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OP
THE
(Commercial & Financial (Chronicle.
[Entered according to
act of
Congress, In the year 1883, by Wm. B. Dana & Co., in the office
NEW
INVESTORS’
Congress, Washington, D. C.l
YORK, JUNE 26, 1880.
SUPPLEMENT
OP
of the Librarian of
THS
word, the Pennsylvania Railroad covers the whole terri¬
tory from the Mississippi River eastward to Buffalo, north
a
of the Ohio and Potomac
(pSmmcrml # jfmanral i£ljronttlc.
Tlic Supplement contains a
complete exhibit of the Funded Debt of
States and Cities, and of the Stocks and Bonds of
Railroads and other
Companies.
It is
published
the
last Saturday of every other
month—viz., February, April, June, August, October and December.
on
It is furnished without extra
the Chronicle.
Single copies
WIIjIilAOT
charge to all regular subscribers
are sold at
B,
of
$2 per copy.
DANA
79 <6 81
&
CO.,
Rivers, and with termini at the
above named. The policy indicated
by Col. Scott would seem to be* unquestionably the
only true policy for the company to pursue, and
in confirmation of this
theory of action we have the recent
report that a syndicate has been formed to buy all the
Pennsylvania Railroad interest in the Richmond & Danville
and connecting roads south of
Richmond, which would
leave the Pennsylvania with
very small interests south of
three Atlantic ports
Publisher*,
William Street.
the Potomac River.
In financial
PENNSYLVANIA RAILROAD COMPANY.
The present situation of this
great corporation is one of
much interest. The president, Mr. Thomas A.
Scott, who
has been identified with the
extraordinary growth of the
company and who has generally been held responsible,
whether justly or not, for its
policy, has lately resigned his
position, and it has became a question of much importance
as to what
policy will be adopted in the future management
of the
company.
Col. Scott maintains that the
plan adopted in
control of all the various lines east and west of
.
-
position, the Pennsylvania Railroad stands
alone in the immense amount of stocks and bonds of other
companies held among its assets, and the changes in these
securities from year to year should be
carefully observed.
Some $50,000,000 of these
securities, held at the time the
consolidated mortgage was made, were
pledged as security
for that mortgage,and when sold the
proceeds must be applied
to improving the
property covered by that mortgage, or to
the acquisition of new
property, or retiring bonds. Out of
the sale of its various securities the
company expects to
realize enough to make its current
improvements on a
obtaining
Pittsburg, large scale—the estimate for such improvements for 1880
vindicated in the calling for no less than four and a half millions of dollars.
wise one, and that it has been
results.
But as to this, the
opinion of other railroad
was
a
men The total par value of the stocks and bonds
owned on
might be, that the plan of controlling connecting lines of December 31,
1879, was $100,143,984 and the cost, as per
railroad necessary to the successful
working of the Penn¬ general account, $65,481,682 ; the total cash receipts from
sylvania main line, was not in itself a bad one, but that it interest and dividends on these in 1879 was
$2,110,933.
was carried into execution with
almost reckless extrava¬ A full list of the stocks and bonds owned is
printed below,,
gance.
Two or three lines of road competing for the same
showing every change made during the year 1879.
business were in some cases leased, and
The actual net income of the
frequently at fixed
Pennsylvania Railroad
rentals far above their
earning capacity. In fact, nearly Company over interest and all liabilities in 1879 was
all the leases made to the
Pennsylvania Railroad were at $5,496,350, out of which $600,000 was paid for the pur¬
extravagant figures. An agreement to pay over to the chase of securities of leased roads.
In five months of
lessor company its total net
1880
the increase in net
earnings, whatever they might
earnings on lines east of Pittsburg,
be, would have been a basis of negotiation, which would and Erie is $1,837,301
or at the rate of $4,409,520
generally have been fairer to both parties, and would not increase in the year 1,880, if the same rate could be main¬
have involved the Pennsylvania Railroad with such a bur¬ tained.
This is anot to be expected,
however, and if the
den of obligations to its leased
lines, that its own stockholders increase in 1880 should be only $3,000,000 it would
give
should be obliged to go for a
long time without dividends. a total net income for the year of about $8,500,000, or
But as to the future, what
plan will the company adopt? upwards of 12 per cent on the capital stock,
rtlAre new lines to be leased covering new
The Pennsylvania Railroad is
territory, and
plainly in a very strong
further
expansion to be the principle of action ? Colonel
Scott, in an interview with a reporter, said quite
positively that the Pennsylvania Railroad had cov¬
ered all
the ground intended, and had now
only
do perfect its
present lines and terminal facilities.
The company now has its net work of eastern
lines trib¬
utary to the main roads from Pittsburg to Philadelphia,
New York; Baltimore and
Washington ; and west of
its
Pittsburg
lines, and duplicate lines, to Cincinnati,
Louisville, St. Louis, Chicago, Cleveland and Buffalo. In
position, where only bad management, or a new de¬
parture to the policy of expansion can injure it. No cor¬
poration was so greatly benefited by the revival of pros¬
perity in 1879-80, and the actual increase in the mar¬
ket value of its stock and bond assets
may, perhaps,
reckoned at not less than $20,000,000.
The plan
be
of
buying up the company’s guaranteed securities has been
fully inaugurated, and up to January 1, 1880, $700,000 in
cash had already been invested in the
purchase of those
securities, and if the original plan is carried out a 4 per
[Vol. xxx.
INVESTORS’ SUPPLEMENT.
2
scrip is to be issued to
money thus expended.
cent
WST OF
BONDS OWNED BY
stockholders to represent the
THE PENNSYLVANIA
DECEMBER
RAILROAD COMPANY,
31, 1879.
of Security.
Alex. & Fredericksburg RR., 1st mort., 7s
Allegheny Val. RR. funded debt mort., 7s
Am. Bott’m Mar., Lime & C. Co., 1st M., 7s
Bald Eagle Valley RR., 2d mort., 7e
Balt. & Potomac RR., 2d mort., income>6s
Bedford & Bridgeport RR., 1st mort., 7s..
Bell’s Gap RR., 1st mort., 7S
Belv. Del. RR., consol, mort., 7s
Name
Par
Increase or
Value,
decrease in 1879.
$999,000
3,963,000
150,000
100,000
2,000,000
1,000,000
15,000
1,200,000
Burl. Co. RR., 1st M.(Vinc.Br.),6s,overdue.
15,000
300,000
Central Stock Yard & Transit Co., 7s
Cincinnati & Muskingum Val. RR., 7s ....
752,000
110,000
Cincinnati Street Connection RR., 6s
Columbia & Port Deposit RR.,lst M., 7s...
1,822,000
Col. Chic. & I. Cent. RR., $5,000,000 loan,7s.
1,258,000
3,504,000
Col. Chic. & I. C. RR., $10,000,000 loan, 7s.
County of Clark, “ Illinois,” 8s
15,000
Cleve. & Pitts. RR. Construe. & Equip., 7s.
255,000
City of Philadelphia. 6 per cent loan
2,500
E. Brandy wine&Waynesb’g, 1st M., 7s...
E. Brandywine & Wayne8b’g,N.H.Ext.,7s.
Erie & Pittsburg RR. Equip., 7s
115,000
Dec.
52,400
1,561,000
282,800
805,000
723,000
M.. 6s, gold.
Richmond &Danv. RR.. 1st M., 6s
Shamokin Valley & Pottsv. RR.,IstM.,7s
Southwest Pennsylvania Ry., 1st M., 1...
Dec.
77,000
Dec.
1,899,000
Inc.
222,000
Dec.
Inc.
Inc.
6,834
643,000
170,000
Dec.
Dec.
600,000
3,077,000
Pennsylvania RR., 1st M., 6s
Pennsylvania RR., Gen.M.,7s...
Western Pennsylvania RR. Branch, 6s....
Western
Western
Inc.
105,800
Dec.
95,000
THE
td’g.
<**<$
20,000
226,000
Dec.
Dec.
50,000
Dec.
$5,161,580
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900,000
184,100
3,042,600
00
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Brandywine & Waynesburg Railroad
Frederick & Pennsylvania Line RR.. pref.
Germant’n & Chestnut Hill RR., lstinstal.
Jefferson Madison & Indianapolis Railroad
Junction Railroad
East
Keystone Hotel Co
Dewisburg Centre & Spruce Creek Railroad
Dewisburg & Tyrone Railroad
Lewistown & Tuscarora Bridge Co
little Miami Railroad
lock Haven & Clearfield RR., 1st instalm’t
louisville Bridge Co
Mineral RR. & Mining Co., 1st instalment.
N. J. Wareh’se & Guar’tee Co., 1st instalm’t
Newport & Cincinnati Bridge Co., pref.. ..
Northern Central Railway
Northwestern Ohio Railway
Pennsylvania Canal Co
Pennsylvania Co., pref
com
Pennsylvania Railroad
Pennsylvania Steel Co
Philadelphia & Erie Railroad, com
Do
do
pref
Philadelphia & Merion RR., 1st instalm’t..
Philadelphia & S’thern Mail Steamship Co.
Pittsburg Cin. & St. Louis Railway, pref...
Pittsburg Ft. Wayne& Chic. Ry.,spec’l guar.
PittsburgVirgnia & Charleston Railroad.
Co
Railway Car Trust of Pennsylvania
Railway Equipm’t Trust of Pennsylvania..
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132,150
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8,000,000
2,995,000 Inc.
2,957,450
735,100
1,581,800
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,
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20,000
Dec.
Inc.
675,000
96,000
Dec.
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1879 was much the largest
contributed to the product,,
and all except New York, Kentucky and Illinois increased
their yield over 1878. . The following table of production:
by States is interesting, as showing the distribution, an
the changes in that distribution, of this great industry.
The
ever
2,400,000
to
CO
©
366,750
©
©
©
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461,000
49,500
25,000
OO
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05
1,060
424^400 Inc.
25,000
901,300
33,334 Inc.
12,500
805,000
2,421,000
1,600,000 Dec.
Cl
CO
50
to
C5
The,
Inc
M
to
-t
200
Dec.
1.350
1,050,000 Inc.
180
Inc. 1,050,000
1,000
b
15,000
100,000
1,250
10,000
3,000,000
707,400
405,000
96,000
CD
to
3,000
33,300
326,350
1,100,000
237,200
975,800
603,600
519,550
900
461,000
49,500
1,921,700
76,450
05
©
15,000 Dec.
Railroad
to
*
to
$1,250,000
-
2*
to
Par value, dccr'se in 1879.
Railroad
b
©
©
31, 1879.
Connecting Railway
Cresson Springs Co
Cumberland Valley Railroad, pref
Do
com
do
INDUSTRY,.
W
O
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oo o
O'OQK}
73
o
O
100
Inc.
to
o
1,000
Inc
10,000
288,000
Camden & Phila. Steamb’t Ferry Co
Chartiers Railway
Clevel’d Mt. Vernon & Del. RR., com
Pullman Palace Car
$44,167,800
55,976,184
bonds
stocks
w
<~i
Pi
1,200,000
Bell’s Gap Railroad
Car Trust of Pennsylvania
Do
1,059,700
only from its great importance, as
P
PENNSYLVANIA RAILROAD
Allegheny Valley Railroad
American Steamship Company'
Bald Eagle Valley Railroad
Charlotte Columbia & Augusta
Columbus & Xenia Railroad
$6,221,280
eight years.
70,300
Inc.
5,400
486,000
of Security.
Baltimore & Potomac
'1,200
.'....»—
Increase or
Name
Inc.
entering into the
cost of every consumable thing, but because of its import¬
ant part in the rise and fall of prices and importations
during the past nine months, the course and prospects of
the iron trade form a peculiarly interesting topic at the
present time. The following table, from the recent annual
report of the Secretary of the American Iron and Steel
Association, gives—in net tons of-2,000 pounds, which
used throughout the present article—the production of
pig iron and some other forms in this country for the last
$4,768,934
DECEMBER
300,000
165,000
v
CONDITION OF THE IRON
m
$44,167,800
STOCKS OWNED BY TIIE
Inc.
Inc.
600,000
165,000
54,285
993,050
$55,976,184
general account
Cost, as per
88,000
Inc
Net decrease.
LIST OF
1,000,000
17,500
60,000
are
407,000
132,000
479,900
Susquehanna Coal Co., 1st M., 6s
Sunbury Hazleton & Wilkesb.Ry.,lst M.,5s
Sunbury Hazleton & Wilkes.Ry.,Income,6s
Trenton Horse Car RR., 7s
Warren & Franklin RR., 1st M., 7s
Total
Total increase
Total decrease
300
Not
225,000
200,000
conv.,7s.
Inc.
Inc.
Inc.
1,000,000
17,500
1,826,000
1,000,000
50
100
$100,143,984
200,000
Consol. M., 7s...
Pittsburg Vir. & Char. Ry.. 1st M., 6s
Pitts. Vir. & Char. Ry. Ctf. of Indebt., 6s..
Pitts. Wheeling & Ken. RR., 1st M., 7s
Steubenville & Indiana RR., 7s
St. Louis Van. &T. H. RR., 2d M.,
Summit Branch RR., 1 st M., 7s
Par value of
Par value of
Dec.
643,000
170,000
485,000
6,400,000
3,000
100,000
1,000
3,680,000
443,000
1,605,000
105,800
100,000
$600
Summary.
16,800
710,000
1,000,000
Dec.
Inc.
Inc.
Net increase
113,300 Inc.
151,600 Inc.
1,200,000
Pitts. Cin.&St. Louis Ry.
Pullman Palace Car bonds, 8s
Richmond & Danv. RR. consol.
Total....
Total increase
Total decrease
175,000
440.000
249,000
1,500.000
356,000
Indianapolis & St. Louis RR., 1st M., 7s..
Indianapolis & St. L. RR. Equip., 8s
International Navigation Co., 1st M., 7s..
Jersey City & Bergen RR., 1st M., 7s
Eewisburg Centre &Sp. Cr. RR., IstM., 7s.
Mifflin & Centre County RR., 1st M., 6s—
Newport & Cm. Bridge Co., 1st M., 7s
North. Cent. Ry. Consol. Gen. M., 6s, gold.
North. Cent. Ry. 2d General M., 6s
Pennsylvania & Delaware RR., Judgment
Pennsylvania & Del. RR., 1st M., 7s
Pennsylvania & Del. RR., 2d M., 7s
Pennsylvania Canal Co., 1st M., 6s
Pennsylvania Company Judgment, 6s...
Pennsylvania Co , 6s, secured loan
Pennsylvania RR., 1st M., 6s
Perth Amboy & Woodbridge RR.,lst M.,6s
Philadelphia & Erie RR., 6s
Philadelphia & Erie RR. Gen. M., gold, 6s.
United New Jersey Railroad & Canal Co...
West Chester Railroad
West Jersey Railroad, $35 per share paid .
Western Pennsylvania Railroad
Ino.
230,000
16,500
Frederick & Penn. Line RR. Judgment. .
Frederick & Penn. L. RR., 1st M., 6s, gold.
Frederick <fc Penn. L. RR., 2d M., 6s, gold.
Southwest Pennsylvania Railway
Summit Branch Railroad
$43,000
Dec.
v
Sunbury Hazleton & Wilkesbarre Railway.
Susquehanna <fc Clearf’ld Ry., 1st instalm’t
Susquehanna Coal Co
Tyrone & Clearfield Railway
Increase or
decree in 1879.
Par value.
$
17,755
• 837,100
384,950
2,190,200
of Security.
Richmond & Danville Railroad
River Front Railroad, 1st instalment
St. Louis Vandalia & T. H. RR., 1st pref...
Name
pig iron product in
known.
Twenty-two States
TOTAL
PRODUCTION.
Furnaces,
Dec.31.,—Make of pig iron in net tons. (Tons of 2,000 lhs.)-s
1
1
6
10
58
20
^Vermont
Massachusetts
-Connecticut...
New York
New Jersey ...
Penr sylvahia..
271
24
33
7
Maryland
Virginia
•
Carolina..
Georgia
No.
Alabama
Texas
West
Virginia.
Kentucky
..
..
Tennessee
Ghio
Indiana
Illinois
Michigan
Wisconsin
Missouri
Oregon
Minnesota
..
Utah
..
—
1877.
1378.
1879.
1,960
3,002
2,046
210
550
2,400
2,904
5,040
21,255
14,443
10,160
10,880
230,442
181,620
266,431
52,909
25,349
64,069
960,884 1,009,613 1,153,356
26,959
19,876
38,741
12,434
13,046
29,985
1,190
1,240
800
400
325
11
14
1
11
22
26
16,508
25,108
10,518
24,732
13,223
41,241
426
525
25,277
48,339
28,311
34,905
105
415,893
22,081
49,762
114,805
41,165
34,686
24,585
403,277
14,547
54,168
95,177
51,261
68,223
4
10
26
14
18
1
1
2
62,139
59,717
1,000
Anthracite
...
Bituminous...
Total
229
266
202
908,046
410,990
947,545
697 2,266,581
625
1,426
15,880
247,698
70,958
5,404
16,759
239, C56
96,908
1,342,633 1,607,763
47,607
25,940
400,398
15,460
61,358
82,216
22,205
73,565
24,027
37,237
16,928
18.873
16,363
41,482
20,373
49,841
50,667
50,182
28,347
70,801
48,725
41,475
447,751
11,303
78,143
101,539
89,522
84,637
400
420,991
78,455
70,853
49,«87
47,499
1,310
2,500
65
2,093,236 2,314,585 2,577,361
RECAPITULATION ACCORDING TO
■Charcoal
585
1,750
150
697 2,266,581
Total
1876.
1875.
1879.
States.
Maine
3,070,875
FUEL USED.
934,7971,092,8701,273,024
317,843 293,399 358,873
990,0091,061,945 1,191,092 1,438,978
794,578
308,649
2,093,236 2,314,585 2,577,361 3,070,875
in charcoal and
than in anthracite, both abso¬
and relatively, it is interesting to notice the con¬
Although the increase in 1879 over 1878
bituminous iron is greater
lutely
sistent fact that the
out-put of anthracite
in 1879, 29,279,812
being
tons, was the largest in the history of this country,
.an increase of more than 55 per cent from 1878.
As to
kingdom had been blown-in since October, having a united
capacity of over two million tons; that the increased rate
of product in Great Britain and America was estimated at
3^ million tons; and that to discover any market for it
all was impossible.
There is also a lesson to be learned in
the unprecedented suddenness of the expansion in product.
The demand was “ abnormal and phenomenal as a cyclone,”
says this report, but there was “an increased production
here of over 400,000 tons of pig iron in six months, fol¬
lowing a period of low prices and reduced consumption/
This ability of production to suddenly and excessively
respond to demand is not yet half understood. Not only
has our productive capacity, as respects everything, mar¬
vellously increased since 1860, but the ability to swiftly
augment that increase of capacity itself. This is what few
perons think about, but it is the fact which precludes sus¬
taining prices abnormally for more than very short
periods—supply comes in now like an inundation, and
down go the prices which would otherwise impede free
consumption. The lesson ought to be a discouraging one
to the speculative spirit, for while it illustrates and proves
the supremacy of the healthfulness of trade, it also shows
how much the hazards of speculation have increased.
If
we could only take to heart the lesson that stability and
soberness are real prosperity,it would be of incalculable value.
rails,
the product of all kinds in 1879 was also the largest ever
made, the next largest having been in 18 7 2. In 18 7 9 the pro¬
duct was 1,113,273 tons, of which 683,964 were Bessemer
steel, 9,149 were open-hearth steel and 420,160 were iron; in
1872, the million tons of product were 94,070 Bessemer
steel and 905,930 iron. A statement of special interest is
that this country now leads Great Britain in the production
■of Bessemer steel, of which the following table is given:
Rails,
Ingots,
Gross tons.
829,439
834,711
Country.
United States
Great Britain
Germany
France
450,000
250,000
100,000
,
Belgium
100,000
50,000
20,000
Austria
.Russia
^Sweden
2,634,150
Total
Gross tons.
610,682
520,231
350,000
225,000
75,000
75,000
40,000
None.
1.895,913
through
1879, reached their height in February last, and have since
fallen nearly one-half, our readers are already familiar.
Under the sudden stimulus of demand, a wild scramble
•set in, not only to produce but to import; drag-nets were
thrown out all over the world; iron rushed in as if it was
borne on wings of the wind instead of being a solid
material; all the old rails even that could be reached were
secured, under the idea that there would not, and could not,
be iron enough, and that prices were to continue marching
up by mw steps semi-weekly.
Not only did iron come,
but even iron ore was imported.
The consequence of this
astonishing movement was of course a glut, and several of
the iron-dealing firms recently failed had in their assets
iron “to arrive,” which nobody wanted or yet wants. Last
September we noted a statement that all the works pro¬
ducing Bessemer steel rails had orders ahead up to, and
beyond, the close of the year; also that a Western railroad
had tried in vain to place an order for 5,000 tons, and that
the Government could hardly/nd anybody willing to reply
to a circular asking terms for iron work for public build¬
ings. Now we read of dull trade and low prices, with
many furnaces and rolling mills stopping for want of
"With the course of
prices in iron, which rose
The contrast is complete.
We have here a very plain illustration
orders.
by excessive speculation.
It will probably be months
basis again. The
April 14 said that 141 furnaces in the
before the iron trade
London Times of
of the harm done
gets on to a steady
ATCHISON TOPEKA & SANTA
FE.
The Boston Transcript says:
“
There has been considerable ‘ figuring * of late upon the
status of the Atchison Topeka & Santa Fe Railroad Company,
induced by recent events, among which may be mentioned the
increase in the capital stock of the road since January 1, and a
deal of rumor about stock dividend or gift of income bonds to
stockholders, which, however, is now being dissipated, and is
likely to be further heard of for some months at lea$t.
capital stock of the company, according to the report
recently issued, which includes only the operations and events
of the year to January 1,1880, was $12,634,400.
The exchange of Pueblo & Arkansas Valley Railroad stock
for Atchison in the consolidation, the conversion of $3,139,000
of the three and a-half million of second mortgage bonds into
stock, and the consolidation with the New Mexico & Southern
Pacific road, by which all the stock of this line is also converted
into Atchison, has raised the capital since January 1 to $22,392,400. This is with all the New Mexico stock converted under
the circular of consolidation, and with substantially all the
Pueblo stock in the Atchison treasury. The net result of the
not
The
“
stated
old
road’s operations last year, although not thus definitely
in the annual report, was earnings of 16 per cent upon the
the company paid two three per
earnings should be the same in 1880
as in 1879, they would equal, making allowance for the rental
and interest reduction, about ten per cent upon the new capital.
What the earnings will be may be judged in a measure from
the increase during the first four months of the present year,
which is summarized in the following table of the monthly
capital of $12,600,000, and
cent dividends.
If the net
earnings:
Per ct.
1880.
1879.
Increase,
of gam.
$473,500
444,000
March
668,000
$314,732
369,107
$158,768
74,893
50
20
April
692,000
546,182
145,818
27
January
February
508,608
159,392
31
Total
$1,738,629
$538,871
$2,277,500
31
This shows 31 per cent gain in four months. The approxi¬
mate earnings are always under the actual earnings,
and corrected returns would make a slightly-increased per cent.
“
and later
But
heavy percentages of increase cannot continue indefinitely,
cent increase for the year would appear to be a fair
and 25 per
estimate.
Twenty-five percent increase over last year’s gross earnings
would give earnings of $7,957,000, or substantially
eight millions. Forty-five per cent for operating expenses and
taxes, as compared with 43 per cent last year, is a careful esti¬
mate. This would leave $4,400,000 net.
There is some dis¬
crepancy in estimates regarding the fixed charges, but these,
we believe, are best stated as substantially the interest upon
the bonds of all the lines, since all lines earning much beyond
“
of $6,381,000
their bond interest have been consolidated with
and the company guarantees the bonds of all
the main line,
the branches.
land-grant bonds, and including the Atchison
branch bonds of $1,452,000 and the million of Pueblo & Arkan¬
sas Valley Railroad bonds yet to be issued, the interest charges
are $1,300,000.
Deduct this from the above net 4*d we have
$3,100,000 as the result on $22,392,400 of stock, or about 14 per
cent. There are several minor elements, such as Boston office
expenses and income from present surplus, but these have been
balanced one against another, and eliminated from the above
calculation, which, it should be remembered, is not official, and
might be modified by future events.”
Excluding
INVESTORS’ SUPPLEMENT.
INDEX
With the
TO
NAMES
OF
poi.. XXX.
RAILROADS.
changes which are constantly taking place in the titles of various railroad companies, by reason of
foreclosures, consolidations, &c., it frequently occurs that much difficulty may be experienced in looking up the name of a
former company in the tables of this Supplement. To obviate this
difficulty, and to facilitate reference to any name, whethe
ne w or old, the
following index has been prepared :
numerous
NAMES
NAMES
UNDER-WHICH THEY WILL
BE FOUND IN THE “SUPPLEMENT”
UNDER WHICH
COMPANIES
MAY EE SOUGHT FOR.
TABLES. '
Alabama A Tennessee River
Selina Rome A Dalton.
American Dock A Improvem’t Co.. .Central of New Jersey.
Androscoggin & Kennebec
Maine Central.
*■
Arkansas Valley
Denver A Rio Grande.
Atchison A Pike’s Peak
Union Pacific, Central Branch.'
Atlantic & Great Western
New York Pennsylvania & Ohio.
Atlantic A Gulf
Savannah Florida & Western.
Atlantic A Pacific....
St. Louis A San Francisco.
Baltimore Short-Line
Marietta A Cincinnati.
Bangor & Piscataquis
Bay City & Saginaw
European & North American.
..Flint A Pere Marquette.
Cleveland Col. Cin. A Indianapolis.
Beliefontaine & Indiana
Beloit & Madison
Berks County
Boston Hartford & Erie
Buffalo A Erie
Chicago & Northwest.
Philadelphia A Reading.
New York & New England.
Lake Shore & Michigan Southern.
Burlington A Missouri
Chicago Burlington & Quincy.
Cairo Arkansas & Texas
Cairo A Fulton
California A Oregon
Camden & Amboy
St. Louis Iron Mount’ll A Southern.
St. Louis Iron Mount’ll A Southern.
Central Pacific.
United Companies of New Jersey.
Cape May & Millville
West
Central of Long Island
Central Vennout
Jersey.
Flushing North Shore A Central.
Vermont Central.
Chicago Clinton Dubuqe A Minu
C. M. & Sr. Paul.
Chicago A Great Eastern
Columbus Chic. A Indiana Central.
= ....Grand Trunk (Canada).
Chicago A Grand Trunk
Chicago A Illinois River
Chicago A Alton.
Chicago & Michigan Lake Shore
Chicago A West Michigan. '
Chicago A Milwaukee
Chicago A Northwest.
Chicago A Springfield
Illinois Central.
Chicago A Southwestern
Chicago Rock Island A Pacific.
...
Cincinnati A Baltimore.
; .Marietta A Cincinnati.
Cincinnati A Chicago Air-Line
Columbus Chic. A Indiana Central.
Cincinnati A Indiana
Cin. Indianapolis St. Louis A Chic.
Cincinnati Hamilton A Indianapolis.Cincinnati Hamilton A
Dayton.
Cleveland Columbus A Cincinnati ..Cleveland Col. Cin. A Indianapolis.
Cleveland Painesvilie A Ashtabula.. Lake Shore A Michigan
Southern.
Cleveland A Toledo
Lake Shore A Michigan Southern.
Columbus A Indiana Central
Columbus Chic. A Indiana Central.
Columbus A Indianapolis Central...Columbus Cliie. A Indiana Central.
Council BluffH A St. Joseph
Kansas City St. Joseph A Council B.
NAMES
UNDER
WHICH COMPANIES
MAY BE SOUGHT FOR.
NAMES UNDER WHICH THEY WILL
BE FOUND IN THE “SUPPLEMENT”
'
TABLES.
Leavenworth Lawrence A Galv
Kansas
Leeds A
Maine Central.
Central of New Jersey.
Farmington
Lehigh A Wilkesbarre Coal Co
Long Dock Company
1
Louisiana A Missouri
City Lawrence A Southern
New York Lake Erie A Western.
Chicago A Alton.
Wash. City Va. Mid. A Gfc. Southern
Lynchburg A Danville
Macon A Western
Central Railroad A Bank Co., Ga.
Connecticut A Passumpeic.
Louisville A Nashville.
Maesawippi
Memphis A Ohio
Menominee River
Chicago A Northwest.
Michigan Central.
Lake Shore A Michigan Southern.
New Jersey Midland. Chicago Milwaukee A St. Paul.
Michigan Air-Line
Michigan So. A North’n Indiana
Midland of New Jersey
Milwaukee A Western
Minnesota Central
Minnesota Valley
Southern Minnesota.
Chicago A Northwest.
Missisquoi
Mississippi Central
Vermont A Canada.
Chicago St. Louis A New Orleans.
Missouri River Fort Scott A Gulf ...Kansas City Fort Scott A Gulf.
Montclair
New York A Greenwood Lake.
Monticello A Port Jervis
Port Jervis A Monticello.
Nashua A Rochester
Worcester A Nashua.
Newark A New York
Central of New Jersey.
New Bedford Railroad
Boston Clinton Fitchburg A N. B.
New Jersey RE. A Trausportat’n Co.United New Jersey RR. A Canal Co’s
New Mexico A So. Pacific
Atchison Topeka A Santa Fe.
New Orleans Jackson A G. N
Chicago St. Louis A New Orleans.
New York A Manhattan Beach
Manhattan Beach Co.
New York A Oswego Midland
New York Ontario A Southern.
New York A Roekaway
Long Island.
Newtown A Flushing
.•
Long Island.
Niles A New Lisbon...
Cleveland A Mahoning Valley.
Norfolk A Petersburg
Atlantic Mississippi A Ohio.
*.
Northern Cross
Chicago Burlington A Quincy.
North Missouri
Wabash St. Louis A Pacific.
Northwestern North Carolina
Richmond A Danville.
Northwestern Union
Chicago A Northwest.
Northwestern Virginia
Baltimore A Ohio.
Oakland A Ottawa River
Oil Creek
Omaha A N. Nebraska.,
Omaha A Southwestern
Ontario Southern
Detroit Gr. Haven A Milwaukee.
Pittsburg Titusville A Buffalo.
St. Paul A Sioux City. >
Burlington A Missouri in Nebraska
Covington A Lexington
Kentucky Central.
Dakota, Southern
Danville A Vincennes.#
Sioux
Orange A Alexandria
Ottawa Oswego A Fox River
Washington City Va. Mid, A Gt. So.
Chicago Burlington A Quincy.
Wabash St. Louis A Pacific.
Pacific of Missouri
Pekin Lincoln A Decatur
Missouri Pacific.
Peoria Decatur A Evansville.
Union Pacific.
Peninsular (Mich.)
Michigan Central.
Plain View
Pleasant Hill A De Soto
Port Huron A Lake Michigan
Port Royal
Portland A Kennebec.
Prairie du Chien
t
Pueblo A Arkansas Valley
Chicago A Northwest.
Chicago A Northwest.
City A Nebraska.
Chicago A East. Illinois.
Chicago Milwaukee A St. Paul.
Davenport A Northwest
Decatur A East St. Louis
Delano Land Co
Denver Pacific.
Detroit A Bay City
Detroit A Eel River
Detroit A Milwaukee
Detroit Monroe A Toledo
Detroit A Pontiac
Dixon Peoria A Hannibal
Lehigh Valley.
Eel River.
Detroit Grand Haven A Milwaukee.
Lake Shore A Michigan Southern.
Detroit Grand Haven A Milwaukee.
Chicago Burlington A Quincy.
Boston A Amboy
Lehigh Valley.
East Tennessee A Georgia
East Teun. Virginia A Georgia.
East Tennessee A Virginia
East Tenn. Virginia A Georgia.
Ei’ic
New York Lake Erie A Western.
Essex ..:
East era (Maws.)
Evansville A Crawfordsville
Evansville A Terre Haute.
Evansville Henderson A Nashville.. Louisville A Nashville.
Flint A Holly
Florence El Dorado AW
Flint A Pere Marquette.
.
Flushing A North Shore
.Atchison Topeka A Santa Fe.
Flushing North Shore A Central.
Galena A Chicago Union
Grand River Valley
Great Western (Ill.)
Wabash St. Louis A Pacific.
Hannibal A Central Missouri
Harlem A Portchester
Missouri Kansas A Texas.
New York New Haven A Hartford.
Chicago A Northwest.
Michigan Central.
Hastings A Dakota
Holly Wayne A Monroe
Holyoke A Westfield
Chicago Milwaukee A St. Paul.
Houston A Great Northern
Flint A Pere Marquette.
New Haven A Northampton.
International A Great Northern.
Illinois Grand Trunk
Illinois A Southern Iowa
Wabash St. Louis A Pacific.
Chicago Burlington A Quincy. *
Indianapolis t in. A Lafayette
Indianapolis A Madison
Cin. Indianapolis St. Louis A
Cliie.
Jeffersonville Madison A Ind.
International A Great Northern.
Detroit Lansing A Northern.
International
Ionia A Lansing
Iowa City A Western
Iowa A Dakota
Iowa Midland
Iowa A Minnesota
Iowa South. A Missouri North
Burlington Cedar Rapids A North’n.
Chicago Milwaukee A St. Paul.
Chicago A Northwest.
Chicago Milwaukee A St. Paul.
Chicago Rock Island A Pacific.
Jackson
Michigan Central.
Lansing A Saginaw
Jamestown A Franklin
Joliet A Chicago
Kalamazoo Allegan A Gr. Rapids
Kalamazoo A Schoolcraft
Kalamazoo A South Haven
Kalamazoo A White Pigeon
Kansas City A Cameron
Kansas City St. Louis A Chic
Kansas City Topeka A Western
Lake Shore A
Michigan Southern.
Chicago A Alton.
.
.Lake Shore A Michigan Southern.
Lake Shore A Michigan Southern.
Michigan Central.
Lake Shore A Michigan Southern.
Haunibal A St. Joseph.
Chicago A Alton.
Atchison Topeka A Santa Fe.
Kansas A Nebraska
St.
Kansas Pacific
Union Pacific.
Lackawanna A Bloomsburg
.
Joseph A Western.
Delaware Lackawanna A Western.
Lafayette Bloomington A Muncie...Lake Erie A Western.
Lake Erie Wabash A St. Louis
Wabash St. Louis A Pacific.
Quincy Altou A St. Louis
Quincy A Palmyra
Quincy A Toledo
Quincy A Warsaw
Lake Ontario Southern.
Atchison Topeka A Santa Fe.
Chicago A Lake Huron.
Port Royal A Augusta.
Maine Central.
Atchison Topeka A Santa Fe.
Chicago Burlington A Quincy.
...Hannibal A St. Joseph.
Wabash St. Louis A Pacific.
Chicago Burlington A Quincy.
Republican Valley
Rochester A Northern Minnesota
Burlington A Missouri in Nebraska.
..
St. Joseph A Denver City
>t. Joseph A Pacific
St. Louis Jacksonville A Chicago
St. Louis Kansas City A Northern..
St. Louis Rock Island A C
St. Paul A Chicago
St. Paul A Pacific
St. Paul Stillwater A T. F
Sandusky City A Indiana
Sandusky Dayton A Cincinnati
...
Chicago Milwaukee A St. Paul.
.Chicago A Northwest.
St. Joseph A Western.
St. Joseph A Western.
Chicago A Alton.
.Wabash St. Louis A Pacific.
.Chicago Burlington A Quincy.
Chicago Milwaukee A St. Paul.
St. Paul Minneapolis A Manitoba.
St. Paul A Sioux City.
Cincinnati Sandusky A Cleveland.
Cincinnati Sandusky A Cleveland.
San Francisco Oakland A Alameda .Central Pacific.
Savannah Albany A Gulf
Atlantic A Gulf.
Schoolcraft A Three Rivers
Lake Shore A Michigan Southern.
Scioto A Hocking Valley
*
Marietta A Cincinnati.
Sioux City A St. Paul
St. Paul A Sioux City.
Smithtown A Port Jeffcrsou
Long Island.
South Pacific (Mo.)
St. Louis A San Francisco.
South Side, (L.I.)
A Montauk.
South Side (Va.)
..Atlantic Mississipiu A Ohio.
Southern Georgia A Florida
Atlantic A Gulf.
Southern Minnesota
Chicago Milwaukee A St. Paul.
Stanstead S. A Ckawbly
Vermont Central.
Steubenville A Indiana
Pittsburg C. A St. Louis.
Brooklyn
Sunbury A Erie
Philadelphia A Erie.
Tebo A Neosho
Tennessee A Pacific
Toledo A Illinois
Toledo Logansport A Burlington
Toledo Peoria A Warsaw
Toledo A Wabash
fTnion A Logansport
Union A Titusville
Virginia Central
Virginia A Tennessee
Missouri Kansas A Texas.
...Nashville Chattanooga A St. Louis.
Wabash St. Louis A Pacific.
Columbus Chic. A Indiana Central.
Wabash St. Louis A Pacific.
Wabash St. Louis A Pacific.
Columbus Cliie. A Indiana Central.
Pittsburg Titusville A Buffalo.
Chesapeake A Ohio.
Atlantic Mississippi A Ohio.
.
Wabash A Western
Waco-A Northwest
West Wisconsin .:
Western Pacific
Western Union Railroad
Wichita A Southwestern
Winona A St. Peter
Wisconsin Valley
i
Wabash St. Louis A Pacific.
Houston A Texas Central.
Chicago St. Paul A Minneapolis.
Central Pacific.
Chicago Milwaukee A St. Paul.
Topeka A Santa Fe.
Chicago A Northwest.
Chicago Milwaukee A St. Paul.
Atchison
STOCK AND BOND TABLES.
\
NOTES.
These tables
expressly intended to toe used in connection with the information concerning Investment matters, published from week to
week in the Chronicle—to which an index is furnished in the remarks at the foot of the tables. Annual reports are in black-faced figures.
A description of U. 8. Government Securities is published in the Chronicle each month, as soon as the official “Debt Statement” is issued.
Prices of all active Stocks and Bonds are quoted weekly in the Chronicle, and a list of general quotations is published
monthly.
The following will give explanations of each column of the tables below :
Description.—Railroads leased to others will sometimes be found under the lessee’s name. The following abbreviations frequently occur, viz.:
M. toj “mortgage.” s. f. for “sinking fund,” 1. gr. for “ land grant,” reg. for “ registered,” coup, for “
coupon, Br. for “Branch,” guar, for
“guaranteed.” end.for “ endorsed.” “ Coupon*” indicates that the bonds are coupon, but may be registered.
are
Date of Bonds.—The date of issue is referred to in this column.
Miles of Road.—Opposite Stocks, this means the miles of road operated, on which the earnings are based; opposite bonds, the miles
-
covered
by the mortgage.
Size or Par Value.—These figures are dollars, showing the denominations or par value. The figures “ 100, Ac.,” signify $100 and larger.
Rate Per Gent.—The interest per annum is given for bonds, but the per cent of last dividend for stocks; g means gold; x, extra; s, stock or scrip.
When Payable.—J. A J. stands for Jan. & July; F. & A., Feb. A Aug.; M. & 8., March A Sept.; A. & O., April A Oct.; M. & N., May A Nov.; J. AD.,
June & Dec.; Q.—J., quarterly from January; Q.—F.,
quarterly from Feb.; Q.—M., quarterly from March.
Bonds, principal when due; Stocks, last dividend.—The date in this column shows the period when the principal falls due of bonds, but the time
when the last dividend was paid on stocks
65877811 781
STATE SECURITIES.
Subscribers will confer
a
great favor by giving immediate notice of any error discovered in tliese Tables.
DESCRIPTION.
For
explanations
see
Date of
Bonds.
Size
or
par
Value.
notes above.
Alabama— Substitution bonds (A) ($7,000,000).
Substitut’n b’ds for RR. (B) ($596,000)
do
for Ala. A Chatt. (C) ($1,000,000)
1876
1876
1876
$100Ac.
100 Ac.
100 &c.
Educational funded debt
New bonds for funded “ obligations
....
1880
1869 to ’70
1870
1,000
Funding Bonds 1870 (Holford)
100 Ac.
Levee bonds (or warrants)..
1871
Old unfunded debt, including interest
1838 to ’39
Ten year b’ds, Act May 29,’74
1874
1875
Sinking fund bds. (Loughborough)Act.Dec., ’74
To Memphis & Little Rock Railroad
1869
1,000
To Little Rock A Fort Smith Railroad
1870
1,000
To Little Rock, Pine Bluffs & N. Orleans RR..
1870
1,000
To Miss., Ouachita & Red River Railroad
1870
1,000
To Arkansas Central Railroad
1870
1,000
State scrip
1863
500 Ac.
1863
Califoi'nia—Soldiers’ relief
State Capitol bonds
1870 & ’72
Funded debt bonds et 1873
1873
500 Ac.
Connecticut—War bonds, 20 year
1863
1,000
) Coupon
War bonds, 20 year
1864
1,000
>
or
do
not taxable. 20 year..) regist’d.
1865
100 Ac.
New bonds, coupon, 10-20 year
1877
1,000
500 Ac.
1872
Dist.pf Columbia— Perm’t imp’t, gold, coup....
Permanent improvement bonds, coupon
100 Ac.
1873
Bds for fund’g (Act Juue 10, ’79) coup, or reg.
100 Ac.
1879
Fund, b’ds (U.8.guar.,Acts June,’74A Feb.,’75)
50 Ac.
-1874
Market stock, coupon
50 Ac.
1872
Water stock bonds, coupon
1871 to ’73
1,000
Wash, fuud’g, gld,($660,000 are M.AN.,1902).
1872
100 Ac.
Florida—State bonds
!
1871
Consolidated gold bonds ($300,000 are 7s)....
1873
1.000
Loan to Jacksonville, Pensacola & Mobile RR.
1870
1000
1858 to ’66
500
Georgia— Atlantic & Gulf Railroad bonds
500 Ac.
1866
Bonds, act of Mar. 12, ’66 (renewal W. & A.)..
”
Arkansas—Funding bonds of 1869 and 1870..
i,ooo
,
....
....
....
....
Quarterly gold bonds, act of Sept. 15,1870..
Bonds, act of Jan. 18, ’72
Bonds for funding (Act Feb. 19, ’73)
Bonds to fund coupons on endorsed bonds...
Bonds exchanged for endorsed RR. bonds
Illinois—Refunded stock bonds
Indiana—Bonds, coup, (pay’ble after Apr. 1,’84)
School fund bonds (non-negotiable)
Iowa—War and defense bonds
1870
1,000
1872
1873
1876
1877
1847
1879
1,000
250&C.
1.000
1,000
1,000
....
School fund bonds
Outstanding
$6,438,000
538,000
827,000
2,810,670
1,000,000
1,886,000.
1,268,000
1,986,773
Rate.
2 Ac.
5
2 Ac.
6
6
6
7
1,985,955
261,500
412,000
1,200,000
1,000,000
1,200,000
600,000
1,350,000
1,353,120
95,500
500,000
2,801,000
877,000
1,31S,500
New York.
do
do
July 1,1906
July 1, 1906
July 1,1906
A J.
A J.
A J.
J. A
6
N.
Montgomery.
Y., Union Trust Co.
J
do
1899
1900
1900
do
4
6
5
f»
7
-
8
1884
A J. New York, Latham, A. A Co.
A. A O.
N. Y., Union Trust Co.
J.
rr
3,9)4,783
3)0,000
Alabama.—The State gave 30-year bonds, dated July 1,1876, bearing
2 per cent till 1881, then 3 per cent till 1886, 4 per cent till 1896, and 5
per cent for last 10 years, for old bonds, without any allowance for pnstdue coupons. Alabama A Chattanooga endorsed bonds are exchanged
for $1,000,000 of the new bonds, Class C, which bear 2 per cent till 1881,
and 4 per cent for remaining 25 years. For railroad endorsements the
bonds issued bear 5 per cent. In 1880 the new 6 per cent bonds were
issued to retire old 8 per cent “ State obligations.” An analysis of the
debt and funding operations was given in the Chronicle, V. 24, p. 28.
For the $2,000,000 of State 8 per cent bonds issued to the Ala. & Chatt.
RR. under act of Feb. 11, 1870, the State gives the lien on the lands
granted to that railroad, 500,000 to 1,200,000 acres. Tax rate, 1878-9,
7 mills. The assessed valuation of real estate and personalty is $126,773,262. (V. 27, p. 94; Y. 28, p. 199.)
J.
J.
J.
Due.
10*
510,000
245,435
Payable
Principal—When
Where Payable and by
Whom. '
....
300,000
....
When
J. A J.
J. A J.
7
7
7
7
5 A 8
7 g.
7 g.
6 g.
6
6
6
1,741,100
5
1,031,000
6 g.
3,995,000
7
670,000
5
1,092,300
3-65
13,504,900
7
150,000
7
423,000
6 g1,830,000
7
350,000
923,100 7 A 6 g.
8 g.
4,000.000
6
589,500
7
3,600,000
7 g.
2,097,000
7
307,500
8
700,000
7
542,000
6
2,298,000
....
1861
INTEREST.
Amount
A.
A.
A.
A..
A
A
A
A
0.
O
do
do
do
do
do
do
1899
1900
1900
1900
O.
do
do
April, 1900
O
J. A**J.
1883
Sacramento, Treasury.
do
J. A J.
do
1885
do
J. A J.
do
1893
J. A J.
Jan. 1, 1883
Hartford, Treasury.
J. A J.
do
do
Jan. 1, 1884
A. A O.
do
do
Oet. 1, 1885
M. A N.
do
do
Mayl, 1897
J. A J. Wash, or N. Y., U. S. Treas.
July 1, 1891
J. A J.
do
do
July 1, 1891
J. A J.
do
do
July 1, 1899
F. A A.
do
do
Aug. 1, 1924
J. A J.
do
do
July 26,1892
J. A J.
do
do
Oct. 1.1901 to ’03
J. A J.
do
do
1892 A 1902
N. Y., Importers’ A Tr. B’k.
J. A J.
do
do
Jan. 1,1903
J. A J.
F. A A. N. Y., Fourth National B’k.
1881 and i886
J. A J.
do
do
May, 1886
do
do
Oct., 1890
Q.—J.
J. A J.
do
do
July, 1892
A. A O.
do
do
April 1, 1886
J. A J.
do
do
July 1, 1896
J. A J.
do
do
Jan. 1, 1889
J. A J. N. Y.. Am. Exchange Bank.
At will.
A. A 0.
N. Y., Winslow, L. A Co.
April 1, 1889
Various
J. A J. New York, Kountze Bros.
July
1881
M.A S.
State Treasury.
I*,*
bill before Congress in 1880 proposed further issues, which would raise
the amount of these bonds to the full limit of $15,000,000. For five
years past real estate was assessed as follows:
Real Estate.
Personal.
Tax Rate.
$93,452,684
95,929,401
97,609,890
87,491,442
87,980,356
$-
$15
-
15,419,873
17,239,051
13,363,920
15
15
15
15
t; V. 28, p. 553,578,599; V. 29, p. 17, 40, 95.)
Florida.—Less the sinking fund of $143,900, and Jacksonville Pensa¬
cola A Mobile loan, the total debt is $1,149,800, which does not include
$132,000 bonds of 1857, held by Indian Trust Fund. Coupons of the
consolidated bonds are receivable for taxes. Real and personal property
Arkansas.—The State Supreme Court decided Levee bonds of 1869 and assessed in 1878 at $29,471,227; tax rate, 9 mills. The Jacksonville Pen¬
1870 invalid. The State is in default for interest, except on the 10 per 1 sacola & Mobile Railroad loan is in litigation, and the State Supreme
cents of 1874 and secured sinking fund bonds issued under the law of Court has decided that the State isjiot bound for it.
(V. 25, p. 212.)
December, 1874. The total recognized debt is $5,813,627, and State
Georgia.—The constitutional amendment in 1877 declared void several
assets (land and sinking fund), $5,274,712.. Assessed valuation of tax¬ issues of bonds and railroad endorsements. The Southern
Georgia A
able property in 1880 about $90,000,000, and tax rate 7*2 mills. The Florida Railroad has
$464,000 of bonds endorsed, but pays interest.
following
are the latest
official assessments;
Real Estate.
Personal.
$61,812,088
$29,842,103
61,892,881
31.971,308
32,366,893
32,613,686
55,713,115
55,351,488
Tax Rate.
10
10
7
7*3
Assessed value and tax rate'per
Years.
Real Estate.^
-(V. 25, p. 161; Y. 27, p. 15, 40; V. 28, p. 171, 276.)
$1,000 have been:
Personalty. Rate of Tax.
$106,307,847
$500
Total Debt.
$8,005,500
99,816,944
95,506,280
91,585,832
90,849,338
134,244,081
653; V. 28, p. 17; V. 30, p. 465.)
500
500
500
10,644,500
10,444,500
$155,448,037
146,036,306
140,153,250
134,635,886
8,447,500
350
10,344,500
California.—The State holds in trust for School and University funds -(V. 27, p.
the $500,000 Capitol bonds and most of the bonds of 1873. Assessed
Illinois.—The Illinois Central Railroad charter tax on earnings is
about $300,000. For 1879 the total assessed value by local assessors
valuations and rate of tax per $1,000 have been:
Real Estate.
Personal.
Years.
Total Valuation. Tax Rate. was: Lands, $412.208,278; town and city lots, $177,567,098; personal
$418,840,023
$618,083,315
$6’50 property, $151,629,963. (V. 24, p. 40.)
$199,243,292
140,431,866
454,641,311
595,073,177
7 35
Indiana.—There are also $139,000 of 6 per cent war loan bonds.
128,780,824
586,953,022
6*20 Indiana made a compromise with her bondholders in 1846, giving them
458,172,198
466,273,585
118,304,451
584,578,036
550 State stock for one-half of their bonds and overdue coupons, and Wabash
Connecticut.—The debt of Connecticut was all created originally*for & Erie Canal stock for the balanoe, about $7,500,000. The canal has
war purposes.
proved worthless, and the creditors claimed payment for their shares
Assessed valuation and tax rate per $1,000 have been:
Years.
Real Estate.
Personalty,
Tax Rate. from the State. Valuation, 1879, all taxable property, $884,363,828,
;.... $244,121,905
$107,663,564
$100 against $850,616,987 in 1878. Tax rate, 1*3 mills.
238,027,032
106,379,945
150 1 Iowa.—This State has a very small debt, and also very small town and
235,412,691
99,970,163
150 county debts. Assessed values (about one-third of true value) anl tax
228,987,700
95,901,323
T50 rate per $1,000 have been:
The assessed valuation of real estate is about 70 per cent of the true value, i
Years.
Real Estate.
Personal and RR. Tax Rato.
.Debt.
District of Columbia.—The total assessed value of taxable real estate 1875
$294,313,368
$101,109,772
$3
$343,056
for 1880 was $87,980,356; personal property, $11,421,431. The interest 1877
302,277,661
102,292,383
3
545,435
and
sinking fund
on the
3-65 bonds are provided for by Congress; and a 1879
.
303,381,498
102,159,899
3
.
545,435
Subscribers will confer a
great favor by
giving immediate
notice of any error discovered in these Tables.
INTEREST.
Date of
Bonds.
DESCRIPTION.
War explanation see notes on
Mstnsas—Bonds, 1861 to ’69, funding, Ac...
Bonds for various State purposes
outstanding.
par
.
1866
1867
1870
1866
1870
1869
1857
1870
1871
1869
1874
1863
1863
1864
1868
1838
1838
Co.
Mississippi & Mexican Gulf Canal
do
school, held by St. Treasurer
do
to N. Orleans, Mobile & Chatt. RR. ..
to N. Orleans, Mobile A Texas RR....
do
N. O. Mob. A Texas RR. bonds, end. by State
Consolidated funded bonds
Mattie—War loan bonds
1 Coup.
or
Bounty loan bonds
do
do
U.U
uu
j regisMnnicipal war debt assumed
J tered.
Maryland—Baltimore A Ohio Railroad, sterile
Chesapeake & Ohio Canal, sterling
to
1,000
1,000
1,000
500
100 &c.
1,000
1,000
1,000
1,000
1,000
.
-
Railroad
.
'War Loan,
n
269,000
528,355
298,435
62,605
3,326,750
225,000
465,000
965,554
1872
1878
1863
1863
1864
sterling
sterling
'Troy A Greenfield Railroad loan, sterling...
do
do
home ....
sterling...
do
do
do
do
sterling...
do
do
dollar bom
do
do
do
•Southern Vermont Railroad Loan
Boston, Hartford & Erie Railroad, sterling...
Harbor Land Improvement (5-20s)
Danvers Lunatic Hospital
Lunatic Hospital, Worcester.
New State Prisons, sterlmg
;
-Michigan—Two Million Loan
War Bounty Bonds
Minnesota—State Building loan, coupon
Railroad Bonds (not recognized)
Missouri—State bonds, proper
Consolidated bonds
University and Lunatic Asylum bonds
State Bank stock refunding
Bonds to North Missouri Railroad
Bonds to Cairo & Fulton Railroad
Bonds to Platte County Railroad
Bonds to Iron Mountain Railroad
"Pacific Railroad of Missouri
Funding bonds
-Renewal bonds, coup., 5-20s, (act Mch. 29, ’7c)
Hannibal & St. Joseph Railroad
do
do
renewal
Nebraska—Bonds (act Feb. 14,1877) coupon...
Nevada— State bonds
Territorial bonds
Mew Hampshire—War loan, coupon bonds
1864
1869
1858 to’61
1861 to’63
1871
1875
1873 to ’74
1875
1860
1,000
1,000
500 Ac.
£100 &c
£200
£200 &c
500 Ac.
200 &c.
4,379,500
£500
1,497,980
1,000
1,000
5,000
670,000
1,300,000
200,000
4,000,744
999,944
5,506,952
1,366,500
3,598,540
1,000
1,000
1,000
3,599,024
700,000
1,500,000
1,100,000
£500
1,292,280
1,000
591,000
£200
1868 to ’69
1874 & ’76
1874 & ’77
1875-’76
1875
1863
1865
1873
1858
1865 to ’66
1868
1,000
299,000
1,000
1,000
1,000
1,000
250,000
2,275,000
439,000
.
2,727,000
401,000
104,000
1,000
1872
1874
1854 to ’58
1857 to ’59
1859 to ’60
1854 to ’59
1853 to ’59
1874
1877
1871
1872
1864
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1872
100 Ac.
1875-6-7
1857 to ’75
1874
Municipal war loan
500,000
220,000
888,000
200,000
500
1861 to ’62
Bounty Fund Loan
do
2,330,000
2,826,900
1,995,555
2,436,666
155,615
31,069
1868
1870 & ’74
1872 & ’76 100 Ac.
Coast Defense Loan
do
1,000
1839
1837
1870
1839
1839
-Chesapeake & Ohio Canal
Baltimore & Susquehanna Railroad
Annapolis & Elkridge Railroad
Defense Bounty Loan
Deaf and Dumb Asylum Loan
Maryland Hospital Loan, 10-15 years
Maryland State Loan
Treasury relief loan, 10-15 years
^Massachusetts—Back Bay Land a Loan......
Bounty Fund Loan
385,000
307,000
Various.
Railroads and canals
Eastern Shore Railroad
Baltimore & Susquehanna
11,827,300
500 &c.
100 &c.
1,693,000
267,000
504,000
1,361,000
2,971,000
1,000,000
4,350,000
1,518,000
1,482,000
549,267
160.000
380,000
600,000
2,206,100
debt, but the issue of municipal
The valuations (at one-half of true
Kansas.—Kansas has but a small State
brands amount to
$13,000,000.
value) have been:
Years.
Real
Personal
Property,
Total
.Total
Debt.
$1,235,975
1,181,975
1,181,975
1,181,975
Assets.
$119,475
116,875
94,275
181,776
Rate of Tax
per $1,000.
$94,586,003 $39,246,313 $5 50
97,483,242
39,997,287
5 50
41,131,187
5 50
•
97,567,623
101,229,734
5 50
43,700,545
—State funds hold $713,700 of the bonds.
Louisiana.—The Constitutional amendment passed December,
1879,
fuovides for a new bond in place of consols of 1871,afterwards,
bearing 2 onperwhich
cent
or 5 years, 3 per cent for 15 years and 4 per cent
/basis the interest charge per year for consols is $235,542.
Constitutional
•provisions of 1879, see V. 29, p. 96. The assessed value of property for
1880 is $149,635,805, and whole tax for all State purposes is limited to
^ mills, on which the comptroller estimates a deficit for 1880 of $385,4526. The interest tax was 5*2 mills before the constitutional amend¬
ment, and bondholders are trying to enforce its collection by suit. There
is considerable overdue interest of the years 1874 to 1878 inclusive.
A suit has been begun by the State of New Hampshire against Louisiana
sm her bonds.
(V. 28, p. 18, 42, 173, 224, 526, 553, 624, 641; V. 29, p.
18, 96, 277, 330, 358, 631; V. 30, p. 117, 493.)
Maine.—1The net debt January 1,1880, was $5,848,900.
The sinking
$1,166,159, January, 1880, reduced the total debt
.amount of $4,682,741. Tax rate in 1877, 3 mills. For 1878,
fund
to a net
3% mills.
Maryland.—'The State has largely assisted canals and railroads, and
$3,585,327 of stocks and bonds ranked as productive; the State
-also holds $25,323,304 in unproductive securities. Assessed valuation
Bolds
Years.
1875
1876
1877
,
Real and
Tax Rate,
Sinking
Personal.
per
$100.
20616c.
17*40.
17*40.
18 %c.
18 ^c.
Funds.
$451,531
125,264
126,642
134,111
140,741
$427,753,393
429,112,418
478,468,028
464,425,790
509,213,891
1878
1879
—(V. 28, p. 42.)
Massachusetts.—The funded debt, January 1, 1880, was $33,020,464.
The sinking funds were $12,235,248. The Hoosac tunnel and connections
cost the State about $18,854,024, including interest paid.
Assessed
valuation, tax rate, &c., have been:
Years.
1876....
8877....
due.
Y., Am. Exch. Nat. Bk.
1883 to ’84
1884 to’99
1884 to ’99
'
do
do
do
do
J. & J.
J. & J.
$15,000 '
Various
6
119,000
Various
8
M. & N.
6
Amounts not
M. A S.
8
fundable,
J. & J.
6
J. & J.
80,000 [ per report of j
8
260,000 Jan. 1,1878.
7*30 M. & S.
Various
6
48,000
J. & J.
70,000
8
A. & O. 2,500,000
8
875,000
8
N. Y., Bank of N. Y.
J. & J.
7
M. & S.
6
Boston, Suffolk Bank.
do
do
F. & A.
6
do
do
J. & D.
6
A. & O.
6
Augusta and Boston.
London, Baring Bros.
5 g. J. & J.
do
do
5 g. J. & J.
July, 1893
1872 to 1906
1886
May 1, 1907
March 1,1875
*
1886 & ’88
Jan. 1, 1890
1899
1897
July 1,1910
April, 1911
....
5
5
3
6
6
6
6
'
6
6
6
6
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g5 g5 g.
6
7
7
7
6
6
6,
6
6
6
6
6
6
6
6
6
6
8
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Quart’y
& J.
Q.-J.
A. & O.
J.
& J.
J. & J.
J. & J.
....
J. & J.
M. & N.
J. & J.
J. & J.
M. & N.
M. AN.
J. A J.
A. A O.
A. A O.
J. A J.
J. A J.
J. A J.
J. A J.
A. A O.
J. A J.
J. A J.
Various
Boston, Treasury.
•
do
do
do
do
do
do
London, Baring Bros.
do
do
do
Boston
do
Treasury.
London, Baring Bros.
do
Boston
do
Treasury.
do
do
do
do
London, Baring Bros.
Boston, Treasury.
Boston Treasury.
Oct. 1,1889
1890
1890
1890
1890
1890
1885
1890
1890
1883
1885 & ’89
1887 A 1891
1887
1888 to 1893
May
July
July
May
May
1,
1,
1,
1,
1,
1880
1883
1883
1894
1894
July 1, 1889
Oct.. 1888 to ’90
April, 1891 & ’93
July, 1891
Jan. 1, 1895
1893 & ’94
July 1, 1895
April 1,1890
July 1,1900
Sept. 1.1894-96
J’yl,’94-Sep 1,’97
do
do
M’yl’95-Sepl,’96
Various
Jan. 1, 1895
A J.
London, McCalmonts.
Jan. 1, 1883
A J. N. Y., Am. Exchange Bank.
do
do
May, 1890
A N.
St. Paul, Treasury.
July 1,1883
A J.
Dec., 1887
A D.
1883
A J. N. Y., Bank of Commerce.
1888
do
do
A J.
do
July, 1892
do
A J.
do
do
April 1,1894
J. A J.
1879 to ’88
do
do
J. A J.
1879 to ’89
do
do
J. A J.
1889 to ’90
do
do
J. A J.
1879 to ?89
do
do
J. A J.
1879 to’87
do
do
J. A J.
J.
J.
M.
J.
J.
J.
J.
J.
N. Y., B’k N. America.
do
do
State Treasury.
State Treasury.
do
Concord
July, 1894
do
do
do
do
J. A J.
J. A J.
T. A J.
J. A J.
A. A O.
9*a & 10 Various
M. A S.
9*a
M. A S.
6
J. A J.
6
Years.
1878
Aug. 15,1880
June 1,1889
Baltimore, State Agency.
Q.-J.
A. A 0.
J.
Jan.Y *1914
March 1,1883
or
Boston.
do
do
1895-6-7
1887 to’95
1894-0-6
April 1,1897
1881 and ’82
March, 1887
Sept., 1884 & ’89
Jan., ’92 to 1905
Real
Personal
Tax per
Total
Estate.
Property.
$1,000.
Debt.
Sinking
Funds.
$1,118,557,164 $761,266,574 $12 54 $33,219,464 $13,448,194
1,090,749,235 742,533,998 12 78 33,020,464 14,142,900
The loan to Boston Hartford & Erie Railroad was secured by
deposit of $3,600,000 “Berdell” mortgage bonds, afterwards exchanged
for N. Y. & N. E. RR. stock, and had a sinking fund of $1,141,991 Jan¬
uary 1, 1880.
(V. 26, p. 40, 523.)
Michigan.—The debt is practically extinguished, as the sinking fund
has $904,020 assets. Equalized valuation of real and personal property,
....
Estate.
and tax rate have been:
N.
A J.
7
6
1
8
7
9
.
758811775. 8811187.
1
1,000
100 &c.
500 &c.
J*dy.
J.
7
Principal—When
payable and by
whom.
Payable
6
739,000
289,000
61,000
273,000
49,000
98,000
23,000
48,000
80,000
260,000
48,000
70,000
2,500,000
875,000
Where
When
Rate.
$101,175
1861 to’69 $100Ac.
1861 to ’75 100 Ac.
1864 to’65
500
1853
do
special—Act 32 of 1870
Bonds funding coupons
do
to Boeuf & Crocodile Navigation
do
Amount
or
Value.
first page of tables
Military loan
tjoHMiiana—Bonds for relief of State Treasury
Bonds in aid of various railroads
Levee bonds—Act 35 of 1865
do
Act 115 of 1867
Size
Real
Personal
Tax per
Total
Estate.
Property.
$1,000.
Debt.
Sinking
Funds.
$13,577,106
14,294,238
1,191,583,163 822,289,966 12 84 33,550,464 13,635,490
$1,311,031,326 $882,877,758 $14 68 $29,465,204
1,262,141,092 800,958,487 12 80 33,866,464
1880, about $630,000,000,
mills
on
the $1.
and tax rate for State purposes 1
278-1,000
Mixinesota.—AM the State bonds are now held by the permanent school
Minnesota has refused to recognize the “State Railroad Bonds” of
1858, to the amount of $2,275,000. A proposed compromise with the
holders was defeated by a large majority in 1877. Taxable property and
State tax sinoe 1874 have been:
fund.
Personal.
Tax Rate.
$45,162,467
2*1
173,548,259
45,302,485
2 ,
175,783,979
45,141,659
2
183,615,738
46,175,304
2*2
Tax for all purposes in counties averages 17*4 mills.
Missouri.—The valuation of all real and personal property in 1878 was
$628,329,312, of which $438,663,920 was real and $173,543,091 per¬
sonal. Railroads and bridges were assessed separately at $26,122,201;
the gross valuation exclusive of railroads and bridges was $509,824,423.
The tax rate is 40c. per $100. In 1877 and 1878 bonds maturing were
met by sale of renewal bonds and by sinking fund. The Hannibal & St.
Joseph RR provides for its own debt. (V. 27, p. 200, 409; V. 30, p. 467.)
Nebraska.—'The State school fund holds $326,267. There are also $50,000 10 per cent “ Grasshopper” bonds due 1885, interest paid January
and July. Assessed valuation (33 *s per cent of true value) and tax rate
per $1,000 have been:
Tax Rate.
Personal.
Years.
Real Estate.
$7 35
$40,234,676
$35,232,722
7 35
40,589,285
33,589,360
6 37*1
37,975,987
33,335,591
6 37*8
;
39,263,823
.
35,125,713
6 371*
36,981,389
38,378,409
Nevada.—The debt of Nevada is hardly more than nominal, as the
bonds are principally held in State funds.
New Hampshire.—The debt of New Hampshire was created for war
purposes. 'The Municipal loan of 1872 was issued to cities and towns*
the proceeds to be applied to their war debts. Total valuation in 1879*
$206,959,017. Tax rate, $2 per $1,000. (V. 29, p. 171.)
Years.
Real Estate.
$173,693,276
•
„■
..
SECURITIES.
STATE
June, 1880.]
Subscribers will
confer a great favor by
giving: Immediate notice of any error
discovered in these Tables.
INTEREST.
Date of
DESCRIPTION.
For
Bonds.
Amount
outstanding.
Hampshire—(Continued)—
tax free
$300,000
1879
$1,000
1879
1861
1863
1864
1875
1872
500 &c.
100 &c.
100 &c.
100 Ac.
.
140,000
500,000
900,900
595,400
473,000
1,562,900
847,500
4,302,600
2,000,000
i
North
7, Sec. 3, of Con-,
4
1873
1873
1874
1879
Art. 7, Sec. 12.
Carolina—Funding bonds tax-receivable.
bonds in process of funding
Old
Bonds to North
(Chatham and W.&T.)
1867
1868
i860
fr., (red’ble ’92).
15-25 years
Coupon loan (except $53,000 reg.), April 2—
Pennsylvania—Reg. bonds, tax
Registered bonds, tax free,
April 2
Stock loan of Feb. 2 (registered)
do
do
(registered)
do
•
Agricultural College land scrip
Rhode Island—War bonds.
War bonds
do
do
South Carolina^-State
State House stock
•
1864
1794
1836 to’61
1853 to ’54
1866
1854
1868
1868
1868
1869
1869 to ’70
1838
1838
1869
stock
bonds
Funding bonds and
stock
Ridge Railroad bouds
Funding bills receivable
Payment of interest
Funding bank bills
Conversion bonds and stock
Land commission bonds—
1856
1877
1879
1852
1852
1867
1867
1867
1872
1862
1863
1863
do
do
Blue
*
Fire loan bonds, sterling
do
stock, d omestic
Bonds—Relief State Treasury
Reduction of Public Debt stock
Consolidated bonds, coup. (Funding
do
stock (Funding act)
Dec., 1873
1873
1873
1879
act)
consolidated bonds (brown)
endorsements
Tennessee—New funding bonds, act of 1873
Bonds regist’d, act of 1873,($292,300 are 5s).
Held by E.T. University (not to be funded)...
Texas—Funding State debt (act May 2,1871)..
Frontier def’se,gold,act Aug.5,’70(red’ble ’91)
Revenue deficiency bonds, act Dec. 2,1871..
Bonds, act Mar.,1874 (forpaying float’gdebt)
Redemption of debt, act Aug. 6, ’76
New
Railroad
Bonds, act April 21,1879
Vermont— War loan bonds,
registered
Virginia—Old bonds, 23 fundable
Old Donds, sterling,
not required to be
funded
Consol.) Act Mai. ’71) coup, tax receivable—
do
do
reg., conv. into coup...
(Act 1872) “Peeler,” cp.
Deferred certificates (W. Va.)
do
New
funding bonds, 10-40s,
do
tf.S0o
$50 &c.
do
not rec’ble
.
($500,000 reg.)..
sterling
1,850,000
(?)
2,800,000
1,180,000
383,045
1,000
1,000
Ohio—Register’d loan, payable after June, 1881
Registered loan, payable after Dec., 1886
do
©3©
500 Ac.
.Registered certificates of literary fund
Penitentiary bonds, act Aug. 24, 1868
Special tax bonds
-
43
Carolina Railroad
Railroad bds, not fund.
Due.
and by
J. & J. Bost.,Nat.Bk.Commonw’lth July 1, ’89-’90-JTOS
July, 1881 to’fflL
do
do
J. & J.
Jan., 1881 to *84
J. & J. Trenton and Jersey City.
6
Jan., 1886 to’SB
do
do
J. & J.
6
Jan.,’97 tolPOfc.
do
do
J. & J.
6
Oct., 1893
N. Y., Manhattan Bank.
6 g. J. A J.
July, 1887
do
do
6 g- J. & J.
Jan. 1,1883
do ’
do
6 g. J. & J.
do
do
July 1,1891
6 g. J. A J.
Oct. 1,1892r
do
do
6 g. A. & O.
1909
New York.
J. & J.
4
1868 to’98
do
Various
6
1883 to ’85do
6
Various
1868to’9S
do
6
Indefinite*
Raleigh, Treasury.
J. & J.
6
Oct., 1898New York.
A. & O.
6
1898 to’99
do
A. & O.
6
July, 1881
J. & J. N. Y., American Exch. B’k.
6
Jan., 1887
do
do
J. & J.
6
Feb. 1,1903
F. & A. Phila., Farm. A Mech. B’k.
5
Aug. 1,-190*
do
do *
F. & A.
4
July, 1882
do
de
5 g. J. & J.
July. 1882
do
do
4*flg. J. & J.
Feb., 1892
do
do
F. & A.
6
Feb., 1882-1892do
do
F. & A.
5
1882
do
do
F. A A.
6
1922
Harrisburg Treasury.
6
Sept. 1, 1882
M. & S. Providence, R. I. H. A T. Co.
6
April 1,1883:
do
do
A. & 0.
6
July 1, 1893
do
do
J. & J.
6
Aug. 1, 1894
do
do
F. & A.
6
At pleasure.
3 g.
Q.-J. Columbia, State Treasury.
1877 to ’88
do
do
6 g. J. & J.
1871 to ’80
do
do
J. & J.
6
6 g. J. & J. Columbia and New York. July 1,1887 to >93
Columbia, Treasury.
July 1,1875 to *7»
6 g. J. & J.
July 1,1888
6 g. A. & O. Columbia and New York.
July 1,1888
do
do
6 g- A. & O.
July 1,1889*
do
do
6 g. J. & J.
July 1,1882*
do
do '
6 g. J. & J.
do
do
6 g- J. & J.
July 1,1868London.
5 gQ.-J.
July 1,1868 Columbia.
6 gQ.—J.
1888
J. & J. Columbia A Fis. Agen. N.Y.
7
6
J. & J.
July 1,1893i
New York or Columbia.
J. & J.
^ 6
July 1,1893.
do
do
6
J. & J.
6
5
....
8798177881118769.
j
Under Art.
Canal debt, < gtitution,
and
Payable
♦
Principal—Whtm
Where Payable
Whom.
When
Rate.
)
Loan of 1879
Prison loan
Hew Jersey—War loan bonds,
War loan bonds, tax free
do
do
taxable
New York—
(
a
Value.
explanations see notes on first page of tables
New
Size or
par
1874
Various.
-
m
-
m
m
1872
1871
1872
1874
1876
1879
1862
1851 to’66
1851
1871
1871
1872
1871
1879
1879
....
44,000
11,366,000
1,000
1,000
100
100
100
100
4,072,640
Ac.
&c.
Ac.
Ac.
2,400,000
8,000,000
2,000,000
1,000
1,000
395,000
87,000
9,251,850
814,300
321,750
500,000
965,000
200,000
1,000
631,000
1,000
738,000
1,000
1,000
50 &c.
50 &c.
50 &c.
....
Various
Various
1,000
50,&c
1,000
1,000
1,000
500,Ac.
500,&c.
500,Ac.
’
....
....
....
Various
Various
500 Ac.
1,000
1,000
1,000
....
1,000
1,000
1,000
1,000
100 &c.
500 &c.
500 Ac.
£100 Ac
100,Ac.
100,&c.
100,Ac.
Various
....
4,023,000
149,254
1,000,000
4^797^608
4|8671000
14,957,300
397,000
75,000
692,000
500,000
1,000,000
1,647,000
533,700
135,500
4,689,119
2,209,207
13,700,000
819,547
2,819,547
15,239,370
8,000,000
400,000
=•
^
6
5 & 6
6
6
7
7
7
6
5
6
6
5
6
6
6
’
g.
M. &
g.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
g.
g-
6
3 to 5
3 to 5
July 1, 1914_~
J. A J. N. Y., Fourth Nat. Bank.
do
do
J. & J.
J. & J. N. Y., Fourth Nat. Bank.
State Treasury.
Various
8.
N.Y.,
1875 to 1900-^
Various.
1891
1911
1892
Donnell,LawsonA Co.
do
do
& J.
do
do
& J.
A J. New York A State Treasury.
do
do
A D.
Montpelier, Treasury.
A D.
New York.
A J.
London, Baring B. A Co.
A J.
Richmond, Treasury.
A J.
do
A J.
do
A J.
A J.
A J.
A J.
March 1.1904-
July, 1900
1909
Dec. 1, 1890
1886 to’95.
1886
1905
1905
Contingent
1919
1919
South Carolina.—The funding law of Dec. 22,1873, provided for seaL.
created for war purposes.* Sinking funds ing down the old debt 50 per cent. The question of the validity of confesiOf the first class of bonds the prmcipal bonds went before the State Supreme Court. See decision V. 29, p. 358*.
New Jersey.—The debt was
m. 1,1880, were $1,428,545.
Jan
is payable $100,000 per year.
Valuation of real property in 1879,
531,851,849 in 1878. State tax was 3*2 mills, but the Governor’s mes¬
S426,953,103;
sage says the tax may be abolished in 1880. * (V. 28, p. 58.)
New York.—Valuations and tax rate for State purposes have been:
personal, $129,809,670; total, $508,892,338, against
The debt is in process
of change into new
Valuations ana rate of tax per $1,000 have
Years.
Real Estate.
Personalty.
$86,896,002
$48,839,061
consolidated bonds (bro^njt-
been:
Total Val’tion. Tax Rate..
$135,735,863
41,604,113
132,237,986
43,967,758
76,583,866
120,551,624
18, 378, 402; V. 29, p. 358, 383 ; V. 30, p. 118.)
85,633,873
A
2%4.%
Personal.
Real Estate.
State Tax.
$2,108,325,872
$357,941,401
—(V. 28, p.
2,376,252,178
379,488,140
2,373,418,490
364,960,110
Tennessee.—New funding bill was given in Vol. 28, p. 353. The total'
iiS1000 debt
2,333,669,813
353,469,320
January, 1879, was $20,221,300 in outstanding bonds, and $4,156,—
522 in overdue interest; there were also $416,000 bonds yet to b«r
Noi'th Carolina—Interest is paid on bonds issued to No. Carolina RR. renewed
and $373,000 yet to be registered. The State’s endorsements
($2,800,000), as the State holds $3,000,200 stock and receives dividends for railroads are $1,308,000, which is taken care of by the roads. Ten¬
thereon. The funding bill of Feb., 1879, provides for funding old antenessee bonds sold in New York as •* old,” are those issued before 1862;
war bonds at 40 per cent of the face value; “ New ” railroad bonds recog¬
“New,” issued since 1862; “New Series,” the new funding bonda.
nized as valid at 25per cent; funding bonds of 1866 and 1868 at 15 per Assessed
valuations and tax rate per $1,000 have been:
cent. Nothing for overdue coupons. Coupons of the new bonds are re¬
Real Estate.
Personalty. Tax Rate*
ceivable for taxes, the first coupon of 2 per cent being payable Jan., 1881. Years.
$239,370,485
$28,632,000
$4
Special tax bonds are ignored, and also bonds to Chatham RR. 1868,
212,589,045
24,319,803
1L
$1,030,000, and to Williamston A Tarb. RR., $150,000, and for Peniten¬
202,340,815
ll
20,871,338
tiary under acts of 1868. Assessed valuation of real estate is about 60
196,165,644
1
16,952,036
per cent of true value. Valuations and tax rate per $100Ahave been:
Years.
Real Estate.
Personalty. TotalValuation.Taxpr. $100 —(V. 28, p. 174,200,277,353, 429,454, 526, 580; V. 29, p. 226,272, 278
$92,158,245
$54,212,248
$146,370,493
38 V. 30, p. 467.)
1878
91,079,834
51,228,268
142,308,102
38
Texas.—The old high-rate bonds have been redeemed and low-interesfc
1879
157,967,481
3213 bonds issued. Assessed valuations and rate of tax per $1,000 havehecur;
—(V. 27, p. 678 ; V. 28, p. 69, 200, 327.)
Years.
Real Estate.
Personalty.
Total Val’tion. Tax Rate$174,324,176
$83,307,833
$257,632,009
$5
Ohio.—Ohio has a very small State debt, but large local debts, amount¬
212,698,432
106,237,273
318,935,706
.&
ing in 1879 to $41,490,574, against $25,957,588 in 1875, this increase
187,722,374
115,480,050
303,202,424
5*
being mainly in Cincinnati debt. Valuations in Ohio have been as follows:
186,297,495
114,227,912
300,525,407
5
Real estate.
Personalty.
Real estate. Personalty. -(V. 30, p. 314.)
1860
$248,408,290
$639,894,314
1877.$1,084,455,378 $490,190,387
Vermont.—Of the registered bonds $135,500 are held for Agricultural'
1866.. 663,647,542 442,561,979 1878 ..1,091,116,952 461,460,552
1876.. 1,076,788,367 520,681,599 1879 ..1,093,768,904 442,979,885 College. Assessed value of real estate, 1879, $71,017,881; personal^
$15,375,533; tax rate, $4 per $1,000.
State tax rate, 2910 mills. (V. 28, p. 69 ; V. 30, p. 466.)
Virginia.—The law of April, 1879, for refunding the debt, is given in.
Pennsylvania.—Sinking fund, $8,504,899. Revenue is raised prin¬
cipally from corporations. Taxes are levied on personal property, which Chronicle, Vol. 28, p. 353. The new bonds are 10-40 year bonds, and
The State holds $1,754,331 in bear 3 per cent for 10 years, 4 per cent for 20 years, and 5 per cent feewas assessed in 1877 at $159,318,817.
stocks and $7,900,000 of railroad bonds. Any coupon bonds may be 10 years, coupons tax-receivable.
Assessed values in 1878 were:,
total, $316,changed to registered. The bonds due in 1882 are payable at any time real estate, $242,702,503; personal, $73,984,368;
till 1892. (V. 28, p. 43, 149, 600; V. 29, p. 192, 330.)
686,872. Tax rate, 5 mills. The Governor, in January, 1880, figured
the net revenue for 1879-80 at $2,586,078, leaving $1,397,517 to pay
Rhode Island.—The debt was all created for war purposes. In Jan., the interest of $1,075,735 on all tne debt if funded under act of 1879*.
1880, the net debt, less sinking fund, was $1,828,013. The State valua¬ (V. 28, p. 44, 7C^ 97,121, 147, 174, 328, 358, 429; V. 29, p. 198, 331*.
tion of real property in 1876 (the latest made) was $243,658,190,
505; V. 30, p. 163, 223, 454.)
and personal, $84,872,369; tax rate 1879,12 cents on $100.
lie2*
1876
1877
1878
1879
..
,
,
8
CITY
Subscribers will confer
a
Date of
Size
»
New Post Office site
5s, due 19
High School
Water stock
Addit’nal supply ($400,660 due 1566-3,ai
Western Avenue improvement bonds
Bonds loaned to Albany & Susquehanna
outstanding.
$1,000
$150,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
448,000
664,000
113,000
70,000
230,000
900,000
165,000
1,000
1,000,000
436,000
•
1877
1865
Atlanta, Oa.—Bonds for streets,&c
’66-’67-’72 500 &c.
1869-’70
1,000
1872 & ’77 500 &c.
1874
1,000
1S77
500 &c.
1875
1,000
Various.
250 &c.
Various.
100 &c.
1877
100 &c.
1878
100 &«.
1863
100 &c.
1865
100 &c.
1860
100 &e.
1863
100 &c.
1853
100 &c.
1853
100 &c.
1868
100 &c.
1870
100 &c.
1874
100 Ac.
1864
100 &c
100 &c.
Bonds. A. L. Railroad for and State Hous
Bonds for West. RR. and floating debt...
Bonds, 1st and 2d series, waterworks....
Redemption bonds...
do
Augusta, Ga.—Bonds for various
value.
1866
1870-’71
1870-’78
1874
1875
1851 & ’52
1874-’77
Amount
or
par
For explanations see notes on first page of tables.
are
purposes.
400,000
418,000
430,000
77,000
52,000
2,033,000
7,306,546
5,000,000
1,000,000
2,211,068
410,353
555,566
185,723
5,000,000
1,000,000
1,000,000
1,000,000
190781 78 6879.,
Baltimore—Consolidated loan of 1890
Water loan, reg. stock, red. at will after
Funding loan, reg. stock, tax free
Consolidated bounty loan
Exempt bounty loan
Public parks (Druid Hill)
Park improvement loan
New
do
do
City Hall
do
do
J
Consolidated loan
Court house loan
Funding loan
1870
1872
1872
1873
Western Maryland Railroad
Jones’ Falls ($334,000 are 5s)
Valley Railroad
Water loan ($263,000 only
are
6s)
1874
Endorsements for Western Maryland RR....
do
do ‘ Union Railroad
Bangor, Me— City debt
Municipal loan
,
Bangor & Piscataquis Railroad
BathtMe.—Fund, debt ($24,500 are 6s, ’87, J.&J.
800,000
1,000,000
1,134,600
1,015,300
4,815,800
1,375,000
117,000
136,000
100,000
500,000
100 &c.
•
1874
1875
1869
1869
943,161
85,900
m'mmm
1858 to ’72
proper
500.000
100 &c.
100 &c.
100 &c.
m
Water loan bonds, coup. (Act Feb. 22, 1875)
European & North American Railroad
•
•
•
m
m
m
100 &c.
1,000
500 &c.
1,000
1,000
1,000,000
925,000
102,500
Various.
Various.
Various.
Various.
Various.
Railroad loan
Androscoggin Railroad
1861
Knox & Lincoln Railroad ($23,750 each
1869
year)
do
do
(F.&A. and M.AS)..
1871-’72
Boston— For city purposes, war debt, <fcc...
1852 to ’64
1,000
For city purposes
1864 to ’80
1,000
do
do
registered
1878-’79
do
do
do
1879
Burnt district, sterling loan
1873
4J100&C
Consolidated street improvem’t, sterling 1
1869
jBlOO&c
Roxbury debt, assumed
1860 to ’64
1,000
Dorchester debt, assumed
1861 to’69 Various.
Charlestown debt, assumed
1862 to ’73 500 &c.
Mystic water debt, assumed..
1862 to ’76
1,000
Brighton debt, assumed
1868 to ’73 Various.
West Roxbury
Various.
debt, assumed
Water loan, Chestnut Hill reservoir
1867 to ’71
1,000
do
renewal of loan due ’70-71, all reg.
1871
do
do
’72-73
1872
£100 &c
1868 to ’70
1,000
do
Roxbury & Dorchester....
1871 to ’74
1,000
do
Dorchester, all registered.
1871
do
1875 to ’77
do
do
1876
reg
Additional supply water
1872 to ’75
1,000
do
do
registered
1878-9
do
do
do
1878
do
do
do
1879
Various purposes, for water works
1871 to ’74
1,000
Water loan bonds, gold, coupon or
1875-’7G
1,000
reg
Public park and school buildings, registered..
1877-’78
Improved sewerage, registered
1877-’78
Improved sewerage bonds, coup, and reg
1878-’79
loo’ &c.
Bro*xli/ti—Debt of Williamsburgh, local impr’t 1859 to’61 1,000
Brooklyn local improvement loan
1861
1,000
Mount Prospect Square loan
1857
1,000
Soldiers’ aid fund loan.
1865
1,000
Third street improvement loan, local.
1867
1,000
Gowanus canal improvement loan, local
1866
1,000
Bushwick avenue
do
do
do
1865
1,000
m
m
m
m
•
«
•
.
193,000
425,000
475,000
420,600
3,179,500
10,745,000
516,000
450,000
4,997,604
„
_
m
m,
•
•
•
^
1,725,000
688,000
1,947,273
385,000
415,000
375,000
360,000
100,000
648,000
670,000
*
•
•
*
12,000
•
268,000
426,000
3,452,000
550,000
368,000
•
.
lj200,000
*
..
Atbaiiy.—The loan to Albany & Susquehanna is secured by first mort¬
gage. The valuation of city property in 1878 was: Real estate, $32,594,090; personal, $3,748,800, estimated to about one-third of true value.
City tax rate 1879, 2*84, against 3-20 last jrear.
Atlanta—The total bonded debt Jan. 1, 1879, was $1,815,500;
floating
debt, $382,415. Assessed value of real estate in 1878, $12,230,000;
personal, $5,766,530. Tax rate for all purposes, $2 30 per $100.
Augusta.—Of this debt, $600,000 was issued for railroads, and balance
for canal enlargement, water works, &c.
Sinking funds, May 1, 1880,
$117,750. Taxable valuation in 1880: Real estate, $9,010,960; per¬
sonal, $5,028,107; tax rate, $1 58 per $100. (V. 28, p. 17.)
Baltimore.—The fiscal year of Baltimore ends now with December
31,
instead of October 31. The total of all sinking funds,
January, 1880,
was $7,091,719.
The Baltimore & Ohio Railroad pays interest on
$5,000,000: Water loan is paid by income of water works, and Public
Park by City Passenger Railway, and against a total debt of
$35,023,798,
the city has $18,915,623 productive assets, leaving
$16,108,174, against
which are held $4,807,472 of unproductive assets
; interest is raised by
axation on $13,119,953 of debt. Population in 1870 was
267,354, against
212,418 in 1860. The assessed valuation and rate of taxation have been;
Real
Personal
Total
Rate of Tax
Years.
Estate.
Property.
Valuation.
per $1,000.
$71,000,000
$231,365,863
$19 72*2
38,000
213,000
90,000
552,000
302,000
188,000
183,000
I
Payable i
When
F. & A.
M. & S.
Principal—When
■B
Where payable and by
whom.
7
7
6
6 & 7
6
6
8
7
8
7
8
10
7
6
5
M.
M.
F.
F.
F.
M.
J.
J.
J.
J.
J.
M.
New York.
do
6
5 g.
4*2
5
4
6
7
6
7
6 & 7
7
7
May l, 1904
May 1,1880 to’85
Feb., 1881
A.
do
Feb. 1,1893-1912
A.
do
Feb. 1.1883-4-5
N.
New York.
1895-’97
J. Atlanta & N. Y. Park Bank.
1881,’86 & ’92
J.
do
do
J. & J., 1890
J.
do
do
J. & J., 1902
J.
do
do
Jan,1, 1904
J.
do
do
Jan. 1,1897
S.
do
do
Sept. 1,1885
M. & S.
M. & S.
Q.-M.
Q.-J.
1880 to 1904
July 1,1890
July 1,1916
After July, 1916
Sept. 1, 1893
Sept. 1, 1893
Sept. 1, 1890
Jan. 1, 1*895
Jan. 1, 1890
Jan. 1, 1886
do
do
Balto., N. Mechanics’ B’k
do
do
do
*
do
do
do
Q.-J.
Balto., Farm. & Plan. Bank.
& J. Balto., N. Mechanics’Bank.
Q.—J. Balto., Farm. & Plan. Bank.
July 1, 1884
do
do
Q.-J.
April 15, 1900
do
Q.-J.
do
March 7, 1902
do
do
Q.-J.
After 1885
Q—J. Balto., N Mechanics’ Bank.
At will.
Q.-J. Balto., Farm. & Plan. Bank.
July 1,1900
J. & J. Balto., N. Mechanics’ Bank.
Jan. 1,1902
do
do
Q.—F.
April 9, 1900
A. & O.
do
do
Oct. 31,1886
J. & J. Baltimore.Register’s Office.
July 1, 1894
J. & J. Balto., N. Mechanics’ Bank. Jan. 1 ’90 & 1900
J. & J. Baltimore, Franklin Bank.
Jan. 1,1895
Various Boston, Merchants ’ N. B’k.
1880 to ’92
J. & J.
Boston or Bangor.
Jan. 1,1894
J. & J. Boston, Merch’ts’ Nat. B’k.
July 1, 1905
J. & J.
do
do
Jan. 1, 1894
A. & O.
do
do
April
1. 1899
M. & S
City Treasury.
1887 & 1898
Various
do
’83, ’85 & ’98
A. & O City Treasuryand Boston.
April 1, 1891
J. & J.
do
do
July 1,1880 to’99
Various
do
do
1891 & 1902
Various Boston, Treasurer’s Office.
1880 to ’87
Various
do
do
1880 to ’97'
Various
do
do
1887-’89
A. & 0.
do
do
Oct., 1889
A. & O. London, Baring Brothers.
April, 1893
J. & J.
do
July, 1899
Various Boston, Treasurer’s Office
1880 to ’84
Various
do
do
1880 to’81
do
Various
do
1882 to ’93
do
Various
do
1881 to’94
Various
do
do
1880 to’81
Various
do
do
1880 to ’91
do
Various
do
1S80 to 1901
A. & O.
do
do
April, 1901
A. & O. London, Baring Brothers.
Oct., 1902
Various Boston, Treasurer’s Office.
1880 to ’99
do
Various
do
1901 to 1903
J. & J.
do
do
Jan., 1901
Various
do
do
1905 to 1907
A. & O.
do
do
April, 1906
Various
do
do
1902 to 1905
A. & O.
do
do
1908-1909
A. & O.
do
do
1908
A. & 0.
do
do
Oct., 1909
Various
do
do
1901 to 1904
A. & 0.
do
do
1905 & 1906
do
Various
do
ily & Oct., 1887
A. & O.
do
do
Oct., 1897
J. & J.
do
do
Jan. 1, 1899
J. & J.
1880 to ’81
Brooklyn. 1 2 d r
M. & N.
do
1891
J. & J.
do
1887
J. & J.
do
1885 to ’94
}■ a
^
J. & J.
do
1881
J. & J.
do
1880 to 90
J. & J.
do
1880 to’90
O
PQ t
J.
„
4*2
4*2
A.
M.& N.
6
6
5 g.
6
4
6
6
5 g.
6
6
6
5 & 6
5 g.
6
4
5
19L0-’20
do
do
do
Augusta.
Balto., Farm. & Plan. Bank.
M. & N. Balto., N. Mechanics’Bank.
6
6*2 & 7
March, ’80 to 1900
Q.-J.
6
6
6
6
6
6
6
6
6
5
5
6
6
5& 6
6
5 & 6
6
6
6
6
6
6
6 & 7
5 & 6
6
6*3 & 7
N.
N.
Various
5
7
5 & 6
5 & 6
&
&
&
&
&
&
&
&
&
&
&
&
ue.
Boston, Merchants’ Bank. Feb., 1885 to ’94
5, 6 & 7 Various
5, 5*2, 6
....
•
6
7
287,000
1,060,000
®
Rate.
5 g5 g.
1,153,000
57,141
330,000
•
INTEREST.
*
3,332,107
68,500
„
m
-
$163,543,890
[Vol. XXX.
great favor by giving immediate notice of any error discovered In these Tables.
DESCRIPTION.
City improvement
Washington Park ($40,000
SECURITIES.
•
—
£fa
J
£
Bath, Me.—The city holds a first mortgage on the Androscoggin road
for the debt, and second and third mortgages on the Knox & Lincoln for
its proportion of $895,000 out of a total or $2,395,000 bonds issued
by
several cities in aid of the latter road. Tax
valuation, 1877, $7,267,690;
tax rate, $24 50 per $1,000.
Boston.—The population of Boston in 1870 was
292,497, against
177,840 in 1860; in 1875 it was 341,919. The total funded debt April
30,1879, was $42,359,816.
The tax levy is divided as follows: State,
$206,370; county, $369,200; city, $6,916,940. \ The rate on $1,000 is
divided as follows: State, 20 cents; county, 46 cents;
city, $11 84.
The total number of polls is 89,450, a gain of3,539.
Assessed Araluation
for five years have been:
Years.
1875
1876
1877
1878
Real
Estate.
Personal
Tax
Estate.
Rate.
$558,941,000
Net Debt.
$235,020,895
222,838,310
205,433,386
190,070,966
183,467,300
$13 70
$27,294,208
27,052,778
27,480,524
26,159,777
26,229,666
526,157,900
481,407,200
440,375,900
428,786,300
—(V. 28, p. 145.)
Brooldyn.—The whole city debt
and 1880:
Permanent debt
Water loan
was as
12 70
13 10
12 80
12 50
follows
on
January 1,1879
$18,185,000
$18,693,000
1879.
1880.
t
11,216,500
11,216,500
228,816,110
19 72*2
debt
:
9,756,000
9,688,000
256,105,341
19 72*2 Temporary
Tax certificates
3,100,000
3,120,000
249,266,595
19 00
244,043,181
15 00
Total
.'
$42,257,500
$42,717,500
252,900,000
13 70
Less sinking fund
—Assessed valuation is near the full cash value. (V. 29,
4,781,978
5,152,130
p. 562.)
Bangor, Me.—The loans to Eu. & No. Am. R. R. to Bangor & Pis. R. R.
Total debt
$37,475,521
$37,565,369
are secured by first
mortgages on those roads, and interest mostly paid
Population in 1870, 396,200, against 266,661 in 1860. Valuation of
from the earnings. Valuations
(near full value) and tax rate have been: property and tax rate per $1,000 for five years have been:
Years.
Real Estate.
Personalty.
Tax rate. Years.
Real.*
Personal.
Rate.
$6,804,217
22*50 -1.875
$3,664,939
$208,904,750
$16,287,125
$34 27
6,703,527
3,202,573
30*25
213,134,543
13,878,580
32 54
1878...,
6,598,927
3,043,534
21*33
216,481,801
13,111,215
34 72
6,381,853
22*50
2,692,211
218,373,093
14,968,911
27 00
—Municipal property, including water works, about $800,000
,
221,000,000
11,900,000
25 50
162,539,157
178,572,032
179,958,592
1S3,580,023
187,387,000
70,000,000
77,533,309
70,308,003
60,463,158
65.613,000
CITY
June, 1880. j
Sjiibscrlbers will confer
a
SECURITIES.
9
great favor fry giving immediate notice of any error discovered. In tliese Tables.
DESCRIPTION.
Date of
For explanations see notes on first page of tables
Bonds.
Size or
par
Value.
I
INTEREST.
Amount
(outstanding
Rate.
When I
Payable j
Where Payable and by
Principal—When
lp;
Due.
Whom.
Brooklyn— ( Continued )—
South Seventh st.improvement loan, local
Union street
do
do
do
Fourth avenue
do
do
do
1866
1867
1862 & ’6'
do
\ do
1867
WallaboutBay
New York Bridge loan, registered and coupon
1870
Bonds for N. Y. & Brooklyn Bridge, cp. orreg.
1876-’79
Prospect Park loan, registered and coupon
L860 to ’73
Prospect Park loan
1860 to ’72
Permanent water loan
1857 to ’72
do
do
1872 to ’75
Sewerage fund bonds, continuous, local
1877-8-9
*
do
do
S’th B’klyn 1877-8-9
Assessment fund bonds, continuous, local
1877-8-9
Central and Knickerbocker av. sewer bonds..
1870
Boulevard bonds
1873
1876 to ’78
Temporary tax certificates
Buffalo, N. Y— Funded debt bonds
1853 to’75
Buffalo & Jamestown Railroad
1873 to’75
Buffalo New York & Philadelphia Railroad... 1871 to ’73
Waterworks bonds
1868 to ’76
Water bonds, coupon
1876
Park bonds (Act May 17,1875).
1876
Tax loan bonds
1876-77-78
Water bonds, reg
1878
Bonds, coup, or reg
1879
Cambridge, Mass.—City bonds
1858 to’63
City bonds
1864
do
1863
do
1856 to ’76
do
1873-’74
do
1874-5
Water loan
1866
do
1866 to ’77
..
.
....
....
$1,000
1,000
1,000
1,000
1,000
$218,000
•
618,000
842,000
3,120,000
6545760781 778811
do
do
do
1865
1867 to ’75
1869-71
Charleston, S. C— City stock
City bonds, coupon
l’oob
1,000
1,000
100,000
100,000
500 &c.
500 &c.
500 &e.
1,000
500 &c.
1,000
1,000
1,000
1853 to ’54
1866
Fiie loan bonds, coupon
Conversion bonds, to redeem past-due debt...
do
coup, or reg. (non-taxable)
Chelsea, Mass— Funded debt, coup
Funded debt, coup
do
Water loan, coup
•
1879
100 &c.
1,000
1,000
1,000
1,000
500,&c.
1,000
1,000
Chicago—\V ater loan
Water loan
Sewerage bonds
do
500 &e.
River
improvement bonds
Municipal bonds
Municipal and School bonds
1,000
1,000
South Park loan (secured on South. Div.)
West Chicago Park (secured on West. Div.)...
Cook County debt
Cincinnati- Loans to Railroads.F, A, G,H,I& M
Bonds to 0.& M. RR. to purchase whf. prop.N
Bonds for erection of a Workhouse
Bonds for Water Works
C2&C3
Bonds for Common School purposes
P
Bonds to O. & M. RR. to purchase whf. prop. .N
Bonds for ext. ana impr. Water W..C, D. &E
Bonds for fundiug floating debt
A2
Bonds for new Hospital
S&S2
Bonds for funding floating debt
L
Extension and improve. Water Works.. .K &F
Bonds to purchase Orp’n Asyl. grds. for park.O
Bonds for
.R
sewerage
Bonds for improving Gilbert avenue
U
Bonds to build Eggleston avenue sewer... .B3
Bonds for improvement
W
Bonds for Water Work purposes
C4&C5
General improvement
W2
Cincinnati Southern RR
do
do
do
do
($3,142,000 are gold 6s)
do
do
Floating debt bonds,
coupon
Park improvement
Water-works bonds....
Bonds for McLean Ave.
sewer
Hospital bonds
Street improvement bonds, short
Dl
U2
500 &c.
1870
1863 to
1844 to
1855
1868
1*000
500 &c.
1,000
1,000
1,000
1,000
1,000
1,000
1868
1860 to ’61
1855
1847 to ’50 500 &c.
1847 to ’48 500 &c.
1867-’68
1,000
1853
1869
1,000
1,000
1,000
1,000
1869
1,000
1869
1871
1,000
1,000
1,000
1,000
1853
1858
1871-’72
1871
1872-’74
1874
1876
1878
1874
1875
1875
500 &c.
1,000
500 &c.
1,000
1,000
1,000
1,000
1,000
1876
1876-’77
3 years
&
& J.
Buffalo and New York.
Buffalo.
Buffalo and New York.
do
do
N. Y., Gallatin N. Bk.
Buffalo & New York,
do
do
do
do
do
do
-
„
210,000
250,000
300,000
99,000
195,000
397.500
146.500
Various
M. & S.
M. & 8.
M. & S.
7 3-10 ,A.
M.
F.
J.
J.
J.
M.
M.
M.
J.
F.
M.
M.
do
N.
&
&
&
&
&
&
&
..
$8,844,705
7,947,380
of Erie county debt.
$12 43
17 60
Coupon
June & Oct., 1900
March, 1908
Y., Am. Exch. Nat. Bk.
do
do
Sept., 1899
Sept., 1899
do
do
Oct., 1899do
S.
do
March 1,1886
A.
do
do
Aug., 1886-’97
D.
do
do
Dec. 1,1891
J.
do
do
July 1, 1902
J.
do
do
July 1, 1902
N.
New York or London.
May 1, 1906
N. N. Y., Am. Exch. Nat: B’k. Nov. 1, 1908-’09
N.
do
do
May 15,1904
J.
do
do
Jan. 1, 1896
A.
do
do
Aug.,’85, ’90 &’95
N.
do
do
May 1889-1909
N.
do
do
May 1, 1906
1880 to’83
& O.
&
&
&
&
&
,
Years.
Buffalo.—In 1875
Years.
1877
$91,130,870
1878.
80,929,165
Buffalo also pays 7-10 (being
$712,390)
bonds are exchangeable for registered.
do
Cincinnati.
$39,968,105; in 1876
$111,995,905.
from date.
1880
1875
1878-1881
1879 to 1895
1893 to 1895
1881 to 1893
1879 to 1926
& J.
July 1, 1896
& 8.
Prior to 1936
& J.
July, 1879-’83
& S.
Sept. 1, 1898
Various
1899
Various Boston, Bank Redemption
1879 to 1882
A. & O.
do
do
April 1,1889
J. & J.
Boston, Tremont Bank.
Jan. 1,1893
J. & J. Boston, Bank Redemption. Jan. 1,1881 to ’96
J. & J.
do
do
Jan. 1, 1903-4-5
A. & O.
do
do
Apr.& Oct. l,’84-5
J. & J.
do
do
July 2,1886
J. & J.
do
do
July 1,1881 to ’97
F. & A.
do
do
Aug. 1,1883
A. & O.
do
do
ApL 1,1887-1895
M. & N.1
do
do
May, 1889-1891
Charleston.
1878 to ’98
Q.-J.
Various
do
1883 to ’84
J. & J.
do
1890
A. & O.
do
J. & J.
do
‘*1909
A. & O. Boston, N. Bk. Redemption
1879 to 1883
Various
do
do
1879 to 1895
F. & A.
do
do
Feb. 17, 1883
F. & A
do
do
Aug. 1,1887-’95
& J.
New York and Boston,
1880 to ’98
& J.
do
do
July 1, ’82 to ’9o
J. & J.
do
do
July 1,1880
& J.
do
do
1880 to ’95
J. & J.
do
do
1890 to ’95
J. & J.
do
do
July, 1895 & ’96
J. & J.
do
do
1881 to ’99
& J.
do
do
(V
& J.
New York (see remarks.)
1890
M. & N. N. Y., Metropolitan Bank.
May 1,1880-’92
Various N. Y., Am. Exchange Bank,
1880 to ’84
M. & N.
do
do
Nov., 1885
J. & D.
do
do
June, 1888
do
Various
do
1888 & 1889
J. & J.
do
do
Jan., 1890
M. & N.
do
do
Nov., 1890
A. & O.
do
do
April 1,1895
M. & N.
do
do
March, 1897
Various
do
do
1897
J. & J.
do
*
do
Jan., 1900
100,000
200,000
624.500
3,625,000
87,000
2,543,000
2,611,000
195,000
3,408,000
2,000,000
640,000
4.191.500
1,062,000
real and personal property was assessed at
rule of valuation changed and assessment was
Since that date valuations have been:
Tax Rate
Real estate.
Personalty, per $1,000.
to’90
3 years from date
3 years from date.
J.
M.
J.
M.
3,235,900
149,000
1,170,000
The debt of Kings County, separate from the debt of
Brooklyn, is
about $4,000,000, of which the city is responsible for nineteentwentieths. (V. 28, p. 41.)
to ’90
to ’86
to ’95
1901 to ’24
1907 to 1912
1915 to ’24
1915 to ’24
1881 to 1908
Various
Various
Various
Various
704,632
50,000
175,000
99,000
100,000
150,000
1,597,000
689,000
514,000
100,000
774,000
55,000
485,000
162,000
1,603,150
51,500
231,400
500,000
750,000
60,000
175,000
100,000
150,000
150,000
100,000
136,000
450,000
600,000
580,000
9,237,000
5,078,000
2,000,000
1,000,000
50,000
300,000
175,000
50,000
395,291
1880
1880
1880
1880
& J.
J.
2,099,250
1,000,000
700,000
2,729,382
1,000
1,000
J.
J.
J.
J.
J.
J.
J.
1,650,000
100,000
4,530,000
1,000
1,000
1000 &c
500 &c.
J.
1,217,000
9.777.500
1.439.500
1,000
& J.
& J.
& J.
& J.
& J.
& J.
& J.
& J.
& J.
& J.
& J.
& J.
J.
J.
J.
J.
406,000
3,000,000
5,150,000
8.019,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
...
J.
J.
260,000
346,000
Assessed Value.
Real Estate.
Personal.
Tax
Rate.
.
.
$253,557,900
$38,061,170
$29 40
131,222,460
116,082,533
36,815,718
32,317,615
27,561,383
24 08
27 40
28 60
104,420,053
‘
The assessed value of real estate is about one-half of its true
value,
Population in 1870 was 306,605, and in October, 1878, 436,731, against,
109,260 in 1860. The South Park, West Chicago Park and Lincoln Park,
loans
not debts of the
city, but of distinct corporations. (V. 28,
Cambridge, Mass.—The sinking funds amounted to $605,281, Novem¬
ber, 1879. The investments are nearly all in city bonds at par and
Cincinnati.—In addition to the issues above named there remains
stamped “ not negotiable. Only $52,000 debt matures before 1881. several smaller amounts, as follows: $108,000 5s, November, 1884 ;
Tax valuation, 1875, $66,623,014; 1877, $55,000,000;
1879, $49,238,- $56,000 (YY2, & O.) 6s, 1886-88; $17,000 6s (Q.), November, 1890;
098. Total debt, November, 1879, $3,254,000.
Population, 1875. 47,838. $27,000 6s (A.), March, 1897; $50,000 (H2.), August, 1897.
holds
Charleston, S. C.—The bonds of Charleston are mostly held within the $950,000 of Cincinnati Southern bonds in sinking funds. InCity
1870 the
State of South Carolina. Conversion bonds of 1879 are issued in
population was 216,239, against 161,044 in 1860. The following table
exchange for city stock. Assessed valuations and tax rate have been:
from the books of the Auditor of Hamilton County, Ohio, exhibits the
Real
Personal
Rate of Tax assessed valuation of the city of Cincinnati in the year 1860, and from
1870 to 1879:
Estate.
Yeats.
Property.
per $1,000.
Rate tax
$18,805,480.
$9,000,990
$20 00
*
p.
are
223.)
'
18,669,623
18,313,450
17,137,255
7,922,155
22 50
8,108,706
22 50
6,272,458
20 00
Chelsea, Mass.—Sinking fund, January 1, 1880, $123,304, and cross
debt, $1,661,800. Tax valuation, 1879, $15,377,402; tax rate, $19 80.
Population, 1875, 20,737.
Chicago.—The net funded debt January 1, 1879, was $13,057,000.
Old certificates of indebtedness, ’$321,000. Advances and
warrants,
$2,210,401. -Assessed value of real property, 1878, $104,420,053; per¬
sonal, $27,561,383—total, $131,981,436. Tax rate, 1878, $2 86310 on
the Illinois State valuation, and the city debt is limited to 5
per cent of
that. A decision of the Illinois Supreme Court iu
February,
1878, held
the certificates of debt, issued prior to Map, 1877, as a violation of this
and void. A subsequent decision held' city scrip of 1878walid. Of the
landed debt, $4,248,000 is on account of the Water
Works, which in
1878 yielded an income of $897,176.
:
Real
Estate.
Years.
1860
Personal
Total
Valuation.
Estate.
$61,620,904
$31,411,912
78,736,482
123,427,888
119,621,856
121,479,280
123,231,790
125,976,835
127,143,900
129,043,880
57,370,754
56,934,044
55,462,410
64,166,460
$93,032,716
per
$1,000.
$17 45
31 60
22 20
20 10
23 06
23 38
28 82
27 04
29 10
28 54
136,107,236
180,361,932
175,084,296
185,645,740
58,708,284
181,950,074
58,521,730
184,498,565
183,952,966
56,809,066
43,830,188
179,430,142
1878...
172,874,068
1879
:.
169,305,635
The city is the sole owner of the stock of the Cincinnati Southern Rail
road, which is leased to a company formed to operate it. (V. 27, p. 04
172, 251, 280, 677; V. 28, p.024; V. 29, p. 17; V. 30, p. 465, 566.)
.
*
SECURITIES.
CITY
10
favor by giving Immediate
Subscribers will confer a great
[Yol. XXX.
notice of any error discovered. In
INTEREST. ‘
Jjaie 01
DESCRIPTION.
bonds.
Sfcr explanations see notes on first page of
tables.
Size
outstanding.
$....
[$1,275,000
1868 to’79
1872 to ’74
1874 to ’79
1864 to ’71
1868
Various.
6 p. et.)
-Canal and canal lock
School ,($294,000 are 6 p. ct.)
House or Correction
'-Main sewers, special assessment
"■Street improvein’ts do
Street damages, &c., do
1,534,000
315,000
275,000
355,000
184,000
493,500
830,300
1,066,300
Infirmary and River dredging
"Viaduct (mostly F. & A., A. & O. and
Des Moines, Iowa—Bridge bonds
Renewed judgment and loan fund
Funding bond fund
J. & D.)
Rate.
Public sewer bonds ($40,000 are
Bonds for purchase Belle Isle
6s)
JSUzabeth, N. J.— Improvement bonds
Funded debt bonds
School House bonds
Market House bonds
Consolidated improvement
Funded assessment bonds.
Tax arrearage
bonds
1876-77-78
1873 to ’78
1870
1875
1878
1855 to ’76
1859 to ’71
1872 to ’76
1879
1871 to ’74
1870 to’75
1872 to ’73
1865 to’66
1875-’76
bonds
1,000
1,000
1,000
1,000
1,000
128,000
2,135,000
174,000
do
""Water works bonds
Redemption bonds
do
do
do
do
do
do
229,000
175,000
1,000
1,000
1,000
1,000
1,000
<
r
„
1872
1873
FUehburg, Mass.—City notes
City bonds
1871
1875
purposes... 1869 to ’75
Water loan
300,000
300,000
105,000
100,000
100,000
280,000
250,000
600,000
400,000
200,000
372,000
850,000
50,000
400,000
300,000
100,000
418,200
408,600
35,000
414,000
50,000
125,000
475,000
202,000
do
'•Galveston, Texas- Bonds for various
limited debt bonds (sinking fund 2 per cent).
1877-8-9
1873
1876
& S. F. RR—
1,000
1,000
Hartford, Conn.—Water bonds
Water bonds
do
do
do
1,000
1,000
1,000
....
100 &c.
1,000
1,000
1,000
1,000
1,000
1,000
'City bonds (H. P. & F. RR.)
Park bonds (4 of these bonds are for $500 each)
Funded debt
•Capitol bonds.
1878-’79
Hartford town debts to railroads
do
do
war
funded debt
do
1871’74
1874
1872
1,660
1,000
1,000
1873
500
1869 to ’70
Tndianapolis—Bonds to railroads
1877
1,000
Bonds to Un. RR. Tr. Stock Yard (mortgage).
1873
1,000
Loan bonds, series A
:
1874
1,000
do
B
do
1874
1,000
do
C
do
1875
1,000
do
do
D
500
1874
Purchase-money bonds—Southern Park
1,000
-Jersey City—Water loan bonds, mostly coupon 1852 to ’67
1869 to ’73
1,000
Water loan bonds, mostly coupon
1877
1,000
do
do
do
1873
1,000
Forty-year bonds
1871
500 &c.
Improvement bonds
1872 to’76
1,000
do
do
1870
1,000
Morgan street dock
1872
1,000
Funded debt bonds
Various.
1,000
Old Jersey City bonds, coupon
Various. Various
Hudson City bonds
1869
l,000&c
Bergen school loan bonds
($60,000 are J. & J.).
