Full text of Commercial and Financial Chronicle : March 13, 1880 : Investors' Supplement, Vol. 30, No. 768

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OP THE

QoMME^CIAL & f'lNANCIAL QhROKICLE.
[Entered according to act of ContreiRi

in the year 1880, by

NEW

YORK,

MARCH 13, 1880.

SUPPLEMENT

INVESTORS’

to

possess.

and the best

They are the basis of our present expansion
possible promise of a steady development in

the future.

or THK

&

the Librarian of Congress, Washington, D.C.]

Wm. B. Dika 4c Co., in the office of

jfmatwat (£,frronule.

RAILROAD COMBINATIONS AND THE PUBLIC.
The revival of business activity has given a new impulse

which

exhibit of the Funded Debt of to consolidations, leases, and other arrangements by
-States and Cities, and of the. Stocks and Bonds of Railroads and other railroad control is concentrated.
It is unnecessary to refer
Companies. The next number will not be issued until the last Satur
particularly to the more recent movements
day of April.
The Supplement is furnished without extra charge to all regular tion ; and to compute what proportion of the
subscribers of the Chronicle.
Single copies are sold at $2 per copy.
in the United States is under the formal or the practical
The Supplement contains a complete

in this direc¬
total mileage

WILLIAM

B.

Sc

DANA

CO.,

Publishers,

79 dk 81 William Street.

•

management of say a- dozen or a score of large “systems”
or central boards, would be a task more tedious than ini/LK

.

structive.
INVESTORS' SUPPLEMENT.
^
The fact, however, is notorious ; and the problem of
We furnish our readers to-day with the first number of
our new Supplement.
Its preparation has consumed much holding in check the aggrandizing and autocratic tenden¬
more time and labor than we anticipated.
Even now we cies in railroads, occupies one of the foremost places in the

OUR

quite conscious that our work is far from perfect. The
subject is such a comprehensive one, and calls for so many
and such varied details, that months more of investigation
will be required to bring the work up to the standard we
propose. And yet we know we do not claim too much in
saying that even as it is now issued, it is a wonderful maga¬
zine of facts, carefully analyzed, systematically arranged,
and indispensable to every dealer and investor.
A feature of the utmost importance to our readers is
the connection which the Supplement has with the Chron¬
icle.
The usefulness of the one is inseparable from the
facts contained in the other.
This is a point which some
do not sufficiently appreciate, and we are led therefore to
•call special attention to it. Every week the Chronicle

-are

subjects investigated and discussed. State regula¬
by repressive statutes has been attempted unsuccess¬

list of
tion

moral suasion, by concentrating public opinion, has
had trial in a single State ; legislative committees have
taken testimony and made reports on the subject, which
have, in due course of time, been commended to a similar
committee for the same purpose. But as State action,
unless concurrent, falls powerless on reaching the Stated
lines, the more general conclusion thus far held is that the
whole subject is one for government regulation only.
To
turn it over, therefore, to the Federal Hercules, together
fully

;

far as most
people who discuss the railroad problem have as yet pro¬
with the other hard tasks of the

day, is

as

gressed with it.

We cannot help noticing, however, one lesson which
to railroad and financial
the substance of all leases, experience has effectually taught the whole country—that
rates are neither to be reduced as the public may desire,

will devote from four to six pages
news

The whole

and facts.

or

-made to each item

will there be given, and a reference
by page and volume in the Supplement,

under the bond

stock it affect

mortgages and reports
or

>

or covers.

the subscriber not only has the recurring Sup¬
plements, but in addition to these, 250 to 300 pages of
-explanatory railroad news, actually made a part of the
.Supplement,, by references to it in the foot notes as stated.
We, of course, make no extra charge for the large
making to our paper. Our sub¬
scribers will receive the Supplement gratis, as heretofore.
We

are

we

are

enabled to

now

promise this by reason of our constantly-

increasing subscription list, especially rapid
entitled to

during the last

consider part owners, and
share from time to time in our success. It will

few months.

Our readers

we

gratify friends here to know that the foreign list of the
Chronicle is equally prosperous.
We send more papers
abroad than probably any other office in this city, and
there is not a civilized country in the world where we are
without readers. These facts we mention, not in a boasting
spirit, but simply as a piece of information all are entitled




combinations to be

prevented, by the easy resource of

law for such purpose. The largeness and im¬
portance of the problem, as well as its exceeding complex¬
ity and difficulty, are now pretty generally recognized.
There is no other equally so, unless; it be the problem of
converting politics from a trade into something in which
the best classes shall exercise a befitting influence.
Hence
there is less outcry for haste than there was.
But unfor¬
tunately the subject is commonly treated too much as if
discussion about the particular end to be sought were
closed, and that the only remaining doubt concerned the
means for reaching it.
It is quite generally assumed that
railroads are to be repressed ; that consolidations and
leases are making them increasingly dangerous to the gen¬
eral welfare. It will not be untimely, therefore, to exam¬
ine somewhat the validity of the above assumption.

Thus with passing

each year

^additions

nor

a

First of all

by the apparently plausible view
these great railroad corporations as a corThis is a yiew in which it is said the citizen

we are

which looks upon
r

opting

/

power.

met

2

INVESTORS’ SUPPLEMENT.

[Yol. XXX,

capacity as such, has a deep concern in resisting average of 3-06 cents per ton per mile on freight; in 1870r
their growth, lest they become politically dangerous to the 1*98 cents; in 187S, 0-85 cents, this last being a reduction
State.
Such an idea finds its strength in the undeniable or 57 per cent in eight years.
New York Central chargesless than one-half the rate of 1870 and not mucli more
fact that corporations have been guilty of corrupting legis¬
lators, and it is naturally argued that the more concentrated than one-fourth that of 1865. Lake Shore and Pennsyl¬
the power the more controlling will be the influence.
But vania rates have declined over one-third since 1873. These
one or two preliminary facts should be remembered.
And are some notable instances of what is undoubtedly the rule
first of all, as making this evil possible, the people have that in general there has been a steady decline in trans¬
been guilty of choosing those who were corruptible, and so portation rates, in part because of the decline in cost of
long as this is done corrupting agents will be found. .The working and in part also because of the competition which
past has not proved that such agents have been solely or is not wholly extinguished (as is assumed by some) by any
primarily found among our railroad corporations. Evil forces consolidations or compacts; but, after allowing for theseare of course more numerous now in this advanced and
influences, the greater part of the decline will, we think,,
complex state of civilized life, but they were always pres¬ generally be admitted to flow from the very eoonomies
ent and ever have been the spectre of the hour.
We which combinations facilitate.
It is possible, nevertheless, for some to claim that even if
cannot see that they differ much in influence from one age
to another ; they wield more capital to-day and so the cor¬ the public ge£ all the benefit of railroad improvements and
rupt legislator has a correspondingly higher price. He is economies, those would be greater had no consolidations
like the lawyer who guages his fee by the purse of his and leases ever been made and the railroad
systems” not
But such a claim can always be made, and
been formed.
client.
Further, it will be admitted that there is no
instance of a corporation going outside its own business in to test it conclusively is impossible, for we can never show
attempting to influence legislation. They have shown no what would have happened if the conditions had been
disposition to acquire political power. There is not a shred in some way different. We cannot prove that, had
of evidence that the most ambitious of the so-called railroad the links remained separate, the public would not have
kings has ever thought of any other empire than a consoli¬ been still better served ; nor, on the other hand, can we
dated transportation line.
This cry, then, about danger to prove that the roads would not have remained feeble and
the State, through consolidations, appears to have little costly implements.
The development of the roads and of
force at present ; and could have no force if the people the country have gone on together; to separate either
from the other in analysis is impossible ; had the links not
chose to elect honest men, not partisans, to office.
On the other hand, that there are advantages to the become a chain the whole development might have been
public in such combinations is undeniable. When con¬ different, for all that can be shown. To belittle the part
solidation began in this State, in 1853, the Central* was the roads have served, or to overlook the fact of their
formed of ten links, and to go from river to lake required amenability to the economic laws which dominate every¬
passing over five or six independent roads. It is not many thing, is easy and may be natural; but it is not a part of
years since the journey to Chicago, over the same route, good reasoning and can never help a wise direction of the
k
^
required -passing over four roads instead of one. So be¬ working out of the case.
Nor can we reason on the subject without recognizing atween Boston and Albany, New York and Harrisburg, New
York and Hartford, were formerly two roads instead of view which is seldom mentioned : that there may be, and
The advantages' to passenger travel, in ticketing, cer¬ probably is, some subtle law of evolution governing the
one.
tainty of connections, freedom from changing cars, increase whole. Why do the railroads consolidate ? To say that
of speed, improvements in rolling stock and road-bed, check¬ it is because managers know they can thus increase finan¬
ing of baggage, &c., are manifest. Dispatch, certainty, and cial strength, reduce expenses, regulate competition, etc.,
responsibility in transportation business have also been is only to expand the question without answering it—to
increased by uniting the links. Whence, except through state the effects without finding the link between them and
Plants grow because a law of their nature
this change, have come the greater “ speed, comfort, and the cause.
safety”—advantages which all through lines claim in ad¬ prompts; may it not also be true that capital joins capital
vertisements, and which are none the less valuable although. in tacit obedience to a law which has made such union the
enjoyed without inquiry about their source. If these flow condition of success?’ If so, nobody is responsible, for
directly from “ consolidation,” then consolidation must nobody is at liberty to disobey. We may assume an
necessarily, pro tanto, be a good thing. Furthermore, and analogy in the fact that while each individual man is ain connection with such combinations, appear straightened free agent (under some inevitable limitations) to do his
lines, well-ballasted road-bed, stronger bridges, the use of own will, he has no power over the rest; each working hissteel rails, better rolling stock, and increased facilities for own will, the resultant is something in which each one’seconomy in a hundred ways.
That these improvements volition is inappreciably small—each one has been lost in.
are made possible, or at least greatly facilitated, by consol¬
the movement of the mass.
In other words, each hasidation, must be admitted. “ Combination on fair terms,” obeyed a law without knowing it.
Could Mr. Vanderbilt
wrote Mr. H. W. Tyler, railway inspector to the English or Mr. Scott or any other of the managers avoid consoli¬
Board of Trade, to that Board, in 1871, “must, under dating and kindred operations if he would ? Could any
good management, be advantageous to the amalgamating critic avoid it, in their place ? If not, then they too are
“
companies, in so far as it contributes to unity of interest, obeying a subtle law which is above them.
“
The point of this view of the case is its suggestion
economy in working, control over traffic, and avoidance
“
of competition.” It is a universal law that by doing whether that can be so terrible which is natural and fol¬
business on a vast scale it becomes practicable to effect the lows out, in its development, the lines on which it is decreed
economies in purchases and operating expenses, and it is to run by the nature of things.
If this is a natural pro¬
these conditions which also make low rates possible.
cess, may we not be wiser to direct it and order our move¬
But the roads might reduce their expenses without a ments so as to fit it successfully than to try suppressing it ?
corresponding reduction in rates. The test of whether they We could not change the color of grass if we tried. But
do this is supplied by the reports of the largest consolidated it does not follow that we must submit to railroad su¬
in his

_

“

companies.




In 1865, the Michigan Central charged

an

premacy over

the State as being the inevitable.

The rail-

Makch, 1880.]

just said, is subject to the law which, by the supposition, governs its development. If so,
that a railroad conference in Saratoga is, economically,

road,

3

INVESTORS’ SUPPLEMENT.

as

the popular idea

likely to be affected by the fact—as stated by Mr. Wood,
and freely admitted in these columns heretofore—that

investment
is increasing in this country.
There are probably a
another partition of Poland, is mistaken, and the imperial¬
are disposed to insist upon
ism is only a misleading phrase.
"Whether the process is large number of persons who of some
high security, at the sacrifice
portion of profit, if
to end in railroad management by the government is no
need be; and although this may not be a fact weighty
better known probably to the “ kings ” than to the people;
enough to demonstrate that the lowest-rate refunding
but may we not safely leave the answer to time, with less
bonds at present discussed will be successful, it is a fact
anxiety about it than is generally felt ?
which cannot be overlooked in an inquiry about the prob¬
able competition for the best securities.
EFFECT OF AN A CTIVE MONEY MARKET ON
On the other hand, in considering the probable supply,
TIE ST CLASS SECURITIES.
we find several very distinctly presented considerations of
Perhaps few questions are of greater present interest
governing importance. One is that the choicest of all, the
than those which relate to the influence of our rising rates
bonds of the Government, unwillingly parted with by the
for money upon the market value of investment securities.
foreign holders of them as the alternative of gold, are, and
Succeeding a long term of dullness without, and conse¬
are known to be, in process of reduction; nothing that
quently dullness within, the money market is permanently can be now foreseen can suspend this reduction, and their
tending towards greater activity, while at the same time
quality is appreciating at the same time that their quantity
higher prices for securities, and a greater demand for them, is diminishing.
They bring higher prices than last year,
are also evident.
The most practical form which the in¬
because they are growing choicer and are worth more.
Of
quiry takes is, therefore, are investment securities to rule
unquestionable State bonds, roughly speaking, there are
as^high, or higher, hereafter, and, if so, for what reasons ? not more than 150 millions; they also are in course of
In looking at this, we should first recognize that interest
reduction, and there is no reason to look for new issues, so
rates, which have rallied from their abnormal depression—
that the same considerations, in a less marked degree,
due to
the time, the country was
the fact that, for

the

amount of

doing

capital seeking permanent

be expected to rule again at a apply to them as to governments. The unquestionable
county and other local bonds we could not undertake to
near approximation, at least, to their old place before the
reckon, but the cloud under which they rest as a class, and
panic. To predict exactly the times and rates is not our
comparatively, is notorious. New issues in this class may
province or our intention; it is enough to note distinctly be
expected here and there, but the portion of such new
that the error involved in reasoning about the future of
issues, as of the old, which will rank as desirable, is com¬
interest from recent experience only—an error we have
paratively small; this portion, also, must rule the higher
repeatedly cautioned our readers against—is already made
by being selected. . As to railroad bonds, as railroad
apparent! As far as it goes, a higher rate is opposed to at securities are the class in which has been the largest im¬
least an advance in high-priced securities, because indi¬
provement, it is impossible to speak definitely about the
cating an increased demand for capital otherwise. But
prospect of new lines and additional loans by old ones.
there are several other conditions we may mention which
There must be completion of unfinished work and extension
operate strongly in the opposite direction.
of established lines; there must also be the carrying ot*
One is, that the improvement in business has largely in¬
of projects merely inchoate when 1873 struck; still, it is
creased the capital seeking investment. Old burdens, also,
reasonably safe to conclude that we shall wait some years
have been sloughed off ; obligations have been discharged
longer before seeing any large competition from purely
or compromised; old investments, which were long a drain,
loans.
Bonds of established roads, on the other
have been abandoned.
Many securities, for years yielding
hand, are higher, because they are obviously worth more
nothing, have become interest-bearing. The returns thus than
they were. Traffic is increased ; industry is again
secured and saved are a constant fund for re-investment.
astir ; the roads are in a better condition every way, and
Besides that, things are moving again, so that production
cannot reasonably look for anything which will dis¬
is yielding more surplus.
This has been especially true turb them. Against this fact, the greater outside demand
the past season, when, the large European demand for our
for capital is a force that may be called a tendency, but its
products has secured high prices for everything. But, effect can hardly be appreciable. The “boom” has car¬
with business active and profitable, the nation’s income
ried with it much driftwood, as it always does ; but railroad
during succeeding years should largely exceed that of
property has advanced in price, aside from all speculative
Then again, refunding, which must influence, because it has advanced in substance. The secu¬
any previous period.
begin in 1$8I, is leading and will continue to lead many to
rity which sells for more does so because there is more in it.
sell out their governments and re-invest the proceeds, not
We find, then, that although there is a greater commer¬
waiting for the bonds *o fall due. For all these reasons cial and industrial demand for money, and a consequent
there are and will be more buyers of first-class bonds than
higher interest rate, there is, nevertheless, a larger num¬
there were, that is more competitors for them.
ber of buyers seeking permanent investments, as well as
Nor can we safely forget, in considering the probable
greater ability to spare the funds. Thus the demand is
demand for securities, the competition from abroad. As
heightened, and this movement yet awaits the revival of
everybody knows, Europe, especially Great Britain, has the
temporarily suspended foreign demand. On the other
been a buyer rather than a seller of merchandise here for
hand, it appears that there is a reduction in the supply of
several years, settling her balances in freights, specie and
securities, particularly of those occupying the first place,
The bad harvests and industrial pressure
our own bonds.
while there is this growing disposition and ability to dis¬
which have forced her to this course cannot be counted to
criminate between securities in point of merit.
continue, for Providence has given us here no warrant of
The above general suggestions, never assuming further
exceptional prosperity. There are signs that a change in than to help to guide investors by stimulating and dis¬
the trade movement is already beginning, and when the
creetly directing their own inquiries, are submitted as bear¬
foreign demand for our securities sets in again, as it
ing upon the question about the future of investment
sooner or later must, it will be a large factor in increasing
the competition for them.
Moreover, this competition is prices, raised in the beginning of this article.

nothing but exist—must




new

we

INDEX

TO

NAMES

OF

RAILROADS.

changes which are constantly taking place in the titles of various railroad companies, by reason of
&c., it frequently occurs that much difficulty may be experienced in looking up the name of a
company in the tables of this Supplement. To obviate this difficulty, and to facilitate reference to any name, whether
old, the following index has been prepared:

With the

numerous

foreclosures, consolidations,
former
aew or

NAMES
•

UNDER

WHICH COMPANIES
MAY BE SOUGHT FOR.
-

NAMES

NAME8 UNDER WHICH THEY WIL
BE FOUND IN THE “SUPPLEMENT
TABLES.

NAMES

UNDER WHICH
COMPANIES
MAY BE SOUGHT FOR.

UNDER

WHICH THEY

BE FOUND IN THE

WILL.

“SUPPLEMENT**

TABLES.

Wabash St. Louis & Pacific.

Alabama & Tennessee River
Selma Rome & Dalton.
American Dock & Improvem’t Co.. .Central of New Jersey.
Androscoggin & Kennebec
Maine Central.

Lake Erie Wabash & St. Louis
Leavenworth Lawrence & Galv
Leeds & Farmington

Arkansas Valley
Atlantic & Great Western
Atlantic & Gulf
Atlantic & Pacific

Denver & Rio Grande.

Lehigh & Wilkesbarre Coal Co

Kansas City Lawrence & Southern..
Maine Central.
Central of New Jersey.

New York Pennsylvania & Ohio.
Savannah Florida & Western.
St. Louis & San Francisco.

Long Dock Company

New York Lake Erie & Western.

Baltimore Short-Line

Marietta & Cincinnati.

Macon & Western

Bangor & Piscataquis

European & North American.

Massawippi

Bay City & Saginaw

Belfast & Moosehead
Bellefontaine & Indiana
Beloit & Madison
Berks County
Boston Hartford & Erie
Buffalo & Erie
1

Cairo Arkansas & Texas
Cairo & Fulton
California & Oregon
Camden & Amboy

Cape May & Millville
Central of Long Island
Central Vermont

Chicago
Chicago
Chicago
Chicago
Chicago
Chicago
Chicago

& Great Eastern
& Grand Trunk
&
&
&
&
&

Illinois River
Michigan Lake Shore
Milwaukee
Springfield
Southwestern

Louisiana & Missouri

Memphis & Ohio..

Flint & Pere Marquette.

Maine Central.
Cleveland Col. Cin. &

Davenport <fe Northwest

Holly
Florence El

Dorado & W

Flushing & North Shore
Oalena & Chicago Union
Grand River Valley

Newark & New York
New Bedford Railroad
New Jersey RR. & Transportat’n
New Mexico & So. Pacific
New Orleans Jackson & G. N
New York & Oswego Midland
New York & Rockaway
Newtown & Flushing
Niles & New Lisbon
Norfolk & Petersburg
Northern Cross
North Missouri
Northwestern North Carolina

Flushing North Shore & Central.

Columbus Chic. & Indiana Central.
Grand Trunk (Canada).
Chicago & Alton.
Chicago & West Michigan.
Chicago & Northwest.
Illinois Central.
Chicago Rock Island & Pacific.

Lehigh Valley.

Michigan Central.

Atchison Topeka & Santa Fe.

Flushing North Shore & Central.
Chicago <fc Northwest.
Michigan Central.

Chicago Milwaukee & St. Paul.
Flint & Pere Marquette.
New Haven & Northampton.
International & Great Northern.
Wabash St. Louis & Pacific.

Chicago Burlington <fc Quincy.

Indianapolis Decatur & Springfield.

Indianapolis Bloom. & West. Exten.Champaign Havana & Western.
Indianapolis & Cincinnati
Indianapolis Cincinnati <fc Lafayette
Jeffersonville Madison & Ind.
Indianapolis & Madison
International & Great Northern.

Chicago & Northwest.
Chicago & Northwest.
Atchison Topeka & Santa Fe.
Chicago & Lake Huron.

Chicago Milwaukee & St. Paul.
Chicago & Northwest.
Chicago Milwaukee & St. Paul.
Chicago Rock Island & Pacific.

Michigan Central.
Lake Shore & Michigan Southern.

Port

Royal & Augusta.

Maine Central.

Chicago Milwaukee & St. Paul.

—

..Atchison Topeka & Santa Fe.
...Chicago Burlington & Quincy.
Hannibal & St. Joseph.
Wabash St. Louis & Pacific.

Chicago Burlington & Quincy.
Burlington & Missouri in Nebraska..
.Chicago & Northwest.

..

Joseph & Denver City
Joseph & Pacific

St. Joseph & Western,
St. Joseph & W’estern.

Louis Jacksonville & Chicago
Chicago & Alton.
Louis Kansas City & Northern...Wabash St. Louis & Pacific.
Louis Rock Island & C
Chicago Burlington & Quincy.
Paul & Chicago
Chicago Milwaukee & St. Paul.
Paul & Pacific
St. Paul Minneapolis & Manitoba..
Paul Stillwater & T. F
St. Paul & Sioux City.

Sandusky City & Indiana
Sandusky Dayton & Cincinnati

San Francisco Oakland & Alameda
Savannah Albany & Gulf.
Schoolcraft & Three Rivers
Scioto & Hocking Valley
Sioux City & St. Paul
Smith town & Port Jefferson
South Pacific
South Side, (L. I.)
South Side (Va.)
Southern Georgia & Florida.
Stanstead S. & Chambly
Steubenville & Indiana
..

Sunbury & Erie
Tebo & Neosho
Tennessee & Pacific
Toledo & Illinois
Toledo Logansport & Burlington
Toledo Peoria & Warsaw
Toledo & Wabash
.

.

Union & Logansport
Union & Titusville.

Chicage & Alton.

Cincinnati Sandusky & Cleveland.
Cincinnati Sandusky & Cleveland.

.Central Pacific.

Atlantic & Gulf.
Lake Shore &

Michigan Southern..

Marietta & Cincinnati.
St. Paul & Sioux City.
Long Island.
St. Louis & San Francisco.
Southern of Long Island.
Atlantic Mississippi & Ohio.
Atlantic & Gulf.

Vermont Central.
Pittsburg C. & St. Louis.
Philadelphia & Erie.
Missouri Kansas & Texas.
Nashville Chattanooga <fe St. Louis..
Wabash St. Louis & Pacific.

Columbus Chic. & Indiana CentraL
Wabash St. Louis & Pacific.
Wabash St. Louis & Pacific.

Columbus Chic. & Indiana Central..

.Pittsburg Titusville & Buffalo.

Virginia Central
Virginia & Tennessee

.

Chesapeake & Ohio.
Atlantic Mississippi & Ohio.

Wabash & Western
Waco <fc Northwest

Delaware Lackawanna & Western.

.Lafayette Bloomington & Muncie...L&ke Erie & Western.

Royal

.

Detroit Lansing & Northern.
Burlington Cedar Rapids & Nortli’n.

Kalamazoo Allegan & Gr. Rapids ..Lake Shore & Michigan
Southern.
Kalamazoo & Schoolcraft
Lake Shore & Michigan Southern.
Kalamazoo & South Haven
Michigan Central.
Kalamazoo & White Pigeon
Lake Shore & Michigan Southern.
Kansas City & Cameron
Hannibal & St. Joseph.
Kansas City St. Louis & Chic
Chicago & Alton.
Kansas City Topeka & Western
Atchison Topeka & Santa Fe.
Kansas & Nebraska
st. Joseph & Western.




Missouri Pacific.

Rochester & Northern Minnesota

Flint & Pere Marquette.

City.

Peoria Decatur & Evansville.

Republican Valley

Hastings & Dakota
Holly Wayne & Monroe
Holyoke & Westfield

*

St. Paul & Sioux

Burlington & Missouri in Nebraska.
Chicago Burlington & Quincy.

uincy & Warsaw

Missouri Kansas & Texas.
New York New Haven & Hartford.

Lackawanna <fe Bloomsburg

Detroit Gr. Haven & Milwaukee..

Pittsburg Titusville & Buffalo.

'

Wabash St. Louis & Pacific.

Jackson Lansing & Saginaw
Jamestown & Franklin
Joliet & Chicago

Wabash St. Louis & Pacific.
Richmond*& Danville.

Baltimore & Ohio.

Quincy Alton & St. Louis
iiincy <fc Palmyra
uincy & Toledo

Ffannibal & Central Missouri
Harlem & Portehester

.

.Chicago St. Louis & New Orleans.
New York Ontario & Southern.
Long Island. '
Long Island.
Cleveland & Mahoning Valley.
Atlantic Mississippi &Ohio.
Chicago Burlington & Quincy.

Portland & Kennebec
Prairie du Chieu
Pueblo & Arkansas Valley

St.
>t.
St.
St.
St.
St.
St.
St.

Jersey.
Fitchburg & N. B.

Co.United New Jersey RR. & Canal Go's
Atchison Topeka & Santa Fe.

Oakland & Ottawa River.
Oil Creek
Omaha & N. Nebraska
Omaha & Southwestern
Ottawa Oswego & Fox River

Port

Great Western (Ill.).

International
Ionia & Lansing
Iowa City & Western
Iowa& Dakota
Iowa Midland
Iowa & Minnesota
Iowa South. & Missouri North

Central of New
Boston Clinton

Chicago & Northwest.

Eel River.

Chicago Burlington & Quincy.

.Kansas City Fort Scott & Gulf.
New York & Greenwood Lake.
Port Jervis & Monticello.

Northwestern Union
Northwestern Virginia

Detroit Grand Haven & Milwaukee,
Lake Shore & Michigan Southern.
Detroit Grand Haven & Milwaukee.

Illinois Grand Trunk
Illinois & Southern Iowa
Indiana & Illinois Central

.,

Pacific of Missouri
Pekin Lincoln & Decatur
Peninsular (Mich.)
Plain View.
Pleasant Hill & De Soto
Port Huron & Lake Michigan

Wabash St. Louis & Pacific.

Houston & Great Northern

Chicago St. Louis & New Orleans.

Missouri River Fort Scott & Gulf
Montclair
Monticello & Port Jervis

Vermont Central.

Easton & Amboy
.Lehigh Valley.
East Tennessee & Georgia
East Tenn. Virginia & Georgia.
East Tennessee & Virginia
East Tenn. Virginia & Georgia.
Erie
New York Lake Erie & Western.
Essex
Eastern (Mass.)
Evansville & Crawfordsville
Evansville <fc Terre Haute.
Evansville Henderson & Nashville..Louisville & Nashville.
Flint &

Chicago & Northwest.
Vermont & Canada.

Mississippi Central

Central Pacific.
United Companies of New Jersey.
West Jersey.

Kentucky Central.

Decatur & East St. Louis
Delano Land Co
Detroit & Bay City
Detroit & Eel River
Detroit & Milwaukee
Detroit Monroe & Toledo
Detroit & Pontiac
Dixon Peoria & Hannibal

Chicago Milwaukee & St. Paul.

Southern Minnesota.

Missisquoi

St. Louis Iron Mount’n & Southern.
St. Louis Iron Mount’n & Southern.

Sioux City <fc Nebraska.
Chicago & East. Illinois.^
Chicago Milwaukee & St. Paul.

Chicago & Northwest.
Michigan Central.
Lake Shore & Michigan Southern..

Milwaukee & Western
Minnesota Central
Minnesota Valley

New York & New England.
.Lake Shore & Michigan Southern.

Cincinnati & Baltimore
Marietta & Cincinnati.
Cincinnati & Chicago Air-Line
Columbus Chic. & Indiana Centra].
Cincinnati & Indiana
Indianapolis Cin. & Lafayette.
Cin. Indianapolis St. Louis & Chic..Indianapolis Cin. & Lafayette.
Cincinnati Hamilton & Indianapolis.Cincinnati Hamilton & Dayton.
Cleveland Columbus & Cincinnati ..Cleveland Col. Cin. & Indianapolis.
Cleveland Painesville & Ashtabula.. Lake Shore & Michigan Southern.
Cleveland & Toledo
Lake Shore & Michigan Southern.
Columbus & Indiana Central
Columbus Chic. & Indiana Central.
Columbus & Indianapolis Central.. .Columbus Chic. & Indiana Central.
Council Bluffs & St. Joseph
Kansas City St. Joseph & Council B

<

Louisville & Nashville.

i

Michigan Air-Line
Michigan So. & North’n Indiana

Chicago & Northwest.
Philadelphia & Reading.

Dakota Southern
Danville & Vincennes

Central Railroad & Bank Co., Ga..
;.. .Connecticut & Passumpsic.

;

Menominee River

Indianapolis.

Covington & Lexington

Chicago & Alton."
Wash. City Va. Mid. & Gt. So uthem

Lynchburg & Danville

Wabash St. Louis & Pacific.
Houston & Texas Central.

West Wisconsin
Western Pacific.
Western Union Railroad
Wichita <fe Southwestern
Winona & St. Peter

Chicago St. Paul & Minneapolis*
Central Pacific.

Chicago Milwaukee & St. Paul.
Atchison Topeka & Santa Fe.

Chicago & Northwest.

/

STOCK AND BOND

TABLES.

NOTES.

information concerning InvestijWHFr|te»ttjP^published from week t*
the foot of the tables. Annual reports aiwfp trtack-faced figures.
each month, as soon as the offloUfcJ*1>ebt Statement” is issued.
and a list of general quotations is published monthly.

expressly intended to be used in connection with the
week in the Chronicle—to which an index is furnished in the remarks at
A description of U. S. Government Securities is published in the Chronicle
Prices of all active Stocks and Bonds are quoted weekly in the Chronicle,
The following will give explanations of each column of the tables below:
These tables ore

The following “ couqon, Br. for; “ Branoh,” guar,rix .
for abbreviations frequently occur, few
but
be registered.
which the earnings are based; opposite bonds, the miles cover e<I
by the mortgage.
Size
Par Value.—These figures are dollars, showing the denominations or par value. The figures " 100, Ac.,” signify $100 and larger.
Bate Per Cent.—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. A July; F. A A., Feb. & Aug.; M. A 8., March A Sept.; A. & O., April A Oct.; M. & N., May A Nov.; J. A IX,.
June A 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
Description.—Railroads leased to others will sometimes be found under the lessee’s name.
M. toi “mortgage.” s. f. for “ sinking fund,” 1. gr. for “ land grant,” reg. for “ registered,” coup,
may
guaranteed.” end. for “ endorsed.” “ Coupon*” indicates that the bonds are coupon,
Date of Bonds.—The date of issue is referred to in this column.
Jfiles of Road—Opposite Stocks, this means the miles of road operated, on
“

7597878811
or

Subscribers will

7j!ifl8

STATE SECURITIES.
great favor by giving Immediate notice of any

confer a

For

1876
1876

Chatt. (C) ($1,000,000 )
Educational funded debt
New bonds for funded “ obligations ”
Arkansas—Funding bonds of 1809 and 1870..
Funding Bonds 1870 fHolford).....
Levee bonds (or warrants)
Old unfunded debt,

Ten year

including interest

b’ds, Act May 29/74

Railroad. .
Railroad

To Memphis & Little Rock
To Little Rock & Foil; Smith
To Little Rock, Pine Bluffs &
To Miss., Ouachita & Red

N. Orleans RR.
River Railroad
To Arkansas Central Railroad
State scrip

California—Soldiers’ relief

.

'

State capital bonds
Funded debt bonds of

1873

Connecticut—War bonds, 20 year.... 1
War bonds, 20 year
>
do
not taxable;20 year.. )
New bouds, coupon, 10-20 year
•

Coqpon
or
regist’d.

Disl.'pf Columbia- Perm’t imp’t, gold, coup
Pennanent improvement bonds, coupon..
Bds for fund’g (Act Juue 10, ’79) coup, or reg.'
Fund, b’ds (U.S.guar.,Acts June,’74<fcFeb./75)
Market stock, coupon

Water stock bonds, coupon
Wash, fund’g, gld,($660,000

M.AN.,1902).
Florida—State bonds
Consolidated gold bonds ($300,000 are 7s)....
Loan to Jacksonville, Pensacola A Mobile RR.
Georgia—Atlantic A Gulf Railroad bonds
Bonds, act of Mar. 12, ’66 (renewal W. & A.)..
Quarterly gold bonds, act of Sept. 15,1870..
are

’72
for funding (Act Feb. 19, ’73)

Bonds, act of Jan. 18,
Bonds

1876

for Ala. &

1880
1869 to ’70
1870

endorsed bonds...
Bonds exchanged for endorsed RR. bonds—
New funding bonds, small
*
Bondstofund coupons on

Illinois— Refunded stock bonds
.Indiana—Bonds, coup, (pay’ble after
School fuud bonds (non-negotiable)
Iowa—War and defense bonds
School fund bonds

$100Ae.
100 Ac.
100 &c.

Apr.1/84)

1876
1877
1878

538,000
827,000

i,ooo

1,000

50 Ac.
50 Ac.

1,000

100 Ac.

i.ooo

1000
500
500 Ac.

1,000
1,000

250Ac.

1,000
1,000

500 Ac.

1847
1879

1,000

1861

....

1,268,000
1,986,773

about $90,000,000, and

latest official assessments:
Real Estate.

1879
The assessed valuation of

228,987,700




1900

do

do

*1884*
*1899*

-

1900
1900
1900

April, 1900
1883
1885
1893
Jan. 1, 1883
Jan. 1, 1884
Oct. 1, 1885

Mayl, 1897
July 1, 1891.
July 1, 1891
July 1, 1899
Aug. 1, 1924
July 26, 1892
ct. 1.1901 to ’OJ
1892 & 1902

•

•

....

-

Jan.

1,4903

1881 and

1893

May, 1886
Oct., 1890

July, 1892

April 1, 1886
July 1, 1896
Jan. 1, 1889
Jan. 1, 1882
At will.

April 1, 1889

July*!*,*

1881

provided for by Congress, and ther
raised to the full limit of $15,For five years past real estate was assessed as follows: Rata.
Tax
Real Estate.
Personal.
,..$93,452,684
$
1*50

and sinking fund on the 3-65 bonds are
amount of these bonds will probably be

000,000.

1-50
95,929,401
15,419,873
17,239,051
1*50
97,609,890
87,491,442
13,363,920
1*50
87,980,356
1*50
—(V. 26, p. 599; V. 27, p. 303; Y. 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 th»
consolidated bonds are receivable for taxes. Real and personal property
assessed in 1878 at $29,471,227; tax rate. 9 mills. The Jacksonville Pen¬
sacola & Mobile Railroad loan is in litigation, and the State Supreme*
Court has decided that the State is.not bound for it. (V. 25, p. 212.)
Georgia.—The constitutional amendment in 1877 declared void several’,
issues of bonds and railroad endorsements. The Southern Georgia 4c
Florida Railroad has $464,000 of bonds endorsed, but pays interest.
Assessed value and tax rate have been:
Personal
Rate of Tax
Real
Years.
Estate.
Property. " per $1,000. Total Debt.
!*

$155,448,037
$106,307,847
$500
$8,005,500
146,036,806
99,816,944
5*00
8,447,500
140,153,250
95,506,280
5*00
10,644,500
5*00
10,444,500
tax rate 7*2 mills. The 1878...
134,635,886
91,585,832
3*50
1879
134,244,081
90,849,338
10,344,500
Personal. Tax Rate.
y 27 p 653; V. 28, p. 17.)
10
$29,842,103
Illinois.—The Illinois Central Railroad charter tax on earnings is
31,971,308
10 about $300,000. For 1879 the total assessed value by local assessors
32,366,893
7 was: Lands, $412,208,278; town and city lots, $177,567,098; personal

95,901,323

150

real estate is about 70 per cent of the true value.

value of taxable real estate
property* $11,421,431. The interest

District of Columbia.—The total assessed
lor 1880 was $87,980,356; personal

1899
1900-

•

10
J. A J. New York, Latham, A. A Co.
6
4121000
N. Y., Union Trust Co.
A. A O.
7
1,200,000
do
do
A. A 0.
7
1,000,000
do
do
A. A 0
7
1,200,000
do
do
A. A 0.
7
600,000
do
do
A. A 0.
7
1,350,000
5 A 8
1,353,120
Sacramento, Treasury.
7 g. J. A J.
95,500
do
do
7 g. J. A J.
500,000
do :
do
6 g. J. A J.
2,801,000
Hartford, Treasury.
J. A J.
6
877,000
do
do
J. A J.
6
1,318,500
do
do
A. A O.
6
1,741,100
do
do
M. A N.
5
1,031,000
6 g. J. A J. Wash, or N. Y., U. S. Treas.
3,995,000
do
do
J. A J.
7
670,000
do
do
J. A J.
5
1,092,300
do
do
F. A A.
3*65
13,504,900
do
;
do
J. A J.
7
150,000
do
do
J. A J.
7
423,000
do
do
6 g. J. A J.
1,830,000
N. Y., Importers’ A Tr. B’k.
7
350,000
do
do
923,100 7 A 6 g. J. A J.
8 g. J. A J.
4,000.000
F. A A. N. Y., Fourth National B’k.
6
> 589,500
do
do
J. A J.
7
3,600,000
do
do
7 g.
Q.-J.
2,097,000
do
do
J. A J.
7
307,500
do
do
A. A O.
8
700,000
do
do
J. A J.
7
542,000
do
do
J. A J.
6
2,298,000
State Treasury.
Jan.
4
200,000
J. A J. N. Y., Am. Exchange Bank.
6
300,000
N. Y., Winslow, L. A Co.
A. A 0.
5
510,000
J&.
Various
6
3,904,783
J. A J. New York, Kountze Bros.
7
300,000
State Treasury.
M. A S.
8
245,435

$61,812,088
61,892,881
55,713,115
55,351,488
32,613,686
7*2
—(V. 25, p. 161; V. 27, p. 15, 40; V. 28, p. 171, 276.)
California.—The State holds in trust for School and University funds
the $500,000 Capitol bonds and $2,204,000 of bonds 1873. Total valu¬
ation of property. 1879, was $584,578,036. against $586,953,022 in
1878. Tax rate. 1879, 55 cents per $100. against 63 in 1878.
Connecticut.—The debt of Connecticut was all created originally for
war purposes.
Assessed valuation and tax rate have been as follows:
Real
Personal
Tax Rate
Years.
Estate.
Property, per $1,000.
1876
$244,121,905
$107,663,564
$1*00
1877
J
238,027,032
106,379,945
150
235,412,691
99,970,163
1*50
1878
1875
1876
1877
1878

July 1,1906
July 1, 1906
July 1.1906-

Montgomery.
Y., Union Trust Co.

J. A J.

N.

^

1,985,955
261,500

old bonds, without any allowance for past-

property in 1880

J. A J.
J. A J.

Due.

and by

New York.
do
do

A J
A J
A J.

J.
J.
J.

7

1,886,000

Whom.

Payable

these Tables.
Principal—When

Where Payable

When

6
6
6

i;ooo;ooo

bonds, dated July 1,1876, bearing
2 per cent till 1881, then 3 per cent till 1886, 4 per cent till 1896, and 5
ue coupons.
Ser cent for last 10 years, for
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,
jrom which the following is condensed. The State’s railroad endorse¬
ments ignored were—East Alabama A Cincinnati Railroad bonds,
$400,000; Selma & Gulf Railroad bonds, $640,000; Montgomery &
Eufala Railroad bonds, $1,280,000; Selma Marion A Memphis Railroad
bonds, $765,000; Selma & New Orleans Railroad bonds, $320,000; 8 per
cents issued to Montgomery & Eufaula Railroad, $300,000; unpaid
interest on above, about $1,000,000. 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; V. 28, p. 199.)
Arkansas.—The State Supreme Court decided Levee bonds of 1869 and
1870 invalid. The State is in default for interest,’ except on the 10 per
cents of 1874 and secured sinking fund bonds issued under the law of
December, 1874. The total recognized debt is $5,813,627, and State
assets (land and sinking fund), $5,274,712. Assessed valuation of tax¬
able

2 Ac.
5
2 Ac.

$6,438,000

Alabama.—The State gave 30-ycar

following are the

Rate.

2,810,670

100 Ac.
1871
1838 to’39
1874
1875
1869
i,obo
1870
1,000
1,000
1870
1,000
1870
1870
1,000
1863
500 Ac.
1863
1870 & ’72
500 Ac.
1873
1863
1,000
1.000
1864
100 Ac.
1865
1,000
1877
500 Ac.
1872
100 Ac.
1873
100 Ac.
1879
1874
1872
1871 to ’73
1872
1871
1873
1870
1858 to’66
1866
1870
1872
1873

INTEREST.

Amount

Outstanding

Value.

explanations see notes above.

do

Size or
par

Date of

DESCRIPTION.

error discovered In

(V. 24, p. 40.)
$139,000 of 6 per cent war loan bonds.
Indiana made a compromise with her bondholders in 1846, giving them
State stock for one-half of their bonds and overdue coupons, and Wabash
& Erie Canal stock for the balance, about $7,500,000. The canal has
proved worthless, and the creditors claimed payment for their shares
from the State, valuation, 1879, all taxable property, $884,368,828,
against $850,616,987 in 1878. • Tax rate, 1*3 mills.
Iowa.—This State has a very small debt, and also very small town and
county debts. Assessed values (about one-third of true value) and tax
rate have been:
Personal Property Tax Rate
Total
Years.
Real Estate, and RR. Property, per $1,000,
Debit

property, $151,629,963.

Indiana.—There are also

1875
1877

1879

$294,313,368
302,277,661
303,381,498

$101,109,772
102,292,383

102,159,899

$3
3
3

$543,05ft
545,435.

545,435*

STATE

ti
Subscribers will confer
-

-

-

-

a

-

[Vol. XXX.

great favor by giving immediate notice of any error discovered in these Tables*
-

-

--

-

*

■■

DESCRIPTION.

Date of
Bonds.

For explanation see

of tables.

Size

■\

Amount

or

Value.

■

-■

-

SECURITIES.

outstanding.

Rate.

-

-

-

INTEREST.

.

When

Where

Principal—When

payable and by
whom.

Payable

*

Kansas—Bonds, 1861 to’(^funding, Ac
Bonds for various Stateylbuaapsea#,
Military loan
7•!?«'.:
Louisiana—Bonds, for relief oi£tate Treasury

1861 to ’69 $100&c.
1861 to ’75
1864 to ’65

1853

.

1,000
1,000
1,000

1870

Bonds funding coupons
do
to Boeuf A Crocodile Navigation Co...
do
to Mississippi A Mexican Gulf Canal..
do
school, held by 8t. 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
Marne—War loan bonds..:

1866
1870
1869
1857
1870
1871

500
100 Ac.

1,000
1,000
1,000
1,000
1,000
1,000

1874
1863
] Coup.
Bounty loan bonds
1
or
1863
do
do
1864
[ regisMunicipal war debt assumed
1868
J tered.
Maryland—Baltimore A Ohio Railroad, sterling
1838
r?hAAApAfl.1ra Ar. (Thin riATiAl,
1838
Railroads and canals
Various.
Eastern Shore Railroad
1839
Baltimore A Susquehanna Railroad
1837
Chesapeake & Ohio Canal
1870
Baltimore A Susquehanna Railroad
1839
Annapolis A Elk ridge Railroad
1839
Defense Bounty Loan.
1868
Deaf and Dumb
1870 A ’74
."
Asylum Loan
Maryland Hospital Loan, 10-15 years
1872 A ’76
Maryland State Loan
1872
Treasury relief loan, 10-15 years
1878
Massachusetts— Back Bay Lands Loan
1861 to’62
Coast Defense Loan
1863
Bounty Fund Loan
1863
1864
Bounty Fund Loan
ao
do sterling
1864
War Loan, sterling
1869
Troy A Greenfield Railroad loan, sterling
1858 to’61
do
do
home
1861 to '63
do
do
1871
sterling
do
do
1875
sterling
do
do
dollar bonds 1873 to’74
do
"
do
do
1875
Southern Yermont Railroad Loan
1860
Boston, Hartford A Erie Railroad, sterling... 1868 to’69
Harbor Land Improvement (5-20e)
1874 A ’76
Danvers Lunatic Hospital
1874 A ’77
Lunatic Hospital, Worcester....
1875-’76
New State Prisons, sterling
1875

Michigan—Two Million Loan

.100 Ac.
500 Ac.

