7 5 0 ) - - - X
do
Sor E g $159,OOOs-a (V . 9 6 ,p.203) - - - O x c
do
Ser F due $64,000 s-a ( V 97. p 1663). Q P c*
Fairm ont & Veblin K y 2d M bonds_________________
Minnesota Transfer— First mtg ($1,149,000 are 4sj .z c
Miss Cent— 1st M $10,000,000 g gu red (text) ..G .s o *
M issR iv & Bonne Ter Ry— IstM $2,500,000 g red 105 x
Equipm ent trusts due $50,000 s-a red par.S St.xc*
Mo&IIl Br & Belt— StC M & St L B 1st M red g-SSt.zo*
Consolidated m ortgage $2,000,000 authorized g -_ x
Missouri Kansas & Texas— Comm on stock __________
Preferred stock 4% non-oum ulatlve________________
1st M g(In '16 Cont T r C o resigned as trusteo). Us.z
Second m ortgage g o l d _________ ______________ Ba.z
First extension m ortgage gold $3,254,000___Ce.xc*
St Louis Division first refunding m ortgage.-F .xxo*
Missouri Kansas & Eastern 1st M gold assumedCe.xx
Second m ortgage guaranteed, being retired— xx
Sh Sh A So 1st M ($20,000 p m) g ass______ Ce.xxo*
Kansas City A Pacific 1st M gold assumed ..C e .x o *
M K & Okla 1st M $5,468,000 g assumed ---C e .x c *
Texas AOkla 1st M $2,3*7,000 gold assum ed.Ce.xo*
First A ref mtge $40,000,000 gold (see t e x t )— F.x
Gen M $20,000,000 gold sink fund red at par-N .xo*
S W C & Imp 1st M assumed sink fund call 1 2 5 ..F *
Consol mortgage $125,000,000 gold authorized___x
Two-year secur g notes ext. In 1915 red 1 0 1 .-C e.xo
Equlpt trust notes gold $95,000 due s-a call p a r.C e x
do
do
Sories A $34,000 due s - a _________CP

495
286
3,014
3,014
___
___
___
___
164
65
___
___
___
___
1,599
1,599
163
___
162
162
182
130
227
117

___
___

D a te
B onds

1886
1886
1888
1899
1911
1907
1910
1911
1912
1913
1913
1913
1886
1909
1911
1911
1901
1904
1890
1890
1894
1901
1892
1892
1893
1890
1902
1903
1904
1906
1889
1910
1913
1913
1914

Par
V a lu s

Balance, surplus or d oficit..............sur.$186,604def.$153,392sur.$451,894
O F F IC E R S .— Pros., Newm an Erb: V .-P . & Troas., F . H . D avis. N . Y .;
V .-P . & Gen. M g r., C . W . H untington, M inneapolis; Sec. & A sst. T reas.,
A . C . D oan, N . Y . O ffice, 25 Broad St.
D i r e c t o r s . — H . E . H untington, F . n . D avis, Frank T ru m bull, T h o o . P .
Shonts, A . O . D oan. Newman Erb, W . J. W ollm an. F. P. Frazier. W ard E
Pearson, N . Y .— (V . 102. p.529, 800, 976, 1060, 1436, 1540, 1896, 2166.)
M IN N EAPOLIS ST. PA U L & SAULT STE. M A R IE R Y — Owns main
lino from Sault Ste. Marie, Mich., via Minneapolis to Portal, North Dakota,
at International boundary line, there connecting with Canadian P a c,, 1.040
milos; branches, Ilankinson, N . D ., to M ax, 305 miles; G lenw ood, M in n ., to
N oyes, 265 miles; T h ief River Falls, M inn ., to Kenm are, N . I ) ., 296 m .;
F ordvillo, N . D .. to Drake, N . D ., 131 miles; M oose Lake, M in n ., to Plum ­
mer. M in n ., 193 m .; W lshek, N . D ., to P ollock, 70 m .; Brooten to D uluth,
M inn .. 187 m .; Lawler to Ouyuna, 37 in. (V . 91, p. 912, 787); other
branches, 558 m .; spurs, 8 in.; Fairm ont A Voblon R y ., Fairm ont to Gren­
ville, S. D ., 87 in.; total operated Juno 1 1916, 3,141 milos; also trackage to
M inneapolis, St. Paul, Sault Ste. M ario, Duluth, Superior and Ironton,
23 m .; leases Wisconsin Central R y . (which seo), 1,059 miles; total, 4,223
miles. Owned but loased to M innesota N . W . Elec. R y ., T h ief R iver Falls
to G oodrldgo, M in n ., 18 m .
H IS T O R Y .— A consolidation In 1888 of Minn. Sault Ste. Marie & A tl..
Minn. & P ac., A c. See V. 46, p. 538. 609; V. 77. p. 628.
In 1909 51% of Wisconsin Cent. com . stock was purchased, affording a
Chicago connection, the road being leased for 99 years from April 1 4 909.
$11,176,800 4% leased line ctfs. were issued (to Juno 1915), secured by the
Wisconsin Central pref. stock. V. 8 8 , p. 232, 564. 686; V. 98. p 1668
In t. on Wise. Cent. 1st A ref. 4s ($6 ,000,000out)Is guaranteed. V 95 p gna'
T he Central Terminal R y ., organized In 1911, on A pr. 1 1914 o’ponod a
now Chicago terminal to replace the facilities leased from the Illinois Central
Seo B O N D S below. V. 93, p. 1463, 1387, 871. 285; V. 95, p 745. ^ entralS T O C K .— Canadian Pacific In July 1915 owned $12,723,500 com m on and
$6,361,800 preferred. Preferred stock has a prior right to 7% (non-eSm ) •
then com . to 7 % ; then share pro rata. V . 75, p. 549; V . 92, p. 882.
D IV ID E N D S.
1 03. 04. '05. '06. '07. '08. '09. 1910 to A pr 1916
4
4
4
4
6
6
7 y e a rly 1^
Com m on.................. % / 2
BONDS — Can. Pac. guarantees 4 % Int. on all old bonds assenting to a
reduction c f int. to 4 % ; also on consols of 1888. (See V. 50 n 784- v 51
p. 239.) A bout one-half Minn. A Pac. bonds and practlcally’all other Issues
assented. Abstract of M i n n e a p o l i s S a u l t s t e . M a r i e ^ A t l a n t i c m tge fn
V. 45. 0 . 243. The c o n s o l i d a t e d m o r t g a g e of 1888. abstract V 47 n 142
was for $2 1 ,000,000 on 800 miles (sufficient of tills reserved to retire nrlnr
bonds) and for $20,000 per mllo on all additions. Outstanding am ount Is
however, restricted to threo times the stock. In 1915, $2 637 000 5s were
issued
v
0/1 " t a i - v v i ^ io c . it- h > _
'000 OS_were

*

V
The Chicago Terminal 1st M. 30-year gold 4s ($20,000,000 auth ) are se­
cured under a Joint mtge. with Central Terminal R y . on the terminals for
the Minn. St. P. A S. S. M. and Can. Pac. system lines. They are sub Icc t
to call on any Interest date beginning N ov. 1 1916 as a whole at 105 and
must be called yearly, beginning N ov. 1 1916, at 102 H by a sinking fund suf­
ficient to retire Issue at or beforo m aturity if not purchasable for less
The
$6 ,000,000 bonds sold represent cash Investment equal at least to their oar
value, the remainder being reserved for not exceeding 80% of cost of exten­
sions and Improvements. V . 93, p .1 4 6 3 ; V . 95, p. 745
E A R N IN G S (road p ro p o r).(1 9 1 5 -1 6 .Gross, $19,238,522; n ot,$7 835 125
10 in o s „ July 1 to April 30. \ 1914-15-Gross, 15,314,962.: net! ^OSOUM
R E P O R T .— R eport for year ending Juno 30 1915 was in V . 101 n 1080
Y e a r e n d i n g J u n e 30—
1914-15.
1913-14.
1912-13
3.044
2,982
2 0 15
Averago miles operated_____________
Gross earnings............................................ $H -§A Z '8 55 S18 717.690 $20,968 554
N ot. after taxes............................................ $5,622,822 $5,326,095 $8,015,489
Other Incom e-------------------------------------1,043,965
1,083,244
871,051
$6,409,339 ~S8 886 540
$2,955,928 $ 2 750 3 7 5
446,764
4 4 5 ’837
1 5 3 ,1 4 5
1« 2 026
882,238
882:238
1,764,476
1,764:476

P r a n c e , surplus...................................
$327,290
$206,788 $2,880,688
— (V . 10 0 , 1). 556, 812, 1510; V . 1 0 1 , p. 1014, 1089; V . 1 0 2 . p . 1346.)
MINNESOTA TRANSFER R Y .— Union road owning 13.54 miles, ex­
tending from Junction with Chic. Milw. A St. Paul at Merrlam Park to bridth mI?,011 Yards, A c.); side tracks, 85.77 miles; total, 99.31 miles
V. 67, p. 956. Stock, $63,000, equally owned by Chic. Milw. A St. Paul
Nor. I a c., Chic. St. Paul Minn. A Omaha. Minn. A St. Louis, Chic. Burl A
Quincy, Great North. Chic. Great W est., Minn. St. Paul A Sault Ste. Marie
and Chic. R ock Island A Pacific. Additional bonds can bo Issued for Im­
provements. Ao. Principal only Is payable In gold. Mortgage trustee.
Northwestern Trust C o., St. Paul.— (V. 07, p. 956.)

CENTRAL RR.— Owns from a point 14 miles south of
Hattiesburg, Miss., to Natchez. 164 miles, Including the former Natchez A




R a te

W h en

%

P a y a b le

$ 10 0 $25,206,800 7 In 1915 A
10 0 12,603,400 7 In 1915 A
10 0 11,176.800
4
A
1,0 0 0
8.136.000
J
4 g
1,0 0 0
286,000
4 (5) J
1,0 0 0 69.500.000 4 g A 5 g J
1,0 0 0
4 g
J
3.500.000
1.000 Ac
M
6,000.000
4 g
1,0 0 0
J
207.000
5
A
1,0 0 0
488.000
4H
1,0 0 0
600.000
4M g M
1,0 0 0
612,000
4H g J
1,0 0 0
2.226.000
4M g J
.1
1,0 0 0
960.000
5g
A
14,250
6
1,0 0 0
2.053.000 4 A 5 1'
500 Ac
3.869,500
5 g
J
1.0 0 0
2.500.000
A
5 g
1.0 0 0
60.000
J
5
1.0 0 0
758.500
J
4 g
1,0 0 0
746.000
4 g
J
10 0 63,283,257
10 0 13.000. 000
500 Ac 39.999.500
J
4 g
500 Ac 20.000.
F
000 4 g
1,0 0 0
M
3.253.000
5 g
1,0 0 0
A
1.924.000
4 g
1,0 0 0
4,000,000
5 g
A
1,0 0 0
58,000
5 g A
1,0 0 0
1.689.000
5g J
1,0 0 0
F
2.500.000
4 g
1,0 0 0
M
5.468.000
5g
1.0 0 0
M
2.347.000
5 g
100 Ao
M
9.992.000
4 g
1.0 0 0 10.421.000
4H g J
1,0 0 0
.1
743.000
6
See text. See text A
1,0 0 0 19,000,000
M
6 g
1,0 0 0
J
1.330.000
5 g
1.0 0 0
J
5
544.000

A N N U AL R E P O R T .— R eport for 1914-15 In V .1 01 , p.l&OO, 1363, sho w od :
J u ne 30 Y ea r—
1914-15.
1913-14.
1912-13.
Operating rev en u es...............................-$10,111,975 $9,620,675 $9,707,004
N e t (after taxes)................ - ...............- -$ 2 ,7 4 3 ,1 9 6 $2,287,028 $2,617,011
Other Incom e.....................
9 4,434
105.392
155.698
2,392,420
2,772,709
T otal not I n c o m e -.. ........................... 2,837,637
D e d u c t — B o n d interest...................
$2,139,649 $2,104,828 $2,052,038
In t., discount, exchange, & c.............
118,699
119.389
105,744
Hiro o f equipm ent, balanco------------392,684
321,595
163,033

Gross corporate Incom e.......................$6,666,787
In toroston bonds. A c ............................... $3,094,398
Int. on Wise. C ont. leased lino certlfs.
446,784
151,601
Rental o f term inals......... ....................
Preferred dividends ( 7 % ) ...................... , 882.238
D ividends on com m on ( 7 % ) .................
1,764.476

A m oun t
O u tsta n d in g

83
L a s t D iv id e n d
a n d M a tu rity

A O A pr 15 1916

A
A
A
A
A
A
A
A

3 )4

O A pr 15 1916 3M
O A pr 1 2008
J Jan 1 1926
J Jan 1 1936
J July 1 1938
J Jan 1 1949
N lN ov 1 1941
J T o Jan
1 1917
A O T o April 1 1920
A S T o Mch 1 1921
A D T o June 1 1922
A J T o Jan 1 1923
A D T o D ec 1923
& O Apr 1 1928
A A Aug 1 1916
A J July 1 1949
A () Oct 1 1931
A J T o July 1 1916
A J Jan 1 1951
A J Jan 1 1951
A

N o v 10 ’ 13
D June 1 1990

A A June 1 1990

A
A
A

A

A

A
A

&

A

A

A
A
A
A
&

2%

P la c e s W h e r e In te rest a n d
D iv id e n d s a re P a y a b le

Minn office; checks mall
do
do
Bank o f M ontreal, N T
do
do
do
do
do
do
New Y ork A London
do
do
do
do
New Y ork
Bank of M ontreal, N Y
do
do
Girard Trust C o ., Phlla.
1st Nat B k.St Paul,Minn
N Y , C allaw ay, Fish A C o
1st N B k, N Y A StLouis
1st N a t B k. N Y & Ohio
St. Louis, M o .
St Louis Union Trust O
Checks mailed
D ec ’ 15 int pd M a y 29 ’ 16
Feb 1916 int deferred
N o v 1915 int deferred
A pr 1916 int unpaid
A pr 1916 Int unpaid

N N ov 1 1944
O A pr 12001
O A pr 1 1942
O Apr 1 1942
D June 1 1943
D oc 1915 Int deferred
A A ug 1 1990
Feb 1916 int. deferred.
N May 1 1942
N o v 1915 int p d M a y ’ 16
S Sept 1 1943
M arch ’ 16 int paym ent
S Sept 1 2004
was deferred
J Jan 1 1936
an 1 1916 int deferred
J July 1 1929
Jan 1 1916 int deferred
O Apr 1 1940
N May 1 1916
N o v 1915 int not paid
D D o c ’ 16-J’ne ’ 23 D ec 1915 prin A int paid
J,July’ 16-July ’ 24 Jan 1916 p A int paid

i

Eastern,Natchez, Miss., to B rookhaven, 66 miles, taken over b y consolida­
tion In June 1909. Extension proposed to Gulf of M exico. Stock a u tb.,
and outstanding, July 1914, $3,940,000; par. $100. D ividends o f 6 %
y rly. paid to Oct. 1 1907; 1913, 1 % ; 1 9 1 4 ,2 % ,(1 % F .A A .); F e b ., 1915, 1 % .
R o n d s . — 1st M. bonds dated July 1 1909, limited to $10,000,000, are Issu­
able at $25,000 p. m .; they are subj. to call by lot at 110 for yearly sinking
fund of $300 p. m. of road covered from July l 1912; also as an entire Issue at
same price
They are guar., p. A I., by U. S. Lum ber Co. V . 88, p. 1561.
E A R N IN G S .— 10 m o s .,(1915-16............... Gross, $678,328; net, $217,205
July 1 to A pril 30.
\1914-15
.........Gross, 646,937; net. 196,524
Year ending Juno 30 1915, gross, $771,427; net. $240,615; other incom e,
$78,564; Int. on bonds, $205,000; sink, fund, $49,200; dividends. $78,660;
bal., d o f., $13,681. In 1913-14, gross, $945,741; net, $306,961; int. on
bonds, $205,000. Pres.. F . L . Pock; Sec., G . F. R oyce. O ffice, Hatties­
burg. Fiscal agents, C alaway, Fish A C o ., 37 W all S t.— V . 101, p. 1714.
M ISSISSIPPI RIVE R A BONNE TERRE R Y — Owns Riverside. M o.,
on Mississippi R iver, to Doe Run, M o., 46.44 miles, with bra nches, 18.10 m .;
also 43.44 miles of industrial tracks: total tracks about 108 miles.
S T O C K .— Stock auth. and outstanding. $3,000,000: par $100. Diva
paid from 1900 to 1910, 6 % : 1910-11, 7 % ; ’ 11-’ 12, 6 % ; ’ 12-’ 13, 5 % .
B ON DS.— The $2,500,000 1st M. gold 5s of 1911 are secured b y a closed
first m tge. on the property owned and hereafter acquired except about onehalf In value of the equipment, and further by deposit of a $2,500,000
20-year 5 % note of the St. Joseph Lead Co. They are redeemable at 105
as a whole or by lot for a sinking fund of $25,000 yearly for first 5 years and
$50,000 a year thereafter. V. 93, p. 589, 871.
E A R N IN G S .— 10 m o s..(1915-16......... ......Gross, $690,459; net, $283,634
July 1 to April 30.
(1914-15------------- Gross, 565,135; net, 246,894
.E A R N I N G S .— For year ending June 30 1914, gross, $679,110; net.
$250,636. In 1914-15, gross. $693,685; net, $310,923.
Pres., Clinton H. Crane; V .-P ., R . R. S. Parsons: T reas., G . S„ Parsons:
S ec., F . H . Dearing. N . Y . office, 5 Nassau St.— (V . 101, p . 4 9 . 1
, MISSOURI & ILLINOIS BRID GE & BELT R R .— Has bridge 2,100 feet
long across the Mississippi River at A lton, 111.; also 2 miles of road. Owned
by Cleve. Cine. Chic. A St. Louis, Louisville A N ashville, St. Louis Iron
Mtn. A South.. Balt. A Ohio, Missouri Pac., W abash, Chic. R ock Island A
P ac., C hic. A East. III., M o . K an. A T ex. and St. L . Vandalla A Terre
Haute (Penn. R R . system ). Incorporated In A ug. 1904 as successor of the
St. Clair Madison A St. Louis Belt Rahroad. V. 79. p. 1642, 681. Stock
$2,500,090; outstanding, $187,000.
For year ending June 30 1915,’
gross, $42,492; net, $15,281: other incom e, $85,766; Int. A taxes. $60 680"
rentals, A c., $45,182; b a l.,d e f., $14,815. P res., H enry M iller; Sec. A Treas ’
VV. F. Bender, R ailw ay Exchango B ld g ., St. Louis.— (V . 88, p. 1128.)
’
M IS SO U R I K A N SA S & T E X A S R Y .— Operatos a line with north­
ern terminals at St. Louis, Kansas C ity , Junction C ity and Hannibal
M o., extending southerly across the Oklahom a and the Texas cotton belt
to tidewater at Galveston, on the Gulf of M exico, and to San A ntonio.
T ex1, and Shreveport, L a., with branches. (*See this com pany.)
M . K . & T . R y . — O w n e d (1663 m .) M i l e s . M . K . & T . o f T e x . - O p e r . (345 m .)—
Jet. near St. Louis to Red River 629 •Tex. C ent.(99% stock owned) _ 309
Hannibal, M o., to Franklin J e t. 105 •Wichita Falls R y ____IN ot
18
K. C ., M o., to Parsons, K an___
94 W ascom to Shreveport;ow ned.
19
Parsons. K an., to Okla. C it y .. 203 O p . J o i n t l y [ a . ) — M . K . & . T . R y . ( 9 \ m .)
Junction City to Parsons, K a n . 158 St. Louis to Machens, M o_____
27
K. C. June, to Paola, K an_____
86 Kansas City to P aola......... ........
43
Oklahoma City to A to k a ______ 132 Dewey to Bartlesville_________
4
Osage June, to Verdark, O k la ..
79 Moran to PIqua________________
7
Fallis to Guthrie, O kla________
23 W ichita Falls Lines_________
4 18
Other branches_________
154 (6) -Vf. K . <fc T . o f T e x . (155 m . ) —
W hltesboro to Fort W orth ____
71
M . K . & T . o f T e x . - O w n e d (1,153 m .)— Houston to Galveston_________
50
Red R Iv.to H ouston,via F t .W . 357 Sou. Pac Connection. San A n t.
Denison to H lllsb., via D a lla s.. 172 Austln to San Marcos (see Int.
87
W hltesboro to H enrietta______
A Gt. N or.; V . 94. o . 4 16 )___
Greenville to Shreveport______
150 Beaumont A Great N o rth e rn ..
Other branches_________________ 387
T otal operated Juno 30 1915_____ 1_________________________________3,865
O R G A N IZ A T IO N .A c.— Reorg. In 1890 without foreclosure. V .49.p .719.
In 1911 the stock of the W ichita Falls A Northwestern R y . and W ichita
Falls A Southern R y ., together operating 418 milos, was acquired. See
separate statements for each, also com m ittees below. V . 95, p . 1057.
In O ct. 1912 purchased entire stock o f Beaumont A Great N orthern R R .
extending from W eldon to Livingston, T e x ., 49.3 miles. V . 95. p . 968R E C E IV E R S H IP .— Pres. Charles E. Schaff was on Sept. 27 appointed
receiver for the com pany b y Judge Adam s In the U. S. Circuit C ourt at
St. Louis, owing to floods, floating debt, failure o f holders o f $950 000 5 %
Secured G old Notes to accept extension till M a y 1 1916 at 6 % , Hallgarten A
C o. and J. A W . Seligman A C o. are continuing the preparation o f a reorgani­
zation plan. V . 102. p . 88 6 .
In D ec. 1915 Central Trust C o ., m ortgage
trusteo, filed suit to foreclose C onsol. M tge. o f 1910 (bonds all pledged as
collateral) for default O ct. 1 1915. In April 1915 Farmers’ Loan A Trust
C o. brought suit to foreclose tho First A R ef. M tge. V . 102, p. 1540. See
below and V . 101, p. 1973.
D e f a u l t — I n t e r e s t P a y m e n t s .— On N o v . 1 and D ec. 1 1915 no Interest was
paid on any o f the outstanding obligations, direct or Indirect, pending in­
vestigation b y receiver. On Jan. 1 1916 tho only interest paid was on the
equip. 5s o f 1914, Beaumont A G t. N or. 1st 5s and W ichita Falls A N . W ,
R y . (throe Issues), excl. W ichita Falls A So. 1st 5s. V. 102. p. 67. In
Fob. 1916 tho interest on 2d M . 4s o f 1990 and Kansas C ity A P acific bonds
was deferred; in M arch tho interest then duo on First A R ef. M . 4s duo
2004; M . K . A T . C o. o f T ex. 1st M . 5s. duo 1942; Texas A Okla. 1st M .
5s, duo 1943 (V . 102, p. 976). in April 1916 that due on St. Louis D iv .
4s and M K . A Eastern 1st 5s. V . 102, p. 1346; V . 102, p . 522. 886; V .
101. p . 1553, 1886.
In April and M a y 1916 tho roceiver paid tho follow ing coupons: ( a ) In'*
duo N o v . 11915 on tho M o . Kan. A Okla. $5.46?-,.000 5 % 1st M . bonds and
on B oonvlllo Bridge $958,000 4 % 1st M . bonds; (6) D ec. 1915i n t. on

84

[Vol. 102.