130,000
205,000
271,000
250,000
226,500
155,000
500,000
300,000
300,000
300,000
200,000
109,500
■
1,163,000
3,109,800
416,000
622,000
1,869,000
2,161,500
125,000
500,000
860,400
-
162,550
150,000
Cleveland.—The sewer, street improvements and street opening bonds
for special local improvements, and redeemed by assessments on the
:»re
property benefltted.
funds have been:
Sinking
Funds, &c.
$1,863,736
X876
1,989,751
2,109,357
.1.878
1,816,690
1879
2,267,934
Des Moines, Ioiva.—Assessed value of property, $5,104,240, which is
mahout 50 per cent of true value. Tax rate, $5 per $100.
Detroit, Mich.—The population in 1870 was 79,601; in 1874, by
census, 101,083. The value of water works is $2,559,259, against
a debt of $1,400,000.
The water works bonds are issued on a pledge of
the city credit, and $75,000 per year collected in taxes to pay interest on
Assessed valuation, in 1879-80—real property, $63,981,315;
them.
personal, $19,216,725; total, $83,198,040, against $87,865,685 in 1878
and $93,709,375 in 1877, which is made on the basis of true value. Tax
rate, $1-03 per $100.
Elizabeth, N. J".—Default was made in interest February 1,1879, see
V- 28, p. 146. Suits on bonds are pending. Total bonded and floating
<deht January 1, 1880, was stated at $5,400,000. Estimated true value
-of real and personal property is $28,000,000.
Population in 1875,
25,000. Assessed valuation, tax rate per $1,000 and debt have been;
Years.
'
Real Personalty. Tax Rate.
Debt.
$16,768,950
266
$4,876,000
4,900,000
16,250,805
2*68
*.
5,130,000
15,289,888
2*50
14,614,918
3*56
5,380,000
Years.
....
-—Total Bonded Debt—>
General.
Special.
$5,160,000 $2,937,900
5,557,000
3,027,900
6,061,000
2,993,164
181520
6,678,000
171720
2,606,100
6,201,000
2,390,100
I5I20
Real
Tax per
Personalty.
$73,305,277
73,562,237
71,296,122
70,139,639
70,548,204
$1,000.
....
,
Assessed valuation, tax rate, debt and sinking
.
4*2
6
6
•
7
Years.
•
1893 & 1907
June, 1880
July, 1885
July, 1888
1879 to 1906
Bk.
1879 to ’91
1892 to’94
1899
1879 to’81
1880 to ’95
1881 to ’93
1879 to ’86
4885 to ’96
-
•
Co.
M.
M.
J.
J.
J.
A.
M.
J.
May 1, 1898
May 1, 1899
Dec. 1, 1890
Dec. 1, 1895
July 1, 1895
New York.
do
do
do
do
do
do
do
do
& N.
& N.
& D.
& D.
& J.
& O.
& N.
& D.
....
April 1, 1906
May 15,1906
June 1, 1907
April 15,1908
1881 to 1888
Various
City Treasury.
1880 to 1891
do
Various
Aug. 1, 1894
F. & A.
Boston, Revere Bank.
May 1,1895
M. & N. Boston, Bank Redemption.
Nov. 1,1879-1880
do
do
M. & N.
Nov. 1,1892-1906
do
do
M. & N.
do
do
Aug. 1,1899-1905
F. & A.
Nov. 20,1882
M. & N.
City Treasury.
July 1, 1893
J. & J. Boston, Merchants’ Bank.
July 1,1891
do
do
J. & J.
do
do
July 1,1895-1906
J. & J.
1880 to’91
Galveston.
Various
1907-1909
do
M. & S.
1893-1902
do
M. & S.
1906
New York.
J. & J.
June 1,1880
J. & D. Merchants’ Bank, Boston.
July 1, 1881
do
do
J. & J.
July 1,1890-’95
Phoenix Bank, Hartford.
J. & J.
Aug. 1. 1900
F. & A.
City Treasury.
June 1, 1904
do
J. & J.
June 1, 1891
Suffolk Bank, Boston.
J. & J.
F. & A. Merchants’ Bank, Boston. Aug. 1,1882 & ’84
Jan. 1, 1893
J. & J.
City Treasury.
Jan. 1, 1897
do
J. & J.
Town Treasurer.
J. <& J.
do
$10,000 yearly.
J. & J.
do
J. & J.
.
6 & 7
6
6
7
6
6
7*3
7*3
7*3
7*3
7*3
6
7
6
7
7
7
7
7
6 & 7
7
.
•
1880-’81-’82-’83
,
5 g.
6
6
6
6
7
6
6
6
10
8
8
10
6
6
6
6
5
6 '
6
6
6
130.000
300,000
1,000,000
1,250,000
•
5, 6,7
500,000
do
do
do
do
do
do
do
do
do
do
New York.
J. & D.
do
J. & J.
do
J. & J.
Various N. V., Metropolitan N.
do
do
Various
do
do
F. & A.
do
do
Various N. Y., Farmers’ L. & T.
do
do
Various
do
do
Various
do
do
Various
A. & O.
do
do
7 3-10
7
7
6
6
7
200,000
130,000
Holyoke, Mass.—City notes
City bonds, sinking fund
Various
1880 to’95
1880 to ’94
1887 to ’92
1894 to ’96-’98
1878 to ’88
1883 & ’84
1880 to ’92
1880 to’84
1880 to’86
Exch. Nat. Bk.
do
do
do
do
do
do
do
Various
A. & 0.
Various
Various
Various
7
7
7
7
200,000
1,000
1,000
Various N.Y., Amer.
do
Various
do
Various
do
Various
10
7
7
7
7
6 & 7
4 '
7
7
7
7
7
698,000
241,000
250,000
100,000
96,000
1,000
1,000
1,000
.
do
do
2,471,000
1000&C.
do
do
Water loan
Kailroad loan
100,000
254,500
736,000
90,000
66,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Water loan
,
600,000
1,000
1,000
,
Bonds to purchase blk. 321
Galveston County bonds, G. C.
1,400,000
Large.
Hall River, Mass.—City notes
City bonds
do
do
due.
payable and by
whom.
5, 6, & 7 Various
340,000
1808
1869.
1869
1869
1870
1876
1876
1877
1878
Mtansville, Indiana.—E. H. & N. RR. bonds
(Sty wharf bonds
*
JE. C. & P. RR. bonds
do
payable!
6 & 7
6 & 7
7
7
6 & 7
7
6 & 7
6 & 7
6 & 7
6
69586781175.778811187.i
.DeiroitjMich—For Water W.Co., on city’s credit
Public Building stock (City Hall) bonds
Where
|
When
“i
'XMeneland—Water works ($225,000 are 6 p. ct.). 1856 to’76
Funded debt ($100,000 are
lake View Park
Principal—When
Amount
or
par
value.
these Tables.
1879 to 1886
City Treasury.
Various
A. & O.
J. & J.
A. & 0
Oct.
Jan.
do
do
>
1,1889
1,1900
Jan.&Apr.l, 1894
do.
Jan. 1, 1889, to’90
Jan.
City Treasury.
Jan. 1, 1897
N. Y., Winslow, L. & Co.
J. & J.
July 1, 1893
do
do
J. & J.
July 1, 1894
do
do
J.
J.
do
do
July 1, 1894
J. & J.
July 1, 1895
do
do
J. & J.
Jan. 1,. 1899
do
do
J. & J.
J. & J. N. Y., Merch. Ex. N. Bank. Jan., 1879 to ’95
1899 to 1913
do
do
Various
July 1,1907
do
do
J. & J.
July 1,1913
do
do
J. & J.
May, 1891
do
do
M. & N.
1892 to 1906
do
do
Various
June 8, 1900
do
do
J. & J.
May 1,1897
do
do
M. & N.
1880-’90
do
do
Various
’84-’85-’89&1900
do
do
Various
Jan., ’98 to 1900
do
do
J. & J.
Real Estate.
Personalty.
$16,865,639
15,486,225
14,566,955
12,381,475
$6,162,225
6,113,205
5,086,315
4,926,250
Debt.
Tax.
$1,555,000
1,555,000
1,551,000
1,551,000
Fall River, Mass.—The sinking funds amounted to $281,000, Jan.1,1880.
Total debt, including water debt, $3,186,000. Population, 1875, 45,340.
Filchlmrg, Mass.—Sinking fund, $101,000. Total net debt, January,
1880, $737,283.
Population, 1875, 12,289. Valuation, tax rate per
$1,000, &c.:
Years.
Real Estate. Pers’l Prop’ty. Tax.
Debt. Sink’g Fd.,&c.
15 80 $896,395
$8,034,325 $2,633,994
$118,382
1878
7,197,125
16 20
138,441
2,373,872
900,000
6,820,575
2,208,818
17 80
895,803
158,708
16
12
11
15
00
50
40
00
-
real estate is about the cash
Texas.—The total city debt is $865,500,
—The assessed valuation of
Galveston,
value.
all of which
is
$35,000 park 8s, due 1892-1902, and
the limited debt bonds. Assessed value of real and personal property*
1878, $17,000,000. Tax rate, $1 25 on $100. (V. 25, p. 283.)
Hartford, Conn.—Total debt, April, 1880, $3,032,000; net, after
deducting resources, $2,199,768. Assessed valuation in 1878, $44,001,10 per-
cent currency, except
(V. 28, p. 599.)
Holyoke, Has#.—Bonds all coupon,
245.
.
.
but can be registered.
funds, $45,500. Total net debt, January, 1880, $952,500.
tion, 1877, $9,399,820. Population, 1875,16,260.
Sinking
Tax valua¬
Indianapolis.—The School Board is a distinct organization and levies
own tax, which is included in tax rates.
There are a few other
bonds, in all about $50,000. Valuation and tax per $1,000 have been:
Years,
Real Estate.
Personalty.
Total.
Tiix.
its
$60,456,200
$140<J
55,367,245
11*20
11,530,031
212
5,400,000
50,029,975
10*§0
In 1879 no interest or sinking fund was raised.
48,099,940
0*30
(V. 28, p. 146, 599, 624,
•U41; V. 29, p. 120, 225, 277, 357, 563; V. 30, p. 589.)
Jersey City.—One of the main causes of the temporary embarrassment
Evansville, Ind.—No floating debt. Assessed valuation (true value), of Jersey City is found in the failure to collect back assessments. Tne
Comptroller, in Jan., 1880, made the following statement in his report:
fix rate per $1,000 and debt have been:
i
....$46,981,650
43,541,600
39,156,400
38,286,235
$13,474,550
11,825,645
10,873,575
9,813,705
June, 1880.]
1869
Various.
Various.
&c
77998811
*
Funded debt
do
Water loan
bonds ($25,000
Lewiston & Auburn
Water bonds
stock...
do
improvement of streets
Re-constructing street
*...............
Public buildings and institutions
Public school and school houses.
Sewer bonds
do
Elizabeth & P. Railroad
Wharf property
Jail bordsT... T
For old liabilities
do
do
m
•
m m
•
m
• •
1852
1854
1857 to’67
1873
1866 to '67
1873
1871 to ’73
1853 to ’70
1868
1871
1868 & ’73
’54,’62,3,8
1868
1869
1870 to ’74
1871
1871
1871 to’73
....
1851 to ’63
1852 to ’75
1871 to ’76
1870
-
Louisville, New Albany & St.
L. Air Line RR.
Louisv., Cin. & Lex.
Change of gauge,
Road bed
do
do
RR
by RRs. (mostly L.& Nash.)
Lowell, Mass.—City notes
City bonds pay’ble
.'
Water notes
Water bonds
Lynn, Mass.—City
’Water
notes...'.
notes
City Hall and School House
Manchester, N. H.—City bonds
City bonds ($70,000 1884, $10,000
do
do'
Sewer bonds
do
do
($8,000 1880, ’81, ’83,
Railroad
Memphis, Tenn.—School
Post bonds
1874
1872
;
1,000
Large.
Large.
1,000
Large.
Large.
100
*&c.
100 &e.
bonds
1,000
500
500
500
1,000
;
500
1.
bonds (act March 9,
500
500
1875)
Nashville, Tenn.—Nashville & Chatt. Railroad.
Various city bonds
Newark—Bonds, city purposes (s. fund of 1859)
War bonds, floating debt, &c. (s. fund of 1864)
Public school bonds
Clinton Hill bonds, coup. & reg. (s. fd. 3 p. c.).
Corporate bonds, coup, or reg.(act Apr. 21,’76)
improvement bonds (local liens).
1875
1849
1,000
1870 to’80 100 <fcc.
.
1875
1878
1,000
1,000
1,000
1,000
1,000
1,000
m
m
Due.
Payable and by
Y., Merch. Ex. Nat.
do
do
do
do
do
July, 1
B’k.
1884 & 18891"
1881-1886
do
do
do
1905-1906
June 1.1886
June 17,1886~
Feb. 1,1909
1890 & ’97-1901'
1880 to ’97
Merch. Ex. Nat. B’k.
m
1880-’81
....
-
-
1879-1884
-
Various
Boston, Tremont Bank.
5*2
1880 to 1892
do
do
Various
6 & 7
1,1894
July
do
do
J. & J.
6
Oct. 1, ’90, to 199&
do
do
A. & O.
6
July 1,1883
J. & J. City Treasury and Boston,
6
Tune 1,1883 <fc'88t
do
J. & D.
6
ruly l,1885&19Ctts
do
J. & J.
6
July 1, ’93-1913
do
J. & J.
6
Oct.l,’97-1907-*lT
do
A. & O.
5
April, 1882
A. & O. N. Y., Mercantile N. Bank.
6
April, 1883
do
do
A. & O.
6
1887, ’89,91
N. Y., Bank of America.
Various
6
March 1,1883*
do
do
M. & 8.
7
1886,’ 96, ’97
Louisville.
Various
6
July 1, 1903
N. Y., Bank of America.
J. & J.
7
1891, ’92 & 1903*
N. Y., Bank of America.
Various
7
1883 to’89
Various New York and Louisville.
6
July, 1898
Louisville,
City
Treasurer.
&
J.
J.
6
June, 190T
N. Y., Bank of America.
J. & D.
7
1888 & 1903"
do
do
Various
7
1879 to 1898
Various Louisville and New York.
6
Oct. 1, 1898do
do
A. & O.
6
1889
do
do
J. & D.
6
1880, ’94 & 1902?*
do
do
Various
7
Sept., 1891
N. Y., Bank of America.
M. & S.
7
Feb. 1,1880
do
do
F. & A.
7
July, 1901 & 1903'
do
do
J. & J.
7
1881 to’93
Various New York and Louisville.
6
1879 to 1894.
City
Various
Treasury.
5 to 7
1886 to 1894
do
Various
6, 6*3
Nov. 1,1890M. & N. Boston, Bank Redemption.
6
1887 to 1890*
City
Treasury.
Various
6,7
1885 to 1890
do
Various
6,7
July 1, ’91-’94-*9S
Boston, Bank Republic.
J. & J.
6
1879 to 1896
5, 5*2, 6 Various Treas’y & Bost. Bk. Repub.
1882 to 1896
do
do
Various
5, 6
Jan. 1,1880-1894?
City
Treasury.
J. & J.
6
April 1,1884-*8J»
do
A. & O.
6
May 1, 1893
Suffolk Bank, Boston.
M. & N.
6
July 1,1890 &*&>
do
do
J. & J.
6
1887-’92-’97-1902t
City Treasury.
J. & J.
6
July 1,1880 to *85do
J. <fc J.
5
Aug. 1,1879 toOT
do
F. & A.
6
1873 to 1902
Memphis. '
1873 to 1900
J. & J.
6
1,311,000
56,000
193,900
600,000
650,000
180,000
79,000
425,000
1,993,000
288,000
133,000
75,000
605,000
500,000
107,000
350,000
1,508,000
481,000
500,000
1,300,000
175,000
121.500
450,000
387.500
44,200
117.500
80,000
70,000
200.000
400,000
32,000
29,500
*
$
1,300,000
300,000
900,000
m
in thesePrincipal—When
Tables.
ipai—
Whom.
F.&A. N. Y.,
7
8
10
224,000
500,000
137,000
377,000
1,000
1,000
1,000
1,000
10,000
1,000
*6*
25,000
1857
1877
1861
1871
1876
1872
1872
500 &c.
7
100,000
320,000
341,000
60,000
1,000
,
262,000
1,300,000
1,000
J. & J. N.
Various
J. & J.
Various
J. & D.
7
7
73,000
97,000
900,000
400,000
500,000
610,000
385,000
852,000
117,782
74,000
133,000
Where
Payable
7
$400,000
1870
Western division
Sewer and
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1867, ’8, ’9 500 Ac.
'do
Mobile— Funding
1,000
100 &c.
Milwaukee—Re-adjustment bonds
General city bonds
do
do
do
do
1,000
1867 to’68
Funding loan, gold
Mississippi River Railroad bonds
Endorsement Memphis & Little Rock RR
Compromise bonds, coupon
Minneapolis, Minn.—City
I
City bonds
1,000
1,000
1,000
1,000
1,000
’85)
and paving bonds
do
do
Water bonds, coupon
do
registered
1,000
1,000
1885)
($100,000 each year)
Suncook Valley
• • ••
1870-’3-’5
1.000
1871-’4-’6
1862 to ’76 500 &c.
1,000
1857 to ’67
Water bonds
Funded debt
Water bonds
1,000
Railroad
Louisville, Ay.—For Jeffersonville RR.
Subscription to stock of L. & N. RR
Water works
For
Various
500 &c.
1876
1878
1879
each year).
City bonds ($50,000 each year)
do
($110,000 due 1885, $210,000 1891)
Lewiston, Me—City
l,000&c
1859 to ’64 5000&C.
1862 to ’75 5000&C.
1874
1,000
1873-’75 500 &c.
debt
When
Rate.
1875-’76
Two-year temporary loan
T
Bond's to fimd'floatmg debt, &c., coup, or reg.
Kansas City, Mo.—Bonds
Bonds... !7
Bonds
Lawrence, Mass.—Funded
Amount
Value.
improvement bonds
do
bounty loan
Greenville street improvement bonds,
Assessment funding bonds
Revenue bonds, coupon or registered
or
par
first page of tables
Jersey City—( Continued)—
Bergen street
Size
Date of
Bonds.
DESCRIPTION.
For explanations see notes on
immediate notice of any error
discovered
INTEREST.
favor by giving
.
confer a great
Subscribers will
II
SECURITIES,.
CITY
is■
328,289
242,000
100,000
429,000
1,171,000
250,000
70,000
50,000
60,000
124.500
110,000
115,000
125,000
1,785,122
46,000
1,393,900
73,000
7
6
5
7
7
7
7
8
8
8
10
8
7
8
7
6
6
6
6 & 7
1,840,000
6<fc7
2,500,000
5 &6
7
500,000
400,000
1,25a, 000
7
7
M. & N.
Charleston, 8. C.
& J.
J. N. Y., H. Talmadge & Co.
D. Milw. and N. Y., A. Goettel.
do
do
J.
do
do
D.
do *
do
J.
do
do
J.
D. New York, Park Nat. Bank.
do
do
A.
do
do
N.
do
do
Various
do
do
J. & J.
do
do
J. & J.
do
do
F. & A.
do
do
M. & N.
M. & N. Mobile, Mob. Savings Bank
New York.
Various
Various New York and Nashville.
Newark, City Treasury.
Various
do
do
Various
do
do
A. & O.
J. & J. Newark, Mech. Nat. Bank.
Various
M. & 8. Newark, Mech. Nat. Bank.
J.
J. &
J. &
J. &
J. &
J. &
J. &
J. &
F. &
M. &
Nov., 1900
July, 18721907
June 1,1891?
Jan. 1,1901
June 1,1896Jan. 1,1902
Jan. 1,1902
Dec. 2, 1892'
Feb. 2, 1894
190&
May 1,
1881 to 1885
1886 to 1900
1901
1905
Nov. 1,
N©v.,
1875-77-79
1879 to *99
1879 to’93
1879 to
pril, 1888, to’9:
July 1, 1895
Aug. 1, 1906
1879 to’93
assets, $83,367. Assesredr
value), tax rate per $1,000,
have been:
*
,' .
Years. Real Estate. Personal Prop. Tax Rate. Total Debt. Smk.Fds,Ae^
1878
funds, $1,069,565; taxes due and
$9,657,690
$6,254,544
$17 40
$984,729 $26,692:
State census in 1875 was 116,883, against 85,000 by United States cen¬ 1879..
9,777,744
7,705,706
973,007
15 00
37,34T
sus of 1870.
Assessed valuations and tax rate per $1,000 have been:
Memphis. Term.—The city has been in default for interest since Jan.
Years.
Real Estate.
Personal Prop. Tax Rate. 1,1873. The Legislature passed a bill, January, 1879, repealing the;
$6,315,155
$53,724,792
$25 80 city’s charter, to enable it to avoid its debts. A receiver for the city was
54,601,206
5,940,296
25 40 appointed by the United States courts. The compromise bonds were
5,790,119
54,505,470
23 60 issued at 50 cents on the dollar. Assessed valuation of real estate, 1875*,
54,993,918
5,340,860
28 00 $19,329,600; personal, about $6,500,000. Tax rate, $2 per $100L
—(Y. 28, p. 173, 199, 352, 454; Y. 29, p. 120, 357.)
Population in 1870, 40,230. (V. 28, p. 121,146, 224, 579, 657.)
Lawrence, Mass.—Total debt, $1,790,700, of which $20,000 are 7 per
Milwaukee.—The city cannot issue debt beyond 5 per cent of its aver¬
cents. Sinking fund, $40,000. Tax valuation, 1879, $23,088,897; tax age assessed value for five years. In 1878 valuation was $55,255,711.
rate, $16 40. Population, 1875, 34,916.
Sinking funds are provided for all the bonds. There is also about
Lewiston, Me.—Total debt, $1,096,100; sinking fund, $90,410. The $47,000 scrip issued to settle old railroad bonds. Population by Staterailroad bonds were issued to build the Lewiston & Auburn Railroad, census, 1875,101,000. (V. 23, p. 622.)
which is owned by the cities of those names. Assessed valuation, 1877,
Minneapolis, Minn.—Total debt, $1,101,000; tax valuation, 1879*,
about $24,000,000; tax rate, 14*85 mills; bonds all coupon.
$11,740,602; tax rate, 20 mills on the $1.
Louisville.—The funded debt, Jan. 1,1880, exclusive of loans payable
Mobile.—The valuation of property in 1877 was $11,022,049 real
by railroads, was $8,072,000, against $8,079,000 Jan. 1,1879. The sink¬ estate and $6,118,462 personal property; tax rate, l6io per cent. Inter¬
ing funds on Jan, 1,1880, amounted to $4,619,980. Population by cen¬ est was in default from July, 1873. A settlement with bondholders was
sus of 1870 was 100,750, against .68,033 in 1860.
Rate of taxation offered by act of March 9,1875, viz.: $510 in 6 per cent bond for $1,009
for all city purposes in 1878 was $2 17 on $100 in each district. The of the old 8 per cent. The 5 per cent bonds have a lien on city revenue*
following figures give the assessed property valuation: 1874, $78,295,- and exchange for these was offered at 75 per cent of their face. In*
114; 1875, $75,536,812; 1876, $71,849,772; 1877, $68,522,947; 1878, Feb., 1879, the Legislature repealed the charter of the city, and in Oct*.
$63,194,487; 1879, $64,018,242.
1879, bondholders were asked to scale interest to 3 per cent, but declined^
Lowell, Mass.—All the notes held by savings banks. Water loan sink" Population about 38,000. (V. 28, p. 224, 327; V. 29, p. 278, 374.)
Nashville, Tenn.—At the close of the fiscal year, September 30,1879*,
ing fund, $215,000; other sinking funds, $226,725. Population, 1879>
50,600. Assessed valuations (about 80 per cent of true value), tax there were $301,185 of past-due coupons, judgments, overdrafts, Acrate per $1,000, &c., have been:
Assessed valuation of all property in 1879 was $9,137,990 real properly
Years.
Real estate.
P’sonal Prop. Tax Rate.
Debt. S. fund, &c. and $1,858,584 personal; tax rate, $20 per $1,000.
$27,072,779 $12,334,953 $14 30 $2,331,000 $147,951
bonds in the first line in the table are payable out of ftft
12,951,379
13 70
27,112,747
2,311,000 184,296 Newark.—The
fund of 1859, which amounts to $114,900; those in second bom
27,440,570
12,164,430
13 40
2,281,500 240,000 sinking
out of sinking fund of 1864, $1,017,000; public school bonds out «►.
Lynn, Mass.—Total debt, January 1,1880, $2,147,487. Assets, $455,- public school fund, $179,000; Clinton Hill bonds by sinking fund*
$2,268,145
3,044,132
1880,
$16,808,000; sinking
unpaid, $2,268,145. Population by
Total taxes overdue Dec. 1, 1879, less deductions
Total assessments due and unpaid
The total debt of the city January,
was
4133.
Population, 1875, 32,600.
Manchester, IV. H.—Total debt, $929,000;
valuations (about 70 per cent of true
..
12
CITY
Subscribers will confer
a
SECURITIES.
[Vol. xxx.
great favor by giving Immediate notice of any
DESCRIPTION.
'
Date of
Bonds.
For explanations see notes on first page of tables.
error
-
discovered in these Tables,
INTEREST.
Size or
par
Value.
outstanding.
$1,000
$3,030,000
1,000
450,000
888,000
,55,000
223,000
308,000
7
6
7
6
6
5
Various Newark, Meek. Nat. Bank.
do
do
F. A A.
do
do
A. A O.
City Treasury.
A. A 0.
do
100,000
5
400,000
200,000
499,000
60,000
160,000
150,000
4,304,250
6
7
A.
A.
A.
A.
J.
A.
Amount
Rato.
When
Where payable and
whom.
payable
Principal—When
by
due.
Newark—(Continued)—
Aqueduct Board bonds
Bonds
Tax arrearage bonds
New Bedford, Mass.—City bonds
3.879
1876-’77
1861-’74
1875
City improvement
War loan
..
Water bonds
do
do
New Haven, Conn—Sewerage
•
City Hall
For Derby Railroad ($20,000 payable
City bonds (10-20 bonds)
....
10,000
1,000
....
1876
1867 to ’76
1872-’74
1871
1861
1867
yearly)
1877
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
139879.781
New Orleans— Consolidated debt
1852
Railroad debt
1854-55
Waterworks loan of 18(39
1869
Seven per cent funding loan of 1869
1869
Seven per cent funding loan of 1870
1870
Jefferson City (debt assumed)
'57, ’67,’70
Wharf impr. bonds (assumed by lessee*)
1870
Street improvement bonds
1871
Consol, gold bonds (gen’l and drainage series)
1872
Ten per cent bonds, deficit and old claim
1871
New premium bonds (in exchange)
N. O. Waterw’ks Co. new bds.(for $2,000,000)
Newton, Mass— City bonds and notes
1864 to ’75
Water loan ($600,000 6s, balance 5s)
1875
Neio York—Water stock
1841 to’63
Water stock
1872
Croton water stock
1846 to ’69
New Croton Aqueduct stock
1865-6
Additional new Croton Aqueduct
1870 to ’79
Croton water main stock
1871 to ’79
Croton Reservoir bonds
1865 to ’74
Croton Aqueduct bonds
1866 to ’70
Croton water pipe bonds
1869
Cent. Park fund stock ($275,000 only due '98) 1857 to ’59
Improvement bonds
1879
Third Avenue improvement bonds (23d ward)
1877
Central Park fund stock
1856
Central Park improvement fund stock
1858 to ’71
Dock bonds
1870-’7u
Market stock
1865 & ’68
City Cemetery stock
1869
City improvem’t st’k (part red’mable after ’96)
1876
do
do
1870-’73
Lunatic Asylum stock
18 69-’70
Fire Department stock
1869 ’70
Fire telegraph bonds
1870-’73
....
.
Tax relief
bonds, coupon
N.Y.Bridge bde ($2,350,000 red.after July,'’90)
Accumulated debt bonds
Street improvement bonds
Street opening and improvement bonds
Ninth District Court-house bonds
Department of Parks improvement bonds....
1870
1869-’79
1869-’70
1874-’77
1871
1871
1874-’79
City parks improvement fund stock.
1874-’78
1871-’78
Assessment bonds
Normal school fund stock
1871
Public school building fund stock
1871
Additional Croton water stock
1871-’79
Sewer repair stock
1872
Consolidated stock
’
1874
do
20-50 (redeemable July ’96;
1876
Museum of Art and Natural History stock....
1873-’79
Third District Court-house bonds
1874
Armories and drill-rooms
1877
Central Park commission improvement bonds 1878 A ’79
1862 to ’68
County Court-house stock
do
do
,
do
do
No. 3
No. 4 & 5
Soldiers’ bounty fund bonds
Soldiers’ subs, and relief red. bonds
Soldiers’ bounty fund bonds, No. 3
Soldiers’ bountv fund red. bonds. No. 2
Riot damaees indemnity bonds
Assessment fund stock
do
do
do
do
Repairs to buildings stock
Consolidated stock, gold, coupon
Accumulated debt bonds
1,000
.
-i
1,000
1,000
Various.
1,000Ac
1,000
500 Ac.
500
500 Ac
500 Ac.
100 Ac.
1871
100 Ac.
1872 9
500 Ac.
1864
100 Ac.
1864
100 Ac.
1865
100 Ac.
1865
100 Ac.
1864 to ’72 100 Ac.
1868 to’72 100 Ac.
1873
100 Ac.
1875
100 Ac.
1870
100 Ac.
1871 to’72 500 Ac.
1869 to ’70 100 Ac.
591,500
A
A
A
A
A
A
A
A
J.
J.
0.
O.
0.
O.
J.
City Treasuiy.
do
0.
J.
J.
7-3
7 S-
J. A J.
M. A S.
J. A D.
Various
J. A D.
F. A A.
Oct. 1, ’79 to ’86
July 2,1887-97
July
1874-5
*
do
do
June
do
Dec., 18801
Aug. 1, 1911
July 1, 1922
April 1, 1881
1, 1895
1887 to 1897
....
357.000 5, 6A O1^ Various
City Treasury.
5 A 6
J. A J. Boston, Comm’nwealth Bk.
835,000
2,147,000
5 A 6
6 A 7
5 A 6
6
500,000
2,900,000
250,000
3,618,600
5,116,000
970,637
6
6
7
6
5
450,000
3,341,071
500,000
24,000
0
be
Q.-F.
Q.—F.
P
w
2,438,139
750,000
300,000
2,168.000
8,329,900
5,661,000
200,000
636,000
1,304,000
265,000
8,779.700
2,058.350
956,000
398.000
142,396
733,000
1,620,000
600,000
609,100
4,000,000
946,700
745,800
376,600
855,204
.
1,719,400
493,200
900,450
100,000
14,702,000
6,000,000
7
-
1907 to 1917
1907 to 1911
1880
1887 & 1898
1884
1880
GDfrt
£ g
,
fa
•2
M. A N..
M. A N.
6
7
7
6
6
6 A 7
6
6
6 g-
.
P
.
q.-f:
5 A 6
6
Aug. 1, 1884
Aug. 1,1900
Nov. 1,1900-1906
O
a
'o ®
Q.-F.
Q.-F.
£
^
•
July 1, 1898
e-
co —
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
7
M. A N.
5 A 6
M. A N.
7
M. A N.
7
5 A 6
M. & N.
5, 6 A 7 M. A N.
5,6,7A6g M. & N.
6
M. A N.
M. A N.
6
5, 6 A 7 M. A N.
M. A N.
6
6 A 7
Various
M. A Nn
5 A 6
M. A N.
5 A 6
5 A 6
M. A N.
5
M. A N.
M. A N
6
6
M. A N.
7
M. A N.
6,500,000
1880
Nov. 1,1902
1883 & 1890
2
M. A *T.
6
3,849,800
7,090,000 6g., 5,6,7
6 A 7
296,000
7
75,000
2,215,900 5A6g.
7
7,269,400
6 A 7
700,000
6
521,953
6
597,586
7
3,000,000
5 A 6
4,021,900
•
Q.—F.
M. A N.
Q.-F.
Q.-F.
5
5
399,300
-
1879 to 1895
July 1, 1905-’06
-*
5, 6 A 7 Q.-F.
5, 6 A 7 M. A N.
490,000
& 1894
1, 1899
March 1, 1894
do
New York or London.
New Orleans.
Q.-J.
1. 1892
Jan.
'
A. A 0.
10
5
July 1, 1881
do
do
New Orleans.
do
do
do
Various
73
9,261,320
....
100 &c.
100 Ac.
100 Ac.
100 Ac.
500 Ac.
500 Ac.
100 Ac.
100 Ac.
100 Ac.
100 Ac.
500
500
100 Ac.
100 Ac.
500 Ac
100 Ac
100 Ac.
500 Ac.
500 Ac.
100 Ac.
100 Ac
100 Ac
500 Ac.
500 Ac.
100 Ac.
100 Ac
100 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac
500 Ac
500 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac.
6
6
5
6
6
5
7
7
8
430,900
98,000
150,000
30,000
189,000
298,900
....
A. A O.
7
169.000
164.200
1879 & 1892
1909
1886-’87
1880 to 1889
1891 to 1910
1879 to 1884
1900 to 1904
1885 to 1909
1883 to 1909
Oct. 1, ’91&1901
....
1887 A 1895
Nov.1,1901 to ’10
O tx
ZJ .-3
1894 & 1897
1888
’89,’92,’96& 1926
0
®
p
1889 & 1892
1889
1899
1884
1890
1905 & 1926
1884 to ’88 (
.
GO
£
0 ®
K
<e
f-1
^
0 53
O
1880, ’82, & ’88
"
1880 to’82
1890
Nov.1,1880 to’84
0 &
Nov. 1,1880 to’84
1901-1904
Nov. 1, 1891
Nov. 1, 1891
.
03
Noy. 1, 1891
Nov.l, 1882 & ’85
«3
■e’S
S3
p
1894 to ’96
May,’97,1916-’26
1903
d O
O
Nov. 1,1890
1880 A 1881
Nov.l. 1880 A/84
1880 to’92
1884 to’88
1894 to ’98
1883 to ’90
1880 to’81
1895 to ’97
1891
1882
S
O eg
M.AN,
■g «
M. A N.
M. A N.
M. A N.
M. A N.
M. A N
M. A N.
M. A N.
M. A N.
M. A N
Various
M. A N
rX C3
-
.O
CSrrt
03
5:
P-;a
1887
CO
1903
00
d
w
1910
1884 to ’88
1896 to 1901
1884 to ’88
$53,200; tax arrearage, $275,000; against local improvement bonds of April and the 1st of October.
Population in 1870, 191,418 ; in 1860.
the city holds $2,039,724 of assessments unpaid and a lien on the
prop- 138,670.
(V. 27, p. 148, 228, 629; Y. 28, p. 18, 352 ; Y. 30. p. 466,494,
city. Real and personal property have been assessed at near the true 651.)
value as follows: 1876, $97,116,004; tax rate, $19
per 1,000; 1878,
Ncu'ton, Mass—Total debt, January 1,1880, $1,282,778; sinking fund,
$86,257,175; tax, $19 80; 1879, $78,658,918; tax, $20 60. Population
$70,408. Tax valuation, 1879, $23,787,352; rate, $13 40 per $1,000.
in 1870, 105,059. (V. 28, p. 253.)
Population, 1875, 16,105.
New Bedford, Mass— Population, 1879, 27,000. Assessed
valuations
New York City.—The total debt of New York,
(true value), rate of tax, Ac., have been:
January 1, 1880, was
$142,447,400; the amount of sinking funds, $33,021,985. The follow¬
Personal
Rate of Tax Total Debt, - Trust
ing statement shows the details of funded debt and the amount in the
Years.
Real Estate.
Property, per $1,000.
Bonds.
Funds.
city sinking fund at the dates named :
$12,609,200 $13,524,097
$18 60
$1,178,000 $102,600
Description.
>
Jan. 1, ’78.
Jan. 1, ’79.
Jan. 1, 1880.
12,808,700
13,137,011
16 00
1,148,000
103,100 Funded debt
$121,440,133
$126,128,815
$123,145,333
12,898,300
16 40
12,874,418
1,123,000
104,100 Sinking fund.....
31,080,007
32,143,787
33,021,985
New Haven, Conn— Sinking fund on
City Hall loan, $57,740; lnunici-
fund,& Derby
$18,277.Railroad,
made
a special $225,000
loan of $75,000
Sal bond
The city
to the
Haven
and
guaranteed
of its second
ew
mortgage bonds.
80 per
Population, 1870, 50,840. Assessed valuations (about
cent of true value), tax rate, &e., have been
Personal
Rate of Tax
Total
Sinking
Years. Real Estate.
Property.
Debt.
per $1,000.
Funds, Ac.
1876.. $35,178,404
10 mills.
$13,041,104
$965,513
$57,904
1877..
35,509,639
934
“
12,678,617
3 47,418
950,137
1878..
33,426,943
9
“
11,606,420
142,196
894,000
1879..
Not yet ascertained.
9
874,000
156,450
New Orleans—A decision of Louisiana
Supreme Court, Dec., 1878, held
invalid the special tax provisions for consolidated bonds. The assessed
valuation of property for 1878 was $111,123,695, real and
personal. State
tax, 14*2 mills; city tax, 15 mills; total tax, 29A scheme for settling
the debt by a bond premium drawing
plan is in practice, and dra wings
take place January 31, April 15, July 31, anu October 15. An act
before the Legislature April, 1880, provided that the entire
adjust¬
ment of the city debt should be committed to a board of
liquidation, to
which shall at once be transferred all the assets of the
city not used for
purposes of government, and these assets are to be used first for the
payment of interest, and, should any excess remain, for the extinguish¬
ment of the bonded debt. The act further
provides that bondholders
who choose can fund their bonds in new bonds at
fifty cents on the dol¬
lar, and 4 per cent interest per annum, payable semi-annually on the 1st
Net debt
$90,360,126
$93,985,028
$90,123,348
21,329,500
6,051,424
13,481,500
5,952,075
13,262,100
6,039,966
$117,741,050
$113,418,603
$109,425,414
Temporary debt
Revenue bonds
Total
The
population of New York by the United States census in 1870 was
922,531, against 805,658 in 1860. Since Jan. 1,1861, the valuation, rato
of taxation, and net funded debt at end of year, have been as follows:
Years.
1861
1865
Real
Estate.
$406,955,665
427,360,884
742,103,075
769,302,250
797,148,665
836,693,380
1874t
881,547,995
883,643,545
892,428,165
1877...... 895,963,933
900,855,700
918,134,380
*
Less
sinking funds.
Rate Tax p.
Personal
Estate.
$174,624,306
$l,000-v
State.
City.
$3 62 $16 36
96
181,423,471
305,285,374
306,947,233
306,949,422
292,597,643
272,481,181
217,300,154
218,626,178
,24 94
70, 19 80
43 17 27
20 23 81
41 19 59
6 95 21 05
29 40—'
28 00
26 50
206,028,160
25 50
197,532,075
25 80
175,934,955
t Annexed towns included.
.
Net Debt.*
$20,087,301
35,973,597
73,373,552
88,369,386
95,582,153
106,363,471
114,979,970
116,773,721
119,811,310
117,741,050
113,418,603
109,425,414
CITY
June, 1880. J
Date of
Bonds.
DESCRIPTION.
Norfolk, Fa.—Registered stock
Coupon bonds ($20,000 6s are J. & J.)
Trust & paving, coup, (pav’g, $189,300, J.&J.)
on water
works.).
Size or
Amount
par
outstanding.
Value.
of tables.
New York— (Continued)—
N.Y. and Westchester Co. improvement bonds
Consolidated stock
For State sinking fund deficiency
Debt of Westchester towns annexed
Consolidated stock, gold
Coupon bds, water (a mort.
1870
1874
1874
$100<fcc.
....
...
1878
•
•
•
500 &o.
Rate.
100
1,000
1,000
1,000
1,000
1,000
336,700
415,800
500,000
125,000
160,000
300,000
164,000
50,000
125,000
135,000
33,000
369,000
417,000
100,000
90,000
5,753,391
1,725,000
6,500,000
4,853,500
7
7
Funded debt bonds
Improvement bonds
Sewer bonds ($125,000 are M. &S.)...
War bounty bonds
Funding bonds, “A”
Renewal bonds, “B”
Philadelphia^- Bonds prior to consolidation
Bonds for railroad stock subsidy subscript’ns
for water works
for bridges
and
bounty purposes
municipal, school, sewer, &c
Guaranteed debt, gas loans
Four per cent loan (“A” to “ Y”)
Peoria, Ills.—School loan
Water loan ($50,000 each year)
war
Water loan
•
500
100 &c
500
50 &c.
50 <fec.
50 &c.
50 &c.
50 &c.
50 &c.
50 &c.
50 &c.
25 &c.
•
1855
to’71
1855
1859
1868
1862
....
1879
•
r
do
.
500
500
to’70
to ’70
to 65
1860 to ’70
for park and Centennial
for
.
500
500
.
Bounty loan ($21,000 payable each year)
Peoria & Rock Islaud Railroad
-
-
•
•
....
•
-
•
•
....
....
•
•
•
•
.
•
•
•
•
•
•
•
•
•
c
8,701,600
11,650,000
15,709,750
5,999,400
9,199,760
74,500
•
Pittsburgh—Water exten. loan (coup, or reg.)... 1868 to ’74
Funded debt and other municipal bonds
1845 to ’72
1863
Compromise railroad bonds (coup, and reg.)..
....
Bonds impr. Penn, ay., &c. (local assessment). 1871 to ’73
Bonds for overdue interest (temporary loan).
1879
Portland, Me.—Loan to Atl. & St. Lawieuce RR. ’68,’69,’70
1,000
Loan to Portland & Rochester Railroad
1867 to ’69 500 &c.
do
1872
do
do
Portland & Ogdensburg
do
1872
1859-79
500 &c.
Municipal—proper, ($63,000 are.5s due ’83).
1867
1,000
‘
Building loan bonds.
....
....
1855
1863
1872
1874
1876
1875
1879
1879
Providence, 11.1.—Bonds for public improvem’ts
Recruiting and bounty bonds
Water loan bonds, gold, coupon
do
do
registered
,
do
City Hall &
do
do
do
sewer loan b’ds, sterling, cp. or reg
loan of 1879
«•
lOOO&c.
1000&C.
lOOO&c.
1000&C.
1000&C.
£100
lOOOifec.
Public improvement loan, registered
Prov. & Springfield RR. bonds, guaranteed...
1872
Brook Street District certificates.
1877
do
do
do
1879
coupon
New High School Building certificates
1877 & ’79
Richmond, Va.—Bonds, reg.,($118,000 are coup.)
Bonds, reg. and coup. ($216,000 are coup.)...
•
..
To Roeh. & State L. and R. N. & P. Railroads.
For various city improvements
Water works loan, coupon and registered
Funding loan
Rockland, Me.—City bonds
Railroad loan ($20,000 payable yearly)
•
•
1,000
1,000
700,000
280,000
135,000
3,263,545
1,214,700
1,000
;
600,000
450,000
500,000
1,000
•
'
1,997,250
Large.
....
Rochester, N. Y.—To Genesee Valley Railroad
‘
lOOO&c,
Various
lOOO&c.
1875
100 &c.
100 &c.
1869
do
100 &c.
1871
do
100 &c.
1872
81. Joseph, Mo.—Bonds to St. Jo. &Den City RR. 1860 to’69
500
Bonds to Missouri Valley Railroad
500
1869
Bonds for various purposes
1858 to ’69 100 &c.
500
1871
Bridge bonds
New compromise bonds (60 per cent)
5 &c.
1879
8t. Louis—Renewal and floating debt bonds
1846 to ’71 Various
Real estate, buildings and general purposes.. 1840 to ’68 Various
Street improvement bonds
1855 to ’57 Various
Water work bonds (old)
1856 to ’58 Various
Tower Grove Park bonds (gold)
1868
1,000
Sewer bonds
1855 to ’69
1,000
Harbor and wharf bonds
1852 to ’68 Various
New water work bonds (gold)
1867 to ’70
1,000
do
do
do
1872
1,000
Renewal and sewer bonds (gold)
1871 to ’73
1,000
f
160,000
750,000
938,686
3,182,000
410,000
192,650
400,000
150,000
205,000
431,500
150,000
299,400
500,000
(?)
1,922,000
1,148,000
70,000
336,000
346,000
885,000
806,000
3,950,000
1,250,000
681,000
Personal taxes uncollected Dec. 22,1879, amounted to
$11,475,380
Uncollected taxes on real estate, Nov. 30,1879, amounted to 13,744,883
Uncollected assessments Nov. 1 1879, staiounted to
9,437,891
Total..
:
$34,658,155
The reduction between the amount of taxation of the years 1874 and
1879 is about $4,000,000.
There was, however, no substantial reduc¬
tion in the expense of administering the City Government, as the reduc¬
tion in the State taxes is about equal to the reduction in the tax levy.
Norfolk, Fa.—The assessed valuations and tax rate per $1,000 have been:
Years.
Real Estate.
Personalty.
Tax Rate.
$8,487,207
$1,685,419
$19
8,576,130
1,639,866
19
1877
8,703,895
1,480.763
19
8,775,416
1,497,130
19
Norwich, Conn.—The assessed valuations, tax rate, &c., have been :
Real
Personal Rate of Tax Total
Sinking
Years.
Estate.
Property, per $1,000. Debt. Funds, &c.
$7,735,158
$
$3,725,846
$11
$765,664
8,184,815
3,273,074
763,277
8
7,794,678
3,039,564
771,863
3,535
7
7,435,418
3,057,099
9
777,312
9,191
Paterson. N. J.—Finances are apparently in a sound condition. Back
taxes due (including 1878) were $667,786 January 1,1879. The assessed
valuations, tax rate per $1,000, &c., have been:
Real Estate.
Years.
- Personalty.
Tax Rate.
Debt.
$17,835,114
$3,629,492
$1,199,000
2i5
-
15,850,857
15,923,108
f
3,255,659
2^
1,286,500
3,246,501
2^4
1,275,000
1,259,500
Philadelphia.—The total funded debt, January 1,1880,
was
$70,979,-
004; floating debt, $1,294,554. On January 1, 1879, funded debt was
$61,092,641, and floating debt, $10,742,458. Total assets, including
sinking fund, railroad stocks held, and $3,532,264 of taxes “ due and
oollectible,” and $1,853,456 cash, were $25,718,373, leaving balanoe of
liabilities, $46,546,222. The following table exhibits the assessed
valuation and tax rate per $1,000 in the city sinoe 1871, the assessed
value of real estate being near its oash value:
Whom.
5 g-
M. & N.
6
J.
M.
A.
M.
A.
A.
6 & 8
8
8
7
5
&
&
&
&
&
&
Due.
,
>
See
preceding
page,
1891
1896
1880 to’86
j
7
5
J.
7
J.
7
7
7
7
6
6
5 & 6
6
6
6
6
6
0
6
4
7
10
7
J.
J.
S.
0.
N.
0.
O.
& J.
A. & O.
& D.
& D.
5
do
do
do
do
New York, Park N. Bank
Apl., ’92; July,’93
May, 1901
Oct. 1, 1893
ThamesN.Bk; Bost.,Bk.Rep
Norwich.
April 1, 1907
do
1898,1908 & 1910
do
Jan. 1, 1905
do
April 1. 1908
Dec., 1879-1904
City Hall, by Treasurer.
do
do
Dec., 1879-1900
do
do
Dec., 1879-1886
& D.
& D.
do
do
1882-1902
J. & D.
do
do
Dec., 1879-1900
,T. & D.
do
do
June, 1887
Various
do d©
1901-1904
J. & J. Phila., Far. & Mech. N. B’k
1879 to ’85
J. & J.
do
do
>
J. & J.
do
do
1879 to 1903
J. & J.
do
do
)
J. & J.
do
do
>
do
do
J. & J.
J
V 1879 to 1905
J. & J.
do
do
J. & J.
do
do
1883 to 1905
do
do
1880 to 1904
Various N. Y„ Amer. Exch.Nat.Bk.
1879 to 1890
M. & N.
do
do
May 15,1881
J. & D.
do
do
June 1,1888
Various
do
do
1889-1891
M. & S.
Mch 1,1882 & ’83
City Treasury.
J. & J.
New York.
July 1, 1888
A. & O.
1893 to ’98
Philadelphia.
Various Pittsburg, Phila. & N. Y.
1879 to 1912
1913
J. & J. New York, B’k of America.
Various
1883 to ’85
Philadelphia.
•
J.
[
S
....
M.
J.
J.
M.
6
6
6
6
1908-1928
1880 to’85
1890-’94 -’99
J. Norfolk, Treasurer’s Office.
5, 6 & 7 Various
787^000
700,000
450,000
1,350.000
1,614,600
325,000
600,000
300,000
2,347,000
1,653,000
1,500,000
Pay’ble
Principal—When
....
50,000
195,000
205,000 7,6g.&7g
10
42,000
7
100,000
7
4,482,425
6 & 7
1,641,000
4 & 5
2,179,469
7
5,127,700
1,405,000
....
Where Payable and by
....
77780.96 18. 81118877695-.9.0
1875
1878
1858-’73
1862-’71
1869-’79
1869-’79
1863-’65
1877
1877-’78
Court House
Sinning fund bonds.
Paterson, N. ,7.—School bonds
When
M. & N.
J. & D.
M. & N.
6
$30,000
1,680,200
2,729,646
1,000,000
915,671
100
1871
INTEREST.
6,900,000
100
100
•
1870-’74
1872-’73
■
.
100 &c.
100 &o.
1868
Norwich, Conn—City bonds
1877
City bonds
Water loan ($50,000 1890, $250,000,1898)... *68,’78,’80
do
do
do
Bonds
do
13
favor by giving Immediate notice of any error discovered in these Tables,
Subscribers will confer a great
For explanations see notes on first page
SECURITIES
& N. Boston, Blackstone N. B’k.
& J.
do
do
do
& J.
do
& S.
do
do
Nov., 1886,’87/88
July, 1887
July 1, 1897
Sept. 1,1907
1879 to ’95
Boston and Portland.
do
June 1,1887
& D.
& 8
Providence.
Sept., 1885
& J.
do
Jan., 1893
& J. Boston, Prov. and London.
Jan., 1900
& J. N. Y., N. City Bank, & Prov.
Jan., 1900
& J.
do
do
July 1,1906
J. & J. London, Morton, Rose & Co
July 1,1895
June 1,1899
J. & D.
Providence.
do
July 1, 1899
J. & J.
do
1892
M. & S.
Sept. 1,1880-’84
Treasury.
M. & N.
Boston and Providence.
May 1, 1885-’86
Various
do
do
1880-’89
J. & J.
j: & J., 1880-1912
J. & J.
1886 & 1904-1909
1881 to 1903
J. & J. N. Y., Metropolitan N. Bk.
F. & A. New York and Rochester.
1893
Various
do
do
1880 to 1902
N. Y., Union Trust Co.
J. & J.
Jan. 1,1903
1905
do
do
1880 to 1897
Semi-an
City Treasury.
1880 to 1899
J. & J. Boston, First National Bk.
F & A.
do
1891
do
M. & 8.
do
do
1892
1880 to ’89
Various N. Y., Nat. B’k Commerce.
M. & N.
do
do
Nov., 1889
Various St. Joseph and New York.
1878 to ’89
1891
J. & J. N. Y., Nat. B’k Commerce.
1899
St. Joseph, City Treasury.
April.
1880 to ’91
Various N. Y., Nat. Bank Republic
do
1880 to 1906
Various
do
do
“
do
1882 & ’87
Various
1880 to ’83
do
do
Various
F. & A.
do
do
Aug., 1898
Various
do
do
1880 to ’89
1880 to’88
Various
do
do
J. & D. New York and St. Louis. June, 1887, to ’90
A. & O. N. Y„ Nat. B’k Commerce.
April 1,1892
Various
do
do
1891 to’94
m’nthly
6
6
5
5 & 6
5 & 6
5
5
g.
g.
gg.
4*2
5
7
5
4*2
4*2
6
8
7
7
6 & 7
7
J.
M.
J.
J.
J.
J.
^
....
4, 5 &6
6
6
6
6 & 7
7
10 & 6
10
4 & 5
6
6
6
6
6
6
6
6
6
6
g.
g.
g.
g.
Tax Rate.
$22 00
565,849,095
‘9,434,873
21 50
585,408,705
10,004,673
21 50
9,755,000
22 50
593,313,532
v 577,548,328
9,439,769
21 50
526,539,972
8,069,892
20 50
1880
529,169,382
7,498,452
20 00
Assessed valuations of real estate for 1880 are: Full city property,
$474,504,118; suburban property, $35,762,264; farm property, $18,903,000. Population, 1870, 674,022, against 565,529 in 1860. (V. 27,
Years.
1874
°
Real Estate.
Personalty.
$539,003,602
$9,239,933
629; V. 29, p. 435.)
Peoria, III.—Total debt, $686,500; tax valuation, 1876, $14,574,105.
Pittsburg.—Assessed valuation in 1879: Real property, $92,954,390;
personal, only $2,612,268. Sinking funds, $473,277. Tax rate, 1879,
17*6 mills per $1. Population about 140,000. Interest defaulted April,
1877. (V. 27, p. 68, 643; V. 28, p. 43, 302; V. 29, p. 383.)
p.
Portland, Me.—The sinking fund
and available assets March 31,1880,
The city is protected by mortgages on Atlantic & St.
Lawrence, Portland & Rochester, and Portland & Ogdensburg railroads.
Population in 1879, 35,010, against 31,413 in 1870, and 26,341 in 1860.
The assessed valuations, tax rate, &c., have been:
were
$335,594.
Rate of Tax
per $1,000.
Total
Sinking
Funds, &c.*
$18,708,500 $11,951,855 $25 00 $6,050,200 $664,999
19,067,200
5,507,900
11,825,645
25 00
377,061
19,212,800
11,458,354
25 50
5,316,600
360,815
19,825,800
25 00
5,235,600
225,710
10,359,128
These do not include the sinking funds for railroad loans.
Providence, R. /.—The principal debt of Providence has been created
since 1872 for water works, sewerage, new City Hall and Brook Street
Improvement. The sinking fund for bonds clue in 1885, $553,171;
sinking funds of 1893, $206,070; 1895, $181,021; 1900-6, $108,458.
Population, 1870, 68,901; by State census, 1875,100,800. The laws of
Rhode. Island now limit the debts of towns to 3 per cent of their assessed
Assessed valuations (true value), tax rate, Sec., have
valuation.
Years.
*
been:
Real
Estate.
Personal
Property,
Debt.
SECURITIES.
CITY
14
by giving Immediate notice
Subscribers will confer a great favor
[Vol. XXX.
of any, error discovered In these Tables.
INTEREST.
Size
Date of
Bonds.
DESCRIPTION.
Rate.
Value.
Jfor explanations see notes on first page of tables.
SL Louis—(Continued.)—
Renewal purposes, gold or
$1,000
1873
1875
1874-’79
1880
1872
sterling
.Renewal, &c., bonds, gold, $ and £
Renewal, &c., bonds, gold, $ and £, coupon...
Renewal bonds, gold, $ and £
Bridge approach bonds (gold)
8t. Louis County bonds assumed—
Bonds to railroads, coupon
outstanding.
par
1,000
1,000
1,000
500
6 g.
6 g.
6 g.
5 g.
$1,074,000
707,000
2,747,000
565,000
461,000
1791188877696...781187569.
Insane
1853 to '55
Asylum
County Jail
General purposes, gold
Renewal
Park bonds, coupon, gold
County bonds
bonds
SL Paul, Minn .—Revenue
Preferred bonds
8 per cent bonds
Lake Superior & Mississippi
St. Paul & Chicago Railroad.
Public Park (Como.)
Local improvement
Bonds
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1867
1868
...
Railroad
1872
1873 to '76
1875
1875
Various. .Various
Various. Various
Various
1868
500 &c.
1870
1,000
.
1,000
1,000
1,000
1873
1873
1879
100 &c.
100 &c.
Salem, Mass.—City debt
Citydebt
1,000
Water loan
do
San Francisco—
Bonds of 1858, coupon (gold)..
Judgment bonds, coupon (gold)
Central Pacific Railroad, coupon (gold)
Western Pacific Railroad,
do
do
School bonds,
do
do
Judgment bonds,
do
do
School bonds
School bonds
Park improvement
bonds
Hospital bonds
House of Correction bonds
City Hall construction
Widening Dupont St. (Act March 4,1876) —
Savannah, Oa.—New compromise bonds
Somerville, Mass.—City debt
City debt
1877
1,000
500 &c.
1858
1863 to '64 500 &c.
500 &c.
1864
500 &c.
1865
1866 to'67 500 &c.
1867
500 &c.
1870 to'72 500 &c.
500 &c.
1874
1872 to '75 500 &c.
1871 to '73 500 &c.
1874
500 &c.
1875 to '76 500 &c.
1876
1879
^
.
^
^
^
_
^
_
100 &c.
Large.
1000&C.
Large.
Large.
Large.
1,000
1,000
1,000
■
Park &wat’r ($170,000 A.&O.;
Water loan
$155,000 J.&J.)
Springfield, Mass.—City notes
City bonds
Water loan ($200,000 are 6 per cents)
•
•
A
Railroad loan
Toledo, O.—General fund city bonds, coup
Toledo & Woodville Railroad, coupon
Water works
Short bonds, chargeable
on
special assessm’ts
Worcester, Mass.—City debt, coup,
and regist’d.
City debt, registered (5 pieces,$100,000 each)
do
($250,000 reg., $550,000 coupon),
do reg. ($200,000 J.&J., $300,000 A.&O.)
8ewer loan ($92,000 are J.& D., balance J.&J.)
Water loan ($305,400 reg., $80,000 coup.).
Real
Years.
Personal
Rate of
Tax per
Estate.
Property.
$1,000.
$84,981,000
$36,084,200
$14 50
7
7
6 g7 & 6 g.
6 g.
6 g-
*
«,
A
'70,'71,'76
1870
1873 & '74
1875-’78
•
•
^
•
•
^
m
Large.
•
•
*
•
•
•
-
500 &c.
500 &c.
Various.
500 &c.
-----
*
Where Payable, and by
Pay’ble
Whom.
750,000
915,000
3,000,000
10,000
Funds. &c.
.
or
do
do
do
+
m
May 1, 1895
1894 & 1899
do
do
Jan.1, 1900
Dec.
Y., Nat. B’k Commerce.
1880
1889 to 189(>
April 1,1905
May 1,1895
1880 to *90
1883 to'86
1889, ’90, '96
1888 & '98
1900
1903
1898
m m
461,000
165,000
115,000
140,854
200,000
325,000
6i*
6^2
6
m
m
J.
April 1, 1904
1880 to 1889
Jan. 1, 1891
pi. 1,1883-1898
July 1,1904
Jan. 1, 1888
Oct. 1, 1883
July 1, 1894
May 1, 1895
April 1,1881
Oct. 1, 1887
ane 1,1882 to '90
July 1, 1894
1897 & 1904
1, 1891
July 1,1894
Nov.
1899
1896
do
do
m
& J.
Q-F.
10,1892
July 1,188T
Sept. 1,1888
June, 1892
■
6 g7 g.
5
7
1,1893
Nov.
London.
do
New York and Savannah.
A. & O. Boston, Nat.
do
A. & O.
do
J. & J.
do
Various
Security Bank
do
do
do
do
do
do
do
Feb. 1, 1909
April 1, 1879
April, 1879 to '84
July 1,1880 to'84
Oct.’81-’4,July,'85
do
July, '84, Apl.,'95
Various
do
Apl.,'95. July, '96
5
Various
1881 to 1884
do
Various
6%
1880 to 1906
do
320,000 5^,6,612 Various
1879 to 1884
Various
City Treasury.
222,000
4ig,6
1880-1889
6
Various Boston, First National B’k,
211,000
do
do
Apl. 1,'94, to 1905
A. & O.
6 & 7
1,200,000
do
do
A. & O.
Apl. 1,1879-1893
7
280,000
1880 to '94
1,310,000 6, 7 & 8 Various N. Y., Imp. & Trad. N. Bk.
May, 1900
do
do
M. & N.
7-3
447,000
June.’93& Sep.,'94
do
do
Various
8
1,000,000
1879 to'81
do
do
Various
7 & 8
640,300
1879-1884
J. & D.
5 & 6
City Treasury.
45,000
Jan. 1,1881
do
J. & J.
6
500,000
April 1, 1892
A. & 0. C.Treas.&Bost. Mchts.’ Bk.
6
800,000
1887-89 & 1905
do
do
Various
5
500,000
1880 to 1899
do
do
Various
5 & 6
311,900
1880 to1906
do
do
Various
5
&
6
385,400
Sinking
$9,632,246
10,294,446
10.590.550
10.475.550
•
J. & J.
J. & D. N.
5*3
-
v
Personal
Assets in
Total
Debt.
New York
M. & N.
M. & N.
J. & J.
Due.
-
Various.
Various.
When
J. & J. N. Y., Nat. Bk. Commerce.
do
do
J. & J.
do
do
M. & S.
do
do
J. & D.
do
do
J. & J.
do
do
A. & O.
1,900,000
do
do
M. & N.
500,000
707,425 5, 6 & 7 M. & N. N. Y.j Kountze Brothers.
do
do
M. & N.
7
48,710
do
do
Various
8
263,125
do
do
6
J. & D.
200,000
do
do
6
J. & D.
100,000
do
do
7
100,000
do
do
7
J. & J.
100,000
do
do
6
A. & O.
115,000
City Treasury.
108,000 5*2 & 6 J. & J.
J. & J; Boston, Merchants’ Bank.
6
300,000
do
do
A. & O.
6
500,000
do
do
J. & J.
5
398,500
San Francisco.
6 g- J. & J.
542,000
do
7 g. A. & O.
435,500
do
7 g. J. & J.
377,000
do
7 g. M. & N.
250,000
do
7 g. A. & O.
197,000
do
7 g. A. & O.
246,000
do
7 g. J. & D.
385,000
do
6 g. J & J.
200,000
do
6 g. J. & J.
475,000
do
6 g- M. & N.
210,000
do
7 g. J. & J.
150,000
7 & 6 g.
100,000
500,000
600,000
850,000
Large.
r
6g.
950,000
Large.
do
do
do
do
Principal—When
ipai—
Amount
or
$1,123,442
Years.
Real Estate.
Property.
$20,836,710
18,835,525
18,993,545
$6,919,216
6.340,493
Rate of Tax
per $1,000.
22 mills.
16
“
18
“
13
“
15
“
Total
Debt.
$1,323,812
1,332,500
Sinking
Funds, &c.
$616,292
551,755
567,642
616,000
656,000
1,327,200
1,356,444
5,491,026
1,519,310
5,942.503
17,300,766
28,765,600
86,816,100,
—Valuation
of
real
estate
is
40
cent
of
value.
about
per
true
(V.
28,
p.
State valuation, $168,547,726; city valuation, $115,581,200
578.)
Salem, Mass.—The sinking fund amounts to about $200,000, and the
Rochester.—Total debt, $5,966,410.
The bonds of Genesee Valley bonds are valued at par; $1,146,000 of debt coupon, balance registered;
Railroad loan, $168,000, are provided for by net receipts from a lease of total, $1,452,678. Population, 1875, 25,958.
Tax valuation, 1879,
said road to Erie Railway. Assessed valuation (60 per cent of true $22,978,677.
San Francisco.—Population by the United States census of 1870 was
value), rate of tax, &c., have been:
Rate of tax
149,482, against 56,802 in I860; in 1876 claimed 272,000. Real estate
Total
Real
Personal
per $1,000
for the fiscal year ending June 30,1878, was assessed at $190,221,003;
Debt.
in old Wards.
Years.
Estate.
Property.
personal property at $70,041,340. About $54,000,000 of mortgages are
18*75
$5,594,686 now omitted from assessment. Sinking funds raised annually amount to
$53,661,475
$1,958,900
20-21
5,549,186
48,196,975
2,003,800
$263,500. Tax rate in 1877-8 was $1 60 per $100, for city and county
19-64
5,471,686 purposes. (V. 28, p. 165.)
42,658,350
1,706,300
21-79533
5,446,186
37,717,175
1,584,940
Savannah, Oa.—Default was made on interest Nov. 1, 1876, in conse¬
Richmond, Fa.—Real estate assessed, 1880, $28,348,283; personal, quence of yellow fever and non-collection of taxes. The compromise
as reported in V. 26, p. 625; gave new 5 per cent bonds for the face of old
$7,471,488. Tax rate, $1 40.
bonds; and for interest up to Feb. 1,1879, 58 per cent of the face value
Rockland, Me.—Valuation of real estate, 1879, $2,488,883; personal, in similar bonds. Assessed value of real estate and tax rate each year
$1,069,436. Tax rate, $29 per $1,000.
have been as follows: In 1875, $13,932,012, $22 50; 1876, $14,256,540,
SI. Joseph, Jfo.—Population in 1870 was 19,565.
Assessed valua¬ $22 50; 1877, $14,256,540, $15; 1878, $9,946,633, $25; 1879,
tion of property, $11,000,000; rate of tax,-23 mills. A compromise $10,100,000, $25. Population in 1870, 28,235, against 22,292 in 1860.
of the debt at 60 per cent of its face is in progress, in new 4 per cent
—(V. 26, p. 18, 626; V. 27, p. 122, 173, 568; V. 28, p. 17.)
bonds, except for bridge bonds 5 per cent. (V. 23, p. 135, 175; V. 25,
Somerville, Mass.—Total debt, January 1, 1880, $1,585,000; sinking
p. 408 ; V. 28, p. 477.)
St. Lou is—Population by the United States census in 1870 was fund, $198,000. Except $140,000 5s in $1,000 pieces, all bonds are in
310,864, against 160,773 in 1860. The city and county were merged $2,000 to $50,000 pieces.
85,789,800
86,341,100
32,085,000
30,699,400
*/....
14 50
14 50
14 00
1,195,253
1,292,697
1,237,008
17,300,486
5,452,871
-
.
Springfield. Mass.—Total debt, January, 1880,
$1,960,750. The rail¬
by law in 1877 and city assumed the county bonds. The Comptroller
gives the following in his report to April, 1879: The liabilities appear as road debt falls due $20,000 each year. Population in 1875, 31,053. Tax
follows: The bonded debt at the close of fiscal year (April 9, 1880) is valuation and rates have been:
Total
Personal Rate of Tax
Sinking
$22,507,000. A claim of the St. Louis Gaslight Company for gas fur¬
Funds.
Debt.
Property. per $1,000.
Real Estate.
nished. amounting in all to about $850,000, was decided against the city in Years.
13 00
303,989
1,946,611
6,955,776
23,737,000
1880. The sinking fund at the commencement of the present fiscal year
11 00
153,633
1,953,716
6,637,845
22,746,330
was $547,181.
Assessed valuation of property and tax rate have been:
12 00
1,960,750
139,279
7,230,094
22,211,230
-Rate of tax per $1,000.
Real Estate
Bonded
New
Old
Sinking —Valuation of real estate is about 67 per cent of true value.
and Personal
Funds.
Debt.
Limits.
Limits.
Years.
Property.
Toledo.—Total debt, January, 1879, was $3,531,296. Of this the
$19 00
$16,319,000 $718,588 payable by special assessments was $640,300, and the certificates of
$20 00
$162,465,410
17
50
5
00
716,802 Indebtedness, $103,147. Taxable valuation of real estate, 1878, $134,23,067,000
179,708,760
17 50
5 00
590,095 030,070; personal, $5,567,000. Tax rate, $3 28 per $100. (V. 30, p. 356.)
22,655,000
173.086,330
5 00
547,181
22,596,000
164,399,470
Worcester, Mass—Total debt, January 1, 1880, $2,542,300. Assets*
$210,658, including $94,937 sinking fund. Population, 49,317 in 1875.
St. Paul, Minn.—Population in 1870 was 20,030; in 1879 (claimed) ,
52,000 Assessed valuations of taxable property and tax rate have been; Tax valuation, 1870, $34,018,450; 1878, $39,572,158; tax rate, 1-56.
^
dei)t
V;K'^'
Subscribers will confer a
great.favor by giving
DESCRIPTION.
of column headings,
on first page of tables.
For explanation
&o., see notes
Alabama Central—1st mortg. gold coupon
Ala.dk Qt.South’n.—Receiver’s certiflc.of Ala.&Chatt
1st mortgage, coupon, (for $1,750,000)
Susquehanna—Stock
1st mortgage
Albany City loan (sinking fund, 1 per ct. yearly).
Albany dk
2d mortgage
Consol, mort. (guar.
D. &H.) coup., may be reg...
Allegheny Valley—Stock
General mortgage (Riv. Div.)
Bonds to State Pa. (endorsed) 2d mort.. East ext.
1st mort., East’n Exten., guar, by Pa. RR...:
Funding income bonds, with traffic guarantee....
Alliance dk Lake Erie—1st mort., gold
Ashtabula dk Pittsburg— 1st mortgage, coup, or reg..
Atchison Col. dk Pacific— 1st mort., guar
Atchison d Nebraska—Stock
1st mortgage
Atchison Topeka d Santa Fe—Stock
INTEREST OR DIVIDENDS.
Size, or
Par
Value.
Outstanding
1878
$1,000
$1,000,000
600,000
1,000
1,100,000
3,500,000
1,000,000
-
296
177
142
142
142
142
259
132
110
110
♦ “
Amount
-
187*8
100
■*
1863
1865
1865
1876
1,000
1,000
1,000
1,000
1870
1871
1874
1878
1878
*30
62
234
176
149
1879
|
1878
2,166,500
4,000,000
-.
1,000
100,000
1,000
3,000,000
10,000,000
6,986,800
100 Ac.
150,000
1,500,000
16,000 p. m.
3,344,650
100 Ac.
1,125,000
100
22,000,000
500 Ac.
7,041,000
500 Ac.
3,115,500
1,000
1,000
1,000
76581.w781
.
& West, (leased), stock
do
do
1st mort., gold
do
do
income bonds
Pueblo & Ark.?Valley (leased), 1st mort., gold
1870
do
do
1st M., gold
.
.
.
1878
500 Ac.
1872
1,000
...
44
854,000
1875
1878
1,000
1,633,000
1877
500
7
6
7
7
Where
Whom.
Payable
J.
M.
J.
J.
J.
M.
A.
A.
pal, When Due*
Payable, and by
Stocks—Last
Dividend.
July 1, 1918
A J. N. Y., Jesup, P. A Co.
1882
A S.
Jan. 1, 1908
A J. N.Y.,Farmers’ L. A T. Co
A J. N. Y., B’k of Commerce. Jan. 1, 1880
July, 1888
A J. N.Y.,Del. A Hud.Can.Co
Nov., 1895-’97
do
do
A N.
Oct., 1885
do
do
A 0.
April 1, 1906
do •
do
A 0.
7*30 J. A J. N. Y., Winslow, L. A Co. March 1,1896
5
Jan’ary Harrisburg, Treasury. 100,000 y’rly.
7 or 6 g. A. A 0. Philadelphia or London April 1, 1910
Oct. 1. 1894
Pittsburg.
A. A O.
7
1873
New York.
7 g. A. A O.
F. A A. Phil., Fid. I.T. AS.D.Co. Aug. 1, 1908
6
May 1, 1905
6
Q.-F. N. Y., Un. Pacific RR.
Dec., 1878
Boston, Office.
1
Mar. 1, 1908
Boston, at Office.
M. A S.
7
May 25, 1880
Boston.
F. A A.
1*2
July, 1899
do
7 g. J. A J.
Oct. 1, 1900
do
7 g. A. A O.
1903
do
7 g. A. A O.
1882
do
J. A J.
7,
Jan. 1, ’83-’88
do
J. A J.
8
*
7 g.
3
7 g.
J.
A J.
F.
A A.
J.
A J.
7 g.
J.
A J.
_
958,000
450,000
....
7 g.
120,000
July
Boston.
do
do
do
Boston.
do
1880
July 1, 1905
1905
1907
Boston.
A. A 0.
1, 1902
Feb. 2,
*
Atchison Colorado d Pacific.—A notice issued in Feb., 1880, by Henry
Day and Oliver Ames, trustees of the first mortgage
the Waterville & Washington, Republican Valley, Atchison Solomon
Valley & Denver and the Atchison Republican Valley &
bonds, stated that
Pacific railway
1,1872, and finances companies had been consolidated into anew company called the Atchison
Colorado & Pacific Railroad Company, and a new first mortgage of $16,000
mile, with interest at 6 per cent per annum, issued to take the
place of the first mortgage bonds of the railroad companies named. The
road is an extension of the Union Pacific Central Branch, by which the
bonds are guaranteed and the road is controlled, and the whole system is
virtually owned and controlled by Union Pacific. (V. 30 p. 221.)
a
(14&
Aug. 27,1872.
opened to ajunc¬
Reorganization took
bonds1,1878.
tie old
Slace
March
($3,500,000)
Underwere
the exchanged
scheme for 30 per cent in new bonds,
and 70 per cent in new stock; and over-due coupons, reduced 50 per cent,
paid in stock. In March, 1880, this road was leased to the Burlington A
Missouri River in Nebraska, and with that road goes under the Chicago
Burlington & Quincy management. (V. 28, p. 399; V. 30, p. 221.)
Atchison Topeka d Santa Fe.—Main line, Atchison, Kan., to State lin^,
Colorado, 470 miles; proprietary lines, December 31,1878, 398 miles;
additional lines built in 1879—in Kansas, 191 miles, and in New Mexico,
268 miles; total at close of 1879, about 1,327 miles. Construction in
active progress and road opened to Santa Fe. An agreement was made
in February, 1880, with the St. Louis & San Francisco, for the joint con¬
struction of a line to the Pacific, under name of Atlantic & Pacific.
For terms see St. Louis & San Francisco in this Supplement, and also
the circular published in Chronicle of April 24,1880. The company In
1879 was engaged in sharp litigation with the Denver & Rio Grande. In
January, 1880, the terms of mutual agreement, by which the suits
were all to be terminated, were reported as follows: That the Atchison
Topeka A Santa Fe Company relinquishes the lease of the Denver A Rio
Grande, and consents to the restoration of the latter company’s stock.
The Denver & Rio Grande goes back to its owners, and the company is
to have the line to Leadville (through the Grand Canyon) upon tne pay¬
ment of the cost of the road already built by the Atcliison Company, and
$400,000 in addition. The latter company has completed about twenty
miles of the road, and the grading for the rest of the way. The Denver
& Rio Grande is to stop the construction of its Pueblo and St. Louis line
east from Pueblo. Its extension into New Mexico is to be built only to a
point half-way between Conejos and Santa Fe. The Atchison Topeka A
Santa Fe Company agrees not to build to Denver or Leadville, or to any
other point on or west of the Denver & Rio Grande Railroad. An equal
division of the Leadville, San Juan and other Southern Colorado busi¬
ness from the Denver & Rio Grande, is to be made between the two
companies at Pueblo. The Atchison Topeka A Santa Fe will also receive
one-quarter of the Denver traffic with the Missouri River and eastern
points. The Atchison Topeka & Santa Fe Company reserves the right to
build a line of about thirty-three miles in length to its coal mines fn
Colorado, for coal trains only, the coal to be used for its own purposes
and for sale down the Arkansas Valley. The agreement is to be binding
for ten years, and a judicial decree is at once to be entered to affirm this
settlement. The annual report for 1879 was published in the Chronicle,
Atchison & Nebraska.—The road
miles) was opened
Default was made Sept. 1,1873. In 1880 the road has been
tion with the Union Pacific at Columbus, Nebraska.
....
Astabula Harbor, O., 62*6
Pittsburg in 1870, and road
opened May 1, 1873. Pennsylvania Company, as lessees, guaranteed
Bonds up to January 1,1877. Default July 1,1878, and property sold
August 21,1878. Existing company organized September 25,1878, and
it is leased by Penn. Co., which pays net earnings to A. & P. The com¬
mon stock is $958,491 and preferred stock $700,000.
Earnings, Ac., for
five years were as follows:
Years.
Stock.
Bonds.
Earnings. Expenses. Profits.
$1,817,582 $1,900,000 $226,816 $168,486 $58,330
1,817,582 ' 1,900,000
266,641
178,998
87,643
2,000,000
176,993 50,213
1,817,880
227,206
1,671,867
1,500,000
271,658
181,731
89,927
1,658,491
252,604
1,500,000
183,625 68,978
3*3
When
200.000
....
Alabama char¬
A Chattanooga
Length of road, 290
miles; operated length (including 6 miles leased from Nashville Chatta¬
nooga & St. Louis), 296 miles. Default made January 1,1871, and
road sold under foreclosure January 22, 1877.
Present company
organized November 30, 1877. New company assumed Receiver’s cer¬
tificates and issued new bonds for $1,750,000. The lands were conveyed
in full settlement to the holders of the $2,000,000 of Ala State bonds.
These lands (about 550,000 acres) are held by trustees. (Y. 30, p. 117.)
The road and equipment have been thoroughly renewed. Capital stock—
Common, $7,830,000, and preferred 6 per cent, $783,000; funded debt,
$1,750,000, and Receiver’s certificates, not exceeding $1,200,000; total
as per re-organization terms, $11,563,000.
Over $400,000 of the Re¬
ceiver’s certificates are disputed, and therefore only about $200,000 of
those above are acknowledged as valid. Gross earnings in 1879, $444,181, and operating expenses, $351,513; net earnings, $92,668. (V*27,
p. 67, 85, 121. V. 30, p. 117, €48.)
Albany d Susgiiehanna.—Chartered April 19,1851, and road opened
January 14, 1869. Length, Binghamton to Albany, 142*59 miles.
Steel rail, 135 miles.
Leased in perpetuity from February, 1870,
to Delaware & Hudson Canal Company; rentals, 7 per cent on
stock and bond&. Additions and betterments charged to lessors, and
cost made part of investment. In 1871 lessees built the Lackawanna &
Susquehanna Railroad from Nineveh to their Pennsylvania coal fields,
and secured the joint use of the Jefferson Railroad. This opening has
given a large coal traffic to the road and to the other Delaware A Hud¬
son leased roads north from Albany to the Canada line.
Capital stock,
$3,500,000; funded debt, $6,045,000, and other liabilities (advances,
Ac.), $373,461; total investment ($69,559 per mile), $9,918,461. The
consolidated mortgage is for $10,000,000, of which $3,450,000 is to
retire old bonds, and balance for a part of old stock and to lessee for
improvements. Operated road, including two leased branches, 177
miles. Gross earnings in 1879, $1,218,237, and net earnings $558,268,
against $456,580 in 1878. Interest, dividends, and rentals, $700,761.
Boss to lessees, $142,493. (V. 27, p. 602; V. 29, p. 581.)
Allegheny Valley.—Chartered April 4, 1837. Road opened through
to Oil City (132 miles) February 2, 1870. Low-Grade Division, Red
Total length,
Bank to Driftwood (110 miles) opened May 4, 1874.
including branches, 259*2 miles.
The company became embar¬
rassed in ,1874 and compromised with its creditors. It still falls short of
earning interest liabilities, which amount to $1,630,000 a year, viz.: on
mortgage bonds, $1,152,000, and on income bonds, $478,000. The amount
of income bonds authorized is $10,000,000; these receive all revenue left
after interest on prior liens, and any deficiency is made up by additional
Issues. The income coupon for April 1,1880, received $8 00 in cash
and $27 00 in bond scrip. Of the income bonds the Pennsylvania Rail¬
road Company hold $4,233,000, the interest on which is paid altogether
in bond scrip; the bonds held by individuals are paid in cash and scrip.
Interest and sinking fund paid, $1,152,486. Interest, Ac., in excess of
net earnings, $390,651. The earnings, Ac., for. five years were as follows:
Freight (ton)
Gross
Passenger
Net
Years.
Mileage.
Earnings.
Earnings.
Mileage.
1875
12,448,963
95,859,906
$2,399,638
$984,642
1876:.... 14,939,527
1,083,796
98,029,140
2,438,254
19,833,405
106,609,036
2,492,080
1,144,972
84,077,541
1,910,222
15,874,054
915,727
1879
94,606.809
1,745,316
13,976,446
761,835
—(V. 27, p. 356; V. 28, p. 399; V. 29, p. 356; V. 30, p, 463.)
Alliance d Lake Erie.—Alliance, O., to Stonington, O., 30 miles, of
'
6
8
6 g.
2,250,000
1878
Alabama Great Southei'n.—Northeast & Southwest
tered December 12, 1853. Re-organized as Alabama
October 6,1868, and was opened May 17,1871.
which 6 miles under construction in 1880. .
Ashtabula d Pittsburg.—Youngstown, O., to
miles; organized as Ashtabula Youngstown A
78,000
480,000
500,000
412,000
1,000
1875
Central.—Chartered as Alabama & Mississippi February 17,
1850, and road opened from Selma to York (81 miles) August 10,1863,
Subsequently name changed to Selma A Meridian, and June 21,1871.
re-organized as Alabama Central. Default January
re-adjusted in 1878. Road opened from York, Ala., to Lauderdale,
Miss. (14 miles) November, 1878, and joint use of Mobile & Ohio to
Meridian (18 miles) leased. Total line owned, 95 miles; operated line,
113 miles. Capital stock, $2,000,000; first mortgage (on 95 miles) 6 per
cent 40-year, bonds, due July 1, 1918, $1,000,000. Income mortgage
8 per cent (if earned) 40-year bonds, due July 1, 1918, $1,400,000;
total stock and bonds under re-adjustment, $4,400,000. Gross earnings
in 1879, $204,319, and expenses, $144,236; net traffic earnings, $60,083.
(Y. 27, p. 40, 566.)
Alabama
160,000
.
100
Kang. City Top.
do
1st mortgage
do
Pleasant Hill & De Soto (leased), stock
1869
867
mortgage, gold
Band grant mortgage, gold
Consol, bonds, gold
Construction notes
Band income bonds, 5 to 10 years
Wichita A Southwest, (leased), stock
do
do
1st M., gold, guar
1st
Rate per
Cent.
933,000
1,967,000
2,320,000
50
is 6*6
discovered In these Tables.
Bonds—Prmci
Immediate notice of any error
Miles Date
of
of
Road. Bonds
95
15
STOCKS AND BONDS.
EAILEOAD
June, 1880. J
adopted, the old stock was sunk;
V. 30, p.
491.
Net income, etc., for
1876.
four years was as follows:
1877.
$1,171,878 $1,191,856
Total net income
Disbursemen ts—
Rentals paid
Interest on debt
Dividends
295,404
669,035
Sundry debits
Gold premium;.
Exp’ses Boston office.
Miscellaneous
55,662
16,668
14,326
120,783
Balance, surplus
279,921
833,653
25,734
17,733
14,124
20,691
1878.
1879.
401,267
790,513
836,772
795,446
691,311
72,812
$1,928,589 $3,748,410
45,799
4,083
30,199
*40,490
22,108
634,620
1,311,57*
Total
$1,171,878 $1,191,856 $1,928,589 $3,748,410
Operations and earnings for five
years have been Gross
as follows: Net
Freight (ton)
..
.
Passenger
Mileage.
Earnings.
Mileage.
Miles.
$1,520,358
46,244,990
7,166,852
711
2,486,582
61,791,130
17,031,491
711
2,679,106
72,719,170
22,008,549
786
3,950,868
31,921,869 133,180482
868
6,381,443
1879.....1,167
Two million dollars stock was issued for equipment,
Land grant estimated to be 2,932,784 acres, of
were sold to Januaiy 1,1879.
The K. C. T. & W. is
Years.
Earnings.
$821,608
1,167,608
1,191,856
1,883,898
3,418,315
&c.,June, 1879.
which 865,161 acres
leasd at 30 per octet
of gross earnings, rising to 34 per cent in 1880 and thereafter. H10
New Mexico & Southern Pacific is leased for thirty years at 37 per cent
of gross earnings and a rebate of 15 per cent on all business to and from
the Atchison Topeka & Santa Fe Road, and 11 shares of A. T. A S. Fstock was offered for 14 shares of N. ,M. A S. P. stock till April 10, 1880 ;
8ee V 30,p. 168, 383.
(V. 28, p. 120,222, 301, 379, 4(H), 427, 4IS.
502, 553, 623, 641; V. 29, p. 40, 66, 95.119, 224, 293, 356, 406, 489,
562, 583, 630; V. 30, p. 16, 42,143,168,191, 383, 408, 433, 491, 504.
533, 543.)
16
RAILROAD
Subscribers will confer
a
STOCKS
AND
BONDS.
great favor by giving Immediate notice of any error discovered in these Tables.
DESCRIPTION.
Miles Date Size, or
For explanation of column headings,
of
of
Ac., see notes
par
on first
page of tables.
Road. Bonds Value.
Atchison Topeka d Santa Fe—(Continued)—
Florence El Dorado A W. (leased), Stock
do
do
1st mort.. gold
New Mexico A So. Pacific—1st mortgage, gold
Atlanta d Charlotte.—New pref. mort
Mortgage bonds
Atlanta d West Point—StocK
Atlantic Miss, d Ohio—Stock (com’n. pref. A
guar.)..
1st mort. consolidated, gold (for
$15,000,000)
2d mort. to the State (no interest till
1880)
*
Norfolk A Petersburg—1st
mortgage, extended..
do
do
1st
do
do
do
do
2d
do
South Side—1st pref. consol, mort
do
2d *
do
guar. Petersb’rg
do
3d
do
Virginia & Tennessee—Enlarged mortgage
clo
do
4th mortgage.7. ~
do
do
Registered certificates
do
do
Interest funding bonds....
Atl. d Pac. -lstM.,g.,s.f.,cp.orreg.(for$25,000,000)
Income bonds (non-cumulative)
Atlantic d St. Lawrence—Stock, sterling
Portland city bonds, 1st mort.,
sinking fund
2d mortgage, sterling, 5-20 years
3d
do
do
do
1874-56./
Augusta d Savannah—Stock
Bald Eagle Valley—Gen’l mort.,(s. f. $4,000
Baltimore d Ohio—Stock
Preferred stock
Washington branch
per yr.>
31
380
265*2
1877
1878
1877
265*2
87
428
428
428
81
81
81
133
133
133
214
214
....
,
....
150
150
150
150
53
54
m
m
m
Baltimore loan, 1855-’90, sink, fund
30
1,000
;. 9
100
100
100
1870
1855
....
500,000
4,250,000
1,232,200
6,921,900
5,470,000
4,000,000
306,000
157,000
458,000
684,000
621,000
452,500
990,000
969,000
84,190
226,900
25,000 p. m.
Richmond, Va., to Atlanta, Ga., 550 miles.
Capital stock $1,700,000,
$4,750,000; total investment ($23,978 per mile),
$6,450,000. Total receipts in 1879 $777,298, and expenses $623,294;
net earnings, $154,003. Interest paid (preferred
mortgage coupons),
$35,000. Surplus over interest, $119,003. Interest on the first mortgage
debt
registered bonds ($4,250,000) has heretofore been conditional; but from
Jan. 1, 1880, it is compulsory. (V. 28, p. 277,
427; V. 30, p. 272, 432.)
Atlanta d West Point—East Point, Ga., to West
Point, Ala., 81 miles.
Chartered December 6,1847, and opened for traffic
September 10, 1857.
The Central of Georgia is used to reach Atlanta, 6*2
miles, and for this
joint use the company pays $6,000 a year. Besides the stock ($1,232,200)
there are outstanding $83,000 in 8 per cent debentures. Cost of road,
equipment, Ac. ($14,784 per mile), $1,193,636; gross earnings in 187879, $330,262; expenditures, $206,892; net, $123,370; gross
earnings in
1877-78, $321,140; expenditures, $198,705; net
revenue, $122,435.
Interest liability in 1878-79, $5,628, and dividends (8
per cent), $98,576.
Surplus, $19,166. (V. 27, p. 121; V. 29, p. 300.)
Mississippi d Ohio— This
was a consolidation, November 12,
1870, of Norfolk A Petersburg, South Side and Virginia & Tennessee;
in all, with branches, 428 miles.
In all these routes the State of Vir¬
ginia held the controlling interest, and on reorganization sold out to the
company for $4,000,000 in second mortgage bonds, non-interest
before July 1,1880. Default on consolidated bonds was made bearing
October
1, 1873. Two receivers appointed June 6, 1876. In process of fore¬
closure. Interest has been paid
by Court order on sectional bonds. The
divisional bonds matured and
maturing up to July, 1880, have been
extended for ten years by order of the
Court, and new sheets of coupons
are issued to the holders.
Interest on the divisional bonds is paid two or
three months after it falls due. A final decree of sale under
the con¬
solidated mortgage was made in
May, 1879, but the date of sale
not fixed. The scheme of reorganization is
substantially as follows:
The suit of the trustees for the foreclosure of
the 7 per cent consoli¬
dated mortgage will be prosecuted to a final
decree, and at the sale the
“Purchasing Committee” will purchase the property. A new company
is to be organized and the
following to be issued—viz.: first
mortgage 6
per cent gold bonds, for $6,000,000, having thirty
years to run from the
first of January, 1880, will be issued and delivered
to the “ Purchasing
Committee” in trust. These are to be used in
funding the divisional
securities. All the divisional securities funded are
to be held in
trust,
400,000
14,777,600
5,000,000
1,650,000
1,710,000
2.882,956
2,833,520
Years.
—(V. 28, p.
648.)
Dividend.
July 1, 1907
A. A 0.
J. A J.
J. & J.
New York, Office.
do
April 1, 1897
Jan. 1, 1907
7 g.
A. & O. N.
8
7
8
8
6
6
6
8
8
8
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
A.
M.
M.
A.
M.
J.
J.
M.
J.
M.
A.
M.
J.
.
3*2
1,000
pal,^When Due.
Stocks—Last
do
do
1,022,900
1880
Bonds—Princi¬
A. & O.
100
1864
1871
Where Payable, and by
Whom.
Pay’ble
7 g.
7 g.
7 .
7
4
£100
£100
1,000
When
Boston.
•
5,484,000
787,000
1,500,000
713,000
i868
The line forms the Southwestern Division of the Piedmont Air-Line
(under control of the Richmond & Danville Railroad), extending from
Atlantic
Cent.
6 g.
6
3 g.
6
6 g.
6 g.
5,
1876, and purchased by the bondholders, who formed the
existing cor¬
poration February 27, 1877, and possession was taken April 16, 1877.
.
Rate per
18,750 p. m.
£100
Atlanta d Charlotte Air-Line.—Charlotte, N. C., to
Atlanta, Ga., 269
miles. Successors ot Richmond & Atlantic
Air-Line, which was a con¬
solidation (1870) of three separate lines in North
Carolina, South Caro¬
lina and Georgia. The whole road was opened for traffic
September 28,
1873. Soon after completion default was made, and
the property passed
to a receiver November 25, 1874.
Sold under foreclosure December
funded
2,212,000
1871
1871
1857
500 Ac.
1857
500 &c.
1868
1,000
1866
1,000
1866
200 &c.
1866
200 Ac.
1854
1,000
1865
1,000
Var’us Various
1869
100 Ac.
1880
1,000
i853
....
Outstanding
187-9
1,000
1,000
....
INTEREST OR DIVIDENDS.
Amount
$450,000
310,000
1,000
100
.
595
Loan, 1853
do
1870,sterling, £800,000, sink, fund
and
[Vol. XXX.
6
4
3
5
6
6
6 g.
1908
Atlanta, Ga., atTreas’y.
Jan. 1.
Y., First Nat. Bank.
Oct.
J. N.Y., Perkins A Choate.
J.
do
do
'
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
Lynchburg Office.
J. N.Y., Perkins A Choate.
J. New York and Boston.
0.
S. London, Gr. Trunk Rw.
N.
Portland.
O. London, Gr. Trunk .Rw.
N.
do
do
D.
Savannah.
J. Phila.,Fid’lityI.T.Ac.Co
N.
Baltimore Office.
J. Balt., Merchants’ Bank.
N.
Baltimore Office.!
O.
Baltimore Office.
S.
London.
A J.
Baltimore, Office.
Jan.
&
&
&
&
&
&
&
A
&
&
&
A
&
&
&
&
A
&
&
&
A
A
A
1880
1, 1901
1, 1887
1, 1887
July 1, 1893
Jan. 1, ’84-’90
Jan. 1, ’84-’90
Jan. 1, ’86-’90
July 1, 1884
Mch. 1, 1900
Jan. 1, 1875
July 1, 1880
July 1, 1910
Oct. 1, 1910
Mar. 15, 1880
May 2, 1886
Oct. 1, 1884
Oct. 1, 1891
Dec., 1879
Jan.
Jan.
1, 1910
May 15. 1880
Jan., 1880 *
April 16, 1880
1885
1895s
1890
Passenger
Mileage.
Freight (ton)
Gross
Net •
Mileage.
Earnings. Earnings.
9,470,228
70,797,576 $1,781,710 $486,889
8,079,780
73,662,480
1.673,131
612,043
97, 199, 223, 476, 624; V. 29, p. 356; V. 30, p. 66,272,298,
Miles.
428
.428
Atlantic d Pacific.—This is the company formed to build to the Pacific
coast in connection with the Atchison Topeka A Santa Fe and the St.
Louis A San Francisco, which companies
guarantee 25 per cent of the
gross earnings over their respective lines to and from this road.
The
bonds were sold at par, with a bonus of $750
in income bonds for each
$1,000 first mortgage. The land grant claimed under the old A. & P.
grant is 25,609 acres per mile in Territories and 12,800 acres in States.
See Chronicle, V. 30, p. 433.
Atlantic d St. Lawrence—Portland, Me., to Island
Pond, Vt. (149*2
miles), there connecting with Grand Trunk of Canada, to which leased
for 999 years, August 5, 1853, at a rental equal to 6
per cent on stock
and bond interest. Capital, $5,484,000 (of which
$27,000 is in U. S.
currency), and bonds $3,000,000.
Total investment, $8,484,000, or
$56,560 per mile. In 1879, £100,000 bonds were paid off by the issue
of stock. Earnings, Ac., for four years:
Years.
Gross Earnings. Net Earnings.
1875
$1,071,988
*$32,279
1876
983,449
*242,601
1877
891,375
'
*234,675
1878
921,959
92,584
*
Loss.
—(V. 27, p. ,147.)
Augusta d Savannah.—Millen to Augusta, 53 miles.
Chartered as
Burke County in 1838 and opened in 1854.
Leased to Central of
Georgia. Has no bonded debt; the capital ($13,830 per mile), $733,000,
represents its cost. Rental, $73,300 per annum. Dividends of 3*2 p. p.
are paid June and December each year. Has
a considerable surplus fund.
Bald Eagle Valley.—Vail Station, Pa., to Lockhaven, Pa., 51 miles, with
branch to Bellefonte, 3 miles; total, 54 miles.
Opened December 7,
1864, and leased to Pennsylvania Railroad Company for 99 years. The
branch is the joint property of the lessors and lessees. Rental, 40
per
cent of gross earnings. Interest, $24,000, and dividends
(January and
July, each 2*2 per cent), $27,500). Stock, $550,000. This general mort¬
gage, dated Jan. 1,1880, was provided for the replacement of the two
series of bonds.
(V. 27, p. 486.)
Baltimore d Ohio.—Baltimore, Md., to Wheeling, W. Va., 379 miles;
branches, 56 miles; total owned, 435 miles; and leased lines oper¬
ated with main line, 118 miles; total represented in
operating accounts
of the “ main stem and branches,” 553 miles; lines
operated and
accounted for separately measure 902 miles; making the total of all lines
controlled and operated by company about 1,455 miles.
In all these
lines separately operated the Baltimore & Ohio company are very largely
interested, and have absolute control thereof. An abstract of the last
annual report is given in'the Chronicle, Vol. 29, p. 535, and the follow¬
ing extracts are quoted therefrom. The subjoined exhibits show the re¬
uncanceled, by the trustees, for the security of the holders of
bonds, and
shall only be canceled when all such divisional
securities shall have
been funded. If any surplus of bonds remains in
the hands of the “ Pur¬
chasing Committee, after all the divisional securities are funded, such duction of the indebtedness stated during the fiscal year;
REPORT OP OCTOBER 1, 1878.
surplus of bonds shall be canceled, or the surplus proceeds of bonds sold
shall be paid over to the new
$2,420,000
company. There are to be issued second Sterling debentures due in 1880 and 1881
' 2,563,302
mortgage 5 per cent gold bonds, for the principal of the consolidated 7 Bills payable
per cent gold bonds, at par, the new bonds
Sterling obligations and loans
2,554,959
the first of April, 1879, these bonds to bear having 50 years to run from
Total
interest at 4 per cent for the
$7,538,261
first five years and 5 per cent thereafter.
REPORT OF OCTOBER 1, 1879.
This second mortgage is not
to be foreclosed except by request of “at least
one-fifth of the outstanding Sterling debentures due in 1880 and 1881
$2,420,000
bonds, secured by the mortgage, and not then unless the said
mortgage Bills payable (for the payment of which the
trustees shall deem such proceedings judicious and
money is on hand)
539,000 ’
advantageous to
such bondholders
generally.” There snail be issued first income 4 per Sterling obligations and loans
620,507
cent currency bonds, to represent at par
the over-due interest on the con¬
Total
3,579,507
solidated bonds to the first of April,
1879; the difference between the
interest secured by the consolidated 7
$3,958,753
per cent gold bonds and the Showing a reduction during the year of
Add payments on account of the principal of debt and of the
interest secured by the new second
gold bonds, capitalized
from the first of April, 1879, to the mortgage
sinking funds during the fiscal year
648,584
first of October, 1901, inclusive.
There are to be issued second income 6
per cent cuiTency bonds, to settle
Aggregate
reduction
\.—
$4,607,338
the claim of the State of Virginia, for
$4,000,000. These bonds will be Semi-annual dividends of 4 per cent upon the capital stock were made
subordinate in all respects, in point of
obligation and interest, to the first in stock on the 15th of November, 1878, and on the 15th of May, 1879.
income bonds. The new
company will create and issue, from time to These dividends amounted to an increase of the capital
tune, to the “ Purchasing Committee” such an amount of
reorganization
as the “Purchasing Committee”
may deem expedient and as may be
conformable to law. “ The
‘Purchasing Committee’ shall consist of four
members, including a chairman, all or whom shall be nominated
by the
committee of. consolidated bondholders.” There is
a project for the
consolidation of this company, after foreclosure
sale, with the East
Tennessee Virginia & Georgia and the
Memphis A Charleston, so as to
^lrouK“ ^ne from Ilorfolk and City Point to Memphis—a total
length of road equal to 992 miles. Operations and earnings for five years
past were:
stock
Years.
Passenger
Miles.
Mileage.
428
10,671^980
1 428 '
*10,616,924
428
9,531,442
Freight (ton)
Mileage.
55,982,364
60,610,288
67,531,874
Gross
Earnings.
$1,782,453
1,742,251
1,791,579
stock of
And the issue of the remainder of the
series, amounted to
Making.,
preferred stock, second
$1,114,836
1
400,421
$1,515,257
—whilst the reduction of the indebtedness was $4,607,338, showing the
application of $3,092,080 beyond the amount of stock issued, with
$646,634 on hand in the treasury, after providing for the payment of
$216,300 for the interest on the bonds of the company of maturing October
1, 1879. After charging the loss on the stock of the North German Lloyd
Steamship Company, $295,102, the profit and loss account shows an
Net
increase for the past year of $1,092,738. It will be seen by this account
Earnings. that the surplus fimd, which represents invested capital derived from
$673,506 net earnings, and which is not represented by either stock or bonds, now
r
540,539' amounts to $38,204,657.
It is shown by the report of the transportation department that the
600,633
.
>
RAILROAD STOCKS AND BONDS.
June, ipso.]
•
.
Subscribers will confer a great favor
DESCRIPTION.
For
explanation of column headings, Ac., see notes
on first page of tables.
Bonds on Parkersburg Branch
Northwestern Virginia. 3d mortgage, 1855-85 ...
Bonds to State of Maryland
Baltimore & J'otomac—1st M (tunnel) gold.s. f. 1 p. c.
1st rnort., road, gold, coupon, s. f. 1 per cent
2d mortgage, income, road and tunnel, reg
1188772465-2-354693.$, 198
by giving immediate notice of any error discovered in tlic # Tables.
Miles
Date
Size, 01of
Par
of
Road. Bonds Value.
Baltimore & Ohio—(Continued)—
Debentures, sterling
Sterling mortgage, sinking fund
Sterling mortgage, sinking fund
Purchase of Connellsv. RR (payable $40,000 y’iy)
Loan., ster., (s. f. £7,500) lien on Chic, line bonds
41 i
421
....
263
104
....
.. .
.
.
89
90
49
56
64
64
64
84
59
21
Bangor dPiscataquis—Bangor loan, 1st mortg. ...
Belleville d South. Ill—1st M., siuk’gfund, guar.....
Belvidere Del.—1st mort. due 1877, extended, guar.
2d mortgage bonds of 1854 (guar, by C. A A.)
3d mortgage bonds of 1857 (
do )
do
Consol, mortgage of 1876
Bennington d Rutland—1st mortgage
Berkshire—Stock
Boston d Albany—Stock
Plain bonds
Loan of 1875, coupon or registered
Boston Barre d Gardner.—1st mortgage
Bost. Ctin.d Fitchb.d N.B.— Stock ($1,750,000
1st mortgage, Agricultural Branch
1874-5
1872
1874
1875
1877
1879
1855
1878
1871
1871
1875
1869
1866
1877
1854
1857
1876
1877
....
324
....
1872
1875
....
....
pref.)
Mortgage bonds 1869-70
Bonds
38 J2
151
29
43
....
Equipment notes
....
....
1854
’69-’70
1876
....
N. Bedford Railroad bonds ($400,000 are 7s)
Boston Concord d Montreal—Preferred stock
Com. stock (for old dividends A new stock)
....
....
’61-’74
166
.
.
.
.
....
1858
1873
Sinking fund bonds
Consolidated mortgage bonds (for
160
$2,000,000)
17
£200
£100
£200
....
Outstanding
When
Where Payable, and by
Cent.
Payable
Whom.
6 g.
6 g.
6 g.'
6
$2,420,000
8,507,352
9,107,547
840,000
7.741.000
5
$1,000
3,000,000
140,000
366,000
1,068,000
1,000.000
499,500
745,000
6
6
6
6 S’
6 g.
6
6 A 7
8
6 6
6
1,200.000
7
.
.
....
1,000
1,000
1,000
500 Ac.
1,000
1,000
500
500
1,000
1,000
100
100
1,000
1,000
100 Ac.
....
1,000
1,000
....
1,000
500 Ac.
100
100
100 Ac.
100 Ac.
1874-659.
1,500,000
3,000,000
2,000,000
814,000
7
475,000
1?4
600,000
4
20,000,000
7
5,000,000
6’
2,000,000
5
400,000
3,047,700 212 oil pf.
6
400,000
7
799,600
7
528,000
6
870,000
6 A 7
571,500
1874-5609
3
800,000
1,000,000
624,000
1,874,500
pal .When Due.
Rate per
£200
m
Bonds— Princi¬
INTEREST OR DIVIDENDS.
Amount
J.
M.
M.
J.
J.
A.
J.
J.
J.
A.
J.
A.
A.
J.
M.
F.
J.
M.
A J.
A 8.
A N.
A J.
A D.
A O.
A J.
A J.
A J.
A O.
A J.
A 0.
A
A
A
A
A
A
A
A
A
A
N.
A.
J.
O.
....
J. A
J. A
J. A
A. A
J. A
M. A
London, Naylor A Co. Jan. 1,’80&’81
London.
Mch. 1, 1902
1910
London, Speyer Bros.
-
Baltimore.
Lon..J. S. Morgan A Co.
Balt.A N.Y., D.,M.A Co.
J.
J.
1880-1900
1927
June 1,
April 1,1919
1885
Balt., Meeh’s Nat. Bank
Baltimore.
Baltimore or London.
do
do
Baltimore.
July 1, 1888
July 1, 1911
April 1, 1911
Jan. 1, 1915
Boston, Second N. Bank April 1, 1899
N. Y., Russell Sage.
Oct. 1, 1896
O.
D.
Philadelphia.
do
S.
do
A.
J. Treasurer. Trenton,N.J.
N.
N.Y., Union Trust Co.
Q.-J.
M.
F.
J.
A.
Stocks—hast
Dividend. -
1902
1835
1887
Jan.
Nov.
1, 1916
1, 1907
Stockbridge, Treasurer. April 1. 1880
Boston, Office.
May 15,1880
do
Feb. 1, 1892
do
July 1, 1895
Worcester, City Nat. Bk. April 1, 1893
Boston, Office.
April, 1880
Boston, Boston N. Bank July 1, 1884
do
do
1889 A ’90)
do
do
June 1, 1896
D.
do
do
O.
’8i,’82,’83,’85
J. Boston, Suffolk N. Bank July, '81 A ’94
N.
Boston, Office.
May 10, 1880
‘
6*
6 A 7
J. A J.
A. A O.
Boston, Office.
do
do
1889
1893
1,425,629 tons, brauch to New York line, 5 miles; total, 59 miles. Chartered as Western
preceding year it was 1,149,499 tons. For 1877 this traffic Vermont in 1845, and completed in 1854. Leased in 1857 to Troy &
Boston for 10 years at $36,000 per annum. Consolidated in Harlem
was 1,047,645 tons; for 1876, 1,093,393 tons; for 1875, 872,101 tons;
for 1874, 752,256 tons; for 1873, 640,265 tons; for 1872, 557,609 tons: extension in 1870, and leased to Central Vermont in 1873. Lease aban¬
and for 1871, -*35,207 tons. 743,381 barrels of flour and 29,622,895 doned by lessees (themselves in a chronic state of bankruptcy) in 1877.
bushels of grain were brought to Baltimore during the fiscal year, being Since September 10, 1877, the Vermont division (as above) operated by
a decrease of
34,830 barrels and an increase of 8,983,241 bushels, there-organized Bennington & Rutland. Stock $1,000,000 (par $100),
respectively. Of this aggregate of grain, 18,467,498 bushels were and bonds $500,000; total, representing cost of road ($25,425 per mile),
wheat.
The receipts of wheat for the preceding year by the Baltimore $1,500,000. Interest liability, $35,000 a year.
A Ohio Railroad were 9,365,233 bushels, showing ail increase of
Berkshire.—Connecticut State Line to West Stockbridge, Mass., 22
9,102,265 bushels, and ail increase over 1877 of 15,960,898 bushels. miles. Chartered in 1837, and road opened in 1842. Leased in per¬
For 1877 the receipts of wheat were 2,500,600 bushels, and for 1876,
petuity to Ilousatonic Railroad Company at 7 per cent on capital stock
620,300 bushels. The receipts of corn for 1875 by the Baltimore A and cost of road ($27,273 per mile), $600,000. Lessors pay taxes, Ac.,
Ohio Railroad were 5,591,633 bushels; for 1876,15,948,107 bushels; which reduced the dividends to about 6 per cent, .and the quarterly divi¬
for 1877,13,290,714 bushels; for 1878, 10,164,285 bushels; and for
dend due in October is omitted. Used as the Housatonic’s main line in
1S79, 10,065,530 bushels, showing a decrease of 98,755 bushels com¬ Massachusetts.
pared with the preceding year. The passenger earnings exhibit a
decrease from $1,200,846 in the preceding year to $1,171,033. Large
Boston d Albany.—Boston, Mass., to Albany, N. Y., 202 miles, and
reductions were made in the tariffs for local travel in Maryland and numerous branches, 48 miles, or a total of 250 miles; leased lines, 74
West Virginia on February 15, 1879. The coal trade of the Main Stem miles, or a total operative length of 324 miles. In 1880 leased Springshows an aggregate of 1,596,004 tons, which includes 382,792 tons for field A Northeastern. Formed (December, 1867) by the consolidation of
the company’s supply, being an increase of 112,928 tons over the pre¬ the Boston A Worcester and the Western railroads. Main line (all steel)
ceding year. Results of operating “main stem and branches” for seven double track. Abstract of last annual report published in Chronicle,
V. 29, p. 488. Results of operations for five years were as follows:
years:
Years.
Gross Earnings.
Operating Expenses. Net Earnings.
Passenger Freight (ton)
Gross
Net
Div.
$12,252,844
$7,318,048=59-72 p. c.
$4,934,796 Years. Miles.
Mileage. ’
Mileage.
Receipts.- Receipts.* p. ct.
11,693,955
6,675,895=57-80 “
5,018,060
318 119,720,916 282,309,789 $7,869,954 $2,498,051 10
10,514,179
6,178,801 = 58-74 “
4,337,378
322 110,644,410 .301,624,988
7,074,758
9
2,391,764
9,632,361
5,411,635=56 18 “
4,220,726
322 103,278,126 313,822,671
6,780,597
2,167,831
8
8,262,045
4,605,151=55*73 “
3,656,893
322 101,221,955 329,708,573
6,633,534 2,219,536
8
8,563,956
4,524,344=52*83 “
4,039,611
6,427,463
8
324 101.248.321 325,484,799
2,703,638
*
8,864,826
4,523,581=51*02 “
4,341,245
Net receipts include income from rents, Ac.
Dividends for 5 years, 1872-77, 10 per cent ; for 1877-78, 7 ^ per cent; Stock increased from $19,664,100 to $20,000,000 in seven years, and
and for 1878-79, 8 per cent. The three dividends from May, 1878, to bonds from $3,037,000 to $7,000,000. Cost of road, Ac., October 1,
May, 1879, inclusive, were paid iu stock. Results of operating all lines 1872, $24,301,752, and September 30, 1879, $27,514,116.
In the
owned and controlled for the seven years 1872-79;
meantime, upwards of $1,300,000 have been taken from surplus fund
Years.
Gross Earnings.
Net Earnings. and applied to depreciation account. (V. 29, p. 328,488 ; V. 30,p. 600.)
Operating Expenses.
tonnage of tlirougli merchandise east and west lias been
whilst in the
$10,141,623=64-62
14,947,090
14,444,239
15,031,236
13,208,860
13,765,279
14,193,980
The Baltimore & Ohio direct bonds
secured by deposit
V. 29, p. 145, 225,
p. e.
9,461,651=63-30 1 “
9,908,665=68*59 “
9,609,857=63 94 “
8,226,055=62*28 “
7,769,301=56*44 “
7,691,595=54*18 “
of 1879
on
'
$5,551,575
5,485,439
4,535,574
5,421,379
4,982,805
5,995,978
6,502,385 liability at 7
Parkersburg Branch are
(V. 28, p. 223, 276, 378;
of mortgage on that road.
250, 328, 510, 535 ; V. 30, p. 544.)
Baltimore d Potomac—Baltimore, Md., to Washington,
and from Bowie to Pope’s Creek, 49; total, 90 miles.
Boston Barre d Gardner—Worcester to Winchendon, Mass., 37 miles,
and lessees of Monadnock Railroad, Winchendon, Mass., to Peterboro’,
N. IL, 16 miles; total operative length, 53 miles.
and road completed in 1874. Leased Monadnock Railroad for 99 years
from October 1,1874. Interest has been reduced to 5 per cent. Interest
D.C., 41 miles,
Chartered in
.1853; road opened to Washington in 1872 and to Pope’s Creek in 1873.
Baltimore Tunnel opened in summer of 1873. The road is controlled by
Chartered in 1847,
per cent,
Boston Clinton
$38,801, or at 5 per cent, $27,715. (V. 29, p. 40,406.)
Fitchburg d New Bedford— Fitchburg, Mass., to New
Bedford, Mass., 91 miles, with
branches (34 miles), in all 125 miles.
The Framingham A Lowell Railroad, 26 miles, is also leased. Consoli¬
dation (June 1,1876) of the B. C. A F. and the N. B. railroads, both of
which had been consolidations of other original lines. The Framing¬
ham A Lowell is leased for 998 years and 4 months from October, 1879.
The whole property was leased (Fel>. 1,1879) to the Old Colony Railroad
Co. for 999 years, the lessees agreeing to pay as rental 1023 per cent of
the gross earnings of the
roads; but in no case rental
be less than 6 per cent on debt. The
per
Pennsylvania Railroad Co., and first mortgage bonds guaranteed by
consolidated
is
to
Pennsylvania Railroad A Northern Central Railroad Companies. Fore¬
cent equipment notes
old 8
closure is contemplated.