1,000

500 Ac.
100 Ac.

48,000

80,000

260,000
48,000
70,000
2,500,000
875,000
11,781,761
385,000
307,000
2,330,000
2,826,900
1,995,555
2,436,666
155,615

....

500

888,000
200,000
4,379,500
4,000,744
999,944

1,000

1.000
500 Ac.
£100 Ac
£200
£200 Ac
500 Ac.
200 Ac.
£500

5,506,952
1,366,500
3,598,540
1,497,980
670,000
1,300,000
200,000
3,599,024
700,000

1,000
1,000
5,000
£200

1,000
1,000

value) have been

104,000
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

Personal

Property,

$94,586,003
"

Rate of Tax
per $1,000.

$39,246,313
39,997,287

97,483,242
97,567,623

41,131,187
43,700,545
—State funds hold $713,700 of the bonds.
101,229,734

626.

The interest tax

was

are

600,000

6

6

Total
Assets.

$5 50

$1,235,975

5 50
5 50
5 50

1,181,975
1,181,975
1,181,975

$119,475
116,875
94,275
181,776

5*2 mills before the constitutional amend¬

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
on her bonds.
(V. 28, p. 18, 42,173, 224, 526, 553, 624, 641; Y. 29, p.
18, 96, 277,330, 358, 631; Y. 30, p. 117.)
Mains.—The net debt January 1,1880, was $5,848,900. The
sinking
fund $1,166,159, January, 1880, reduced the total debt to a net
amount of $4,682,741.
Tax rate in 1877, 3 mills. For 1878, 3% mills.

Maryland.—The State has largely assisted canals and railroads, and

holds $3,585,327 of stocks ana bonds ranked as
productive; the State
also holds $25,323,304 in unproductive securities. Assessed valuation
and tax rate have been:
Real and
Tax Rate,
Sinking
Years.
Personal.
per $100.
Funds.
_

$427,753,393

429,112,418
478,468,028
464,425,790
809,213,891

20*i«c.

18%c.

cost the State about

,

$18,854,024, including interest paid.

valuation, tax rate. Ac., have been:
,

Years.
1875

<

....




Real
Estate.

Personal

Tax per

Total

8

9*3

140,741

Assessed

Sinking

1872 to 1906
1886
■

May 1,

Amounts not

80,000
260,000
48,000
70,000
2,500,000

fundable,
'per report of
Jan. 1,1878.
a

do
do

July 1,1910
April, 1911
Jan., 1914
March 1,1883

do
do

Aug. 15,1880

Augusta and Boston.
London, Baring Bros.
do

June 1,1889
Oot. 1,1889

*

1890
1890
1890
1890
1890

do

Baltimore, State Agency.
do
do
do
do
do
do
do
do
do
do

do
do
do
do
do
db
do
do
do
do

1885
1890
1890

1883
1885 A »89
1887 A 1891
1887
1888 to 1893

.

J. A J.
M. AN.
Boston, Treasury.
J. A J.
do
do
J. A J.
do
do
M. A N.
do
do
M. AN.
London, Baring Bros.
J. A J.
do
do
A. A O.
do
do
A. A O.
Boston, Treasury.
J. A J.
London, Baring Bros.
J. A J.
do
do
J. A J.
Boston, Treasury.
J. A J.
do
do
A. A O.
do
do
J. A J.
London, Baring Bros.
J. A J.
Boston, Treasury.
Various
Boston, Treasury.
Various
do
do
J. A J.
London, HoCalmonts.
J. A J. N. Y., Am. Exchange Bank.
M. A N.
do
do
J. A J.
St. Paul, Treasury.
J. A D.
J. A J. N. Y., Bank of Commerce.
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J: A J.
do
do
J. A J.
do
do
J. A J.
do
do
T. A J.
N. Y., B’k N. America.
J. A J.
do
do
A. A O.
State Treasury.
Various
State Treasury.
M. A S.
do
M. A S.
Concord or Boston.
J. A J.
do
do
.

1907

March 1,1875
1886 A ’88
Jan. 1, 1890
1899
1897

875,000
N. Y., Bank of N. Y.
Boston, Suffolk Bank.

A J.

May 1,
1,
1,
1,
1,

July
July
May
May

1880
1883
1883
1894
1894

July 1, 1889
Oot7l888 to ’90
April, 1891A ’93
July, 1891
Jan. 1, 1895
1893 A ’94

Jnly 1, 1895
April 1,1890

July 1,1900
Sept. 1.1894-96
J'yl,’94-8ep 1/97
M’yl’95-Sep 1/96
Jan. 1, 1895
Jan. 1, 1883
May, 1890
July 1,1883
Deo., 1887
•

1883
1888

July, 1892
Apm 1,1894

*

1879
1879
1889
1879
1879

to’88
to ’89
to’90
te »89

to’87 *

July, 1894
1895-6-7
1887 to’95
1894-5-8

April 1,1897
188 Land ’82
March, 1887
Sept,, 1884 A ’SO
Jan., ’92 to 1905

Real

Years.
1878
1879....

....

The

loan

Personal
Tax per
Total
Sinking
Property.
$1,000.
Debt.
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

Estate.

to

Boston

Hartford

A 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,
1880, about $630,000,000, and tax rate for State purposes 1 278-1,000
mills on the

$1.

*

Minnesota—AM the State bonds are now held by the
permanent school
fund. 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 since 1874 have been:
Years.
Real Estate.
Personal.
Tax Rate.

$173,693,276

173,548,259
175,783,979

$45,162,467
45,302,485
45,141,659
46.175,304

183,615,738

21
2
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 A
St.
Joseph Railroad provides for its own debt. (V. 27, p. 200, 409.)
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*3 per cent of true
value) and tax rata

$451,531
125,264
126,642! per $1,000 have been:
Years.
134,111

17*40.
17*4©.
18\c.

( Y« AOf P* 4tA»)
Massachusetts.—The funded debt, January 1, 1880, was
$33,020,464.
The sinking funds were $12,235,248. The Hoosac tunnel and
connections
'■*"

6
6
6
6
6
6

2,206,100

Total
Debt.

trying to enforce its collection by suit.

g.

9*a A 10

Louisiana.—The Constitutional amendment passed
December, 1879,
provides for a new bond in place of consols of 1871, bearing 2 per cent
for 5 years, 3 per cent for 15 years and 4 per cent
afterwards, on which
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
6 mills, on which the comptroller estimates a deficit for 1880 of
$385,-

ment, and bondholders

g.
gg.

549,267
160.000
380,000

:

Real
Estate.

'

g.
g.
g.
g.
g.
g.
g.

July, 1893

119,000

....

-

2,727,000
401,000

Kansas.—Kansas has but a small State debt, but the issue of municipal
bonds amount to $13,000,000.
The valuations (at one-half of true
Years.

J.

1883 to ’84
1884 to’99
1884 to ’99

do
do

$15,000 '

A. A O.
J. A J.
J. A J.

5 g.
6
7
7
7
6
6
6
6
6
6
6

439,000

do
do

Q.-J.

5
5
5
5

2,275,000

Y., Am. Exch. Nat. Bk.

A J.

J.

5 g.
5 g.

299,000
250,000

N.

Quart’y

5 g.
5 g.

1,500,000
1,100,000
1,292,280
591,000

1,000
£500

1863
1,000
War Bounty Bonds
1865
1,000
Minnesota—State Building loan, coupon
1873
1,000
Railroad Bonds (not recognised)
1858
1,000
Missouri—State bonds, proper
1
1865 to *66
1,000
Consolidated bonds
1868
1,000
University and Lunatlo Asylum bonds
1872
1,000
State Bank stock refunding
1874
1,000
Bonds to North Missouri Railroad
1854 to’58
1,000
Bonds to Cairo A Fulton Railroad
1857 to’59
1,000
Bonds to Platte County Railroad
1859 to ’60
1,000
Bonds to Iron Mountain Railroad
1854 to ’59
1,000
Pacific Railroad of Missouri
1853 to ’59
1,000
Funding bonds
1874
1,000
Renewal bonds, coup., 5-20s, (act Mch. 29, 'll) 1875-6-7
1,000
Hannibal A St. Joseph Railroad
1857 to ’75
1,000
do
do
renewal
1874
1,000
Nebraska—Bonds (ast Feb. 14,1877) coupon...
1877
1,000
aevadar—State bonds
1871
1,000
Territorial bonds...
1872
1,000
New Hampshire—War loan, coupon bonds
1864
1,000
Municipal war loan
1872
100 Ac.

Q.-J.

A. A O.

5
3
6
6
6
6
6
6
6
6
5
5
5
5
5
5
5

31,069
269,000
528,355
298,435
62,605
3,326,750
225,000
465,000
965,554
500,000
220,000

100 Ac.

July.

J. A J.
J. A J.
J. A J.
Various
Various
M. A N.
M. A S.
J. A J.
J. A J.
7*30 M. A S.
6
Various
J. A J.
8
A. A O.
c8
8
J. A J.
7
M. A S.
6
6
F. A A.
J. A D.
6
A. A O.
6
5 g. J. A J.
J. A J.

23,000

6586778118977. 8811
1869

6
7
7
6
6
8
6
8
6
8

739,000
289,000
61,000
273,000
49,000
98,000

500

1866
1867

Bonds in aid of various railroads
Levee bonds—Act 35 of 1865
do
Act 115 of 1867
do
special—Act 32 of 1870

$101,175

100 Ac.

Real Estate.

Personal.

$40,234,676

Tax Rate.

$35,232,722
33,589,360

$7 35

40,589,285
37,975,987
39,263,823

38,378,409

33,335,591
35,125,713

7 35
6 37*#
6 37*#

36,981,389
6 37*#
than nominal, as the

Nevada.—The debt of Nevada is hardly more
bonds are principally held in State funds.

Property. , $1,000.
Debt.
Funds.
New Hampshire.—The debt of New Hampshire was created for war
$1,311,031,326$882,877,758 $14 68$29,465,204 $13,577,106
1,262,141,092 860,958,487 12 89 33,866,464 14,294,238 purposes. The Municipal loan of 1872 was issued to oitiee and towns,
the proceeds to be applied to their war debts. Total valuation in 1879.
1,191,583,169 822,289,966 12 84 33,550,464 13,635,490
$206,959,017. Tax rate, $2 per $1,000. (V.29,p. 171.)

March,

SECURITIES.

STATE

1880. J

Subscribers will confer s

Immediate notice of any error

great favor by giving:

discovered In these Tables.

INTEREST.

For

Size or

Hampshire— ( Continued)—

State
Loan

Prison loan
Hew Jersey—War loan bonds, tax free
War loon bonds, tax free
do
do
taxable
New York—
Under Art. 7, Sec. 3,

of Con¬
stitution, and Art. 7, Sec. 12.

&c.
«fec.
&o.
&c.
.

Sg’sg

69781 781
Forth Carolina—Funding bonds tax-receivable.
Railroad and improvement bonds, old
Railroad and improvement bonds, old
RR. and improv’t bonds, new (not special tax)
do

500 &c.
500 &c.

1,000
1,000

do

do

do

do

do

.

Registered bonds, tax free, 15-25 years
Loan

$53,000 reg.), April 2
April 2
Feb. 2 (registered)

Coupon loan (except
do

Stock loan of

(registered)
do
do
Agricultural College land scrip
jRhode Island—War bonds.
War bonds
do

*do

i

South Carolina—State stock
State House stock
do
bonds....
Funding bonds and stock
Blue Riage Railroad bonds

Funding bills receivable
Payment of interest
Funding bank bills
Conversion bonds and stock
Land commission bonds
Fire loan bonds, sterling
do
stock; d omestic
Ben ds—Relief State Treasury
Reduction of Public Debt stock
Consolidated bonds, coup. (Funding
do
stock (Funding act)
Railroad endorsements
Tennessee—New funding bonds, act of

Dec., 1873
1873
1873

1873

1874

5s).
dent (act May 2,1871)..

Bonds regist’d, act of 1873,($292,300
Held by E.T. University (not to be

are

funded)..

Aug.5,’70(red’ble ’91)
Revenue deficiency bonds, act Dec. 2,1871..
Bonds, act Mar.,1874 (forpaying float’gd
Vet’n Pension bunds, act Apl.,’74, (red’ble
Redemption of debt, act Aug. 6, '76
Bonds, act April 21,1879
Vermont— War loan bonds, registered
Virginia—Old bonds. *3 fundable
Frontier def’se,gold,act

do

do
do

reg.

(Act 1872) “Peeler,” cp.
Deferred certificates (W. Va.)—
do

do

sterling.

383,045
44,000

1,000
1,000

I860
1856
1877
1879
1879
1852
1852
1867
1867
1872
1862
1863
1863
1864
1794
1836 to’61
1853 to ’54
1866
1854
1868
1868
1868
1869
1869 to’70
1838
1838
1869

act)

1,657,600

....

.

,

Texas—Funding State

100 &c.
100 &c.

1866
1868
1867
1868

Funding bonds, since war

Registered certificates of literary fund
Penitentiary bonds, act Aug. 24, 1868
Special tax bonds
Oslo—Register’d loan, payable after June, 1881
Registered loan, payable after Dec., 1886 —
Pennsylvania—Reg. bonds, tax fr., (red’ble ’92).

05«flo
$50 &c.

'

Various.

1.872
1871
1872
1874
1874
1876
1879
1862
1851 to’66
1851
1871
1871
1872
1871
1879
1879

&c.
&c.

11,366,000
4,072,640
2,400,000
8,IKK),000
2,000,000
2,000,000

1,000
1,000

395,000
87,000

J

&c.
&c.
&c.

100
100
100
100
100

9,251,850

50 &o.
50 &c.

723,950

500,000

1,000
1,000
1,000
1,000

Various
Various

1,000
50,&c
1,000
1,000
1,000
500, &c.
500,&c.

500,&c.
....

....

,

Various

4,797,608
4,867,000

....

1,000

1,000
1,000

100

1,000
....

500 Ac.
500 <fec.
£100 Ac

100,&c.
100,&c.
100,&c.

Various
*

J.

•

14,957,300
397,000
75,000
692,000
500,000
1,000,000
700,979
1,647,000
425,000
135,500
4,689,119
2,209,207
13,700,000
819,547
2,819,547
15,239,370
8,000,000
400,000

&
&
&
&

J.
J.

g.
gg.
g.
6 g.
4
6
6
6
6
6
6

J.
J.
J.

J.
JJJ-

{ J&
&
&
&
&

J.
A.
J.
J.
A.
J.
A.

jr.

A.

7
6
6
6

Due.

by

July 1, 1880
Concord or Boston.
Bost.,Nat.Bk.Commonw*lth. ruly 1, ’89-’90-’9I
do
do
July, 1881 to ’91
Jan., 1881 to ’84
Trenton and Jersey City,
do
do
Jan., 1886 to ’96
Jan.,’97 to 1902
do
do
Oct., 1893
N. Y., Manhattan Bank,
ao
do
July, 1887

JJO.
J.
J-

& O.
& J& O.
& j.
& O.

*

do
do
do

1,1883
July 1,1891
Oct. 1,1892

Jan.

‘ do
do

do

1909

1868
1868
1868
1868

New York.
do
do
do
do
do

Q—J.

.1.

A J. Columbia A Fis.

J.
J.
J,

& J.
& J.
A J

to’98
to ’98
to ’98
to'98

Jan., 1900
Oct., 1898

Raleigh, Treasury.
6
J. A J.
New York.
6
A. A O.
do
6
A. & 0.
6
J. A J. N. Y., American Exch. B’k.
do
do
6
J. A J.
5
F. A A. Phila., Farm. A Mech. B’k.
do
do
4^ ® 5 F. & A.
do
do
4
do
de
5 g. J. & J.
do
do
4*2g. J. & J.
do
do
6
F. & A.
do
do
5
F. & A.
Harrisburg Treasury.
6
6
M. & 8. Providence, R. I. H. & T. Co.
do
do
6
A. & O.
do
do
6
J. & J.
do
do
6
F. A A.
3 g.
Q.—J. Columbia, State Treasury.
do
do
6 g. J. & J.
do
do
6
J. & J.
6 g. J. A J. Columbia and New York.
Columbia, Treasury.
6 g. J. A J.
6 g. A. & 0. Columbia and New York.
do
do
6 g- A. A O.
de
do
6 g. J. & J.
do
do
6 g- J. & J.
do
do
6 g- J. A J.
London.
5 g.
Q.-J.
Columbia.
6 g.

149,254

1,000
1,000
1,000

*

<3
6
6
6
6
6
6

4,023,000

Various

*

965,000
200,000
631,000
738,000
17,411
289,172
192,000
238,933
469,000
72,000
149,000
242,350
451,000
13,000
481,944
151,780
7,000
241,257

Payable

J. & J.
J. & JJ. & J.

Principal—When
pal—'

Where Payable and
Whom.

When

6
5

300,000
140,000
500,000
900,900,
595,400
473,000
1,562,900
847,500
4,302,600
2,000,000
1,500,000
4,738,800
3,639,400
1,890,000
1,469,000
2,231,000

1,000
500
100
100
100

Rate.

$200,000

$100&c.

1873
1879
1879
1861
1863
1864
1875
1872
1873
1873
1874
1879

bonds
of 1879.

Canal debt,

outstanding.

Value.

explanations see notes on first page of tables

New

Amount

par

Date of
Bonds.

DESCRIPTION.

Indefinite.

Oct., 1898
1898 to ’99

July, 1881
Jan., 1887
Feb. 1,1902
Ang. 1, 1904
July,

Feb., 1882-1892
Feb., 1882-1892
1922

Sept. 1, 1882
April 1,1883
July 1, 1893
Aug. 1, 1894
At pleasure.

Agen. N.Y.

New York or Columbia.
do
do

’

e’
J. A J. N. Y., Fourth Nat. Bank.
do
do
5 & 6
J. A J.
6
J. & J. N. Y., Fourth Nat. Bank.
State Treasury.
6
Various
7 g. M7A 8. N.Y., Donnell,La wson<fe Co.
do
do
7 g. f J. & J.
do
do
7 g. J. A J.
State Treasury.
10
J. A J.
6 g. J. & J. New York A State Treasury.
5
6
J. A D.
Montpelier, Treasury.
New York.
6
J. A J.
London, Baring B. A Co.
5
J. A J.
Richmond, Treasury,
6
J. A J.
do
6
J. A J.
do
6
J. & J.
6
J. <& J
3 to 5
J. A J.
3 to 5
J. A J.
*

i882

July, 1882

■

•

1877 to ’86

1871 to ’80

July 1,1888
July 1,18’88
July' 1,1889
July 1,1882

July i, i868
July 1,1868 v
1888-

July i, i893
July 1,1893

July 1,

i914

1875 to 1900
Various.
1891
1911
1892

March 1,1904
1894
_

July, 1906
1909
Dec. 1, 1890
1886 to ’95
1886
1905
^
1905

Contingent
1919

1919

and declared void the conversion
of the validity
See decision v.
29, p. 358. Total valuation of all property—in 1878, real estate, $83,270,998; personal, $32,836,064; railroad property, $6,520,772: the total
>31,851,849 in 1878. State tax was 3*2 mills, but the Governor’s mes¬ for 1878-9, including counties not embraced in abstract, is put at $132,sage says the tax may be abolished in 1880. (V. 28, p. 58.)
237,986. Rate of taxation, 4*a mills. (V. 28, p. 18, 378, 402; V. 29, p,
New York.—Valuations and tax rate for State purposes have been:
358, 383; V. 30, p. 118.)
State Tax.
Real Estate.
Personal.
Tennessee.—New funding bill was given in Vol. 28, p. 353. The total
$357,941,401
$2,108,325,872
debt January, 1879. was $20,221,300 in outstanding bonds, and $4,156,379,488,140
2,376,252,178
522 in overdue interest; there were also $416,000 bonds yet to be
renewed and $373,000 yet to be registered. The State’s endorsements
2,373,418,490
364,960,110
for railroads are $1,308,000, which is taken care of by the roads. Ten¬
1879
2,333,669,813
353,469,320
The canal debt only remains. Town, county and city debts
nessee bonds sold in New York as “ old.” are those issued before 1862;
at $250,000,000.
“New,” issued since 1862; “New Series,” the new funding bonds.
North Carolina.—Total property was assessed in 1876-7 at $148,564,- Assessed valuation and tax rate have been:
Real
Personal Rate of Tax
557. Tax rate 1878, 38 cents on $100. Interest is paid on bonds issued
to North Carolina Railroad ($2,800,000), as the State holds $3,000,200
Years.
Estate.
Property, per $1,000.
stock and receives dividends thereon. Other interest in default.
A
$37,213,908
$4
$240,806,626
239,370,485
4
28,632,000
funding bill passed the Legislature February, 1879, which provides for
212,589,045
24,319,803
1
funding old ante-war bonds at 40 per cent of the face value; “New”
railroad bonds recognized as valid at 25 per cent; funding bonds of 1866
202,340,815
20,871,338
1
and 1868 at 15 per cent. All overdue coupons are to be surrendered;
196,165,644
16,952,036
1
the new bonds run thirty years, and bear 4 per cent interest; coupons —(V. 28, p. 174,200,277,353, 429,454, 526, 580; V. 29, p. 226,272, 278.)
are receivable for taxes, the first coupon or 2 per cent being payable
Texas.—For all bonds, except 10s of 1894, the interest and 2 per cent
January, 1881. Special tax bonds are ignored, and also bonds to of principal yearly are provided for by special appropriations. The total
Chatham Railroad 1868, $1,030,000, and to Williamston A Tarboro valuation of taxable
property in 1879 was $303,202,424, against
Railroad, $150,000, and for Penitentiary under acts of 1868. (V. 27,
$243,202,424 in 1878 and $257,632,000 in 1876. Tax rate, 50.
p. 678; V. 28, p. 69, 200, 327.)
Vermont.—Of the registered bonds $135,500 are held for Agricultural
Ohio.—Ohio has a very small State debt, but large local debts, amount¬
College. Assessed value of real estate, 1879, $71,017,881; personal,
ing in 1879 to $41,490,574, against $25,957,588 in 1875, this increase
being mainly in Cincinnati debt. Valuations in Real estate.
Ohio have been as follows: $15,375,533; tax rate, $4 per $1,000.
Personalty.
Real estate.
Personalty.
Virginia.—The law of April, 1879, for refunding the debt, is given in
1860.. $639,894,314 $248,408,290 1877.$1,084,455,378 $490,190,387 Chronicle, VoL 28, p. 353. The new bonds are 10-40 year bonds, and
1878
1,091,116,952 461,460,552 bear 3 per cent for 10 years, 4 per cent for 20 years, and 5 per cent for
1866.. 663,647,542 442,561,379
1,093,768,904 442,979,885 10 years. The “ Ridaleberger ” bill, March, 1880, scales the debt
1876.. 1,076,788,367 520,681,599 1879
State tax rate, 2»io mills. (V. 28, p. 69.)
to about $20,000,000, with interest at 3 per cent. The funding act of
Pennsylvania.—Sinking fund, $8,504,899. Revenue M raised prin¬ 1871 provided that coupons of the funded bonds should be receivable
cipally from corporations. Taxes are levied on personal property, whieh for State taxes. For two-thirds of the old bonds a new bond was issued,
was assessed in 1877 at $159,318,817.
The State holds $1,754,331 in and for the other one-third a deferred certificate given (as the proportion
stocks and $7,900,000 of railroad bonds. Any coupon bonds may be due from West Virginia). The act of 1872 amended that of 1871 by not
changed to registered. The bonds due in 1882 are payable at any time allowing coupons to be received for taxes. Assessed values in 1878
were: real estate, $242.702,503; personal, $73,984,368; total, $316,till 1892. (V. 28, p. 43,149, 600; V. 29, p. 192, 330.)
Phode Island.—'The debt was all created for war purposes. In Jan., 686,872. Tax rate, 5 mills. The Governor, in January, 1880, figures
the net revenue for 1879-80 at $2,586,078, leaving $1,397,517 to pay
1880, the net debt, less sinking fund, was $1,828,013. The State valua¬ the interest of $1,075,735 on all the debt if funded under act of 1879.
tion of real property in 1876 (the latest made) was $243,658,190,
(V. 28, p. 44, 70, 97,121, 147, 174, 328, 358, 429; V. 29, p. 198, 331,
and personal, $84,872,369; tax rate 1879,12 cents on $100.
South Carolina.—The funding law of Dec. 22,1873, provided for scal¬ 505; V. 30, p. 163, 223.)
New

Jersey.—The debt was created for war purposes.




Sinking funds

ing down the old debt 50 per cent,

bonds to the amount of $5,965,000. The question
of consol, bonds went before the State Supreme Court.

JSks

..

..

.

i

8

CITY
Subscribers will confer

a

DESCRIPTION.

bonds.

par
value.

outstanding.

Albany, N. F.—Purchase Congress Hall Block..
City improvement
Washington Park ($40,000 are 5s, due 1920)

1866.
$1,000
1870-’71
1,000
1870-’78
1,000
Hew Post Office site
1874
1,000
High School
1875
1,000
Water stock
1851 A ’52
1,000
Addit’nal supply ($400,000 due 1900^3, are 7s)
1874-’77
1,000
Western Avenue improvement bonds
1877
1,000
Bonds loaned to Albany A Susquehanna RR..
1865
1,000
.Atlanta, Chi.— Boudsforstreets, Ac
’66-’67-’72 500 Ac.
Bonds, A. L. Railroad for and State House
18G9-’70
1,000
Bonds for West. RR. and floating debt
1872 A ’77 500 Ac.
Bonds, 1st and 2d series, waterworks
1874
1,000

Redemption bonds

1877

do

Augusta, Qa.—Bonds for various purposes
Hew bonds (for $63,000)
Baltimore—Consolidated loan of 1890
Water loan, reg. stock, red. at will after 1916
Funding loan, reg. stock, tax free..
„

Hew Water loan

250 Ac.
•

•

•

Park improvement loan
Five million loan to Baltimore A Ohio RR....
One million loan to Pittsb. A Connellsville RR
Hew City Hall
do
do
do
do
Consolidated loan
Court house loan

Funding loan

1853
1853
1868
1870
1874
1864

1870
1872
1872
1873

Western Maryland Railroad
Jones’ Falls ($89,600 are 5s)

Valley Railroad
Water loan ($263,000 only are 6s)
Endorsements for Western Maryland RR
do

1863
1865
1860
1863

'

•

1874

•

•

•

•

«

•

1,000,000

1858 to’72 100 dec.
1874
1,000
1875
500 Ac.
1869
1,000
Bangor & Piscataquis Railroad
1869
1,000
Bath.&e— Fund, debt ($24,500 are 6s, ’87, J.AJ.
Various.
Railroad loan
Various.
Androscoggin Railroad
1861
Various.
Knox A Lincoln Railroad ($23,750 each
1869
Various.
year)
do
do
(F.AA. and M.AS)..
1871-’72 Various.
Boston— For city purposes, war debt. Ac
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
£100Ac
Consolidated street improvem’t, sterling loan.
1869
£100Ac
Roxbury debt, assumed
1860 to’64
1,000
Dorchester debt, assumed
1861 to ’69 Various.
Charlestown debt, assumed
1862 to’73 500 dec.
Mystic water debt, assumed
1862 to’76
1,000
Brighton debt, assumed
1868 to ’73 Various.
West Roxbury debt, assumed
Various.
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 dec
Water works, Roxbury, coupon and registered 1868 to ’70
1,000
do
Roxbury A Dorchester
1871 to ’74
1,000
do
Dorchester, all registered...,
1871
do
W. Roxbury & Brighton, all reg 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 reg
1875-’76
1,000
Public park and school buildings, registered.. 1877-’78
Improved sewerage, registered
1877-’78
Improved sewerage bonds, coup, and reg
1878-’79
100 dee.
Brooklyn—Debt of Williamsburgh, local lmpr’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
Bushwickavenue
do
do
do
1865
1,000
-

mm

....

1,000,000

57,141
330,000
1,725,000
688,000
1,947,273
385,000
415,000
375,000
360,000
100,000
648,000
670,000

....

....

....

....

....

426,000

3,452,000
550,000

-

m

368,000

....

...

1,2 90,000
38,000
213,000
90,000
552,000
302,000
188,000
183,000

Albany.—The loan to Albany & Susquehanna is secured by first mort¬
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 ±879, 2-84, against 3*20 last year.
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.—Ot this debt, $600,000 was issued for railroads, and balance
for canal enlargement, water works, Ac.
Sinking funds, January, 1880,
$73,500. Taxable valuation: Real estate, $9,049,355; personal,
$4,692,370; tax rate, $1 50 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 A Ohio Railroad
pays interest on
ark by City Passenger Railway, andincome of waterworks, and Public
by 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 1800. The assessed valuation and rate of taxation have been:
gage.

?5,000,000: Water loan is paid

Years.

Real
Estate.

Personal

Property.

Total

Valuation.

$231,365,863

Rate of Tax
per $1,000.

228,816,110
256,105,341
249,266,595
244,043,181

$19 72

19 72*2
19 72ia
19 00

15 00
the full cash value. (V. 29, p. 562.)
Bangor, Me.—The loans to Eu. A No. Am. R. R. to Bangor & Pis. R. Rk
are secured by first
mortgages on those roads, and interest mostly paid
from the earnings. Assessed Y&uation
(near full value) and tax rate
have been:
Real
Personal
Tax rate
Years.
Estate.
Property.
per $1,000.
1876
$6,804,217
$3,664,939
2250
1877.'.....
6,703,527
3,202,573
3025
6,598,927
3,043,534
21*33
c.
6,381,853
2,692,211
22*50

Assessed valuation is

near

—Municipal property, including water works, about $800,000.




12,000

268,000

....

m

425,000
475,000

1,060,000
1,153,000

„

m

925,000
102,500
193,000

420,600
3,179,500
10,745,000
516,009
450,000
4,997,604
3,332,107
287,000
68,500

....

•

85,900
800,000

889,600
1,015,300
3,621,200
1,375,000
117,000
136,000
100,000
500,000

Water loan bonds, coup. (Act Feb. 22, 1875).
European A North American Railroad

•

500,000

943,161

1,000,000

•

payable and by

Boston, Merchants’ Bank. Feb., 1885 to ’94
New York.
Maroh, ’80 to 1900
do

1910-’20

do
do

A N.
A N.

May l, 1904

May 1,1880 to’85

A A.
do
Feb., 1881
A A.
do
Feb. 1,1893-1912
A A.
do
Feb. 1.1883-4-5
A N.
New York
1895-’97
A J. Atlanta A N. Y. Park Bank.
1881,’86 A’92
A J.
do
do
J. A J., 1890

A J.

do

do
do

Q.-J.
M. A N.
M. A N.

6
6
6
6
6
6
6
6
6
5
5
6
6
6
6
5 de 6
6
6
6
6
6 '
6
6 de 7
5 de 6
6
6
’
6
6
5 g6
4

M. A S.
M. A S.

Q.-M.
Q.—J.

Q*—J.
J.

Due.

whom.

do
do
do
do

do

A J.

Q.—J.
Q,—J#
Q.—J.
Q.—J.
Q.—J.
Q.—J.
J. A J.

Q.-F.

A. A
J. A
J. A
J. A

O.
J.

J.
J.
Various
J. A J.
J. A J.
J. A J.
A. A O.
M. A S
Various
A. A O.
J. A J.

J. A J., 1902

Jan,1, 1904
Jan. 1,1897

Sept. 1,1885

Augusta.

1880 to 1903
June 1,1899

do

Balto., Farm. A Plan. Bank.
Balto., N. Mechanics’ Bank.
do

do

5*-

1,000,000

•

•

Union Railroad

•

J.

Where

J. A J.
J. A J.
M. A S.
Various
J. A D.

-

7,306,546

100 dec.

Bangor, Be.—City debt proper
Municipal loan

7
8
7
8
10
7
6
6
5
5

5,000,000
1,000,000
500,000
2,211,068
410,353
555,566
185,723
5,000,000
1,000,000

•

M.
M.
F.
F.
F.
M.
J.
J.

6 dc7
6
6
8

•

659781781
Consolidated bounty loan
Exempt bounty loan
Publlo parks (Druid Hill)

7
7
6

2,033,000

100 Ac.
100 &o.
100 Ac.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.
100 dec.

1877
1878
1879

F. A A.
M. A a

5, 6de 7 Various

430,000
77,000
52,000

1,000

Various.

When 1
Payable [

6
7

448,000
664,000
113,000
70,000
230,000
900,000
165,000
1,000,000
436,000
400,000
418,000

500 Ac.

1875
Various.
1879

Rate.

$150,000

.

do

[Vol. xxx.

great favor by giving immediate notice of any error discovered in tbese
Tables.
INTEREST.
Date of
Size or
Amount

For explanations see notes on first
page of tables.
-

SECURITIES.

July 1,1890
July 1,1916

After

Balto.. N. Mechanics’ B’k'

July, 1910

1894

Sept. 1, 1893
Sept. 1, 1893
Sept. 1, 1890
Jan. 1, 1895
Jan. 1, 1890
Jan. 1, 1886

do
do
do

do
do
do
Balto., Farm. A Plan. Bank.
Balto., N. Mechanics’ Bank.
Balto., Farm. A Plan. Bank.
July 1, 1884
do
do
April 15,1900
do
do
Maroh 7, 1902
do
do
After 1885
Balto., N Mechanics’ Bank.
At will.
Balto., Farm. A Plan. Bank.
July 1,1900
Balto., N. Mechanics’ Bank.
Jan. 1,1902
do
do
April 9, 1900
do
do
Oct. 31,1886
Baltimore,Register’s Office.
July 1,1894
Balto., N. Mechanics’ Bank. Jam 1 ’90 A 1900
Baltimore, Franklin Bank.
Jan. 1,1895
Boston, Merchants N. B’k.
1880 to’92
Boston or Bangor.
Jan. 1,1894
Boston, Merch’ts’ Nat. B’k.
July 1,1905
do
do
Jan. 1,1894
do
do
April 1. 1899
City Treasury.
1887 A 1898
’

do

’83, ’85 A ’98
April 1, 1891

City Treasuryand Boston.
do
do

do
July 1,1880 to ’99
Various
do
1891 A 1902
Various Boston, Treasurer’s Offloe
1880 to ’87
Various
do
do
1880 to’97
Various
do
do
1887-’89
A. A O.
4ifl
do
do
Oot., 1889
5 g. A. A O
London, Baring Brothers.
April. 1893
5 g. J. A J.
do
July, 1899
5, 5i«, 6 Various Boston, Treasurer’s Office.
1880 to ’84
7
Various
do
do
1880 to’81
5 A 6
Various
do
do
1882 to’93
5 A 6
Various
do
do
1881 to’94
6i« A 7 Various
do
do
1880 to ’81
6*11 A 7 Various
do
do
1880 to ’91
6
Various
do
do
1880 to 1901
6
A. A O
do
do
April, 1901
5 g. A. A 0. London,
Baring Brothers.
Oct., 1902
6
Various Boston, Treasurer’s Offiee.
1880 to ’99
6
Various
do
do
1901 to 1903
6
J. A J.
do
do
Jan., 1901 5 A 6
Various
do
do
1905 to 1907
f.
5 g. A. A O.
do
do
April, 1906
6
Various
do
do
1902 to 1905
4
A. A O.
do
do
1908-1909
5
A. A O.
do
do
1908
A. A O.
4*3
do
do
Oot., 1909
6
Various
do
do
1901 to 1904
5 g. A. A O.
do
do
1905 A 1906
4i«
Various
do
do
July A Oot., 1887
5
A. A O.
do
do
Oct., 1897
4
J. A J.
do
do
Jan. 1, 1899
6
J. A J.
Brooklyn.
1880 to ’81
3d r
7
M. A N.
do
1891
6
J. A J.
do
1887
7
J. A J.
do
a
1885 to’94
6 A 7
J. A J.
do
1881
rj 4^
7
J. A J.
do
1880 to 90
7
J. A J.
do
o
1880 to ’90
ffl i
.

•

1^

*

Bath, Me.—The city holds

a

first mortgage on the

Androscoggin road
for the debt, and second and third
mortgages on the Knox A Lincoln for
its proportion of $895,000 out of a total of
$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 valuation
for five years have been:
Real

Years.
1875...
1876
1877
1878
1879

Estate.

$558,941,000
526,157,900
481,407,200
440,375,900
428,786,300

-(V. 28, p. 145.)

Personal
Estate.

Tax
Rate.

$235,020,895

$13 70

222,838,310
205,433,386

12 70
13 10

190,070,966

12 80

183,467,300

12 50

Brooklyn.—The whole city debt

and 1880:

'

Net Debt.

$27,294,208
27,052,778
27,480,524
26,159,777
26,229,666

1879.

Permanent debt
Water loan

Temporary debt

January 1,1879

$18,185,000

1880.

9,756,000

11,216,500

Tax certificates

$18,693,000
11,216,500
9,688,000

3,100,000

Total

Less

'

,

was as follows on

$42,257,500

sinking fund...

4,781,978

3,120,000
$42,717,500
5,152,130

Total debt
$37,475,521
$37,565,369
Population in 1870, 396,200, against 266,661 in 1860. Valuation of
property and tax rate per $1,000 for five years have been:

Years.

1879

ReaL

Personal.

$208,904,750

Rate.

$16,287,125
13,878,580

$34 27

213,134,543
216,481,801
218,373,093

221,000,000

32 54
31 72
27 00

13,111,215

14,968,911

11,900,000

•

‘

25 50

Subscribers will confer >

great fovor by giving

For explanations see notes on

1866
1867
1862 & ’67
Fourth avenue
do
do
do
1867
Wallabout Bay
do
do
1870
New York Bridge loan, registered and coupon
1876-’79
Bonds for N. Y. & Brooklyn Bridge, cp. or reg.
I860 to ’73
Prospect Park loan, registered and coupon .
1860 to ’72
Prospect Park loan
1857 to ’72
Permanent water loan.
1872 to’75
do
do
1877-8-9
Sewerage fund bonds, continuous, local
do
do
S’th B’klyn 1877-8-9
Assessment fund bonds, continuous, local.... 1877-8-9
1870
Central and Knickerbocker av. sewer bonds..
1873
bonds
Boulevard
1876 to ’78
Temporary tax certificates
1853 to’75
Buffalo, N. P—Funded debt bonds
1873 to ’75
Buffalo & Jamestown Railroad
Buffalo New York & Philadelphia Railroad... 1871 to ’73
Waterworks bonds
:.. 1868 to ’76
1876
Water bonds, coupon
.'
1876
Park bonds (Act May 17,1875).
1876-77-78
Tax loan bonds
1878
Water bonds, reg.
1879
Bonds, coup, or reg
1858 to ’63
Cambridge. Mass.—City bonds.
1864
City bonds
1863
do
1856 to ’76
do
1573-’74
do
1874-5
do
1866
*
Water loan...
1866 to’77
do
1865
do
1867 to ’75
do

INTEREST.

Amount

.

outstanding.

$1,000
1,000

first page of tables

Brooklyn—( Continued)—
South Seventh st.improvement loan, local
do
Union street
do
do

Immediate notice of any error discovered In

Size or
par
Value.

Date of
Bonds.

DESCRIPTION.

$218,000
260,000

1,000

-

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

Charleston, S. C.—City stock
Fire loan bonds, coupon

Conversion bonds, to redeem
do

past-due debt...
(non-taxable)

Sewerage bonds

99,000

100,000
150,000
1,597,000
689,000
514,000
100,000
774,000
55,000
485,000
162,000

1,000
1,000

500 <fcc.
500 &c.
500 &c.

1,000

500 <fcc.

1,000
1,000
1,000

231,400
500,000
3,235,900

100 &c.

149,000
1,170,000
100,000
200,000
624.500
3,625,000
87,000
2,543,000
2,611,000

1,000
1,000

River improvement bonds

Municipal bonds
Municipal and School bonds

195,000

3,408,000
2,000,000

500 &c.

South Park loan (secured on South. Div.)
1870
1,000
West Chicago Park (secured on West. Div.)...
1863 to ’72 500 &c.
Cook County debt
1,000
Cincinnati- Loans to Railroads.F, A, G,H,I& M 1844 to ’54
1855
1,000
Bonds to 0.& M. RR. to purchase whf. prop.N
1868
1,000
Bonds for erection of a Workhouse
1868
1,000
Bonds for Water Works
C2&03
Bonds for Common School purposes..
P 1860 to ’61 1,000
1855
1,000
Bonds to O. & M. RR. to purchase whf. prop. .N
Bonds for ext. and impr. Water W..C, D. &E 1847 to’50, 500 &c.
Bonds for funding floating debt
A2 1847 to ’48 500 &c.
1,000
Bonds for new Hospital
S&S2 1867-’68
1853
1,000
Bonds for funding floating debt
.L
1853
1,000
Extension and improve. Water Works.. .K &F
1858
1,000
Bonds to purchase Orp’n Asyl. grds. for park.O
1869
i;ooo
Bonds for sewerage
1869
1,000
Bonds for improving Gilbert avenue
U
1869
1,000
Bonds to build Eggleston avenue sewer... .B3
1871
1,000
Bonds for improvement
W

640,000
4.191.500

1,062,000

'

R

lS71-’72
1871
1872-’74
1874

C4&C5
W2

Bonds for Water Work purposes
General improvement

Cincinnati Southern RR
do
do
do

,

do
do
do

($3,142,000

improvement

D1
U2

1875

1,000
1,000
1,000

2,000,000
1,000,000
50,000
300,000
175,000
50,000

1,000

1876
1876-’77

Due.

1880 to ’90
1880 to ’86
1880 to ’95
1880 to ’90
1901 to’24
1907 to 1912
1915 to’24
1915 to’24
1881 to 1908

Brooklyn.
do

53

do

03

do
do

Sjl

do
do
do

c3 C

•d

do
do

g

ft..
CD

do
do
do

©

3
53

do
do

from data

3 years

from date.,
from date*-

3 years
3 years

ft«

1880
1875

O

O

7

*

,

1878-1881
to 1895
to 1895
to 1893
to 1926

1879
1893
1881
1879

July 1,1896

Prior to 1936

July, 1879-’83
Sept. 1,1898
1 QQQ

1879 to 1882

April 1,1889
1,1893

Jan.

Jan. 1,1881 to *96..
Jan. 1, 1903-4-5

Apr.& Oct. 1/84-5
July 2,1886
July 1,1881 to ’97
Aug. 1,1883

Apl. 1,1887-1895May, 1889-1891
1878 to ’98
1883 to ’84
1890

1909

%

1879 to 1883
1879 to 1895
Feb.

17,1883

Aug. 1,1887-’95
1880 to ’98
July 1, ’82 to ’9»

July 1,1880
1880 to ’95
1890 to ’95

July, 1895 & ’96
1881 to ’99

0)
1890

May 1,1880-’92
1880 to ’84

Nov., 1885
June, 1888

5

1888 & 1889

Jan., 1890
Nov., 1890

April 1,1895
March, 1897
1897

Jan., 1900
June & Oct., 1900’
March, 1908
Cincinnati.
M. & S.
6
Sept., 1899
7 3-10 M. & 8. N. Y., Am. Exch. Nat. Bk.
Sept., 1899
do
do
7 3-10 M. & 8.
Oct., 1899
do
do
7 3-10 iA. & O.
7 3-10

7
7
7
7 3-10

M.
F.
J.
J.

J.

5,078,000 6g. or 7*3 M.

1,000

Hospital bonds
Street improvement bonds, short

debt of Kings County,
about $4,000,000, of which
twentieths. (V. 28, p. 41.)

210,000
250,000
300,000
99,000
195,000
397.500
146.500
750,000
60,000
175,000
100,000
150,000
150,000
100,000
136,000
450,000
600,000
580,000

Principal—When

Buffalo and New York.
Various
Buffalo.
Various
Buffalo and New York.
Various
do
do
Various
N. Y., Gallatin N. Bk.
J. & J.
Buffalo & New York,
M. & 8.
do
do
5, 6 & 7 J. Sc J.
do
do
M. & 8.
5
do
do
Various
5
Various Boston, Bank Redemption,
5
do
do
A. & O.
5
Boston, Tremont Bank.
J. & J.
J. & J. Boston, Bank Redemption.
do
do
J. & J;
6
do
do
A. & O.
6
do
do
J. & J.
6
do
do
J. & J.
6
do
do
F. & A.
6
do
do
A. & O.
6
do
do
M. & N.
6
'
Charleston,
6
Q.—J«
do
6
Various
do
J. & J.
7
do
A. & O.
7
do
4
J. & J.
A. <fc O. Boston, N. Bk. Redemption
5^
do
do
6
Various
do
do
F. & A.
7
do
do
F. & A
6
New York and Boston,
J. & J.
6
do
do
7
J. & J.
do
do
J. & J.
6
do
do
J. & J.
7
do
do
& J.
7
do
do
J. & J.
6
do
do
J. & J.
7
do
do
J. & J.
7
& J. New York (see remarks.)
7
M. & N. N. Y., Metropolitan Bank.
7
Various
, Am. Exchange 1
6
do
do
M. & N.
6
do
do
7 3-10 J. & D.
do
do
7 3-10 Various
do
do
J. & J.
6
do
do
M. & N.
6
do
do
A. & O.
6
do
do
M. & N.
6
do
do
7 3-10 Various
do
do
J. & J.
6
do
do
6
Various

9,237,000

1,000

500 &c.