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., see n o tes on f ir s t p a g e]

M iles
R oad

D a te
B onds

Par
V a lu e

A m ount
O u tsta n d in g

W hen
P a y a b le

R a te
%

Last

P la c e s W h e r e I n te r e s t a n a
D iv id en d s a re P a y a b le

D iv id e n d
a n d M a tu rity

Missouri Kansas & T exa s— (Con)

S e c u r i t i e s o f A l l i e d C o m p a n i e s —■
Dallas A W aco 1st M 520.000 p m g g u p A l.C e.xx o*
M K A T of Tex 1st M 5 20.000p m ...C e .x x o * \ G u .p .
B oonv Bridge 1st M g s fd V .7 3,p .4 9 4,C e.zo*j A 1-K a ty O ffice Bldg C o 1st m ortgage___________ c*& r*
T ex C en tls tM $ 2 .000,000g red l 10($ 150,0004s) F.xc*
W ichita Falls & N W 1st M g red 105____ FC .xc& r
Pan Handle D iv 1st coll lion M gold s f ____ F C .xc
First & ref M $10,000,000 g o ld re d l0 5 --U s m .x c *
W ichita Falls & So 1st M $780,000 g gu s f ._ F C .xc*
Beau & G t N o 1st M g $17,500 p m red 102 >4____ G
Mo & N A rk R R — R cc ctfs $2,500,000 red par________
Mo O k la & G u lf R R — 1st M $20,000,000 (te x t).S S t
Mo O k la & G u lf R y— R eceiver's certific’s $1,750,000
First M $10,000,000 g o ld ------------------------------ S S t.c*
Second M gold ________________ _____________________
M o Okla & G ulf R y o f Tex 1st M $ 1,0 0 0 .0 0 0 .-S S t
do
do
series A due $34,000 s -a .- G P
Missouri Pacific— Stock 5240,000,000 authorized) —
Paolflo R R o f Missouri 1st M ext In 1888 g old ___Ba
Second mtge ext In 1891 In gold St L to K C .xc*
First m tge St Louis real estate ext In 1892 g o ld .x
First m tge Caron Br g gu p & l (end) ext 1 8 9 3 --Z
Third M ext 1906 red 105 (V 8 3 . p 4 9 2 . 1348) C e.z
Missouri Pao 1st M Lexington to Sedalla, M o, g . . z
Consolidated m ortgage 530.000,000 g o ld _______ zo*
T rust 5s o f 1917 g o ld _____________________ U n.xc*& r
First coll M 510,000.000 g (V . 50. p. 6 6 9 )-B a .zo»rA r
40-year 4 % gold loan coll t r g r e d at 102>4-Ba.xc*& r
Ler & Caney V 1st M g gu(V 70. p 1095)assum ed.zo*
Verdigris Val Indep & W 1st M g guar a ssu m ed ..z
K O N W 1st M pref “ A ” g assumed red 1 05---- Baz
Cent Br 11 P 1st M g a ssu m ____________________Un.x
Central Branch 1st M gold a s s u m e d .................... Bax
Kan A Col Pac 1st ref M g gu a ss u m ed ..E q .x c*A r
First A ref M 5150,000,000 red con v tcx t-G .x c* A r*
Boonville St L A South R y 1st M g gu red 107 H -E q x
Secured gold notes red 101 ext at 6% 1 5 -.U n .y c
Equip A ss’n obllg’ ns, Ser I gold 577,000yearly-------Equip notes scries 2 due 5147,000 s-a red par— Cex

5 g
$1,000 $1,340,000
5 g
1,000
4.505,000
947,00(1
4 g
1,000
200,000
5^ g
500 A c
2,000,000 4 A 5 g
1,000
2,144.000
5 g
1,000
847,000,
5 g
1.000
1.000
3,519,000
5 g
729,000
5 g
1.000
883,000
1,000
5 g
6
2,062,750
250 A c
5
100 10,655.200
1,500,000
6 g
1,000
5 g
7,007,000
100 Ac
1,407,000
5 g
5
1911
350.000
5 g
100 82,702,585
6,996,000
4 g
1,000
1868
2,573,000
5 g
1,000
1871
800.000
5 g
500 Ac
1872
237,500
414 g
500
1873
4
3,828,000
1,000
1876
650,000
5 g
500 Ac
1880
6 g
1.000 14,904,000
1880
5 g
1,000 14.375,000
1887
9,636,000
5 g
1.000
1890
500 Ac 37,255,000
4 g
1905
520,000
1,000
5 g
1886
806.000
1,000
5 g
1886
1,024,000
5 g
100 Ao
1894
2,500,000
1.000
4 g
1898
3,459,000
4 g
1.000
1899
3,972,000
6 g
1908 1,000 Ac
5 g
100 Ac 29,806,000
1909
1,000
590.000
5 g
1911
1,000 24.773.000
6 g
1911
1,000
77,000
5 g
1905-7
1.617.000
5
1.00!)
1912

66 1890
225 1892
1901
1912
309 1893
154 1909
57 1910
378 1911
52 1908
49 1909
1915
1911
1915
350 1904

285
13
57
755
1.114
70C
52
84
162
100
288
3,779
44

$39,999,500 1st M . 4s; (c) N o v . 1915!couponsJDallas & W aco 1st 5s o f
1890- W ichita Falls Sc So. Jan. 1916 coupons will bo paid Juno 26.
P R O T E C T IV E C O M M IT T E E S (see V . 101, P. 1903, 1189, 1272):
T w o - Y e a r S e c u r e d G o l d N o t e s ( E x t e n d e d a n d U n e x t e n d e d ) . — Willard V.
K ing, Chairman; C . A . Austin, S ec., 60 B roadway, N . Y . C ity: Central
Trust C o ., depositary. V . 101, p . 1093. 1553, 1973; V . 102, p . 1250, 1436.
F i r s t M . 4s d u e J u n e 1 1990.—'W illiam Church Osborn, Chairman; Paul
G . Tom linson, Secy.; U . S. Trust C o ., N . Y ., depositary. V . 102, p . 67.
D u t c h C o m m i t t e e f o r lsf 4s.— Chairman D r. A . F. Van Ilall o f II. Oyons
9c C o ., Am sterdam .
V . 102, p . 154.
S e c o n d M t g e . B o n d s . — E . G . M errill, Pros. Union Trust C o .. Chairman;
G . K . B . W ad e, S ec., 80 B roadw ay. V . 101, p . 1189, 2145; V . 102, p . 522,
2077,2254.
D u tch C om m itteo.— D r. II . K . W eston dorp , Am sterdam , Chairman.
V . 102, p. 154.
,
F i r s t E x t e n s i o n 5s o f 1894.
John W . Platten, Chairman: Chauneey II.
M u rp hey, 55 Cedar S t., N . Y . , Sec. V . 101, p. 1272; V. 102, p. 345.
S t . L o u i s D i v i s i o n , F i r s t M t g e . R e f . G o l d 4s.— Edwin S. JVIarston, Pros.
Farmers' L t. & T r. C o ., Chairm an; Augustus V . Ileely , 22 W illiam S t.,
N . Y . , Secretary. V . 102. p . 67.
F i r s t A R e f . M . 4 % B o n d s . — Alexander J. Hem phill, Chairm an: W . O.
C ox, V ico-Pres. o f Guaranty Trust C o ., as Sec. V . 101, p . 1093, 1189;
V . 102, p . 522.
G e n e r a l M t g e . 4JtJs.— O tto T . Bannard, Chairman: Herbert W . M orse,
S ec., 26 B road S t., N . Y .; N . Y . T r . C o ., depositary. V. 101, p . 1093;
V. 102. p . 253, 1436, 1626, 1989.
P r e f . S t o c k a n d C o m . S l o c k . — A lvin W . K rech, Chairman; Equitablo
Trust C o ., depositary. V . 101, p. 1274.
M i s s o u r i K a n s a s A E a s t e r n R y . Is! M . 5 % B o n d s . — Chairman, John W .
Stedman; See., George E . W arren, 60 B roadway, N . Y . D epositary,
C olum bia T rust C o .. N . Y .; agent for depositary, Connecticut Trust &
Safe Deposit C o. o f H artford. V . 102, p . 886.
K a n s a s C i t y & P a c i f i c 1 st M . 4s.-—Chairman, L . E dm und Zackcr, H art­
ford, C onn.; S e c., J. C . Traphagen, 46 W all S t., N . Y . D epositary, Frank­
lin Trust C o ., N . Y . V . 102, p. 1163, 1346.
S h e r m a n S h r e v e p o r t & S o u t h e r n R y . lsf M . 5s.— R . W alter Leigh, C hair­
man; Josoph S. Dale, 52 W illiam S t., Sec. D epositary, Colum bia Trust
C o ., N . Y . V . 101, p. 1274; V . 102, p. 713.
M i s s o u r i K a n s a s A O k l a h o m a 1st M . 5s.— John W . Platton, Chairman;
U. S. M tge. & Trust C o ., N . Y ., depositary. V . 102, p. 800, 1346.
B o o n v i l l e B r i d g e lsf M . 4s.— Chairman, R obort Struthors Jr.;
Sec.,
Emorson W . Judd, 37 W all St. D epositary, M etropolitan Trust C o .,
N . Y . V . 102, p. 1625.
W i c h i t a F a l l s A S o u t h e r n R y . lsf M . 5s.— (a) R obort E lliott, M ilwaukee;
W in. M . Buchanan, B onj. F . T a ylor (S ec.). D epositary, First Trust &
Savings B ank, C hicago. V . 102, p . 977. (b ) Trum an II. N ew berry,
D etroit, Chairman; Jamos R . C oulter, S ec., 804 Union Trust B ld g ., Detroit;
depositary, Security Trust C o ., D etroit.
M . K . A T . R y . o f T e x a s lsf M . 5 % B o n d s .— Chairman, Jules S. Bache;
depositary, Empiro Trust C o ., N . Y .; S ec., Edward P . G oetz, 42 B road­
way, N . Y . V . 102, p . 1060, 1540.
T e x a s A O k l a h o m a R y . lsf M , 5s.— F . N . B . Close, Chairman; Perry B .
B oguo, 16 W all St., Sec.; Bankers Trust C o ., depositary. V . 101, p. 1189;
V . 102, p. 154, 801, 887.
W i c h i t a F a l l s A N . W . R y . F i r s t A R e f . M . 5s.— Elisha W alker, Chair­
man; G . N . Lindsay, S oc., 25 B road S t., N . Y . N o deposits called.
See a d v ., p. xv . “ C hronicle,” Juno 17 1916.
L A N D G R A N T .— T ho U . S. Supremo C ourt on N o v . 9 1914 decided
against tho com pany tho suit to recover the valuo o f tho land grant in former
Indian T erritory (now O klahom a), 3,110,400 acres, subject to Indian title.
V . 99. p. 1451. Seo V. 79, p . 903, 1281; V. 81, p. 668, 1042; com paro
V . 67, p .2 2 2 ; V . 55, p .9 3 7 ; V. 61. p . 1155: V . 77. p .2 3 3 9 ; V . 82, p. 1102:
V . 84. p. 508. 1248; V . 85. p . 736.
D IV ID E N D S .— On pref., 1906 to N o v . 1913, 4 % yrly.; none since.
B ON DS.— M. K . A T . 1st and 2d mtges. or 1890 (abstracts in V. 51,
p. 495) cover, besides right to land grant, 1,599 miles of road. Including line
H annibal, M o., to Boggy Tank (except 71 miles trackage), sundry branches,
and Sherman Shreveport A Southern, but see below.
M i s s o u r i K a n s a s & E a s t e r n b o n d s were assumed In June 1896.
(V . 63.
p. 30.) $4,076,000 St. Louis Div. 1st ref. bonds reserved for retirement
of both Issues. V. 72. p. 1031: V . 75. p. 608.
S h e r m a n S h r e v e p o r t A S o u t h e r n m tge., limited to $3,689,000, all Issued, of
which $2,000,000 pledged under M . K .T . & m ortgages. B onds were as­
sumed on consolidation in 1901. V . 7 2 . D . 1034,1115.
The Missouri Kansas A Oklahoma and Texas A Oklahoma bonds, issued
at $20,000 per mile, guaranteed, have been assumed. V . 74. p. 1038:
V . 75, p . 185, 733; V. 77. p . 252; V. 78, p . 48; V . 79. p. 968; V . 102, p. 800.
Of the first and refunding 4s of 190-1 ($40,000,000 auth. issue), $12,037,­
000 Is reserved to retire divisional mortgages at or before m aturity; balance
unissued ($17,523,000) for future purposes.
They are a second lien on
507 miles o f road and on the first m tge. bonds o f Denison A Washita Valley
R y ., 4.7 miles, and a first lien on terminals and equipment of estimated
value of $24,380,000. V. 79. p. 968, 1281. 1332; V. 80, p. 222, 712; V. 81.
p. 613: V . 82. p. 987, 1497; V. 86, p. 1101; V. 88, p. 158, 295.
G e n .4 H % m ort. sinking fund, 2% of bonds yearly from 1911. V . 82,
p. 218, 334, 692; V . 84, p. 1551; V . 85, p. 346. 654; V. 88, p. 101, 158.
Consolidated mortgage of 1910 Is limited to $125,000,000; $60,000,000 re­
served primarily for refunding and the remainder are Issuable only under
restrictions. The bonds were on June 30 1915 secured by the pledge of
$13,073,000 bonds and $6,509,600 stocks, including $4,776,000 M. K . A T .
T erm . Co. of St. Louis 1st 5s, $6,830,000 M. K . A T . gen. 4J4s. $1,305,000
Texas Central pref. and $2,662,300 com m on stock, and b y a lien on the
property o f tho M . K . A T . subject to existing lions. On Juno 30 1915
$30,292,000 o f tho consolidated bonds had been Issued, o f which $25,825,000
were pledged to secure tho $19,000,000 tw o-year notes duo as extended
M a y l 1916, and $4,467,000 wero pledged as security for bills payable.
A s to foreclosure suit, seo a bove. V. 92, d . 725. 795; V. 90, p. 1491; V
91, p . 336; V. 92. p. 1179, 1375, 1500. T h o $19,000,000 2-year secured
gold notos dated M ay 1 1913 wero extended M a y 1 1915 for ono year at 6 % .
V . 96, p. 790, 863, 1157, 1229; V . 100, p. 1349, 1150; V. 101, p. 846.




M A
M A
M A
J A
A &
J A
J A
J A
J A
J A
M &
M A
FA A
M A
M &
if

N
S
N
1)
O
J
J
J
J
J
N
N
20
N
N

A

N

F A A
A J
J
M & N
A A O
M A N
F «Sc A
M A N
\1 A S
F A A
M A S
J
A J
M A
J A J
J A D
F A A
F A A
M A S
F A A
A D
J
CJ— M
M A N

s

N o v 1915 Int paid A p r'16
N ov 1 1940
M ar 1916 Int deferred
Sept 1 1942
N ov 1915 int paid A pr'16
N ov 1 1951
Juno 1916 int. paid
D ec 1 1932
61 B roadw ay, N Y
A pr 1 1923
July 1916 Int to bo paid
Jan 1 1939
July 1916 Int to bo paid
Jan 1 1925
July 1916 hit to bo paid
Jan 1 1940
Jan TO int paid Juno 26
Jan 1 1938
61 Bway, N Y.JanTO p ’d
July 1 1939
M erc Trust C o, St L , M o
M a y 1 1918
N o v 1913 coup not paid
Nov 1 1961
Fidelity T r C o , Kan C ity
l-'eb 20 1917
N o v 1913 coup not paid
N ov 1 1944
do
do
June 1 1925
do
do
1941
do
do
N ov l 1944
.
Jan 30 1908 2 & 165 B roadw ay,N ew York
Bankers Trust Co N '
Aug 1 1938
do
(Jan 1916 paid)
July 1 1938
do
M a y 1916 paid
May 1 1938
do
A pril 1916 paid
Oct 1 1938
do
Jan
1916 paid
July 1 1938
Fob 1 1916 coup notpaid
Aug l 1920
M a y'16 paid, Bank Tr
N ov 1 1920
Sent 1915 cou p not paid
Jan 1 1917
Feb 1916 cou p not paid
Aug 1 1920
Sept 1915 coup not paid
Men 1 1945
Jan 1916 cou p not paid
July l 1926
M a r T 6 cou pon paid
Moh 1 1920
Jan 1916 coup not paid
Jan 1 1933
Juno 1916 not paid
June 1 1948
Fob 1916 cou p not paid
Feb 1 1919
Fob 1916 coup not paid
Feb 1 1938
Sept 1915 cou p not paid
Sept 1 1959
Fob 1916 coup not paid
Aug l 1951
All paid, if extended
June 1 1916
v -w York
Dec 1916
Central Trust C o , N Y
To Nov I9°1

M . K . A T . o f T e x a s m tgo., $10,000,000, soo guaranty.
V. 56, p. 604;
V. 102, p . 1060, 1626.
,
,r „
Tho S o u t i i w e s t e r n C o a l A I m p r o v e m e n t C o . ' s bonds are guaranteed. M ort­
gage ($1,000,000) covers coal lands In Indian Territory; the com pany also
owns 2,350 acres additional. Den. & W ash. R y., 4.7 miles, mines. A c. In
M ay 1913 sold $1,900,000 5% equipment notes. V. 96, p. 1489. In A ug.
1915 purchased rolling stock for $895,475. o f which $50,000 paid In cash and
romamdor due in yearly rontal paym ents. V. 101, p. 694.

10

E A R N IN G S .— For ten m onths ending April 30:
M o n th s en d in g
A p r i l 30—

G ross
E a r n in a s .

1915-16......................$27,110,115
1914-15...................... 28,232,058

N et
E a m in n s.

C h arges
T ire s.

A

B a la n ce,
S u r .o r D e f.

$4,288,928 $5,813,106 dof.$ 1,524,178
7,763,457
5,854,819 sur. 1,908,633

A N N U A L R E P O R T .— Annual meeting first Thursday after first M o n ­
d ay in A pril. Itoport 1914-15 was given at length in V. 101, p. 1799, 1815.
1914-15.
1913-14.
1912-13.
1911-12.
3,865
3,825
3,677
3,398
Avorago m iios__________
Gross ea rnings...............$32,898,759 $31,917,924 $32,346,258 $28,186,719
Operating exp.. A taxos. 24,295,463 24,726,353 24,096.316 22,266,030
Operating Incom o____ $8,603,296
N et incom o______________$8,818,130
Interest on bonds______ $6,165,863
Other interest, A c _____
53.3,726
R e n t a ls ________________
643,556

$7,191,571
$7,408,849
$6,124,370
221,445
523,807

$8,249,942
$8,916,554
$5,965,362
68.459
565,748

$5,920,689
$6,277,085
$5,570,078
110,791
579.048

$17,168
$539,227 $2,316,985
Balance, surplus_____ $1,474,985
______ (2% >260,000(4% )520.000(4% )520,000
Dividends on pref. stock
Comparisons with 1914-15 and 1913-14 are slightly inaccurato.
O F F IC E R S .— Pros., Charles E . Schaff, St. Louis; V .- l’ ., O. Ilailo.and
C . N . W hitehead, St. L ouis, and W . A . W e b b , Dallas, T e x .; S oc., W . R .
Snodaker, Parsons, K a n .; T roas., Frank Johnson, and C o m p t., G oo. T .
C utts, St. Louis.
Directors.— Frank Trumbull (Chairman). Charles E. SchafT. St. Louis;
Harry 3. B lack, Stuyvesant Fish, W altor S. Crandoll. Henry E . Huntington
H orace E . Andrews, F. II. Davis, E . R . Tinker Jr.. N . Y .; Frank P. Frazior,
Chicago; Edward S. Rea, D avid M ulvano, E . B. Stovons, Kansas C ity.
N . Y . o ffice , 71 B ’w ay.— V . 102, p . 1626, 1718, 1987, 2077. 2254.)
A1ISS0URI & NORTH A RK AN SAS R R .— Joplin, M o., to H elena. A rk.
365.24 miles, of which Neosho, M o., to Joplin, 19 miles, and Sellgman, M o .
to W ayno. 9 miles, are trackage. V. 86. p. 168; V . 82 n. 569,1209; V .8 3 .p .3 9 ).
W.
S. H olt o f Little R ock, A rk ., and John Scullln and Josse M cD onald
o f St. Louis aro receivers. V . 94, p. 983.
In April 1915 $2,500,000 6 % 3-year receiver’s certfs. socurod b y a f.rst
Lon on tho property were authorized, o f which $2,062,750 wore sold to retlro
the outstanding $1,472.000 certfs. duo M a y 1 and for im pts.,Ac.V.100,p.2010
Stock authorized, $25,000 per mile. In A ug. 1906 mortgage was filed
to secure an Issue of $11,500,000 50-year 4 % gold bonds (St. Louis Union
Trust C o., trustee), issuable at $25,000 per mile. Entire stock and bonds
arc pledged to secure $6,000,000 5-year 5 % gold notes of tho Allegheny
Im provem ent Co. V. 85, p. 99- Outstanding June 30 1914, $8,340,000
each o f stock and bonds. T he com pany has no connection with the $900,­
000 John Scullln 6 % coll, trust bonds due O ct. 1 1914 (a private obligation of
Pres. John Scullln)-, secured by $1,223,000 o f tho Allegheny Im provem ent
C o . 5 % coll, trust notes and $576,941 certificates o f beneficial interest.
V . 93, p. 1106. 1191. Car trusts outstanding Juno 30 1915. $93,062.
E A R N IN G S .— 10 m o s .,(1915-16............Gross. $936,315; not,
$3,974
July 1 to A pril 30.
\ l914-15----------Gross, 1,008,214; not, 178,171
F or year ending June 30 1915 (365 avor. m iles), gross, $1,181,851: opd ef., $151,193; other Incomo, $83,782; Int. on receiver's cortifs., $86,1271
taxes, $69,815; rentals and other ehges., $126,308; bal., d e f., $349,602;
bond int. not paid. In 1913-14, gross, $1,293,618; net, $08,464. For 2
m os. ending A ug. 31 1915, gross, $198,176, agst. $223,373 in 1914; net,
$10,504, agst. oper. d e f., $9,196.
Chairman, D . R Francis: Pres., John
Scuilin; V7-P., Geo. L . Sands.— (V . 94. p. 1566; V. 100, p. 1592, 2010.)
MISSOURI OKLAHO MA & GULF R Y — Owns and operates 205 3
miles of main track and 41.3 miles of sidings, extending from W agoner to
Red River, via M uskogoo and H onryotta; Dewar to ond o f track, 9 m ., and
Junction to Lowerreo. 2.4 m .; Junction to Bronddo, 4 m .; M o . Okla. A
G u lf RR. (V . 96, p. 1022), W agoner, O kla., to Baxter, K an., 98.6 miles,
com pleted D ec. 1912 and projected to Oklahoma C ity , Dallas and Fort
W orth. V. 93, p. 469; V. 97, p . 887. In Aug. 1915 tho M o . Ok. A G ulf
R y. o f Texas arranged for trackago from Donison, T o x ., to Dallas and Fort
W orth, and now owns and operates 9.1 miles Red R lvor to Denison.
V . 101, p. 449. 923.
, x
„
On D ec. 11 1913 receivers wero appointed for tho M o . Ok. A G u lf R y .,
M . O. A G . R R . o f Okla. and M . O. A O . R R . o f Kansas. Alexander Now
o f Kansas C ity and Henry C . F’errls o f M uskogeo, Okla., aro now receivers.
V . 100, p. 1257. All N ov. 1913 coupons wero defaulted. V. 97, p. 1823 :
V . 98, p- 236. In Feb. 1915 authority was given to Issue $1,750,000 prior
Hen receiver's certificates for Improvements, additional engines, ro-ballasting and bettor term in als,of which $l,5OO.O0O is outstanding. T he certifi­
cates cover both railway and railroad. V . 100, p. 734, 901; V. 99. p. 1366.
B O N D S .— Railway 5s o f 1904, $25,000 per mile. V . 86, p. 1043: In
July 1912 $7,007,000 had been sold. V . 88. p. 686; V . 90, n . 977, 1171,
1363. M o . Okl. A G ulf R R . 5s o f 1911 are limited to $20,000,000 at $27,­
500 p. m ., o f which $10,000,000 offered In FYance In M ar. 1912, sold $6,692.­
000. V. 97, p. 444, 487. 698. T h o M . O. A G . R y. o f Texas 5s ($1,000,000
auth. issue), aro secured on tho lino botwoon Rod River and Donison, T o x .,
9 miles. V. 91. p. 1327: V. 93, p . 1022. Equipm ent notos Juno 30 1915,
Railway C o ., $526,347; R ailroad C o ., $168,282.
E A R N IN G S .— 10 m o s .,(1915-16........... Gross, $1,173,197; d e f., $88,453
July l to April 30.
(1914-15........... Gross, 1,015,577; d e f., 60,590
F’ or year ending Juno 30 1915, gross, $1,302,305, agst. $1,298,473 in
1913-14; op . d e f., $194,016.— (V . 100. p. 1257; V. 101, p . 449, 923.)

June, 1910. j
[For

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S .
a b b r e v ia tio n s , A c . , s e e n o tes o n fir s t p a g e ]

M ile s
R oad

D a te
B onds

Par
V a lu e

A m ount
O u ts ta n d in g

R a te
%

W hen
P a y a b le

85
L a st D iv id e n d
a n d M a tu rity

M issou ri P a c ific — ( C o n c l u d e d )
1907
Mo Pao equip bdsjg $335,000 May 1 y ’ly .C o l.x c * Ar
$1,000
$335,000
M A N May 1917
6 g
1914
do
$14,000 s-a to 1919 thon $ 1 3 ,0 0 0 -.-O P .c *
1.000
5
J A D T o D ec 1924
238.000
Ana Rcfrig Transit equip notes gold not guar— See ‘ Indu strlal Cos” and V 9 2 , p 883; V 9 5 , p 1747.
Mo Pac System — St Louis Iron Mt & Southern R y —
Gen cons A Urst guar mtgo ($45,000,000) g - Ba.zc* 1.500 ’81-’87
1,000 37.168.000
A A O A pr 1 1931
5g
do
do
gold stamped guar prln A ln t -.z o * 1.500
1,000
A A O A pr 1 1931
5.994.000
5 g
Unifying A refund M gold $40,000.000--M p .x c*A r 1,543 1899
1.000 30.551.000
J A J July 1 1929
4 g
771 1903 1.000 Ac 34.548.000
River & Gulf Dlvs 1st M $50,000,000 g -B a .x c*A r*
11 A N May 1 1933
4 g
1912
1st and ref. M $200,000,000 authorized.............. .x
29.423.000
J A J July 1 1952
6
’05-’ 13
Oar trusts ser Ser V , part y e a r l y __________________
1,000
Q— M T o June 1922
267.000
5
do
do
gold $366,000 June yearly-B a.xcA r
1907
1,000
Q— M T o June 1917
5 g
366.000
do
do Ser 2 due $145,000 s-a red p a r— Ce,x
1912
1,000
M A N T o N ov 1 1921
1.595.000
6
do
do
Sor 3 due part seml-ann________ 1914
1,000
M A S T o Sept 1 1923
372.000
5
1914
do
d o $20,000 duo som l-annually___________
1.000
J A D T o D ec '24
340.000
5
1891
Little R ook Juno 1st M assum ed___________ Ba.zc*
1,000
435.000
6
A A O Apr 11916
1903
Pine Bluff & W est 1st M assumed red 10 years 1 0 5 -1,000
880.000
A A O O ct 1 1923
5 g
1899
Little R ock & H ot Sp W 1st M gold assum ed.-S St
1,000
1.140.000
J A J July 1 1939
4 g