Capital stock, $3,553,250, funded debt, were converted (Feb. 14, 1878) into a preferred stock, and its 8 per
$6,500,000, and other liabilities and accounts, $132,002; total, Dec. 31, cent bonds into 6 per cent bonds. The rental for the year ending Feb. 1,
1879, $10,185,252.
Road and equipment, $9,099,295; materials and 1880, was $355,951, which left, after paying all charges, a surplus of
cash assets, $93,238 ; profit and loss, $992,718. Gross earnings in 1879, $90,375. Out of this was paid a dividend of 2 per cent on the preferred
$699,772; expenses, $526,201; profits, $173,570. Interest, $272,317. stock, October, 1879, and 2^ declared payable April, 1880, leaving a
Deficiency, or guarantors’ loss, $98,746. Income bonds wholly held by surplus of $11,620. (V. 27, p. 537; V. 28, p. 40, 120; V. 30, p. 221.)
Pennsylvania Railroad Co. (V. 28, p. 598 ; V. 30, p. 493, 588.)
Boston Concord d Montreal.—Concord, N. H., to Wells River, Vt., 94
Belleville d Southern Illinois.—Belleville, Ill., to Duquoin, III., 56 miles, and branches 73; total, 167 miles. Chartered in 1844 and road
miles. Chartered February 15, 1857; opened December 15,1873, and opened in 1853.
Pm-chased White Mountain Railroad (53 miles) in
leased, during construction, October 1,1866, to St. Louis Alton A Terre 1872, and built the Mt. Washington Branch (20 miles) in 1874. An
Haute Railroad Co. Lease rental 40 per cent of gross earnings up to extension of the White Mountaiu Railroad from Groveton Junction to
$7,000 per mile; 30 per cent above $7,000 and up to $14,000 per mile, Colebrook and into Canada is mortgaged. Fiscal year ends March 31.
and 20 per cent on any excess of $14,000 per mile. Rental for 1878,
Gross
Expenses,
Available
$98,351. Bonds guaranteed by lessees. Common stock, $430,000; pre¬
Revenue.
Years.
Miles.
Earnings.
Taxes, Ac.
ferred S per cent stock, $1,250,000, and first mortgage 8 per cent sinking
160
$564,194
$523,986
$140,208
fund bonds, $1,068,000; total ($48,759 per mile), $2,750,000. Operated
160
693,355
511,343
182,012
in connection with the Belleville Branch of St. Louis Alton A Terre
649,308
457,377
167
181,931
Haute Railroad, and extended from Duquoin to El Dorado, 50 miles, by
453,172
167
654,272
201,100
the Belleville A El Dorado Railroad Co.; extension opened Oct. 31,18 79.
167
388,932
201,618
590,550
167
678,123
477,251
200,871
Bclvhlcrc Delaware—Trenton, N. J., to Manunka Chunk, N. J., 69
miles. Chartered March 2, 1853, and opened Nov. 3, 1865. Leased to The old preferred stock ($800,000) has always received 3 per cent
United Companies, and transferred to Pennsylvania Railroad March 7, semi-annually, amounting to $48,000 a year. Neither the new preferred
the common stock has been paid dividends. A proposal has been
1876, by which operated as their Belvidere Division. Rental, all surplus nor
made to scale down the two latter stocks and make them equal to the
earnings, but the first, second and third bonds are guaranteed. Gross old
preferred. Stock account, $1,800,000; funded debt, $2,555,800;
earnings 1878 ($9,284 per mile), $639,034; operating expenses (76*09 per
dividends and interest payable, $15,848, and income balance, $585,694;
cent), $486,279; and net earnings ($2,219 per mile), $152,755. Capital
stock, $994,050; funded debt, $3,444,500, and floating debt, $157,524; total, $4,957,343. Per contra: Construction—Main line, $2,850,000,
total, $1,596,074. Cost of road and equipment ($61,700 per mile), and branches, $1,497,000; sinking fund, $201,500; other assets, $185,101; and cash and accounts, $223,738. Total property and assets.
$4,246,638. Operates Flcmington Railroad.
$4,957,343. There are also $25,700 old bonds due in 1865, and
Bennington d Rutland.—Rutland to Bennington, Vt., 54 miles, and $31,600 due in 1875. (V. 28, p. 577 ; V. 30, p. 599.)
the
.
RAILKOAD
18
Subscribers will confer
DESCRIPTION.
For
„
a
BONDS
AND
[Vol. XXX.
great favor by giving immediate notice of any error discovered in these Tables.
'
Miles
explanation of column headings, Ac.,
on first page of tables.
see
of
notes
Date
of
.
Road. Bonds
Boston Hoosac Tunnel d Western—Stock
Boston d Lowell—Stock
Bonds
Bouds
Bonds
Bonds
Boston d Maine—Stock
Bonds, coupon and registered
Boston d New York Air-IAne—1st mortgage
Boston d Providence—Stock
Bonds to purchase branches, coupon or registered
11887755--6969.
STOCKS
26
m
m
m
Brooklyn Elevated— 1st mort., gold (for $3,500,000)
Pronklyn d Montauk—Stock ($1,100,000 is pref.)
Southern of Long Island, 1st mortgage (S. Side)..
Buff Brad.d Pitts.—Gen. M.Jincl. 10,000 ac. I’d)
Buffalo New York d EHe—Stock
a
m m
m
Amount
Outstanding
Value.
500
1872
1875
1876
1879
204
58
64
or
Par
$....
82
+
INTEREST OR DIVIDENDS.
Size,
1873-1
1875
-
* ^
100
500 Ac.
500,000
100
4,000,000
1,000
1867
500 Ac.
1,000
100
Buffalo N. 1. d Philadelphia—1st mort., gold
2d
mortgage
Burlington. C. kaput s d- Northern—Stock, guar
1st mortgage
7
Iowa City A Western, 1st mortgage, gold, guar..
Burl, d Southwest—1st mort., main line, cp. or reg.
Cairo d St. Louis— 1st mortgage
Cairo d Vincennes—Stock ($2,000,000 of it is pref.)
California Pacific—1st mortgage, gold
2d mortgage, endorsed by Central Pacific
3d mort., guar, by C. P. ($1,000,000 are 3 p. c.)
Camden d Atlantic—Stock ($838,150 of it pref.)
1st mortgage (extended 20 years in 1873)
2d mortgage
367
57
90
.
144
156
139
139
139
67
.
60
1876
1871
1878
1876
1879
1870
1871
1869
1871
1875
1,000
500 Ac.
500 Ac.
100
100 Ac.
1,000
1,000
1,000
1,000
1,000
500
50
1853
2
7
7
6
5
J. A J.
3*2
M. A N.
J. A J.
F. A A.
M. A N.
J. A J.
M. A S.
<*)
2,000,000
17875-69 81
Now mortgage
Payable
500,000
....
..
57
26
142
140
121
121
When
Cent.
$800,000
3,250,000
999,500
500,000
750,000
620,000
6,921,274
3,500,000
1,000
1873
1879
Rate per
1,000
750^000
Whom.
do
do
do
do
do
Stocks—Last
Dividend.
Boston, at Office.
do
pal,When Due.
July 1, 1880
April 1, 1892
1,1895
July 1, 1896
March
1899
7
7
4
7
6 g.
7
7
7
6 g.
7 g.
6,500,000
456,000
1,800,000
2,500,000
5
7 g.
8
7
3kj
M. A
J. A
J. A
J. &
J. A
g.
g.
6
pf.
g.
Boston, at Office.
do
do
New York.
Boston, at Office.
do
do
New York.
S. N. Y., Gallatin Nat. B’k
J. New York, Erie Office.
N. Y., Erie Railway.
D.
do
D.
do
J. N. Y.t Farm. L. A T. Co.
May 15, 1880
Jan., 1893A94
Aug. 1, 1895
May 1, 1880
July 1, 1893
Sept. 1, 1917
Mar. 1, 1887
Jan. 1, 1896
Dec. 1, 1879
June 1, 1916
July 1, 1896
Q.—M. Buffalo, F.A M. Nat. Bk.
J. AD.
M. A S.
M. A N.
A. A O.
(5,500,000
7
2,250,000
o
1,600,000
3 A
3,000,000
1,215,550 3kj in
7
490,000
6
497,000
Payable, and by
>
A. A O.
M. A S.
J. A J.
580,000
95(&000
2,380,000
3,000,000
1,000,000
5j500'000
Where
Bonds—Princi
New York.
do
Boston, Co’s Office.
New York
A J. N.
A J.
A J.
J.
J.
J.
London.
or
Y., Nat’l Park Bank.
do
do
New York.
June
i.
1906
Sept. 1, 1909
May 1, 1895
Oct. 2, 1901
Jan. 1, 1889
1891
July, 1905
Camden, Co.’s Office. April 19,18 SO
J. A J. Phila., Farm. A M. B’k.
Jan., 1893
m
m
m
m
*
*
'
Boston Jloosac Tunnel d Western.—Projected line: Hoosac Tunnel,
Mass., to Fairhaven, N. Y., 200 miles. In operation from Mechanicville,
N. Y. (Revsselaer & Saratoga Railroad), to North Adams, Mass. (Troy A
Greenfield), about 40 miles. It has been built as a connecting line with
New England, via the Hoosac Tunnel, for the Erie Railway and other
roads. W. L. Burt, President, Boston, Mass. (Y. 30, p. 191, 493, 643.)
7 per cent on outstanding bonds, $40,600 a year. Capital
000. Ini March, 1880, a dividend of 1 per cent was paid.
Boston d Lowell.—Boston to Lowell (double and steel), 27 miles, and
Salem to Lowell, 30 miles; sundry branches, 19 ; total owned, 76 miles;
and Middlesex Central RR. (leased), 11 miles; total operative length,
87 miles. Chartered in 1830, and line between Boston & Lowell opened
in 1835. Second track laid in 1841. The Lowell & Lawrence and Salem
& Lowell Railroads, operated for some years under lease, were purchased
and consolidated in 1879. A joint business was formerly done between
the Boston A Lowell and the Nashua A Lowell, but from December,
centandoninterest
stock and
bonds
and by
$8,000
for organization
expense.
DiviSer
ends
paid
directly
the lessees.
Capital stock,
$950,000,
1878, they have been under separate managements.
Gross
Net
Earnings.
Earnings.
$1,169,114
1,181,724
1,081,066
$357,084
Years.
,——Payments
Rentals.
Div.,p.c.
$111,767
93,309
2
94,718
391,962
319,528
1,198,962
392,580
67,598
3
Dividends were 8 per cent up to close of 1873; 6*2 per cent in 1873-74.
—(V. 28, p. 624; V. 30, p. 42.)
Boston d Main — Boston, Mass., to Portland, Me., 115, and branch
lines, 11; total owned, 126 miles; lines operated under lease, 80 miles;
total operated road, 206 miles. Main line one-third double track and all
steel rail. Chartered in 1839, and road completed to South Berwick iu
1845 and to Portland in 1873. From 1843 to 1873 the Portland Saco &
Portsmouth Railroad was leased iu partnership with The Eastern Rail¬
road.
In February, 1880, there was talk of consolidating with the
Eastern
(Mass.) Railroad.
Gross
Net
Expenses
Outside Av’il’ble Div.
A Taxes.
Earnings. Receipts. Revenue, p.c.
$2,278,457 $1,523,966 $754,162 $92,162 $844,653
2,173,202
1,578,854
93,817
654,348
748,165
2 100,741
1,359,367
741,317
83,717
825,091
2,149,857
1,354,755
795,102
88,964
884,066
-HV. 29, p. 535 ; V. 30, p. 15.)
Boston <£• Neic York Air-Line.—Cedar Hill Junction, New Haven, to
Willimantic, Ct., 50 miles. Lessees of Colchester Railroad, 4 miles. Char¬
tered as New York & Boston in 1846, as New Haven Middletown A Wil¬
limantic in 1867, and under existing title in 1875. Road opened Aug.
13, 1873. The present company derive their rights from purchase under
foreclosure. The Colchester branch was opened Aug. 1, 1877. and rents
for $7,800. In 1879 a pooling agreement (for 99 years and 8 months
Years.
Earidngs.
from Feb. 1,1879) was made with the N. Y. New Haven A Hartford Rail¬
road. under which the B. A N. Y. A.-L. receives 6 per cent of the gross
earnings of all lines operated, out of which its operating expenses are
In 1879-80 gross earnings were $274,177; net, 148,039. Com¬
mon stock, $671,700; preferred stock, $2,240,500,
originally bonds of
New Haven Middletown A Willimantic Railroad Co.
(V. 28, p. 173,
352, 428, 577; V. 29, p. 621; V. 30, p. 66, 599.)
Boston d Providence.—Boston, Mass., to Providence, R. I., 44 miles,
and branches, 20 miles; total owned (all steel) 64 miles. Leased Attle¬
boro branch, 4 miles. Total operative line, 68 miles. Chartered in 1831,
and road opened in 1835. The company have valuable depot properties
in Boston, and during 1879 negotiations were entertained for a consoli¬
dation of the Boston A Providence and the Boston A Albany, so as to
utilize them by both companies.
paid.
Gross
Net Traffic
Other
Divi-
Years.
Earnings.
Receipts.
dends.
Earnings.
$1,439,864
$399,633
$27,895
8
1,352,564
378,032
20,797
6
1,185,040
348,069
6
21,377
1,158,643
311,782
19,595
6k?
Lease rental paid in the years consecutively was $9,219, $11,308,
$10,956 and $10,917. Notes outstanding Sept., 1879, $420,000. (V. 27,
.
565.)
Brooklyn Elevated.—In progress. Capital stock authorized, $5,000,
000, and 6 per cent gold bonds, $3,500,000. (V. 29, p. 328 )
Brooklyn d Montauk— (Southernof L. I.)—Busliwickto Patchogue, L.I.,
52 miles; branches to Fresh Pond Junction, 2 miles; to Rockaway, 10
p.
miles; to Hempstead, 5 miles; total operated, 69 miles. This was first
the South Side Railroad of Long Island, which was foreclosed Sept. 16,
1674, and reorganized as the Southern of Long Island. On June 3, 1879,
the property was again sold in foreclosure of the second mortgage, and
this company organized. The pref. stock has aSpreference of 7 per cent,
not cumulative. It is leased to the Long Island Railroad for 50
years
at 25 per cent of the net earnings of L. I. RR. and its leased lines.
(V. 28, p. 580; V. 29, p. 19, 96, 632; V. 30, p. 322; 600.)
Buffalo Bradford d Pittsburg.—Carrollton, N. Y, to Gilesville, Pa., 26
miles. Completed in 1866, and leased to New York Lake Erie A Western
for 499 years. In January, 1875, it was consolidated with other roads
under the title of
Pennsylvania A Erie Coal A Railway Company. No
further action, however, has been taken to carry out the project. Rental,
stock, $2,286,-
Buffalo New York d Erie.—Buffalo, N. Y., to Corning, N. Y., 140 miles.
A third rail for standard gauge rolling stock has been laid down. Leased
in 1863 to the New York A Erie for 490 years, and now operated by the
New York Lake Erie A Western Company. Rental, $240,100—viz., 6
and funded debt,
$2,380,000. Total, representing cost of road, $3,330,000.
Buffalo New York d Philadelphia.—Buffalo, N. Y., to Emporium, Pa.,
121 miles.
Consolidation (1871) of the Buffalo A Allegheny Valley
and the Buffalo A
Washington, and road completed in 1872. At Em¬
porium connects with Philadelphia A Erie. Gross earnings in 1879,
$954,682, and net earnings, $380,355. Capital stock, $1,971,450. Cost
of road and equipment, $6,587,854.
(V. 28, p. 252] V. 30, p. 16.)
T Burlington Cedar Pap ids d Northern.—Burlington, Iowa, to Albert
Lea, Minn, (including ll miles leased). 252 miles, and branches 183, or
a total of 435 miles.
Steel rail, 113 miles. Organized as the Burlington
Cedar Rapids A Minnesota June 30, 1868, and main line opened to
Plymouth 219 miles, and branches 149 miles, to end of September, 1873.
Default November 1, 1873. Property sold under foreclosure June 22,
1876, and given up to the purchasers July 1,1876. In 1879 the whole
property was transferred to the Chicago Rock Island A Pacific Rail¬
road Company, under a perpetual lease, the lessees agreeing to pay
interest on bonds and dividends on stock, at the rate of 3 per cent
yearly for five years, and of 5 per cent yearly thereafter; this lease
was
not ratified by the stockholders in February, 1880.
Gross
earnings (year ending June 30, 1879), $1,387,962, and net earnings,
$437,304.
Interest liability, $335,513, all paid. Disbursements also
include the purchase of the Chicago Clinton A Western Railroad property
for $162,799. Since the close of 1879 the company have
guaranteed
$456,000 of bonds issued for the construction of the Iowa City A West¬
ern Railway.
They also guarantee $150,000 of Minneapolis A St. Louis
bonds.
(V. 29, p. 224, 250, 432, 562; Y. 30, p. 17, 221.)
Burlington d Southicestcm.—Total operated length, Burlington, Iowa,
to Laclede, Mo., 181 miles, of which 39 miles are leased on joint-use con¬
tracts. There is also a mortgage of $1,600,000 7 per cent gold bonds,
due 1892, on the Linneus branch, 53 miles, and a second
$88,000 8
mortgage of
cents on the main line. Gross earnings, 1878-79, $206,704;
expenses and taxes, $199,187; net earnings, $7,517. Capital stock,
$1,793,700; funded debt, $3,488,000; receiver’s 7 per cent certificates
(for extension 22 miles in Missouri), $200,000, and a large amount of
floating debt. Default made Nov. 1, 1873, and property still in hands of
receiver, awaiting final decree of foreclosure. (V. 29, p. 300.)
Cairo d St. Louis.—Cairo, Ill., to East Carondelet, III. (3 ft. gauge), 147
miles. Opened through, March 1, 1875. Default made April 1, 1874*
and receiver appointed Dec. 6, 1877. Deficit in 1878, $9,914.
Surplus
in 1879, after deducting deficit of previous year, $4,373. Capital stock,
$4,565,000. Large amounts of county and town subscriptions remain
unpaid, and suits, so far, have resulted adversely to company. (V. 28, p.
451; V. 29, p. 17, 40; V. 30, p. 464.)
Cairo d Vincennes.—Cairo', HI., to Vincennes, Ind., 157 miles. Char
tered March 6, 1S67, and completed Dec. 16, 1872. Defaulted iu 1873.
Placed in hands of two receivers May 16, 1874. Sold Jan. 5, 1880, and
bought in for account of bondholders for $2,000,000, subject to receiv¬
ers’ certificates and claims for labor, Ac.
The capital stock was $2,624,300. The reorganization is altogether in the hands of Messrs. Drexel,
Morgan A Co., and no plan of settlement has been announced. (V. 29
p. 40; V. 30, p. 43, 341.)
per
California Pacific.--South Vallejo, Cal., to Sacramento, Cal., 60 miles,
Calistoga, 34 miles, and to Kaight’s Landing, ,19 miles;
with branches to
total, 113 miles.
Consolidation (Dec. 23, 1869) of California Pacific and
C. P. Extension companies. These lines were built by a construction
company, and turned over to the existing company January 19,1870.
Leased for 29 years, from July 1, 1876, to Central Pacific. Minimum
rental (coin), $o50,000 per annum, and in addition three-fourths of net
earnings in excess of that amount. General account (Jan. 1,1879)—
Capital stock, $12,000,000; fimded debt, $6,850,000; bills payable,
$1,219,577; and other liabilities, accounts, Ac., $286,113; total liabili¬
ties, $20,355,690. Property account ($171,034 per mile), $19,326,837;
accounts current, $390,890, and profit and loss, $637,963; total property
and assets, $20,355,690. Extension bonds of $3,500,000 and incomes of
$1,000,000 were in default, and the new bonds of 1875, guaranteed by
Central Pacific, were issued in place thereof.
Interest charges were
thus largely reduced bv exchange of old bonds for the present
lower-rate bonds.
Third mortgage (1875) bonds are guaranteed by
the lessees.
Camden d
Atlantic.—Camden, N. J., to Atlantic City, N. J., 60 miles,
May’s Landing, 7 miles; total, 67 miles. Earnings and
for three years past nave been ;
Earnings. '
Expenses.
Profit.
$477,483
$172,042
$300,449
.
399,061
277,848
121,213
and branch to
expenses
Years.
1878
1879
495,472
293,345
202,127
The preferred stock is entitled to 7 per cent if earned, and to as
rate as paid to common stock if more than 7.
(V. 30, p. 518.)
high a
favor by giving immediate notice of
Subscribers will confer a great
DESCRIPTION.
For
explanation of column headings, &c., see notes
on first page of tables.
Date
Miles
Size, or
Par
of
of
Road. Bonds Value.
31
Camden <6 Burlington Co.—1st mortgage
Canada Southern—Stock.
New mort., iuterest guar., (for $14,000,000)
Carolina Central—1st mortgage, gold, coupon
Income bonds, coupon
Catawissa—Common stock
100
291
242
242
92
'.
~
New
preferred stock
1st mortgage bonds
Chattel mortgage bonds
New mortgage
Cayuga <£• Susquehanna—Stock
Cedar Falls <£- Minn.—Bonds on 1st div., sink. fund.
Bonds on 2d division, sinking fund
Cedar Rapids <£ Missouri River—Common stock
Preferred stock, 7 per cent
1st mortgage.
mortgage
Central R. R. <£• Bank, Oa — Stock
General mort. “tripartite” bds ($5,000,000) coup.
Macon & Western bonds
Central Iowa—1st mortgage
bonds, “debt certificates”
Central of New Jersey—Stock
Mortgage bonds
Bonds (convertible Nov., 1875 to 1877)
Consolidated mortgage (for $25,000,000)
Income bonds, reg., (not cumulative)
Newark & New York, 1st mortgage
Lehigh & Wilkesbarre Coal Co., prior liens.
Income
....
Camden d•
100
35
14
61
274
70
58
146
mortgage
do
do
1867
1878
1873
1874
....
100
65
Old preferred stock
1st
1st
708
620
....
189
....
359
74
....
97
...
....
7
*
Consol mort
•
*
*
*
....
—
1872
....
1864
1866
1861
1863
1866
....
1872
1870
1879
1880
....
1869
1872
1874
1878
1867
1875
$500&c.
1,000
1,000
1,000
1,000
1,000
1,000
Net
earnings
Interest accrued...
1,000
1,000
1,000
1878.
1879.
Increase.
$2,480,873
2,070,258
$2,995,366
2,448,091
$514,493
377,833
$410,615
$547,275
$136,660
353,428
391,452
38,024
Surplus
$57,187 •.
$155,823
Charged to expenses in 1879 was $235,332 for renewals.
1873654.
500 Ac.
500 Ac.
100
Canada Southern.—Victoria, Ont.,to Amherstburg, Ont., 229^ miles,
and St. Clair Branch, 62 Lj miles; total (original line, all steel), 292 miles;
and miles absorbed on reorganization—-Erie A Niagara, 28
; Sarnia
Chatham & Erie, 7; Canada Southern Bridge & Ferry, 3; Toledo Canada
Southern & Detroit, 55, and Michigan Midland & Canada, 15; total of
all lines, original and acquired, 400 miles. Besides these the Chicago
A Canada Southern, 67 miles, was operated up to November 1,1879.
The average operative length of road for 1879 was therefore 456 miles.
The Canada Southern was chartered February 28,1868, and the whole
road opened in November, 1873. Default was made soon after, and a
reorganization forming the existing companies was completed in 1878.
Interest on the new bonds issued by the company is guaranteed by the
New York Central Railroad Company for 20 years; the principal is not
guaranteed. During* the year 1879 great improvements were made on
the lines a new ferry-boat purchased, and 31 engines and 1,100 freight
cars added to the equipment.
Expenses
1872-53694
100
500 Ac.
500 Ac.
100
100
500 &c.
500 &c.
500 Ac.
100
discovered in tbese Tables.
Rate per
When
Cent.
Payable
Whom.
6
F. A A.
Phil a. and Mt.
3
6 g.
7
J. A J. N. Y., Union Trust Co.
J. A J. N. Y. Office, 4 Broad st.
A. A O.
do
do
3^
3^2
M.
M.
F.
F.
F.
J.
A.
J.
$350,000
4,500,000
11,500,000
50
50
50
Burlington County.—Camden, N. J., to Pemberton, N. J., 23
earnings
Outstanding
100 Ac.
500 Ac.
1,000
1,000
1,000
any error
INTEREST OR DIVIDENDS.
Amount
15,000,000
13,497,311
3,000,000
3,000,000
1,159,500
1,000,000
2,200,000
230,500
209,850
1,300,000
589,110
198,000
1,334,000
6,850,400
769,600
700,000
582,000
2,332,000
7,500,000
3,750,000
102,000
3,700,000
629,000
18,563,200
5,000,000
4,400,000
15,000,000
2,450,000
600,000
miles, and branch to Mt. Holly, 7 miles; total, 30 miles. Leased to
Camden A Amboy Railroad Co., and now operated by the Pennsyl¬
vania Railroad Company,- lessees of United Railroad A Canal Com¬
pany’s lines. Lease rental, $44,415, being G per cent on stock and
bonds, and $500 for organization expenses.
Capital stock, $381,925,
and funded debt $350,000; total, being cost ot property, $731,925.
Dividends, January and July.
Gross
19
RAILROAD STOCKS AND BONDS.
June, 1880.]
7
7
4^2
7
7
1
,
A A.
A A.
A A.
A N.
A D.
A J.
A. A O.
J. A J.
A. A 0.
!
2%
Stocks—Last
Dividend.
1897
Holly.
Jan.
1, 1908
July 1, 1923
April 1, 1914
May 19, 1880
May 19, 1880
Feb. 1, 1882
1888 to ’89
Feb. 1, 1900
Jan. 1, 1880
April 30, 1884
Jan. 2, 1907
May 1, 1880
Boston, Treasurer,
do
do
Feb. 1, 1880
N. Y., Nat’l Park Bank. Aug. 1, 1891
do*
do
Ang. 1, 1894
do
do
May, 1916
Savannah, Ga.
June, 1880
New York A Savannah. Jan. 1, 1893
Macon, Ga.
Oct., 1880
New York, Office.
July 15, 1899
Q.-J.
7
7
7
7
7
7
7
Payable, and by
N.
Philadelphia.
do
N.
A.
do
A.
Philadelphia.
A.
do
J. New York, 44 South st.
O. N.Y.,J. S. Kennedy A Co
do
do
J.
Q.-F.
F.
F.
F.
M.
J.
J.
3%
7
7
7
3
7
7
7
7
A
A
A
A
A
A
A
A
Where
F. A A.
M. A N.
Q.-J.
M. A N.
J. A J.
*
do
New York,
do
urns,
1890
at office.
-
do
notice.
April 10,1876
do
do
New York,
do
do
Q.-M. N.Y.—Cent.
3
at office.
do
do
do
Nov., 1902
July 1, 1899
May 1, 1903
1887
RR. of N. J.
June
1, 1900
la., 272 miles, and Clinton Branch, 3 miles; total, 275 miles. Chartered
in 1855 and completed in 1866. Leased to and operated by Chicago A
Northwestern. Rental, $700 of the first $1,500 of gross earnings per
mile; 3313 per cent of next $3,000 per mile, and 20 percent of any
excess over $4,500 per mile.
Capital stock—Common, $6,850,400, and
preferred 7
per
cent, $769,600; and funded, debt, $3,614,000.
Total
stock and debt $11,234,000. Quarterly dividends, each of 1 per cent,
have been paid for several years on common stock; and semi-annual
dividends, each of 3^ per cent, on preferred stock.
Central of Georgia {<& Bank).—Savannah, Ga., to Atlanta, Ga., 294^
miles, and leased lines and branches, 419; total, 713^ miles. Consoli¬
dation (December 1, 1872) of the Central and the Macon & Western.
The principal leased line is the Southwestern and branches (310^ miles).
The company owns
large interest in connecting lines and in the Oeean
Steamship Line of Savannah.
Years.
/
Traffic
Gross.
Earnings.
$3,437,420
2,064,629
2,886,537
2,601,542
2,409,092
2,675,318
2,781,654
>
/—Payments from Net Earnings-^.
Net.
Leases.
Interest.
Divid’ds.
$1,155,262
$397,908
$149,187
557,153
419,531
1,199,832
588,698
493,586
179,492
252,129
285,444
$675,000
300,000
983,541
826,925
1,093,967
1,187,906
439,596
255,412
439,631
439,652
279,178^
272,428
187,500
375,000
375,000
This company and the Georgia Railroad Company are joint owners of
the Western Railroad of Alabama, purchased at foreclosure sale in
April, 1875. The “tri-partite” bonds are issued jointly by this company,
the Macon & Western and the Southwestern.
(V. 27, p. 381; V. 29, p.
655; V. 30, p. 143.)
$98,636
Central Iowa
Albia, la., to Nortliwood, Ta.; 189 miles, and coal
The last past branch, 2 miles; total, 191 miles. Chartered as Central Railroad of
year was the seventh since the road was built, and no extensive renewals Iowa and opened in 1871. Defaulted and placed in hands of a receiver
liad previously been made. Capital stock, $15,000,000; funded debt, in 1873.
Reorganized under present title, June 18, 1879, after fore¬
$13,741,420; coupons payable, $194,794; bills and accounts, $1,153,- closure sale under first mortgage July 18, 1877.
Gross earnings
548, and income account, $280,507; total liabilities, $30,370,269. in 1878-79, $715,563; net earnings, $160,545. The new stock issued is
Per Contra—Construction and equipment, $23,777,145; stocks and
$2,100,000 common; preferred stock, 1st, $907,000; and 2d, $1,167,800,
bonds of absorbed lines, &c., $4,919,226; material and supplies,
$266,824; bills and accounts, $921,588 ; traffic balances, $348,001, and
onds were issued to first mortgage bondholders in payment of four
cash, $137,484; total property and assets, $30,370,269. The total years’ net earnings, and are payable by the company on three months’
amount of new bonds authorized is $14,000,000, of which the company, notice.
(V 28, p. 17, 145, 299, 378, '453, 477, 553, 577; Y. 30, p. 168,
after providing for all claims, held a reserve of $191,583. The bonds
191, 221, 248, 433, 518, 433.)
carry interest at 3 per cent till 1881 and 5 per cent for the other 27
years. A bondholder’s suit on old bonds was decided in his favor.
(V.
Central of New Jersey.—Jersey City, N. J., to Phillipsburg, N. J., 73
30, p. 116, 141, 600.)
miles, and branches 57—total owned, 130 miles ; leased lines—in New
Jersey, 50, and in Pennsylvania, 215, total leased lines, 262 miles;
Carolina Central.—Wilmington, N. C., to Shelby, N. C., 242 miles. total
length operated, 395 miles. The principal leased lines in Pennsyl¬
Formerly Wilmington Charlotte & Rutherfordton, chartered in 1855. vania are the Lehigh & Susquehanna and the Lehigh A Lackawanna,
Succeeded by existing company after foreclosure May 3, 1873. Opened with their branches, Ac. The main line from Elizabeth to Phillipsburg
to Shelby in September, 1875. Defaulted, and receiver placed in pos¬ was
opened in July, 1852, and extended from Elizabeth to Jersey Citysession April 5, 1876. Sold in foreclosure May 31, 1880, for $1,200,000. in 1864. The
Long Branch division was opened in September, 1875.
Earnings in 1878-79, $420,765; expenses, $256,806; profits, $163,959. The lease of the Lackawanna A Susquehana Railroad is dated March 31,
In 1879-SO, gross, $466,519; net, $189,269.
The funded debt was 1871, and is virtually a consolidation agreement, the lessees having pur¬
$6,000,000 ; total (cost of property), $10,202,000. Wilmington Bridge chased the rolling stock. In February, 1877, the property was placed in
bonds, $200,000, at 7 per cent, guaranteed toy company and acknowl¬ the hands of a receiver, and on April 1,1877, default was made on con¬
edged by receiver. (V. 30, p. 384, 600, 622.)
solidated mortgage interest. Reorganization followed [See scheme, V.
26, p. 215], and has been a success.
Of the $11,500,000 Lehigh &
Catawissa.—Tamanend, Pa., to Williamsport, Pa., 93 miles, and a Wilkesbarre Coal bonds, $6,116,000 are held by Central of New Jersey
branch to Silver Creek mines, 4 miles; total, 97 miles. Chartered as and are deferred, having no claim for-interest till all other bonds are
Little Schuylkill & Susquehanna in 1831; name changed to Catawissa satisfied. No satisfactory report for 1879 has been issued, and the oper¬
Williamsport & Erie in 1849. Road opened Dec. 18,1854. Reorganized ations of the company and its financial condition are therefore not pre¬
under present name in 1859. Leased from Nov. 1,1872, for 999 years
cisely known, nor is anything made public as to the American Dock A
to Philadelphia & Reading. Rental, 30 per cent of
gross earnings and Improvement Company.
r$8,000 a year for company expenses. Funded debt is also assumed by
The Delaware A Bound Brook Railroad opened May 1, 1876, con¬
lessees. Seven per cent is guaranteed on the preferred stocks; common nects this road with the North Pennsylvania Railroad, and forms a
stock has the remainder, if any.
route between New York City and Phila4eiphia. It was leased in 1879
to Philadelphia & Reading RR. The American Dock & Improvement
Cayuga <& Susquehanna.—Owego, N. Y., to Cayuga Lake, N. Y., 35 Company, which is virtually owned by tlie railroad company, issued
miles. CharteredT as Ithaca & Owego in 1828 and opened in 1834. Re¬ a
mortgage in 1877 to secure its bonds. The brief abstract of opera¬
organized as Cayuga & Susquehanna in April, 1873. Leased in per¬ tions of the New Jersey Central only, exclusive of leased lines, was pub¬
petuity to Delaware Lackawanna & Western, Jan. 1,1855, at a rental of lished in Chronicle, V. 30, p. 272, showing gross earnings of $4,317,218
$54,600 a year. Dividends on capital, 9 per cent per annum. Capital and net earnings of $1,371,580 in 1879, against $3,641,626 gross and
stock (cost of road to present owners), $589,110. A considerable deficit
$1,315,374 net in 1878. Earnings, &c., were as follows:
to the lessees occurs from year to year.
Paid from Net Earnings
Net
Gross
«.
Leases.
Interest.
Dividends.
Years.
Earnings.
Earnings.
Cedar Falls <& Minnesota.—Waterloo, la., to Minnesota State line, 76
miles. Completed in 1870. Leased to Dubuque A Sioux City for 40
$8,881,366 $4,596,782 $1,150,304 $368,659 $1,600,000
4,391,610
1,128,434
807,406
2,000,000
years from Jan. 1,1867, at $1,500 per mile as a miniihum and a con¬
8,609,276
1,059,549 * 658,243
2,000,000
3,215,377
7,411,637
tingent
of
cent
earnings
from
$3,500
$7,500
mile
35
per
of
gross
to
per
and of 30 per cent of any excess over $7,500 per mile. Lease transferred
983,113
675,609
500,000
3,188,469
6,983,173
to Illinois Central, October 1, 1867.
706,345
563,114
2,484,846
5,753,413
Capital stock, $1,587,000, and
funded debt, $1,587,000. Total (cost of road), $3,174,000. A sinking
734,500
699,134
2,302,770
5,589,526
fund of 1 per cent per annum is provided. (V. 30, p. 90.)'
-(V. 27, p. 651; Y. 28, p, 120, *23, 476, 578; Y, 29, p. 197, 657; V. 30,
Cedar Rapid* & Missouri Aircr.—Cec&r Rapids, la., to Council Bluffs, p. 272, 408, 566.)
—
given for the old 2d mortgage bonds. In February, 1880, the income
,
Subscribers will confer a
great favor by
explanation of column headings,
on first page of tables.
Central Ohio—Common
Preferred stock
1st
Ac., see notes
Miles Date
of
of
Road. Bonds
gold, (2 sinking funds, $50,000 each)..
California State aid, gold (s. fund, $50,000)
Bonds, formerly conv. into U. S. bds (s.f.,$35,000)
Val.Br.,gld (s.f.$50,000,begins ’80)
lien on certain terms)
Pacific, 1st mort., gold, (s. t $25,000)...
1st m.S. Joaq’n
U. S. Loan, (2d
Income
bds.($6,000,000), skg.fd., 10 p.c.pcr ann’m
Champaign Havana <£•
West— 1st mort., pref
1st mortgage
Charlotte Columbia <£• Augusta—1st
2d Mortgage
Chartiers— 1st mortgage
mort. consol...
A!.—1st mort., convert
Chesapeake & Ohio—Purcli. money funding bonds...
1st mortgage, gold, “A” ($2,000,000)
Cherry Valley Shar. cC
do “B”
2d mortgage, currency (income
do
Old mortgage,
-
100
1865-8
50
50
146
742
158
123
152
152
20
1864
1862
1870
1,000
1,000
1,600
1,000
1,000
1,000
1878
1879
1869
1872
1871
1869
195
23
21
bonds)....
(Va. Cent. RR.) coupon
15,000,000
100 Ac.
10,000,000
i'0‘0
Columbus, O., 137 miles. Chartered in
Reorganized in 1865. Leased to the Balti¬
Nov. 11, I860; rental, 35 per cent of gross
the lease was extended to 1926. Gross
earnings in 1878-79, $846,512; net earnings, $272,700.
Lease
rental (35 per cent), $296,279.
Loss to lessees, $23,579. Total
liabilities of the company are $5,857,528.
Assets — construction
and equipment, $5,358,550; trustees of sinking fund, $389,182, and
other assets, $109,796; total property and assets, $5,857,528.
The
road between Newark A Columbus (33 miles) is owned jointly with the
Pittsburg Cincinnati A St. Louis Railroad Co. (V. 30, p. 544.)
Central Pacific—San Francisco, Cal., to Ogden, Utah, 882 miles, and
auxiliary lines, 330; total, 1,213 miles; operated under lease or con¬
tract—the Southern Pacific, 550; California Pacific, 115, and others,
482; total, 1,147 miles : total length of road operated and accounted for,
2,360 miles. Consolidation (August 22, 1870) of the Central Pacific,
California A Oregon, San Francisco A Oakland, San Francisco A Alameda
and San Joaquin Valley railroads. In connection with the Union Pacific,
the Central Pacific forms a continuous line from San Francisco, Cal., to
Council Bluff s, la. (1,918 miles), and there connects with the lines east¬
ward. Construction was commenced in February, 1863, and the main
line (Sacramento to Ogden) opened May 10, 1869. The Union Pacific
was completed on the same day.
The prices of stock and monthly earn¬
ings have been as follows:
Monthly Earnings.
1879.
1880.
$1,110,989 -$1,089,166
980,528
1,056,691
Tdarch
83*2- 76
1,280,272
1,228,592
April
80 - 72
1,529,255 <1,406,600
May
72 - 63
1,590,889
1,579,591
1,731,000
June
1,393,852
1,443,088
’.
1,458,833
July
1,533,702
August
1,726,667
1,556,457
September
1,769,477
1,649,429
October
...1,773,089
1,809,022
November
1,488,142
1,537,493
December
1,432,918
1,335,870
Earnings and dividends for several years have been as follows:
Dividend
Net
Operating
Ave.
Gross
Miles.
Earnings.
Accounts.
Earnings.
1,221
1,216
1,293
1,425
1,783
1,941
$12,863,953
$4,969,272
$7,894,681
8,342,899
5,268,132
6,487,200
7,857,211
to Stock.
$1,628,265 (3)
2,713,775 (5)
9,177,882
9,136,005
8,696,726
7,774,418
5,427,550 (10)
4,342,040 (8)
4,342,040 (8) '
8,744,739
8,786,119
17,153,163 11,206,725
1879.. 2,178
Leased lines rentals in 1878, $2,485,059;
interest on bonds, $3,954,780.
paid off July 1 and Sept. 1,1880.
V. 28, p. 623, and V. 29, p.
405. The land department makes the following exhibit: Total grant
from the United States (12,800 acres per mile), 7,997,600 acres; grant
to the California & Oregon Railroad, 3,724,800 acres; total, 11,722,400
acres.
The lands have been sold mostly on five years’ time, with a cash
payment of 20 per cent at time of purchase. There had been sold prior
to the execution of the land mortgage, October 1,1870,127,637 acres
for $295,065, and since that date as follows :
The 7 per cent bonds, due 1883, will be
The annual report was given in the Chronicle,
Oct. 1,
Years.
Acres sold.
1870, to Dee. 31, 1872.... 122,765
58,733
1874....
-
Trustees of
63,846
29,254
36,503
92,647
78,100
43,258
land mortgage held in May,
Total ain’t.
643,776
201,716
'
7
6
5
7
12
8
5
....
J.
J.
J.
A.
M.
J.
J.
.T.
A
A.
J.
J.
A.
A
A
A
A
A
A
A
A
A
J.
J.
J.
O.
N.
J.
J.
J.
O.
A O.
A D.
A J.
A O.
M. A N.
J.
J.
J.
J.
A
A
A
A
J.
J.
J.
J.
Whom.
N.Y.—Cent. RR. of N. J.
Stocks—Last
Dividend.
May 1, 1888
do
do
do
do
•
Balt., at B. A 0. office.
do
do
May 1, 1903
Dec, 29, 1879
Dec. 29, 1879
Sept., 1890
Balt., West. Natl. Bank.
N. Y. A San Francisco.
N. Y., Fisk A Hatch.
Sacram’o State Treas.
N. Y., E. Kelly A Co.
N. Y., Fisk A Hatch.
U. S. Treasury.
N. Y„ Fisk A Hatch.
Feb. 1, 1880
1895 to ’98
July 1, 1884
Jan.
1, 1883
Oct, 1, 1900
1895 to ’98
July 1, 1899
1899
U. S. Treasury.
N. Y., Fisk A Hatch.
New York A London.
N. Y., Fisk A Hatch.
do
do
Jan.
Jan.
1, 1888
1, 1892
July 1, 1890
Oct. 1, 1890
May 1, 1888
July, 1909 ‘
N.Y., Nat. Bk. Republic
do
do
July, 1909
N. Y., Nat. Park Bank. Jan. 1, 1895
Jan. 1, 1910
Columbia, 8. C.
Philadelphia, Penn R.R. Oct. 1, 1901
N.Y.,Del. A Hud.Can.Co. Dec. 15,. 1899
N. Y., Fisk A Hatch.
July 1, 1898
do
do
July 1, 1908
do
do
July 1, 1908
do
do
July 1, 1918
1884
N. Y., Am. Exch. Bk.
"
Jan. 12, 1880
Boston.
July 1,’80A’96
do
either by lease from the
Champaign Havana & West¬
Railway Company or by consolidation of the capital stock, property
and franchises of said last-named company with those of the Wabash
St. Louis A Pacific Railway Company, such transfer to be by lease or
consolidation, as the stockholders of said companies may elect. The
final action of the stockholders of this company to be taken at the
meeting hereby called.” (V. 29, p. 301; V. 30, p. 356.)
Charlotte Columbia d Augusta. — Charlotte, N. C., to Augusta, Ga., 195
miles. Consolidation (July 9, 1869) of the Charlotte A South Carolina
and the Columbia A Augusta, the first opened in 1852 and the latter in
1867. The road has been under the control and management of the
Richmond & Danville since 1878. Gross earnings in 1878-9, $478,491 ;
net earnings, $232,669, against $152,228 in 1877-S.
Interest paid,
$192,142. There are, in addition to the above bonds, $189,500 of old
Columbia A Augusta bonds yet outstanding, due in 1890. Stock issued,
$2,480,000. (V. 27, p. 280; V. 28, p. 96; V. 30, p. 271.)
Chartiers.—Mansfield, Pa., to Washington,Pa.,
28 miles. Chartered as
Valley in 1853 and opened in 1856. Sold under foreclosure, and
reorganized in 1871. Leased for 99 years from January 1, 1872, to the
Pittsburg Cincinnati & St. Louis; the rental is net earnings. Gross
earnings in 1879, $84,660; net income, $24,749.
Interest, $35,000.
Capital stock, $648,302, and funded debt, $500,000; total liabilities,
$1,148,302. (V. 28, p. 377; V. 30, p. 382.)
C.
d Western— Champaign,
i
\
Cherry Valley Sharon
Valley, N. Y., 21 miles.
09
60
54
9914
242378
221a
d Albany.—Cobleskill,
$581,350.
Huntington, W. Va., 428 miles,
of Virginia Cen¬
1, 1873. Exten¬
December, 1873.
Defaulted in 1873 and (October 9, 1875) receiver appointed. Sold
under foreclosure April 2, 1878, for $2,750,000, and reorganized under
present auspices. The annual report for 1878-9 was published in V. 30,
p. 141, and the president, Mr. C. P. Huntington, said in his report :
The plan for the improvement of this property embraces the idea of a
connection by rail to a good harbor at the most available point on tho
waters of Chesapeake Bay, and at the west cud a connection with
the Elizabeth Lexington A Big Sandy Railroad to Louisville, &c.
The vital importance of western connections, and of ocean terminus on
the Lower Chesapeake Bay, I have before referred to. Surveys have
been ordered n>r such a line between Gordousville and the lower
Potomac, between Hanover Junction and the Bay of Piankatank, and
between Richmond and Yorktown on the lower James and York rivers,
with a view of dctermining|the most practicable point for trans-shipment
to large vessels, and for the accommodation of through freights destined
to the cities along the seaboard.” Earnings and expenses were as
Chesapeake & Ohio.—Richmond, Va., to
and branches 7 miles; total, 435 miles. Consolidation
tral and Covington A Ohio, and opened through March
sion to deep water (seven miles) completed
in
‘
follows:
‘
,
1872-73
1S73-74.
Under the
-
Operating
Expenses.
Gross
Earnings.
$1,210,5001,460,190
1,459,189
1^599,512
1,702,533
1,936,360
1,891,542
Years.
00
1879, $108,512 in cash and
100 miles, and from White Heath to Decatur, 31 miles;
Built by the Indianapolis Bloomington A Western
the designation of Western Extension, and for
& N.
& J.
A N.
A J.
A J.
A S.
A O.
A J.
A J.
A J.
A 0.
A J.
A J.
pal, When Due
payable, and by
ern
$3 94Lj
III., to Havana, Ill.,
total, 131 miles.
Railroad Co., under
which separate bonds
were issued to the amount o’ $3,285,000.
This extension was opened in
1873. Default was made October 1, 1874, and a receiver appointed
December 1, 1874.
Sold February 6, 1879, and bought in by bond¬
holders, who organized the existing company and received the property
Sept. 1, 1879. Capital stock, $1,650,000, and funded debt, $1,450,000;
total (representing property), $3,100,000. In March, 1880, it was re¬
ported that a majority of the stock was purchased by the Wabash St.
Lquis A Pacific, and on July 14 tho Wabash stockholders are called
to vote on the following: “An agreement providing for the transfer of
the Champaign Havana A Western RR, to the Wabash St. L. & Pacific
Havanxi
Railway Company,
Av. per acre.
$484,227
410,314
388,824
163,725
275,400
1,203,870
$1,727,078 in notes, and in August they called for sale to them of
$100,000 land bonds, and again in' October for $100,000. (V. 28, p. 60,
121,477,623; V. 29, p. 95,405, 434, 510, 563; V. 30, p. 248, 544.) c,
Champaign
831,000
7
7
7
7
7
7
6 g.
6 g.
6 g6
6
1L>
6
M.
J.
M.
J.
J.
M.
A.
J.
J.
J.
A.
J.
J.
Where
N. Y., to Cherry
Chartered in 1869 and opened in 1870.
$1,200,614 Leased on completion to Albany A Susquehanna. Sold under fore¬
1.038,000 closure in 1875, and purchased by the Delaware A Hudson Canal Com¬
1,250,000 pany for $320,119. Rental $21,000 a year. Capital stock, $281,350,
1,374,000 and funded debt, $300,000. Total stock and bonds (cost of property),
1878.
87 - 81*4
84%- 80^3
17,530,858
918,000
2,153,300
500 Ac.
Central Ohio. —Bellaire, O., to
13,611,631
15,165,082
16,996,216
16,471,144
150,000
100 Ac.
64
....
Prices of St’k.,
1880.
1,250,000
1,000
434
434
1847 and opened in 1854.
more A Ohio, for 20 years,
earnings.
In May, 1880,
Years.
1873..
1874..
1875..
1876..
1877..
1878..
8
300,000
1,000
1878
Cheshire—Stock, preferred
Bonds, not mortgage
January
February
3,285,000
500,000
500,000
500 Ac.
1\
687,000
6,930.000
1,100,000
1,807,500
1,000
1,000
7
7
7
3
6
3
6 g.
7 g.
7 g.
6 g.
6
6 g6
6 g.
6 g.
8
6 g-
350,000
100 Ac.
100 Ac.
500 Ac.
1879
131
131
195
Payable
6,080,000
25,885,000
2,616,000
1,970,000
6,080,000
2,000,000
1,000
1868
1872
1870
1870
Cent.
1,500,000
1,000
1869
When
3,000,000
5,550,000
2,437,950
411,550
2,500,000
54,275,500
25,883,000
1,500,000
1,000
742
Rate per
$1,200,000
11875369.’ 874-569.:
Government lien
Cal. A Oregon, 1st M., gold, guar., (s. f. $100,000)
C. P., mortg. on C. & orBr. (s. f. $100,000)
San Fran. O. & A., 1st M. (s. t. $100,000 begins ’80)
Land grant mortgage bonds
do
Outstanding
Value.
100 Ac.
50
50
1878
stock
1st mort.,
Amount
par
1,000
137
137
137
2180
Central Pacific—Stock
Size, or
$100Ac.
mortgage bonds
Western
discovered in tbese Tables.
Bonds—Prmci
giving immediate notice of any error
Central of New Jersey—(Continued)—
L. & W. B. Coal Co., inc’me bds, rg. (not cum’lat’e)
Am. Dock A Imp.Co. bonds, guar. Cent.of N. J—
Adjustment mortgage
[Vol. XXX.
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS AND BONDS.
RAILROAD
20
«r
$879,700
1,214,340
1,112,321
1,245,036
1,363,225
1,594,739
1,507,332
reorganization the stocks and bonds are as
stock, common,
..
Net
Earnings.
$330,800
245,850
346,868
356,476
339,308
341,621
384,209
follows; Capital
$15,906,138; preferred stock—first, $5,447,803;
second,
$7,038,965; purchase money funding bonds, gold, due 1898, $2,350,000;
Virginia Central Railroad bonds and interest, $918,000; first mortgage
30-year 6 percent gold bonds—A, $2,000,000, B, $15,000,000; second
mortgage 40-year 6 per cent currency bonds, $10,122,500. The “ B ”
bonds take interest m first preferred stock till November, 1881, then
partly stock and partly cash till 1884, and afterwards in cash. The
second mortgage currency bonds till July, 1884, take interest in second
preferred stock, then for two years partly in that stock and partly cash,
and afterwards all cash, if the earnings'are sufficient—“ all interest not
paid in cash to be paid in second preferred stock.” (V. 28, p." 41,172,
502, 525; V. 29, p. 17, 66, 670; V. 30, p. 141, 248.)
Cheshire— South Ashburnham, Mass., to Bellows Falls, Vt., 54 miles
Opened in 1848. Between South Ashburnham and Fitchburg (11 miles)
the Vermont & Massachusetts Railroad is used at a yearly rental of
$51,000. Gross earnings in 1878-79, $487,449; net earnings, $87,754.
Dividend, 1*2 per cent. Capital stock—common, $53,300, and preferred,
$2,100,000; floating debt, ,$25,703, and profit and loss, $33,808 ;
liabilities, $3,043,811. Per contra—Road and equipment, $2,717,535;
materials, $141,110; and cash .and cash, assets, $185,165; total property
and assets, $3,043,811. New 6 per cent bonds for $586,000 authorized
to redeem bonds of 1880. (V. 27, p. 537; V. 30, p. 518.)
total
.
Juke,
Subscribers will confer a
notes
Miles
Date
of
of
Road. Bonds
677
649
cumulative)
....
1873
1863
1862
322
220
220
38
38
150
37
37
150
101
101
£900,000
Income bonds
Joliet & Chicago, 7 per cent, stock
1st mortgage, sinking fund
do
do
St. Louis Jack. & Ch., 1st mortgage
do
do
1st mort. guar, by C. & A...
do
do
2d mort. guar, by C. & A...
do
do
2d mortgage
Louisiana & Missouri, 1st mortgage
do
- do
2d mort.(int. guar. C. & A.)
do
do
guar. pref. stock
162
Bonds for K.C.St.L.& C. hue, s.f. $60,000 after’79
guar. C. & A
Preferred stock do
C. & A. bonds on Miss. Riv. Bridge, 1st mort., gold
1682
Chicago Burlington <£• Quincy—Stock
....
1857
1864
1864
1868
1868
1870
1877
.
35781
1878
1877
....
....
40
70
44
40
j reS18tere«- (
Quincy & Warsaw, 1st mortgage ..
E’ds for St. L. R. I. & C. (sink, fund $50,000) coup.
Quincy Alton & St. Louis, 1st mortgage, coupon..
Burl.&Mo. Riv., 1st .on r’d&400.000ae’slM ) Cp.
do
1st M. on br.,C.B.&Q.stk.(5th ser.) S or
do
Conv. bonds, C.B.&Q.stk.(6th ser.) ) reg.
Chicago <£• Alton— Chicago, Ill., to
270
46
281
40
....
1,000
306,000
2,365,000
564,000
3,000,000
1,750,000
100
Jan.
Feb.
Mar.
Apr.
May
J’ne.
July
Aug
Sept
-Preferred.-Common .1880.
1879.
1880.
1879.
88 - 7914l0978- 99^106 -105*2 120 -117
110^4-10612110 -107*2 122 -122
87 - 78
116 -10614 110 -108
80 - 75
127 -124
115 -108
109 -109
80 - 75
124 -1221s
108 ^-lOS^ HO -108
85 - 77
84 Li- 8II4
114 -114
114 -114
88 *4 84
95 - 86
.......
97 - 88
110*2-110
......
Oct.. 9978- 94*2
llOis-110
115 -112*2
-
N0V.IOOI4- 9714
Dec.100 - 98
-
*
-(V. 28, p.
-
-
Annual report for 1879 in V. 30, p. 246.
have been as follows for seven years past:
Years.
-
Gross
Operating
Earnings.
Expenses.
Bonds—Princi¬
100
13,695,000
1,000
1,000
600,000
741,000
653,000
8 :■> 8,475
399,000
500&C.
546,500
8
1,076,000
8
8
1,000
....
1,000
500 &c.
890,500
1,000
1,000
1,000
720,000
5
8
5
5
7
8
8
2,356,000
840,000
4,621,250
279,000
370,500
50 &c.
500 &c.
500 &c.
1879.
chasing their bonds.
A.
J.
A.
J.
J.
J.
J.
A.
J.
A.
F.
$
343,737
307,681
327,370
335,393
421,937
447,794
536,843
524,055
488,543
602,624
537,326
602,131
583.832
628,811
668,163
601,101
553,014
Whom.
N.Y.,M.K. Jesup,P.& Co.
road operated Jan. 1, 1880, was 1,856 miles. In
February, 1880, the St. Joseph & Des Moines (narrow gauge), 23 miles,
Dividend.
Mar.
Mar.
1, 1880
1, 1880
Lond’n,J.S.Morgan&Co. July 1, 1903
N.Y.,M.K. Jeaup,P.& Co. Jan., 1893
do
do
N. Y. U. S. Trust Co.
N. Y.,M.K. Jesup,P.& Co.
do
do
do
do
do
do
do
do
1883
Jan.,
1919
& O.
New York.
Oct. 1,
Frankfort.
July 1, 1890
N.Y., N. Bk. of Com’rce.
Boston, Co.’8 office.
Boston, Co.'s Office.
N.Y., N. Bk. of Com’rce.
New York and Boston.
Boston.
New York and Boston.
Boston.
Boston, C. B. & Q. RR.
Boston and New York.
do
do
do
' do
Oct.
Jan.
1, 1890
1, 1896
June 1, 1895
July, 1889
July, 1900
Oct., 1890
July, 1890
Oct. 1, 1901
Feb. 1, 1896
Oct. 1, 1893
July 1, 1894
July 1, 1889
Enough of the C. B. & Q. consolidated mortgage
of 1876 for St. Louis Rock
St. Louis Rock
Prices of Stock.
1878.
1877.
Jan.ll878-H638 103V102
Feb. 117*2-109
lOSSg- 99^
101 Sg- 9934
Mar.l09*2- 94
106 -10114
Apr.104 - 96
10578-100
May 102*2- 99
J’nelOl - 95is 108 -104
11478-106*2
J’ly.100 - 97
Aug 104*2- 98*2 112*2-108*4
Sept 10214- 99is 11258-10878
Oct..105 -IOII4 113 -108
Nov. 10338-101 is 11212-110
Dec.IO214-IOI
111 -105*2
,
Island & Chicago
Monthly Earnings.
1879.
1880.
1879.
1S80.
$
$
117*2-111*8 152 -136 1105,098 1200,238
12214-115^ 148 -144*2 982,377 1180,853
11514-11238 149*2-140*2 1071,738 1453,611
115 -1121s 14934-123
1018,755 1260,319
118*2-113*4 125 -113*2 1171,303
116 -11434
1160,968
119 -116
993,823
119*2-11338
-1315,559
1484,316
115ie-113i4
124 -11378
123*4-117*4
134*2-119
-
1709,932
1327,679
1438,167
with an article on the
general situation of the company, in the Chronicle, Y. 30, p. 334. 354
Comparative statistics for four years are as follows:
The last annual
report was published at length,
Miles owned
Miles leased and controlled
1876.
1877.
1878.
1879.
1,297
1,575
1,604
1,760
46
105
97
1,621,
1,709
1,857
$
46
-
'
Total
1,343
operated
Total gross earnings
12,057,795
Total operating expenses. 6,475,252
Net earnings
P.c. of oper.exp.to
5,582,543
earn’gs
12,551,454 14,119,665 14,817,105
6,851,155 7,533,135 7,228,222
5,700,299
54-58
53*70
6,586,530
7,588,883
48-74
53-35
INCOME ACCOUNT.
$
5,582,543
Total income
Disbursements—
Rentals paid
Interest on debt
Taxes
Dividends
.
Carried to sinking fund...
Miscellaneous
Transf’d to renewal fund.
*
$
$
5,700,299
6,586,530
84,263
131,395
1,991,957
418,234
2,749,065
2,108,469
155,695
2,155,972
*603,437
194,082
327,159
2,479,715
241,104
31,442
7,588,883
179,093
223,313
2,110,938
328,844
3,081,985
230,493
1,000,000
1423,085
1,000,000
2,212,827
235,286
381,015
234,445
Balance, surplus
144,942
Including $264,656 taxes ’73 & ’75. t Balance of accounts written off.
general balance at close of
$
Assets—
Dividends Railroad, buildings, &c....50,193,931
on Stock.
Equipment
8,986,754
$1,135,080 Stocks owned, cost
404,553
1,135,080 Bills and acc’ts receivable 1,633,958
1,021,572 Materials, fuel, &c
518,447
985,652 Cash on hand
36,252
926,898 Due from St.L.R.I.&C.RR. 1,985,083
448,262. Trustees B. & M. I’d grant.
862,485
765,776 Trustees C. B. & Q. s. fund
619,171
Quincy.—Chicago, Ill., to Plattsmouth, la., 484
do
do
Stocks—Last
is reserved to take up prior debts. The bonds
Island & Chi; ago Railroad are plain bonds of Chic. Burlington & Quincy,
offset by mortgage of like amount on
road deposited with trustees. Prices of stock and monthly earnings
have been:
Operations, earnings, &c.,
Net
Earnings.
$2,121,286
Payable, and by
& J.
& O.
& J.
& D.
& J.
& J.
& O.
& J.
& 0.
& A.
A & O.
J. & J.
J. & J.
1880.
miles; branches in Illinois, 570 miles, and in Iowa 267 miles; leased
lines in Illinois, 321 miles, and lines operated under contract for joint
use in Iowa, 27 miles; total lines and branches owned, leased and oper¬
ated at close of 1878,1,670 miles. During the year 1879 the Jowa branch¬
es were extended in the aggregate a length of 114*2 miles(10 in Missouri),
The total length of
6 g.
1 *2
6
2
8
7
5
4 g.
7
7
pal,When Due-
July, 1880
J. & J.
July, 1882
A. & O.
April. 1894
A. & O.
April 1,1894
J. & J.
July, 1898
J. & J.
July, 1898
do
do
F. & A.
Aug., 1900
Nov.
do
do
1, 1900
M. & N.
do
do
F. & A.
Feb., 1880
do
do
M. <fe N.
May 1, 1903
do
do
May 2, 1880
q—f:
A. A O. N.Y.,M.K.Jesup,P.*fcCo. Oct. 1, 1912
Q.-M. N. Y., Bk. of Commerce. June 15, 1880
Jan. 1, 1883
do
do
J. & J.
J. & J. N.Y.N.Bk.of Com.&Bost July 1, 1903
Monthly Earnings.
$3,376,255
$5,497,541
2,901,351
2,224,877
5,126,228
2,052,638
2,604,124
4,656,764
2,691,061
2,269,468
4,960,529
2,357,006
2,107,337
4,464,343
2,515,134
2,156,385
4,671,519
3,049,520
2,706,156
5,755,677
274, 298, 400, 428, 624; V. 30, p. 246, 408.)
Chicago Burlington <£
3*2
700,000
52,000,000
2,711,000
1,000
....
7
300,000
1,000
....
'
S.
S.
J.
J.
& O.
&
&
&
&
Q.—J.
8
7
7
7
7
7
1,851,000
262,100
21,1857, as Chicago Alton & St. Louis, and under
1861, the present corporation succeeded to the
property, which was sold under foreclosure in the following year and
transferred to new organization in October, 1862.
Chicago and St.
Louis were connected by the present line in 1864.
The Joliet
& Chicago is leased from January 1, 1864, for the term of its
charter, and forms part of the main lino. Rental, 7 per cent on stock and
8 per cent on bonds. The St. Louis Jacksonville & Chicago is leased in
perpetuity from April 30,1868, at a rental equal to 40 per cent of gross
earnings until the amount reaches $700,000, with a minimum of $240,000
a year. The Louisiana & Missouri River is leased for 1,000 years from Aug.
1,1870. Rental, 35 per cent of gross earnings, but interest guaranteed
on second mortgage bonds and preferred stock as above; the other pre¬
ferred stock is $1,010,000 and common stock $2,272,700.
The Chicago
& Illinois River R. R. wassoldin foreclosure Sept., 1879, and purchased
by this company. The Kansas City St. Louis & Chicago was opened
through May 1, 1879. It was built by the Chicago & Alton Company,
and is leased to said company in perpetuity from November 1,1877. at a
rental of 35 per cent of gross earnings, less taxes and assessments. The
bonds are held by United States Trust Company as security for the C. &
A. bonds of 1878 issued to build this road, and a sinking fund of
$60,000 per annum provided for their redemption. Should the 35 per
cent be more than sufficient to pay bond interest and 7 per cent on
the stock, the excess is to go to the lessees. The Mississippi River Bridge
is leased in perpetuity from December 3,1877, at a rental of $63,000, to
be applied in payment of 7 per cent on $200,000 stock, and 6 per cent on
$700,000 bonds. New common stock (C. & A.) for $1,000,000 issued
May, 1880, see V. 30, p. 408. Prices of stock and monthly earnings
v
188,000
360,000
100
East St. Louis, Ill., 281, and
Prices of Stock.
3*2
1\
1,000
1,000
1,000
1,000
1,000
M.
M.
J.
J.
A.
3
1,500,000
under act of January
act of February 16,
/
Payable
1,096,000
branches, 132 ; total (main line and branches), 413 miles. Leased lines,
Chicago & Illinois River, 24; St. Louis Jacksonville & Chicago, 151;
Louisiana & Missouri River, 101; and Kansas City St. Louis & Chicago,
164; total leased lines, 438 miles. Total lines operated, 851 miles. The
Joliet & Chicago (leased), 37 miles, is included in the main line. Char¬
tered as the Chicago & Mississippi, February 27, 1847 ; reorganized
have been:
When
Cent.
500 &c.
100
1,000
Where
Rate per
6 g.
7
7
1,000
1,000
1872
1875
1869
1870
1870
1870
1876
1876
1863
1869
1870
Amount
Outstanding
$100 $10,065,300
100
2,425,400
4,379,850
1,000
2,363,000
1,000
1858
1873
1879
....
....
1
'
Value.
....
466
825
689
100
96
mortgage” sinking fund, (trust)
or
Par
....
....
Consolidated mortsrage coupon, (for $30,000,000)
Trust mort.onlowu lines,coup.or reg.(s.f. 1*2 p.c.)
Northern Cross R. R. 2d. mortgage, gold
Trust mortgage (Burlington to Peoria)
Plain bonds (coupon or registered)
Bonds of 1875, (sinking fund $13,860 per year)..
Dixon Peoria & Haunibal, 1st m... j
pmmnT,
f
Ottawa, Oswego & Fox Riy., 1st m h f *
1* !
Illinois Graiid^Trnuk, 1st mort....
Size,
....
....
1st
of any error discovered in tbese Tables.
INTEREST OR DIVIDENDS.
explanation of column headings, &c., see
on first page of tables.
Chicago <6 Alton—Common stock
Preferred st’ek (7 t>. c. y’rly not
General mortgage, sterling, for
1st mortgage
21
AND BONDS.
great favor by giving immediate notice
DESCRIPTION.
For
STOCKS
RAILROAD
1880.]
....
49,369
Miscellaneous items
each fiscal year.
$
$
$
53,384,339 54,840,462 58,112,329
9,446,499 10,305,749 11,131,683
52,251
1,711,929
888,655
79,011
1,756,434 1,244,276
524,796
172,491
753,589
529,661
1,062,650 1,348,559 1,695,842
876,019 1,067,889 1,273,415
155,725
50,362
60,434
65,270,003 67,557,078 70,066,742 74,801,229
$
$
$
$
Total...
Liabilities—
Stock, common
27,227,811 27,377,610 27,822,610
370,432
267,306
134,206
Bonds
22,986,325 26,122,826 27.058,725
Bills payable
81,205
2,043,575
3,800
Sinking funds
2,072,952 2,360,014 2,651,825
Contingent liabilities
4,515,000 4,482,000 3,819,000
Land grant sinking fund.. 1,114,640 1,437,722 1,749,229
Income account
3,991,384 3,946,532 4,181,818
1,000,000
Renewal fund
Miscellaneous
796,302 1,413,760 1,462,285
Profit and loss
151,582
145,508
105,839
Stock, B. &M...
30,883,600
120,856
27,270.225
29,000
2,963,086
3.233,000
2,164,015
Subsequently, in 1880, the Burlington <& Missouri in
leased lines, and the Kan¬
sas City St. Joseph & Council Bluffs, and branches was purchased,
4,416,263
2,000,000
254 miles. See statements of those roads, prior to consolidation, in
Supplement of April 24, 1880; also in Chronicle, V. 30, p, 519.
1,644,582
The Chicago Burlington & Quincy was a consolidation (January
76,602
1, 1873) of the Chicago Burlington & Quincy in Illinois and
the Burlington & Missouri River in Iowa. The C. B. & Q. in Illinois
Total liabilities
65,270,003 67,557,078 70,066,742 74,801,229
was a consolidation (July 9,1856) of the Chicago <fc Aurora and the Cent¬
ral Military Tract. At a later date the company purchased the Northern The land grant brought into the consolidation was 388,817 acres, all of
Cross and the Peoria & Oquawka railroads.
The Q. A. & St. L. was which, except 39,932 acres, had been sold by the close of 1878. The
The grant
leased in perpetuity from Oct. 1,1876, at a rental or $12,000 a year. assets at tne close of, 1878 amounted to $4,909,431.
The St. L. R. I. & C. was leased from Oct. 1,1876 ,at a rental of $175,000 was made to the Burlington & Missouri River Railroad. <V. 28, p. 223,
274; V. 29, p. 67, 119, 356, 658; Y. 30, p. 16,116, 221, 248, 334, 354,
a year.
The Chicago Burlington & Quincy on its leases of the numerous branch 519, 533, 566.)
The Burlington & Missouri Riy. in Nebraskar—Plattsmouth to Kearney
roads usually gave them a traffic guarantee of 40 or 50 per cent for pur¬
was
purchased.
Nebraska
was
,
absorbed, 470 miles, including
.....
RAILROAD
T1
Subscribers will confer
a
Miles Date
of
of
Road. Bonds
explanation of column headings, Ac., see notes
on first page of tables.
*Chicago Burlington <£- Quincy—(Continued)—
Burl. A Mo. in Neb., bonds, convert, till Jan., 1882
do
consol.AI.for $14,000,000, s.f. $30,000
do
Omaha A S. W., 1st mortgage, guar.,
19‘i
49
Republican Valley RR.t stock, guar..
Nebraska RR., consol, mort., guar
Council Bluffs & St Joseph, 1st mortgage
Kansas City, St, Jo. & C. Bl., mortgage
do
do
do
do
income
BONDS.
fVoL. xxx.
^onds.
reg...
2d mortgage (Prairie du Chien)
Milwaukee A Western
St. P.& C.lst M.(Riv.Div.) $ A£(conv.)..
■1st mortgage, Hastings A Dakota
133
52
274
•
mortgage, Chicago Sc Mil. line
Bonds for Davenport A Northwest RR..
1st
235
^3
iico
.
-t
1873
1878
1872
iI
o c
O *
13*6
75
85
160
1877
1866
1877
1877
1872
1867
1877
1877
1871
.
1860
1863
1875
1863
1864
1867
1864
1869
1878
1868
1868
1861
1872
1872
1873
1879
Par
Amount
Outstanding
Value.
$500Ac.
$600,000
600 &c.
7,605,000
1,034,000
853,000
1,836,000
1,000
1,000
1,000
500,000
100 etc.
100
4,495,522
1,000
2,541,350
500 Ac.
106
Ac.
100 Ac.
100
1,000
100
100 Ac.
500 Ac.
100
100
1,000
1,000
2.488,174
1,000,000
1,095,000
2,847,000
714,329
6,600,000
1,750,000
3,916,200
568,200
211,500
15,404,261
12,279,483
8,433,000
6,600,000
1,000
496,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
3,810,000
183,000
577,000
1,6*00
3,500,000
3,674,000
1,315,000
219,000
4,000,000
160,000
1,000
2,500,000
....
1,785,000
Railroad,
total
1880,
Dec. 31, 1879: Total, 2,385 sales of 369,431 acres, for $1,587,511;
average per acre, $4 30.
Lands on hand—South Platte, 283,532 acres;
North Platte, 508,499; due from United States,- 8,337.
discovered in these Tables.
INTEREST OR DIVIDENDS.
Size, or
....
67
Chicago d Canada Southern—1st mort., gold
73
*Chicago Cincinnati d Louisville—1st mort
59
Chicago Detroit (£• Canada Grand Junction—1st M .
132
Chic. d East.Ill—lHt M., coup. is.f.$20,000 after’85)
132
2d mortgage income
Chicago d Grand Trunk—Stock
*80
Chicago d Iowa—1st mort., coup., may be reg
82
Chicago loica d Nebraska—Stock
82
2d mortgage (now 1st)
82
3d
do
(now 2d)
Chicago Milwaukee d tit. Paul—Com. stock—.... 1,729
Preferred st’ek (7 p. c. y’rly, not cumulative)
1,729
Consolidated mortgage (for $35,000,000)
370
1st mortgage (Lacrosse Div.)
^
370
2d mortgage
220
1st mortgage (Iowa & Minnesota)
49
1st mortgage (Minnesota Central)
1st mortgage (Iowa A Dakota)
300
1st mort., Ia. & Dak. Ext.($15,000 p. m.)
)■
235
1st mortgage (Prairie du Chieu)
was
AND
great favor by giving immediate notice of any error
DESCRIPTION.
For
STOCKS
The compauy
Chicago Burlington & Quincy,
Q. for five of B. A M., with a 20 per cent stock
consolidated (March, 1880) with the
six shares of C. B. Sc
dividend. (V. 28, p. 120,
276, 624; V. 30, p. 90, 116, 518, 544, 600.)
Chicago d Canada Southern— Grosse Isle, Mich., to Fayette, O., 67
miles. Has been operated by the Canada Southern for two years, and no
^separate accounts are rendered. On Nov. 1, 1879, it was transferred to
the Lake Shore & Michigan Southern. The price given for it was re¬
ported to be $750,000. It had a capital stock amounting to $2,667,400
-and a bonded debt of $2,546,000, and owed upwards of $1,000,000 over¬
due coupons. Original cost, $5,176,557. It is a part of a projected line
between Chicago and Detroit River, but failed in 1873. It is said that
the road will be extended to a connection with the Lake Shore &
-Michigan Southern Railroad.
Chicago Cincinnati d Louisville.—Peru, Ind., to La Porte, Iiul., 71
miles. Opened in 1858. It is a reorganization of the Cincinnati Peru
-A Chicago, and forms a part of the line from Indianapolis to Michigan
-City. No information is furnished by the officers.
Chicago Detroit d Canada Grand Junction.— Port Huron, Mich., to
Detroit, Mich., 59 miles. Opened in 1859. Leased to Grand Trunk of
•'Canada. Operations, expenses, Ac., included in lessees’ returns. Rentalinterest, quarterly, $65,700, and dividends, semi-annually, each 2 per
•cent, $43,800. Capital stock, $1,095,000, and funded debt, $1,095,000;
total liabilities (representing cost of property), $2,190,000. The road is
the absolute property of the lessees, but a separate organization is main¬
tained in Michigan.
Chicago d Eastern Illinois.—Dolton, Ill., to Danville, Ill., 107% miles,
Ill., to Coal Creek, Ind., 24 miles; total, 131% miles
and Bismark,
Dolton to Chicago (20% miles) is made over the Pittsburg Cincinnati A
St. Louis Railway. Chartered as Chicago Danville & Vincennes in 1865
and opened in 1872 and 1873. Sold under foreclosure February 7,1877,
existing style September 1,1877. Gross earn¬
ings in 1879, $893,601; net earnings, $354,507.
Payments—taxes,
and reorganized under
Rate per
Cent.
When
Where
Payable
?g8*
&
&
A
F. A
3*2
3%
7
7
7
7
7
7
7
8
7*3
7
?g7
5
Jan.
A.
J.
J.
A.
J.
J.
J.
J.
F.
F.
J.
J.
J.
J.
&
&
&
&
&
&
&
&
&
&
J, New York and Boston,
J, Boston, by Treasurer.
J. Boston, Merchants’ B’k,
A. New York, Park Bank
New York, Office.
*o.
do
do
j.
do
do
j.
do
do
o.
do
do
j.
do
do
j.
do
do
j.
do
do
j.
do
do
A.
do
do
do
A.
do
do
do
London and New York,
New York, Office,
do
do
do
do
1, 1883
July 1, 1918
do
do
do
do
June
Feb.
Oct.
Jan.
Jan.
Jan.
A. & O.
J. & J.
Boston, at Office,
J. A J.
do
do
A. & O.
do
do
A. & O. N. Y., Union Trust Co.
J. & J. N. Y., Farm. L. & T. Co.
J. & D
London, England.
J. & D. New York, 4th Nat. Bk,
Dec.
do
do
J.
J.
J.
5
7
7
Dividend.
Boston, Office,
Q.-F.
0
6
7
pal,When Due.
Payable, and by Stocks—Last
Whom.
J. A J.
J. & J.
J. A D.
8
6
8
2
7
7
7
6
Bonds—Prinei
1, 1896
2.
1880
1, 1896
1, 1880
1, 1907
1, 1907
April 1, 1902
Jan., 1887
June, 1907
Dec., 1907
July 1, 1901
July 1, 1880
July 1, 1888
Aug. 15, 1892
April 15, 1880
April 15, 1880
July 1, 1905
1893
1884
1897
1894
1899
July 1, 1908
1898
1898
1891
*
Jan., 1902
1902
1903
1919
miles; North McGregor to St. Paul, 212 miles; Conover to Decorah, 9 miles; Mendota to Minneapolis, 9 miles; Calmar to Marion
Junction, 287 miles; Austin to Mason City, 39 miles; Hastings
to Ortonville, 202 miles ; Davenport to Fayette, 128 miles ; Watertown to Madison, 37 miles; Milwaukee to Portage, 98 miles; Mad¬
ison to Portage, 39 miles, Sparta to Melvina, 12 miles; Lisbon to Necedah,
13 miles; Wabasha to Zumbrota, 59 miles; Horicon to Berlin and Winneconne, 57 miles; Ripon to Oshkosh,-20 miles; Sabula to Cedar Rapids,
92 miles; Paraltato Farley, 44 miles; Racine to Rock Island, 197 miles;
Eagle to Elkhom, 17 miles, and Eldridge to Maquoketa. 32 miles. Since
February, 1880, the company has acquired the Chicago & Pacific,
88 miles; the Southern Minnesota and extension, 446 miles; the
Hastings & Dakota, 128 miles; the Wisconsin VaHey, 69 miles; the
Chicago Clinton Dubuque & Minnesota (under lease), 300 miles. See
Supplement of April 24, 1880, for condition of bonds of
these
roads before the merging. The Milwaukee <fc St. Paul RR. Company
was organized Mav 5, 1863, and embraced a number of other com¬
panies, including the Milwaukee & Mississippi, the Prairie du Chien,
the Lacrosse A Milwaukee, and others.
The Milwaukee & St. Paul
afterward purchased the St. Paul A Chicago Road and others, and
built the line from Milwaukee to Chicago, and on February 11,
1874, the company took its present name.
In February, 1880, the
Hastings A Djlkota RR. was also reported as purchased, and in March
and April the Chicago & Pacific purchased and the Sioux City & Dakota
leased. The Western Union Railroad was leased in 1879 for 999 years,
and the bonds were to be retired by the issue of the Chicago Milwaukee &
St. Paul bonds secured by mortgage on that road.
Of the consolidated
mortgage bonds of 1875, enough are reserved to take up the prior bonds,
and any of the holders of those bonds (except the Iowa <fc Dakota
division) may exchange them for the consol, bonds. The latter had a
sinking fund of 1 per cent per annum, but holders may have their bonds
stamped and discharged from the operation of the sinking fund.
The
of this
company secured on that line (see V. 30, p. 433), and the condition of
those bonds before consolidation may be seen in the Supplement of
April 24, 1880. Prices of stock and monthly earnings of the Chicago
Southern Minnesota bonds
were
all to be exchanged for the
Yxmds
Milwaukee A St. Paul have been;
Prices of Stock.
Monthly Earnings.
-Common.-Preferred.1880.
1879.
1879.
1880.
1879.
18S0.
$
Jan. 48 *U- 343s 80%- 75% 85%- 7434 103%-100% 591,175 763,000
Feb. 42%- 3734 81%- 76% 85%- 793* 104%-102% 476,666 739,000
Mar. 41%- 35% 85%- 79
83%- 79%107%-103% 632,898 901,000
Apr. 43%- 3934 83 %- 753q 83%- 7934 10538-102
678,439 871,000
857,323 1135,000
May 51V 40% 78 - 66% 91 - 81% 10234- 99
J’ne. 54 %- 50%
93%- 90
798,658
/
$10,744; leases, $63,852; interest oil bonds, $166,110; rent of real
estate, $7,359; and interest and exchange, $13,198; total, $261,264.
Capital stock, January 1, 1880, $399,154; mort¬
Surplus $93,242.
gage, $3,000,000; income bonds, $714,329; bills payable, &c., $80,816;
96%- 9034
64:%- 50%
773,172
accounts, $105,387; .and income balance, $131,020; total liabilities, July 70
733,756
61%
97%- 923s
$4,430,708.
Per contra—Cost of road and equipment, $4,143,684; Aug. 71
6434
101%- 963s
1018,806
mortgage bonds on hand, $153,000, and sundry accounts and balances, Sept
Oct.. 75%- 673s
99%- 97
1290,739
$134,023; total property, &c., $4,430,708. A new line from Dolton into Nov. 82%- 69
10238- 97%
1100,244
Chicago is being built by the Chicago A Western Indiana Railroad Co., Dec. 76
68%
100%- 97
1060,957
.and has been leased to this company. The company have also taken a
perpetual lease of the Evansville Terre Haute A Chicago Railroad, at 6 An abstract of the last annual report was published in the Chronicle, V.
per cent on bonds, $75,000 per year.
(V. 28, p. 113, 327; V. 29, p. 146, 30, p. 406. The following table shows the operations earnings, capital
account, &c., for four years past:
488; V. 30, p.91,221.)
1876.
1877.
1878.
1879.
Chicago d Grand Trunk—This is the consolidation of roads between Miles owned
w.
1,400
1,412
2,231
1,772
Detroit and Chicago formed in April, 1880, under the control of the
OPERATIONS AND FISCAL RESULTS.
-
-
-
-
........
-
Grand Trunk of Canada.
It includes the former Port Huron A Lake
(V. 30, p. 322,
Michigan and the Peninsula roads, sold in foreclosure.
384.
Chicago d- Iowa.- Aurora, Ill., to Foreston, Ill., 80 miles, and Chicago
Di^kf^d & Northern Railroad (leased), 27; total operated, 107 miles.
C larfcered in 1869 and opened in 1872.
In hands of
a
receiver for two
years and arhalf, and sold March 9,1878, in foreclosure of second mort¬
gage of $1,150,000, and a resale ordered.
Compromise effected, and
Passenger mileage... 59,845,665 55,925,449 65,498,189
Rate per pass. p. mile
3*20 cts.
3*09 cts.
3*21 cts.
Freight (tons) niil’ge.264,808,027 271,598,133 321,818,902
2 04 cts.
2*08 cts.
Av. rate p. ton p. mile
1-80 cts.
$
$
$
Total gross earn’gs.
8,114,894
8,451,767
8,054,171
4,792,313
4,540,433
Oper. exp. (incl.tax’s) 4,953,324
78,119,592
s 2*93 cts.
401,595,734
1-72 cts.
$
10,012,819
5,473,794
jpon of July, 1878, paid July, 1879. Net earnings under receiver (29
3,100,847
3,574,461
3,659,454
4,539,025
mrnths), $781,913—$323,950 per annum. Balance after all payments, Net earnings
61*50
56 00
56*70
54*70
$63,004. Interest liability, $140,000 a year. Capital stock, $1,328,000, P.c. of op.ex. to ear’gs
INCOME ACCOUNT.
and funded debt, $1,750,000; total stock and bonds, $3,078,000. Cost
1879.
Receipts—
1877.
1878.
of road and equipment, $3,158,000. This road is used by the Chicago
Balance January 1
$1,433,645 $2,359,306 $2,520,074
Burlington & Quincy to connect with the Illinois Central. (V. 30, p. 168.) Net
earnings
3,574,461
3,659,454
4,539,024
Chicago Iowa d Nebraska.—Clinton, la., to Cedar Rapids, Ia. (all steel), Other receipts...!
13,430
74,517
€2 miles. Chartered in 1853 and opened in 1858. Bridge over Missis¬
sippi opened 1856. Leased to Galena & Chicago Union at 37*2 per cent
Total income
$5,008,106 $6,032,190 $7,133,615
of gross earnings, and now operated by Chicago A Northwestern; the
Disbursements—
maximum rental by subsequent agreement not to exceed $500,000 a
Interest on debt
$2,162,159 $2,135,730 $2,287,407
year. Interest liability, $47,383, and dividends (10 per cent), $391,620: Miscellaneous
4,034
32,040
total fixed charges, $439,003 a year. Capital stock, $3,916,200; funded Dividends on
preferred stock*....
429,607
1,289,346
859,564
debt, $676,000; interest and dividend balances, $9,592, and surplus Dividends on common stock
|
385,10ft
-account, $341,894; total, $4,943,686. Per contra—Construction, $4,662,53,000
55,000
Sinking fund
70,000
123, and cash and cash assets, $281,563; total, $4,943,686. Tne first
Balance, surplus
!
2,359,306
3,531,538
2,520,074
mortgage has been satisfied and canceled as of record.
Total
Chicago Milioaukee d St. Paul—In February, 1880, the following was
$5,008,106 $6,032,190 $7,133,615
officially reported as the mileage owned and operated by this company,
*
Part of these dividends on preferred stock were stated as payable
making a total of 2,251 miles in all: Chicago to Milwaukee, 85 miles;
Milwaukee to La Crosse, 196 miles; La Crosse to St. Paul, 130 miles; out of the earnings of the previous year as follows; In 1877. $429,607»
Milwaukee to Prairie du Chien, 194 miles; Milton to Monroe, 43 in 1878, $859,564; and in 1879, $429,781.
o
.
DESCRIPTION.
do
Bonds, pref. (sink’g fund), 1st mort., Chic, to Osh.
Interest bonds, funded coup., 2d in., Chic, to Osh.
1st mort., general, 3d mort., Chic, to Oshkosh—
Appleton exten., 1st mort. on 23 miles and land..
Green Bay exten., 1st mort. on 26 miles and land
1st mort., Galena & Chicago Un. RR. extended...
Mississippi River Bridge b’ds, lien on net earnings
1st mort. (Peninsular RR.) on roads and lands...
1st mortgage (Beloit & Madison Railroad)
Consol, siuk’g f’d Mortg
Madison extension, 1st mort., sinking fund,
gold.
Chicago & Milwaukee, 1st mortgage, 2d lieu
Par
Value.
Outstanding
212
88
1879
$1,000
$4,000,000
346
128
300
223
107
107
1880
1880
1,000
1,000
1,000
(?)
7,000,000
2,560,000
5,000,000
400,000
1880
1879
26
1862
248
1853
.
1859
....
....
....
74
46
779
126
85
25
120
1863
1863
1865
1871
•
•
•
•
107
500
100
100
100 «fec.
100 Ac.
100 &c.
500 Ac.
500 Ac.
....
1862
1859
156
....
1880
1879
193
193
193
23
Menominee River, 1st mort., guar
Menominee extension, 1st mortgage, gold
Gen. cons mort.. gold, coup, orreg. ($£8,000,000) 1,058
137
Winona & St. Peter, 1st mort., guar by Cliic.&NW.
137
do
2d mort.,
do
do
175
do
1st M. exten, gld, land gr., s. f.
75
Iowa Midland, 1st mort., guar, by Chic. & N. W..
62
Northwestern Union, 1st mortgage, gold
24
Minnesota Valley, 1st mortgage
1
24
Rochester & No. Minnesota, 1st mortgage
15
Plain View Railroad, 1st mortgage
Sinking fund bonds of 1879 ($15,000 per mile)...
Chicaoo d- Paducah—1st mortgage
1,000
1,000
1,000
1,000
1,000
500 &c.
1,000
....
1876
1871
1872
1870-1
1871-1
1871
1870
1872
1878
1878
1878
1879
1873
....
500 Ac.
500 Ac.
1,000
1,000
100 Ac.
1,000
500 Ac.
„
^
1877.
$
$
Assets—
Railroad,equipm’t,*ftc 56,277,227 56,886,833
Stocks owned, cost...
1,515,750
Bonds owned, cost...
350,471
Bills&acc’ts rec’vable
Materials, fuel, &c. ..
Cash on hand
Daven. & N’west RR
Miscellaneous items..
Total
’’Mi’,!®?}
161,653
1878.
$
1,103,965
14J)88j807
7
7
7
7
7
7
7 g.
4,313,000
1,350,000
3,500,000
150,000
200,000
The gross
59,001,257
63,399,448
2,469.096
901,760
199,186
1,181,047
305,165
264,565
318,660
59,757,192
60,562,205
63,083,910
74,066,074
A.
N.
A.
A.
A.
A.
J.
S.
J.
«
8
7 g.
7
7
7
6
7
A.
M.
M.
A.
J.
A
A
&
&
A
&
&
&
&
&
A
&
A
&
&
do
do
do
do
do
do
do
do
do
do
do
do
Net receipts
i
12,279,483
32,088,500
131,812
2,520,074
41,349,500
291,208
3,531,538
59,757,192
60,562,205
Total liabilities...
$3,210,51R
Net income
711,365
498,719
63,083,910 74,066,074
—(V. 28, p. 97,120, 148,301,378, 398, 428, 453, 502, 503, 543,580,
624; V. 29, p. 95, 170,197, 251, 328. 356, 433, 511,602, 631, 657; V. 30,
p. 116, 144, 191, 322, 356, 384, 394, 406, 408, 433, 518, 544, 624.)
Chicago cC Northwestern.—In February", 1880, the total miles operated
2,389. Acquired since, the Chicago & Tomah, narrow-gauge, 45
miles. At the end of the fiscal year, May 31, 1879, the mileage was
made up in the annual report as follows: Wisconsin Division, 320 miles;
Galena Division, 313 miles; Iowa Division, 425 miles; Madison Division
and Extension, 227 miles; Peninsula Division, 247 miles; Milwaukee
Division, 85 miles; total Chicago & Northwestern Railway, 1,617
miles. Proprietary roads: Winona & St. Peter Railroad and branches,
406 miles; Iowa Midland Railway, 69 miles; Northwestern Union Rail¬
way, 63 miles; total proprietary roads, 538 miles. Total Mileage, May
31, 1879, 2,155 miles. The Chicago St Paul & Fond-du-Lac Railroad,
which was a consolidation of several roads, was sold in foreclosure June
2d, 1859, and the Chicago & Northwestern Railway was organized as
its successor, with a mileage then of 193 miles, not all complete. In
1864 the company absorbed the Dixon Rockford & Kenosha, the Galena
& Chicago Umon and the Peninsula Railroad of Michigan. In 1878 the
Lacrosse Trempeleau & Prescott Railroad was also consolidated. The
progress of the company in mileage, traffic, earnings, &c., is best shown
in the comparative tables below. All the bonds prior to the consolidated
mortgage sinking fund bonds may be replaced by the latter issue as they
are retired and canceled.
Quarterly dividends were commenced on the
preferred stock in February, 1879. The sinking fund bonds of 1879 are
secured by a deposit of mortgage bonds, on the new roads acquired,
at the rate of $15,000 per mile, and the deed under which these
are issued, as published in V. 29, p. 277, sets forth that this company issues
its sinking fund bonds, all of w hich bonds are to run fifty years from
the 1st day of October, 1879, and to bear interest not exceeding 6 per
cent per annum, and to be issued in amounts not exceeding $15,000 per
mile of railroad for each and every mile of additional railroad, as the
$4,370,820
Less for operating expenses,
shall be actually constructed or acquired; $2,400,000 of which
are to be be issued for the purpose of enabling it to execute its several
contracts with the several railway companies
in
mentioned
the deed,
being at the rate of $15,000 per mile of the railroads to be so added to
its general system; and the residue of said $15,000,000 of bonds may be
issued from time to time, as said first party shall determine, only for
railroads to be built, or in other manner acquired forthe sole use and
benefit of said first party, and not to exceed in amount $15,000 per mile
taxes, interest and sinking fund
2,083,201
$2,287,627
The net sum of $-1,342,772 remained to the credit of income on the 31st
of May, 1879, after deducting the dividends cm common and preferred
Combined net profits
stocks declared June 3, 1879.
The company
has
a
land grant and the* summary of the Commissioners*
report showed that in 1878-9 73,386 acres were disposed of for $269,860,.
an average of $3 67 per acre.
The lands on hand May 31, 1879, and the
general condition of the department are shown in the following:
Lands not
Remaining Total of out-
Deeded
were
same
1,160,315-
.
12,279,483 12,279,483
175,065
$6,837,823
83,120— 3,627,310
12,274,483
484,715
$13,420,605
21,012
....
Sinking funds
Stock, preferred
128,985
Oct.
Deduct iut. on bonds and prem. on gold coupons.$2,318,458
Rent of Chicago Iowa & Nebraska Railroad
495,104
Rent of Cedar Rapids A Mo. River Railroad
706,567
Rent of Maple River Railroad...*
24,060
15,404,26L Proprietary roads—Gross earnings
364,556
Sept.
Sept.
1916
1900
1, 1917
1, 190&
1, 1908
1. 1908
1, 1920
1, 1903
received, balance of interest and exchange
$
81,881
June
Oct.
1911
1898
1900
1911
1902
lSST
1907
$6,816,811
Add amount
15,404.261
447,501
April 1,
July 1,
July 1,
June 1,
Dec. 1,
Jan. 1,
Nov. 1,
Dec. 1,
Oct. 1,
313,868— 6,603,794
$
Miscellaneous
1, 1915
Feb.
(46»'<100 percent). $6,289,925
15,404,261
Unpaid pay-rolls, &c.
1884
1.
Sept. 1, 1898
Jan., 1888
earnings of the Chicago & Northwestern Railway
$
29,954,500
71,114
2,359,306
Jan.
and leased roads, exclusive of proprietary lines, 'were
The operating expenses were
Taxes
15,399,261
30,010.500
109.921
1,433,645
A tig. 1, 1885
Aug. 1, 1885
Aug. 1, 1885
Feb. 1, 1882
July
Liabilities—
Bonded debt
July 1, 1920
Feb. 1, 1884
July 1, 1920
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
O.
J.
J.
D.
D.
J.
N.
D.
O.
S.
O.
S.
S.
O.
J.
1, 1910
1, 1910
Jan.
Jim.
York, Co.’s Office. June 29, 1880
do
do
June 29, 1880=
do
do
Aug. 1, 1885
do
Nov. 1, 1883
do
do
Stock, common
All other dues & acc’ts
Income account
$
A
A
&
&
A
A
&
A
A
Q.-F.
A.
J.
J.
J.
J.
J.
M.
,T.
A.
M.
7
7
‘7 g.
7 g.
7
7
7 g.
400,000
A D. New
Q.-M.
7
2,700,000
12,343,000
2,750,000
1,650,000
2,961,000
J. & J. N.Y., Mil. A St. Paul RR.
do
do
J. & J.
do
do
J. A J.
do
F. & A.
do
J. & J.
F.
M.
F.
F.
F.
F.
J.
M.
J.
July 1, 1900
& J. N.Y., Mil. & St.Paul RR.
6
7
6
7
6
7
3
J.
Stocks—Last
Dividend.
Payable, and by
Whom.
J.
7
7
7
3,150,000
1,700,000
5,400,000
1879.
$
Bonds—Princi¬
pal/When Due.
6
1%
21,525,602
972,200
676,400
3,440.400
116,000
180,000
1,638,000
158,000
272,000
247,000
5,198,000
1.000
185,610
133,127
976,160
244,721
1,650.000
1,000
7,133,028
483,604
385,971
801,694
1,750,000
112,329
162,098
Rate per When Where
Cent.
Payable
100,000
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
1876.
23
INTEREST OR DIVIDENDS.
Amount
of
2,154
2,154
Chicago <£ Northwestern—Common stock
Preferred st’ek (7 p. c. y’rly, not cumulative)
Size, or
Bonds
explanation of column headings, &c., see notes
Road.
on tir8t page of tables.
Prior mort.
Date
Miles
of
Chicago Milwaukee <& St. Paul—(Continued)—
1st mort. on S. W. Div. Western Union RR
1st mort. on Chic. & Pac. Div. ($3,000,000)..
1st mort. on So. Minnesota Div. ($9,000,000)
1st mort. on Hastings & Dakota Div.
1st mort. on Chic. Clinton Dubuque & Minn
1st old mort.
do
do
1st mort. on Wisconsin Valley RR
BONDS.
AND
giving immediate notice of any error discovered in tbcse Tables,
Subscribers will confer a great favor by
For
STOCKS
RAILROAD
June, 1880.]
Name of
dining the unconveyed,
On hand
grant.
May 31,’78.
year.
Acres.
Acres.
Minn’ta .1,151,312-38
Mich’n.
613,998-30
Menomi¬
nee Riv.
94,216-18
Wiscon.
358,192-06
.
.
standing
May 31,1879. contracts,
Acres.
Acres.
deeded
or
contracted
to lie sold.
Acres.
8.752-92 1,142,559-46 107,501-58 1,035,057-8^
11,827 62
602,170*68 21,248 38
580,922*39
93,736-18
354,529*62
48000
3,662*44
416 70
93,736-18
354,112*92:
2,217,718-92 24,722 98 2,192,995 94 129,166-66 2,063,829-28
Total
The following table will show the total miles operated (including pro¬
prietary roads) the gross earnings, net earnings, surplus above annual
charges and dividends paid, in each fiscal year since 1871-2:
Surplus
Dividend®
paid.
rentals, Ac. pref. corn..
over
Gross *
1,215
Earnings.
$11,402,161
1,706
13,775,555
1,923
15,631,936
13,786,302
14,013,732
13,033,102
14,751,062
14,5S0,921
Miles.
Years.
1871-72..
1872-73. .,.
1873-74.
1874-75.
1875-76..
1876-77
1877-78..
1878-79..
1879-80.,
...
...
...
,..
. ...
...
...
1,990
1,992
1,993
2,037
2,129
For the half-year
as follows:
interest,
Net
Revenue.
$4,592,136
4,848,475
5,432,194
5,005,036
5,739,442
$2,618,325
1,868,628
1,355,082
5,507,001
7,130,117
518,267
1,179,719
1,078,227
2,464,488
6,873,272
2,287,627
earnings
....
7
3V
....
••••
....
m
m
mm.
....
.
.
.
2%
7
7
.
....
3
2
17,268,448
ending November 30,1879, the income account waft
1879.
Gross
7
n
Operating expenses and taxes
,
$9,205,232
4,228,418
1878.
$7,932,838
3,892,638
acquired and ready for operation. The prices of
$4,040,204
Net earnings
$4,976,813
stock and earnings monthly have been as follows:
Deduct interest on bonds, sinking funds and
Prices of Stock.
•> Monthly Earnings
2,425,794
rent leased roads
2,524,889
Common.
\ /
Preferred.
>
1879.
1880.
$1,614,419
Net profits six months
$2,451,924
1879.
$
$
1880.
1879.
1880.
Jan. 653s- 49% 92V 89
88*2- 76% 107%-104% 1008,321 1154,632 —(V. 27, p, 140, 170, 372, 426, 603, 628; V. 29, p. 119, 168,197, 225,.
Feb. 6414- 56% 933*- 88% 91%- 83% 107V104
889,623 1131,683 277, 357, 408, 608,656; V. 30, p. 433, 493, 600, 648.)
Mar. 6034- 51% 97 - 91% 89 - 83% 110%-106% 1107,042 1395,000
Apr. 63V 573* 97 -92% 923s- 87% 110%-107% 1128,894 1276,552
Chicago & Paducah.—Streator, Ill., to Effingham, HI., 156 miles, and
May 645s- 583s 93%- 87% 95V 893s 10930-105% 1433,365 1794,700 Shumway to Altamont, 8% miles; total, 164% miles. Organized March
J’ne. 677q- 62*4
98V 94%
1393,087
22,1872, and opened in 1874. Defaulted, and receiver appointed May
99V 94%
1314,231
July 74%- 633s
28, 1877.
Final decree in foreclosure January 21, 1880, and road
sold May 8, 1880. It was purchased for the Wabash, and to be con¬
1326,957
Aug. 80%- 72*2
99V 96
nected with the Strawn & Chicago Railroad (95 miles), which was com¬
Sept 84 - 75%
102 - 97%
1716,409
Oct.. 90V 82%
104%r 99%
1896,073
pleted November 15,1879, and in the mean time it was leased to Wabash
Nov. 94%- 84
under order of the court. Gross earnings in 1877-78, $266,623; net
103 -101%
1558,476
Dec. 923s- 85%
1325,895
106V102
earnings, $27,967. Capital stock, $4,099,700, and funded debt, $2,961.
(V. 28, p. 617; V..
An abstract of the last annual report was published in the Chronicle, 000. Debt and interest fixed by court at $3,710,509.
29, p. 328; Y. 30, p. 91,143, 384, 518.)
V. 29, p. 169, showing the following income account:
of road
so
built
or
/
,
RAILROAD
24
Subscribers will confer a great favor
by giving immediate notice of any error
70
Chicago Pekin <& Southwestern—1st mortgage
64
mortgage
Chicago Rock Islandd: Pac.—St’ck (for $50,000,000) 1,348
636
1st mortgage (tor $12,500,000; coup, or reg
271
Cliic.& Southw., 1st M.g. (g’d in cur. by C.R.I.&P.)
206
Chic. St. Louis d AT; 0.—1st M. (N. O. J. 6c G. N.)
224
2d mortgage, (N. O. J. 6c G. N.)
185
1st mortgage, (Miss. Central)
2d mortgage,
do
($500,000 disputed) 185
567
Chic. St. Louis & N. O. 1st mort. (for $13,000,000)
567
do
do
2d mort. (for $8,000,000)..
2d
1874-6590
discovered in these Tables.
Bonds—Princi¬
pal,When Due.
Rate per When Where Payable, and by Stocks—Last
Outstanding
Whom.
Ceut.
Dividend.
Payable
Date
Miles
Size, or
Par
of
of
Road. Bonds Value.
explanation of column headings, &c., see notes
on first page of tables.
Chicago St.Paul dMinneapolis—1st mort., g.,coup.*
Laud grant mort., income, coup. (2d on road)
C him go Sf. Paul d- Omaha—Stock
Mortgage (for $30,000,000)
Chieagn d: West. Mi.ehignn—Stock, new
1st "mortgage, New Buff', to St. Jo
Cincinnati Hamilton d Dayton—Stock
2d
do
1865../
Consol, nn rt. (for $3,000,000), sink, fund 1 p. c..
Cin. Ham. <fc I. (Junction) KH., 1st mort., guar...
Cincinnati Ind innap. St. Louis d Chicago—Stock..
Ind. & Cin. of 1858, 1st mort
Valley—1st mortgage
180
180
....
60
60
60
98
Indianapolis Cincinnati <fc Lafayette , mortgage..
Equipment bonds, registered
Cin. & Ind., 1st mortgage
do 2d M., guar. ($1,000,000 due ’77 ext. to ’92)
1st mort., Ciu. Ind. St. L. 6c Chic, (for $7,500,000)
Cincinnati Lafayette d: Chicago—1st mort., goid
Consolidated mortgage
Cincinnati d Muskingum
VOL. XXX.
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
BONDS
STOCKS AND
194
90
151
...
20
20
194
56
56
148
—
Amount
$700,000
1871
1871
$1,000
1,000
1877
1869
1856
1860
1854
1865
1877
1877
1878
1878
l,000&c
300.000
100
100 &c.
1,000
1,000
500 &c.
100 &c.
1,000
1,000
1188773--54690.
500 &c.
500 &e.
18S0
1,000
1869
1,000
1865
1875
1873
1,000
1858
1867
1873
1862
1867
1880
1871
1874
1870
500 &c.
1,000
1,000
1,000
500&c.
1,000
1,000
1,000
1,000
1,000
1874-956.
3,500j000
100
1.000
41,960,000
10,000,000
5,000,000
2,941,000
1,500,000
345,000
1,996,000
3,468,000
7,253,000
2,800,000
2,018,000
(?)
(?)
6,500,000
477,000
494,000
1,224,000
2,500,000
4,000,000
1,600,000
F. & A. N. Y„ Farit. L. & T. Co. Aug. 1, 1901
8
A. & O.
1891
8
100 st’k. Q.-F. New York, Co.’s Office. June 12, 18?0
do
do
6
J. & J.
July 1, 1917
do
do
M. & N.
7
Nov., 1890
J. & J. New York, Co.’s Office.
8
July 1, 1886
do
do
Oct. 1, 1890
8
A. & 0.
M. & N.
do
do
7
Nov., ’80 &’84
Feb. 1, 1886
do
do
8
F. & A.
do
do
Nov. 1, 1897
M. 6c N.
7
do
do
Dec. 1, 1907
6
J. & D.
New York, at Office.
6 8- M. 6c N.
•May 1, 1918
do
do
6 g. M. & N.
May. 1898
....
1930
6
8
3*2
7
6 & 7
7
7
7
10
7
7
6
2,800,000
362,000
499,000
1,501,000
1,000,000
1,120,000
7 g.
7 g7
830,000
1,500,000
M.
A.
J.
A.
J.
6c S. Bost., Treasurer’s office.
& O. N. Y., Winslow, L. & Co.
do
do
& J.
do
do
& O.
A.
F.
M.
J.
J.
M.
M.
J.
&
6c
&
6c
&
&
&
&
6c
J.
do
& J.
do
Sept. 1889
April 10,1880
July 20,1885
Oct., 1905
Jan., 1903
’
0. N. Y., Amer. Ex. Bank.
April, 1888
A.
do
do
Feb., 1897
do
do
S.
Sept. 1, 1883
do
•
do
D.
Dec., 1892
do
do
J
Jan.’82,’87,’92
N.
do
do
May 1, 1920
S. N.Y., J.S.Kennedy & Co.
Melt, 1901
do
Nov. 1. 1914
J.
do
J. New York, Moran Bros.
Jan., 1901
.
«-
Cincinnati Hamilton <£ Dayton.—Cincinnati, O., to Dayton, O., 60
Southwestern.—Pekin, Ill., to Mazin Bridge, Ill., 94
1870.* Receiver appointed in miles. Including leased lines, the Cincinnati Hamilton & Dayton system
has 341 miles; each lease reported separately.
Chartered in 1846 and
May, 1877. Sold under foreclosure June 30, 1879. Still in hands of
receiver. Gross earnings in 1877-78, $243,423; net earnings, $93,399. road opened in 1848. Defaulted on guaranteed C. H. 6c Ind. interest in
Capital stock (July 1, 1878), common, $788,000, and 7 per cent pre¬ 1877. Settlement by arbitration made as per Chronicle, V. 30, p. 116,
ferred, $38,000; funded debt, $1,000,000, and floating debt, $262,984. by which interest is to be paid hereafter and past-due coupons are
A dividend was paid as above April,
Construction and equipment, $2,065,704. (V. 28, p. 41, 08, 199; V. 29, funded into preferred stock.
Chicago Pel:in <£•
miles.
p.
Chartered in 1859 and opened in
328; V. 30, p. 14.)
Chicago Hock Island <£- Pacific.—Chicago, Ill., to
500 miles;
Council Bluffs, Iowa,
branches to Harbor, Calumet River, <kc., 9 miles; Wilton,
Iowa, to Knoxville, Iowa, 128
miles; leased roads—Peoria 6c Bureau
Valley, 47 miles; Indianola & Winterset branches, 48 miles; Iowa
Southern & North Missouri Railway, Washington, Iowa, to Leaven¬
worth, Kan., 271 miles; total operated, 1,003 miles. The company also
leases the Keokuk 6c Des Moines Railroad, 162 miles, and in February,
1880, the Kansas 6c Cameron line of Han. 6c St. Joseph. On June 4,1880,
a consolidation was made, giving the company 1,031 miles of road, and
•j96 leased.
This company includes by consolidation the Mississippi
<fc Missouri Railroad of Iowa, which was foreclosed under mortgage in
1866. The Illinois and Iowa roads were consolidated August 22, 1866,
under the present title, and the main line was extended to Council
Bluffs June, 1869. The Iowa Southern <fc Missouri Northern was form¬
erly the Chicago & Southwestern, and was foreclosed and purchased
by this company. The consolidation, with $50,000,000 stock authorized,
was made in Juue, 1880, and 100 per cent was distribute d to holders of
old stock (see V. 30, p. 356). The fiscal year cuds March 31, .and the
mileage, earnings, 6cc., have been as follows for six years past:
Gross
Net
*
Div.
Years.
Miles.
Earnings.
Earnings.
p. ct.
$7,388,635
$3,532,305
8
6741-2
077*4
7,342,190
8
3,687,029
707
6,917,657
3,349,364
8
7,895,870
3,511,356
8
1,003
4,329,960
1,231
9,409,833
8
11,061,662
5,265,116
8
The last annual report was published in the Chronicle, V. 29, p. 15. The
company has a land grant, with about 300,000 acres unsold March 31,
1879. in 1878-9, 21,348 acres were sold for $183,454—au average of
$8 59 per acre. (V. 28, p. 502 ; V. 29, p. 15,489, 608, 631; V. 30, p. 221,
356, 465, 544, 566, 590, 616.)
1880. In March, 1880, it was reported the Clev. Col. Cin. & Ind. com¬
pany purchased a majority of the C. II. & D. stock. Annual report in
V. 30, p. 598.
Gross
Net
Paym’ts from Net Earn’gs-s Balance
Years.
Earnings.
Interest.
Earnings.
Taxes.
Credit.
$1,171,998
1,128,355
1,147,753
946,921
936,433
907,211
$479,203
521,770
470,176
$56,440
55,873
53,044
312,749
48,900
374,468
369,350
950,624
437,160
Earnings for five years past were as
operated:
Years.
Miles.
341
341
341
341
341
341
$154,430
158,563
162,430
$248,333
307,334
254,702
185,640
78,209
207,544
118,925
191,450
141,163
191,520
216,464
follows, including all the roads
47,999
36,707
26,176
.
Gross Earnings.
Net Earnings.
$1,044,362
$2,818,116
2,875,774
2,431,874
2,362,892
2,2812,572
2,578,816
969,836
680,398
888,349
*'
841,169
968,649
Payments in 1879-30—Taxes, $82,599; interest, $452,649; dividends
(D. 6c M.), $131,921; total. $667,169. (V. 28, p. 68,302, 525,624; V.
29, p. 15, 197; V. 30, p. 116, 322, 465, 5116, 598, 624.)
Cincinnati Indianapolis St. Louis <6 Chicago.—The Indianapolis Cin¬
cinnati & Lafayette RR., extended from Lafayette, Ind., to Ohio State
Line, 158 miles; branches, 8 miles; leased: Cincinnati & Indiana Rail¬
road, 21 miles; Harrison Branch Railroad, 7 miles; total operated, 194.
miles. It was a consolidation in 1876 of the Indianapolis <fc Cincin¬
nati and the Lafayette & Indianapolis railroads, the company taking a
perpetual lease or the Cineinuati & Indiana Railroad. From October 26,
1870, to July 10, 1873, the property was in the hands of a receiver, and
bondholders made concessions by funding.
On August 1, 1876, a
Chicago St. Louis d- Xew Orleans—New Orleans, La., to Cairo, Ill., 549 receiver again was appointed, and the road was sold in foreclosure
miles; branch: Kosciusko Junction, Miss., to Kosciusko, Miss., 18 miles; Feb. 2,1880, and this company organized. Of the $7,500,000 new bonds
total, 567 miles. This company was formed November 8, 1877, by the to be issued, $6,885,000 is reserved, into which all of the old bonds, prior
consolidation of the New Orleans Jackson & Gt. Northern and the to the Indianapolis Cincinnati & Lafayette 7s of 1869, may be exchanged
Central Mississippi. The N. O. J. & G. N. road had been sold in fore¬ at their par value, leaving a surplus of $615,000 in new bonds. The
closure March 17,1877, and the Mississippi Central was sold August 23, other securities were: Indianapolis Cincinnati 6c Lafayette 7s of 1869,
1877. This company is controlled by the Illinois Central, which holds $2,087,750; I. C. & L. funding debt 7s (in which is included the old pre¬
61,000 shares of the stock, $1,600,000 of the first mortgage bonds and ferred stock), $1,419,300, and the common stock, $5,587,150. These
$5,023,000 of the second mortgage bonds.
The stock authorized is securities were provided for as follows: The 7s of 1869 received 70
$10,000,000, all of which has been issued./Of the first mortgage per cent of their face in new stock, and the funded debt 7s, or pre¬
bonds, $1,199,000 are a prior lien 011 that portion of the road in Ten¬ ferred stock, 40 per cent. This left a balance of new stock of $2,029,045,
nessee.
The Chicago St. Louis 6c New Orleans 2d mortgage bonds are which, with the balance of new bonds, $615,000, was offered as fol¬
lows: To tbe 7s of 1869,10 per cent in bonds and 30 per cent in stock
incomes until Dec., 1882, after which they draw interest at 6 percent.