'.

Water-works bonds
Bonds for McLean Ave. sewer

The

500 &c.

1876
1878
1874
1875

Floating debt bonds, coupon
Park

1,000
1,000

gold 6s)

are

I

1,603,150
51,500

500 &c.

do

6 <fe
7
7
7
7
6
6

175,000

1,000

-.

.

704,632
50,000

1,000

Water loan

J.

4, 5, 6, 7

100,000

1,000
1,000
1,000
1,000
500,«fec.

Chicago—Water loan

7

7

2,099,250
1,000,000
700,000
2,729,382
100,000

1000 &c
500 &c.

do
Water loan, coup

7

J.
J.
J.
J.
J.
J.

4, 5, 7

3,120,000

1,000

Chelsea, Mass.—Funded debt, coup
Funded debt, coup

J.
J.

7
6
6

618,000
842,000

1,000
1,000
1,000
1,000

1879

coup, or reg.

7

5, 6 & 7 J.

4,530,000

1853 to ’54
1866

City bonds, coupon

7

100,000

1,000

1,869-71

do

6 & 7

these Tables.

Where Payable and by
Whom.

Sc J.
Sc J.
Sc J.
& J.
Sc J.
& J
& J.
& J.
& J.
& J.
& J.
& J.
& J.
& J.
& J

7

1.439.500
1,650,000

784628710971 78811
-

Payable

7

406,000
3,000,000
5,150,000
8,019,000
1,217,000
9.777.500

1,000

When

Rate.

346,000

1,000

,

9

SECURITIES.

CITY

March, 1880.]

M.
M.
J.
F.
M.
M.

6 & 7
7
7
7
5 & 6
7

&
&
&
&
&
&
&
&
&
&
&
&

March 1,1886
do
do
8.
Aug., 1886-’97
do
do
A.
Dec. 1, 1891
do
do
D.
July 1, 1902
do
do
J.
July 1, 1902
do
do
J.
May 1, 1906
New York or London.
N.
N. N. Y., Am. Exch. Nat. B’k. Nov. 1, 1908-W
do
May 15,1904
do
N.
Jan. 1, 1896
do
do
J.
Aug., 85, ’90 A’95
do
do
A.
do
May 1889-1909
do
N.
do
May 1, 1906
do
N.

395,291

separate from the debt of Brooklyn, is
the city is responsible for nineteen-

/

ivssesseu vaiue.

Tax
Rate.

.

Buffalo also pays

Real Estate.
Personal.
$29 40
$38,061,170
$253,557,900
24 08
1....... 131,222,460
36,815,718
27 40
116,082,533
32,317,615
28 63
104,420,053
27,561,383
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 Liueoln Park,
loans are not debts of the city, but of distinct corporations.
(V. 28,

bonds

p.

Buffalo—In 1875 real and personal property was assessed at
$39,968,105; in 1876 rule of valuation changed and assessment was

$111,995,905. Since that date valuations have been:
r
Tax Rate.
•
Real estate.
Years.
Personalty, per $1,000.
$12 43
$91,130,870
$8,844,705
80,929,165
7,947,380
17 60

7-10 (being $712,390) of Erie county debt. Coupon
exchangeable for registered.
Cambridge, Mass.—The sinking funds amounted to $605,281, Novem¬
ber, 1879.
The investments are nearly all in city bonds at par and
stamped “ not negotiable. Only $52,000 debt matures before 1881.
are

Years.

223.)
Cincinnati.—In addition to

several smaller

the issues above

amounts, as follows:

named there remains

$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, 1800;
098. Total debt, November, 18791, $3,254,000. Population, 1875, 47,838. $27,000 6s (A.), March, 1897; $50,000 (H2.), August, 1897. Citv holds
Charleston, S. C.—The bonds of Charleston are mostly held within the $950,000 of Cincinnati Southern bonds in sinking funds. In 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
from the books of the Auditor of Hamilton County, Ohio, exhibits'the
exchange for city stock. Assessed valuations and tax rate have been;
assessed valuation of the city of Cincinnati in the year 1860, and from

Personal

Real

Years.

Property. ‘

Estate.

$18,805,480

Rate of Tax
per $1,000.

$20 00

$9,000,990

18,669,623

7,922,155

8,108,706
18,313,450
17,137,255
6,272,458
Chelsea, Mass.—Sinking fimd, January 1, 1880, $123,304,
debt, $1,661,800. Tax valuation, 1879, $15,377,402; rate, $1
debt,

$1,591,252. Population, 1875, 20,737.

1870 to 1879:

22 50
22 50
20 00

and gross

76. Total
$13,057,000.

Years.

1860

Real

Personal

Estate.

Estate.

$61,620,904

78,736,482
123,427,888
119,621,856
121,479,280
123,231,790
125,976,835
127,143,900
129,043,880

$31,411,912
57,370,754

56,934,044
55,462,410
64,166,460
58,708,284
58,521,730
56,809,066
43,830,188

Total
Valuation.

$93,032,716
136,107,236
180,361,932
175,084,296
185,645,740

Rate tax
'
per

$1,000-

$17 45

181,950,074
1879, was
184,498,566
$321,000. Advances and warrants,
183,952,966
$2,210,401. Assessed value of real property, 1878, $104,420,053; per¬
179,430,142
sonal, $27,561,383—total, $131,981,436. Tax rate, 1878, $2 86310 on
172,874,068
the niinois 8tate valuation, and the city debt is limited to 5 per cent of
169,305,635
that. A decision of the niinois Supreme Court in February, 1878. held
the certificates of debt issued prior to Map, 1877, as a violation of this
The city is the sole owner of the stock of the Cincinnati Southern
and void. A subsequent decision held city scrip of 1878 valid. Of the
funded debt, $4,248,000 is on account of the Water Works, which in road, which is leased to a company formed to operate it. (V. 27,
172, 251, 280, 677; V. 28, p. 624; V. 29, p. 17.)
1878 yielded an income of $897,176.
Chicago.—The net funded debt January 1,

Old certificates of indebtedness,




31
22
20
23
23
28
27
29
28

60
20
lO
08
38
82
04
lO
5A

Rail¬

p. 94*.

10

CITY

Subscribers will confer

a

Date of
boDds.

Size or
par
value.

first page of tables.

on

■Cleveland—Water works ($225,000 are 6 p. ct.). 1856 to ’76
Funded debt ($100,000 are 6 p. ct.)
1868 to ’79
Lake View Park
Canal and canal lock
School ($294,000 are 6 p. ct.)
House or Correction
Main sewers, special assessment
Street improvem’ts do
Street damages, Ac., do

....

^

outstanding.

fund
Detroit, Mien - Bonds for various City purposes
Bonds for Water Work Co., on city's credit...
Public Building stock (City Hall) bonds
Public sewer bonds ($40,000 are 6s)
Bonds for purchase Belle Isle
Elizabeth^ N. J.—Improvement bonds
Funded debt bonds
School House bonds
Market House bonds
Consolidated improvement bonds
Funded assessment bonds
Tax arrearage bonds
JEvansville, Indiana—E. H. &N. RR. bonds

City wharf bonds

-

Redemption bonds
do
do
do

do
do
do

Fall River,

Mass.—City notes

1878
1855 to ’59
1855 to ’76
1859 to’71
1872 to ’76

^

....

1868
1869
1869
1869
1870
1876
1876
1877
1878

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Large.
l<XX)Ae.
1,000
1,000
1,000
1,000

....

....

:

1872
1873
Water loan
1871
do
1875
Calves ton, Texas- Bonds for various
purposes... 1869 to ’75
limited debt bonds (sinking fund 2 per cent). 1877-8-9
Bonds to purchase blk. 321
1873
Galveston County bonds, G, C. A 8. F. RR
1876

.

.

.

.

.

-

....

....

Capitol bonds
Golyoke, Mass.—City notes
City bonds, sinking fund

....

1871-’74
1874
do
1872
do
($60,000 are J. A J.).
1873
Indianapolis— Bonds to railroads.
1869 to’70
Bonds to Un. RR. Tr. Stock Yard
1877
(mortgage).
Loan bonds, series A
1873
do
do
B
1874
do
do
C
1874
Watefr loan
Railroad loan

*

do

do

D

Purchase-money bonds—Southern
do

do

Forty-year bonds
Improvement bonds
do

1875
1874
coupon. 1852 to ’67
1869 to ’73
1877
1873

Park

Jtt'sey City— Water loan bonds, mostly
Water loan bonds, mostly coupon
do

1,000

....

$500 each)

t

1,000
1,000
1,000
1,000
....

1,000
1,000
1,000
500

1,000
1,000

1,000
1,000
1,000

Funded debt bonds
Old Jersey City bonds, coupon
Hudson City bonds
Bergen school loan bonds

300,000
200,000
109,500
1,163,000
3,109,800

500

1,000
1,000
1,000
1,000

1871
500 Ac.
1872 to’76
1,000
1870
1,000
1872
1,000
Various.
1,000
Various. Various
1869
1,000Ac

do

Morgan street dock

50,000
125,000
475.000
202,000
500,000
130,000
300,000
1,000,000
205,000
271,000
250,000
226,500
155,000
500,000
300,000
300,000

*

1,869,000
2,161,500

/

Cleveland—The sewer, street improvements and street
opening bonds
for special local improvements, and redeemed
by assessments on the

are

unds have been:
firoperty benefltted. Assessed valuation, tax rate, debt
Total

Years.

3878

....

Valuation, Rato of

Real and
Personal.

$73,305,277
73,562,237
71,296,122
70,139,639

Tax per

$1,000.

181B20
171720
15i20

and sinking

Total Assets
/—Total Bonded Debt—.
in Sinking

General.

$5,160,000
5,557,000
6,061,000
6,678,000
6,201,000

Special.

$2,937,900
3,027,900
2,993,164
2,606,100
2,390,100

416,000
622,000

Funds, Ac.
$1,863,736

1,989,751
2,109,357
1,816,690

70,548,104
2,267,934
Moines, Iowa.—Assessed value of property,
$5,104,240, which is
«bout 50 per cent of true value. Tax
rate, $0 per $100.
Detroit, Mich—The population in 1870 was 79,601; in
1874, by
State census, 101,083. The value of water works
is $2,483,830, against
Des

a debt of $1,401,000.
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
them.

Assessed valuation, in 1879-80—real
property, $63,981,315;
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, $103 per $100.

125,000
500,000
860,400
162,550

150,000

.

7

7

Principal—When
due.

do
do
do
do
do
do
do
do
do
do

Bk.

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

do
do
do

do
do
do
do
do
do
do

1880-’81-’82-’83
1893 & 1907

New York.

June, 1880

do
do

July, 1885
July, 1888

V., Metropolitan N. Bk.

1879 to ’89
1879 to 19C6

do
do
do
do

do
do
do
do
Various N. Y., Farmers’ L A T. Co.
Various
do
do
Various
do
do
do
Various
do
A. A O.
do
do
....

1879 to’91
1892 to’94
1899
1879 to’81
1880 to ’95
1881 to’93
1879 to ’86
1885 to ’96

....

....

....*•

7
7
7
7
7 3-10
7
7
6
6
7

M. A N.
M.
J.
J.
J.
A.
M.

&
A
A
A
A
A

New York.

N.
D.
D.

J.
O.
N.
A D.

J.
.J

_

.

"

.

May 1, 1898
May 1, 1899

do
do
do
do
do
do
do
do

July 1, 1895

April 1, 1906
May 15,1906
June 1, 1907

April 15,1908

Various
City Treasury.
1881 to 1888
Various
do
1880 to 1891
5 g. F. A A.
Boston, Revere Bank.
Aug. 1,1894
6
M. A N. Boston, Bank Redemption.
May 1,1895
6
M. A N.
do
do
Nov. 1,1879-1880
6
M. A N.
do
do
Nov. 1,1892-1906
6
F. A A.
do
do Aug. 1,1899-1905
7
M. A N.
City Treasury.
Nov. 20,1882
6
J. A J. Boston, Merchants’ Bank.
July 1,1893
6
J. A J.
do
do
July 1,1891
6
J. A J.
do
do
July 1,1895-1906
10
Various
GalvestonL.
1880 to ’91
8
M. A S.
do
1907-1909
8
M. A 8.
do
1993-1902
10
J. A J.
New York
19066
J. A D. Merchants’ Bank, Boston.
Juno 1,1880
6
J. A J.
do
do
July 1, 1881
6
J. A J.
Phoenix Bank, Hartford.
July 1,1890-’95
6
F. A A.
City Treasury.
Aug. 1, 1900
6
J. A J.
Suffolk Bank, Boston.
June 1, 1891
6
F. A A. Merchants’ Bank Boston.
Aug. 1,1882 A ’84
6
J. A JJan. 1, 1893
City Treasury.
6
J. A J.
do
Jan. 1, 1897
6 A 7
Various
City Treasury.
1879 to 1886
6
A. A O.
do
Oct. 1,1889
6
J. A J.
do
Jan. 1,1900
7
A. A O.
do
Jan.AApr.l, 1894
6
Jau.
City Treasury.
Jan.l, 1889, to ’90
6
J. A J.
N. Y., Winslow, L. A Co.
Jan. 1, 1897
7-3
J. A J.
do
do
July 1, 1893
7*3
J. A J.
do
do
July 1, 1894
7*3
J. A J.
do
do
July 1, 1894
7-3
J. A J.
do
do
July 1, 1895
73
J. A J.
do
do
Jan. 1, 1899
6
J. A J. N. Y., Merch. Ex. N. Bank. Jan., 1879 to’95
7
Various
do
do
1899 to 1913
6
J. A J.
do
do
July 1,1907
7
J. A J.
do
do
July 1,1913
7
M. A N.
do
do
May, 1891
7
- Various
do
do
1892 to 1906
7
J. A J.
do
do
June 8, 1900
7
M. A N.
do
do
May 1,1897
6 A 7
Various
do
do
1880-’90
7
Various
do
do
'84-’85-’89&1900
7
J. A J.
do
do
Jan., ’98 to 1900
.

>

'

.

Evansville, Ind.—No floating debt.

tax rate and debt have been:
Valuation of
Years.
Real Estate.
1876...'..
$16,865,639

Assessed valuation (true value),

Personal

Tax per

Property.
$6,162,225

$1,000.

'

Total
Debt.

16
12
11
15

00
$1,555,000
15,486,225
50
6,113,205
1,555,000
14,566,955
40
5,086,315
1,551,000
12,381,475
00
4,926,250
1,551,000
Fall River, Mass.—The sinkingfunds amounted to
$281,000, Jan.l,1880.
Total debt, including water debt, $3,186,000.
Population, 1875, 45,340.
Fitchburg, Mass.—Sinking fund, $101,000. Total net debt, January,
1880, $737,283. Population, 1875, 12,289. Valuation, tax rate, &c.:
Valuation of Valuation of Tax per
Total
Sinking
Years.
Real Estate. Pers’l Prop’ty. $1,000.
Debt.
Funds, Ac.
$8,034,325 $2,633,994
15 80
$896,395
$118,382
1878
7,197,125
2,373,872
16 20
900,000
' 138,441
6,820,675
17 80
2,208,818
895,803
158,703
,

—The assessed valuation of real estate is about the cash value.

Galveston,

Texas.—The

total city debt is

10 per cent currency, except $35,000
the limited debt bonds. Assessed value

$865,500, all of which is
park 8s, due 1892-1902, and

real and personal property,
Tax rate, $1 25 on $100. (V. 25, p. 283.)
Hartford, Conn.—Total debt, April, 1879, $3,002,000; net, after
Elizabeth. N. J.—Default was made in interest
February 1,1879, see deducting resources, $2,152,308. Assessed valuation in 1878, $44,001,V. 28, p. 146. Suits on bonds are
pending. Total bonded and floating 245. (V. 28, p. 599.)
“debt January 1, 1880, was stated at
$5,400,000. Estimated true value
Holyoke, Mass.—Bonds all coupon, but can be registered. Sinking
-of real and personal
property is $28,000,000.
Population in 1875, funds, $-45,500. Total net debt, January, 1880,
25,000. Assessed valuation, tax rate and debt have been:
$952,500. Tax valua¬
tion, 1877, $9,399,820. Population, 1875,16,260.
Total Valuation, Rate of
Indianapolis.—The assessment of taxable property in 1878 was
Real and
Tax per
Total
$50,029,975; tax rate, $1 08 per $100. The School Board is a distinct
Years.
Personal.
$1,000.
Debt.
organization and levies its own tax, which is included in tax rates.
J§75..
$16,768,950
2*66
$4,876,000 There are a few other bonds, in all about $50,000. *
16,250,805
2*68
.4,900,000
Jersey Citu.—One of the main causes of the temporary embarrassment
15,289,888
^§7/..
2 50
5,130,000 of Jersey City is found in the failure to collect back assessments. The
14,614,918
3-56
5,380,000 Comptroller, in Jan., 1880, made the following statement in his report:
J879...... interest or
11,530,031
2 12
5,400,000 Total taxes overdue Dec. 1,1879,
Iu 1879 no
$2,268,145
sinking fund was raised. (V. 28, p. 146, 599, 624, Total assessments due and unpaidless deductions.
€11; V. 29, p. 120, 225, 277, 357, 563.)
3,044,132
•
The total debt of the city January, 1880, was $16,808,000; sinking
01

1878, $17,000,000.

„




.

Dec. 1, 1890
Dec. 1, 1895

5, 6,7

414,000

.

100 &c.

....

....

Funded debt

.

1,000

'

.

for

.

1,000

N.Y., Amer. Exch. Nat.

J. A D.
J. A J.
J. A J.
Various N.
Various
Various
F. A A.

....

372,000
850,000
50,000
400,000
300,000
100,000
467,800
362,700
35,000

• • • •

7
7
7

7
7
7

400,000
200,000

1,000
1,000
1,000

....

.

100,000

....

’

7

Various
Various
Various
Various
Various
A. A O.
Various
Various

Various
Various
5, 6, A 7 Various

100,000
280,000
250,000
600,000

1,000

....

Fitchburg, Mass.—City notes
City bonds

7

10
7
7
7
7
7
6 A 7
4

payable and by
whom.

6

*

....

....

are

1,000

....

....

City bonds (H. P. AF. RR.)
Park bonds (4 of these bonds

m

1,000
1,000
1,000
1,000

....

Water bonds
do
do

m

1,600

1871 to ’74
1870 to’75
1872 to ’73
1865 to ’66
1875-’76

....

Hartford, Conn.—Water bonds

m

1879

City bonds

do
do
Water loan
do
do

1,000
1,000
1,000
1,000
.

6 A
7
7
6 A
7
6 A
6 A
6 A

Where

payable

6 A 7

315,000
275,000
355,000
184,000
493,500
830,300
1,066,300
128,000
2,135,000
174,000
229,000
175,000
130,400
1,401,000
600,000
340,500
100,000
254,500
736,000
90,000
66,000
2,471,000
698,000
241,000
250,000
100,000
96,000
200,000
300,000
300,000
105,000

,

When

Rate.

$1,275,000
1,534,000

7981877659. 81
funding bond

INTEREST.

Amount

$....

1872 to ’74
1874 to’79
1864 to ’71
1868
Various.

Infirmary and River dredging
1876-77-78
Viaduct (mostly F. & A., A. A O. and J. & D.) 1873 to ’78
Des Moines, Iowa—Bridge bonds
1870
Renewed judgment and loan fund
1875

E. C. &P. RR. bonds
do
do
Watir works bonds

[Vol. xxx.

great favor by giving immediate notice of any error discovered in these Tables.

DESCRIPTION.
JFor explanations see notes

SECURITIES

.

Subscribers will confer a great

11

SECURITIES

CITY

Mabch, 1880.]

favor by giving immediate notice of any error

discovered in tbese Tables.

INTEREST.

Date of
Bonds.

DESCRIPTION.
For explanations see notes on first page of

registered

l,000&c

1,000

385^000

852,000
117,782
74,000
133,000
262,000

178187.
Water loan

.r.

1,300;000

25,000
100,000
320,000
224,000
500,000
137,000
377,000
1,311,000
56,000
193,900
600,000

Lewiston, He.—City bonds ($25,000 each year).
Citv bonds ($50,000 each year)

do

($110,000 due 1885, $210,000 1891)

....

••••

Lewiston & Auburn Railroad
Water bonds

Louisville, Ky.—For Jeffersonville RR.

Subscription to stock of L. & N. RR

stock...

Water works
do

improvement of streets
Re-cnnst/mcting street
Public buildings and institutions
For

Public school and school bouses
Sewer bonds
do

....

Elizabeth & P. Railroad
Wharf property
Jail bordsT... "
For old liabilities
do
do

do

do

....

City bonds pay’ble by RRs. (mostly L.& Nash.)
Lowell, Mass.—City notes

."

Water notes
Water bonds

1,000
1,000
1,000
1,000

1868
1869
1870 to ’74
1871
1871
1871 to'73
1861 to '63
1852 to’75
1871 to ’76
1870

City Hall and School House
Manchester. N. H.—City bonds

City bonds ($70,000 1884, $10,000 1885)

75;ooo

605,000
500,000
107,000
350,000

1,508,000
481,000
500,000
1,300,000
175,000
121,500

1,000

($8,000 1880, ’81, '83, ’85)
Suncook Valley Railroad
Memphis, Tenn.—School and paving bonds
Post bonds

Funding loan, gold
Mississippi River Railroad bonds
Endorsement Memphis & Little Rook RR
Compromise bonds, coupon
Milwaukee—Re-adjustment bonds
General city bonds
do
"do *
Water bonds, coupon
do
" registered
Minneapolis, Minn.—City bonds
City bonds
7;
"do
;

1,000
100 &c.
1867 to’68

1867, ’8, ’9 500 &c.

6, 6*2
6

6,7
6,7

5, 5*2, 6
5, 6
6
6
6
6
6
5
6

-

500
500
500

1875

1,000
100 &c.

1,000
-

1875
1878

Sewer and

funds, $1,069,565; taxes due and unpaid, $2,268,145. Population by
State census in 1875 was 116,883, against 85,000 by United States cen¬
sus of 18v0.
Assessed valuations and tax rate have been:
Real
Personal
Rate of Tax

d*o

do
do
do

do
do

July 1,1894

Oct. 1, '90, to 1906

July 1,1882

City Treasury,

1886,’ 96, '97
July 1, 1903
1891, '92 & 1903

Louisville.

S8'

1883 to '89

July, 1898
June, 1901

Louisville, City Treasurer.
N. Y., Bank of America.
do
do
Louisville and New York,
do
do
do
do
do
do
N. Y., Bank of America,
do
do
do
do
New York and Louisville.

1888 & 1903
1879 to 1898
Oct. 1, 1898

1889

1880, '94 & 1901
Sept., 1891
Feb. 1,1880

July, 1901 & 1903*
•

City Treasury,
do
Boston, Bank Redemption.

City Treasury,

.

1881 to'93

1879 to 1894
1886 to 1894
Nov. 1,1890
1887 to 1890

1885 to 1890

do

Boston, Bank Republic. July 1, ’91-’94-’961879 to 1896
Treas’y & Bost. Bk. Repub.
1882 to 1896
Jan. 1,1880-1894

do

do

City Treasury,

April 1, 1884-’85
May 1, 1893
July 1,1890 &'95

do

Suffolk Bank, Boston."
do
do

1887-’92-’97-1902

City Treasury,

July 1,1880 to'85
Aug. 1,1879 to '87

do

do

Memphis.

1873 to 1902
1873 to 1900

M. & N.

7

500
500

1880-’81
1879-1884
1880 to 1892

Boston, Tremont Bank.

N. Y., Bank of America.^
N. Y., Bank of America.
New York and Louisville.

6

2,500,000

1,000
1,000

June 1,1886
June 17,1880

J. & J.
Various
Various
J. & J.
J. & D.
Various
Various
A. & O.
J. & D.
Various
M. & S.
F. & A.
J. & J.
Various
Various
Various
M. & N.
Various
Various
J. & J.
Various
Various
J. & J.
A. & O.
M. & N.
J. & J.
J. <$& J.
J. & J.
F. & A.
J.

1,000

1,000
1,000
10,000

1849
Nashville, Tenn.—Nashville & Chatt. Railroad.
1870 to’80
Various city bonds
Newark—Bonds, city purposes (s. fund of 1859)
War bonds, floating debt, &c. (s. fund of 1864)

Corporate bonds, coup, or reg.(act Apr. 21,’76)
improvement bonds (local liens). .

6
7
7
6
6
6
7
7
7
7
6
5 to 7

7
7
6

1,000

do

(s. fd. 3 p. o.).

6

500,000
400,000
700,000

500 &c.

1881-1886
1905-1906

.Various

1,840,000

1,000

1,000

reg.

J. & J.

1,000
1,000
1,000
1,000

1,000

1884 & 1889

do
do
do
do

June 1,1883 &’88"
do
J. & D.
do
J. & J.
July 1,1885&1901
do
July 1, '93-1913
J. & J.
do
Oct.l,'97rl907-’17'
A. & O.
A. & O. N. Y., Mercantile N. Bank,
April, 1882
do
do
A. & O.
April, 1883
1887, '89, 91
N. Y., Bank of America,
Various
March 1,1883
do
do
M. & S.

6 & 7

1857
1877
1861
1871
1876
1872
1872

500

&

6 & 7
6
6
6
6
6
6
5
6
6
6
7
6
7
7

7
8
7
6
6
6
6 & 7

1,000

Western division
do
do
do

bonds (act March 9, 1875)

Various
Various
J. & J.
A. & O.

5*2

6

1,300,000

July, 1889

Nat. B’k

1890 & ’97-1901
1880 to ’97

341,000
60,000
300,000
900,000
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

1870

-

|

Whom.

7
8
10

387,500
44,200
117,500
80,000
70,000
200,000
400,000
32,000
29,500

100 &c.
100 &c.

1874
1872

do

do

Due.

Payable and by

J. & J. N. Y., Mercli.Ex.
do
Various
do
J. & J.
Various
do
do
J. & D.

450j000

....

....

($100,000 each year)

Public school bonds
Clinton Hill bonds, coup.

288,000
133,000

Large.

do

Mobile— Funding

1,993^000

1870-’3-’5 Large.
1.000
1871-’4-’6
1862 to ’76 500 &c.
1857 to ’67
1,000

Water bonds
Funded debt

do
Sewer bonds

180,000
79,000
425,000

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Large.

Large.

Lunn, Hews.—City notes
'Water notes...".

Water bonds

650,000

1,000

’54,’62,3, 8

Louisville, New Albany & St. L. Air Line RR.
Change of gauge, Louisv., Cin. & Lex. RR
Road hed

1,000
1,000
1,000

1852
1854
1857 to ’67
1873
1866 to '67
1873
1871 to ’73
1853 to ’70
1868
1871
1868 & ’73

Where

Payable

73,000
97,000
900,000
400,000
500,000
610,000

1859 to ’64 5000&C.
1862 to ’75 5000&C.
1874
1,000
1873-’75 500 &c.

do

When

Rate.

$400,000

Various
500 &c.

Bonds

Bonds
Lawrence, Mass.—Funded debt
Funded debt

Principal—When

Amount

outstanding.

Value.

1869
Various.
Various.
1875-’76
1876
1878
1879

Two-year temporary loan
Bonds to fund floating debt
Kansas City, Mo.—Bonds

or

par

tableB

Jei'sey City—( Continued)—
Rp.i’gfin street improvement bonds
do
bounty loan
Greenville street improvement bonds, &c
Assessment funding bonds
Revenue bonds, eoupon or

Size

»

7
6
5
7
7
7
7
8

.

8
8
10

.8

& J.

J. &J.

‘

<

Nov., 1900
July. 1872

Charleston, S. C.

1907'
J. & J.
N, Y., H. Talmadge & Co.
June 1,1891
J. & D. Milw. and N. Y., A. Goettel.
Jan. 1,1901
do
do
J. & J.
June 1,1896
do
do
& D.
Jan. 1, 1902
do
do
& J.
Jan. 1,1902
do
do
& J.
Dec. 2, 1892
& D. New York, Park Nat. Bank,
Feb. 2, 1894
do
do
F. & A.
do
do
May 1, 1905
M. & N.
1881 to 1885
do
do
Various
1886 to 1900
do
do
* J. & J.
do
do
July,’91-'96-1902
J. & J.
Feb. 1,1891 & '9
do
do
F. <fc A.
Nov. 1, 1901
do
do
M. & N.
N#v., 1905
M. & N. Mobile, Mob. Savings Bank
1875-77-79
New York.
Various
1879 to'99
Various New York and Nashville.

.

1879 to'93
Various
Newark, City Treasury,
1879 to'91
do
do
Various
do
do
April, 1888, to’ 91
A. & O.
July 1, 1895
%. & J. Newark, Mech. Nat. Bank.
Aug. 1, 1908
F. & A.
1879 to '93
M. & 8. Newark, Mech. Nat. Bank.

Years. Heal Estate.
1878.. $9,657,690

Personal Prop. Tax Rate.

Total Debt. 9ink.Fds,<fefc

$6,254,544
$17 40
$984,729
$26,692
1879.. 9,777,744
973,007
37,347
7,705,706
15 00
Memphis. Tenn.—The city has been in default for interest since Jan.
1,1873. The Legislature passed a bill, January, 1879, repealing the
city’s charter, to enable it to avoid its debts. A receiver for the city was
appointed by the United States courts. The compromise bonds were
issued at 50 cents on the dollar. Assessed valuation of real estate, 1875,
$19,329,600; personal, about $6,500,000. Tax rate, $2 per $100.
Population in 1870, 40,230. (V. 28, p. 121, 146, 224, 579, 657.)
Milwaukee.—The city cannot issue debt beyond 5 per cent of its aver¬
age assessed value for five years. In 1878 valuation was $55,255,711.
Sinking funds are provided for all the bonds. There is also about
$47,000 scrip issued to settle old railroad bonds. Population by State
census, 1875,101,000.
(V. 23, p. 622.)
Minneapolis, Minn.—Total debt, $1,101,000; tax valuation, 1879,
about $24,000,000; tax rate, 14*85 mills; bonds aU coupon.
Mobile.—The valuation of property in 1877 was $11,022,049 real
estate and $6,118,462 personal property; tax rate, l0io per cent. Inter¬
est was in default from July, 1873. A settlement with bondholders was
offered by act of March 9,1875, viz.: $510 in 6 per cent bond for $1,000
of the old 8 per cent. The 5 per cent bonds have a lien on oity revenue,
and exchange for these was offered at 75 per cent of their face. In
Feb., 1879, the Legislature repealed the charter of the city, and in Oct.,
1879, bondholders were asked to scale interest to 3 per cent, but declined.
Population about 38,000. (Y. 28, p. 224, 327; Y. 29, p. 278, 374.)
Nashville, Tenn.—AX the close of the fiscal year, September 30,1879,

Estate.
Property.
per $1,000.
$6,315,155
$ 25 80
$53,724,792
54,601,206
5,940,296
25 40
54,505,470
5,790,119
23 60
1879
54,993,918
5,340,860
28 00
—(V. 28, p. 173, 199, 352, 454; V. 29, p. 120, 357.)
Lawrence, Mass.—Total debt, $1,790,700, of which $20,000 are 7 per
cents. Sinking fund, $40,000. Tax valuation, 1879, $23,088,897; tax
rate, $16 40. Population, 1875, 34,916.
Lewiston, He.—Total debt, $1,096,100; sinking fund, $90,410. The
railroad bonds were issued to build the Lewiston & Auburn Railroad,
which is owned by the cities of those names. Assessed valuation, 1877,
$11,740,602; tax rate, 20 mills on the $1.
Louisville.—The funded debt, Jan. 1,1880, exclusive of loans payable
by railroads, was $8,072,000, against $8,079,000 Jan. 1,1879. The sink¬
ing funds on Jan, 1,1880, amounted to $4,619,980. Population by cen¬
sus of 1870 was 100,750, against 68,033 in 1860.
Rate of taxation
for all city purposes in 1878 was $2 17 on $100 in each district. The
following figures give the assessed property valuation: 1874, $78,295,114; 1875, $75,536,812; 1876, $71,849,772; 1877, $68,522,947; 1878,
$63,194,487; 1879. $64,018,242.
Lowell, Mass.—All the notes held by savings banks. Water loan sink¬
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, &c.
Assessed valuation of all property in 1879 was $9,137,990 real property
rate, <fcc., have been:
and $1,858,584 personal; tax rate, $20 per $1,000.
.
Real
Personal Rate of Tax
Total
Sinking
Newark.—The Donds in the first line in the table are payable out of the
Years.
Estate.
Property, per $1,000.
Debt. Funds, &c.
$27,072,779 $12,334,953 $14 30 $2,331,000 $147,951 sinking fund of 1859, which amounts to $114,900; those in seoond line
12,951,379
13 70
27,112,747
2,311,000 . 184,296 out 07 sinking fund of 1864, $1,017,000; public school bends out of
27,440,570
12,164,430
13 40
2,281,500
240,000 public school fund, $179,000; Clinton Hill bonds by sinking fuiid,
Lynn, Hews.—Total debt, January 1,1880, $2,147,487. Assets, $455,- $53,200: tax arrearage, $275,000; against local improvement bond*
the city holds $2,039,724 of assessments unpaid and a lien on the prop¬
633. Population, 1875, 32,600.
Manchester, N.H.—Total debt, $929,000; assets, $83,367. Assessed erty. Temporary loan bonds, January 1,1879, were $683,500. Valua¬
valuations (about 70 per cant of true value), tax rate per $1,000, Ac., tion of real property, 1879, $78,832,000. Tax rate for all purposes,.
1879, $2 06 per $100. Population in 1870,105,059. (V. 28, p. 253.)
have' been:
Years.
1876




.

,

xl

12

CITY
Subscriber* will confer

a

For explanations see notes

on

[Vol. XXX.

great favor by giving immediate notice of any error discovered In these Tables.

DESCRIPTION.
•

SECURITIES.

Date of
Bonds.

Size

outstanding

par

first page of tables.

INTEREST.

Amount,

or

Value.

Rate.

[ When

Principal—When

Where payable and by
whom.

payable

due.

Newark—( Continued)—
Aqueduct Board bonds
Bonds

$1,000

i

1879
1876-’77
1861-’74
1875

Tax arrearage bonds

New Bedford, Mass—City bonds

City improvement
War loa n

Water bonds
do
do
.New Haven, Conn— Sewerage

1876 "
1867 to ’76
1872-’74
1871
1861
1867
1877
.1852

City Hall
Derby Railroad ($20,000 payable yearly)
City bonds (10-20 bonds)

For

$3,030,000
450,000

1,000

165879.781

60,000
160,000
150,000

4,376,250
699,000
1,642.700
600,900
430,900
98,000
210,000
30,000
197,000
298,900

'

‘

-

N. O. Waterw’ks Co.

new

1864 to ’75 l,000Ac
1875
1,000
1841 to ’63 100 &C.
1872
100 Ac.
1846 to ’69 100 Ac.
1865-6
100 Ac.
1870 to ’79 500 Ae.
1871 to ’79 500 Ac.

New Tori:— Water stock
Water stock

Croton water stock.
l
New Croton Aqueduct stock
Additional new Croton Aqueduct
Croton v ater main stock
Croton Reservoir bonds
Croton Aqueduct bonds
Croton water pipe bonds
Cent. Park fund stock ($275,000
only

Improve ment bonds

‘

*

due ’98)

1865 to’74
1866 to’70
1869
1857 to ’59

100 Ac.
100 Ac.
100 Ac.
100 Ac.
500
500
100 Ac.
100 Ac.
500 Ac.
100 Ac.
100 Ac.
500 Ae.

357.000

835,000
2,147,000
500,000
2,900,000

3,618,600
5,086,000
970,637
490,000

1879
Third Avenue improvement bonds (23d ward)
1877
24,000
Central Park fund stock
1856
399,300
Central Park improvement fund stock...:
1858 to’71
3,819,800
Dock bonds
1870-’7o
6,975,000
Market stock
w
1865 A’68
296,000
City Cemetery stock
1869
75,000
City improvem’t si’k (part rcd’mable after ’96)
1876
2,215,900
do
do
1870-’73
500 Ae.
7,269,100
Lunati • Asylum stock
1869-’70 .100 Ae.
700,000
Fire Department stock
1869- ’70
100 Ac,
,
521,953
.Fire telegraph bouds
1870-’73
100 Ac.
597,586
Tax rein’ll bonds, coupon
1870
500 Ae.
3,000,000
N.Y.Bridge bds ($2,350,000 red.after July,’96) 1869-’79 500 Ac.
3,850,000
Accumulated ctebt bonds
1869-’70
100 Ac.
6,500,000
Street improvement bonds
1874-’77
100 Ac.
2,438,139
Street opening and improvement bonds
1871
100 Ac.
750,000
Ninth District Court-house bonds
1871
500 Ac.
300,000
Department of Parks improvement bonds.... 1874-’79 500 Ac.
2,168,000
Assessment bonds
1874-’78
500 Ac.
8,083.900
City parks improvement fund stock
1871-’78
500 Ac.
5,660,000
Normal school fund stock
1871
500 Ac.
200,000
Public school building fund stock
1871
500 Ac.
636,000
Additional Croton water stock
1871-V9
500 Ac.
1,289,000
;
Sewer repair stock
1872
500 Ac.
265,000
Consolidated stock
1874
500 Ac.
8,779.700
do
20-50 (redeemable July ’96;
1876
500 Ac.
2,058,350
Museum of Art and Natural
956,000
History stock.... 1873-’79 500 Ac.
Third District Court-house bonds
1874
500
398.000
Armories and drill-rooms
1877
500 Ao.
142,396
'Central Park commission Improvement bonds 1878 A ’79 500 Ac.
733,000
County Court-house stock
1862 to ’68 100 Ac.
1,620,000
do
do
No. 3
1871
100 Ac.
600,000
do
do
No. 4 & 5
1872 9
500 Ac.
584,600
Soldiers’ bounty fund bonds
1864
100 Ac.
4,000,000
Soldiers’ subs, and relief red. bonds
1864
100 Ac.
946,700
Soldiers’ bounty fund bonds, No. 3
1865
100 Ac.
745,800
Soldiers’ bounty fund red. bonds. No.,2
1865
100 Ac.
376,600
Riot damages indemnity bonds
1864 to’72 100 Ac.
855,204
Assessment fund stock
1868 to ’72 100 Ac.
1,719,400
do
do
1873
100 Ac.
493,200
do
do
1875
100 Ac.
900,450
Repairs to buildings stock
1870
100 Ao.
100,000
Consolidated stock, gold, coupon
1871 to ’72 500 Ac. 14,702,000
Accumulated debt bouds
1869 to ’70 100 Ae.
6,000,000

New Bedford, Mass—Population, 1879,
27,000.
(true value), rate of tax, Ac., have been:
Personal

Years.

Real Estate.

Property,
$13,524,097
13,137,011
12,874,418

Assessed valuations

Rate of Tax Total Debt,
per $1,000.
Bonds.

Trust-

Rate of Tax
per $1,000.

Total

-

Sinking

Years. Real Estate.
Property.
Debt.
Funds, Ac.
1876.. $35,178,404
$13,041,104
10 mills.
$965,513
$57,904
1877..
35,509,639
12,678,617
93t “
950,137
147,418
1878..
33,426,943
11,606,420
“
9
894,000
142,196
1879..
Not yet ascertained.
“
9
874,000
156,450
New Orleans.—A decision of Louisiana Supreme Court,
December,
1878, holds invalid the special tax provisions for consolidated bonds.
The floating debt, January 1, 1878, was $1,841,928.
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, 29*2. A scheme for settling
the debt by a bond premium drawing plan is in
practice, and drawings
take place January 31, April 15, July 31, and October 15. Population
in 1870, 191,418; in 1860, 138,670.
(V. 27, p.148, 228,629; V. 28,
p. 18, 352.)

f Newton, Mass.—Total debt, January 1,1880, $1,282,778;

sinking fund,

70,408. Tax valuation, 1879, $23,787,352; rate, $13 40 per $1,000.
opulation, 1875,16,105.
New York City— The total debt of New York,
January 1, 1880, was
$142,447,400; the amount of sinking funds, $33,021,985. The follow¬
ing statement shows the details of funded debt and the amount in the
city sinking fund at the dates named:
Jan. 1,’78.
Description.
Jan. 1,’79.
Jan. 1,1880.
Funded debt

Sinking fund
•

Net debt




$121,440,133

31,080,097

$126,128,815
32,143,787

$90,360,126

$93,985,028

<

•

F.
A.
A.
A.
A.
A.
A.
A.
J.
A.
J.
J.

•

•

5
5
6
5

A
A
A
A
6

6
6
7
6

A
A
A
A
A
A
A
A
A
A
A
A

A

$123,145,333
33,021,985

$90,123,348

do

O
O
O.
O.
O.
O.
O.
J.
0.

do

1886-’87

City Treasury.

1880 to 1889

do

1891 to 1910
1879 to 1884
1900 to 1904
1885 to 1909
1883 to 1909
Oct. 1, ,’91A1901

City Treasury.
do
tlo
do

J.
J.
Various
J. A J.
M. A S.
J. A D.
Various
J. A D.

July 1, 1881
Oct. 1, ’79 to ’86

July 2,1887-’97

New Orleans.

July 1. 1892
1874-5 A 1894

do
do
do
do
do
do
do
New York or London.
New Orleans.

F. A A.

Q.-J.

A. A O.

Jan.

1, 1899

March 1, 1894
June 1, 1895
1887 to 1897
Dec., 1880 i

Aug. 1, 1911
July 1, 1922
April 1, 1881

....

J.

City Treasury.
Boston, Comm’liwealth Bk

A J.

Q.—F.

■

<0

Aug. 1, 1884

Pi
+->

Aug. 1, 1900

p

Nov. 1,1900-1906
1907 to 1917

.

-5
d

o
w

o

£

Q.-F.
Q.-F.

q.-f:

1907 to 1911
1880
1887 A 1898
1884

a

•Ha

M. A N.
M. A N.

-

o

Jr
e

1880

1887-A 1895

Nov.1,1901 to ’10

Pi O
QJ QD
O

-

July 1, 1898

S'©

tT)

M. A N.

6 A 7
M. A N.
M. A N.
7
5 A 6 g. M. A N.
7
>1. A N.
6 A 7
M. A N.
6
M. A N.
6
M. A N.
M. A N.
7
5 A 6
M. A N.
7
M. A N.
5 A 6
M. A N.
7
M. A N.
M. A N.
7
5 A 6
M. A N.
5, 6 A 7 M. & N.
5,6,7A6g M. <fe N.
6
M. A N.
6
M. A N.
5, 6 A 7 M. A N.
M. A N.
6
6 A 7
Various
5 A 6
M. A N.
5 A 6
M. A N.
5 A 6
M. A N.
5
M. A N.
6
M. A N
6 *
M. A N.
7
M. A N.
5 A 6
M. A N.
6
M. A N.
6
M. A N.
M. A N.
7
7
M. A N.
6
M. A N
6
M. A N.
M. A N.
6 A 7
6
M. A N.
6
M. A N.
6 g.
Various
7
M. A N.

1880
Nov. 1, 1902
1883 A lr 90

t>0

m. a r.

5
6

July 1, 1905-’06

©

Q.-F.
Q.-F.

7
6
5
5

1879 to 1895
-

T3

M. A N.

5, 6 A 7 Q.-F.
5, 6 A 7 M. A N.l
6
Q.-F.
6
Q.-F.

6g.,5,0,7

1879 & 1892
1909

•

1894 A 1897

F-*

1888

M'S

’89,’92,’96A 1926
©
®

©

1889 A 1892

.

GQ

1889

£

o ®

W

1899
1884
1890
1905 A 1926
1884 to’88 l

©

o w
^

©

1880, ’82, A ’88

r—<

c3

1880 to’82
1890

--

Nov.1,1880 to’84
Nov.1,1880 to’84

ajft
O 00

J.

SB"

1901-1904
Nov. 1, 1891
Nov. 1, 1891
Nov. 1, 1891
Nov. 1,1882 A’85
1894 to ’96

otl
£3
o

£

*

ft.