(1) MISSOURI PACIFIC R Y .— ( S e e M a p . ) — Operates an Important sys­
tem extending westerly and southwesterly from S t. Louis, M o., Including
main lines from St. Louis to Pueblo, C olo., 896 miles; Kansas City to Omaha,
N eb., 216 in., and branches In Missouri, Kansas and Nebraska
Through
the St. Louis Iron Mt. & South., which It controls, connection Is had with
Texas and the lines of the T ex. & P ac., Internat. A Gt. North, and the St.
Louis Southw .. the whole forming what Is known as the "G ould S ystem .”
L in e s o w n e d —
M iles .
L e a s e d L i n e s , A c .—
M iles .
44
St. Louis to P ueblo------------------ 896 Boonvlllc St. Louis & Southern
Kansas City, M o., to Om aha—
216 Kiowa Hardtner & Pacific R y .
10
87
Other main lines and branches.2,667 Trackage to St. Joseph, A c____
T otal Missouri Pacific and branch lines (V . 95, p. I l l ) _____________ 3,920
Also controls St. Louis Iron Mtn. & South, uuu leased lines, 3,365 mlle-s
Grand total Missouri Pacific mileage June 30 1915, 7.285 miles.
The Missouri Paclllc R y . Co. owns about 40% of the stock of the Denver
A R io Grande R R . C o., the latter extending from Pueblo to Salt Lake City,
while the I). A R . G. R R . Co. owns a m ajority of the stock of the Western
Pac. R y. C o., whose line, extending from Salt Lake City to San Francisco,
was com pleted In 1910, making a line from St. Louis to San Francisco.
D IV S .1 ’82. ’83-’87. ’88. '89. '90. ’91. ’92-’00. ’01. '02-’07.
1908. None
P cro t./O H 7 yly. 5 K 4
4
3
None. 2 14 5 y ly . 2)4 stk. since.
O L D B O N D S . A L L ISSU ES.— Seo Issue o f June 26 1915
R E C E IV E R S H IP .— On A ug. 17 1915 Pros. Benjamin F. Bush was ap­
pointed receiver o f tho Missouri Pacific R y . and St. L. Iron M t. & So. R y.
and In Feb. 1916 o f Kansas & C olorado Pacific (V . 102, p. 886). In Sept.
1915 foreclosure suit was brought under M o . Pac. First and R ef. M ., in
O ct. 1915 under First & R ef. M . o f Iron M t. C o ., and in M a y 1916 under
$10,000,000 1st collateral 5 % 30-year M . o f 1890. V. 102. p. 1811.
T he intorost duo Sept. 1 1915 on the $14,375,000 trust 5s 1917, the $37,­
255,000 10-year 4 % gold loan bonds o f 1905 and the $29,806,000 5 % First
and R ef. bonds was not paid. V. 101, p. 773. Other Issues In default:
Iron M ountain First & R efunding M . 6s, July 1 1915; January 1916
coupons o f Leroy & C anoy 5s, K . C . N . W . preferred A 5s: Feb.
1916 coupons on B oonvillo S t.L ou is A Southern R y . 1st M . 5s, duo 1951,
Central Branch R y . C o . 1st M . 4s, duo 1919, M issouri Pac. 1st (lo ll. 5s,
duo 1920, Lexington D Iv. 6s o f 1920 and Kansas & C ol. Pac. 1st R ef. M .
6s due 1938. The lilt, duo Juno 1 1916 on 6 % secured gol 1 notes was paid
at m aturity only on tho notes as extended till Dec. 1 1916. T he D ec. 1915
lnt. on Central Branch Union Pacific Is was paid in June 1916. Interest
has boon paid prom ptly on tho underlying bonds o f 1868 to 1876, on consol
6s o f 1880, Verdigris Val. 5s and equip, trusts (also principal as due)
Other Issues, seo table above.
P l a n o f R e o r g a n i z a t i o n B a l e d J u l y 1 1915.— This plan, approved b y K uhn,
Loeb A C o. (R eadjust. M g rs.). and tho directors, was in V. 101, p. 130.
Depositaries for securities assenting: In-N ow York, for 5 % First and R ef.
M . bonds. Guaranty Trust C o .; stock. Central Trust C o.; 40-yoar 4 %
Gold Loan bonds, Bankers Trust C o .; all other securities. Guaranty Trust
C o. (b) In other cities, sub-dopositarles for all securities, (1) St. Louis,
M ercantile Trust C o ., (2) London. Guaranty Trust C o. or N . Y . (3) There
•are also sub-depositarios for all disturbed bonds and stock in Amsterdam;
for R ef. M . 5s in Basle and Zurich; for G old Loan 4s in Zurich, Berlin and
Antwerp. Tim o for deposits as extended expires D ec. 15 1915. V . 101,
p. 015. N o underwriting has been arranged. As to am ount o f deposits,
see V. 101. p. 1553, 1629. Im portance o f plan, V. 101, p. 1807.
T ho plan provides for a reduction in fixed Interest obligations o f $60,­
652,558 and a dccroaso in tho net annual chargos o f about $3,580,772,
bringing tho same “ well within tho earnings o f the system oven under the
adverse conditions prevailing during tho past two years.”
An analysis o f tho position o f several o f tho old bond issues and tho rea­
sons for thoir treatment under tho plan was published for distribution along
with explanatory map; seo this analysis In V. 101, p. 1559, 1714.
O b l i g a t i o n s , A g g r e g a t i n g $128,460,620, t o R e m a i n U n d i s t u r b e d .
All tho St. Louis Iron M tn . A So. R y . C o. bonds, except $4,­
175,000 o f outstanding First A R ef. M . 40-year 6s, July 1
1952, and except its equip, obligations maturing to Juno 30
1918 (which are to bo paid) and Little R ock Junction R y. 6 s .$ l 10.283.120
P acific R R . o f M o . 1st 4s, $6,996,000. and 2d 5s. $2,573,0009,569,000
3,828,000
M issouri Pacific R y . C o. Third M tge. Is duo July 1 1938-----P acific R R . (o f M o .): Carondelet Br. 1st 4J4s ($237,500) and
St. Louis C ity Real Estato 5s ($ 8 0 0 .0 0 0)................................
1.037,500
Vordlgrls Valley Independence A Western R R . C o. 1st M . 5 s .
806,000
2,937,000
Equipm ent obligations maturing after Juno 30 1918--------------$41,419,792 C a s h R e q u i r e m e n t s t o b e M e l b y 50% A s s e s s m e n t o n C a p . S l o c k .
T o pay M o . Pac. R y . Ext. G old N otes (seo V. 102, p. 1 8 9 6 )-. $24,815,000
E quip, trusts maturing up to Juno 30 1918____________________
3,801,000
Adjustm ents, payinonts o f ln t., A c., under plan, working
capital, now equipm ent, Im provem ents, A c ________________
12,713,792
C a p ita liz a tio n

of

P rop osed

S u ccessor

C om pany.

[It Is liopod to consolidate tho M o . P a c. R y. and Iron M t.)
(1) O b l i g a t i o n s t o R e m a i n U n d i s t u r b e d (as above show n)______ $128,460,620
(2) N e x o F i r s t a n d R e f u n d i n g M o r i B o n d s . Total Issue, Including amounts
resorved for refunding. Im provem ents, extensions, A c ., under restrictions,
shall novor oxcood throe timos the capital stock at the time outstanding.
T o mature at a date or dates not earlier than 1965. and to bear interest at
rates not over 6 % p. a. The bonds Issued under tills plan are to boar Inter­
est at 5 % p. a ., to mature about 1965, and to be redeemable as a wholo (but
not in part) at 107J4%> and lnt. on any interest dato after 1920. A Hon,
subject only to tho undisturbed liens (total $18,328 p. m ., in case o f tho
com pletion o f tho readjustm ent In respect o f all tho securities em braced
therein), upon tho properties and franchises now owned b y tho Missouri
P acific and Iron M ountain com panion with such exceptions and additions
as the Ileadjust. Managers m ay deem wise: also a lien upon all properties
hereafter acquired with tho bonds. Prosentlylssuablo(seobelow)-$46,923,150
(3) N e w G e n e r a l M o r t g a g e B o n d s . Total authorized $100,000,000, to
mature not carllor titan 1975, and to bear Interest at rates not exceeding
6 % per annum. Tho bonds issued under this plan are to boar 4 % interest




P la c e s W h e r e I n te rest a n d
D iv id e n d s a re P a g a b le

C olum bia Trust, N Y
Girard T ru st C o ., Phlla
Bankers Trust Co, N Y
do
do
d o (Jan ’ 16 paid)
do
July T 5 coup not paid
Townsend, W helen <v t-o
B 'kcrsTrCo, N Y or Phlla
Central Trust Co, N Y
Phlla T ru st Co
Girard T rust C o . Phlla
April 1916 not paid
New Y ork and St Louis
(Jan ’ 16 coupon paid at
\St Louis Union T r C o

and mature about 1975, but redeemable as a whole (but not in part) at par
and lnt. on any interest day after 1920. A junior lien upon all property at
any time subject to the new First and Refunding m tge. Bonds shall bo
reserved under suitable restrictions to provide for im provem ents, exten­
sions, A c. Presently issuable (see below )....................................$44,399,292
(4) N e w C o n v e r t i b l e 5 % P r e f . S l o c k (p. A d .), cum ulative from Juno 30
I "13- C onvertible at holders' option at par into com m on stock at par,
subject to adjust, o f dividends. Callable by co. as an entire issue at 107 y i %
and d iv ., subject to conversion privilege. Full voting power. Ilf for any
reason it should be deemed inadvisable to Issue said pref. stock for any o f
the purposes o f this plan, 5 % incom e bonds, convertible Into com m on stock
at tho option o f the holder, m ay be substituted therefor In whole or in part;
If practicable, with voting powers.| Preferred stock presently Issuable
(se° below) ....................................................... ........................................ $76,751,635
(5) Acte C o m m o n S t o c k , presently issuable (see b elow )_________ 82,839,585
D is t r i b u t i o n o f N e w S e c u r itie s to H o ld e r s o f E x is tin g S c c u r i ie s P a r t i c i p a t i n g .
N e w 1 st & R e f. N ero G en . M . N e w 5% P f . S k .
E x is tin g S ec u r itie s —
M
5% B on d s.
4% B o n d s , o r 5% I n c o m e s .

$
%
$
%
$
%
$
82,839,585 C ap. stk. if pay-1 ........................./50 41,419.792
Ing 50% c a s h ./
[also 100% In com . stock
14.904.000 C onsol. 1st 6 s_._11 0 16,394,400
14.375.000 Coll. Tr. 5s. 1917-100 14,375,000
9.636.000 Coll .M . 5s. 1920-100 9,636,000
37.255.000 G old Loan 4s....... .................................................... 100 37,255,000
29.806.000 First A R ef. 5s............................................................. 100 29,806.000
100
650.000 Lex. D iv . 1st 5 s,_ _____________
650.000
3.972.000 Kan .A O. P. 6s.............................................................. 100 3.972.000
3.459.000 Cent. Branch 4s.............................. 50 1.729,500 50 1.729,500
2.500.000 O. B r. U . P . 4 s .,
.................. 50 1.250.000 50 1.250.000
520.000 L o ro y A C .V .ls t5 s _____
100
520.000
. 100 1.024.000
1.024.000 K . C . N . W . 5s................... ....................
500.000 II. St. L A So. 5 s. ........................
100
500.000
,
„ „ „ S t.L . I .M t .& S o .
4.175.000
1st A R ef. 6 S ..1 05 4,383,750
45.135 Stockoutstanding _____________
100
45,135
393.000 Lit. R ock Jet. 6s. 100
393,000
1.741.000 T . A 1>. notes e n d .100 1,741,000
rl„
,
• T o t a l ................
46.923.150
44.399.292
76.751,635
I ho M o . Pac. R y . Extended 6 % notes maturing June 1 1916, and any
unpztcndcd notes o f said issue, together aggregating $24,845,000, are to be
paid in cash, as are also the $3,861,000 o f equipment obligations o f the
M o . l*ac. and Iron M tn . cos. maturing before June 30 1918.
Intorest on deposited securities and on new securities will be adjusted.
All depositors o f bonds will bo entitled to receive in cash out o f moneys
provided b y the reorganization on or before tho consummation o f the read­
justm ent all Interest due on or before Jan. 1 1916.
I n c o m e A v a ila b le f o r V a r io u s C la sses o f S e c u r itie s .

Based on tho fiscal year ended June $0 1915 tho in­
com e available for fixed charges (after paym ent o f rent­
als, hire o f equipm ent, interest on equipm ent obliga­
tions, A c ., and after making certain adjustments resulting
from tho new capitalization) would bo abou t________________ $12,000,000
D e d u c t — Interest on obligations undisturbed by rea d ju stm en t..
5,504,357
Intorost on $46,923,150 new First and Refunding M . 5s____ 2,346,158
Interest on $44,399,292 now General M ortgago 4 s ................. 1,775.971
Balance (equal to over 3 % on $76,751.635 o f pref. stock) __ $2,373,514
"T h cso statements take no account o f Increased earnings reasonably to be
expected from tho expenditure o f the new m oney for equipm ent, A c .”
The Income available for fixed charges (corresponding to tho aforesaid
$ 12 .0)0 ,0 0 0 ), based on the fiscal year ended June 30 1914, would be
$12,991,228. Tiie decreaso for the year 1914-15. it Is stated . is due chiefly
to a now charge o f $1,000,000 for depreciation o f equipm ent for tlio year.
V o t i n g T r u s t — D i r e c t o r s . — The Readjustm ent M anagers m ay, in their
discretion, causo the deposit o f tho newr stock (com m on or preferred or both)
In a voting trust for not exceeding five years. .
Tho first hoard o f directors shall consist o f persons approved b y Alexander
J. H em phill, O tto II. Kalin, Seward Prosser, James N . Wallace and R obert
W insor, or by a m ajority o f them , and by the Readjustm ent Managers.
. C o m m i t t e e s A p p r o v i n g P l a n . — (1) First A R ef. M . 5s, Alexander J. Hemp­
hill, Chairman. (2) 40-year Gold L oan, Frank N . B . Close, Chairman.
(3) Stock com m ittee. James N . W allace, Chairman. (4) For all issues
except as specified. Kuhn, Loeb A C o.
I n d e p e n d e n t C o m m itte e s .

(a) K a n s a s C i t y N . IV. 5s— Emilo K . Boisot, Chairman; James P . Fooley,
Secretary, 56 W est M organ S t., Chicago.
(b) C o l l a t . T r u s t 5 s , 1917 a n d 1920— M oreau Delano (Brown Bros. A C o .),
N . Y .. Chairman; Morrell W. Gaines. 59 Wail S t.. N . Y ., Secretary.
Represents a considerable m ajority o f first-named issue and substantial
amount o f the other. Certifs. o f deposit listed on N . Y . Stock exchange.
V. 101, p. 773. 923, 1273, 1465, 1807.
(c) C e n t r a l B r . U . P . 1st 4s.— Francis Ralston W elsh, Chairman, 109
So. 4th S t., Phila. V. 101, p. 1271.
(d) C e n t r a l B r a n c h R y . Is/ 4s, due 1919.— Charles A . P eabody, Chairman
Emerson W . Judd, Sec., 37 Wall St. M a jority deposited. V. 101. p .
1369; V. 102, p. 885, 2077.
(0) D u t c h C o m m i t t e e f o r F i r s t A R e f . 5s—J. D . Santilhano, Secretary,
Amsterdam; V. 101, p. 774. (f) D u t c h C o m m i t t e e f o r C o l l a t . 4s o f 1905—
Dr. C . Hym ans, Secretary, Amsterdam: V. 101, p. 774.
(g) K a n s a s - C o l o r a d o P a c i f i c 6s.— R . Fulton C utting, Chairman; A lexander
J. M cAllister, 55 Wall St.. Sec.; Franklin Trust C o .. N . Y ., dep osita ry.
Over 75% deposited. V. 101, p. 2072; V. 102. p. 154, 886.
(1) N o t e h o l d e r s ' C o m m i t t e e — Edwin G . Merrill, Chairman. V . 99, p. 197.
T h r e e - Y e a r S e c u r e d N o t e s . — In Juno 1916 upon tho offer o f tho receiver
to guarantee paym ent on security o f additional collateral, tho holders o f

8 6

[Vol. 102

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
(F o r a b b r e v ia tio n s , & c . , s e e n o tes o n f i r s t p a g e ]

Mobile & Birmingham R R — Pref stock (§9 00 ,00 0 )-----Prior lien gold §600,000......................................Ce.c
First m ortgage § 1 ,2 0 0 ,0 0 0 -....................... ...... Ba.c
Mobile & Ohio— S to c k _____________________________ .
First M Mobile to Columbus (principal g o ld )..F ,z c *
First M exten Columbus to Cairo A branch g -.F .z o
General mtge for *10,500,000 (now gold) s f.F re*
M ontgom Dlv 1st M §4,000,000 g(V 6d,p 1045) Cc.i c*
M obile A B Sh 1st M §200,000 assumed gold -F .zo*
1st term and coll tr M § 1,200,000 gd u e §60.000 s -a .x
M A O St Louis D lv M $3,000,OOOgred 102)4 C exc*
St Louis A Cairo 1st M gold assum ed------------------ zc
Equip tr Ser “ A ” sinking f u n d . . ......... ..................._x
do
Ser “ B” sinking fu n d ................................ .x
do
Ser “ F” §22,000 and $23,000 s -a ............. x
do
Ser “ G " $ 32 ,00 0 s.-a.— last 3, $3l.000B a.x
do
Ser “ H ” $50,000 s-a, last three $ 5 3 .0 0 0 ..
d o Ser “ J ” duo s-a $47,000 Dec, $48,000 J ’no Ce
M ob ile T erm in a l & R y— See Ala Tenu A N or I t y .. .
M oh aw k & M a lon e— See N ew York Cent A H It R R .
M onongahela R R 1st M $1,500,000 joint guar____ k
Monongahela River R R — Bonds— See B A G R R
Montana Wyorn & Sou— I s t M g r e d 110 te x t.-E m x c*
M ontgom ery & Erie Rv— 1st M iold 7s extended in’86)
M o n to u r R R — 1st M g $ 2 ,750.0 0 0 red l0 5 sf text U P.xc*
M o n trea l C en tra l T erm in a l Co— 1st M red 1 0 5 ..
M oreh ea d & N or F ork — 1st M g trust Clearf T r C o .x
Morelia & Tacam baro — First M gold (see text) Usm.xo*
M organ's La & Texas — First M (N O to Morg C )F.zc*
First m ortgage Alexandria Extension gold ______ Fz

M ile s
R oad

D a te
B onds

Par
V a lu e

$100
150 1895 200, 1000
150 1895 200,1000
100
472 1879
500 Ac
1,000
525 1883
500 Ac
525 1888
1,000
189 1897
500 Ac
46 1899
1911
1,000
15fl 1913
500 Ac
150 1886
1,000
1899
1899
1.00 )
1,000
1912
1.000
1913
t.000
1914
1916
1,000

A m ount
O u ts ta n d in g

$100,000
4
600,000
5 g
1,200.000
4
6,016,800 4 in 1915
7.000,000
6
1,000.000
6 g
9,472,000
4 g
4,000,000
5 g
200,000
6 g
600.000
5 g
2.500.000
5 g
4,000,000
4 g
498,000
5
499.000
5
270,000
4)4
5 g
477,000
909,000
5 g
950,000
4)4

1915
1902

1,000

1,254.000

1909
1866
57 1913
1914
1908
55 1903
95 1878
127 1880

1.000
1.000
1,000
£25, A c
1,000
1,000
1.000
1,000

890.000
130.000
2,695.000
£1,028,800
373.000
1,200,000
4,935,000
1,494,000

37
33

R a te
%

g
g
g
g

7
6g

D iv id e n d
a n d M a tu r ity

P la c e s W h e re In te rest a n d
D iv id e n d s a re P a y a b le

J A J July 1 1916 2% JPM organA C o.N Y , ALon
J P Morgan A Co, N Y
J A J July 1 1945
do
do
■J A J July 1 1945
Yearly June 25 '15. 4% W ashington, D C
Farmers L A Tr Co, N Y
A D Dec 1 1927
j
do
do
Q —Jan July 1 1927
Hanover Nat Bank, N Y
M A S Sept l 1938
do
do
F A A Feb 1 1947
First Nat B k, Mobile, Ala
M A N May l 1949
F A A 15 T o Feb 15 1921 Guaranty Trust Co, N Y
H anover N at B k, N Y
J & D D ec 1 1927
Farmers Loan A Tr, N Y
J A J Jan 1 1931
Farmers L A T r Co, N Y
M A N May 1 1919
do
do
A A O Oct 1 1919
\1 A S M ar'16-M ch ’ 22 Bankers T r C o, N Y
Bankers Trust C o . N Y
M & N T o N ov 1923
do
do
J A J 15 July '1 6 -J u ly'24
Now York
J A D T o June 1926

1916____
3 )4 g A
5
6
5
5
5
5

Last

W h en
P a y a b le

A

M A
M A
F «fc
J A
F A
J A
A A
J A

O (Jot 1 1942

Treas. office, P ittsb, Pa

S
N
A
D
A
J
O

Empire Tr Co, N Y
Go.slicn. N Y
Union T r C o , Pittsburgh
London and M ontreal
Clearlleld(Pa) Trust Co
U S Mtge A Tr Co. N V
S P Co. 165 B’ way, N Y
do
do