Of the Mississippi Central second mortgage, $500,000 are claimed to for 10 per cent cash; to the funded debt 7s, 20 per cent bonds and 60
have been paid and are disputed by the present company, which has per cent in stock for 20 per cent cash; to the common stock, 2 per cent
brought suits for the surrender and cancellation of said bonds. Earnings bonds and 6 per cent in stock for 2 per cent cask. Operations and earn¬
and expenses for two years past have been as follows, viz.: Gross earn¬ ings for five years past were as follows:
Net
Gross
Freight (ton)
ings in 1877, $3,100,595, net earnings, $887,667; in 1878, gross earn¬
Passenger.
Earnings.
ings, $2,819,018, net earnings, $818,723. (V. 28, p. 277, 502; V. 29, p. Years.
Miles.
Earnings.
Mileage.
Mileage.
406 ; V. 30, p. 248, 465.)
$670,980
52,677,120
$1,767,231
194
24,055,103
673,098
52,465,909
1,637,061
194
22,113,531
Chicago St. Paul d• Minneapolis.—Elroy, Wis., to St. Croix Lake, Wis.,
490,810
38,803,669
1,311,210
194
19,244,431
177 miles; and reaches St. Paul over the St. Paul Stillwater & Taylor’s 1870-7
494,388
1,309,087
41,000,163
194
18,971,743
Falls (leased), 24 miles.
Chartered as West Wisconsin in 1863 and
507,920
1,342,701
194
Defaulted January 1, 1875; sold March
opened in December, 1872.
1, 1878; reorganization May 9, 1878.
Gross earnings in 1878-79, —(V. 27, p. 172, 303, 354, 383: V. 28, p. 302, 401, 526; V. 29, p. 18,
$1,070,203. Capital stock, common, $4,000,000, and preferred, $1,000,- 95, 277, 302, 405, 432, 459, 538, 563, 680; V. 30, p. 168, 192, 624.)
000; debt certificates (based on West Wisconsin land contracts), $499,Cincinnati I.afayelte <£• Chicago.—Kankakee, Ill., to Templeton, Ind.,
830, and floating debt, $416,572; total liabilities, $10,959,902. I11 56 miles. Consolidation in 1871 of the Kankakee 6c Indiana and the C.
March, 1880, an arrangement for consolidation was made with the L. 6c C.. railroads, and opened through August 25, 1872. Use the Lake
Sioux City & St. Paul. The first mortgage is a second on the lands; the Erie 6c Western between Templeton and Lafayette (19 miles), making
land mortgage a second on road; but no foreclosure can be had except the
operative length 75 miles. Sold to receiver of the Cincinnati Lafay¬
on default on first mortgage.
The lands mortgaged are about 500,000 ette & Chicago in October, 1879. Gross earnings in 1878, $419,491; in
acres, and the total lands owned considerably more.
(V. 28, p. 502.)
1879, $388,896. Net earnings, $1878, $130,912; in 1879, $100,262.
Chicago SI. Paul d- Omaha.—This is the new consolidation of the St.. Interest liability, $132,860 a year. No interest paid on second mort¬
Paul 6c Sioux City, the Chicago St. Paul 6c Minneapolis,North Wisconsin, gage bonds. Capital stock—common, $08,200, preferred, $1,861,000.
'
Floating debt, December 31. 1879 (including coupons unpaid, $257,765),
and other roads.
.
Chicagod; Wes! Michigan.—New Buffalo, Michigan, to Pentwater, Mich.,
170 miles, with branches to Grand Rapids (24 miles) and to Big Rapids
(51 miles); total, 245 miles. Organized as successors of Chicago 6c
Michigan Lake Shore January 1,’ 1879, the C. 6c M. L. S. having been
The stock is $6,500,000.
so’d in foreclosure November 16, 1878.
Original company organized in 1869 and main line opened in 1872.
Default July 1, 1873, and receivership from November 11, 1876, to
date ot reorganization. Earnings in 1879, $654,383, and expenses,
$541,556; profits,$112,826; interest paid, $37,359, and expended for
construction and
$423,215.
Cost of road and equipment, $3,900,509.
(V. 30, p. 356.)
Junction.
1851 and
opened in 1857. Sold under foreclosure October 17,1863, and reorgan
ized as Cincinnati 6c Zanesville March 11, 1864. Sold again December
10, 1869, and reorganized as at present. Leased for 99 years from Jan¬
Cincinnali dl- Muskingum Valley.—Morrow, O., to Dresden
O., 148 .miles.
Chartered as Cinn. Wilmington 6c Zanes. in
P.C. 6c St. Louis, lessees to pay all expenses and inter¬
of earnings to inure to the lessors. Gross earnings m
1879, $374,666; net earnings, $110,1 12.. Interest paid, $105,000. Sur¬
equipment, $97,336. (V. 27, p. 227, 53S; V.30,i>. 279.) plus, $5,142. Capital stock, $3,997,320. (Y. 39. p. 3S2.)
uary 1. 1873, to
any excess
est,'
>•>
i
AND
STOCKS
RAILROAD
June, 1830. J
25
BONDS.
a-
Subscribers will confer a
Date Size, or
of
of
par
Road. Bonds Value.
Miles
explanation of column headings, &c., see notes
on
lirst page
of tables.
36
36
90
40
188
138
Richmond <& Chic— 1st mort., guar.C. n.&D..
2d mortgage, guar, and owned by C. H. & D
Cin. Richmond & Ft. IF.—1st mort., gold, guar
Cincinnati Rockport <£• Southwestern—1st mortgage
Cincinnati Sandusky <£. Cleveland—Stock
Cin.
Amount
Outstanding
$1,000
1,000
65,000
1871
1.000
500
50
50
1.800,000
1878
Mortgage bonds,
do
Sandusky, Dayton A Cincinnati
Sandusky city A Ind
mortg. Cine., Sandusky & Cleve
Cincinnati <£ Springfield—1st mortgage, guar.
2d
•
«
•
•
•
•
.
•
80
48
114
2d mortgage
Cincinnati Wabash & Michigan—New stock
Cleveland Columbus Cincinnati <£• Ind.—Stock
1st mortgage (C. C. & C. RR.) $25,000 a year
do
(Bel. & Ind.) exeb. for new mort...
do
C., C., C. & I. sinking fund
Consol. M. for $7,500,000 (sink, fund 1 per ct.) ..
Cleveland & Mahoning Valley—Stock
471
138
202
390
390
80
67
67
35
145
....
....
1866
1852
.
.
.*.
1,000
1872
1,000
1,100,300
....
2,000,000
651,000
3,000,000
14,991,800
125,000
408,000
3,000,000
2,804,000
2,759,200
630,000
....
....
100
500
....
1860
1864
1869
1874
1,000
1,000
56781
1st mortgage, extended
New bonds
Niles A New Lisbon, 1st
mortgage
Cleveland Ml. Vernon & Del.—1st mortgage,
1st mortgage, Columbus Extension
gold
mortgage
„
Cleveland <& Pittsburgh—Guaranteed stock
4tli mortgage (now 1st)
Consolidated sinking fund mort. for $5,000,000..
Construction and equipment bonds
Cleve. Tuscans Val. <£ Wheeling— IstM., (L.S.AT.V.)
1st mortgage, new, prior lien
2d mortgage, new
E. A B., 1st mortgage
Colcbrookdale—1st mortgage
Income
225
199
199
1,000
50
500 Ac.
500 Ac.
500 Ac
....
1873
1876
1870
1870
1871
1875
1,350,000
1,000
950,000
669,000
1,000
1,000
1,000
1,000
101
500,000
1,000
500 Ac.
50
1862
1867
1873
....
....
-...
....
Cincinnati Richmond & Chicago.—Hamilton, O.,to Indiana State Line,
36, and Richmond & Miami Railroad (leased), 6; total, 42 miles. Char¬
tered as Eaton A Hamilton in 1847 and opened in 1863. Reorganized
May 3, 1866, and leased in perpetuity from February, 1869, to
H.
D. Co., the lessors to receive all surplus after expenses and bond interest.
C.
A
earnings in 1879-80, $214,556; net, $59,432; interest liability,
Capital stock, $382,600; funded debt,
$43,120; balance, $16,312.
$625,000; total (cost of property), $1,007,600. (V. 29, p. 15.)
Cincinnati Richmond <6 Fort Wayne.—Richmond Junction, Ind., to
Gross
F.
& A.
& D.
.
v1%
700,000
180,000
.
^
N.
D.
N.
A.
&
&
&
&
& S.
& J.
& J.
& 8.
Q.-M.
J. & J.
M. A N.
J. A J.
6
7
7
7
„
& J.
Dividend.
Whom.
Boston, Office.
.
&
&
&
&
&
Stocks—Last
Payable and by
do
do
N.
do
do
A.
do
do
8.
D. N. Y., Union Trust Co.
Or N. Y., U. 8. Trust Co.
do
do
&
M.
F.
M.
J.
A.
J
-
pal,When Due.
J. & J. N. Y., Winslow, L. A Co.
do
do
J. & J.
J. & D. N. Y., Winslow, L. A Co.
J. & J.
Boston, Pacific Bank.
J.
J.
M.
7 or 6 g. J.
M.
3%
F.
M.
J.
7
7 g. J.
7 gM.
7
1,397,000
N. Y., U. S. Trust Co.
do
do
do
do
do
"
do
New York or London.
July, 1895
1, 1889
Jan.
June, 1921
Jan. 1, 1908
1872
May 1, 1880
Aug. 1, 1900
Sept. 1, 1897
Dec. 1, 1890
April 1, 1901
1902
Febl* 1, 1.8S0
June,’75 to ’84
Until 1899
May, 1899
June 1,1914
(?)
Cleveland, Office.
N. Y., Ward, C. A Co.
Aug. 1, 1893
Sept., 1906
Jan., 1890
N, Y., Union Trust Co.
N.Winslow, L. A Co. Jan. 1, 1900
Jan. 1, 1901
do
do
Jan. 1, 1905
do
do
June 1, 1880
N. Y., Farm. L. A T. Co.
do
do
Jan., 1892
Nov. 1, 1900
do
do
Jan. 1, 1913
do
do
Cleveland, Ohio.
^
....
.
.
.
.
6
600,000
100 Ac.
1868
2 is
7
7
7
11,244,350
1,096,000
2,561.000
1,407,000
2,180,000
....
18
7
7
7 g.
6 g.
10s.
3
6
7
7
7
7
266,500
4,005,750
429,037
750,000
350,000
....
1867
1871
Rate per When Where
Cent.
Pay’ble
$560,000
1866
1869
591874-596.781
Preferred stock
Bond 8—Prmci
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
discovered in tbcse Tables.
great favor by giving immediate notice of any error
1
.
J.
•
A D.
The last annual report was published in the
Income account for four years was as follows:
1877.
1876.
Reccijds—
earnings
Rentals, interest, Ac.
Net
Total income
Disbursemetits—
Interest on debt
$
693,446
181,445
874,891
$
June 1, 1898
Phila., Co.’s Office.
Chronicle, V. 30, p. 355
1878.
1879.
514,591
$
745,203
$
982,748
149,420
102,696
664,011
847,899
$
$
$
.
s
83,912
1,086,410
$
425,180
420,087
428,383
426,878
Uses about 7*2 miles of connect¬
117.014
140,020
175,232
171,974
Richmond & Fort Wayne. Chartered in 1853 and Taxes
374,770
opened in 1866. Leased for 99 years to Grand Rapids A Indiana; in¬ Dividend No. 15
47,864
*66,429
103,744
2,319
terest is guaranteed by the lessees and by the Pennsylvania Company Accounts charged off.
and Cincinnati Hamilton A Dayton Company, jointly. Gross earnings
121,582
221,363
272,215 def. 41,843
Balance, surplus.
in 1879, $322,066; net, $82,532.
Total interest and rental liability,
$156,677. Loss to guarantors, $74,144. Capital stock, $2,500,000;
In 1878 $21,675 discount on bonds, and in 1879 paid Wabash Pool.
funded debt, $1,800,000; total stock and debt (representing property
cost), $4,300,000. Total advanced by guarantors, $505,636. The Cin¬
Operations and earnings for five years past were as follows, the net
cinnati Hamilton A Dayton Company is in default. (V. 29, p. 299.)
earnings not excluding taxes:
Net.
Gross
Freight (ton)
Passenger
Cincinnati Rockport <£■ Southwestern.—Rockport, Ind.,'. to Jasper,
Earnings.
Earnings.
Mileage.
Miles.
Mileage.
Ind., 40 miles. Chartered in 1871 and road opened in 1878. Gross Years.
263,311,981 $3,774,217 $894,024
30,497,320
472
earnings in 1878, $19,873; net, $7,634. Capital stock, $400,000.
-702,918
3,676,458
311,785,948
36,042,780
472
Cincinnati Sandusky <£■ Clevcland.—Sandusky, O., to Dayton, O., 154
488,779
3,434,356
275,686,300
29,066,177
472
miles, and Carey to Findlay, 16 miles; total, 170 miles. Columbus 1878
847,900
3,528,714
345,845,373
472
29,470,300
Springfield & Cincinnati (leased), 44 miles. Of the Cincinnati Sandusky
3,758,967 1,066,660
472
A Cleveland Railroad the division between Springfield & Dayton, 24
miles, is leased to and operated by the Cleveland Columbus Cincinnati A —(Y. 28, p. 301; V, 30, p. 248, 322, 355, 425, 518.)
Indianapolis. Operative length of Cincinnati Sandusky & Cleveland Rail¬
Cleveland & Mahoning Valley. -Cleveland, Ohio, to Pennsylvania State
road, 190 miles.
Line, 123 miles. Cnartered in 1848 and opened in 1851. It was leased to
-Lease Rentals.Traffic Statistics.
Available Atlantic & Great Western in perpetuity from October 1, 1861. The
Gross
Net
Revenue. receiver of the Atlantic & Great Western refused to operate part (43
Paid.
Received.
Years.
EamingR.
Earnings.
$215,899 miles) of the leased road. A new lease was made to the reorganized,
$80,000
$70,024
$787,671
$225,895
205,044 company, New York Pennsylvania & Ohio, at $357,000 till January,
81,124
71,186
791,891
214,983
109,950 1885, and $412,000 per year afterward. (V. 30, p. 494.)
80,000
65,206
655,421
124,744
113,963
65,942
67,621
647,202
112,284
Cleveland Mount Vernon <£ Delaware.— Hudson, Ohio, to Columbus,
140,105
40,000
69,869
,655,300
110,236
Ohio, 144 miles, and Massillon & Cleveland Railroad (leased), 12 miles;
The rental received from Cleveland Columbus Cincinnati A Indianapolis total, 156 miles. Opened to Millersburg from Hudson (61 miles) in 1853.
Railroad is 35 per cent of gross earnings, and that paid to Columbus This read has undergone several transfers. It was completed in its
Springfield A Cincinnati Railroad Company (formerly $80,000 a year) present proportions in 1873. Annual liabilities—Rental, $20,000, and
has been reduced one-half for three years. Preferred stock receives 6 bond interest (7s, $2,300,000), $161,000.
This amount is demanded
per cent per annum.
Capital stock—common, $4,605,750, and preferred, from the Pennsylvania Co. (lessees), but a readjustment is claimed by
$429,035. The yearly interest charge, including sinking fund ($10,000) the lessees. Default was made July, 1874, and coupons due then and
and preferred dividends, is $225,479. Six coupons on 2d mortgage one-half of coupons from Jan. 1, 1875, to and including July 1, 1877,
bonds were funded from June, 1877. The preferred stock has a lien by were postponed to Jan. 1, 1885, and the remaining half to be paid;
deposit of old bonds in trust. The receiver, after a three years’ posses¬ but this failed July, 1877, and negotiations have never been concluded.
sion of the property, was discharged January 1880.
(V. 28, p. 145; Y. Common stock, $1,318,129; preferred, $451,450. Net earnings for five
years past were as follows: 1875. $96,667; 1876, $63,533; 1877,
29, p. 197, 382, 406; V. 30, p. 144, 168, 192.)
Cincinnati <£■ Springfield.—Dayton, O., to Ludlow Grove, O., 48, and C. $81,725; 1878, $64,971; 1879, 27,061. (V. 28, p. 400; V. 30, p. 271,
8. & C. RR., Ac. (leased), 32; total, 80 miles. The whole is leased and 600.)
Cleveland <S: Pittsburg.—Cleveland, O., to Rochester, Pa., 124, with
operated by Clev. Col. C. & Ind Co., giving them a line into Cincinnati,
and depot accommodation.
Lessees apply any excess over rentals to C. branches to New Philadelphia, 33, and to Bellaire, 43; total owned, 200
& S. interest, which is guaranteed on the first mortgage, one-half by the miles: add P. F. W. & C. RR. (leased), 26 miles; total operated line,
lessees and one-half by L. Shore A Mich. Southern. Stock is $1,100,000. 226 miles. The property was leased for 999 years from December 1,
Cincinnati Wabash & Michigan.—Goshen, Ind., to Anderson, Ind., 110 1871, to Pennsylvania Railroad Co., and lease transferred to Pennsyl¬
miles. Road, as now existing, opened in May, 1876. Transferred to vania Company May 1,1872. Rental, 7 per cent on existing capital and
trustees January 1,1878, and sold November 5, 1879, to said trustees, $10,000 per year for company expenses, the lessees assuming all liabili¬
for account of bondholders.
New company organized April, 1880, ties. The terms of the lease were 10 per cent, but the old stock was
under name of Cincinnati Wabash A Michigan Railway. New stock, subsequently converted into 7 per cent by an increase in amoimt.
Operations and earnings for five years past were as follows:
$3,000,000, to be issued. (V. 29, p. 382; V. 30, p. 433.)
Passenger
Freight (ton)
Gross
Net
Div.
Cleveland Columbus Cincinnati & Indianapolis.—Cleveland, Ohio, to
Mileage.
Mileage.
Earnings. Earnings, p.c.
Miles.
Columbus, Ohio, 138 miles; Gallon, Ohio, to Indianapolis, Ind., 203 Years.
$1,243,627
$2,629,037
116,819,297 ‘
“ “
226
17,611,298
miles; Delaware, Ohio,‘to Springfield, Ohio, 50 miles; leased, Cincin¬
890,582
2,282,030
108,664,100
226
19,844,913
nati & Springfield Railroad, 80 miles; total owned and leased, 471 miles.
1,039,172
2,330,834
133,991,706
15,640,607
226
This was a consolidation in April, 1868, embracing the C. C. A C. and the
966,112
2,272,167
226
14,853,524 143,114,623
Belief on taine railroads. The company paid dividends prior to 1875, but
1,342,858
2,609,593
226
since then the large decline in rates for through freight and the heavy
rentals paid reduced the company’s income so that no further dividends -(V. 28, p. 41, 300.)
were paid until 1880.
The sinking fund provision of consolidated bonds
Cleveland Tuscarawas Valley <6 Wheeling.—Black River, O., to Urichsmay be canceled at option of holders. In March, 1880, it was reported ville, Ohio, 101 miles. Chartered as Lake Shore & Tuscarawas Valley in
this company purchased a majority of the C. H. A D. stock. The prices 1870 and
opened in 1873. Sold under foreclosure January 26, 1875,
of stock and monthly earnings have been :
and reorganized under present title. Is being extended to Wheeling,
-Prices of Stock.Monthly Earnings. 57 miles. The new first mortgage is a prior lien by consent of all the
1878
1877.
1879.
1879.
1880.
1880.
mortgage bondholders. Gross earnings in 1878, $474,525; in 1879.
Jan.
33 io 38i4- 34
48V 3434 81V 77% $238,234 $315,536
$446,749. Net earnings in 1878, $114,462; in 1879, $162,319. Interest
34
Feb.
21
2734 46V 39i2 82V 75
254,232 309,115
Fort Wayne
Junction, Ind., 83 miles.
ing roads to reach
.
*
.
...
,
—n
-
2412
30V 27
44
Apr.
19ifl
32 %- 25%
May
25
22
29V 2512
33 - 2414
2312
2412
3112
3712
27 28 V
34 Si33 *-
48V 4012
55 - 443g
53V 48
53V 50
35
33V 30
31%
34V 3112
Mar.
J’ne.
July
Aug.
Sept
Oct..
Nov.
Dec.
25
23
28
29%
-
40
48%
59V 50%
55
-
71
-
56
85V 70
83 - 75
80%- 77
80 - 74
76V 61
233,780
-
230,866
264,482
267,894
312,705
366,629
413,436
-
426,629
......
-
-
-
369,646
380,428
liability, $244,850 per annum. Capital stock, $1,055,950. (V. 30,
281,650 272,297.) V
Colebrookcdale.—Pottstown, Pa., to Barto, Pa., 13 miles. Chartered
303,906
302,787
p.
in
opened in 1869. Leased for 20 years from January 1,1870,
to Philadelphia & Reading, at 30 percent of gross earnings. In June,
1880, default was made on bonds. Gross earnings in 1879, $30,544;
net earnings (30 per cent rental), $9,163. Payments—interest, $36,000.
and other, $305. Capital stock, $297,215; funded debt, $600,000, and
floating debt, $54,432; total liabilities, $926,087. Construction ($52,146
per mile), $667,774, and profit and loss, $288,784.
(V. 30, p. 589,)
1865 and
Subscribers will confer
a
For explanation of column headings, &c.,
on first page of tables.
6987781
Income conv. do
do
do
Income (Toledo, Logansport & Burlington)
Union Trust Co. certificates
Columbus d Hockimf Valley—Stock
1st mortgage, sinking fund bonds
588
588
117
208
93
61
102
107
208
224
1864
1865
1863
1864
mortgage
Concord—Stock
Concord d: Claremont—Bonds
Concord d Portsmouth—Stock, guaranteed
Connecticut Central— 1st mortgage for $400,000...
Connecticut d Passumpsic—Stock
New mortgage (for $1,500,000)
89
76
13
89
45
118
55
55
141
71
41
i.46
110
Conn. & Pass.
bonds, guar, by Conn. & Pass
guar, same
div.
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
38
38
56
as
Connecticut River—Stock
1867
1870
1872
1871
1875
500 &c.
269; V. 30,
p.
1860
1,000
1874
50
500 &c.
100
1869
....
100
168.)
Gross earnings,
1878.
$36,174;
operating
1822,210, and net earnings, paid to lessors, $13,964.
expenses,
Capital stock,
$208,177; funded debt, $1,603,000, and floating debt, $449,732; total
liabilities, $2,260,899. Cost of property, $1,702,335.
Columbus Chicago d Indiana Centra?.—Columbus, O., to Indianapolis,
Ind., 187 miles; Bradford Junction, O., to Chicago. III., 231 miles; Rich¬
mond Junction, Ind., to Anoka Junction, Ind., 102 miles; Peoria Junc¬
tion, Ind., to Illinois State Line, 60 miles; total, 580 miles. This company
by whom it
was operated during the last two years, under direction of the
U. S. Circuit Court, for account of Receivers of the C. C. & I. C. Ry.
Go. The lease stipulated that the lessees should maintain the road and
equipment, operate it, and pay' over to the lessors 30 per cent of the
earnings. Also, that the rental should always be equal to the inter¬
est on $15,000,000 first mortgage bonds of the C. C. & I. C. Ry\ Co.,
and $821,000 of the second mortgage bonds of the Col. & Ind. RR. Co.
The lessees also agree to pay the interest as it accrues on these bonds.
Any net earnings remaining after the payment of this interest are to be
applied to the payment of interest on the second mortgage 7 per cent
bonds to the amount of $10,000,000 (or on the preferred stock into which
these last bonds
may be converted), to pay to a sinking fund of one-half
of one per cent on the $15,821,000 referred to, and to apply any balance
to dividends on common stock. In August, 1874, default was made on the
$5,000,000 seconds, and April 1, 1875, defaulted on first mortgage. I11
the suit between lessor and lessee, Judge Harlan decided the debt must
be reduced to the limit—(See bondholders’ report, Y. 29, p. 656.) Pur¬
suant to this decision, the debt was substantially reduced as required,
gross
.and the final decision of Justice Harlan in
January, 1880, embraced the
1
but
from date the trustees to have execution
paid within sixty days
against the "Panhandle and
Pennsylvania companies therefor; but the net earnings of the Columbus
Chicago A Indiana Central Road for November and December last shall
"be credited on the judgment, as well as the sum of $114,267 61, the
-earnings for the month of October. The payments by' the lessees on the
Judgment shall be deposited in the Gallatin National Bank, and to the
credit of James A. Roosevelt and William R. Fosdiek, trustees, and the
lessees shall be bound under the lease to pay' to the said trustees and
their successors, so long as their receivership shall last, as rental for the
premises of the Columbus Chicago & Indiana Central, 35 per cent of the
gross earnings of the road, and in case they'fall short of $1,107,470(7
per cent interest on $15,821,000 of bonded indebtedness) in any' one y'ear,
then the deficiency shall be made good by' the lessee.
*
*
*
The lessee is entitled to receive from the* Columbus Chicago & Indiana
<ni its claim for betterments, income bonds to the amount of
•Central,
$660;000.” From this decision the Pennsylvania Railroad appealed to
tlie U. S. Supreme Court. The effect of the decision is considered in the
Jlew York Committee’s circular, V. 30, p. 289. There is also on record
judgment for $932,500 on $298,000 Newcastle* Richmond RR., 1st
bonds, with interest, ahead of the consol, mortgage. The gross
earnings for six months, Septemlier to March, are given as $2,282,748,
and net earnings $725,237, against $361,927 for same time in 1878-9.
Operations and earnings for five years past were as follows:
a
mort.
Passenger
Mileage*.
33,250,748
37,754,467
31,795,297
32,132,185
Freight (ton)
Net
Gross
Year s.
Miles.
Mileage.
Earnings.
Earnings.
1875
587
239,812,791 $3,619,653 $606,442
*876
581
•
274,953,224
3,457,716
506,608
581
254,492,612
3,396,255
455,340
581
305,019,182
3,433,665
411,514
580
33.967,484
402,856,462
756.300
3,911,261
=-(V. 27 p. 172, 199; V. 28, p. 43, 145, 172, 377,453,503; V. 29, p.
*46. 169, 252, 433, 459, 656, 680; V. 30, p. 16, 163, 289. 383, 518.)
Columbus d: Hocking Valley.—Columbus, O., to Athens, O. (steel), 76
miles, and sundry branches, 29 miles; total, 105 miles. Chartered as
^‘Mineral Railroad” in 1864. Present title adopted in 1867 and main
line opened in 1809. In 1879 a million tons of coal were moved. Gross
Aug. 1, 1892
Various
J. & J.
A. * O.
F. & A.
J. & J.
Various
M. & N.
J. & J.
F. & A.
F. & A.
F. & A.
.
April, 1908
N. Y., A. Iselin & Co.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
1893 *’95
Nov., 1904
Dec., 1905
Feb., 1884
Dec., 1883
1886 to’90
Nov., 1904
Feb., 1890
N.
Y., A. Iselin & Co.
A.
Feb. 10, 1880
Columbus, Office.
0. N. Y., St. Nich. Nat. B'k Oct. 1, 1897
J.
do
do
July 1, 1880
do
do
Jan. 1, 1892
J.
S. N. Y., Union Trust Co.
Sept. 1, 1901
A.
New York.
Aug. 1, 1905
Mar. 10,1880
Columbus Treasury.
Q.-M.
F.
A.
J.
J.
M.
F.
7
7
7
7
7.
2l5
5
500,000
350,000
325,000
2,175,700
7
1,409,500
7
123,000
400,000
400,000
7
Concord, N. H.
313
7
1^
1^
6 g.
4
2,100,000
!
&
&
&
&
*
&
1VL& S. N. Y., Am. Exch. N. B’k
M. & N. Bost.&Mancliester.N.H.
7
1,500,000
1
J. & J. Bo8t.&Manchester,N.H.
A. & 0.
F. & A.
Boston Office.
do
A. & O.
do
Various
F. & A.
do
J. & J.
do
J. & J. Boston, Bost.& Alb. RR.
Sept. 1,1890
May 1. 1880
1894
Jan.
1, 1880
Oct., 1895
Feb. 2, 1880
April 1, 1893
Jan. 1, 1881
Feb.
2.
1880
July 1, 1889
July 1, 1880
earnings, $1,005,973, and expenses, $636,773; net earnings, $395,799.
Dividends of 8 per cent have been paid for some years. The last annual
report was published in V. 30, p. 407. Operations and earnings for live
y'ears past were as follows:
Passenger Freight (ton)
Gross
Net
Div.
Years.
Miles
Mileage.
Mileage.
Earnings. Earnings, p. c.
89
45,853,513
$877,590 $358,376
8
3,151,140
8
47,572,017
841,139
386,834
55,860,504
3,228,815
820,899
357,755
8
63.317,069
871,553
391,127
3,093,965
8
73,188,798 1,032,572
395,799
3,652,905"
8
-(V. 28, p. 399; V. 30, p. 407.)
Columbus Springfield d Cincinnati.—Columbus, O., to Springfield, 0.,
44 miles. Opened in 1872. Leased to Cincinnati Sandusky' & Cleveland
for $80,000 a .year, but in 1878 lease-rental reduced one half for the
next succeeding three y'ears. I111878 the balance sheet showed: capital
stock, $1,000,000; bonds, $1,000,000; unpaid coupons, $70,000; and
Construction,
profit and loss, $59,428; total liabilities, $2,129,428.
$2,000,000; rental account, $100,000; and other property' and assets,
$29,428.
Columbus d Toledo.—Columbus, O., to Walbridgc, O., 118 miles—about
89
100
105
105
65 miles steel. Completed in 1877. The tracks of Northwestern Ohio
are used for 5*a miles from Walbridgc to Toledo.
Gross earnings in 1879
$574,893, and expenses, $314,632. Net earnings, $260,260; lease
rental paid Northwestern Ohio Railroad, $21,178; interest, $169,867.
Capital stock is $915,097. There were bills out of $127,016, in the shape
of 10-y'ear notes for real estate. Annual report, V. 30, p. 407. (V. 23, p.
399.)
Columbus d Xenia.—Columbus, O., to Xenia, O., 55 miles. Is operated
division of the Little Miami, and is leased for 99 y'ears in connection
with that road to the Pittsburg Cincinnati & St. Louis, which pays 8% per
cent on stock and provides for the bonds. The lease is guaranteed by
as a
the
Pennsylvania Railroad Company'.
Concord.—Concord, N. H., to Nashua, N. H., 35 miles. The company
miles) and the Hookset
also own the Manchester* North Weare (19
Branch (7 miles), and operate under lease the
Concord * Portsmouth,
the Suucook Valley and the Nashua Acton & Boston. Operations, earn¬
ings, and income over rentals, &c., for six years past were as follows:
Div.
Net
Gross
Passenger Freight (ton)
Income. p. c.
Years.
Miles.
Mileage.
Earnings.
Mileage.
10
1874-5..
142
13,240,002 21,926,106 $1,002,950 $151,676
10
142
1875-6..
151,030
950,358
12,987,174 20,008,402
10
1876-7..
142
871,528
150,653
12,067,832
19,111,714
10
142
1877-8..
771,171
150,687
10,850,140 21,634,669
10
1878-9..
142
170,617
733,004
21,609,056
10,580,508
following: “That the Columbus Chicago & Indiana Central Company has
performed its covenant of the lease in reducing the bonded indebtedness
of the road; that the Pennsylvania Company (guarantor of the lease) is
entitled to $1,258,000 of convertible income bonds for the same amount
of second mortgage bonds of the Columbus Chicago & Indiana Central
Company, together with $572,390 accrued interest; that on the 1st of
January, 1880, there was due and unpaid, as rent, by* the lessees, $3,356.855 97; but they are entitled to a total deduction of $587,281 07,
1879-80
lea.yiiie net amount due to the Columbus Chicago & Indiana Central -(V. 28,
entitled
.
Dividend.
,
730,000
1,000,000
2,468,000
1,786,200
302,000
100
100 &c.
100 &c.,
100 |
1,000
7
7
7
7
7
7
7
7
7
7
7
A. & O.
4
300,000
r
1873
Whom.
& D. Boston, Treas.’s Office.
J.
7
57,545
1,500.000
2,030,150
1,500,000
1875
Columbia d rort Deposit.—Columbia, Pa., to Port Deposit, Md., 39
miles. Leased to and operated by Pennsylvania Railroad Co. Rental,
earnings.
8,995^000
50
.
net
23,200
120,000
1,000
1,000
1,000
1,000
Golden to Central City, 24miles, and to Georgetown, 35 miles; total
3-foot gauge, 59miles. Aggregate, 192*4 miles. Chartered in 1865,
and main line opened in 1870. It is largely owned by the Union Pacific.
The new mortgage bond was issued to take up the old 8 per cent bonds.
p.
821,000
50
Colorado Central.- Golden, C'ol., to Cheyenne, Wy., 118 miles, and
•Golden to Denver, 15 miles; total (standard gauge), 133 miles; and
<V. 28,
10,478.000
224,000
2,632,000
715,000
510,500
372,000
113,000
....
1871
coupon
Massawippi st’k,
•
When
13^938,972
1,000
•
Princi¬
pal,When Due.
Where Payable, and by Stocks—Lust
Payable
7 g.
7
8
1,603,000
100
1868
Rate per
Cent.
$2,526,000
$1,000
39
1870
Columbus Springfield d Cincinnati—1st mort
Columbus d Toledo— 1st mortgage coupon, s. f
Columbus d Xenia—Stock
,
do
1879
Outstanding
c
1st mortgage, Logan & Straitsville Branch
2d mortgage bonds
7981
78
Amount
537
Columbus, Chicago * Ind. Central...
Notes,
[VOL. XXX.
INTEREST OR DIVIDENDS.
Date
Miles
Size, or
of
Par
of
see notes
Road. Bonds Value.
Colorado Central—1st mortgage, new
Columbia & Port Deposit—1st mortgage..
Columbus Chicago d Indiana Central—Stock
1st M. (consol J Columbus, Chic. & Ind. Central..
do
Chic. & G’t East. (Chic, to Logansport)
do
Col. & Ind’polis Cent. (Col. to Ind’s, Iml.)..
do
Union & Logansp’t (U’n City to Logansp’t)
do
Tol. Logausp’t & Burl.(Logansp. to III. line)
do
Col.& Ind. coin.,lst*2d pf.(Col. to U’n City)
do
Cinn. & Cliic. Air Line(Richm’d to Logans.)
■2d M. Col. & lud’polisCent. (Cov.to Union City')..
do
Chic. & G’t East, construe. (Chic, to Rich’d)
do
BONDS.
great favor by giving immediate notice of any error discovered in tbese Tables.
DESCRIPTION.
1st
AND
RAILKOAD STOCKS
26
...
...
...
...
...
870,088
.
p.
525; V. 30, 599.)
186,117
10
,
Concord d Claremont.—Concord to Claremont, N. H., 56 miles, and
Contoocookville to Hillsborough, 15 miles; total, 71 miles. Consolida¬
tion of several small roads in 1873. Gross earnings in 1877-8, $145,718,
and
operating expenditures, $96,918; net earnings, 48.800.
Capital
stock, $410,900, and bonds, $500,000; total stock and bonds, $910,000,
which was the cost to the consolidation. Original cost of property,
$1,850,000.
Concord d Portsmouth.—Portsmouth, N. H., to Manchester, N. H., 40*s
The road was sold to first mortgage bondholders in 1857, and
leased to Concord Railroad in 1858. Lease rental is $25,000 a-.vear,
which gives 7 per cent a year to present stockholders. There is no debt.
Connecticut Central.—East Hartford, Ct., to Massachusetts Line, 20
miles.
miles, with branch from Melrose to Rockville, 7 miles; and leases Springfield & New London, 8 miles; total, 35 miles. Leased to New Yore
& New England RR. from June 1,1880. Capital stock, $437,600; funded
debt, $325,000; and bills, overdue coupons, &c., $28,953. In March,
1880, $302,000 of the bonds were sold to New York & New England RR.
—(V. 30, p. 116, 357, 544.)
110
Connecticut d Passumpsic.—White River Junction to Canada Line,
miles. Leases Massawippi Valley' (Canada), 36 miles. Total operated,
147 miles. Chartered in 1835. Completed in 1863. The lease of Mas¬
sawippi Railroad is at 6 per cent on- bonds and same dividends as are
paid on the stock of the lessee. Abstract of last report in V. 29, p. 299.
mortgage of $1,500,000 will retire previous issues. Operations
earnings for five y ears past were as follows:
Gross
Net
Div.
Passenger Freight (ton)
Years.
Miles.
Mileage.
Earnings. Earnings, p.c.
Mileage.
1874-5..
5,971,686
7,826,758 $706,754 $224,110
1875-6..
147
240,955
6,805,104
637,554
5,170,347
147
1876-7..
244,311
604,596
5,619,829
7,618,721
The
and
new
...
...
1877-8..
1878-9..
-(V. 29,
...
...
147
147
4,464,983
4,400,575
8,179,341
8,574,443
558,612
544,142
222,590
219,695
p. 299, 301.)
Connecticut River.—Springfield. Mass., to South Vernon, Vt., 50 miles,
and branches, 6 miles; total, 56 miles. Leases Ashuelot Railroad (24
miles) at about $14,000. Pays 8 per cent dividends on stock and baa
paid off all the funded debt. (V. 29, p. 510.)
KAILROAD
June, 1880.]
Subscribers will confer a great favor
DESCRIPTION.
For explanation of column
on
-
first page
Leadings, &c., see notes
of tables.
STOCKS
BONDS.
AND
by giving immediate notice of any error discovered in these Tables.
Miles
Date
of
of
Road. Bonds
.Size,
or
Par
Value.
Amount
Outstanding
INTEREST OR DIVIDENDS.
Bonds—Princi¬
Rate per When Where Payable, and by
Whom.
Cent.
Payable
Stocks—Last
pal. When Due..
Dividend.
%
Connecticut Western—1st mortgage
Connecting (Phila.)—1st mortgage
Corning Cowanesque <£ Antrim—1st mortgage
Cumberland i£ Pennsylvania—1st mortgage
mortgage, sinking fund, (guaranteed)
2d
Cumberland Valley—Stock
1st
mortgage.
2d mortgage, sinking
($484,900 preferred) —
fund guaranteed
Common bonds
67
7
64
38
38
110
52
52
•
Danbury <£ Norwalk—Stock.'.
1st, 2d and 3d mortgages
Dayton & Michigan—Com. stock (3Jaguar.C.H.AD.)
Preferred stock, (8 percent, guar. C. H. AD.)
1st mortgage, sinking fund, $30,000 per year....
2d mortgage
3d mortgage
Toledo depot (cost $353,940) 1st and 2d mortgage
.
Dayton <£• Union—1st mortgage
•
•
1870
1864
•
•
1,000
1868
1,000
m
m
m
..mm*
m
m
m
m
‘
’60-’72
V
*
*
m
Q.-J.
A. A O.
A. A O.
A. A O.
8
6
1*4
1%
1,211,250
1,846,000
426,000
351,000
2
7
7
7
7
7
7
7
6 A 7
3
6
July 1, 1885>
Co.’s Office. March 1, 1891
do
May 1, 1888
Phila. and Carlisle, Pa.
April, 1880
Phila., T. A. Biddle A Co April 1, 1904
do
do
April 1, 190&
Jan. 1, 1884
do
do
New York and Danbury June 1, 1880
New York, 84 Broadw’y 1880, ’90. *92
1874-0578186123-790. 1879654.
2d mortgage
Income mortgage
...
1871
1856
1867
1,000
1,000
1869
61A64
500 Ac.
31
Delaware—Stock
.
Mortgage bonds, convertible, guar. P. W. A B
Delaware & Bound Brook— Stock, guaranteed
1st mortgage
Delaware Lackawanna <t> Western—Stock
2d mortgage (Delaware Lackawanna A Western)
Consol, niort., on roads Aequipm’t,($l 0,000,000).
Bonds (convertible June 1, 1875 to ’77)
105,500
100,000
135,000
,
....
bonds
Dayton & Western—1st M., guar. L. M. and C. A X..
1,000
.....
41
100
1865
1,000
85
1875
1,000
27
195
115
288
1875
..'
252,444
495,000
1,456,719
25
50
500 Ac.
1856
1877
1872
650,000
1,598,000
1,500,000
26,200,000
Connecticut Western.—Hartford, Conn., to New York State line, 07
Chartered in 1808 and road completed in Dec., 1871. Gross
miles.
Capital stock,
earnings in 1879, $223,084; net earnings, $50,715.
$1,892,100. Permanent property, $5,042,785. No bond interest has been
paid since Jan. 1, 1870. Foreclosure suit begun in 1880, and the State
Treasurer took possession. (Y. 30, p. 192, 405.)
in
Q.-J.
do
do
M. A 8.
M. A S.
J. A D.
7
7
7
3,067,000
600,000
1,000
F. A A.
2*3
May 1, 1880'
August, 1905
July 20, 1876
March 1,1881
Sept. 1. 1907"
Philadelphia.
Philadelphia.
New York, Otlice.
Q.-F.
1*3
7
1,633,000
1900
J. A J.
A. A O. Cincinnati. C. H.A D.Co.
April, 1880
April, 1880
Q.-J. N. Y., Winslow, L. A Co.
do
do
J. A J.
July, 1881
do
do
M. A S.
Sept., 1887
do
do
Oct., 1888
A. A O.
Mar..’81 A *94
do
do
M. A S.
Jan. 1, 1870
Jan. 1, 1870
Jan. 1, 1870
J. A J. N. Y., Am. Exch. N. B’k Jan. 1, 1905
J. A J.
j July 2, 1880
Dover, Co.’s Ofitce.
J. A J. Phil., Fid’lity T.T.A.8.C0 | July 1, 1895
7
2,401,574
July 1,
1900-’l-’2-’3-*4
Philadelphia.
M. A S. New York,
M. A N.
do
8
81,800
600,000
500,000
N. Y.,Met. N. Bank.
A J.
M. A S.
J.
2*3
1,777,850
161,000
109,500
50
500 Ac.
500 Ac.
100 Ac.
50
100 Ac.
50
50
m
•
33
33
142
142
142
142
142
500,000
803,500
594,000
•
•
1866
7
6
7 g.
6
6
$3,200,000
991,000
$500Ac.
1,000
do
do
do
-
do
perpetuity from Jan. 1,1865, to Little Miami,
road in the general lease to the I*. C. A St. Louis.
owners and are answerable for all obligations.
and carried wdth that
The lessees are virtual,
Delaware.—Delaware Junction (P. W. A B.), Del., to
84 miles and with branches 100 miles.
June, 1892
Delmai* (Md. lino);.
One branch (6 miles) is operated
by the Dorchester & Delaware Company. The Delaware Railroad was
1855-1860, and is leased to P. W. A B. Company; rental 30 per
{Philadelphia).—Mantua to Frankford, Pa., 7 miles. A opened
connecting link in Philadelphia to the West and South. Operated by cent of gross earnings, but stoek must have six per cent. Gross earnings
Pennsylvania Railroad. Rental, 0 per cent on capital stock, $1,278,300; in 1878 $365,580, net, $109,674; in 1879, gross, $148,362. net, $134,Connecting
$991,000. The bonds are issued in series ABC and I>,
maturing respectively in 1900-1, ’2, ’3 and ’4.
and funded debt,
Corning Cowanesque <f: Antrim.—Corning, N. Y., rto Antrim, Pa., 53
miles, and Laureneeville and Elkolt, Pa., 11 miles; total, 04 miles
Consolidation (January, 1873) of the Petersburg A Corning and the
Wellsboro railroad companies.
June 1, 1874, the Cowanesque Valley
Railroad was absorbed. These lines are leased to and operated by the
Fall Brook Coal Company. Rental paid—'7 per cent on bonds, $35,000;
6 per cent on common stock, $84,000, and 12 per cent on preferred
stock, $60,000; total rental, $179,000 a year.
Stock—common,
$1,400,000, and preferred, $500,000; and 7 per cent bonds, $500,000;
total ($137,500 per mile), $2,400,000.
Annual drawings of $20,000
commencing in 1880.
Cumberland & Pennsylvania.—Cumberland,
Md., to Piedmont, Md.,
owned
with several branches, in all 55 miles, almost all steel rail.
It is
and operated by Consolidation Coal Company, which guarantees
second
mortgage.
Cumberland Valley.—Harrisburg, Pa., to Potomac River, Md., 82 miles.
Chartered in 1831. Main line, Harrisburg to Cumberland, completed in
1839, and extended to the River in 1872. Owns or leases several factory
The stock is owned in large part by Penn¬
roads, in all about 43 miles.
sylvania Railroad Company. Last annual report V. 30, p. 297, gave
the
following general balance Dec. 31, 1879:
Dr.
Cost of road and equip¬
ment
Materials
hand
Trustees of the contin¬
gent fund
on
$1,887,465
58,299
570,149
Balance of accounts....
83,785
Cash, Dec. 31, 1879
150,714
$2,302,414
Cr.
First preferred stock....
Second preferred stock.
Common stock
First mortgage bonds...
Second mortgage bonds.
Common bonds
Due for dividends
Due for interest on Inis.
Balance
$241,900
243,000
1,292,950
101,000
109,500
81,800
45,473
1,783
585,006
$2,702,414
Large advances have been made to branch roads, Operations and
earnings for live years past were as follows :
Passenger Freight (ton) Gross
Net
/—Div.p.c.-^
Years.
Miles.
Mileage. Mileage.
125 7,103,054 9,730,205
125 7,314,649 10,531,250
125 5,809,502 11,002,510
125 5,410,229 11,030,907
1870-7
1879
—(V. 28, p. 427 ; V. 30, p.
12,485,385
297.)
Earnings. Earn’gs. Pref. Com
10
$520,070 $249,042 10
547,994
519,851
530,410
503,597
289,351
254,253
224,985
204,900
121a
12Jg
10
10
10
10
10
10
Danbury <£• Norwalk.—Danbury, Conn., to South Norwalk, Conn.. 24
miles, with branches to Ridgeville and Hawleyville, together 10 miles.
Opened in 1852. Gross earnings in 1878, $157,953; net, $39,607. Form¬
erly paid 6 i>er cent, but dividends have been irregular. Operations and
508.
Dividends and interest paid, $132,339.
Delaware & Bound
(V. 28, p. 09.)
Brook.—Bound Brook (C. of N. J.), to Delaware-
River (27 miles), and Trenton (4 miles), in all 31 miles. In connection
with Central of New Jersey and North Pennsylvania forms a line between
Newr York and Philadelphia. In May, 1879, the property was leased for
990 years to the Philadelphia A Reading Railroad Company—the lessee
paying interest and 0 per cent on stock in 1879-81,7 per cent in 1881-83,
and 8 per cent afterward. The terms w’ere described as follows at the
time: “ The lease is for 990 years, being made for this term because the
Bound Brook’s charter is for 999 years, and a few-years of its existence
have already passed. The conditions are that the Reading is to pay all
interest on the bonds of both the main roads and the laterals, and the
interest on the floating indebtedness at 6 per cent, until the bonds are
converted. The Reading also binds itself to pay dividends on the stock
of both roads quarterly, on the 1st of February, May, August ami No¬
vember. For the flrst two years it is bound to pay 6 per cent dividends;
for the next two years following, 7 per cent, and for all subsequent
years 8 per cent, free of all taxes. The bonded indebtedness or tin*
Bound Brook road is $1,500,000, and the capital stock about $1,500,000.**’
Gross earnings in 1878 $270,570; net, $119,022.
(V. 28, p. 451, 503;
V. 30, p. 566.)
.
River (N. J. line) to New
line, 115 miles; Bloomsburg branch, 80 miles; Wintoir
Branch, 8 miles; Keyser Valley branch, 5 miles; leased lines in New
Delaware Lackawanna <£• Western.— Delaware
York Btate
York—Cayuga A Susquehanna Railroad, 35 miles; Green Railroad,.
8 miles; Oswego A Syracuse Railroad, 35 miles; Utica Chenango A
Susquehanna Valley Railroad, 98 miles; Valley Railroad, 11 miles;
total leased lines, 187 miles; controlled and operated—Syracuse Bing¬
hamton A New York, 81
miles; Rome A Clinton Railroad, 13 miles;
Utica Clinton A Binghamton, 31
miles; total controlled and operated,.
10 miles;
125 miles; leased lines in New Jersey—Chester Railroad,
Morris A Essex, 118 miles; Newark A Bloomfield, 4 miles; Warren RR.,
19 miles; total, 160 miles: grand total operated, 670 miles. For the
terms of leases, see remarks under the names of the respective leased
roads.
The Lackaw’anna A Bloomsburg was consolidated with this
company June 19, 1873.
statement of the company
Gross earnings
Less expenses
The following is a synopsis of the annual
for 1879:
$19,942,290
from all sources
16,131,839$3,810,451
Balance net earnings
Deduct interest
on
Actual profit for the year ending
Add surplus Income to Dec. 31, 1878
Miles.
..
..
..
..
33
33
33
33
Passenger
Mileage.
2,355,878
2,521,678
2,464,378
2,557,337
2,481,889
Gross
Freight (ton)
Mileage.
Earnings.
889,947
$167,027
960,977
173,478
903,384
165,245
2 57,953c
932,634
1,089,900
164,236
Net
Earnings.
$72,269
73,340
43,371
39,667
35,318
-(V. 30, p. 567.)
Dayton <f■ Michigan.—Dayton, O., to Toledo, O., 141 miles. Opened in
Leased in perpetuity to the Cincinnati Hamilton & Dayton. A
preferred debenture stock takes up the bonds. A sinking fund is also
1802.
Iprovided.
Lessees
never made
The lessees
profit
mid $1,398,100
of have
the common
stock.
(V. from
29, p.operations.
15.)
The entire cost of the
change of
$186,021
4,346,125
Dee. 31, 1879
$4,532,146
__
Years.
1874-5..
18/ 5—6..
1876-7..
1877-8..
1878-9..
3,624,430'
bonds and rentals of leased roads
gauge,
heretofore kept as an asset, and
consequently included in the surplus income of past years, has been
written off the l»ookH of the company, namely, $873,809, leaving income
account surplus, Dec. 31, 1879, $3,658,337.
The following statement
includes the operations of the Delaware Lackawanna A Western proper.
Operations and earnings for five years past were as follow s:
Freight (ton)
Passenger
Years.
Miles.
Mileage. 208 11,176,135
208
208
1878.:....
Mileage.
229,499,212
12,858,752
174,610,656
8,722,409
9,336,008
168,693,921
187,819,897
208
Gross
Net
Earnings. Earnings.
$<>,282,108 $4,170,086
4,051,286 2,645,288
3,617,659 2,105,341
3,699,601 2,320,482
1879
following show’s the gross and net earnings of the company proper,
including the aggregate coal sales, for tw’elve years:
The
Net
Gross
Gross
Net
Earnings.
Earnings.
Earnings. Years.
Dayton & Union.— Dodson, O., to Union City, Ind., 32 miles.
The
$5,743,750
$22,741,521
$11,902,571
$804,696
Greenville & Miami Railroad was sold out October 30, 1872, and re¬
7,162,183
27,014,846
12,141,209
1,654,763
organized as now January 9, 1803. The company lease the section of
4,001,861
17,447,916
14,924,010
1,759,595
the Dayton & Western between Dodson and Dayton (15 miles), and cany
2,479,197
14,871,311
20,011,300
2,164,019
their traffic on 47 miles. Operated by trustees since December, 1871.
3,618,129
14,454,405
1,118,911
17,086,100
Gross earnings (1878), $107,010; operating, $68,020; net earnings,
3,810,451
19,942,290
21,660,013
1,295,488
$38,990. Paid lease, $10,000; equipment hire, $5,557, and bond inter¬
25,334,989
5,331,310
est, $28,695; total payments, $44,352. Capital stock, $80,300; funded
The mortgage for $10,000,000 authorized will take lip prior bonds to the
debt, $487,445, and other liabilities, $52,390; total, $020,135. Property amount
of $2,820,000 as they mature, and the balance is for cash re¬
account, $620,224.
sources as required.
(V. 28, p. 144; V. 29, p. 119, 225; V. 30, p..
Dayton <£- Western.—Dayton, O., to State line, Ind., 36 miles. Leased 108, 408
Years.
Earnings.
.
Subscribers will confer a great favor
Date Size, or
Par
of
of
Road. Bonds Value.
Miles
explanation of column headings, Ac., see notes
on
first page of tables.
Delaware Lackawanna d Western—( Continued)—
Lackawanna A Bloomsb., 1st mort. (extension)..
Denver d liio Grande—Stock ($30,000,000 author’d)
1st mort., gold, sinking fund
1st consol, mortgage ($15,000 per mile)
Denver South Park d Pac — 1st mort., gold, sink, fd
Des Moines d Fold Dodge—1st mortgage, coupon
Det. Gr. Haven d Mil — 1st M., guar.,(for $2,000,000)
2d mortgage, guar., (for $3,500,000)
781
60
337
291
150
88
189
189
Dollar (Oak. A Otta. RR.) bonds, Oct, 1, 1853
1st mort. (Detroit A Pontiac RR.), April 1, 1851.
3d mortgage (Detroit A Pontiac RR.), Feb. 1854.
2d mortgage, (Detroit A Pontiac RR.), Jan. 1853.
Detroit Hillsdale d S. 17.—Stock
Detroit Lansing d Noi'th.—Stock, common
Preferred stock
1st mortgage
Ionia A Lansing, 1st mort., coup., may be reg—
2d mortgage
do
do
....
do
....
65
Dibuque d Dakota—1st mort., gold, guar
Dibuque d Sioux Giiu—Stock.
1st mortgage, 1st division
1st mortgage, 2d division (for $1,400,000)
Dubuque Southwestern—1st mort., pref., sink, fd—
1st mortgage, Oct. 1, 1863
Dunkirk Allegh. Valley d Pittsburg—1st mort., gold
2d mortgage
3d mortgage
East Broad Top— 1st mortgage,
East Pennsylvania—Stock
1st
1st
registered
mortgage
Fast Tennessee Virginia d
by giving Immediate
182
59
59
55
143
100
43
55
55
90
90
90
30
36
36
270
242
Georgia—Stock
mortgage sinking fund bonds
1859
discovered In tliese .Tables#
notice of any error
west of the Denver & Rio Grande
Railroad.
Outstanding
1876
1874
1878
1878
1,000
1,000
1,000
200 Ac.
1853
500 Ac.
1851
1854
1853
1,000
1,000
1,000
-
m
187C
Bonds—Princi¬
Too
1863
1864
1863
1863
1870
1870
100
500 Ac.
1,000
1,000
1,000
100
500
500 Ac.
500
1870
1,000
1,000
1,000
1,000
1873
4,000
#
IS 70
1,000
An equal division of
the
the Leadville, Sail Juan and other Southern Colorado business from
Denver A Rio Grande, is to be made between the two companies at
Pueblo. The Atchison Topeka & Santa Fe will also receive one-quarter
of the Denver traffic with the Missouri River and eastern points.”
The Denver A Rio Grande offered to exchange each $1,000 of the
subscriptions to the Pueblo & St. Louis road securities for $1,000 in bonds
and $500 in stock of the Colorado Coal & Iron Co. The trust deed of
the consolidated mortgage is to Louis H. Meyer and John A. Stewart,
of New York, as trustees. The deed is to secure and provide for an
issue of bonds, the amount afloat at one time not to exceed $30,000,000,
of which $7,422,200 shall lie used in retiring prior issues, and $5,500,000
shall be issued at once for the purpose of building and completing the
extension to Leadville, New Mexico and San Juan mines, and other
points—565 miles of extensions are contemplated in all, and the bonds
are issued at $15,000 per mile.
The following are the latest yearly
earnings reported:
* .
Average
Gross
Net
1874-596.
New
M.
J.
M.
J.
A.
A.
M.
A.
F.
J.
Dividend.
March, 1885
York, Office.'
A N. N. Y., Bk. of Commerce.
do
do
A J.
A N. N.Y., London A Frankf’t
New York.
A J.
New York A London.
A O.
do
do
.
A O.
New York.
A N.
....
1,309,200
495,900
1,968,274
3,123,000
3*s
7
8
8
g*
31-2
7
7
7
7
7
7
7
3
7
3
7
F.
J.
J.
M.
J.
A.
J.
J.
J.
A.
J.
A.
A.
J.
J.
M.
Boston.
do
A J.
Boston, 2d Nat. Bank.
A
A
A
A
A
A
A
A
A. A
J. A
1900
May 1, 1905
June 1, 1905
1918
1918
Jan. 1, 1882
1, 1882
15,1888
1, 1882
Feb. 10*
Feb. 10, 1880
Jan. 1, 1907
*1880
A A.
A
A
A
A
A
A
i900
Nov. 1,
Jan. 1,
Jan.
Feb.
Jan.
do
do
do
A O.
A A.
A J.
Tie
200,000
500,000
1858
Stocks—Last
W’hom.
....
7 g.
7
7
6
6
5
7
7
8
7
1,000,000
50
100 Ac.
100
S.
pal,^When Due.
and by
Where Payable,
Payable
M. A
7
3,500,000
44,000
144,000
250,000
100,000
1,350,000
1,825,617
2,503,380
2,265,000
770,000
81,000
550,000
5,000,000
296,000
586,000
81,500
450,000
2,000,000
When
....
2,000,000
....
*1877
1869
1870
1879
Rate per
Cent.
$370,900
16,000,000
6,382,500
8,475.000
1,800,000
2,200,000
$100Ac.
1880
-
The Atchison Topeka & Santa
or to any other point
half way between Conejos and Santa Fe.
Fe Co. agrees not to build to Denver or Leadville,
Amount
100
500 Ac.
500 Ac.
'
Denver d liio Grande {‘3 ft.)—Denver City, Col., to Alamosa, Col., 251
miles, with branches to Canon City and coal mines, 43 miles, and El
Moro, 36 miles; total to January 1, 1880,330 miles. It is in contem¬
plation to build a branch from Animas City to Silverton.
The
trouble between the Atchison Topeka & Santa Fe line and this com¬
pany was finally settled by agreement, and a judicial decree entered
fixing it for ten years, (see V. 30, p. 143), viz.: “ The Denver A Rio Grande
is to stop the construction of its Pueblo & St. Louis line east from
Pueblo. Its extension into New Mexico is to be built only to a point
on or
[Voij. XXX
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS AND BONDS.
RAILROAD
28
do
do
J.
do
do
N.
New York.
J.
O. N.Y.,M.K. Jesup,P. A Co.
do
do
J.
do
do
J.
J. N.Y.,M.K. Jesup,P. A Co.
do
do
0.
D. N.Y., N.Y. Cent. A Hud.
do
do
O.
do
do
O.
J. Philadelp’a, Co.’s Office.
J. Phila., by P. A R. RR.
S.
Phila., P. A R. office.
O. N. Y., R. T. Wilson A Co.
J. N. Y., Gallatin Nat’l B!k
July 1, 1889
May 1, 1880
July 1, 1919
April 15,1880
1888
1894
July, 1883
Oct., 1883
June, 1890
Oct. 1, 1890
Oct. 1. 1890
July 1, 1903
Jan.
20,1880
Mar.
1, 1888
May 1, 1880
July 1, 1900
Dubuque d Sioux City.—Dubuque, Iowa, to Iowa Falls, 143 miles.
as Dubuque A Pacific in 1856.
Leased to Illinois Central from
October 1, 1867, for twenty years, the lessees agreeing to pay 35 per
cent of gross earnings for ten years and 36 per cent for next ten years,
with privilege to make the lease perpetual at the latter rate. Gross
earnings 1878, $925,228; net (after drawback to I. F. A Sioux City
Company), $394,145. Gross earnings, 1879, $927,826. Chartered
Dubuque
Southwestern.—Farley, Iowa, to Cedar Rapids, Iowa, 55
Dubuque Marion A Western. It is leased to Chicago
Paul Company, and no separate report of earnings or
miles. Formerly
Milwaukee A St.
rental is made.
Capital stock—common, $588,400;
preferred, $589,-
$548,000; and other liabilities (including overdue
coupons), $117,083; total liabilities, $1,843,083. The line is praotically
a side property belonging to lessees.
(V. 26, p. 264, 459.)
600; funded debt,
Dunkirk Allegheny
Valley d Pittsburg— Dunkirk, N. Y., to Titusville,
Pa., 91 miles. A consolidation of the Dunkirk Warren A Pittsburg and
Warren A Venango in 1872.
Is owned by New York Central A Hudson
River Company, but accounts are kept separate.
Gross earnings, 1879,
$283,132; no net earnings; deficiency, $79,889. Capital stock, $1,300,000; funded debt, $3,200,000; advance by lessee, Ac., $211,921; profit
and loss, $124,034; total liabilities, $4,816,339. Nominal cost of prop¬
erty, $4,811,423. (V. 30, p. 17.)
East
miles.
gross
Pa., 3©
In 1878
Broced Top (Pa.)—Mount Union, Pa., to Robertsdale,
A coal road, opened in 1874. The stock is $568,400.
earnings were $90,808 and net earnings
$38,122.
East Pennsylvania— Reading, Pa., to Allentown, Pa., 36 miles. It is
Earnings.
leased for 999 years from May 19, J809. to the Philadelphia A Reading
$183,516 Railroad, at
of 6 per cent per annum on the stock and interest
363,096
155,029 on the bonds.a rental
G. A. Nicolls, President, Reading.
388,846
161,602
773,322
342,676
East Tennessee Virginia d GeorgiaBristol, Tenn., to Chattanooga,
For six months ending Dee. 31,1879, gross earnings were $755,436* Tenn., 242 miles; branch line, Clemeland, Tenn., to Dalton, Ga., 30
and net earnings $396,724.
(V. 28, p. 120, 173, 427, 502, 641; V. 29, p. miles; total, 272 miles. This was a consolidation, Nov. 20, 1869, of the
40,66,301, 329,382, 407, 459, 562, 583; V. 30, p. 16. 118, 143, 248, East Tennessee A Virginia and the East Tennessee A Georgia railroads.
322, 493, 624.)
The company owns the Cincinnati Cumberland Gap A
Charleston
Railroad, and also has an interest in the Western North Carolina and
Denver South Park d Pacific (3 feet).—Denver, Col., to Leadville, Gun"
Rogersville A Jeffersonville railroads. A through route via North Caro¬
nison, Ac., 135 miles, with branch to Morrison from Bear Creek, 9 miles* lina
to the sea coast is purposed. A scheme is also broached to consoli¬
and coal mine branches in South Park. 3*2 miles; minor branches, 21e
date and make a trunk line from Norfolk to Memphis. This company
miles. Construction on Gunnison Extension, a tunnel 11,000 feet above
leases the Memphis A Charlestown Railroad for 20 years, merely paying
sea-level. Bonds issued at the rate of $12,000 per mile of finished road.
its earnings as rental, but agrees for three years from Dec. 2, 1879, to
—(V. 29, p. 511, V. 30 p. 66, 624.)
furnish funds to buy up any coupons of the M. A C. road remaining un¬
Dcs Moines d Fort Dodge — Des Moines to Fort Dodge, Iowa, 87 ft miles, paid. After the three years the lessee may surrender the lease on six
months’notice. The last annual report ws
the year endin g June 30,
Originally a division of the Des Moines & Valley Railroad, built in 1870 V. 29, p. 382, and the income account 1
and sold out in 1873.
Gross earnings in 1879 were $225,404; net,
1879, was as follows:
$84,062. Half of above bonds are incomes and depend on earnings for
>1877-78.
1878-79.
their interest. Capital stock is $1,843,100, and funded debt $2,200,000;
$1,022,250
total cost of property to present owners, $4,200,000.
$988,291
Years.
1874
1875..
Detroit
u
Miles.
Earnings.
120
120
120
3 7
$379,142
Grand Haven d Mihca'ukcc.—Detroit, Mich., to
Mich., 189 miles.
This is
a
Grand Haven
reorganization of the Detroit & Milwaukee,
which was sold in foreclosure September, 1878. This road is now- oper¬
ated as an extension of the Great Western of Canada, by which the new
bonds are guaranteed. The Detroit & Pontiac and O. & O. interest has
been paid, and those bonds may be changed into new first mortgage.
(V. 27, p. 15, 40, 67, 172, 251, 356; V. 28, p. 120.)
ires tern .—From Ypsilanti, Mich., to Banker’s,
The Detroit Hillsdale A Indiana road was sold in fore¬
closure December 28, 1874, and this company organized by the bond¬
holders. In February, 1880, a working arrangement was made with the
Toledo A Ann Arbor road.
(V. 30, p. 222.)
Detroit Hillsdale d South
Mich., 65 miles.
Detroit Lansing d Northern— Detroit, Mich., to Howard City, Mich.,
157 miles; Stanton Branch, Stanton Junction to Blanchard’s, Mich, 37
miles; Belding Branch, 1L> miles; Slaglit’s Branch, 1 Smiles; total. 197
Grand Trunk track, Detroit to
1871, of the Detroit Howell A
Lansing, the Ionia A Lansing and the Ionia Stanton A Northern Rail¬
roads, under the name of Detroit Lansing A Lake Michigan Railroad,
miles. The company also uses 4 miles of
the Junction. A consolidation, April 11,
which was sold in foreclosure December 14, 1876, and new stock issued
as above.
Gross earnings in 1878, $970,033; in 1879. $1,108,932. Net
earnings in 1878, $372,198; in 1879, $449,145.
p. 168, 271.)
(V. 28, p. 326; V. 30,
583,874
586,993
$404,417
$435,257
36,229
25,649
$368,188
$409,608
..
Interest account..
-
$368,188
$265,676
3,750
Charged to profit and loss
Dividend of 3 per cent May 1, 1879
58,872—328,298
:
W. N. C. Railroad bonds
16,030
Balance.
Interest
on
$55,920
Total surplus
percent*
percentage of total expenses to gross receipts was 61#74
against 59 per cent the previous year. Earnings for five years past
The
as
follows:
Years.
Gross
Miles.
272
272
272
272
272
272
272
272
272
Earnings.
$1,059,986
1,058,954
994,050
1,022,252
988,291
•
were
Net
Earnings.
$342,464
343,560
325,127
409,609
368,188
Dubuque d Dakota.—Waverly, Iowa, to Hampton, Iowa, 4l miles. At the annual meeting held December 4,1879, resolutions were passed
on the old grading of the Iowa Pacific.
Dubuque A Sioux City conferring authority upon the Board of Directors—first, to issue a 6 per
Company guarantee the bonds issued for construction to the extent of cent guaranteed stock in an amount not exceeding $1,000,000; or, second#
$10,000 per mile. Bonds may be paid off at any time at 105. No gen¬ to create and issue second mortgage bonds in a sum not exceeding
eral account as yet published. Bonds as above $10,000 per mile; pre¬ $1,000,000, or, third, toissue $5,000,000 of 6 per cent bonds, to be usrtin*
ferred stock $10,000 and ordinary stock $5,000; total, $25,000 per mile. retiring all outstanding bonds and for other purposes. The Pres., R- V
Will be extended eastward from Waverly to Wadena, 45 miles, and Wilson, Esq., remarks in his report: “ The earnings of the Memphis A Char¬
there join the Turkey River Branch of the Burlington Cedar Rapids A leston RR. show a deficit*on the amount required to meet its interest on
the fiscal year’s operation, ending June 30, 1879, of $70,081, aad it was
Northern Railroad.
(V. 30, p. 493.)
Built
RAILROAD
June, 1880.J
Subscriber* will confer a
great favor by giving
first page
50-’56
1856
$1,000
1,000
112
130
282
20 years)
m
Mortgage funding certificates
Eastern (N. II.)—Stock
Eastern Shore (Md.)—
^
15
1860
....
Equipment bonds
1874-956.
m
38
Eel River—Stock
Elmira Jeff. &
m
1856
1876
1879
1872
.
122
47
77
77
77
mortgage, gold
Canandaigua— Stock
Elmira <£• Williamsport—Stock, common
Preferred stock.
1st mortgage bonds
Income bonds, 999 years to run
Erie d Pittsburg—Stock
1st mortgage, convertible into consolid.
2d mortgage, convertible
Consolidated mortgage free
of State tax
Equipment bonds
;
Europ'n d N.A m.—1st M., Bang’r to Winn.,Bang’r Pn
to Winn.).
Land grant 1st mort. (2d mort. Bangor
Evansv. d Ten'e Haute.—Stock ($100,000 is pref.) ..
1st mortgage, Evansv. &
1st mort., sinking fund (Evansville to Terre II.)..
Ill., sink, fund
Rockville extension
Evanvillc Terre Haute &
Chic.—1st mort., gold
mortgage, gold
Fitchburg—Stock
Bonds, coupons, ($4,000,000
2d
„•
I860
1863
194,400
13,267,774
492,500
400,000
1869
1869
1,000
1852
1,000
1,000
1860
1870
1873
69,453,812
68,502,002
35,687,333
34,224,383
39,099,659
39,116,073
44,996,094
11887744--569659'.
5, 6 A 7
1880 to 1886
May 1, 1886
Sopt., 1906
15,1880
1, 1900
5, 1880
May 1, 1885
Mar. 1, 1902
Sept., 1879
May, 1880
Jan., 1880
Jan. 1, 1910
Oct. 1, 2862
Mar. 10, 1880
July 1, 1882
April 1, 18S0
July 1, 1898
Oct. 1, 1890
Jan. 1, 1894
Mar. 1, 1899
May 15, 1880
Jan. 1, 1887
Nov. 1, 1*887
Aug. 1, 1880
May 1, 1900
Jan. 1, 1903
July 1, 1880
June
Jan.
Mar.
Philadelphia.
by Treasurer.
Boston,
New York.
Baltimore, N. Cent. RR.
M. A N. Phila., Penn. R. R. Co.
Sept.
do
do
do
do
do
do
Dividend.
July 15. 1873
Sept. 15,1886
Boston, by Treasurer.
M. A. S.
Stocks—Last
Q.-M. N. Y., Union Trust Co.
do
do
J. A J.
do
do
A. A O.
do
do
J. A J.
do
do
A. A O.
Boston.
J. A J.
M. A 8. New York and Boston.
M. A N.
Company’s Office.
J. A J. N.Y.,Farm. L'anA T.Co.
do
do
M. A N.
do
do
F. A A.
M. A N. N.Y.,Farm.L’an A T.Co.
do
do
J. A J.
Boston, Office.
J. A J.
do
Apr. 1,’94
A. A O.
A’98
for 999 years from May 1,
since January 1, 1880.
cent and on the
preferred
Central returns.
included in the Northern
Girard, Pa., 81 miles; branch:
84 miles. Road opened in
Railroad for 999 years from
stock and interest on the
bonds, and the lease was transferred to the Pennsylvania Company.
From Girard to Erie, 15 miles, the track of the Lake Shore & Michigan
Southern is used. The lease has been quite unprofitable to the lessees;
in 1878 the deficiency paid b3r them was $217,437, and in 1879
$232,653. Wm. L. Scott is President, Erie, Pa. (V. 28, p. 377.)
European d North American.—Bangor, Me., to Vanceboro (State line),
Me., 114 miles. Road opened in 1871, and worked in connection with the
European & North American Railway of New Brunswick and consoli¬
dated with that line Dec. 1,1872, making an unbroken line from Bangor,
Me., to St. John, N. B>, 205 miles. In 1875 default was made, and the
main division went into the hands of trustees of the land-grant mort¬
gage Oct. 2, 1876. The company had a land grant of 750,000 acres in
the State of Maine. In the year ending Sept. 30, 1878, the gross earn¬
ings were $356,858 and not earnings $126,507. (V. 27, p. 148, 251,
Erie d Pittsburg.—New Castle, Pa., to
Dock Junction to Erie Docks, 3 miles; total,
1865. It was leased to the Pennsylvania
March 1,1870, at a rental of 7 per cent on
line, 41 miles;
H„ 16 miles;
Newburyport City Railroad, 3 miles; Portland Saco & Portsmouth 51
miles; Portsmouth & Dover, 11 miles; Portsmouth Great Falls & Con¬
way, 71 miles; Wolfeboro Railroad, 12 miles; total leased lines, 154
miles; total operated, 283 miles. This company was formerly a prosper¬
ous road, paying dividends, but in 1872-74 began the policy of leasing
other roads and heavily increasing its interest and rental obligations.
The company became embarrassed in 1875 and compromised with its
bondholders by the issue of a general mortgage to fund all the prior noniportgage debts, the new bonds to bear 3*2 per cent for three years from
1876, then 4^ per cent until September, 1882, and 6 per cent thereafter.
The last annual report was published in V. 29, p. 629. Operations and
75,201,867
1,000,000
do
do
Boston.
do
Boston and London.
J.
S.
8.
D.
J.
Q-M.
Quar.
—(V. 28, p. 253.)
Eastern, Mass.—Boston, Mass., to New Hampshire State
branches, 77 miles; leased lines: Eastern Railroad of N.
Gross
A
A
A
A
A
Y.,R. T. Wilson A Co.
and leased to the Northern Central Railway
1863, at a rental of $155,000 per annum
The dividends on the common stock are 5 per
7 per cent. Operations are
382; V. 30, p. 507.)
earnings for five years past were as follows:
Freight (ton)
Passenger
Years.
Miles.
Mileage.
Mileage.
4,500,000
7
7
7
7 g.
7 g.
3
325,000
1,000
Virginia A Georgia
to supply this
deficiency for a term of three years from the date of the proposed
amendments to the lease. Under the provision of these amendments,
the coupons of the Memphis A Charleston Railroad Company are to be
bought and held by the East Tennessee Virginia & Georgia Railroad
Co. as a subsisting lien and due indebtedness against the Memphis A
Charleston Railroad Company. It will be optional with the East Ten¬
nessee Virginia A Georgia Railroad Company, after three years, to elect
whether it will continue to buy the coupons or surrender the lease.
As to the probable deficit which may from time to time occur in the net
proceeds of the Memphis A Charleston Railroad, required to meet its
annual interest, it is proper to state that it is hoped that these will not
be very large—that is, if only the ordinary wear and tear of the road is
replaced; but if it is the intention of your company to keep the property
for the full term of the lease—say for eighteen years from the first of
July last—it is believed that it would be a wise policy to restore the
physical condition of the Memphis A Charleston Railroad more rapidljr
than its earnings will provide for, by making temporary advances to
that company, as you have a right to, under the lease.” (V. 29, p.
212
281,000
611,000
125,500
775,000
1,000
1,000
of the former company. And the East Tennessee
Railroad Company takes an engagement upon itself
1%
1,120,500
Whom.
J. A J.
J. A J.
A. A O.
7
7
7
7
6
6 g.
685,000
1,000,000
2,000,000
500 Ac.
J.
M.
M.
J.
J.
pal, When Due.
Payable, and by
Payable
6
5
92,300
Where
When
2*2
3^2
2,194,000
1,000
would be made in the x>ayment of its coupons,
unless your company advanced the money. Such default would have
put it into the hands of the past-due coupon holders to obtain a receiver¬
ship for that road, which would in effect annul the lease under which
you are now operating it.” * ** * “The necessary advances were made
and the coupons purchased, which advances, it is believed, will be
returned to you by the first of next January from the net earnings of the
road.” In reference to the amended lease he says: “The proposed
amendments withdraw from the Memphis A Charleston Railroad Com¬
pany the right of canceling the lease so long as the East Tennessee
Virginia A Georgia Railroad Company will supply any deficit in net
earnings which may be necessary to meet the interest upon the coupons
6
2
7
6 g.
5
1,998,400
290,700
100
’74-7-9
2*4
500,000
500,000
500,000
1,000,000
570,000
50
1854
4’2g.
2,778,800
118,000
1,200,000
500
50
100 Ac.
100 Ac
quite clear that default
282
282
282
282
282
discovered In these Tables.
Bonds—Princi¬
J. A J. N.
M. A N.
6
6
4
3
6
4,997,600
1,000
56
58
131
51
109
23
55
55
189
Cent.
147,000
190,000
1,000
1862
1865
1868
Rate per
$862,400
100
100 Ac.
500 Ac.
100
100 Ac.
100
81*2
81*2
81*2
authorized)
Outstanding
100
50
50
ioo
mort
Amount
Par
Value.
East Tennessee Virginia d Georgia—(Continued)—
East Tenn. & Georgia ($92,000 arc endorsed) ...
East Tennessee and Virginia (endorsed)
Elizabethtown Lex.&Big Sandy— 1st
Size, or
of
Road. Bonds
of
of tables.
2d mortgage to U. S. Government
Eastern (Mass.)— Stock
Essex RR.lst mort. (extended for
Immediate notice of any error
Date
Miles
explanation of column headip;
on
.
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
29
STOCKS AND BONDS.
Net
Earnings. Revenue.*
$2,766,357 $757,419
2,412,140
683,594
2,451,323
799,317
2,422,394
871,810
2,485,977
994,785
628; V. 29, p. 357.)
*
Evansville & Terre Haute.—Evansville, Ind., to
miles; Rockville extension—Terre Haute Ind.,
miles; total, 131 miles. This was formerly the
ville Railroad, and took the present name April
Terre Haute, Ind., 109
to Rockville, Ind., 22
Evansville & Crawfords1, 1877. The company
has done a very fair business and has paid semi-annual dividends since
1877. Of the stock, $100,000 is preferred; shares $100, rate 7 per cent,
payable March and September. The last annual report was published in.
the Chronicle (V. 29, p. 488) for the year ending August 31, 1879, as
follows:
mail, Ac
18,210
17,604
$584,703
Kents
Total
Expenses
Net earnings
The income account
Net earnings
$165,364
378,162
21,282
$156,904
380,718
29,536
Freight
Express,
1877-78.
1878-79.
Earnings—
Gross
Passengers
for 1878-9 was
Interest on bonds and loans
Dividends, 5 per cent ..A
Payment on cars bought
Balance, surplus
The surplus was spent
$583,019
403,909
404,270
$180,854
$178,748
briefly as follows:
1
.---
$80,599
$180,854
50,860
25,561-^-157,021
in building the
$23,832
Owensville Branch. (V. 29, p.
459,488.)
Evansville Terre Haute d Chicago—Terre Haute, Ind., to Danville, Ill.,
61,706,681
55 miles.
65,403,019
Road was opened December, 1871. It uses 6 miles of the
track of the Rockville Extension into Terre Haute; also leases the
Including other receipts.
Indiana Block Coal road, 14 miles. In May, 1880, a lease to the Chicago
—(V. 29, p. 537, 629; V. 30, p. 144.)
Eastern (.V. 77.)—Massachusetts State line to Maine Staff) line, 16 miles. A Eastern Illinois was made; terms, $75,000 per annum and the as¬
It was formerly leased for 99 years to the E:istcrn (Mass.) Railroad, sumption by the C. & E. I. of all rentals and taxes paid by E. T. H. A G.
but lessee failed, and a new lease was made from October I, 1878, for For the year ending April 30, 1879, the net earnings were $94,236. The
60 years and two months at $22,500 per year, equal to 4*2 per cent per stock is $458,661. Earnings for five years past were as follows:
Years.
Miles. Gross Earnings. Net Earnings.
annum.
Moody Currier, President, Manchester, N. H.
55
$229,097
$110,907
Eastern Shore (Md.)—Delmar to Chrisfleld, Md., 38 miles. The road
J
235,899
114,507
55
was sold in foreclosure February 19. 1879, subject to the first mortgage.
*
passed Legislature of
road. Stock,
Preferred
George R. Dennis,President, Kingsland, Md. Act
Md., and signed by Governor (April, 1880,) to reorganize
$450,000 (partly com. and partly pref.), in shares of $25.
to receive 6 per
cent dividend before any
Eel River— Logansport.,
is paid on common.
miles. This was
Ind., to Butler, Ind., 94
sold under foreclos¬
10, 1877.
earnings were $206,855 and net earnings $67,842. In
August, 1879, it was leased to the Wabash St. Louis & Pacific Railroad,
at a rental of 3 per cent per annum on the stock for two years, 4 per
cent for three years, and 4*2 per cent thereafter. (V. 28, p. 276; V. 29,
formerly the Detroit Eel River & Illinois Railroad,
ure July 6, 1877; and reorganized under present
In 1878 gross
p.
226.)
Elizabethtoirn Lexington &
Big
name Dec.
Sandy.—Completed road: Lexington,
222,782
98,233
209,673
77,224
242.896
94,236
—Josephus Collett, President, Terre Haute, Ind. (V. 30, p. 221, 298.)
Fitchburg.—Boston, Mass., to Fitchburg, Mass, (double track), 50 miles;
Branches: Charlestown, lniile; Watertown, North Cambridge to Waltham, 7 miles; Lancaster & Sterling, South Acton to Marlborough, 12
miles; Peterborough & Shirley, Ayer, Mass., to Greenville, N. H., 24 niiles.
Leased and operated: Vermont & Mass. RR—Fitchburg to Greenfield*
56 niiles; Tinners Falls Branch , 3 miles; Troy A Greenfield RailroadGreenfield to North Adams, 37 miles; total, 190 miles. The Troy Sc
Greenfield Railroad and the Hoosae Tunnel, owned by the State of Mas¬
sachusetts, have been operated by this company.— (S«e V. 29, p. 41, 67.55
55
55
and earn¬
Passenger Freight (ton)
Net
Gross
Div.
Mileage.
Mileage.
Earnings. Revenue, p.ot.
Miles
Years.
8
152 31,992,341 22,031,844 $1,720,524 $306,139
1,859,455 321,812
8
152 29,537,753 41,692,039
1,920,413 342,179
6
152 30,690,340 53,224,939
1,926,621 347,020
6
152 32,266,503 68,041,193
2,079,973 379,212
G
152 35,094,145 92,832.640
Elmira d Williamsport.—Williamsport, Pa., to Elmira, N. Y., 77 miles.
(V. 28, p. 17, 526; V. 29, p. 41, 67, 537; V. 30, p. 420
This company was reorganized under the present name Feb. 29, 1860
Ky., to Mount sterling, Ky., 34 miles. This road is intended to be a con¬
nection of the Chesapeake & Ohio. The stock is $200,000. See V. 29,
p. 66.
Elmira Jefferson d Canandaigua.—Canandaigua, N. Y., to Jefferson,
N. Y., 47 miles. The road was foreclosed and reorganized under present
name Feb. 18, 1859.
It was leased to New York A Erie for 20 years
from Jan. 1, 1859, and the lease transferred to Northern Central Rail¬
road in 1866. Rental, $25,000 per year.
In 1878-9 net income above rentals was
ings for five years past were as follows:
$279,740. Operations
RAILROAD
80
Subscribers will confer
a
on
of column headings, Ac.,
see
first page of tables.
note*
Flint d Pere Marquette—Consol, mort.,sinking fund
781
1st mort., land grant, 3d series
•
Flint A Holly RR. (sink’g fund $25,000 per year).
Bay City, E. Saginaw, 1st mort., guar by lessees.
Bay County, issued in aid, guar, by lessees
Date
Miles
of
of
Bonds
Road.
1872
1868
1868
1867
283
190
17
13
or
Par
Value.
$....
Outstanding
1871
1877
1869
1870
1873
1870
65
59
Flushing North Shore d Cent.—1st mort. (FI. A N. S.)
2d mortgage (FI. A N. S.)
Central of L:.L, Extension 1st mortgage
;.
Fonda Johnstown d Glovcrsville—1st mortgage
Fort Wayne d Jackson—Pref. stock, 8 per cent
Common stock
Fort Wayne Muncie d Cincinnati— 1st mort., gold...
2d mortgage
Equipment mortgage
Framingham d Loicell—1st mortgage bonds
Frankfort d Kokomo— 1st mortgage, gold
Frederick d Pennsylvania Line—1st mortgage
Fremont Elkhorn d Mo. Valley—1st mortgage
Galveston Harrisb.d S. Antonio—1st mort, gold, 1.
gr.
2d mortgage
Galveston Houston d Hend. o f 1871—1st mort
Geneva Ithaca d• Sayre— 1st mort., s. f., gold
Georgia Railroad d Banking Co.—Stock
10
100
100
109
109
109
26
26
28
51
215
215
50
35
307
'
300,500
100,000
500 Ac.
1,000
500 Ac.
100 Ac.
1,000
1,000
1,000
1,000
1*871
1877
1880
Grand Haven (Mich.)—Receiver’s certificates
309,000
800,000
400,000
200,000
300,000
2,000,000
700,000
1,800,000
500,000
345,000
500,000
200,000
500,000
690,000
4,300,000
1,000,000
1,493,000
600,000
4,200,000
425,000
1,000,000
1869
1871
1871
1871
1879
Bonds, not mortgage
.-
1,000,000
1,000
....
1,000
1,000
1,000
106
....
Flint d Pere Marquette—Monroe, Mich., to Luddington, Mich., 253
miles; branches: Bay City to East Saginaw, 12 miles; Flint to Otter
Lake, 15 miles; total, 280 miles. The company was consolidated June
4th, 1872, with the Bay City A East Saginaw, the Holly Wayne A Mon¬
roe, and the Cass & Flint River railroads.
Road was opened Decem¬
ber, 1874. The company made default on the consolidated bonds, Novem¬
ber, 1875, and part of them were funded. A receiver was appointed in
June, 187b, and reorganization will be effected after sale and preferred
stock issued for the consolidated mortgage bonds, and common stock
issued for the old stock of $3,298,300—see V. 30, p. 91,117. Decree of
sale was made June 12, 1880. The gross earnings for six months ending
Dec. 31, 1879, were $629,817; same time 1878, $566,370; increase,
$63,447. During 1879 the land department disposed of 38,642 acres
of land at an average per acre of $19 23, the total amount received on
sales account being $743,803 70. Operations were larger than during
any year since 1871, leaving 188,929 acres unsold Dec. 31, 1879.
Earnings for five years past were as follows :
Years.
Miles.
Gross Earnings. Net Earnings.
283
283
283
280
280
$1,055,053
1,000,368
997,965
1,056,017
$358,598
366,074
416,679
438,202
1,141,569
—(V. 28, p. 69, 146, 223, 525, 599; Y. 29, p. 17, 225, 621; V. 30, p. 91,
117, 518, 648.)
Florida Central.—Jacksonville, Fla., to Lake City, Fla., 59 miles. In
March, 1868, the old road was sold by the trustees (the Florida Atlantic
& Gulf) and this company organized July, 1868. The gross earnings in
1877-8 were $163,892; net earnings, $41,319. The road was ordered
sold September 15, 1879, to
satisfy a claim for $197,000, and 9 years’
interest, made by foreign holders or State bonds issued in exchange for
bonds of this company. E. M. L’Engle, president, Jacksonville, Fla.
—(V. 28, p. 599.)
Flushing North Shore d Central.—The mileage was formerly as follows:
Hunter’s Point, N. Y., to Babylon, N. Y., 34 miles; branches-^ Woodside to
Flushing, 4 miles; Wliitestone Junction to Wliitestone, 4 miles; Flushing
to Great Neck, 7 miles; Garden City to Hempstead, 1 mile; Bethpage Junc¬
tion to Bethpage, 2 miles; total, 52 miles. This was a consolidation Aug.
1, 1874, of the Flushing A North Hide RR., the Central of L. I., the North
Shore and other minor roads. In May, 1876, they were leased to the
Long Island RR., which failed to pay the rental, but the operations are
included in that company’s returns. Home of the mortgages have been
foreclosed, and the whole concern is in a transition state, and will be
until the litigation is finished up.
The paid-up stock was $814,925.
There were in addition to the above, $125,000 New York A Flushing
Railroad 7s, $149,000 North Shore 7s, and $93,000 Wliitestone & West¬
chester 7s. Central of Long Island first mortgage foreclosed and road
sold August, 1879.
(V. 27, p. 677; V. 29, p. 17, 196, 407.)
Fonda Johnstown d Glovcrsville.—Fonda, N. Y., to Glovcrsville, N. Y.,
10 miles; leased, Gloversville A Northville Railroad, Glovcrsville to
Northville, 16 miles; total, 26 miles. Road opened December 1,1870.
The stock is $300,000. Net earnings in 1877-8 were $40,383:
in
1876-7, $45,066; in 1875-6, $41,835; in 1874-5, $31,869. W. J. Heacock, president, Gloversville, N. Y.
,
Fort Wayne d Jackson—Jackson, Mich., to Fort Wayne, Ind, 100
miles. This road is successor to the Fort
Wayne Jackson & Haginaw,
which made default on its bonds and was sold in foreclosure Dec.
3,
1879. The 8 per cent preferred stock was issued in place of the old first
mortgage fionds .and interest, and the common stock in place of the old
Becoud mortgage bonds. (V. 28, p. 199,300; V. 29, p. 301,631;
V.30,p.43.)
Fort Wayne Muncie d- Cincihnati.—Fort Wayne, Ind., to
Connorsville,
Ind., 109 miles. Opened in 1870. The company defaulted and a receiv¬
er was appointed Nov., 1874.
The bondholders are preparing to foreclose
and reorganize. Elijah Smith, president, Boston, Mass. (V. 30, p. 192.)
Framingham d Lowell.—South Framingham, Mass., to Lowell, Mass.,
26_miles. Road opened Oct.: 1, 1871, and was leased from April 1,
1871, to Boston Clinton Fitchburg A New Bedford Railroad Co., and
since Feb. 1, 1879, operated by Old Colour Railroad Co. On Feb. 14,
1880, a lease of the road to B. C. F. & N. B. Co. for 998 years and 4
months, from Oct. 1, 1879, was ratified. The stock is $512,096, and
there are $250,000 8 per cent notes.
Negotiations in progress for reduc¬
ing interest on 1st mortgage to 5 per ct. and for canceling the 8 per ct.
notes and issuing preferred stock for them.
(V. 30, p. 192, 408, 493.)
Frankfort d Kokomo.—Frankfort, Ind., te
Road opened August 10, 1874. Capital stock,
this company’s bonds, amounting to
1875-690
Ac.
100
500
1,000
1,000
Kokomo, Ind., 26 miles.
$600,000. In May, 1879,
$200,000, and stock, amounting to
$600,000, were placed on the New York Board list. The road connects
the Chicago division of the Pan Handle road and the
Indianapolis Peru
& Chicago road with the Lafayette Muncie A Bloomington Railroad and
the Logansport Crawfordsville A Southwestern Railroad.
For four
years and five mouths to December 31, 1878, the gross earnings were
$171,234 and net earnings $91,595. In 1879 gross earnings were
$40,896, and net earnings, $22,630.
Coe Adams, President, N. Y. City.
Frederick ct- Pennsylvania Line— Kingsdale to Frederick
City, Md.. 28
miles. It is leased to Pennsylvania
Railroad, which pays over the net
10
10
10
8
8
7 g.
77
7
'
75,000
41,405
1,000
....
1871
1878
1872
1870
8
8
1,880,000
500 Ac.
500 Ac.
1,000
Rate per When Whtre
Cent.
Pajrable
$4,470,000
1,000
.
Holly Wayne A Monroe, 1st mort., sinking fund.
Amount
500
Florida Central— 1st mortgage, gold, coupon
do
do
[Vol. XXX.
Bonds—Princi¬
INTEREHT OR DIVIDENDS.
Hizc,
Construction bonds
do
do
BONDS.
great favor by giving Immediate notice of any error discovered In these Tables*
DESCRIPTION.
For explanation
AND
STOCKS
7
2
7 g.
8
8
7
'
7
7
7
'
6 g.
7
7 g.
7 g.
3 hs
7
6
<5
156,000
160.000
M.
M.
M.
J.
M.
J.
J.
J.
M.
M.
M.
J.
pal,When Due.
Stocks—Last
Payable, and by
Whom.
A N. N.Y., Mercli’nts’Ex.B’k.
A 8. N. Y., Meehan. Nat. B’k.
A N.
do
do
A J. Newark. N. J., Sav: Ins.
A 8.
New York.
A J.
New' York.
A J. N. Y., Mech. Nat. Bank.
A J. N.Y., Farm. L. A Tr. Co.
A N. N.Y., Chatham Nat. Bk.
do
A N.
do
A N.
do
do
A J. N. Y., St. Nich. Nat. B’k.
Dividend.
May, 1902
Sept.
May
July
Sept.
1,
1.
1,
1,
Jan. 1,
A.
A.
J.
A.
J.
A
A
A
A
A
A.
F.
J.
J.
J.
J.
J.
J.
J.
A
A
A
A
A
A
A
A
A
O.
O.
1, 1901
Jan.
1, 1907
May 1, 1889
May 1, 1903
July 1, 1900
Mar. 25,1880
Oct., 1889
April, 1896
July, 1881
April 1, 1891
Jan. 1, 1908
Boston, Ottiee.
do
do
Boston.
New Y'ork.
J.
O.
J.
1887
1876
Jan.
'
....
1888
1888
1882
0.
Boston and London.
do
D.
J. N. Y.t F. P. James A Co.
J. N. Y., Metrop. Nat. B’k.
D. Augusta,Ga., RR. Bank.
do
do
J.
do
do
J.
do
do
J.
1901
Feb. 1, 1910
June 1, 1895
A.
July 1, 1902
July 1, 1890
July 15, 1880
Yearly to 1890
July 1, 1897
Jan. 1, 1890
earnings, which have amounted to very little. Stock, $312,528. John
Loats, President, Frederick City, Md.
Fremont Elkhorn d Missouri Valley.—Fremont
to Wisner, Neb.,
51 miles.
Leased temporarily to Sioux City. A Pacific Railroad. The
rental is 3313 per cent of gross earnings. Stock, $690,000. P. H. Crowell,
President, Jjjast Dennis, Mass.
Galveston Harrisburg d: San Antonio.—Harrisburg, Tex., to Han An¬
tonio, Tex., 215 miles. This was a successor to the.Buffalo Bayou Brazos
& Colorado Railway. The road was opened to Han Antonio
1877.
The gross earnings in 1878 were $1,325,845; net
March 1,
earnings,
$792,014. The capital stock is $6,450,000, of which $4,638,794 is paid
in and $1,811,205 is represented by lands and bonds. The bills payable
December 31, 1878, were $373,379, including $250,000 due T. W. Peirce,
and the debt due the School Fund of Texas was
$386,627. The first mort¬
the property and about 1,500,000 acres of hand.
The
proceeds of land sales are used to retire the bonds, and a sinking fund of
1 percent begins in 1880. The land grant is sixteen sections (10,240
acres) per mile. T. W. Peirce, President, Boston, Mass. (V. 30, p. 144.)
gage
covers
Galveston Houston d Henderson of
1871.—Galveston, Texas, to
Houston. Tex., 50 miles. The road was opened in 1853-4 and sold in fore¬
closure Dec. 1,1871, and reorganized. Mortgage debt at date of sale was
$5,750,000. Some of the coupons remained unpaid in the hands of parties
interested in the road, and in 1879 a foreclosure suit was threatened by
N. A. Cowdrey, one of the trustees of the mortgage, but a second mort¬
gage will be issued to settle all unpaid claims.
In February, 1880, Mr.
Israel Corse, of New York, was elected president. The stock is $1,000,-
000, of which about one-third is owned by the International A Great
North’11 RR. Operations and earnings for five years past were as follows:
Freight (ton)
Gross
Net
Passenger
Mileage.
Mileage.
Earnings.
$554,673
2,618,496
2,714,660
9,776,631
582,413
7,657,001
452,975
2,833,187
8,430,962
2,213,944
495,440
9,928,275
2,416,653
536.847
—(V. 28, p. 146, 172; V. 30, p. 43,192.)
Years.
1875..
1876..
1877..
1878..
1879..
Geneva Ithaca
.
d*
Earnings.
Expenses.
$384,183
402,198
$170,490
180,214
148,872
205,055
229,560
304,103
290,385
307,286
Sayre.—Geneva, N. Y., to Sayre, Pa., 76 miles.
Or¬
as successor of the Geneva Ithaca A Athens RR.,
which had been formed by consolidation of the Geneva A Ithaca and
A
Athens
Ithaca
railroads, May 25, 1874. In 1880 absorbed the Cayuga
A Houth. RR., 37 miles. The G. I. A A. having defaulted on its interest
ganized Oct. 2, 1876,
placed-in the hands of a receiver, March 4,1875, and the road was
sold in foreclosure. Sept. 2, 1876, and this company organized in the in¬
terest of the Lehigh Val. RR. The stock is $850,000 com., and also pref.
stock of $850,000 is authorized. Gross earnings, 1877-8, were $264,995;
was
$281,134; deficit, $16,138. R. A. Packer is President, Hayre, Pa.
Gtftrgia Railroad d Banking Company.—Augusta, Ga., to Atlanta, Ga.,
171 miles; branches to Washington and Athens, 60 miles; total, 231
miles. The Western Railroad of Alabama, purchased in May, 1875, at
expenses,
foreclosure, is owned jointly with the Central Railroad of Georgia. The
Macon A Augusta Railroad, 76 miles, is owned by this company, and its
earnings are now (1880) included in its operations. The Port Royal A
Augusta Railroad is owned one-fifth by this company.
In February,
1880, a contract was made including this road and the Central of Georgia
to be worked in close connection with the Louisville A Nashville system.
The annual report for the fiscal year ending March 31, 1880, was pub¬
lished in the Chronicle, V. 30. p. 542.
The following table exhibits the operations,
of the road for 1878-9 and 1879-80:
receipts and net earnings
STATEMENT OF EARNIXG8 AND EXPENSES FOR THE YE AR ENDING MARCH
1879.
$997,718
Total earnings
Total expenditures
$1,169,524
766,448
$403,075
659,325
$338,392
Net
earnings
includ’g interest A dividends $506,522
Payments—
Paid dividends
$252,000
Paid interest on bonds this company
82,235
Total receipts,
Paid interest on bonds M. A A. RR
Paid interest on bonds W. RR. of Alabama.
Paid taxes, legal and incidentals
$607,919
H
■>
‘
*
83,260
17,645
122,264
Balance, surplus
Years.
Gross
Earnings.
$1,194,324
1,143,128
1,013,712
$252,000
93,530
39,220
51,777
93,080
23,305
4.124
Total
$506,522
Earnings for five years past were as follows:
31.
1880.
‘
$607,919'
Div.
Net Earnings.
$552,646
500,018
286,012
338,393
p.c.
8
7
3kJ
6
1,169,524
403,075
6
-(V. 28, p. 501; V. 30, p. 434, 542.)
Grand Haven.—Allegan to Muskegon, Mich., 58 miles. The Michigan
Lake Shore road was sold in foreclosure June 19,1878, and this company
organized Oct. 18, 1878. The stock is $800,000. James W. Converse,
President, Boston, Mass.
997,719
Subscribers will confer
a
For explanation of column
first page
Date
of
Road. Bonds
Miles
of
headings, Ac., see note
of tables.
332
332
332
332
35
46
781
Rapids Newaygo t£ Lake Sh.—1st mort. coup.
2d mortgage coup
Grand Trunk (Canada)—Consolidated
New stock for
Size, or
1869
1875
1,000
1875
500 Ac.
£25
£100
4,000,000
3,013,000
987,000
576,000
200,000
£3,486,787
2,582,000
3,111,500
Canadian debentures
Equipment mort., 1st on all rolling stock—
do
2d
do
into 1st pref. stock
do
1st pref. bonds, conv.
do
2d
2d
do
do
3d
do
conv
Chic. A Gr. Trunk RR. ,1st mort. (for
discovered In these Tables*
m
m
0
....
,
m
m
m
•
•
*
•
m
m
m
m
m
m
m
•
•
•
•
•
•
•
•
m
500,000
....
m
18956874-596781
£1,240,000)
Debentures
New bonilR, coupon
Green Ray d; JIinnesota—1st mortgage, gold
Greenville <£ Columbia— 1st mort.,guar.by State
Bonds not guaranteed (various small issues)
1
.
Gulf Colorado J* Santa Fe—Stock
..
r-30
1879
350
350
145
214
143
m
m
£20b
n
-
m
£100
m
’58-’79
1871-2
1870
m
m
+
£100
Various
—
....
Hannibal d- St. Joseph—Common stock
Preferred stock (7 p. c. yearly, not cumulative)...
Missouri State loan
Bonds 1870, convertible
Bonds, secured by $2,500,000 I’d notes
1st mortgage (Quincy A Palmyra RR;
1st mortgage (Kansas City A Cam. RR.)
....
495%
Great Western (Canada)—Common stock...-.
Preferred 5 per cent, convertible into common...
....
....
$100
292
100
206
292
1853-7
1870
1878
15
53
1,000
1,000
1867
Grand Rapids d Indiana.—Fort Wayne, Ind., to Petoskey, Midi., 332
miles; leased and operated; Cincinnati Richmond A Fort Wayne Rail¬
road, 92 miles; Allegan A Southeastern Railroad, 13 miles; Traverse
City Railroad, 26 miles; total, 463 miles. This road was opened in May,
1874. For the terms of the lease of Cin. Rich. A Fort Wayne Railroadsee that company in this Supplement.
The Grand Rap. A Ind. RR. is
Cent.
Where Payable,
When
Whom.
Payable
and by
J. A J. N. Y., Winslow, L. A Co.
do
A. A O.
do
do
do
M. A S.
N. Y. Union Trust Co.
J. A J.
do
do
J. A D.
7 g.
7 g.
7
8
7
Stocks—Last
Dividend.
1899
1899
1906
July 1, 1891
June 1,1905
7,500,000
1875
....
Rate per
$5,000,000
1871
1873
of 1874)....
Outstanding
$100
1,000
1,000
1,000
1,273
stock
Amount
Par
Value.
1869
£10,000,000
rebenture stock for £8,000,000 (act
31
BONDS.
INTEREST OR DIVIDENDS.
Grand Rapids d: Indiana—Stock
1st mor£., land grant, gold (guar, by Pa. RR;
1st mort., gold, ($2,00.1,000 are land grant)
Income mortgage bonds, for $10,000,000
Grand
AND
great favor by giving Immediate notice of any error
DESCRIPTION.
on
STOCKS
RAILROAD
June, 1880.]
500,000
3,218,149
2,327,808
7,166,910
500,000
£6,037,991
505,753
2,125,830
1.000.000
$3,200,000
1,413,071
642,192
10,000 p.m.
9,168.700
5,083,024
3,000,000
4,000,000
442,000
433,000
1,200,000
'
%
....
....
5
A O. London, at Co.’s Office.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A. A O.
London A Montreal.
do
do
A. A O.
J. A J. London Joint Stock B’k.
6
7 g.
J. A D.
F. A. A.
6
6
5
5
4
6
A.
J.
J.
J.
J.
g
g.
g
g
S’
Irredeemable.
Irredeemable.
Irredeemable.
1900
....
5-16
2b
7
April, 1877
Jun., 1920
"
do
do
New York.
Columbia, Co.’s Office.
Perpetual.
Dec., 1890
Aug. 1, 1900
1881 to 1886
do
do
....
....
(I)
(0
Au*?., 1870’
7
6
8
7 ‘
y
10
J.
M.
J.
F.
J.
A J. N. Y., B’k. No. America.
do
A 8.
do
A J. N. Y., Farm. L. A T. Co.
A A. N. Y., B’k. No. America.
do
"
do
A J.
1884-1887
Mar., 1885
1888
Jan., 1892
Jan., 1892
Jan. 1,
£10,000 5 per cent perpetual debenture stock was issued. The amount
capital account on January 31, 1880, was £7,932. The
charges to capital account in the half-year amount to £10,OOL Earnings
for live years past were us follows:
at the debit of
Div. p. c.
Net
Gross
Miles.
Years.
1871-5
1875-6
1870-7
1877-8
1878-9
Earnings.
Earnings.
Pref.
£893,339
830,857
772,143
860,935
759.171
£134,614
5
operated in the interest of the Pennsylvania IiR. Co., and $4,000,000 of
177,525
5
511
tne first mortgage bonds are guaranteed by that company, which buys
183,841
5
511
the coupons each year that remain unpaid by the earnings, and on Jan.
277,079
5
527
1, 1880, held $1,862,170 unpaid coupons. First mortgage bonds
222,953
redeemed by the sinking fund are replaced by income bonds issued.
V. 30, p. 464, 544.)
The company had land grants amounting to 852,960 acres, and sold MV. 28, p. 474; V. 29, p. 146, 252, 329, 357, 458;
in 1879 30,922 acres, for $359,007. Operations and earnings for live
Green Ray d- Minnesota.—Green Bay, Wis., to Winona, Minn., 214
years past were as follows;
miles. Road opened December, 1873. The company also uses the track
Passenger
Freight (ton)
Gross
Net
from Winona to La Crosse, 29 miles, under lease, making 243 miles
Mileage.
Mileage.
Years.
Miles.
Earnings. Earnings.
There are also 2d mort.'bonds, $779,000, 8 per cents, due Nov.
332
13,907,593
35,764,557 $1,143,741
$267,108 operated.
1, 1893, The company made default and was placed in the hands of a
1,137,539
316,507 receiver, and the road was to be sold April 3,1880, but sale was indefi¬
332
14,448,942
33,713,086
332
13,863,997
35,633,459
1,097,107
348,745 nitely postponed—(see Chronicle, V.-28, p. 401, which gives details as
1878......... 332
1,200,629
242,458 to the holders of bonds, Ac. For the year ending September 30, 1879,
15,184,660
42,437,701
1879
332
17,823,880
51.267,197
1,345,134
432,645 total income was $348,690; net income. $145,933; rentals, $20,266;
—(V. 29, p. 146, 299; V. 30, p. 91, 463, 649.)
balance, $124,444; capital stock, $7,995,900; amount of unfunded and
Grand Rapids Newaygo d- Lake Shore.—Grand Rapids to White floating debt, $1,710,616; aggregate of capital stock, funded and unCloud, Mich., 46 miles. Extension projected to Flint & Pere Marquette funden debt, $13,686,376. E. F. Hatfield* Jr., is president, N. Y. City.
Railroad. A traffic guarantee with Lake Shore A M. S. provides that —(V. 28, p. 401; V.
p.
p.
40 per cent of earnings from this road shall be used to buy up its bonds.
Greenville d: Columbia (S. C.)—Columbia to Greenville, S. C., 144
Gross earnings in 1879, $130,129; net, $68,313.
Stock is $533,000. miles; branches to Abbeville and Anderson, 21 miles; total, 165 miles.
David P. Clay, President, Grand Rapids, Mich.
The company also operates the Laurens Railroad, and owns a controlling
Grand Trunk (Canada).—Portland, Me., to Detroit, Mich., 856 miles; interest in the Blue Ridge Railroad. In 1872-3 the company funded
branch lines owned or leased, 416 miles; total, 1,272 miles. The follow¬ two years’ interest in new ten-year bonds, ami the new mortgage of 1876
ing (included in the above) are leased lines: Atlantic A 8t. Lawrence was intended to cover all prior bonds. The old issues include $236,000
RR., Portland, Me., to Island Pond, Vt., 149 miles; Lewiston A Auburn 1st mortg. overdue; $103,060 2d mortg.; $140,000 non-mortg.; $163,RR., Lewiston, Me., to Auburn, Me., 6 miles; Buffalo & Lake Huron 131 funded int.; and $123,500 mortg. bonds due 1895. In 1878 a receiver
Railway, Fort Erie, Can., to Goderich, Can., 162 miles; Chicago Detroit took possession. Bold in foreclosure April 15,1880. Gross earnings in
1879 were $435,919; net, $80,000, against $182,132 in 1878. James
A Canada Grand Trunk Junction RR., Sarnia to Detroit, Mich., 59 miles.
The Grand Trunk forms a trunk line from Portland to Chicago by the Conner, receiver, Columbia, B. C. (V. 27, p.227; V. 28, p.553; V. 30,
acquisition in 1879 of the Chicago & Lake Huron and other roads be¬ p. 322, 384, 408.)
tween Detroit and Chicago, which are to be consolidated under the
Gulf Colorado <£ Santa Fc.—Galveston to Brenham, Texas, 124 miles.
name of Northwestern Grand Trunk.
The report for the half year end¬ Road
opened late in 1878 (63 miles), and sold and reorganized April 15,
ing Dec. 31, 1879, was published in the Chronicle, V. 30, p. 517, con¬ 1879. An extension completed to Brcuhani, Tex., 124 miles from Gal¬
taining the following: “ The following is the report of the directors for
veston, April, 1880. John Sealy, President, Galveston, Tex. (V. 30, p.
the half-year ending Dec. 31, 1879:
,
408.)
1879.
receipts upon the whole undertaking, includingthe Buffalo and C'hainpl. lines, have been £978,202
The gross
518.)
2p, 631; V, 30,
1878.
£924,034
Hannibal dc St. Joseph.—Hannibal, Mo., to St. Joseph, Mo.,
branches to Kansas City, 53 miles; to Atchison, Kan*., 19
206 miles;
miles; to
224.750 Quincy, HI., 13 miles; total length operated, 292 miles. The main line
The net balance over all expenses, including interest, was £64,037. was opened February, 1859. The company had a Congressional land
The amount brought forward from the preceding half-year. £1,642, giant and received $3,000,000 in bonds from the State of Missouri, on
makes, with the above balance from the past half-year of £64,097, a which the company pays interest. On Jan. 1, 1879, the company had
total of £65,740, out of which a dividend for the half-year at the rate of about 90,000 acres of land unsold and $2,500,000 of land notes, which
£4 per cent per annum on the first preference stock has been paid, ab¬ were pledged as security for the bonds issued in 1878, and as $25,000
is accumulated these bonds are drawn and paid.
Prices of stock and
sorbing £64,300, and leaving £1,440 to be carried to the next halfas
follows;
monthly
earnings
have
been
year’s account. Earnings for five years past were as follows:
Gross
Net
Prices of Stock.
Monthly Earnings.
1880.
1879.
-Preferred.Years.
Earnings.
-Comruon.Miles.
Earnings.
$
1880.
$
1879.
1880.
£408,475
1,388
£2,000,394
1879.
137,047 176,079
34
7212- 64
333* 40
407,862 Jan. 15V 13*4 42
1,388
1,960,218
6914 137.038 166,965
1,388
1,754,269
373,161 Feb. 163y- 145* 42»2- 38% 44V 3712 76
75 - 695* 211,899 216,061
1,390
469,851 Mar. 16
1,906,264
1442 403*- 3514 45%- 42
165,444 206.735
73 V 65
425,938 Apr. 21V 14
37%- 31
44V 98
1,272
1,811,071
189,125
134,070
72
V
6312
34
45V
405*
227*
233*175*
—(V. 28, p. 453, 474, 553; V. 29, p. 40,146, 252, 301, 510, 511, 537, May
107.560
443*- 4OI2
J’ne 223*- 195*
631; Y. 30, p. 144, 517, 624.)
99,811
44
3712
277,231
Net income
-
-
-
July 21V 18
Canada.—Suspension Bridge, Canada, to Windsor, Aug. 2012- 18*4
Canada, 229 miles; Loop line, Glencoe, Canada, to International Bridge,
Sept 25 V 183*
145 miles; branch lines, 151 miles; lines leased or operated on contract,
Oet. 37*2- 243*
294 miles; total operated, 819 miles.—The last seini-annual report was
Nov. 41V 20 ^
published in the chronicle, V. 30, p. 464. The following summary Dec. 353*- 28b
exhibits a comparison of the half-year’s results with those of the cor¬
Last annual report
responding half-year ended Jan. 31,1879.
showed the
Great
Western of
1879.
1880.
receipts, including the Galt A Guelph (now
incorporated with the main line and branches). £393,400
Working expenses, including credits to reserve
funds
260,322
£461,140
£133,078
£179,188
104,626
' 99,977
£28,452
£79,211
747
6,260
Gross
Less on working leased lines,
debenture stock, Ac
Balance from
interest on bonds,
previous half-year
281,952
Balance for dividend
£29,199
£72,951
The Directors recommend a divndened on the 5 percent preferred stock
for the whole year, and a dividend of lb per cent on the ordinary for
the half-year, leaving a balance forward of $1,786. During the half-year
-
-
43 Si- 40
5514' 4()i2
61 -V 53
70V 52
66
was
-
55
141,533
176,810
239,735
193,125
253,333
published in the Chronicle, V. 30, p.
following income account:
296, and
$l.»3,854
261,430
Total income
$415,284
This sum was accounted for partly as follows: Construction, $92,315;
new equipment, $47,587; reduction of funded debt, $67,000; reduction
of bills and accounts payable, $68,679.