May,’97,1916-’26
1903
Nov. 1, 1890
1880 A 1881

u

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
1887

;n? c3

S*
_Q

m

MCD

1903
00

-1910
1884 to’88
1896 to 1901
1884 to ’88

2
d

Description.

Jau. 1,’78.

Temporary debt

Jan. 1,’79.

Jau. 1, 1880.

$21,329,500

$13,481,500

6,051,424

$13,262,100

5,952,075

6,039,966

$117,741,050

$113,418,603

$109,425,414

Revenue bonds

Funds.

$12,609,200
$18 60
$1,178,000 $102,600
12,808,700
16 00
1,148,000
103,100
12,898,300
16 40
1,123,000
104,100
New Haven, Conn—Sinking fund on City Hall loan,
$57,740; munici¬
pal bond fuud, $18,277. The city made a special loan of $75,000 to the
New Haven A Derby Railroad, and guaranteed $225,000 of its second
mortgage bonds. Population, 1870, 50,840. Assessed valuations (about
80 per cent of true value), tax rate, Ac., have been:
Personal

Various Newark, Meeh. Nat. Banle.
do
"
do

5, 6A 0^2 Various

450,000
3,341,071
500,000

•

♦

7-3
7 g.
10
5

250,000

.

•

7*3

9,231,280

bds.(for $2,000,000)

Neicton, Mass—City bonds and notes
Water loan ($000,000 0s, balance 5s)

6
7
6
6
5
5
6
7
7
6
6
5
6
6
5
7
7
8

888,000
55,000
223,000
108,000
100,000
400,000
200,000
499,000

10,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

New Orleans— Consolidated debt
1,000
Railroad debt
;
1854-55
1,000
Waterworks loan of 1809
1869
Seven per cent funding loan of 1809
1869
Seven per cent funding loan of 1870
1870
Jefferson City (debt assumed)
’57, ’67,’70
Wbarf impr. bonds (assumed by lessees)
1870
Street improvement bonds
1871
1,000
Consol, gold bonds (gen’l and drainage series)
1872
1,000
Ten per cent bonds, deficit and old claim
1871
Various.
New premium bonds (in exchange)

7

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, rate
of taxation, and net funded debt at end of year, have been as follows:
Years.
1861
1865

/—Rate Tax p.

Real
Estate.

.

Personal
Estate.

$406,955,665 * $174,624,306
427,360,884 *
742,103,075
769,302,250
797,148,665
836,693,380
881,547,995
883,643,545
892,428,165
895,963,933
900,855,700
918,134,380 *

181,423,471

$1,000-^

State.

City.
$3 62 $16 36
4 96
2 70
4 43

24 94
19 80
17 27
5 20 23 81
292,597,643
5 41 19 59
1874t
272,481,181
6 95 -21 05
217,300,154
29 40
'
218,626,178
28 00
206,028,160
26 50
197,532,075
25 50
1879......
175,934,955
25 80
*
Less sinking funds.
t Annexed towns included.
Mayor Cooper, in bis message January 1,1880, gave-the
regard to the debt on November 30,1879:
“

At that date there

were revenue

Payable from taxes of 1877
Payable from taxes of 1878
Payable from taxes of 1879
Issued under

305,285,374
306,947,233
306,949,422

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

following in

bonds outstanding as follows:

$150,000
2,031,000
,

special laws

10,805,500
13,966
.

Total
The personal taxes uncollected Dec. 22,1879, amounted to.
The uncollected taxes on real estate, November 30,1879
amounted to.
1
The uncollected assessments Nov. 1 J879, ^mounted to

Total

Net Debt.*
$20,087,301

...

$13,000,466
$11,475,380
13,744,883
9,437,891

$34,658,151*

March,

Subscribers will confer a great

13

SECURITIES.

CITY

1880.J

immediate notice of any error

favor by giving

For explanations see notes

Size or
par
Value.

Date of

DESCRIPTION.

Bonds.

on first page of tables.

New York—(Continued)—
N. Y. and Westchester Co.

outstanding.

Consolidated stock
sinking fund deficiency
Debt of Westchester towns annexed
Consolidated stock, gold
Norfolk, Fa.—Registered stock
Coupon bonds ($20,000 6s are J. & J.)
Trust & paving, coup, (pav’g, $189,300, J.AJ.)
Coupon bds, water (a mort. on water works.).
JToi'wich, Conn—City bonds
City bonds
Water loan ($50,000 1890, $250,000,1898)...

m

m

,

m

$100Ac.
100 Ac.
100 Ac.

1,680,200
2,729,646

^

m

1878
1870-’74
1872-’73
1871
1868
1877

1,000,000

m

915,671

336,700
415,800
500,000
125,000
160,000
300,000
164,000

1,000
1,000
1,000
1,000
1,000

'

1875
1878
1858-’73
1862-’71
1869-’79
1869-’79
1863-’65

500
500
500
Improvement bonds
;.
500
Sewer bonds ($125,000 are M. A S.)
500
War bounty bonds
100 Ac
1877
Funding bonds, “A”
500
1877-’78
Renewal bonds,. “B”
50 Ac.
Philadelphia—Bonds prior to
—
50 Ac.
1855
Bonds for railroad stock subsidy subseript’m
50 Ac.
1855 to’71
do
for water works
50 Ac.
1859 to’70
do
for bridges
50 Ac.
1868 to ’70
do
for park and Centeunial
50 Ac.
1862 to 65
Bonds for war and bounty purposes
50 Ac.
1860 to’70
do
municipal, school, sewer, Ac
50 AC.
Guaranteed debt, gas loans
...
25 Ac.
1879
Four per cent loan (“A” to “ Y”)

bonds

■

•

11,650,000
15,709,750
5,999,400

9,199,760

74,500
50,000
7
195,000
205,000 7,6g.A7g
10
42,000
7
100,000
7
4,482,425

each year)

do

Bounty loan ($21,000 payable each year) —
Peoria A Rock Island Railroad
1868 t-o ’74
Pittsburgh—Water extern loan (coup, or reg.)...

Funded debt and other municipaLbonds....
Compromise railroad bonds (coup, and reg.)..
Bonds impr. Penn, av., &c. (local assessment).
Bonds for overdue interest (temporary loan).
Portland, Me— Loan to Atl.& St. LawrenceRR.
Loan to Portland & Rochester Railroad
do
'
do
do
do
Portland & Ogdensburg. .1

Municipal—proper, ($63,000 are„5s due ’83)..
Building loan bonds
.*
Providence, JR. I.—Bonds for public improvem’ts
Recruiting and bounty bonds
Water loan bonds, gold, coupon
do
do
registered
do
do
City Hall & sewer loan b’ds, sterling, cp.
do
loan of 1879
~

do

....

1867 to’69
1872
1872
1859-79
1867
1855
1863
1872
1874
1876

do
do

SI. Joseph, Mo.—Bonds to St. Jo. & Den
Bonds to Missouri Valley Railroad
Bonds for various purposes

City RR.

Bridge bonds.

PL Louis—Renewal and floating debt bonds
Real estate, buildings and general purposes..
Street improvement bonds
Water work bonds (old)
Tower Grove Park bonds (gold)

.

Sewer bonds

Harbor and wharf

bonds

1875

1879
1879

Renewal and sewer bonds (gold)

LOOOAc.

1,997,250
600,000
450,000
500,000
700,000
280,000
135,000

Large.
1,000
1,000
1,000

3,263,545
1,214,700
160,000
750,000
938,686

1,000

3,182,000
410,000

1875

100 Ac,

192,650

100 Ac.
100 Ac.
100 Ac.
500
500
1869
1858 to’69 100 Ac.
500
1871
1846 to ’71 Various
1840 to ’6*- Various
1855 to ’57 Various
1856 to’59 V arious
1868
1,000
1855 to ’6<
1,000
1852 to’69 Various

400,000

1669
1871
1872
1860 to’61

1,000
1,000
1,000

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

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 tlio City Government, as the reduc¬
tion in the State taxes is about equal to the reduction in the tax levy.

Norfolk, Va.—The assessed valuations
,

Real

and tax rate have been:

Personal Rate of Tax
Property, per $1,000.
$1,685,419
$19

Estate.
$8,487,207
8,576,130
8,703,895
8,775,416

Years.

1,639,866
19
1,480,763
19
1,497,130
19
Norwich, Conn.—The assessed valuations, tax rate, &c., have been:
Total
Sinking

Years.
1876
1877
1878
1879

Real
Estate.

...

$7,735,158

Personal

Property,

$3,725,846
3,273,074
3,039,564
3,057,099

Rate of Tax
per

8,184,815
7,794,678
- 7,435,418
Paterson, N. J.—Finances are apparently
...

...

...

$1,000. Debt. Funds, Ac.
$
$11
$765,664
763,277
8
3,535
771,863
7
9,191
777,312
9

in a souu*i condition. Back

(including 1878) were $667,786 January
valuations, tax rate, &c., have been:

taxes due

'

Real

'

Personal

1

Estate.

Property,

$17,835,114

Years.

$ 1,629,492

15,850,857
15,923,108

^

3,255,659
3,246,501

1,1879. The assessed

Rate of Tax
per

$1,000.
2i5
2*4
2^

Total

Debt.

$1,199,000

1,286,500
1,275,000
1,259,500

681,000

5 g.
5 £•

4*2
5
7
5

4*2
4l2

m

m

Due.

1891
1896 '
1880 to’86

-

1

See preceding page.

m

A
A
A
A
A
A. A
A. A

N.
J. Norfolk, Treasurer’s Office.
do
do
v
S.
do
do
O.
N. New York, Park N. Bank.
O. Thames N.Bk; Bost.,Bk.Eep
Norwich.
O.
do
Various
do
J. A J.
do
A. A O.
J. A D.
City Hall, by Treasurer.
do
do
J. A D.
do
do
J. A D.
do
do
J. A D.
do
do
J. A I>.
do
do
J. A D.
do
do
Various
J. A J. Phila., Far. A Mech. N. B'k
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
=
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
Various N. Y., Amfcr. Exch.Nat. Bk.
do
do
M. A N.
do
do
J. A D.
do
do
Various
M. A S.
City Treasury.
New York.
J. A J.
Philadelphia.
A. A O.
Various Pittsburg, Pliila. A N. Y.
T. A J. New York, B’k of America.
Philadelphia.
V arious

M.
J.
M.
A.
M.

1908-1928
1880 to’85
1890-’94-’99

Apl., ’92; July,’93
May, 1901
Oct. 1, 1893
April 1, 1907
1898,1908 A 1910
Jan. 1, 1905
April 1, 1908
Dec., 1879-1904
Doc., 1879-1900
Dec., 1879-1886
1S82-1902
Dec., 1879-1900
June, 1887
1901-1904
1879 to’85

)

> 1879 to 1903
)

)

} 1879 to 1905
>
1883 to 1905
1880 to 1904
1879 to 1890

May 15,1881
June 1,1888
1889-1891
Mcli 1, 1882 A ’83
July 1, 1888
1893 to ’98
1879 to 1912

1913
1883 to’85

ML, A N. Boston, Blackstone N. B’k. Nov., 1886,’87,’88
July, 1887
do
do
T. A J.
July 1, 1897
do
do
T. A J.
Sept. 1, 1907
do
do
>1. A S.
1879 to ’95
Boston and Portland.
m’nthl.v
June 1,1887
do
J. A D.
Sept., 1885
Providence.
M. A S
Jan., 1893
do
T. A J.
Jan., 1900
J. A J. Boston, Prov. and London.
Jan., 1900
J. A J N. Y., N. City Bank, A Prov.
July 1,1906
do
do
J. A J
July 1,1895
J. A J. London, Morton, Rose A Co
June 1,1899
Providence.
J. A D.
*
do
July 1, 1899
1892
do
J. A J.
„

M. A S.
M. A N.

Treasury.
Boston and Providence.
do
do

Sept. 1,1880-’84
May 1,1885-’86

1880-’89
Various
*
J. A J., 1880-1912
J. A J.
1886 A 1904-1909
J. A J.
1881 to 1903
J. A J. N Y., Metropolitan N. Bk.
1893
F. A A. New York and Rochester.
7
1880 to 1902
do
do
Various
6 A 7
Jan. 1,1903
N. Y., Union Trust Co.
J. A J.
7
1905
do
do
1880 to 1897
8emi-an
City Treasury.
4, 5 & 6
1880 to 1899
J. A J. Boston, First National Bk.
6
1891
do
do
F A A.
6
1892
do
do
M. A S.
6
1880 to ’89
Various N Y., Nat. B’k Commerce.
6 A 7
Nov., 1889
do
do
M. A N.
7
1878 to’89
10 A 6 Various St. Joseph and New York.
1891
J. A J. N Y., Nat. B’k Commerce.
10
1880 to ’91
Various N Y., Nat. Bank Republic
6
1880 to 1906
do
do
Various
6
1882 A ’87
do
do
Various
6
1880 to ’83
do
do
Various
6
Aug., 1898
do
do
6 g. F. A A.
1880 to ’89
do
do
Various
6
1880 to ’88 •
do
do
Various
6
6 g. J. A D. New York and St. Louis. June, 1887, to ’90
April 1,1892
6 g. A. A O. N Y., Nat. B’k Commerce.
1891 to ’94
do
do
6 g. Various
_

6
8
7

*

.

.

.

Personal

Real

Estate.
$585,408,705

Years.

Rate Tax

Estate.
per $1,000.
$10,004,673
$21 50
9,755,000
22 50
9,439,769
21 50
8,069,892
20 50

593,313,532
577,548,328
526,539,972
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,
p. 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.)
Portland, Me.—The sinking fund and available assets March 31,1879,
were $360,815.
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:
Real
Sinking
Personal Rate of Tax Total
Years.

1880, was $70,979,On January 1, 1879, funded debt was

Philadelphia.—The total funded debt, January J,

004; floating debt, $1,294,554.

6
6
6
6
5 A 6 ~
6
6
5
5 A 6 g.
5 A 6 g.

1,500,000

£100
lOOOAc.

Ac.

1,000

lOOOAc,
Various
LOOOAc

1867 to ’7<
1872
1871 to ’71

New water work bonds (gold)
do
do
'do

lOOOAc.
lOOOAc.
LOOOAc.
LOOOAc.

450,000
1,350,000
1,704,600
325,000
600,000
300,000
2,347,000
1,653,000

1 500

Public improvement loan, registered
1872
Prov. & Springfield rr. bonds, guaranteed...
1877
Brook Street District certificates
1879
do
do
do
coupon
1877 & ’79
New High School Building certificates

Richmond, Fa.—Bonds, reg.,($118,000 are coup.)
Bonds, reg. and coup. ($216,000 are coup.)...
Rochester, N.Y.—To Genesee Valley Railroad ..
To Roch. & State L. and R. N. & P. Railroads.
For various city improvements
Waterworks loan, coupon and registered
Funding loan
Rockland, Me.—City bonds
Railroad loan ($20,000 payable yearly)

787,000
700,000

1,000

500 Ac.

.

.

1 405 000

’68,’69,’70

or reg

6 A 7
4 A 5
7

1,641,000
2,179,469
5,127,700

1845 to ’72
1863
1871 to’73
1879

7
5
7
7
7
7
7
6
6
5 A 6
6
6
6
6
6
6
6
4
7
10

4,853,500
8,701,600

Water loan
v

m

•

5, 6 A 7

125,000
135,000
33,000
369,000
417,000
100,000
90,000
5,753,391
1,725,000
6,500,000

Peoria, Ills.—School loan
Water loan ($50,000

•

1

50,000

consolidation

M. A N.
J. A D.
M. A N.

5 g.
6
6 A 8
8
8
7
5

6,900,000

500 Ac.
100
100
100
100

’68,’78,’80

>

78990577811 8811876-9.0,
•Court House

Sinning fund bonds

Pay’ble

6
7
7

$30,000

Principal—When

Payable and by
Whom.

•

1870
1874
1874

improvement bonds

For State

Paterson, N. J.—School
Funded debt bonds

Where

When

Rate.

discovered in these Tables,

INTERJS8T.

:

Amount

Estate.

Property,

$11,951,855
19,067,200
11,825,645
11,458,354
19,212,800
19,825,800 • 10,359,128

$18,708,500

$1,000, Debt. Funds, &c.*
$25 00 $6,050,200 $664,999
25 00
5,507,900 377,061
5,316,600 360,815
25 50

per

25 00

These do not include the sinking funds for railroad loans.
$61,092,641, and floating debt, $10,742,458. Total assets, including
sinking fund, railroad stocks held, and $3,532,264 of taxes “ due ana
Providence, R. J.—The principal debt of Providence has been created
collectible,” and $1,853,456 cash, were $25,718,373, leaving balance of since 1872 for water works, sewerage, new City Hall and Brook Street
liabilities, $46,546,222.
The following table exhibits the assessed Improvement. The sinking fund for bonds due in 1885, $553,171;
valuation and tax rate in the city since 1871, the assessed value of real
sinking funds of 1893, $206,070; 1895, $181,021; 1900-6,$108,458.
©state being near its cash value:
Real
Personal •
Rate Tax 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
Years.
Estate.
Estate.
per $1,000. valuation.
Assessed valuations (true value), tax rate, Ac., havd
$539,003,602
$9,239,933
$22 00 been:
565,849,095 .
9,434,873
21 50




*

t

14

CITY

Subscribers will confer

a

Date of
Bonds.

Size

St. Louis—[Continued.)—
Renewal purposes, gold or sterling
Renewal, &c., bonds, gold, $ and &
coupon..

Value.
1873
1875
1874-’79
1880
1872

outstanding.

$1,000

6 g.
6 g.
6 g.
5 g.

461,000

6g.

.

18571887769..781187596.
1853 to ’55
1867

Asylum

County Jail

-*

General purposes, gold
Renewal
Park bonds, coupon, gold

County bonds

St. Paul, Minn.—Revenue bonds
Preferred bonds
8 per cent bonds
Lake Superior & Mississippi Railroad
St. Paul & Chicago Railroad.
Public Park (Como.)
Local improvement
Bonds

Salem, Mass— City debt
Citydebt

m

.

.

.

.

City Hall construction

Widening Dupont St. (Act March 4, 1876)

Savannah, Oa— New compromise bonds
Somci'rille, Mass.—City debt

1875 to’76
1876
1879
100 &c.
....

•

City debt..-.

•

•

do

.

115,000

110,000
300,000
500,000
398,500
542,000

.

.

■

....

....

....

....

Water loan ($200,000 are 6 per cents)
Railroad loan

Toledo, O.—General fund city bonds, coup

....

....

’70,’71,’76

Toledo & Woodville Railroad, coupon
1870
Water works
1873 & ’74
Short bonds, chargeable on special assessm’ts 1875-’78

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.)
Sewer loan ($92,000 are J.& D., balance J.&J.)
Water loan ($305,400 reg., $80,000 coup.)

Personal

Rate of
Tax per

Property.
$36,084,200

$1,000.
$14 50

....

....

....

.

.

.

.

....

10,000

461,000
165,000
115,000
140,854
200,000
325,000

Various.

....

$155,000 J.&J.)

385,000
200,000
475,000
210,000
150,000
750,000
915,000
3,000,000

Large.

.

....

435,500
377,000
250,000
197,000
246,000

Various.

....

Springfield, Mass.—City notes
City bonds

Estate.

100,000

Large.

•

....

do
do
do
Park Awat’r ($170,000 A.&O.;
Water loan

500
500
500
500
500
500

&c.
&c.
&c.
&c.
&c.
&c.
&c.
Ac.
&c.
&c.
&c.
&c.

Large.

lOOO&c.

Large.
Large.
Large.
1,000
1,000
1,000
....

7
8
6
6
7
7
6
5 & 6
6
6
5
6 g.
7 g.
7 g.
7 g.
7 g.
7 g.
7 g.
6 g.
6 g.
6 g.
7 g.
6 g.
7 g.
5
7

100,000

1,000
1,000

500
500
500
500
500
500

5, 6 & 7

48,710
263,125
200,000
100,000

.

...

7 & 6 g.

707,425

^

do
1877
San Francisco— Bonds of 1858, coupon (gold)..
1858
Judgment bonds, coupon (gold)
1863 to’64
Central Pacific Railroad, coupon (gold)
1864
Western Pacific Railroad,
1865
do
do
School bonds,
do
do
1866 to ’67
Judgment bonds,
do
do
1867
School bonds
1870 to ’72
School bonds
1874
Park improvement bonds
1872 to ’75
Hospital bonds
1871 to ’73
House of Correction bonds
1874

Years.

950,000
100,000
500,000
600,000
850,000
1,900,000
500,000

....

Water loan

Real

1,000
1,000
1,000
1,000
1,000
1,000
1,000

1868
1872
1873 to ’76
1875
1875
Various. Various
Various. Various
Various
1868
500 Ac.
1870
1,000
1873
1,000
1873
1,000
1879
1,000
100 &c.
100 &c.
_

7
7
6
7 & 6
6
6

gg.
g.
g-

6*2
6*2
6

5^
5

6^2
320,000 5i2,6,6i2
222,000
4i2,6
6
211,000

1,200,000

280,000

6 & 7
7

1,310,000 *6, 7 & 8

....

447,000

....

1,000,000

....

Large.
...

Rate.

$1,074,000
707,000
2,747,000
565,000

1,000
1,000
1,000
500

INTEREST.

Amount

or

par

For explanations see notes on first page of tables.

Insane

[Vol. xxx.

great favor by giving Immediate notice of any error discovered In these Tables.

DESCRIPTION.

Renewal, &c., bonds, gold, $ and £,
Renewal bonds, gold, $ and &
Bridge approach bpnds (gold)
St. Louis County bonds assumed—
Bonds to railroads, coupon

SECURITIES.

-

500 &c.
500 &c.
Various.
500 &c.

640,300
45,000
500,000
800,000
500,000
311,900

385,400

7-3
8
7 & 8
5 & 6
6
6
5
5 & 6
5 & 6

When

Pay’ble

Sinking

Funds. &c.

Years.

Principal—When

M. & N.
New York or London.
M. & N.
do
do
J. & J.
do
do
J. & X
do
do
J. & D. N. Y., Nat. B’k Commerce.

Due.

Nov.

1,189$

May 1, 1895
1894 & 1899
Jan. 1, 1900

Dec. 10,1892

J. & J. N. Y., Nat. Bk. Commerce.
1880
J. & J.
do
do
July 1,1887
M. & S.
do
do
Sept. 1, 1888
J. & D.
do
do
June, 1892
J. & J.
do
do
1889 to 1890
A. & O.
do
do
April 1,1905M. & N.
do
do
May 1,1895
M. & N. N. Y., Kountze Brothers.
1880 to’90
M. & N.
do
do
1883 to’86.
Various
do
do
1889, ’90, ’96J. & D.
do
do
1888 &’98
J. & D.
do
do
1900
do ‘'
do
1903
J. & J.
do
do
1898
A. & O.
do
do
April 1, 1904'
J. & J.
1879 to 1889
City Treasury.
J. & J. Boston, Merchants’ Bank.
Jan. 1, 1801
A. & O.
do
*
do
Apl. 1,1883-189&
J. & J.
do
do
July 1,1904
J. & J.
San Francisco.
Jan. 1, 1888
A. & O.
do
Oct. 1, 1883
J. & J.
do
July 1, 1894
M. & N.
do
May 1, 1895
A. & O.
do
April 1,1881
A. & O.
do
Oct. 1, 1887
J. & D.
do
June 1,1882 to *90J
& J.
do
July 1, 1894
J. & J.
do
1897 & 1904
M. & N.
do
Nov. 1, 1891
J. & J.
do
July 1,1894
..
do
1899
*
J. A J.
do
1896
New York and Savannah.
Q-F.
Feb. 1, 1909
A. & O, Boston, Nat. Security Bank
April 1, 1879
A. & O.
do
do
nil. 1879 to ’8*
J. & J.
do
do
Various
do
do
Various
do
do
Various
do
do
?i., no, Juiy, ;
Various
do
do
1881 to 1884
Various
do
do
1880 to 1906
Various
1879 to 1884
City Treasury.
Various Boston, First National B’k.
1880-1889
A. & O.
do
do
A. & O.
do
do
Various N. Y., Imp. & Trad. N. Bk.
1880 to ’94
M. & N.
do
do
May, 1900
Various
do
do
lune.’93& Sep.,'94
Various
do
do
1879 to '81
J. & D.
1879-1884
City Treasury.
J. & J.
do
Jan. 1,1881
A. & O. C.Treas.A Bost. Mchts.’ Bk.
April 1, 1892
Various
do
do
1887-89 & 1905
Various
do
do
1880 to 1899
Various
do
do
1880 to 1906

Assets in

Total
Debt.

Where Payable, and by
Whom.

....

.

.

Personal
Real Estate.

$20,836,710

Property.

$6,919,216

Rate of Tax
per $1,000.

22 mills.

Total

Debt.

Sinking
Funds, &c.,
$616,292
551,755
567,642
616,000
656,000

$1,323,812
$9,632,246 $1,123,442
18,835.525
6,340,493
16
“
1,332,500
14 50
85,789,800
32,085,000
10,294,446
1,195,253
18,993,545
18
“
5,452,871
1,327,200
14 50
86,341,100
30,699,400
10.590.550
1,292,697
17,300,486
5,491,026
13
“
1,356,444
28 765 600
86,816,100
14 00
10.475.550
1,237,008
17,300,766
5,942.503
15
“
1,519,310
State valuation, $168,547,726; city valuation,
$115,581,200 (V. 28, p. —Valuation of real estate is about 40 per cent of true value.
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 wasvalue), rate of tax, &c., have been:
Rate of tax
149,482, against 56,802 in 1860; in 1876 claimed 272,000. Real estate
1
Real
for the fiscal year ending June 30, 1878, was assessed at
Personal
per $1,000
Total
$190,221,003;
Years.
Estate.
in old Wards.
personal property at $70,041,340. About $54,000,000 of mortgages are
Property.
Debt.
now omitted from assessment.
$53,661,475
$1,958,900
18*75
$5,594,686
Sinking funds raised annually amount to48,196,975
20-21
2,003,800
5.549.186 $263,500. Tax rate in 1877-8 was $1 60 per $100, for city and coimty
42,658,350
19-64
1,706,300
5,471,686 purposes. (V. 28, p. 165.)
37,717,175
1,584,940
21-79533
Savannah, Ga.—Default was made on interest Nov. 1, 1876, in conse¬
5.446.186
Richmond, Va.—Real estate assessed, 1880, $28,348,283: personal, quence of yellow fever and non-collection of taxes. The compromise
now virtually carried out is
$7,471,488. Tax rate, $1 40.
given in V. 26, p. 625, by which new 5 per
cent bonds are exchanged for the face of old bonds; and for interest
up
Rocklatul, Me.—Valuation of real estate, 1879, $2,488,883 : personal, to Feb.
1,1879, 58 per cent of the face value in similar bonds. Assessed
$1,069,436. Tax rate, $29 per $1,000.
value of real estate, $14,000,000;
personalty, $4,200,000; tax rate, l1*
St. Joseph, Mo.—Population in 1870 was
19,565, against 8,932 in per cent. Population in 1870, 28,235, against 22,292 in 1860. (V. 26*
1860. Assessed* valuation of property, $11,000,000; rate of
tax,-23 p. 18, 626; V. 27, p. 122, 173, 568; V. 28, p. 17.)
mills. (V. 23, p. 135,175; V. 25, p. 408; V.
Somerville, Mass.—Total debt, January 1, 1880, $1,585,000; sinking28, p. 477.)
fund, $198,000. Except $140,000 5s in $1,000 pieces, all bonds are in
St. Lou is.—Population by the United States census in
1870 was
310,864, against 160,773 in 1860. The city and county were merged $2,000 to $50,000 pieces.
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
valuation and rates have been:
follows: The bonded debt at the close of fiscal
year (April 9, 1880) is
Personal Rate of Tax
$22,507,000. A claim of the St. Louis Gaslight Company for gas fur¬
Total
Sinking
Years.
Real Estate,
nished ($535,990 without interest) is involved iu suit now
Property, per $1,000.
Debt.
Funds.
pending in
Circuit Court. The sinking fund at the commencement of the
$31,125,660 $8,398,912
$17 20
$2,120,819 $335,925
present
fiscal year was $547,181. Assessed valuation of
27,647,560
16 20
7,461,896
2,013,785
344,458
property and tax rate
have been:
23,737,000
13 00
6,955,776
1,946,611
303,980
Real Estate
-Rate of tax per $1,000.
22,746,330
6,637,845
11 00
1,953,716
153,635
and Personal
New
Old
7,230,094
12 00
1,960,750
Bonded
139,270
Sinking —Valuation22,211,230
of real estate is about 67 per cent of true value.
Years.
Limits.
Property.
Limits.
Debt.
Funds.
Toledo.—Total debt, January, 1879, was $3,531,296. Of this the debt
..6781
$162,465,41#
$20 00
$19 00
$16,319,000 $718,588
...7781
5 00
179,708,760
17 50
23,067,000
716,802 payable by special assessments was $640,300, and the certificates of
..8781
5 00
indebtedness, $103,147. Taxable valuation of real estate, 1878, $134,173,086,330
17 50
22,655,000
590,095 030,070;
1879
5 00
personal, $5,567,000. Tax rate, $3 28 per $100.
164,399,470
22,596,000
547,181
Worcester, Mass.—Total debt, January 1, 1880, $2,542,800. Assets,.
Minn.—.Population in 1870 was 20,030; in 1879 (claimed), $210,658, including $94,937- sinking
v© .Assessed valuations.of taxable
fund. Population, 49,317in 1875*
property and tax rate have been: Tax valuation, 1870, $34,018,450; 1878,
$36,572,158; tax rate, 1*56,
$84,981,000

1

,
c

.

Ifaul,




Subscribers will confer a great

Date
of
of
Road. Bonds
Miles

of tables.

first page

15

BONDS.

AND

favor by giving immediate notice of any error discovered in these

DESCRIPTION.
on

STOCKS

RAILROAD

March, 1880.]

Tables*
Bonds—Princi¬

INTEREST OR DIVIDENDS.

Size,

or
Par

Amount

Value.

Outstanding

$1,000

$1,000,000

5781
6
8

When

Rate per

Cent.

Where

pal, When Due.

Payable, and by
Whom.

Payable

Stocks—Last
Dividend.

*

Alabama Central'—1st mortg. gold coupon
Ala.d Ot.South’n.—Receiver’s certific.of AJa. ACliatt

mortgage

1878

....

Albany City loan (sinking fund, 1 per ct. yearly).
“2d mortgage
3d mortgage, sinking fund
•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 Extern, guar, by Pa. RR—
Funding Income bonds, with traffic guarantee—
Ashtabula d Pittsburg—1st mortgage, coup, or reg..
Atchison Col. d Pacific—1st mort., guar

....

296
201
142
142
142
142
142
262
132
110
110
262
62
188
176
149

1878

1,000

....

867

1869

....

100

....

1863

1,000

1865
1865
1869.
1876

1,000
1,000

500 Ac.

1,000
50

1866
1870
1871
1874
1878
1879

1,000
....

1,000

100 Ac.

1,000
1,000

16,000,p.

59781
Atchison d Nebraska—Stock
1st

mortgage

Atchison Topeka d Santa

Fe—Stock

1st mortgage, gold
Land grant mortgage, gold
Consol, bonds, gold
Construction notes
Land income bonds, 5 to 10 years
Pottawatt’mie b’ds on 7S,158 ac. land(contingent)
Wichita A Southwest, (leased) 1st M., gold, guar..
Kans. City Top. & West., (leased,) stock
do
5
do
1st mort., gold
income bonds
do
do
.'
Pueblo A Ark. Valley, (leased,) 1st M., gold
do
do
1st mortgage

....

....

1878

*

1870

100 Ac.
100
500 Ac.
500 Ac.

.....

....

....

....

....

....

1878

....

27*2

....

65

.

.

.

.

148

....

1872
....

1875
1878
....

500 Ac.
....

1,000

....

1,000

1878

and June 21,1871.
1,1872, and finances
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,(XX). 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.
name changed to Selina A Meridian,
re-organized as Alabama Central. Default January

Subsequently

<V. 27, p. 40, 566.)

Alabama Great Southern.—Northeast & Southwest Alabama char¬
tered December 12, 1853. Re-organized as Alabama & Chattanooga
October 6,1868, and was opened May 17,1871. Length of road, 290

leased from Nashville Chatta¬

nooga A 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. (V. 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.)

Albany d Susqiiehanna.—Chartered April 19,1851, and road opened
14, 1869. Length, Binghamton to Albany, 142*59 miles.
Gauge, 6 feet and 4 feet 8*3 inches, a third rail being laid within the
wider track. Steel rail, 135 miles. Leased for 150 years from February,
1870, to Delaware & Hudson Canal Company; rentals, 7 per cent on
stock and bonds. Additions and betterments charged to lessors, and
cost made part of investment. In 1871 lessees built the Lackawanna &
Susquehanna Railroad from Niuevah 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 & 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,
Ace.), $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.
Loss to lessees, $142,493. (V. 27, p. 602; V. 29, p. 581.)

January

Allegheny Valley.—Chartered April 14, 1851.

Road opened to Kit¬

tanning (46 miles) January 26,1856; to Brady’s Bend (69 miles) June
27,1867, and to Oil City (132 miles) February 2, 1870. Low-Grade
Division, Red Bank to Driftwood (110 miles) opened June 1,1874. Total
length, including branches, 259*3 miles. The company became embar¬
rassed in 1874 and compromised with its creditors. It still falls short of
earning interest liabilities, which amount to $1,615,900 a year, viz.: on

mortgage bonds, $1,135,000, and on income bonds, $480,900. The
sinking fund for second mortgage ($100,000 a year) is paid. The amoimt
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 October 1,1879, received $11 50 in cash
and $23 50 in bond scrip. Of the income bonds the Pennsylvania RailToad Company hold $4,006,000, the interest on which is paid altogether
in bond scrip; the bonds held by individuals are paid in cash and scrip.
Capital stock, $2,166,500; funded debt, $17,100,000; income bonds,
$6,870,000; bills, real estate mortgages and other liabilities, $569,157;
and interest accrued, $2,280,165; total liabilities (December 31,1878),

t28,985,822. Cost of road, Ac. ($92,981$3,008,049; $24,128,597; assets,
$1,849,176, and profit and loss, per mile), total property and
;c.,

Gross earnings in 1878, $1,910,222, and expenses
cent), $994,495; net earnings, $915,727. Interest and
sinking fund paid, $1,255,987. Interest, Ac., in excess of net earnings,
$240,260. The business and earnings for five years past were as follows:

assets, $28,985,822.

<47*94

per

Passenger
Mileage.

Years.
1875

12,448,963
14,939,527
19,833,405
15,874,054

1876

1877
1878

Freight (ton)
Mileage.
95,859,906
98,029,140
106,609,036
84,077,541

Gross
Earnings.

$2,399,638

2,438,254
2,492,080
1,910,222
1,745,316

3*2
7
6
7
7
7

Net
Earnings.
$984,642
1,083,796

1,144,972

915,727

J.
M.
.T.
J.
J.
M.
A.
M.
A.

A
A
A
A
A
A
A
A
A

J. N. Y., Jesup, P.
S.
J. N.Y.,Farmers’ L.
J. N. Y., B’k
J. N.Y.,Del.
do
N.
do
O.
do
N.
do
O.

A Co.

July 1, 1918

of Commerce.

1882
Jan. 1, 1908
Jan. 1, 1880

AHud.Can.Co

July, 1888

A T. Co

do
do
do
do

Nov., 1895
Oct., 1885

May. 1881

April 1, 1906

A J. N. Y., Winsiow, L. A Co. March i, i896
Jan’ary Harrisburg, Treasury. 100,000 y’rly.
7 or 6 g. A. A 0. Philadelphia or London April 1*, 1910
Oct. 1. 1894
A. A O.
7
Pittsburgh.
F. A A. Phil., Fid. I.T. A S.D.Co. Aug. 1, 1908
6
6
May 1, 1905
Q.-F. N. Y., Hanover Bank.
Dec., 1878
1
Boston, Office.
Mar. 1, 1908
M. A S.
7
Boston, at Office.
Feb. 1, 1880
Boston.
F. A A.
3
do
7 g. J. A J.
July, 1899
do
Oct. 1, 1900
7 g. A. A 0.

7*30 J.
5

m.

3,344,650
1,125,000
10,615,000
7,041,000
3,265,000
3,389,000
78,000
480,000
413,000
412,000

^

7 g.
7
8
7
7 g.
3
7 g.

100

1,000

Alabama Central—Chartered as Alabama & Mississippi February 17,
1850, and road opened from Selma to York (81 miles) August 10, 1863,

miles; operated length (including 6 miles

6
8
6 g.

600,000
1,100,000
3,500,000
1,000,000
933,000
2,000,000
253,000
1,960,000
2,166,500
4,000,000
3,100,000
10,000,000
6,870,000
1,500,000

....

....

lstmortgage, coupon, (for $1,750,000)
Albany d Susquehanna—Stock
1st

95

854,000

J.
M.
J.
F.
J.

200,000

A J.
A
A
A
A

N.
J.
A.
J.

A

J.

.

7 g.

1,719,000
1,067,000

bonds up to January

J.

1903
1882

do
do
do
do
do
do
do
do
do

A. A O.

•X. A J.

Jafi. 1, ’83-’88

1879
1, 1902
Feb. 2, 1880

Nov. 1,

July

July 1, 1905
1905

do

1,1877.

Default July 1,1878, and property sold

August 21,1878. Existing company organized September 25,
it is leased by Penn. Co., which pays net earnings to A. A P.
Stock.

Bonds.

Earnings.

Expenses.

$1,817,582

$1,900,000
1,900,000
2,000,000
1,500,000

$168,486

1,817,582
1,817,880
1,671,867

$226,816
266,641
227,206
271,658

Years.

Stock of

new

company—Com., $957,400, and pref.,

178,998
176,993
181,731

1878, and
Profits.

$58,330

87,643
50,213
89,927

$700,000; par, $50„

Pacific.—A notice issued in Feb., 1880, by Henry
Day and Oliver Ames, trustees of the first mortgage bonds, stated that
the Waterville A Washington, Republican Valley, Atchison Solomon
Valley A Denver and the Atchison Republican Valley A Pacific railway
companies had been consolidated into anew company called the Atchison
Colorado A Pacific Railroad Company, and a new first mortgage of $16,000 a 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.
(V. 30 p. 221.)
Atchison dk Nebraska.—The road (148 miles) was opened Aug. 27,1872.
Default wasmade Sept. 1,1873. In 1880 the road has been opened to ajunction with the Union Pacific at Columbus, Nebraska.
Reorganization took
place March 1,1878. Under the scheme adopted, the old stock was sunk;
the old bonds ($3,500,000) were exchanged 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. Balance sheet January 1,1879—Capital stock, $3,344,650;
funded debt, $1,126,400; accounts and sundry balances, $37,063, and
income account, $3,307; total, $4,511,420. Construction ($29,410 per
mile), $4,371,736; county bonds, $30,000; and other assets and cash,
$109,684; total, $4,511,420.
Gross receipts (1878), $452,057; and
expenses and taxes, $353,651; net earnings, $98,406. It is expected
that the road will be consolidated with the Burlington A Missouri
River in Nebraska, and with that road go to the Chicago Burlington A
Quincy. (V. 28, p. 399; V. 30, p. 221.)
Atchison Topeka d Santa Fe.—Main line, Atchison, Kan., to State line,
Colorado, 470 miles; proprietary lines, December 31, 1878,398 miles;
additional lines built in 1879—in Kansas, 165 miles, and in New Mexico,
163 miles; total at close of 1879, about, 1,196 miles. Construction in
active progress and road opened to Santa Fe. An agreement was made
in February, 1880, with the St, Louis A San Francisco, for the joint con¬
struction of a liue to the Pacific, under name of Atlantic A Pacific.
(For terms see St. Louis A San Francisco.)
The company in 1879
was
engaged in sharp litigation with the Denver A Rio Grande.
In January, 1880, the terms of mutual agreement, by which the suite
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 A Rio Grande goes back to its owners, and the company is
to have the line to Leadville (through the Grand Canyon) upon the pay¬
ment of the cost of the road already built by the Atchison 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
A 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 A Rio Grande Railroad. An equal
division of the Leadville, San Juan and other Southern Colorado busi¬
ness from the Denver A 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 Denvei traffic with the Missouri River and eastern
points. The Atchison Topeka A Santa Fe Company reserves the right to
build a line of about thirty-three miles in length to its coal mines in
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.
Operations and earnings for five years have been as
Atchison Colorado d

follows:

Passenger

Years.

Miles.
540
711
738
807

1,196

Mileage.
7,166,852
17,031,491
22,008,549
31,921,869

Freight (ton)

Mileage.
46,244,990
61,791,130
72,719,170
133,180,182

Gross
Earnings.
$1,520,358
2,486,582
2.679,106
3,950,868

6,338,447

Net
Earnings.
$821,608
1,311,093
1,356,421
1,909,396

Two million dollars stock was issued for equipment, Ac., June, 1879.
Land grant estimated to be 2,932,784 acres, of which 865.161 acres
were sold to January 1,1879.
The K. C. T. A W. is leasd at 30 per

cent

in 1880 and thereafter. Th#
at 37 per cent
<V. 27, p. 356; V. 28, p. 399; V. 29, p. 356.)
all business to and from
222, 301,379.
Ashtabula d Pittsburg.—Youngstown, O., to Astabula Harbor, O., 62*6
miles; organized as Ashtabula Youngstown A Pittsburg in 1870, and road 400, 427, 475, 502, 553, 623, 641; V. 29, p. 40, 66, 95,119, 224, 293,
•opened May 1, 1873. Pennsylvania Company, as lessees, guaranteed 356, 406, 489, 562, 583, 630; V. 30, p. 16, 42,143, 168, 191.)
1879.




o- •

\

761,835

of gross earnings, rising to 34 per cent
New Mexico A Southern Pacific is leased for thirty years
of gross earnings and a rebate of 15 per cent on
the A.T.A8.F. Road. See V 30, p. 168. (V. 28, p. 120,

STOCKS

RAILROAD

16
Subscriber* will confer

a

Date Size, or
of
For explanation of column headings, <fcc., see notes
of
par
on first page of tables.
Road. Bonds Value.
*

44

_

1874-56

do

1,000
1,000
100

87

428
428
428
81
81
81
133
133
133
214

Virginia & Tennessee—Enlarged mortgage
ao
do
4th mortgage
do
do
Registered certificates....
do
do
Interest funding bonds....
Atlantic <t St. Lawrence—Stock, sterling
Portland city bonds, 1st mort., sinking fund
2d mortgage, sterling, 5-20 years
do

1,000

100

265*2
265*2

Atlanta <& West Point—StocK
Atlantic Miss. & Ohio—Stock (com’n. pref. & guar.)..
1st mort. consolidated, gold (for $15,000,000)
2d mort. to the State (no interest till 1880)
Norfolk & Petersburg—1st mortgage, extended.,
do
do
1st
do
do
do
do
do
2d
South Side—1st pref. consol, mort
2d
do
do
guar. Petersb’rg
do
*
3d
do

$500
1,000

1878
1877

380
380

1st

mortgage, gold....
Atlanta <& Charlotte.—New pref. mort
;
Mortgage bonds

3d

1877
1877

31

214

150
150
150
150
53
51
51
595

do

Augusta <& Savannah—Stock

Bald Eagle Talley—1st mort., s. f.($5,000 per year).
2d mortgage ($5,000 per year)
Baltimore <k Ohio—Stock
Preferred stock
Washington branch

1,000
100
100
100

1853
1870

....

•

*

•

*

Atlanta <t Charlotte Air-Line.—Charlotte, N. C., to Atlanta, Ga., 269
miles. Successors of 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 5,
1876, and purchased by the bondholders, who formed the existing cor¬

poration February 27, 1877, and possession

was

taken April 16,1877.

The line forms the Southwestern Division of the Piedmont Air-Line

gmder control of the Richmond 550Danville Capital stock, $1,700,000,
Ichmond, Va., to Atlanta, Ga., &
miles. Railroad), extending from
and

funded

debt $4,750,000; total investment ($23,978 per mile),
Total receipts (1878r79) $730,974, and expenses $634,031;
net earnings, $96,943.- Interest paid (preferred
mortgage coupons),
$35,000. Surplus over interest, $61,943. Interest on the first mortgage
registered bonds ($4,250,000) has heretofore been conditional; but from
January 1,1880, it is compulsory. (V. 28, p. 277, 427.)

$6,450,000.