Sept
May
Fob
Juno

Fcd

Jan
Apr
J July

1 1939
1 1926
1 1963
1 1964
1 1958
1 1943
1 1918
1 1920

D IR E C T O R S .— B enj. F . Bush (Chairman A P rest.), E . C . Simmons
and F . J . W ade o f St. Louis; C . A . P ratt, Little R ock, Ark.; N icholas F .
B rady, N ew com b Carlton. A . J. Hemphill, Edgar L . M arston, Edwin G .
M errill, Finley J. Shepard. Cornelius Vanderbilt, A . II. Wlggin and W . H .
Williams o f N ew Y o rk .— (V . 101, p . 1014. 1273; V . 102. p . 68, 2167.)
MOBILE & BIRMINGHAM R R. — (See M a p S o u t h e r n R y . ) — Mobile to
Marlon Junction, A la ., with branches. 150 miles. Leased to Southern R y .
from March 1 1899 for 99 years, the latter agreeing to meet the Interest on
bonds and to guarantee a dividend on the *900,000 pref. stock of 1% for
first year, 2% for second year, 3 % for third year and 4% for fourth year
and thereafter. Of the *900,000 com m on stock. *880,400 Is owned by
Southern R y .. and voting power on pref. assigned to Southern R y. during
ease. V , 68. p. 429, 1134; V . 69. p. 391; V . 71. p. 1013.— (V . 72, p. 137-)
MOBILE JACKSON & KANSAS C IT Y.— See New Orl. M ob. f t Chicago
MOBILE & OHIO RR.— ( S e e M a p S o u t h e r n R y .)— Owns from Mobile*
A la., to Colum bus, K y ., 472 m .; Cairo to East St. Louis, 151.6 m .. with
branch to M illstadt, 7.23 m .; proprietary Hue, Kentucky A Tenuessoe R R .
N et Inc. (after ta x es).$14,156,814 $15,215,452 $17,512,755 $13,130,432
In te re st.................
13,302.177 13,046,498 14,408,125 12,436,314
to East Cairo, 19 m .; branches to Columbus, Miss., &o., 42 m .; Columbus,
Miss., to M ontgom ery, A la., 167 m .; Mobile & Bay Shore Branch. 38 m .;
Rentals & miscellaneous 2,095.183
2.094,262
1,541,896
1,673,210
with W arrior Branch, 9 in.; W arrior South. R y . (all stock and bonds
B a la n co ......................d f $ l,240,546 sr.$74,69 2 sr$l,56 2 .7 3 3d f$ l,9 7 9,09 2
owned). Tidewater, A la., to Kcllerman, 14 m .; Blocton Branch. 13 m .; total
owned, 920 m .; trackago, 189 m .; total June 30 1915,1,122 miles. M is­
T h o comparisons with 1912-13 and 1911-12 aro somewhat inaccurato.
Pres., Benjamin F. Bush; Sec. & Treas., II. L. Utter.
sissippi anti-trust suit, V. 95, p. i403.
S T O C K .— Stock authorized, *10,000.000: outstanding, *6,016,800; par
Directors.— Benjamin F. Bush (Chairman A Pres. , Edward A . Faust and
$100. The voting power on 54,984.200 of the stock Is exercised by the gen­
W . II. Lee, St. Louis; N icholas F. B rady, N ew com b C arlton, A . J. H em p­
hill, Edgar L . M arston, Edwin G . M errill, Finley J . Shepard, Cornelius eral m ortgage bondholders by virtue of deposit of old debentures of 1879
Vanderbilt and W . II. W illiams, o f N ew Y ork; R . Lancaster Williams o f
D IV S . (Since 1909-10) ( 1910-11. 1911-12. 1912-13. 1913-14. 1914-15.
Baltim ore, and C . M in ot Weld o f Boston. N . Y . office, 165 B 'w a y .—
Juno 30 years____________ 1
4
4
4
4
4
In 1915 the Southern R y. had acquired *8,261,000 of the $9,472,000
(V . 102, p. 67, 154, 522, 609, 886, 976, 1346, 1811, 1896, 2077.)
general Is and $5,670,200 of the $6,017,000 stock, Issuing, $ for *. Its col­
(2) MISSOURI PACIFIC SYSTEM— ST. LOUIS IRON MOUNTAIN &
SOUTHERN RY. — (S e e M a p . ) — Owns St. Louis to Texarkana. A rk .,
lateral trust 4% gold bonds In exchange for the M. A O. general 4s, secured
b y a pledge o f the latter and had also issued stock trust certificates for stock,
490 miles; St. Louis to Thebes, Paragould to Clayton J et., L a., L ittle
R o ck to Lake Charles, L a ., Little R ock to Oklahom a-Kansas State Line.
ifvidends being payable (A . & O .) at 4 % in perpetuity thereafter.
Gordon, A rk ., to Vldalla, L a ., and Diaz to Carthage. M o.; total main line
B O N D S .— G e n e r a l m o r t g a g e o f 1888 a bstract, V .4 7 .P - 8 3 . V. 60. p .9 6 7 .
m ileage, 2,150.93 m .; branches in Missouri, Illinois, Arkansas, Louisiana.
T he St. Louis D iv . 5 % gold bonds (limited to $3,000,000), dated A ug. 1
I , 035.51 m .; total owned mileage July l 1915, 3,186.44 m .; trackage and 1913, are secured b y a mortgage on the former St. Louis & Cairo R R .. sub­
uuder lease, 178.68 m .; total operated mileage July 1 1915, 3,365.12 miles.
ject to S t. Louis & C airo 1st M . 4s, due Jan. 1931, tho latter o f which have
T h o stockholders voted Sept. 8 1914 (a) to acquire trackage rights over
been assumed. V . 96. p. 554, 1022. 1365, 1773, 1840, and V . 70, p. 532.
the Texas A Pacific Ity. from Alexandria, L a ., to M ile Post 9, or from
T he stockholders have authorized tho creation o f a now mortgage to se­
Ferriday via Addis to M ile Post 9, with the right to purchase tho T . A P. cure not exceeding $50,000,000 bonds, whonover tho board or directors
line between Ferriday, L a ., and A ddis, 110 miles; (6) to guarantee not ex­ m ay deem it advisable to creato such m ortgage. N o such m ortgage has
ceeding $7,500,000 Trans-Mississippi Terminal bonds join tly with tho
yet been created. V. 102, p. 251: V. 100, p. 253.
Texas & P a c. R y .. each co . owning half o f the stock. V . 99, p. 50, 817.
First terminal ratge and collateral trust 5s o f 1911, see V . 92, p. 1 19.
On April 1 1916, through froight servico into N ow Orleans was begun
Equipm ent bonds sorios " J , " V. 102, p. 1718. Thoro is no sorias " I . ”
under trackago agreement for uso o f Toxas & Pacific lino, as aforesaid, 183
E A R N IN G S .— 10 m o s .,(1915-16___ Gross, $9,762,494; not, $2,298,614
miles. V . 102, p . 1347.
July 1 to A pr. 30.
\1914-15___ Gross, 9,132,151; not, $2,116,992
Owns *23,703,250 of the *24.984,756 Texas A Paelflo seconds exchanged
R E P O R T — Report for 1914-15 in V . 101, p. 1548 (opor. inedpendently)
for 65% in gold 4s. See “ B onds” below. Suit on T . A P. notes, V. 102. p.
Y e a r s e n d i n g J u n e 30—
1914-15.
191R-14.
1912-13.
2167.
T otal operating r e v e n u e ..................... $10,982,149 $13,002,583 $12,377,650.
R e c e i v e r s h i p — R e o r g a n i z a t i o n P l a n . — See Missouri Pacific R y . abov o.
N et over taxes_______________________ 2,660,762
2,463,919
2,931,751
Foreclosure suit under First A U ef.M tge.was filed Oct.8 1915. V .101,p.l273.
N et, including other incom e_________ 2,727.708
2.571,863
3.206,370
In Juno 1916 tho only Iron M t. coupons in default were those duo July 1 Interest, rentals, A c _________________ 2,399,040
2.486,752
2,564,500
1915 and subsequently on tho $29,423,000 First A R ef. M . 6s o f 1912 and
Dividends p a id ........................................ (4)240,672
(4)240,680 (4)240,824
thoso duo April 1916 on Little R ock Junction 6s.
Additions and betterm ents__________
3,238
23,738
19,803
Gordon Dexter and Edwin F. Atkins represent ob jectin g Little R ock
June. R y . bonds; depositary, A m . T r. C o .. Boston. V. 101, p. 1014.
Balance, surplus or d eficit________ sur.$84.75Sdef.$179,309sur.$381,243
S T O C K .— Stock authorized, $190,000,000; outstanding, $44,391,299, of
Comparison with 1912-13 figuras aro somewhat inaccurato.
which $44,319,600 June 30 1915 owned b y Missouri P acific. See below.
Pros., Fairfax Harrison.— (V . 101, p. 48, 1548; V. 102, p. 2 5 1 , 1718.)
D IV ID E N D S .— 1902 to 1904.10% yearly; 1 90 5 ,7 % ; year 1905-06, 14%
"A lO N O N .” — See Chicago Indianapolis & Louisville R y .
1906-07, 10% : 1907-08, 5 % ; 1908-09. 4 % ; 1909-10. 6 % ; 1910-11, none
M O N O N G A IIF L A R A IL W A Y .—-Brownsville Junction, Pa. (connection
1 9 1 1 -1 2 .4 % ; 1 9 1 3 ,4 % : 1 9 1 4 ,4 % : 1915, Jan ., nono.
with l’ enn. R R . and Pitts. A Lake Erio R R .) to Fairm ont, W . V a., 69 miles,
B O N D S .— General consolidated m ortgage Is for *45,000,000. N os.
I I , 001 to 18,000 Inclusive are endorsed with the Missouri Pacino guaranty o f with branches aggregating 39 miles. In N ov. 1915 operations extended
principal and Interest: form of guaranty was In V . 56, p. 650; they are a from P enn .-W . Va. State lino to Fairm ont, W . V a.. 33 miles. A consolida­
tion July 1 1915 o f M onongahela R R . and Buchannon & N . Soo particulars
first lien on 1,538 miles. V . 68, p. 85, 233. 520: V. 78. p. 704. 1224.
The gold 4s of 1899 (first Issue *30.000,000) m ay be Increased not over P itts. & L . E . report. V. 102, p. 1535. Stock auth., $10,000,000; par $50.
*10,000,000, at $12,000 per mile, for construction or acquisition and equip­ Outstanding Juno 5 1916, $5,000,000. o f which Pitts. A L. E. (N . Y . Central
System) owned $2,500,000 and tho Penn. Systom , it Is supposed, the re­
ment of branches and extensions. They are secured by a lien (subject only
to the general consols) on all the railroads, terminals and equipment of the mainder, the Penn. R R . C o. itself owning $1,676,500 on Jan. 1 1916.
Bonds auth.. $15,000,000; none issued to Juno 7 1916. Pitts. A L. E. and
com pany owned at the time of the making thereof and also a first and only
Hen on all stocks and bonds form erly embraced In the trust of the gold fund­ P ittsb. Virginia A Charleston (Penn. System linos) guarantoo tho 3 )4 %
ing note Indenture, all leased and branch lines, or their bonds and stocks bonds o f tho old M onongahela R R .
E A R N IN G S .— For 10 m os. ended April 30 1916, showod: Gross, $1,­
acquired by the loan, and $23,703,000 Texas & Pacific seconds, future exten­
553,579; net, $798,657. Results for cal. yoar 1915: Gross earnings on 108
sions, A c. V . 68. p. 619; V . 70. p. 997; V . 74. p . 206; V . 78, p. 704, 1224
miles o f road, $1,475,342; net, after taxes, $737,742; total not, Including
The original *20,000,000 River A Gulf Divisions 4s of 1903 were secured
“ other incom e,” $747,168; int. on bonds, rentals, A c ., $424,935; divs
b y a first lien on 678 miles of road built or under construction (see above)
( 4 % ), $200,000; b a l., sur., for year, $122,233.— V . 102, p. 1546.
and on terminal property at St. Louis, East S t. Louis. Cairo and Thebes
an d 8.000 acres of coal lands In Illinois, and deposit of the bonds of tne
MONTANA W YOMING & SOUTHERN R R .— Owns from Brldger, M ont.;
Union R y . of Memphis. Additional bonds m ay be Issued up to a total of on Northern Pacific, to Belfry, and westerly to Bear Creek, about 33 miles,
*50.000,000. at not over *30,000 per mile of main line, for new construc­ serving a coal district. Stock outstanding, $1,000,000. Additional bonds at
tion and *15.000 per mile of second track and branches, but not exceeding $25,000 per m ile, V . 89, p. 470. Equip, bonds Juno 30 1915, $30,000;
the actual cost, and for additional terminals, equipm ent, double tracks. Ao
equip, trust notes. $20,970. Year 1914-15, gross, $171,700; net, $66,844;
V . 76, p. 543, 600. 1085; V . 77, p. 1875: application to list, V . 77. p ' in t., taxes, A c ., $47,381; bal., sur., $18,050, Pros., Frank S. G annon.—
2036, 2049; see also V. 85. p. 222; V . 86. p. 230: V . 87. p. 167: V . 89. p. 105­ (V . 89. p. 1281: V. 101, p. 1189.)
V . 90. p. 850: V . 91, p. 39. Pine Bluir & W est. 5s. see V . 78. p. 103. 769
AtONTGOMERY & ERIE R Y .— ( S e e M a p E r i e R R .)— Owns M ontgomery
E A R N IN G S .— 10 m os., (1 91 5 -1 6.. -G ross, $27,128,643; not, $6,995,607
to Goshen. N . Y . , 10 miles. Leased In 1872 to Erie R R . Rental now
f i July 1 to April 30.
\1914-15-- -G ross, 25,357,035: net, 6,628,611
$16,000 per an. Stock. $150,000. D ivs. (4 )4 % per an.) paid M a y 10 and
R E P O R T .— For 1915, in V . 101, p. 1183:
N ov. 10. S. fd .. $6,500 per an. Thero are $40,500 2d M . 5s due O ct. 1 1927.
Y e a r s e n d i n g J u n e 30—
1914-15.
1913-14.
1912-13.
M iles operated end o f year__________
3,365
3,365
3,337
M O N T O U R R R .— Owns M on tou r Jet. to tho M ifflin Yards o f Bossomor
Gross earnings........................................... $29,883,629 $33,289,717 $34,136,598 A Lako Erio R R .. 56 miles (incl. 30-m . extension opened D ec. 1914), with
which a contract for traffic exchange and a division o f rates has beon m ade.
N ot earnings............................................. 9.023.123
11,794,853 11,468.986
Other receipts...............
902,562
865,288
462,351
In Jan. 1914 m ade a 25-year trackage agreement over T hom pson’s Run
T otal not incom e....................................
9,925,685
12,660.141 11,931,338 branch o f W abash-Pittsburgh Terminal R y . V . 98, p. 236. Stock
Interest on bonds....................................
6,819,367
6,813,405
6,537,509
$1,500,000, owned b y Pittsburgh Coal C o . o f Pennsylvania. V . 96.
Taxes, bridge expenses, rents. A c ___ 3,028.547
3,016,947 2,425,143
p. 286. 861. Bonds, originally $2,750,000 1st 50-yr. 5s, redeemable at 105
Dividends ( 4 % ) ............................................................
1,775.649
1.775,649 as a whole on and after Feb. 1 1924, or at 102)4 for a sinking fund o f $55,000
yearly. Equip, trust gold 5s dated A pr. 1 1913, $961,000, due A pr. 1 1938
Balanced surplus, for y e a r ................
$77,771 $1,054,140 $1,193,037 and $917,361 A pr. 1 1923. Year ending Juno 30 1914 (18 m iles), gross,
T h e comparisons o f figures for 1912-13 aro somowhat inaccurato.
$301,411: op . d cf., $307,523: other incom o, $523,584; total deductions.

m oro than a m ajority o f tho issuo o f $24,773,000 agreed to oxtond thoir
notes till D ec. 1 1916 (with privilege prior to N o v . 1 1916 o f further exten­
sion to Juno 1 1917). but subject to call on tho first o f any m onth at par and
int. Assenting holders received the Juno interest, 3 % , and a com m ission
o f )4 o f 1 % . Sco full particulars V. 102, p . 1896, 2077. T ho trustee has
filed suit for purchaso o f tho note indenture.
E A R N IN G S .— 10 m os., (1 9 1 5 -1 6--G ross, $53,353,549, not, $11,844,038
July 1 to April 30.
\1914-15. .G ross, 49,119.873: not, 11,183,897
St. Louis Iron M ountain A Southern earnings included.
A N N U A L R E P O R T .— Fiscal year ends Juno 30. R eport for year endlng June 30 1915 in V. 101, p. 1183. 1089. Annual meeting is held in
St. Louis in M arch. Earnings for Missouri Pacific S y s t e m :
1914-15.
1913-14.
1912-13.
1911-12.
M iles operated, average
7,285
7,285
7,257
7,321
T otal earnings................ $58,209,306 $59,985,731 $62,155,506 $54,503,250
N et earnings_____ ______$15,649,636 $16,598,164 $17,456,509 $13,222,658




Jun

e

1910. |

RAILW AY STOCKS AND BONDS

x




RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , A c . , s e e n o te s o n f i r s t p a g e ]

M organtown & K in g w ood — 1st M closed Issue_______
1st m ortgage $1.500,000___________________________ x
Morris & E ssex— Stock 7 % guaranteed D T. A IV . .
1st M 7 % cons held by D L & VV pending doliv o f 3 )4 s
1st R e f M g $35,000,000 gu p ft i ___________ F.xc*ftr
Morris & Essex extension stock guaranteed 4 % ____
M orristown & Erie— First M $300,000 g s f red p a r_.
Mt Carbon & Port C R R — Stock (rental guar) t e x t___
Mount Hood R R — 1st M $500.000_______ ,
.. .

M ile s
R oad
m.

1902
1905

1875
119 1900
2
13 1903
’ 07-'11

M unising— First mortgage gold _____ _______________ x
38
Muscatine North & South— 1st M $1,000,000 a u th -Syndic notes call 101 bet Oct 1 1913, thereafter par
Muskegon Grand R aoids A Indiana— First M g -.C e x
37
M u skogee C ity B rid ge C o— Seep lan under St L & SF
Mutual Terminal— 1st M gold s f red 1 0 2 )4 --G x .c*
Nashua & Lowell— Stock 9 % rental 99 years B ft M . .
14)4
N ashville C h a tt & S t L o u is — Stock $16,000,000auth
First M on Fayette and McM brs ($6,000 p m )zc*ftr
125
First m ortgage on Lebanon B ranch____________ zc*
29
First mortgage on Jasper B ranch..... ...............-Cez.o*
23
First mortgage on Centrevllle Branch g ___C c.z c’ ftr
46
1st M T racy Cy. Br 1917______________________ zo*ftr
20
Cons mtge ($20,000,000) $20,000 p m g o ld -. Us.zc*
840
Nashville & D eca tu r — Stock guar 7 H % by L & N __
119
Nashville Florence & Sheffield— See Louisville ft Nash vllle
Nashville Term inal— First M gold Int rent red 105--X
N ew rntgo $3,000,000 auth (V 98. p 1668)............N
National R vs of M exico— Com stock $75,000,000 U S e
First pref stock $30,000,000 4 % n-c (p & d ) ______
2d pref stock $125,000,000 5 % n-c (p & d ) ................
Prior lien M U S g red 105beg'17 iseetext) C e.xc*ftr*
Gen mtge U S gold redeem par (text) g u a r.-N .x o*
Nat R R of Mex prior lien m tge g call 1 0 5 -- Un.xo* 1,284
First oons M $60,000,000 gold (see t e x t )___Ce.xc* 1,534
Mexloan Central— Priority bonds gold red 1 1 0 ___z
First cons Inc & scrip n-cum ($9,600 p m) g AB.zo* 3,407
2d co ns lno($6.400 p m )red 50% to July '29 AB.zo* 3,407
Equipm ent 5s $50,000 redeemable yrly at p a r ..x
do (550,000 vrly narf red 102 14 beg ’ 10 .OB.xc*

D a le
B onds

___

1900
1910
1911
1886
1904
1877
1877
1883
1883
1887
1888

Par
V a lu e

$500
500 Ac
50
1,000
1,000
100
1,000
50

$40,500
1,500,000
15.000,000
9,191.000
25,305 500
221,000
260,000
282,350
500.000

1.000

160.000
See text
425,000
750,000

1,000
1,000
1.000
100
100
1.000
1,000
1.000
1.000
1.000
1,000
25

1902
1909

1.000

1907
1907
1902
1902
1889
1889
1889

$, £ , Ac
$, £ Ac
$500 Ac
500 &o

1897
1899

1,0 0 0
1.0 0 0

1,0 0 0
1,0 0 0
1.0 0 0

*121,674; bal. , sur., $94,387. Year 1914-15 (50 m iles), gross. $356,609;
2per. d e f., $243,298. Ten m onths ended April 30 1916, showed: Gross,
*608,076, against $242,037; not loss, $3,234, against net loss, $226,413.—
( V . 98, p . 236.)
M ORG AN ’ S LOUISIANA & TE XA S R R . ft STEAMSHIP CO.— S e e M a p
o1 S o u t h e r n P a c i f i c .)— H O A D .— Owns Algiers to Cheuevvllle, 205 mlleo;
branches. 119 m .; extensions to Port Allen. 1 a . , A c ., 53 in.; trackage to
Alexandria, A c ., 29 in.; total, 404 m .; ferries, 3 miles. Sou. Pan. C o. owns
the $15,000,000 stock. D iv . 1906-07, 1 0 % ; 1907-08. 2 5 % : 1908-09 , 4 % ;
1909-10. 5 % : 1 9 1 0 -1 1 ,6 % ; 1911-12, 4 % .
E A R N IN G S .— 10 m os., (1915-16............Gross, $3,815,934; net, $775,716
July 1 to April 30.
\1914-15..........-G ross, 3,759,698; net, 704,468
In yoar ending June 30 1915, gross, $4,376,736; not. including other
ncom o, $977,145; surplus after charges, $122,803.— (V . 76, p . 548.)
MORGANTOWN & KINGW OOD R R .— Owns Morgantown to M. & K .
Jet., W . V a.. 47.94 miles: R ock Forge to R ichard. 0.77 m .: total, 48.71 m.
Incorporated Jan. 14 1899 In \V. Va. Stock auth., $2,000,000; par, $100.
B onds, see table a bove. Equipm ent trust obligations outstanding June 30
1915, $27,000; bills and loans payable, $250,000. For yoar ending Juno 30
1915. gross, $325,862; not, $32,002; other incom o, $1,373; in i., rentals,
& c .,$ 5 0 ,5 8 6 ;b a l.‘Kief.,$17,211. In 1914-15, gross,$325,463;n o t ,$43,657.
Pres., Davis Elkins, M organtow n, W . V a.; S ec., Richard Elkins. N . Y .
O ffice, M organtow n, W . Va.
AlORRIS & ESSEX R R .— ( S e e M a p o f D e l a w a r e L a c k a w a n n a <k W e s t e r n )
— Owns fr o m H oboken, N . J ., with Important terminal facilities on N . Y
H arbor, to Phlllipsburg, N . J ., 85 miles; Dranch, Denvllle to H oboken, N . J.
34 miles: leases, 38 miles; total oper., 157 miles.
Leased D ec. 10 1868 In perpetuity to D el. Lack. & W est., which guaran­
tees 7 % per ann. on stock and 1% extra in case 3 0% o f gross earnings is
sufficient to pay all fixed charges and 10% on stock.
In A pr. 1915 a stockholders’ com m ittee (G eo. C . Van T uyl J r., Chair­
m an, James F . M cN am ara, Sec.; M etropolitan Trust C o ., N . Y ., depos­
itary) brought suit against the D el. Lack. & Western R R . for an accounting
and paym ent o f 1 % extra In divs. for tho years 1905 to 1914 and thereafter.
V . 100, p . 1510, 1672, 1752, 1833, 2010; V . 101, p . 527, 1189. D . L . & W .
in M a y 1916 brought a counter suit. V . 102, p . 1896.
T ho $9,191,000 7s duo Juno 1 1915 purchased b y tho D . L. & W .
and aro held in tho D . L. & W . treasury pending delivery to it o f 3 )4 s under
tho leaso. V. 102, p . 795, 609. Pres., John O. II. Pitney, o f M orristown,
N . J. N ew directors, July 1915, V . 101, p . 48.— (V . 101, p. 1189, 1553;
V . 102, p . 609. 800, 1896.)
M O R R IS T O W N & E RIE R R .— Owns M orristow n, N . J ., to Essex
Fells, N . J ., 10.64 miles; 2 branches, 2.32 m ., total 12.96 m . Stock.
$400,000; par, $100. Bonds, see table. Year 1914-15.gross, $106,489; not,
$34,885; other Inc., $291; in t., taxes, & c., S18.668; bal., sur., $16,507,
P res., R . W . M cE w an , W hippany, N . J.— (V . 96. p. 1629.)
MOUNT CARBON & PORT CARBON R R .— Owns Mt. Carbon to Port
C arbon, l ’ a ., 2.45 m .; 2d track, 2.39 m . Leased to Phila. & Reading R y .
Sept. 30 1909, for 999 yoars from M a r. 5 1910 at 5 % on stock, taxes, & c.
(V . 89, p. 42.)
’
M O U N T HOO D R R .— H ood R iver to D ee, O re., 16.4 miles. Stock,
$250,000; par, $100. Bonds, see table. Year 1914-15, gross, $79,095; not,
$33,764: in t., taxes. & c., $52,214; bal., d of., $17,450. Pros., W . H .
E ccles, Dee, Ore.; Sec. & T roas., H . II. Itolapp, Ogden. Utah.
M O UN T R O Y A L T U N N E L & T E R M IN A L C O .— A constituent com ­
pany o f the Canadian N orthern R y . systom . Formed to build a tunnol
through M ou n t R oyal and to construct tho terminals at M ontreal. C on­
struction is said to bo approaching com pletion. Tho com pany has mado a
present auth. issue o f $11,680,000 1st M . 5% bonds, duo April 15 1970, o f
which $9,012,565 has been certified, including $3,844,667 pledged to secure
a £599,800 short-term loan o f the Canadian Northern. A bill passed In tho
H ouse o f Comm ons in Canada in M a y 1916 provides that, as intended b y
tho original A ct o f 1914, rentals paid tho com pany by tho Canadian N orth­
ern R y ., the Canadian N orthern Ontario R y . and the Canadian Northern
Quebec R y . shall be included in their operating expenses and thus rank
ahead o f their other fixed charges. V . 102, p . 1987.— V . 98, p . 304.
MUSCATINE NORTH & SOUTH R Y — Muscatine, la ., to Burlington,
55 miles.
This Includes 4.6 miles trackage, the com pany owning a
parallel right o f way on 4 miles. V. 80. 0 . 1059. On N ov . 27 1914
M aurice D aly was appointed receiver o f tho R a i l w a y .
V . 99, p. 969, 1749.
Stock, $450,000; par, $100. V. 93, p. 589, 796, 1534; V. 100, p . 398.
Foreclosure suit pending under first m ortgago. V. 99, p . 1749. For year
end. Juno 30 1915, gross, $134,556; net inc., $15,0-12.— (V . 100, p . 398.)
MUSKEGON GRAND RAD IOS & INDIANA R R — Owns road. Grand
Rapids to Muskegon, M ich.. 37 m .; trackage, G. R. & Ind. at Grand Rapids,
3 miles. Operated by G. R . & Ind. H R ., which was foreclosed In 1896
consideration, net earnings. Stock auth., $350,000: par, $100: Issued,
$20,000. Year 1915, grass, $244,337; not Inc., $81,589; in t., taxes, & c.,
$52,061; b al., sur., $34,529 (V . 90, p . 560).
M UTUAL IERM 1NAL CO. OE B U F F A L O — Owns 5.22 acres of land
with 1,486 feet of frontage on the city ship canal wharves, freight hous<
and a steel and brick grain elevator, capacity 3,000,000 bushels. Stock,
$60,000, all owned b y tho N . Y . O. & H . R . R R ., D . L . & W ., Lehigh Valley
and Erie, which each, under agreement o f Jan. 2 1905 as amended, guaran­
tee to pay one-fourth tho int. and sinking fund charges on tho bonds (tho
latter $200,000 yearly). O f tho bonds ($5,000,000 total a u th .), $444,000
aro reserved for future uses; $2,032,000 in Jan. 1916 retired b y sinking fund.
V . 89, p. 779.
Calendar year 1914, gross, $1,484,900; net Income (incl. $16,802 "o th e r "),
$308,876; Int.. $150,251; bal., sur., $158,625. Pres., Charles M . H eald,
B uffalo; V.-Pres., C . S. Goldsborough, 50 Church' S t., N . Y .; T roas., F. II.
Silvernail, 143 Liberty S t.. N . Y .— (V . 89. p. 779.)
NASHUA & LOW ELL R R .— Owns double-track road from Lowell. Mass.,
to Nashua, N. II., 14)4 miles. On Oct. 1 1880 leased for 99 years to Boston
& Lowell. In 1887 lease was transferred to Boston & Maine, which pays
a rental o f $73,000 (9 % on stock) and $1,000 for annual oxpensos, and in
A pril 1911 recoived authority to purchase stock; in N ov. 1906 to 1912 incl.
1 4 % extra was paid from accum . cash surplus.— (V .83,p.970; V .85,p . 1005.)




A m ount
O u ts ta n d in g

R a le
%

5
5
7
7
3

4
5 g
5
6
5
4 2
5
6
5 2

W h en
P a y a b le

1,000.000

5 2

L a st D iv id e n d
a n d M a tu rity

J
& ,T Jan 1 1922
J
& J Jan 1 1935
,r & J July 1’ 16, 3 54%
J & D M atured
J
& I) Dec 1 2000
M ft N M a y 1 '16. 2%
M ft S Sept 1 1923
J & J Jan 15’ 16. 2)4 %
J
ft J Jan 1 1927
A pr 15 1970
A & O Oct 1 1925
Jan 1 1935
A A O Oct 1 1914
J
ft J July 1 1926

2,524,000
J
4 g
800,000 See text M
16,000,000 5 In 1915 F
750,000
6
J
300,000
J
6
371,000
J
6 2
376,000
J
6 2
100.000
6
J
9,108,000
A
5 g
3,553,750
J
7 )4

74.803,466
28.831.0(H)
120.378.391
84,821,115
50.748,575
23,000,000
24,740,000
1,374,000
171,600
21,000
662.456
150,000
300,000

[Vol . 102.