Earnings and operations for five years past have been as follows:
Passenger
Gross
Net
Freight (ton)
Miles.
Years.
Mileage.
Earnings. Earnings.
Mileage.
292
13,674,185
52,866,475 $1,748,284 $386,735
15,191,834
76,931,978
1,864,065
470,254
292.
15,639,718
80,764,682
1,931,365
795,479
292
292
2,045,450
19,108,676 100,012,716
780,355
21,545,368 111,987,174
1,997.405
773,983
-(V.28, p.'i99,* 220, 641; V. 29, p. 95, 383, 489; Y. 30, p. 296, 650.)
Net income over coupon interest
Proceeds of sale of $261,000 laud
grant sinking fund bonds. - -
^
Subscribers will confer
a
I
DESCRIPTION.
;
Miles
!
_
Earrisb. Portsm'th EL Joy J Lane.—Stock
Size,
01-
JJan'isburg cC- Potomac—1st mortgage
r
Hartford <& Connecticut Valley— 1st mortgage
Mousatonic—Stock
Outstanding
$50
$1,182,550
100
100
656781 781
9 1874-56
2d mort. bonds of 1869
1869
Equipment bonds of 1873
1873
*
1878
1866
1870
1873
(Hempstead to Austin)
(Bremond to Ross)
1872
Consol. luOi t., land grant, Main and Western Div.
do
do
Waco A Northwest
Income and indemnity bds, 3d M. on road A lands.
Huntingdon
Broad Top—1st mort., gold
2d mortgage, gold
3d mortgage .consolidated
Illinois Central—Stock
Redemption, 1st and 2d series
Mortgage bonds, sterling
Sterling bonds, (sinking fund £20,000 yearly)
Mortgage, sterling
~
Bonds, coup. ($2,000,000) M. on Cli. A Sp. RR
Bonds, reg. ($200,000), mort. on K. A S. W. RR
Illinois Midland—1st mortgage, gold
Indiana Bloomington <£ West.—1st mort.,pref
1st mortgage, coup., may be reg
Income bonds, reg., convertible
2d mortgage
1875
1877
58
58
58
1854
1857
1865
..
706
706
706
706
111
37
147
202
202
202
202
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 Ac.
1877
1878
1,000
£200
£200
£200
1876,
Bonds—Princi¬
1,000,000
200,000
Ac,
Ac.
Ac.
Ac
Harrisburg Portsmouth Mount Joy <£ Lancaster.—Dillerville, Pa., to
36 miles; Columbia Branch: Middletown, Pa., to
Columbia, Pa., 18 miles; total, 54 miles. The proi»erty was leased to
the Pennsylvania Railroad Co. for 999 years from Jan. 1, 1861, the
rental being 7 per cent on the stock and interest on the bonds. It is
operated as a part of the main line of the Pennsylvania Railroad.
Harrisburg, Pa.,
Harrisburg <£ Potomac.—Bowmansdale to Jacksonville, Pa., 25 miles;
mines, 2 miles; total, 27 miles.
Extensions are projected to
Waynesboro and to Littlestown. Road opened through in 1878. Stock
is $369,175. Daniel V. Ahl, President, Newville, Pa.
branch to
Excli.
Bridgeport A Boston.
Bridgeport and Boston,
600,000
3,500,000
1,500,000
1,500,000
April' 15, i880
1885
1889
do
New York.
N.
J. N. Y., Nat’l. City Bank,
do
do
J.
do
do
J.
O. N. Y., J. J. Cisco A Son.
do
do
N.
do
do
N.
O.
Philadelphia, Office,
do
do
A.
do
do
O.
N. Y., Co.’s Office.
S.
N. Y., Co.’s Office.
O.
London.
O.
O. London,Morton R.A Co.
do
do
D.
N. Y., Co.’s Office,
J.
do
do
A A.
t
A J.
New York,
A J.
do
A O.
do
A J.
New York.
1
A J.
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
4,175,000
100
500
100
500
do
do
do
,
July 10, 1880
July 1, 1883
Jan. 1, 1904
N. Bk. Jan. 1, 1901
Phila., Co.’s Office,
A J. N. Y., Am.
Q.-j.
Stoclcs—Last
Dividend.
Whom.
J.
F. A A.
pal,When Due
Payable, and by
A J.
& J.
1,600,000
1,000
Where
J.
J.
580,000
2,500,000
416,000
367,500
1,500,000
29,000,000
2,500,000
2,500,000
4,393,000
500
500
1864
1875
1874
1875
1875
1879
1879
1879
1879
When
Payable
3,642,000
100
1,256
Rate per
Cent.
700,000
507,200
1,000,000
820,000
1,180,000
100,000
300,000
150,000
180,000
6,262,000
2,270,000
969,000
1,000
HousL BasliC TVest Texas— 1st mortgage, gold
Houston tC Texas Cent.—1st M., (main) gold, l.gr.,s.f.
„
of any error discovered In these Tables.
Amount
Par
Value.
500 &c.
1st mortgage
Preferred stock
1st mortgage
[VOL. XXX.
INTEREST OR DIVIDENDS.
J
Date
explanation of column Leadings, Ac., see notes’ of | of
on first page of tables.
! Road. Bonds
1st mort., 1. gr., West div.
1st M., gold.Waco A N’west
BONDS.
great favor by giving immediate notice
•
For
STOCKS AND
RAILROAD
32
.
.
1883
1898
July 1. 1891
July 1, 1891
July 1. 1903
Oct. 1, 1912
May 1. 1915
May. 1887
Oct.
Feb.
1.
1.
1890
1895
April 1, 1895
Mar. 1.
•
1880
April 1. 1890
April 1, 1805
April 1, 1903
Dec.
Jan.
1, 1905
1. 1898
Jan.’' 1,' 1905
Jan.
1, 1900
April 1, 1909
April 1, 1919
April 1, 1909
Sioux City RR., 143 miles; Iowa Falls A Bionx City RR., 184 miles ;
Cedar Falls A Minn. RR., 75 miles; total operated in 1879,1,256 miles.
This company was organized in Mareh, 1853, and the whole road
leased lines in Iowa are
The general mortgage of
provides for all bonds outstanding. It is limited to $15,000,000.
opened Beptember, 1855. The terms of the
given under the names of those companies.
1874
The Illinois Central
most successful, of
was
one
the land
of the first, and has been one of the
grant roads. The company has ac¬
the Chicago Bt. Louis A New
large advances, and owns
$1,600,000 of the first mortgage bonds, $5,023,000 of the second
Hartford J Connecticut Valley—Hartford, Ct., to Fenwick, Ct., 46 mortgage bonds, and 61,000 shares of the stock. The Chicago A Spring-
miles. Opened in 1871 and 1872. In hands of trustees of first mortgage
for sometime, and reorganization made in Feb., 1880, as the Hartford A
Conn. Valley, with stock of $500,000 to $1,200,000 and bonds of $1,000,000. (V. 28, p. 41. V. 30, p. 116, 144.)
Housatonic — Bridgeport, Conn., to State line, Mass., 74 miles; leased:
Berkshire Railroad—Connecticut State line to West Stockbridgc, Mass.,
22 miles; West Btoekbridge Railroad—West Btoekbridge to New York
State line, 3 miles; Stockbridge A Pittsfield Railroad—Vaudeusenville to
Pittsfield, Mass., 22 miles; New York Housatonic A Northern Railroad—
Brookfield Junction to Danbury, Conn., 6 miles; total, 127 miles. The
preferred 8 per cent stock was issued in 1845 to pay for laying the road
with heavy iron. The company has voted to issue $700,000 of 5 per
cent bonds to take up $400,000 prior bonds, and to lay steel rails. The
road does a steady business, as may be seen from the following state¬
ment of its operations and earnings for five years past :
Div.
Years.
1874-5...
1875-6....
1876-7....
1877-8....
Miles.
126
126
126
126
126
Passenger
Freight (ton)
Gross
Mileage.
Mileage.
14,368,979
14,557,208
11,658,923
11,528,000
Earnings.
6,419.375
6,057,566
5,869,968
6,162,592
$680,785
655,236
588,166
570,413
Net
p. c.
Earnings. Pref.
$212,599
8
238,413
8
223,989
8
219,941 8
1878-9....
249,844
8
599,660
-(V.30, p. 273, 461)
Houston East J Wesi Texas.—Houston, Tex., to Goodrich, Tex., 63
miles. (Narrow guage, 3 feet.) It is intended to build to Marshall. The
company has a Texas land grant of 10,240 acres for each mile con¬
structed and equipped. Bonds are issued to the extent of $7,000 per
mile. Paul Bremond, President, Houston, Tex. (V. 30, p. 467, 544.)
Houston <£ Texas Central— Houston, Tex., to Red River City, Tex., 345
miles; branches: Hempstead,Tex., to Austin,Tex., 119 miles; Bremond,
Tex., to Ross, Tex., 58 miles; total, 522 miles. Opened March 11, 1873.
The Austin Branch, or Western Division, was opened in 1871. The com¬
pany has a laud giant from the State of Texas of 10,240 acres per mile,
amounting to about 5,210,000 acres; but the lands, as in the case of
other Texas roads, are not on the line of the road, and much of the land
■will be made available, it is reported, by the construction of the Texas
A Pacific line. The capital stock is $7,722,900. In 1877 the company
was embarrassed and application was made for a receiver; but the diffi¬
culties
were
adjusted by the issue of income and indemnity bonds, and
Morgan of the Louisiana 8S. Line bought a controlling interest in
the stock. The last annual report, to April 30, 1879, gave the following:
Gross earnings
$3,031,631 I Interest charges
$1,058,315
Net earnings.
1,326,906 I Net earnings in 1878
930,042
GENERAL BALANCE, APRIL 30, 1879
Construction
$21,870,020 Capital stock
$7,722,900
14,586,500
Equipment
1,831,342 Funded debt
Real estate
315,494
974,153 Sch’ol fd.l’ntet.of Tex.)
Mr.
..
Lands gr’nt’d by Texas
Sundry securities
Materials and supplies
Bills receivable
cash
..
5,240,000
503,780
146,988
Bills
2,106,557
payable
Accounts
payable
Pay-rolls and vouchers
Interest accrued
and
353,302
157,929
178,794
330,319
5,521,091
Surplus
Total
$30,919,587
Total
$30,919,587
—(V. 29, p. 41, 118, 119; V. 30, p. 273.)
Huntingdon & Broad Top— Huntingdon, Pa., to Mt. Dallas, Pa., 45
miles; branches—Shouji’s Run, 9 miles; Bix-mile Run, 4 miles; and Bandy
Run, 3 miles; total. 61 miles. This road was opened in July, 1856. The
capital stock is $930,000 common, and $1,122,800 7 per cent preferred
stock. Interest was passed for a time on the consolidated mortgage
bonds. The freight business is mainly in coal. Operations and earnings
have been as follows for the past five years
Net
Gross
Freight (ton)
Passenger
Years.
Miles.
Earnings.
Mileage.
Earnings.
Mileage.
Cl
$120,442
896,175
14,940,303
$325,011
61
95,4 48
1,041,203
11,693,975
272,456
1877
61
61
61
752,137
754,787
795,931
10,369,597
12,146,492
261,410
238,890
quired
Orleans
a
controlling
interest in
Railroad, to which it has made
field Railroad was a
reorganization of the Gilman Clinton A
Springfield
$3,196,920, and the net receipts from land, above all ex¬
amounted to $102,572. In addition, the company received
$102,321 interest on its investment in bonds secured by the first mort¬
gage of the Chicago Bt. Louis A New Orleans Railroad Co. Thus the
aggregate net income was $3,401,815. From this fund the company has
paid the interest on its bonds and two dividends on its shares. Its busi¬
ness has required additional equipment; 260 freight ears have been
built, and three heavy engines are m course of building in the company’s
shops. The outlays for equipment, together with the cost of consider¬
able additional side track and important purchases of real estate, as well
as cost of additional double track laid between Chicago and Hyde Park,
with new station buildings, Ac., have also been taken out of the income
the traffic was
penses,
account, these construction charges aggregating $386,016. After all
these deductions there is still a balance of income for the year of $617,-
credit of 4 Income’ at the close of pre¬
carried forward to the credit of that
Operations and earnings for live years past were as follows:
Net
Passenger Freight (ton)
Gross
Div.
204, w hich, added to $1,455,635 at
vious year, makes $2,072,839 now
account.”
Years.
”
',!1
’
Mileage.
Miles.
1,108
1,108
1,108
1,256
1,256
50,828,505
51,238,031
46,076,845
43,849,207
44,580,972
Mileage.
Earnings. Earnings.* p.c.
284,650,911 $7,802,556 $2,670,081
264,602.314 7,040,969 2,144,776
249,345-,941 6,639,845 2,546,561'
306,345,691 7,111,184 A015,229
335,470,860 7,234,464 3^196,920
Deduct rentals and taxes.
301; V. 30, p. 91, 218.)
Illinois Midland—Terre Haute, Ind.,to Peoria, Ill., 175 miles, of which
147 are owned and 28 miles leased. This was a consolidation Nov. 4,
1874, of the Peoria Atlanta A Decatur, Paris A Decatur and Paris A
Terre Haute. Receiver appointed Sept 11, 1875. Earnings in 1878-9
$2 49,299; expenses, $292,443; deficit, $43,144. Louis Genis, President
and Receiver, Terre Haute, Ind.
Indiana Bloomington & Western.—Indianapolis, Ind., to Pekin, Ill.,
202 miles; track used on rental, Pekin to Peoria, 10 miles; total operated,
212 miles. This was formerly the Indianapolis Bloomington A Western,
oiKmed October 1, 1869. The company defaulted October 1,1874, and a
receiver was appointed December 1,1874. The road was sold in fore¬
closure October 30, 1878, and the present company organized. The
new securities were placed on the New York Stock Exchange list No¬
vember, 1879, on the following statement: 1. Preferred first mortgage
7 per cent bonds, due in 1908, to the amount of $1,000,000. 2. First
mortgiige bonds, due in 1909, to the amount of $3,500,000. Interest is
payable at the following rates: 3 per cent per annum for the first three
years, 4 per cent for the succeeding tw-o years, 5 per cent for the suc¬
ceeding three years, and then 6 per cent until maturity. The mortgage,
by its terms, cannot be foreclosed for non-payment of interest until
January 1, 1884. 3. Second mortgage bonds to the amount of $1,500,000. These bonds are payable in 1919, and bear 3 per cent ]>cr annum
interest for the first three years, 4 per .cent for the succeeding two years,
5 per cent, for the succeeding three years, and 6 per cent thereafter
until maturity, 4. $1,500,000 income bonds, payable 1919, with such
interest from July 1, 1879, not exceeding 6 per cent per annum, as the
net earnings may suffice to pay after satisfying the interest and sinking
fund uiKm the preferred and first and second mortgage bonds. These
bonds are convertible into stock.
5. $2,500,000 capital stock. 6.
$830,000 stock scrip, which is entitled to a dividend of 7 per cent per
annum, after the payment of interest and a dividend of 8 per cent on
-(V. 28, p. 95, 198, 199; Y. 29, p.
the payment of a 7 per cent dividend, the
into common stock. Of the preferred bonds
$600,000 have been issued to pay expenses of foreclosure, and prior
liens, and $400,000 more may be issued if needed. Earnings for four
years past of I. B. A W. (including extension) and for last year, 1878-9, of
present company were as follows:
110,077
Gross Earnings. Net Earn’gs.
Years.
Miles.
132,693
the common stock. After
stock scrip.is convertible
343
343
343
334
$1,432,352
$317,044
522,980
334,711
1,342,323
266,079
Illinois Central.—Cairo, Ill., to Chicago, Ill., 305 miles; Northern Div
202
1,170,930
375,700
ieion—Centralia to Dunleith, 341 miles; other lines owned and leased—
Kankakee A Southwestern RR., Otto, Ill., to Chatsworth, Ill.. 37 miles; —(V. 28, p. i 8, i.46,’ 22i 224, 276, 302, 352, 401, 526; Y. 29, p. 277,
Chicago A Bpringfield RR., Gilman to Springfield, 111 miles; Dubuque A 302, 329, 511; Y. 30, p. 169, 192, 384.)
—(V. 30,
p.
168.)
13,056,514
253,o2o
141,304
.
,
1,558,418
1,281,241
June, 1880.J
Subscribers will
confer a great favor
DESCRIPTION.
For
explanation of column
on
first page
Date
of
of
Road. Bonds
headings, &c., see notes
of tables.
152
152
72
72
72
117
117
519
519
519
Springfield—l&t mortgage .
convertible
Indianapolis d St Louis—1st rnort., in 3 series
2d mortgage.
I
Equipment bonds
Indianapolis d Vincennes— 1st mortgage, guar
2d mortgage, guaranteed
International d Great Northern—Consol, stock
1st mortgage, “ purcli. money,” gold
Indianapolis Decatur d
2d rnort., (income
by giving immediate
Miles
till July, 1881),
1876
1876
1869
1870
1871
Size or
par
Value.
Amount
money”
Jthaca Auburn d West—2nd M.
Jacksonv.. Fens.dMob.—Florida
Southeast.—Stock
Jefferson (Pa.)—1st & 2d morts.
Jacksonville
(income for 3 yrs)..
State bonds, gold...
(Hawley Branch)..
(Susquehanna t5 Carbondale) —...
Jeffersonville Madison d Indianapolis—Stock
1st mortgage
Indianapolis Sc Madison, 1st
Jetf., Mad. & Ind., 1st M. (s.
do
do
mortgage
:—
f. $15,000 per year).
2d mortgage
mortgage
Jersey City d Bergen—1st
Joliet d Northern Indiana—1st
inert., guar by M. C.
Junction (Philadelphia).—1st mortgage
2d mortgage
Junction dBreakwater—Funded debt (Del. St. loan)
2d mortgage
Kansas Central—1st mortgage (for $2,400,000)
Kansas City Burlington d Santa Fe—1st mortgage.
New mortgage ($15,000 per mile)
Kansas City Fort Scott d Gulf— 1st in. 1. jzt. « f
Mortgage on
/.
branches
500 &c.
1,000
1,700,000
1,450,000
1879
1879
1,000
5,024,000
6 g.
8
4,625,600
1
7
7
....
184
1869
27
1877
250
1870
31
9
38
226
186
159
159
6
44
4*j
1867
1869
4,724,000
500 <fcc.
100
500 &c.
100 &c.
-
»
-
2,960,000
498,090
4,000,000
1,000,000
*
300*. 00
1,000
1,000
2,000/00
2,000,000
100
....
1877
1862
1865
385,000
800,000
1,000
455,000
300.000
1,000
1,000
1876
1879
1,000
400,000
250,000
504,000
600,000
1,500,000
4,000,000
161
126
1880
1879
1880
1,000
1,325,000
m
M
m
m
to Indianapolis,
on the
placed
is successor
for $1,800,000,
in 1906, bearing 7
Indianapolis Decatur d Springfield.—Decatur, Ill.,
Ind., 152 miles. The first and second mortgage bonds were
N. Y. Stock Exchange list in January, 1880. This company
to the Indiana & Illinois Central Railroad. The firsts are
with $1,550,000 issued and outstanding, maturing
Dividend.
whom.
1, 1906
July 1, 1906
July 1, 1919
Oct, 1, 1900
Jan.
July 1, 1881
1908
1900
f, i919
Nov.
B’k
Hept. 1, 1909
June 1,
Q.-M.
1880
April 1. 1899
Jan. 1, 1907
8
A. Sc O. N. Y., Nat. Park Bank.
J. & J. N. Y. City, Treas. Office.
New York.
J. Sc J.
7
7
J.
J.
A J. Honesdale Nat. Bank.
& J. N. Y., by Erie Railroad.
Q.-F. N. Y., Farm. L. Sc T. Co.
do
'
do
M. Sc N.
do
do
A. Sc 0.
do
do
J. & J.
1887 & 1889
Jan. 1, 1880
■
7
7
7
7
7
6
6
6
0
7
2,000)000
When
Pay’ble
M. Sc N. N. Y., National City
do
do
M. & S.
Boston.
1%
397,000
2,382,000
500 See.
1862
1866
1,000
18701,000
45
84
42
7
7
7
8
7
6
5,500,000
Bond#—Princi¬
pal, When Due.
Stocks—Last
Where Payable and by
A. & O. New York, Co.’r Office.
do
do
J. Sc J.
Various N. Y., Union Trust Co.
do
do
A. & 0.
do
do
J. Sc J.
F. Sc A N. Y., Farm. L. Sc T. Co.
do
do
M. & N.
7
1867
1870
....
City—Stock
Cent.
906,000
500,000
779978811 781
2d rnort. income “purchase
Ioica Falls d Sioux
1st mortgage. April 1, ’69
Rate per
$1,550,000
2,669,000
2,000,000
1,000
1,000
1,000
1,000
Tables,
notice of any
error discovered in these
INTEREST OR DIVIDENDS.
Outstanding
$1,000
33
AND BONDS.
RAILROAD STOCKS
J. Sc
J. «fc
A &
J. Sc
F. <fc
A. A
J. Sc J
). Sc J.
•f
i
May, 1881
May 1, 1881
Oct. 1, 1906
July 1, 1910
i
J. N. Y.. Farm. L. Sc T. Co. July 10; 1907
July 1. 1882
Philadelphia Olfice.
J.
April 1. 1900
do
do
O.
1890
J. Lewes, Del., Treasurer.
Feb., 1896
do
do
A.
April 1, 1909
0.
8
7
1900
1910
New York.
Boston, Co.’s office.
do
do
....
organized in 1870, and the State of Florida issued to the com¬
of State bonds in exchange for $3,000,000 of the com¬
pany's first mortgage bonds and $1,000,000 of the Florida Central
road first mortgage bonds. Interest has been in default and the road
has been in the hands of a receiver. Net earnings in 1878, $44,429. (V.
pany was
pany $4,000,000
28, p. 578,
Rail¬
599.)
Southeastern.—Jacksonville, to Virden, Ill., 31 miles.
nto stock
after January
1, 1885,
are with
the firstin ten
amount,
coupons
payable
Jiercent
interest;
the seconds
$2,850,000
converti
ble Jacksonville
the Jacksonville Northwestern Sc Southeastern Railroad, pro¬
only out of net earnings but to be paid in scrip if net earnings are
insufficient, and have thirty years to run ; amount issued, $2,669,000. jected from Jacksonville to Mount Vernon, 125 miles, and finished as
The stock, of which very little is issued, is $500,000 in $50 shares. above. Bonds were issued at $20,000 per mile, amounting to $600,000.
1879 the company was reorganized by the bondholders under this
earnings in 1878 were $110,347; net, $28,965. The entire road
without any debt. M. P. Ayers, Jacksonville, Ill., was the former
opened for business February 9, 1880. (V. 28, p. 277, 624 ; V. 30,
president.
p. 67.)
Indianapolis d St. Ijpuis.—Indianapolis, Ind., to Terre Haute, Ind., 72
Jefferson Susquehanna Depot, Pa., to Carbondale, Pa.. 37 miles;
miles; leased line, Ht. Louis Alton & Terre Haute, 189 miles, and branch: Hawley, Pa., to Honesdale, Pa., 9 miles; total, 46 miles.
branches, 6 mileff; total operated, 267 miles. The lease of the St. L. A. Leased in perpetuity to the Erie Railway at a rental of 7 per cent on the
T. H.
guaranteed by two other companies, and suit has been bonds, and now operated by the New York Lake Erie Sc Western. Capi¬
pending as to the rental. The company is controlled by the Pennsyl¬ tal stock, $2,096,050. Edward Clymer, president, Reading, Pa.
vania Company, which owns the stock of $600,000, in connection with
the Cleve. Col. Cin. Sc Ind. Of the first mortgage bonds series “A” are J.
Jeffersonville Madison d Indianapolis.—Louisville, Ky., to Indianapolis,
J.; series “B,” M. Sc 8.; series “C,” M. Sc N. In 1879 interest on
Ind., 110 miles; branches, 116 miles; total owned and operated, 226
equipment 8s was not paid. Operations and earnings for live years past miles. Thd road was leased January 1, 1873, to the Pennsylvania Com¬
Net
follows:
pany, the lessees to pay the interest and sinking fund of bonds and 7 per
Passenger
Freight (ton)
Gross
Earnings. cent
annum on the stock. The lease was guaranteed by the Pennsyl¬
Earnings.
Mile:ige.
Mileage.
Milos.
$325,996 vania Railroad. Earnings for five years past were as follows:
This was
In
name,
Gross
was
Sc
—
was
&
were as
Years.
?.
265
265
266
' 266
266
(V. 27, p. 41,
11,922,681
10,889,483
8,211,025
10,865,239
12,209,092
409, 454, 603; V.
79,811,222
100,902,991
92,684,115
85,300,579
102,630,114
28, p. 377; Y.
$1,513,881
1,657,863
1,385,874
1,347,246
1,493,876
29, p. 95.)
477,882
315,115
Vincennes.—Indianapolis, Ind., to Vincennes, Ind., 117
owns a controlling interest in the
advancing the deficiency to pay interest on
$1,402,000. In 1879 the net earnings
$64,025; in 1878, $5,349; in 1877, a deficiency; in 1876,
?;17,973;
0 $206,000.
in 1875,
$32,709.
The
(V. 28,
p. 18, 377.)
International d Great Northern.—Longview, Texas, to Houston, Texas,
236 miles, and Palestine, Texas, to Austin City, Texas, 181 miles;
branches—Troupe, Texas, to Mincola, Texas,44 miles; Phelps, Texas, to
Huntsville, Texas, 8 miles; Houston. Texas, to Columbia, Texas., 50
miles; total, 519 miles, and leased 10 miles, Round Rock to George¬
town. This was a consolidation of the Houston Sc Great Northern Rail¬
road and the International Railroad of Texas on September 22,1873.
The company made default on its bonds, and a receiver was appointed
in April, 1878. Sales in foreclosure were made July 31 and October 14,
1879. The plan of reorganization was reported in the Chronicle (V. 27,
p. 95, 331). The stock authorized is $25,000,000. In the reorganization
the lands of the company, amounting to about 5,000,000 acres, were
conveyed to the second mortgage bondholders in full settlement for their
lien on the road, which was thereby discharged. The present income
bonds were issued for one-lialf of old mortgages and overdue interest.
Interest at 4 per cent for the year 1879 is paid on these—2 per cent
March 1 and 2 per cent 8ept. 1, 1880. Extension of 150 miles is in
progress. Operations and earnings for five years past
were as follows:
Net
Gross
Freight (ton)
Indianapolis d
annual interest on the debt amounts
Earnings.
$1,224,147
1,171,874
1,176,174
1,150,014
1,246,333
Miles.
161
161
161
186
186
Div.
Net
Gross
■t
Years.
491,149
miles. The Pennsylvania Company
stock and operates the road,
the bonds. The capital stock is
were
per
431,645
-
Earnings.
$468,281
444,005
499,033
425,887
492,863
p. c.
7
7
7
7
7
-(V. 28, p. 378.)
City to Bergen Point. N. J., 6 miles. In
$224,817; net, $80,421. In 1879 gross earn¬
$84,457. Stock is $165,150. William Keeney,
President, Jersey City. (V. 30, p. 566 )
Jersey City d Bergen.—Jersey
1878 gross earnings were
ings were $228,758; net,
Ind., 45 miles.
main line. Road opened in
8 per cent on the bonds. The
Michigan Central declined to pay 8 per cent, and the above issue of
bonds definitely guaranteed was given as a compromise.
Junction (Philadelphia).—Belmont, Pa., to Gray’s Ferry, Pa., 3*6 miles
It connects various lines coming into Philadelphia. Capital stock,
Joliet d Northern
Indiana.—Joliet, HI., to Lake Station,
Operated as part of the Michigan Central
1854 and leased to the Michigan Central at
$87,963. Dividend, 14
per
*
Junction d Breakwater.-Harrington to Lewes, Del., 40 miles; branch
to Rehoboth, 5 miles; total. 45 miles. Gross earnings, 1879, $80,260;
net, $34,285. Htock is $305,000.
N. L. MeCready, President, New
York
Net earnings
$250,000.
cent.
in 1878 were
City.
Bold under
April, 1879.
Earnings. Htock, $504,000. L. T. Bmith, President, Leavenworth, Kan.
Earnings.
Mileage.
Mileage.
Miles.
$615,963
$1,408,303
25,493,405
7,206,313
City Burlington d Santa Fc.—Ottawa Junction to Burlington,
591,872
459
1,453,996
30,017,844
7,883,200
459
466,248
43
miles.
Rood opened April 1, 1878. Htock, $600,000. Exten¬
1,560,455
35,909,691
9,008,250
571,983
of 700 miles proposed (Kansas City, Mo., to Santa Fe, New Mexico)
519
1,636,585
39,579,080
7,841,041
519
578,087 and mortgage for $11,000,000, and not to exceed $15,000 per mile of
1,775,861
43,969,649
7,534,957
1879....
519
completed road. Htock issue not to exceed $15,000 per mile. Wm. H.
-(V 28, p. 351,4£8; V. 29, p. 41, 120, 357, 459 ; V. 30,p. 91,169, 248, Schofield, President, Burlington, Kan. (V. 30, p. 408, 510, 536.)
518.)
City Fort Scott d Gulf.—Kansas City, Mo., to Baxter Springs,
Falls d Sioux City.—Iowa Falls, la., to fiioux City, la., 184 miles. Kan., 100 miles. In Feb., 1880, acquired the Mcrnnli. Kan. & Colorado
road
opened in 1870 and leased to the Illinois Central at a Railroad, 44 miles. This company was organized April 1, 1879, as succes¬
the Missouri River Fort Scott Sc Gulf, which made default Get. 8,
rental of 35
cent of the gross earnings, which percentage in 1878
amounted to $166,692 and in 1879 to $168,454. This company also 1873, and was wild in foreclosure February 4,1879. The stock is
receives
drawback of 10 per cent on business to and from tlieir line $4,000,000 common and $2,750,000 8 per cent preferred. The first
the Dubuque Sc Sioux City Railroad; also a rental from 8ioux mortgage bondholders of the old road took 80 per cent in the new mort¬
City <fe St. Paul Railroad, which amounted in 1878 to $17,535. Horace
bonds, and for all other claims stock was issued. In May, 1880,
Williams is president, Clinton, O.
bonds on branches were issued, as per circular, V. 30, p. 465.
Operations and earnings for five yearsFreight
past have
(ton)been as follows: Net
Passenger
Ithaca Auburn d Western..—Freeville to Scipio, N. Y., 27 miles. The
Earnings. Earnings.
Mileage.
Mileage.
York Sc Oswego Midland Railroad was sold in foreclosure, and this
Miles.
$677,843 $196,910
23,054,779
3,953,320
company organized Sept. 20, 1876, as the successor.
The stock is 1875
229,222
902,094
30,507,648
4,589,110
227,177
$970,000, and there is a first mortgage authorized of $500,000 for 1876
865,734
28,131,154
4,977,670
115,507
building to Auburn Sc Ithaca, of which $20,000 bonds are issued.
Passenger
Kansas
Central—Leavenworth to Onaga, Kan., 84 miles.
first mortgage April 14, 1879. Reorganized
foreclosure of
Years.
Kansas
Kan.,
sion
....
Iowa
This
was
i>er
Kansas
sor
to
a
over
New
George
Opdyke, President,
new
i
Years.
N. Y. City.
1877
Mobile.—Italic City, Fla., to Chattahoochee,
Junction (main line) to Monticello, 4 miles;
miles; total, 175 miles. The present com¬
1879
Jacksonville Pensacola d
Fla., 150 miles; branches:
Tallahassee tost. Mark’s, 21
gage
1878
—(V. 28, p.
160
160
160
1(h)
42, 140,
5,203,933
024 ; V. 29, p.
32,301,278
Gross
833,835
895.864
332,811
538; V. 30, p. 222, 463, 465.)
34
RAILROAD
Subscribers will confer
a
STOCKS
AND
BONDS.
great favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
For explanation of column headings,
on first page of tables.
Miles
&c.,
see
notes
Date
288
40
1879
1853
1855
1878
162
49
38
4 to 6
....
Where Payable, and by
Whom.
Boston, Office.
do
1909
Jan. 1. 1910
1910
March, 1883
do
do
do
M. & S. N.
J. & D.
A. A O. N.
Various
1181
1,000
1,000
1,000
1,000
“
1.000
100
100
....
.
864
864
864
1870
1870
1873
1872
1855
1867
1869
1855
1866
1862
1866
1868
1876
1869
....
451
95
258
162
162
88
88
88
62
37
1,815,000
1,485,000
2,500,000
1,000,000
454,000
*
Y., Bank of America.
do
do
June, 1885
Y.,Farm. L. & T. Co.
Oct. 1, 1923
1880-1902
Bath, First Nat. Bank.
Jan.
6 g.
7
6 g.
7
6 g.
4
5
-
49,466,500
533,500
1,000
1,000
>
1,000
i
10,460,000
2,705,000
5,255,000
920,000
1,000
1,000
1,000
924,000
7
7
7
7
7
7
7
7
7
7
7
400,000
7
500 &e.
1,356,000
1,000
1,000
1,000
1,000
1,595,000
849,000
200,000
300,000
500 &c.
2,834,000
1,000
F. & A. N. Y., Metropolitan Bk.
do
do
August.
M. & N.
do
do
do
do
Yearly.
A. & O. N.}Y., Union Trust Co.
F. & A. N.lr ..Grand Cent.Ottice.
F. & A.
do
do
J. & J.
i'S’S b
Aug. 15.1919
1899
1919
1899
1910
Feb.
Feb.
J.
A.
M.
A.
A.
J.
A.
J.
M.
A.
&
&
&
&
&
&
&
&
&
&
D.
O.
N.
O.
O.
,*-e
ci
g
>5^
*
03 43
J.
S.
O.
F. & A.
J. & J.
§
§
J.
O.
b
ri
S
.
r*
O
1
H
® o
8.® ©'5'■g
©£:
r*.
u X.
O
3H SiM
2,
1880
1, 1880
July 1, 1900
July 1, 1900
Dec. 1, 1903
Oct. 1, 1882
May 1, 1885
Oct. 1, 1892
April 1, 1899
July 1, 1885
April 1, 1886
July 1, 1882
Sept. 1, 1836
April 1, 1893
Aug. 1, 1906
Jan. 1, 1890
.
3
Q.-J.
1, 1892
Aug. 15,
May 1,
May 1,
April 1,
-
7
7
f
Q 441 OOO
Stocks—Last
Dividend.
.
A. & O.
J. & J.
7
7
7
7
5
6
7
233,000
2,750,000
2,395,000
500,000
When
Payable
pal,When Due
7,700,000
1879
1879
1879
1879
1880
....
.
$2,940,000
545,000
300,000
792,000
......
200
200
35
.'.
Rate per
Cent.
Outstanding
lOO&c.
’69-’72
365
165
^
Amount
$....
1,000
1,000
l,00u
1,000
1880
1880
21
99
99
Kentucky Central—2d mortgage
3d mortgage
Keokuk d-Des Moines—1st M., int. guar. C. R.T. & P.
itnox & Lincoln— 1st mortgage
Knoxville d- Oh io— 1st mortgage
Lake Erie d- Western—Stock
1st mortgage, gold
Income bonds convertible (not cumulative)
Lafayette Bloom. & Muncie, 1st mort., gold
do
do
income M. con. (nou-cumul.)
Lake Ontario Southern— 1st mortgage, gold
Lake Shore & Michigan Southern—Stock.
Guaranteed 10 per cent stock
Consol. 1st mort., (sink, fund, 1 per cent) coupon
do
do
do
registered
Consol. 2d mort.., do. (for $25,000,000) ooup.& reg.
Income bonds, coupon or registered
1st mortgage, sinking fund, M. S. & N. I
3d mortgage (C., P. & A. RR.) registered bonds..
Lake shore dividend bonds, April, 1869
1st mortgage (C. & Tol. RR.) sinking fund
2d mortgage
do
Buffalo & State line, mortgage bonds..
do
do
Buffalo & Erie, mortgage bonds
Det. Monroe & Tol., 1st mort., coup., guar
Kalamazoo & White Pigeon, 1st mortgage
or
Par
Value.
Bond#—Princi¬
INTEREST OR DIVIDENDS.
Size,
of
of
Road. Bonds
Kansas City. Lawrence <£ Southern—1st mortgage...
Southern Kansas & Western—1st mortgage
Sumner County RR.—1st mortgage
*
[Vol. XXX.
o
'
Kansas
City Lawrence & Southern.—Lawrence, Kan., to Coffeyville owns 2.679 shares
which appear among its assets in the
line), 144 miles; branch to Parker, 2 miles; leased: balance sheet. The f$267,900),
first mortgage debt of the company was diminished
Kansas City & Santa Fe Railroad, 32 miles; Southern
Kansas, 104 from $23,000,000 to $22,750,000 in 1879 by the regular contribution of
miles; Kansas City Fort Scott & Gulf,21 miles; total owrned, leased, and $250,000 to the
which now amounts to $2,250,000 first
operated, 303 miles. In April, 1880, Southern Kansas opened to 105 mortgage bonds sinking fund,
purchased and canceled. The second mortgage debt
miles from Independence.
This company was formerly the Leaven¬ was increased
$665,000, which represents the cost of $l,732,5jp0 first
worth Lawrence <fc Galveston Railroad, which was sold in
foreclosure mortgage bonds and $1,384,700 of the
capital stock of the Chicago &
August 9, 1878, and purchased by bondholders, and the present com¬ Canada Southern
Railway Company. This purchase gives L. S. <fc M. S.
pany organized May, 1879. For terms of agreement with leased roads coutrol of
Chicago & Can. Southern. It extends from the Detroit River,
and status of securities, see V. 30, p. 519.
The capital stock is at Grosse Isle, to Fayette, Ohio, a distance of 67 miles. From
Fayette
$2,940,000.
Annual report in the Chronicle, V. 30, p. 543. Gross- to Butler, an
important station on the Air Line, and the eastern terminus
earnings in 1879, $495,238; net, $129,579; net receipts of land depart¬ of the Eel River
Railroad, a distance of oub- about 35 miles, the road is
ment, $33,212.
In 1878 the net earnings were $158,265; in 1877, graded. The last annual
report is published in V. 30, p. 490, containing
$144,365; in 1876, $219,374; in 1875, $143,483. The present bonds the tables below,
showing the opeiations and the earnings of the road
cany 4 per cent till 1882; 5 in 1882-3; and 6 after.
(V. 28, p. 42, 351, for a series of years:
*
401, 623; V. 30, p. 384, 519, 543.)
INCOME
(Indiana
Ter.
ACCOUNT.
Kentucky Central— Covington, Ky., to Lexington, Ky 99 miles, and
Paris, Ky., to Maysville, Ky., 50 miles; total, 149 miles. Thin was for¬
merly the Covington & Lexington Railroad, which was foreclosed in
1865. In 1875 the present company was
formed, and took possession
May 1, 1875. The Maysville & Lexington Railroad was taken Nov.
17, 1876. The preferred stock is $500,000 and the common stock
$4,500,000. In May, 1880, dividends were paid of 3 per cent on pre¬
,
ferred stock and 1 per cent on common. Annual
report, V.
Operations and earnings for five years past were as follows:
Gross
Years.
1875-76
1876-77
1377-78
1 878-79
1879-30
Miles.
99
149
....149
149
...149
...
....
...
....
...
...
....
Earnings.
$663,113
$307,572
706,476
648,342
553,389
608,029
....
-(V. 30, p. 623,)
Keokuk & Des
Net
Earnings.
30,
p.
623.
Pref.
304,007
246,694
208,750
222,514
Com.
3ig
4
3
2
-
-
5
& Pacific Railroad on the terms
cent of the gross earnings to this
Des M'
1873. 1
Chicago
following: that the
eldcent
preferred
$2,600,400
of common,
a majority of which is
Eer
by the
lessee. and
In the
year 1878-9
gross earnings were $565,556,
a
small surplus balance to this company.
Knox & Lincoln.—Bath, Me., to Rockland,
Me., 49 miles. The road was
opened in November, 1871. In the year ending December 31,
1879, the
gross earnings were $104,366 and net
earnings $47,300. The stock is
$354,580.
On city and town bonds, interest is
mostly
municipalities. John T. Berry, President, Rockland, Me. paid by the
Knoxville d: Ohio.—Knoxville, Tenn., to
Careyville, Tenn., 38 miles.
This was formerly the Knoxville &
Kentucky Railroad, which was in
default to the State of Kentucky and sold October
8, 1871. It is con¬
trolled by the East Tennessee Virginia &
Georgia. Net earnings, 1877-8,
$36,262. The stock is $1,080,100. C. M. McGee,
President, Knoxville,
Tenn. ,
Lake Erie d. Western.—From
Fremont, O., to
miles. This was a consolidation, December
Bloomington, Ill., 365
12, 1879, of the Lafayette
Bloomington A Muncie and the Lake Erie & Western. The line embraces
the former Lafayette Bloomington &
Mississippi road and the Lake Erie
<fc Louisville.
(See the following x>ages in the Chronicle
407, 538, 631; V. 30, p. 17, 5670
.
:
V. 29, p. 329.
’
Lake Ontario Southern.- This
company was a
1879, of the Ontario Southern, and the Geneva consolidation, Dec. 2,
Hornellsville & Pine
Creek RR. The line is from Sodus Point, N.
Y„ to West Branch, Potter
County, Pa., 155 miles, of which 34 miles are in operation.
The
is
$2,800,000, and bonds for $3,000,000 issued at $20,000 per stock
mile of
completed road. E. B. Pottle, President, Newark, N. Y.
(V. 30, p. 434,
466.)
Lake Shore <&
miles;
Michigan Southern.—Buffalo, N. Y., to Chicago, Ill., 540
branches owned, 324 miles.
Other lines owned as follows:
Detroit Monroe & Toledo, 62
miles; Kalamazoo & White Pigeon, 37
miles; Northern Central (Michigan), 61 miles; total, 160
miles. Roads
leased are as follows: Kalamazoo
Alhga i <fc Grand Rapids, 58 miles;
Jamestown & Franklin, 51 miles;
Manoniug Coal Railroad, 43 miles;
total, 152 miles. Total road owned, leased, and operated,
1,177 miles.
This company was a consolidation of
the Lake Shore Railroad and
Michigan Southern & Northern Indiana Railroad May 27,
1869, and the
Buffalo & Erie Railroad August
16, 1869. The consolidated line em¬
braces the former roads of the Cleveland & Toledo
and the Cleveland
Painesville & Ashtabula railroads. Of the
guaranteed stock, the claim
for dividends between 1857 and 1863
has been settled on
leaving $172,900 still unsettled. Of the ordinary stock the $360,600,
Total income
Disbursements—
Rentals paid
4,541,194
4,536,558
4,712,970
$
$
272,675
2,646,180
debt
Total
4,586,558
*6^ per cent.
t
During the
year
1879.
197,662
$
6,336,968
172,806
5,690,828
6,509,774
5,193,166
171,776
265,404
2,623,630
Dividends, guar
(10) 53,350 (10) 53,350
Dividends, ordin’y. (314)1,607,661 (2) 989,330
Ashtabula accident..
495,722
Miscellaneous
4,378
Balance, surplus
6,692
276,106
on
1878,
$ .
$
$
$
251,924
257,489
2,611,180
2,616,955
(10) 53,350 (10) 53,350
(4)1,978,660 (*)3,215,322
77,909
60,128
37,544
'
4,712,970
$473,100 of worthless assets
680,261
306,530
5,690,828
16,509,774
were
written off.
The net surplus in 1879 was
lessee pav 25 per
company, but guarantee the interest
(not the principal) on the present bonds. The stock is
$1,524,600 of 8
showing
1877,
$
4,374,342 *
212,216
Net earnings
Interest and divid’ds.
'
2
Moines.—Keokuk,- la., to Des Moines, la., 162 miles.
-
Receipts—
Interest
Divid’s, P.Ct.—N
6
6
6
6
6
1876.
company
disposed of as follows, to wit: Sinking
fund, $250,000; Ashtabula accident, $58,672; balance, $33,005; total,
$341,677. Nothing was charged to construction or equipment in 1879.
The operating expenses include 9,500 tons steel rails.
The miles of
track now laid with steel rails are 1,100. Included in
operating expenses
is about $250,000 expended for additional
equipment, improvements at
Ashtabula Harbor, real estate, &c\, which items have heretofore
been
charged to construction.
Tim financial results of the ten
years since consolidation are shown
by the following condensed table:
Operating
Interest, leases
Net
and dividends
Expenses.
Earnings.
Per cent. Earnings, on Guar. Stock,
$13,509,236
61*95
$5,140,415 $1,828,897
Gross
Year.
Miles.
1870..
1871..
1872..
1873..
1874..
1875..
1876..
1877..
1878..
1879..
1,013
1,074
1,136
1,175
1,175
1,175
1,177
1,177
1,177
1,177
14,898,449
17,699,935
19,414,509
17,146,131
14,434,199
13,949,177
13,505,159
13,979,766
15,271,492
65*64
66*90
70*90
65*04
72*96
68*64
66*37
60*70
,
58*50
*
5,118,643
5,860,409
5,667,911
5,993,760
3,902,698
4,374,341
4,541,193
5,493,165
6,336,968
The following condensed tables show the
for the past six years, 1874-1879:
2,121,164
2,201,459
2,654,560
3,008,193
2,810,294
2,759,989
2,775,657
2,718,792
Div.
p. c.
8
8
8
4
3*4
2
3*4
2
4
6^
2,754,988
freight and passenger business
FREIGHT.
Year.
Tons.
1874.
1875.
1876.
5,221,267
5,022,490
5,635,167
5,513,398
6,098,445
1877.
1878.
1879.
7,541,294
Tons
one mile.
-Per ton per
Revenue. Receipts.
Cent.
$
999,342,081
943,236,161
1,133,834,828
1,080,005,561
1,340,467,821
1,733,423,440
11,918,350
9,639,038
9,405,629
9,476,608
10,048,952
11,288,260
1*180
1*010
*817
*864
*734
*634
mile
Cost.
Cent.
•
-767
•737
•561
•573
Profit.
Cent.
’
•413
•273
-256
•474
•291
•260
•398
•244
PASSENGERS.
Passengers
Year.
1874.
1875.
1876.
1877.
1878.
1879
Passengers.
.
.
.
.
.
.
3,096,263
3,170,234
3,119,923
2,742,295
2,746,032
2,822,121
one
mile.
173,224,572
164,950,861
175,510,501
138,116,618
133,702,021
141,162,317
/—Per passenger per mile.—v
Revenue. Receipts.
Cost.
Profit.
$
Cent.
Cent.
Cent.
2*452
4,249,022
1*595
•857
2*378
3,922,798
1*735
*643
2*090
3,664,148
*652
1*4:38
3,203,200
2*319
1*539
•780
3,057,393, 2*287
1*166
1121
2*223
3,138,003
•775
1*448
27, p. 602, 645; V. 28, p. 473, 618; V. 29, p. 170, 602, 657; V.
478,490.)
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
explanation of column
on
first page
Miles
headings, Ac., see notes
of tables.
Kalamazoo, Allegan & Gr. Rapids, 1st mortgage.
do
do
stock, 6 per ct. guar.
Jamestown & Franklin, 1st mortgage
do
do
2d mortgage
Lawrence—Stock
;
1st mortgage
Leavenv'orth Atch. cC N. TF.—1st raort., guar...;
Lehigh Lackawanna—1st A 2d mortgages
Lehigh Valley—Stock, common and pref
1st mortgage, coupon and registered
2d mortgage, registered
Consol, rnort., gold, $ & £ (s. fd. 2 p.c. v’ly) cp.& reg.
Easton & Amboy, 1st mortgage (for $6,000,000).
Delano Land Company bonds, endorsed
Little Miami—Stock, common
1st mortgage
Street connection bds (jointly with Cin. A Ind.RR.)
Little Rock <£■ Fort Smith—New stock
Ist'M., Idgi-’t (1,083,000acs)s.fd. (for$3,000,000)
Little Rock Miss. River A- Texas— 1st mortgage
Little Schuylkill—StocK
Size, or
[Date
•
1867
13
1867
58
1868
•
•
•
51
51
22
17
21
25
301
101
101
232
60
....
Outstanding
Value.
Road. Bonds
12
Amount
Par
of
of
Lake Shore & Michigan Southern—(Continued)—
Schoolcraft & Three Rivers. 1st mortgage
Kalamazoo & Schoolcraft, 1st mortgage
500,000
8
8
8
3
7
7
50
450,000
2*fl
1,000
1,000
1,000
336,000
7
7
7
1
6
100,000
840,000
610,000
397,000
....
1,000
1863
1869
1,000
....
1865
1870
1877
•
•
479,000
600,000
27,428,855
5,000,000
6,000,000
14,304,000
Held by L.V.
1.697,000
50
••
1,000
1,000
1,000
1,000
1,000
1868
1870
1873
1880
1872
sinking fund, extended
1877
Long Island—Stock
1st mortgage, extension
......
1st mortgage, Glencove Br
1st mortgage, main
2d mort. for floating debt ($1,500,000)
Newtown & Flushing, guar
New York A Roekawny, guar. int. only
Smithtown A Port
84
....
165
165
100
31
31
158
95
156
4
10
19
Jefferson
50
4,637,300
1853
1864
1,000
1,492,000
475,000
1875
1876
500 Ac.
196
....
1,000
-.
.
^
1860
1864
1868
1878
1873-
1871
1871
Junction, Pa., to Youngstown, O., 18 miles, with
a branch from Canfield Junction to Coal Fields, O., 4 miles.
The branch
was built l)y another company and merged in this company April 23
Railroad was leased June 27, 1869, to Pittsburg
Railroad at 40 per cent on gross earnings, with
$45,000 per year guaranteed as a minimum. Lease has been transferred
to Pennsylvania Company, by which the road is now operated.
Sinking
fund has $19,000 bonds, deducted in amount of bonds given above
Gross earnings in 1879, $173,452; net earnings, $78,074; rental re¬
The Lawrence
Fort Wayne
& Chicago
ceived from lessee,
$69,380.
Northwestern.—Leavenworth, Kan., to Atchis¬
on, Kan., 211u miles.
Leased to the Pacific of Missouri July 1, 1870, at
$42,500 per year. Afterwards, when Pacific of Missouri was reorgan¬
ized as Missouri Pacific, lease was modified. Capital stock, $500,000.
Lehigh <£• Lackawanna.—Bethlehem, Pa., to Wind Gap, Pa., 25 miles.
This coal road was opened in 1867.
It is leased to the Lehigh Coal
A Nav. Co., and operated by Central Railroad of New Jersey.
Of the
above bonds, $100,000 are a first mortgage, and the $500,000 second
mortgage are income bonds. Capital stock, $375,100. Gross earnings in
Leaven worth
1879
Atchison tC
$31,942; net earnings, $7,894.
Lchigli Valley.-Phillipsburg
(Penna. line), N. J., to Wilkesbarre, Pa.,
miles; Hazle Creek
Lumber Yard to MilnesCarmel (and
Easton &
Amboy Railroad, Amboy, N. J., to Pennsylvania line, 60 miles; total
owned and operated, 293 miles. This is one of the most important of
the so-called “ coal roads,” and has been able to maintain moderate
dividends during the past years of depression. It is one of the peculiari¬
ties of the company’s annual report that fio general balance sheet is
given. The earnings, expenses and income account for the liscal year
,101 miles; branches—Pen Haven to Audenried, 18
Bridge to Tomhicken (and branches), 34 miles;
ville (and branches), 18 miles; Black Creek Junction to Mt.
branches), 59 miles; Slatedale branch, 3 miles; owns the
ending Nov. 30,1879, were as
follows:
Net
Gross
Receipts.
From—
Coal
Freight
Passengers,
Exspenses.
$1 ,853,673
$4,011,444
1,488,578
Express & Mail.
432,302
$5,932,325
5,532,738
Totals
1878
decrease (t)... *$399,587
The income from all sources, including
ments, Ac., amounted to
Operating expenses of the road
Increase (*) or
$2,157,771
859,998
283,309
628,579
148,993
$2,996,981
2,456,926
$2,935,344
3,075,811
t $140,467
interest received from invest¬
*$540,054
$6,540,363
2,996,981
$3,543,382
Net income
Out of which there was
interest on Bonds
Receipts.
paid-
Dividends—four per cent on Common Stock
General expense, interest on floating debt,
Morris Canal and on coal operations
$1,557,900
1,095,523
taxes, loss on
866,595
$3,520,019
Leaving
to be carried to the credit of the profit and loss
earnings for five years past were as follows:
$23,363
account. Operations and
,
3,260,000
175,000
150,000
1,121,500
986,772
106,500
250,000
600,000
A
A
A
A
A
A
J.
J.
J.
0.
J.
D.
f
pal,When Du e>
Stocks—Last
Dividend.
and by
July 1, 1887
July 1, 1887
July 1, 1888
Oct
1, 1879
Var.to J’ly,’97
June 1, 1894
see preceding page.
.
Pittsburg Office.
Q.-J.
F. A A. N. Y., Winslow, L. A Co.
A. A O. N. Y., B’k of Commerce.
Philadelphia.
J. A D.
Dec. 1, 1907
July 15. 1880
Philadelphia, Office.
June, 1898
J. A D. Reg. atoffice, cp.B’kN.A
Sept., 1910
M. A S.
Philadelphia, Office.
1898 A 1923
do
J. A D.
7
6 g.
5
7
2
6
6
Q.-M.
Philadelphia Office.
Cincinnati.
J.
do
Various
do
T. A J.
Boston, Treasurer.
J. A J.
A. A 0.
Philadelphia Office.
J.
7
A
M.
M.
M.
F.
M.
A.
M.
A
A
A
A
A
A
A
Jan., 1892
June, 1880
0)
1894
1, 1905
1, 1896
Jan., 1880
Oct., 1882
Jan.
Jan.
do
1873
Company’s Office.
....
....
7
6
7
7
7
7
7
1920
do
M. A N.
J. A J.
Co.
N.Y., Drexel, M. A
do
do
do
do
do
do
do
do
do
do
do
do
N.
N.
N.
A.
N.
O.
S.
Passenger
Miles. Mileage.
267 17,416,448
Mis. Freight,
Mileage.
Cincinnati & St. Louis Rail¬
Pennsylvania
its faith¬
Lease
debt and $o,000 per
the fulfil¬
earnings in
1878, $1,223,691, and in 1879, $1,441,939; net income, $384,621 in
1878 and $550,233 in 1879, including $109,444 each year from interest,
(V. 28, p. 378; Y.
Ac.
30, p. 382.)
Rock, Ark., to Fort
Little Rock <6 Fort Smith.—Little
In December, 1874, the property
Smith, 165 miles.
(then 100 miles), including
sold in foreclosure.- This company afterwards built
—(V. 28, p. 401; Y.
30, p. 17, 43,
192, 384.)
Arkapolis, Ark., to Pine Bluff,
Cullins, 25 miles; total, 100 miles.
1880. This company was
a reorganization of the Little Rock Pine Bluff A New Orleans Railroad
and the Mississippi Ouachita A Red River Railroad. Both those com¬
panies received land grants and State aid bonds. The stock is $2,606,900. J. E. Redfield, President, Boston, Mass.
(Y. 30, p. 169.)
Little Schuylkill.—Port Clinton, Pa., to Catawissa Railroad Junction,
28 miles; two branches, l^ miles each, Smiles; total, 31 miles. The
East Mahanoy Railroad was leased January 12, 1863, for 99 years, and
sub-leased to Philadelphia & Reading July 7, 1868. The Little Schuyl¬
kill Railroad is leased to the Philadelphia A Reading Railroad for 93
years from July 7,1868, at a fixed annual rental. Of the stock, $158,250
is held by the company, and no dividends are declared on this.
Long Island.—Long Island City, N. Y., to Greenport, N. Y., 95 miles
branches, 63 miles; fetal owned, 158 miles. Other roads controlled and
operated in 1878-9 were as follows:
Name—
Miles.
Little Rock Mississippi River <6 Texas—
75 miles, and Arkapolis, Ark., to
Additional branches were opened in February,
Name—
Miles.
Smithtown A Pt. Jefferson RR. 19‘0
Stewart RR
14*5
Stewart RR
1*8
8*9
New York A Rockaway RR...
Brooklyn A Jamaica
RR
9-6
.
8*1
4*0
6*7
Woodside & Flushing branch.. 3*9
Southern RR
51*5
Hunter’s Point A So. Side RR. 1*5
Far Rockaway branch
9-4
South Hempstead branch
5*3
Central Extension RR
Whitestone branch
Great Neck branch
3*9
2*7
15 9
The total of all the roads owned and operated is 325 miles. The Lon
Island Railroad was doing a fair business, and paid its interest an
an occasional dividend until
the company was saddled with the
leases of the various other roads controlled by Mr. Poppenhusen. The
company w’as unable to pay the enormous rentals on these roads, and
Newtown & Flushing
New York & Flushing
F. N. S. A Central
RR
RR
Messrs. Drexel, Mor¬
hands of a receiver October, 1877.
& Co. were large creditors of Mr.
lateral much of the Long Island Railroad stock.
bonds are issued to take up floating debt of various
the leased roads have been foreclosed under
went into the
gan
now
operated under temporary
the fiscal year ending
30, p. 65, made the
.
7
Poppenhusen, and held as col¬
The second mortgage
classes. Several of
their mortgages, and are
arrangements. The annual report for
September 30,1879,
following exhibit:
J
*
opened in 1846 and the
The Little Miami road was
Columbus & Xenia in 1850, and on November
the two com¬
A Western (Dayton
line to Rich¬
road from Xenia to
branch of 57 miles given
above. The partnership agreement was dissolved November 30, 1868,
and
contract made by which the Columbus A Xenia road, including
its interest in the above-named branches, was leased to the Little Miami
for 99 years. On December 1, 1869, the Little Miami, with all its
30,1853, a partnership contract was entered into between
panies. On January 1, 1865, they leased the Dayton
to Indiana State line) and the Richmond & Miami (State
mond), and on February 4,1865, purchased the
Dayton; these three roads go to form the
a
the land
65 miles,
and opened the road to Fort Smith July 1, 1876. The coupons of July,
1879, and January, 1880, were funded into 7 per cent notes. In the
year 1878 tin; gross earnings were $288,647 and net earnings $171,789,
but recently the company has shown a large increase in earnings. The
land gi ant is about 1,000,000 acres, and land sales have been active.
grant, was
Div.
Little Miami Railroad proper extends '
the portion between Xenia and
for the remainder of the main
Xenia road, Columbus to Xenia, is used.
May, 1890
May, 1884
May, 1898
Aug. 1, 1918
May, 1891
April, 1901
Sept., 1901
branches, Ac., was leased to the Pittsburg
road Company for 99 years, renewable forever.
The
Railroad Company is a party to the contract and guarantees
ful execution. Road is now operated by Pennsylvania Company.
rental is 8 per cent on capital stock, interest on
annum for Little Miami Company’s expenses of organization;
ment of the lessor’s lease obligation is also stipulated. Gross
published in the Chronicle,
1878-9
Net
Total receipts
$1,617,949
Gross
Earnings. p. ct. Operating expenses.
expenses
1,279,590
Earnings.* $2,783,633
10
58,912,500 $6,046,495 3,206,897 9
Net earnings
$338,359
302 33,388,877
69,902,718 7,049,647 3,325,215 5ia
1875-6..
Payments other than for construction w ere as
follows:
1878-9.
301
16,657,397
86,712,311- 6,488,037 3,075,811 4
1876-7..
303 13,718,758 112,557,966
5,532,738 2,935,344 4 Transportation expenses
1877-8..
$1,279,590
5,932.325
303 15.082,571 150,540,605
1878-0..
Interest
20o, 1 / 3
Does not include receipts from interest, &c., which are large.
Rentals of other roads
193,304
—(V. 28, p. 95 ; V. 30, p. 91, 219.)
Proportion of earnings for other roads and
107,660
ferries
Little Miami.—Road operated is as follows: Main line, Cincinnati to
138,350
Funded
debt
Columbus, Ohio, 120 miles; branches—Xenia to Springfield,
Ohio,The
19 Floating debt accrued previous to appoint¬
L96 miles.
miles; Xenia, Ohio, to Richmond, Ind., 57 miles; total, 19
31,799
Years.
April, 1880
Au{?., 1895
Oet. 1, 1889
Q.—J.
7
1,250,000
2,646,100 3^ A ^x
7
468,000
50
500
500 &c.
500
100 Ac.
500
500
500
Lawrence.- Lawrence
1873.
2,650;000
1,000
^
„
J.
J.
J.
A.
J.
J.
,
4,096,000
50
...
1877
Where Payable,
Whom.
Payable
When
Rate per
Cent.
$100,000
$....
1874-5. 1874-56
1st mortgage,
discovered In tbese Tables.
Bonds—Princi
by giving Immediate notice of any error
confer a great favor
Subscribers will
35
BONDS,
RAILROAD STOCKS AND
June, 1880.]
ment of
receiver
1877-8.
"*
°
$1,524,932
1,019,000
$505,932
1877-8.
$1,019,000
196,606
145,614
39,400
20,000
104,688
$1,506,328
$1,955,878
In the year 1878-9 payments of $111,240 were made on account of con¬
struction and equipment. Earnings for five years
past wrere as follows
Gross
Net
Years.
Miles.
Earnings.
Earnings.
199
$828,840
$213,504
320
1,149,897
398,736
323
1 473,178
412,701
187718:::::::::::::::::::::::::: 323
1:497,914
497,89*
325
1,559,976
1878-9
280,61
Total
—(V. 28, p. 378 ;
V. 30, p. 65,
322.)
RAILROAD
36
Subscribers will confer
a
STOCKS
Louisv.Gin. <£- Lex.—Louisv. l’n(to Louisv. A Frankf.)
Louisville Cincinnati A Lexington, 1st mort
New mortgage, coupon, for $1,000,000
Louisville <£ Nashville— Stock
Louisville loan, main stem (no mortgage)
Lebanon branch, Louisville loan
Lebanon branch, 1st mortgage
1874-56
do
extension, Louisville loan
Cecilian Branch, 1st mortgage
Consolidated 1st mortgage for .$8,000,000
2d mortgage bonds, gold, coup
65
175
175
966
1851
1867
$1,000
1877
100 Ac.
100
1856
1863
*46
392
392
130
83
115
;
1877
1868
1873
1871
1872
1879
1*4 i
McKean & Buffalo—1st mortgage
Macon d- Augusta—1st mortgage
Madison d- Portage—1st mort., gold
Mahoning Goal.—1st mortgage, coupon
Maine Central—Stock
Extension bonds, 1870, gold
Maine Central loan for $1,100,000
Leeds A Farmington Railroad loan
18
109
36
30
Androscoggin Railroad, Bath City loan
Portland & Kennebec, 1st mort., extended
do
do
consolidated mortgage....
Manchester' & Lawrence—Stock
1,600
7.070,000
1,000
2,000,000
3,500,000
2,270,770
1,600,000
2,800,000
492,200
4,000,000
3,000,000
3,000,000
600,000
398,000
400,000
600,000
1,480,000
3,603,300
3,903,^00
1,100,000
...
10*6
Ac.
71
71
26
i*oo
188*0
■
20'
1,000
1,000
1,000
....
1875
1867
1870
1872
.
„
1872
1860-1
1870
1868
1871
1861
1863
1865
1.000
100
100 Ac.
100
500
100
300
100
100
100
Ac.
Ac.
Ac.
Ac.
Ac.
Ac
Ac.
100
....
Lexington.—Line of road—Louisville, Ky., to
.<■
-
26
-
-
26
-
Apr. 29 %- 29
May 30
J’ne
-
30
30%- 3D%
July
Aug. 28%- 28%
Sept 29%- 29%
-
-139
59%- 47% 164%-115
-120
62%- 51%
63% 51
5634- 52
63% 54%
76%- 62%
89 %- 76%
89 %- 84
40%
1879.
1880,
450,476
4 30,638
421,579
396,083
647,671
576,638
605,000
425.750
627,600
443,749
527,214
609,578
697,033
-
Condensed balance sheet, June 30. 1879, showed the following resources:
Total cost of road to June 30, 1879
$24,865,647
Due from transportation department
$309,609
Sundry railroad bonds
Sundry railroad stock
522,816
1,281,861
Company stock
84,000
68,130
Sundry railroads and persons
278,492
Real estate, timber and quarry lands
938,178
South A North Ala. RR. Second Mortgage bonds. 1,000,000
Suspended interest S. & N. Ala. RR. 2nd rnortg...
70,000
South A North Alabama Railroad Co
810,017
Nashville A Decatur Railroad Company
421,872
Shop and fuel stock
:
507,047
Cash
310,844—
Gross
/ 4—o
1875-6..
1876-7
1877-8
ib
920
..
920
941
966
972
..
-
6,602,870
Net
Earnings.
$1,682,132
Div.
p. c.
-
C?
placed
'
»• -
-y, -
y
M
A 1 *
85
-7
V ^ V)-*- *.VI
the New York Stock Exchange List in November,
1879, an 1 afterwards it was reported that a purchase hail been made of
a controlling interest in the stock by
Mr. Standiford, President of the
Louisville A Nashville Railroad, R. S. Veech, Hon. Isaac Caldwell and
was
on
London, Baring Bros.
do
do
do
....
do
do
do
Y., Central Trust Co.
Mar. 1,
1907
April, 1898
Nov.
1, 1832
Dec., 1901
Aug., 1902
Dec. 1, 1919
1884
Oct. 1, 1884 ‘
....
6
2%
7
7
7 g.
7
r
m
m
•
496,500
756,800
633,000
425,000
217,300
1,166,700
1,000,000
m
Q.-J.
J.
J.
A.
J.
A
A
A
A
J.
J.
O.
J.
New York. Treasurer.
April, 1880
Buffalo, Manuf.ATr.Bk. Jan. 1, 1905
1887
N.Y.,M.K. Jesup,P.ACo.
New York.
Jan., 1902
N.York, Union Trust Co. Jan. 1, 1902
m
7
6
6 g.
7
6
6
6
6
5
A. A O. Bost., Nat. B’k Com'rce.
M’nthly Boston, 2d Nat. Bank.
April i,
A. A O.
J. A J.
T. A J.
Portland,' 1 st Nat. Bank.
Q.-J.
Boston, 2d Nat. Bank.
Oct., 1900
July, 1898
July, 1901
July, 1891
April 1, 1883
Oct. 1, 1895
May 1, 1880
do
do
do
do
A. A O. Portland, 1st Nat. Bank.
A. A O. Boston, 2d Nat. Bank.
M. A N. Manchester and Boston.
1912
1890 to 1891
Madison <& Portage— Madison, Wis., to Portage City, Wis., 39 miles.
The road was opened in 1870. The stock is $394,300. The road is con¬
trolled and operated by the Chicago Milwaukee & St. Paul, and was
sold in foreclosure to that company April 6, 1880.
(V. 30, p. 357, 375.)
Mahoning Coal.—Road extends from Andover, O., to Youngstown, O.,
38 miles, and has five miles of branches to coal mines. It was opened
May l, 1873, and leased for 25 years from that date to Lake Shore &
Michigan Southern Railroad, at 40 per cent of gross earnings. Capital
stock is $1,373,000. The L.S. & M. S. Co. holds $287,000 of the bonds.
Net earnings in 1879 (40 per cent of gross), $58,219.
Maine
owned:
Central.—Portland, Me., to Bangor, Me., 137 miles. Branches
Cumberland Junction to Waterville, 73 miles; Brunswick to
Lewiston and to Bath, 32 miles; Crowley’s to Farmington, 47 miles ;
Waterville to Skowhegan, 19 miles ; leased: Belfast & Moosehead Lake
Railroad, 34 miles; Dexter & Newport Railroad, 14 miles; total owned,
leased and operated, 356 'miles. This was a consolidation in 1862 of the
Androscoggin A Kennebec Railroad and the Penobscot & Kennebec.
In August, 1873, the Portland & Kennebec, Somerset & Kennebec and
Leeds A Farmington railroads were also consolidated with the Maine
Central. The annual report was published in V. 30, p. 321.
Comparative statistics for four years are as follows:
1876.
Earnings—
Total gross earnings
Net earnings
...
...
Total income
Disbursements—
Rentals paid
Interest on bonds
Dividends
Other interest, etc
Balance, surplus
Materials, fuel, Ac
Louisville New Albany d Chicago.—New
Albany, Ind., to Michigan
City, Ind., 288 miles. This road was opened in 1852 and sold in fore
stock
1886
Nov., 1880-’S5
Oct. 15, 1893
...
....
1878.
1879.
$
'
1,648,175
$
1,434,688
1,508,377
684,416
644.637
593,983
638,398
$
689,852
$
650,699
$
599,957
$
648,557
54,000
54,000
523,410
54,000
569,381
29,814
64,555
54,000
569,179
26*109
3*845
3,726
38,487
47,180 def.27,269
21,652
502,996
...
1877.
$
1,726,497
$
10,oi9,932
10,018,152
768,333
1,658,541 1,658,541
20,195
20,195
768,333
Bills & acc’nts receivable
4,961,490
1,967,960
5,315,326
2,140,520
i%
3
5,607,598
2,344,242
1878-9
4
5,387,595
2,231,771
—(V. 28, p. 428,477,579,600; V. 29, p. 41, 1 70, 358. 381, 405, 538.
602, 657; V. 30, p. 91, 144, 169, 170, 192, 273, 357, 384, 408, 420, 447,
493,511,519,650.)
..
..
do
do
Louisville.
L. A N. Y., D., M. A Cc.
New York.
L. A N. Y„ D., M. A Co.
New York.
t
^
Railroad, buildings, Ac. .10,006,657 10,006,432
Androscoggin RR. lease...
768,333
768,333
Equipment
1,658,541 1,658,541
Stocks owned, cost
?
on 1 on
41,902
Bonds owned, cost
>
zo,± JO
,
Earnings.
$4,863,873
L.&N.Y., Far: L.& Tr.
Y., Bank of America.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
Total resources
$31,468,518
Earnings for five years past, including leased lines, and So. & No. Ala
Ac., were as follows :
'
Miles.
Jan., 1897
1907
Feb. 2, 1880
1886 A 1887
Assets
Pullman Southern Car
Bills receivable.
Years.
Jan., 1881
do
N.
A. A O. N.
557,083
504,229
419,246
-
-
-
41
86%
-116%
-
70 %- 53% 133
-
Oct
Nov
Dec.
1880.
do
Buffalo.—Larrabee, Pa., to Clermont, Pa., 22 miles. In 1878
earnings were $60,620 and net $40,811. The stock is $387,600.
Hamlin, President, Smetkport, Pa.
Macon d■ Augusta.— Warrcnton, Ga., to Macon, Ga., 78 miles.
Road
operated by Georgia Railroad Co., which endorses $300,000 of the first
mortgage bonds. The Georgia Railroad Co. bought in the road sold at
Augusta, March 2, 1880. (V. 28, p. 501, 579; V. 30, p. 17, 248, 542.)
Paris, Tenn., to Memphis, Tenn., and to Cecilian Junction, 466 miles in
all; total main line and branches, 651 miles; Barren County Railroad,
11 miles; Nashville & Decatur (leased), 122 miles; South & North Ala¬
bama Railroad and branch, 190 miles; total road owned, leased and
controlled, 973 miles. This statement was prior to the acquisitions
of 1879-80; but in May, 1879, the company purchased the Evansville
Henderson A Nashville (St. Louis A Southeastern), and in
January, 1880,
bought a controlling interest in the stock of its rival line, the Nashville
Chattanooga ASt. Louis Railway. (See V. 30, p. 93.) This company als©
purchased the N. O. & Mobile, and an interest in the Mob. A Montgomery,
the Pensaeola A Selma, the Owensboro & Nashv. and the St. L. A South¬
eastern roads. For the latter purchase the $492,200 Trust Co. certificates
were issued, secured by $800,000 of the E. H. & N.
bonds; they are re¬
deemable any April or Oct. on 30 days notice. A combination
agreement
was also made with the Georgia and Cent. Ga. roads for
operation in close
connection. The prices of stock and monthly earnings have been:
Prices of Stock.
Monthly Earnings.
127
146
164
Y., Bank of Anferica.
McKean d-
27,* *p. *302’;* V. 28,* p.*41,*5*99; V* 29,* p.* 147; V*. 30*, *p.*169.)
1879.
37 - 37
4234- 35
49
41
Dividend.
gross
B. D.
Louisville <£ Nashville.—Louisville, Ky., to Nashville, Tenn.,,185 miles;
total branches to Bardstown, Ky., Livingston, Ky., Richmond, Ky.,
..-
N.
Stocks—Last
Whom.
Lukens Valley.—Millersburg, Pa., to Williamstown, Pa., 20 miles. A
coal road leased and operated by the Summit Branch RR. The lease is
for 999 years from March 1, 1866, and the rental is $62,500 per annum.
road for 30 years, and also with the Cumberland & Ohio (see V. 29, p.
147). Operations and earnings for five years past were as follows:
Gross
Net
Freight (ton)
Passenger
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
213
7..-.
$1,026,159 $224,528
213
15,747,685
21,762,605
205,866
1,011,688
213
15,431,162
26,481,084
1,049,369
256,710
213
13,379,360
27,158,428
978,083
294,160
3 878-9
1878.
J. A J.
J. A J.
A. A O.
F. A A.
A. A O.
Various
M. A N.
A. A O.
M. A S.
A. A O.
M. A N.
J. A D.
F. A A.
J. A D.
Payable, and by
several other gentlemen in Louisville, and their associates in New York
were John Jacob Astor, William Astor,
Robert L. Kennedy, Henry F.
Vaile, Samuel Sloan and others.
All these holders of the stock are
friends of the Louisville & Nashville Railroad, and it was stated
they
would manage the road so as to give to the Louisville A Nashville Rail¬
road a thirteen hours connection with Chicago.
(Y. 29, p. 511, 657; V.
30 p. 434, 466, 519.)
Lexington, Ky., 94 miles; Junction to Newport, Ky., 81 miles; leased:
Newport, Ky., to Cincinnati (O.) Bridge, 1 mile; standard gauge track
at Louisville, 4 miles; Lexington, Ky., to Mount Sterling, Ky., 34
miles;
total owned and operated, 214 miles. The old road was sold in fore¬
closure Oct. 1, 1877, to the second mortgage bondholders, and this com¬
pany was organized. The stock is $496,011 common and $1,374,762
preferred. In 1879 important contracts were made, leasing the Shelby
-
333,000
1,000,000
1880
77
39
43
304
304
55
1st mortgage, consolidated
Bonds ($1,100,000 loan) A. A. K. RR..
225,000
88,000
1,000
1880
284
284
20
22
mortgage
Lykcns Valien—Stock
1877.
6
7
7
3
6
6
7
6
7
7
7 g.
7
6 g.
6 g.
6
6
6
9,052,956
£200
£200
1879
1st
Jan
Feb
Mar.
Rate per
When Where
Cent.
Payable
$100,000
3,000,000
275,300
1,000
1,000
1,000
1863
....
Louisville New Albany <£• Chicago—Stock
—(V.
Outstanding
1,000
....
....
New Orleans A Mobile RR
Louisville Cincinnati d-
[VOL. XXX.
INTEREST OR DIVIDENDS.
Amount
850,000
Memphis A Ohio, 1st mort., sterling, guar
Memphis & Clarksville br., 1st mort., sterling
Mort. on Ev. Hen. A .N., gold, (for $2,400,000)...
Debenture bds (sec’d by Nash. & C. stock in trust).
Trust Company certificates
on
BONDS.
great favor by giving Immediate notice of any error discovered In tbese Tables*
DESCRIPTION?
Miles Date
Size, or
For explanation of column headings, &c., see notes
of
of
Par
on first page of tables.
Road. Bonds. Value.
Bonds
AND
Cash on hand.
Miscellaneous items
Total
*
1*58*7*8*6
94,262
207,684
244,489
112,661
151,353
37,427
136,777
129,591
95,785
-
106,547
20,821
13,048,676 12,876,246 12,751,566 12,686,851
$
$
$
Stock, common
3,602,200 3,620,100 3,620,100 3,620,100
Stock of P. A K. RR
*
63,600
13,700
Bonds (see Supplement).. 7,703,584 8,706,011 8,708,942 8,764,2*1*9
Bills payable
928,920
12,959
All other dues A accounts.
*5i*20i
122,754
40,500
*34,22*3
Miscellaneous
6,104
18,86.1
Profit and loss
3*69*065
608,757
479,130
328,3*0*9
Total
,.13,048,676 12,876,246 12,751,566 12,686,851
(V. 28, p. 325 ; V. 30, p. 321.)
Manchester & Ijawrence— Manchester, N. II., to Methuen (State line),
22% miles; Methuen branch of the Boston A Maine Railroad, 3% miles;
total miles operated, 26. Road in operation since T849. Formerly
operated with the Concord RR. as one line, on a basis of two-fifths of the
joint earnings. Methuen branch is leased at a rental of $11,000 per annum.
Company lays claim to a two-fifths interest in the Manchester A North
Weare RR., which is operated by Concord RR. Ten per cent dividends
are paid.
Gross earnings in 1878-9, including amount received from
Concord Railroad on account of joint business, $164,998; net earnings,
$100,411. In 1877-8 gross earnings were $171,777, and net earnings,
$100,459. (V. 28, p. 598.)
Liabilities—
Junh, 1880.]
Subscribers will
confer a great
favor by giving
DESCRIPTION.
3
on
first page
of
do
do
Value.
1861
1861
1866
188
mortgage.
3d mortgage.
2d
4tti mortgage.
•
-
-
-
,p
_
.
_
1870
1873
....
-
1866
....
ioo
.
do
Marietta Pittsburg <2 Cleveland—Funded
Marquette R. A O — 1st mort., I’d gr.,
do
5*2
•
(guar, by
debt
Manhattan)
sinking fund
1st mortgage,
HMSUOti
i os *•••
*
50
88
117
292
181
272
292
133
133
1872
1878
1880
284
284
103
1,000
1,000
25
1854
1867
1877
1877
1877
.
14
1,000
1,000
First three
months
Second three
Total net
months
earnings!
F.
F.
M.
J.
A.
M.
J.
J.
M.
J.
750.000
7
8
6
6
5,312,725
1,264,000
....
a,
m
m
.
a,
J. & J. N. Y., Company’s office.
M. & S. New York, City Bank.
J. & J. Boston and New York.
....
m
& N. N. Y.,
250,000
8
4
Janu’ry
6,500,000
100
8,500,000
4,000,000
18,738,204
1857
1857
1872
1870
1,000
1,508,500
1,000
437,000
1,000
1,000
8,000,000
1,900,000
March
& A. Balt., R. Garret & Sons.
London.
& A.
& N. Balt., R. Garret & Sons.
do
do
& J.
do
do
& O.
do
do
& N.
do
do
& J.
& D. Balt., Merch. Nat. Bank
do
do
& N.
do
do
& J.
2,600,000
1,000,000
1,958,000
1,0( 0
Jan.
S.
M.
J.
J.
M.
1879
7
7
7 g.
2ie
6
6
4
8
8
7
8
& J.
& J.
& N.
Q.-J.
R. T. Wilson &
do
do
do
do
N.Y.,
Co.
1,
1897
i, 1.899
Aug. 1, 1891
Aug. 1, 1891
May 1, 1896
July 1, 1890
April, 1908}
May 1, 1896
Jan., 1879
1, 1904
May 1, 1879
Jan. 1, 1900
Dec.
Junei,1892
Mar. 1.
Jan. 1,
1908
1900
Mayl, 1880
Jan. 1, 1885
Jan. 1.
1915
H.Talmadge &Co. rearly-’81-’83
do
New York,
do
Office.
J. & J. N.Y., Central Trust Co.
do
do
M. & N.
F. & A. Grand Central, Office.
A. <fc O. N. Y., Union Trust Co.
do
do
A. & 0.
do
do
M. <fc N.
do
do
J. & J.
July, 1907
July 1, 1880
July. 1908
Nov. 1, 1899
Feb. 2. 1880
1,1882
1,1882
Mayl, 1902
Oct.
Oet.
Jan. 1,1890
7*
LINES (N. Operating
Y. ELEVATED).
Earnings.
expenses.
$687,016
645,551
354,167
$334,973
ct. per annum
Net
earnings.
$352,e42
291,384
$643,427
«.
Expenditures.
Interest on $8,500,000 bonds six months
Dividend on $6,500,000stock, at 10 per
7*
3,530,000
1,760,000
2,482,200
1,500,000
1,000
consolidation, Feb., 1880, of the New
the Manhattan Bcacli Improve¬
The N. Y. & M. B. leases the New
RR.,and guarantees interest on its bonds and
Broadway, N. Y. City. (V. 30, p. 493.)
Manhattan Elevated—This is a corporation formed to lease and operate
the two elevated railroads in New York City. Its capital stock is $13,000,000, and it guarantees 6 per cent per annum on $21,000,000 of
bonds and 10 per cent on $13,000,000 of stock of those companies beforo
its own stock can receive anything. The following statement shows the
business of the Manhattan Co. during the six months ending March 31
NINTH AVENUE
750,000
1,243,400
1878
Manhattan Beach.—This is a
York & Manhattan Beach Railway Co.,
ment Co. and the Marine Railway Co.
York Bay Ridge & Jamaica
stock. Austin Corbin, President, 115
THIRD AND
M. &
7
8
8
7
4
7
4
300,000
1,000
250 «fec.
100
Whom.
& J.
7
7 g.
Stocks—Last
Dividend.
Payable, and by
....
1,125,000
....
Where
....
2,450,000
1,050,000
2,500,000
3,000,000
4,000,000
....
’
800
284
Michigan Central—stock
1st mortgage, convertible,
convertible
Consolidated mortgage (for $10,000,000).--.
Michigan Air Line mortgage..
-
-
1,000
....
■
M.& O., cou
New mortgage
Mass. Central—New mort., gold, (for$3,500,000)...
Memphis & Charleston—stock
1st mortgag3, Ala. & Miss. Div., convertible
2d mortgage
Consol. M.,g. ($1,400,0001st M. on 91 m.inTenn.)
Memphis <2 Little Ilk— 1st M. (paid $50,000yearly)
General mort., land grant, (s. f. $10,000 after ’82)
Metropolitan Elevated (N. Y. City)—Stock
1st mortgage
2d mortgage
1869
30
M. & C
1st mortgage
1st mort., guar, by
Cincinnati & Baltimore RR., stock
do
do
When
Payable
J.
7
13,000,000
69781
dollar.
Cent.
500,000
300,000
600,000
....
44
188
Rato per
$5,200,000
500 &c.
100
1879
....
Manhattan Elevated—Stock.
Marietta <2 Cincinnati—1st mortgage,
1st mortgage, sterling.
Outstanding
$100
1,000
1877
12
12
Amount
Par
Road. Bonds
of tables.
r
2d mort., conv.,
Size, or
Date
of
Milos
-
Bonds—Princi¬
Immediate notice of any
error discovered In these Tables.
INTEREST OR DIVIDENDS.
pal,When Due.
$297,500
325,000
and road sold June
13,1877. The
property
in the
hands of
trustees
purchasing
Morton,has
tru been and
Field, John Patou and Isaac
committee, and will soon be reorganized.
Cyrus W.
(Y. 30, p. 273.)
Mich., to L’Ause, 63
This
miles.
Ontonagon.
Railway and the Houghton & Ontonagon Railway. The company made
default
its bonds, and issued the present 6 per cent bonds in exchange
for prior 8 per cent bonds. The stock is $2,306,600 common and
$2,259,026 preferred. The lands amount to 425,000 acres, mostly tim¬
and mineral lands, and the freights of the company are mainly of
iron
Operations and earnings for several years have been as follows:
Freight (ton)
Gross
Net
Passenger
Marquette Houghton
was a
<2 Ontonagon—Marquette,
25 miles; total main and branch lines, 88
consolidation August 22,1872, of the Marquette &
miles; branches,
on
ber
ore.
Mileage.
Earnings. Earnings.
14,081,901
$718,904
$311,475
1,208,906
14,236,087
680,422
331,788
1,170,748
15,478,293
675,732
346,063
1,030,290
15,816,466
566,453
299,182
1,130,678
15,124,336
552,671
277,157
88
Massachusetts Central.—Leased March, 1880, to Boston & Lowell for
25 years, at a rental of 25 per cent of gross earnings, and to be com-'
pleted as specified by Nov. 1, 1881. (V. 30, p. 222, 248, 322, 650.)
Years.
Miles.
88
88
88
88
Mileage.
1,386,303
Charleston.—Memphis to Stevenson, Ala., 273 miles;
14 miles, to Florence 5 miles; total length 292
leased June 2,1877, to the East Tennessee Vir¬
ginia & Georgia Railroad for twenty years from July 1, 1877. The
Surplus
lessees were to operate the road on their own account and apply the net
SECOND AND SIXTH AVENUE LINES (METROPOLITAN).
Operating
Net
earnings to interest and pay the balance, if any, to the lessors. The
Earnings.
expenses.
earnings. lease was terminable on 6 months’ notice and was modiflediin December*
the M. & C. Company giving up their right to terminate the lease*
First three months
$443,495
$214,729
$228,765 1879,
and the lessees agreeing to buy the coupons for three years-following In
186,907 case
■Second three months
478,172
291,265
the M. & C. earnings should be insufficient to pay them. \Of the new]
consolidated mortgage, $1,400,000 is secured by the old Tennessee State
Total net earnings
$415,673
lien for $1,736,906, assigned to a trustee, and a sufficient balance of this
i (MT*€'S»
mortgage is reserved to take up first and second mortgages. In March*
Interest on $8,500,000 bonds, six months
$255,000
1880, 15,150 shares of stock held by city of Charleston were sold to
Dividend on $6,500,000 stock, at 10 per ct. per annum 325,000
Newell, Duncan & Co., of Nashville, at 38^ Earnings for five years
Fixed charges
622,500
$20,927
Memphis &
branch to Somerville
miles. This road was
Earn’gs. Net Earn’g
$580,000 ¥ast were as follows:
Miles, Gross
$183,4951
$1,063,326
292
321,230
The following table shows the result of the Manhattan Company’s 1874-5
1,033,366
1875-6
292
317,523
business for the six months ending March 31:
961,350
1876-7..
292
307,445
Six months’ total net earnings
$1,059,100 1877-8
989,857
292
231,038
Six months’ total fixed charges
1,202,500 1878—9
862,513
292
Deficit
$143,400 —(V. 28, p 22i; V. 29, p. i.8, 382, 608, 631.) to >petield, Ark., 133j
Memphis <2 Little Rock.—Little Rock, Ark.,
For full details in regard to the company and its leased lines reference
should be made to the following pages : V. 28, p. 553, 579, 649; Y. 29, miles. ‘ Default was made on the coupons Novemljer, 1872, and the prop¬
erty sold in foreclosure. The new company also defaulted, and the road
p. 244, 407,459,511; V. 30, p. 144, 357, 385, 408, 544.
sold and reorganized April 28, 1877. The stock is $1,500,000. In
Marietta <2 Cincinnati— Ludlow Grove, O., to Belpre, O., 187 miles; 1878 gross earnings were $443,764; net earnings, $116,417. The com¬
branches, 88 miles; lines leased and operated, 37 miles; total operated, pany has a land grant from Congress of 1,000,000 acres, of which about
312 miles. The company made default on the fourth mortgage bonds, 150,000 acres have been certified to it. The general mortgage carries 8
and the road was placed in the hands of Mr. John King, Jr., of the Balti¬ per cent interest after July, 1882. In April, i880, control or this com¬
& Ohio, June 27, 1877. The Marietta & Cincinnati Co. guaranteed pany was purchased by the St. Louis & Iron Mountain. See V. 30, p
the stock and bonds of the Baltimore Short-Line Railway, and when in 466. R. K. Dow is president, Little Rock, Ark. (V. 29, p. 657; Y. 30, p.
default
its own bonds this rental of the Baltimore Short-Line and the 192, 466.)
rental of the Cincinnati & Baltimore Railroad were paid by order of the
Metropolitan Elevated — This was formerly known as the Gilbert Ele¬
court, as the securities of these roads were mainly held by the Baltimore vated
Road, and is now leased, together with the New York Elevated, to
Sc Ohio Railroad. The bondholders of the Marietta & Cincinnati Co.
the Manhattan Railway Company, at 10 per cent on the stock and in¬
have complained bitterly against the policy of the Baltimore & Ohio Co.
terest
the bonds. Mr. Elnathan Sweet, Jr., an assistant of the State
towards this road (see V. 29, p. 170). The capital stock is as follows:
First preferred, $8,105,600; second preferred, $4,440,100; common, Engineer, made a report in January, 1880, on the result of an examine
tion of the elevated railroads of New York, which he was requested to
$1,386,350. Very little information has been given in regard to the make by a sub committee of the Hepburn Investigating Committee. He
operations of the company since 1875; but in November, 1879, Mr.
York Loan & Improvement Company expended
.John King, Jr., receiver, filed his special report covering the period of reported that the New
in the construction of the Metropolitan Elevated Railway up to Sep¬
his receivership of that road—from June 20, 1877, to October 31,1879.'
tember 30, 1879, the sum of $10,828,790.
It is Mr. Sweet’s opinion
of this report is as follows: Since the appointment of the that
$2,228,042 of this sum is not chargeable properly to the con-i
receiver the earnings have amounted to $3,820,971 aim the expenses to
stmetion account.
In one part of Ills report Mr. Sweet says:
$3,018,216, leaving excess of earnings over working expenses $802,754.
what the New York Loan & Improvement Company paid
Let
this is to be deducted the following expenditures:
$6,500,000 of Manhattan stock, $8,500,000 of the first mortgage
.*
For taxes....
$113,812 for
bonds and $6,500,000 of the stock of the Metropolitan Company, repre¬
Rent Cincinnati & Baltimore road
$260,521
senting the whole property and the only lien upon it." Mr. Sweet tuen.
Less amount received from Cincinnati & Springfield
the financial statements of the company, and comes to the con¬
Co. for
of Cincinnati & Baltimore ro.ad
91,653—168,868 analyzes
that they paid for the above-named securities $9,639,142.
For rent of Baltimore Short-Line road
292,533 clusion
ending Oct. 1,1879, the operations were as follows: Miles
Rent of track paid Indianapolis Cincinnati & Lafayette Co
9,588 ing the year
7: passengers carried, 16,069,489; gross receipts, $1,285,980;
98,635 operated,
Rent of depot and grounds leased at Cincinnati
expenses, $709,529, net earnings, $576,455. See Manhattan*
41,825 operating
Coupons of Scioto & Hockimg Valley RR (Portsmouth Branch).
above. (V. 28, p. 42, 112, 253, 327, 526, 553, 579; V. 29, p. 42,407, 511*
Rent of land elsewhere than Cincinnati upon the line of the
656; V. 30, p. 144, 169, 357, 385, 409, 519, 544, 589.)
road, and mis cellaneous items
11,820 631,
$737,082
Michigan Central.—Detroit, Mich., to Chicago, Ill., 284 miles, including
14 miles of the Illinois Central track used for entering Chicago; leased
—Showing that the net earnings, after deducting taxes and rents during lines: Michigan Air Line, 104 miles; Jackson Lansing & Sagiuaw, 236
the period stated, were $65,672.
The suit for foreclosure is moving miles; Grand River Valley, 84 miles; Kalamazoo & South Haven, 40
slowly on. (V. 28, p. 401, 452; V. 29, p. 170, 608 ; V. 30, p. 43, 169, miles; Joliet & Northern Indiana, 45 miles; total leased lines, 520
567, 589.)
miles; total operated, 804 miles. The leased linos have been largel
Marietta Pittsburg <2 Cleveland.—Marietta, O., to Canal Dover, 100 assisted by the Michigan Central Company, and prior to 1872 the Mich!
miles. Road opened May, 1874, and receiver appointed August 7, 1875,
Fixed charges
ears.
was
more
on
on
A summary
“
From
use
us see
>AD
Subscribers will confer
a
STOCKS
Date Size, or
For explanation of column headings, <fcc., see notes
of
Par
of
on first page of tables.
Road. Bonds Value.
Miles
Michigan Central—(Continued)—
Michigan Air Line 1st mort.,assumed by M. C—
Equipment bonds-.M. C. bonds, mart. on Grand River Valley RR.
Kalamazoo & South Haven, 1st mort., guar
10
....
82
39
39
84
..
do
Grand River Valley,
do
do
2d mort.,
1st mort., guar.
stock, guar
guar
5
Bay City 1st mortgage, endorsed
do
mortgage (not guar M.C.)
Jackson, Lansing <fc Saginaw 1st mort
' coup.
1st mort.
Cons.
(N. of Win.),
conv.
V
118
118
116
may
....
whole line (300m.) J ber’g
Middletown Unionville t£ Water Gap—1st mortgage.
Midland of New Jersey—Stock, common
First mortgage
Income
236
13
m. on
.
bonds, class A
do
do
class B
Milwaukee Lake Shore & Western—1st in.,
Milwaukee & Northern—1st mortgage
Mine Hill <6 Schuylkill Haven—Stock
Mineral Point—1st mortgage
1875-6.
gold.
..
mortgage, gold, coup. (Al. Lea to Fort Dodge)
Mississippi d Tennessee—1st mortgage, series “A”.
1st mortgage, series “ B,” (a second lieu)
Missouri Iowa <£ Nebraska—1st mortgage
Missouri Kansas & Texas—Stock
1st m., gold, sink, fund, on road and land
1st mortgage, gold (Tebo. & Neosho)
.
.
.
(U.P.S.Br)
Consolidated mortgage, gold, on road and land...
$1,000
$200,000
1,000
556,000
1879
1,000
1,000
1,000
1,000
500,000
640,000
1869
1870
1866
*
1872-3
1872
.
.
1,000
1,000
1,000
....
....
....
....
....
1875
1870
1868
1877
1877
1877
1879
1877
1877
1870
1,000
500 &c.
1,000
1,000
1,000
1,000
1,000
100
...
1868
1870
1871-3
1,000
1,000
1,000
Central was a regular dividend paying company. The Vanderbilt
party took possession in June, 1878. The most conspicuous feature
in the company’s later reports has been the loss of net income arising
from the large decline in freight rates on through business. The last
annual report was published iu the Chronicle, V. 28, p. 473. The fiscal
year of the company formerly ended with the month of May; in 1877 it
was changed so as to end with the month of December; but in the com¬
parisons here made between 1879, 1878 and 1877 the full year in each
case is given to make the comparison a proper one:
gan
OPERATIONS ANI> FISCAL RESULTS.
Operations—
Passengers carried
Passenger mileage
1877.
Rate per passenger per
Freight
1,400,847
79,805,454
1,373,530
79,684,072
2*36 cts.
2-41 cts.
mile.
(tons) moved
Freight (tons) mileage
Average rate per ton per mile
Ear nings—
2,937,570
446,708,939
0 982 cts.
Passenger
Freight
1,881,581
4,387,839
292,015
Mail, express, &c
Total gross
1878.
earnings
Operating Expenses—
Maintenance or way, &c
Maintenance of equipment..
Transportation expenses....
Taxes
Miscellaneous
....
Total
Net earnings
Per ct. of op. exp. to earu’gs.
2,786,646
548,053,707
1879.
1,445,655
93,232,430
2-21 cts
3,513,819
721,019,413
0-848 cts.
0*692 cts
1,918,609
2,062,26c
4,986,988
297,54.
4,646,248
307,237
6,561,435
$
778,948
627,624
2,357,529
302,742
441,639
6,872,094
$
854,554
648,718
2,296,394
4,508,482
4,367,238
2,052,953
2,504,856
4,699,592
2,647,202
68-71
63-55
63-97
204,497
363,075
7,346,794
$
904,613
623,730
2,455,164
201,682
514,403
INCOME ACCOUNT.
1878.
Receipts—
Net earnings
Interest and dividends
Total income
Disbursements—
Rentals paid
Interest on debt
Dividends.
$
2,647,202
2,624.520
2,715,836
184,310
184,310
1,403,472
$'
Chicago <fc Mich. Lake Shore (worthless)
Balance, surplus
...
Total
1879.
$
2,504,856
119,664
68,634
$
1,431,640
(4) 749,528 (5^)1,030,601
97,840
161,202
97,453
2,624,520
2,715,836
The only charge to • construction during the year was $10,000 for land.
Included in operating expenses are the following items: $50,000 for new
and additional cars; the cost of 5,000 tons steel rails in excess of value
of iron, and renewal in iron of wooden
bridges at a cost of about $50,OOO. The road, equipment and property have been
fully maintained at a
high standard.
The Jackson Lansing & Saginaw debt is assumed
by Michigan Central,
which also pays $70,000 per year on the stock of $1,966,800, one-third
of which it owns; the proceeds of J. L. & S. lands
go to pay bonds.
Interest was.passed on the Detroit and Bay City bonds, not
guaranteed,
November, 1875. Operations and earnings for six years past were as
follows:
Years.
1874-5
Miles.
800
803
Passenger
Mileage.
~~~
Freight (ton)
Gross
Mileage.
Earnings.
z
Net
Earnings,
318,366,003 $7,102,286 $2,034,189
396,046,422
6,850,964
2,048,062
473,837,807 6,498,127 1,791,685
252,373,503 3,903,514
1,312,499
548,053,707 6,872,094 2,504,856
721,019,413 7,346,794 2,647,202
Div.
p. c.
...
86,847,889
93,830,515
1877*
803 51,354,147
803
79,684,072
2
803 93.232,430
3b?
*
Seven months only.
—(V. 28, p. 473, 599; V. 29, p. 330, 511, 657; V. 30, p. 491.)
Middletown Unionville & Water Gap.—Middletown, N. Y., to Union¬
ville, N. J. State Line, 13 miles.
Road opened June 10, 1868. Is leased
to the New Jersey Midland Railroad at a rental of 7
per eent on stock
<$123,850) and interest on bonds. G. Burt, President, Warwick, N. Y.
803
...
...
...
M.
M.
J.
J.
M.
M.
J.
M.
M.
8
8
8
8
7 g.
Where Payable, and by
Whom.
& N.
& N.
& J.
& J.
& N.
& N.
& J.
& N.
& S.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Bond 8—Priii ci*
pal, When due.
Slocks—Last
Dividend.
Nov. 1, 1890
April 1, 1883
1909
Nov. 1, 1889
Nov. 1. 1890
July 1, 1886
Jan., 1880
May 1,1902-3
1902
July 1, 1885
May 1, 1890*
Sept. 1. 1891
18S6
•
,...
....
750^000
....
When
Payable
M. & N. N. Y... Union Trust Co.
A. & O.
do
do
M. & S.
do
do
8
8
6
8
8
8
2Lj
8
491,200
424,000
1,906,000
1,024,000
514,000
1.943,000
400,000
2.500,000
3,000,000
2,500,000
3,500,000
1.000
50 &c
50
....
-
70,000
....
....
Rate per
Cent.
1,000,000
„
1865
1870
1871
1866
....
786
Outstanding
1870
....
127
126
140
51
27
93
15
102
100
100
85
786
182
100
...
Minneapolis <& St. L.— 1st M., Min. to Merriam June.
1st mortgage, Merriam Junction to Albert Lea
1st mortg., Minneapolis to White B. Lake, guar..
1st
[Vol. XXX.
INTEREST OR DIVIDENDS.
Amoimt
1874
100
Detroit &
do
do
do
BONDS.
great favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
do
AND
7
8
2,134.000
4,022.500
320.0(H)
455,000
8
7 S’
J.
J.
J.
J.
J.
J.
M.
J.
A.
J.
J.
6 g7 g.
7 g.
J. & J. N. Y., Union Trust Co.
,T. £ D.
do
do
F. & A.
do
do
3%
10
7 g.
7 g.
7 g7
950,000
280.000
1,020,000
976,000
998,000
2,450,000
21,405,000
2,316,000
349,000
8
14,752,000
&
&
&
&
&
&
&
&
&
&
&
D. N. Y., S. S. Sands <fe Co.
D. N.Y., Merch. Exc. N.Bk.
J. Pliilu.M.H. <k S. H. R.Co.
J.
J. N.Y., Continental N.Bk.
D.
do
do
N.
do
do
D.
do
do
O. N. Y., Imp. & Trad. Bk.
J.
do
do
D.
June 1, 1895
Dec.; 1901
Jan. 17,
Jan., 1,
1880’
1890
Jan.
Feb.
1, 1907
1, 1927
Jan. 1, 1907
June 1, 1909
April 1, 1902
July 1, 190S1
June 1, 1910Jan., 1899
June, 1903
1904-1906
themselves of this offer
were allowed to
exchange their common debtsprincipal only of third-mortgage bonds for income bonds, Class B,
on payment of 5 per
cent, and stockholders on payment of 10 per cent
assessment on or before May 1.
Gross earnings in 1878 were $839,703;
net earnings, $122,406.
In 1879 gross earnings. $745,069, all used upin running expenses, renewals, &c. (V. 28, p. 326, 554; V. 29,
p. 252,
538, 670; V. 30, p. 92, 117, 169, 222, 248, 273, 323, 385, 409, 519, 544,
566.)
and
Milwaukee Lake Shore J Western.—This road extends from Milwaukee,
Win., to Tigerton, Wis., 176 miles, and has branches from Manitowoc to
Two Rivers, 6 miles, and Hortonville to Oshkosh, 23 miles.
It is a con¬
solidation of the Milwaukee Manitowoc & Green Bay and the Appleton
& New London railroads.
Road was completed to Clintonville at the
close =of 1878 and extended to Tigerton in 1879; a further extension of
17 miles is rapidly progressing. The company defaulted on the interest
of its bonds in December, 1873, and on December 10,
1875, the property
was sold in foreclosure for $2,509,788 and
purchased by bondholders.
The reorganized company has $5,000,000 preferred stock and
$1,000,000
common stock, and funded debt as
given above. In 1879 gross earn¬
ings were $315,942; operating expenses, $187,983; net earnings,,
$127,959. (V. 29, p. 226; V. 30, p. 84, 144, 464.)
Milwaukee J Northern.—Milwaukee, Wis., to Appleton, Wis., 106 miles;
branch—Hilbert, Wis., to Green Bay. \yis., 27 miles; total road operated,.
129 miles. Opened November 25, 1872.
It is leased to Wisconsin Cen¬
tral at a rental of 37R> per cent on gross
earnings. June 5, 1880,.
foreclosure was made and road sold for $1,500,000. (V. 28, p.454; V.
30, p. 273, 599, 650.)
Mine Hill & Schuylkill Haven.—Schuylkill Haven, Pa., to Locust Gap,..
Pa., 42b? miles. Road was leased May 12, 1864, to the Philadelphia &
Reading Railroad Company for 999 years at a rental of 8 per cent on the
capital stock. There is no debt, and 7 per cent dividends are paid.
Operations not separately reported; included in lessee’s returns.
Mineral Point, Wis.—Mineral Point, Wis., to Warren, Ill., 33 miles ;
branch to Platteville, Wis., 18 miles; total, 51 miles. In 1877-8,
gross
earnings were $125,570; net, $52,300. The stock is $1,200,000. Luther
Beecher, President, Detroit, Mich.
Minneapolis d* St. Louis.—From Minneapolis -to Forest City, 143
miles; branch to White Bear Lake, 15 miles; total owned and operated,
158 miles.
Connects with the Cedar Rapids «fe Northern Railway..
Road was completed in
1877.
Gross earnings for j ear 1878-9,
were $471,344; net earnings, $186,640.
The bonds of the $1,100,000
mort. (1877), numbered from 1.101 to 1,400, for $500 each ($150,000 in
all), are guaranteed bjr the Burlington Cedar Rapids & Northern Rail¬
road. The bonds on the 15 miles were issued by tin
Duluth Railroad befpre it was absorbed by this company.
$2,000,000.
(V.30,
p.
248, 432.)
Minueapolis\fc
Stock issued,.
Mississippi d• Tennessee.—Grenada, Miss., to Memphis, Tenn.,
Capital stock, $825,400.
Stock, $825,400.
Debt
Earnings for five
Years.
1874-5
1875-6
1876-7
1877-8
1878-9
—(V. 28, p. 95.)
100 miles..
consolidated as above in 1877*
years past were as follows:
Gross
Net
was
Miles.
100
100
100
100
100
Earnings.
$455,911
469,272
-
433,440
378,780
373,687
Earnings.
$211,333
241,798
212,768
176,935
169,955
Missouri Iowa & Nebraska— Proposed line, Alexandria, Mo., to Nebraska
City, la., 300 miles; completed line, Alexandria, la., to Corvdon, la.,,
113 miles.
Iu 1877-8, deficit iu operations was $3,125.
Road to be
sold in foreclosure and go into the Wabash St. Louis <fc Pacific system.
The stock paid up is $1,457,225. F. N. Drake,
—(V. 30, p. 298, 385, 520.)
President, Centreville, la.
Missouri Kansas & Texas.—Hannibal, Mo., to Denison, Texas, 576miles. Branches: Parsons, Kan., to Junction City, Kan., 156
miles;,
Holden (Mo. Pae. RR.) to Paola, Kan., 54 miles; total, 786 miles. In
Feb., 1880, the 54 miles, Holden to Paola, was leased to Mo. Pac. Thisconipauy was organized April, 1870, and embraces by consolidation the
Union Pacific—Southern Branch, the Tebo & Neosho and other minor
companies. In 1874 the Hannibal & Central Missouri was purchased.
This company made default on their consolidated bonds in Dec., 1873*.
Midland of New Jersey.—From West End, N. J.,
toJUnionville (New York and was operated by a receiver from Dec. 30,1874, to July 1,1876, when,
line), 71 miles; leased--West End into Jersey City, 4 miles; New Jersey the Union .Trust
Company of New York took possession. In 1879 there*
State line to Middletown, N. Y., 13 miles; total leased and
operated, 88 was a contest for the possession of the road between the Jay Gould party
miles. The New Jersey Midland was placed in the hands of
receivers and the Chicago Burlington <fc Quincy
party, which ended by the success;
March 30, 1875. The road was sold in foreclosure Feb.
1, 1880, and of the former and the election of Mr. Gould as president in
January,.
reorganized as the Midland of New Jersey. Holders of
third-mortgage 3 880. The company had a land grant from the United States estimated
bonds, common debts, and stock of the N. J. Midland Railroad were at 817,000 acres
and from the State of Kansas 125,000 acres. There is
allowed to fund the same into income IkukIs of the new
company, viz.: also a grant in the Indian Territory of 3,622,400 acres subject to the
Common-debt holders and third-mortgage bondholders, for
principal of extinguishment of the Indian title. Two coupons are overdue on the
bonds to receive 50 per cent in income bonds. Class A, and 50
per cent consolidated mortgage bonds.
The Booneville Bridge Company is a
In income bonds, Class B, on payment of 10
cent
per
assessment, and separate organization, and earns interest and proportion for
sinking
stockholders on payment of 15 per cent. Those holders not
availing fund. Prices of stock and monthly earnings have been:
RAILROAD
June, 1880. ]
Subscribers will confer a great
favor by giving Immediate
iirst page
Date
Miles
Size, or
Par
of
of
Road. Bonds Value.
of tables.
Missouri Kansas & Texas— ( Continued)—
786
income, (for $10,000,000)
Booneville Bridge bonds, gold, guar
Hannibal & Central Missouri, 1st mortgage
do
do
2d mortgage ..
2d mortgage,
79 81
notice of any error discovered In
•
Missouri Pacific—Stock
1st mortgage, gold
2d mortgage (sinking fund $50,000 per annum)..
Real estate (depot) bonds
Debt to St. Louis County (no bonds)
3d mortgage
;
:
Carondelet Branch, 1st mortgage
Mobile d Alabama Grand Trunk—Stock
1st mortgage bonds
Mobile d Girard—2d mort., end. by Cent. Ga. RR..
3d mortg. bonds issued to Central R. R. Ga
Mobile d Montg.—Stock
Mobile d Ohio—Stock
New mortgage, principle payable in gold
1st pref. inc. and s. f. debentures, not
2d
do
do
do
3d
do
do
do
4th
do
do
do
m
m
u
70
70
299
283
283
$500&c.
1876
Amount
Outstanding
1,000
1,000
956,000
768,000
1872
1,000
32,000
800,000
100
7,000,000
1,000
1,000
1868
1871
1872
2,573,000
800,000
700,000
500 &c.
■■
299
15h
56
56
85
1876
1873
Montpelier d Wells River—Stock
.
fund
Convertible bonds
Special real estate mortgage
Nashua d Lowell—Stock
Bonds for freight depot (gold)
5^4
-Prices of
1878.
4
.313
3%3*2
3V
2%
2
4%t3
2i«
3%21*2
4L»
3
1877;.
Jan.
Feb.
Mar.
-
.
-
Apr.
May
.
5
-
5U4*25146*2-
J’ne.
July
Aug.
Bept
4 *2
4:*h
4-Lj
6:%
1877
1.86
506
506
506
506
506
506
40
137
84
84
1,000
1,000
4,500,000
100
450,000
1,000
1,000
1,000
1,124,000
100
100
3,022,517
5,320,600
7,000,000
5,300,000
1,850,000
250,000
-
-
2134*8-
6%538
9-6
11
712
1738- 938
18 %- 133*
1518* H%
.
.
.
.
-
-
4V
Oct..
7137*8Nov.
r>v 4%
3
5 7*8Dec.
Annual interest charge now is $933,830.
S. Br. bonds draw five per cent in 1879,
.
n
m
50
250
500 &c.
1864
1866
137
1875
1,000
m
m
«
+
-
vari’us
1871
.
„
*
*
*
-
-
-
-
780
780
780
780
780
V. 29, p.
*
•
•
221,892
258,659
306,329
••••••••
380,759
387,701
387,083
380,028
The M. K. & T. bonds and U. P.
$2,904,925
$1,224,500
3,217,278
1,215,999
3,197,321
952,211
2,981,081
428,833
3,344,291
1,140,439
119, 170, 278, 302, 358, 058 ; Y. 30,
07, 117, 295, 550, 507, 050.)
Missouri Pacific.—From St. Louis, Mo., to State Line of Kansas, 283
miles; branch line, Kirkwood, Mo., to Carondelet, Mo., 13 miles; leased
lines, 127 miles, as follows: Osage Valley & Southern Kansas, 25 miles;
St. Louis & Lexington, 55 miles; Missouri River R. R., 25 miles; Leaven¬
worth Atchiuson <fc N. W., 22 miles; total operated in 1878 423 miles.
In February, 1880, leased also St. Joseph & Atchison branch of Han¬
nibal & St. Joseph Railroad, 19 miles; and the branch, Holden to Paola,
Kan., which, with the St. Louis Kansas & Arizona, built by this road,
makes 112 miles, Holden to Le Roy.
The Pacific Railroad of Missouri
was sold in foreclosure of the third mortgage September 6, 1876, for
the nominal price of $3,000,000, to C. K. Garrison and others, and
this company was organized with a stock of $800,000.
The valhlity
of the sale has been contested, but the. U. S. Supreme Court decided in
present company.
In 1877 the gross earnings were re¬
ported at $3,984,442; net earnings, $1,660,086; but nothing later has
been reported. Default was made on Carondelet Branch bond3 October
1, 1877, and compromise bonds at 50 per cent were offered January,
1878. In November, 1879, a controlling interest in the stock was sold to
Mr. Jay Gould for $3,800,000.
(V. 28, p. 18; V. 29, p. 293, 433, 538; V.
30, p. 192, 222, 273, 322, 409, 544, 650.)
Mobile A- Alabama Grand Trunk— From Mobile, Ala., northwest to
Bigbee Bridge, 56 miles. The stock was $450,000; first mortgage bonds,
$1,124,000. ' City Mobile bonds donated $750,000. The company has
lust been reorganized (see V. 30, p. 222). The plan proposed was to
issue
for the first mortgage
bonds for
cent in stock for the balance; then
the entire line
road. Francis B.
200,000
•
Whom.
Payable
& O. N.
& N.
& N.