Atlanta dt 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, &c. ($14,784

per

mile), $1,193,636; gross earnings in 1878-

79, $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
Surplus, $19,166. (V. 27, p. 121; V. 29, p. 300.)
Atlantic

Mississippi dj Ohio.—This

per

cent), $98,576.

a

three months after it falls dm;. 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 $6,000,009, 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,

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
surplus of bonds shall be canceled, or the surplus proceeds of bonds sold
shall be paid over to the new company. There are to be issued second
mortgage 5 per cent gold bonds, for the principal of the consolidated 7
per cent gold bonds, at par, the new bonds having 50 years to run from
the first of April, 1879, these bonds to bear interest at 4
per cent for the
first five years and 5 per cent thereafter. This second
mortgage is not
to be foreclosed except by request of “at least one-fifth of the
outstanding
bonds, secured by the mortgage, and not then unless the said mortgage
trustees shall deem such proceedings judicious and
advantageous to
such- bondholders generally.” There snail be issued first income 4
per
cent currency bonds, to represent at par the over-due interest on the con¬
solidated bonds to the first of April, 1879; the difference between the
Interest secured by the consolidated 7 per cent
gold bonds and the
interest secured by the new second
mortgage gold bonds, capitalized
from the first of April, 1879, to the first of
October, 1901, inclusive.
There are to be issued second income 6
per cent currency bonds, to settle
the claim of the State of Virginia, for $4,000,000. These bonds will be
subordinate in all respects, in point of
obligation and interest, to the first
income bonds.
The new company will create and issue, from time to
time, to the “ Purchasing Committee” such an amount of reorganization
stock 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 of 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 & Charleston, so as to
make a through line from Norfolk and
City Point to Memphis—a total
length of road equal to 992 miles. Operations and earnings for five years

past

were:

Years.




Miles,
423
423

Passenger

Freight (ton)

Gross

Net

10,671,980

55,982,364

19,616,924

60,610,288

Earnings.
$1,782,453
1,742,251

Earnings.
$673,506

Mileage.

Mileage.

7 g.
7 g.

310,000

2,212,000
2,212,000
500,000

When

Where

Pay’ble

'

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

mmmm

A. & O.
A. & O.

's'
7
8 "
8
6
6
6
8

5,454,680

8
8
3 g-

787,000
1,500,000
713,000

6
6 g.
6 g*

1,022,900

3*fi
6
7
4
3
5
6
6

336,900
100,000

14,792,566
5,000,000
1,650,000
1,710,000
2,882,956

Dividend.

Boston.

1907

do
do
do

....

July 1, 1907
1908

A. & 0.
New York, Office.
J.
J.
do
J. & J. Atlanta, Ga., atTreas’y.

April 1,1897“
Jan. 1,1907

„

....

o

7 g.

Stocks—Last

Whom.

....

7 g.
7
7
4

pal, When Due.

Payable, and by

••m:

•

m

m

Jan. 1.

188d;

m

A. & 0. N.

Y., First Nat. Bank.

J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
M.
M.
A.
M.
J.
J.
J.
M.
J.
M.
A.
M.

Y., Perkins, L. & P. Jan. 1, 1887

&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
<fc
&
&

J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
S.
N.
0.

N.

do
do
do
do
do
do
do

do
do
do
do
do
do
do

Oct.

1, 1.901

Jan.

Lynchburg Office. •
N. Y., Perkins, L. & P.
London, Gr. Trunk Rw.
Portland.

London, Gr. Trunk Rw.

N.
do
do
D.
Savannah.
J. Pliila., Farm. & M. Bank
do
J.
do
N.
Baltimore Office.
J. Balt., Merchants’ Bank.
N.
Baltimore Office.
O.
Baltimore Office.
8.
London.

1, 1887
July 1, 1893
Jan. 1, ’84-’90
Jan. 1, ’84-’90>
Jan. 1, ’86-’90*
July 1, 1884
Men. 1, 1900
Jan. 1, 1875
July 1, 1880
Mar. 15, 1880
May 2, 1886
Oct. 1,1884
Oct. 1, 1891
Dec;, 1879
July 1, 1881
July 1, 1884
Nov. 1, 1870’
July 1, 1870
Nov. 1, 1870
1885
1895

*

Passenger

Years.

Miles.
428
428

Freight (ton)

Mileage.
9,531,442

Mileage.

Gross

Earnings.

Net
Earnings.

67,531,874 $1,791,579 $600,633
9,470,228
70,797,576
486,8891,781,710
1873-9
428
8,079,780
73,662,480
1.673,131
612,043
—(V. 28, p. 97, 199, 223, 476, 624; V. 29, p. 356; V. 30, p. 66.)
Atlantic <£ 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 o, 1853, at a rental equal to 6 per cent on stock
and bond interest.
Capital, $5,500,000, and bonds, $2,984,000. Total
investment, $8,484,000, or $56,560 per mile. In 1879, £100,000 bonds
discharged in stock. Earnings, &c., for four years:
Gross

1875
1876

Earnings...

983,449
891,375
921,959

1877....
1878
*

Net

Earnings.
$1,071,988

Years.

'
-

*$32,279*242,601
*234,675
92,584

Loss.

-(V. 27, P- 147.)

Augusta tfi Savannah.—Milieu to Augusta, 53 miles.
Chartered as.
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 3Js per,
cent are paid June and December each year. Has a considerable surplus
Burke

fund.,

consolidation, November 12,
1870, of Norfolk tfc 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 bearing
before Juty 1, 1880. Default on consolidated bonds was made 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
was

1876-

Rate per
Cent.

$120,000

100
100 &0.

30

Loan, 1853
do
1870,sterling, £800,000, sink, fund

Amount

Outstanding

1871
1871
500 &c.
1857
500 &c.
1857
1868
1,000
1866
1,000
200 «fec.
1866
1866
200 &c.
1854
1,000
1865
1,000
Var’us Various
1869
100 &c.
£100
1868
1,000
£100
1864
£100
1871
1861
1864

Bonds—PrincJ*

INTEREST OR DIVIDENDS.

Miles

Atchison Topeka <6 Santa Ft— ( Continued)—
Pleasant Hill & De Soto (leased), 1st M., gold
Florence El Dorado & W. (leased), 1st mort., gold
New Mexico & So. Pacific—Stock
do

[Vol. XXX.

great favor by giving Immediate notice of any error discovered in tbese Tables.

DESCRIPTION.

do

BONDS

AND

540,539

Bald Eagle Valley.—Vail Station, Pa., to Lockhaven, Pa., 51 miles, with
branch to Rellefohte, Smiles; total, 54 miles.
Opened December 7,.

1864, and leased to

Pennsylvania Railroad Company for 99

branch is the joint property of the lessors
cent of gross earnings; in 1878, $55,403.

years. The
and lessees. Rental, 40 per
Interest, $25,000, and divi¬

dends (January and July, each 2*2 per cent), $27,500). Stock, $550,000;
bonded debt—$300,000 at 6 per cent, and due July, 1881; and $100,000
at 7 per

cent, and due July, 1884.

A general mortgage, dated January

1, 1880 (30-year and 6 per cent), has been provided for the replacement

of the present two
the Pennsylvania
was

paid

on

series of bonds.

The 2d mortgage bonds are held by
In August, 1879, 2*2 per cent

Railroad Company.
stock. (V. 27, p. 486.)

Baltimore &

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
is given in the Chronicle, Vol. 29, p. 535, and the follow¬
ing extracts are quoted therefrom. The subjoined exhibits show the re¬
duction of the indebtedness stated during the fiscal year:
REPORT OF OCTOBER 1, 1878.
annual report

Sterling debentures due in 1880 and 1881

$2,420,000
2,563,302
2,554,959

i

Bills payable

Sterling obligations and loans
Total

$7,538,261

1, 1879.
Sterling debentures due in 1880 and 1881
$2,420,000
REPORT OF OCTOBER

Bills

payable (for the payment of which the

is on hand)
Sterling obligations and loans
money

•

539,000

620,507

Total

Showing
Add

3,579,507
a

reduction during the

payments

on

year

of

account of the principal of debt and of the

sinking funds during the fiscal

$3,958,753

648,584

year

Aggregate reduction

$4,607,338

Semi-annual dividends of 4 per cent upon the capital stock were made^
in stock on the 15th of November, 1878, and on the 15th of May, 1879.
These dividends amounted to an increase of the capital
stock of
,
$1,114,836
And the issue of the remainder of the preferred stock, second

series, amounted to....

400,421

Making

$1,515,257
$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
increase for the past year of $1,092,738. It will be seen by this account.
—whilst the reduction of the indebtedness

was

STOCKS

RAILROAD

March, 1880.]

AND

BONDS.

Subscribers will confer a great favor by giving immediate notice of any error discovered In these Tables.
DESCRIPTION.
For explanation of column headings,
on first page of tables.

&c., see notes

Baltimore & Ohio— (Continued)—
Baltimore loan, 1855-90, sink, fund
Debentures, sterling
Sterling mortgage, sinking fund
Sterling mortgage, sinking fund
Purchase of Connellsv. RR (payable $40,000 y’ly)
Loan., ster., (s. f. £7,500) lien on Chic, line bonds

1188772--35496.

....

1855
1874-5

411
421

1872
1874
1875
1877
1879
1855
1878
1871

....

263

104

Bonds on Parkersburg Branch
Northwestern Virginia, 3d mortgage, 1855-85 ...
Bonds to State of Maryland
Baltimore & Potomac—1st M (tunnel) gold, s. f. 1 p. c.
1st mort., gold, tax free, coup., s. f. 1 per cent—
2d mortgage, income, main liue and tunnel, reg..
Belleville & South. III.—1st M., sink’gfund, guar
Belvidere Del.—1st mort. due 1877, extended, guar:
2d mortgage bonds of 1854 (guar, by C. & A.)
3d mortgage bonds of 1857 (
do
do
)
Consol, mortgageof 1876
'

....

Bonds

....

Equipment notes
N. Bedford Railroad bonds ($400,000 are 7s)
Boston Concord & Montreal—Preferred stock
Com. stock (for old dividends & new stock)
Sinking fund bonds
Consolidated mortgage bonds (for $2,000,000)....

1,000

1,000
100 &c.

....

....

1854
’69-’70
1876
....

1,000

’61-’74 500 &c.

166

.

.

.

....

1858
1873

160

100
100
100 &c.

100&C.

surplus fund, which represents invested capital derived from
earnings, and which is not represented by either stock or bonds, now
amounts to $38,204,657.
*
It is shown by the report of the transportation department that the
tonnage of through merchandise east and west has been 1,425,629 tons,
whilst in the preceding year it was 1,149,499 tons. For 1877 this traffic
was 1,04.7,645 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;
and for 1871, 435,207 tons. 743,381 barrels of flour and 29,622,895
bushels of grain were brought to Baltimore during the fiscal year, being
a decrease of 34,830 barrels and an increase of
8,983,241 bushels,
respectively. Of this aggregate of grain, 18,467,498 bushels were
wheat/ The receipts of wheat for the preceding year by the Baltimore
& Ohio Railroad were 9,365,233 bushels, showing an increase of
9,102.265 bushels, and an increase over 1877 of 15,966,898 bushels.
For 1877 the receipts of wheat were 2,500,600 bushels, and for 1876,
620,300 bushels. The receipts of corn for 1875 by the Baltimore &
Ohio Railroad were 5,591,633 bushels; for 1876,15,948,107 bushels;
for 1877,13,290,714 bushels; for 1878, 10,164,285 bushels'; and for
1S79. 10,065,530 bushels, showing a decrease of 98,755 bushels com¬
pared with the preceding year. The passenger earnings exhibit a
decrease from $1,200,846 in the preceding year to $1,171,033. Large
reductions were made in the tariffs for local travel in Maryland and
West Virginia on February 15, 1879. The coal trade of the Main Stem
shows an aggregate of 1,596,004 tons, which includes 382,792 tons for
the company’s supply, being an increase of 112,928 tons over the pre¬
ceding year. Results of operating “ main stem and branches ” for seven
net

Earnings.
$12,252,844
11,693,955

Gross

10,514,179
9,632,361

8,262,045 '
8,563,956

8,864,826

Operating Expenses. Net Earnings.
$7,318,048=59 72 p. c.
$4,934,796
5,018,060
6,675,895=57-80 “
6,178,801=58*74 “
4,337,378
4,220,726
5,411,635=5618 “
4,605,151=55-73 “
3,656,893
4,524,344=5283 “
4,039,611
4,523,581=51-02 “
4,341,245

Dividends for 5 years, 1872-77, 10 per cent; for 1877-78, 7% per cent;
and for 1878-79, 8 per cent. The three dividends from May, 1878, to

May, 1879, inclusive, were paid in stock.

Results of operating all lines

owned and controlled for the seven years 1872-79:
Years.
Gross Earnings.
Operating Expenses.
$15,693,198
$10,141,623=64-62 p. c.

14,947,090
14,444,239
15,031,236
13,208,860
13,765,279
14,193,980

9,461,651=63 30 “
9,908,665=68-59 “
9,609,857=6394 “
8,226,055=62-28 “
7,769,301=56 44 “
7,691,595=54-18 “

Net Earnings.
$5,551,575
5,485,439
4,535,574
5,421,379
4,982,805
5,995,978
6,502,385

The Baltimore & Ohio direct bonds of 1879 on Parkersburg Branch are
secured by deposit of mortgage on that road.
(V. 28, p. 223, 276, 378;
V. 29,--p. 145, 225, 250, 328, 510, 535.)

Baltimore <£• Potomac.—Baltimore, Md., to Washington,
and from Bowie to Pope’s Creek, 49; total, 90 miles.

D. C., 41 miles,
Chartered in

1853; road opened to Washington in 1872 and to Pope’s Creek in 1873.

opened in summer of 1873. The road is'controlled by
Railroad Co., and first mortgage bonds guaranteed by
Pennsylvania Railroad & Northern Central Railroad Companies; second
mortgage bonds are dependent on earnings. Capital stock, $3,553,250,
funded debt, $6,500,000, and other liabilities and accounts, $288,365?
total, Dee. 31, 1878, $10,341,615.
Road equipment ($100,884 per
mile), $9,099,798. Gross earnings in 1879, $699,772; expenses, $526,201; profits, $173,570. Interest (including gold premium), $272,317.
Deficiency, or guarantors’ loss, $98,746. Income bonds wholly held by
Pennsylvania Railroad Company. (V. 28, p. 598.)
Belleville (6 Southern Illinois.—Belleville, Ill., to Duquoin, Ill., 56
miles. Chartered February 15, 1857; opened December 15,1873, and
leased, during construction, October 1,1866, to St. Louis Alton & Teri;e
Haute Railroad Co. Lease rental 40 per cent of gross earnings up to
$7,000 per mile; 30 per cent above $7,000 and up to $14,000 per mile,
Baltimore Tunnel
the Pennsylvania

and 20 per

cent on any excess of $14,000 per mile.

Rental for 1878,

Bonds guaranteed by lessees. Common stock, $430,000; pre¬
ferred 8 per cent stock, $1,250,000, and first mortgage 6 per cent sinking
fund bonds, $1,070,000; total ($48,759 per mile), $2,750,000. Operated

$98,351.

in connection with the Belleville Branch of St. Louis Alton & Terre
Haute Railroad, and extended from Duquoin to El Dorado, 50 miles, by
the Belleville & El Dorado Railroad Company; extension opened October
31,1879.
:
V
Belvidcre Delaware.—Trenton, N. J., to Manunka Chunk, N. J., 69
miles. Chartered March 2, 1853, and opened Nov. 3, 1865. Leased to
United Companies, and transferred to Pennsylvania Railroad Company
March 7,1876, by whom operated as their Belvidere Division. Rental, all

surplus earnings, but

second and third bonds guaranteed.

Gross earn¬

1874-659.

1874-956

1\

400,000
799,600
528,000
870,000
571,500
800,000
1,000,000
202,000

....

g.

g-

4
7
6
5
2
6
7
7
6

3,047,700

....

1,000
1,000

g.
g.
g.
g.

7
7

475,000
600,000
20,129,282
5,000,000
2,000,000
400,000

100
100

that the

years:
Years.

1,200,000

1,000

1875

....

....

3,000,000
140,000
366,370
1,500,000
3,000,000
1,133,000
1,100,000
1,000,000
499,500
745,000

1,000

....

Mortgage bonds 1869-70

7,744,000

$1,000

1871-2

38%
151
29
43

....

500
500

....

6
6
6
6
6
5
6
6
6
6
6
6
8
6
6
6

1,200,000
8,507,352
9,107,547
800,000

£200

1876
1877

84
59
21
321

Berkshire—Stock

$2,833,520

1854
1857

....

Rate per
Cent.

Outstanding

£200
£100
£200

1875
1866
1877

56
64
67

Amount

1,000
1,000
1,000
1,000
1,000

1871

98
98

Bennington <£• Rutland—1st mortgage
Boston & Albany—Stock
Dollar loan
Loan of 1875, coupon or registered
Boston Barre <6 Gardner.—1st mortgage
Bosl. Clin.<£ Fitehb.<£ X.B.—Stock ($1,750,000 pref.)
1st mortgage, Agricultural Branch

INTEREST OR DIVIDENDS.

Date
Miles
Size, or
of
of
Par
Road. Bonds Value.

6 & 7
3

"6
6 & 7

1,721,000

When

Payable
J.
J.
M.
M.
J.
J.
A.
J.
J.
J.
A.
J.
A.
J.
M.

&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
F. &
J. &
M. &
&
&
&
&

&
&
&
&
&
&

Whom.

pal,When Due.
Stocks—Last
Dividend.

Boston, Kidder, P. & C# April 1,1880

N.
Boston, Office.
A.
do
do
%
J.
O. Worcester, City Nat. Bk.

....

J.
J.
J.
A.
J.
M.

Payable, and by

J.
1890
Baltimore, Office.
J. London, Naylor & Co. Jan. 1,’80&’81
S.
London.
Mch. 1, 1902
N. London, Speyer Bros.
1910
J.
Baltimore.
1879-1900
D. Lon.. J. S. Morgan & Co. June 1, 1927
O. Balt.A N.Y., D.,M.& Co. April 1,1919
J. Balt., Meek’s Nat. Bank
1885
J.
Baltimore.
July 1, 1888
J
Baltimore or London.
July 1, 1911
do
0.
do
April 1, 1911
,T.
Jan. 1, 1915
Baltimore.
N. Y., Russell Sage.
O.
Oot. 1, 1896
D.
1902
Philadelphia. »
do
S.
1885
do
A.
1887
J. Treasurer, Trenton, N. J. Jan. 1, 1916
N.
N.Y., Union Trust Coj Nov. 1, 1907

Q.-J.

M.
F.
J.
A.

Where

Ronda—Princi¬

15,1879
1, 1892
July 1, 1895
April 1, 1893
Oct. 15,1879
Boston, Office.
Boston, Boston N. Bank July 1, 1884

J.
J.
do
D.
do
O.
do
J. Boston, Suffolk
N.

J. & J.
A. & O.

Nov.
Feb.

do
do
do

1889 & '901
June 1, 1896

’81,’82/83,’85
N. Bank July, ’81 & ’94
Nov. 29, 1879
Boston, Office.
BostoD, Office.
do

_do

1889
1893
*

Bennington & Rutland.—Rutland to Bennington, Vt., 54 miles, and

branch to New York line, 5 miles; total, 59 miles. Chartered as Western
Vermont in 1845, and completed in 1854. Leased in 1857 to Troy &
Boston for 10 years at $36,000 per annum. Consolidated in Harlem
extension in 1870, and leased to Central Vermont in 1873. Lease aban¬
doned by lessees (themselves in a chronic state of bankruptcy) in 1877.
Since September 10,1877, the Vermont division (as above) operated by
the roorganized Bennington & Rutland. Stock $1,000,000 (par $100),
and bonds $500,000; total, representing cost of road ($25,425 per mile),
$1,500,000. Interest liability, $35,000 a year.

Berkshire.—Connecticut State Line to West Stockbridge, Mass., 22
Chartered in 1837, and road opened in ^42. Leased in per¬
petuity to Housatonic Railroad Company at 7 per cent on capital stock
miles.

and cost of road ($27,273 per mile), $600,000. Lessors pay taxes, &c.,
which reduced the dividends to 6 per cent or a fraction below that rate.
Used as the Housatonic’s main line in Massachusetts.
Boston &

Albany.—Boston, Mass., to Albany, N. Y., 202 miles, and

branches, 48 miles, or a total of 250 miles; leased lines, 72
miles, or a total operative length of 322 miles. Formed (December,
1867) by the consolidation of the Boston & Worcester and the Western
railroads. Main line (all steel) double track. The most important trunk
line in New England. An abstract of the last annual report _was pub¬
lished in the Chronicle, V. 29, p. 488. Results of operations for five
numerous

years:
Years.

*

Net

Miles.
318
322
322
322
322

Passenger Freight (ton)
Gross
Net
Div.
Receipts.
Mileage.
Mileage.
Receipts.* p. ot.
119,720,916 282,309,789 $7,869,954 $2,498,051 10
110,644,410 301,624,988
2,391,764
7,074,758
9
103,278,126 313,822,671
6,780,597
2,467,831
8
101,221,955 329,708,573
6,633,534
2,219,536
8
101,248,321 325,484,799
6,427,463
2,703,638
8

receipts include income from rents, &c.

Stock increased from $19,664,100 to $20,000,000 in the seven years, and
bonds from $3,037,000 to $7,000,000. Cost of road, &c., October 1,

1872, $24,301,752, and September 30, 1879, $27,514,116.
In the
meantime, upwards of $1,300,000 have been taken from surplus fund
and applied to depreciation account.
(V. 29, p. 328, 488.)
Boston Barrc & Gardner.—Worcester to Winchendon, Mass., 37 miles,
and lessees of Monadnock Railroad, Winchendon, Mass., to Peterboro’,
N. H., 16 miles; total operative length,-53 miles. Chartered in 1847,
and road completed in 1874. Leased Monadnock Railroad for 99 years
from October 1,1874.
Interest has been reduced to 5 per cent. Interest
liability at 7 per cent, $38,801, or at 5 per cent, $27,715. (V. 29, p. 40,406.)
Boston Clinton Fitchburg & New Bedford.—Fitchburg, Mass., to New
Bedford, Mass., 91 miles, with eight branches (34 miles), in all 125
miles.

Total

operated road (including the Framingham & Lowell Rail¬

road, 26 miles, leased), 151 miles.
Consolidation (June 1, 1876) of
the B. C. & F. and the N. B. railroads, both of which had been consol¬

idations of other original lines. The Framingham & Lowell is leased for
998 years and 4 months from Oct., 1879. The whole property was leased

(Feb. 1,1879) to the Old Colony Railroad Company for 9 )9 years, the
1023 per cent of the gi o js earnings of

lessees agreeing to pay as rental
all the roads operated by them.

As a relief to the company from its
hepvy obligations, the old 8 per cent equipment notes were converted
(Rib. 14,1878) into a preferred stock, and its 8 per cent bonds into 6
per cent bonds. Gross earnings in 1877-78, $970,548, and net earnings,
$286,632. Payments and rentals, $28,277; interest on funded debt, *
$175,029; interest on unfunded debt, $94,214. Total, $297,519. Deficit,
$10,887. (V. 27, p. 537; V. 28, p. 40, 120; V. 30, p. 221.)
Boston Concwd & Montreal—Concord, N. H., to Wells River, Vt., 94
miles, and branches 73; total, 167 miles. Chartered in 1844 and road

opened in 1853. Purchased White Mountain Railroad (53 miles) in
1872, and built the Mt. Washington Branch (20 miles) in 1874. An

extension of the White Mountain Railroad from Groveton Junction to
Colebrook and into Canada is mortgaged. Fiscal year ends March 31.
Gross
Expenses,
Available
Years.
Miles.
Revenue.
Earnings.
Taxes, &c.
160
$564,194
$523,986
$140,208

160
167
167

167

693,355

649,308
654,272
590,550

511,343
457,377
453,172
388,932

182,012

181,931
201,100
201,618

stock ($800,000) has always received 3 per cent
semi-annually, amounting to $48,000 a year. Neither the new preferred
nor the common stock has been paid dividends.
A proposal has been
The

old preferred

made to scale down the two latter stocks and make them equal to the
old preferred.
Stock account, $1,800,000; funded debt, $2,527,200;
dividends and interest payable, $12,907, and income balance, $582,485;

ings 1878 ($9,284 per mile), $639,034; operating expenses (76-09 per total, $4,922,592. Per contra: Construction—Main line, $2,850,000,
cent), $486,279; and net earnings ($2,219 per mile), $152,755. Capital and branches, $1,469,000; sinking fund, $201,500; other assets, $179,stock, $994,050; funded debt, $3,444,500, and floating debt, $157,524; 405; and cash and accounts, $222,687. Total property and assets,
total, $4,596,074. Cost of road and equipment ($61,700 per mile),
350,000 due in 1875. (Y. 28, p. 577.)
$4,246,638. Operates Flemington Railroad,




f4,922,592. There are also $76,000 old bonds due in 1865, and

18

RAILROAD
Subscribers will confer

a

Miles
Date
Size, or
of
of
Par
Road. Bonds Value.

first page of tables.

Boston Hoosac Tunnel dt Western—Stock
Boston dt Lowell—Stock
Bonds
Bonds
Bonds
Bonds
Boston dt Maine—Stock
Bonds, coupon and registered
Boston dt New York Air-Liner—1st mortgage
Boston dt Providence^-Stock
Bonds to purchase branches, coupon or registered
Ten year notes for $800,000

26
^

^

1872
1875
1876
1879

^

m

1874-965

„

.

.

m

66

m

m

—

m

.

^ ^

$800,000

New

mortgage
Buffalo N. I. dt Philadelphia— 1st mort., gold
2d mortgage (redeemable after 1883)
Buffalo dt Southwestern—Bonds
Burlington O. Rapids dt Northern—Stock, guar
1st mortgage
Iowa City & Western, 1st mortgage, gold, guar..
Burlington dt Missouri in Nebraska—Stock..
Bonds, convertible till Jan., 1882
Consol.mort.for $14,000,000, s. f. $30,000
Omaha & S. W., 1st mortgage, guar
Republican Valley Railroad, stock, guar
Nebraska RR., consol, mort., guar
Burl, dt Southwest.—1st mort., cp., may be reg
Cairo dt St. Louis— 1st mortgage
Cairo dt Vincennes—1st mortgage, gold

m

m

m

„..,

ioo

1,000

500 &c.

,

ioo

367

1876
1879

57

m

.

.

133

181
144
156

1,000

1873
1878

100
500 &c.
600 &c.

1872

191
49
m

100 &c.

Net

Earnings.

1,000

1877
1870
1871
1871

/

1,000

1,000

Payments

,

,

1845 and to Portland in 1873. From 1843 to 1873 the Portland Saco &
Portsmouth Railroad was leased in partnership with the Eastern Rail¬
road.
In February, 1880, there was talk of
consolidating with the
Eastern (Mass.) Railroad.

—(V. 29, p.

$2,262,647
2,278,457
2,173,202
2,100,741
2,149,857
535 ; V. 30,

Expenses
Outside Av’il’ble Div.
Net
& Taxes. Earnings. Receipts. Revenue, p.c.
$1,594,987 $667,660 $126,093 $793,753
8
1,523,966
754,162
92,162
844,653
3
1,578,854
654,348
93,817
748,165
5
1,359,367
741,317
83,717
825,091
6
1,354,755
795,102
88,964
884,066
6
p. 15.)

Boston dt New York Air Line.—New Haven to
Willimantic, Ct., 50
miles. Lessees of Colchester Railroad, 4 miles. Total operated, 54 miles.
Chartered as New York & Boston in 1846, as New Haven Middletown &
Willimantic in 1867, and under existing title in 1875. Road

opened
The present company derive their rjglits from pur¬
chase under foreclosure. The Colchester branch was opened August 1,
1877, and rents for $7,800. Leased main and branch from October 1,
1879, to the New York New Haven & Hartford Railroad Company, the
lessees to pay as rental therefor 6 per cent of the gross
earnings of
all lines operated. Lease ratified January 14,1880.
Common stock,
$671,700; preferred stock, $2,246,500, originally bonds of New Haven
Middletown & Willimantic Railroad Company. (V. 28, p. 173,
352, 428,
577; V. 29, p. 621; V. 30, p. 66.)
August 13, 1873.

Boston dt 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 & Providence and the Boston &
Albany, so as to

6 g.
7
....

1,034.000
853,000
1,836,000
1,800,000
2,500,000
3,500,000

1,000

Rentals.
Div.,p.c.
$1,209,573
$209,488
$88,467
1,169,114
357,084
111,767
1,181,724
391,962
93,309
1,081,066
319,528
94,718
2
1,198,962
392,580
3
67,598
Dividends were 8 per cent up to close of 1873; 6^ per cent in 1873-74.
—(V. 28, p. 624; V. 30, p. 42.)
Boston dt Maine—Boston, Mass., to Portland, Me., 115, and branch
lines, 11; total owned, 126 miles; lines operated imder 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 in

Earnings.

[Vol. XXX.

When

7
6 g.
7
6

Bonds—Princi¬

7 g.

pal,^When Due.

Payable, and by
Whom.

J.

& J.
A. & O.
M. & S.
J. & J.

Boston, at Office.
do
do
do

March

1,1895
July 1, 1896

1899
Nov. 15, 1879

•

M. & N.
J. & J.

Boston, at Office.

F. & A.
M. & N.
J. & J.

Boston, at Office.

do
do
New York.

do

Stocks—Last
Dividend.

Jan. 1, 1880
April 1, 1892

do
do
do

‘

Jan., 1893&94

Aug. 1, 1895
Nov. 1, 1879
July 1, 1893

do

1887

....

M. & S.
J. & J.
.*

New York.
New

York, Erie Office.

Sept. 1, 1917

Jan.

1, 1896

....

J. &
J. &
J. &
J. &

D.

N.

D.

J. N.
J.

Y., Erie Railway.
do

do

Dec. 1, 1879
June 1, 1916

Y., Farm. L. & T. Co. July 1, 1896
do

do

....

lifl
5
7 g.
2
8
6
8
2
7
8
7

Where

Payable

....

7,605,000

.

1878, they have been under separate managements.

Years.

500,000
500,000
(?)
580,000
500,000
950,000
2,380,000
3,000,000
700,000
1,099,706
5,500,000
6,500,000
456,000
9,390,800
600,000

....

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 & Lowell and the Nashua & Lowell, but from December,
Gross

4,000,000

1,000
1,000

Boston Hoosac Tunnel dt Western.—Projected line: Hoosac Tunnel,
Mass., to Fairhaven, N. Y., 200 miles. In operation from Mechanicville,
N. Y. (Rensselaer & Saratoga Railroad), to North Adams, Mass. (Troy <fc
Greenfield), about 46 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. (V. 30, p. 191.)
Boston dt 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,

Earnings.

500^000

m

1876
1871
1878

7
7
6
5
3
7
7
3
7

6,921,274
3,500,000

1873-4 500 &C.
1875
1,000
100
1873
m

i

999,500
500,000
750,000
620,000

m

ioo

1879

26
44
142
14Q
121
121
67

m

Rate per
Cent.

3,250,000

....

204
52

Outstanding

500

15761887744--7956956.. 81
m

Brooklyn Elevated— 1st mort., gold (for $3,500,000)
Buff.Brad.dt Pitts.—Gen. M.,(inch 10,000 ac. I’d)
Buffalo Ghatauqua Lake dt Pittsburg—Stock
Buffalo New York dt Erie—Stock

Gross

BONDS

INTEREST OR DIVIDENDS.

Amount

$....

82

.

Years.

AND

great favor by giving immediate notice of any error discovered in tbese Tables.

DESCRIPTION.
on

STOCKS

....

J. & D.
M. & S.

New York.

June 1. 1906

do

Q.-F.

Sept. 1, 1909
2, 1880

Boston, Office.

J. & J.
J. & J.
J. & D.

Feb.
Jan.

do
do
do
do
Boston.

Q.-F.

A. & O.

1, 1883

July 1, 1918
June
Feb.

M. & N.
Boston, Co’s Office.
A. & O.
/
A. & O. New York and London.

1, 1896
2, 1880
Oct. 1, 1896
May 1, 1895
Oct. 2, 1901
Oct., 1909

solidation with the Pittsburg Titusville & Buffalo has been adopted.
—(V. 30, p. 17, 67, 193.)
Buffalo New York dt 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 & Erie for 490 years, and now operated
by the
New York Lake Erie & Western Company. Rental, $240,100—viz., 6
per cent on stock and bonds and $8,000 for organization expense. Divi¬
dends and interest paid directly by the lessees. Capital stock, $950,000,
and fimded debt, $2,380,000. Total, representing cost of road, $3,330,000.
Buffalo Ncio York dt Philadelphia.—Buffalo, N. Y., to Emporium, N.
Y., 121 miles. Consolidation (1871) of the Buffalo & Allegheny Valley
and the Buffalo & Washington, and road completed in 1872. At Em¬
porium connects with Philadelphia & 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. 23, p. 252; V. 30, p. 16.)
Buffalo dt Southwestern.—Buffalo, N. Y., to Jamestown, N. Y., 67 milesr
Organized as Buffalo & Jamestown in 1872, and road completed in 1875.
Sold under foreclosure in 1877, and reorganized under
existing title.
Gross earnings in 1877-78, $221,650; operating expenses, $171,652 ; net
earnings, $49,998. Capital stock, $943,800. Cost of road and equip¬
ment, $2,857,472.
••
Burlington Cedar Rapids dt Northern.—Burlington, Iowa, to Albert
Lea, Minn, (including 11 miles leased), 252 miles, and branches 183, or
a total of 435 miles.
Steel rail, 113 miles. Organized as the Burlington
Cedar Rapids & 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

Serty was transferredperpetual lease, Rocklessees agreeing to RailIsland & Pacific pay
Company, under a to the Chicago the

interest

bonds and dividends on stock, at the rate of 3 per cent
years, and of 5 per cent yearly thereafter; this lease
ratified by the stockholders in February, 1880.
Grose

on

yearly for five
was

not

earnings (year ending June 30,1879), $1,387,962, and net earnings,

$437,304.

Interest liability, $335,513, all paid. Disbursements also
Chicago Clinton & 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 & West¬
ern Railway.
(V. 29, p. 224, 250, 432, 562; V. 30, p. 17, 221.)
Burlington dt Missouri River in Nebraska.—Plattsmouth to Kearney
Junction (owned), 191 miles; leased: Omaha & Southwestern
Railroad,
47; Nebraska Railway, 163, and Republican Valley Railroad, 69; total
leased lines, 279 miles; total operative lines, 470 miles;
average length
operated iu 1879, 442 miles.
include the purchase of the

Aver.
Miles.

Years.

240
240
354
376
442

Gross

Net

Earnings.

Div.

on

Earnings, stock.

$723,843
$300,057
903,618
476,222
1,366,435
754,241
1878
1,909,518
1,172,484
4
2,160,926
1,335,055
4
And there was an extra dividend of 2ia per cent declared
Dec, 24,1879
The Land Department makes the following statement Dec. 31,1879 :
South Platte lands
1,689 sales, of 177,< 95 acres, for $1,266,458
North Platte lands
696 sales, of 192,336 acres, for
321,053
•

Total

2,385
'
369,431
$1,587,511
of total sales, $4 30.
Lands on hand—South Platte, 283,532 acres; North Platte, 508,499;
due from United States, 8,337. The company is to be consolidated with
utilize them by both companies.
'
the Chicago Burlington & Quincy, share for share and 20
per cent st ock
Gross
Net Traffic
Other
Divi- dividend. The
consolidated 6 per cent bonds are issued in place of 8 per¬
Years.
Earnings.
dends. cents due in 1894. The
Earnings.
Receipts.
Omaha & Southwestern road is leased. (V. 28,
$1,555,028
9
$430,225
$26,230
p. 120, 276, 624; V. 30, p. 90, 116.)
1,439,864
399,633
8
27,895
1,352,564
Burlington dt Southwestern.—Viele, Iowa, to Laclede, Mo., 142 miles ;
378,032
6
20,797
total operated length, Burlington, Iowa, to Moulton, Mo., 181
1,185,040
348,069
6
21,377
miles, of
which 39 miles are leased on joint-use •contracts. Gross
1,158,643
375,947
19,595
6L?
earnings,
Lease rental paid in the years consecutively was
$9,219, $9,219, $11,308, 1878-79, $206,704; expenses and taxes, $199,187; net earnings,
$10,956 and $10,917. (V. 27, p. 565.)
$7,517. Capital stock, $1,793,700; fimded debt, $3,488,000; reeeiver’sBrooklyn Elevated.—In progress. Capital stock authorized, $5,000,- 7 per cent certificates (for extension 22 miles in Missouri), $200,000,.
000, and 6 per cent gold bonds, $3,500,000, Amounts issued not stated. and a large amount of floating debt. , Default made November 1, 1873,.
and property still in hands of receiver, awaiting final decree
of fore¬
—(V. 29, p. 328.)
closure. (V. 29, p. 300J
Buffalo Bradford dt Pittsburg.—Carrollton, N. Y, to Gilesville, Pa., 26
Cairo dt St. Louis.—Cairo, Ill., to East Carondelet, Ill. (3 ft. gauge), 147
miles. Completed in 1866, and leased to New York Lake Erie & Western
for 499 years. In January, 1875, it was consolidated with other roads miles. Opened through, March 1,1875. Default made April 1,1874,
and receiver appointed Dec. 6,1877. Deficit in
under the title of
1878, $9,914. Capital
Pennsylvania & Erie Coal & Railway Company. No stock. $4,565,000.
further action, however, has been taken to
Large amounts of county and town subscriptions
carry out the project. Rental, remain
unpaid and in suit. (V. 28, p. 451; V. 29, p. 17, 40.)
7 per cent on outstanding bonds, $40,600 a year.
Capital stock, $2,286,Cairo dt Vincennes.—Cairo, HI., to Vincennes, Ind., 157 miles. Char¬
000, and funded debt, $580,000; total, representing cost of property,
tered March 6, 1867, and completed Dec. 16,1872. Defaulted in 1873.
$2,866,000.
Placed in hands of two receivers May 16,1874. Sold Jan.
5,1880, and
Buffalo Chatauqua Lake dt Pittsburg.—Line of road, Brocton, N. Y., to bought in for account of bondholders for
Cony, Pa., 44 miles. Organized as the Buffalo & Oil Creek Cross-Cut, ers’ certificates and claims for labor, &c. $2,000,000, subject to receiv¬
The capital stock was $2,624,and changed to Buffalo Corry
& Pittsburg October 15,1867. Sold in 300." The reorganization is altogether in the hands of Messrs. Drexel,
foreclosure January 1, 1873, and
reorganized imder present name. Morgan & Co., and no plan of settlement has been announced. (V. 29,
Gross earnings, 1878, $117,210; net earnings, $26,099. A




plan of

con¬

p.

•Average

per acre

40; V, 30, p. 43.)

‘

March,

Subscribers will confer a

great favor by giving

first page

of tables.

notes

gold
2d mortgage, endorsed by Central Pacific
3d mort., guar, by C. P. ($1,000,000 are 3 p. c.) .
Camden dc Atlantic—Stock ($838,150 of it pref.)—

■California Pacific—1st mortgage,

1st mortgage

(extended 20 years in 1873)

Camden <6 Burlington

Co.—1st mortgage

Canada Southern—Stock
New mort., interest guar., (for $14,000,000)
Carolina Central— 1st mortgage, gold, coupon
Income bonds, coupon

Catawissa—Common stock

Chattel mortgage bonds
New mortgage
Cayuga Southern—Stock
Cayuga & S2isqjiehanna^S>tocK

/

Oa.—Stock
bds ($5,000,000) coup.

Macon A Western bonds
Central of Iowa—1st M., gold,

1872

1,000

I

.

.

.

1861
1863
1866
....**

1872
1870
1869
1880

190
•

....

1869

1872-35469.;

.

.

.

A
A
A
A
A

A
A
A
A
J. A
J. A
A. A
J. A

F.
F.
F.
M.

7
7
7

2^
7
7
7 g.
7

1, 1879

Not. 1, 1879
Feb. 1, 1882
1888 to ’89
Feb. 1, 1900

do
do

Philadelphia.
do

st.

Jan.

1, 1880

Co April 30,1884
Jan.

2, 1907
1880
1, 1880

Feb; 1,

Boston, Treasurer.

Feb.
do
do
A.
A. N. Y., Nat’l Park Bank. Aug. 1, 1891
do
do
Aug. 1, 1894
A.
do
do
May, 1910
N.
Dec. 20, 1879
Savannah, Ga.
D.
J. New York A Savannah. Jan. 1, 1893
Oct., 1880
Macon, Ga.
O.
New York, Office.
July 15,1899
J.

'

do
New York,
do

Q.—J.

2^2
7

April 1, 1914
Nov.

Philadelphia.

N.
N.
A.
A.
A.

Q—F.

3*2

17,540,000
5,000,000

.

J. A J. New York, 44 South
A. A 0. N.Y.,J. 8. Kennedy A
do
do
J. A J.

7
7
1

620,000

.

M.
M.
F.
F.
F.

4*2
-

.

■

.

7

3,700,000

1,000

Jan. 1, 1908
July 1, 1923

7

117,000

ioo

July, 1905

A J. N. Y., Union Trust Co.
A J. N. Y. Office, 4 Broad st.
do
do
A. A O.

....

7,500,000
3,500,000

500 Ac.

Jan. 1, 1889
1891

J.
J.

g.

313

769,600
700,000
582,000
2,332,000

1,000

& J. N. Y., Nat’l Park Bank.
do
do
A J.
New York.
A J.

J.
J.
J.

Stocks—Last
Dividend.

.

3*2

425,000
589,110

19f,000
1,334,000
6,850,400

Whom.

Payable

pal,When Due.

Nov. 1, 1879
Jan., 1893
1897

pf.

7

209,850
1,300,000

500 &c.
500 Ac.
100
100
500 Ac.
500 Ac.
500 &e.
100

Payable, and by

Camden, Co.’s Office.
J. A J. Phila., Farm. A M. B’k.
Phil a. and Mt. Holly.
F. A A.

.

230,500

1,000
1,000
1,000

Where

3
6 g-

15,000,000
13,497,311
3,000,000
3,000,000
1,159,500
1,000,000
2,200,000

1,000
1,000
1,000

g.
6

When

6

350,000

500 Ac.

ioo

....

70
58
146
708
620

•

500
50

^

....

.

•

.

1864
1866

359
74

Central of New Jersey—Stock
Mortgage bonds...:

.

.

7 g.

6
1,600,000
3 &
3,000,000
1,215,550 3^ on
7
490,000

50

....

Rate per
Cent.

$2,250,000

$1,000
a,000

....

....

38
35
14
61
274

•

Outstanding

50

....

(income only till ’81)

Amoxmt

....

1878
1873
1874

100

General mort. “tripartite”

Income bonds

1853
1867

....

Cedar Falls «£• Minn:—Bonds on 1st div., sink. fund.
Bonds on 2d division, sinking fund
Cedar Rapids dt Missouri—Common stock
Preferred stock, 7 per cent
1st mortgage

.

....

100
65

Old
1st mortgage bonds

Central R. R. <£ Bank,

1869
1871
1875

139
139
139
67
60
31
100
291
242
242
92

....

preferred stock
preferred stock.

New

1st mortgage
'1st mortgage

Date
Size, or
of
Par
of
Road. Bonds Value.

Miles

explanation of column headings, &c., see
on

discovered in these Tables.

immediate notice of any error

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

19

STOCKS AND BONDS.

RAILROAD

1880.]