J

&
&
A
A
A
A
A
A
A
A

J
N
A
J
J
J
J
J
()
J

July 1 1924
M a y 1 '1 6 .4 )4 %
Feb 2 ’ 16. 3%
Jan 1 1917
Jan 1 1917
Jan 1 1923
Jan 1 1923
Jan 1917
Apr 1 1928
July 1 9 1 6 ,3 )4 %

A

J July 1 1932
May 1 1949
Feb 10 '13, 2%

414
4
4 >4
4
5
3
3

g
g
g
g
g
2

5 g
5 g

J July
A
A O Oct
J
A J Oct
A A O Oct
J
A J July
July 10 Jan
Jan
J
A

A
A

A
A

1 1957
1 1977
1 1926
1 1951
1 1939
10 1939
10 1939

O A pr 1 1917
O Oct 1 1919

P la ces W h e r e I n te r e s t a n d
D iv id e n d s a r e P a y a b le

Bk of Mon Val, M org.W V
Davis Tr Co, Elklus, W V
Del Lack A W estern. N >
Del L ack & W est, N Y
do
do
Brooklyn Trust Co, N Y
Reading Term inal, Phila
Ogden (Utah) Sav Bank
American Trust C o, Cleve
Oct 1 '14 coup In dofault
W inslow, Lanier A Co
U S Mtg A Tr Co, N Y
Check from C o ’s office
New York and Nashville
H anover Nat Bank, N Y
do
do
do
do
do
do
do
do
do
do
Nashville
Mercantile Tr Co.StLouis
Office, 25 Broad St, N Y
See text
See text
See text
Seo text
Seo text
None paid
(lo
Old Col Tr Co, Bos A Lon
Seo text

N A S H V I L LE C H A T TA N O O CI A & ST , L O U IS R Y . — Owns from C hat­
tanooga. T en n ., to Hickm an, K y ., 322 m .; branches to Lebanon, & c., 517
m .; leasos Western & A tlantic, Chattanooga, T enn ., to Atlanta, G a ., 137
m ., and M em phis & Paducah Division o f the L. A N ., 254 miles. See V. 71,
p. 544, 664, 864. T otal operated July 1 1915, 1,231 miles.
O R G A N IZ A T IO N .— A m ajority ($11,484.100) of the stock was owned by
the L ou. ft Nash., of which $8,802,400 pledged under Its mtges. W est.
A Atl. Is leased from State of Georgia till Dec. 27 1919 at $420,012 yearly.
T he Paducah ft M em phis DIv. o f the Louisville ft N ashv. R R . C o . Is
ieasod for 99 years from D ec. 14 1895; the annual rental Is 6 % on tho cost
o f road and 5% on amounts paid by L. & N . R R . for additions, e tc.
Will own join tly with the C hic. Burl. & Quincy tho Paducah ft Illinois
R R ., which is building a double-track bridge over the Ohio River at M etrop o­
lis. III., and constructed a line from M etropolis to P aducah, K y ., 12 miles,
and will join tly guarantee tho bonds ($7,000,000). V . 101, p . 1465; V . 99.
p . 843, 270, 1289.
S T O C K .— V . 96. p. 554: V . 97, p. 176, 1281.
D I V I D E N D S — Since 1894:
’95-’98. ’99-’03. ’04. ’05-’06. ’07. ’08. ’09. ’ 10-’ l l . ’ 12. ’ 13-’ 14. ’ 15. ’ 10.
4 y ’ly
N one 4
5 y ’ly 6 5)4
5
6 y ’ly 6)4 7 y ’ly
5
3 ,B ON DS.— Consol, mtge. of 1888 provides that all prior bonds shall bo
p aldoll at m aturity: sufficient of the $20,000 p .m . are reserved for them.
In A ug. 1915 $1,500,000 consols, were issued, m aking total out, $9,108,000.
V. 101, p. 131, 694. 1465.
Jointly, with Lou. & N ash., guarantees $2,535,000 L . ft N . T er. 4s, and
with tho L. ft N ., Southern R y ., St. Louis I . M . ft So. and St. Louis South­
western $2,500,000 M em phis Union Station 5s.
E A R N IN G S .— 10 m o s .,/ 1 9 1 5 -1 6 ...G ross, $10,560,236; not, $2,681,413
9,213,583; not, 1,493,451
July 1 to April 30.
\1914-15___Gross,
A N N U A L R E P O R T .— R eport for 1914-15, seo V. 101. p . 1458.
Y e a r s e n d . J u n e 30—
1914-15.
1913-14.
1912-13.
1911-12.
Gross earnings..... $10,936,533
$12,884,359 $13,317,161 $12,262,675
N et earnings....................
1,836,911
2.688,836
2,878,378
2,883,804
Investm ents, & c...
42,882
48,506
76,124
71,959
H ire o f eq uip., rents, & c.
488,081
562,423
445,912
301,262
N et Incom e........ $2,367,874
$3,299,765 $3,400,414 $3,257,025
Int. on d ebt and ta x e s ..
$831,764
$823,617 $1,223,709 $1,234,327
R e n t a l s . ! . ...........
711,487
626,518
626,518
626.518
D ividend on stock ( 5 % )7 9 9 ,226 (7)1,118,930 (7)698,932(6)4)649,002
_

88

Balance, surplus..........
$25,397
$730,700
$851,255
$747,178
Chairm an, E . C . Lewis; Pres.. John IIowo Peyton; V .-P ., II. F . Smith;
T reas., J. II. Am broso; S ec., T . A . C larkson.— (V . 102, p . 251.)
NASHVILLE & DECATUR RR.— ( S e e M a p L o u i s v i l l e & N a s h v i l l e . ) —
Owns from Nashville, T enn., to Decatur, A la., 119 miles. Rc-leased to
Lou. ft Nash. In 1900 for 999 years, the rental being 7 )4 % on stock. Tho
Lou. ft Nash. July 1 1915 owned $1,958,850 of the stock.— (V . 70, p. 1195.
NASHVIL LE T E RM IN A L CO.— Owns bridge across the Cumberland
River and 2 0 .l7 m. of track. Leased for 99 years from May 1 1902 to Tenn.
Cent. R R ., which owns entire $1,000,000 stock. O f tho bonds, $1,000,000
had been Issued and pledged as collateral July 1915.— (V. 89, p. 1668.)
N A T IO N A L R A IL W A Y S O F M E X IC O .— On Juno 30 1914 com prised
tho follow ing lines, but during tho revolution o f tho succeeding 2
yoars
some hundreds o f miles o f track and many bridges, onginos, cars, & c., woro
destroyed:
S ta n d a rd G a u g e— O w n ed .
M i l e s . Other lines____________________
138
Laredo to City of M exico______ 802
C o n tro lle d — S e c u r itie s O w n ed .
Mexico City to Juarez C ity____ 1,224 Texas M exican R y . (V .99,p.468) 162
Mexico to Rio Balsas__________ 182
L ea sed —
35
Chlcalote to T am p ico..... .......... . 406 M ex.U n.H y., Coahulla Coal R y.
Tam pico to Monterey and Gomez
P a la clo______________________ 548
Total standard gauge_______ 6,373
Pledras Negras to Sauceda____ 238
N a rro w G a u ge— O w n ed .
Matamoras to Durango________ 171 City of Mexico to A cam baro, & c . 173
Branch— Irapuato to A m eca___ 217 Peralvlllo to Berlstaln (102 in .). 214
L ea sed —
" Guadalajara to Manzanillo 221
57
San Juan Jet. to Jaral_________
50 Mlchoacan & Pacific R y ______
Monterey to M atam oras______ 206
Gonzales to A cam baro_________
53
Total Incl. In earnings______ 7,661
Jimenez to R osario____________
96
C o n tro lle d — E a r n in g s s e p a r a te
Other branches, .Sec____________1,300 Iuteroc. R y . and Mex. S o u ..-1 ,0 4 7
C ordoba to Santa Lucretla____ 202
San Geronlmo to Guatemala bor 285 Grand tot. (1.342in.3-ft. gauge) 8,027
O R G A N IZ A T IO N .— Organized March 28 1908 under special A ct of Con­
gress of M exico, per plan In V. 86, p. 918, 982. The properties of Nat. R R . •
i f M exico, Mex. Central and Mex. International were acquired b y deeds;
V. 88, p. 452: V . 89, p. 1601; V. 90, p. 1554. Application to list, describing
properties, new securities, & c., V. 88, p. 1318. Vera Cruz to Isthmus R R .
(340 miles) was merged N ov. 1 1913 and its bonds assumed and tho Pan­
American R R . in M arch 1914. V. 97, p. 1740, 1823; V. 98, p. 1000.
The Mexican Government owns $115,056,367 of the $230,000,000 auth­
orized stock, viz.; $10,000,000 first preferred, $30,278,300 second preferred
and $74,778,067 com m on stock, and guarantees the principal and Interest
of the general mtge. bonds. V. 87. p. 1533.
In June 1915 the operation o f tho com pany was still out o f th ocom p a n y’s
hands, and under tho direction o f factions engaged in strife. V. 100, p. 1078.
Owing to this, all interest and othor obligations maturing O ct. 1 1914 and
subsequently .Including the principal o f notes duo Juno 1 1915 ($27,476,000),
A c., and Int. were defaulted, and tho plan to fund tho July 1 to Sept. 30
1914 maturities has not been declared operative. V. 100, p . 2010.
D IV ID E N D S .— 1st pref., 1908, 1 % ; 1909, 2 % ; 1910 to Fob. 1912, 4 % ;
Feb. 1913, 2 % ; nono sinco.
B O N D S .— T he amounts o f now bonds and prof, shares which the N . Y .
Stock Exch. agreed to list as soon as Issued (V. 88, p. 1318) were as follows:

J une , 1916.)

89

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , A c . , se e n o tes o n fir s t p a ge]

M iles
R oad

N a tio n a l R ys o f M exico [ C o n c l u d e d )—
Alex Int prior Hen £1,200,001) red at p a r._ U n .x c &r
First eons M $10,000,000 ft not gu ar-_M p.xo*& r
do g guar stamp sub] to call at 95 to Men 1907.x
Vera Cruz & Pacific 1st M g red ( t e x t ) . . . ------ --x c *
Pan Amor (M ex-G uat) 1st M (text)red l0 5g u p&i xc*
Goneral mortgage guar prln & lnt---------------------- x
Nat Rys 2-year secured gold notes red par-------- Lex
3-yoar secured notes $2,460,341 rod p a r . . . . . — G
Secured gold notes extonded in 1914 and 1915-------T hroe-year secured notes $1,509,752 red par------ G
Secured gold notes $813,090 red p a r--------------------- G
Secured gold notes $3,099,046 red p a r . . . . . . . . — G
Nevada-Caiifornia-Oregon— First m tg $1,500,000 g .x
Nevada Central— 1st M gold non-cuin Inc (sk f d ) . Ccz
Nevada Copper licit R R — First M $1,000,000 g o l d ..z
N evada C o N G R R — 1st M due part yearly-------- . . .
M ortgage sk fd call 105 $500,000--------------------- US
New E ngland— Also New Haven & N ortham pton— Se e
New Jersey Indiana & Illinois— First M $250,000 gold
New London Northern— S t o c k ---------First m ortgage__________________________ 11a.xc &r
W est River Ilrst m ortgage guaranteed prln and lnt
New Mex Con— S Fe Cen 1st M $2,500,000 g . .P P i.x o*
New Mexico R y & C oal—See El Paso & Northeastern
New Orleans Great Northern— First M g . . . C o l , x c &r
Equip trust ser A (due s-a $25,000 to A ug 1917) - Nx
N ew Orl M ob & C h i c — Soo G u lf M ob ile & N or R R

D a te
D onds

615
866
866
263
285
285

94
20H

1897
1897
1897
1904
1903
1907
1913
1913
1913
1914
1914
1914
1899
1888
1909

1914
New York
12 1904
5.62 1886
25 1907
121
121 1910
36 1905
117 1901

‘2 0 f i

243
...

1905
—

Par
V a lu e

A m ount
O u ts ta n d in g

£100 ftc $5,850,000
$500 <ScO
705,500
a 6 ,501,000
1,000
7,000,000
2,003,000
1,000
1,000
1,484,000
$ £ ftc 26,730,000
45,& c
See text
746,000
2. &c
See text
See text

R a te
%

W h en
P a y a b le

4H g M
M
4 g
M
4 g
4M g J
J
5 g
J
5
J
6 g
J
6
6
.1
6
.1
6
J
M
5 g
J
5 g
J
6 g
J
7
A
5

s Sept 1 1947
S Sept 1 1977
s Sept 1 1977
J July 1 1934
&
J Jan 1 1934
&
.1 Jan 1 1937
ft D June 1 1915
& J Jan 1 1917
June 1 1015
& J Jan 1 1917
& J Jan 1 1917
J Jan 1 1917
N May 1 1919
&
<fe J July 2 1938
ft .1 June 1 1919
& J 1920 to 1924
& O April 1943

ft J
ft A
ft D
Q— J
J
ft J
J
ft D
ft D
J

1,000 ftc
1.000

F
F

N e w S e c u r i t i e s to b e O u ts ta n d in g u n d e r P la n ­

100 10 820 984
100 11,344,333

trust certificates).
C om m on stockk (voting
v. ------------------------- . ■„
Prof (p & d) (v t certfs) 6 % , non-cum for 3 y e a r s ...
N ew m ortgago $15,000,000-------------------------------------

5 g
5

J
F
J

&
&

July 1 1934
Feb 1 1986
June 1 1927
Apr 1 ’ 16 2 H
July 1 1940
1990
Deo 11941

P la c e s W h ei e In te r e s t a n d
D iv id e n d s a re P a y a b le

M ar 1915 cou p
do
do
Jan 1915 coup
See text
See text
D ec 1914 coup

&
&
&
&

1,000
1.277,000
1.000
750,000
500 &c
622,000
1,000
129,000
1,000
50,000
New Hav en & Hartf ord
1,000
250,000
5 g
1.00C
1.700,000
4
1,000
200,000
5
10C
1,500,000
9
1.000 & c
1,500,000
4 g
75,000
4
$1,000 $2,500,000
5 g
8,248,000
200,000

L a s t D iv id e n d
a n d M a tu rity

not paid
do
do
not paid
not p a id

D ec 1914 coup not paid
D ec 1914 coup not paid
C o ’s office, 68 W illiam St
1% paid M arch 1918
B oston. Mass
W ells, Fargo B k, San Fr
Union T r C o, San Fran

%

A Aug 11955
A T o A ug 1 1918

Mech Tr C o,B ayonne,N J
N Y Central R R .
Corp Tr Co, Jersey C ity
New London Office
Cp M&M B k .N Y ; reg m d
New London Office
Columbia Trust Co. N Y
N Y Trust Co, or Buffalo

5

a Out o f tho $7,206,500 M oxican International R R . 1 st con sol. M . 4s thoro was plodged $ 3 ,0 0 0 .0 0 0 under prior li en m tge. o f tho N ational
R ys. o f M exico o f Juno 22 1908, $4,499,000 incom e bo nds an d $15,7 85,200 ca pital stock p lodged un dor conso 1. m tge. o f N ati onal R y s. o f M ex ico o f
M arch 15 1902,

P rior Lien i t f % B on d s ($225,000,000 a u tb.. V . 86. p . 1319, 919.)
Issuable lu part exeh. for M ex.Cent.bonds. a b t . . . $93,494.902
Betterments, equip., retiring equip, obllg., &c . 1.1,00.>.000-$106.499,962
The remainder of the autli issue of $225,000,000 Is reserved as follows:
(1) $23 000,000 to retire $23,000,000 National R R . of Mexico prior lien
4& s- (2) $90,324,807 (of which $5,175,193 Issued) for extensions, &c.
T he right is reserved to issue $6,000,000 additional bonds to take up
£1,200.000 prior lien bonds o f tho M ex. Intornat. R R . C o.
Subject to call after Jan. 1 1917 at 105 In amounts not less than *10,000.000. or for cum . sink. fd . sufficient to retire entire issue b y m aturity.
Guaranteed General Mortgage 4 % Bonds ($160,000,000 auth.)
Issuablo for Mexican Cent, bonds, cash, &o......... .$47,765,075
Betterments, equip., retiring equip, obllg., f t c . . . 12,985,925— $60,751,000
The remainder of the $160,000,000 is reserved as follows: (1) $24,749,000
to retire N ational R R . o f M exico first consol. 4s; (2) $74,500,000 (o f which
$7 776 375 issued) for extensions, im pts., & c. Seo V . 86, p . 1320, 919.
T h e right is reserved to Issue additional bonds to retire an equal am ount
o f tho consol, m tge. bonds o f the M ex. Intornat. R R .
The general mtge. bonds will be subject to call at par la amounts not less
than $10,000,000 after April 1 1927; also on and after O ct. 1 1937 for a cum u­
lative sinking fund, which is to retire entire Issue not later than 1977.
Of the Mexican International consol. 4s, $2,497,000 were in Jan. 1905
reserved for extensions at $10,000 per mile and Im provem ents. The total
Issuo of consols is limited to $16,000,000. ' The guaranty of prln. and lnt.
b y National R R . of Mexico under agreement of June 30 1902 stam ped on
$6 501 000 of the consols has been assumed b y the National R ys. of M exico.
v ' 7 5 . ’n 185. Prior lien 4 54S, see V . 65, p. 151, 1071. Consol. 4s of 1897
listed on N. Y . Stock Exch. Feb. 1898. See application in V. 66, p. 341.
Vera Cruz & Pacific R R . bonds are subject to call at 110 to July 11924,
and on July 1 1924 and thereafter at par. T he com pany Jointly guaranteed
Vera Cruz T erm . C o. dobs. V . 87. p. 39; V . 91, p. 465; V . $2, p. 528.
Tho 6 % 2-year secured gold notes dated Juno 1 1913 woro defaulted at
m aturity June 1 1915. V . 96, p . 1629; V. 97, p . 176, 1504, 1663, 1739;

& Eastern (E lec.) R y. Interests. V . 96, p . 1630. Stock, $250,200; par o f
shares, $100 each. Divs. paid: In 1882, 3 % : 1883, 6 % ; 1903 to 1905. 5 % ;
1906, 10% ; 1909 and 1910. 2 ^ % ; 1911. 6 H % ; 1912. June, 6 ' A % ; 1913.
5 % : 1914, 16% ; 1915, M a r., Sept, and D e c., 2 % . B onds, see table and

Ila la n co .................... - ...................d c f.$28,909,329 d$28835,624 sr.$687,382
................
................ (2)1,153,316

E A R N IN G S .— F or April and 10 m os. end. A pr. 30 1916 (V . 102, p .2167):
P e r io d —
G ross.
N e t a f t .T a x . O th er I n c .
I n t., A c .
D a l..S u r .
April 1 91 6 .............$166,761
$78,587
$5,847
$44,016
$40,418
10 m os. '1 5 - T 6 - - 1.516,495
566,105
34,286
450,912
149,481
Surplus Net Income ($149,480) as Above for 10 Months (000 Omitted).

Year'ending June 30 1915, gross, $131,142; net, $19,125. In 1913-14,
gross, $166,773; net, *45.731: other incom e, $75; bond in t., $12,173; b al.,
sur., *33,633.— (V . 98. p. 1157. 1695.)
NEW JERSEY IND IANA & ILLINOIS R R .— South Bend to Pine, I n d .,
12 miles.
S tock, all Issued, $100,000; par, $100. B on d s,$250,000
M echanics’ Trust C o., Bayonne, N . J . trustee. Year ending June 30 1915
gross, *48,556: net, *11,972; other Incom e, *294; in t., taxes, & c., *20,223:
bal., d ef., *7,957. Pres. & G en. M g r., C layton M a yo; V .-P ., R . O . Scholz;
Sec., II. C . VVeppler; T reas., T . A . H ynes. O ffice, 149 B roadw ay, N . Y .
NEW JER SEY JUNCTION R R ,— Terminal road through Jersey City,
H oboken and W eehawken. about 5.62 miles.
Leased for 100 years In
1886t o N . Y .C entral, which guarantees bonds and owns t h e $100,000s to ck .

NEW JERSEY & NEW YO RK R R .— Owns from Erie J et., N . J .. to
Garnervllle, N. Y ., 29 miles; branches to New City, & c., 5 m .; operates to
Ilaverstraw , ftc., 14 m .; total operated, 48 miles. Eric R R . In A pril 1896
purchased con trol. Stock. $1,440,800 co m .. $787,800 pref.; par, $100. Con­
trol Is with pref. stock and 1st mtge. till 6 % has been paid on pref. for three
years at 5 % . V. 90. p. 914. Year 1914-15, gross, $861,698; net, after taxes,
& e., $232,892; other incom e, S28.747; b a l., d e f., $25,994. In 1913-14,
gross, $846,601; net, $181,895.— (V . 90, p. 914.)
NEW LONDON NORTHERN R R .— Owns from New L on d on , C onn.,
■da B rattlcboro, V t., to South Londonderry, V t., 158 miles.
L E A S E D for 99 years from Deo. 1 1891 to Central V erm ont. The rental
Is $213,552 per annum, which leaves a small surplus after providing for In­
terest, & c., and 9 H % divs. Taxes & impts. m et b y lessee. V . 90, p . 1677.
D IV ID E N D S .— 1888 to April 1892, 7 % yearly, then 8 % yearly to 1893
In 1914 owing to tho Interruption o f business b y tho 1M exican revolution,
to July 1912, 9 % per ann.; since July 1912, 9 }$ % per ann. (three o f 2 H %
tho bondholders wore offered in pajnnent o f maturing coupons 6 % notes,
duo Jan. 1 1917 at par, entitled to interest ou t o f incom e from deposited and one o f 2 5 4 % )-— (V . 90, p . 1677.
securities and available rovenues and secured b y pledge o f 6 % 10-year
N EW M E X IC O C E N T R A L R R .— Owns Santa F e, N . M ., to T orran ce,
M oxican G ovt, treasury bonds o f 1913 advanced to tho com p any (on which
117 m . R a l p h C . E ly o f Dem ing, N . M ., is receiver. Foreclosure pending
int. was suspended in Jan. 1914 for 6 m os.)
Seo V. 98. p. 74, 453, 1072, under 1st M . o f 1901 and Albuquerque & Eastern m tge. V . 90. p . 168, 1564,
1393 1694. 1993, 1749: V. 99, p. 120, 407, 675, 1749.
1677- V . 92, p. 1109; V. 100, p . 140. Foreclosure sale was adjourned indefi­
R E P O R T .— R oport for year ending Juno 30 1915 was In V . 101, p . 1969. nitely. V . 98. p. 1993: V. 9 9 ,p. 198, 1300. S tock, $2,500,000. all o u t­
standing. For year end. June 30 1914. gross, $92,741: oner, d e f., $6,586:
showing, In M ox. curr. con v. into U. S. curr. at 50c. on dollar:
ln t., taxos, & c., *23.527; bal., d e f., S30.114. In 1914-15, gross, $89,552:
1914-15.
1913-14.
1912-13.
Gross earnings................................... - - - $1,776,982 $34,273,341 $57,370,282 op . d e f., $6,953. Free., Harrison N esblt, Pittsburgh, P a.; T reas., Charles
N ot ea rn in g s.............................................. dof.$45,487 $2,379,776 $21,126,336 O . M u rray; S ec., Francis J. Torrance, O ffice, Santa Fe, N . M .— (V . 100,
Other incom o...............................................
402,886 d f.3,445,349
1,445,164 p . 140.)
NEW ORLEANS GREAT NORTHERN R R .— Owns New Orleans, L a .,
to Jackson, Miss., 182 miles, with branches, R io , L a ., to Tylertow n, Miss.,
T otal incom o........................................sr $357,399df$ 1,065,573s$22,571,500
41 m ; Slidell, L a., to Folsom , L a., ftc., 62 m ., making a total of 285 miles
Taxes, rents, A c . ....................................... $5,253,665 $4,249,456 $1,225,887
23,520,595 20,622,051 operated, incl. 29 m . trackage from New Orleans to Slidell. L a., and other
Interest charges.............................. - - - 23,655,064
Iteservo fu n d--------------------------------------------------------------36,178 trackage, 13 m . Stock. *7,500,000. 1st M ., $10,000,000 auth. Issue;

First preferred dividend .........................

Balance, deficit.......... ............................ $ 2 8 ,909 ,329 $28,8 3 5 ,6 2 4

$465,934

Chairman o f Board, Carlos Basave y del Castillo Negrete; Vice-Chairm an,
Jose Diego Fernandez; President, A lberto J. Pant; Sec., R . I). Carrion,
all o f C ity o f M exico; A sst. Sec., C . It. Hudson, and Asst. Troas.. F. M .
Souther, N . Y . C ity . N . Y . office, 25 Broad St.
Directors (elected O ct. 30 1915): (a) In M exico C ity : Jesus Acuna,
Carlos Basave y del C astillo N egrete, Luis Cabrera, Elias S. A . do Lim a,
Jose Diego Fernandez, Antilles L lorduy, Fernando Gonzalez R oa, Gabriel
M ancora Rafael N ieto, A lberto J. Pani, Joso Simon and Rafael Zubaran.
(b )
In Now York C ity: Juan N . A m ador, A lfrodo Caturogli, W in. E.
Curtis J J. Hanauer, R oberto V . Posqueira, W alter T . Rosen, Charles H .
S ab in ,'R ich a rd Schuster and 11. II. W ehrhane.— (V . 101 .p. 1969. 1973.)
NEVADA-CALIFORN IA-OREGON R Y .— (3 - f t . g a u g e . ) — R eno, N ev., to
Lakcview , O re., 236 miles; Plumas to C lio, C al., 37 miles (form er
Sierra A M ohaw k B y ., merged1 Jan. 1 1915)1. V . 99, p. 1366. Stock,
co m .. $1,450,000; p rof., $750,000. all out. After 5 % on co m ., both stocks
share pro rata. D ivs. on pref., 1906, J /o', 1907, 4 % ; 1908 to 1910, 5%
each: 1 9 1 1 , 3 % ; Sept. 1912, 2 % ; on com ., 1% 1909: 1% 1910: nono since.
In April 1916 was authorized to issue $117,000 additional bonds, o f which
$38,000 wore sold and $79,000 placed in treasury, m aking total bonds
$1,277,000. V. 102, p. 1540, 1626.
E A R N IN G S .— 10 m o s .,(1915-16............... Gross, $297,801; net, $22,589
July 1 to April 30.
\1914-15................Gross, 311.566; d c f.,
1,868
R E P O R T .— For 1914-15 in V . 101. p. 1549:
F is c a l Y e a r —
C ross.
N et.
I n t .,A c .
D e ficit.
T o t.S u r .
1914-15
____ $377,749 $12,768 $95,185 $82,417 $91,896
1 9 1 3 - 1 4 : : : : : : : : : : : _____ 3 7 2 .5 1 0
7 4 .18 8
90.044
15 .8 5 6 2 3 3 ,4 3 4
P res., Charles M oran, 68 William St., N . Y . (V . 102, p . 1540, 1626.
N EV A D A C E N T R A L R R .— Battlo M t. to Austin, N ov ., 94 miles;
,3-ft. gaugo. Stock, $750,000, in $100 shares, largely owned by tho N ovada
C om pany. Interest payments on tho $750,000 incom o bonds in recent
years: July H )0 6 ,4 % ;J a n . 1908, 2H % ;F e b . 1909, 1% % ; July 1911, 1 H % ;
Aug. 1914. 314 % ; M arch 1916, 1 % . Pres., J. G . Phelps Stokes, 160 W ill­
iam S t., N . Y . t ) i t y .— (V . 102, p . 1103; V. 99. p . 538.)
N EVADA COPPER BELT R R .— Owns W abuska to Ludw ig, N ev.,
37.8 miles; W abuska to Thom pson, 2.50 m .; total, 40.3 miles. Incorp. In
M aine M ch. 22 1909. Stock auth., $1,000,000, all issued. Bonds (auth
Issue *1.000.000). Federal Trust C o .. Boston. M ass., see table above
Current liabilities Juno 30 1913, $229,000. In 1915, gross, $75,752: not,
$14,360. Pres., Samuel N aphlay, Grass Valley, C al.— (V . 96, p. 1840.)
N EVADA C O U N T Y N A R R O W G A U G E R R .— C olfax to Novada City
C al., 2 0 H miles. In M a y 1913 control was acquired by Oakland Antioch




J u ly .

A ug.

S ep t.

O c t.

N ov.

D ec.

Jan.

F eb.

M a r.

A pr.

T o ta l.