& N.
Stocks—Last
Dividend.
Y., Union Trust Co. April 1.1911
do
do
May 1, 1906
do
do
May 1,1890
do
do
May 1, 189
Aug., i888
July, 1891
May 1, 1892
Feb., 1885
J. & J. N. Y., Nat. City Bank.
do
do
J. & D.
F. & A. N. Y., Drexel, M. & Co.
Jan., 1889
June, 1897
6 g.
7
7
7
7
2
J.
313
J.
M
F.
J.
F.
A.
J.
& D.
Yearly.
Yearly.
Oct*'l/1893
Feb..
2, 188u
Mobile and New York.
New York City.
Dec!* 1,* 1927
Boston.
N. Y., Del., Lack &
do
do
Feb., 1880
July 1, 1880 i
May 1, 1914
Aug. 1, 18911
Jan. 1, 1900j
Aug. 1, 1889:
Oct., 1901
Yearly
Yearly.
.
&
&
&
&
&
&
&
J.
N.
A.
J.
A.
O.
D.
do
M. & N.
F. & A.
do
do
do
do
do
do
do
do
do
W.
June
1,1915]
May 1*1880
Aug. 1. 18931
Boston & Nashua.
Boston.
The whole amount of these bonds will
Second.—Deed of trust to the Farmers’ Loan & Trust
York and Mobile.
once.
be issued a
Co., as trua
deben_1
tees, to secure four series of preferred income and sinking fund
tures. wrhich will be issued only to the extent required to meet the
out
after deducting the amount
of such liabilities provided for in and by the new mortgage of $7,000,000*
and the aggregate amount of such issues will not exceed the sum of—
In first preferred income and sinking fund debentures, issued
iu extension of the balance due on first mortgage liens
$5,300,000]
In second preferred income and sinking fund debentures,
standing liabilities of the Mob. <& O. RR. Co.,
1,850,000]
issued in extension of the second mortgage liens
In third preferred income and sinking fund
in extension of the third mortgage liens
In fourth preferred income and sinking fund debentures,
issued iu extension of the unsecured indebtedness
900,000■
These debentures are secured by a deed of trust to the Farmers’ Loan
& Trust Company, covering specifically the
debentures, issued
600,006
lands (including over!
1,150,000 acres of land donated by the United States) and other prop-j
erty not necessary for the operation of the road.
Interest at tne!
rate of 7 per cent per annum, or in multiples of 1 per cent, but
not exceeding 7 per cent in any one year on these debeutnrea*
is payable annually upon each series iu the order of their priority*
but only if earned in the preceding fiscal year, and is non-cunralative.
For each $100 of principal- money of said debentures the
holder of record is entitled to one vote at all meetings of holders.]
of such debentures (which by agreement are to be called iu antici¬
pation of all meetings of stockholders) for the purpose of instruct-1
the Farmers’ Loan & Trust Company, trustees, how to vote at suclt
stockholders’ meetings upon the majority of the stock of the Mobile 6smg
Ohio Railroad Company, the power to vote upon which is irrevocably
with the Farmers’ Loan & Trust Company, until the extinguishment or
said debentures. The foregoing bonds and debentures are issued in for¬
bearance, extension and compromise of the present indebtedness of tbc
Mobile & Ohio Railroad, the entire amount of w hich (excepting less than
1 per cent of the first liens and a very limited percentage of the inferior
liens), with the power and authority to avail of the decrees of tbfr
Circuit Court of the United States, adjusting and establishing said in¬
debtedness, are assigned and transferred to the Farmers’ Loan <fc Trust.
Compaujr, as trustees, for the further security of the bonds and deben¬
tures herein referred to. The capital stock authorized by the charter is
$10,000,000, or 100,000 shares of $100 each, of which
have been
issued 53,206 shares. The debentures are secured by a deed of trust of the
land, about 1,150,000 acres, and receive 7 per cent, if earned. Operations
there
for five years
past were as follows:
Miles.
Years.
529
529
529
529
506
bonds 6 per cent second mortgage
75 per cent of their face and 25 per
to issue a new 6 per cent mortgage for $3,000,000 upon
of 232 miles, which it is estimated would complete the
pal, When Due.
Payable, and by
F. & A. N. Y., Company’s Office.
do
do
J. & J.
do
do
M. & N.
St. Louis.
mont’ly
M. & N. N. Y., Company’s Office.
New York.
A. & O.
.
800,000
100
1873
Where
6 g.
7
8
7
7
6 g.
7
7
7
7
7
7
7
3
6 8-
284,000
573,000
4,991,000
5,050,000
1,025,000
.
p.
favor of the
15,000,000
5,000,000
3,000,000
When
A.
M.
M.
M.
2*3
600,000
900,000
800,000
....
80-81. The annual report was
Earnings for five years past were as follows:
Miles.
Gross Earn’gs.
Net Proceeds.
1875
1870....
—(V. 28, p. 140, 173, 298 ;
-
.
•
....
1879,.
1880.
1880.
4914- 32
$194,453 $367,327
194,855 326,306
48»4- 42
4612- 4l78 224,559 355,508
453s- 3318 180,218 3 48,275
35%- 2818 217,833 274,626
1879.
13%
2114-. 13%
3012- 19
35 %- 20
333s- 27%
•
Monthly Earnings
Stock.-
2
2*8
3*2
4*8
5
•
....
54
16-V 1412
published in V. 30, p. 295.
•
1871
*
2 ig
Years.
1,000
1879
1879
1879
1879
1879
34
m
«
17
Bonds—Princi¬
6
7 g.
7 g.
7 g.
7
8
4
300,000
800,000
1,000
1,000
1,000
m
„
Construction bonds
Gen. m. & 1st on Boonton Br. &c. (guar. D.L.&W.)
Consol, mort. (for $25,000,000) guar. D. L. & W..
1869
Rate per
Cent.
$7,571,553
1873
1870
1
8
7
4
5
6
.
9
69781
cumulative
Morris d Essex—S tock
1st mortgage, sinking
2d mortgage
these Tables*
INTEREST OR DIVIDENDS.
DESCRIPTION.
on
39
AND BONDS.
STOCKS
Passenger
Mileage.
8,745,657
9,044,895
9,004,770
8,715,315
6,968,900
Freight (ton)
Gross
Mileage.
Earnings.
46,396,859
‘
52,319,056
61,388,247
70,706,581
58,339,703
1,984,536
2,072,634
2,098,540
1,830,620
*Net
Earnings.
$
* - -
211,515
163,220
376,321
379,468-
deducting all expenses, including extraordinary.
—(V. 29, p. 41, 120. 250; V. 30, p. 222, 434.)
After
Montpelier & Wells River.—Montpelier to Wells River, Vt., 38 miles.
(V. 30, p. 222.)
Columbus, Ga., to Troy, Ala., 84 miles. Reorganized January, 1877. D. R. 8hortwrell, President, East Cam¬
bridge, Mass. Annual report, V. 30, p. 272. Gross earnings, 1879*
Common stock, $987,064; preferred stock, $279,745, and $12,130 Pike
$84,520; net, $19,558, against $19,681 in 1878. (V. 30, p. 169, 272.) '»
-county stock. Second mortgage bonds are endorsed by Central Railroad
Morris d Essex.—From Hoboken, N. J., to Phillipsburg, N. J., 85 miles;
of Georgia, which company holds also for advances made the 4 per cent
third mortgage bonds. Gross earnings in 1877-8, $175,573; operating branch, Danville, N. J., via Bergen Tunnel, to Hoboken, N. J., 36 miles;
■expenses, $112,274; net earnings, $63,299. In 1878-9 gross earnings total, 121 miles. In 1868 this road wras leased in perpetuity to the Dela¬
The lessees assume all liabili¬
ware Lackaw'anna & Western Railroad.
were $195,907 and net earnings, $60,335.
(Vol. 29, p. 40.)
ties of the Morris & Essex Railroad, and pay 7 per cent per annum on
Mobile d Montgom cry— From Montgomery, Ala., to Mobile, Ala., 179
the capital stock, and they also agreed to pay 8 per cent in case tbe
miles. Default was made on the bonds in 1873 and the road was sold in
Morris & Essex earns 10 per cent on its stock in any one year after tbe
foreclosure November 16, 1874, and purchased by bondholders, who
year 1874. Earnings for five years past w'ere as follows:
■organized this company on a stock basis. The road has done well, and in
Gross
Net
Div’4
November, 1879, $1,530,000 of the stock owned in this country was
Earnings.
Years.
Miles.
Earnings. p. ct.
purchased by parties in the interest of the Louisville & Nashville Rail¬
121
$4,340,351
$1,475,714
7
road at 96, giving the control to that company. The old mortgage debt
121
3,452,319
1,184,723
yet out is $275,000. Gross earnings in 1879, $704,580; net, $228,713.
3,368,441
121
^
1,222,507
—(V. 28, p. 327; V. 29, p. 608; V. 30, p. 169, 247.)
782,328
121
2,710,117
Mobile d Ohio.—From Mobile, Ala., to Columbus, Ky., 472 miles;
121
3,515,097
1,559,354
branches: Artesia, Miss., to Columbus, O., 14 miles; Artesia, Miss., to -(V. 28, p. 451 ; V. 30, p. 566.)
Btarkville, Miss., 11 miles; Muldon, Miss., to Aberdeen, Miss., 9 miles;
Nashua & Lowell.—From Lowell, Mass., to Nashua, N. H., 15 miles;]
total, 506 miles.
In 1880 extension to Cairo, Illinois, 20 miles, to be leased: Stony Brook Railroad, 13 miles; Wilton Railroad, 16 miles;
The company funded coupons from their bonds in February.
built.
Peterborough Railroad, 10 miles; total owned and operated, 54 miles.
1867, and resumed payment of interest May, 1870. In 1872 the second The road was operated with the Boston & Lowell till Oct. 1, 1878, this
mortgage bonds were issued to pay floating debt. A default was made road taking 31 per cent of the joint earnings. Operations and earnings
May 1, 1874, and two trustees and receivers took possession May 8,
Dir.
Net
1875. The stock and bonds of the company were placed on the N. Y.
Freight (ton) Gross
Passenger
Stock Exchange list in July, 1879, and from the statement then sub¬ Years.
Earn’gs. p.e.
Mileage.
Earnings.
Miles.
Mileage.
mitted the following revised description is taken. The new liens issued
7,146,923 $502,325 $133,721 2
54
1875-6....
10,995,583
and to be issued areas follows: First.—New mortgage to the Fanners’
142,063 4,
506,047
7,119,318
54
11,049,587
1876-7....
Loan & Trust Co., of New York, as trustees, upon the main line, excluding
140,306 2
481,358
7,526,444
54
1877-8....
10,832,906
branches, to secure bonds in the aggregate amounting to $7,000,000, 1878-9....
174,207 0
394,387
7,733,360
54
6,610,125
'dated June 1, 1879, due, in gold coin of the United States, Dec. 1. 1879-80
160,152 6%
391,923
1927, interest at 6 per cent per annum in lawful money, represented
-(V. 29, p. '459!)
by coupons^ payable June 1 and Dec. 1 each year, in the cities of New
Clark, President, Mobile, Ala.
Mobile d Girard.—Line of road,
..
..
..
..
..
RAILROAD STOCKS AND
40
Subscribers will confer
a
Miles
of column headings, &c., see notes
on
first page
of tables.
Nashville Chattanooga d St. Louis— Stock
Bonds to U. S. government, 2d mort
Bonds'endorsed by Tenn
New 1st mort. (for $6,800,000) coup
Bonds of N. C.& St. L., 1st mort. on two branches
do
do
1st mort.ou Teun. &Pac
for Jasper Branch
Nashville d Decatur—Stock, gn^r’d f> p. c.. by L. <v&
1st mort. guar. s. f
2d mortgage
do
do
1874-659.
Date
of
of
Road. Bonds
345
340
151
340
75
30
N.
122
122
122
57
Nevada Central—1st mort., gold (sink, f., $20,000)
Newark d Hudson—1 fit, mortgage
Newark Somerset d Straitsv.^ O.—1st mortgage
Newburg Dutf-hess d Connecticut—In com o bonds
_
Newburg d. New York—1 fit, mortgage
New Castle d Bea ver Valley—Stock!
New Haven d Derby— 1st & 2d mortgages
New Haven d Norihamp. (canal RR.)—Stock
Mortgage bonds, coupon
Bonds convertible, tax free, coupon
Holyoke<fcW.,leased, 1st M.<$60,000 6s, ’98 guar.)
Consol, sinking fund and mort. bonds
New Jersey d New York— 1st mort. (for $1,500,000)
N. J. Southerjv—1st mortgage
94
5
44
12
15
13
100
92
•
10
37
78
100
New London Northern—&tock
100
1st mortgage bonds
100
2d mortgage
121
Consol, mortgage (for $1,500,000)
113
N. Y. d Canada—1st M., sterling, guar. D.&H. Can.
New York Central d Hudson River—Stock
1,000
Premium bonds
(N. Y. Central)
do
Par
Value.
$25
10,000
1,000
1,000
1,000
1,000
1,000
1870
1867
....
1,000
500
100
50
....
16i?.
Nesquehoning Valley—Stock
Bonds, B. & N. F. stockholders
1871
1877
1873
1877
1877
Size, or
7*2
Naugatuck—Stock
f-
....
1879
1,000
1869
500 &c.
50
-
68&70 500 &c.
100
1869
1879
1,000
1870
1,000
1,000
1,000
1873
1869
1,000
1,000
1872
100
100 &c.
500 &c.
1880
1874
£100<fcc
1853
1854
500 &c.
500 &C.
1865
1,000
100
....
Nashville Chattanooga d St. Louis.—From Chattanooga, Tenn., to Hick
(man, Ky., 321 miles; branches—Wartrace, Tenn., to Shelbyville, Tenn.,
8 miles; Bridgeport, Ala., to Victoria, Tenn., 19 miles; proprietary
lines—Nashville to Lebanon, 30 miles; McMinnville to Manchester, 35
miles; Decherd to Fayetteville, 40 miles; total, 453 miles. In 1872 this
company purchased the Nashville & Northwestern Railroad from the
fitate of Tennessee and in 1877 the Tenn. & Pacific RR.
In 1879 they
acquired the St. Louis & Southeastern and Owensboro & Nashville. The
company in 1879-80 had formed connections for a through route
from St. Louis, Mo., to Savannah, Ga., being in active competition
with the Louisville & Nashville Railroad Company. At this juncture the
officers of the last-named company purchased a controlling interest in
the stock of the Nashville Chattanooga & St. Louis Company.
(See
Chronicle, V. 30, p. 91.) The debt to the United States and the bonds
endorsed by Tennessee are secured by deposit in trust of this company’s
first mortgage bonds. Earnings for five years past were as follows:
Gross
Miles.
341
341
341
453
453
Years.
1874-5
1875-6
1876-7
Net
EarningR.
Earnings.
$1,680,826
$528,872
1,751,600
1,632,277
1,871,809
728,176
682,302
767,995
Div’d
p.
ct.
3
3
3
2
3
1877-8
1878-9
1,736,723
715,135
fV* 28, p. 554; V. 29, p.224,407.511 , 631,658; V. 30, p. 91,222,248,357.)
Nashville d Decatur.—"From Nashville, Tenn., to Decatur, Ala., 122
miles. The road was leased May 4, 1871, to the Louisville & Nashville
Railroad for 30 years from July 1,1872, at a rental of 6 per cent per
annum on the stock, to begin after the completion of the So. & North Ala.
RR., and the first dividend under this arrangement was paid April 1,
1875. The lessee assumed all the debt of the Nashville & Decatur Co.
Naugatuck—Naugatuck Junction to Winsted, Conn., 561? miles;
Watertown & Waterbury Railroad, 4*2 miles, is leased;
total miles
operated, 61. From Naugatuck Junction Bridgeport is reached by use of
the track of the New York New Haven & Hartford Company. Debt was
extinguished in 1876 by the payment of the first mortgage bonds then
maturing. Dividends are regularly paid. Operations and earnings for
five years past were as
Years.
Miles.
61
61
61
61
61
...
follows:
Passenger
Mileage.
6,207,451
6,250.991
5,899,088
6,214,917
6,322,281
Nesquehoning Talley
—
[VOL. XXX.
great favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
For explanation
BONDS.
Freight (ton)
Gross
Mileage.
Earnings.
4,098,560
3,906,131 '*
4,308,194
5,742,605
7,366,813
501,396
501,604
520,820
477,834
499.188
Div.
Net
Eara’gs. p.c.
10
222,327
206,084
10
10
207,759
206,301
10
222.275
10
From Nesquehoning Junction, Pa., to Tamman-
«nd, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansford, Pa., 1 mile;
total, 18 miles. Opened in 1870, and was leased for 999 years to the Le¬
high Coal & Nav. Co. at a lease rental of $130,000per annum, but with an
option for the lessees to terminate it after 1878. In 1879 the lease was
modified so as to pay 7 per cent a year only. (See terms, V. 29,p. 18.)
Nevada Central.—Battle Mountain to Austin, Nevada. 93miles.
Ronds admitted to N. Y. Board April, 1880. (V. 30, p. 409.)
Newark d Hudson.—Bergen Junction to Newark, N. J., 6 miles. Leased
to New York Lake Erie & Western at a rental of $33,000 per annum,
which pays interest on bonds and 7 per cent on the stock of $250,000.
Cortlandt Parker, President, Newark, N. J.
Newark Somerset d Straitsville.—Newark, Ohio, to Shawnee, Ohio, 44
miles.. Road was completed in 1871. Leased to Sandusky Mansfield &
Newark for 14 years from January 1,1872. Operated by the Baltimore
& Ohio, which pays 30 per cent on gross earnings, and advances any
additional amount necessary to meet the interest on the debt. Capital
Bonds— Princi¬
INTEREST OR DIVIDENDS.
Amount
Outstanding
Rate per
$6,575,295
1874-569
1874-5.
1,000,000
940,000
4,860,000
320,000
300,000
90,000
1,642,000
1,955,000
178,000
2,000,000
1,300.000
720,000
250,000
800,000
1,164,500
1875-96.
Cent.
2
4
6
7
6
6
8
,3
7
6 g.
5
3i?
6 g.
6
7 g.
'250,000
605^000
7
525,000
7
3
7
2,460,000
1,296,000
192,000
260,000
1,200,000
916,000
2,120,000
1,500,000
300,000
387,500
812,000
4,000,000
89,428,300
6,632,900
|
74,500
(?)
6
6 & 7
6
7 g.
7
1>4
6
7
5
6 g.
2
6
6
pal,^When Due.
When
Where Payable, and
Whom.
Payable
& O.
& D.
& J.
& J.
& J.
&. J.
& J.
& D.
& J.
& O.
& J.
& S.
& O.
A.
J.
J.
J.
J.
J.
J.
J.
J.
A.
J.
M.
A.
M. & N.
by
New York & Nashville.
N. Y., V. K. Stevenson.
N. Y., Metrop. Nat. Bk.
do
do
do
do
do
do
do
do
A.
A.
A.
M.
M.
.
•
&
&
&
&
&
April 1, 1880
1881 and ’91
1881 to 1886
July 1, 1913
Jan. 1, 1917
Jan. 1, 1917
Feb. 1, 1907
Dec., 1879
Y., Drexel, M. & Co. July 1, 1900
Nashville, Co.’s Office.
Oct., 1887
Jan. 15, 1880
Bridgeport, Conn.
Philadelphia, Co.’s office March 1, 1880
New York.
Oct. 1, 1904
N.
N.
Y., Union Trust Co.
Newcastle, Penn.
Q.-j.
Various New Haven, Treasurer.
New Haven.
do
J. & J.
•
Stocks—Last.
Dividend.
•
O.
Nov. 1. 1889
April, 1880
1898 to 1900
Oct., 1873
Jan., 1899
do
do
do
April’80 & ’82
Apr.1,’91 &’98
April 1, 1909
8. New York and London. March 1, 1893
0.
O.
In default.
New London, Office.
A. & O. N. Y., B’k of N. America
J. & D.
do
do
J. & J.
do
do
M. & N.
London, Baring Bros.
N.
Q.-J.
Q.-J.
M. & N.
M. & N.
N.Y., Gr. Central Depot.
do
do
do
do
Nov. 1.
1889
April 1, 1880
Sept.,
July.
1885
1892
July, 1910
May 1,1904
July 15. 1880
May 1,1883
May 1,1883
Mass., 84 miles. Branches: Farmington, Conn., to New Hartford, Conn.,
14 miles; Simsbury, Conn., to Tariffville, Conn., 1 mile. Leased:
Holyoke to Westfield, Mass., 10 miles; total owned, leased and operated,
109 miles. This company has a perpetual lease of the Holyoke and
Westfield Railroad at 50 per cent of the gross earnings, but a minimum
of $14,000 per year is guaranteed. This company voted January, 1880,
to build an extension to Turner’s Falls, with branch to the State road, at
an estimated cost of $650,000.
Operations and earnings for five years
past were as follows:
Years.
Miles.
109
109
109
109
Passenger
Mileage.
Freight (ton)
Mileage.
Gross
.
4,926,399
10,101,674
$592,701
4,626,908
4,516,618
1,1256,872
11,719,954
11,889,310
567,667
544,452
548,200
588,280
5,455,832
Net
Earnings. Earnings.
$193,451
177,851
191,532
206,547
238,860
-(V. 28, p. 40, 401; V. 30, p. 43.)
New Jersey d New York.—From Jersey City (Erie Junction), N. J., to
Stony Point, N. Y., 31 miles; leased line. Nanuet & New City Railroad,
5 miles; total, 36 miles. Organized September 4,1874, by consolidation
of the Hackensack & New York Railroad and the Hackensack & New
York Extension Railroad; receiver appointed in 1877. The Hackensack
6 New York Railroad was sold in foreclosure August 14,1878, and was
leased to the receivers of this company.
the present company was given at much
The plan of reorganization for
length in the Chronicle. (V.
29, p. 459, 538; V. 30, p. 248, 385, 566 )
New
Jersey Southern.—From Port Monmouth, N. J., to Atsion, N. J., 65
miles; branches—Eatontown to Long Branch, 4 miles; Atsion to Atco,
9 miles; Manchester to Waretown, 21 miles; Sandy Hook to Long
Branch, 9 miles; Beach Track, 2 miles; Atsion to Bay side, 48 miles;
total, 158 miles. The property was sold in foreclosure March 31, 1879
(see Chronicle, V. 28, p. 352), and the present company was organized
July 25, 1879, with Judge Lathrop, receiver of the Central of New
Jersey, as president. The capital stock is $
The property was
sold subject to $136,000 on the Tom’s River Railroad and $200,000 on
the Long Branch & Sea Shore RR. The road is now operated as a part
of the Central New Jersey system. (V. 28, p. 146,173,352; V. 29, p. 121.)
.
New London Northern.—From New London, Conn., to Brattleboro, Vt.,
121 miles. This road has been operated since Dec. 1,1871, under lease
to the Central Vermont Railroad; the lease wras for 20 years at $155,000
Consolidated mort. bonds issued to retire all other funded and
floating debt and to pay for branch recently purchased from Vermont &
Massachusetts RR. Operations and earnings for five years past were as
per year.
follows:
Years.
Miles.
100
100
100
100
100
—(V. 30, p.
Passenger
Mileage.
4,526,574
5,899,360
5,941,778
4,765,084
3,927,511
169, 384, 409.)
Gross
Freight (ton)
Mileage.
Earnings.
Earnings,
p. c.
$500,170
$123,426
498,730
470,455
150,448
137,135
129,609
500,491
189,873
8
7%
6*2
6
6
9,237,318
10,729,982
12,169,737
11,610,469
12,637,957
507,889
Net
.
Div.
New York d Canada— From Whitehall,
113 miles; branches:
Ticonderoga, N.
N. Y., to Rouse’s Point, N. Y.,
Y., to Lake George, N. Y., 4
miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles; West Chazy to
Province line, 13 miles; total, 150 miles. This company was organized
March 1,1873, as successor of the Whitehall & Plattsburg and the Mon¬
treal & Plattsburg railroads. The whole line was completed September
18,1876. The road is virtually owned by the Delaware & Hudson Canal
Company, which guarantees the bonds. The stock is $4,000,000. Earn¬
ings and expenses are included in the Rennselaer and Saratoga Railroad
stock, common, $783,900, and preferred, $189,550. Gross earnings in returns. (V. 29, p. 581.)
New York Central d Hudson.—New York City, N. Y., to Buffalo, N. Y.,
1877-8, $135,295; net, $50,749 ; deficit to lessee, $5,251.
442 miles; branches on New York Central division, 298 miles; total
Newburg Dutchess d Connecticut.—Dutchess Junction to Miilertowrn,
N. Y., 59 miles. The Dutchess & Columbia Railroad was sold August 5, owned, 740 miles. Lines leased—Troy & Greenbush, 6; Niagara Bridge
& Canandaigua, 98; Spuyten Duyvil & Port Morris, 6; Junction (Buf¬
1876, and this company was organized January 8, 1877, by the pur¬
falo)^; Syracuse Junction, 8; New York & Harlem, 127; Lake Machasing bondholders. In 1877-8 gross earnings were $135,823; net,
7; total, 260 miles; grand total, 1,000 miles. The second track
$5,921; in 1878-9, gross, $150,418, net. $11,929. The common stock hopac,
owned is 465 miles; third track, 258 miles; fourth track, 225
Is $172,000 and preferred stock $715,350. John S. Schultze, President,
miles; turnouts, 468 miles—making a total of 2,156 miles of track
Moor’s Mills, N. Y.
owned by the company. This company was formed by a consoli¬
Newburg d N. T.—Vail’s Gate Junction to Greenwood Junction, 13 dation of the New York Central and the Hudson River railroads October
miles. Leased Octol>cr 5, 1866, to Erie RR., at $17,500 per annum, and 1,1869. The New York Central whs a consolidation of several roads,
operated now by N. Y. Lake Erie & Western. Nominal stock, $500,000. under a special law of April 2,1853. The Albany & Schenectady Rail¬
New Castle d Beaver Valley.—Homewood, Pa., to New Castle, Pa., 15 road opened September 12, 1831, as the Mohawk & Hudson. It was the
miles. Road in operation since 1860. Leased to Pittsburg Fort Wayne first railroad built in the State of New York. The famous scrip divi¬
Ac Chicago Railroad for 99 years at a rental of 40 per cent on gross eam- dend of 80 per cent on the capital stock was made in December, 1868,
4ngs. Lease transferred to Pennsylvania Company. There is no d4bt. and on the consolidation with the Hudson River road (Nov. 1,1869) a
In 1878, 24 per cent in dividends was paid; in 1879,13 per cent. Gfoss further dividend of 27 per cent was distributed on the N. Y. Central
stock and 85 per cent on the Hudson River stock. The mortgage for
earnings in 1879, $257,815; rental received, $103,126.
New Haven d Derby.—New Haven, Conn., to Ansonia, Conn., 13 miles. $40,000,000 was issued to lay the third and fourth tracks, w.ith a
sufficient balance retained by the company to retire all prior bonds. In
Road opened August 9,1871. Capital stock is $447,100. New Haven
November, 1879, 250,000 shares ($25,00Q,000) were sold to a syndicate
Gross earnings
1p-City guarantees the $225,000 second mortgage bonds.
of bankers by Mr. W. H. Vanderbilt at the price of 120, and 100,006
in 1877-8, $102,113; net, $36,409.
shares more afterwards. Prices of stock and earnings, monthly have
New Haven d Northampton.—From New Haven, Conn., to Williamsburg, been:
...
Subscribers will confer a great favor by
DESCRIPTION.
For
Miles
of
explanation of column headings, &c., see notes
Road.
on first page of tables.
v
mortgage, sinking fund (Hudson
Par
•
•
•
1854
•
} COUI7ereT^
£
Size, or
of
Bonds.
•
mortgage
N. Y. City Elevated!.—Stock
,
1st mortgage, $ or &
N. Y. City d Northern—Consol, mort. for $4,000,000
New
Date
1853
River)
discovered In tbese Tables.
INTEREST OR DIVIDENDS.
|Bowrf«-PrinoL
giving Immediate notice of any error
New York Central d Hudson River—(Continued)—
Bonds railroad stock (N. Y. Central)
Bonds real estate
do
Renewal bonds
2d
840
840
•
•
1,000
1,000
100
1876
1880
1875
•
•
•
1,000
•
•
•
•
100 &c.
100 &c.
50
50
6957811874-695
f
$12,000,666)
1872
1861
Sinking fund
New York Housatonic d Northern—1st mortgage...
N. Y. Lake Erie & TFcsf.—Stock, common
Preferred stock
1st mortgage (extended in 1867 to 1897)
2d mortgage, convertible (extended in 1879)
3d mortgage
4th mortgage, convertible
5th mortgage, convertible
Buffalo Branch Bonds
.
4
Long Dock Co, mortgage
1st consolidated mbrtgage, gold
do
do 1
funded coupon bonds .
N. Y. L. E. & W., new mort., gold, 1st lien
do
do
do 2d consol
do
do
do fund. coup,
do
do
income bonds (non-cumulative).
New York d Long Branch—Stock
N. Y. d New England < Bost., Hartf. d: Erie)—Stock.
1st mortgage, new (for $10,000,000)
1,000
500 &c.
...
459
m
m
m
m
•
•
•
•
1,000
1,000
1,000
1,000
500 &c.
100 &c.
500 &c.
1,000
500 &c.
500 Ac.
300 &c.
1877.
Jan. 10438-100%
Feb. 102%- 91is
98
89%
Mar.
Apr. 9414- 8514
May 961s- 88%
J’ne. 93
88
-
July 9514- 89^8
Aug.l03i4- 923s
Sept 104%- 99%
Oct.. 109 41-1013*
Nov.107%-105%
Dec.107%-104%
This abstract of
1878.
«.
1880.
1879.
108%-104%117%-112%135 -129
106 -10331120 -115% 13312-130
107VI03^8 117 -112
137 -1293s
10918-105% 117V1J334 136 -129%
110%-105% 120%-117% 131 -122
112
110
-107
121i4-1177s
-108iell9i2-117%
112 -107% 12018-116
115 -111 12 120 -II8I4
114 -109
133 -119
112%-110
139 -126
114 -110% 133%-127
$
$
2024,812 2593 613
2210,304 2317,231
2474,302 2854,835
2214,626 2782,321
2211,010 2540,997
-
-
-
-
-
-
-
operations for eight years was issued by the
REVENUE
1880.
1879..
syndicate:
ACCOUNTS—1872 TO 1879—EIGHT YEARS.
Operat’g Exp’s,
Interest and
Gross
Net Income. Dividends.
Rentals.
Earnings.
1872.. $25,580,675 $17,608,804 $7,971,871 $7,244,831
7,136,790
9,523,057
19,603,793
1873..
29,126,851
7,136,884
9,713,354
21,937,031
1874..
31,650,386
Year
ending
Sept. 30
21,688,022
20,833,512
19,635,738
7,339,195
7,213,075
1878..
29,027,218
28,046,588
26,579,085
28,910,555
20,872,109
1879..
28,396.583
20,802,097
a,038,445
7,594,485
1875..
1876..
1877..
Surplus.
$727,039
2,386,267
2,576,470
202,515
73,547
May 1,18831
May 1,18f
Dec. 15, 188*!
June, 1885
Jan. 1, 19(
N. N.Y., Gr. Central Depot.
do
do
N.
do
do
D.
do
do
D.
do
do
J
London.
J.
1, 19031
Jan.
&
F.
M.
J.
J.
M.
J.
& A. New York, Co.’s Office.
do
do
& S.
& J. N.Y., Gr. Central Depot.
do
do
& J.
do
& N.
do
do
do
& J.
J.
o.
D.
J.
& D.
& S.
& s.
& N.
& D.
& D.
& D.
N. Y., Co.’s office.
do
do
do
do
do
do
do
do
do
do
do
do
New York and London.
do
do
do
do
do
do
do
do
do
do
& J.
Boston.
& N.
& S.
&
&
*&
&
J.
4,708,000
S.
1. 19(
Jan.
New York.
,T.
July 1, 1880]
July 1, 18f *
May, 1900
Jan. 1,1881
May 1, 189*:
Sept. 1, 1911
Mar. 1, 18831
Oct. 1, 1880|
June 1, 18f
July 1, 1891
Jan. 1893
Sept. 1, 192(
Sept. 1, 1920!
Dec. 1, 19081
Dec. 1, 1969|
,
Dec. 1, 196»!
June 1, 1971;
Jan.. 1905
its successor. The Erie Railway defaulted on its bonds in 1875. ana
sold in foreclosure under the second consolidated mortgage in 1878.
The present company was organized and took possession June 1, 1878.
Under the plan of reorganization the above statement represents all tl
stocks and bonds issued to September 30, 1879.
The total intei
oharge each fiscal year will be as follows: 1879-80, $3,987,878; 18£
as
was
81, $4,229,678; 1881-82, $4,229,678;
1882-83, $4,258,080; 1883-84,
By the terms of the plan oue-half of the stock, both com¬
mon and preferred, is issued to “ Voting Trustees ” in London, who she"
vote on them until the dividend on the preferred stock (6 per cent) b£
been paid for three consecutive years. The funded coupon bonds ai
secured by lien of consolidated mortgage. On the second consolidat
first coupon was paid June, 1880.
The second funded coupon bonds arts]
5 percents till June, 1883, and after that 6. On the second mortgage ant*
second funded coupon no foreclosure can take place till six coupons ar€
in default. The most prominent feature of the reorganization was the
provision for outlay of new capital on the property, and up to September
30,1879, the cash from assessments of stock .amounted to $3,416,578.
Prices of stock and earnings monthly have been as follows:
Prices of Stock.
Monthly Earnings!
$4,314,884.
-Common.1880.
1879.
Jan. 27V 21*8 48 - 41 %
48 V 4434
Feb. 2724
Mar. 2578- 23% 47 %- 43%
Apr. 27V 24%
May 29%- 26%
J’ne. 28%- 26%
July 28 V 27%
46V 41%
43%- 30%
-Preferred.
1880.
1879.
7334- 67% 1147,173
1207,391
73V 70
46%- 42% 72%• 68% 1356,780
49V 45
70%- 6334 1372,755
54
-
65%-'47
48
53
-
1230,419
1273,532
44
-
1450,223
45%
07%67%- 56%
78
%- 60
78%-
-
65%
-
60
1296,331
1252,211
1644,951
1643,151
1492,495
1713,697
1515,835
-
-
1350,574
-
-
-
-
$
51 %- 37%
50 - 43%
52%- 49%
53
51%
Aug. 28 V 23
Sept 34%- 23%
1880.
1879.
$227,317,944 $162,981,110 $64,336,833 $57,214,429 $7,122,404
—(V. 29, p. 563, 655 ; V. 30, p. 17, 92, 170, 357, 494, 589, 624).
Oct.. 43%- 32%
Nov. 49 - 32
Dec. 44 - 37^
Ferry, N. Y., east side, to 129th
New York City Elevated.
street; total, 14 miles. The property wras
street; west side, to
leased to the Manhattan Railroad, with a guarantee of 10 per cent divi¬
dends on the stock. The last report of operations, for the year ending
Sept. 30,1879, was given in the Chronicle, V. 29, p. 630. Passengers
carried in 1879, 29,875,912. For the first quarter of 1880, see Man¬
hattan Elevated on page 37. Total real cost of this road to January,
1880, is estimated to have been $8,719,038. (V. 28, p, 302, 526, 553,
579; V. 29, p. 407, 511, 630; V. 30, p. 144, 357, 385, 544.)
—The laying of the third rail was completed on December
The last annual report was published in the Chronicle, V. 29,
The operations and earnings for five years past were as
Total.
Stocks— Last
Dividend.
and by
,—
7,136,679
7,139,528
7,140,659 Def.197,312
7,139,528
898,917
7,139,528
454,957
6,943,347
Where Pay able,
Wh om.
Q.-J. N.Y., Treasurer’s Office. July 1, 18f
508,008
2,000,000
6,136,000
1,000
Monthly Earnings.
-Prices of Stock.—
&
&
&
&
&
&
M.
M.
J.
J.
J.
J.
182,600
.
1876
Payable
3,000,000^
16.656,000
3,688,001
(?)
24,400,000
8,597,400
1,000
1,000
®
23
139
139
100
100
1847
1879
1853
1857
1858
1861
1863
1870
1878
1878
1878
1878
1878
When
Rate per
Cent. 1
$592,000
162,000
2,391,000
1,794,000
18,465,000
9,733,333
6,500,000
8,500,000
3,427,000
900,000
1,800,000
7,950,000
1,500,000
10,500,000
107,704
249,000
77,107,700
8,146,700
2,482,000
2,174,000
4,852,000
2,937,000
709,500
$1,000
1,000
1,000
•
1873
1873
•
Amount
Outstanding
Value.
....
New York d Greenwood Lake—1st mortgage
2d mort., income, (issued for old firsts)
Note Yoi'Jc d Harlem—Common stock
Preferred stock
Consol, mort., coup, or reg., (for
41
STOCKS AND BONDS.
RAILROAD
June, 1880.]
-From South
High Bridge, N. Y., to Brewster’s,
organized February 18,1878, and
acquired the New York Westchester & Putnam (formerly the New
York & Boston Railroad), sold in foreclosure March, 1876. The com¬
pany in May, 1880, leased the West Side & Yonkers road for 999 years,
and‘ the consolidated mortgage was issued to take up all the other bonds.
Stock, $3,000,000. See V. 30, p. 544. R. M. Gallaway, President, No. 3
Broad street, N. Y. (V. 27, p. 172; V. 30, p, 409, 519, 544, 651.)
New York City d Northern— From
N. Y., 51 miles. This company was
Greenwood
Lake, 40 miles; extension, 1% miles; total, 41% miles. This was the
Montclair Railroad, opened in 1874. It wras sold and reorganized as
Montclair & Greenwood Lake, and again sold October 12, 1878, and the
present company organized. The New York Lake Erie & Western pur¬
chased a controlling interest in the property and now operate it. The
holders of the second mortgage bonds have a right to pay off the first
mortgage bonds of $900,000 at 105, and thus gain control of the prop¬
(See Vol. 27, p. 172, 228.) It is reported that the New York
erty.
Lake Erie & Western purpose extending the road and making it an im¬
portant part of their line. In 1879 the gross receipts were $118,231;
expenses, $149,456.
(V. 27, p. 16, 68, 95, 172, 192, 228, 252, 303, 357,
383, 436, 462, 539, 628, 652; V. 30, p. 409, 566.)
New York d
April 1,1873, for 401 years, to
theN. Y. Central & Hudson River RR.,
yearly rental from the lessee of 8 per cent dividends on the stock and
the interest on the bonds. The Fourth avenue horse railroad, together
with valuable real estate, was retained by this company, and extra
dividends are paid out of the receipts therefrom annually m April. All
operations of the main road are included with those of the N. Y. Central
& Hudson.
(V. 28, p. 18.1
at a
Northern.—Foreclosure sale made in April,
1880, for $111,000 to Horace Bridgeman. -(V. 30, p. 118, 248, 323, 384.)
New York Housatonic d
Ncic York Lake Erie d Western.—From Jersey City, N. J.,
N. Y., 460 miles;. Piermout branch, 18 miles; New burg
to Dunkirk,
branch, 19
miles; Buffalo branch—Homellsville, N. Y., to Attica, 00 miles; total
owned, 557 miles; road operated under lease and contract, 413 miles;
total
operated, 969 miles.
hands of
a
Year
t
organized
72
Passenger
Mileage.
155,396,804
end'g
Sept. 30.
163,074,795
170,888,380
140,326,749
168,390,000
-
Freight (ton)
Mileage.
Gross Traffic
Earnings.
1,016,618,050
1,040,431,921
$16,876,858.
15.852,46T
14,708,890
15,644,978
15,942,022
1,114,586,220
1,224,764,438
1,569,223,137
Net Traffil
Earnings, i
$4,197,72*3
3,621,25f
3,809,or
5,009,ID
4,767,32*
has receipts from other sources, and the total net incomi
(charging full interest on the debt as it stood), as compar
The company
each year
with the annual charges, were as follows:
Years.
Net Income. Int., Rent’ls, &c.
$4,698,615
4,308,563
4,636,717
5,718,927
5,469,360
Surplus.
$6,351,781
5,538,194
5,937,801
New
miles.
York d Long Branch.—Perth Amboy,
It is leased to Central Railroad of New
Long Branch Division of that
Anthony Reckless, President, N. Y.
tne
Deficit.
$1,653,16(
1,229,631]
1,301,0841
625,431
5,093,496
4,153,255
1,316,105
—(V. 28, p. 17, 67, 302, 352, 401, 477, 579,
171, 197, 302, 358, 383, 433, 538, 564, 607,
43, 67, 170, 222, 273, 494, 624, 650.)
600; V. 29, p. 18,147.
631, 679, 680; V. 30, p<|
N. J., to Long Branch, 23
Jersey, forming part oi
road. No further information giver*;
City.
to Willimantie, ConnJ
miles; to South Bridge^
miles; Rhode Islana <fc
Massachusetts Railroad (leased), 14 miles; Hartford Providence & Fish^
kill Railroad, acquired in 1879, 133 miles; total operated, 286 miles<
This was the Boston Hartford & Erie Railroad, which became insolvent
and was succeeded by this company, formed in 1873. The Boston Harti
ford <fc Erie’s principal debt was the Berdell mortgage for $20,000,000i
for which the stock of this present company ($20,000,000) was issued. Inf
1878-9 the company acquired the Hartf. Prov. & Fish. RR. by the payj
ment of its bonds. The bouds of the new mortgage, issued in 1879, are tej
pay for the extension of the road to the Hudson Riv. See last annual repor j
V. 29, p. 607.
Operations aud earnings lor live years past were “
New York d New England.—From Boston, Mass.,
86 miles; branches to Woonsocket Railroad, 34
17 miles; to Dedham, 2 miles; total branches, 53
follows:
Years.
1874-5....
Miles.
139
139
139
153
1875-6....
1876-7....
1877-8....
1878-9.... ....286
The New York <k Erie Railway went into the -(V. 28,
receiver in 1859, and in 1361 the Erie Railway was
-
-
24,1878.
p. 679,|
follows:
Greenwood Lake.—From Jersey City, N. J., to
New York d Harlem.-From New York City to Chatham, N. Y., 127
miles. From Chatham to Albany, 24 miles, the. Boston & Albany Rail¬
road is used. This company owns 5% miles of street railroad on the
Fourth avenue. The property (except the horse railroad) was leased
-
p.
18,607,127
20,199,327
19,652,913
23,269,082
353, 428; V. 29, p. 17,
607; V. 30, p. 218, 357,
Gross
Net
Mileage.
Earnings.
Earnings]
9,304,650
9,408,574
11,321,038
18,938,845
$899,023
Freight (ton)
Passenger
Mileage.
$132,40r
963,325
965,601
225,851
194,91(
1,006,287
1,971,536
542,141
197,89<
42, 147, 253, 278, 383, 434, 489,
544, 545.)
537
1
RAILROAD
42
Subscribers will confer a great favor
explanation of column headings, &c., see notes
on lirst page of tables.
Ifetc York.
mortgage guaranteed.
Few York Ontario <£- Western—Preferred stock
Common stock ($63,000,000 authorized)
Date Size, or
Miles
Par
of
of
Road. Bonds Value.
1873
12^4
344
344
427
460
460
460
_____
Amount
Outstanding
discovered in tbese Tables.
3d mortgage, incomes ($28,783,000)
Leased lines rental gold bonds (Cl. & M.)
do
(P. P., P. V. and S. & A.)
do
N Y. Prov. & Boston— (Stonington)—Stock
Extension mortgage
First mortgage
N. Y. Woodhaven <6 Rockaway.—1st mortgage
Niagara Bridge <£• Canandaigua— Stock
North Carolina— Stock, common
Preferred stock
Mortgage bonds
North Pacific Coast—Stock
North Pennsylvania,—Stock, guar
1st mortgage
lid mortgage
General mortgage bonds
Norm Wisconsin—1st mortgage
Northeastern (S. C.)—Stock, common
Pref. stock (8 per cent) exchangeable for
1st mortgage, new
2d mortgage, new
Northern (Cal.)—1st mortgage
1880
1879
1879
1871
1872
1873
62
12
50
16
98
223
223
223
79
58
56
56
1860
1869
1879
100
3,000,000
1,000
1,000
50,000
1,000.000
1,000,000
1,000,000
3,000,000
1,000,000
210,000
1,074,900
4,527,150
1.930,500
1,500,000
2,569,500
800,000
899,350
86,000
820,000
236,000
2,435,000
5,842,000
1,500,000
1,490,000
1,126,000
2,599,000
,,.
....
.
i‘0‘0
____
100
500
’67-’68
....
....
50
500 See.
500 Ac.
®
2d mort.
Northern Central—Stock
1st mortgage, State (Maryland) loan
2d mortgage, sinking fund, coupon
3d mortgage, sinking fund, coupon
Consolidated mortgage, gold, coupon
60 ‘
102
102
102
102
113
317
138
138
138
138
®
®
1880
-50
50
500
500
1869
1869
1877
50
..
1855
1865
1868
500 Ac.
500 Ac.
1,000
New York New Haven <£ Hartford.—From Williamsbridge, N. Y., to
Springfield,Mass., 123 miles; branches to New Britain, Middletown and
Suffleld, 18 miles; leases Harlem A Portchester Railroad, 12 miles;
total, 152 miles. This was a consolidation July 24,1872, of the New
York A New Haven and the Hartford A New Haven railroads. The
company uses the New York & Harlem Railroad from Williamsbridge
into New York City and pays a largo toll therefor. The company leases
the Harlem River A Portchester Railroad and guarantees the bonds. The
company has no debt of its own, having paid all off in 1875. Operations
and earnings for five years past were as follows:
Passenger Freight (ton)
Gross
Earnings.
Years.
Miles.
Mileage.
Mileage.
152
123.003,659
34,936,946 $4,540,113
152
123,866,661 37,224,658
4,303,340
152
111,641,817 39,646,733
3,938,406
152
105,458,051
45,594,854
3,817,281
152
103,113,443
3,912,743
63.187,479
—(V. 28, p. 40; V. 29, p. 510; V. 30, p 15.)
Net
Div.
Earnings, p. c.
Where
Rate per
When
Cent.
Payable
$100 $15,500,000
2,000,000
1,000
2,000,000
48,000,000
500 &c.
8,000,000
500 Ac.
25,000,000
500 &c.
11,627,886
500 &c. 28,783,000
5,355,000
1,000
3,568,000
1,000
1874-659. 1874-965*.
1874-956
j ZTetc York Venn. <£• Ohio—Prior lien bonds, gold
1st mort., gold, incomes till July, 1886
2d mortgage, incomes
.
[Vot. XXX.
by giving immediate notice of any error
141
New Haven <6 Harlford—Stock
Harlem <fc Portchester, 1st
AND BONDS.
Ronds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS
pal,When Due..
Payable, and by
Whom.
J. <fc J. N.Y., Grand Cen. Depot,
do
A. & O.
Stocks—Last
Dividend.
Jan.
1, 1880
1993
do
March 1, 1895^
& S.
London, Co.’s Office.
& J. New York and London, July 1, 1905& S.
do
do
May L, 1910
do
do
AN.
Nov., 1914
do
do
& J.
Jan., 1902
& J.
London, Co.’s Office.
Jan., 1903
Q.-J. N. Y., M. Morgan’s Sons, May 10, 1880
do
M. & N.
do
May 1, 1880
J. & J.
do
do
July 1, 1899
1909
J. & J.
Jail. 2, 1880
J. & J.
Mar. 15,1880M. & S. Company Shops, N. C.
Mar. 15.1880
do
do
M. & 8.
M. & N.
do
do
Nov., 1888
M.
J.
M.
M.
J.
J.
Philadelphia Office,
Q.-F.
J.
M.
J.
J.
&
&
A
A
J.
N.
J.
J.
do
do
do
do
do
do
New York.
May
Jan.
25*,*i.880
1. 1885
May 1, 1896
1903
Jan.
1,
,
1930
M. A N
M. & 8.
M.A S.
Charleston.
do
Sept. 1, 1899*
Sept. 1. 1899-
M.A N.
Baltimore A Philadel.
April 1, 1876^
Q.—J.
Annapolis.
Baltimore, 1st Nat. Bk
1907
J. A J.
A. & O.
J. & J.
Irredeemable.
July, 1885
April, 1900
July, 1900
do
do
thereafter until maturity. (2.) The leased lines’ bonds of 1873 are to re¬
ceive the net profits up to 7 per cent (but not less than 2 per cent during
the first two years) arising from the working of the lines Avhosesecuritiesare held
by trustees. The prior lien bonds are to
old Ohio Drv. mortgage, for change of gauge, and for reorganization ex¬
penses. The stock is—preference shares, $10,000,000; common share*
provide for payment of
(estimated), $25,000,000. In first quarter of 1880 gross earnings were
$1,293,678, and net profits, $296,361. Earnings, Ac., in previous years
Avere as
follows:
Years.
1876
1877
1878
Miles.
512
512
512
Gross
Net
' Earnings.
Earnings.
$717,973
764,423
675,849
$3,672,305
3,805,305
3,745,207
Extraordinary
Payments..
$858,052
832,261
707,962
10 -(V. 28, p. 222, 276, 399, 452, 476, 525, 553, 577; Y. 29, p. 40, 196,
10 213,406, 537,563, 608, 656; V. 30, p. 42, 143, 465, 494, 625, 650.)
1,648,788 10
New York Providence & Boston.—Providence, R. I., to StoningtonV
1,670,862 10 Conn., 50 miles; extension to Groton, Conn., 13 miles; total, 63 miles.
The company owns a majority iuterest in the Providence A Stonington
Steamship line, which has a capital of $1,400,000. I- or the fiscal yearNew York Ontario £ Western.—Oswego, N. Y., to Middletown, N. Y., 249
ending September 1, 1879, annual report is given in Y. 29, p. 629.
miles; branches to Courtland, N.Y., 48 miles; to New Berlin, 22 miles; to Operations and earnings
for five years past Avere as follows:
Delhi, 17 miles; to Ellenville, 8 miles; total operated, 344 miles. This
Passenger
Freight (ton)
Gross
tNet
Div.
was the New York & Oswego Midland.
Main line was opened July, 1871. Years.
Miles.
Mileage.
Mileage.
Earnings. Income, p. c.
It connects with the N. J. Midland to N. Y. City. Default Avas made in
62
9,178,512 $829,796 $408,541 10
17,524,648
1873, and the property placed in the hands of receivers September 18,
62
19,570,190
10,128,540
935,268
465,201 10
1873. The Western Di\'isiou was sold in foreclosure May 31, 1876, and
62
9,222,200
358,997 10-&
15,378,852
718,726
the main line was sold in foreclosure NoA cmber 14, 1879. The present
62
17,858,442
10,405,601
710,038
398,116 10
company was organized January 22,1880, and under the plan of reor¬
700.111
318,656
8ganization the holders of receiver’s certificates took preferred stock, the
first mortgage bondholders took common stock for principal and inter¬
Thirteen months, t Including dividends received from Stonington
est, and tne holders of other old bonds, notes, judgments and claims Steamboat Company,
and other receipts.
the
company
Avere
permitted
to
come
in
aud
neAV
against
take
stock at
N.
Y.
Woodhaven
<£•
par for their claims on payment of assessments in cash.
Preterred
Rockarmy.—HnnteYe Point to Rockaway Beach,
stock was issued for receiver’s certificates, $2,000,000; common stock about 16 miles and—by contract Avitli Long Island KK.—is to control,
for first mortgage bonds and interest, $13,000,000.
The common stock all travel to the Beach by rail. The stock is $1,000,000. (V. 30, p. 494„
issued on payment of 20 per cent cash within 30 days from January 22,
559.)
1880, was about $35,000,000.
The stock to be issued on payment of
Niagara Bridge <£• Canandaigua.—From Canandaigua to Suspension.
30 per cent cash within six months from January 22, 1880, was : For
Bridge, N. Y., 98 miles. The road is leased in perpetuity to the New
old stock, $6,800,000; for convertible non-mortgage bonds, $2,707,000.
Has no debt, but prior
The stools of the company Avas admitted to the N. Y. Stock Exchange York Central & Hudson at $60,000 per annum.
list in February, 1880, the total of preferred stock being $2,000,000 and to foreclosure mortgages Avere $2,170,000.
the common stock authorized $48,000,000. See Chronicle, V. 30, p.
North Carolina— Goldsborough to Charlotte, N. C., 223 miles. Th&
170. Operations and earnings for five years past were as follows:
property was leased September 11,1871, to the Richmond Sc Danville
Railroad for 30 years at a rental of $260,000 per year. Dividends of 6
Passenger Freight (ton)
•
Net
Gross
Miles.
Years.
Mileage.
Mileage.
Earnings.
Earnings. per cent are paid on the stock, of Avkicli the State of North Carolina holds.
371
15,065,001
$592,591 Def. $40,473 $3,000,000, aud the dividends thus received by the State are applied to
4,759,385
$1,812,715
1,729,279
1.716,029
10
-
_
*
.
^
371
344
344
4,052,620
6,514,676
5,579,976
12,957,503
13,542,809
12,701,830
535,845
568,204 '
560,020
523,592
49,146
39,331
53,662
35,814
—(V. 28, p. 18, 42, 277, 302, 580, 625; V. 29, p. 147, 302, 330, 434, 489,
538, 581 ; V. 30, p. 43, 92, 170, 222, 241, 323, 384, 519, 589, 650.)
Pennsylvania & Ohio.—The Atlantic A Great Western Rail'
from Salamanca, N. Y., to Dayton, O., 387 miles, Avitli
City, 34, and to Silver Creek, 1L> miles; leased lines—
Mahoning 80, Westermau 1^, aud Sharon 73* miles; total, 512 miles.
New York
way, extended
branches to Oil
her bonds issued to the North Carolina
Railroad.
(V. 29,
p.
96.)
North Pacific Coast.—Sancelito to Moscow Mills, Cal., 74 miles 7.
branches, 6 miles; total, 80 miles. Stock, $1,074,900; floating debt,.
June 30, 1877, $2,017,114; net earnings in 1876-7, $73,758. No later
reports.
North Pennsylvania.—From
Philadelphia, Pa., to Bethlehem, Pa., 56
miles; branches—Jenkintown to Delaware River, 20 miles; LandaletoDoylestoA\rn, 10 miles; Iron Hill to Skimersville, 2 miles; total, 88 miles.
The Northeast Pennsylvania Railroad aud the Stonev Creek Railroad ar&
operated under contract. The company has been doing a fair business,,
moderate dividends, aud in May, 1879, was leased for
Philadelphia Sc Reading Railroad on the terms as stated
viz., that the lessees should pay in quarterly payments.
June, 1865. Receiver appointed April 1, 1867.
Leased to Erie on (February 1, May 1, August 1 and November 1) $673,344 for each of the
December 8, 1868. Again in recei\Ter’s hands April 1, 1869. Leased to the first and second years; in the third and fourth years each $718,615*
Jan.
Erie
1, 1870. Sold July 1, 1871, and once more leased to Erie on and after that $763,887 per year. This is intended to cover all fixed
May 1, 1874, but lease not carried out. Again in hands of a receiver charges of the lessors, and pay 6 per cent on their stock for two years,
Dec. 9,1874. Sold Jan. 6,1880, and now in course of reorganization by a 7
per cent for two years and 8 per cent afterwards. The net revenue of
London committee of stock and bond holders. (See V. 30, p. 143.) Ftee the
company was $573,061 in 1877-8, $562,047 in 1876-7, $786,519 in
trustees are to exercise the voting poAver of the new stock until the third 1875-6.
(V. 28, p. 503, 625.)
mortgage bondholders receive 7 per cent iuterest in cask during three
North Wisconsin.—In progress from Lake St. Croix to Bayfield, Wis.*
years. Three of these trustees are to be chosen annually by a majority 165 miles. In March, 1880, 60 miles were in operation. Stock, $900.
In value of the first mortgage bondholders, one by the second mortgage
000. For each mile built $10,000 in bonds and $15,000 in stock to her
bondholders, and the fifth by the leased line bondholders.
The new securities and 6tock of the reorganized company are to be issued. (See V. 30, p. 248.)
Northeastern (S. C.)—From Charleston, 8. C., to Florence, S. C., 102
issued upon the following basis: (1.) New first mortgage 25-year bonds,
to bear 5 per cent interest for the first 5 years and 7 per cent thereafter, miles.- This company has earned the interest on its bonds and preferred
whatever portion of this that may nor be earned to be payable in stock Avith a good surplus. In 1878-9 gross earnings were $346,267 7
deferred warrants, to be eapitalized in bonds of the same class; pay¬ net earnings, $135,364, against $162,500 in 1877-8. (See last annual
ment of interest to become absolute not later than July 1,1886, uutil report, V. 29, p. 629.) The preferred stock is exchangeable for second
which time the right to foreclose the mortgage is suspended. (2.) Second mortgage bonds.
mortgage 30-yeai bonds, to receive 5 per cent per annum, or as much of
Northern California.—Oakland to Suisun, Cal., 47 miles; extension*
the same as may be earned within the year after the first mortgage bonds Woodland to Willows, 67 miles; total, 114 miles. Completed in 1878
have received their interest in cash, the right of foreclosure to be sus¬ and leased in
part to the Central .Pacific since January 1,1876, at an
pended until Sept. 1, 1886. (3.) Third mortgage 35-year bonds, bearing 5 annual rental of $1,500 per mile of road. In 1878 total revenue from
per cent interest, after the payment of interest on the first and second rental, $346,138; surplus OATer annual charges, $90,553. The stock is
mortgages, for the conversion of existing third mortgage bonds. The $2,819,150. R. P. Hammond, President, San Francisco.
Consolidation
August 19, 1865, of three companies in New York, Penn¬
sylvania and Ohio. Reorganized Nov. 10, 1871. Opened through in
terms for the conversion of the leased lines’ rental trust bonds are as
follows: (1.) The leased lines’ bonds of 1872 are to receive 4 per cent for
but paying very
990 years to the
in V. 28, p. 625,
Northern Central.—From Baltimore, Md., to Sunhury, Pa., 138 miles ;
the first three years; 5 per cent thereafter for six years, and 6 per cent branches—Relay to Green Spring, 8 miles ; Baltimore to Canton, 5 miles 7
RAILROAD
June, 1880. J
'
Subscribers will confer
a
'
T
STOCKS
>
'
'
:
AND
*
1
■
\
RONDS
43
.
great favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
Date
Miles
For explanation of column headings, &c., see
on first page of tables.
notes
of
of
Road. Bonds.
Boiids—Princi¬
INTEREST OR DIVIDENDS.
Size,
or
Par
Amount
Outstanding
Value.
Rate per
Cent.
Where
When
'*
Payable
pal,When Due.
Stocks—Last
Dividend.
Payable, and by
whom.
*-
Northern Central—(Continued)—
Consolidated mortgage, gold, registered
Consol, mortgage, gold, s. fund, coup., $ or
2d general inort., “A,” coupon
do
“B,” coupon, convertible
Northern Central (Miclt.)—1st mortgage
c
138
138
138
138
£
1868
’74-’75
1876
1876
$205,000
4,473,000
3,000,000
1.000,000
$1,000
1,000
1,000
79817811874-56*
01
Northern, N. H.—Stock
Northern of New Jersei/—Stock
1st mortgage, extended
2d mortgage
Northern Pacific—Pref. stock(3 p. c., not cum’tive).
?.
Mortgage and land grant bonds, Missouri Div....
1,525,000
82%!
21
21
21
1809
Mortgage bonds, Pend d’Oreille div
Norwich & Worcester—Stock
Ogaensbnrg d Lake Champlain—Stock
Sinking fund bonds
Mortgage bonds (sinking fund)
Consolidated mortgage (for $3,500,000)
2'000,000
2,000,000
66
118
1877
118
118
1875-69.
leased and
$3,000,000).
70
393
393
148
393
393
393,
m
m
m
m
228
454
m
m
m
m
....
and registered
....
1,000
1,000
1
1,000
3,000,000
20,000,000
100
100
1862
1808
1868
1,000
1,000
1871
1,000
1,000
1,000
1873
1874
£200
1800
100
500 Ac.
100 Ac.
1874
1,000
....
1871
;ooo,ooo
3,000,000
operated—Shamoldn Valley & Pottsville Railroad and branch,
and Mr. Thos. A. Scott is president. The last annual report
published in V. 30, p. 220, showing the application of income for the
year 1879, the earnings, Ac. The consolidated mortgage (gold) is for
$10,000,000 to retire all prior bonds as they mature, tinder the general
mortgage of 1870 $1,000,000 more may be issued as Series C. Operations
and earnings for five years past were as follows:
Gross
Net
Passenger Freight (ton)
Div’d
Years.
Miles. Mileage.
Earnings. Earnings, p. ct.
Mileage.
1875
322 29,829,323 258,540,557 $4,920,248 $1,504,124
1870
322 43,401,080 253,552,485 4,309,920 1,127,000
3
322 27,720,708 277,732,734 4,070,388 1,324,403
322 24,122,837 280,230,742 3,723,457 1,118,900
1879.
322
404,192,701 4,107,948 1,240,000 ....
—(V. 28, p. 220; V. 30, p. 220.)
road interest,
was
....
6
7
S. V. Irvin, President, Albion, Mich.
•earnings, and is now operated by the New York Lake Erie A Western.
*The present bonds were extended in 1878 in place of the 7 per cents
then due. Gross earnings in 1878 were $234,719; in 1879, $239,355.
—(V. 30, p. 566.)
6
6
5
6
2
8
6
6
0
6 g.
7
4;o3o;ooo
3%
174,000
6,545,850
112,000
3,804,000
140,000
1,915,000
6,933,800
390,500
150,000
1,092,000
7
7
6 g.
7
7
7
3
7
6
7
Pacific.—From Duluth, Minn., to Bismark, Dakota Ter., 449
miles; branches: Western Railroad (leased), Brainerd, Minn., to Sauk
Rapid, Minn., 00 miles; Pacific Division, 137 miles; total, 040 miles.
'This company was chartered by act of Congress July 2, 1804, to build
from Lake Superior to Puget Sound, 1,800 miles, with branch to Port¬
land, Oregon, 200 miles. The land grant was 20 sections per mile in
40 sections in Territories, estimated to amount to 47,000,000
The company defaulted January, 1874, and the road was fore¬
ana
closed August 12, 1878, and reorganized by the bondholders’ committee
Sept. 29, 1875. To the bondholders new preferred stock was issued at
the rate of $1,400 for each $1,000 bond, and the privilege to exchange
•ceased June 30,1879. This preferred stock is taken in payment for the
■company’s lands east of the Missouri River at par. The stock and
bonds were placed on the New York Stock Exchange in July, 1879
<8ee statement, V. 29, p. 121). The last annual report, to June 30, 1879,
was published in V. 29, p. 380, to which reference is made for full details
of operations for that date, including a land department. Operations
and earnings for four years past were as follows:
Net
Gross
Passenger
Earn in gR.
Miles.
Years.
Earnings.
Mileage.
*
$739,745
2,943,748
4,351,622
4,019,832
555
585
640
720
1875-6*
1876-7
1877-8
1878-9t
965,823
1,193,381
1
1,167,261
Jan.
1, 1926
1. 1926
Jan.
1903
June 1, 1880
In 1879
City, Hudson Co. B’k.
July, 1888
J.
M.
J.
M.
J.
A.
A.
J.
&
&
&
&
&
&
&
&
J. New England Trust Co.
.Tail, 8, 1880
S. Boston, N. E. Trust Co. March 1* 1897
J.
Boston, Office.
July 10, 1876
do
S.
Mar., 1890
do
J.
1897 ^
do
0.
M.
A.
J.
J.
A.
M.
M.
J.
A
&
A
&
&
&
&
&
S.
0.
J.
J.
O.
N.
N.
i920
do
O.
J. N.Y. Metropolitan N.Bk
New York, Office#
do
do
do
do
London.
New York, Office.
do
do
do
do
J.
Various
A. & O.
M. &
Boston, Office.
do
do
do
S.
Jan., 1920
.Tan. 1, 1930
Mar.
1, 1875
April. 1, 1882
Jan.
Jan.
1, 1898
1, 1898
April, 1911
May 1, 1883
Nov. 1, 1905
July 1, 1880
1881
Oct. 1, 1880
March 1, 1894
Ogdcnsburg & Lake Champlain—Rouse’s Point, N. Y., to Ogdcnsburg,
Y., 118 miles; branches, 4 miles; total, 122 miles. The road was
leased to the Vermont Central March, 1870, but the lessee failed, and
this company resumed possession of its property April, 1877.
The
earnings of the road have decreased of late years, and in January, 1880,
the executive committee issued a circular proposing certain terms of
adjustment (see V. 30, p. 118, 144), which will be carried out. Annual
report in V. 30, p. 622.
Operations and earnings for five years past
N.
were as
follows:
Years.
1875-0....
1870-7....
1877-8....
1878-9
1879-80
..
..
..
..
Passenger
Mileage.
4,585,143
3,485,220
3,309,125
Miles.
118
118
118
118
Ohio
Freight (ton)
Mileage.
20,141,083
21,474,099
24,534,607
..
Central.—The road
as
Gross
Net
Earnings. Earnings.
$508,293
522,938
542,670
479,276
510,582
$169,421
165,429
144,326
90,407
132,358
16, 631; V. 30, p. 43,144, 323, 358, 494,
projected is 200 miles—Corning, O., to'
Toledo, O. The section completed Jan. 1 was 70 miles—Corning to New¬
ark, O. The bonds authorized are as above—$3,000,000 of each sort,
w hen the whole line is finished.
The stock is $4,000,000—par $100.
Dan. P. Eells, president.
Ohio d Mississippi.—Cincinnati, O., to East 8t. Louis, Ill., 340 miles;
Louisville branch, from North Vernon to Jeffersonville, Iud., opened in
1809, 53 miles; total Ohio & Mississippi line, 393 miles; the Springfield
Division, Beardstowu to Shawneetown, Ill., 222 miles; total operated,
015 miles. The Eastern and Western divisions were sold in foreclosure
and the present Ohio A Mississippi Company consolidated November 21,
1807. On November 17,1870, the company was placed in the hands of
receivers, and afterwards Mr. John King, Jr., of the Baltimare A Ohio
Railroad, was appointed sole receiver. A suit is pending, brought to
annul the purchase of the Springfield Division in 1875 as fraudulent and
void. The various phases of litigation in regard to this company have
been reported from time to time in the Chronicle, and reference to the
pages indexed below is necessary to get any complete idea of the succes¬
sive steps. There are yet $97,000 of old first mortgage 7s, Western
Division,
Division.
outstanding.
Suit is also pending to foreclose Springfield
Coupons of Oct. 1, 1879, and April 1, 1880, on second mort¬
bonds were paid April, 1880, the first since 1870.
earnings for five years past were as follows:
gage
Years.
Northern
acres.
J. & J. J.
M. A S.
622.)
Northern of Ncio Jersey.—From Bergen, N. J., to Sparkill. N. Y., 21
miles. The company operates an extension to Nyack, called the Nyack
•A Northern Railroad. This road was opened Oct. 1, 1859; it was leased
to the Erie Railway April, 18G9, at a rental of 35 per cent of its gross
States
“
-(V. 28, p. 277, 526; V. 29, p.
Northern, N. H.—From Concord, N. H., to West Lebanon, N. H., 70
miles; branch, Franklin, N. H., to Bristol, N. H., 13 miles; total, 83
miles. This road has done a steady, but slightly decreasing, business
•during the past four years. The last annual report was published in the
•Chronicle, V. 30, p. 599. The net earnings for the fiscal year ending
March 31, 1880, were $112,438, and in 1878-9 were $107,372, against
$117,140 in 1877-8; $123,150 in 1870-7; $120,810 in 1875-0. Prior to
that date, earnings were considerably larger. ((V. 28, p. 552; V. 30, p.
-599.)
July, 1900
July 1, 1904
Boston, Office.
& D.
....
Northern Central (Michigan).—Jonesville, Mich., to Lansing, Mich., 01
Owned by the Lake Shore A Michigan Southern Railwajr Com¬
O. Baltimore, 1st Nat. Bk.
J. London A Baltimore.
J Baltimore, 1st Nat. Bk.
do
do
J.
2*4
....
miles.
Stock, $010,000.
000,000
2,529,000
1,000
31 miles; Elmira & Williamsport Railroad, 77 miles; Chemung Railroad,
17 miles; Elmira Jefferson <fe Canandaigua Railroad, 47 miles; total, 323
miles.
This was a consolidation of several roads in January, 1875. The
terms of the several leases will be found under the names of the leased
roads. The company is under the management of the Pennsylvania Rail¬
pany.
2,604,400
400,000
3,077,000
371,000
1,000
100
....
J.
&
&
&
&
29j952j600
1879
1870
1877
1880
1880
1880
1880
A.
J.
J.
J.
43,80u,000
1879
.......
Bonds (not mortgage) coupon
Bonds (not mortgage) coupon
400,000
1,000,000
205
209
* m m m
Income bonds
i
Ohio Central— 1st mortgage gold
Income l>onds (non-eumulative)
Ohio d Mississippi—Stock, common
Preferred stock (7 p. c. yearly, cumulative)
Income and funded debt bonds
1st consolidated inort. ($3,478,000 are 8. f.)
Consolidated mortgage, sterling
:2d consolidated sinking fund mortgage
Debenture sinking fund bonds (for $1,000,000)...
CUt Colony—Stock
Bonds (not mortgage) coupon
3,008,400
1,000,000
100
New bonds, coupon
-Spring. Div. (Sp. A Ill. SE.) 1st M. (for
100
100
100 Ac.
100
100
560
Common stock
'
1,000
6 g.
6 g.
5
6
7
3
*
:
Miles.623
019
615
015
015
Gross Earnings.
$3,204,480
Operations and
Net Earnings.
$863,51ft
3,382,032
2,090,187
! 3,136,836
842,306
535,107
804,548
3,502,239
1,058,975
Eight months.
—(V. 28, p. 120, 146, 200, 253, 275,'328, 402, 428, 526, 554, 580, 649;
V. 29, p. 07, 226, 241, 278, 330, 408, 434, 483, 031, 680; V. 30, p. 43,
67, 92, 144, 219, 249, 298, 358, 434, 567.)
Old Colony (Mass.)—From Boston to Provincetown, Mass., 120 miles,
and lines to Kingston, Plymouth and Somerset Junction, Mass., and to
Newport. R. I.; total, 249 miles; numerous branches. 52 miles in all; total
length of all lines, 301 miles. The Cape Cod Railroad was merged in
this October 1,1872.
In December, 1878, a contract of lease was made
with the Boston Clinton Fitchburg A New Bedford for 999 years, the
Old Colony to operate that road and pay as rental 1023 per cent of the
gross earnings of both roads.
The Wollaston disaster cost the company
$348,453. The last annual report was in the Chronicle, V. 30, p. 15,
in which it was stated: “The bonded debt of the company has been
$290,020 increased
by the issue of $300,000 of bonds, bearing six per cent inter¬
392,098
583,700 est, which were sold at a premium. The bills payable have been reduced
455,798 by the payment of notes amounting to $203,640.” * * * “ We have
done a very large business with New York in connection with the boats
only. 110 months only.
—(V. 28, p. 87.140, 200, 554; V. 29, p. 67, 121, 293, 330, 379, 564;
V. 30, p. 67, 144, 375, 567, 589, 650.)
11 months
of the Old
reduced by
Colony Steamboat Company. The rates have been much
competition, but the general results of the business are very*
satisfactory. While the steamboat company in which this corporation
has a large interest has paid no dividends, its profits have been sufficient
Norwich d Worcester.—Norwich, Conn., to Worcester, Mass., 59 miles; to reduce its bonded debt by $56,500, to purchase an additional boat—
at a cost of $47,500, and reserve a sufficient surplus for its. Winter
branch: Norwich to Allyn’s Point, 7 miles; total, 66 miles. In 1869 the
Toad was leased to the Boston Hartford A Erie for 100 years, the lessees expenses. It is in condition to resume dividends in January. The policy*
directors to decline all alliances, and conduct its business inde¬
to pay all liabilities and 10 per cent on the capital stock. There has of the
been some discussion as to reducing the rental, and the present lessee pendently, has proved successful and will be continued. At a special
meeting of the stockholders held on January 31,1879, the lease of the
company has the option to terminate the lease, and now operates under B. C. F. A N. B. RR. as
negotiated by the directors was approved and
temporary agreement (see V. 28, p. 200). Earnings, &c., for four years confirmed.
this
lease
By
the
length of the lines operated by the company
past have been as follows:
has increased to 453*96 miles, the greatest number of miles operated by
Years.
Net
Gross
Earnings.
*
Revenue,
Int Test A
Dividends.
Total
$311,965
$ 120,580
716,635
315,107
416,243
347,129
666,883
269,779
312,095
319,533
$728,081
—(Y. 27, p. 537; V. 28, p, 200.)
Earnings,
$281,376
any
corporation in the Commonwealth.
It is too early to determine
exactly the benefits resulting from this lease. In the opinion of tho
directors its benefits are greater than were anticipated. The terms of tfea
lease are fair, and were understood to be advantageous to both parties!.
The leased line was doing a competing business, which could be con¬
ducted more economically and with advantage to the public by a union
of interests. The increase in business datea from the inception of *h»
*
9
RAILROAD
44
great favor by giving
Snbscribera will confer a
explanation of column headings,
on first page of tables.
1874-569
Old Colony—(Continued)—
Bonds (not mortgage) coupon
Bondsdo
do
Bonds
^ do
do
Oregon d
Orcaon
&c., see notes
Date
Size, or
Par
of
Road. Bonds Value.
do
do
•
•
»
1875
1876
1877
1870
*
200
48
Central—1st mortgage..
2d mortgage
Oswego d Rome—1st mortgage guaranteed
Income mortgage bonds
Oswego d Syracuse—Stock, 9 per cent guar
35
35
Consol, mortgage (guar. D. L. & W.)
Paducah d Elizabethtown— 1st mortgage
186
186
62
income
Painesville d Youngstown—1st mortgage
2d mortgage,
2d mortgage
1865
1866
(£1,000,000)
mortgage
do
9
.
9
gold
Navy Yard bonds, reg
Car Trust bonds (sinking fund 10 per
® •
*'
cent)
Pennsylvania Co.—Common stock
•
•
•
Outstanding
$500,000
1,100,000
2,000,000
10,950,000
1867
....
124,000
338,000
299,994
3,989.000
50
1,000
.
(?)
630,000
500,000
68,870,200
4,970,000
19,999,760
4,091,e75
1,000
1,000
28.901,540
5,000,000
1,000
1,000,000
3,000,000
1,000
50
50
1877
1877
-
£200
1,000
1873
1879
1875
1877
1,320,400
ioo
.
1870
300,000
350,000
200,000
1,141,000
993,000
250,000
7,000,000
•
Preferred stock
Judgment bonds (held by Pennsylvania RR.)
Reg. bonds, secured by I-. Ft.W.& C. special stock
50
58&64 500 <fcc.
1876
1,000
1877
1,000
1877
1,000
1,669
Pennsylvania—Stock
355
1st mortgage (payable now on demand)
Gen. M., Pli. to Pitts., coup., J. & J.; reg., A. & O.
State lien (pay ’ble in annual inst’lm’ts of $400,000)
Consol. M., coup. J. & D., & reg. Q.—M. is. f. 1 p. c.)
™
1,000
1,000
.
47
47
15
15
11
Passaic d Delaware—Stoca
$1,000
1,000
1,000
Amount
4,395,000
28k3
Mortgage bonds
Paterson d• Hudson—Stock
Paterson Newark d New York— 1st
immediate notice of any error
Miles
of
and registered
California—1st mortgage
Panama—Stock..
General mortgage, sterling,
BONDS.
[Vol. xxx.
discovered in tbese Tables.
\Bonds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS AND
1,000
1,000
3,000,000
8,000,000
6,400,000
3,200,000
Rate per
When
Cent.
Payable
6
6
6
7 g.
7
7
7
7
4*2
7
7
8
7
7
Where Payable,
Whom.
pal, When
and by
June 1.1895
Boston, Office.
J. & D.
M. & S.
F. & A.
A. As O.
Due-
Stocks—Last
Dividend.
do
do
Frankfort O. M.
Sept. 1, 1896
Aug. 1. 1897
April 1, 1890
July 15, 1891
Men. 1, 1906
May, 1915
N.Y.,Farmers’ L.ifcT.Co.
....
N.
do
do
A.
A. N. Y., Del., L. & W. RR.
do
do
N.
do
do
S.
A. N. Y., Ex. Norton Si Co.
do
do
April.
M. &
F. &
F. &
M. Si
M. &
F. &
....
Feb., 1891
Feb., 1880
1880 & 1885
1907
Feb. 1, 1897
Feb. 1, 1897
Nov. 1, 1902
....
....
4
7 g-
A. & 0.
4^2
J.
New York, Office.
London.
Q*—J.
May 1, 1880
1884, ’89 &’97
....
7
3
6
6
5
6
&
New York.
J.
-
Jan., 1880.
....
M. & N.
J. & J.
Philadelphia, Office.
do
do
Philadelphia Si London.
Philadelphia.
Q.-M. Philadelphia Si London.
Q.-J.
May 28, 1880
Dec. 31, 1880
1910
A. & 0.
Annually.
5
6
6 g.
J. & D.
J. & J.
June 15, 1905
Dec. 1, 1909
Jan. 1, 1881
3
6
6
A. & 0.
mmm9
do
do
Philadelphia, Office.
Phil.,Pa., Co.,forins.&c.
*
....
Pittsburgh, Co.’s Office.
Philadelphia.
....
do
Q.-J.
Oct., 1873
Demand.
July 5, 1907
the Pennsylvania Railroad, and operates all the leased lines west of
increase—in some months quite Pittsburg.
The stock is owned by the Pennsylvania Railroad. The
for five years past were as follows:
whole number of miles operated or in any way controlled by this com¬
Passenger Freight (ton)
Gross
Net
Div pany is 3,547. In 1879 the net income over rentals, interest, &c., was
Years.
Miles. Mileage.
Mileage. Earnings. Earnings, p. c. $1,571,990 and advances to railroads charged off $219,335, leaving
265 61,295,T»20 18,371,231 $2,223,892 $670,148 7
$1,352,655 profit. An abstract of the company’s report for 1879, with
269 59,025,834 17,896,779 2,122,518 645,990 6
results on each road operated, was published in the Chronicle, April 24,
290 50,628,616 21,387,713 2,174,884- 720,711 6
1880, with the balance sheet, &c. The registered bonds are secured by
301 58,845,895 18,446,307 2,077,616 703,278 6
deposit of $4,000,000 of Pittsburg Fort Wayne & Chicago special stock.
2,828,487 1,799,152... —(V. 28, p. 580; V. 29, p. 118 ; V. 30, p. 431.)
—(V. 29, p. 537; V. 30, p. 15.)
Pennsylvania.—The lines owned by this company are from Philadel¬
Oregon d California — Line of road-Portland, Or., to Roseburg, 199 phia to Columbia, Pa., 80 miles; Harrisburg to Pittsburg, Pa., 249 miles;
miles. This company smtcecded to the Oregon Si Central Railroad, branches, 101 miles; total owned, 430 miles. Leased as a part of the
organized under act of Congress July 25,1S66, and took that company’6 main line, Harrisburg <fe Lancaster Railroad, 54 miles; other leased
land grant. The company has been in default since 1873, and com¬ roads and branches, 1,322 miles; total owned and leased, 1,806 miles.
promised with its bondholders without foreclosure. In 1878 net earnings The operations of the Pennsylvania Railroad cover so large a field that
were $237,665.
a reference to the annual reports is necessary to give any adequate idea
(V. 27, p. 358, 437.)
The 5 per cent
Oregon Central— Portland to St. Joseph, Oregon, 49 miles. Opened of its working and condition from year to year.
bonds of 1879 are issued to take up the first mortgage and Navy
November 3, 1872. The Oregon Si California Railroad have obtained
An abstract of the latest report
control of this line and propose to extend it to South Corvallis, 50 miles. Yard bonds due January. 1881.
In 1878 there was a net loss on operations.
T. R. Cornelius, President, issued, that for 1879, was published in the Chronicle (V. 30, p.
244), showing surplus net income of $1,797,191 after paying all
Portland, Oregon.
charges and 4*2 per cent dividend. In 1879, on all lines east of Pittsburg
Oswego d5 Rome.—Richland, N. Y., to Oswego, N. Y., 29 miles. Road and Erie, the gross earnings were $2,983,544 over 1878 and net earnings
opened January 1, 1866. It is leased to the Rome Watertown & Ogdens- $624,978 over 1878. All the lines west of Pittsburg showed a surplus
burg Railroad at 8 per cent on its stock and 7 per cent on guaranteed over all liabilities of $1,526,817, being a gain of $1,082,836 over 1878.
bonds.
The total cost of stocks and bonds of other companies owned by Penn¬
Oswego d Syracuse— Oswego, N. Y., to Syracuse, N. Y., 35 miles. sylvania Railroad was $65,481,682. A scheme to buy up the company’s
Leased in 1868 to the Delaware Lackawanna & Western Railroad Co. guaranteed securities with $100,000 per month from earnings, and issue
for 9 per cent per year on stock and interest' on bonds. In 1877-78 net a 4 per cent scrip to stockholders for the cash so used, was adopted by
©arnine-s were $74,852, and payments by the lessees, $151,176, leaving stockholders on March 26,1878, but not carried out till November, 1878,
when it was started at $50,000 per month. The entire amount paid
them a'deficit of $76,323.
by
the company into the Trust up to the end of 1879 was $700,000. There
Paducah d Elizabethtown.—Elizabethtown to Paducah, Ky., 186 miles. have
been purchased for the fund securities of the par value of $773,Formerly Elizabethtown <2 Paducah, and again -the Louisville Paducah 100, which yield an interest of 7*4 per cent per annum upon the invest¬
& Southwestern. The road and a branch to Louisville were foreclosed ment.
The annual report for 1879 stated: “It having come to the
August 24,1876. The Cecilian branch to Louisville, 45 miles, was sold knowledge of j our Board that offers had been made by other parties to
again to the Louisville Si Nashville Railroad. The common stock is the City of Philadelphia for the purchase of the 59,149 shares of your
$1,426,500 and preferred $1,426,500. An interest dividend of 4 per stock held by the Commissioners of the Sinking Fund, it was deemed
cent was paid on income bonds in April, 1880, out of earnings of 1879.
wise for the protection of your interests, and to keep this stock out of
Net earnings in 1879-80, $83,232.
(V. 28, p. 402, 623; V. 30, p. 432.) the hands of parties whose interests might be unfriendly thereto and to
Painsville d Youngstown — Fail-port, Ohio, to Youngstown, Ohio, 62 those of Philadelphia, to purchase the same at par. The transaction
miles. The company made default in its interest, and a receiver took was closed upon that basis, and the stock, having been paid for, is
possession February 14, 1877. Road was sold in foreclosure June 2, now held in trust as an asset of your company.” The claims against
1879, for $192,000. The nominal stock was $2,500,000. Terms of reor¬ the county of Allegheny, growing out of the riots of 1877, have been
compromised, and the sum of $1,600,000 has been received in full settle¬
ganization not yet known. Paul Wick, President, Youngstown, Ohio.
ment of the losses incurred by this company and the lines controlled by
Panama.—Aspinwall to Panama, 48 miles. Opened through January it in the destruction of property at Pittsburg. The claims of individual
28, 1855. This road had a practical monopoly of the California business shippers and other corporations against the county are being generally
till the opening of the Pacific Railroads in 1869. Another serious blow adjusted upon the same basis as that arrived at with the company.
to its exclusive business was the establishment of the British steamship
Many of the stocks and bonds owned by the company in consequence of
line from England to the West Coast of South America, around Cape the general revival of business have largely appreciated in market
Horn. The company, however, has paid large dividends. The report value. But, notwithstanding this, the Board have charged against the
for 1879 was in V. 30, p. 381, and the operations and income account profit and loss account a further reduction in the estimated value of
for three years were as follows:
1879. doubtful securities, and, the report says, it is believed that they are now
1878.
1877.
worth, at a fair appraisement, the full amount at which they are charged
23,729
24,921
22,110
Passengers carried
upon the books. It will be remembered that out of these assets the
161,743
152,477
146,942
amount required for construction purposes in 1879 was provided, and a
Freight (tons) moved
$
$
$
reference to the statements attached to the treasurer’s account will show
Receipts—
1,202,144 that the bonds and stocks owned by the company, including those
1,227.292
1,230-,420
Net earnings
254,392 acquired during the year, represent a par value December 31, 1879, of
196,269
149,937
Rentals and interest
195,213 $100,143,984, at a cost of $65,481,652, as compared with a value Dec.
158,887
163,294
Other receipts
31, 1878, of $99,751,338 and a cost of $66,670,510. ‘
1,651,749
1,582,448
1,543,651
Total income
GENERAL INCOME ACCOUNT FOR THE YEARS 1879 AND 1878.
$
$
$
Disbursem en ts—
Summary.
1879.
270,853
239,889
209,468
Interest on debt
Net income Pennsylvania RR. and branches, as above
$7,482,480
12,932
9,939
lease. There lias been a regular monthly
1 arge.” Operations and earnings
.
Drawbacks on produce
Dividends
Subsidy to C. S. Colombia
840,000
250,000
231,683
Balance, surplus
—(Y. 28, p. 376, 402,
12,500
910,000
250,000
239,627
210,957
580, 381.)
Passaic d Delaware.—Summit, N. J., to
The New Jersey West Line Railroad was
company organized October, 1878,
& Essex lessees (Delaware Lackawanna
operated.
York City.
840,000
250,000
Bernardsville, N. J., 15 miles.
sold in foreclosure and this
by parties identified with the Morris
Si Western), by whom it is
Nominal stock, $1,000,000. Samuel Sloan, President, New
Paterson d
The road was
Hudson.—Jersey City, N. J., to
opened in 1834, and leased in
Paterson, N. J., 15 miles.
perpetuity September 9,
1852, to the New York Si Erie, at a rental of $53,400 per year. J.
Rogers, President, New York City.
Paterson Newark d New York.—Leased to New York Lake Erie
S.
939,889
operating New Jersey Div.. $6,542,591
Division, as above
Balance after deducting loss in
Deduct advances made to companies
east of Pitts¬
.$802,780
600,000
sinking fund . 243,460— 1,646,240
Showing balance to credit of income account after deduct¬
ing therefrom all payments made during 1879 for which
the company was responsible, and that should be charged
against income account
$4,896,350
Out of which were paid dividends of 41s per cent
3,099,159
burg, Pa
Payments to trust fund
Payments to consolidated mortgage
credit of profit and loss $1,797,191
4,057,815
of profit and loss, Dec. 31,1878
Leaving amount to be transferred to
account for 1879
Add amount to credit
&
$35,000 per year.
Pennsylvania Company.—The Pennsylvania Company is a corporation
chartered by the Pennsylvania Legislature, April 7,18/0, distinct from
Western at
Net loss New Jersey
$5,855,007
Add amount realized from
old accounts,
122,840
$5,977,847
RAILROAD STOCKS AND BONDS.
Jwne, 1880.J
Subscribers will confer a great favor
DESCRIPTION.
For
explanation of column headings, &c., see notes
on first page of tables.
1st mortgage, guaranteed
Peoria d Bureau Valley—Stock
1st mortgage bonds
PeoiHa Decatur d Evansville— Stock
by giving immediate notice of any error discovered in tbese Tables.
....
Date Size, or
of
Par
Road. Bonds Value.
1866
1866
J st mortgage, gold, coupon
Income bonds, not accumulative
2d mortgage
Perkiomen—1st mortgage
„
Consol, mort., gold, guar. P. «fc R., (sink,
fund)
Peterborough (N. H.)—Stock
Bonds (not mort.)* redeemable after 1882
Peter sb urg—Stock
1st mort. bonds (payable $25,000 yearly)
1,000
100
1,000
1,125.000
100
385,000
159,500
1,324,200
500,000
300,000
500 &c.
100
....
....
82
36
36
10
287
•
500 &c.
....
82
•
1,000
1,000
1877
82
•
....
....
....
2d mortgage
1,500,000
1,200,000
300,000
5,000,000
1,287,000
858,000
1,000,000
1,000,000
799,600
100
1880
1880
1864
1870
1867
1873
83
83
38
38
11
Peoria Pekin d Jacksonville- 1st mortgage
$1,500,000
1,000
•
....
....
Amount
Outstanding
$1,000
....
1853
8671781
Philadelphia <£ Balt. Central—1st mort. (Pa)
2d mortgage (Pa.)
1st mortgage (Md.)
:
Philadelphia d Eric—Stock, common
Preferred stock
1st mort., Sunlmry& E.
1st mortgage
2d mortgage
.
(extended 20 years in ’77).
($3,000,000
are
sterling)
$20,000,000), guar by Pa. R.
Philadelphia Germantown d Morristown—Stock. ...
Philadelphia Newtown d New York—Stock
Consol. M.t gold (for
Bonds, guar, by Pliila. & Read
Philadelphia d Reading—Stock, common
Preferred stock
1
•
-
....
•
100 <fcc.
100 &c.
100 &c.
50
50
1859
1869
1866
1857
1861
1868
1,000
1,000
1869
1,000
50
50
2.231,900
1,200,000
....
....
.
40
287
287
287
29
1,000
....
50
50
....
„
779
779
1843-9
1,000
1857
1,000
Railroad Co., under trust
Balance
From which balance there
value of securities, etc..
created Oct. 9, 1878... 100,000— $200,000
LINES WEST OF PITTSBURG.
Leaving net earnings
From this deduct;
$23,790,228
15,305,533
15,184,805
$10,436,762
$8,605,423
8,612,674
7,621,234
$1,824,083
$984,188
Indiana Central Railway, paid over to the
receiver under order of the court, and other
liabilities of the Pennsylvania Co., includ¬
the
Pennsylvania Railroad Co
Net profit on all
held by
lines west of Pittsburg
..
$55,4.26,962
35,639,794
33,611,034
$24,722,780
$21,815,928
Freight Traffic.
1879
/
,
.
Ecist of Pittsl)ur°*
and Eric
24,970,672
West of Pittsburg 20,166,334
?.
Totals
1878
& J. N. Y.,
Met. Nat. Bank.
■
do
do
J. & J. N.
A. & O.
A. & 0.
J. & D.
Y., Imp. & Trad. B’k.
do
do
Phihi., 227 S. 4th st.
do
do
Nashua, Treasurer.
A. & O. Boston, N. E. Trust Co.
May.
J.
J.
& J.
& J.
<fc J.
& J.
& J.
A.
A.
J.
J.
&
&
&
&
1920
1920
1894
1900
Juno 1,
1913
1879-’98
,
1902
do
Jan., 1879
Jan., 1900
Oct., 1891
Philadelphia, Office.
do
do
1887
May, 1878
Oct. 1, 1897
Jan., 1872
N.Y.,R. A. Lancaster <&Co Jan
do
J.
J.
J.
1,
1,
July 1,
Oct. 1,
Apr. 1,
Jan.
Jan.
do
do
....
Philadelphia, Pa. RR.
7
6 & 6 g.
7
6 g.
3
do
do
O.
0. Philadelphia & London.
J. Philadelphia, Pa. RR.
J. Philadelphia & London.
Q.-M. Pliila., Treasurer of Co.
Oct.
Mar.
1, 1897
31,1881
July 1, 1888
July, 1920
Mar. 3.
1880
*
_
■
6
Q.-j.
2ic
3*2
6
6
Philadelphia, Office.
Q.-J.
J.
J.
.
& J.
& J.
do
do
do
do
do
do
Jan. 25,1876
July 25,1876
July, 1880
July, 1886
Pennsylvania d New York (Canal and Railway).—Wilkesbarre, Pa., to
$599,791.
Perkiomen.—Perkiomen Junction, Pa., to Emans Junction, 39
nineteen years from August 1,1868, to
miles
Phila¬
lessees; but
May, 1879.
(V. 30, p. 64.)
Peterborough.—Wilton to Greenfield, N. H., 11 miles.
Completed Jan.
1, 1874. and leased by Nashua & Lowell Railroad for 20 years from
1873 at 6 per cent on cost of the road. In 1879 lessees withheld rental
and dividend was not paid. James Scott, President, Peterborough, N.H
Petersburg.—Petersburg, Va., to Weldon, N. C., 64 miles. In May, 1877,
receiver was appointed and foreclosure proceedings arc pending. In
1877-8 net earnings were $26,518.
(V. 30, p. 249.)
s
a
,
Number of
passengers
East of Pittsburg
and Erie.
West of Pittsburg
passengers
one
21,863,966
Totals
mile.
April 3018-2838
May. 30 -27
37%-343s
38 -36*8
39*8-3678
8,041,674
,
Monthly Earnings.
1878.
1879.
1880.
$
$
$
,
5212-5058 2,396,296 2,543,425 3,083,552
53 -515s 2,162,909 2,538,039 2,944,576
5234-5134 2,499,286 2,603,068 3,278,186
54V5238 2,509,805 2,630,022 3,488,366
55
-48
.........
2,503,442 2,708,695
2,380,200 2,390,810
2,536,733 2,782,906
2,972,601 2,982,718
2,858,646 3,336,528
3,215,419 3,518,144
2,996,101 3,131,997
2,605,296 3,453,925
Philadelphia d Erie.—Sunbuiy to Erie, 287 miles. Formerly SunIt was leased to Pennsylvania Railroad for 999
years from January 1, 1862, the lessees to pay 30 per cent of gross
receipts as rental, but modified January 1, 1870, so that actual net
receipts are paid as rental. The consolidated mortgage is guaranteed by
the Pennsylvania Railroad. The unpaid coupons of i$l,508,459 are held
by the lessee for advances. Last annual report was in V. 30, p. 190Operations and earnings for five years past were as follows:
bury & Erie Railroad.
292,725,524
247,275,166
of Pittsburg <fc Erie have been :
Prices of Stock.
1880.
1879.
35*8-3238
35V3438
3514-34
12,792,305
Number of
passengers
one mile.
583,776,686 20,833,979
540,000,690
of the Pennsylvania RR. stock, and the
/
Jan.. ,3338-2938
Feb.. 3038-27^
Mar.. 2934-27
Number of
passengers,
314,260,989
269,515,697
13,602,401
8,261,565
The monthly range in prices
gross earnings on all lines east
June. 31i2-28i2
J.
Philadelphia d Baltimore Central.—Westchester Junction to Octoraro,
19,121,977 2,431,807,656 Md., 46 miles; leased Chester Creek Railroad, 7 miles, and Columbia <fe
16,871,837 1,814,100,152 P. Deposit Railroad, 4 miles; total operated, 57 miles. After June
23,1870, the road in Pennsylvania went into possession of the trustees
45,137,006 5,334,194,434 35,993,814 4,245,907,808 for the bondholders. No foreclosure has taken place. The common stock
Passenger Traffic.
is $220,606 and preferred $242,950. Net earnings in 1877-8, $86,849 ;
1879
—
1878
»
in 1876-7, $96,195; in 1875-6, $124,701.
Number of
1878.
6 g.
6
7
7
6
6 g3
6
3
8
8
7
7
6
3,061,47S,249
2,272,716,185
,
,
do
One-naif the interest on the consolidated mortgage has been paid for
three years in Philadelphia & Reading scrip, according to the Philadel¬
Number of
Number of
tons.
tons one mile.
Number of
Number of
tons.
tons one mile.
do
1890
June, 1906
Feb., 1880
Aug. 1, 1893
*
phia & Reading compromise.
$60,362,575
all lines, from traffic
excluding rentals, interest,
Showing net earnings
N.Y.,Chic.,R. I. & Pac.
& A.
June 1
delphia & Reading Railroad, and bonds guaranteed by the
the property was surrendered and all control given up in
WEST OF PITrSBUItG.
1879.
1878.
dividends, &c.
do
The road was leased for
SUMMARY OF LINES DIRECTLY OPERATED EAST AND
Gross earnings,
Gross expenses,
& A.
America.
Peoria Pekin d Jacksonville.—Peoria, Ill., to Jacksonville, Ill., 83 miles.
The stock is $1,000,000 common and $239,700 preferred, The road was
sold in foreclosure November 14,1879, for $950,000 to Solon Humphreys
of New York, reported to be for the Wabash St. Louis & Pacific. Gross
earnings in 1877-78 were $227,501; net, $29,194. (V. 28, p. 554; V. 29,
p. 68, 226, 302, 539.)
Rentals, interest, dividends and liabilities of
all kinds chargeable thereto, including the
net earnings of the Columbus Chicago
ing $402,616 interest on the bonds
D. Phila., B’k N.
do
& D.
&
Stocks—Last
Dividend.
Peoria Decatur d Evansville.—This road is a consolidation of the
Pekin Lincoln & Decatur Railroad (formerly leased to the Wabash) and
the Decatur Mattoon & Southern and the Grayville & Mattoon, from
Peoria to Parkersburg, Ill., a distance of 181 miles. The old mortgage
on the Pekin Lincoln & Decatur road was $16,000 per mile, but under
the new consolidation has been reduced to $12,000 per mile.
(V. 29, p.
658; V. 30, p. 92, 222, 375, 434, 493.)
1878
1879.
$25,742,296
Whom.
Peoria d Bureau Valley.—Bureau Junction to Peoria, Ill., 47 miles.
The road was leased in perpetuity April 14, 1854, to the Chicago & Rock
Island Railroad at a rental of $125,000 per annum. Officers same as
Rock Island.
$4,181,073
following statement gives the result of the lines owned or con¬
trolled by the company west of Pittsburg and operated by the Pennsyl¬
vania Company:
Expenses for the same period were
Payable, and by
700, and preferred stock, $4,000,000. Net earnings in 1878-9,
Robert H. Sayre, President, Bethlehem Pa.
(V. 30, p. 220.)
1,596,773
The
The total earnings of the Pennsylvania Co. on
lines operated by it, and through organiza¬
tions worked under its control, were
1,551,800
1,510,500
79,000
J.
J.
F.
F.
7
7
4
8
Where
When
Payable
New York State Line, 104 miles. Branches to mines, 23 miles. Operated
in connection with the Lehigh Valley Railroad. Common stock, $1,061,-
$5,777,847
has been deducted reduction in
profit and loss Dec. 31,1879
Balance to credit of
32,726.375
Rate per
Cent.
pal,When Due.
—(V. 28, p. 97, 224, 249, 328, 428, 526, 649; V. 29, p. 96, 146,162,197
226, 253, 330, 435, 564, 602, 680; V. 30, p. 67, 117, 222, 244, 249, 274,
298, 323, 434, 494, 556.)
-
Pennsylvania Railroad’s consoli¬
dated mortgage bonds, redeemed during 1878...$100,000
Less amount paid in 1878 to the fund for the pur¬
chase of securities guaranteed by Pennsylvania
°
700.000
....
mortgage, convertible
Less amount of
800.000
400,000
300,000
6,053,700
2,400,000
976,000
5,000,000
3,000,000
8,680,000
....
Mortgage loans inconvertible
Loan
•
-
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Miles
of
105
105
46
47
181
Pennsylvania d New Tork—1st mort., guar
45
Passenger
Mileage.
Miles.
1875
287
15,117,810
1876....'.... 287 ' 22,425,613
287
12,466,005
287
11,444,005
287
11,562,653
Years.
—(V. 28, p. 252; V. 30, p.
Freight (ton)
Mileage.
311,919,109
340,390,703
335,727,141
381,300,202
505,918,017
Gross
Net
Earnings.
$3,365,897 $954,616
3,352,979 1,164,536
3,172,993 1,123,366
2,921,060
876,111
961,549
3,091,807
Earnings.
190.)
Philadelphia Germantown d
Norristown.—Philadelphia, Pa., to Norris¬
Germantown Branch, 3 miles; Plymouth Railroad,
9 miles; total, 29 miles. The property was leased Nov. 10, 1870, to
Philadelphia & Reading Railroad for 999 years at a rental of $269,623
4378-4118
and $8,000 yearly for organization expenses. Dividends of 12 per cent
Oct.. 35 ie-323s 48 V42 ?8
per annum are regularly paid.
Nov.. 3438-3212 5114-4758
Dec.. 33i8-31i2 5138-4912
Philadelphia Newtown d New York.—From Newtown Junction to
Operations and earnings for five years past, on main line and branches, Newtown, Pa., 22 miles. Capital stock, $1,200,000. On November 10,
were as follows:
1879, the Philadelphia & Reading Railroad purchased 12,012 shares,
Net
Gross
Freight (ton)
Passenger
giving control of the property, and guaranteed the bonds
(See
July. 3312-31
Aug. 323t-31*2
Sept. 3514-3238
4058-3918
4158-40
.........
.........
.........
.........
.........
.........
Years.
1,055
1,055
Mileage.
160,421,998
288,312,089
143,153,521
142,036,106
1,092
155,784,178
Miles.
904
963
town, Pa., 17 miles;
Earnings.
Earnings. Chronicle, Y. 29, p. 512.;
Mileage.
1,479,414,466 $20,493,638 $8,699,585
Philadelphia d Reading— Main line, Philadelphia to Mount Carbon
20,788,076 8,335,387
1,629,742,021
1,494,798,198 18,983,456 8,232,317 Pa., 98 miles; branch lines owned, 233 miles; leased lines. 495
1,732,003,131 20,317,140 9,396,037 miles; other lines controlled, 66 miles; total operated, 892 lines. In
2,136,708,000 21,743,628 9,992,007 May, 1879, this company leased for 990 years the North Pennsylvania
RAILROAD
46
STOCKS
BONDS.
AND
[Vol. XXX.
discovered In these Tables.
Subscribers will confer a great favor by giving Immediate notice of any error
DESCRIPTION.
Miles
Date
or
Par
Amount
Rate per
Cent.
of
of
explanation of column headings, &c., see notes
on first page of tables.
Road. Bonds Value. Outstanding
For
Bonrf#—Princi¬
INTEREST OR DIVIDENDS.
Size,
When
Payable
Where Payable, and by
Whom.
pal,When Due.
Stocks—Last.
Dividend.
\
Philadelphia d- Reading— (Continued)—
Loan mortgage, sterling
do
do
do
do
Loan debenture
Loan mortgage
do
do
779
1836
1843
1867
1868
1868
1871
1871
1871
1873
1873
1874
1876
779
779
(Extended in 1877.)
....
779
779
779
779
Consolidated mort., $ loan, coupon or reg
do
do
gold, $ or £, coup
do
do
$, gold, coup, or reg
Debenture loan (convertible 1876-92), coup
Improvem’t mort., $ or £, sink’g fund, coup
Gen. mort., $ and £ (sink, fund 1 p. c.
Income mortgage (for $10,000,000)
....
yearly)
745
750
—
£100
$182,400
£500
967,200
134,400
1,135,300
2,700,000
10,649,000
6.999,000
968,000
10,499,900
9,364,000
19,686,000
2,331,000
10,000,000
3,472,973
1,832,760
586,000
$1,000
100 &c.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
771874-659. 81
Income mortgage of
Debenture and guar,
1879
bonds, 6 per cent cur’cy scrip
Gen. mort. and Perkiomen 6 per cent ster’g scrip
Bonds for Berks Co. Railroad
Coal & Iron Co., guar. mort. (for $30,000,000).
do
debentures, guaranteed
Philadelphia <& Trenton—Stock
....
....
....
....
..
convertible
•
•
....
149
Piltsb. <6 Connellsville.— 1st mortgage
Turtle Creek division
do
• •
10
149
200
200
Consol, mort., guar. B. & O. (s.f. £7,200 pr. yr.)..
PUts. C. <& St. L.—1st in., cons, (for $10,000,000)
2d mortgage
1st mortgage, Steubenville & Ind., reorganized...
Col. & Newark Division bonds
117
33
16
&c.
90 &c.
....
1,000
1872
26
112
95
Plain bonds, loan
do
do
do
do
1st
1877
1877
1878
1872-4
....
Philadelphia Wilmington <& Baltimore—Stock
1st mortgage,
1879
....
....
....
....
100
50
500
1858
1867
1,000
1872-4
1,000
1875
1.000
1868
1,000
1859
100 &c.
1876
£200
1868
1,000
1873
1,000
1864
1,000
1864
1,000
Railroad and Delaware «fc Bound Brook
Railroad, and at same time gave
the Perkiomen Railroad. (See terms of lease under names of those
companies.) The Berks County RR. was purchased at foreclosure and
paid for in bonds. The main business of this company has been the trans¬
portation of anthrac ite coal. The Philadelphia & Reading Coal & Iron
Company is a corporation formed (Dec. 12,1871) for the purpose of own¬
ing and working the extensive coal properties of this companv. The
Philadelphia & Reading RR. Company owns all the stock of the Coal & Iron
Company, and the trustees of the general mortgage of 1874 hold the bonds
of the Coal & Iron Company. Between 1870 and 1876 this corporation
increased heavily its capital account in the purchase of new properties,
and after paying 10 per cent dividends for many years ceased to pay
after January, 1876. The company was unable to meet all its obliga¬
tions. and in March, 1877, propositions were made and accepted, by
which holders of the general mortgage bonds and Perkiomen guaranteed
bonds receive one-half their coupons for three years in five-year 6 per
cent scrip; and holders of convertible and debenture bonds take 6 per
cent scrip in payment of their coupons for five years. The scrip is convert¬
ible into income mortgage bonds. The bonds due in 1880 will be ex¬
tended 30 years on payment of 10 per cent premium, or otherwise paid
off. In May, 1880, the company suspended payment, and on May 24
Franklin B. Gowen, Edwin M. Lewis and Stephen A. Caldwell were
appointed receivers of the railroad and coal companies. (See V. 30, p.
567.) The last annual report, published in the Chronicle, V. 30, p. 64,
gives a full statement of the condition of the company at the close of
the last fiscal year, November 30, 1879, together with the estimate of
the managers as to the company’s prospects for the ensuing year, sub¬
stantially as follows :
up
ESTIMATE FOR
1880.
The following table shows a comparison between the actual results
of 1879 and the managers’estimates for 1880. In the table for 1879
the total receipts, expenses and rentals of the North Pennsylvania Rail¬
road and the Delaware & Bouud Brook Railroad for an entire year are
included, in order to facilitate comparison with 1880:
1879.
Coal transportation
Merchandise transportation
$12,150,000
4,156,055
2,233,656
5,000,000
Passenger transportation
Miscellaneous receipts
For ship, coal at Pt. Richmond
1880.
$7,291,989
2,500.000
150,000
400,000
118,263
and Eliza’port
.$13,799,963
9,810,351
$20,200,000
11,500,000
$3,989,612
$8,700,000
.
.
Loss.
699,450
Profit.
2,500,000
$3,290162
$11,200,000
Coal & Iron Company.
Interest account, including full sinking
for 1879 on all sinking-fund debts
Net
funds
7,000,000
profits
$$4,200,000
Of this estimate the report says: “No account is taken in the above of
profits
steam colliers and barges,
of loss on canals, as the former
The prices of Philadelphia &
Reading stock and the earnings of the railroad, monthly, have been as
on
or
be expected to cover the latter.’’
may
follows
J.
J.
J.
J.
A.
J.
J.
J.
J.
&
&
&
&
&
&
&
J.
J.
J.
J.
0.
D.
&
J.
& O.
& J.
7
6
6
A.
J.
J.
J.
J.
6 g.
J.
5 g.
6
7
6
7
7
6 g.
6 g.
7
6
6 g.
M. &
2*2
4
6
6
6
6
7
6
6 g.
7
7
6
7
1,000,000
700,000
800,000
4,000,000
s
326,600
6,500,000
6,541,000
2,500,000
3,000,000
456,000
1878.
Jan.. 17*4-15*2
Feb.. 16 -13*2
Mar 1434-12%
.
April 15 -1314
May. 15*2-13
June. 1638-15
July. 19%-1638
Aug.. 18V1534
Sept. 16 VI5^
Oct.. 1614-1278
Nov.. 1378-1214
Dec.. 1238-1138
1879.
13V11*2
13*2-12*4
1318-1238
15%-1258
22*2-15*2
20V1914
21*8-18%
21*4-16*4
19V1634
32V19
37V30
36 -32%
1880.
1879.
$
36*2-33%
673,980
35 -32
525,410
36 -34*s
695,334
3538-29*4
991,028
30V 87s 1,286,014
1,498,658
987,721
1,402,792
1880.
$
$
957,215 1,316,089
877,865 1,063,309
1,041,142 1,457,321
1,142,864
1,332,547
1,343,014
1,303,522
1,462,280
1,374,013
779,481
1,408,674 1,542,911
1,683,022 1,531,204
881,656 1,442,587
Operations and earnings for five years past were as follows:
Net
Passenger
Gross
Freight (ton)
Years.
Miles.
Mileage.
Earnings.
Mileage.*
Earnings.
799
76,556,003
555,128,028 $12,660,927 $1,530,768
799
799
799
123,871,237
74,315,237
75,110,715
556,121,169
711,526,398
610,492,192
12,227,510 3,717,161
12,142,910 4,391,217
11,539,593 4,220,227
13,106,352
*
4*119,011
Including coal.
—(V. 28, p. 66,113, 328,428, 527, 580, 625; V. 29, p. 18,121,226, 330.
408,435, 460, 512, 553; V. 30, p. 64,118, 222, 314,434, 494, 555, 567,
650.)
&
&
&
&
&
July, 1880
July 1, 1882
July 1, 1893
Philadelphia, Office.
do
do
Oct. 1, 1893
do
do
June, 1911
Philadelphia & London. June, 1911
June, 1911
Philadelphia, Office.
Jan. 1, 1893
Philadelphia, Office.
Philadelphia or London Oct. 1, 1897
London & Philadelphia. July 1. 1908
Dec. 1, 1896
Philadelphia, Office.
.
do
do
Philadelphia.
Philadelphia, Office.
London & Philadelphia.
Philadelphia, Office.
Philadelphia, Office.
Philadelphia & Boston.
S.
Q.-J.
J.
J.
A.
A.
A.
J.
F.
J.
F.
A.
July, 1880
do
do
D.
D.
do
J.
do
J. London &
Various
7
7
1,731,000
1,259,100
11,572,750
253,500
J.
J.
0.
O.
O.
do
do
do
do
July, 1882
July, 1882
May 1, 1898
1892 to ’94
1892
July 10,1880
July 6, 1880
July, 1884
April, 1887
>
Phil’delphia, Co.’s Office Oct. 1, 1892
do
do
April 1, 1900
& J.l Balt., Balt. & Ohio RR.
July, 1898
&
&
&
&
A. Pittsb., First Nat. Bank Aug. 1. 1882
J. London. J.S.Morgan&Co Jan. 1. 1926
A. Pliila., Pa. RR. Office.
Aug. 1, 1900
do
do
O.
April 1, 1913
M’nthly N. Y. Agent, 57 B’way. May. 1884
J. & J.l Phila., Pa. RR. Office.
Jan., 1890
Philadelphia <£ Treaton.—Philadelphia, Pa., to Morrisville, Pa., 27
miles. On Dec. 1, 1871, it was
New Jersey to the Pennsylvania
leased with the United Companies of
Railroad, and is operated as a part of
jts New York division. Regular dividends of 10 per cent are paid.
Philadelphia Wilmington <£ Baltimore— Philadelphia, Pa., to Balti¬
Md., 96 miles; Port Deposit Branch, 4 miles; Southern Division to
Rodney & Newcastle, Del., 12 miles; total,main line and branches, 112
miles; Delaware Railroad (leased), 95 miles; total operated, 207 miles.
This road, on the main line to Philadelphia and Washington, has paid 8
per cent dividend for many years, with a considerable surplus. In May,
1880, purchased two-thirds of stock of the West Chester Philadel. RR.
more,
(See V. 30, p. 545.)
For the terms of Delaware lease, see Delaware RR.
Operations and earnings for five years past were as follows:
Div’d
Passenger Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings.-' Earnings. p. ct.