F. A A.

do

at office.
do

April 10,1870
1890

1

Little Schuylkill & Susquehanna in 1831; name changed to Catawissa
California Pacific—South Vallejo, Cal., to Sacramento, Cal., 60 miles, Williamsport & Erie in 1849. Road opened Dec. 18,1854. Reorganized
with branches to Calistoga, 31 miles, and to Kaight’s Landing, 19 miles; under present name in 1859. Leased from Nov. 1,1872, for 999 years
total, 113 miles. Consolidation (Dec. 23,1869) of California Pacific and to Philadelphia A Reading. Rental, 30 .per cent of gross earnings and
C. P. Extension companies. These lines were built by a construction $8,000 a year for company expenses. Funded debt is also assured bycompany, and turned over to the existing company January 19,1870. lessees. Seven per cent is secured to preferred stocks; common stock
Leased for 29 years, from July 1,1876, to Central Pacific. Minimum has the remainder. Capital stock, $4,359,500; funded debt, $1,802,350,
rental (coin), $550,000 per annum, and in addition three-fourths of net and surplus account, $44,818; total liabilities, $6,206,668. Cost of
earnings in excess of that amount. General account (Jan. 1,1879)— property, $6,206,668.
Capital stock, $12,000,000; funded debt, $6,850,000; bills payable,
Cayuga Southern.—Cayuga Bridge to Ithaca, N. Y., 38 miles. The
.$1,219,577; and other liabilities, accounts, &c., $286,113; total liabili¬
ties, $20,355,690. Property account ($171,034 per mile), $19,326,837; Cayuga Lake Railroad was sold in foreclosure August 27,1874, and its
accounts current, $390,890, and profit and loss, $637,963; total property successor (the Cayuga Railroad) was sold by .the trustees of the first
nnd assets, $20,355,690. Extension bonds of $3,500,000 and incomes of mortgage July 26,1877, and the present company organized with the
above stock only. In 1877-8 the operations snowed a deficit. Geo. C.
$1,000,000 were in default, and the new bonds of 1875, guaranteed by Morris, President, Philadelphia.
Central Pacific, were issued, in place thereof. Interest charges were thus
; largely reduced by exchange of old bonds for the present lower-rate
Cayuga <& Susquehanna.—Owego, N. Y., to Cayuga Lake, N. Y., 35
bonds. Third mortgage (1875) bonds are guaranteed by the lessees.
miles. Chartered as Ithaca & Owego in 1828 and opened in 1834. Re¬
Camden & Atlantic.—Camden, N. J., to Atlantic City, N. J., 60 miles, organized as Cayuga & Susquehanna in April, 1873. Leased in per¬
.and branch to May’s Landing, 7 miles; total, 67 miles. Earnings and petuity to Delaware Lackawanna & Western, Jan. 1,1855, at a rental of
$54,600 a year. Dividends on capital, 9 per cent per annum. Capital
expenses for three years past have been—
stock
present owners),
Years.
Earnings.
Expenses.
Profit.
Div’ds,p.c. to the (cost of road tofrom year to year.$589,110. A considerable deficit
lessees occurs
.
1877
$477,483
$300,449
$172,042
24*31
Cedar Falls d Minnesota.—Waterloo, la., to Minnesota State line, 76
1878
399,061
277,848
121,213
miles. Completed in 1870. Leased to Dubuque & Sioux City for 40
1879
*
The preferred stock is entitled to 7 per cent if earned, and to as high a years from Jan. 1,1867, at $1,500 per mile as a minimum and a con¬
tingent of 35 per cent of gross earnings from $3,500 to $7,500 per mile
rate as paid to common stock if more than 7.
and of 30 per cent of any excess over $7,500 per mile. Lease transferred
Camden <£ Burlington County.—Camden, N. J., to Pemberton, N. J., 23
to Illipois Central, October 1, 1867.
Capital stock, $1,587,000, and
miles, and branch to Mt. HoUy, 7 miles; total, 30 miles. Leased to funded debt, $1,587,000. Total (cost of road), $3,174,000. A sinking
-Camden & Amboy Railroad Co., and now operated by the Pennsyl¬
fund of 1 per cent per annum is provided. (V. 30, p. 90.)
vania Railroad Company, lessees of United Railroad A Canal Com¬
Cedar RapidS d: Missouri River.—Cedar Rapids, la., to Couneil Bluffs,
rental, $44,415, being 6 per cent on stock
pany’s lines. Lease
bonds, and $500 for organization expenses. Capital stock, $381,925, la., 272 miles, and Clinton Branch, 3 miles; total, 275 miles. Chartered
and funded debt $350,000; total, being cost of property, $731,925. in 1855 and completed in 1866. Leased to and operated by Chicago A
Dividends, January and July.
. .
Northwestern. Rental, $700 of the first $1,500 of gross earnings per
Canada, Southern.—Victoria, Ont., to Amherstburg, Ont., 229*s miles, mile; 33*3 per cent of next $3,000 per mile, and 20 percent of any
and St. Clair Branch, 62Lj miles; total (original line, all steel), 292 miles; excess over $4,500 per mile. Capital stock—Common, $6,850,400, and
and miles absorbed on reorganization—Erie & Niagara, 28*3; Sarnia preferred 7 per cent, $769,600; and funded debt, $3,614,000. Total
Chatham & Erie, 7; Canada Southern Bridge A Ferry, 3 ; Toledo Canada stock and debt $11,234,000. Quarterly dividends, each of 1 per cent,
Southern A Detroit, 55, and Michigan Midland A Canada, 15; total of have been paid for several j years on common stock, aqd semi-annual
all lines, original and acquired, 400 miles. Besides these the Chicago dividends, each of 3*2 per cent, on preferred stock.
A Canada Southern, 67 miles, was operated up to November 1,1879.
Central of Georgia (<£ Bank).—Savannah, Ga., to Atlanta, Ga.,
'The average operative length of road for 1879 was therefore 456 miles.
The Canada Southern was chartered February 28,1868, and the whole miles, and leased lines and branches, 419; total, 7131a miles. Consoli¬
dation (December 1,1872) of the Central and the Macon & We item.
road opened in November, 1873. Default was made soon after, and a
The
reorganization forming the existing companies was completed in 1878. The principal leased line is the Southwestern and branches (310!2 miles).
company owns large interest in connecting lines and in the Ocean
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 Steamship Line of Savannah.
Paymt nts from Net Earnings—v
-Traffic Eamings.guaranteed. During the year 1879 great improvements were made on
Leases.
Interest.
DivicPds.
Net.
Gross.
the lines a new ferry-boat purchased, and 31 engines * and 1,100 freight Years.
$675,000
$3,437,420 $1,155,262 $397,908 $149,187
cars added to the equipment.
300,000
179,492
419,531
1879.
1878.
Increase.
557,153
2,064,629

and

earnings
Expenses
Gross

$2,480,873

2,070,258
$410,615
353,428

earnings
Interest accrued..
Net

$2,995,366

2,448,091
$547,275
391,452

$514,493

377,833

*$136,660
38,024

$98,636
$155,823
for renewals. The last past
year was the seventh since the road was built, and no extensive renewals
had previously been made. Capital stock, $15,000,000; funded debt,
$13,741,420; coupons payable, $194,794; bills^and accounts, $1,153,548, and income account, $280,507; total liabilities, $30,370,269.
Per Contra—Construction and equipment, $23,777*145; stocks and
bonds of absorbed lines, Ac., $4,919,226; material and supplies,
3*266,824; bills and accounts, $921,588 ; traffic balances, $348,001, and
cash, $137,484; total property and assets, $30,370,269. The total
amount of new bonds authorized is $14,000,000, of which the company,
after providing for all claims, held a reserve of $191,583. The bonds
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.
30, p. 116, 141.)
Carolina Central.—Wilmington, N. C., to Shelby, Mo., 242 miles.
Formerly Wilmington Charlotte A Rutherfordton, chartered in 1855.
Succeeded by existing company after foreclosure May 3,1873. Opened'
to Shelby in September, 1875. Defaulted, and receiver placed in pos¬
session April 5,18761 Earnings in 1878-79, $420,765; expenses, $256,806; profits, $163,959. Capital account for March 31,1876, (latest)—
Preferred stock, $4,202,000, and funded debt, $6,000,000 ; total (cost
of property), $10,202,000. No common stock acknowledged. Wilming¬
ton Bridge bonds, $400,000, at 8 per cent guaranteed by company and
acknowledged by receiver. The road remains in statu quo, and no re¬

2,886,537
2,601,542
2,409,092
2,675,318
2,824,547

This company and the
the Western Railroad

Surplus
$57,187 '
Oharged to expenses in 1879 was $235,332

,

294^

April, 1875.

the Macon &

983,541
826,925
1,093,967

1,208,245

Georgia

588,698
493,586

439,596
439,631

439,652

The “tri-partite”

252,129
285,444
255,412

187,178

279,178
272,428

of
sale in

owners

Railroad Company foreclosure
are joint
purchased at foreclosui

of Alabama,

Western and the

655; V. 30, p.

•

1,199,832

bonds are issued jointly by this company,
Southwestern. (Y. 27, p. 381; V. 29, pf

143.)

Northwood, la., 189 miles, and coal
Chartered as Central Railroad of
and placed in hands of a receiver
in 1873. Reorganized under present title, June 18, 1879, after fore¬
Gross earnings
closure sale under first mortgage July 18, 1877.
in 1878-79, $715,563; net earnings, $160,545. The new stock reduced
is
$1,900,000 common; preferred stock, 1st, $907,908; and 2d,
$1,167,800, given for the old 2d mortgage bonds. In February. 1880,
the income bonds were issued to first mortgage bondholders in pay¬
ment of four years’ net earnings. (Y 28, p. 17,145, 299, 378, 453, 477,

Central of Iowa.—Albia, la., to
branch, 2 miles; total, 191 miles.
Iowa and opened in 1871. Defaulted

553, 577; V. 30, p.

168, 191, 221, 248.)

J., to Phillipsburg, N. J., 73
miles ; leased lines—in New
total leased lines, 262 miles;
total length operated, 395 miles. The principal leased lines in Pennsyl¬
vania are the Lehigh A Susquehanna and the Lehigh A Lackawanna,
with their branches, Ac. The main line from Elizabeth to Phillipsburg
was opened in July, 1852, and extended from Elizabeth to Jersey City
in 1864. The Long Branch division was opened in September, 1875.
The lease of the Lackawanna A Susquehana Railroad is dated March 31,
1871, and is virtually a consolidation agreement, the lessees having pur¬
organization has been made.
chased the rolling stock. In February, 1877, the property was placed in
Catawissa.—Tamanend, Pa., to Williamsport, Pa., 93 miles, and a •the hands of a receiver, and on April 1,1877, default was made on con*
branch to Silver Creek mines, 4 miles; total, 97 miles. Chartered as




Central of New Jersey.—Jersey City, N.
miles, and branches 57—total owned, 130
Jersey, 50, and in Pennsylvania, 215,

RAILROAD
Subscribers will confer

a

STOCKS

Central of Hew Jersey— (Continued)—
Bonds (convertible Nov., 1875 to 1877)

1874563.

Consolidated mortgage (for $25,000,000)

Income bonds, reg., (not cumulative)
Newark & New York, 1st mortgage
Lehigh & Wilkesbarre Coal Co., 1st mort., guar...
do
do
Consol mort., coup.
do
do Inc’mebds, rg.(not cum’lat’e)
Am. Dock& Imp.Co. bonds, guar. Cent.of N. J

97
•

•

m

m

*

•

7
-

m m

a

#

m

Central Ohio—Common stock
Preferred stock
1st mortgage bonds
Central Pacific—Stock
1st mort., 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)
1st m.S. Joaq’n Val.Br.,gld (s.f.$50,000,begins ’80)
U. S. Loan, (2d lien on certain
terms)
Western Pacific, 1st mort., gold, (s. f. $25,000)...
do
Government lien
Cal. & Oregon, 1st M., gold, guar., (s. f.
$100,000)
C. P., mortg. on C. & O. Br. (s. f. $100,000)
San Fran. O. & A., 1st M. (s. f. $100,000
begins ’80)
Land grant mortgage bonds
Champaign Havana & West.—1st mort., pref
1st mort gaw,e
Charlotte Columbia «C Augusta—1st mort. consol...
2d Mortgage

Chartiers—1st mortgage
Cherry Valley Shar. <£ Al.—1st mort., convert
Chesapeake <k Ohio—Purch. money bds ($2,300,000)
1st mortgage ($2,000,000), “A”.

m

m

m

m

m

1872
1874
1878
1867
1874
1875

m

m

Adjustment mortgage

137
137
137
2180
742
50
50
146
742
158
123
152
152
20

131
131
195
195
23
21
•

mm

434

•

•

•

Size,

or
par-

Vlalue. Outstanding

$1,000

$4,400,000

1,000
100 &c.
500 &c.
£200

1,000
100 &c.

•

1878
,

54,275,500
25,883,000
1,500,000

1,000
1,000
1,000

•

•

1,483,000
6,080,000

•

jgf

1869
'

..

1868
1872
1870
1870
1879
1879
1869
1872
1871
1869
1878
*

*

*

•

600,000
1,680,000
11,500,000

2,500,000

100

•

7
7
7
6 g.
7
7
7
7

2,437,950
411,550

1,000

1870

7

15,000,000
2,450,000

1,200,000
3,000,000
5,550,000

1,000
100 &c.
50
50

1865-8
1864
1862

Rate per
Cent.

25,885,000
1,000

2,616,000
1,970,000
6,000,000
2,000,000

....

1,000
1,000
1,000

7,300,000

100 &c.
100 &c.

350,000
1,100,000

•

•

•

1,810,500
500,000
500,000
300,000

•

1,000
1,000
500 &c.

1,000

201,000

100 &c.

(?)

& Improvement Company, which is
virtually owned
company, issued a mortgage in 1877 to secure its bonds.

Earnings.
$8,881,366
8,609,276
7,411,637
6,983,173
5,753,413
5,589,526

Net

Earnings.

$4,596,782
4,391,610
3,215,377
3,188,469

/

by the railroad
Earnings, &c.,

XXX]

$1,150,304

2,484,846

1,128,4341,059,549
983,113
706,345

2,302,770

699,134

$868,659
807,406
658,243
675,609
563,114
734,500

$1,600,000
2,000,000
2,000,000
500,000

Pacific, 165, and others,
168; total, 885 miles : total length of road operated and accounted for,
2,098 miles. Consolidation (August 22, 1870) of the Central Pacific,
California <fe Oregon, San Francisco & Oakland, San Francisco <fe 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 Bluffs, 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.
Ave.
Gross
Dividend
Operating
Net
Years. Miles.
Accounts.
Earnings.
to Stock.
Earnings.
1873.. 1,221
$12,863,953 $4,969,272 $7,894,681 $1,628,265 (3)
1874.. 1,216
13,611,631
5,268,132
8,342,899
2,713,775 (5)
1875.. 1,293
15,165#82
6,487,200
9,177,882
5,427,550 (10)
1876.. 1,425
16,996^216
7,857,211
9,136,005
4,342,040 (8)
1877.. 1,783
16,471,144
7,774,418
8,696,726
4,342,040 (8)
1878.. 1,941
17,530,858
8,786,119
8,744,739
1,628,265
1879.. 2,178
17,128,292
Leased lines rentals in 1878, $2,485,059; interest on
bonds, $3,954,780.
The 7 per cent bonds, due 1883, will be
paid off July 1 and Sept. 1,1880.
The annual report was given in the
Chronicle, V. 28, p. 623, and V. 29, p.
405. The President remarked of the effect of the new constitution in
Cali¬
fornia and the Act of Congress: “ Since your last annual
meeting the
Supreme Court has decided the Thurm^h bill to be constitutional m its
provisions. That bill assumes to dispose of the net income of your
com¬
pany. The new constitution of the State provides for the control of the
gross income by three commissioners. The two seem to be entirely
inconsistent, for the control of the net income would appear necessarily
to carry with it the control of the gross, so as to permit
the possibility of
a net.
The commissioners elected under the new constitution
control the gross income as to leave no net. In this there is a may so
manifest
conflict of jurisdiction, and a judicial decision
determining between these
two mighty and conflicting powers is
necessary for the protection of the
interests of the stockholders and creditors of the
company. There is no
foundation in good reason for the attempts made
by the general govern¬
ment and by the State to
specially control your affairs.
of might, and it is to your interest to have it determined It is a question
where the power
resides.”
*
.*
*
‘‘Your company, however, has little to
appre¬
hend from the illy-digested and illy-considered article in the
new consti¬
tution providing for the election of commissioners with
autocratic
powers, because the act of Congress authorizing the construction of
your
road has given to you the regulation of
your own freights and fares up
to a certain
point, as appears in section 18 of the Act of July 2,1862. If
the commissioners should be inclined to rule
hardly against the railroad
companies, the interests of the State (which cannot be developed fairly
except through the construction and operation of
many more miles of
railroad than it now has) will require that
they shall practically do no
injury to existing railroads; because if they do there will surely be no
further construction of railroads in this
State, for no capitalists can be
found so reckless as to make investments where the
gross proceeds are
to be regulated by somebody aside from those who make
the investment
and who
may be the owners.” The land department makes the
exhibit: Total grant from the United States (12,800 acres following
per mile),
7,997,600 acres; grant to the California & Oregon Railroad, 3,724,800

Payable

1875643.

M. & N.

Q.-J.

M. & N.
J. & J.
M. & N.

pal, When Due.

Where payable, and by

Stocks—Last
Dividend.

New York, at office.
do
do
do
do
do
do
London.

Nov., 1902
July 1, 1899
May 1, 190$

1887
Feb. 1, 1899
June 1, 1900

May 1, 1888
May 1, 1903
Dec. 29,1879
Dec. 29,1879

Sept., 1890
Feb. 1, 1880
1895 to ’98

July 1, 1884

Jan, 1, 1883
Oct. 1, 1900
1895 to ’98

July 1, 1899
1899
Jan. 1, 1888
Jan, 1, 1892

?*

•

July 1, 1890
Oct.

1, 1890

July, 1909
July, 1909

Jan. 1,
Jan. 1,
Oct. 1,
Deo. 15,

1895
1910
1901
1899

July 1, 1898
July 1, 1908

acres. The lands have been sold mostly on five
cash payment of 20 per cent at time of purchase.
There had been sold prior to the execution of the land
mortgage, Oct¬
ober 1,1870, 127,637 acres for $295,065, and since that date as
follows :
Years.
Acres sold.
Total am’t. Av. per acre.
Oct. 1,1870, to Dec. 31,1872.... 122,765
$484,227
a

58,733

63,846
29,254
36,503
92,647
78,100

$3 94*2

410,314
388,824
163,725

7
6
5
7
12
8

275,400

1,203,870
643,776

00
09
60
54

*

•

99i4

242378

Trustees of land mortgage held in
May, 1879, $108,512 in cash and
$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; Y. 29, p. 95, 405, 434, 510, 563; V. 30, p. 248.)

Champaign Havana <& Western.—^Champaign, HI., to

Central Ohio.—Bellaire, O., tp
Columbus, O., 137 miles. Chartered in
1847 and opened in 1854. Reorganized m 1865. Leased to the Balti¬
more & Ohio, for 20
years, Nov. 11, 1866; rental, 35 per cent of gross
earnings. 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 & Columbus (33 miles) is owned
jointly with the
Pittsburg Cincinnati & 8t. Louis Railroad Co.
Central Pacific.—San Francisco, Cal., to Ogden,
Utah, 882 miles, and
auxHiaiw lines, 330; total, 1,213 miles; operated imder lease or con¬
tract—the Southern Pacific, 553; California

Bonds—Princi¬

Q.-M. N.Y.—Cent. RR. of N. J.
M. & N.
do
do
J. & J.
do
do
M. & N.
do
do
J. & J. Balt., at B. & 0. office.
1%
3
J. & J.
do
do
M. & S. Balt., West. Natl. Bank.
6
A. & 0. N. Y. & San Francisco.
3
6 g. J. & J.
N. Y., Fisk & Hatch.
7 g. J. & J. Sacram’o State Treas.
7 g. J. & J.
N. Y., E. Kelly & Co.
6 g. A. & O.
N. Y., Fisk & Hatch.
6
J. & J.
U. S. Treasury.
6 g. J. & J.
N. Y„ Fisk & Hatch.
6
U. S. Treasury.
6 g. J. & J.
N. Y., Fisk & Hatch.
6 g. J. & J.
New York & London.
8
J. & J.
N. Y., Fisk & Hatch.
A. & O.
do
do
J. & J. N.Y., Nat. Bk. Republic
7
J. & J.
do
do
7
J. & J. N.Y.,M.K. Jesup,P.& Co.
A & 0.
7
do
do
7
A. & O. Philadelphia, Penn R.R.
7
J. &D. N. Y., Metropolitan Bk.
6
J. & J.
Richmond.
6 g. A. & O.

total, 11,722,400

years’ time, with

Paid from Net Earnings—
Leases.
Interest.
Dividends

1879
The last dividend paid was at the rate pf 2L>
per cent, April 10,1876.
—(V. 27, p. 651; Y. 28, p. 120, 223, 476, 578; V. 29, p. 197, 657.)




acres;

When

....

500.000

1,000

e

follows:
Gross

Vol.

INTEREST OR DIVIDENDS.

Amount

,

solidated mortgage interest. Reorganization followed
[See scheme, V.
26, p. 215], and has been a success. The Delaware & Bound Brook Rail¬
road opened May 1, 1876, connects this road with the North
Pennsyl¬
vania Railroad, and forms a route between New York
City and Philadel¬
phia. It was leased in 1879 to Phila. & Reading RR. The American Dock

Years.

BONDS.

great favor by giving immediate notice of any error discovered in these Tables.

DESCRIPTION.
Miles Date
For explanation of column headings, &c.,
of
of
see notes
on first page of tables.
Road. Bonds

were as

AND

Havana, Ill.,
100 miles, and from White Heath to Decatur, 31
miles; total, 131 miles.
Built by the Indianapolis Bloomington & Western Railroad
Co., under
the designation of Western Extension, and for which
separate bonds
were issued to the amount of
$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. (V.
29, p. 301.)
Charlotte Columbia <6 Augusta.— Charlotte, N. C., to
Augusta,
195
miles. Consolidation (July 9,1869) of the Charlotte & South Ga.,
Carolina
and the Columbia & 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 1877-8, $441,357;
net earnings, $152,228. Interest

liability, $175,738.

Capital stock,

t2,578,000; funded debt, loss, $192,880; total liabilities, $5,468,283.
54,079; and profit and $2,510,548; bills payable, $132,776; accounts,
contra—Permanent

Per
and accounts and

property, $5,193,985; other assets, $193,167,
cash, $81,131 ;. total property and assets, $5,468,283.
There are $189,500 of old Columbia & Augusta bonds
yet outstanding,
due in 1890. (V. 27, p. 280; V. 28, p. 96
J
C.

Chartiers.—Mansfield, Pa., to Washington, Pa., 23 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 1878, $84,487; net earnings, $42,588.' Interest, $35,000.
Surplus, $7,588. Capital stock, $648,302, and funded debt, $500,000;
liabilities, $1,148,302. Cost of road, &c., $1,084,804; real estate,
$37,442, and cash, Ac., $26,056 ; total property and assets, $1,148,302.
total

-(V. 28, p. 377.)

.

Cherry Valley Sharon <£• Albany.—Cobbleskill, N. Y., to Cherry Valley,
N. Y., 21 miles. Chartered in

1869 and opened in 1870. Leased on
completion to Albany & Susquehanna. Sold under foreclosure in 1875,
and purchased by the Delaware & Hudson Canal
Company for $320,119.
Rental $21,000 a year.
Capital stock, $281,350, and funded debt>
$300,000. Total stock and bonds (cost of property), $581,350.

Chesapeake <£ Ohio.—Richmond, Va., to Huntington, W. Va., 428 miles,

and branches 7 miles; total, 435 miles.
tral and Covington & Ohio, and opened

Consolidation of Virginia Cen¬
through March 1,1873. Exten-.
sion to deep water (seven miles)
completed in
Defaulted in 1873 and (October 9, 1875) receiver December, 1873.
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 i
“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 the
waters of Chesapeake Bay, and at the west end a
connection with the
Elizabeth Lexington & Big Sandy Railroad to
Louisville, &c.” Of
these, Mr. Huntington further remarked: “The Elizabethtown Lex¬
ington & Big Sanay Railroad Company, which has 33 ^ miles of road
in operation m Central
Kentucky, has announced its purpose to extend
its road to the Big
Sandy River, there to connect with your road; and
the contract for the construction within two
years has been let to respon¬
sible parties. One of the conditions of the contract is that
the Elizabeth¬

town Lexington & Big Sandy Railroad
Company shall sell $1,200,000 of
its first mortgage bonds before the work is
commenced, and from time to
time pay over the proceeds to the contractors who
undertake the con¬
struction. It is expected that the holders of the
Chesapeake & Ohio
Railroad securities will take these Big
Sandy Railroad bonds, as that is
the indispensable step to securing a western outlet
by rail, the building
of which will add to the
present holdings fresh value, more than the
$1,200,000 for which they are asked to subscribe, to say nothing of the
bonds on the Kentucky road being a first-class
security of themselves.
It is not probable (if this loan is
promptly taken) that the two years’
time will actually be consumed; and it is

represented to

me

that it is

highly desirable that the Chesapeake & Ohio Company should have its

RAILROAD

March, 1880.]

Sbbterlben will confer a great flavor by
DESCRIPTION.
For

explanation of column headings, &c., see notes
on

first page of tables.

STOCKS

giving immediate notice of any error discovered in these Tables.

41786732-781
595643
434

gold, “B”

88

677
649
322
220
220

1st mortgage
Income bonds

fund $13,860 per year)..

1862

1857

37
150

1868
1868

101

101

1864

1864

$1,000 $15,000,000
1,000
10,000,000
100,000
918,000
100
2,153,300
500 &c.
836,400
100
10,065,300
100
2,425,400
4,379,850
1,000
1,000
2,363,000
500 &c.
1,096,000
100
1,500,000
306,000
1,000
1,000
2,365,000

1870

1,000
1,000
1,000
1,000

564,000
188,000
360,000
1,854,000

1877

1,000

300,000

11878

1,000

1877

162

.

registered)

1863

38
150
37

1682
Chicago Burlington dt Quincy—Stock.
466
1st mortgage, sinking fund, (trust),. .
825
Consolidated mortgage coupon, (for $30,000,000)
689
Trust mort.on Iowa lines,coup.or reg.(s.f. l1^ p.c.)
100
Northern Cross R. R. 2d. mortgage, gold
96
Trust mortgage (Burlington to Peoria)

Bonds of 1875, (sinking

1873

38

Joliet & Chicago, 7 per cent, stock
do
do
1st mortgage, sinking fund
St. Louis Jack. & Ch., 1st mortgage
do
1st mort. guar, by C. & A...
do
do
do
2d mort. guar, by C. & A...
do
do
2d mortgage
Louisiana & Missouri, 1st mortgage
do
do
2d mort.(mt. guar. C. & A.)
do
do
guar. pref. stock
Bonds for K.C.St.L.& C. line, s.f. $60,000 after’79
Preferred stock do
guar. C. & A
C. & A. bonds on Miss. Riv. Bridge, 1st mort., gold

Plain bonds (coupon or

21

Bonds—Princi¬
INTEREST OR DIVIDENDS.
Date Size, or
pal,When Due.
Amount
Rate per When Where Payable, and by Stocks—Last
of
of
Par
Whom.
Dividend.
Cent.
Road. Bonds Value. Outstanding
Payable

(Va. Cent. R. R.,) guaranteed by Va.
do.
coupon
do.
Cheshire—Stock, preferred
-.
Bonds, not mortgage
'.
Chicago <& Alton—Common stock
Preferred st’ek (7 p. c. y’rly not cumulative)
General mortgage, sterling, for £900,000

-

BONDS.

Miles

Chesapeake <6 Ohio—( Continued)—
1st mortgage,
2d mortgage
1st mortgage,
3d mortgage,

AND

1,600

1858
1873
1879

1,000
1,000

3,000,000
1,750,000
700,000
30,409,407
2,711,000
13,068,000
3,000,000

100

1872
1875

1,000
1,000

1,000

741,000
653,000

1,462,475
415,000

8*
6
6

1*2
6
3

313

?*•
7

1%
8
7
7
7
7
7
7
3 '

»

s6*
6
2
8
7

5
4 g7
7

5

M.
J.
J.
J.
J.
J.
M.
M.
J.
J.
A.

& N.
New York,
July 1, 1908
do
& J.
July 1, 1918
N. Y., Am. Exch. Bk.
1880
&
do
do
1884
&
Jan. 12,1880
Boston,
&
do
&
July 1,’80&’96
&
N. Y.,M.K.Jesup.P.& Co. Mar. 1, 1880
do
do
Mar. 1,1880
&
&
Lond’n.J.S.Morgan&Co. July 1, 1903
&
N.Y.,M.K.Jesup,P.& Co. Jan., 1893
do
do
&
Jan., 1883
N. Y. U. S. Trust Co.
Jan., 1880
Q.—J.

J. & J.
A. & O.
A. & O.
J. & J.
J. & J.
F. & A.
M. & N.
F. & A.
M. & N.
F. & A.
A. & O.

N.Y.,M.K. Jesup,P.& Co.
do
do
do
do

do

do

do
do
do
do
do

do
do

do
do

do
do

ALpril 1,1894

do

July, 1898
Aug., 1900

N.Y.,M.K.Jesup,P.&Co.
Q.-M. N. Y., Bk. of Commerce.

J.
J.
A.
J.
A.
J.
J.

&
&
&
&
&
&
&

July, 1882
April, 1894.

do
do
J.
J. N.Y.N.Bk.of Com.&Bost
New York.
O.
Frankfort.'
J.
O. N.Y., N. Bk. of Com’rce.
Boston, Co.’s office.
J.
D.
Boston, Co.’s Office.

July, 1898

Nov. 1, 1900
Feb. 2, 1880

May 1, 1903
Feb. 2,1880
Oct. 1, 1912
Mar. 15,1880
Jan. 1, 1883

July 1,
Oct. 1,
July 1,
Oct. 1,

1903
1919
1890
1890

Jan. 1,

1896

June 1, 1895

Net
Dividends
Gross
Operating
on Stock.
Earnings.
Earnings.
Expenses.
$1,135,080
$2,121,286
$5,497,541
$3,376,255
1,135,080
2,224,877
2,901,351
5,126,228
2,052,638
1,021,572
4,656,764
2,604,124
2,269,468
985,652
4,960,529
2,691,061
926,898
2,107,337
4,464,343 *”
2,357,006
ultimately to the territory beyond, by very short, serviceable connecting
448,262
2,156,385
2,515,134
4,671,519
lines. Inasmuch as the company will still need to hold on to any advan¬
765,776
2,706,156
5,755,677
3,049,520
tage it may derive from an interchange of traffic with river craft, and as
Huntington is the proper point for it, besides being the point toward The sinking fund bonds of 1878 are limited to $3,000,000, and are
which tne roads in Ohio are tending, in the hope of ultimately crossing secured by an equal amount of Kansas City St. Louis & Chicago 1st
by a bridge, it has been deemed the best to make a temporary arrange¬ mortgage bonds deposited with the United States Trust Company. A
ment with the Big Sandy Railroad Company, as an inducement to the sinking fund of 2 per cent, commencing May 1,1880, is provided. The
completion of a through line, whereby the trains of the latter shall run report for 1878 was given at length in V. 28, p. 274, 298. (V. 28, p.
continuously between Lexington and Huntington over the eight miles of 274, 298, 400, 428, 624; V. 30, p. 246.)
our road yet to be built, and collect the tolls thereon for a term of years.
Chicago Burlington dk Quincu.—Chicago, HI., to Plattsmouth, la., 484
The vital importance of western connections, and of ocean terminus on
the Lower Chesapeake Bay, I have before referred to. Surveys have miles; branches m Illinois, 570 miles, and in Iowa 267 miles; leased
been ordered for such a line between Gordonsville and the lower lines in Illinois, 321 miles, and lines operated under contract for joint
Potomac, between Hanover Junction and the bay of Piankatank, and use in Iowa, 27 miles; total lines and branches owned, leased and oper¬
between Richmond and Yorktown on the lower James and York rivers, ated at close of 1878,1,670 miles. During the year 1879 the Iowa branch¬
with a view of determining the most practicable point for trans-shipment es were extended in the aggregate a length of 114^ miles(10 in Missouri),
to large vessels, and for the accommodation of through freights destined The total length of road operated Jan. 1,1880, was 1,856 miles. In
February, 1880, the St. Joseph & Des Moines (narrow gauge), 23 miles,
to the cities along the seaboard.” Earnings, &c., were as follows:
was purchased.
The Chicago Burlington & Quincy was a consolidation
Gross
Operating
Net
(January 1, 1873) of the Chicago Burlington & Quincy in Illinois
Years.
Earnings.
Expenses.
Earnings. ahd the Burlington & Missouri River in Iowa. The C. JB. & Q. in Illinois
$1,210,500
$879,700
$330,800 was a consolidation (July 9,1856) of the Chicago & Aurora and the Cent¬
1,460,190
1,214,340
245,850 ral Military Tract. At a later date the company purchased the Northern
346,868 Cross and the Peoria & Oquawka railroads. The Burlington & Mis¬
1,459,189
1,112,321
1,599,512
1,245,036
356,476 souri River Railroad was chartered in 1856 and opened its whole
1,702,533
1,363,225
339,308 length in 1869. The bridge over the Mississippi at Burlington was built
1,936,360
1,594,739
341,621 in 1867-68. The branches brought into the consolidation hy both roads
384,209 were extensive, and, as feeders, valuable. Under the consolidation,
1,891,542
1,507,332
these branches have been greatly extended. The Q. A. <fc St. L. was
Under the reorganization the capital account stands thus: Capital leased in
perpetuity from Oct. 1,1876, at a rental of $42,000 a year.
stock, common. $15,906,138; preferred stock—first, $4,697,803; second, The St. L. R. I. <fe C. was leased from Oct. 1,1876 ,at a rental of $175,000
$6,431,615; Virginia Central Railroad bonds and interest, $2,074,425; a year. The Chicago Clinton Dubuque <fc Minnesota, 208 miles, was
first mortgage 30-year 6 per cent gold bonds—A, $2,000,000, B, $15,taken under perpetual lease near the close of 1879. The rental is inter¬
000,000; second mortgage 40-year 6 per cent cur. bonds, $10,122,500; est on bonds and 4 per cent on stock. The Chicago Burlington &
total stocks tind bonds, $56,232,481.
The payments on old Virginia
Central bonds and coupons, and notes issued therefor, were made as per Quincy on its leases of the numerous branch roads usually gave them a
traffic guarantee of 40 or 50 per cent for purchasing their bonds.
circular, Chronicle, V. 27, p. 94. (V. 28, p. 41,172, 502, 525; V. 29, p.
Enough of the C. B. & Q. consolidated mortgage is reserved to take up
17, 66, 670; V. 30, p. 141, 248.)
prior debts. In January, 1879, new stock equal to 10 per cent of the
old was issued to stockholders at par. The bonds of 1876 for St. Louis
Cheshire.—South Ashburnham, Mass., to Bellows Falls, Vt., 54 miles.
Rock Island & Chicago Railroad are plain bonds of Chicago Burlington &
Opened in 1848. Between South Ashburnham and Fitchburg (11 miles) Quincy, offset by
mortgage of like amount on St. Louis Rock Island &
the Vermont & Massachusetts Railroad is used at a yearly rental of
Chicago road deposited with trustees. Earnings and disbursements for
$54,000. Gross earnings in 1877-78, $527,588; net earnings, $123,885, the past seven years have been as follows:
or, adding rents, &c., $132,019.
Dividend, 1 per cent. Capital stockNet
/—Paidfrom Net Earn’gs—v
Average
Gross
common, $53,300, and preferred, $2,100,000; floating debt, $26,312,
Miles.
Interest.
Dividends.
Earnings.
Earnings.
and profit and loss, $24,427 ; total liabilities, $3,040,539. Per contra— Years.
$2,220,056
$2,576,770
$4,803,153
1,236
$11,405,226
Road and equipment, $2,717,535; materials, $177,285; and cash and 1873..
2,661,089
1,958,892
5,048,376
1,268
11,645,318
cash assets, $145,719; total property and assets, $3,040,539.
New 6 1874..
2,014,709
2,685,536
5,272,717
1,272
11,791,361
per cent bonds for $586,000, authorized, to redeem bonds of 1880.
(V. 1875..
1876..
2,749,066
1,996,957
1,339
5,080,037
12,057,795
27, p. 537.)
1877..
2,108,468
2,479,714
5,241,746
1,620
12,551,455
2,155,972
2,212,527
6,247,750
1,624
14,119,665
Chicago t£ AIton.—Chicago, Ill., to East St. Louis, Ill., 281, and 1878..
2,463,266
14,779,715
2,110,937
7,260,038
branches, 132; total (main line and branches), 413 miles. Leased lines, 1879..
Chicago <fc Illinois River, 24; St. Louis Jacksonville & Chicago, 151; And there were taken from net earnings in the five years, 1874rLouisiana & Missouri River, 101; and Kansas City St. Louis & Chicago, 1878, the following amounts: For purchase of bonds for sinking fund,
164; total leased lines, 438 miles. Total lines operated, 851 miles. The
Joliet & Chicago (leased), 37 miles, is included in the main line. Char¬
404,553; and for the establishment of a renewal fund, $1,000,000, or a
tered as the Chicago & Mississippi, February 27, 1847; reorganized total of $2,867,886.
under act of January 21,1857, as Chicago Alton & St. Louis, and under
GENERAL BALANCE, DEC. 31, 1878.
act of February 16, 1861, the present corporation succeeded to the
Liabilities.
Property and Assets.
property, which was sold under foreclosure in the following year and Construction
$50,161,171 Stock C. B. & Q. RR... $27,822,610
transferred to new organization in October, 1862.
Chicago and St. Branches, cost
134,206
14,985,040 Stock B. & M. RR
Louis were connected by the present line in 1864.
The Joliet’ Materials
27,058,725
524,795 Funded debt
& Chicago is leased from January 1, 1864, for the term of its
Dues and bills receiv¬
Contingent liabilities.
3,819,000
charter, and forms part of the main line. Rental, 7 per cent on stock and
able
1,166,480
1,756,433 Bills payable & l’nd gr.
8 per cent on bonds. The St. Louis Jacksonville & Chicago is leased in
2,651,825
1,067,889 Sinking funds
perpetuity from April 30,1868, at a rental equal to 40 per cent of gross Sinking fund trustees.
Trustees’ land grant..
4,181,818
1,348,558 Income account..
earnings until the amount reaches $700,000, with a minimum of $240,000 Miscellaneous
;
50,362 Land grant sink’g fd..
1,749,228
a year. The Louisiana & Missouri River is leased in perpetuity from
July Cash
1,000,000
172,490 Renewal fund
1,1870. Rental, interest on bonds and guaranteed stock. The Chicago &
Profit and loss, &c....
482,847
Illinois River Railroad was sold in foreclosure Sept., 1879, and purchased
by this company. The Kansas City St. Louis & Chicago was opened
Total
Total
$70,066,742
$70,066,742
through May 1,1879. It was built by the Chioago & Alton Company,
The land grant brought into the consolidation was 388,817 acres, all of
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 which, except 39,932 acres, had been sold by the close of 1878. The
The grant
bonds of the company are guaranteed by the lessees, and a sinking fund assets at tne close of 1878 amounted to $4,909,431.
of $60,000 per annum provided for their redemption. Should the 35 per was made to the Burlington & Missouri River Railroad.
In Feb¬
cent be more’ than sufficient to pay bond interest and 7 per cent on ruary, 1880, the consolidation with the Burlington & Missouri River in
the stock, the excess is to go to the lessees. The Mississippi River Bridge Nebraska, including the control of Atchison & Nebraska, was to be voted
is leased in perpetuity from December 3,1877, at a rental of $63,000, to at the annual meeting on Feb. 23; this is to be on the basis of an
be applied in payment of 7 per cent on $200,000 stock, and 6 per cent on exchange of stock share for share and a stock distribution of 20 per
$700,Q00 bonds. Annual report for 1879 in V. 30, p. 246. Operations, cent. (V. 28,p. 223, 274; Y. 29,p. 67, 119, 356, 658; V. 30, p. 16,116,
221,248.)
earnings, &c., have been as follows for seven years past:

track at the Big Sandy terminus ready to meet it. For this purpose it
will be necessary for the company to resort to a portion of the $2,000,000
series A bonds reserved for extension purposes, upon which interest will
begin to run as soon as issued. The completion of this link of less than
100 miles by the two companies will admit us to the fine agricultural
and stock regions of Kentucky, to Louisville and Chattanooga, and




Years.

*

t1,463,333; for purchase of stock of the Chicago & Iowa Railroad Co.,

22

RAILROAD; STOCKS AND BONDS.

Subscribers will confer

a

great favor by giving immediate notice of any error discovered in these Tables*

DESCRIPTION.
For explanation of column headings, Ac.,
on first page of tables.

Miles Date
of
of
see notes
Road. Bonds
.

^-Chicago Burlington d Quincy—( Continued)—
Dixon Peoria & Hannibal, 1st m... j
Ottawa, Oswego & Fox Riv., 1st m l

(

bi?Sa£beJ
Illinois Grand Trunk, 1st mort....
may be
f
Quincy & Warsaw, 1st mortgage
J regl8terea* [
..

B'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&400.000ac’sl’d) Cp.
-do
do

1st M. on br.,C.B.&Q.stk.(5th ser )
Couv. bonds, C.B.&Q.stk.(6th ser.)

> or
J reg.

40
70
44
40
270
46
281
40

67*2
Chicago d Canada Southern—1st mort., gold
73
c.Chicago Cincinnati d Louisville—1st mort
223
Chicago Clinton Dubuque & Minn.—Stock
1st mortgage
223
Chicago Detroit & Canada Grand Junction—1st M
Chic, d Ea8t.Ill.—1st M., coup. (s.f.$20,000 after’85)
3.37
2d mortgage income
137
80
Chicago d 'lowa—1st mort., coup., may be reg
82
Chicago Iowa d Nebraska-—Stock
2d mortgage (now 1st)
82
do w (now 2d)
3d
82
Chic, d L. Huron— Peninsular, 1st M.,gold, s. f
166
Port Huron & L Mich., 1st mortgage
66
Chicago Milwaukee d St. Paul—Coim stock
1,729
Preferred st’ck (7 p. c. y’rly, not cumulative)
1,729

Size,

or
Par

Value.

1869
1870

$500&c.
1,000

1870
1870

500 &c.

1876
1876
1863
1869
1870
1872
1867

1,000
1,000
1,000
50 &c.
500 <fec.
500 &c.

1,000
500 <&c.

1879

.

1st mortgage

2d mortgage
1st mortgage
1st mortgage
1st mortgage
1st mort., Ia.
1st mortgage

$35,000,000)

(Lacrosse Div.)

j "g tii
.q

(Iowa & Minnesota)
(Minnesota Central)

(Iowa & Dakota)
&Dak. Ext.($15,000
(Prairie du Chien)

p. m.)

g£

§2

^

ap n

370
370
220
49
300
235

INTEREST OR DIVIDENDS.
Amount

Outstanding

$546,500
1,079,000
890,500
720,000
2,360,000
840,000
4,638,250
279,000
370,500
2,571,350
1,000,000
6,156,000
400,000

3|000;000

1877

1,000

1877

100 &c.

1871

1,000

1860
1863
1869
1870

100 &o.
500 &c.

100

1,000
100
100

1875
1863
1864

1,000

1867
1864
1869
1878
1868

1,000
1,000
1,000
1,000
1,000

1,000

1,000

Chicago d Canada Southern.—Grosse Isle, Micli., to Fayette, O., 68
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

•miles.

and a bonded debt of $2,576,000, and owed upwards of $1,000,000 over¬
due coupons. Original cost, $4,811,790. It-ss 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 &

Bond 8—Princl -

pal,When Due.

Rate’ per When Where Payable, and by Stocks—hast
Cent.
Whom.
i
Dividend.
Payable

1,095,000

-

Consolidated mortgage (for

fVOL. XXX.

750,000
1,750,000
3,916,200
568,200
211,500
3,600,000
1,000,000
15,404,261
12,279,483
7,304,000
6,600,000
600,000

3,810,000
190,000
591,000
4,500,000
3,674,000

8
8
8
8
5
5
7
8
8
7 g.
7
2
7
6
6
7
8
5
7
7
7 g.
7 g.

2*2
3*2
7
7
7
7
7
7
7
8

J.
J.
A.
J.
A.
F.
A
J.
J.
A.
J.

&
&
&
&
&
&
&
&
&

J.
J.
O.
J.
0.
A.
O
J.
J.
& O.
& J.

N.Y., N. Bk. of Com’rce.
New York and Boston.
Boston.
New York and Boston.
Boston.

Boston, C. B. & Q. RR.

July, 1889
July, 1900
Oct., 1890

July, 1890
1, 1901

Oct.
Feb.
Oct.

1, 1896
1, 1893
July 1, 1894
do
do
July 1, 1889
N. Y., Union Trust Co.
April 1, 1902
N. Y., Farm. L. & T. Co.
Jan., 1887
April 15,1879
Boston, Office.
F. & A.
do
Feb. 1, 1884
Boston and New York.
do
do

....

J.

& D.
Dec.
J. & J.
J. & J.
J. & J.
F. & A.
M. & N.
M. & N.
•

A.
J.
J.
A.
J.
J.
J.
J.
F.

•

New York, 4th Nat. Bk.
do
do
New York and Boston.

Boston, by Treasurer.
Boston, Merchants’ B’k.
New York, Park Bank.
New York.

do
New York, Office.

• •

&
&
&
&
&
&
&
&
&

O.

do
do
do
do
do
do
do
do

J.
J.
O.

J.
J.
J.
J.
A.

4

do
do
do
do

do
do
do
do

New York, Office.

June, 1907
Deo., 1907
July 1, 1901
Jan. 1, 1880
July 1, 1888
Aug. 15,1892
May, 1889

May 1, 1900
Oct.
Oct.