$2
$10
14.
$2
$5
$15
$16
$16
$40
$40
$149
R oport for yoar ending Juno 30 1915. in V . 102, p . 341, showed: G ross.
$1,600,000; not, aftor taxes, $512,992; other incom o, S3.345; int. on bond s.
$424,863; other charges, $83,703; disc, on securities, $21,835; b a l., d e f,.
$14,064. Pres., W alter P. C ooke: V .-P . & Gen. M g r., W m . E . Farris.
V .-P s ., O. I. James and A . C . G oodyear; Sec. & T reas., F. A . Lehr.—
(V . 102, p . 154. 341, 2167.)
NEW O R L E A N S M O BILE & C H IC A G O R R .— Operates 403 miles, via.:
M ob ile,A la .,to M iddleton, T e n n .3 6 9 1Ellisville Jet. to Ellisville, M i s s .. 7
Beaum ont, M iss., to Hattiesburg 2 7 1
Sold under foreclosure A ug. 18 1915 and will be reorganized per plan .
V . 100, p. 1078, as G u lf M ob ile & N orthern R R . V . 101. p. 213, 1371.
In Juno 1916 tho receiver was still In possession and whilo tho now com pany
had boon incorporated there was no immediate expectation o f Its taking
possession pending settlement o f litigation as to legality o f sale. In M a y
1916 R eceiver W illiam F. Owen (V . 97, p. 1898) began tho construction o f
an extension from M iddleton, T enn ., northerly to Jackson, T onn ., 34 miles,
at an estimated cost o f between $700,000 and $800,000. T ho receiver has
cash on hand to cover tho greater part o f this cost. V. 102, p. 1811.
B oth classes o f stock are to be vested for not over 5 years in voting
trustees, v iz.: John W . Flatten. Frederick W m . S cott, Samuel S. C am pbell,
M aurice Hely-Hutchtnson and A . II. S. P ost. T ho pref. stock is to be 8 %
non-cum . for first 3 years and cum ulative thereafter.
O f tho new bonds the com m ittee m ay cause sufficient to be sold to provide
the cash requirements o f plan ($845,662), & c., or m ay provide for same
b y issuo o f notes or otherwise.
T e r m s o f E x c h a n g e o f B o n d s , A c . , f o r N e w S t o c k , o r C a s h — S e e f o o t n o t e “ z.
P resen t
------- N e w S e c u r i t i e s i n E x c h a n g e T h e r e f o r ----A m o u n t.
P r e f e r r e d S t o c k ( v . t . c . ) . C o m . S t o c k (». t . c . ) ' .
Ist& R e f.M .(p rin .)$ 1 3 ,6 1 3 ,2 0 0 (83 1 -3 % )$ 1 1 ,344.333 (75% )$10,209,900z
Unsecured d e n t s ..
611,084 ______________________
(100% )611,084z
$4,674,775 o f S a i d *10.209.900 N e w C o m m o n S t o c k . H o w e v e r , O f f e r e d to
P r e s e n t S t o c k h o l d e r s a t *20 p e r N e w S h a r e .
E x is tin g S to c k s—

N o w O u t.

Pref. (paying *10 per share present s to c k )— $1,275,750
Com m on (paying *10 per share o f present stk .) 8,073.800

N ew C om m on.

(50% )$637,875
(5 0 % )4,036,900

z Or cash in lieu o f a portion o f such com m on stock at tho rate o f *20
per share ($100 par value) to the extent that the same m ay be allotted to
stockholders or others, at *20 per share. Com pare V . 99, p. 1525, 1452.

90

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S .
{F o r a b b r e v ia tio n s , A c . , se e n o te s o n f i r s t p a c e ]

M iles
R oad

D a te
B onds

New Orleans & North Eastern— Stock J6.000.000____
196
Prior Hen m ortgage g o ld ____________________ Ce.xoJ
196 1885
General m ortgage J8.000.000 g old ..................F.xo?
196 1902
In com e m ortgage (non-cum ) J l , 500.000 gold__N .xf
196 1902
E quip trusts ($17,000 s-an to A ug 15 1924)............
1914
do
Series E gold due about $17,500 s -a ..B a
1916
New Orleans Term— 1st M J15,000,000 g gu_G.xo*& r
—
1903
Ne w Orleans Texas & M exico R y.
1st Lien M $15,000,000 g Sor A call 105 C ol yyc*& r*
1915
N on-cum incomes $25,000,000 Ser A call p a r ____ Q
1915
Oot So N O & P eq tr notes gu due J80.000 s -a .-B a
1907
N O T & M eq notes ser B gu due $56,000 s-a____ G
1911
Other equip trusts assumed b y co or Its subsidiarios.
Newport & Richford— 1st M J350.000 g gu C & P .SB .xc
22 1911
New York Bay— First m ortgage J6,000,000 g o ld .O P x
14 1908
N Y Bklyn & Manhattan Beach— Pret stock non -cu m .
15
First cons m tge (now 1st M) gold guar b y L I.-C e .o *
15 1885
N Y C e n tra l R R — Stock ($400,000,000 a u th )____ T r
C onvertible bonds call 110 $100,000,000_____ c*&r*
1915
R ef& Im p t M g .Series* *A / ’assumed,see text G ,c*&r *
1914
—
(1) U n d e r l y i n g M a i n L i n e M o r t g a g e —
N Y 0 4 H R B R M $100,000,000 g ____ Ce.xc*& r 1,828 1897
do
do
M tge on Spuyten D & P M g .C e .
1909
Lake Shoro & M S 1st M gold , ass______ U s.xc*& r
826 1897
do
Debentures (sec b y 2d M ) g, ass_Ce.xc*& r
1903
do
do
do
gold assum ed*____ Ce.xc*& r
1906
(2) N Y C & H R i o b o n d s s e c u r e d b y C o n s o l ' n M t g e etc on line N
Collateral 314s (M ich Cent stock as colla teral). G .x
1898
b L ake Shore Collateral 3 14s a ssu m ed ___G .xc*& r
1898
b Consolidation M ($167.102,500)............ _B a.xc*& r
1913
Debentures) Junior Hens under C o n -/____ Us.xc*& r*
1904
do
/ solldation M o f 19131______ Q .sc*& r
1912
(3) O t h e r N e w Y o r k C e n t r a l & H u d s o n R i v e r R R A s s u m
■ Battle Cr Sc Stur 1st M gold guar p & 1 (see M Cent)
41 1889
Debentures (V 69, p 1102; V 71. p 502. 9 64 )..........x
1900
R om e W at & Ogdens 1st M ($500,000 314s) . . . F . z c All
1874
Consol m ortgage.......................
F.zx All
1874
x Rem ainder o f issue guaranteed b y M ich Cent R R

Par
V a lu e

A m ount
O u ts ta n d in g

R a te
%

W hen
P a y a b le

$100
1,000
1,000
1,000

$6,000,000 1 in 1915
1,320,000
5 g
6,102,000
4H g
1,500,000 Up to4 M
289,000
4H
350,000
1,000 &o 14,000,000
4g
100 &c
1.000
1,000
1,000 &c
100
1,000
100
Par
$. £ & fr
1,000 &c
1,000 &c
1,000 S ee
1,000 S ee
1,000 &c
Y to B uf
1,000 &c
1,000 S ec
1.000 S ec
1,000 S ec
1,000 &c
Issu es—
1,000
1 bond
1.000
1,000

E A R N IN G S .— T he net Income after maintenance and depreciation
for year ending June 30 1914 but before bond and other Interest, was $629,­
000, and for 6 m os. ending D ec. 31 1914 $212,747(wlth alm ost com pletesuspension o f export cotton and lumber traffic . Under normal con di­
tions and the com pletion o f the Jackson extension, if constructed, the new
com pany should, it Is estimated, earn a net incom e o f $700,000 available
for interest, dividends, betterm ents, &c.
C o m m i t t e e f o r 1 s t a n d R e f . 5 s . — John W . Platten, Chairman; Chauncey
H . M u rp h y, 55 Cedar S t., Sec.; U. S. M tgo. Se Trust C o ., depositary.
Over 9 3% deposited July 1915. V . 96. p . 1630; V . 97, p . 1840; V . 100, p.
1592; V . 101, p. 48,

There are $33,000 old Mobile Jack. Sc K. C. 1st 50-year (not tax-exempt
gold 5s. due June 1946; int. J. Se D.; Central Trust Co., N. Y.. trustee.

E A R N IN G S .— 10 m os., f 1915-16......... Gross, $1,675,305; not, $458,984
July 1 to A pr. 30. \1914-15......... Gross, 1,500,146: not. 315,128
F or year 1914-15, gross. $1,771,472; net, aftor taxes. $374,128.
R E P O R T .— R eport for year ending June 30 1914, in V . 99, p . 1525,
showed gross, $2,204,370; net. after taxes. $667,487; in t.. rentals. & c.. $776.­
118; bal., d ef., $108,631.— (V . 101, p. 48, 213, 615, 1371; V . 102, p. 1811.)

NEW ORLEANS & NORTH EASTERN RR.—New Orleans. La., to
Meridian, Miss., 196 miles; trackage, 8 miles. Stock, $6,000,000 (par
$100), of which $5,336,300 and $5,595,000 gen. 4Hs and $1,500,000 in­
comes wcro^held in Jan. 1910 by Ala. Now Orleans & Texas Pacific Jet. R y .

5,870,000
6
14,675,000
160,000
6
840,000
5
739,083
350,000
5 g
4,241,000
4 g
650,000
3
1.726.000
5 g
249,590.460 5 In 1915
100.000.000
6
40,000.000
4>5 g
94,000,000
3H
2,500.000
50,000,000
3 X
50.000,000
4 g
50,000,000
4 g
falo. S e c ., a nd (b )
19,336,000
3H
26,291.000
3H
64,287,000
4 g
48.000,000
4 g
a 9 .188.000
4 g

[Vol . 102.
L a s t D iv id e n d
a n d M a tu rity

New Orleans, La
Central Trust Co N Y
Farmers’ L & T r C o, N Y
(If earned) on Deo 1

Y early Sept 4 1915 1%
A & O N ov 11940
J
& J Jan 1 1952
% gold July 1 1952
F & A T o A ug 15 1924
J & D
&
J
J July 1 1953

Guaranty T rust C o, N Y

J

New Y ork

&

D Oct 1 1925
Oct 1 1935
F & A Aug ’ 16-Feb '17
M & S15 T o "Sept 15 1923
T o June 1 1924
J
&
J Jan 1 1941
J Sc .) Jan 1 1948
A Sc O Apr 1916 2 H %
A Sc O Oot 1 1935
Quar
M a y 1 ’ 16. I H
M Se N M a y 1 1935
A Se O O ct 1 2013

g J Se J July 1 1997
g J Se 1) June 1 1959
g J Se D June 1 1997
M Se S Sept 1 1928
M Se N M a y 1 1931
B uffalo to C hicago, S ec
g F Se A Feb 1 1998
g F Se A Feb 1 1998
F Se A Feb 1 1998
M St N M a y 1 1934
J *
J Jan 1 1942

X79.000
3 z
5,500,000
3H g
9,576.000 5J& 3 H
419,000
4

P la c e s W h e re In te rest a n d
D iv id e n d s a re P a y a b le

J
J
A
A

&
Sc
Se
Sc

D Deo
.1July
O July
O July

1
1
1
1

1989
2000
1922
1922

New York
do
do
do
do
Safe Dep Sc Tr Co,B oston
New York Sc Philadelphia
Checks mailed
U S Mtge & T r Co, N Y
Grand Central Term ,N Y
Grand Central T er, N Y
N Y . L ondon & Paris
Grand Central T er, N Y
do
do
do
do
do
do
do
do
do
do
do
do
do

do
do
do
do
do

do
do
do

do
do
do

T h e $5,870,000 cash from the sale o f First Lien bonds will be used as
follow s: (o) T o p a y receivers’ certificates, $2,928,000; (6) preferential
claim s, $376,000; (c) syndicate com m ission, $146,750; (d) reorganization
expenses, & c., $350,000; (e) to provide funds for paym ont o f interest on
$6,OOO.O0O First Lien G old B onds, Serios A , and equipment trust p aym ents,
for period o f 2 years, any am ount payable in cash on acquisition o f proper­
ties and for working capital, $2,069,250.
T ho ontlre issue o f new stock has boon deposited for not exceeding 5 years
with W illard V . K ing, L . A . M cM illa n and Chas. H. Sabinas voting trustees,
with power in m ajority on approval b y the holders o f n ot less than tw o thirds o f the outstanding voting trust certificates, to sell, exchange or other­
wise dispose o f said stock en b loc for the pro rata benefit o f the holders o f
the voting trust certl. upon such terms as the trustees m ay determ ine.
E A R N IN G S .— Com pare report, V .101,p.768, and ’ ’ C h ro n ." June 24 ’ 16.
10 M o n t h s e n d e d A p r i l 30 1916— C r o s s a n d N e t a f t e r T a x e s .
M i l e s ----- C r o s s E a r n i n g s ----— N e t E a r n in g s—
O p e r . 1915-16.
1914-15.
1915-16. 1914-15.
N ew Orl. T ex. & M ex. Ry__286
$1,409,598 $1,266,398 $284,530 $165,566
St. I t . Browns & M ox. R y__548
2,175,782 1,907,130 528,038 440,921
Beaum ont Sour L. Se W . R y.119
561,187
428,760 109,710
14,135
Orange & N orthw . R R ____ 61
120.380
132,512 d efl7,52 3 d e f.4 ,811

E a r n in g s f o r

T otal ... ............................. 1.014 $4,266,947 $3,734,800 $904,755 $615,811
8 M o s . e n d . F e b . 29 1916 A p p l i c a b l e t o N e w S e c u r i t i e s .
[On 1,014 m. o f road, inch form er trackage Baton R ouge to N ow Orleans.]
D I V .— ( % ) / ’03. ’ 04. ’ 05. ’ 06. ’07. '08. ’09. ’ 10. ’ l l . ’ 12. ’ 13. ’ 14-’ 15.
Operating
1914-15.
1915-16.
D e d u c t—
1914-15.
1915-16.
Yearly (Sept.)\ 3 3
3H 5 6 4 5
6H 614 5
5
1 yrly
revenue____$2,979,967 $3,411,895 Hiro o f e q u ip .
$80,987
$19,880
- O f the gen. 4 H s , $1,372,000 are reserved to retiro the remaining $1,320,­
464,607
745,300 Itontals______
253,769
271,306
000 prior lien bonds which were oxtended In 1915 to 1940 at 5 % . and N o t, after cax.
28,530
27,491 Int. on eq.notes
67,529
68,207
S466.000 for future needs. V . 101. p . 774. E quipm ent trust serios E . Othor incom o.
V• 102, p . l o l l *
T otal n e t ., $493,137
$772,791
Balanco . . .
$90,852 $413,398
E A R N IN G S .— 10 m o s.,/1 9 1 5 -1 6 ......... Gross, $3,137,315; net. $845,974
Interest on $5,870,000 now 1st M . 6 % bonds for 8 m onths..........
234,800
July 1 to A p r. 30. U 9 1 4 -1 5 ......... Gross, 2,917,998; net, 533,246
Balance for 8 m onths over present fixed intorost charge..........
$178,598
R E P O R T .— F or 1914-15, in V . 101, p . 1624.
Y r .e n d .y n e 3 0 .
G ross.
N et.
I t h . I n c . I n t . , & c . D i v e . ( 1 % ) B a la n c e .
O F F IC E R S .— Chairman o f the board, Frank Andrews; Pros. Se Gen.
1914-15----------- $3,486,255 $666,890 $105,469 $567,903 $60,000 $144,456
M g r., J. S. Pyeatt; 1st V .-P res., G . II. W alkor; Treas., J. II. Lauderdale,
97,116 699,437 60,000
68,929 A u d ., J. W . M cC ullough. .
1 9 1 3 -1 4 -.......... 4,057,275 731,250
Pres., Larz A . Jones.— (V . 101, p . 774, 923, 1624, 1629; V . 102, p . 1811.)
D IR E C T O R S .— J. S. P yeatt, O . II. W alker, Frank Andrews, Alex.
NEW ORLE ANS TE R M IN A L CO.— Owns extensive terminal property Berger, Stedman B uttrick, Carl A . de G ersdorff, J. D . O ’ Keefe, W illard V .
at New Orleans and a belt railroad around the city, leased to the St. Louis & King, A lon zo P otter, Henry Sanderson, Lorenzo Semple, John F. Shepley,
San Francisco and Southern R y . for 99 yrs. from July 1 1903, rental covering M elville W . T erry, Elisha W alkor and George E. W arren. N . Y . O ffico,
all expenses of operations, maintenance, taxes and Interest. Southern R y . 61 B roadw ay, N . Y .— V. 102, p . 886, 976, 1812.
and St. Louis & San Francisco each owned half o f the J2,000,000 outstanding
stock ($5,000,000 a u th .), and Jointly guaranteed the bonds, but the S t. L.
NEWPORT & RICHFORD R R .— Owns from N ewport, V t., to Canadian
& 8 . F . on July 1 1913 defaulted In paym ent o f one half o f the Int. then lino near R ich ford , V t., 22 m iles. Leased for 99 years from June 8 1881 to
due and the C ourt held In M a y 1914 had forfeited its one-half sharo, the Montreal & Atlantlo R y ., in turn operated b y Canadian Paclflo R y .; rental
Southern taking over the same. See V . 102, p . 886; V . 98. p. 304, 1460; $18,000 a year. S tock, $350,000, m ostly owned b y Connecticut & PasV . 86, p. 721; V. 88, p. 564; V . 92, p. 660; V . 97, p . 1898. T h e passenger sumpslo Rivers R R . (B oston & Malno system ), which guarantees the new
terminals are used by tho New Orleans Se Northeastern R R ., N ew Orleans $350,000 1st 5s, principal and interest. V . 91. p. 1026.— (V . 91. p. 1026.)
Great Northern R R . and Louisiana R y . Se N avigation C o . Pres., L . A .
NEW PORT & SHERMAN’S VALLEY R R — N ew port to N ew Ger­
Jonos.— (V . 98, p . 763, 1460; V. 100, p . 813.)
m antown, P a ., 31 milos. Stock, authorized, $180,000; outstanding June 30
NEW ORLEANS T E X A S & M EXICO R Y .— R O A D — O R G A N IZ A 1914, $165,218: par, $50. B onds. $125,000 1st 20-yoar 5s due July 1 1911;
T IO N .— This com pany and its subsidiaries, tho St. Louis Brownsvillo & $1,690 2d 25-year 4s due A pr. 1 1921 and $73,400 R ef. M . 30-year 5s due
M exico R y ., Beaumont Sour Lake & Western R y . and Orange & N orth­ 1938 ($250,000 auth. issuo ; int. J. & J . at Roal Estate T rust C o ., trustee;
western R R ., fdrm a direct line from N ew Orleans to Brownsville, T ex. denominations $100 and $500). For yearending June 30 1915, gross, $38.­
S y s t e m O p e r a t e d J u n e 1916 ( I n c l u d i n g A f o r e s a i d S u b s i d i a r y L i n e s ) .
842; net, $10,501 other incom o, $379; int., taxos, & c., $13,878; bal., sur.,
$2,994. Pres, and Gen. M g r., D a vid Grlng; O ffice, N ew port, Pa.
M iles.
M ain lino from Baton R ouge via Houston to Brownsvillo, T e x ., a b o u t. 648
NEW Y O R K BAY R R .— Owns from Kearney Junction, N . J ., to
Or the foregoing 564 m . is owned and 85 m . is under trackage.
W averly, and from W averly to the bulkhead line at Greenvillo piers, on
Various branches, aggregating a bou t.................... .................................... .. 273
N ew York Bay, 11.02 miles, with 2 branches, 2.57 miles; total. 13.59 milos.
o f which 256 m . is owned and 17 m . undor trackage.
•
Stock, $8,000,000, all ownod b y Ponn. R R . M ortgages payable D e c. 31
1914. $250,000.— (V . 86, p . 920, 982.
A total o f abou t____________________________________________________ 9 2 1
Principal trackage is from D o Quincy to Beaumont, 46.54 miles, and „ NEW YO RK B ROO KLY N & MANHATTAN BEACH R Y . — Owns from
H ouston to Algar, 24.32 miles.
Fresh Pond Junction to Manhattan Beach (Coney Island), and branches
The com pany took possession o f Its property on M ar. 1 1916. C om ­ to Bay Ridge and Greenpolnt, 15 miles. Leased tor 99 years from M a y 1
pare V. 101, p. 768.
1882 to the Long Island R R . C o., which owns m ajority of stock. R enta),
O R G A N IZ A T IC>N .— Form erly part o f St. Louis Se San Francisco R R . Interest on bonds and 5 % on pref. stock. Comm on stock, $350,000.
put In 1916 separately reorganized, after foreclosure sale, per plan in L. I. R R . has attached to the bonds Its unconditional guaranty of principal
V . 101, p . 774, 768, 1714; V . 102, p. 886. Incorporated in Louisiana.
and Interest In addition to facts as to lease.— (V . 83, p. 1348)
N E W S E C U R IT IE S .— T ho plan, underwritten as to the sale o f $5,870,­
(T H E ) NEW Y O R K CEN TRAL R AILR O AD .— (See Mans pp. 88 and
000 new First Lien gold bonds by a syndicate headed b y Colum bia Trust 8 9.)—
Owns in fee direct lino from Now York to C hicago, 948 miles (four
C o. and Guaranty Trust C o. o f N . Y ., provided far tho following now tracks N . Y . to B uffalo, thence tw o tracks), and numerous branches, the
securities, o f which $130,000 First Lion bonds and $325,000 incomes re­ total mileage owned In M a r. 1915 aggregating 3,699 miles. A lso owns stock
main available for purposes o f tho now com pany.
control o f the W est Shore R R . (loascd), N . Y . to B uffalo and thence to
N e io S e c u r itie s I s s u e d b y “ N e w O r lea n s T e x a s & M e x ic o R y .”
C hicago, via (a) M ichigan Central R R . and Canada Southern R R . and
F i r s t L i e n C o l d B o n d s . — T otal auth., $15,000,000.
In t. rate, not exceeding
Now Y ork C hicago & St. Louis R R . (N ickel Plate L ino). B y similar
6 % per annum, as determined at time o f Issue. Issuable In series, due control o f the Pittsburgh & Lake Erie R R . tho Cleveland Cincinnati Chicago
at the same or different dates, not later than O ct. 1 1925, and callable at & St. Louis R y . and othor com panies, has close running connection to Pitts­
a prem ium . Reserved under restrictions for future extensions, im prove­ burgh. Colum bus, Cincinnati, Indianapolis, St. Louis, & c. T otal system
m ents, & c., $9,000,000. N ow Issued, Serios A 6 % , due O ct. 1 1925, ow ned, controlled, & c., Feb. 1916 about 12,842 miles, viz.:
but callable at 105 (Int. semi-ann.).
(1) Operated Directly. 6.054 Miles of Road,
5 % N o n - C u m u l a t i o e I n c o m e B o n d s . — Lim ited to $25,000,000 secured b y a
L in e s O w n ed —
M ile s .
Beech Creek E xten. R R ., & c .* . 135
trust indenture. T o bear non-cum ulative interest payable semi-annually
New
York
to
C
hicago_______
953
Walkill Valley...............................
33
at rate o f 5 % per annum, but payablo only when and as authorized by
L i n e s L e a s e d , e t c .—
M iles .
tho board o f directors. Entitled to share In the security o f any now B ra n ch e s___________________ 2,747
P r o p r i e t a r y L i n e s —•
71
M ahoning Coal R R * __________
m ortgage issue on a parity with any such indebtedness created In excess
65
o f $15,000,000 1st M . reserved for future uso, $10,000,000, now issued. Cornwall Bridge C o ........................... 18 D etroit Hillsdale & S W * ..........
D etroit T oledo & M ilw a u k e e ..
47 Fort W ayne Se Jackson*______
98
Serios A , due Oct. 1935. but callable at par and Interest____ $15,000,000
Battle Creek & Sturgis................
7 Lake Erie Alliance Sc W heeling.
88
C a p . S t o c k . — $25,000,000; $10,000,000 for future use. N o w .$15.000,000
Erie & Kalam azoo R R ...............
22
T r e a t m e n t o f O l a B o n d s . — (1) T o oach assonting holder o f a $1,000
L i n e s L e a s e d . e t c . (*See this c o .) —
Kalam azoo A . Se G . R ...............
58
bond (whether 5 % or 4 H % bond) w ho subscribes and pays or $200 o f W est Shore*............................ 479
6
O p e ra ted u n d e r C o n tr a c t—
First Lien G old Bonds as above provided: First Lien G old B onds, Sorlos A , T ro y Se Groenbush*...................
St. Lawronco Se A d iro n d a ck * ..
56
$200: 5 % N on-C um ulatlve Incom e B onds, Series A , $500, and stock, $500. New York & Harlem*........... 136
New Jersey Junction*______
6
D olgovllle Se Salisbury_________
4
(2) T o each assenting holder o f a $1.000 bond (whether 5 % or 41* % bond)
Boston & A lbany* (S y s t e m ).. 393 Trackage rights, & c,.................. 468
who does not subscribe for First Lien G old B onds, as above provided: 5 %
Beech Creek R R .* .....................
164
N on-C um ulatlve Incom e B onds, Series A , $400, and stock, $250.
T otal In earnings F ob. 1916-6,054




E a r n in g s o f S y stem f o r

(b)

R A IL R O A D C O M P A N IE S
{ F o r a b b r e v i a t i o n s , A c ., s e e n o u s o n f i r s t p a g e ]

N ew Y o r k C e n tra l R R ( C o n c l u d e d ) —
n W & Ogd Term R R first M gold assum ed--------zc*
Utica & B l'k RIv 1st M gold guar p & i.C e .z c
New York & Northern first m ortgage g o ld -------- zc
N Y & Putnam co n s g gu p & i „ ................ U n.xc*A r
M oh & M ai 1st M $15,000 p m g gu pA i(end) O ol xc*
Consolidated mtge g o ld ------------------------- G .xc*A r
Carthago & A dirondack 1st M g guar------ U n.xc*A r
Carth W ater & Sack Uar 1st M g gu p & 1 (end) _ .x
Gouverneur & Oswegatchle 1st M g gu p & i-U n .x c
L ittle Falls & D olgeville first m ortgage----------------x
(4) B o n d s o f O t h e r C o m p a n i e s I n c l u d e d i n M e r g e r
Indiana Illinois & Iow a 1st M gold --------------IC .xc*
Chic Ind & South consol M g old _______ a .x c * A r
Kalam azoo A W hite Pigeon 1st M assum— U n.xc
Pine Creek 1st M gu prin and lnt endorsed------------r
Sturgis Goshen A St Louis 1st M gold p A 1 guar__z
Kalam azoo Allegan A Gr Rapids stock rental guar.
First m ortgage guaranteed.....................
Un.c
Erie & Kalam azoo (Teased) stock Toledo to Palmyra
Jamestown Franklin & Clearfield—
1st M $25,000,000 auth guar.................. 0 xc»& r*
Cleveland Short Line R y 1st M gold guar__G .xc*A r
Lake Erie & Pittsburgh— see that com p a n y—■
(5) N o t e . & c . , I s s u e s o f N Y C e n t & I I R i v R R a n
N Y Cent oq tr (B & A ) $500,000 due y r ly .a .z c * A r
New York Central Lines—
__
___
_
.,
Joint eq tr g $2,000,000 an (V 86. p 920) . . q . z o ’ &r
Jd o $2,000,000 an (V 90, p 9 1 4 )--(l.z o * A r
do
do
■- due $1,000,000 yea rly............. Q zo*Ar
do
do
do due $1.600.000 y e a r l y ...........G .zc*A r
do
do Issue o f 1916 $11,730,000 V 102 p 345
do

M iles
R oad

7
150
57
57
182
182
46
29
13

D a te
B onds

Par
V a lu e

1888
1890
1887
1894
1892
1902
1892
1891
1892
1902

$1,000
1,000
1,000
1.000
1,000
1.000 &c
1,000
1,000
1,000

o f Jan and M

203
337
37
76
29
68
58
26

1901
1906
1890
1885
1889
1888
1909
1911

C o m . S tk .