34,260,688 $2,849,554 $1,181,339
‘
38,094,439
3,305,438
1,576,044
1,161,216
42,089,750
2,916,250
1,095,103
46,080,501
2,660,446
2,849,919
1,284,346
-(V. 28, p. 67; V. 30, p. 545.)
1874-5...
1875-6...
1876-7...
1877-8...
1878-9...
100
100
111
112
112
65,634,440
104,810,706
59,160,438
60,504,494
8
8
8
8
8
Pittsburg <& Connellsville.—Pittsburg, Pa., to Cumberland, Md., 150
miles; branch, 2 miles; leased lines, 22 miles; total, 174 miles. On
December 13 1875, the property was leased to the Baltimore & Ohio
Railroad, and possession given January 1,1876. The rental is interest
on the debt and £7-200 sterling as an annual sinking fund.
The city of
Baltimore transfened its interest to the Baltimore & Ohio Railroad for
$1,000,000, and the consolidated sterling mortgage was made and guar¬
anteed by the Baltimore & Ohio. It is operated as the Pittsburg Division
of the Baltimore A Ohio Railroad. In February, 1880, a judgment in
fav or o f Baltimore
jre A Ohio Company was confessed for $4,354,748.
Stock
is $1,955,741. (V. 29.p. 535 ; V. SO, p. 249.)
Pittsburg Cincinnati <& St. Louis.—From Pittsburg, Pa., to Columbus,
O., 193 miles; branch to Cadiz, O., 8 miles; total, 201 miles. This was a
consolidation of several companies, May 1,1868, including the Steuben¬
ville & Indiana and the Pan Handle roads.
This company
is controlled
by the Pennsylvania Company, through the ownership or a majority of
its stock. This company also holds leases of the Little Miami and its
dependencies and of the Columbus Chicago & Indiana Central road,
which are operated by the Pennsylvania Company, and their earnings
separately stated. Common stock, $2,508,000; first preferred, $2,929,200; second preferred, $3,000,000. Gross earnings in 1879 of road
proper, $3,606,107;
net, $1,602,546; surplus over interest, &e.,
$605,480. Loss on leased lines, &c., $193,480; net profit, $412,000.
Operations and earnings for five years past wore as follows:
Net
Passenger
Freight (ton
Gross
Years.
Miles.
Mileage,
Mileage.
Earnings.
Earnings.
201
207,521,453
29,524,628
$3,185,248
$743,240
201
3,283,683
249,969,882
895,837
42,253,185
201
3,108,193
236,678,518
1,085,280
28,622,519
1878..... 201
28,804,112
287,757,418
3,176,371
1,186,764
1879
201
3,606,107
367,377,011
31,535,558
1,602,546
Comparative statistics for four years were as follows :
INCOME
Monthly Earnings
1878.
&
&
<fc
&
3, 4 ,5, 6 M. & N.
13,036,500
;
-Prices of Stock.-
D.
& D.
London.
Receipts—
Net earnings
Bills payable issued..
Rentals and interest.
Net from leased roads
All other accounts
...
Total income
Disbursements—
Rentals paid
Interest on debt
Other
Miscellan’s accounts.
Advances C. & M.Val.
To C.C.& I.C. acc’t, 75
Loss on St.L.V.&T.H.
Balance, surplus
Total
"
ACCOUNT.*
1876.
1877.
1878.
$
$
836,827
869,910
19,161
380,231
331,254
1,075,049
$
1.186,763
$
1,599,562
10,230
500,072
6,642,163
24,854
449,688
* 461,839
14,022
711,466
2,437,383
8,227,514
$
810,477
669,790
64,053
214,462
112,384
491,589
56,468
18,160
2,437,383
2,123,144
$
$
828,127
669,790
132,944
820,123
669,790
75,848
116,496,956
1879.
2,325,050
$
821,299
833,625
136,980
283,390
105,000
105,000
46,375
13,422
65,200
38,693
16,144
412,002
8,227,514
2,123,144
2,325,050
105,000
c
*
Exclusive of Col. Chic. & Ind. Cent.
t Includes—Sale of preferred stock St.
Louis Vandalia A Terr® Haute,
$200,000; sale Union Depot bonds, $186,000; amount of certain liabili¬
ties canceled and surrendered by Pennsylvania Co., $5,866,721.
+
Includes $180,400 bills payable of this company, canceled and sur¬
rendered by Pennsylvania Co.
-II Includes—Reduction of second mortgage bonds, $2,500,000; reduc¬
tion of bills payable,
$3,509,221.
RAILROAD
June, 1880.]
STOCKS
AND
BONDS.
47
Subscribers will confer a great favor by giving immediate notice of any error discovered in tbese Tables,
DESCRIPTION.
For explanation of column
on
headings, &c., see notes
first page of tables.
468
468
468
Pittsburg Ft. Wayne & Chicago—Stock, guar.
‘
5ial improvement' stock,
* guaranteed.
~
Special
1st mortgage (series A)
1st
1st
1st
1st
1st
2d
2d
2d
2d
2d
2d
3d
do
do
do
do
do
do
do
do
do
do
do
do
B
C
D
E
F
do
do
do
do
do
do
do
do
do
do
do
468
468
468
468
......
Bonds
all
pon,
but
G
cou¬
may.
be made paya-'
ble to order.
H
I
K
L
M
Miles Date
of
of
Road. Bonds
Pittsburg, Ft. Wayne & Chic, construction bonds.
Equipment bonds (renewed)
Pittsburg & Lake Erie— Stock
1st mortgage, gold, coupon
Pittsb. Titusville <6 Buff.—1st mort. (W. & F.RR.)..,.
1st mortgage (Oil Creek RR.)
1st mortgage (Un. & Titusville RR.)
2d mortgage (Pitts. T. & B.)
i
.468
468
468
468
468
468
468
468
.
70
70
50
38
25
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Size, or
pal,When
Due.
Amount
Rate per When Where Payable, and by Stocks—Last
Par
Outstanding
Value.
Cent.
Whom.
Dividend.
Payable
1879.
$100 $19,714,285
1871
1862
1862
18621862
1862
1862
1862
1862
1862
1862
1863
1862
1862
1857
1874
100
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
1878
1865
1,000
1,000
6,461,500
875,000
875,000
1,000
1,000
'
Pomeroy <£ State Line—Stock
Port Jervis & Monticello—Stock
Port Royal <£ Augusta - 1st mortgage
Income mortgage bonds, coup
67
30
21
23
112
1862
1,000
1870
500 &c.
100 &c.
500 &c.
Portland <£ Ogaensb.—1st mort., E. D., gold
90
New mortgage (for $3,300,000)
1st mortgage, Vermont Diy., gold
80
tn
^
^
m
m
«
1,000
a
50
m
1878
1878
1870
1871
1871
m
.
100 &c.
100 &c.
100 &c.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
1876.
$
Assets—
Railroad,equipm’t,&c 19,947,755
Stocks owned, cost...
Bonds owned, cost...
Betterm’tsto l’sed r’ds
Bills& acc’ts rec’vable
257,298
485,655
854,932
1,494,920
310,479
373,870
Total assets
$
$
19,942,295
19,942,295
85,498
317,855
644,952
1,158,840
29,820,756
23,056,586
$
$
||
Liabilities—
2,508,000
2,508,000
5,928,600
5,929,200
Bds. (see Supplem’t)
15,008,061 12,508,061
Bills payable.
3,5( 9,223
All other dues & acc’ts
1,447,138
721,954
Stock, common
Stock, preferred
.
Due Little Miami....
Due C. C. & I. C
Cin. Street Conn. bds.
Miscellaneous
Total liabilities.
*
.
Stocks and bonds
r 902,479
184,601
262,500
70,154
889,060
184,601
262,500
53,210
29,820,756
23,056,586
as
1879.
$
6,031,208
64,639
+
.
1878.
19,942,295
1454,013
59,316
329,178
64,639
Materials, fuel, &c...
Cash on hand
Deficit in assets
Miscellaneous items
1877.
.
1,000,000
8 *
2,000,000
1,500,000
6 g.
7
580,000
500,000
1,155,000
250,000
1,583,000
500,000
724,276
250,000
7
A.
M.
J.
7
7
7
7
6
468
468
•
do
do
do
do
do
do
do
do
do
do
do
do
O
do
do
do
do
J.
do
do
8.
do
do
N.
D.
J.
A.
S.
O.
N.
D.
July 1,
July 1,
July 1,
July 1,
July 1,
July 1,
July 1,
do
do
1880
1880
1912
1912
1912
1912
July
1912
1912
1912
1912
1912
1, T912
Jan.
1, 1887
July 1, 1912
July 1, 1912
July 1, 1912
Mch. 1, 1884
J. N. Y., Chem.Nat. Bank.
A.
Philadelphia, Office.
do
do
O.
do
J.
do
A.
do
do
do
do
N.
&
&
&
&
F. &
M. &
•
do
do
do
do
O.
-
July 1, 1928
Feb. 1, 1896
Apr. 1, 1882
July 1, 1890
1, 1896
May 1,1909
Feb.
•
A. & 0.
Philadelphia.
April 1,1902
....
....
6 g.
468
S.
J.
F.
A.
J.
....
2,300,000
Miles.
A.
J.
M.
•
7 g.
794,000
1,855,000
Years.
&
&
&
&
&
&
&
&
&
&
&
&
&
J.
F.
M.
6
6
6
6
1,500,000
Q.—J. N. Y., Winslow, L. & Co. Jan. 6,
do
Jan. 1.
do
Q.—J.
do
do
J. & J.
July 1,
F. & A
do
do
July 1,
M.
A.
M.
J.
7
7
7
7
7
7
7
7
7
1,099,706
m
'
77
7
7
2;ooo;ooo
50
1876
1879
I**
875,000
875,000
875,000
875,000
860,000
860,000
860,000
860,000
860,000
860,000
2,000,000
100,000
118765. 874-569
Buff. Chautauqua Lake & Pitts., 1st mortgage
Buffalo & Southwestern, 1st mortgage
Pittsb. Va. dk Charleston—1st mortgage, gold
120
1%
g.
g.
gg.
J.
J.
J.
M.
M.
&
&
&
&
&
J. N. Y., Office, 252 B’way.
J.
do
do
J. Boston, First Nat. Bank
do
do
N.
N. New York and Boston.
Passenger Freight (ton)
Gross
Mileage.
Mileage.
Earnings.
76,466,488 439,998,281 $6,928,856
77,819,493 637,470,506
7,830,109
8,452,382
Jan.
1, 1899
Jan. 1, 1899
Jan., 1900
Nov., 1901
May, 1891
Net
Earnings,
$2,864,457
3,689,196
3,051,254
Div’d
p.
ct.
7
7
7
*58,398
Pittsburg & Lake Eric.—From Pittsburg, Pa , to Youngstown, O., 68
*317,855
660,293 miles; branch line to Newcastle, Pa., 3 miles; total, 71 miles. Opened
1,202,433 Feb. 1, 1879. Floating debt, $751,550. The animal report was pub¬
1541,607 lished in the Chronicle, V, 30, p. 141. The gross earnings in 1879 were
237,543 $335,648; net, $157,923. The Lake Shore & Michigan Southern sub¬
37,504 scribed for $200,000 of the stock. (V. 28, p. 113,147; V. 30, p. 141.)
64,639
64,639
Pittsburg Titusville <£- Buffalo—Brockton, N. Y., to Irvineton, Pa.,
via Corry and Oil City, 139 miles, and Union to Tryonville, Pa., 18
23,297,655 23,062,567
miles, total 157 miles. This was a consolidation February 16, 1880, of
the Pittsburg Titusville & Buffalo Railway and the Buffalo Chatauqua
$
$
Lake &
In May. 1880, also merged the Buffalo & South¬
2,508,000
2,508,000 western, Pittsburg.
from Buffalo to Jamestown, 67 miles. (See V. 30, p. 625.)
5,929,200
5,929,200 The Pittsburg
Titusville & Buffalo was organized in 1876 as suc¬
12,497,000 12,497,000 cessor of Oil Creek
& Allegk. RR., which was a consolidation embracing the
Oil Creek and Warren & Franklin roads. Default was made Aug. 8,1878,
956,898 * 726,893 on the consolidated bonds. The new
company is to assume all liabilities of
888,808
888,783 the old. See V.
30, p. 193, as follows: “ By the articles of consolidation,
184,601
184,601 the
capital stock of the consolidated corporation is fixed at 127,500
262,500
262,500 shares
of common stock of a par value of $50 per-share, making
70,648
65,590
$6,375,000, and 15,000 shares of preferred stock of a par value of $50
each, making $750,000. The stockholders of the Buffalo Chatauqua
23,297,655 23,062,567 Lake
& Pittsburg Company are to receive 27,500 shares of the common
57,298
317,855
651,671
1,361,789
1517,928
92,312
291,868
follows: Little Miami, $1,100 stock, $8,000
bonds; Little Miami Elevated stock, $20,000; Dayton & Western bonds,
$34,855; C. C. & I. C. bonds, $275,000. ;
t Includes supplies March 31,1875, transferred.
+
This item explained in note to income account for 1876, above.
|| Additions to Cincinnati Street Connecting RR.
—(V. 28, p. 376; V. 29, p. 539; V. 30, p. 118, 29S, 381.)
Pittsburg Fort Wayne & Chicago.—Pittsburg, Pa., to Chicago, HI., 468
The company made default Oct. 1,1857, and again in 1859, and
foreclosed Oct. 24,1861, and reorganized under this title Feb. 26,
1862. On June 27,1869, the company leased all its road and property
to the Pennsylvania Railroad at a rental equivalent to interest, sink¬
ing fund of debt, and 7 per cent on $19,714,286 stock, which was
increased at that time from $11,500,000. The lease was transferred
subsequently to the Pennsylvania Company. The lessees are to keep
the road in repair and also pay taxes, expenses, &c. The Pittsburg Ft.
miles.
was
stock of the consolidated company and 2,500 shares of the preferred
stock. But there shall be paid to the consolidated company by the
stockholders of the company the aggregate sum of $175,000, $o0,000 of
which is to be expended upon improvements. It is also provided that
there shall be issued to the holders of the common stock of the Pittsburg
Titusville & Buffalo Railway Company, to represent property actually
received, 100,000 shares of the common stock of the consolidated com¬
pany, and as many shares of the preferred stock as there shall at the
time of the ratification of the agreement be outstanding of the preferred
stock of the Pittsburg Titusville & Buffalo Railroad Company.
The
bonds of the Buffalo Chatauqua Lake & Pittsburg Company, amounting
to $250,000, and all the bonds of the Pittsburg Titusville & Buffalo
Company, shall be assumed and paid by the consolidated company.”
After consolidation with the Buffalo & Southwestern, the preferred stock
became
and common, $7,500,000. (V. 28, p. 18, 277; V.
29, p. 253; V. 30, p. 17, 67, 193, 519, 625.)
$1,500,000
Pittsburg Virginia <G Charleston.—From Birmingham Pa., to Monongahela City, Pa., 30 miles. The stock is $676,613. Of the bonds, $500,000Wayne & Chicago leases the Newcastle & Beaver Valley and the Law¬ are owned by the Pennsylvania Railroad. Net earnings in 1876 were
rence roads, which in turn are leased again by the Pennsylvania Com¬
$40,346; in 1877, $34,640; in 1878, $52,298 ; in 1879, $27,084. (V. 28
pany. The total sinking funds held Jan. 1, 1880, were $2,016,015. The p. 113.)
special improvement stock is issued to Pennsylvania Railroad for im¬
Pomeroy <£• State Line.—Pomeroy, Pa., to Delaware State line, 21
provements, &c., under article 16 of lease, which reads as follows:
The former Penn. & Del. RR. was leased to the Pennsylvania
Article 16. The party of the first part hereby agrees that, for the miles.
Railroad, with net earnings as rental. On August 12,1879, the road
purpose of enabling the party of the second part to meet the obligations
of the party of the first part to the public, by making from time to time was sold in foreclosure for $100,000, and this company organized, as
of this part of the road, which connects with the Newark & Del
such improvements upon and additions to the said Pittsburg Fort Wayne owners
(See
& Chicago Railway, in the extension of facilities for increased business City RR., 17 miles. Strickland Kneass, President. Philadelphia.
Y. 29, p. 162; V. 30, p. 170.)
by additional tracks and depots, shops and equipments, and the substi¬
tution of stone or ir®n bridges for wooden bridges, or steel rails for iron
Port Jervis <£ Monticello.—From Port Jervis, N. Y., to Monticello, N. Y.,
rails, the party of the first part will issue, from time to time, a special 24 miles. Formerly the Monticello & Port Jervis Railroad, which was
stock, which shall bear such name as shall be hereafter agreed upon, or sold in foreclosure July 16,1875, and reorganized as the present Port
bonds, or other securities, which shall be issued in such form as may, Jervis & Monticello.
Gross earnings in 1878 $27,954; net earnings,
from time to time, be found to be most available Avith respect to economy
$3,103. The stock is $724,276, issued to the former holders of first
of interest and negotiability, and shall be consistent with the legal
mortgage bonds.
powers of the party of the first part and the rights secured by these
Port Royal <& Augusta.—Line of road, Port Royal, S. C.,
Augusta, Ga.,
presents, which special stock, or bonds, or other securities, shall be 112 miles. Formerly Port Royal Railroad. DefaultedtoNov.
1, 1873,
issued on the conditions following: The said party of the second part
shall guarantee the payment, semi-annually or quarterly, thereon of and receiver appointed May 9,1875. Sold in foreclosure June 6,1878,
such rate of interest as may be agreed upon between the parties hereto, and purchased for the bondholders, who organized this company. The
The new
to be paid by the said party of the second part to the holders thereof Georgia Railroad was endorser on $500,000 of the old bonds.
without deduction from the rent hereinbefore reserved; and the said stock is $750,000. (V. 30, p. 466.)
special stock, or bonds, or other securities, shall be issued only in respect
Portland & Ogdensburg.—Line of Portland Division, from Portland,
to improvements of and additions to the said railway which, and esti¬
Me., to Fabyans, 91 miles. It reaches the Vermont Division by using 14
mates and specifications of which, shall have been submitted to and miles of the Boston Concord & Montreal Railroad and a 3-mile link of its
approved by the said party of the first part in writing; and all such own. The Vermont Division is 119 miles, Lunenburg, Vt., to Swanton,
improvements or additions shall be made in such manner as shall be Vt. In March, 1875, the two divisions were nominally consolidated. In
approved by the said party of the first part. The party of the first part 1876 the company defaulted and a receiver was appointed. Litigation
shall not at any time, during the term aforesaid and the continuance of has siuce been
pending. In February, 1880, the Vermont division bond¬
this lease, make or issue any bond or obligation, in addition to the bonds holders
organized a new compafiy as the St. Johnsbury & Lake Cham¬
hereinbefore specified, except subject to this lease, without the consent
plain Railroad. Earnings of the Portland Division for five years past
in writing of the said party of the second part first had and obtained were as follows:
“
thereunto.”
The lease has been profitable to the lessees.
for five years past were as follows:
Years.
Operations and earnings
Years.
Miles.
80ifl
94
94
Gross Eara’gs.
$226,150
Net Eam’gs.
$104,047
91,06®
69,431
Passenger Freight (ton)
Net
Gross
Div’d
Miles.
94
270,783
88,574
Mileage.
Mileage.
Earnings.
Earnings, p. ct.
468
94
271,493
92,295
84,262,377 491,289,899 $7,863,664 $3,278,398
7
468 107,790,180 567,572,005
7,853,848
3,066,687
7 —(V. 28, p. 144, 200; V. 29, p. 253, 435, 632; V. 30, p. 142,170, 651.)
...
.
234,980
262,764
•
Subscribers will confer a great favor
explanation of column Leadings, Ac., see notes
on first page of tables.
PoHl. <£ Rochester—1st mort., s. f. (Port!, loan) “A”.
1st
2d
mortgage, equal lien
do
(Portland loan) sinking
Portland Saco d Portsmouth—Stock
Portsmouth d Dover—Stock
Portsmouth Gt. Falls d Conway—Stock
1st mortgage
fund, “B”.
Poughkeepsie Hartford d Boston— 1st and 2d mort.
Providence d■ Springfield—1st mortgage
Providence d Worcester—Stock
First mortgage bonds
New bonds
Raleigh d Gaston—1st mortgage
Reading d Columbia—1st mortgage, coupon
118877456--5690.
2d mortgage, coupon
Lancaster & Reading, 1st mortgage
Rensselaer d Saratoga—Stock
1st mortgage, consolidated (for $2,000,000)
Jlh incbeek d Conn—1st mortgage, gold
Richmond d Danville—Stock
State sinking fund loan
—
State
3d mortgage, consolidated, coupon or registered.
New general mort., gold (for $6,000,000)
Date
Miles
of
of
Road. Bonds
52 is 1867-9
52^ 1870
52
1871
51
11
71
71
1877
42
23
67
44
1870
1877
1873
97
40
1862
1864
40
15
1873
181
1871
79
35
199
Piedmont brand], 1st mortgage
Northwestern, N. C., 1st mort., guar.
Size,
or
Par
Value.
n,
n,
^
1867
1874
^
142
49
29
1,000
1,000
100 Ac.
1.000
100 Ac.
100
1,000
100
1,000
-
New
....
.
ioo
25
25
25
mortgage..
# 9 m
1870
1875
1,000
500
Rochester.—Portland, Me., to Rochester, N. H., 53 miles.
February, 1877. The bonds series A aud
Portland in exchange for city bonds, on
which the city pays interest. July 8, 1879, the interest of the city in
4his road was sold to the receiver. (V. 28, p. 41, 625; V. 29, p. 42.)
Portland d
Put in the hands of a receiver
B were issued to the city of
-
Bonds—Princi¬
Portland Saco d Portsmouth .--Portland, Me., to Portsmouth, N. H., 51
It was leased May 4, 1871, to the Eastern Railroad, Mass., at 10
per cent on stock. Lease rental changed May
per
until July 1, 1881, and after that 6 per cent. Payment of coupons pro¬
miles.
21, 1877, to 8
cent
vided for by lease rental. No other debt. (V. 28, p. 580.)
Portsmouth d Dover— Portsmouth, N. H., to Dover, N. H., 11 miles.
Opened February 1, 1874, and leased for 50 years to Eastern of New
Hampshire at 6 per cent per annum on the stock. Operated now bv
Eastern (Mass.) A suit as to rental was decided April, 1880. Frank
Jones, President, Dover, N. H. (V. 30, p. 338, 519.)
4*2
•
Stocks—Last
Dividend.
Whom.
July 1, 1887
Oct.
1, 1887
Sept. 1, 1891
Jan. 15, 1880
July 1, 1880
July 15, 1873
Dec. 1.
1937
....
7
3
6
6
8
7
7
350,000
July 1, 1892
July 1, 1880
July 1, 1880
....
J.
J.
4
4
7
=
Providence, Office.
A J.
A J.
.
nr
350,000
7,000,000
1,925,000
800,000
3,866,000
508,486
109,400
1,766,900
1874-965.
pal/When Due.
Payable, aud by
J. A J. Boston, Columbian B’k.
do
do
A. A O.
do
do
Various
J. A J.
Boston, Office.'
J. A J.
Portsmouth, Treas,
J. A J. Bost., Eastern RR. Co.
do
do
J. A D.
6
7
6
3
3
3
.
•
do
do
do
do
•
1897
Jan., 1898
J. A J. Phila.,Pa.,A Ral’gh.N.C.
M. A S. N. Y., Union Nat. Bank.
J. A D. Columbia, First Nat.B’k
Mch. 1, 1882
June, 1884
J. A J.
Phila., Co.’8 Office.
J. A J. N. Y., Nat. B’k Com’rce.
M A N. N.Y., Del. A H.Canal Co.
July 1, 1893
July 1, 1880
Nov., 1921
7
....
r
„
„
..••••
^
J A J.
J. A J.
M A N.
6
6
G
1,728,000
Is-
500,000
500,000
57,327
1873
^
Rate per When Where
Cent.
Payable
$700,000
350,000
450,000
1,500,000
757,800
770,000
1,000,000
535,000
500,000
2,000,000
500,000
676,000
820,000
650,000
100
Potomac—Bonds, ster
Coupon bonds of 1881
Outstanding
500 Ac.
500 &o.
100
100
100
500 &c.
Dollar loan
Richmond d Petersburg—Stock
1st mortgage, coupon
Amount
$500Ao.
10
Bonds, guaranteed by
Rich'd Fredericksburg d
discovered in tliese Tables*
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
by giving immediate notice of any error
450,000
1,008,600
150,000
50,000
2
8
7
do
N.
....
Y.,City Nat. Bank.
do.
do
1880
Jan. 1, 1875
1878 to ’90
1888
6*70
6 g6 A 7
8
177,516
Richmond, Office.
A. A O. New York or Richmond
London.
J. A J.
Various
Richmond, Office.
do
J. A J.
J. A J.
Richmond, Office.
do
do
A. A O.
do
do
M. A N.
ings, $1,162; rental, $7,833.
1885
1880-85
18Sl-’90
Jan. 6, 1880
1880 to ’86
May 1, 1915
Edward Martin, President, Red Hook,
Richmond d Danville— From Richmond to Danville, Va., 141 miles;
branches, 12 miles; Piedmont Railroad, leased, 49 miles; total, 201
miles.
The North Carolina Railroad and the Northwestern (N. C.)
are also leased, but operated separately.
In 1878 the Pennsylvania
R. R., which has an interest in this line, purchased a control of the Char.
Col. A Aug. R.R. The last annual report was published in the Chron¬
icle, V. 30,p. 142, and referred to the business of the road as follows:
The volume of traffic—both passenger and freight, and especially the
a very encouraging growth. The total gross tons of freight
transported are 354,521 tons, as against 282,730 tons for the previous
year; an increase of 71,791 tons, or 25'4 per cent. The mile tons for the
year are 47,144,636, as against 33,350,176 for the previous year; au
increase of 13,794.460, or 41-4 per cent. The total gross earnings from
“
latter*—shows
freight traffic are $1,145,373. against $956,634 for the previous 3rear;
an increase of $188,739, or 19*7 per ceut.
Of this increase, about 75-7
per cent in earnings is derived from through freights, and is due in part
to the improved facilities for handling this class of traffic which have
been effected, but also largely to the satisfactory connections with the
Charlotte Columbia A Augusta Railroad established in the fall of 1878,
bonds, and the stock is to receive the same dividends as the stock of the as
reported to .your last meeting, by which an addition to the freight
lessees. The total stock is $1,150,300, and the lessees own $486,000 of
traffic alone of $93,722 was received. The local and connection freights
the bonds and $551,300 of the stock. (V. 27, p. 15, 97, 115, 228.)
of the Richmond & Danville Railroad have also yielded increased
Poughkeepsie Hartford d Boston.—From Poughkeepsie, N. Y., to New’ revenues of $62,995; and passenger trains on all lines have produced
York State Line, 43 miles. The Poughkeepsie & Eastern Railroad was increased earnings over last year of $35,728, as shown above.” c
The income account was as follows;
opened in 1872, and was sold in foreclosure May 15, 1875, and the
Portsmouth Great Falls d Conway.—Conway Junction, Me., to North
Conway, N. H., 71 miles. The Eastern Railroad in Massachusetts has
made a lease of the road for 60 years from October 1, 1878, with a guar¬
anteed rental of $15,000 a year, which pays 4^ per cent on $1,000,000
present company organized. It connects with the Connecticut Western
Railroad.
The stock is $850,000.
In 1878-9, gross earnings were
$51,844 and expenses $31,511. G. P. Pelton, President, Poughkeepsie,
N. Y.
Springfield-.—Providence, R. I., to Pascoag, 23 miles. It
is proposed to extend the road to Springfield, Mass.
The stock is $517,150.
In 1878-9, gross earnings were' $79,988 ; net earnings, $39,302.
Providence d
William Tinkliam, President, Providence, R.
I.
Providence d Worcester.—From Providence, R. I., to Worcester, Mass.,
43 miles; branches, 8 miles; leased Milford & Woonsocket Railroad and
Hopkinton Railroad, 15 miles; total operated, 66 miles. Operations and
earnings for five years past were as follows:
Div.
Net
Gross
Freight (ton)
Passenger
Earnings. Earnings. p. c.
Miles.
Mileage.
Years.
Mileage.
10
66
14,283,114 $890,660 $237,439
14,976,537
1874-5.
8
226,032
894,155
66
17,192,890
1875-6.
13,516,407
4
904,635
245,299
18,862,705
66
13,592,849
1876-7.
4
285,731
865,792
17,916,241
66
13,973,108
1877-8.
5
350,345
919,852
19,286,814
13,753,392
1878-9. ...66
'
...
'
...
...
'
...
Raleigh d Gaston..—From Raleigh to Weldon, N. C.. 97
$1,500,000. Dividend of 3 per cent paid October, 1879.
five years
past were as follows:
Miles.
97
97
97
97
Years.
miles. Stock,
Earnings for
Gross
Net
Earnings.
$261,142242,245
Earnings.
$96,110
88,701
85,750
107,185
234,511
242,478
(14months)..:
97
295,051
115,343
—(V. 27, p. 94.)
Reading d Co himbia.—From Columbia to Sinking Springs, Pa., 40
miles; branches, 12 miles; Lancaster & Reading Railroad, leased, 15
miles; total operated, 67 miles. Stock, $958,268. The road is controlled
and operated by Philadelphia A Reading, but accounts kept separate.
Gross earnings in 1879, $274,844; net earnings, $100,14G; payments for
Interest and
rental, $94,930.
Rensselaer d Saratoga—Main line, Troy to Whitehall, N. Y., 73 miles J
branches, Albany to Waterford, 12 miles; to Green Island, 1 mile; to
Glens Falls, 6 miles; to Castletown, Yt., 14 miles; to Rutland, Yt., 62
miles; Ralston to
Schenectady, 15 miles; total line and branches, 183
miles. It was a consolidation of several lines, and the Delaware A Hud¬
son Canal Company leased the whole March 1, 1871 . at a rental of 8 per
cent on the stock and 7 per cent on the bonds. The earnings given
below include the New York & Canada Rail road'(150 miles). Opera¬
tions and earnings for four years past were as follows:
Net
Div.
Passenger
Freight (ton)
Gross
Years.
Miles.
332
332
332
Mileage.
20,965,596
Mileage.
30,68)8,401
18,761,702
19,292,731
30,718,974
32,283,281
-1878-9
Earnings.
$1,981,234
Earnings. PC-
$691,786
8
.8
1,823.360
660,195
754,346
1,911,465
804,288
1.826,942
,
8
8
-(V. 29, p. 5SI.)
Rhinebcck d Connecticut.—Rliinecliff, N. Y., to Boston Corner, N. Y.,
35 miles. Opened April 4,1875. Leases 6 miles to Connecticut State
line. Stock, $614,009. Gross earnings in 1877-8, $55/051; net eajn-
Net earnings Richmond A Danville Railroad
Received from interest on investments
Deduct
Deduct
Deduct
Deduct
$499,994
40,526 -
$540,520
$246,444
interest on funded debt
interest on floating debt
rental Piedmont Railroad
loss on lease Nortli Carolina Railroad
10,604
60,000
35,906
352,955
Net income
$187,565
-.
PROFIT AND LOSS.
Sept. 30, 1878
Sundry accounts charged during jmst year
$312,227
Balance to debit of this account,
10,451
$322,678
Following amounts credited during past year, viz:
Net income for the year 1879
$187,565
Premium ou Greenville and Spartanburg county
bonds sold
19,868
Sundry accounts
22,108
-
229,541
$93,136
Balance...
and Piedmont
Years.
RailroadsVere
Miles.
'
as
follows:
Passenger
Mileage.
7,336,680
7,358,335
5,945,446
5,895,111
7,057,080
201
201
Freight (ton)
Mileage.
16,372,844
17,435,445
21,183,343
23,514,209
33,120,675
Gross
Net
Earnings. Earnings.
$923,058 $323,448
937,198
438,232
909,317
292,591
942,386
310,948
1,098.597
499,994
—(V. 30, p, 142,651.)
Richmond
Fredericksburg d Potomac—From Richmond, Va., to
Quantieo, 80 miles. The common stock is $1,030,100 and guaranteed
stock is $500,400. An abstract of the report of 1878-79 was given in V.
29, p. 656. Gross earnings, $317,032; net earnings, $155,056. (V. 29,
1>.
656.)
Richmond & Petersburg.—From Richmond to Petersburg, Va., 22*2
miles; branch, 2 miles; total, 24L> miles. The road lias earned moderate
dividends and the debt account is very small. Operations and earnings
for five years past were as follows:
Years.
1874-5.
1875-6.
1876-7.
1877-8.
1878-9. -V
—Annual
Miles.
25
25
25
25.
25
Passenger
Mileage.
Freight (ton)
Mileage.
2,344,675
2,238,173
2,124,063
2,097,594
1,576,263
1.594,670
2,017,438
2,016,684
2,176,390
report, Y. 30, p. 27£.
1,475,359
Gross
-
Net
Div.
Earnings. Earn’gs. p.c.
-$164,935 $78,251
..
137,407
60,096
137,116
140,009
154,622
.47,271
62,553
73,071
--
4
4
June, 1880.]
favor by giving immediate notice of any error discovered in tbese Tables.
Subscribers will confer a great
DESCRIPTION.
For
Date
Miles
of
of
explanation of column headings, &c., see notes
Road. Bonds
on first page of tables.
18
108
Rochester d Genesee Valley—Stock
Rochester d State Line.—1st
mortgage...
Rock Island d Peoria—Stock
1st mortgage
Rome Watertown d Ogdensburg—Stock..
1st sinking fund mort., Wat. & R
General mortgage, sinking fund
2d mortgage
Consol, mort., convert, till July, ’79, coup
Syracuse Northern (gold)
1874-659.
Rutland—General mortgage (8 per cent, now 6]...
New 2d mort. in exchange for equipment bonds.
Sacramento d Placerville
1st morto-n,«-e fS.
91
409
97
190
190
360
45
120
120
-1st mortgage (S. V. RR.).
49
P. RRA
Saginaw Vattcy 'd St. Louis.—1st ruortg.,
coup
34*2
•
76
112
112
115
115
209
St. .iosenh d St. Louis—Stock
St. Joseph d Western— 1st M. St. Joseph
2d mortgage, income
Kansas <& Nebraska, 1st mortgage
do
2d mort., income
& Pacific.
.
St. Louis Alton d Terre Haute—Stock
Pref. st’ek (7 cumulative), 51 p.c. due to Jan. 1
1st mortgage (series A) sinking fund.. 1 ♦3
1st mortgage (series B)
2d mortgage, preferred
2d mortgage, preferred
2d mortgage, income
,’80
....
•
(series C)
•
•
•
....
(series D)
....
....
§
Equipment mortgage
St. L. Hannibal d Keok.—lsX, M
.
£§
....
convertible till ’87
Southern—Stock..
1st mortgage, coupon
2d mortgage, gold, coupon, may be registered...
Arkansas Branch, 1st mortgage, gold, land gran t
.
1878
...A
1878
....
1855
1861
1872
1874
1871
1872
1878
1855
1877
1872
1876
1876
1876
1876
50
685
210
310
99
or
Par
Amount
Outstanding
Value.
2,160,000
1,500,000
150,000
5,293,900
25,000
100
100 &c.
500 &c.
424,200
1,021,500
1,000,000
4,260,000
500,000
1,500,000
1,105,200
400,000
700,000
446,000
1,000,000
1,900,000
1,200,000
1,900,000
1,200,000
2,300,000
2,468,400
1,100,000
1,100,000
1,400,000
1,400,000
1,700,000
1,000
1,000
1,000
100 &c.
100 &c.
....
1,000
100 &c.
....
100 &c.
....
100
100
1864
186 t
1870
1877
1867
1872
1870
Rate per
Cent.
3
7
$555,200
$100
1,000
....
1864
1864
1864
Boficls— .Princi¬
INTEREST OR DIVIDENDS.
Size,
....
....
<
25 a
sinking fund..
St. Louis Iran. Mountain, d
49
RAILROAD STO.CKS AND BONDS.
,
1,000
500 &c.
1,000
1,000
500 &c.
300,000
1,000
140,000
100 &e.
100
10
3
7
7
7
7
7
6
5
10
6
8
1,000
Stocks—Last
Dividend.
v
J.
J.
& J. N.Y., by N.Y.L.E.&W.Co
New York.
& J.
J.
J.
M.
J.
J.
A.
J.
M.
F.
& J. N. Y.j Corn Exch. Bank.
& S.
do
&
&
&
&
&
&
do
do
do
do
D.
J.
O.
J.
N.
A.
1, 1880
July 1, 1902
1880
Jan. 1, 1900
July 15, 1875
Sept. 1, 1880
Dec. 1, 1891
Jan. 1, 1892
July 1, 1904
July, 1901
Nov. 1, 1902
Y., Farm. I.. & T. Co.
J. N.
&
Jan.
do
do
do
do
do
Boston, Treasurer.
do
do
1875
1900
....
Mar
M. & N. New York, 9th Nat. Bk.
7
7
7
7
J.
J.
J.
J.
&
&
<fc
A
7
7 g.
7 g.
J.
A.
F.
M.
M.
M.
A.
&
&
&
&
&
&
&
.Tan.
New York.
do
do
do
J.
J.
J.
J.
N.
2
7
7
7
7
7
10
7
1902
1,
April, 1879
2ie
21,291,296
4,000,000
6,000,000
2,500,000
1,000
1,000
pal,When Due,
Where Payable, and by
Whom.
Payable
When
Jau.
Jan.
Jan.
Y., Office 50 Wall st.
J.
0.
A.
N.
do
do
do
do
do
do
do
do
do
do
do
1894
1894
1894
1894
1894
1880
Oct. 1, 1917
Aug. 1, 1892
20Nassau st
or
1, 1915
1, 1915
Feb. 1,1878
do
N.
do
do
S.
0. N.Y., Amerm’n& Burw’l.
F. & A. N.Y.,Office
M. & N. New York
J. & D. New York,
1, 1915
1, 1915
May 1,
London.
Co.’s Office.
1897
June 1, 1895
1
Rochester d Genessee
Leased July 1,1871, in
Valley.—Avon to Rochester, N. Y., 18'miles.
perpetuity, to Erie Railway, and now operated
by New York Lake Erie & Western. Rental, $34,012. James Brockett,
St. Louis Alton d Terre Haute—Main line from Terre Haute, Ind., to
East St. Louis, 189 miles; branches, 19 miles; leased line—Belleville &
Southern Illinois Railroad, 56 miles; total operated, 264 miles.
This
President, Rochester, N. Y.
company was a reorganization, Feb.
& St. Louis Railroad. The Belleville
Rochester d State Line—Rochester, N.Y, to Salamanca, N. Y., 108 miles.
The road was opened May 15,1878, and was closely allied to the N. Y.
Central in management, and an order was granted, February, 1880,
company for 999 years from Oct. 1, 1866. The main line (St. L. Alton
& Terre Haute) was leased June 1,1867, for 99 years to the Indianapolis
& St. Louis Railroad at a rental of 30 per cent of the gross earnings up
to $2,000,000, 25 per cent on the next $1,000,000, and 20 per cent on
all over $3,000,000; but it was agreed that in no year should the rental
be less than $450,000. The lease was guaranteed by three other com¬
appointing Svlvanus J. Macy, of Rochester, receiver of the company.
application was made by the Union Trust Co. of New York City, rt
is claimed that the bankruptcy of the road was brought about by
certain members of the Rochester Common Council, who sought, in a
suit against the principal stockholders, to recover the original first
mortgage bonds for $600,000, an investment of the city in an equal
amount of the railroad stock. It is believed that an early day will be
appointed for the sale of the road, and that it will pass into the
hands of the Vanderbilt management.
The road had been largely
assisted by the City of Rochester. (V. 30, p. 170, 223, 589.)
Rock Island d Peoria—Rock Island, Ill., to Peoria, Ill., 91 miles. This
is the Peoria & Rock Island, sold in foreclosure of the first mortgage
April 4,1877, the bondholders becoming the purchasers. Capital stock,
$1,500,000. Gross earnings, 1879, $387,580; net earnings, $89,833, out
of .which a 5 per cent dividend was paid on the stock. (V. 28, p. 351.)
Rome Watertown d Ogdensburg.—Rome to Ogdcnsburg, 141 miles;
branches, 49 miles; Oswego to Lewiston, 146 miles; Sandy Creek to
Syracuse, 44 miles; leased Oswego & Rome Railroad, 29 miles; total
owned, leased and operated, 409 miles. It was a consolidation October,
1861, of the Watertown & Rome and the Pottsdam & Watertown rail¬
The
roads. The Lake Ontario Shore Railroad was foreclosed September 22,
1874, and transferred to this company January 15, 1875. The Syracuse
Northern was foreclosed, and purchased by this company August 1,
1878. The Oswego & Rome was leased January 1,1866, at 8 per cent
on stock and interest on bonds.
The Rome Watertown & Ogdensburg
has been in default on coupons of the consolidated bonds since
1878.r No reorganization or foreclosure has taken place.
and earnings for five years past were as follows:
Gross
Freight (ton)
Passenger
Years.
April 1,
Operations
Miles.
269
335
408
408
408
Mileage.
14,205,798
15,588,607
17,549,628
15,199,509
Mileage.
21,165,541
20,366,365
26,732,738
24,967,418
25,914,496
Net
Earnings. Earnings
$1,149,907
$259,283
1,221,727
1,248,842
1,203,786
336,708
277,574
350,747
308,648
1,143,288
20,517.456
(V. 26, p. 334; V. 28, p. 276; V. 29, p. 68, 581.)
Rutland.—From Bellow’s Falls, Vt., to Burlington, Vt., 120 miles. This
road has been through many changes. It was leased to the Central Ver¬
mont in December, 1870, for 20 years, but the lessee became insolvent,
and finally a modification of the lease was made, giving $250,000 per
year as a minimum rental and $8,000 for organization expenses. The
bondholders agreed to accept 5 per cent bonds in exchange for equip¬
ments and 6 per cent bonds in lieu of 8 per cents. (See last annual report,
V. 29, p. 145.)
The common stock is $2,480,600 and preferred
$4,000,000. (V 30, p. 118.)
Sacramento d Placerville.— Sacramento, Cal., to Shingle Springs, Cal.,
49bj miles. This was a consolidation of the Sacramento Valley and the
Folsom & Placerville railroads, April 19,1877. Capital stock, $1,756,000. Gross earnings, 1878, $157,750; net earnings, $56,688.
Saginaw Valley d St. Louis.—From Saginaw to St. Louis Mich., 35
miles.
Road opened January. 1873. Has a traffic guarantee from
Michigan Central. Capital stock, $264,804. In 1878, gross earnings
were $34,952; net $51,967.
Interest payments, &c., $53,728. In July,
1879, management was transferred to the Detroit Lansing & Northern.
-(V. 27, p. 304; V. 29, p. 96.)
St. Joseph d St. Louis—St. Joseph, Mo., to Lexington, Mo., 76 miles.
Present company is successor to the St. Louis & St. Joseph Railroad, sold
in foreclosure February 8, 1874. The St. Louis Kansas City & Northern
took a lease of the road for 99 years July 1,1874. The terms of the
lease are an annual payment of $35,000 for five years and then 30 per
cent of gross earnings, but $25,000 guaranteed.
18, 1861, of the Terre Haute Alton
& Southern Illinois is leased to this
panies (See V. 26, p. 614 and 654). The lease was unprofitable and the
solvent guarantors refused to pay more than their one-third of the de¬
ficiency, and a suit was begun, which is still pending. In 1879-80 tire
company recovered from the former purchasing committee, Messrs.
Tilden, Butler, Sage and Bayard, $400,000 for bonds retained by them at
the time of reorganization. The Belleville Branch and Extension are
operated separately by this company, and earned net in 1879, $159,359.
—(V. 27, p. 17, 140, 437, 454, 488, 603, 678 ; V. 28, p. 476; V. 29, p.
436, 658 ; V. 30, p. 170, 407.)
St. Louis Hannibal d Keokuk.—From Hannibal, Mo., to Keokuk. This
is a new road under construction. The bonds were offered in New York,
March, 1880, at $12,000 per mile. (V. 29, p. 539, 608.)
St. Louis Iron Mountain d Southern.—Line of road, St. Louis, Mo., to
Texarkana, Texas Line, 490 miles; branch lines, Mineral Point, Mo., to
Potosi, Mo., 4 miles; Bismarck, Mo., to Belmont, Mo., 120 miles; Poplar
Bluff, Mo., to Bird’s Point, Mo. (Cairo), 71 miles; total, 685 miles. This
was a consolidation (May 6, 1874) of the St. Louis <fc Iron Mountain, the
Arkansas Branch, the Cairo & Fulton and the Cairo Arkansas & Texas
railroads. In 1875 the company defaulted, but promised to resume the
payment of interest if bondholders would fund certain coupons, which
they did. The officers of the company afterwards broke faith with the
bondholders, refused to pay the coupons, applied the earnings of the
road (which were large) to the payment of floating debt instead of in
terest, and resorted to litigation to defeat the bondholders. Finally, a
new compromise agreement was made November 27,1878, as reported
in the Chronicle (V. 29, p. 43). By this the subscribing bondholders
agreed to deposit with the Union Trust Company the funded interest
certificates and unpaid coupons belonging to their mortgage bonds, and
to receive in exchange therefor first preferred income bonds, bearing 7
per cent interest, payable annually on March 1 out of the net surplus
income of the preceding calendar year (interest accumulative).
The
interest certificates and coupons for which they are issued are not to
be canceled, but held as security for the execution of the agreement
as specially provided.
The subscribing bondholders who hold consoli¬
with the Union Trust Co.,
dated mortgage bonds agree to deposit them
and to recieve in exchange therefor second preferred
bearing 6 per cent interest, payable annually out
come
remaining after the
income bonds,
of the net surplus in¬
payment of all interest due on the first pre¬
ferred income bonds, and accumulative.
The consolidated mortgage
bonds are not to be canceled, but kept as security for the execution of
tlie agreement as specially provided.
The
agree to transfer their stock to the trustees, who
right to vote upon the same
to March 1, 1880, when the
subscribing stockholders
shall have the absolute
until one year after the period subsequent
company shall have paid the full interest
and second preferred income bonds,
provided also that the company shall pay punctually the full amount
due and accumulated on said first
of interest accrued during that year on such bonds.” In March, 1880.
the managers put an end to the stock .trust by
the bondholders^ promising to pay interest on
incomes, but interest on the seconds was not paid. The annual report
for 1879 was published in V. 30, p. 320. Comparative
tour
years are as follows:
obtaining the consent of
both first and second
statistics for
EARNINGS.
1877.
1878.
$
4,500,422
$
1876.
$
Total gross
earn’gs
..
4,002,045
4,514,321
INCOME ACCOUNT.
Receipts—
Net earnings
$
1,483,646
$
2,131,902
$
1,740,207
$
1,945,956
1879
$
5,292,611
$
2,300,555
$
$
$
Disbursements—
Joseph d Western.—Line of road: East Division—West St. Joseph,
2,222,194
1,814,600
1,762,095
Kan., to Marysville, Kan, 112 miles; West Division—Marysville, Kan., Interest on bonds....
40,438
167,027
390,199
260,263
to Hastings, Neb., 115 miles; total, 227 miles. This is a reorganization Other interest
667,800
8,100
of the former St. Joseph & Denver City road, which went into .the hands Disc’t on con. m. bds.
*379,257'
84,660
32,825
33,684
of a receiver in 1874 and was sold in foreclosure in November, 1875. Miscellaneous
On the foreclosure of the two divisions two companies were organized,
341,334.
120,331
416,950
580,496
the St. Joseph & Pacific and the Kansas & Nebraska, with bonds as
Balance, deficit..
above. These were consolidated as St. Joseph & West., with $3,300,000
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
stocR, par $100. The present bonds have no lien on lands, as the land
-$.
$
$
$
Assets—
grant ot 300,000 acres was put in hands of trustees for the benefit of the
45,237,715 45,694,907“
44,960,735
44,755,806
Road
and
equipm’t
..
holders of the old land scrip of $2,250,000. On the first mort. K. & N. bds
598,313
656,977
753,581
786,228
the first coupon isdue July.i 831. The road is leased to Kansas Pacific, Real estate
3,556,472:
3,648,008
3,742,908
3,839,579
and thus to the Union Pacific, and is to be extended (as reported) to a Lands
junction with the Kansas Pacific at Agate, 66 miles east of Denver.
Includes taxes on Ark. trust lands for 1874-5-6-7-8, $105,139;
In 1878 the gross earnings were $641,391; operating expenses, &c.,
ment by Rogers’ Loeomo’e Works, $50,400; change of gauge, $195,169.
$580,209'. (Y. 28, p. 351, 625; V. 29, p. 331, 670; Y. 30, p. 93,170.)
'
St.
-
*
Subscribers will confer
a
explanation of column headings, &c., see notes
on first page of tables.
St. Louis Iron Mountain <& Southern—(Continued)—
Cairo Ark. & Texas, 1st mort., gold, coup or reg.
Cairo & Fulton, 1st n ort., gold, on road and land
1st pref. income bonds, reg;, (cumulative)
2d pref. income bonds, reg., (cumulative)
St. Louis Keokuk d N. TV—Stock($l,350,000 is pref.)
1st mortgage
Income bonds
St, L.dt S.Ft'an cisco.—1st M. (So. Pac.), g., (I'd grant)
2d mortgage bonds, A
do
do
B, gold
do
do
71
304
135
135
293
84
& Western, gold
Joplin RR. bonds
St. Louis d Southeastern—1st M., gold, conv. s. rund
Consolidated mortgage, gold, sinking fund....
SX. Louis Yandalia d Terre Haute—1st M. s. f. gi
2d mort., sink, fund ($1,600,000 guar.)
St. Paul d Duluth— Preferred 7 per cent stock..
Common stock
St. Paul Minneapolis d Manitoba—Stock
1st mortgage, St. Paul to St. A
and 1st, St. Paul to Watab
Land grant sinking fund 1st mort., gold
2d mort., gold
St. Paul d Sioux City—Pref. stock
2d M.,
do
)
on new
lines 5
f
*7 000 000
Omaha & No.Nebraska, stock
1877.
$
$1,000
1,000
1876
1876
1868
1876
1876
1876
1880
1874
1879
1,000
1,000
$
Bills Sc acc’ts receiv’le
500
100
500
500
158
158
169
169
1,6*0*0
1,000
1,000
1,000
100 &c.
1,000
—
....
1879
1879
1,000
1,000
1878.
1879.
$
$
506,629
52,335,184
53,219,959
21,510,253
24,797,000
Qertfs. & unfund, cou 2,263,565
Bills payable, &c.—
1,375,576
$
21,471,151
25,909,000
2,440,125
430>415
21,469,101
25,909,000
$
21,458,961
30,068,657
114,300*
Equipm’t renewal fd.
53,360
Total liabilities...
50,114,055
539,029
2,438,165
1,979,889
777,456
242,312
386,892
1,577,753
*656,677
489,019
108,210
11,095,111
52,335,184
53,219,959
*
This includes $569,846 of Arkansas land trust notes.
t This includes sundry coupons overdue, $26,390; coupons on Divi¬
sional mortgage bonds to June, 1880, inclusive, $489,368, and on
bonds, $579,174.
—(V. 28, p. 43, 173, 302, 325
820, 358, 434, 625.)
1874-569.
.
Jan.
Jan.
.
_
3 &c. g. M. & N.
7 g.= J. & D.
10
6 g.
& A.
income
7 g.
7 g.
7
7
M.
F.
J.
M.
....
Aug. 1, 1919
Y., G. Opdyke & Co.
N*v.,‘1894
Y., Third Nat. Bank.
Jau. 1. 1897
do
do
do
Aug.. 1902
do
May 1, 1898
....
120,000
366,000
7,459,800
8,000,000
8
7
7 g.
5,887,500
5,887,500
1*2
4,600,000
6 g.
6
6 g.
950,000;
& N. N.
& A.
& J. N.
& N.
M.
J.
J.
A.
&
&
&
&
S. N.Y.,J.S. Kennedy& Co.
1881
J.
do
do
1892
1909
J. New York and London.
do
do
Oct. 1, 1909
O.
New York.
Feb. 18, 1880
Q—F.
A. & O. N.
A. & O.
Y., Metropol. N. Bk.
do
do
April'1,'
1919
April 1, 1919
The Tennessee Division was
April 9,1879, and purchased in the interest of the Louisville & Nash¬
ville, and the Kentucky Division sold July 19,1879, to the same com¬
pany. The St. Louis Division went to the Nashville Chattanooga & St.
Louis, and was leasedjat $300,000 per year, and the Louisville & Nash¬
ville as assignee now pays that rental, and will issue $3,500,000 6 per
cent 1st mortg. bonds and $3,000,000 3 per cent 2d mortg. bonds to
represent the old securities. (V. 28, p.18,353,378; Y. 29, p. 42, 96,
303, 631, 632; V. 30, p. 43, 299.)
St. Louis Yandalia & Terre Haute.—From. East St. Louis to Indiana
State line, 158 miles. Road opened July 1, 1870. It is leased to the
Terre Haute & Indianapolis Railroad at a rental of 80 per cent of gross
earnings. For the year ending October 31,1879, the income account
was as follows:
Gross
earnings,
as
reported by the lessee
Thirty per cent of which, being rental,
on
$1,244,643
V. 29, p. 18; V. 30, p. 193, 249, 298,
373,393
was.
city of Greenville bonds
Total income
185
$373,578
.
The year’s charges against this sum were:
Interest on first mortgage bonds
Interest on second mortgage bonds
Taxes..
$132,930
182,000
33,422
2,974—
General expenses..
;
Nov. 1. 1906
June 1, 1895
Jan. 1. 1884
do
do
do
do
do
do
do
do
Q-J.
F.
_
....
Add interest received
51,028,147
.
1873 and receiver appointed Nov. 1,1874.
51,028,147
Funded interest
Interest accrued, &o.
....
sold
50,114,055
Total assets
Liabilities—
Stock
Funded debt
.
....
105,000
1,116,081
5,000
Miscellaneous items.
241,382
208,458
June 1, 1897
Jan. 1, 1891
Int. May, 1880
lf, 1906
1, 1906
6 g. J. & J. N. Y., Company’s Office •July, 1888
6 g. M. & N.
do
Nov. 1, 1906
do
3 &c. g. M. & N.
do
do
Nov. 1, 1906
4,798,862
4,055,407
15,000,000
100
1.000
Stocks—Last
Dividend.
....
....
200,000
3,250,000
5,145,000
1,899,000
2,600,000
500 &c.
N. Y., Co.'s Office.
do
do
do
do
do
do
Sc D.
& J.
March.
March.
....
1,100,000
....
1862
1862
1879
1879
7,948,000
4,054,937
4,088,720
2,700,000
1,620,000
1,080,000
7,144,500
419,305
2,716,932
2,348,000
1,000.000
300,000
1,00*0
35,798
416,951
15,000
Income account.
264,694
*
&c.
1,000
....
76
&c.
&c.
&c.
320,564
198,310
432,365
1,236,415
604,826
Materials, fuel, &c...
Cash on hand
discovered in theee Tables*
J.
J.
7 g.
7 g.
7
6
$1,450,000
1,000
’69-71
1872
1867
1868
210
420
656
656
594
594
594
95
63
Ior * '»<ooo,uoo
1876.
1872
1870
1879
1879
135
C, gold
Common stock
New mortgage, gold,
[Vol. XXX.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
Rate per When Where Payable, and by
Par
of
of
Whom.
Cent.
Road. Bonds Value. Outstanding
Payable
Equipment mortgage, gold
Band debentures
New mortgage, Mo.
BONDS.
AND
great favor by giving immediate notice of any error
DESCRIPTION.
For
STOCKS
RAILROAD
50
351,327
Leaving a surplus for the fiscal year of
St. Louis Keokuk & Northwestern.—Keokuk, la., to St. Peters, 135
miles. The Mississippi Valley & Western Railroad was sold April 14,
1875, and this company organized July 1, 1875, the date of the opening
Road completed in Autumn of 1879. Income bonds above
were originally a part of $2,750,000 first
mortgage bonds, but by agree¬
ment they were changed into their present form. Gross earnings for ten
months ending Dec. 31,1878, were $170,356 and net earnings $28,014.
of the road.
St. Louis & San Francisco.—Line of road, Pacific, Mo., to Vinita, I. T.,
327 miles, and branch from Peirce City, on main line, to Wichita, Kan.,
227 miles; total, 554 miles. This company was organized September 20,
1876, as successor to the Atlantic & Pacific Railroad. The latter was
chartered by act of Congress July 27. 1866, and embraced the South
Pacific Railroad (originally the Southwest Branch of the Pacific Railroad
of Missouri), which was consolidated with the Atlantic & Pacific road
October 25, 1870.
The South Pacific Railroad had a grant of lands
by act of Congress June 10, 1852, of 1,161,205 acres. The Atlantic &
Pacific received about 500,000 acres of land.
The South Pacific lands
showed 617,909 acres on hand January 1,1879. Atlantic & Pacific lands
showed. 294,286 acres on hand at same date, and for these lands (A. & P.)
the second mortgage bonds, class B, are receivable in payment.
The
stock authorized (and mostly issued)
is $4,500,000 of first preferred,
$10,000,000 of preferred and $10,500,000 of
common.
The interest
on
bonds “B" and“C” is 3 per cent for 1879-’80-’81, 4 for 1882,5 for
1883 and 6 afterward. An abstract of the last annual report was pub¬
lished in V. 29, p. 145. The gross earnings in 1878 were
$1,201,651; net,
$603,517, against $739,136 in 1877. Gross earnings in 1879 were
$22,251
—which was
this company
applied to the repayment of advances heretofore made to
by the lessee, leaving the balance to debit of profit and
loss, October 31,1879, $320,734. The annual report for 1878-79 was
published in the Chronicle, V. 30, p. 116. The first mortgage and
$1,000,000 of second mortgage bonds are guaranteed by the lessees and
also by the Pitts. Cin. & St. Louis Railroad and the Col. Chic. & I. C. Co.
The stock is $2,383,315 common and $1,544,700 preferred. The pre¬
ferred was issued for income bonds ($1,000,000) and for deficiencies
made up by the lessees.
Thos. D. Messier, President, Pittsburg, Pa.
Operations and earnings for five years past were as follows: '
Years.
Miles.
158
158
158
158
158
Passenger
Mileage.
15,891,779
16,180,710
14,827,425
13,092,370
Freight (ton)
Mileage.
40,063,114
45,972,258
1,062,075
Net
Earnings.
$176,444
247,393
50,618,136
1,052,208
207,067
58,722,821
1,059,443
1,244,643
158,685
294,272
Gross
Earnings.
$996,803
1
-(V. 28, p. 19;,V. 30,p. 116.)
St. Paul & Duluth,—Line of road, St. Paul, Minn., to Duluth, Minn., 156
miles; Stillwater & St. Paul Railroad (leased), 13 miles; total, 169 miles.
This was the Lake Superior Sc Mississippi Railroad, opened August 1,
1870, and leased to the Northern Pacific. Default made January 1,1875,
and road sold in foreclosure May 1,1877, and reorganized June 27th.
The preferred stock is received in payment for lands at par. Three
shares of common stock have one vote, and each share of preferred has
one vote.
The company has a land grant, of which about 1,276,000
acres remain unsold.
In 1879 gross earnings for seven months ending
Dec. 31 were $408,512; net earnings, $132,720.
(V. 29, p. 68, 118,
436; V. 30, p. 58, 264, 545.)
$1,653,843. On January 31, 1880, an agreement wTas made with the
Atchison Topeka & Santa Fe* for construction of a through line to
the Pacific coast on the parallel from Albuquerque, on the Rio Grande,
to San Francisco.
The road is to cost $25,000,000, and to be known
as the Atlantic Sc Pacific
Railway. Three trustees—John A. Stewart,
of the U. 8. Trust Company, Warren Sawyer and H. P. Kidder, of Boston
St. Paul Minneapolis & Manitoba.—This company was organized out
—are appointed to hold the stock in trust.
The voting power is to be of the St. Paul Sc Pacific RR., the First Division of the St. P. & Pacific RR.,
vested in six directors of each road. The old companies are to preserve the Red River Val. RR., and the Red River Sc Manitoba RR.—565 miles
their separate organizations, and the gains of traffic on the extension are of road, from St. Paul and
Minneapolis to Manitoba boundary line, and a
to be divided in equal proportions. The two companies divide the issue of line from Alexandria to
90 miles, and from Fisher’s Landing
Winnepeg,
bonds ($25,000,000). The cost of the first division will be about $12,500,- to Grand Forks, 12
miles, making 667 miles in all. The company takes
000. Stockholders in the Atch. Sc Santa Fe and St. L. Sc S. F. companies 2,000,000, acres of land as successor to the roads above named, which
will have the right to subscribe for a 6 per cent bond at
par, receiving were foreclosed. The small amount of the two mortgages first above
therewith a $750 6 per cent income bond. The Atlantic Sc Pacific Com¬ named, about
$486,000, is all that remains of the old bonds, and the new
pany will reserve the right to take from subscribers, before 40 per cent land-grant mortgage is practically a first lien on the whole property at
of the subscription has been paid, the first mortgage bond, paying
back $12,000 per mile. The proceeds of land sales are reserved by the first
the subscriptions advanced with interest, but leaving with subscribers
mortgage trustees as a sinking fund for the redemption of the bonds at
an income bond for $500
costing nothing. Each company agrees to fur¬ or under 105 and interest., ana up to April 1,1880, $540,200 of debt was
nish one-half of this amount, and in addition to its share of bonds
paid off. The second mortgage "bonds do not cover the land. The comreceives also a bonus in stock. The annual report for 1879 was pub¬
lished in V. 30, p. 355, showing gross earnings of $1,519,162, against
aciflc Railroad. Gross earnings ten months to April, 1880, $2,365,$1,201,651 in 1878; and net earnings $650,382 in 1879, against $575,507 287 ;*net, $1,286,313. (See Chronicle, V. 29, p. 226, 513; V. 28, p*
in 1878. The interest charge was $613,064. (V. 28, p. 253,
454, 495, 200, 454, 490, 555, 580, 616; V. 29, p. 147, 226, 331, 460, 483, 513,
527, 555; V. 29, p. 145, 331, 383,436,460,539,583, 630; V. 30, p. 658; V. 30, p. 67, 209, 519, 545.)
67,143, 191, 289, 298, 355 409, 433, 519, 568.)
fany was organized May 23,1879, under the charter of the St. Paul Sc
St. Louis
d
Southeastern.—Line
of
road—East St. Louis, Ill., to
Evansville, Ind., 160 miles; branches to Shawneetown, Ill., 41 miles,
and to O’Fallon, Ill., 6 miles; total, 208 miles. The whole consolidated
line, June 1, 1872, embraced the Evansville Henderson Sc Nashville and
the Edgefield Sc Kentucky Railroads, 353 miles in all. Capital stock,
$4,866,250
common
and $5,974,850 preferred.
Default
was
made in
St. Paul d Sioux City.—This was a consolidation in August, 1879, of the
St. Paul Sc Sioux City and the Sioux City Sc St. Paul, forming a main
line from St. Paul to Sioux City, 270 miles. With extensions in progress,
the company had 460 miles of road, with a single mortgage of $4,600,000, or $10,000 per mile. All the old securities of both roads were
retired with the new stock and bonds.
In November, 1879, an agree¬
ment was made for the consolidation of a part of this company's road*
June, 1880.]
Subscribers will
confer a great
favor by giving:
DESCRIPTION.
Miles
on
first page
Road. Bonds Value.
of tables.
Continued)—
Falls, 1st mort—
Income bonds
St. Paul A Sioux City—(
St. Paul Stillwater & Taylors’
do
do
do
Pacific—Stock
Charleston—Stock
by S. C
Funded int. bonds, S. & C. RR., guar,
C. & S.„ guar,
by S. Car...
RR
Savannah Florida A West.—Consolidated 1st mort.
Sav. Albany & Gulf RR. mortgage bonds
1st mortgage,
Savannah & Charleston
Southern Georgia &
do
Florida, 1st mortgage....
do
2d mortgage....
C.of G.)
D. & H_.
Schuylkill Valley—Stock
Scioto Valley—1st mort. (s. fund $13,000 per year).
2d mortgage (sinking fund, $5,000 per year)
Savannah Griffin A N.Ala.—1st M. (guar, by
Savannah A Memphis—1st mortgage
Schenectady A Duanesburg—1st M., guar.
Seaboard A Roanoke—Stock
1st mortgage....
Selma Rome A Dalton—1st mort., Ala. & Tenn.
2d mort., Alabama & Tenn. River RR
General mortgage
Shamokin Valley A Pottsville—Stock
1st mortgage, gold, on road and lands..
Sheboygan A Fond du Lae—1st mortgage
1st mortgage extension
Shenango A Alleghany—1st mortgage
/Shore Line (Conn.)—Stock
i
1st mortgage, construction bonds
Sioux
City A Dakota—Dakota So.,
2d mortgage
Riv.
ii*6
....
lOfe
28o
....
1,000
1869
.
....
.
.
1870
1,000
1874
100 &c.
50
100
100
78^
78ia
32
50
50
61ia
53
105
....
....
....
....
....
1876
1879
500 &c.
1,000
100
1,000
1851
^ 9
_
.
^
m ^
'
_
.
.
9
50
....
1871
1864
1871
1869
1865
1874
1878
1868
500 &c.
1,000
.
•.
.
• • • •
1,072,000
2,303,000
3,750,000
1,000,000
2
....
.
500 &c.
100
100 &c.
1,000
1,000
500 &c.
500 &c.
2,423,000
500,000
576,050
S. Charleston, 1st
N.
....
M. & N.
M. & N.
Nat. Bk.
New York.
do
M. & 8.
J. & J.
J. & J.
...
Y., Perkins,
290,000
s
1,299,600
210,000
791,000
230,000
5,000,000
869,450
2,000,000
750,000
850,000
874,500
do
do
"
do
do
200,000
558,000
300,000
1,629,000
1,628,020
Oct. 1,
1875
July, 1902
Sept. 1, 1899
Jan. 1, 1889
1879
Nov.
1, 1888
May 1. 1889
'
M. & N. N. Y. ,R. A. Lancaster&Co
M. & S. Del. & Hud. Canal Co.
Philadelphia, Office.
J. & J.
J. & J. N.Y., Winslow, L.
7
do
do
A. & O.
7
M. & N.
3*3
do
do
F. & A.
7
New York, Office.
J. & J.
7
do
do
J. & J.
8
do
do
A. & 0.
7
F. & A. Philadelphia,Treasurer.
3
do
do
7 g. J. & J.
N. Y., (In default.)
J. & D.
7
do
do
A. & O.
8
A. & O. N. Y., N.Bk. of Com’rce.
7
J. & J. N. H., Nat. N. H.
3*2
do
do
M. & 8.
7
New York.
7 g. F. & A.
do
J. & D.
7
J. & J. N. Y. ,Nat. Park Bank.
6
J. <fc J. U.S. Treas., at maturity
6
Phil.,Townsend,W.&Co.
Bank.
1,000,000
Dividend.
July, 1897
L.& Post
& Co.
1,300,000
Stocks—Last
July 1, 1901
1st N. Bk., Sandusky, O.
& J. N. Y., Union Trust Co.
M."&
7
7
7
7
7
7
7
8 g.
6
300,000
464,000
200,000
500,000
1874-569
J.
"6
1,666,000
....
....
8
505,000
111,800
500,000
500
100 &c.
500
500 &c.
1853
1868
1869
1867
Whom.
Payable
$450,000
7
Payable, and by
Where
When
101,520
14*2
80
80
Rate per
Outstanding
Cent.
50
....
1868
1869
11
98
98
pal,When Due.
Amoimt
$....
....
58
58
63
60
28
28
1st M.,coup., s. f.
1st mortgage
mortgage
(government subsidy)
City & Pembina,
Sioux City A Pacific—1st
Sioux
22
116
94
111
101
1st mortgage, new
Sail Francisco A North
Savannah A
Par
of
of
Bonds—Princi¬
immediate notice of any
error discovered in tbese Tables.
INTEREST OR DIVIDENDS.
Size, or
Date
51
BONDS.
RAILROAD STOCKS AND
July 1, 1891
May 1, 1890
Sept. 1, 1924
Jan., 1880
Jan. 1, 1896
April 1, 1894
Nov. 1, 1879
Aug., 1880
Jan. 1, 1872
Jan. 1, 1864
April 1. 1887
Feb., 1880
July, 1901
June. 1884
October, 1896
April 1, 1889
Jan. 5, 1880
Sept. 1, 1880
Feb. 1, 1894
June 1, 1908
Jan. 1, 1898
Jan. 1,
1898
80 miles. Road opened 1851. The company has paid dividends for a
Nebraska Railroad. The line to begin at number of years. Of the stock, $1,055,400 is common, $200,000 is 1 st
Omaha, running through the Missouri Valley towards Sioux City, and 7 per cent guar., and $44,200 is 2d guar. Net earnings in the year
with about 40 miles to be built, making a line from St. Paul to Omaha. ending March, 1880, $236,452.
(See Chronicle, V. 29, p. 226, 303, 331, 513.) The St. Paul Stillwater
Selma Rome A Dalton.—From Selma, Ala., to Georgia State line. Suc¬
& Taylbr’s Falls was consolidated with this company (V. 29, p. 423);
also the Worthington Sioux Falls & Iowa and Covington & Black Hills. cessors to Alabama & Tennessee River Railroad. (The road was opened
New stock to cover these acquisitions was to be issued at $10,000 per June 1, 1870. Defaulted in 1871, and decree of' foreclosure obtained
mile. The. St. Paul Stillwater & Taylor’s Falls (St. Paul, Minn., to Still¬ March 24,1874. The line in Georgia (65 miles) was sold November, 1874,
water, Minn., 70*2 miles and 6*4 miles branches, had capital stock, and reorganized as Georgia Southern. The line in Alabama was sold
common, $207,000; preferred, $83,900. Share for share of the common June 14, 1880, for $1,700,000, and the Court held the Alabama & Tenn.
mortgages a prior lien on this, and interest is overdue on those
stock is exchanged for St. Paul & Sioux City stock.
The company River
19 and 15 years respectively.
The company took a land grant by
received from the State of Minnesota 44,246 acres of land.
Three for
years’ coupons from the first mortgage bonds were funded into income act of Congress June 3, 1856, of 481,920 acres. A second mortgage
bonds.
The St. Paul & Sioux City had lands unsold January 1,1879, is for $3,900,000, and the stock $4,000,000, and cost of road put at
of 560,680 acres; the Sioux City & St. Paul had 439,858 acres. In Jan., $12,980,000. John Tucker, Receiver, Selma, Ala. (Y. 30, p. 299, 323,
1880, 200,000 acres of land were sold to English capitalists at $6 per 375, 434, 568, 589, 651.)
acre.
Full accounts of the consolidation and negotiations of this
Shamokin Valley A Pottsville.—Line of road, Sunbury, Pa., to Mount
company were given in the pages of V. 29 of the Chronicle as they
Carmel, Pa., 27 miles; branch to Lancaster Colliery, 4 miles; total, 31
transpired. In March, 1880, a consolidation of this entire line with miles. The
road was leased February 27,1863, to the Northern Central
the Chicago St. Paul & Minneapolis was negotiated, and H. H. Porter
Railroad Company, with a guarantee of interest on the bonds and 6 per
was elected President of the “ St. Paul Omaha & Chicago ” Railroad.
cent per annum on the stock. The yearly reports will be found in the
—(V. 28, p. 171; V. 29, p. 226, 303, 331, 383, 436, 459, 483, 513, 539; Chronicle with the reports of the Northern Central Railroad. Thomas
V. 30, p. 118, 193, 223, 249, 264, 299, 409, 494, 625, 648, 651.)
A. Scott, President, Philadelphia.
Sandusky Mansfield A Newark.—Line of road, Sandusky, O., to New¬
Sheboygan A Fond du Lac.—From Sheboygan to Princeton, Wis., 79
ark, O., 116 miles*. A consolidation of several roads in 1856. Leased miles. Road opened in 1872. The company has been in default since
13,
1869,
to
Railroad,
for
5
months
February
Central Ohio
17 years
from 1873. In May, 1879, the president issued a circular to the bondholders,
July 1,1869, at a rental of $174,350, and the terms of lease guaranteed
saying that the only way to get the road out of difficulty was to make an
by Baltimore & Ohio Railroad. It is operated as Lake Erie division of extension of 58 miles, for which he proposed a surrender of old bonds
the Baltimore <fc Ohio system.
In 1878-79 the gross earnings were and issue of new on certain terms. (See Y. 28, p. 467.) Stock was
$639,821, and net earnings, $189,114, against $234,227 in 1877-78. $1,400,500. On April 3,1880, the road was sold in foreclosure, and
—(Vol. 29, p. 535 ; V. 30, p. 544.)
bought for $1,500,000 by M. L. Sykes of the Chicago & Northwestern.
A. G. Ruggles is President, Fond du Lac, Wis.
(V. 30. p. 375.)
San Francisco A North Pacific.—San Rafael, Cal., to Cloverdale, Cal.,
78 miles, with a branch from Fulton, Cal., to Guemeville, Cal., 16 miles.
Shenango A Alleghany.—Line of road, Shenango, Pa., to Brady’s Bend,
This is a consolidation of several companies. In 1876-7 (no later infor¬ Pa., 95 miles; in operation, Shenango to Hilliard, Pa., 46 miles. The
mation furnished) gross earnings were $467,501 on 72 miles oper¬ road was leased to the Atlantic & Great Western, and “rental trust’*
bonds were issued.
The company made default in 1879, but the
ated, and net earnings $247,398.
October coupons were paid Feb. 21,1880. (V. 29, p. 408.)
Savannah A Charleston.—Savannah, Ga., to Charleston, S. C., 106
miles; Ashley River branches, 5 miles; total, 111 miles.
Formerly the Shore Line (Conn.)—Line of road, New Haven, Conn., to New London,
Charleston & Savannah Railroad; reorganized in 1876 under present Conn., 50 miles. Leased to New York and New Haven Railroad Com¬
name, and opened March, 1870.
Defaulted September, 1873, and pany November 1,1870, at $100,000 net per annum. Chartered as New
since operated by a receiver.
Sold in foreclosure June 7, 1880, for Haven <fe New London Railroad; sold in foreclosure and reorganized
$300,000. Capital stock, $1,000,000. C. P. Mitchell, President and under present title June 29,1864. Dividends 3Lj in Jan. and 4 in July.
Reoeiver, Charleston, S. C. (V.* 30, p. 625.)
Operations and earnings for five years past were as follows:
Div.
with the Omaha
& Northern
!
Savannah Florida A Western.—Savannah,
miles; branches: to Live Oak, Fla.,
Ga., to Bainbridge, Ga., 237
49 miles; to East Albany, Ga., 58
miles;.other, 3 miles; total operated, 350 miles. This was a consolida¬
tion in 1865 of the Savannah Albany & Gulf Railroad and the Atlantic
& Gulf under the latter name. The Atlantic & Gulf Company made
default January 1.1877, and receivers were appointed in March, 1877.
The road was sold in foreclosure of the second mortgage on Novembor 4,
1879, subject to the consolidated mortgage and other prior liens
amounting to about $2,713,000. The present company has been organ¬
ized with a capital stock of $2,000,000. No reports of earnings have
been made for several years. (V. 29, p. 40, 250, 488, 608.)
Savannah Griffin A North Alabama.—Griffin, Ga., to Carrollton, Ga.,
63 miles. Operated in connection with Central Railroad of Georgia.
Capital stock, $812,678. In 1877-8 gross earnings were $52,465, and
net
Years.
Passenger
Mileage.
Miles.
50 10,264,523
9,684,933
50
8,213,330
50
7,870,049
50
50
Freight (ton)
Mileage.
1,520,602
1,473,634
1,265,575
1,363,500
-(V. 28, p. 40.)
Gross
Earnings.
$409,971
379,571
342,374
317,978
299,086
Net
Earnings.
$127,786
108,083
49,869
101,539
143,171
p. c.
6
6
6
6
6
Southern (Sioux City, la., to Yank¬
merged, with the Sioux City & Pembina,
1879. Both lines built in same
interest, and surplus applied to construction. Gross earnings in 1879,
$184,170; net, $46,305. In February, 1880, the Chicago Milwaukee
& St. Paul leased this road, but this is contested at law by John I.
Blair. (V. 28, p. 120; V. 29, p. 277; V. 30, p. 168, 314, 568.)
earnings, $20,709.
Sioux City A Pacific.—Line of road from Sioux City, la., to Fremont,
Savannah A Memphis.—From Opelika, Ala., to Goodwater, Ala., 60
miles. Opened in 1874. Receiver appointed November, 1878, in fore¬ Neb., 107 miles; leased—Fremont Elkhorn & Missouri Valley Railroad,
closure suit. Road sold June, 1880, for $834,000. Gross earnings for 51 miles; total line operated, 158 miles. This was one of the subsidized
roads, but the interest on first mortgage bonds has not been fully
year ending June 30, 1878, $49,071; net earnings, $7,357.
P. P. Pacific
earned, and the United States Auditor of Railroad Accounts reports no
Dickenson, President, N. Y. City. (V. 30, p. 467, 625.)
net earnings subject to the payment of 5 per cent to the United 8tates.
Schenectady A Duanesburg.—From Quaker Street Junction, N. Y., to For the year ending June 30,1879, the gross earnings were $353,329
Schenectady, N. Y., 14 miles. Formerly Schenectady <fc Susquehanna and net earnings, $99,120. The capital stock is $2,068,400, of which
Railroad, and was foreclosed in 1873; reorganized and leased in per¬ $169,000 is preferred, receiving a dividend of 7 per cent per annum*
as follows:
petuity to the Delaware <fc Hudson Canal Company. Lease rental, The balance sheet of the company June 30,1879, was
Assets.
Liabilities.
$30,000 per year, paying 6 per cent on bonds. Stock, $100,500.
Road and equipment... $5,350,137
46,731
United States bonds... .$1,628,320 Material
Schuylkill Valley.—Port Carbon to Reevesdale, Pa., 11 miles; branches, Interest on bonds
1,073,500 Cash
42,185
10 miles; total, 21 miles. It is an old road, and was leased to the Phila¬ First mortgage bonds.. 1,628,000
5,000
Company’s
bds.
stocks
&
delphia & Reading Railroad from September 1,1861, at an annual rental Interest on bonds
7,184
50,115 Accounts receivable....
of 5 per cent on the stock. Operations are included in the Philadelphia Bills
102,427
payable
5,000
Due from United States.
& Reading reports.
Pay-rolls and vouchers.
33,856 Deficit or debit (balance
Accounts payable
87,426
1,020,949
income one-half)...
Scioto Valley.—Columbus, O., to Portsmouth, O., 100 miles. Road Capital stock
2,068,400 to
opened in January, 1878. Stock is $1,772,050. Gross earnings in 1878
were $282,153; net earnings, $125,877.
Total
.$6,574,618
Total
.$6,574,618
In 1879 gross earnings were
$317,822. E. T. Mithoff, President, Columbus, O. (V. 27, p. 653; V. 28, The company has a land grant of about 60,000 acres. (V. 27, p. 96, 253,
p. 525.)
374.)
Seaboard A Roanoke.—Line of road, Portsmouth, Va., to Weldon, N. C.j
Sioux: City A Dakota.—The Dakota
ton, Dakota, 61 miles,) was
as the Sioux City & Dakota, Nov. 1,
..
52
RAILROAD
Subscribers will confer
a
STOCKS
AND
BONDS.
great favor by giving immediate notice of any error discovered in tliese Tables.
DESCRIPTION.
For explanation of column
on first page
Somerset— 1st
bendings, <fee.,
of tables.
see notes
mortgage, gold
25
1871
781
1st mortgage, sterling loan
1st mortgage, dollar bonds (I.)
2d mortgage (for $3,000,000)
Domestic bonds (I)
Domestic bonds (K)
So. d No. Alabama—1st M., endorsed by Alabama.
Sterling mort., s. fund, guar, by L. & N
Southern Central (N. 1.)—1st mortgage
2d mort. gold ($400,000 end. by Leiiigh V. RR.).
1st mortgage interest bonds
2d mortgage interest bonds
Southern Iowa d Cedar Rapids—1st mort., gold....South. Pae. (Cal.)—1st mort.,gold.land gr., cp. or rcg.
Southern Pennsylvania—1st mortgage, gold
Southwestern (Ga.)—Stock, guarant’(l7 per annum
Company bonds, convertible into stock at par
Southwest Pennsylvania—Stock
1st mortgage
Spartanburg d Asheville—1st mortgage, gold
Sprinqlield d Northeastern (Mass.)—Stock
Springfield d Northwestern—1st mortgage
Spuyten Dut/vil d Port Moi'ris—Stock
State Line d Sidlivan— 1st M., conv. (red’bleaft.’88)
Staten Island—1st mortgage
Sterling Mountain (N.Y.j—1st mortgage
Stockton d Copperopolis—1st mort., (guar, by C. P.)
242
242
242
183
183
114
114
114
114
87
712
24
257
*42
30
48
45
6
29
13
7*2
30
20
20
.
1868
1868
1872
1866
1868
1870
1873
1869
1872
1877
1877
1870
1875
Var.
1877
1876
3*2
Various
546,150
962,000
3*2
1 *6*0*0
100 fee.
100
100 &C.
1865
1875
500 (fee.
50
-
1,000
The stock to remain in the hands of trustees until seven
per cent shall
have been paid on the income bonds, its voting power subject
to instruc¬
tions from second mortgage bondholders. The decree of sale was
grant¬
ed and time is to be set. See Y. 30, p. 568. The last annual
report was
in the Chronicle, V. 30, p. 517. Earnings for five years
past were as
follows:
Years.
Miles.
Gross Earnings.
Net Earn’gs.
243
$1,229,302
$448,574
243
1,126,437
478,684
243
1,020,664
426,910
243
1,011,861
371,631
1
243
1,052,023
337,745
—(V. 28, l>. 555, 580; V. 29, p. 632 ; V. 30, p. 43, 358,409, 494, 517,
568.)
South d North Alabama.—Decatur, Ala., to
Montgomery. Ala., 183
miles, with a branch of 7 miles from Elmore to Wetumpka. The road is
controlled bj' the Louisville & Nashville Railroad JCo., which owns a
majority of the stock and all the 2d mort. bonds ($1,000,000). 500,000
acres ol' land in Alabama, largely mineral, nave been transferred to
the
L. & N. Company.
Common stock, $1,461,767; pref. stock. $2,000,000.
In 1878-9 gross earnings were $873,196; operating
expenses, $558,610;
net, $314,586; deficit to Louisville & Nashville Company, $100,285.
Southern Central (N. Y.)—Fairhaven, N. Y., to
Pennsylvania State
Hue, 114 miles. Road forms an extension into New York State for
Lehigh Valley Railroad, which company endorses $400,000 of second
mortgage bonds. Capital stock paid in is $1,790,234.. Gross earnings in
1877-8, $462,906; operating expenses ami taxes, $320,056; net earn¬
ings, $142,850. In 1878-9 gross earnings were $419,942; operating
expenses, $317,670; net, $102,272.
(V. 28, p. 351 ; V. 29, p. 629.)
Southern Iov'a it: Ced.ltajiids.—lu progress. Ottumwa to Cedar
Rapids,
I#wa,
Southern Pacific of California.—Road projected and in opera tion
March,
143 'miles; Carnadero to Tres
Pinos, 18 miles; So'edad to Posa Junction (Lerdo), 160 miles; Huron to
Yuma, 529 miles; Los Angeles to Wilmington, 22 miles; Mohave Junc¬
tion to Colorado River (estimated), 278 miles. 712 miles are com¬
pleted and in operation—viz., From San Francisco to Soledad, 143
miles; Carnadero to Tres Pinos, 18 miles; Huron to Yuma, 529 miles;
Los Angeles to Wilmington, 22 miles. These 712 miles of railroad are
divided into the northern and southern divisions. The northern divi¬
sion runs from San Francisco to Soledad, and from Carnadero to Tres
Pinos, in all 161 miles. The southern division extends from Huron to
Yuma, with a branch road from Los Angeles to Wilmington, in all 551
miles, and is intersected at Goshen by the San Joaquin Br. of the Central
Pacific, by which it reaches San Francisco and the main line of Cent. Pae.
It is contemplated that the Southern Pacific will form
part of a through
line to El Paso, and there meet the Texas Pacific. At its terminus at
Pacific Railroad of Arizona, an
but closely affiliated company, which during 1879
was built and operated to Casa Grande, a distance of about
182*2 miles,
and was- completed April, 1880, l>eyond Tucson, 85 miles further
-east.
The bonds above are in series A, B, C and
D, of which
A includes $15,000,000 and B, C and D each $5,000,000; there are
.also three other series, E and F of
$5,000,000 each, and G of
$6,000,000; these latter are to be issued for new construction. Land
grant is 12,830 acres per mile, and proceeds of sales go to pay bonds.
The total grant is estimated at 11,000,000 acres, of which
7,000,000
pertain to road now built.
Besides these sales a sinking fund of
$100,000 per annum goes into operation in 1882. Stock paid in.is
.$36,763,900. The Central Pacific Railroad Company has taken a lease
of tL« southern division of this road for a period of not less than
IIvq
405,000
1,000,000
989,000
200,000
300,000
350,000
500,000
4,010,350
1,000,000
g.
g.
g.
g.
0 g.
<
7 g.
400,000
1,000
adjudication is to be obtained declaring all second mortgage bonds valid.
29,520,000
g.
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
Whom.
Dividend.
Charleston,S.W.RR Bk
July, 1891
May, 1871
J.
7
was
Yuma it connects with the Southern
&
Q.-F.
133,000
584,500
42,000
1,500,000
&c.
April, 1880, four per cent for 1881, live per cent for 1882, six per cent
for 1883, and thereafter seven per cent; but if the railroad earns
enough
to pay more than this on the second mortgage bonds, it shall
pay it up to
seven per cent.
The principal of the secured floating debt is to be first
reduced by the sale of all the hypothecated first
mortgage bonds at par
and interest to the holders thereof, and the remainder is to be canceled
by the sale to the holders of said debt of a sufficient nvanber of second
mortgage bonds (interest reduced as above) at eighty per cent cf their
par value; the second mortgage bonds remaining to be canceled.: An
independent
J.
1,000
100 <fec.
210 &c.
210 &c.
hypothecated at 50 cents on the dollar to
Apian of reorganization to save foreclosure has
been made in 1880, which embraces the
following points:—The April,
1880, and all preceding coupons on the second mortgage bonds, the
accrued interest to April 1, 1880,on all floating debt, the'
principal of all
unsecured floating debt, and the principal and interest to
April, 1880, of
the non-mortgage bonds, are all to be funded into third
mortgage lioncumulative seven per cent income bonds. The interest on the second
mortgage bonds is to be reduced to three per cent for the year beginning
•'
g.
625,000
3,892,300
$1,000
floating debt.
1880: San Francisco, Cal., to Soledad,
7
1
5
6
7
7
6
8
6
7
7
7
7
7
100
100
1.000
£209
South Carolina- Charleston to Hamburg, S. C., 137
miles; branches to
Columbia, 68 miles, and to Camden, 38 miles: total main line and
branches, 243 miles.
A receiver took possession in
September,
1877, at the suit of 2d mortgage bondholders: a large part of
mortgage
Payable
1,482,666
1.051,500
1,206,500
1,067,500
63,500
391,000
5,075,040
1,500,000
600,000
5*00
1878
1874
When
Cent.
$450,000
5,819,275
1871
...
Rate per
J.
J.
A.
A.
J.
J.
M.
F.
M.
F.
M.
M.
A.
M.
J.
J.
London.
1878 to ’88
J.
New York.
1878 to ’88
0.
do
Oct. 1, 1902
O.
Charleston.
April, 1891
J.
do
1880 and 1892
J. N. Y., Drexel, M. & Co. Jan. 1, 1890
N.
London, Baring Bros.
1903
A. N. Y., Vermilye A Co.
Aug. 1, 1899
S.
do
'
do
Mar. 1, 1882
A.
do
do
Aug. 1, 1887
S.
do
do
Sept. 1, 1887
N.
May 1, 1900
O. N. Y., C. P. Huntington. April 1, 1905
S.
Mar. 1. 1900
D. Savannah,Cent.RR. Ga. Dec. 20. 1879
Macon.
7
7 g.
F. *& A. Pbila. and Greensburg.
J. A J. Oharlestou& New York.
7 g.
F. *&* A.
J. & J.
J. & J. N.
3*2
7
7
7
5
3
7
J.
&
&
F. &
J. &
J.
J.
J.
A.
J.
1882
Sept, 30, 1879
Feb., 1917
Jan. 1, 1897
Feb. 1,
Y., Union Trust Co.
Now York.
Y., Central Pacific.
Pliila.,233 So. 4th St.
do
do
N
1901
Jan., 1880
Jan. 1, 1899
1885
v
January, 1905
Feb. 16, 1876
Jan. 1, 1904
years from January, 1880, and by the terms of the lease “if a railroad
is not completed in five
years from that date, so that there is a connec¬
warnings, 1877-8, $20,853; operating expenses and taxes, $15,400, net
$5,453. Road is leased to Maine Central.
•secure
Outstanding
100
Various
500
Somerset.—West Waterville, Me., to Anson, Me., 25 miles. "An exten¬
sion of 7 miles to Solon proposed. Capital stock, $377,573. Gross
>tms
Amount
$100
50*0*
Bonds—Princi¬
pal;'When Due.
Where Payable, and by Stocks—Last
INTEREST OR DIVIDENDS.
Miles
Date
Size, or
of
of
Par
Road. Bonds Value.
South Carolina—Stock
Summit Branch (Pd.)— Stock
1st mortgage bonds
[Vol. XXX.
tion of the Southern Pacific Railroad of California with the Eastern
sys¬
tem of railroads on what is known as the
thirty-second parallel line, the
lease shall be extended until such connection is
made, provided such
extension does not exceed five years
longer, or ten years in all,” from
January, 1880.
By the terms of the lease, “ the net rental agreed to be
paid during the continuance of this lease and any extension thereof,
shall be $250 a month, or $3,000 a
year per mile,” (being, at present, on
about 55*4 miles, equal to about $1,650,000 annual rental), “ and
if, for
any cause, it shall be reduced by mutual consent, the rental shall be at
least sufficient to pay interest on bonds.” In 1878 the
gross earnings
were $4,327,086 and net earnings
$2,155,704. In 1879 the net earnings
were $362,761 on northern division and
$1,635,554 rental on southern
division ; total, $1,998,316. (Vol. 30, p. 93.)
Southern Pennsylvania Railway d Mining
Company.—South Pennsyl¬
vania Junction to Richmond, Pa., 21 miles, with a branch from Rich¬
mond to Ore Banks, 2 miles. Leased for 199
years from March 1, 1870,
to Cumberland Valley Railroad Company. Road
originally organized
under the name of Southern Pennsylvania Iron & Railroad
Company,
but was sold
by foreclosure of second mortgage December, 1872, and
reorganized under present name. Capital stock, $800,000.
Southwestern (Georgia).—This road was formed November 1, 1868,
by
consolidation of the Southwestern Railroad and the
Muscogee Railroad.
It runs from Macon, Ga., to Eufaula, 144 miles, and has 166*2 miles of
branches, the main
one
being from Fort Valley to Columbus, 72 miles.
A lease was made August 1, 1869, to the Central Railroad of
Georgia,
which assumes the liabilities and guarantees 7
per cent on the stock,
but 8 per cent is to be paid if 10 per cent is paid on Central stock. Gross
earnings in 1878-9,
$751,575; operating expenses and taxes, $443,952 ;
net, $307,623; rental paid by lessee, $352,631; loss to lessee, $45,032.
Southwest Pennsylvania— Greensburg, Pa., to Olyphant, P., 42 miles.
Opened April 1, 1873, and leased to Pennsylvania Railroad, which oper¬
ates it at cost, paying net earnings as rental. In 1878
gross earnings
were $338,707, and net
earnings $183,409. Interest on bonds and 7 per
cent dividends'on stock were paid out of net
earnings *of 1879.
Spartanburg d- Asheville— Road,
as
projected, extends from Spartan¬
burg, S. C., to Asheville, N. C., 67 miles, of which 48 miles, Spartanburg
to
Hendersonville,
are in operation.
Placed in hands of receiver Novem¬
Capital stock, $1,000,000.
Springfield d• North eastern—Springfield, Mass., to Athol, Mass., 48*2
miles. Organized as Athol & Enfield, but name
changed to Springfield
Athol & Northeastern, when road was extended to
Springfield. Sold in
foreclosure in 1879 and present company organized. Purchased in 1880
by' Boston <fc Albany. Gross earnings, 1877-8, $91,924, and net., $21,979.®
In 1879 the gross earnings were about $100,000
and net earnings
$28,000. Willis Phelps, President, Springfield, Mass. (V. 30, p. 600.)
Springfield d Northwestern.—Springfield, HI., to Havana, Ill., 45 miles.
Opened in 1873. Road as projected is 150 miles to Rock Island, Ill.
Company became involved, and was placed in the hands of a receiver.
Capital stock paid in was $180,000. In 1877-8 gross earnings were
$53,800 and net $3,493.
Spuyten Duyrel d Port Morris.—Road is 6 miles in length and connects
ber, 1878.
.
the New York Central & Hudson with the New York & Harlem. Leased
to New York Central November 1, 1871. Rental is 7
per cent on capital
stock of $989,000. Operations are included in lessee’s returns.
State Line d: Sullivan.—Monroeton, Pa., to
Berenice, Pa., 24 miles.
Originally organized as Sullivan <fc Erie Coal & RR. Co., which was sold in
foreclosure Oct. 14, 1874, and a new company formed December 2,1874,
under the present name.
Stock, $1,000,000 (par $50). The mortgage
covers 5,000 acres coal lands.
In 1878 gross earnings were $40,867,
and net earnings, $29,673.
Staten Island.—Local road on Staten Island,
Stapleton to Tottensville,
13 miles. Road was purchased by present owners in
1874, and is
operated in connection with Staten Island Ferry Company. Capital
stock, $210,000. Earnings, 1877-8—from ferry, $185,682; from rail¬
road, $67,339; total, $253,011; operating expenses, $205,777: net,
$47,234. Interest, $23,093 : surplus, $24,141.
Sterling Mountain (N. Y.)— Road runs from Sterling Junotion on the
Erie Railway to Lakeville 8 miles. Gross
earnings, 1877-8, $17,820;
expenses and taxes, $16,132; net, $1,6881 Capital stock, $80,000.
Stockton d Copperopolis.-*-]Present
company is a consolidation, made
November 17, 1877, of the Stockton & Copperopolis and the Stockton <fe
Visalia. Line of road, Stockton to Oakdale, Cal., with a branch of 12
miles. Leased to Central Pacific Railroad Company for
thirty years
from December 30, 1874.’ By the terms of the lease the lessee
agrees to
pay principal and interest of the bonds. Capital stock, $234,500. The
company previously made default July, 1874, and the $1,000,000 of
old bonds were exchanged for the present issue
guaranteed*
Summit Branch (Pa.)—This company operates the
Lykens Valley
Railroad, w hich extends from Millersburg, Pa., to Williamstown, and it
has a small branch of its own to Summit Mines, 3* of a mile. Traffio is
almost exclusively coal. Gross earnings in 1879, $142,090;
operating
expenses, including rents, $142,048; net, $42.
.
Snbscribera will confer a great flavor
i
first page
of tables.
by giving immediate notice of any error
Miles Date Size, or
Par
of
of
Road. Bonds Value.
100
2,004,000
1,000
270,000
1,750,000
261,400
1,000,000
Syracuse Binghampton d N. Y.—Stock
2d mortgage (now first)
Consol, mortgage (guar. D. L. & W.)
Syracuse Chenango d New For A'—Funded debt.
Syracuse Geneva d Corning—1st mortgage
81
81
1875
1867
81
43
57
113
73
1876
1877
1875
1,000
50 &c.
1869
1873
1,000
1874-56
Terre Haute d Indianapolis—Stock
1st mortgage, guar
Bonds ot 1873 (for $1,600,000)
Tcrt'c Haute & Logansport.—Stock.
50
Texas d N. Orleans of ’74—1st mortg. landgr., o
Texas d Pacific—1st mortgage, gold, coup. (E. Div.)
2d mort., consol., gold, coup. (E. Div.)
Income and land mort., reg. (7,600,000 acres)...
Lana scrip for int.on inc.mort.(conv.into st’k or I’d)
1st mortg. on Rio Grande Div., $25,000 p. mile..
Tioga 11R— 1st mortgage
Consolidated mortgage
Extension bonds
Toledo Canada southern d Detroit—Stock
Troy d Boston—Stock
1st mortgage, consolidated
1879
1875
1875
1875
1875
1880
1880
1852
1876
600
54
54
....
.
1874
Tyrone & Clearfield—Stock
....
.
^
.
.
1,000
City.
2ie
60
1876
74
i,obo
1,000
2d
1,825
1,038
equipment
Suspension Bridge d Eric Junction
—
100
1866-9
1,000
East Buffalo Junction to Niagara
Falls and Suspension Bridge, 2314 miles. Road opened January, 1871.
It is leased to New York Lake Erie & Western Railroad Co. at 30 per
cent of gross receipts, which are guaranteed to be not less than
per annum. Lessees own all stock except 297 shares.
$105,000
Syracuse Binghampton d New ForA\—From Geddes, N.
Y., to Bing-
hampton, N. Y., 81 miles. Chartered as Syracuse A Binghampton and
opened October 23, 1854; foreclosed and reorganized April 30, 1857,
and leased to Delaware Lackawanna A Western.
In the last year
reported—ending September 30,1878, the gross earnings were $610,532;
$385,908; net earnings, $224,624; interest on bonds,
400; dividends (3 per cent), $201,520. (V. 27, p. 568.)
expenses,
Syracuse Chenango d New York.—Syracuse, N. Y., to
$141,-
Earlville, N. Y.,
43ki miles. The Syracuse & Chenango Valley Railroad was sold in fore¬
closure and a new company organized March 14, 1873, under the name
of Syracuse & Chenango Railroad. April 15,1877, road was again sold
in foreclosure and present company organized, which also became
embarrassed and passed into the hands of Mr. James J. Belden, January,
Capital stock, $801,400.
$72,278; net, $3,764. (V. 28, p. 44.)
1879, as receiver.
were
In 1878-9 gross earnings
Syracuse Geneva d Corning —Corning, N. Y., to Geneva, N. Y., 5714
miles. This road was opened December 10, 1877, and is leased to the
Fall Brook Coal Company. Stock is $1,152,500. In 1878-9 gross earn¬
ings were $349,966; operating expenses, $223,546; net, $126,420;
rental paid by lessee, $108,033; profit to lessee, $18,387. (V. 29, p.
629.)
Terre Haute d Indianapolis.—From Indianapolis to Illinois State Line
80 miles, with coal branches, 34 miles; total, 114 miles.
The road was,
opened in 1852 (as Terre Haute A Riohmond), and has been one of the
best of Western roads. The company leases and operates the St. LouiS
Vandalia & Terre Haute Road on joint account with the Pittsburg
Cincinnati & St. Louis Railroad, at 30 per cent of gross earnings, but
guarantees the first and second mortgage bonds.
past were as follows:
Years.
Miles.
1874-965.
1,547,662
1,609,000
1,384,000
Bonds—Print 1
Earnings for five years
Gross
Net
Div.
Earnings.
Earnings.
$371,713
355,955
344,403
*366,666
p. c.
....
....
....
6 g.
F. & A. New York A
M. & N.
Philad’phia
....
....
F. & A. Troy, Company’s Office.
J. A J. N. Y., Nat. B’k of Com.
do
do
M. & S.
f
7
7
1 *2
6 g.
2,'1880
J.
J.
A
A
J.
J.
1,
Oct.
1, 1905
1896
Feb. 2,
1880
1894
1882
Feb. 15, 1830
1906
*
do
do
Q.-J. New York and Boston.
do
do
J. A J.
—(V. 29, p. 171, 299, 358,
358, 409, 567.)
Nov.
Office.
Co.’s
Rondout,
Feb. 1, 1930
May 1, 1882
...
Phila., 233 South 4tli.
.
July 1, 1880
1896 to 1899
Gross
.Freight (ton)
Passenger
Mileage.
7,458,450
10,110,024
13,886,499
15,004,800
11,651,041
444
Feb.
July. 1879
do
1910
& J. N.Y., Farmera’L.A T.Co.
& A. New York, Co.’s Office. Aug. 1, 1905
& S. Phila., N.York ALondon March 1, 1905
June 1, 1905
do
do
A D.
July. New YorkA Philad’phia Jan. 1, 1915
J.
F.
M.
J.
320
325
415
444
L.A T.Co.
Feb., 1880
June, 1887
Oct. 1, 1906
Aug. 1, 1907
Nov. 15, 1905
1893
6
7
6 g.
6 g.
7
Miles.
....
J. N. Y. Lake Erie A West.
D. N.Y., D L. AW.RR. Co.
do
do
D.
do
do
O.
A. Sj'racuse Savings Bank.
Stocks—Last
Dividend.
....
3kj
50,762,300
27,231,900
....
&
&
A
A
Whom.
6
680,000
1,000,000
136,000
1,342,600
1874-5...
1875-6...
1876-7...
1877-8...
1878-9...
&
pal,When Due.
Payable, and by
J. & J. N.Y.,Farmers
do
A. & O.
2
7
7
650.000
Years.
J.
J.
J.
A.
F.
7
7
7
265,000
....
1878
mortgage
mortgage income bonds
Union Pacific—Stock
1st mortgage, gold, on road and
1,000
500 Ac.
’.
mortgage bonds (for $1,000,000)
Troy Union—1st mortgage, guaranteed, Troy
1,000
1,000
7
7
2
7
7
7
7
4
7
7
800,000
800,000
500,000
500,000
1,050,000
3,481,000
7,619,000
7,921,000
1,500,000
5,000,000
239,500
125,000
1,000
1,000
1,000
100
53
35
New
Ulster d Delaware—1st
discovered in these Tables.
Rate per| When Where
Cent.
1 Payable
1,988,150
50
93
106
444
444
444
•
$500,000
1,000.000
23
23
1st mortgage
Amount
Outstanding
$....
1,000
Suspension Bridge d Erie Junction—Stock
Convertible bonds
53
BONDS.
AND
INTEREST OR DIVIDENDS
DESCRIPTION.
on
STOCKS
RAILROAD
June, 1880.]
Mileage.
Earnings.
14,217,234
28,006,762
43,369,881
51,022,434
50,723,818
$1,183,313
1,564,625
2,043,453
2,331,310
Net
Earnings.
$393,509
672,743
691,007
882,871
738,629
2,136,143
564, 621, 632, 650; V. 30, p. 17, 43,118, 274,
Tioga—Arnot, Pa., to State line New
York, 44 miles; branch, Bloss-
burg, Pa., to Morris’ Run, Pa., 4 miles; leased, Elmira State Line Rail¬
road, State line New York to N. C. Railway Junction, 7 miles; total, 55
miles. The stock is $580,900. In 1878 gross earnings were $325,466
and net earnings, $145,547; dividends paid, 8 per cent ou stock. Net
earnings have been as follows: In 1878, $145,547; 1877, $126,606;
1876, $107,775 ; 1875, $114,769. F. N. Drake, President, Corning, N. Y.
Toledo Canada Southern d Detroit.—Toledo, Ohio, to Detroit
T. Junction), Mich., 55 miles. Road opened September 1, 1873.
1879 gross earnings were $416,544;
expenses,
deficit, $44,954. The bonds were
mortgage bonds at 70 per cent of
operating
(G.
In
$461,498;
exchanged into Canada Southern first
face value.
Troy d Boston.—From Troy, N. Y., to Vermont State line, 35 miles ;
(leased), 6 miles; Troy & Boston (leased), to North
Adams, Mass.. 7 miles; Troy & Bennington (leased), 5 miles; total oper¬
ated, 53 miles. Last annual report in the Chronicle, V. 30, p. 168.
Net earnings in 1878-79, $288,519; interest, $190,836; rentals. $27,537;
hire of ears, $8,153.
Total charges, $226,526. Balance to surplus,
$61,992.
The floating debt Sept. 30, 1879, was $380,648, against
Southern Vermont
$436,022 in 1878.
follows:
Years.
Miles.
5?
53
53
53
53
-
Operations and earnings for five years past were as
Passenger
Mileage.
4,696,351
5,605,546
6,660,492
6,492,660
Freight (ton)
Mileage.
6,724,679
13,908,977
16,853,882
23,829,494
Gross
Earnings.
$524,276
566,540
’ 560,764
560,344
Net
Div’d
Earnings, p. ct.
$247,643
4
268,206
276,614
274,747
4
4
2
10
593,896
288,519
10
1,026,028
6 -(V. 28, p. 119 ; V. 30, p. 168.)
• *893,792
8
Ti'oy Union—A small road in Troy City, extending from Hoosick Street
1878-9
Bridge to Troy A Greenbush RR., 2*4 miles. Owned "jointly by several
Eleven months only.
roads. Capital stock, $30,000. Bonds were issued by the City of Troy,
Terre Haute d Logansport.-B.ocal extends from Logansport, Ind., to and are
guaranteed by the companies interested.
Rockville. Formerly Logansport Crawfordsville & Southwestern, which
foreclosure
was sold in
September 10, 1879, and reorganized under
Tyrone d Cleariield.—East Tyrone, Pa., to Curweusville, Pa., 44 miles;
present name. Rockville extension of the Evansville A Terre Haute branches, 17 miles; total, 61 miles.
This company was organized
Railroad, Rockville to Terre Haute, is operated under lease. Leased by April 1, 1867, after sale in foreclosure.
Road completed in 1872. It
Terre Haute & Indianapolis Railroad for 25 per cent of gross earnings, was leased to the Pennsylvania Railroad in 1878; rental was $73,500.
and first mortgage bonds guaranteed by that company. Gross earnings, G. B. Roberts, President, Philadelphia, Pa.
January to July, 1879, $113,062. (V. 29, p. 252, 277, 459, 564.)
Ulster d Delaware.—Rondout (Hudson River), N. Y., to Stamford, N. Y.,
Texas d New Orleans (of 1874).—Houston, Tex., to Orange (Sabine
River), 108 miles. This was a reorganization, 1874, of the old Texas & 74 miles. This was the Rondout & Oswego in 1876; reorganized May
New Orleans Railroad. It will soon be extended, completing an all-rail 28,1872, as New York Kingston & Syracuse, and again, after foreclosure,
route from New Orleans to Houston. The stock is $3,000,000. Gross May 1,1875, as Ulster & Delaware. The stock is $1,152,100. In 1877-8
earnings in 1878 were $220,137; net, $94,284. John T. Terry, Presi¬ the'gross earnings were $163,157; net earnings, $31,658. Thos. Cornell
114
114
114
114
$1,092,007
1,076,965
•
*
dent, New York, N. Y.
Texas d Pacific.— Line of road, Marshall to Fort Worth, Texas, 180
miles; Marshall to Shreveport, La., 40 miles; Marshall to Texarkana
Junction, 69 miles; Texarkana to Sherman, Texas, 155 miles. Total
length, 444 miles. It was built under act of Congress of March 3,1871,
ana other acts in 1872 to ’74, and the laws of Texas.
This company suc¬
ceeded to the right of the Memphis El Paso & Pacific Railroad and other
companies. By a contract made in January, 1880, with Pacific Railway
Improvement Company, the road is to be extended to El Paso on the
Rio Grande, about 600 miles, to meet the Southern Pacific of California,
at $20,000 in bonds and $20,000 in stock per mile of road, and the
work completed bv January 1,1883. (See Chronicle, V. 29, p. 650.)
The stock authorized is $50,000,000, and issued $7,706,000, of which
61,734 shares are held in trust till October 1,1880. Stock may be issued
in redemption of certificates.
From the State of Texas the company
has already received 4,851,702 acres of land, There were also 1,000
-certificates for 640,000 acres deposited in trust for certain foreign claim¬
ants. The railroad lands in Texas, however, do not lie adjacent to the
line of the roads owning them. Of the land, 3,074,378 acres had been
.surveyed and located to May 31,1878, of which 36,529 acres are east of
Fort Worth, 148,801 acres between Fort Worth and the 100th meridian
and 2,889,048 acres west of the 100th meridian. The land grant by
in California and 40 sections
and California. The acts of
in regard to this road made conditions as to time of construc¬
which have not apparently been fulfilled; but the main pro¬
aots of CongresSjAvere 20 sections per mile
per mile in the Territories between Texas
•Congress
tion, &c.,
vision for its completion before July 1, 1882, may be complied with.
The last annual report was published in the Chronicle of Sept. 20,
1879, on page 299. Operations and earnings for five years past were
*s follows:
..
is President, Rondout, N.
Y.
Union Pacific Railway.—This was a
ot the Union Pacific
made under
consolidation, January 24, 1880*
Railroad, the Kansas Pacific irml Denver Pacifio,
authority of the acts of Congress of July 1, 1862
and
July 2,1864. New stock was issued for the old stock of the three com¬
panies, but their bonds remained unchanged. (See Chronicle, V. 30, p.
118.) The Union Pacific was from Omaha, Neb., to Ogden, Utah, 1,034
miles; bridge and approaches to Council Bluffs, 3 miles; Ogden to
Central Pacific Junction, 5 miles; total, 1,042 miles. The roads consoli¬
dated were as follows: Union Pacific Railroad—Council Bluffs to Ogden,
1,042 miles; Kansas Paoiflc Railway—Kansas City to Denver, 639 miles,
Wyandotte Branch, 2 miles, Leavenworth
Branch, 34 miles, Enterprise
Branch, 2 miles, total, 677 miles; Denver Pacific—Denver to Cheyenne,
106 miles; total, 1,825 miles. Branch roads were owned in part, or con¬
trolled by the new corporation, to the extent of 1,597 miles. The company,
under acts of Congress above-named, took a land grant of 12,800 acre*
>er mile, estimated at a total of 12,083,227 acres, and a subsidy in B.
and principal of this loan is to
Aot,” which requires 25 per oent
interest on the first mortgage
bonds, to be paid annually to the Government as follows: FirstApplied directly to interest account, one-half of Government earnings.
Second—To be placed in the sinking fund—the other half of the Govern¬
ment earnings; five per cent of net earnings, after deducting interest on
first mortgage bonds; so much of $850,000 as may be necessary to
make 25 per oent of net earnings. The annual report for 1879 was pub¬
lished in V. bO, p. 270. This company’s reports nave not been aooampanied by a balance sheet, but in the report of the U. 8. Auditor of Rail¬
road Accounts, the following is given as of June 30, 1879:
8. bonds of $27,236,512. The interest
be paid according to the “ Thurman
of the net earnings, after deducting
RAILROAD. STOCKS
54
Subscribers will confer a great favor by giving
explanation of column headings, Ac., see notes
on first page of tables.
•
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
Collateral Trust bonds
Denver Pacific, 1st mortgage, gold, land grant...
Kans. Pac.,cohs. M..,g.(for $30,000,000) ,cp.orrg.
do
1st M.. g, cp., on 140m. west Mo. Riv.
do
1st mort., gold, 140th to 393d mile...
do
2d M.(to U.S.Gov.) on 394m.W. Mo.R.
do 1st,394th to 639th m., l.g., 3,000,000 acs
do
1st mort., coup., (Leavenworth Br.)..
do
Income bds, coup., 3d M.on 427 miles.
do 1st land bds,cp.or rg.,g.,on 2,000,000 acs
do 2d land
do
do
do
Union Pacific, Central Branch—1st mort., gold —
Funded interest bonds (coupons held in trust). ..
2d mortgage (government subsidy)
United N. J. RR. <k Canal Companies—Stock
•
•
•
*•
•
•
....
106
140
253
394
245
34
1866
1866
1870
1871
1866
m
^
....