15,1879
15, 1879

July 1, 1905
1893

1884
1897
1894
1899

July 1, 1908
1898

Chicago Milivaukce d St. Paul—In February, 1880, the following was
officially reported as the mileage owned and operated by this company,
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;
Milwaukee to Prairie du Chien, 194 miles; Milton to Monroe, 43

miles; North McGregor to St. Paul, 212 miles; Conover to De¬
corah, 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
Michigan Southern Railroad.
Portage, .98 miles; Mad¬
ison to Portage, 39 miles, Sparta to Melvina, 12 miles; Lisbon to
Necedah,
Chicago Cincinnati d Louisville.—Tern, Ind., to La Porte, Ind., 71 13 miles; Wabasha to Zumbrota, 59
miles; Horiconto Berlin and Win.miles. Opened in 1858. It. is a reorganization of the Cincinnati Peru
neconne, 57 miles; Ripon to Oshkosh, 20 miles; Sabula to Cedar Rapids,
A Chicago, and forms a part of the lme from Indianapolis to Michigan
92 miles; Paralta to Farley, 44 miles; Racine to Rock
Island, 197 Holes;
City. No information is furnished by the officers.
Eagle to Elkhom, 17 miles, and Eldridge to Maquoketa, 32 miles. The
Milwaukee & St. Paul Railroad Company was organized May 5,1863,
Chicago Clinton Dubuque d Minnesota.—-Clinton, Iowa, to La Crescent,
Minn., 165, and Turkey River to Wadena, 43—total, 208 miles. Con¬ and embraced a number of other companies, including the Milwaukee &
solidation (February 28, 1878) of the Chicago Clinton & Dubuque and Miss., the Prairie du Chien, the Lacrosse & Milwaukee, and others.
the Chicago Dubuque & Minnesota. Both lines had been through the The Milwaukee & St. Paul afterward purchased the St. Paul & Chicago
courts for default, and at date of union were in the hands of trustees. Road and others, and built the line from Milwaukee to Chicago, and on
Feb. 11, ’74, the company took its present name. In the year ’79 the
Cross earnings in 1878-9, $451,202; net earnings, $110,523; interest,
pro¬
;
$27,171, and dividend (March 15, 1879), 2 per cent, $120,060. Capital cess of purchase and extension went on with much activity, and in Feb.
stock (July 1, 1879), $6,151,440; fundedT debt, $400,000, and income ‘80, the mileage, as above, was 2,251, against 1,512 on 1st of Jan., 1879.
.account, $78,879 — total liabilities, $6,630,319. Cost of road, &e., The extensions and new lines in 1879 are described as follows by the Rail¬
-$6,448,417, and assets to balance, $181,902. (V. 27, p. 331; V. 28, p. road Gazette: In Wisconsin, the Viroqua Branch was completed by an.extension from Melvina, Wis., southward 21 miles to Viroqua, making it 33
458, 301; V. 30, p. 191.)
miles long from its junction with the La Crosse Division at Sparta. It was
Chicago Detroit d Canada Grand Junction.—Tort Huron, Mich., to opened through Sept. 1.
In Minnesota, the Short-Line, extending
^Detroit, Mich., 59 miles. Opened in 1859. Leased to Grand Trunk of from St. Paul to Minneapolis, 9 miles, on which track-laying was com¬
•Canada. Operations, expenses, &c., included in lessees’ returns. Rental- pleted early in December. The
Hastings & Dakota Division was ex¬
interest, quarterly, $65,700, and dividends, semi-annually, each 2 per tended from Montevideo west by north 44*2 miles to
Ortonville, Big
•cent, $43,800. Capital stock, $1,095,000, and funded debt, $1,095,000; Stone Lake, on the western border of the State,
making the whole
:total liabilities (representing cost of property), $2,190,000. The road is division 202 miles long, from the
Mississippi at Hastings westward
the absolute property of the lessees, but a separate organization is main- entirely across the State. A branch of this division 1 mile
long, from
talned in Michigan.
Vermillion to Bridgeport, was also completed in the year. In Dakota,
the Iowa & Dakota Division was extended from the 1878 terminus at
Chicago d■ Eastern Illinois.—Dolton, Ill., to Danville, Ill., 107*2 miles,
.mid Bismark, Ill., to Coal Fields, Ind., 24 miles; total, 131*2 miles. Patterson, Iowa, west 62 miles to Marion Junction, Dak., and thence
southwest 71 miles to the Missouri River at Niobrara, making the whole
Holton to Chicago (20*2 miles) is made over the Pittsburg Cincinnati &
division 358 miles long from its junction with the Iowa & Minnesota
fit. Louis Railway. Chartered as Chicago Danville & Vincennes in 1865
Division at Calmar, and completing a line from Milwaukee westward
and opened in 1872 and 1873. Sold under foreclosure February 7,1877,
595 miles. Of the extension 24 miles are in Iowa. A branch of this line
and reorganized under existing style September 1,1877. Gross earn¬
from Rock Valley to Yorktown, Dak., was nearly all graded at the close
ings in 1878-79, $831,899; net earnings, $302,396. Payments—taxes, of 1879. In
February, 1880, the Hastings & Dakota Railroad was also
i
$10,744; leases, $61,452; interest on bonds, $161,100; rent of real
estate, $7,319; and interest and exchange, $13,607; total, $254,223. reported as purchased, and that negotiations were pending for the
Surplus, $48,173. Capital stock, September 1, 1879, $333,054; mort- Chicago & Pacific. Also that control was obtained of the Sioux City &'
Dakota. The Western Union Railroad was leased in 1879 for 999 years,
gage, $3,000,000; income bonds, $714,329; bills payable, &c., $209,862; and the bonds were to be
retired by the issue of the Chicago Milwaukee &
accounts, $78,139; and income balance, $98,660; total liabilities, St. Paul bonds secured
by mortgage on that road. Of the consolidated
$4,434,045. Per contra—Cost of road and equipment, $4,030,854;
mortgage bonds on hand, $310,000, and sundry accounts and balances, mortgage bonds of 1875, enough are reserved to take up the prior bonds,
and any of the holders of those bonds (except the Iowa & Dakota
-$93,191; total property, Ac., $4,434,045. Anew line from Dolton into
division) may exchange them for the consol, bonds. The latter have a
Chicago is being built by the Chicago & Western Indiana Railroad Co.,
.and has been leased to this company. The company have also taken a sinking fund of 1 per cent per annum. The annual report for 1879 has
not
been issued, but the following brief abstract of the year’s busi¬
perpetual lease of the Evansville Terre Haute & Chicago Railroad, at 6 ness yetofficial:
is
per cent on bonds, $75,000 per year. (V. 28, p. 113, 327; V. 29, p. 146,
1879.
1878.
-488; V. 30, p. 91, 221.)
Gross earnings
$10,012,820
$8,451,767
Chicago d Iowa.—Aurora, HI., to Foreston, HI., 80 miles, and Chicago Expenses (54*66 per cent)
5,473,795
4,792,313
Hockford & Northern Railroad (leased), 27; total operated, 107 miles.
Net earnings
-Chartered in 1869 and opened in 1872. In hands of a receiver for two
■..
$4,539,025
$3,659,454
.years and a-half, and sold March 9,1878, in foreclosure of second mort¬ Interest received...;
69,067
13,430
gage of $1,150,000, and a resale ordered.
Compromise effected, and
Total
-coupon of July, 1878, paid July, 1879. Net earnings under receiver (29
$4,608,092
$3,672,884
months), $781,913—$323,950 per annum. Balance after all payments, Dividends, 3*2 per cent on pre¬
ferred and 2*2 on common
:$63,004. Interest liability, $140,000 a year. Capital stock, $1,328,000,
stock
.and funded debt, $1,750,000; total stock and bonds, $3,078,000. Cost
$814,888
of road and equipment, $3,158,000. This road is used
2,287,408
by the Chicago Interest on bonds
Burlington & Quincy to connect with the Illinois Central. (V. 30, p. 168.) Sinking fund
70,000— 3,172,296
•

.

.

Net surplus....
Chicago Iowa d Nebraska.—Clinton, la., to Cedar Rapids, la. (all steel),
$1,435,796
Chartered in 1853 and opened in 1858. Bridge over Missis- An abstract of the last annual report issued was published in the
.sippi opened 1856. Leased to Galena & Chicago Union at 37*2 per cent Chronicle, V. 28, p. 398. The following table shows the mileage, earn¬
•of gross earnings, and now operated by Chicago & Northwestern; the ings, capital account, &c., for nine years past:
maximum rental by subsequent agreement not to exceed $500,000 a
Gross
1
Net
Stock and
Div. paid,
Total
Interest liability, $47,383, and dividends (10 per cent),$391,620; Years. Miles.
vear.
Earnings. Earnings.
Assets.
Bonds.
Pref.'Com.
total fixed charges, $439,003 a year. Capital stock, $3,916,200; funded 1871..
1,018 $6,690,696 $2,840,341 $40,800,554 $43,182,363 7
7s.
debt, $676,000; interest and dividend balances, $9,592, and surplus 1872.. 1,283 6,957,771 2,262,155 48,210,354 50,910,158 7
account, $341,894; total, $4,943,686. Per contra—Construction, $4,662,- 1873.. 1,399 9,946,124 2,451,563 53,335,244 58,494,610 7
123, and cash and cash assets, $281,563; total, $4,943,686. The first 1874.. 1,399 8,953,017 3,081,901 54,793,354
58,330,608 7bd. ..
mortgage has been satisfied and canceled as of record.
1875.. 1,400 8,255,744 3,085,390 54,802,744 58,525,537
1876.. 1,400 8,054,171 3,100,847 57,684,244 59,757,192 *
Chicago & Lake Huron.—From Port Huron, Mich., to Flint, Mich., 1877.. 1,413 8,114,894 3,574,461 57,638,244 60,562,205 3*2
66 miles; and Lansing, Mich., to Valparaiso, Ind., 166 miles; total, 232 1878..
1,512 8,451,767 3,659,454 59,772,244 63,083,911 10»2
miles. This was a consolidation of the Peninsula Railroads of
Michigan 1879.-2,25110,012,820 4,539,025
2*a
7
and Indiana and the Port Huron & Lake Michigan.
Port Huron
*
Division sold June 22,1879. Western Division, Lansing to Valparaiso,
3*2 and 14 bonds.
sold August 25. Purchased in the interest of the Grand Trunk of
—(V. 28, p. 97,120, 148, 301, 378, 398, 428, 453, 502, 503, 543, 580,
Canada, and reorganized as Ihe Grand Trunk Northwestern.
(V. 28, p. 624; V. 29, p. 95, 170,197, 251, 328,356, 433, 511,602, 631, 657; V. 30,

•82 miles.

..

..

..

X7, 120, 223, 302, 641; V. 29, p. 146, 225.)




p.

116,144,191.)

Subscribers will confer a

great favor by giving

explanation of column headings, &c., see
on first page of tables.

Date
Size, or
Miles
Par
of
of
Road. Bonds Value.

notes

Chicago Milwaukee & St. Paul—(Continued)—
2d mortgage (Prairie du Chien)
Coupon
Milwaukee & Western
but may
St. P.& C.lst M.(Riv.Div.) $ & £(conv.) >be reg.by
1st mortgage, Hastings & Dakota
endorselst mortgage, Chicago & Mil. line
ment.
Bonds for Davenport & Northwest RR
Bonds on Western Union RR. 1st M

235

’

130
75

85
160
212

187-263945.,

Mortg.

Madison extension, 1st mort.,

1872

126
85
25
120

sinking fund, gold.

m

m

1859
1862
1859

1862
1853
1863
1863
1865
1871

m

®

1,000
1,000
100
100
100 &c.
100 &c.
100 &c.
500 &c.
500 &c.

1,000
1,000
1,000
1,000
1,000
500 &c.

1,000

■

Chicago & Northwestern—In February, 1880, the total miles operated
were 2,389.
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

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
and Extension, 227 miles;

absorbed the Dixon Rockford & Kenosha, the Galena
the Peninsula Railroad of Michigan. In 1878 the
& 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.
An abstract of the last annual report was pub¬
lished in the Chronicle, V. 29, p. 169, showing the following income
1864 the company

& Chicago Union and
Lacrosse Trempeleau

account:

earnings of the Chicago &

Northwestern Railway

$13,420,605
313,868— 6,603,794

of proprietary lines* were

(4687100 percent).

$6,289,925

Taxes

$6,816,811

Add amount
Net

received, balance of interest and

exchange....

receipts

Deduct int. on bonds and prem. on gold coupons.$2,318,458
Rent of Chicago Iowa & Nebraska Railroad
Rent of Cedar Rapids & Mo. River Railroad
706,567
Rent of Maple River Railroad

Net income.

$6,837,823

1,160,315

Proprietary roads—^Gross earnings
Less for

21,012

495,104
24,060
83,120— 3,627,310
$3,210,513

Sinking fimds

$4,370,829

operating expenses, taxes, interest

and sinking fund

2,083,201
$2,287,627

Combined net profits

to the credit of income on the 31st
dividends on common and preferred

The net sum of $4,342,772 remained
of May, 1879, after deducting the

stocks declared June 3,
The company

1879.

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 lauds on hand May 31, 1879, and the

general condition of the department are
Deeded

shown in the following:
Lands not

Remaining Total of out-

during the unconveyed,
May 31,’78.
year.
May 31,1879.

Name of

grant.

On hand

standing

contracts,
Acres.

7
7 g.
7
7
5
6
3

4,000,000
172,000
2,500,000

3,000,000
1,000

..

and leased roads, exclusive
The operating expenses were

7*3

234,000

Chicago & Milwaukee, 1st mortgage, 2d lien
1876
Menominee River, 1st mort., guar..
500 &c.
1871
Menominee extension, 1st mortgage, gold
500 &c.
1872
Gen. cons mort., gold, coup, orreg. ($48,000,000) 1,058
137 1870-1
1,000
Winona & St. Peter, 1st mort., guar by Chic.&NW.
137 1871-1
1,000
do
do
do
2d mort.,
100 &c.
1871
175
do
1st M. exten, gld, land gr., s. f.
1870
1,000
75
Iowa Midland, 1st mort., guar, by Chic. & N. W..
500 &c.
1872
62
Northwestern Union, 1st mortgage, gold
24
1878
Minnesota Valley, 1st mortgage
24
1878
Rochester &No. Minnesota, 1st mortgage
1878
15
^
Plain View Railroad, 1st mortgage
1879
1,000
Sinking fund bonds of 1879 (for $15,000,000)....
88
Chicago & Pacific—Bonds (pledged)
1.000
156
1873
Chicago <& Paducah— 1st mortgage

The gross

Rate per
Cent.

$1,315,000

-

9

Outstanding

1,000

1873
1879
1879
m

Amoimt

$1,000

1868
1861
1872

2,154

Chicago <6 Northwestern-Common stock
2,154
Preferred st’ck (7 p. c. y’rly, not cumulative)
193
Bonds, pref. (sink’g fund), 1st mort., Chic, to Osh.
193
Interest bonds, funded coup., 2d in., Chic, to Osh.
193
1st mort., general, 3d mort., Chic, to Oshkosh—
23
Appleton exten., 1st mort. on 23 miles and land..
26
Green Bay exten., 1st mort. on 26 miles and land
248
1st mort., Galena & Chicago Un. RR. extended...
Mississippi River Bridge b’ds, lien on net earnings
74
1st mort. (Peninsular RR.) on roads and lands...
46
1st mortgage (Beloit & Madison Railroad)
779
Consol, sink’g f d

discovered In tbese Tables.
Bonds—Princi¬

Immediate notice of any error

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

23

STOCKS AND BONDS.

KAILROAD

1880.]

March,

deeded or

contracted

toAcres.
be sold.

4,000,000
14,988,807
21,525,602
972,200
676,400

1%
7
7
7
7
7
7
7
7
7
7
7 g.
7
7
7 g.
7 g.
7

3,440.400
116,000
180,000

1,638,000
158,000
272,000
247,000

5,198,000
3,150,000
1,700,000
400,000
2,700,000
12,343,000
2,750,000

*

7

1,650,000
4,313,000
1,350,000
3,500,000
150,000

Zg.
7 g.
7
7
7
6

200,000
100,000

2,400,000
1,357,000
2,961,000

•

•

•

7

When

Where

Payable, and by
Whom.

Payable

New York, Office.
A.
do
do
J.
J. London and New York.
New York, Office.
J.
do
do
J.
do
do
J. & J. N.Y., Mil. & St.Paul RR.
J. & D. New York, Co .’s Office.
do
do
Q.-M.
do
do
F. & A.

&
&
&
&
&

F.
J.
J.
J.
J.
i

m

M.
F.
F.
F.
F.
J.
M.
J.

m

m

I

pal,When Due.
Stocks—last
DividendL

1893

1891

Jan., 1902
1902
1903

1919

m

&
&
&
&
&
&

A.
A.
A.
J.
S.
J.

do
do

do

,

do
do
do
do
do
do

Q.-F.

A. & 0.
J. & J.
J. & J.
J. & D.
J. & D.
J. & J.
M. & N.
J. & D.
A. & 0.
M. & S.
A. & O.
M. & S.
M. & S.
A. & 0.

do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

do

& N.
& A.

do
do

do
do
do
do
do

do

do

do
do
do
do
do
do

do

do

do
do
-

do
do

July 1, 1909
Dec. 26, 187*
Mar. 29,1880

Aug. 1, 1885
Nov. 1, 1883
Aug. 1, 1885
Aug. 1, 1885
Aug. 1, 1885
Feb. 1, 1882
Jan.

1. 1884

Sept. 1, 1898
Jan., 1888
Feb. 1, 1915
April 1, 1911.
July 1, 1898
July 1, 1906June 1, 1911
Dec. 1, 1902
Jan. 1, 1887
Nov. 1, 1907
Dec. 1, 1910
Oct. 1, 1900
June 1, 191T
Oct. 1, 1908
Sept. 1, 1908
Sept. 1, 1908
Oct. 1, 1929

•

....

•

J.

July 1, 1903

& J.
1879.

Deduct interest on bonds,
rent leased roads

1878-

sinking funds and

$2,425,794
$2,473,567
$1,614,410
were equal to 7 per cent
$1,506,568
$2,516,531

Net profits six months
The net earnings for the 6 months
on the preferred stock
Add 6 45-100 on the common stock.. i

Total

Quarterly dividends were

966,990
$2,473,567

commenced on the preferred stock in Feb.,

deposit of mort¬
the rate of $15,000 per mile,
in V. 29, p.
277, sets forth that this comp.my “has entered into articles of agree¬
ment, duly executed, with the Chicago & Dakota Railway Company, a
corporation of the State of Minnesota; the Dakota Central Railway*
Company, a corporation of the Territory of Dakota; and with the Iowa
Midland Railway Company, a corporation of the State of Iowa, by which
said first party has agreed to assume and pay the whole cost of the con¬
struction and equipment of the line of said Chicago <fc Dakota Railway
Company, from a connection with the line of said Winona & St. Peter
Railroad Company at Tracy, westerly to the western boundary line of
said State of Minnesota, a distance of about 46 miles; also of the line of
said Dakota Central Railway Company, from a connection with said
last-named line, at said State line, westerly to the James River Valley in
Dakota, a distance of about 88 miles ;”****“ also of
an
extension of the line of said Iowa Midland Railway in Iowa,
from the present western terminus thereof, in a westerly direction,
a
distance of about 26 miles.”
For which purpose this company
issues its “sinking fund bonds of 1879, amounting in the aggre¬
gate to a sum not exceeding fifteen millions of dollars, all of
which are to run fifty years from the 1st day of October, A. D.
1879, and to bear interest not exceeding 6 per centum per annum,
and to be issued in amounts not exceeding fifteen thousand dollars per
mile of railroad for each and every mile of additional railroad, as tha
same shall be actually constructed or acquired; two million four hun¬
dred thousand dollars of which are to be issued for the purpose of en¬
abling it to execute its several contracts above referred to, with the
several railway companies hereinbefore mentioned, 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 fifteen millions of dollars 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 for the sole use and benefit of
said first party, and not to exceed in amount fifteen thousand dollars
per mile of road so built or acquired and ready for operation; the pay¬
ment of principal and interest of all said bonds to be secured by an?
equal amount of first mortgage bonds, duly issued for such additional
railroad and equipment by the several railroad and railway companies,
whose lines are so built or acquired, all of which first mortgage bonds
shall be deposited with the said party of the second part, and made
subject to the lien created by these presents.”
(V. 27, p, 140, 170,
372, 426, 603, 628; V. 29, p. 119, 168, 197, 225, 277,357,408,608,
1879. The sinking fund bonds of 1879 are secured by a
gage bonds, on the new roads acquired, at
and the deed under which these are issued, as published

656.)

Chicago & Pacific.—Chicago to

Byron, Ill., 88 miles. Went

into receiv¬

1, 1879. It
Milwaukee <fc St. Paul will get control of it.
Minn’ta .1,151,312-38
8,752-92 1,142,559*46 107,501*58 1,035,057*88
stockholders in Chicago the earnings and
Mich’n.
613,998*30 11,827*62
602,170*68 21,248*38 580,922*30 expenses for several years were reported as follows:
MenomiGross
Net
neeRiv.
94,216*18
480*00
93,736*18
93,736*18
Earnings.
Expenses.
Earnings.
Wiscon.
358,192*06 3,662*44
354,529*62 - 416*70 354,112*92
1879
$186,034
$151,144
$34,890
Total
2,217,718*92 24,722*98 2,192,995*94 129,166*66 2,063,829*28 1878
115,059
189,341
74,281
1877
178,897
135,592
43,297
The following table will show the total miles operated (including pro¬
1876
176,528
137,745
38,78a
prietary roads) the gross earnings, net earnings, surplus above annual 1875
116,567
74,269
42,29a
charges and dividends paid, in each fiscal year since 1871-2:
Surplus
The solicitor of the company reported: “ All the property of the com¬
Dividends
over
pany was on the 1st day or May, 1879, sold to a committee of bond¬
paid.
Net
interest,
holders for the sum of $916,100, subject to the right of the company to
Gross
Revenue.
rentals, &e. pref. com. redeem at any time within one year thereafter, and to the right of the
Years.
Earnings.
Mi^es.
7
judgment creditors to redeem for three months next following the expira¬
1,215 $11,402,161 $4,592,136 $2,618,325
(V. 30, p.
7
3^ tion of the twelve months given the company to redeem.”
1,868,628
4,848,475
13,775,555
1,706
Acres.

Acres.

Acres.

er’s hands May 27, 1876,
is reported that the*Chicago
At the annual meeting of

and sold in foreclosure May

.

.

.

For

ae

5,432,194
15,631,936
1,923
5,005,036
13,786,302
1,990
5,739,442
14,013,732
1,992
5,507,001
13,033,102
1,993
7,130,117
14,751,062
2,037
6,873,272
14,580,921
2,129
the half-year ending November 30,1879,

follows

:

earnings
i
Operating expenses and taxes

Gross

JTet earnings




1,355,082
518,267
1,179,719
1,078,227
2,464,488
2,287,627

168, 191.)

Paducah.—Streator, HI., to Effingham, HI., 156 miles, and
Similes; total, 164^ miles. Organized March
22,1872, and opened in 1874. Defaulted, and receiver appointed May28, 1877. Final decree in foreclosure January 21,1880, and ordered to
purchased by the Wabash, and
notice.
the income account was be sold after 60 days’Strawn &It is to beRailroad (95 miles), which was.
connected with the
Chicago
1878.
completed November 15,1879, and in the mean time is leased to Wabash,
1879.
$7,932,838 under order of the court. Gross earnings in 1877-78, $266,623; ndfc
$9,204,045
3,892,633 earnings, $27,967. Capital stock, $4,099,700, and funded debt, $2,961*'
4,213,945
000. Debt and interest fixed by court at $3,710,509. (V. 28, p. 617; V.
$4,040,204 29, p. 328; V. 30, p. 91,143.)
$4,990,099
Chicago <&

Shumway to Altamont,

24

RAILROAD

Subscribers will confer

a

DESCRIPTION.

STOCKS

2d

mortgage

d Southwestern— 1st
mortgage

Chicago Rock Island

d

Pacific—Stock

1st mortgage (for $12,500,000)
Chic. A Southw., 1st M.g. (g’d in coup, or reg
cur. by C.R.I.&P.)
Iowa South. A Missouri North. RR.
stock
Chic. St. Louisd N. 0.—1st M. (N. 0. J.
& G. N.)....
2d mortgage, (N. O. J. & G.
N.)
Funded coupon bonds
1st mortgage, (Miss. Central)
2d mortgage,
do
($500,000 disputed)
Chic. St. Louis A N. O. 1st mort.
(for $13,000,000)
do
do
2d mort. (for
$8,000,000)..

187-964532.

70
64

1871
1871

1877
1869

206
224

185
185

2d
do
1865
Consol, mort. (for
$3,000,000), sink, fund 1 p. c..
Cin. Ham. & I. (Junction)
RR., 1st mort., guar...
Cincinnati Lafayette d

Cwicvnnaii d Muskingum Valley—1st
mortgage—
Cin. Richmond d Chic.—1st mort.,
guar. C. H. AD..
2d mortgage, guar, and owned
by C. H. A D
Cin. Richmond d Ft. IF.—1st
mort., gold,
Cincinnati Rockpoi't d Southwestern—1st guar
Cincinnati Sandusky d Cleveland—Stock mortgage
Preferred stock

_

1188772-965-43.

500 Ac.
500 Ac.

1,600

500 Ac.
100 Ac.

1,000
1,000

100

....

1853
1865
1875
1873
1871
1874
1870
1866
1869
1871
1878

56
148
36
36
90
....

3 88

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
....

50

....

138

50

1

.

/

1,000
1,000

1869
60
60
60
60
98
56

Chicago—1st "mort., gold—

100 &c.

1854
1865
1877
1877
1878
1878

Jo

Consolidated mortgage

l,OOOAe

1856
1860

new

Cincinnati Hamilton d Dayton—Stock
1st mortgage of 1853

Chicago Pekin <6 Southwestern.—Pekin, Ill., to Mazin
Bridge, Ill., 94
Chartered in 1859 and opened in 1876.
Receiver
May, 1877. Sold under foreclosure June 30, 1879. Still appointed in
jn

miles.

receiver.

hands of

Gross

d

Pacific— Chicago, Ill., to Council Bluff’s, Iowa*
Harbor, Calumet River, Ac., 9 miles; Wilton*
Iowa, to Knoxville, Iowa, 128 miles; leased
roads—Peoria A Bureau
Valley, 47 miles; Indianola & Winterset
branches, 48 miles; Iowa
Southern A North Missouri
Railway, Washington,
worth, Kan., 271 miles; total operated, 1,003 miles. Iowa, to Leaven¬
The company also
leases the Keokuk A Des Moines
Railroad, 162
1880, the Kansas A Cameron line of Han. & St. miles, and in February,
Joseph. This company
includes by consolidation the
Mississippi & 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
500 miles; branches to

the main line was extended to Council
Bluffs June, 1869. The Iowa
Southern & Missouri Northern was
formerly the Chicago & Southwest¬
ern, and was foreclosed and purchased
by this
tually owns the road and pays to its own company, which vir¬
stockholders (Chicago
Rock Island & Pacific) 2 per cent
quarterly on that stock, which makes
their quarterly dividends
really amount to 2 *2 per cent, or 10 per cent
per annum. The fiscal year ends March
31, and the mileage, earnings,
Ac., have been as follows for eight years past:
Gross
Net
Div.
Years.
Miles.
Earnings.
Earnings.
p. ct.
612

674*2
674*2
674*2
677*4
707

$5,900,797
6,419,231
7,048,203
7,388,635

7,342,190
6,917,657
7,895,870
9.409,833

$2,950,534

•

2,901,448
3,171,314

8
8

8

3,532,305

8

3,687,029

8
8

3,384,463
1,003
8
3,511,356
1,231
7,895,870
8
The last annual report was published
in the Chronicle, V. 29,
company has a land grant, with about 300,000 acres unsold p. 15. The
March 31,
1879. In 1878-9, 21,348 acres were sold
for $183,454—an
average of
$8 59 per acre. (V. 28, p. 502 ; V. 29,
p. 15,489, 608, 631; V.
30, p. 221.)
Chicago St. Louis d New Orleans—New
Orleans, La., to Cairo, 111., 549
miles; branch: Kosciusko Junction, Miss., to
Kosciusko, Miss., 18 miles;
operated under lease, 5 miles; total, 572 miles.
This
formed November 8, 1877,
by the consolidation of the company was
New Orleans
Jackson A Gt. Northern and the Central
Mississippi. The N. O. J. & G. N.
road had been sold in foreclosure
March 17,1877, and the
Central was sold August 23, 1877.
Mississippi
This company has been
assisted by the Illinois Central, which
largely
holds 61,000 shares of the
stock,
$1,600,000 of the first mortgage bonds and
mortgage bonds. The stock will be increased $5,023,000 of the second
13,364 shares April, 1880.
Of the first mortgage
bonds,
are a prior lien on
that por¬
tion of the road in Tennessee. $1,199,000
Of the
Mississippi Central second mort¬
gage, $500,000 are claimed to have been
paid and are disputed by the
present company.
Earnings and expenses for two years past have been
as follows, viz.: Gross
earnings in 1877, $3,100,595, net
earnings, $8.87,667; in 1878, gross earnings,
$2,819,018, net earnings, $818,723. (V.
28, p. 277, 502; V. 29, p. 406; V. 30, p.
248.)
Chicago St. Paul d Minneapolis.—Elroy, Wis., to St. Croix
177 miles; and reaches St. Paul over
Lake, Wis.,
the St. Paul Stillwater A
Falls (leased), 24 miles.
Taylor’s
Chartered as West Wisconsin in
1863 and
opened in December, 1872. Defaulted
1, 1878; reorganization May 9, 1878. January 1, 1875; sold March
Gross
$1,070,203; net earnings, $375,908. Interest earnings in 1878-79,
liability, $302,590 per
annum.
Balance to credit after
interest, $73,318. Capital account,
October 1, 1879—Capital
stock, common,
$1,000,000; funded debt, $5,043,500; debt $4,000,000, and preferred,
certificates (based on West
Wisconsin land

contracts), $499,830, and floating debt,
$416,572; total
liabilities, $10,959,902. In March, 1880, some sort
of arrangement for
consolidation was made with the
Sioux City & St, Paul. Terms
not
transpired; (See under that
company.) Company’s lands free from
taxes until 1884. The first
mortgage is a second on
mortgage a second on road; but no foreclosure canthe lands; the land
be had except on
default on first mortgage. The lands
mortgaged are about
500,000

acres, and the total lands owned

considerably more. (V. 28, p. 502.)
Chicago d West 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 A
Michigan Lake Shore January 1, 1879, the C. & M.
L. S. having been
sold in foreclosure November
16, 1878.
The
Original company organized in 1869 and main stock is $6,500,000.
line opened in 1872.
Default July 1, 1873, and
receivership from November 11, 1876, to
date of reorganization.
Earnings in 1878, $538,022, and expenses,
$500,479; profits, $37,543; interest

miles.

Including




paid, $44,120.

(V. 27, p. 227, 538.)
to
leased lines, the Cincinnati Hamilton & Dayton, O., 60
Dayton system

Cincinnati Hamilton

d

Dayton.—Cincinnati, O.,

Cent.

8
8
2
6
7
2
8
8

20,980,000’
9,965,000
5,000,000
5,000,000
2,941,000
1,500,000
500,000
373,500

2,800,000
2,018,000
6,500,000
477,000
3,500,000
1,245,000
494,000

996,000
1,846,000

1,120,000
471,000
1,500,000
560,000
65,000

1.800,000
266,500
4,005,750
429,037

Q.-F.

A
A
A
A
A
A
M. A
J. A
J. A
J. A
J. A
J. A

7

g.
g.

g.
6 g.

10s.
3

S.
O.
N.
J.
O.
J.
S.
J.
J.
J.
J.
D.

Aug. 1, 1901
1891
Feb. 2, 1890

do
do
do

Q.-F.

M.
A.
M.
J.
A.
J.

T. Co.

York, Co.’s Office.

New

J. A J.
A. A O.
F. A A.
M. A N.
F. A A.
M. A N.
J. A D.
M. A N.
M. A N.

8
4
7
7

6 A
7
7
7
7
7
7
7

Y., Farm. L. A

J. A J.
M. A N.

7
8
7
6
3 g.
6 g.

JBonrfs—Princi¬

pal,When Due.
Where Payable, and
by Stocks—Last
Payable
Whom.
Dividend.
When

F. A A. N.
A. A 0.

....

1,997,000
3,057,000
7,253,000

New

do
do
do

July 1, 1917
Nov., 1890
Nov. 1, 1879

-

York, Co.’s Office.

do
do
do
do

July 1, 1886
Oct. 1, 1890
Aug. 1, 1885

do
do

do
do
do
do

do

Nov.,’80 A’84
Nov.
Nov.
Dec.

do
New York, at Office.
do
do

May 1, 1918
May. 1898

Bost., Treasurer’s office.
N. Y.,
Winslow, L. A Co.
do
do
do
do

Sept. 1889
April, 1873
May 1, 1880
July 20, 1885
Oct., 1905
Jan., 1903
Mch., 1901

do
do
do
do

N.Y., J.S.Kennedy A Co.

do
‘
do
New York, Moran Bros.
N. Y., Winslow, L.
A Co.
do
do
N. Y., Winslow, L. A Co.

Nov.

.

.

June, 1921
Jan. 1, 1908
1872
Nov. 1, 1879

Boston, Office.

.

M. A N.

do

1. 1914

Jan., 1901
July, 1895

....

.

1, 1886

1, 1897
1, 1907

do

has 341 miles; each lease
reported separately. Chartered in 1846
road opened in 1848.
and
Defaulted on guaranteed C. H. A
Ind. interest in
1877. Settlement
by arbitration made as per
Chronicle, V. 30, p. 116,
by which interest is to be paid hereafter
and past-due coupons are
funded into preferred stock

earnings in 1877-78, $243,423; net earnings, $93,399.
Capital stock (July 1,1878), common, $788,000, and 7
per cent pre¬
ferred, $38,000; funded debt, $1,000,000, and
floating debt, $262,984.
Construction and equipment,
$2,065,704. (V. 28, p. 41, 68, 199; Y. 29, Years.
p. 328; V. 30, p. 14.)
Chicago Rock Island

[Vol. XXX,

INTEREST OR DIVIDENDS.
Rate per

$700,000
300,000

....

180

on

■?

1,000

...

g.,coup.*

grant mort., income, coup. (2d

Outstanding

100

636
271

road)....

Chicago St.Paul dMinneapolis—1st mort.,
Land

Amount

$1,000

1,043

567
567
180

Chicago d West Michigan—Stock,
1st ‘mortgage, New~Buff. to St.

BONDS

great favor by giving immediate notice
of any error discovered
in these Tables.

Miles
Date Size, or
For explanation of column
headings, Ac., see notes of
of
Par
on first
page of tables.
Road. Bonds Value.

Chicago Pekin

AND

.

1874-75..
1875-76..

Gross

Net

Earnings.
$1,204,866
1,171,998

Earnings.
$495,373
479,203

1,128,355
521,770
1,147,753
470,176
946,921
312,749
936,433
374,468
907,211
369,350
Earnings for five years past were

Paym’ts from Net Eam’gs—, Balance
Taxes.
$48,878
56,440
55,873
53,044

1876-77..
1877-78..
1878-79..

operated:
Years.

'Vv.

earnings, $841,169.

207,544

36,707

191,450

follows, including all the roads

as

Miles.

Credit.

$21,504
248,333
307,334
254,702
78,209
118,925
141,163

162,430
185,640

48,900
47,999

Gross

Earnings.
$2,818,116

341
341
341
341
341

Gross earnings (all

Interest.

$144,990 ’
154,430
158,563

Net

2,875,774
2,431,874
2,362,892

2,282,572

lines, 341 miles)

for

Earnings.

$1,044,362
969,836
680,398
888,349
841,169

1878-79, $2,282,572;

net

Payments—Taxes, $101,598; interest, $447,030;
dividends (D. & M.), $134,869;
total, $683,497. Balance credit
$157,672. Capital account (April
income,
1,
$2,735,000; bills payable, $299,714; 1879)—Stock, $3,500,000; bonds,
current

balances, $304,371, and
surplus, $1,531,794; total liabilities,
$8,370,879. Per contra—Perma¬
property, $5,317,872; stocks and bonds,
$965,907; leases, Ac. (ad¬
vances), $1,599,500; other assets,
$312,667, and cash and cash items,
$174,933; total property and assets,
$8,370,879. (V. 28, p. 68, 302,525,
624; V. 29, p. 15, 197; V. 30, p.
116.)
nent

Cincinnati Lafayette d
56 miles. Consolidation in Chicago.—Kankakee, Ill., to Templeton, Ind.,
1871 of the Kankakee A
Indiana and the C.
L. & C. railroads, and
opened through August 25, 1872. Use
the Lako
Erie & Western between
and Lafayette
Templeton
the operative length
75 miles. Sold to receiver of the (19 miles), making
Cincinnati Lafay¬
ette & Chicago in
October, 1879. Gross earnings in

net earnings,
1877-78, $408,188;
$127,599, or, less lease
$132,860 a year; paid, $78,400. No rent, $108,399. Interest liability,
interest paid on second
bonds.
mortgage
Capital stock, July 1, 1878,
$1,861,000; funded debt, $1,898,000; common, $68,200, preferred,
floating debt, $300,000; total
(representing property), $4,059,000.

Cincinnati d

Muskingum Valley.—Morrow, O., to Dresden
Junction
Chartered as Ciun.
Wilmington A Zanes. in 1851 and
1857. Sold under foreclosure
opened in
October
ized as Cincinnati &
Zanesville March 11,1864. 19,1863, and reorgan¬
10,1869, and reorganized as at present. Leased Sold again December
for 99 years from.January 1,1873, to P. C. & St. Louis, lessees
to pay all expenses and inter¬
est, any excess of earnings to inure to
the lessors.
Gross earnings in
1878, $340,397; net earnings, $22,310.
Interest paid, $105,000. Loss
to lessees, $82,690.
O., 148 miles.

,

Capital stock, $3,997,320; funded
debt, $1,500,000,
floating debt (advances, Ac.), $579,753; total
liabilities, $6,077,073.
$5,540,164; assets and cash, $44,294; profit and
$492,665.
loss,
and

Cost of property,

Cincinnati Richmond d

Chicago.—Hamilton,

0.,to Indiana State Line,
& Miami Railroad
Eaton A Hamilton in 1847 (leased), 6; total, 42 miles. Char¬
and opened in 1863.
Reorganized*
May 3, 1866, and leased in
D. Co., the lessors to receive perpetuity from February, 1869, to C. H. A
all surplus after
expenses and bond interest.
Gross earnings in
1878-79, $188,448; traffic
36, and Richmond

tered

as

deficit, $9,738; interest
liability, $43,750 ; total deficit, $53,488.
Capital stock, $382,000 ; funded
debt, $625,000; total (cost of
property), $1,007,000.

(Y. 29, p. 15.) ,v
Cincinnati Richmond d Fort
Wayne.—Richmond Junction, Ind., to
Fort Wayne Junction, Ind., 83
miles. Uses about 7*2 miles of
connect¬
ing roads to reach Richmond & Fort
Wayne. Chartered in 1853 and
opened in 1866. Leased for 99
years to Grand Rapids &
terest is guaranteed by the lessees
Indiana; in¬
and by the
and Cincinnati Hamilton A
Pennsylvania Company
Dayton Company, jointly. Earnings
in 1878,
$304,511; net earnings, $88,748. Interest on first
mortgage bonds,
$127,302, and on advances of guarantors,
$27,842; total interest lia¬
bility, $155,144. Loss to guarantors, $66,395. Capital stock.
funded debt, $1,800,000; total stock
$2,500,000;
and debt
(representing
cost), $4,300,000. Total advanced
by guarantors, $505,636. property
The Cin¬
cinnati Hamilton &

Dayton Company is

m

default.

(V.

29, p. 299.)
Cincinnati Rockport d
Southwestern.—Rockport, Ind., to Jasper,
Ind., 40 miles. Chartered in 1871
and road opened in 1878.
Gross
earnings in 1878, $19,873;
operating expenses, $12,239, and net
earnings, $7,634. Capital stock,
$400,000; funded
other liabilities,
$47,219, and profit and loss, $79,740. debt, $266,500;
Total

liabilities,
$793,459. Construction and
equipment, $713,719; stocks, bonds and
other assets, $76,675, and cash and
cash items, $3,065. Total
and assets, $793,459. The
property
issue of bonds is limited to

$300,000.

Cincinnati Sandusky d
Cleveland.—Sanduskv, O., to Dayton, O., 154
miles, and Carey to Findlay, 16
Springfield AT Cincinnati (leased), 44miles; total, 170 miles. Columbus
miles. Of the Cincinnati
Sandusky

RAILROAD

March, 1880.J

Subscribers will confer a great favor by giving
DESCRIPTION.
For

Miles

on

first page

Date

of

explanation of column headings, &c., see notes

of

INTEREST OR DIVIDENDS.

or
par

Amount

Outstanding

Value.

15877-75469. 81
75869 81
Cincinnati Sandusky & Cleveland— (Continued)—
Mortgage bonds, Sandusky, Dayton & Cincinnati

Sandusky city & Ind
mortg. Cine., Sandusky & Cleve
do

2d

•

Cincinnati <£ Springfield—1st mortgage, guar
2d mortgage
;
Gin. Wab. <& Mich—1st mortgage.
Cleveland Columbus Cincinnati <£ Ind.—Stock

—

mortgage (C. C. & C. RR.) $25,000 a year
do
(Bel. & Ind.) exch. 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
1st mortgage, extended
New bonds
Niles & New

Lisbon, 1st mortgage
Cleveland Mi. Vernon c£* Del.—1st mortgage, gold—
1st

Cleveland <& Pittsburgh—Guaranteed

....

.

225
199
199

stock

mortgage (now 1st)
Consolidated sinking fund mort. for $5,000,000..
Construction and equipment bonds
Cleveland Tuscaraxoas Valley & Wheeling—1st m...
4th

Colebrookdale—1st mortgage
Colorado Central—1st mortgage, new
Columbia <£ Port Deposit— 1st

ioi

m

mortgage

.

Columbus Chicago & Indiana Central—Stock
1st M.
do
do
do
do

•

•

80
48
114
471
138
202
390
390
80
67
67
35
145

1st

mortgage, Columbus Extension
Income mortgage.

•

...

(consol.) Columbus, Chic. & Ind. Central..

Chic. & G’t East. (Chic, to Logansport)
Col. & Ind’polia Cent. (Col. to lnd’s & br.).
Union & Logansp’t (U’n City to Logansp’t)
Tol. Logansp’t & Burl. (Logansp. to Ill line)

18
78
39
588
588
117
208
93
61

100
500

....

1,000
1,000
1,000

50
500 &c.
500 &c.
500 &c

....

1873
1876
1870
1870
1871
1875

1,000
1,000

500 &c.
50

....

1862
1867
1873

1,000

1,000
1,000

1,000

mo®

1868

100 &C.

1879

1,000

,

.

ioo

.

1868

1,000
....

1864
1865
*

*

*

*

....

*

*

Earnings.
$787,671
791,891
655,421

Received.

112,284
110,236

...

655,300

Paid.

$70,024
71,186

Earnings.
$225,895
214,983
124,744

647,202

Years.

,—Lease Rentals.—s

.

$80,000
81,124

65,206
67,621

69,869

^

80,000
65,942
40,000

2,000,000
651,000
1,824,000
14,991,800
150,000
420,000
3,000,000
2,539,000
2,759,200
630,000

Available
Revenue.

$215,899

When

Cent.

Pay’ble

6
7
7
7
7
7 g.
2L>
7
7
7
7 or 6 g.

'

715,000

519,500

•

3*2

?s7
7 g.
7 g.
7

134
6
7
7
7
6

,7 g.

&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&

,

Cleveland, Ohio.
Phila., Co.’s Office.

J.

& D.

J.

Aug. 1, 1900
Sept. 1, 1897
Dec. 1, 1890
April 1, 1901
1902

July 1, 1891

Feb. 1, 1880
June,’75 to ’84

Until 1899

MayT 1899
June 1,1914
(1)

Aug. 1, ,1893
Sept., 1906
Jan., 1890
1900
1901
1905
1880
Jan., 1892 Nov. 1, 1900
Jan. 1, 1913

Jan. 1,
Jan. 1,
Jan. 1,
Mar. 1,

June 1, 1898

& D. Boston, Treas.’s Office.

Aug. 1, 1892

7
....