P r e f . S tk s.

1915
1.000
1.000 &c
1,000
1,000
1,000
100
1,000
50

1.000

$375,000
1.950.000
1.200.000
3.987.000
2.500.000
3.900.000
1.100.000
300.000
300.000
250.000
4.850.000
15.150.000
400.000
3.500.000
322.000
610.000
840.000
300.000

1.000 Ac

11,000,000
11.800.000

1912

R a te

%

5 g
4 g
5 g
4 g
4 g
3>* g

|l
I®

W hen
P a y a b le

M
J
A
A
M
M
J
J
J
J

A
A
A
A
A
A
A
A
A
A

L a s t D iv id e n d
a n d M a tu rity

May 1 1918
July 1 1922
Oct 1 1927
Oct 1 1993
Sept 1 1991
Mar 1 2002
Dec 1 1981
July 1 1931
J u n e l 1942
July 1 1932

C os—
$1.000Ac

5,500,000

1907
1910
1912
1913

1.000
1.000
1.000
1.000

& c

July
Jan
Jan
D ec
Dec
A pr
July
Feb

! g

ie

C o m . S tk .

P la c e s W h ere In te rest a n d
D iv id e n d s a r e P a y a b le

Grand Central T erm .N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Am E xch N a t B k . N Y

3 g
6
5
10

L incoln N a t B ank, N Y
1 1950
T reas Grand C ent Term
1 1956
do
do
«
1 1940
do
do
1 1932
1 1989
1916
1 1938
1916, 5 % Lincoln Nat Bank, N Y

June 11959
Apr 1 1961

4 g
4M K

Shot e

d Lake

to N .Y .C .

$840,965
M ich . Central
. . . . . . $16,819,300 _____ N one $18,738,000
125,150
6,240,000 $16,000,000 14,000,000
N.
Y .O .A S .L .$ 8 ,778.000
N one 29.988.000 1,499,425
Pitts. A L . E .
---------- 14,994,250
661,367
1.500.000
865,900
452,925
M a h .O o a lR R . 399,500
O.
O .O .A S t.L .. 30,207,700 10,000,000 47,027,200
5,940,000 11,840,000 11.840.000
Lako E . A W .5,930,000
3,708,000
5.846.300
6.500.000
T o l. A Ohio C .3,7 0 1,40 0
000 J70.000.000
R o a d in g flst pf6,065,000l 9,852,500 28.000.
1.601,400
42.000.
000 (
C o . . . (2dpfl4,265,OOOJ
3,862,500 19,952,400
544,202
N .Y .S ta toR ys.
600 13,604,300
5.114.300
N one
7,500.000
M o h . Val. C o ..................
306,858
Also stock o f W ost Shore, N . Y . A Harlem, A c. See "S tock s P ledged”
Tho N ew Y ork State Railways C o. (see “ E lectric R ailway Section ') is
the com pany's trolloy ally, owning, controlling or leasing som o 656 miles o f
electric railway in N . Y . State. Com pare V. 100, p . 399, 475.
S T O C K .— Dividends on stock regist. In London are payable at 4 9 M d .to $ .
In July 1915 the Oregon Short Line (Union Pacific system) owned $20 ,­
000.000 N . Y . Contral stock. V. 84, p. 52, 671; V . 89, p . 411.
D IV S . 1 '96-’99. '00-’06. '07. ’08. '09. '10. ’ l l . T 2 -'1 4 . 1915.
1916.
P e r c ’ntj 4 yrly. 5 yrly. 6 5 K
5 5 K 5 M 5 yrly.
5
1M . l M . - . Durlng tho 15 years 1900 to 1914 the stockholders received regular annual
dividends o f at least 5 % . In every year since 1869 at least 4 % p . a.
C o n s o lid a tio n M ort. $167,102,400 S e cu re s W it h o u t I n cr e a s in g 'D e b t
(1) E q u a l l y b y L i e n P r i o r t o t h a t S e c u r i n g t h e D e b e n t u r e s a n d t h e 4 % b o n d s —
N . Y . C ent. 3 M % Lake Shoro coll, bonds o f 1898-1998____$90,578,400
[Holders o f about $70,000,000 o f these havo right o f ex­
change— see below.]
( b ) N . Y . C ent. 344 % M ich . C ent. coll, bonds o f 1898-1998____ 19,336.000
(2) E q u a l l y b y L i e n S u b s e q u e n t t o L i e n o f A f o r e s a i d —
(c) N . Y . C ent, debentures or 1904, due 1934.................................. $48,000,000
\d ) N . Y . C en t, debentures o f 1912. due 1942
9,188,000
( e ) 4 % Consolidation M tge. bonds dated, A ug. 1 1913 and due
F ob. 1 1998. issuable in series A , B , O and D only to refund
abovo collateral bonds and debentures, respectively, seo below.
T ho Consolidation M ortgago (securing tho collateral issuos and othor
bonds in tho ordorl ndlcatod abovo) covers b y a lion ranking ahead o f the R e­
fund. A Iinpt. M tg . (see below ), thq linos ownod hi 1913 (incl. those then
brought In by consolidation or merger). 7 5% (3,750 shares) o f the stock o f
Hudson River Bridge C o. at A lbany and the leases o f T roy A Greenbush.
N ow York A H arlem , W est Shore and Beech Creek railroads. On the main
lino between N ew York and B uffalo there Is no Hen ahead o f It except the
$100,000,000 1st M . o f 1897; and on the ra.lroads consolidated or merged in
1913, such as tho R om e W atertown A Ogdonsburg, M ohaw k A M alone.
A c ., thero are no prior Hens except tho old underlying mortgages thoreof
and tho N . Y . Contral’s $100,000,000 1st M . V . 102, p. 800, 1541.
(a )

R e fu n d in g & Im pt. M tge. fo r New C a p ita l a n d D e b t U n ific a t io n .
Tho purposo o f the Refunding and Im pt . M tge. was to provide for future
financing o f the N . Y . C ent. A H ud. R iver and tho consolidated com pany,
and for tho unification o f tho debt. Tho bonds are Issuable In series, all
due Oct. 1 2013, but bearing dato o f April 1 or O ct. 1 next preceding tho
date on which the series Is authorized, and carrying Interest at such rates,
subject to call at such dates, and prices, and with such provisions as to c o n ­
version, A c ., as shall bo fixed for successive series. V . 96, p. 1424.
T he am ount o f bonds which m ay bo issued under tho Ror. and Im p. M .
is not limited to a stated am ount, but Is determined bv standards sec up
in tho m ortgage Itself, and those standards are believed to bo such that a
bondholder will bo Indifferent as to tho amount o f bonds which m ay be
outstanding under tho m ortgage, so long as the standards are com plied
w ith. T ho am ount o f R ef. A Im pt. M . bonds outstanding cannot oxceod
three times tho amount o f the capital stock as from time to tim e Increased.




A m ount
O u ts ta n d in g

ar

C o n t r o l l e d — O p e r a t e d S e p a r a t e l y — 7,081 M i l e s o f R o a d ,
M ichigan Central*........................1,800 T oledo A Ohio Central_________ 446
Kanawha A M ichigan______ 177
N . Y . C hic. A St. Louis R R . * . . 523
90
Lake Erie A W e s t e r n * ............. 904 Zanesville A W estern__________
92
Olov. Oln. C hic. A St. L . S yst.*2,381 T oron to Hamilton A B uffalo___
Cincinnati N orthern*__________ 246
T otal oper. separately_____ 7,081
Pitts. A Lake Erie System *____ 224
Chicago Kalam azoo A Saginaw
45
D etroit A C harlevoix__________
43 Grand total Fob. 1916. leas 293
miles duplicated a b o u t ____ 12.842
Indiana Harb. Belt (V.93.P.164) 110
O R G A N IZ A T IO N .— T he N ew York Central R R . C o. was form ed by
consolidation, effective D ec. 23 1914, under laws o f N . Y ., P cn na., O h io,
In d ., M ich , and 111., o f the N . Y . Central A Hudson R ivor R R . (as enlarged
in 1913 b y the absorption o f R om o W atertown A Ogdensburg and other
N ew York branch linos; see bond table above) and Its loading W estern sub­
sidiary. the Lake Shoro A M ich . So. R y ., and 9 m inor controlled properties,
v iz ., Genova C orning A So. R R ., Term inal R y .o f B uffalo, Dunkirk A lleg.
Val. A Pitts. R R ., C h. Ind. A So. R R ., D etroit A C hicago R R ., D et. M o n ­
roe A T oled o R R .. K al. A W hite Pigeon R R ., N orth. Contra! M ich . R R .
and Swan Crook R y . o f T oled o. See consolidation plan In V . 96, p . 1425;
V . 98, p . 387, 1393; V . 100. p . 140. In A pril, M a y and June 1915 the N ow
Y ork Central R R . acquired, b y deeds o f con veyan ce, the Jam estown
Franklin A Cloarfiold R R ., Cleveland Short Lino R y ., Sturgis Goshen A
S t. Louis R y . and Elkhart A W estern R R .
S e c u r i t i e s H e l d — C o n t r o l l e d P r o p e r t i e s .— T he consolidation o f D o c. 231914
brought Into the treasury securities o f a book value o f about $218,000,000,
75% o f which Investments represented affiliated or controlled steam roads.
In a number o f cases the entire stock Issues which are not currently qu oted .
T he book valuo o f stocks which are currently quoted was In Fob. 1915 about
$100,000,000 com pared with a market value o f over $125,000,000. Incom e
during tho calendar year 1915 from the stocks then owned represented a
return o f about 4 .6 4 % on total Invest., Including Issues paying no d iv.
P a r t i a l L i s t o f S t o c k H o l d i n g s a n d D i v i d e n d s R e c e i v e d T h e r e o n f o r 1915.
----- A m o u n t s O w n e d ------------ T o t a l O u t s t : n d i n g ----- D i v s . 1915
P r e f.S t k s .

91

RAILWAY STOCKS AND BONDS

J u n e , 1916.]

Ac
Ac
Ao
Ac

4M g A

14.000.
000 5 g
18.000.
000 4 M g
11,000.000
4H g
414 g
19.200.000
N one
4M

A

O T o A pr 1927

Grand Cent T erm . N Y
do
d o and Loud
N ew Y ork

M A N N ov 1916-1922 Guaranty Trust Co, N Y
do
do
J
A J Jan 1 1917-25
Jan 1917-1927
J
A
New Y ork and London
Jan 1917-28
J A

After $500,000,000 o f the bonds shall have been Issued, not m ore than
«0 % o f tho cost o f Improvements, additions or new property can be paid
for from the proceeds o f bonds. N o t m ore than one-third o f the amount
o f bonds can bo used In the acquisition o f bonds or stocks or otner com ­
panies. A fter $500,000,000 o f bonds shall have been issued, no additlonad
bonds can be Issued without the vo te o f stockholders. Each Issue o f bonds
must receive approval o f R R commissions and P . S. Comm issions. V . 98,
p . 387, 611, 690, 1245. 1393; V . 99, p. 1052, 1131. 1367; V . 100, P -1 0 7 9 .
T he R ef. A Im pt. M . is (1) a lien next to the lien o f the Consolidation
M tge. (see abovo) on the properties, A c ., covered b y the Consolidation
M ortgage. (2) A first lien on tho l e a s e s o f tho Beech Creek Extension,
N ew Jersey Junction and W allkill Valley railroads, subject to tho ou t­
standing bonds o f each. (3) A first collateral lion on $500,000 2d M tge.
bonds o f Beech Creek R R . and $3,964,000 C onsol. M tg e . 4s o f the Beech
Creek Extension R R . com panies. (4) A first collateral lien on—
P le d g e o f S to c k o x o n e d i n — P r e f . S to c k . C o m . S tk .

P r e f. I s s 'd .

C o m .I s s ’ d .

N . Y . A Harlem R R .(p a r $50)$1.111,300 $5,069,400 $1,343,950 $8,656,050
W est Shore R R ............_ ................................. 10.000.000 ................ 10,000,000
Beech Creek Extension R R . . -------------- 5,176,000 -------------Now Jersey Junction R R ____ _________
95.000 -------------100.000
T he Refunding A Im pt. M tge. is also a Hen upon the properties described
In the supplemental indenture (dated June 15 1915), assuming, as authorized
b y the shareholders, the obligations o f the R ef. A Im pt. M tge. and extend­
ing the lien thereof over the form er Lake Shoro A M ich . So. R y ., Chicago
Ind. A So. R R ., Geneva Corning A So. R R .. Dunkirk Alleg. Val. A P itts.
R R . and all o f the other properties Included in the consolidation o f 1914,
irmer
Cleveland
Short Line R y ., —
Jam estown
and also over the form
er i___
_________________
- . ------_Franklin
___ . A
Cloarfield R R ., Sturgis Goshen A St. Louis R y . and Elkhart A W estern
R R ., acquired b y conveyances in 1915 (see “ Organization’ a b o v e ). T he
d 'b y this
Hen created
' ' supplemental m ortgage Is subject, as to parts o f the
m ortgaged ;properties, to the respective prior Hens o f the several underlying
m ortgages ithereon shown in table above.
B o n d s I s s u e d o r I s s u a b l e f o r R e tir e m e n t o f w h ich R e fu n d in g a n d I m p t . M o r tg a g e
B o n d s a r e R eserved .

1st M . o f 1897. due 1997........... ...................- ...............- - - ............ $100,000,000
Consolidation M tge. (see above) dated 1913, due 1998--------- 167,102,400
17 divisional Issues o f N . Y . Cent. A H ud. R iver R R --------------- 29,509,000
Old bonds o f Lake Shore and other cos. absorbed in 1 9 1 4 -1 5 --- 197,002,000
C o n v e r tib le 6% 2 0-Y ea r B o n d Issue o f $100,000,090 D a ted May 1 1916.
Theso bonds are convertible into stock at the rate o f $100 o f stock fo r
$105 o f bonds, between M a y 1 1917 and M a y 1 1925. T h ey m ay be called
for redem ption on any interest date at 110 and int. upon 90 days’ notice,
but, If so called, they m ay be converted Into stock up to 30 days prior to
dato o f redem ption. D enom . c* $1,000; r* $100, $500, $1,000, $ 5 .0 00 a n d
$10,000. See “ General Finances” below and V. 100. p. 556, 643, 593-4,
813, 902, 1349, 1438. 1833; V . 102, p . 1443.
O L D B O N D S OF N . Y . C E N T R A L A H U D S O N R IV E R R R .— F i r s t
m o r t g a g e is for $100,000,000, covering the original road ow ned, and. b y
supplemental deed, 930 miles o f lines (R om o W atertown A Ogdens­
burg, A c.) merged In 1913.
V. 77. p .4 5 2 ; V. 86, p. 1043, 1101: V .8 8 ,
p. 506; V . 94, p. 208; V . 96. p . 1424.
, .
T _
Collateral trust 3 M s o f 1898 were secured b y deposit o f stock o f the Lake
Shore A M ich . Sou. and M ich . Central R R s ., respectively, at the rate o f
$100 o f L . S. A M . S. stock for each $200 o f bonds and $100 o f M ich . C en t,
stock for each $115 o f bonds. T he form er (Lake Shoro collateral 3 M s ) In
so far as not exchanged for Consolidation M ortgage 4s, Series A , are a d i­
rect (third) m ortgage on the form er Lako Shore A M ich . So. R y ., D etroit
M onroe A T olodo R R ., Northern Central M ich . R R ., Kalam azoo A W hite
Pigeon R R . and Swan Creek R y. o f T oled o. See the "C onsolidation M ort­
gago” above. V . 96. p . 1424- V . 66, p. 336, 811.
,
T ho holders o f over 7 5% o f the Lako Shore colla t. bonds, who consented
to tho consolidation o f D ec 1914. had the right to exchange their 3J4%
bonds, $ for $. for Series A Consolidation M . 4s, and a largo amount o f the
bonds have been deposited for exchange. In F ob. 1916 this exchange was
p u t in effect. Seo V . 102, p . 522; V. 100, p. 656, 2085; V . 101, p. 288.
T ho N ew York Central R R . C o has duly m ade an indenture dated Jan.
15, to secure tho paym ent o f (a) the $3 M % gold bonds Lake Shore C ol­
lateral. and (6) b y secondary Hen thereunder so m any o f the 4 % Consolida­
tion M ortgago Gold B onds, Series A , as m ay be Issued to p ay and retire
an equal am ount o f 3 M % gold bonds. Lake Shoro collateral (the two Issues
aggregating $90,578,400) ,by a lien upon the railroads,A c., form erly owned b y
tho Lako Shore, and also on the property o f its four form er subsidiaries,
v iz.: D et. M on roe A T o l. R R . C o ., N or. Central M ich . R It. C o ., K al. A
W hito Pigeon R R . C o. and Swan Creek R y . o f T o l., such lien following the
lion thereon o f Lake Shore A M ich . So. 1st M . 3V$s o f 1897 and the $100,
000,000 Lake Shore debenture (now m ortgage) bonds o f 1903 and 1906.
See old Lake Shore bonds below.
L A K E S H O R E A M IC H . S O U T H E R N B O N D S .— T he N . Y . Centra
R R . b y supplemental indenture (dated Jan. 1 1915) has assumed the obliga­
tions o f the $50,000,000 3 i i % 1st M . o f 1897 (see abstract. V . 64. p. 1182.)
and extended tho lien o f that m ortgage over tho railroads, A c ., form erly
ownod b y D et. M on roe A T oled o R R . C o ., Northern Central M ich . R R .
C o .. Kal. A W hito Pigeon R R . C o. and Swan Creek R y . C o. o f T oled o, and
,t. has also executed a supplemental indenture dated Jan. 2 1915, assuming
tho obligations o f the m ortgage dated July 1 1914, securing the 25-year
4 % gold bonds o f 1903 and 1906. aggregating $100,000,000 (tw o issues,
$50,000,000 ea ch ), and extending the lien thoreof to the additional properties
named abovo In this paragraph.
G U A R A N T IE S .— Tho old N . Y . Central com pany guaranteed Western
Transit C o. 35^s for $1,000,000 due Feb. 1923: $2,500,000 Clearfield Bi­
tuminous Coal C orp. 4 M s W est Shore R R . 4s. A c. V . 93. p. 45. 164.
Additional Lako Shore guaranties not shown above, see D etroit Hillsdale
A S. W . and Ft. W ayne A Jackson.
E Q U IP M E N T B O N D S .— See " N . Y . Central Lines” below.
B . A A . equipment trust, seo V . 95, p. 1040. 1332, 1403; V . 98, p . 1072.
F IN A N C E S .— In April 1915 tho shareholders authorized tho issue o f
$100,000,000 6 % 20-year convertible bonds described in a preceding para-

92

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s . & c ., s e e n o tes o n fir s t p a g e]

New York Chicago & St Louis— Comm on stock
Second preferred stock (5% non -cura)---------First preferred (5% non-cum ulatlve)-------------First m tge gold (closed)---------------------------- Ce.xc*&r
Debenture bonds S 10,000.000 g o ld ______ U .x o’ &r*
Equipm ents o f 1916 $1,250.000_______ '------------------N Y Conn R R — 1st M g red 105 beg Aug '1 8 . Q .y .c*r*
N Y & Greenwood Lake— Prior lien M gu p & l.N .g xo*
New York & Harlem— Comm on 1 4 % , 10% guaranteed
Preferred stock 1 4 % . 10% guaranteed---------N Y Lackawanna & W estern— S-tock guar 5 % (e n d )..
First mtge guar by Del Lack & W estern-------- F.xc*
Construction mtge guar by D L & W (end) — F.xo*
Third M Term Imp (55.000,000) guar p & 1 (end) .F.J
New York Lake Erie & W estern— See Erie R R
N Y & Long Ur— Gen M (now 1st) $2,500,000 g -.C e .o '

M ile s
R oad

505 1887
1906
1913
1896
146
146
136 1900
214
214 1880
214 1883
214 1890
38 1891

Debentures 145,000,000 francs ($29,000,000)
N otos sec b y coll $25,000,000 rod lO O M bog.N ov’ 16
N Y P r i Dost gen M (now 1st) gass, $4,000,000zc&i
H ousatonlc con M ($3,000,000) g (assum ed)-F zc'
N Eng cons (now 1st) M $7,500,000 5s g g u .B a .z c'
N Y & N E Boston Term 1st M $1,500.000. AB.zc&i
New Haven & Derby consolidated m ortgage— zc*
Providence <5c Springfield 1st M gold assum ed— zc*
Danbury & Norwalk cons M (5100,000 are 6s) ..z c *
Gen mtge Danbury, Conn, to W ilson Pt, & o.zc*

D a te
B onds

—

Debentures (for F H & W) (V 78, p 2335).
Debentures (for N Y O & W) (V 80, P 245S

Pawtuxot Valley 1st M .

[Vol. 102.

RAILWAY STOCKS AND BONDS

62
87
363
14
28
36
36
36
12
61
5.60
as off.

’9 7 -’01
1904
1905
1906
1906
1907
1908
1916
1892
1887
1895
1889
1888
1892
1880
1885
1905
1904
1904
1902
1905
1905
Penn.

Par
V a lu e

A m ount
O u ts ta n d in g j

R a te

%

$100 $14,000,000!
100 11,000,000
S.OOO.OOO1
100
4 g
1,000 18,569,000!
4 g
1,000 10,000.000
(?)
4A g
1,000 &C 24,000,000'
1,471,9001
5 g
100 &o
8.656.050 See text
50
1,343,950 See text
50
3 A g
1,000 &c 12,000,000
5
100 10,000,000
6
1,000 12,000,000
5,000,000
5
1,000
6,000,000
4
1,000
2,500,000 4 g & 5
1,000
10C 157,117,900
1,000 10,000,000 3 A & 4
3A
500 &c 10,000,000
4
1.00C 15,000,000
9,765,450
3A
100 &c
15.000.000
4
4
500frs<5sc 27,985,000
$100 &c 39,029,000
6 g
1,000 &c 25,000,000 4 Mg
1.000.000
4 g
1.00C
1.000
2,839,000
5 g
1,000 17,500.000 4 g & 5 g
l.o o o
4
1,500.000
1,000
675,000
5
1,000
750,000
5 g
500,000
5 *6
1,000
150,000
5
1,000
350,000
4 g
4 g
1.000 &c 15,000,000
l.OOO&c
2,500.000
4 g
3A
234,00C
3.777.00C
4 g
l.OOC
160,00C
4
(?)
R R ., Ph 11a.