100
1879
....
’66-7-8
100
379
....
....
-
1871
1871
1871
....
1871
1871
....
$
LIABILITIES.
United States bonds.
27,236,512
Interest on U. S. bonds 18,421,087
Other bonded debt
50,404,000
Interest due and ac¬
crued
* 869,891
Bills payable
3,382,824
..
Accounts
payable
Dividends payable
Capital stock
1,179,021
* 555,953
15,292,000
6,299,000
1,000
£200
2,121,000
1,000
1,000
1,000
1,000
1,000
3,632,000
527,000
....
1,000
1,000
50 &C.
250 &c.
1,000
1,000
1,000
1,000
100
1,000
....
....
....
....
8,450,000
2,240,000
4,063,000
6,303,000
6,379,000
492,000
1,124,150
1,460,000
350,000
1,600,000
187569.
640,000
1,600,000
20,190,400
5,669,000
2,000,000
1,846,000
1,800,000
154,000
841,000
1,700,000
....
do
consol, mort. (sink’g fund after 1880)
N. J. RR. A T. Co., 3d loan due State of N. J
Utah Central—Stock
1st mortgage, gold
Outstanding
....
gold loan, reg
Joint Co.’s plain bonds .T
do
do
Amount
$1,000 $27,236,512
....
ao
-..
1866-9
1874
1867-9
1871
1879
1869
1879
1865
1866
1865-7
1869
427
United Co.’s mortgage, sinking fund,
registered..
sterling loan mortgage, sinking fund
*
....
General mortgage, gold, coupon
do
do
do
dollar loan, mortgage
[Vol. XXX.
immediate notice of any error discovered in tbese Tables.
Miles
Date
Size, or
Par
of
of
Road. Bonds Value.
Union Pacific—( Continued)—
2d mortgage currency (government subsidy).... 1,038
3d
do
on road (2d on land), sinking fund.. 1,038
land grant bonds on 10,514,789 acres
do
do
do
do
BONDS
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
AND
^
.
-
1862
1868
36*2
1870
.
.
....
....
1,000
A8SETS.
$
Road and equipment. .119,758,664
Cash
939,302
Co.’s bonds and stock..
246,594
Other “
“
16,973,847
Bills receivable
U.
S.
transportation
withheld
Accounts receivable...
36,762,300 Operating department.
54,979
8,676,979
2,395,138
866,000
5,000,000
100,000
1,500,000
1,000,000
Rate per
Cent.
6
8
7
8
6
7
6
6
6
6
6
7
7
7
7
6
7
6
Where
Payable, and by
Whom.
A J. U.S. Treas., at maturity.
A S. New York and Boston.
& 0. New York and Boston.
& O. London, L. A S. Fr. Bk.
& J. N. Y., Union Trust Co.
& N. N. Y., Bk. of Commerce.
do
do
& N.
do
do
& A.
do
do
& D.
Stocks—Last
Dividend.
1896 to 1899
g.
g.
g.
g.
J.
M.
A.
A.
J.
M.
M.
F.
J.
g.
Payable *u by transportation.
M. & N. N. Y., Lond. AFrankf’t. May 1, 1899
g.
g.
g.
g.
2*3
6 g.
6
6 g.
6 g.
6
Is6
6
7
3
When
Payable
Bonds—Princi¬
pal,^When Due.
M.
M.
J.
M.
M.
M.
&
&
&
A
A
A
N. N. Y., Bk of Commerce.
do
do
S.
J. N. Y., Lond. A Frankf’t.
S.
New York.
N. N. Y., Company’s Office.
N. N. Y.t Hanover Bank.
U.S. Treas., at maturity.
....
Sept. 1, 1893:
*
1887
April, 1896
July 1, 1903
May 1, 1899
May 1, 1919-
Aug. 1, 1895
June 1, 1896
1895 to ’97
1, 1896July 1, 1916
July 1, 1889
Sept., 1886
May 1, 1895-
Jan
1896,’97, ’98
Q.-J. Phila. and N. Y. Offices. April 10,1889
Mch. 1, 1901
M. A S.
Philadelphia, Office.
A.
M.
M.
F.
M.
F.
J.
M.
A.
A
A
A
A
A
A
A
A
A
do
0.
S.
S.
A.
S.
A.
D.
do
London.
do
Philadelphia.
do
Philadelphia Office.
Princeton, N. J.
Philadelphia Office.
0. N. Y., B’k of Commerce.
N.
Q.-J.
6g. J. A J.
Salt Lake
City.
Oct. 1, 1894
Mch. 1, 1894
Mch. 1, 1894
Feb. 1, 1888
1908
Feb. 1, 1883
Jan. 1,
Nov. 1,
1889
1889
Overdue.
12 p.c., 1878-9
Jan. 1, 1890
miles. It was organized as “ Leavenworth Pawnee & Western” in 1861,.
then changed to “ Union Pacific, Eastern Division,” June 6, 1863, and to
“Kansas Pacific” on March 3, 1869. The Pacific Railroad acts of 1862
and 1864 applied to this road, and gave it a subsidy of $6,303,000 and a
land grant of about 6,000,000 acres. The lands mortgaged were put in
2,000,000 acres in the first, from the first to the 380tn mile
westward, covered by the first and second land mortgages, and from sales:
two trusts,
of these lands there are $1,095,679 land
acres in the second grant, from the 380th
1,313,880 by the Denver Division mortgage.
notes field.
The 3,000,000
mile westward, are covered
The second land grant mortgage,
with the general consolidated
mortgage of May 1,1879, which covers road and lands, and the trustees of
Land cash & land notes
4,565,387 that mortgage (Jay Gould and Russell Sage) hold the following securities
Band sales
Land expenses
1,957,792 for the trust: Funding mortgage bonds, $1,500,000; second land grants,..
$1,400,000; Leavenworth Branch bonds, $108,000; income bonds,
Balance,deficit or debit
to income account...
991,061 $3,151,700; Arkansas Valley bonds, $1,035,000; Solomon Railroad
bonds, $575,000; Denver Pacific bonds, $1,641,000; Denver & Boulder
147,873,627 Valley bonds, $468,000; Junction City & Fort Kearney bonds, $820,147,873,627
000; Golden Boulder & Caribou bonds, $60,000; total, $10,758,700..
*
Including payments to be made July 1,1879.
In funding other bonds into the consolidated mortgage, the old Kansas
iThe securities held six months later, at close of the year 1879,' Pacific
securities are exchanged at par, except as follows: The “ funding
amounted to $7,900,000 bonds and $8,669,400 stocks, given in the
mortgage” bonds get nothing for 5 over-due coupons; Leavenworth
report as follows: Bonds—Colorado Central, $2,413,000; Utah Southern branch and unstamped incomes at 50 per cent and nothing for over-due
and extension, $900,000; Utah A Northern, $2,722,000; Omaha &
interest; stamped incomes at 30 per cent; second land grant at 50 per
Republican Valley, $900,000; Summit County, $134,500; St. Louis cent. The interest on Denver Extension bonds (sevens due May 1,
Council Bluffs & Omaha, $19,500; Wasatch & Jordan Valley, $10,000;
1899) was reduced to 6 per cent. Kansas Pacific operations and earn¬
Omaha Bridge bonds, $5,000; Omaha Niobrara A Black Hills, $480,000;
Utah Western, $16,000; Marysville & Blue Valley, $300,000. Stocks— ings for four years past were as follows:
Net
Passenger
Freight (ton)
Gross
Colorado Central, $3,759,200; Utah Southern, $837,000; Utah Central,
Miles.
Earnings..
Mileage.
Mileage.
Earnings.
$530,000; Utah Northern, $2,330,000; Summit County, $338,100; Years.
Union Pacific, $275,100; Omaha A Republican Valley, $450,000; Occi¬ 1875
672
72,119,554 $3,363,760 $1,572,881
19,292,049
dental & Oriental Steamship Co., $150,000.
672
1,217,9823,000,800
71,540,034
18,232,525
The account of the company with the United States on June 30,1879,
672
1,367,777'
85,393,211
3,284,734
18,936,167
allowed a balance of about $560,000 due the Government taking the Post 1878
672
3,610,224
1,198,662
22,173,135 140,013,144
Office Department allowance for mail transportation.
The Denver Pacific—Denver to Cheyenne, 106 miles—was built under
The land department reports the following sales since 1869:
the charter of the Union Pacific, E. D. (Kansas Pacific), and opened:
Av. Price
Number of
January 1,1871. The Denver A Boulder Valley was opened under a 911
Amount.
Acres.
Years.
per Acre.
year lease from 1873. The company made default, and a receiver waa
$586,808 29 appointed April 4,1878. The stock of $4,000,000 went into this consoli¬
1869
$4 55*3
128,825-28
4
38*3
1870
717,757 14 dation January 24,1880, and the bonds are to be retired with the con¬
164,058-32
3 85*3
795,557 53 solidated mortgage 6f the Kansas Pacific. (V. 28, p. 18, 44, 69, 70, 121*
1871
206,605-97
4 39
1872
755,430 94 147. 199, 252, 275, 328, 429, 453, 477, 495, 503, 555, 578, 599, 624;
172,108-67
5 55
1873
983,030 33 V. 29, p.67,95, 196, 405, 434, 513,657; V. 30, p. 17, 93, 118,163*.
177,083*50
4 66
1874
1,099,407 21 169, 270, 345, 545.)
235,74914
3 66
1875
409,916 10
111,965-55
3 02
Union Pacific, Central Branch.—From Atchison, Kan., to Waterville,
389,773 46
1876
128,696-21
4 98
343,768 02 Kan., 100 miles; "and has an extension under the name of Atchison Colo¬
1877
69,015-87
4 88
1878
318,903-47
1,557,082 32 rado & Pacific of 229 miles, making 329 miles in all, and the bonds*
4 14*10
1879
1,007,855 63 of the extension are guaranteed by U. P. company. The Union Pacific
243,337-43
Central Branch was formerly the Atchison & Pike’s Peak Railroad, and
1,956,349-41
$8,648,447 97 was one of the roads embraced in the act of Congress incorporating tho
$4 42
Union Pacific Railroad. The stock is $1,000,000, of which the Union:
Of the Union Pacific collateral trust bonds, the issue is limited to 80 per Pacific holds about $900,000. The company received a Government
cent of the following bonds: Omaha A Republican Valley RR, $850,000; subsidy of $1,600,000. Default on interest was made May 1,1873, but.
Colorado Central Railroad bonds, $2,526,000; Utah Northern Railroad, no foreclosure took place. In 1879 the earnings on 224 miles were
about $3,480,000; total, $6,856,000. The collateral trust bonds area reported at $1,000,000; operating expenses, $477,862; net earnings,
direct obligation of the Union Pacific Company, and have as their security $522,138. (V. 28, p. 454, 477, 553; V. 29, p. 95,356; V. 30, p. 163,
138,811,589
9,062,038
with various other bonds, are taken up
140,359,386
the first mortgage bonds of the roads named pledged with the trustees.
The excess of interest collected on hypothecated bonds—say $22,000 per
221.)
United New Jersey Bit. <£ Catial Companies.—Lines of road, New York
year—forms a sinking fund to reduce the principal.
The income
account was as below, but no explanation is given of the cost of the to Philadelphia and branches, 123 miles; Camden to Amboy and branches,
immense amount of stocks and bonds owned, which on their par value 152*2 miles; Trenton to Manunka Chuuk and branches, 103 miles; total
are as above, $16,569,400.
operated, 379 miles. Delaware A Raritan Canal, 66 miles. The United
New Jersey Railroad A Canal Companies were leased in May, 1871, to theVet earnings
$7,725,574
Add interest collected on investment securities
423,014 Pennsylvania Railroad for 199 years, at a rental of 10 per cent on the
stock, besides interest on bonds. The smaller leased roads were taken
their several contracts. The Belvidere Delaware was leased to the:
Total receipts
$8,148,588 with
Pennsylvania Railroad March 7,1876, and since January 1,1877, hasbeen operated as the Belvidere Division of United New Jersey Railroad
IHsbursements—
Interest on bonds
$3,390,595 system. The net earnings are paid over to the lessors in full as rental.
Dividends, 6 per cent
2,204,700 The lease has not been profitable in cash receipts to the Pennsylvania
207,444 Railroad, as the net loss in 1877 was $1,482,518 and in 1878 $1,136,Sinking funds
Government earnings retained
1,149,688 775; but the connection with New York was indispensable to the Penn¬
sylvania Railroad, and it is only a question whether it might not have
Total deductions from earnings
$6,952,427 been secured at much less cost. Operations and earnings for five yearsSurplus
$1,196,161 past were as follows:
Passenger Freight (ton)
Gross
Net
Div.
Operations and earnings for five years past were as follows:
Years. Miles.
Earnings.
Mileage.
Mileage.
Earnings, p. ct293 162,225,745 187,699,616 $9,711,284 $3,275,807
lO
Div.
Passenger Freight (ton)
Gross
Net
293 302,188,535 190,635,678 11,824,133
Years. Miles.
5,074,017
lO
Mileage.
Mileage.
Earnings.
Earnings, p.ct.
373 143,132,968 256,134,099
8,960,697
19
2,694,480
1875.. 1,042 132,591,343 269,414,989 $11,993,832 $7,011,784 3*3
373 139,245,413 255,027,095
2,895,592
8,398,534
lO
1876.. 1,042 128,032,924 292,002,076
12,886,858
7,618,647 8
373 146,914,158 332,298,977
3,283,981
9,784,843
10
1877.. 1,042 107,833,371 334,644,870
12,473,203
7,199,782 8
1878.. 1,042
96,304,250 366,014,080
13,121,272
7,744,686 5*3
Utah Central.—From Ogden, Utah, to Salt Lake City, Utah, 36*2 miles,.
879.. 1,042
436,054,149
13,201,077
7,725,574. 6
For the year ending April 30,1879, gross earnings were $392,524; opera¬
The Kansas Pacific extends from Kansas City, Mo., to Denver, Col., ting expenses (43-01 per cent), $168,798; net earnings, $223,725;.
639 miles, with Leavenworth Branch, Lawrence to Leavenworth, 34 interest, $62,290; dividends on stock, $180,000.
=23
Subscribers will
confer a great
favor by giving
DESCRIPTION.
For
explanation of column headings,
on
Utah Northern
first page
of tables.
—1st mortgage
&c., see notes
,
Utah & Pleasant Valley—1st mortgage,
Utah Southern—1st mortgage, coupon
Utah Western—let mortgage
Miles
of
1878
$1,000
62
1879
1871
1874
1,000
75
•
168
87
36
98
31
11
Vennont Central
Missisquoi Railroad bonds
'
guaranteed by
Mortgage bonds..
1874-695.
mortgage,
consolidated.!
73
consolidated
•
•
•
•
Equipment loans
Btanstead, S. & Cliambly bonds
Income and
extension bonds (to pay float’g debt).
Vermont & Massachusetts—Stock
1st mortgage (sinking fund $7,000
Convertible bonds
Vicksburg <£ Meridian—1st series
2d series (blue endorsed)
per year)
(red endorsed) —
(black endorsed)
(not endorsed)
Special loan, funding mortgage
Virginia d* Truckee—Stock
3d
4th
do
do
m
m
80
77
140
140
140
140
•
.
Utah <£ Pleasant
900,000
1,500,000
720,000
1,771,720
100
m
Valley.—Line of road Provo,
1,112,000
1871
500,000
4,000,000
100
800,000
750,000
3,000,000
....
1871
1879
1871
1866
1866
1866-9
1867
1872
....
1865
1872
1866
1866
1866
1866
1871
500
100
100
500
100
1876-90
550,000
150,000
703,500
850,000
145,000
1,000
500 &o.
1,000
1,000
1,180,600
100 &c.
217,400
100 &c.
M. & N.
J. & J.
•
•
•
M. &
J.
pal,When Due.
Stocks—Last
Dividend.
-
July 1, 1908
New York.
New York Office.
N. Y., Kountze Bros.
1904
July 1, 1891
July 1,1894.
(?)
July, 1891
•
Utica.
8.
& J.
M. & N.
Utica and New
York.
Y., D. L. & W.
N.
May 1,
RR.
*
N. Y., D. L. &W.
J. & D. Boston, E. Blake & Co.
J. & J. Boston,Nat.Bk.of Redm
J.
6,000,000
1,101,000
•
& J. Boston, Globe Nat. Bk.
& N. Boston,Nat.Bk of Redm
do
do
& D.
do
do
& N.
do
do
& J.
do t
do
& N.
Boston, Office.
& O.
do
do
& J.
do ’
do
& J.
& J. Phila., Girard Nat. B’k.
do
do
& J.
do
do
& J.
do
do
& O.
do
do
& J.
7
7
7
7
7
8
M.
J.
M.
J.
M.
A.
J.
J.
J.
J.
J.
A.
J.
1
M’nthly
7
8
3
6
444,100
100
100 &c.
Whom.
& J.
’ J.
Bands—Princi¬
Payable, and by
Payable
8
1,508,600
2,860,000
1,000
Utah, to Pleasant Val
7
7
7
3,000,000
1,500,000
1,500,000
&c.
&c.
Where
When
Tables.
1879
1880
1, 1872
July 1, 1891
June
.
(?)
500,000
&c.
&c.
&c.
earnings
8
1,500,000
500 &c.
•
Jan. 1,
Nov. 1.
1891
1886
1891
1876 to
1889
Jan. 1, 1887
1902
April 7, 1880
July 1,
July 1,
Jan. 1,
Jan. 1,
Jan. 1,
Jan. 1,
1883
1885
1890
1890
1890
1890
1880
• •
Vt., to Rouse’s Point, Vt., 47
Burlington, Vt., 8 miles; Swanton, Vt.,.
to Canada line, 10 miles: total, 65 miles. This road has been mixed up
inextricably with the Vermont Central, by which it was leased ana
operated, and the bonds of 1871 were guaranteed by the Vermont
Central. In 1879 the stockholders voted an issue of $500,000 new
bonds to take up those guaranteed bonds.
No satisfactory report or
information is obtainable. Bradley Barlow, President, St. Albans, Vt
Vermont <& Canada.—Essex Junction,
miles; branches—Essex, Vt., to
1879. Stock, $750,000. Bonds sold
(V. 29, p. 539; V. 30, p. 163.)
City to York, Utah, 75 miles. Stock,
ley, Utah, 60 miles. Road opened in
in New York at 90 in February, 1880.
7
7
7
7
2
7
7
3
7
4
4
$3,888,000
•
•
north into Idaho
March,
1880. The
built
Transferred to present
road is gross
mainly owned
Northern.—In progress from Ogden, Utah,
Territory. Two hundred and seventy-five miles
road was sold in foreclosure March 28,1878.
company May 1, 1878. Stock, $2,520,000. The
and built by the Union Pacific. For the year 1879 the
were $532,676; net, $262,277.
«,
Utah <£
Rate per
Outstanding
Cent.
54
54
:
Bonds
m
Amount
1,000
73
Bonds,
Vermont Central— 1st
2d mortgage,
Par
274
•
1st mortgage
Utica Chenango & Susquehanna Valley—Stock
Utica Clinton d• Binghamton—1st mortgage
Valley (N. Y.)—Stock
Vermont &■ Canada—Stock
Size, or
Date
of
Road. Bonds Value.
gold
Utica <6 Black River— Stock
Mortgage bonds, 2d issue
Black River & Morristown,
Immediate notice of any
error discovered In these
INTEREST OR DIVIDENDS.
—(V. 29, p. 452;)
.—Windsor, Vt., to Rouse’s Pointr
273 miles, included in the re¬
Other leased line, New Lon¬
Utah Southern.—Salt Lake
has
been through more com¬
$1,125,000; gross earnings in 1878, $247,725; net earnings, $117,534. plicated and vexatious litigation than any railroad in New England.
Bonded interest, $105,000.
Poor's Railroad Manual of 1879 gives the following accoimt of it:
This company (Central Vermont) was chartered under its present title,
Utah Western.—Salt Lake City, U. T., to Stockton, U. T., 40 miles. November 2, 1872. ,yiie Vermont Central Railroad Company was
Opened January, 1875. Default was made January 1, 1878, and the chartered October 31, 1843, and the road opened to Burlington
road is held by trustees for the bondholders, and is to be foreclosed.
August 24, 1849, it leased the Vermont A
December 31, 1849.
No report of earnings. LeGrand Young is President, Salt Lake City.
Canada Railroad, then under construction, agreeing to pay an annual
E. F. Bishop, Bridgeport, Conn., and R. M. Bassett are trustees for the
rental of 8 per cent on its cost, and creating a mortgage on their own
bondholders. (V. 30, p. 651.)
road as security for such payment. This lease has been the subject of
Utica <& Black River.—Main line, Utica, N. Y., to Philadelphia, N. Y., almost continual litigation since 1854. The Vermont Central R^lroad
87 miles; leased lines to Morristown, N. Y., to Ogdensburg, to Sackett’s Company having defaulted on its interest and rental, the trustees under
Harbor and to Clayton, 93 miles in all; total operated, 180 miles. The the lease took possession of the road June 28,1852, and it has ever
On the first
oompany has paid its rentals and moderate dividends for a number since been operated by them under direction of the court.
of years. The general account, September 30,1879, was as follows, of January, 1871, a lease was taken of the Rutland Railroad and its
leased line, the Addison Railroad, the lessees agreeing to pay $376,000
•onaensed:
year, and in addition $40,500 a year for four years y- $67,500 for two
Stock
*$1,771,720 per
$81,000 per year for six years, and $94,500 per year thereafter.
:
1,112,000 years;
Bonds
contract was modified February 25,1876, as hereafter stated. In
54,735 This
Sundry accounts and balances
1861, a lease was also taken of the Sullivan County Rail¬
Surplus fund.
- 180,750 September,
road of New Hampshire, at an annual rental of $25,000, but subse¬
quently modified so that the rental depends on earnings. About 1867
managers of the Vermont Central Railroad purchased the Stanstead
Total
$3,119,206 the
Shefford & Chambly Railroad, extending from St. Johns, P. Q., 43 miles,
.
Road and equipment
$2,797,586
to Waterloo., P. Q., paying therefor $500,000 in bonds. They also took a
Leased lines, stocks, bonds and advances
> 292,378
lease of the Missisquoi Railroad. The road from Canada Line to St.
Sundry accounts
10,707
is also operated by this company, and is practically a portion of
18,530- $3,119,206 Johns
Cash
it, though chartered by the Provincial Parliament under the title of Mon¬
Income account:
treal & Vermont Junction Railroad Co. The Vermont & Canada Rail¬
extends from Essex Junction to Rouse’s Point, with branches from
Net earnings
$190,485 road
-.
to Burlington, and from Swanton to Canada line, in all 65 miles.
Premium on bonds
1,732 Essex
The 47 miles from Essex Junction to Rouse’s Point are included in the
of the Central Vermont RR.” The road is managed by a board
Total
$192,217 mileage
of trustees appointed by the Chancery Court of Vermont. J. Gregory
Interest
$77,840
Smith is President. -In the two years, 1876-78, the gross earnings were
67,166
Rentals
$4,076,702, and net earnings, $1,461,139. The foreclosure suit has been
Dividend, 2 per cent
35,416— 180,422 pending
a long time on the second mortgage.
Vermont <£ Massachusetts.—Line of road, Fitchburg to Greenfield,
$11,794
Balance, surplus
168,955 Mass., 56 miles; branch, 3 miles; Vermont division from Miller’s Falls,
Add surplus, Sept. 30, 1878
Mass., to Brattleboro, 21 miles; total, 80 miles. The road is leasedto the
RR. for 999 years at 6 per cent. The Vermont section ia
Surplus, Sept. 30, 1879
$180,750 Fitchburg
operated under lease for fifteen years from December 1,1870, by the
London Northern Railroad; lease rental, $48,000 in 1880 and
The surplus is chiefly represented by advances to leased lines. It was
Teemed best to retain the cash part of it to meet emergencies, instead of $54,000 per year afterwards. But in May, 1880, it was sold to New
increasing
Vermont Central (or Central Vermont)
Vt., 158 miles; branches and leased lines,
turns of the Vermont Central Company.
don & Northern, 100 miles. This company
“
ew
ditfidend.
extension is doing well, and
Operations and. earnings forDiv.
five
The Ogdensburg
promises to be a good investment.
Net
years past were as follows:
Gross
Passenger Freight (ton)
Earnings. Earning
Mileage.
Mileage.
Years.
Miles.
5,294,353 $484,856 $233,11
5,593,083
148
194,301
481,673
5,150,374
5,792,703
170
220,261
453,576
5,065,167
5,336,245
170
239,292
453,145
5,205,965
5,266,280
170
190,485
475,508
p.
ct.
...
—(Y. 28, p. 96;
V. 29, p. 536.)
&
o &
Utica Chenango
Susquehanna
Susqu
-
Y., to
Richfield Springs, 22 miles; total, 98
Leased to Delaware Lackawanna
no bonded debt. Gross earnings,
Utica,
Valley.—Line
of road,
N.
hfl<
‘
"
“
~
Hreen, N. Y., 76 miles; branch to
miles. Road opened October, 1872.
A Western at 6 per cent on stock. Has
1878, $396,696; net earnings,
deficit,
$180,989.
Utica Clinton &
31 miles. Opened
$139,010; dividend payments, $240,000;
Binghamton.—Utica, N. Y., to Smith’s Yalley, N. Y.,
June 22, 1872, and leased to New York <fc Oswego
transferred to the Delaware & Hudson
of $75,000 per annum. The road is
by the Delaware Lackawanna & Western. Gross earnings in
$69,873; net earnings, $11,999. O. S. Williams, President,
Midland Railroad. The lease was
Canal Co., which pays the rental
operated
1877-78,
Clinton, N. Y.
Railroad.—Binghamton, N. Y., to State line of Penn¬
sylvania, 12 miles. Opened October, 1871. Leased to Delaware Lacka¬
wanna <fe Western.
Gross earnings in 1878, $141,792; net earnings,
Valley (N. Y.)
^62,227. Dividends paid, $60,000.
Moses Taylor, President, New York
London Northern.
(V. 30, p.
600,)
Meridian.—Line of road—Vicksburg to Meridian, Miss.
unable to earn full interest, but has paid so far as
earned. It lias a land-grant of about 400,000 acres, of which about
200,000 have been certified, and about 40,000 acres sold. Common
stock, $357,407; preferred stock, $1,042,517.
Vicksburg d
The company
has been
Gross
..
BALANCE SHEET
Road and
OF GENERAL
LEDGER, FEB.
stock
equipment.. .$3,046,563 Capital
Preferred stock
to Mli
—
landing front
—(V. 30, p.
543.)
Funded debt
Bills
payable
Land scrip
Total
$105,829
123,364
70,314
129,389
29, 1880,
$357,407
Cr.
1,042,517
3,135,522
41,445
839
$4,577,739
Virginia, Nev., 52 miles; branclk
miles; total, 54 miles. Road
in 1878 were $1,604,442; net,
D. O. Mills, President, San Fran¬
Virginia <6 Truckee.—Reno, Nev., to
line, Silver Junction to Silver City, 2
opened November, 1869. Gross earnings
$725,092; dividends paid, $750,000.
cisco.
$411,685
430,428
329,175
424,389
Dr.
50,100
Extension tonnage dues
60,009
Bills receivable
38,185
Profit and loss
1,294,330
Total
$4,577,732
Miss. Riv.
earnings. Net earnings.
Subscribers will confer
a
great favor by giving immediate notice of
any error discovered in these Tables.
DESCRIPTION.
Miles Date Size, or
explanation of column headings, &c., see notes
of
of
Par
on first
page of tables.
Road. Bonds Value.
Fo
Wabash St. Louis <£ Pacific—Stock, common
Preferred stock, 7 per cent, (not cuumulative)
Consolidated mortgage (for $50,000,000)
Wabash, 1st mort. (Toledo & Illinois)
do
1st mort. (Lake Erie, Wab. Sc St.
L.)
do
Istmort. (Great Western of 1859)
do
1st mort. (Quincy Sc Toledo).
do
1st mort. (Illinois & Southern Iowa)
1,720
100
-
do
,
.
75
167
180
33
29
75
167
180
490
109
2d mortgage (Toledo & Wabash)
2d mortgage (Wabash Sc
Western)
2d mortgage (Great West, of
1859)
Consol. M., (on all but Dec. & E St.L.)..
1st mort., (Decatur <fc E. St. Louis)
Funded debt bds (sec.by dep’sit of
coups.)
New M., gold. s. f. $25,000 after ’82
do
do
.....
do
do
do
do
do
Seney mortgage
Hannibal & Naples, 1st
mortgage
St. L. K. C. &No., 1st mort.
(North Missouri)
do
real estate & railway 2d mort...
......
.
600
50
354
354
.
146
do 1st mort.. gold, Clarmda Branch
Toledo Peoria & Warsaw, 1st
mortgage
do
do
1st income bonds,
do
do
2d income bonds
Ware River— Stock (guaranteed)
Warren (N.J.)—Stock
2d mortgage
1st consol, mortgage
Wasatch & Jordan Valley - Gold bonds
3642781
.
22
Outstanding
c
.
.
.
....
1853
1853
1863
1865
1862
1858
1858
1859
1867
1869
1877
1879
1877
1879
1865
1874
1878
1879
1879
227
18
1,000
1,000
1,000
1,000
1,000
12
310
mortgage, O.& A., and funded interest
2d mortgage, O. & A.,
do
do
1855
1870
1875
1873
1871
....
1,000
1,000
1,000
2,942,450
1,000,000
1,000
620,000
500,000
....
1,000
1,000
1,000
Camp Point
to
Quincy, operated jointly with C.
Elvaston,Ill.,to Hamilton, 111., op.
B. &
1,000,000
750,000
680*59
97*00
Total operated
:
1,915*48
| In January, 1880, the Sycamore &
Cortland, 5 miles, and East St.
Louis & Carondelet, 9 miles, were
acquired.]
MORTGAGE DEBT.
Mortgage debt of
“
“
Wabash Division
Missouri
“
$22,272,450
12,995,500
Total
$35,267,950
CAPITAL STOCK AND DEBT.
Mortgage debt,
Preferred stock
Common stock
as above
$35,267,950
=.
20,000,000
:
20,000,000
Total
—The total fixed charges of the Wabash
St. Louis & Pacific
will be as follows:
Wabash
“
Missouri
“
Division—Mortgage interest
“
Rentals leased lines
750,000
600,000
884,000
540,000
7
7
7
6
2,692,539
525,070
1,657,652
..
Railway Co.
& A.
& N.
& N.
Sc N.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Nov. 1, 1890
Aug. 1, 1882
do
Nov. 1. 1878
Nov. 1, 1878
May 1, T893
Feb., 1907
do
do
do
do
do
do
do
do
F.
F.
A.
J.
J.
J.
M.
A.
A.
J.
Sc
Sc
&
&
&
&
&
&
&
Sc
J.
A.
A.
M.
M.
J.
Sc J. Boston, Bost.& Alb. RR.
& O. N.Y., Del., L. & W. RR.
& O.
do
do
Sc S.
do
do
& N. N. Y., Union Trust Co.
& D. Baltimore, Balt.& O.RR.
A.
A.
0.
J.
D.
J.
S.
O.
1920
Aug. 1, 1890
Aug. 1, 1890
Aug., 1888
Aug., 1889
Feb.
1,
April 1,
Ian., ’81
June 1,
1907
1909
Sc ’82
1909
N.Y.,Nat Bkof Com’rce July 1, 1895
do
do
Sept. 1, 1904
O.
D.
do
do
do
do
do
do
Oct. 1. 1908
April 1. 1919
Aug. 1, 1919
Jan.
1, 1880
April, 1880
April 1, 1900
1903
.
6
6
M. & N. Balt., R. Garrett & Sons
J. & J.
do
do
Jan.
1, 1875
In estimating the business of
1880 the additional earnings of
newlyacquired lines should be included. See estimate in
Apr., 1880, Y. 30, p. 409.
Preferred stock of the new
company
was issued for preferred stock of
the St. IiOuis Kansas
City Sc Northern, and for one-half of Wabash stock;
common stock of new
company wras issued for the St. Louis Kansas City
& Northern common and for oil
e-half of Wabash stock. The Trustees of
the consol,
mortgage for $50,000,000 are the Central Trust Co. of N. Y.
and James
Cheney of Indiana. Of the Wabasn funded debt bonds,
$1,958,355 carry 5 per cent in 1879-80 and 6
per cent
thereafter;
the balance are 7 per cents. First
mortgage on St. Charles Bridge
is for $1,000,000, aud is 7
per cent for 3 years and 8 per cent for 27
years.
See V. 30, p. 249. (V. 28,
p. 200, 224, 253, 275, 299,
354,402,429,495, 554, 600, 617; V. 29, p. 19, 42, 86, 121, 147, 350,
171,
408,460,513,553; V. 30, p. 118, 170, 249, 264, 358, 409,
434,494,520,568.)
226, 278,
Toledo Peoria Sc Warsaw.—Line of
road, Warsaw, Ill., to State line,
Indiana, 227 miles; branch to Burlington,
Iowa, 20 miles; total
operated, 247 miles. The company made default
December, 1873, and
was operated
by a receiver until sold in foreclosure on
January 20,1880.
It was purchased
by' a committee of bondholders
representing about
$6,000,000. Subsequently it was consolidated with
the Wabash St.
Louis & Pacific on terms
reported as
Pacific guarantees 7 per cent on the follows, viz.: That the Wabash
$4,500,000 first mortgage bonds
of the Toledo Peoria Sc
Warsaw. The $2,900,000 income bonds to be
guaranteed at least 4 per cent net
earnings, or the holders thereof can
exchange them at par for Wabash Pacific
preferred stock.
The
$1,000,000 second income bonds to be
exchanged for Wabash common
stock, share for share. The $3,000,000
common stock of the Toledo
Peoria & Warsaw to be
exchanged at the rate of three shares for one of
the Wabrtsli common
stock, making $1,000,000 additional. This scheme
would involve the issue of
$2,900,000 of Wabash preferred and
$2,000,000 common stock. No satisfactoiy
reports of earnings have
been issued of late
years.
In 1878, gross earnings were
reported at
$1,358,290; net earnings, $472,411; rental, $42,500; hire
of cars,.
$185,278 ; taxes, ' &c., $68,902. (V. 29,
p. 68, 383, 408, 539, 608, 632 ;.
V. 30, p. 93, 170, 249,
434, 651.)
Ware River.—Palmer,
Mass., to Winchendon, Mass., 49 miles. It is
leased to the Boston &
Albany
Railroad at a rental of 6\ per cent per
annum.
I. A. Rumrill,
President, Springfield, Mass.
Warren, N. J.—Line of road, New Hampton Junction to Delaware
Bridge, N. J., 18*4 miles. The road is leased to Delaware Lackawanna
& Western at 7 per cent on stock
and bonds.
Gross earnings, 1879,
$4P0,040; net earnings, $313,198; interest paid, $92,698;
dividends,
$126,000.
Wasatch <£ Jordan
Valley.—Brigham City, U. T., to Alta City, U. T.,
44 miles.
In 1878 the
Bingham Canon & Camp Floyd was merged
in this. For three years,
1876-7-8, the average net earnings were
$131,186 per annum. The stock is $1,100,000.
M.
C.
Washington City <£ Point
Md., 13 miles.
$1,519,904
378,980
907,045
Rentals of leased lines,
bridges, &c
York.
Y., Metropolitan B’k.
$75,267,950 dent, New York City.
Division—Mortgage interest
“
Dividend.
•
21*77
6*48—1,137*89
Louis to Kansas City
277*00
Branches—
From Ferguson, Mo., to St.
Louis, Mo
:.
3 0 46
From Salisbury, Mo., to
Glasgow, Mo
15*13
Omaha Extension—Brunswick,
Mo., to Council Bl,. Ia.. 225*00
St. Louis Ottumwa Sc
{Cedar Rapids Railwaj*, from
Moberly, Mo., to Ottumwa, Ia
131 00
Clarmda Branch
22 00—
Leased Lines—
Boone County & Booneville
Railway—Centralia, Mo.,
to Columbia, Mo
21*00
t. Joseph Sc St. Louis
Railway—Lexington, Mo., to St.
Joseph, Mo
76*00—
3*2
3*2
1,800,000
....
100
7
7
7 g.
7 g.
6 g.
7
4
2,900^000
New
& A. N.
& A.
& A.
& N.
Q.-F.
4 to 6 & 7
7 g.
7
7
264,000
....
7
7
7
7
4,500,000
....
F.
F.
F.
M.
F.
M.
M.
M.
/
2,350,000
100
100
....
-
2,993,000
1,388,500
1,000
1,000
1,000
looo
93*00
93*84
Q
\
1 Stocks—Last
....
7
7
7
6,000,000
1,000
259*50
St. Louis Kansas City A Northernjointly with T.P.&W.
Railway,Jproper—St.
Payable, and by
Whom.
....
7
7
2,700,000
500 &c.
Wabash St. Louis <£ Pacific—A consolidation of
the Wabash Railway
■with the St. Louis Kansas
City & Northern, November 1,1879. A full
statement as to the consolidation was
published in the Chronicle of
January 31, 1880 (V. 30, p. 118), from which the
following is taken: At
Decatur, Ill., a part of the Wabash Division extends
to Hanni
bal, Keokuk, and Quincy, on the Mississippi River. westerly
At Bement, Ill., a
branch called the Paducah
Extension, now in process of construction,
and nearly completed to
Chicago, will open a short and direct line
between that city and St. Louis. The
various lines now merged in one
corporation make up a grand total of 1,915*2
miles, as follows:
Wabash, main line and branches—Toledo, O., to St. Louis
and Hannibal
058 30
Leased Lines—
t
Railway—Logansport, Ind., to Butler, Ind
Where
Payable
6
500,000
300,000
1,000,000
1,500,000
2,500,000
2,610.000
250 &c.
100 &c.
1855
Chicago & Paducah Railway—Strawn to Chicago
Quincy Missouri & Pacific—Quincy, to Milan, Mo.
Eel River
When
....
2,495,000
^
....
1st
Rato per
Cent.
19,760,100
(?)
900,000
2,500,000
.
49
18
18
INTEREST OR DIVIDENDS.
$100 $19,588,500
..
.....
Amount
144,795
more
&
Ohio
$1,000,000.
This road
for
was
$36,000
Same officers
as
Lookout— Hyattsville, Md., to
Shepherd,
opened in 1873. It is leased to the Balti¬
gold per annum. The stock paid in is
Baltimore & Ohio Railroad.
Washington City Va. Midland
andria,
Scofield, Presi¬
<& Great
Southern.—Line of road, Alex¬
Va., to Danville, N. C., 238*2 miles.
Making in the aggregate
Branches—Manassas Junc¬
$2,950,724 tion to Strasburg, 63 miles; Warrenton Junction to Warrentou, 8*2 miles;
—The additional equipment
to
Strasburg
Harrisonburg (leased to B. Sc O.), 49 miles; total of all lines,
provided and to be delivered
during the 359 miles. A consolidation
year 1880 will require a further outlay of about
1872) of the Orange Alexandria
$500,000, payable in & Manassas and Lynch’g &(November,
instalments. This sum is chargeable to
Danville railroads.
The Orange Alex¬
construction
and
account,
will
andria & Manassas was a consolidation
(June
Alexandria and the Manassas Gap. Between 1,1867) of the Orange &
Gordonsville &
COMBINED EARNINGS OP THE TWO
ville, 22 miles, the Chesapeake & Ohio Road is used for aCharlottes¬
OLD DIVISIONS.
rental of
Of the earnings of years prior
$30,000.
The
company
was
to 1879, the following statement is made:
put into the hands of a receiver July 1,
1876, interest being m default, and was sold in foreclosure
May 13,1880.
The Baltimore Sc Ohio has
Earnings.
Expenses.
large claims against the company for coupons,
Net.
etc.; but a plan of reorganization is in
$8,872,527
progress
which
will
be agreed to
$6,442,334 ' $2,430,173 by all interests. This
proposes: The interest on the first and second
8,485,792
6,524,827
1,960,965
Orange & Alexandria from July 1,1879, to July
7,644,328
1,1880, is to be funded
5,722,994
1,921,324 in the new bonds to be issued. Interest
T875
on the third
6,648,106
5,610,310
Orange & Alexan¬
dria
is 6 per cent after the
1,073,796
expiration
of
five years. The interest on the
7,554,088
5,488,937
2,065,151 fourth Orange Sc Alexandria bonds is to
be 3 per cent for the first ten
7,733,088
5,421,916
2,311,172 years, 4 per cent for the next ten
1878.*
8,322,867
years, and 5 per cent for the remain¬
5,451,941
2,870,926 ing twenty years. The mortgage to
be made to secure the new bonds,
The fixed charges, or interest and
rentals, include the amount to be issued in lieu of the Orange Alexandria Sc Manassas and Manassas
Gap bonds, is to cover all the interest of the new
earnings of which are not embraced in of the road from
tie statement, viz.:
company in the leaso
Strausburg to
Ohio Railroad Company, thus Harrisonburg, made by the Baltimore <fc
Chicago & Paducah Railway and extension
pledging the rental of that road to the
259 miles. payment of the
Quincy <fe Missouri Pacific Railway
interest upon this class of new bonds. The
;
interest upon
98
“
the new bonds issued in lieu of the
Eel River
Lynchburg & Danville bonds is at
“
94
the rate of 4 per cent for
Omaha Extension
eight years. The common and preferred stock
143
“
of the companies is to be
Clarinda Branch
represented by stock of the new company*
22
u
upon a basis of $100 stock of the new for
$500 stock of the old com¬
eventually increase the funded debt of the
company.
Said on the following lines, the
616 miles.
panies. The new road to be constructed
by the Charlottesville & Rapidan Railroad Company, from
Charlottesville to Orange Court House, i»
KAILROAD
June, 1380. J
Subscribers will confer
STOCKS
AND
BONDS.
great favor by giving immediate notice of any error discovered in tliese Tables.
a
DESCRIPTION.
For
explanation of column headings, &c.,
on first page of tables.
Wash.
see
Miles Date
of
of
Road. Bonds.
notes
Size,
or
Par
Value.
....
....
....
336
Lynchburg & Danville, 1st inert., guar., coup
Westchester d Philadelphia—Preferred stock
1st mortgage, new
West Jersey—Stock
Loan of 1883, guaranteed by Camden & Amboy..
1st mortgage loan
65*2
27
128
60
38
1875-96
63
128
116
44
160
138
90
90
90
90
90
90
90
60
.
..
1st mortgage,
1858
$....
1867
1873
1871
....
500 &c.
....
....
1S71
100 Ac.
50
....
1861
1866
1869
1879
1866
1868
1870
1873
1858
1858
1867
1867
1868
1870
1872
500 «&c.
500 Ac.
500 (fee.
500 Ac.
....
....
....
500
100
500
500
500
500
500
500
&c.
&c.
&c.
&c.
&c.
&c.
&c.
&c.
130
57
1863
28
1865
Pittsburg Branch
....
62
•
•
....
to be co vered by all the mortgages except the mortgages to secure the
new bon ds issued in lieu of the
Lynchburg & Danville bonds. The new
company is to assume the lease of the Franklin & Pittsylvania Railroad
Company, and all interest in the lease is to be covered by a mortgage
made to secure the new bonds issued in place of Lhe Lynchburg & Danville bonds. The trustees are authorized to borrow such sums of
money
as may be needed for the purchase of the road and the other
purposes of
the trust upon the credit of the property which they purchase. Vacancies
in the board are to be filled by the trustees. A full statement of the
company’s liabilities and earnings was given in the Chronicle of
January 18,1879 (V. 28, p. 70), which contained the following state¬
earnings and expenses and the interest charge for which
ment of the
each section
was
primarily liable:
1877.
Net
Alex. & Lynchburg
Manassas Div
Interest
Receipts.
Expenses.
Income.
$736,805
$521,503
$215,302
$284,031
72,050
100,941
90,671
5,051
143,433
117,000
$693,991
$311,024
$894,405
$615,000
190,421
133,291
$279,405
75,000
113,000
$284,031
115,421
20,291
143,433
117,000
$1,218,117
$803,000
$415,117
Div
Lynchburg & Danville Div.
Total
Primary
162,721
105,992
$1,005,518
Charge.
1878.
Alex. & Lynchburg
Manassas Division
Div
Lynchburg & Danville Div.
Total
A summary of the whole plan of reorganization was published
in the
Chronicle of July 19, 1879 (V. 29, p. 68). In January, 1880, a bill was
introduced in the Virginia Legislature to enable the company to reor¬
ganize, and in February
a decree of sale was made, the road to be sold
May 13, 1880. (V. 28, p. 70, 147, 555; V. 29, p. 19, 68, 96, 303, 331,
383; V. 30, p. 193, 289, 345, 520.)
Westchester d Philadelphia.—Line of road—Philadelphia to West¬
chester, Pa., 26 miles. In May, 1880, the Philadelphia Wilmington &
Baltimore purchased two-thirds of the stock at par. and guaranteed the
bonds. Gross earnings, 1877-78, $312,486; net, $146,127. (V. 26, p.
116; V. 30, p.545.)
*
Jersey.—Main line—Camden to
Millville and Bridgeton, 59
miles; leased lines, 69 miles; total, 128 miles operated. The company
holds as assets $679,100 of various stocks and bonds.
In 1879 the
rentals of Swedesboro Railroad and Salem Railroad were $30,561 more
than their net earnings; the net profits over interest and rentals on
entire line were $55,873. The operations for three
years past were:
Passenger
Mileage.
14,523,873
Freight (ton)
Gross
Net
Mileage.
Earnings.
$595,025
Earnings.
$203,595
3,796,067
3,624,708
15,386,915
16,674,109
-(V. 30, p. 431.)
5,217,286
541,678
586,178
202,985
253,812
earnings have been
Bona*—mint lpal.When Due.
Stocks—Last
Dividend.
2
6
6
7
6
8
123,500
300,000
600,000
1,158,000
736,000
200,000
400,000
300,000
300,000
600,000
875,000
1,000,000
500,000
.
800,000
1,000,000
1,200.000
1,300,000
8
8
10
6
6
6
6
6
6
6
7
7
>
M. &
M. A
J. &
J. &
M. &
A. &
J. (fe
A. &
F. *k
M. &
J. &
A. &
M. &
J. &
A. &
A. A
N.
S.
J.
J.
N.
0.
J.
0.
do
do
do
do
do
do
.Tiilv
1
1 QQO!
May 1, 1903
April 1, 1896
Jan. 10, 1880
do
do
April 1, 1891
A. Phila., Pa.RR.Co. Office Nov.
17, 1879
S.
do
‘
do
Mch., 1883
J.
do
do
Jan., 1896
Philadelphia, Office.
O.
do
do
N.
do
do
J. New York & Savannah.
O.
do
do
0.
do
do
Oct.,
1890
Nov., 1909
July, 1881
Oct. 1. 1888
Oct. 1, 1890
Atlanta, Co.’s Office.
Q-J.
Oct. ’79 to ’91
J. & J. Bait., N. Mechanics’ B’k Jan.
1, 1890
J. & J.
do
do
Jan. 1, 1890
J. & J.
do
do
Jan., 1890
J. & J.
Hagerstown.
Jan., 1890
J. & J. Balt.,N. Mechanics’ B’k
Jan., 1895
J. & J.
do
do
Jan., 1900
J. & J.
do
do
Jan., 1902
7
6
A. & O.
6
7
J. & J.
A. & O.
....
Balt., R. Garrett & Sons May 1, 1873
do
do
Sept. 1, 1880
do
do
July 1, 1880
Mav
*
‘
Philadelphia, Office.
do
do
do
do
1
1890
April 1, 1893
Jan. ’ 1, 1896
Oct. 1, 1901
*
amicable adjustment has been made with the pre¬
a mutually satisfac¬
tory funding scheme. Under this arrangement, the overdue coupons upon
$390,000 of the $421,500 of these bonds held by individuals have been
funded, and it is expected the balance, principally held in Carroll
county, will be funded by Jan. l.the time at which the company has
agreed to resume the payment of interest upon all such bonds
ed in the funding certificates. The finance commissioners of represent¬
Baltimore
city have funded $113,475 first mortgage and $112,455 preferred
second mortgage coupons. The old funding certificates for
$177,596 of
first and preferred second mortgage coupons issued in
1870, and bearing
8 per cent interest, fall due July 1,1880. A number of the
principal hold¬
ers of these have been consulted, and all seem
willing to renew at maturity
at 6 per cent. The arrearage of interest due the
city on the $72,000
first mortgage coupons, purchased in 1874, will be
provided for by in¬
stallments as early as practicable. Once able to pay the interst
upon its
first and preferred second mortgage bonds and
funding certificates, witk
the arrears above mentioned disposed of, all the other bonds
being en¬
dorsed by Baltimore city and Washington county, the
company will be
relieved of the expensive litigations and the uncertainties
which have
harassed it from its ineeptien to the present
time, and the day for such a
condition can no longer be remote.
“
Contrary' to expectation, the Baltimore & Hanover Railroad has not
yet been completed to its connection with this road, though it is now
expected to be in operation within the next thirty days. With tho
present completed line of 60 miles, including the Hanover & Gettysburg,
Hie controlling road, and without further extension northward from
Hanover, as it is contemplated at an early day, this route will give the
towns of Hanover, Gettysburg, New Oxford, Berlin, and
many others of
minor importance, together witli a large scope of
thickly-settled and
highly-improved country, much more direct communication than here¬
tofore enjoyed with Baltimore, their natural market, and in
using 20
miles of the Western Maryland Railroad between
Emory Grove and
Baltimore, it is believed that the traffic from this source will largely
increase the revenues of this company without
materially adding to its
expenses.
The Baltimore & Cumberland Valley Railroad was also
expected to be in operation by this time to the towrn of Waynesboro, Pa.,
seven miles distant from Edgemont, its terminus on the
Western Mary¬
land Railroad. The grading, masonry and
bridging upon this section are
now entirely finished to the town, but the date of final
completion has
been made uncertain by the difficulty
experienced in obtaining rails of
the required quality, all mills of good standing
being overrun with
orders for months to come.
There is a prospect, however, that this
difficulty may be speedily overcome. If so, this track can be completed
within thirty days from the time the rails are delivered. This seven
miles is but the entering wedge to a line which, when further
prosecuted,
must prove-of incalculable benefit to this
company, and must restore to
Baltimore much of her long-lost trade with the Cumberland
Valley.”
The operations for five years have been as follows, but in 1878-79 the
construction account was closed and all expenses charged to
operating
expenses, on which basis net earnings in 1877-78 would have been
$57,056 instead of $129,927.
Passenger
Gross
Freight
Net
Mileage.
Mileage.
Earnings.
Earnings.
1874-75
6,140,713
$293,718
$99,298
1875-76
6,737,061
4,631,932
311,902
96,346
1876-77
6,582,241
4,692,089
332,086
112,145
1877-78
7,411,061
5,180,982
347,202
129,927
1878-79
8,502,388
5,469,519
347,442
73,095
—(V. 28, p. 97, 121, 147, 454; V. 29, p. 458.)
ferred 2d
year an
mortgage bondholders, by the adoption of
....
as
follows:
Gross
Earnings.
$491,458.
'467,597
..
7
1,000,000
“During the
8
8
7
7
7 g.
6
2
1,000,000
....
Western Alabama.—Line of road—Selma to Opelika, Ala., 116 miles;
branches, Opelika to West Point, 22 miles, and Opelika to Columbus, 29
miles; total, 167miles. Was a consolidation in 1870 of Montgomery &
West Point and Western of Alabama. Sold
May 10, 1875, in foreclosure,
and purchased jointly
by the Georgia Railroad and Central Railroad of
Georgia. The old stock and income bonds were wiped out in the fore¬
closure, and the property is represented by the bonded debt and $361,005
due each of the above companies. There are also
$45,000 second mort¬
gage 8s of Montgomery & West Point RR. due May 1, 1888. The
gross
and net
.
850'000
500 &o.
100 *&c.
....
...
1,200,000
1,650,000
133,050
1,000,000
1,310,000
821,300
1,100,000
1,359,750
400,000
lOOjOOO
-
General mortgage
White Water—Stock ($325,000 of it pref.)
1877
1878
1879
Outstanding
Rate per When Where Payable, and by
Cent.
whom.
Payable
$817,800
1860
....
1st
do
consolidated
Consolidated mortgage
Western (Ala.)—1st mortgage (Mont. & W. P.)
Western RR. bonds, before consolidation
2d mort..guar. by Cent, of Ga.and Ga. RR. (feB.Co.
Western d Atlantic (Ga)—Income bonds
Western Maryland—1stmort., endorsed Balt. City..
1st mortgage, unendorsed
2d
do
endorsed by Baltimore
2d
do
endorsed by Washington County
2d preferred mortgage, unendorsed
3d mortgage, endorsed by Baltimore
4th
do
endorsed by Baltimore
Western Minnesota—1st mortgage
1st mortgage land bonds.. .7.
Western North Carolina—1st mortgage
Western Pennsylvania—1st mortgage/.
TF«s£
INTEREST OR DIVIDENDS.
Amount
City Ya. Mid. d Gt. Southern—(Continued)—
3d mortgage, O. & A., and funded interest
4th mortgage, O. & A.,
do
do
1st mortgage, O. A. & M. RR
2d mortgage. O. A. & M. RR
Gen. mort.^ gold, Wash. C., Va. Mid. & Gt. South’ll
c
57
544,107
579,492
Net
Bonded
Earnings.
Interest.
$121,088
100,524
176,652
183,994
$204,240
204,240
204,240
165,000
-(V. 30, p. 542.)
Western d Atlantic.—Atlanta, Ga., to Chattanooga, Tcnn., 138 miles.
Built by State of Georgia and opened in 1850, and
by an act of October
24,1870, was leased to a company for twenty years at a monthly rental
....
....
.
....
....
Western Minnesota .—Sauk Rapids, Minn., to Brainerd,
Minn., 61
miles.
Road opened Nov. 1, 1877.
Leased to the Northern Pacific
Railroad May 1, 1878, for 99 years. Stock, $100,000. The land
grant
is 537,842 acres. George L. Becker,
President, St.
Paul, Minn.
Western North Carolina.—Pend as
projected—Salisbury, N. C., to
Paint Rock, Tenn. State line, 184 miles; in
operation—Salisbury, N. C.,
to Swannanoa, N. C., 127 miles; branch line—Newton
Junction, N. C., to
Newton, N. C., 3 miles; total projected, 184 miles, and operated, 130
miles. The road was financially embarrassed, and was
purchased April
17, 1875, by commissioners for the State of North Carolina. It is pro¬
posed to complete the road to the Tennessee State line. In March, 1880,
a
meeting of the Legislature was called to act on a proposition by New
York capitalists to purchase the road. Stock,
$1,400,000. J. W. Wilson,
President, Morgantown, N. C. (V. 30, p. 249.)
Western Pennsylvania.—The road runs from Blairsville to
Alleghany
City, Pa., 63!2mile8; branch to Butler, Pa., 21 miles; total, 841amile8of $25,000. In 1877
Completed
in
1865
and
branch
in
1870.
Leased
to
gross earnings were reported at $1,091,895, and
Pennsylvania Rail¬
road, the lessees paying net earnings to lessors. The Pennsylvania Rail¬
net, $460,905. None later given. (V. 29, p. 489.)
c‘
Western Maryland.—line of road—Baltimore to Williamsport,
Md., 90
nules. The capital stock is $682,250. The
company was largely assisted
by the city of Baltimore, and was unable to pay all its interest. A com¬
promise was made with the preferred second
mortgage bondholders for
funding coupons. See Chronicle, Vol. 29, p. 458, where the last annual
report is published, which contained the following
interesting information:
road, lessee, owns $993,050 stock out of the total amount of $1,022,450,
$288,000 of branch bonds, and all of $1,200,000 general mortgage
bonds. In 1878 gross earnings were $547,175 and net
earnings $231,175.
White Water— Harrison, O., to Hagerstown, Ind., 62 miles. This was
formerly the White Water Valley, sold in foreclosure May 2,1878, and
reorganized under this title. Net earnings in'1878, $17,645. Elijah.
Smith, President, Boston, Mass.
r:
1874-569
For
explanation of column
first page
=
headings, See., see notes
of tables.
-
-
-
Immediate notice of any error
■
■■
=
discovered In tliese Tables.
Bond8—Princi¬
INTEREST OR DIVIDENDS.
pal,When Dne.
Miles Date Size, or
Amount
Rate per When Where Payable, and by Stocks Last
Par
of
of
DividendOutstanding
Whom.
Cent.
Payable
Road. Bonds Value.
n
1874-65.
Wilmington Columbia A
Tiu'/imA
.
great Favor bj giving
DESCRIPTION.
on
=
-
.
.
S«fb*crTber« wlll confer a
[VOL. XXX
■
■■
.
r
STOCKS AND BONDS.
RAILROAD
58
hnudfl
Augusta—let mortgage
Wilmington ^ Weldon—Stock
Sterling bonds
1870 $500Ac.
100
179
.i
Sinking fund bonds, gold
.
Central—mortgage, gold, land grant.
WmrMJtfjtr A. Najth.ua—Stock
Bonds
Bonds
Nashua <tt
do
327
94
Rochester—Stock
do
1st m,, guar, (for $700,000)
Wilmington Columbia A Augusta.—The road
48
48
m
m
m
m
m
•
1873
1875
100
100 Ac.
500 &c.
1000&C.
1874
500 &c.
Wilmington <fc
Earnings.
Net
Earnings.
$593,597
$193,608
532,311
116,634
518,225
87,630
509,099
98,659
478,309
defloit, 8,010
Road was sold in foreclosure, October, 1879, for $860,500, and re¬
organization is in progress. The scheme of reorganization provides
that a new corporation shall be created, with a capital stock of $960,000
and $1,600,000 in thirty-year first mortgage bonds. The holder of
$2,000 of the old bonds, together with the certificates for funded interest,
to receive a $1,000 bond of the new company, and in addition six shares
of stock, viz.: The first mortgage bonds of the Wilmington Columbia <fc
Augusta Railroad, $3,200,000, and accrued interest, $336,000, will be
funded into $1,600,000 bonds and $960,000 stock of the new company.
The plan adopted provides only for the first mortgage bondholders, and
cuts out income bonds, $600,000; certificates of debt, $336,000; floating
debt. $879,022, and the capital stock of the old company, $300,000.
(V. 29, p. 351; V. 30, p. 84, 190.)
Wilmington A Weldon.—Road extends from Wilmington to Weldon,
N. C., 163 miles; branch to Tarboro, 17 miles; total, 180miles. Was leased
November, 1872, to Wilmington Columbia & Augusta Railroad for 99
years, the lessees assuming all liabilities and paying 7 per cent divi¬
dends. The lessees made default December, 1877, and the lease was
surrendered April 13,1878.
have been as follows:
five years
Gross
Net
Earnings.
Earnings.
$661,295
$269,509
238,977
156,908
176,277
189,413
3
6
7
7
7
2
5
5
5
1874-569.
1,789,800
275,000
250,000
400,000
J. & D. Balt.,
*
g.
g.
g.
g.
l*fl
5
700,000
J. & D.
J. & J.
M. & N.
J. & J.
J. & J.
J. & J.
Various
A. & 0.
F. & A.
A. & O.
A. & O.
June, 1900
Safe Deposit Co.
Nov.
22,1879
1881
1886
1896
London.
do
N.Y.,Bost.,Lond.,Frank
July 1, 1901
July 1, 1876
May 1, 1887
Bost., Globe Nat. Bank. April 1, 1893
Feb. 1, 1895
do
do
April, 1880
Worcester, Office.
Bost., Globe Nat. Bank. April 1, 1894
Boston, Office.
Worcester, Office.
do
do
129 miles. Road finished in 1876. A foreclosure suit was begun in
September, 1878, and in January, 1879, the road went into the hands of
trustees for bondholders, having been operated previously by the
Phillips & Colby Construction Company. There is a valuable
land-grant
The full plan of proposed reorganization, with¬
out foreclosure, was given in the Chronicle, V. 29, p. 303. Of theabove bonds, $1,091,500 are “unfunded,” bearing coupons of July*
of
over
800,000 acres.
nine coupons, including July,
first coupon due Jan., 1881;
$15,000 are partially “clipped” bonds, issued by mistake, with coupon
of July, 1880, on. Annual report V. 30, p. 599. For four years past the
1875, and since; $3,594,000 have funded
1879; $3,481,500 are “clipped” bonds,
1
earnings, &c., were as follows:
Passenger
Mileage.
Miles.
Years.
1875-6. 355
449
1877
1878
449
5,960,952
5,581,586
5,661,975
.
Freight (ton)
Mileage.
21,647,694
Gross
Net
Earnings.
Earnings.
$709,935
$297,733
111,893
122,863
193,090
714,429
733,819
851,090
449
1879
-(V. 28, p. 18, 70; V. 29, p. 147, 303; V. 30, p. 249, 598.)
...
.
...
.
...
.
Worcester A
23,968,360
23,225,583
Mass., to
for some years
& Rochester, 48
& Nashua paid
Nashua.—This road, 45 miles from Worcester,
Nashua, N. H., paid regular dividends of 10 per cent
before 1874-5. In 1875-6 the leased line charges (Nashua
miles) first appear in the accounts, and the Worcester
only 5*2 per cent dividends in that year and nothing since. The rental
charge being plainly too heavy, an agreement was made in 1879 to
reduce the interest on bonds to 5 per cent, and the dividends on Nashua
& Rochester stock to 3 per cent per annum. The interest on Worcester
& Nashua bonds was also reduced to 5 per cent, and surplus earnings in
any year
above requirements for
interest and 3 per cent on each stock
according to
$75,CKK>
to be apportioned between the stock of each company
the relative number of shares. In addition to above there are
bonds due Jan. 1,1881. Five years’ operations were as follows
are
Passenger
Mileage.
5,245,921
Freight
Mileage.
9,083,218
8,969,241
10,063,658
9,961,740
12,123,444
Y. 28, p. 378; V. 29, p. 86,
5,874,808
6,383,990
5,703,761
6,168,871
30, p. 191.)
line, Menosha to Ashland, Wis., 249 miles;
miles; leased the Milwaukee & Northern, -(V. 27, p. 537 ;
Wisconsin Central.—Main
branch to Portage City, 71
earnings and expenses for
604,699
548,462
488,448
505,957
1877r8
1878-9
—(V. 28, p. 44, 144; V.
The
[1,456,200
1,185,000
....
extends from Wilmington
Columbia, 8. C., 189 miles. The company leased
Weldon, but failed on the rent Deoember, 1877. Gross
N. C., to
1871
m
7
648,700
221,400
749,000
8,168,000
179
m
$3,200,000
600,000
do
do
Wisconsin
188
.. .
Gross
Earnings.
$461,369
507,325
497,239
473,240
473,081
539.)
:
Net
Receipts.
$125,290
162,597
157,260
168,351
186,40G
Subscribers will confer a great favor
DESCRIPTION.
Wot
explanation of column headings, Ac., see notes
on first page of tables.
by giving immediate notice of any error discovered in tbese Tables.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
Rate per When Where Payable, and
Par
of
of
whom.
Cent.
Canal. Bonds. Value. Outstanding
Payable
$....
Albermarlc £ Chesapeake—Stock
Mortgage bonds
1879
14
14
Chesapeake £ Delaware—Stock
1st mortgage (originally $2,800,000)
184
184
184
184
60
Chesapeake £ Ohio— Stock
Maryland loan, sinking fund
Guaranteed sterling loan
Bonds having next preference.
Delaware Division—Stock, (Conv.into L.C.AN.stck.)
1st mortgage (extended 20 years
Delaware £ Hudson—Stock
let mortgage,
do
registered
148
148
148
.
do
Debenture loan of 1894, coup
1st M., coup. & reg., on Penn.
and reg
....
Div. ($10,000,000)
....
339
Dehigh Coal £ Navigation—Stock
Loan, conv., coup., gold (assumed L. A W. Coal Co)
1st mortgage, registered
1st mortgage, registered, railroad
Mort.'loan, g. ($2,810,000 assumed
....
....
.
1877
103
103
103
103
Preferred stock scrip dividend
.
337
337
108
Pennsylvania—Stock
General mortg., interest guar’d by Penn. RR—
Schuylkill Navigation—Stock, common
Preferred stock—
1st mortgage, extended
2d mortgage
Mortgage bonds, coup, (payable
1858
....
1,000
1,000
1,000
4,856,000
100
1869
1871
1874
1877
1000&C.
50*
....
5,000,000
11,204,250
771,000
5,381,840
2,000,000
500 Ac.
1869
1864
1867
1867
Var.
Var.
500 Ac.
Var.
Var.
4,653,000
430,342
41,550
2,102,750
685,000
245,000
1,025,000
1,000
1,000
various.
100
100
«...
1876
1865
various.
1869
various.
1,175,000
780,000
220,000
103,164
4,501,200
1,000
50
1870
.
.
.
1,000
3;ooo;ooo
50
50
876,536
3,192,250
1,709,380
3,990,392
1,200,000
228,000
756,650
628,100
.
....
1,000
1,000
....
by P. & R.)
2;ooo;ooo
4,375,000
1,699,500
1,633,350
800,000
20,000,000
3,500,000
6,481,000
1,000
.
Improvement bonds
.
.
Boat and car loan
Boat and car loan
m
m
„
....
.
1870
1,000
1863
1,000
1,000 1
1864
.
Maryland loan, 2d mortgage
Susquehanna Canal, common bonds, 4th mort....
do
pref., 3d. T. W. priority b’ds..
....
-
bonds of 1872
85
Union—1st mortgage
.
2,002,746
1,000,000
1,323,000
50
45
Susquehanna—Stock
Albermarle £
....
1872
1871
1872
o
—
2,078,038
1,993,750
8,229,594
25
500 &c.
500 Ac.
500 Ac.
50
_
Boat loan
do
.
by other co’s.)
Loan, debenture mortgage
Loan, debenture
Consolidated mortgage loan
Greenwood mortgage, reg.
Extended,
Scrip
Morris—Stock, consolidated
Preferred stock
New mortgage (for $1,000,000)
50
Vario’s
•
60
in 1878)
500,000
....
1856
$1,500,000
1,000
1839
1859
1841-4
1872
*
*
•
1,000
325,310
250,000
500
1,000
*
*
*
*
3,000,000
*
Bonds—Princi¬
pal, When Due.
by Stocks—Last
Dividend.
‘
7
....
6
A J. N. Y., Union Trust Co.
J. A D.
Philadelphia, Office.
do
do
J. A J.
J. A J.
J.
6
5
6
14*28.
6
4
7
7
7
7
Q-J.
Q-J.
J.
F.
J.
F.
J.
J.
A.
M.
A
A
A
A
A
A
A
A
Q—M.
6 g6
6
6 g.
6
6
7
7
6
M. A S.
2
5
7
7
7
July, 1886
1870
1890
1885
Balt., A. Brown A Sons.
London.
J. Balt., A. Brown A Sons.
A.
Philadelphia, Office. Mar. 20, 1880
do
do
J.
July 1, 1898
A. N. Y., Bk. of Commerce.
Aug. 1. 1876
1884
do
do
J.
do
1891
do
J.
1894
0. N. Y., office 71 B’way.
do
do
S.
Sept. 1. 1917
1*3
Philadelphia, Office.
do
do
Q-J.
Q—F.
J.
J.
J.
J.
F.
M.
F.
F.
A.
A.
F.
July 1, 1999
do
1894
do
do
do
A D.
do
do
do
A D.
do
do
A D.
do
do
A D.
do
do
A A.
do
do
A S.
A A. Leh. Val. RR. Co., Phila.
do
do
A A.
do
do
A O.
do
do
A O.
do
do
A A.
1
6
70c.
J. A J.
F. A A.
$1 40
August.
6
6
6
6
6
7
Q. -M.
J.
J.
M.
M.
M.
6
6
6
7
6
J. A J,
J. A J.
J. A J.
J. A J.
M. A N.
A J.
A J.
A N.
A N.
A N.
Phila., 233 So. 4th St.
Philadelphia, Office.
do
do
do
do
do
do
do
Sept. 2, 1876
do
do
do
do
1884
1897
1897
1880-’81-’82
1882
June 1, 1911
1892
1883-’84
Feb. 4, 1880
Feb. 4, 1880
April 1,1906
Oct., 1885
Feb., 1889
July, 1910
Aug. 6, 1879
Aug. 6, 1879
March, 1897
1882 to 1907
1895
do
do
do
do
May, 1880
May, 1913
May, 1915
Phila. and Baltimore.
do
do
do
do
do
do
Philadelphia, Office.
Jan., 1885
Jan. 1, 1918
Jan., 1894 '
Jan., 1902
May 1,1883
p. 453, 501; V. 29, p. 119, 146, 225, 357, 459, 563, 631; V.
168, 320, 518, 589.)
Chesapeake.—Securities placed on New York Stock -(V. 28,
Prest., Marshall Parks, Norfolk, Va. 30,
Exchange list February, 1880.
—(See Y. 30, p. 248.)
p.
Lehigh Coal £ Navigation.—The Central Railroad of New Jersey
(in purchase of equipment) $2,310,000 of the gold loan dim
1897, and leases the Lehigh A Susquehanna Railroad. The Lehigh &
Chesapeake £ Ohio— Gross receipts, 1878, $289,457; net, $82,525. Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897,
and $771,000 (all) of the convertible gold loan due 1894. The Board
—(V. 28, p. 599.)
Delaware Division.—Leased to Lehigh Coal A Navigation Co. at interest of Managers’ report for the year 1897 has the following statement of
receipts and disbursements:
•on bonds and 4 per cent a year on stock, payable tin February, 1880, in•clusive, in scrip, then till August, 1881, half in scrip. (Y. 28, p. 41,198.)
RECEIPTS.
Delaware £ Hudson.—This company, which is among the largest Railroads and
Nesquelioning Tunnel
$828,817
miners and carriers of coal, leases the Albany & Susquehanna and
Lehigh Canal
:
51,930
Rensselaer & Saratoga railroads. Also endorses bonds or New York & Water Powers Lehigh Canal
19,830
-Canada Railroad. The annual report for 1879 was given in V. 30, p. Delaware Division Canal
.'
47,589
:320. Comparative statistics for four years are as follows:
Net profit on Lehigh Coal
*
190,622
INCOME ACCOUNT.
Royalty on coal mined by lessees
1,961
Chesapeake £ Delaware.—Belaware City to
—(V. 27, p. 66,)
Receipts—
:Sales oi coal
-Canal tolls.
Miscellaneous profits
•Coal on hand (Dec. 31)
Railroad earnings in Penn.
Interest on investments...
Balance
Total
Disbursements—
■Coal on hand Jan. 1
•Coal purchased
Chesapeake City, Md.
1876.
1877.
1878.
1879.
$
$
$
$
6,495,428
43,445
381,048
698,758
306,911
4,638,872 5,229,266 5,764,477
44,313
39,100
41,025
28,900
80,146
91,408
341,036
672,785
535,264
398,219
248,275
595,663
341,781
294,312
326,635
1,147,322
630,643
59,591
8,264,522 6,743,040 6,818,887 7,985,118
$
$
$
$
737,628
698,758
341,036
673,651
338,932
120,599
2,754,778 2,077,370 2,264,228 3,003,893
542,156
488,073
618,252
641,951
759,349
820,438
933,768
1,032,431
528,532
428,840
422,746
830,427
Interest
1,187,886 1,157,352 1,340,956 1,234,449
'Taxes and miscellaneous.
596,780
534,025
406,883
350,916
Loss on leased railroads..,
555,404
605,367
498,562
316,059
Mining coal
-Coaltransportation, &c...
■Canal freight and expenses
Railroad freight, Ac
308,020
8,264,522
Balance
Total
GENERAL BALANCE AT
Assets—
■Canal, &c
6,743,040
6,818,887
$
$
$
6,339,210 6,339,210 6,339,210
6,209,981 6,190,766
8,622,913 8,643,783
2,679,961 2,679,077
Railroad and equipment.. 6,195,511
Real estate
8,532,873
Mines and fixtures
2,666,849
Coal-yard, barges, Ac
7,985,118
CLOSE OF EACH FISCAL YEAR.
917,573
877,784
897,287
$
6,339,210
6,220,669
8,795,657
2,699,590
720,487
assumes
Miscellaneous
3,393
receipts
$1,183,848
Total
.
DISBURSEMENTS.
General and legal expenses
Rent and taxes Nesquehoniug Valley Railroad
Rent and taxes Delaware Division Canal
Taxes chargeable to canals
Taxes chargeable to coal and coal lands
Taxes on capital stock
Taxes on landed property and improvements
Interest account
$51,333
138,000
118,867
1,730
49,179
14,131
12,411
923,958—1,309,612
$125,763
Deficit
The President remarked: 44For the purpose of reducing our floating
debt and of providing means to meet other maturing liabilities, the
Board made sales during the year of $793,000 of the company’s con¬
solidated 7 per cent bonds, at an average of 88 per cent. The improved
credit of the company,
and the advance in the market price of its securi¬
ties, enabled the Board to avail of a provision in the lease
of the Nesque-
honing Valley Railroad, and to reduce the dividends guaranteed by ns
on the stock of that company.
The right was reserved to us in the leara
to retire the stock at par at any time after ten years, which expired in
November, 1878. We notified the company in July of our desire to
avail of this right, and the result of the negotiations that followed was
the reduction for five years of the dividends from 10 per cent to 7 per
cent per annum from September 1,1879, without cost to this company.
The rent is thus reduced to $97,000 per annum—a saving of $41,000
from the amount paid last year.” * * * 44 The floating debt was at
the close of the year $1,000,000, and there remain in the hands of tha
company $1,108,000 consolidated 7 per cent bonds in addition to the
18,900 shares of stock. The first installment of the debenture loan
extended in 1877 matured, and was paid, on 10th December.” (V. 28*
p. 198, 224, 578; Y. 30, p. 190.)
1,022,293 1,022,293
3,597,087 3,597,074 3,597,074
Cherry Val. & Sharon RR.
320,118
314,871
305,991
300,000
341,036
672,785
535,264
Coal on hand Dec. 31
698,758
439,020
.Advances to leased lines..
427,500
385,374
368,773
Advances on coal royalties
581,289
521,179
617,246
605,326
8,088,714 4,438,512 4,295,445 *4,480,701
Miscellaneous assets
Telegraph, and Car Co....
54,675
69,410
69,410
69,410
1,319,604 1,089,853
878,000
^Supplies on hand
958,667
iforris.—Leased April, 1871, to Lehigh Valley Railroad for 999
Cash and bills receivable.. 2,687,821 1,926,694 2,314,268 3,140,116
199,660
JProflt and loss
587,185 1,208,726 years. The lessees assume bonds and scrip, and pay 10 per cent
per annum on preferred stock and 4 per cent on consolidated stock.
Total assets
39,285,099 38,714,292 39,610,006 40,981,301 -(V. 12, p. 714.)
Liabilities—
$
$
$
$
Pennsylvania.—Worked in interest of Pennsylvania Railroad, whielt
20,000,000 20,000,000 20,000,000 20,000,000
(Stock
Bonds
15,116,000 17,010,POO 18,333,000 19,837,000 guarantees interest on bonds. An old mortgage of $90,000 is due fcaL
1887. Earnings, $282,767; net, $107,924j interest, taxes, Ac., $187*•Sinking fund
274,545
Miscellaneous accounts... 2,846,230 1,703,792 1,277,006 1,144,301 003; deficiency, $79,079.
Profit and loss
1,048,323
....
Schuylkill Navigation.—Leased from June 1,1870. to Philadelphia Sl
Total liabilities...
39,285,099 38,714,292 39,610,006 40,981,301 Reading for 999 years. . Rental received in 1879, $636,736.
Thtt
These miscellaneous assets include the following: Boston Hartford A dividend of August, 1879, was payable in Philadelphia A Reading Rail¬
road
Erie, 1,420 bonds, $1,254,268, less sinking fund, $435,738—$818,530;
scrip. (V. 22, p. 493 ; V. 26, p. 418; Y. 30, p. 481.)
Jefferson RR. bonds (108), $86,660; Albany A Susquehanna eonsols
Susquehanna.—Leased
and operated by Philadelphia A Reading Rflftr
<610), $605,338; Delaware A Hudson Canal Co., 1,891 bonds (746),
$746,000; sundry assets,^402,022. Stocks as follows: 9,000 shares road for interest on bonds and naif of net earnings.
Albany & Susquehanna, $900,000 ; 8,241 shares Rensselaer A Saratoga,
Union,—Stock, $2,907,850,
$322437 ;* sundry stocks, $100,012,
Lack. & Susquehanna RIT.
New York & Canada RR..
1,021,153 1,021,153
.. ..
•
33,943
5,760
Revenue from rents
Profit realized from sales of real estate
FJLLV
«UU
•••••••«
.
*
•
*•
t
t
•
•
/
v
'
*
-
•
‘
'
*
Adams Express—Stock
American Goal (Maryland)—Stock
American Express—Stock
American Union
Telegraph-Stock
Amie Consolidated Mining—Stock
Atlantic & Pacific Telegraph,- Stock..Boston Land—Stock
Boston Water Power—Stock
Date
of
see notes on
Size,
•
25
100
.*I
.’
1874
5,000,000
1,000
£200
•
1880
1,000
100
1864
1872
1,000
1,000
100
100
100
fund
1868
1,000
100
100
100
t
18,065
Jer¬
$180,812
62,172
$300,736
2,400,000
2,000,000
10
Q.—J.
s.
•
■
-
J.
6 g.
6 g.
6
6 g.
10 cts
1,644,300
10,250,000
6 g.
2*2
387,000
753,000
500,000
1,000,000
10,000,000
400,000
10,000,000
10,000,000
7,620,000
7
6
6
25 cts.
8
25 cts.
30 cts.
1*2
pal,When Due.
Stocks—Last.
Dividend.
Boston, Office.
A D.
Nov. 12,1872
do
June, 1884
J. A J. London, Brown S. A Co. Jan.
J. A J. New York or London.
Jan.
J.
A J.
M. A N.
London.
.New York, Office.
Q.—F.
New York, Office.
7 scrip
30 cts.
1, 1904
1, 1904
1900
March 1880
Jan.V
1875
May 25, 1880
F. A A. N.Y.,Company►r’s Ag’ncy
M. A S. N.Y., Co.’s Offi ce, 71 B’y Jan. <2, 1877
J. A J.
do
do
Jan., 1885
J. A J.
do
do
Jan. 1, 1897
A. A 0.
New York, Office.
Oct. 15, 1875
M’nthly
New York, Office.
June 21, 1880
M’nthly
M’nthly
Q— F.
Now York, Office.
New York, Office.
Boston, Treas. Office.
June 5, 1880
June 25,1880
M. A N. N. Y., at Ill. Cent. R. R.
.
Nov., 1893
May 1, 1880
254—
297,058
$3,678
$204,324
3,678—
;
Deduct uncollectible claim
208,002
159
Present surplus
$207,843
Total assets December 31, 1879—Lands and real estate at
mines,
$1,542,365; real estate at Jersey City, $100,710; mine improvements,
$16,254; cash, $28,431; wharf improvement at Jersey City, $5,000;
personal property at mines, $33,731; personal property at wharves,
$3,335; bills receivable, $19,892; accounts, $62,246; canal boats,
hand, $18,065; office furniture, $513; Chesa¬
peake A Ohio Canal bonds, $9,000; C. & P. Railroad stock, $1,000; G. C.
& C. Railroad stock, $56,000; total, $1,916,545. Directors: James A.
Alexander, John P. Moore, Sidney Wintringham, Gardiner Lloyd, Ben¬
jamin Williamson, Richard S. Grant, William J. Boothe, A. J. Akin,
on
Gardiner P. Lloyd, President; George Sherman, Secre¬
(V. 30, p. 221.)
American Union Telegraph.—This
company, organized under the
auspices of Mr. Jay Gould and associates, is making sharp opposition to
the Western Union. It is supposed to be started
upon the theory that a
company with lines to main cities only, and comparatively few offices,
can make such opposition to the Western Union as to
compel that com¬
pany to buy it out at last.
It is built by a construction company, but
no information as to its finances is
published. In Januaiy, 1880, it was
reported that the American Union Company owned 12,000 miles of
wire in the United States between Boston and
Omaha, connecting all
the principal cities of the North and West, all of which had been erected
since May, 1879. First-class material has been used. “
Nearly 40,000
miles of wire have been purchased, half of which has
already been re¬
ceived and paid for, the average price for the whole lot
being 20 per
cent less than the ruling price
to-day, and the same conditions apply to
other material.
In July last about $300,000 worth of
stock, out of a
capital of $1,000,000, of the Dominion Telegraph Company of Canada,
was purchased by the American Union
Company, and in connection
therewith a lease was taken of the lines and property of
the Dominion
Company for a term of 99 years. This connection gives an additional
12,000 miles of wire to the control of the American Union
Company, and
includes the contract of the Dominion Company for
exchange of busi¬
ness with the Direct United States Cable
Company, whose cable extends
from Tar Bay, Nova Scotia, to Ireland. The American Union
Company
has, in addition, concluded a twenty years’ contract for exclusive ex¬
change of business with Le Compagme Francaise du Telegraph de Paris
a New York, whose new cable was landed on Nov.
17 upon the shores
of Caj>e Cod, near North Eastham, Mass. This cable extends from
Cape
Cod to St. Pierre, Miguelon, and from thence to
Brest, France, from
which point a cable connects with Penzance, on Land’s
End, England.”
—(V. 29, p. 17, 461, 630; V. 30, p. 66, 90, 410, 568, 600.)
Amie Consolidated
Mining.—Stock is non-assessable. President, W. W*
McFarland; Vice-President, Hon. P. B. Plumb; Secretary, A. Ebert*
The financial statement, as made to Stock
Exchange, will be found in V.
30, p. 356.
Atlantic (f- Pacific Telegraph.—Pools with Western Union
their gross
on the basis of 871e per cent to the West. Un. and 12^
per cent
to the Atlantic & Pacific. The expenses were
arranged at 13-14^
cent to Atlantic A Pacific and 86-85 ^ per cent to Western Union. per
I11
February, 1880, there were reports of a proposed consolidation and issue
of one share of Western Union stock for two of Atlantic
A Pacific. (V.
27, p. 280, 627; V. 28, p. 452.)
receipts,
strictly no par value. There
85,833 shares called “proprietary” shares, or the number into which
the property of the company is divided, the assets
consisting of lands
on and near “Back Bay,” in Boston.
Statement of assets, Ac., in V. 30,
p. 464. (V. 27, p. 121; V. 29, p. 119, 432; V. 30, p. 464.)
Canton Improvement.—The annual report for the
year ending May 31,
1879, is in V. 29, p. 65. A brief history of the company was in V. 30,
p. 117. Of the $2,500,000 mortgage, $600,000 is reserved to
pay ster¬
ling loan. The company owns the stock of the Union Railroad Company
and guarantees its bonds. (V. 27, p. 14; V. 29,
p. 65 ; V. 30, p. 117.)
are
ConsoljMining.—This
Central Arizona
13,169
Gains, 1879
company has 1,400 feet
on
the vein.
Mining.—No dividends yet paid.
Central New Jersey Land Improvement.—The report says that
during
the last six months of 1879 an active demand sprang up for the
com¬
pany’s lands. A further reduction of $100,000 was made in the capital
stock by canceling a thousand shares received in exchange for
lands,
reducing it to $2,400,000. Of this amount outstanding the company
still owns $25,500, held for the redemption of scrip as
presented. The
dividend scrip has been reduced fr om $106,984 to $43,296, and as it is
desired to extinguish this scrip as
speedily as possible, the request is*
made to holders of the scrip that they will bring the same in for conver¬
sion into stock. The statement for two years ending December
31,1879,
shows total receipts in 1878 of $163,658 and in 1879 of $120,957. The
balance sheet December 31, 1879, gave the following values of lands
owned: Newark lands, $390,584 ; Bergen, $617,622 ; Elizabeth, $169,-
150; Westfield, $26,307; Fanwood, $479,633; Plainfield, $347,976;
Dimellen, $345,398; Somerville, $77,861; Clinton, $4,780; Bloombnry,
$26,345; Phillipsburg, $861; total, $2,486,522. (V. 30, p. 117, 221.)
Climax Mining— The statement of the company to N. Y. Stock Ex¬
change, January, 1880, said that the whole stock was paid for the- mine
and developments thereon. The property is located on Fryer Hill, Leadville, Col. There have been expended on surface improvements $25,000,
and on underground improvements $20,000.
The company lias paid
$60,000 in dividends. Dividends paid monthly up to February, 1880;
then quarterly,beginning with May. The officers are: President, Hon.
David A. Wells; Vice-President, Mr. Samuel A. Strang; Treasurer, Mr.
William Bond; Secretary, Mr. W. B. Allen.
(V. 30, p. 43.)
Colorado Coal <£ Iron.—This company,
with headquarters at Colorado
consolidation Dec. 13, 1879. of the Central Colorado
Improvement Co., the Colorado Coal & Steel Works, and the Southern.
Colorado Coal A Iron Co. The company is controlled by Denver A Rio
Grande Railroad parties.
Stock is non-assessable. President, W. J.
Palmer; Vice-President, C. B. Laihborn. (Vol. 30, p. 357.)
Springs, Col.,
was a
Consolidation Coal—The annual report for 1879 was published in the
Chronicle of March 6, 1880, and contained the following:
The gross receipts from mines, railroads, rents, Ac., (includ¬
ing value of stock of coal on hand) were
$1,614,945
Total expenses of every
kind (exclusive of interest and sink¬
ing fund, but including steel rails and all extraordinary
outlays)
^
Net receipts
Net earnings after
1879 and’ sinking
$239,692
Interest
on
1,258.382
’•
$356,563
:
deducting interest on bonded debt for
fund belonging to 1879, amounting to
the funded debt for the year
*
116,870
161,653
—Consolidated mortgage bonds are held to retire old bonds. Guarantees
also bonds of the Cumberland & Pennsylvania, and assumes $135,000 of
the Union Mining Company’s bonds. (V. 28, p. 301; V. 30, p. 247.)
Cumberland d: Elk Lick Coal.—Admitted to Stock List January, 1880.
A coal company of Somerset County. Pa.
Bonded debt outstanding
only $17,000; no floating debt. Alex. Shaw, President, Baltimore.
Deadicood Min ing—The stock is on the N. Y. Stock Exchange list. The
property is located in Whitewood District, D. T., consisting of the north
segregated 1,000 ft. of the Golden Terra lode, and the north segregated 500
feet of the Ophir lode. The average monthly bullion product had been
$37,817, and the average monthly expenses $10,236, leaving an average
monthly profit of $27,581. The officers are: President, Joseph Clarke;
Vice-President, J. B. Haggin; Secretary, J. K. Goodrich. (V. 30, p. 66.)
Excelsior Water <t Mining.—Stock placed on New York Stock Exchange
list Nov., 1879. (Sec V. 29, p. 511.)
Homestake Mining.—Property in Whitewood District, D. T., consisting
of Homestake and Golden Star mines, 1,350 feet long by 450 feet wide
on the vein; one 80-stamp mill and one 120-Btamp mill; value, $500,000.
Receipts to January 1, 1880, $1,172,000; expended in development,
capital stock of 80,000 shares of the par value of $10 construction, Ac., $800,000. Present capacity of mill, 400 tons per day.
each, or $8,000,000, lias been placed on the N. Y. Stock Exchange list. Monthly dividends 30 cents per share. Officers: President, Lloyd Tevis;
The assets of the company are: Mortgages, loans and cash on Jan.
1, Vice-President, R. P. Lounsbery; Treasurer, J. B. Haggin; Secretary,
1679, $89,085; Revere Beach Railroad stock, wharf in East
Boston, J. K. Goodrich.
valued at $17,090; land in East Boston and
Revere, about 800 acres,
Iowa Railroad Land.—The total land owned was 451.609 acres
unincumbered, estimated at $2,090,880: total, $2,197,055. There are March
31,1880, and the company had for sale 428,133 acres belonging
no debts.
(V. 29, p. 510, 537; V. 30, p. 90,117.)
to other companies.
r
,
Boston T. and.—The
J
Y., Company’s Office. May 17,1880
New York.
June 30,1880
—
7
9,250,000
Caribou
28,130
5,455
7,064
Surplus, December 31, 1878
David Stewart.
-
Boston Water Power.—The shares have
$282,671
Alexandria, Baltimore and
N.
%
io,ooo;ooo
10
.'
Taxes
Bond and scrip interest to March 1, 1880
Salaries, office and contingent expenses
Legal expenses
tary and Treasurer.
1,000.000
100
Canal and railroad transportation
Mining, superintendence, labor, Ac
$20,000; value of coal
1,073,000
783,000
600,000
500 &c.
500 Ac.
are
gains, 1879
717,875
575,000
1,000
10
100
100
10 cts
800,000
4,291,650
2,148,000
16
1873
1874
2
Cl)
14,000,000
......
rents and interest
Coal on hand, value...-
Add
-
Q— M. N. Y., Company’s Office. June 1, 1880
M. A S.
New York, Office.
Sept. 10, 1877
J. A J. N. Y., Company’s Office.
July 1, 1880
2*2
18,000,000
100
10
50
mortgage bonds for $114,300. The annual
report for 1879 gives the following information:
Received for coal sold and delivered, earnings of canal
boats,
expenses,
1,500,000
"Yo
Adams Express.—No reporte; no information.
City
2
•
Colorado Coal <£• Iron—Stock
1st mortgage, gold
.’
Consolidation Coal of Maryland—Stock
let mortgage (convertible)
let mortgage, consolidated, convertible
Cumberland, Coal (A Iron—Stock
Cumberland <t Elk Lick Coal—Stock
Dtadwood Mining— Stock
Dunleith <t Dubuque Bridge—Bonds, sinking
Frcelsio* Water <£• Mining—Stock
Homestake Mining—Stock
;
Iowa RE. Land Co.—Stock
sey
•
Bond8—Princi
I
par
$100 $12,000,000
...
Sterling bonds (sinking fund one-fifth of land sales)
Mortgage bonds, gold, sixes (for $2,500,000)
Union RR., 1st mort., end. (sink, fund.rentson $220,163)
do
2dM., g., end., (s. f. ground rents on $144,800)
Caribou Consolidated Mining—Stock
Central Arizona Mining—Stock
Central New Jersey Land—Stock
Climax Mining—Stock
Shipping
INTEREST OR DIVIDENDS.
Amount
or
outstanding. Rate per When Where Payable, and by
Bonds Value.
I Cent.
Whom.
Pay’ble
Mortgage bonds (for $2,800,000)..;
American Coal.—There
'■
great favor by giving immediate notice of any error discovered in tbese Tables.
explanation of column headings, Ac.,
first page of tables.
Canton Improvement—Stock
'
.
a
DESCRIPTION.
For
:
*
*
■
-
Subscribers will confer
'
”
s
i
MISCELLANEOUS STOCKS AND BONDS'-
June, 1880. J
Subscribers will confer
a
great favor by giving Immediate notice of any error discovered In tbese Tables.
DESCRIPTION.
Date
or
Par
La Plata
Bonds
of tables.
Mining—Stock
....
Mariposa Laiui <£ Mining—Stock
....
Preferred stock
Mortgage bonds (lor $500,000)
Maryiana coal—Stock
....
1875
:
$10
$2,000,000
10
100
100
100
2,000,000
20,000,000
10,000,000
1,000
(?)
4,400,000
171,000
5,000,000
2,500,000
5,000,000
1,500,000
....
1Tontauk Oas Coal—Stock
New Central Coal—Stock
New York <k Straitsville Coal <£• Iron—Stock
New York <G Texas Land—Stock
Ontaino Silver Mining—Stock
....
....
....
....
Oregon Railway d Navigation—Stock
Mortgage bonds, gold
Pacific Mail Steamship—Stock..,
1879
100
100
100
100
100
100
100
100
10,000,000
6,000,000
6,000,000
20,000,000
2,000,000
1,000,000
500,000
5,000,000
472,500
2,500.000
5,938,200
328,000
445,000
820,000
199,000
218,000
5,708,700
100
4,291,300
1,000
7,990,000
5,000.000
1,000
100
Pennsylvania Anthracite Coal—Stock
1st mortgage (east side) bonds on 1,053 acres
1st mortgage (west side) on 400 acres and 550 leased
Pennsylvania Coal—Stock
1st mortgage bonds
....
....
1872
1872
1,000
Producers’ Consolidated Land <£ Petroleum— Stock
Pullman Palace Car—Stock
....
1871
1872
1872
1878
1875
2d series
3d series
4th series
debenture
Bonds,
sterling debenture, convertible
Quicksilver Mining—Common stock
Preferred stock...
St. Louis Bridge <6 Tunnel RR.—Bridge stock
1st mortgage, new, sinking fund
Tunnel RR. of St. Louis, stock
1,000
50
1861
....
....
100
100
1,000
1,000
1,000
1,000
£100
.
....
1878
(
Little Pittsburg Consolidated Mining.—The general manager, in his
report of operations for the year ended Dec. 31,1879—covering only
eight months actual operation—gave the following figures:
Ore receipts
$1,346,606
Rate per
Cent.
When
Payable
Where Payable, and by
Whom.
712 Ct8. M’nthly
15 cts.
50 cts.
New York, Office.
New York, Office.
New York, Office.
....
Bonds—Princi"
pal,When Due'
Stacks—Last
Dividend.
July 1, 1880
Jan., 1880
March, 1880
5,000,000
1,000
—
Maryland Union Coal—Stock
Bonds,
Bonds,
Bonds,
Bonds,
Outstanding
....
Bonds—1
Amount
Value.
Mining & Smelting—Stock
Leadville Mining—Stock
Little Pittsburg Consolidated
INTEREST OR DIVIDENDS.
Size,
of
page
61
1,250,000
■
iifl
J.
& J.
New York.
Jan.
1, 1886
Jan.
1, 187t>
Nov. 1. 1906
....
7
•
2
1
50 cts.
2
6 g.
3
Jail. 22, 1876
M’nthly
New York.
M’nthly
Q.-F.
New York, Office.
New York.
J.
& J.
.
.
.
N.Y., Farm. L. & Tr. Co.
.
April, 1880
June 15,
i8BO
May 1,1880
July 1, 1909
Sept., 1868
....
.
7
7
3
7 ?
6
2
8
8
8
7
7 g.
<& D. N.
& D.
J.
J.
Y., 4th National Bk.
N. Y., ill
Q.—F.
F. & A.
do
Broadway.
do
New York,
Q.-J.
Q.-F. N. Y., Farm L.
do
Q.-F.
do
Q.-F.
do
Q.—F.
A. & O.
A. & 0.
do
Office.
& T. Co.
do
do
do
do
Lond’n, J.S.Morgan&Co
i,
June
1892
June 1,1892
May 1, 1880
Aug. 1, 1881
1877
May 15,1880
May 15, 1881
Feb. 15, 1887
Aug. 15, 1892
Oct. 15, 1868
April 1,1885
*
..........
•••
•
....
•
.
7
2
.
.
^
A. & O. New York and London.
April 1, 1928
October, 1884, to October, 1888.
The railroad companies purchased the.
City of Pekin and City of Tokio for $1,200,000,,
payable in monthly instalments of $100,000, the purchase being subject
to an inspection of the steamers within 90 days; and the Pacific Mail
Total expenses and charges
Company gave up to the Union and Central Pacific railroad companies
$306,370
its China line. (V. 30, p. 249.) Report for 1879-80, in V. 30, p. 565.
Dividends paid.
850,000 The following is a statement of the earnings and expenses for the
Real estate purchased
26,000—1,182,370
years ending April 30,1879 and 1880:
*
$164,236
Surplus
Earnings.
To the surplus should be added about $40,000 due for ore delivered and
1879.
1880.
unsettled for during the year. There were 23,187 tons of ore produced,
$581,536
$600,915
from which a bullion product of $1,800,000 was estimated.
The re¬
1,486,571
1,531,677
port of Professor Raymond in April, 1880, was, in substance, that the Victoria line
237,918
201.978
old ground was worked out by February, 1880, and the value of the Trans-Pacific line
920,167
930,657
mine depends on new beds of ore to be found, of which the prospect Australian line
324,282
321,213
China line steamers
...
was
very
good.
(V. 30, p. 67,273.)
Mariposa Land <G Mining.—Assessments made on the shares from
time to time.
Honolulu line
Australian and New Zealand subsidies....
Central American and Mexican subsidies
British Columbia subsidy
Hawaiian Government subsidy
Maryland Coal.—N. 24, p. 226; V. 26, p. 95.
Maryland Union Coal.—Stock placed on N. Y. Stock Exchange, April, Interest and dividends on investments....
1880. See statement V, 30, p. 466. President, John White, New York.
Tug Millen Griffith (net earnings)
New Central Coal (Maryland).—The annual report for 1879 has the Miscellaneous
following:
STATEMENT OP PROFITS FOR TlIE YEAR ENDING DECEMBER
December 31,1879, balance to credit of coal account
December 31,1879, coal on hand, at cost
$81,584
Less freights and taxes due
.
16,618—
31, 1879.
$1,053,712
64,965
$1,118,678
Deduct amount
paid for railroad and canal freights and tolls,
mining, office and shipping expenses, salaries and interest..
Net earnings for the year
Balance to credit of profit and loss December 31,1878
Deduct—
Dividend paid January 22,1879
Amounts charged against profit and
Expenses.
1,036,787
Victoria line, running expenses
Trans-Pacific line, running expenses.
Australian line, running expenses
Honolulu line, running expenses
Agencies
$81,890 Extra and miscellaneous
$244,530
Total expenses.
...
26,804
217,120
164,938
38,000
11,692
13,224
13,023
19,274
176,410
118,366
38,000
6,500
12,464
3,110
28,587
$4,054,560
$3,969,882
$432,373
$474,598
1,136,716
261,826
647,520
411,001
38,782
362,111
1,127,800
273,591
568,570
362,412
364,738
$3,652,745
$3,519,821
376,669
833,852
401,815
450.061
profits
111,905
(V.28,p. 42, 97, 402, 552, 554, 580; V. 29, p. 512; V. 30, p 249, 565.(
Pennsylvania Anthracite Coal.—Stock and bonds admitted to N. Y.
Add$132,624 Stock Board Feb., 1877. Company failed Feb., 1879. (V. 24, p. 112.)
Net earnings for 1879.
81,890
Pennsylvania Coal.—Liabilities at a minimum, and 12 p. c. dividends'
Balance to credit of profit and loss December 31,1879
$214,515 paid. Payment of bonds will be anticipated, if desired.
Pullman Palace Car.—Annual report V. 29, p. 329. The sterling
Note.—The strike of the miners, lasting from September 1 to October
8, caused a suspension of mining during that time, increased the cost of bonds of 1875, of which the whole issue authorized is $1,000,000, are
the coal, and reduced the company’s production and profits for the year. convertible into stock till April, 1881.
The income account for year
Officers for 1880: Malcolm Sinclair, President; William S. Jacques, ending July 31, 1879, showed total receipts of $2,190,734, against
Vice-President; Philo C. Calhoun, Treasurer; Geo. H. Adams, Secretary. which were charged the following disbursements:
—(V. 26, p. 536; V. 30, p. 220.)
Operating expenses, including legal expenses, general taxes
and insurance, maintenance or upholstery and bedding
New York <6 Straitsville Coal d- Iron.—Has $300,000 bonds. The stock
$958,465(including leased lines), and rebuilding association cars....
admitted to New York Board April, 1880. (V. 30, p. 409.)
Rental of leased lines
264,000*
New York <C Texas Land—This company owns the lands granted to the
Coupon interest on bonds
$165,890
International & Great Northern Railroad, about
:— acres, which
Dividends on capital stock
471,056636,946
were given to the holders of convertible and second mortgage bonds.
—(V. 30,
p.
$100,000
loss during ’79
11,905—
519.)
Ontario Silver Mining.—This company was incorporated under the
laws of California, December 16, 1876, with full paid capital stock of
Net
-
Total
$1,859,411
Surplus for the year
$337,323
For five years past a comparative exhibit of the receipts, expenses
profits, and surplus applicable to dividends, shows as follows:
The property is located at Parley’s Park,
Interest,
City, Utah, and consists of the Ontario
Revenue.
Expenses.
Profits.
rentals, &c.
mine, 1,500x200 feet, the Switzerland, 1,500x200 feet adjoining east,
Surplus.
and mill site of three acres adjoining north. On January 26, 1877, the 1874-5.... $2,558,647
$983,346 $1,575,301 $550,357 $1,024,944
2,555,011
990,210
1,564,801
514,269
1,050,532
40-stamp mill of the company was completed. From that time up to 1875-6....
1,091,988
2,570,639
985,072
1,585,567
493,579
January 1, 1880, the Ontario produced bullion to the value of $5,447,- 1876-7....
2,160,830
878,578
1,282,252
451,866
885, from which it paid all expenses; dividends to the .amount of 1877-8....
830,386
2,196,734
958,465
1,238,269
429,890
808,379*
$2,550,000; made permanent improvements of over $1,000,000 in 1878-9....
value, with a handsome cash surplus and over 3,500 tons of ore, that -(V. 26, p. 217; V. 27. p. 302; V. 28, p. 200; V. 29, p. 329, 651.)
will average $150 per ton, on hand on that date. The equipment is very
Quicksilver Mining.—Bonds paid off July, 1879. Validity of preferred,
complete and affords facilities for mining to a depth of 1,500 feet. All stock sustained by N. Y. Court of Appeals, and in March, 1880, the
product had been from some 1,300 feet of the Ontario mine alone, and pref. stock was adjudged $2,683,28 i, or $62 52 to each share. (V. 27, ]>
above the 600-foot level. The product for December, 1879, was about
228; V. 29, p. 302; V. 30, p. 314, 409, 466.)
$165,000. The monthly dividends have been 50 cents per share, with
St. Louis Bridge <£• Tunnel Railroad—Net income in 1876-7, $219,777 r
frequent extra dividends of same amount. New York office of the com¬
The railroad and tunnel were
pany, 31 Broad street. Officers: J. B. Haggiu, President; R. P. Louns- 1877-8, $219,598; 1878-9, $269,697.
under the mortgage of 1873, July 1,1878, for $450,000. Foreclos¬
bery, Vice-President; J. K. Goodrich, Secretary; II. B. Parsons, Assist¬ sold
ure under the first ana seoond mortgages on the bridge was made Dee.
ant Secretary.
20, 1878. The above mortgage ana $7,990,000 in stock are issued
Oregon Railway <G Navigation.—Stock and bonds placed on New York under the reorganization. Of the stock $2,490,000 is first preferred,
Stock Exchange list November, 1879. Net earnings July to November,
$3,000,000 second preferred, and $2,500,000 common. The common
1879, inclusive, $699,864. (V. 29, p. 512; V. 30, p. 289, 409.)
stock is held by the London Reorganization Committee. The coupons
Pacific Mail Steamship.—In February, 1880, an agreement was re¬ due October, 1878,1879 and 1881 on first mortgage bonds to be made In
ported between this company and the Pacific Railroads, by which the same bonds in April, 1881. The bridge and tunnel are worked together
railroad company is to give to the steamship company a monthly subsidy and the net earnings divided in the proportion of five-sixths to the
of $110,000, as against $60,000 formerly. The contract is for five years, bridge and one-sixth to the tunnel up to $450,0000 and all over that
and applies only to California business.
It is understood that the amount nine-tenths to bridge and one-tenth to tunnel. In 1879-80 the
steamship company is to inaugurate a sinking fund of $10,000 per gioss eamiugs were $897,697: net earnings. $392,837. (V. 26, p. 420,
month out of the subsidy money, which will more than liquidate the 524; V. 27, p. 17, 227, 435, 461, 677; V. 28, p. 224; V. 29, p. 196; V.
delt due the Panama Railroad maturing in annual instalments from 30. p. 623.)
100,000 shares of $100 each.
32 miles southeast of Salt Lake
MISCELLANEOUS
62
explanation of column headings, &c., see notes on first
page of tables.
Date
Size, or
Par
of
Bonds Value.
Amount
-
Outstanding
$948,000
1.500,000
10,000,000
18,920,000
600,000
$25
Telegraph—Guaranteed stock
Spring Mountain Goal—Stock, guar. 7 per ct. by L. V
Southern <& Atlantic
50
100
10
Mining—Stock
1879
Mortgage bonds (Tor $2,000,000)
United States Express—Stock
United States Rolling Slock—Stock
'ioo
60584976781
Too
Wells, Fargo & Company Express—Stock
Western union Telegraph—Stock
100
Real estate bonds, gold, sinking fund
Bonds, coup, or reg., conv. till May, ’85,
sink. fd. 1 p. ct.
Sterling bonds, coupon (sinking fund 1 p. ct. per annum)
1872
1875
1875
1,000
1,000
£100&c
Spiring Mountain Coal Co.—This is guaranteed 7 per cent per year till
1885 by Lehigh Valley Railroad.
Standard Consolidated Mining.—'This company was incorporated
under the laws of California, April 7,1877. The property embraces an
area contained within the surface lines of a parallelogram 1,200 by
1,500 feet, situated on the southern slope of Bodie Bluff, in the Bodie
mining district, Mono County, California. Title, United States patent.
Improvements consist of a 20-stamp steam pan-mill of 60-ton capacity,
valued at $100,000. Also a half interest in the Bulwer Standard Mill,
completed in January, 1880, at a cost of about $150,000. This is a 30stamp mill of 90-ton capacity, giving the Standard Company, with their
own mill, a reduction capacity of over 100 tons per day,
There are two
sets of steam hoisting works, one costing $5,000 and the other something
over $100,000.
The total number of tons of ore extracted and reduced
up to Jan. 1, 1880, was 56,000, the yield from which being $3,360,000,
au with the exception of about $200,000 being in gold; the ore averages
$60 per ton. Cost of mining, $7; milling, $5 per ton. The average
monrnly product recently has been $130,000. Of the total product of
the mine stockholders had received in dividends to January 1, 1880,
$2,017,776. The entire width of the claim—1,200 feet—is said to be
seamed with well-defined parallel ledges, varying in width from two to
twenty-five feet. Office of compaay, San Francisco, Cal. President,
Daniel Coqk; Vice-President, M. R. Cook; Secretary, William Willis.
Financial Agdnts, Dickinson Bros., Bankers, 43 Exchange place, N. Y.
Sutro Tunnel.—Tunnel on Comstock Lode for facilitating mining oper¬
ations. New management elected March, 1880.
Annual report pub¬
lished in Chronicle of April 24, 1880. See V. 30, p. 249. (V. 27, p.
529; V. 28, p. 147, 224, 302; V. 30, p. 249, 432.)
United Stales Express— No reports.
United States Rolling Slock.—See reports, V. 26, p. 289; V. 28, p.
.
145.
Wells. Fa rgo d Company Express.—An
OOO was made in 1879. (V. 28, p. 18.)
Western Union
increase in capital to $6,250,-
with the
monopoly of tele¬
Telegraph.—On the practical consolidation
Atlantic & Pacific in 1878 the Western
Union had a
graphing business in the United States. In 1879 the American Union
opposition line wTas started under the auspices of Mr. Jay Gould. The
Western Union Co. divided up its surplus stock, making a scrip dividend
nf 17 per cent to stockholders of record June 20,1879. The last quarter¬
ly statement for quarter ending July 1,1880, had the following:
Surplus Apl. 1, 1880
$824,298
Net profits for the quarter ending June 30, estimating the
business for June (reserving amount sufficient to meet
the claims of the Atlantic & Pacific Telegraph Co.,
under existing agreement), about
1,201,185
Total
From which appropriating—
Interest on bonded debt
Construction, patents, <fcc
Sinking fund appropriations
Leaves a balance of
A dividend of 1 % per cent
li,
$2,025,484
$107,200
370,000
20,000—
497,200
$1,528,284
requires
717,560
Deducting which, leaves surplus, after paying dividend, of.
$810,714
From the annual report published in the Chronicle, V. 29, p.
379, the following was given for the fiscal year ending June 30,1879:
The revenues, expenses
Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Standard Consolidated Gold
Sutro Tunnel—Stock
[Vol. XXX.
notice of any error discovered in these
by giving immediate
Subscribers will confer a great favor
For
STOCKS AND BONDS.
and profits (after reserving amount sufficient
-
Rate per
Cent.
2**
3ia
75 ctfS*
When
Payable
•
5,000,000
6,250,000
1*4
7 g.
rr 0
3,920,000
961,308
^
m
^
m
s
6g.
Jan. i, 1.891
Feb. 15,1880
Mar. 1, 1880
July 15,1880
July 15,1880
May, 1902
M. & N. N. Y., Treasurer’s Office
May, 1900
M. & S. London, Morton, R.& Co March 1,1900
to meet the claims of the
Atlantic & Pacific Telegraph Co. under exist
iug agreements) were as follows:
$10,078,897
5,809,119
Revenues accruing to this company
Expenses chargeable to this company
$4,269,778
Net profits
From which there was applied—
For four quarterly dividends
For interest on bonds
For
Stocks—Lasti
Dividend.
m
Q.-F.
4
41,029,183
1,373,000
m
London.
New York, Office.
M. & S. New York and London.
New York, Office.
J. & J.
New York, Office.
Q.-J.
M. & N. N. Y., Union Trust Co.
m
i
and by
A. & O. N.Y., West. Union Tel.
April, 1880
J. & D. N. Y., Company’s Office. June 10, 1880
M’nthly N. Y., Company’s Office. June 12,1880
rn.mm.rn
7,000,000
Where Payable,
Whom.
Bonds—Princi¬
pal,When Due.
$2,295,304
430,528
40,056
sinking funds appropriations
$2,765,889
Leaving surplus of net revenue for the year
over divid’ds, int. and sink, f’ds appropriat’ns
$1,503,888
From which surplus there was appropriated—
For construction of new lines and erection of
additional wires
138,319
For purchase of
sundry telegraph stocks,
145,134
patents, &c
For payment of balance unpaid July 1,1878,
on account of purchase of Atlantic & Pacific
537,166— $820,620
Telegraph Co.’s stock
683,268
Balance
$4,269,778
balances of previous
years, is represented in the profits and disbursements of the company,
for thirteen years, from the date of the general consolidation—July 1,
“The^balance of $683,268, together with the
1866:
The surplus of income account July 1,1866,was
The net profits for thirteen years, from July 1,
1866, to June 30, 1879, were
$275,357
4Q,203,602
$40,478,959
Making an aggregate June 30,1879, of
During this period there was applied—
For dividends, interest, &c
Leaving
a
24,947,792
$15,531,167
surplus of
—which is represented by construction and purchase of new lines, stock
in other companies, &c.
The following statement shows the mileage of
lines and wires, number of offices, and traffic of the company, for each
year
from June 30,1866, to June 30,1879:
Miles of
Years.
Line.
37,380
46,270
50,183
52,095
54,109
56,032
62,033
65,757
71,585
72,833
73,532
76,955
81,002
82,987
Miles of No. of
Wire. Offices,
75,686
85,291
97,594
104,584
112,191
121,151
137,190
154,472
175,735
179,496
183,832
194,323
206,202
211,566
2,250
2.565
3,219
3,607
3,972
4,606
5,237
5,740
6,188
6.565
7,072
7,500
8,014
8,534
No. of Messages Sent.
Net
Receipts.
$
5,879,282
6,404,595
7,934,933
9,157,646
10,646,077
12,444,499
14,456,832
16,329,256
17,153,710
18,729,567
21,158,941
23,918,894
25,070,106
6,568,925
7,004,560
7,316,918
7,138,737
7,637,448
8,457,095
9,333,018
9,262,653
9,564,574
10,034,983
9,812,352
9,861,355
1878:
10,960,640
1879
-(V. 28, p. 277, 592; V. 29, p. 278, 379, 461, 632; V. 30, p
410, 568, 625.)
Receipts.
$
2.624.919
2,641,710
2,748,801
2,227,965
%532,661
2,790,232
2,757,962
2.506.920
3,229,157
3,399,509
3,140,127
3,551,542
4,800,440
193, 264,
@FedFRASER