W hen
P a y a b le

A
M

&
&

O
N

L a s t D iv id e n d P la c e s W h e r e In te r e s t a n d
D iv id e n d s a r e P a y a b le
a n d M a tu rity

4% Grand Central Term , N Y
do
do
2 A
do
do
Union Trust Co, N Y
Grand Central Term N Y

1 1916 5
1 1937

F Sc A
1953
1946
M & N
See text
1916
Seo text
1916
2000
M & N
Q— J
1916 1 H
&
J
1921
J
F & A
1923
M * N May 1 1923

See a below
50 Churoh St, New Y ork
Grand Central Term , N Y
do
do
do
do
Del Lack & W estern.N Y
do
do
do
do
do
do

& s
Sept30’ 13 1 H %
M & s Moh 1 1947
A & 0 Apr 1 1954
&
J July 1 1955
J
& J Jan 1 1956
J
M & N May 1 1956
A & O
J & J15
M Sc N
A & O
M & N N ov 1 1937
&
J
J
A & O
M & N May 1 1918
J
&
J
Sc
J
J
A & O
& D June 1 1955
J
M & N May 1 1954
M & N May 1 1954
A & O O ct 1 1930
F & A Aug 11955
A & O A pr 1 1925

Liberty Nat Bank, N Y
Co’s office. New H aven
Lincoln N at Bank, N Y
Second Nat Bank, N H
Lincoln N at Bank, N Y
Second Nat Bank, N H
Lincoln Nat Bank. N Y
Paris, London, &o
Second N at B k.N ew H av
N ew Yoro and Boston
Central Trust C o , N Y
Farmers’ L & T r Co, N Y
Safe Dep & T r Co, Boston
Coup, office: reg mailed
Second N at B k , New Hav
Lincoln Nat Bank, N Y
Second N at B k, N ITavon
do
do
do
do
Lincoln N at Bank, N Y
Second N at B k, N llavon
do
do
do
do
New H aven, Conn

M

NEW YO RK CONNECTING R R.— T o own a new route for the Inter­
change of passenger and freight between the Pennsylvania and New York
Now Haven & H artford R R ., which own the entire $3,000,000 stock.
Expected to bo com pleted early in 1917.
V . 101, p. 1189.
Road
will bo abou t nine miles long, extending from connections with the L ong
Island R R . and the East R iver tunnel of the Penn. R R . near L . I. City, via
Its own bridge at Randall’s Island, to Port Morris, N . Y . (V .9 7 , p. 1504.)
O f tho 1st M . gold ‘l ' A s ($30,000,000 auth. issue), $16,000,000 woro sold,
guaranteed, principal and in t., join tly and severally b y tho Pennsylvania
R R . and N . Y . N ow Haven & H artford R R .; in M a y 1916 an additional
$8,000,000 bonds woro issuod making $24,000,000 outstanding. V . 102,
p . 1718, 1989.(V . 101. p. 1180: V. 102, p. 1436, 1718, 1987.)
NEW YO RK & dR EE N W O OD L A KE RY. — [ S e e M a p o f E r i e R R . ) —
Owns from Croxton Jet., N. J ., to Sterling Forest, 42 m ., and branches to
R lngw ood, &o., 8 m .; W atchung R y ., Forest Hill to Orange, N. J ., 4 m ;
total owned, 54 m. Stock, $100,000: par, $50. Leased to Eric R R . for
999 years from May 1 1896. Prior lien bonds are guaranteed, prln. and Int.,
b y 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 . & H u d . R t v . R R . ) —
Owns steam road N. Y . City to Chatham, N. Y .. 136 m . A lso owns street
railroad on F o u r th * Madison avenues. N .Y .C ltv , 10m. Assets. V . 95, p .4 7 .
The N . Y . Central R R . had on Juno 1 1917 acquired $6,388,650 o f the
$10,000,000 stock at 350% (or $175 per share). V. 94. p. 208. 768: V. 93.
p . 1788, 1600, 1696; V. 94, p . 1057: V . 98. p . 1157: V . 99, p . 1749. Decision
G ross.
N e t a f t . T a x . O th er I n c . F ix e d C h g s .
D a l., S u r p .
Fob. 1915, V. 100, p . 398. 734.
The steam road (since partly elcotrlfled) was leased April 1 1873 for 401
1916_______ $63,076,789 $18,557,062 $5,900,408 $13,770,781 $10,686,689
years to the N. Y . Cent. & Hudson R . R R . Co. for Interest on the bonds and
1915_______ 48,566,478
9,768.170 5,370,878 13.103,106
2,035,942
dividends o f 8 % (this being Increased to 10% by a supplem entary agree­
R E P O R T S .— For year ending Dec. 31 1915, V. 102, p. 1430. 1443.
- B o s t o n & A l b a n y R R .—• ment) per annum, payable J. Sc J. on the entire capital stock.
- N . Y . C en tra l R R .
The street railway was leased July 1 1896 for 999 years to the Metro­
1914.
1915.
1914.
1915.
$
■”*' politan St. R y . (now N. Y . Railways Co.) at $350,000 for the first 5 years
$
S
$
17,695,865 16,491,441 and $400,000 annual rental thereafter: this Is distributed as a d lv. on the
Operating revenues___ 167,912,333 152,351,590
Operating expenses____109,394,345 113,348,423
11,967,300 12,311.150 stock ,p a ya b le 2 % In April and 2 % In O ct. V .9 4 ,p .l 2 4 .— (V . 1 0 0 ,p.734.)
NEW YORK LA CK AW A N NA & WESTERN R Y .— Binghamton to B uf­
4.180,297
N et oper. rev en u e.. . 58,517,989 39,003,167
5,728,565
762,510
749,273 falo and Internat. Bridge and branches, 214 m ., of which the main line, 213
A ccrued taxes, & c____
8,337,531
8,074,099
.. Is double track: D. L . & W . has a lease for duration of charter from Oot.
4,966,055
3,431,018 m
. 50,180,458 30,929,068
1882, giving a guaranty o f tho bonds and 5% yearly on the stock. See form
257,087
253,264 of
. 16,628,871 14,735,865
guaranty of terminal bonds In V . 67. p. 1357; see also V . 68, p. 283.
3,684,282
66,809,329 45.664,933
5,223,142
YO RK & LONO BRANCH R R.— Perth A m b oy to Bay Head, N. .
4,618.985 38 NEW
. 39,097,855 36,306.685
4,441.801
miles. Operated under an agreement made In 1888 for a period of 99
N et incom e........... sur.27,711,474sur.9,358.2 18 sur.781,341 def.934,703
years with Penn. R R . and Cent. R R . of N. J ., which Jointly and severally
N o t e .— Tho comparisons indicated above for the N . Y . Central R R . C o.
guarantee Interest and 7% on the $2,000,000 stook, all owned b y Central
aro with tho results o f operation o f tho Now York Central & Hudson Rivor R R . of N . J. Of the bonds $192,000 aro 5s.— (V. 72. p. 438.)
R R . and Dunkirk Allegheny Valley & Pittsburgh R R . for tho year ended
NEW YORK NEW HAVEN & HARTFORD R R. — Covers Southern New
D oc. 31 1914, com bined for such purposes only.
cssi
England and the only direct routes between New York and B oston.
T otal all lines calendar year 1915—
G ross.
N et.
L e a s e d ( p a r t o w n e d )—
M ile s .
L in e s o w n ed in F ee—
M ile s .
$101,383,120
1915.......................................................................... $303,158,321
Old C olony R R . (which seo)___ 532
W oodlawn Jet. N . Y ., to P rovi­
1914........................................................................... 275,881,104
67,223.777
L in e s L ea sed —
dence, R . 1.....................................173
Pres., A . H. Smith; Chairman, Chauncey M . Dopew; Vice-Presidents, B oston, M ass., to Hopewell Jet.,
Providence and W orcester_____
48
John Carstonsen, Chas. F. D aly. Ira A . Place, W m . IC. Vanderbilt Jr.,
71
N . Y ...............
213 N orw . Sc W orcester (which see)
A . T . Hardin, A . H . Harris, John J. Bernot and It. M . Biscoo: Treas., N ew H aven, C on n ., to Spring­
Other linos_____________________ 109
E . L . Rossiter; Sec.. Dwight W . Pardee. Directors (Jan. 26 1916), W m .
field, M ass.....................................120 Track to N ew York C ity , S e e .
K . Vanderbilt, F. W . Vanderbilt, C . M . Dopew , Harold S. Vandorbilt, Linos to Pittsfield, Litchfield,
(V . 88. p. 5 3 ).............................
51
W illiam Rockefeller, W illiam H. N ewm an, M arvin H ughitt, A . H . Smith,
Springfield, See________________ 687
G oo. F . Baker, Horace E . Androws, W . IC. Vandorbilt Jr., Ogdon M ills,
Total operated July 1915 (128 m. has four and 835 m . tw o tracks) ..2 ,0 0 5
R obert S. Lovett, Leonard J. Hackney, and Frank J. Jerom o.— (V . 102,
T he N ow York division to New lla v o n . C on n ., 73 miles, was placed In
p . 437, 522, 713, 800, 1430. 1443, 1541, _1626, J .987.)
4
partial operation July 10 1914, but authorized to be Increased In S oot. 1014
N EW Y O R K C E N T R A L LIN ES.— The N . Y . Central Lines equip, to a 70% basis. V . 94, p. 68, 138-1: V . 96. p. 63: V . 97, p . 237; V . 98. p .
trusts cover engines, passenger cars and freight cars used by various linos
1239; V . 99, p . 49. 343. 817.
o f the system , which join tly and severally agree to pay prin. and Int.. the
In Oot. 1904 $29,160,000 of the $58,118,982 N . Y . Ont. & W ost. oom .
largor part being for N . Y . Central. In 1916 sought permission from stook was acquired at $45 p er $100 share and $2,200 of tho $4,000 p ref.
Ohio P. S. Com m , to Issuo a further $11,730,000 4 M % oqulpmont bonds.
V. 95, p . 481: V . 79. p . 2086, 2642: V. 80. p. 1363; V . 95, p. 1427.
On May 9 1912 permission was obtained to purchase from the New York
(V . 102, p. 345.— V. 99, p. 1598.)
Central the remaining one-half ($2,352,052) of Its m ajority holding of
NEW YO RK CHICAGO & ST. LOUIS R R.— (See M a p o f N e w Y o r k
$4,704,100 pref. stock of the Rutland R R ., the other ono-half having been
C e n t r a l A H u d s o n R i v e r .)— Owns from Buffalo, N. Y ., to Illinois State Line,
except 8 m. leased bet. Dunkirk and Silver Creek, leaving 495 m .; leases the acquired b y the N ow llav on road In F ob. 1911. Doclslon dismissing suit
proprietary line, Chic. & State Line R R ., III. State line to Grand Crossing, to provent this purchaso was uphold on D oc. 7 1915 by N . Y . Court o f
10 m .: also leases Dunkirk to Silver Creek, 8 m .: total, 513 m .: trackage In Appoals, but tho purchaser, it is statod, stands ready to disposo o f its inter­
est. V . 93, p. 1600. 1788; V . 94. p. 1317: V. 95, p . 1608; V. IQ1. p. 1974.
Buffalo, N. Y ., 2 m ., and Gr. Crossing, Chic., III. (Lake Sh. R R .). 8 m.
Decision in suit against form er directors, V. 102, p. 251, 1347. In Hillard
S T O C K .— New Y ork Central Railroad C o. owns $6,240,000 com m on. settlement in Feb. 1916 com pany recolvod $1,250,000 cash. V. 102, p. 886.
$6,275,000 2d preferred and $2,503,000 1st preferred stock. After 5%
Owns greater part of stock o f Central New England R y . (which seo) and
dividends on the $14,000,000 com m on stock, all classes of stock share alike
guarantees $13,427,000 gen 4s. V. 92, p. 1179, 1375, 1436: V . 93, p. 866.
D 1V S. (Since 1907) [1908. 1909. 1910 t o 1912. 1913. 1914. 1915. 1916.
Penn. R R . on D ec. 3111915 owned $5,312,500 stock and N ow Y ork Oont.
5 yearly.
First p referred ____
5
5
5
2 ' A N ono Alar. 5
& II. R . R R . C o .. $1,545,600. V . 90. p. 1425.
Second preferred . .
5 yearly.
5
5
5
2 A N ono
Owns practically all the stock of the N . Y . Westchester & Boston, 177th
C o m m o n __________
N ono N ono
3 yearly.
N ono N ono
4
St., N. Y . C ., and Mt. Vernon, &o.; total trackage, 74.57 miles, of which
50.57 held In fee and 24 m . under perpetual trackage rights. See bond of­
B O N D S .— First m tge. abstract, V . 45, p. 541. Tho debenture 4s will
fering. S e c ., V. 93, p. 346. 866: V. 94. p. 1508, 1627: V. 95. p . 48. 298, 964,
be secured b y any now m tge. V . 82, p. 693; V . 86, p. 1314: V. 88, p . 1062.
10-10,' 1208, 1746: V . 100, p. 643, 1919. Seo also "E loctric Railway Sec­
MlE A R N IN G S .— 1 m onths ended A pr. 30:
tion’* and V . 99. p . 1209.
G ross.
N et.
O th er I n c . F ix e d C h g e s .
B a la n ce.
S e g r e g a t i o n .— T ho stockholders on April 21 1914 approved an agreement
$1,225,475
$76,513
$609,022 sur.$692,966
1916........ $5,019,032
which had been reached with tho Governm ent for a surrender to Inde­
1915------- 3,700,427
322,111
87,254
744,236 dof.334,871
In Juno 1916 had obtained permission to issuo $1,250,000 equip, trusts pendent control o f certain parts o f the system so as to prevent a suit undor
tho anti-trust law as follows: (1) T ho Boston ItR . H olding C o . stock own­
In connection with purchase o f 1,000 underframe steel cars. V . 102, p.1541.
** R E P O R T .— R eport for 1915 was in V . 102, p. 1806. Principally a freight ing 52% o f the stock o f tho Boston & M aine R R . has boon transferred to
5 trustees, viz.: M arcus P . Knowlton and James L . D ohorty o f Springfield,
lino.
f
Mass.; James L. Richards and Charles P. Hall o f B oston, and Frank P,
Y e a r e n d i n g D e c . 31—
1915.
1914.
1913.
Carpenter o f M anchester, N . II., and, after arrangements havo been mado
Railroad revenues....................................$12,536,380 $11,294,971 $12,393,873
to protect the minority stock o f tho holding com pany, thoy shall sell tho
Operating incom o___________________ $2,744,788 $1,496,036 $2,215,245
2 2 9 .9 4 1 .
Othor incom e.
I 12.192
224.943 Boston & M aine stock prior to Jan. 1 1917. V. 99, p. 1221. As to plan
f Feb. 1916 for reorganizing tho Boston * M aine, soo that com pany anil
* ’ Gross corporate incom o___________ 8 2 , 9 7 4 .7 3 2 $1,608,229 $2,440,188 oV.
102, p. 711. Recom mendations o f M ass. P. S. Commission In Fob.
Interest on b on d s___________________ $1,146,537 $1,150,730 $1,154,868
1916 and Pres. E lliott’s reply, seo V. 102, p. 800, 1897.
Hiro o f equipment, other rents, & c._
1,017,620
740,663
457,746
(2) Tho stocks o f tho com panies which control tho Connecticut and
D ividend on first preferred ( 5 % ) ____
250,000
250.000
Rhode Island trolleys havo been placed In tho hands o f trustees— 5 for each
D ividend on second preferred ________
550.000 State— and shall bo sold within 5 years from July 1 1914 V. 99. p. 1452.
Balance, surplus or d eficit_______ sur.$500,575def.$283,164 sur.$27,574
(3) The m ajority stock o f tho Merchants’ * M iners’ Transportation C o .
P res., W m . H. C anniff.— (V . 102, p. 609, 1347, 1541, 1806.)
held b y the Now Haven R R ., which has beon sold. V. 98, p. 1320, 1396.

graph. These bonds have all boon issuod. T h ey woro offered at par to
shareholders o f record April 1. The proceeds will bo used to retire an equal
am ount o f obligations maturing during 1915, and tho intecost on the
bonds will be substantially tho same as that heretofore paid on tho note*.
All unfunded debt maturing in 1915 will bo provided for by this issue
except less than $22,000,000, against which is held $19,000,000 o f quick
notes o f other com panies. During 1916. 1917, 1918 and 1919 the total ma­
turing debt, funded and unfundod, is loss than $11,000,000. ’lh ese
amounts d o not include current equip, trust paym ents. V. 100. p. 556.
1349, 1438. 1510: V. 101, p. 694. Agreement as to W est Sido im prove­
ments in N . Y . C ity, and favorable decision in Venner litigation, see
V. 102, p. 437, 522, 1626.
,
, ,
T he extent to which the capacity o f tho proporty has been increased Is
Indicated In tho following com parison o f gross revenue from the com bined
rail operations of the oompanies m entioned, viz.: 1903, $112,679,000: 1908,
$131,745,000; 1913, $179,689,000. During tho 15 years, 1900 to 1914. the
valuo o f tho equity behind the bond issues was increased by about $167,­
000,000, partly through tho sale o f $123,000,000 stock at an average price
o f 103.6 and partly through earnings invested in tho property, but not
capitalized. For resume o f im provem ents, & c., since 1910, see V. 100,p.556.
In 1915 the I. S. Com m erce Commission ordered the com pany to sell
the Western Transit C o. and also to disassociate itself from the M utual and
Rutland Transit com panies. V. 100, p. 1752: V. 101, p. 1886.
E A R N IN G S .— 4 m onths ondod April 30:




June . 101G.J

93

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
(F o r a b b r e v ia tio n s , A c . , se e n o tes o n fir s t p a g e ]

M iles
R oad

D a te
B onds

Par
V a lu e

A m oun t
O u ts ta n d in g

R a te

%

W hen
P a y a b le

L a st D iv id e n d
a n d M a tu rity

New York New Haven & Hartford (C oncluded)—
J & D June 1 1956
1906
4
$2,400,000
N H & Northampton ret M $10,000,000 guar p & l_x
M & S Mch 1 1956
4 g
1906 I1.000&C
4.000. 000
Providence Term 1st M $7,500,000 g assum-.xc’ &r
See text
Consolidated Ry debentures-----------------------------M & N May 1 1957
1907
4 g
1,000 19,899,000
Prov See Co deb $10,011,000 g gu red 105 beg’ 17.xc*
7.278.000 4. 4 H . 6 Various 1916 to 1956
Bds of eleo roads. See toxt below & "Electric Ry. Scctlo n”p.72
5
1915-1929
2.490.000
Equipment trusts, due part yearly_____ - - - - - — F
M & N To Nov 1924
6 g
1914
824.000
1,000
do
do sor AA duo $48 or $49,000 s-a-_c*
J & D 1916 to 1925
4 X
1915
2.402.000
Equipment trust______________________________
B onds o f Lead in g P r o p rie ta ry , A c , L in e s

1.000
10 1911
Holyoke & Westfield 1st M (V 02. P 322. 795) gu.o*
Engla nd Ry—
Boston RR Holding Co—Boston Term Co—Central Now
Now York Connecting RR and Old Colony—See th ose co mpanl '
1,000
51 1897
Providence & Worcester (lrst mortgage currency—
100
Now Eng Invest & Sec prof cum 4% guar----------1909
do
do
Funding gold notes_____________
$ & £
1911
N Y Wes & Bos 1st M $60,000,000 g red 110dxc*&r*
1905
New England Navigation Co debentures g o ld ----- x
do
do
do _____________________- - 1,000
i§ i4
Notes secured by coll rod 101H ___________ OB
100
Springfield Ry 4% cum pref stock red 105 guar----New York & Sortliern—See N Y Cent RR.
100
New York Ontario & Western—Common stock 1,000
Refunding (first) mtge $20,000,(KX) goId-.Ba.xo'&r Text 1892
1,000
1905
Gen M $12,000,000 gold red 110 (see text) --NxoV5ci
1,000
1910
Equip notes “ A” due $36,000 s-a (V 90, p 977) - Baz
1,000
1913
Equip notes Ser O $30,(K)0 s-a (V 96,p 420 --Baz
1,000
1916
Equipment notes Sorios "D ” duo $35,000 s-a-------New York & Ottawa—See N Y Central RR.
50
New York Phlla & Norfolk—Stock. $4,000.000------- 1,000
112 1899
First mtge $3,000,000 g (V 68. p 773, 978) --FP.xc*
1,000
112 1899
Income mtge g non-cum regls (V 68. p 978) _ -- FPx
RR,
New York & Putnam—See New York Central
1,000
1887
N Y & Rockaway Beach— 1st M $1,000,000 g gu.Ce.c*
1,000
1887
Second mtge Income bonds non-cumulatlve— Cc.zr

NEW Y O R K NEW HAVEN & HARTFORD ( C o n c l u d e d ) —
(4) The minority stock of the Eastern Steamship Corporation, held by
the New Haven R R ., shall be sold within 3 years from July 1 1914, and In
the meantime shall bo doprivod of voting power. A receiver was appointed
Nov. 7 1914. V. 99. p. 1369, 1454.
(5) Whether tho Long Island Sound steamboat lines may bo retained
will bo determined by I.-S. C . Commission under Panama Canal Act.
(6) Tho Berkshire trolleys shall bo sold within 5 years from July 1 1914.

( 7 ) Tho stocks o f companies owning or controlling streot railways In
bo sold by July 1 1919. V . 8 9 ,p . 1000.
1072, 1157,
1239, 1245;
N. Y .shall
......................................................................
. .......
.................
.......

v . 99,

p

._____
467.■270.
120, 1131,. 1221;
■ ■ 198,.
■
m

V ._____
100,, p______
. 642

A
4 H
196.000
See thoso co mpanles

&

A
J

&
&

4
1.500.000
4.000.
0004
5.000. 000 4 to 5
4H g
See toxt.
4 g
3.600.000
4
675.000
20,000,000
6
4
3,387.950
58,113,982
20,000,000
8.630.000
288.000
720.000
490.000

J
M
J
M
J

Second Nat Bk, N Haven
do
do
Equitable Trust Co, N Y
Phlla Tr S D & Ins Co
Phlla Commercial Trust
Treasurer, N Haven.Con

O Oct 1 1947
R I Hosp & Tr Co, Prov
J Jan 1916,
2%
Apr 11924
& J July 1 1946
New York & London
&M13 Nov 13 1955
& J Jan 1 1955
&
N M ay 1 1917
& J Jan 1916.
2%

M &
J &
A & O
M A S
A & O

Aug 4 1913 ,2 % Checks mailed
Office, Gr Cent Ter, N Y
June 1 1992
do
do
June 1 1955
To April 1 1920 Bankers Trust Co, N Y
do
do
To Mch 1928
do
do
Apr 1 1923
M ay 291916 6 % Checks mailed
Broad Street Station
Jan 1 1939
Checks mailed (see text)
Jan 1 1939 .

2.500.000 12 In ’ 15
4 g
2.600.000
1.000.
0004
984.000
5 g
978.000 Up to 5

O Apr 1 1951

P la c e s W h e r e In te r e s t a n d
D iv id e n d s a re P a y a b le

M & S Sept 1 1927
5 In 1914 Sept 1 1927

U S Mtge & Tr Co. N Y
Broad St Station, Phlla

Y e a r e n d i n g J u n e 30—
1914-15.
1913-14.
1912-13.
N ot earnings.............................................$21,252,640 $18,219,682 $21,386,164
______
______
645.447
N ot outside operations_______________
D ividends and Interest received_____
1.629,785
2,815.249
6,728,860
Other Incom e, rents, & c_____________
4,226.4.59
5.015,260
3,334.924
T otal net Incom e................................. S 7,108,884 $26,050,091 $32,095,395
Interest on bonds, & c............................. $11,180,323 $11,917,056 $11,029,128
Rentals o f loosed lines................ , ____
6,228,999
6,032.960
4,545.793
Taxes, & c................................................... 2,751,751
3,578,444
3,714,755
Other rents and guaranteed dividends 4,526.660
3,991,894 3.629.639
M iscella n eou s-----------113,180
261,074
253,898
D ividends .................................................
............(1 14)2356769 13,486.563
Balance, sur. or d e f.........................sur$2,307,971df$2,088,106df$4,504,325
Com parative figures for 1912-13 are somewhat inaccurate.
O F F IC E R S .— P res., Howard E lliott, N ew H aven; S e c., A rthur E .
Clark; T reas., Augustus S. M a y , N ew H aven, C onn. (V . 101, p . 1629.)
D i r e c t o r s . — Howard Elliott (Chairm an), Boston; John T . Pratt and
J . H orace H arding, N . Y .; W . M urray Crane, D alton, M ass.; James L . R ich­
ards, Joseph B . Russell, B oston, M ass.; T .D e W itt C uyler, Phlla.. P a .; Ar­
thur T . H a d ley, F red k. F .B rew ster,Ben j .C am pbell, Ell W h itn ey, Augustus 8 .
M a y , Now H aven; Henry K . M cIIa rg, S tam ford,C onn.; F rancIsT . M axw ell.
R ockville, C onn.; Edward M illigan, H artford, C onn.: Frank W . M atteson,
Providence, II. I .; Harris W hittem oro, N augatuck, C on n .— (V . 101, p . 67,
251. 345, 609, 800, 886, 976, 1347, 1436, 1541, 1896.)
NEW YO RK ONTARIO & WESTERN R Y — Operates from W echawken.
opposlto N . Y . City, to Oswego, on Lake Ontario, In all 568 miles, viz.:
Road Owned—
Miles.
R o a d C o n t r o l l e d , A c .—
M ile s
Oswego to Cornwall,N. Y _______ 272 Pecksport, Conn, (leased)_______
4
Branch to New B erlin____________22 Ont. Carb. & S. (leased) Cadosla,
do
to D elh i.............................. 17
N. Y ., to Scranton, Pa, &c____ 74
do
to E lle n v llle ____________ 8 Rome & Clinton (leased)________*13
Utica Clinton & Bing, (leased) ..* 3 1
T otal o w n ed _______________
319 Wharton Valley (owned).............. 7
Ellenvllle & Kingston (leased)___27
T r a c k a g e t m 2079) W .Shore R R .
C’nwall to W ’ken (V.61,p.425) - 55 Port Jervis Mont. & Summltvllle
__
• See this com pany.
(owned and le a se d )........... ........ 38
C O N T R O L .— In O ct. 1904 N . Y . N. H . & H. R R . acquired $29,160,000
com . stock at $45 per share and $2,200 o f the $4,000 pref. V . 95, p . 481,
V . 79. p . 2086, 2643; V . 80. p. 1363. 2458; V . 81. p . 1044; V . 97. p. 1427,
ST O C K .— There Is $4,000 old preferred. V. 79, p. 977, 980. 1332.
D IV ID E N D S .— On com m on s t o c k ,1905. 4 H % : 1906 to 1911. 2 % each;
1912. none; 1913, 2 % ; 1914 and 1915. none. V . 98. p. 1993; V . 101. p. 48.
BON DS, &C.— Refunding mtge. for $20,000,000 covers 319 miles of road
owned, all the securities o f the Ont. Carb. & Scran. R y ., 54 miles, and all
after-acquired property. V 72, p. 87; V . 78, p 2012; V. 80, p. 651. Of
the $12,000,000 gen. M . 4s o f 1904 $6,650,000 were Issued and In Feb. 1913
permission given to Issue $1,980,000 additional. V . 79, p . 1332, 1462.
V . 92, p. 462; V . 94, p . 1508; V . 96, p . 420, 653.
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) w erepurchased b y the Scranton Coal C o., aided
by loans from the N. Y. O. & w .. the latter Issuing Its $2,500,000 5 % notes
(final Installment paid Feb. 1911), and loaning $1,475,000 (of which
$305,000 has been repaid), the O. & W . obtaining contract for entire ton­
nage
V. 68. d . 41. 429; V . 69. d . 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 by the Coal & Iron C o.’s 1st m tge., these notes maturing $75,000
each 6 m os.. beginning June 1 1901, to June 1 1911. and thereafter $200,000
sem i-annually to D ec. 1 1915, when final installment was paid. V . 71, p.
1270; V. 73, p. 501.
E A R N IN G S .— F or ton m onths ending A pril 30:
T en M o n th s—
G ross.
N et.
C h a rges.
B a l.,S u r .
1915-16....................................$7,494,022 $2,001,673 $1,231,351 $77