7
7
7
7
7

A. & 0.
Various
J. & J.
A. <fc O.
F. & A.

April, 1908
1893 & ’95

Nov., 1904
Dec., 1905
Feb., 1884

N. Y., A. Iselin & Co.
do
do

Pennsylvania*. Company (lessees),
lessees. Default was made July,
1874, and coupons due then and one-half of coupons from January 1,
1875, to and including July 1, 1877, were postponed to January 1,
1885, and the remaining half to be paid; but this failed July, 1877, and
negotiations are pending. Earnings for five years past were as follows:

This amount is demanded from the
but a readjustment is claimed by the

Gross

Years.

113,963
140,105

Springfield & Cincinnati Railroad Company (formerly $80,000 a year)
has been reduced one-half for three years. Preferred stock receives 6
per cent per annum. Capital stock—common, $4,605,750, and preferred,
$429,035; funded debt, $2,326,345; overdue coupons, $170,852;
accounts and balances, $226,260, and profit and loss, $35,582; total
liabilities, $7,195,826. Per contra: road and equipment ($36,594 per
mile), $6,221,026; stocks owned, $763,900; cash and cash assets, $210,900; total property and assets, $7,195,826. The yearly interest charge,
including sinking fund ($10,000) and preferred dividends, is $225,479.
Six coupons on 2d mortgage bonds were funded from June, 1877. The
preferred stock has a lien by deposit of old bonds in trust. The receiver,
after a three years’ possession of the property, was discharged January
1880.
(V. 28, p. 145; Y. 29, p. 197, 382, 406; V. 30, p. 144, 168,192.)

Stocks—Last
Dividend, f

Whom.

205,044

109,950

pal,When Due.

Payable and by

A.
Boston, Office.
do
do
S.
D. N. Y., Union Trust Co.
N. Y., U. S. Trust Co.
O.
do
do
J.
J.
Wabash, IndianaN. Y., U. S. Trust Co.
A.
do
do
J.
D.
do
do
J.
J.
do
do
N.
M.
J.
D. New York or London.
M.
N.
Cleveland, Office.
N. Y., Ward, C. & Co.
F.
A.
M.
S.
J. N. Y., Union Trust Co.
J.
J.
J. N.Y., Winslow, L. & Co.
do
do
do
do
M. & S.
Q.-M. N. Y., Farm. L. & T. Co.
do
do
J. & J.
do
do
M. & N.
do
do
J. & J.

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

Bonds—Princi -

in 1876, $63,533; in 1877,$81,725; in 1878, $64,971. Annual liabili¬
ties—Rental, $20,000, and bond, interest (7s, $2,300,000), $161,000.

The rental received from Cleveland Columbus Cincinnati & Indianapolis
Railroad is 35 per cent of gross earnings, and that paid to Columbus

.

Where

Rate per

500,000
1,350,000
950,000
669,000
11,244,036
1,104,844
2,651,000
1,298,000
2,180,000
600,000
2,526,000
1,603,000
13.938,972
10,478.000
224,000
2,632,000

*

Indianapolis. Operative length or Cincinnati Sandusky & Cleveland Rail¬
road, 190 miles.
Traffic Statistics.
Net
Gross

1,100,300

....

•

& Cleveland Railroad the division between Springfield & Dayton, 24
miles, is leased to and operated by the Cleveland Columbus Cincinnati &

/—

350,000

....

1,000
1,000
1,000

1860
1864
1869
1874

•

$750,000

.$v—

1866
1852
1867
1871
1872
1871

25

BONDS.

immediate notice of any error discovered in these Tables.
Size,

Road. Bonds

of tables.

AND

STOCKS

Miles.
157
157
157
157
157

Net

•

Earnings.

Earnings.

$426,027

$96,667

373,583
' 388,896
382,698

.

404,025

63,533
81,725
64,971
27,061

-(V. 28, p. 400.)
Cleveland <6 Pittsburg—Cleveland, O., to Rochester, Pa., 124, with
branches to New Philadelphia, 33, and to Bellaire, 43; total owned, 200
miles: add P. F. W. & C. RR. (leased), 26 miles; total operated line,
226 miles. The property was leased for 999 years from December 1,

transferred to Pennsyl¬
cent on existing capital and
lessees assuming all liabili¬
cent, but the old stook was
cent by an increase in amount.
past were as follows:

1871, to Pennsylvania Railroad Co., and lease

vania Company May 1,1872. Rental, 7 per
$10,000 per year for company expenses, the
ties. The terms of the lease were 10 per

subsequently converted into 7 per
Operations and earnings for five years
Freight (ton)
Gross
Net
Div.
^Passenger
Years.
Miles.
Earnings. Earnings, p.c.
Mileage.
Mileage.
Cincinnati <£ Springfield.—Dayton, O., to Ludlow Grove, O., 48, and C.
226
116,819,297 $2,629,037 $1,243,627
7
17,611,298
S. & C. RR., &c. (leased), 32; total, 80 miles. The whole is leased and
226
108,664,100
2,282,030
890,582 7
19,844,913
operated by Clev. Col. C. & Ind Co., giving them a line into Cincinnati,
226
133,991,706
2,330,834
1,039,172 7
15,640,607
and depot accommodation.
Lessees apply any excess over rentals to C.
226
2,272,167
966,112 7
143,114,623
14,853,524
& 8. interest, which is guaranteed on the first mortgage, one-half by the
1,342,858
7
226 •
2,609,593
lessees and one-half by Lake Shore & Michigan Southern. Gross earn¬
ings in 1877-78, $691,752; net earnings, $192,225.
Rentals paid, -(V. 28, p. 41, 300.)
Cleveland Tuscarawas Valley <£• Wheeling.—Black River, O., to Urichsbonds,, $185,570; deficit, $139,793.
Capital stock, $1,100,000; ville, Ohio, 101 miles. Chartered as Lake Shore & Tuscarawas Valley in
funded debt. $2,651,000, and C. C. C. & I. advances, $1,341,882 ; total 1870 and opened in 1873. Sold under foreclosure January 26,1875,
liabilities, $5,092,882. Cost of property (stock and bonds), $3,751,000.
and reorganized under present title. Is being extended to Wheeling,
57 miles. Gross earnings in 1878, $474,525; net earnings, $114,462.
Cincinnati Wabash <& Michigan.—Goshen, Ind., to Anderson, Ind., 110
Interest liability, $244,850 per annum.
Capital stock, $1,955,950;
miles. Consolidation June 18,1871, of the Warsaw Goshen & White
funded debt, $3,495,000; bills payable, $103,142; and miscellaneous,
Pigeon and the Grand Rapids Wabash & Cincinnati railroad compa¬
nies. Road, as now existing, opened in May, 1876. Transferred to
4,586,615; Wheeling extension, $132,065; cash and cash assets. $41,trustees January 1,1878, ana sold November 5,1879, to said trustees,
for account of bondholders. Capital stock (before sale), $1,450,000, and 572; and income balance, $40,889; total property and assets, $4,801,141.
7 per cent bonds, due July 1, 1891, $2,000,000. Cost of road, &c.
($31,077 per mile), $3,418,500. Floating debts sunk on sale. (V. 29,
Colebrookedale.—Pottstown, Pa., to Barto, Pa., 13 miles. Chartered in
p. 382.)
1865 and opened in 1869. Leased for 20 years from January 1,1870,
to Philadelphia & Reading, at 30 per cent of gross earnings. Gross
Cleveland Columbus Cincinnati <£- Indianapolis.—Cleveland, Ohio, to
Columbus, Ohio, 138 miles; Galion, Ohio, to Indianapolis, Ind., 203 earnings in 1878, $26,265; net earnings (30 per cent rental), $7,888.
Payments—interest, $36,000, and other, $305. Capital stock, $297,215;
miles; Delaware, Ohio, to Springfield, Ohio, 50 miles; leased, Cincin¬ funded debt, $600,000,
and floating debt, $28,872; total liabilities,
nati & Springfield Railroad, 80 miles; total owned and leased, 471 miles.
This was a consolidation in April, 1868, embracing the C. C. & C. and the $926,087. Construction ($52,146 per mile), $667,471, and profit and
Bellefontaine railroads. The company paid dividends prior to 1875, but loss, $258,616.
since then the large decline in rates for through freight and the heavy
Colorado Central.- Golden, Col., to Cheyenne, Wy., 118 miles, and
rentals paid reduced the company’s income so that no further dividends Golden to‘Denvei\£9.5 miles; total (standard gauge), 133 miles; and
were paid until 1880.
The last annual report Was published in the Golden to Central City, 24*4 miles, and to Georgetown, 35 miles; total
Chronicle,V. 28, p. 301. Operations and earnings for five years past 3-foot gauge, 59*4 miles. Aggregate, 192*4 miles. Chartered in 1865,
were as follows, the net earnings not excluding taxes:
and main line opened in 1870. It is owned by the Union Pacific, and has
Gross
Net.
recently (January, 1880) been consolidated therewith. Capital stock
Freight (ton)
Passenger
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings. was $3,971,300. The new mortgage bond was issued to take up the
472
1875
263,311,981
30,497,320
$3,774,217 $894,024 old 8 per cent bonds. (V. 28, p. 269; V. 30, p. 168.)
-

f146,448. Excess toward interest, $45,777. Interest liability on C. &
.

t147,049; total liabilities, $4,801,141. Per contra—Construction,
.

-

..

472
1876
1877
..,472
472
1878
1879......... 472
..

36,042,780
29,066,177

311,785,948
275,686,300

29,470,300

345,845,373

3,676,458
3,434,356
3,528,714

702,918
488,779
847,900

3,758,967

1,066,660

Columbia <& Port Deposit.—Columbia, Pa., to Port Deposit,
miles. Leased to and operated by Pennsylvania Railroad Co.

Md., 39
Rental,

earnings. Gross earnings, 1878, $36,174; operating expenses,
$22,210, and net earnings, paid to lessors, $13,964. Capital stock,
$208,177; funded debt, $1,603,000, and floating debt, $449,732; total
Cleveland <& Mahoning Valley. -Cleveland, Ohio, to Pennsylvania State liabilities, $2,260,899. Cost of property, $1,702,335.
Line, 123 miles. Cnartered in 1848 and opened in 1851. Leased to
Columbus Chicago & Indiana Central.—Columbus, O., to Indianapolis,
Atlantic & Great Western in perpetuity from October 1, 1861. The
Ind., 187 miles; Bradford, O., to Chicago* Ill., 230miles; Richmond,
receiver of the Atlantic & Great Western refused to operate part (43
miles) of the leased road, and at the present time only SOjniles are in liis Ind., to Anoka, Junction, Ind., 102 miles; Peoria Junction, Ind., to Illin¬
ois State Line, 60 miles; total, 580 miles. This company was formed
hands. Payments on lease account in 1878, $274,372; distributed to
bonds 7 per cent and to stock 8 per cent, through the intervention of a February 12,1868, by consolidation of the Columbus & Indiana Central
and Chicago & Great Eastern railroad companies, and was leased to the
lease trust, having its headquarters in London. Stock, $2,758,791, and
Pittsburg Cincinnati & St. Louis Railway Company February 1,1869,
bonds, $1,967,600.
..

..

net

—(V. 28, p. 301; V. 30, p. 248.)
-

Cleveland Mount Vernon <£ Delaware.—Hudson, Ohio, to Columbus,

Ohio, 144 miles, and Massillon & Cleveland Railroad (leased), 12 miles;
total, 156 miles. Openod to Millersburg from Hudson (61 miles) in 1853.
This road has undergone several transfers. In 1869 it was sold to Pitts¬
burg Mount Vernon Columbus & London, already open 65 miles, and in
the

same

assumed by the united roads. It was
Net earnings in the five
in 1874, $135,945; in 1875, $96,667;

year the present title was

completed in its present proportions in 1873.
years




ending December 31,1878;

by whom it was operated during the last two years, under direction of the
if. S. Circuit Court, for account of Receivers of the C. C. & I. C. Ry.
Co. The lease stipulates that the lessees shall maintain the road and
equipment, operate it, and pay over to the lessors 30 per cent of the
gross earnings. Also, that the rental shall 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 aro to be

RAILROAD STOCKS

26
Subscribers will confer

a

AND

BONDS.

[VOL. XXX.

great favor by giving immediate notice of any error discovered in tltese Tables.

DESCRIPTION.
For explanation of column headings, &c., see notes
on first page of tables.

INTEREST OR DIVIDENDS.

Miles Date Size, or
Par
of
of
Road. Bonds Value.

Amount

Outstanding

Rate per
Cent. ■

When

Where Payable, and by

■Whom.

Payable

5778811

.

m

m

13

89
45
118
55
55
141
71
41

.

.

.

146
110

*

Connecticut Valley—1st mortgage
Connecticut Western—1st mortgage

38
38
56
44
68
7

Connecting (Phila.)—1st mortgage
Coming Cowanesque dk Antrim—1st mortgage
Cumberland <6 Pennsylvania—1st mortgage
2d mortgage, sinking fund, (guaranteed)...:

64
38
38

11887744--65956..
9

1,500.000

50
500 &c.

1867
1870
1872
1871
1875

1,000
1,000
1,000

1,000
50

1,000
50
■

100

1875

div. as Conn. A Pass.
Conn. A Pass

23,200

4,597,000
57,545

....

89
76

Concord—Stock

do

m

1873
1871
..

1869

1,000
100

1871
1870

1,000
•

•

•

....

1866

1868

1,000,000
2,416,000
1,786,200
302,000
1,500,000
500,000
350,000
262,500
2,175,500
1,272,000
123,000
400,000

400,000
2,100,000
1,000,000

500 &e.
•

1,000
1,000

-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 tne $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. In

the suit between lessor and lessee, Judge Harlan decided the debt must
be reduced to the limit—(See bondholders’ report, V. 29, p. 656.) Pur¬
suant to this decision, the debt was substantially reduced as required,
and the final decision of Justice Harlan in January, 1880, embraced the

3,200,000
996,000
500,000
803,500

594,000

$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,
leaving the net amount due to the Columbus Chicago A Indiana Central
$2,769,574 90, save as of tenants accepted, and the trustees are entitled
to receive 6 per cent interest thereon from January 1,1880. till paid, but
none before that date; that unless the amount is paid within sixty days
from date the trustees to have execution against the Panhandle and
Pernsylvania 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. Fosdick, 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 year,
then the deficiency shall be made good by the lessee. The property in
Chicago held by the Columbus Chicago & Indiana Central Road, with the
exception of three small lots, is necessary for the use of the railroad,
mid one part of the property is to be leased to the Panhandle Company.
The lessee is entitled to receive from the Columbus Chicago & Indiana
Central,

its claim for betterments, income bonds to the amount of

on

$660,000.” From this decision the Pennsylvania Railroad appealed to
the U. S. Supreme Court.
Operations and earnings for five years past were as follows:
Gross
Net
Freight (ton)
Passenger
Years.
Miles.
Mileage.
Earnings.
Mileage.
Earnings.
587
33,250,748
239,812,791 $3,619,653 $606,442
581
37,754,467
274,953,224
3,457,716
506,608
.

581
581

1879.

—(V. 27

p.

31,795,297

254,492,612

3,396,255

32,132,185

305,019,182

3,433,665

455,340
411,514

172, 199; V. 28, p. 43, 145, 172, 377, 453, 503; Y. 29, p.

146,169, 252, 433, 459, 656, >80; V. 30, p. 16,163.)

•

|

•

.

.

.

Nov., 1904

Y., A. Iselin A Co.

,

A.
Columbus, Office.
O. N. Y., St. Nich. Nat. B’k
J.
do
do
J.
do
>
do
S. N. Y., Union Trust Co.
New York.
A.
Columbus Treasury.
Q.-M.
i M.A S. N. Y., Am. Exch. N. B’k
M. & N. Boston, Tower, G. A Co.
A
A
&
A
A
F. A

5

1886 to ’90

Feb., 1890
N.

F.
A.
J.
J.
M.

4
7
7
7
7
7
2
7

Dec., 1883

Feb. 10, 1880

Oct.

1, 1897

July 1, 1880
1, 1892
Sept. 1, 1901
Aug. 1, 1905
Dec. 10, 1879
Sept. 1, 1890
Jan.

Nov. 1, 1879

....

3i«
7

l*fl
7
7

•

V*
W g.
4
7
7
6
7 g.
6
6

J. & J.
Jan. 1, 1880
Boston.
A. A O.
Oct., 1895
F. A A.
Feb. 2, 1880
Boston Office.
A. A 0.
do
April 1, 1893
Various
do
Jan. 1, 1881
F. A A.
do
J. A J.
do
My 1, 1889
J. A J. Boston, Bost.A Alb.RR. Jan. 1, 1880
J. A J. N. Y., Am. Exch. N. Bk. Jan. 1, 1901
J. A J.
N. Y., Met. N. Bank.
July 1, 1900
M. A 8.
1900-’l-’2-’3-’4
Philadelphia.

$eb. 2, 1880

....

M. A S. New York,
M. A N.
do

July 1, 1885.
Co.’s Office. March 1,1891
do
May 1, 1888

Columbus dk Xenia.—Columbus, O., to Xenia, O., 55 miles. Is operated
division of the Little Miami, and is leased for 99 years in connection
with that road to the Pittsburg Cincinnati A St. Louis, which pays 8 per
cent on stock and provides for the bonds. The lease is guaranteed by
the Pennsylvania Railroad Company.

Concord.—Concord, N. H., to Nashua, N. H., 35 miles. The company
also own the Manchester A North Weare (19 miles) and the Hookset
Branch (7 miles), and operate under lease the Concord & Portsmouth,
the Suncook Valley and the Nashua Acton A Boston. (An abstract of the
last annual report was given in the Chronicle, V. 28, p. 525.) Opera¬
tions and earnings for five years past were as follows:
142

Passenger
Mileage.
13,240,002

142
142
142

12,987,174
12,067,832
10,856,140

Miles.

10,580,508

i

Net
Gross
Div.
Earnings. Earnings, p. c.
21,926,106 $1,002^950 $310,004
10
950,358
293,298
20,008,402
10
19,111,714
871,528
294,761
10
21,634,669
771,171
340,454 10
733,004
318,847
10
21,609,056

Freight (ton)

Mileage.

—V. 28, p. 525.
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 1878-9, $145,718,
and operating expenditures, $96,918; net earnings, 48,800.
Capital

stock, $410,000, and bonds,

which

was

the cost

$500,000; total stock and bonds, $910,000,

to the consolidation.

Original cost of property,

$1,850,000.

Concord dk Portsmouth.—PortsmOuth,Vt., to Manchester,Vt., 40Lj miles.
The road was sold to first mortgage bondholders in 1857, and leased to
Concord Railroad in 1858. Lease rental is $25,000 a-year, which gives 7
per cent a year to present stockholders. There is no debt.
Connecticut Central.—East Hartford, Ct., to Massachusetts Line, 20

miles, with branch from Melrose to Rockville, 7 miles; and leases Springfield A New London, 8 miles; total, 35 miles. Completed in 1876. In
hands of trustees. Capital stock, $437,600; funded debt, $312,000; and
bills, overdue coupons, Ac., $28,953. (V. 30, p. 116.)
Connecticut d Passumpsic.—White River Junction to Canada Line, 110
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.
The new mortgage of $1,500,000 will retire previous issues. Operations
and earnings for five years past were as follows;
Years.

—(V. 29,

Columbus dk Hocking Valley.—Columbus, O., to Athens, O. (steel), 76

•

N. Y., A. Iselin A Co.
do
do
do
do
do
do

as a

following: “ That the Columbus Chicago A 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 Years.
entitled to

.

2,030,150
1,500,000
300,000
700,000

100
100 &c.
100 Ac.
100

A J.
Various
M. A N.
J. A J.
F. & A.
F. A A.
F. & A.
J.

7
7
7
7
7
7
7

120,000

_

'Concord dk Claremont—Bonds
Concord dk Portsm outn—Stock, guaranteed
Connecticut Central— 1st mortgage for $400,000...
-Connecticut <& Passumpsic—Stock
New mortgage (for $1,500,000)

Connecticut River—Stock

.

m

$309,500
113,000
821,000

1870

mortgage

guar, same
bonds, guar, by

$....

102
107
102
224
587

Columbus Springfield dk Cincinnati*—1st mort
Columbus dk Toledo—1st mortgage coupon, s. f
Columbus <6 Xenia—Stock

Notes, coupon
Massawippi st’k,

Stocks—Vmt
Dividend.

e

e

XJolumbns Chicago <£■ Indiana Cent.—(Continued)—
1st M. Col. & Ind. 1st & 2dpref.(Col. to U’n City)
do
Cinn. & Chic. Air Line(Richm’d to Logans.)
2d M. Col. A Ind’polis Cent. (Col. to Union City)..
do
Chic. & G’t East, construe. (Chic, to Rich’d)
do
Columbus, Chicago & Ind. Central
Income conv. do
do
do
Income (Toledo, Logansport A Burlington)
Union Trust Co. certificates
'Columbus dk Hocking Valley—Stock
let mortgage, sinking fund bonds
1st mortgage, Logan A Straitsville Branch.
2d mortgage bonds

1st

Bonds—Princi

pal,When Due.

p.

Miles.
147
147
' 147
147
147

Passenger
Mileage.

5,971,686
5,170,347
5,619,828
4,464,983
4,400,575
299, 301.)

Freight (ton)

Mileage.

7,826,758
6,805,104
7,618,721
8,179,341
8,574,443

Gross
Net
Div.
Earnings. Earnings, p.c.
3
$706,754 $224,110
240,955
637,554
..
604,596
244,311
558,612
222,590
3
524,945
200,497
3
..

Connecticut River.—Springfield, Mass., to South Vernon, Vt., 50 miles,
and branches,* 6 miles; total, 56 miles. Leases Ashiielot Railroad (24
miles) at about $14,000. Pays 8 per cent dividends on stock and has
paid off all the funded debt. (V. 29, p. 510.)
Connecticut Valley.—Hartford, Ct, to Fenwick, Ct., 46 miles. Opened
in 1871 and 1872. In hands of trustees of first mortgage for some time,
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,

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 1869. In 1878 nearly a million tons of coal were moved.
Oross earnings, $871,553, and expenses, $480,426; net earnings, $391,127. Dividends of 8 per cent have been paid for some years. The last
annual report was published in V. 28, p. 399, showing in the balance
sheet—stock, $2,030,150; funded debt, $2,500,000; bills, $69,697;
accounts, $23,833; and contingent, &c., accounts, $527,630; total p. 41. V. 30, p. 116, 144.)
liabilities, $5,151,310.
Construction, $3,301,748, and equipment,
Connecticut Wes tern.—Hartford, Conn., to New York State line, 68
^lt265,711. Operations and earnings for five years past were as miles. Chartered in 1868 and road completed in Deo., 1871. Gross
**

mows:

Years.
1875

X876

Miles.
89
89
100
105

Passenger
Mileage.

Freight (ton)

Gross

Net

Mileage.

Earnings.
$877,590

Earnings.
$358,376

841,139
820,899

386,834
357,755

871,553

391,127

45,853,513
3,151,140
3,228,815

3,093,965

47,572,017
55,860,504
63,317,069

—(V. 28,

p. 399.)
Columbus Springfield & Cincinnati.—Columbus, O., to Springfield, O.,
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 years. In 1878 the balance sheet showed: capital
4nook, $1,000,000; bonds, $1,000,000; unpaid coupons, $70,000; and
profit and loss, $59,428; total liabilities, $2,129,428. Construction,
$2JKK),000; rental account, $100,000; and other property and assets,

:$29,428.

Connecting (Philadelphia).—Mantua to Frankford, Pa., 7 miles. A

connecting link in Philadelphia to the West and South. Operated by
Pennsylvania Railroad Company. Rental, 6 per cent on cost. Capital
stock, $1,278,300; and funded debt, $991,000; total, $2,269,300.
Coming Cowanesque d Antrim.—Coming, N. Y., to Antrim, Pa., 53

miles, and Laurenceville and Elkolt, Pa., 11 miles; total,

64 miles.

Consolidation' (January, 1873) of the Petersburg A Corning and the
Wellsboro railroad cfttUpanies.
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, ana 12 per cent on preferred

$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.
stock,

»

Columbus d Toledo.—Columbus, O., to Walbridge, O., 118 miles—about
65 miles steel. Completed in 1877. The tracks of Northwestern Ohio"
,nre used for 5*» miles from Walbridge to Toledo.
Gross earnings (1878),
:$517,871, and expenses, $295,612. Net earnings, $222,259; lease
'rental paid Northwestern Ohio Railroad, $21,095; interest, $164,382.

'Capital stock is $897,107. There were bills out of $191,708, in the shape
«af lO-ynar notes for real estate. (Y. 28, p. 399.)




earnings in 1878, $227,704; net earnings, $58,159 ; less rental (N. D. A
C. RR., 2 miles), $5,834. Capital stock, $1,892,100.
Permanent prop¬
erty, $5,042,785. No bond interest has been paid since Jan. 1,1876.
Foreclosure suit begun in 1880. (V. 30, p. 192.)

;

Cumberland d Pennsylvania.—Cumberland, Md., to Piedmont, Md.,
with several branches, In all 55 miles, almost all steel rail. It is owned
and operated by Consolidation Coal Company, which guarantees second,

mortgage.

P’

$ab«crlbejra will confer a

great favor by giving

immediate notice of any error discovered
INTEREST OR

DESCRIPTION.
For

explanation of column headings,
on first page of tables.

&c., see note s

Miles Date Size, or
Par
of
of
Road. Bonds Value.

Amount

Outstanding

1579874-65.78118623-790.:
Cumberland Valley—Stock ($484,900 preferred)
1st
2d

mortgage..;

mortgage, sinking fund

•Common bonds

—

.

guaranteed

Danbury <t Norwalk—Stock
1st, 2a and 3d mortgages
Davenport <£* Northwestern—1st

.*

mortgage.
Dayton A Michigan—Com. stock (3% guar. C.H.&D.j
Preferred stock, (8 percent, guar. 0. H. & D.)
1st mortgage, sinking fund, $30,000 per year—
1

2d mortgage
3d mortgage

Toledo depot (cost $353,940) 1st and 2d mortgage
Dayton & Union—1st mortgage...
2d mortgage.
Income mortgage bonds.
Dayton dt Western—1st M., guar. L. M. and C. & X..
Delaware—Stock
Mortgage bonds, convertible, guar. P. W. <fc B

110
52
52
33
33
160
142

142

142
142
142

1,000
1,000
1,000

1871
1856
1867
1869

2,395,350
1,286,100
1,870,000
426,000
356,000
105,500
100,000
135,000

61&64 500 &c.

31

.

_

.

_

252,444

•

.

41
85
85

1,000

614,000

50

1865

1,430,216

1875

1,000
•

27

195
115
288

60
25
291
.

•

•

•

1875

50

•

1856
1877
1872

500 &c.

1859
1858
187C

Miles.
125
125
125
1878.......
125

m

m

m

1879

Mileage.

5,869,562 11,062,510

5,416,229 11,014,516

519,851
536,410
503,597

1,633,000

3,067,000
600,000
370,900
209,000

1,000

500 Ac.

1879

6,382,500
5,000,000

1880

Net

—Div.p.c.—v

Pref. Com.
10
10
12*3 12%
10
254,253 10
10
224,985 10
10
264,900 10

Earnings. Eam’gs.
7,163,054 9,730,205 $526,076 $249,042
7,314,649 10,531,250 547,994 289,351
Mileage.

750,000

1,500,000
1,500,000
26,200,000

100 Ac.
100 Ac.

a

several factory
Penn¬
sylvania Railroad Company. Net earnings, 1878, $214,514.
Large
advances have been made to branch roads. Operations and earnings for
Years.

1%

50
50

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
roads, in all about 43 miles. The stock is owned in large part by

past were as follows:
Passenger Freight (ton) Gross

2%

161,000
109,500
81,800
600*000
500,000
1,710,000

^

m

Rate per
Cent.

$1,777,850

$50

500 &c.
500 &c.
100 &e.
50
’60-’ 72 100 &c.

781

Delaware & Bound Brook— Stock, guaranteed
1st mortgage
Delaware Lackawanna <6 Western—Stock
2d mortgage (Delaware Lackawanna & Western)
Consol, mort., on roads«fcequipm’t,($10,000,000).
Bonds (convertible June 1,1875 to ’77)
Lackawanna & Bloomsb., 1st mort. (extension)..
2dmortgage
do
do
Denver <£ Bio Grande—1st mort., gold, sink, fd
Extension mortgage
1st consolidated mortgage (for $30,000,000)

five years

27

STOCKS AKD BONDS.

RAILROAD

March, 1880.]

—(V, 28, p. 427.)

125

8
8
6
7

2
7
7
7
7
7
7
7

Where Payable, and by

Payable

Whom.

6 & 7
3
6

1%
7

A. & 0.
J. <fc J.
M. & S.
A. & O.
M. & S.
•

•

•

•

J. & J.
J. & J.

J. & J.

Q.—F.

Philadelphia.

Q.-J.

New York, Office.
do
do
do
do
do
do
do
do
do
do
N. Y., U. S. Trust Co.
do
do
do
do

M. & 8.
M. & S.
J. & D.
M. & S.
A. & O.
M. & N.

(?)

August, 1905
.July 20,1876
March 1,1881
Sept. 1. 1907
June, 1892
March, 1885
April 15,1880
Nov. 1, 1900

'

']
-

jJ

•
.....

Railroad, 10 miles;'
operated, 670 miles. For the
the respective leased,
consolidated with this
The following is a synopsis, of the annual

miles; leased lines in

New Jersey—Chester

Morris & Essex, 118 miles; Newark & Bloomfield,
19 miles; total, 160 miles: grand total
terms of leases, see remarks under the names of
roads.
The Lackawanna & Bloomsburg was
company

Dividend.

Jan., 1880
April 1, 1904
April 1, 1908
Jan. 1, 1884
Dec., 1879
1880, ’90, >92
Dec. 1, 1906
Oct., 1879
Cincinnati. C. H.& D.Co.
Jan., 1880
N. Y., Winslow, L. & Co.
July, 1881
do
do
Sept., 1887
do
do
Oct., 1888
do
do
Mar., ’81 & ’94
do
do
Jan. 1, 1879
Jan. 1, 1879
Jan. 1, 1879
N. Y., Am.*fe’xch. N. B’k Jan. 1, 1905
Jan. 2, 1880
Dover, Co.’s Office.
Phil., Fid’lity I.T.&.S.Co July 1, 1895
Feb. 1, 1880
Pniiadelphia.

F. & A.

2%
7
7
7
7
7
7 g.

Stocks—Last

Q.-J. Pliila. and Carlisle, Pa.
A. & 0. Phila., T. A. Biddle & Co
do
do
A. & O.
do
do
A. & O.
Q.—M. New York and Danlnuy
J. & J. New York, 84Broadw’y

Q.-J.
•

pal. When Due.

When

t)

1\

In these Tables.
Bonds—Princi?

DIVIDENDS.

June 19,1873.

statement of the company
Gross earnings
Less expenses

4 miles; .Warren RB.,\

for 1879:

$19,942,29© •
16,131,839

from all sources

Balance net earnings.
Deduct interest on bonds and

rentals of leased roads

Actual profit for the year ending
Add surplus income to Dec. 31,1878

Dec. 31,1879

$3,810,451.
3,624,430^

$186,021
4,346,125
$4,532,140

Danbuiry & Norwalk—Danbury, Conn., to South Norwalk, Conn., 24
miles, with branches to Rklgeville and Hawleyville, together 10 miles. The entire cost of the change of gauge, heretofore kept as an asset, and
Opened in 1852. Gross earnings in 1878, $157,953; net, $39,667. Form¬ consequently included in the surplus income of past years, has been
erly paid 6 per cent, but dividends have been irregular. Operations and written off the books of the company, namely, $873,809, leaving income
account surplus, Dec. 31,1879, $3,658,337.
The following statement,
earnings for five years past were as follows:
Net
Gross
includes the operations of the Delaware Lackawanna & Western proper.
Passenger Freight (ton)
Earnings.
Earnings.
Operations and earnings for five years past were as follows:
Mileage.
Miles.
Mileage.
Years.
$72,269
$167,027
889,947
33
Passenger Freight (ton)
Gross
Net
Div.
2,355,878
1874-5.
73,340
173,478
960,977
Earnings. Earnings, p. c.
Mileage.
Mileage.
33
Years.
Miles.
2,521,678
1875-6.
43,371
165,245
903,384
33
208 11,176,135 229,499,212 $6,282,108 $4,170,086 10 •
2,464,378
1876-7.
39,667
157,953
932,634
33
1877-8.
2,557,337
208 12,858,752 174,610,656 4,051,286 2,645,288
8,722,409 168,693,921 3,617,659 2,105,341
....
208
1878-9.
208
9,336,008 187,819,897 3,699,601 2,320,482
....
,Dayton <£ Michigan.—Dayton, O., to Toledo, O., 141 miles. Opened in
1862. Leased in perpetuity to the Cincinnati Hamilton & Dayton. A The
following shows the gross and net earnings of the company proper*,
preferred debenture stoek takes up the bonds. A sinking fund is also including the aggregate coal sales, for twelve years:
Gross
Net
Gross
Net
Erovided. Lessees the common stock. (V. 29, p. 15.)
old $1,398,100 of
never
Years.
Earnings.
Earnings. Years.
Earnings.
Earnings.,
$804,696 1874.... $22,741,521 $5,743,75©
$11,902,571
Dayton <6 Union.—Dodson, O., to Union City, Ind., 32 miles.
The
1,654,763 1875.... 27,014,846
7,162,189
12,141,209
Greenville & Miami Railroad was sold out October 30,1872, and re¬
14,924,010
1,759,595 1876.... 17,447,916
4,001,861
organized as now January 9,1863. The company lease the section of
20,011,300
2,164,019 1877.... 14,871,311
2,479,197
the Dayton <fe Western between Dodson and Dayton (15 miles), and carry
17,086,100
1,118,911 1878.... 14,454,405
3,618,12©
their traffic on 47 miles. Operated by trustees since December, 1871.
1,295,488 1879.... 19,942,290
21,660,013
3,810,451
Gross earnings (1878), $107,010; operating, $68,020; net earnings,
25,334,989
5,331,310
$38,990. Paid lease, $10,000; equipment hire, $5,557, and bond inter¬
est, $28,695; total payments, $44,352. Capital stock, $86,300; funded The mortgage for $10,000,000 authorized will take up prior bonds to the
debt, $487,445, and other liabilities, $52,390; total, $626,135. Property amount of $2,820,000 as they mature, and the balance is for cash re¬
sources as required.
account, $620,224.
(V. 28, p. 144; V. 29, p. 119, 225; V. 30, p.
108.)
Dayton <& Western.—Dayton, O., to State line, Ind., 36 miles. Leased
in perpetuity from Jan. 1,1865, to Little Miami, and carried with that
Denvei' <£ Rio Grande (3 ft.)—Denver City, Col., to Alamosa, Col., 251
road in the general lease to the P. C. & St. Louis. The lessees are virtual miles, with branches to Canon City and coal mines, 43 miles, and El
owners and are answerable for all obligations.
Moro, 36 miles; total to Jan. 1, 1880, 329 miles. The original proposi¬
tion was to build a line from Denver to El Paso, about 860 miles. It is
Delaware.—Delaware Junction (P. W. & B.), Del., to Delmar (Md. line),
also in contemplation to build a branch from Los Animos to Silverton.
84 miles and with branches 100 miles. One branch (6 miles) is operated
The trouble between the Atchison Topeka & Santa Fe line and this
by the Dorchester & Delaware Company. The Delaware Railroad was company was finally settled by agreement, and the Gould party left in
opened 1855-1860, and is leased to P. w. & B. Company; rental 30 per quiet possession (see V. 30, p. 143), viz.: “The Denver & Rfo Grande is
cent of gross earnings, but stock must have six per cent. Gross earnings
to stop
St.
from
its Pueblo
in 1878 $365,580; net earnings, $109,674.
Dividends and interest Pueblo. the construction ofNew Mexico is&to beLouis line east point
Its extension into
built only to a
paid, $131,758. Deficit (charged to future earnings, $22,084. (V. 28, half way between Conejos and Santa Fe. The Atchison Topeka & Santa
p. 69.)
Fe Co. agrees not to build to Denver or Leadville, or to any other point
Delaware <t Bound Brook.—Bound Brook (C. of N. J.), to Delaware on or west of the Denver & Rio Grande Railroad. An equal division of
River (27 miles), and Trenton (4 miles), in all 31 miles. In connection the Leadville, San Juan and other Southern Colorado business from thewith Central of New Jersey and North Pennsylvania forms a line between Denver & Rio Grande, is to be made between the two companies at
New York and Philadelphia. In May, 1879, the property was leased for Pueblo. The Atchison Topeka & Santa Fe will also receive one-quarter
990 years to the Philadelphia & Reading Railroad Company—the lessee of the Denver traffic with the Missouri River and eastern points. The
paying interest and 6 per cent on stock in 1879-81, 7 per cent in 1881-83, Atchison Topeka & Santa Fe Co. reserves the right to build a line of
and 8 per cent afterward. The terms were described as follows at the about 33 miles in length to its coal mines in Colorado, for coal trains
time: “ The lease is for 990 years, being made for this term because the only, the coal to be used for its own purposes and for sale down the
Bound Brook’s charter is for 999 years, and a few years of its existence Arkansas Valley. The agreement is to be binding for ten years, and a
have already passed. The conditions are that the Reading is to pay all judicial decree is at once to be entered to affirm this settlement.” The
interest on the bonds of both the 'main roads and the laterals, and the trust deed of the consolidated mortgage is to Louis H. Myer and John
interest on the floating indebtedness at 6 per cent until the bonds are A. Stewart, of New York, as trustees. The deed is to secure and pro¬
converted. The Reading also binds itself to pay dividends on the stock vide for an issue of bonds, the amount afloat at one time not to exceed
of both roads quarterly, on the 1st of February, May, August and No¬ $30,000,000 in value, to be known as the company’s first consolidated
vember. For the first two years it is bound to pay 6 per cent dividends; bonds. The instrument provides that $7,422,500 of this amount shall
for the next two years following, 7 per cent, and for all subsequent be used in retiring prior issues, and bonds to the amount of $5,500,000,
years 8 per cent, free of ail taxes. The bonded indebtedness of the par value, shall be issued at once for the purpose of building and com¬
Bound Brook road is $1,500,000, and the capital stock about $1,500,000.” pleting the extension to Leadville, New Mexico and San Juan mines*
Gross earnings in 1878 $270,570; net, $119,022.
(V. 28, p. 451, 503.) and other points. The instrument was executed Feb. 12, 1880. The.
following are the latest earnings reported:
Delaware Lackawanna <t Western.— Delaware River (N. J. line) to New
Gross
Net
Average
York State line, 115 miles; Bloomsburg branch, 80 miles; Winton
Miles.
EaraingsYears.
Earnings.
Branch, 8 miles; Ke3rser Valley branch, 5 miles; leased lines in New
JL874.
>, 120
$379,142
$183,51©
York—Cayuga & Susquehanna Railroad, 35 miles; Green Railroad,
:
120
363,096
155,02©
8 miles; Oswego & Syracuse Railroad, 35 miles; Utica Chenango &
120
388,846
161,602
Susquehanna Valley Railroad, 98 miles;. Valley Railroad, 11 miles;
773,322
342,67©
307
total leased lines, 187 miles: controlled and operated—Syracuse Binghfemton & New York, 81 miles; Rome &.Clinton Railroad, 13 miles; —(V. 28, p. 120,173, 427, 502, 641; V. 29, p. 40, 66, 301, 329,. 382,.40**
Utica Clinton & Binghamton, 31 miles; total controlled and operated, 459, 562, 583; V. 30, p. 16, 118, 143, 248.)
...

...

...

,

...




have

made profit from operations. The lessees

28

BAILROAD

Subscribers will confer

a

STOCKS

AM)

BONDS

great favor by giving Immediate notice of any error discovered In these 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.

Denver South Park d Pac.—1st mort.,
gold, sink, fd
Des Moines & Fort Dodge—1st
mortgage, coupon
Det. Gr. Haven d Mil.—1st M., guar.,(for
$2,000,000)
2d mortgage, guar., (for

135
88
191
189

1st mort. (Detroit & Pontiac RR.), April
1,1851.
3d mortgage (Detroit & Pontiac RR.), Feb. 1854.
2d mortgage, (Detroit & Pontiac RR.), Jan.
1853.
Detroit Hillsdale d S. W.—Stock

2d
Srt

mortgage
mftrtfjftgp,

$1,000

1.200,000
(?)

100 &c.
500 &c.

•

•

40

.

1877
1869
1870

1879

143
100
43
55
55
90
90

East Tennessee Virginia & Georgia—Stock
1st mortgage sinking fund bonds
East Tenn. & Georgia ($92,000 are endorsed)
East Tennessee and Virginia (endorsed)
2d mortgage to U. S. Government

1863
1864
1863
1863

100
100
500 &c.

Des Moines

per mile.

(V. 29, p. 511, V. 30

p.

1870

1873

1,000

500,000

50

1,309,200
495,900

1858

100 &c.
100

1,968,274

1870
50-’56
1856

1,000
1,000

3,123,000

66.)

120.)

Detroit Hillsdale d Southwestern.—From
Ypsilanti,Mich.,to Banker’s,
The Detroit Hillsdale & 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 & Ann Arbor road. (V.
30, p. 222.)
5
Detroit

Lansing d Northern.—Detroit, Mich., to Howard City, Mich.,
157miles; Stanton Branch, Stanton Junction to Blanchard’s, Mich, 37
miles; Belding Branch, 1*3 miles; Slaght’s Branch, Ha miles; total, 197

miles. The company also uses 4 miles of Grand Trunk
track, Detroit to
the Junction. A consolidation, April
11, 1871, of the Detroit Howell &
Lansing, the Ionia & Lansing and the Ionia Stanton & Northern Rail¬
roads, under the name of Detroit Lansing & Lake Michigan
Railroad,
which was sold in foreclosure December
14,1876, and new stock issued
as above.
Gross
earnings in 1878, $970,033; net
against $282,946 in 187/. (V. 28, p. 326; V. 30, p. earnings, $372,198,
168.)

Dubuque d Dakota.—Waverly, Iowa, to Hampton, Iowa, 41 miles.
Built on the old grading of the Iowa Pacific.
Dubuque & Sioux City
Company guarantee the bonds issued for construction to the extent of
$10,000 per mile. Bonds may be paid off at any time at 105. No
gen¬

eral account as yet published. Bonds as
above $10,000 per mile; pre¬
ferred stock $10,000 and
ordinary stock $5,000; total, $25,000 per mile.
Will bo extended eastward from
Waverly to Wadena, 45 miles, and
there join the Turkey River Branch of the
Burlington Cedar Rapids &
Northern Railroad.

Dubuque d Sioux City.—Dubuque, Iowa, to Iowa Falls, 143 miles.
Chartered as Dubuque & 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. & Sioux
City
Company), $394,145. Gross earnings, 1879, $927,826.
Dubuque

Soutliu'esiei'n

Farley, Iowa, to Cedar Rapids, Iowa, 55
Western. It is leased to Chicago
no separate report of earnings dr
made. Capital
stock—common, $588,400; preferred, $589,600; funded debt, $548,000; and other liabilities
(including overdue
coupons), $117,083; total liabilities, $1,843,083. The line is
practically
a side
property belonging to lessees. (V. 26, p. 264, 459.)
—

Formerly Dubuque Marion &
Milwaukee & St. Paul Company, and
rental is

Dunkirk Allegheny
Valley d Pittsburg.—Dunkirk, N. Y., to Titusville
Pa., 91 miles. A consolidation of the Dunkirk Warren &
Pittsburg am
Warren & Venango in 1872. Is owned
by New York Central * Hudsoi
jKiyer Company, but accounts are kept separate. Gross earnings, 1879
$283,132; no net earnings; deficiency, $79,889. Capital stock, $1,300,
660; funded debt, $3,200,000; advance by lessee, &c., $211,921;
proti
and loss, $124,034; total
liabilities, $4,816,339. Nominal cost of prop

erty, $4,811,423.

(V. 30,

p.

17.)

Hast Broad Top (Pa.)— Mount
Union, Pa., to Robertsdale, Pa., 30
miles. A coal road, opened in 1874. The
stock is $568,400. In 1878
gross earnings were $90,808 and net
earnings $38,122.
East
Pennsylvania — Reading, Pa., to Allentown, Pa., 36 miles. It is
leased for 999 years from
May 19,1869, to the Philadelphia &
Railroad, at a rental of 6 per cent per annum on the stock and Reading
interest
on the bonds.
G. A. Nicolls, President,

Philadelphia.

East Tennessee Virginia d
Gcoi'giu.—Bristol, Tenn.,
Tenn., 242 miles; branch line, Clemeland, Tenn., to to Chattanooga,
Dalton, Ga., 30
miles: total, 272 miles. This was a
consolidation, Nov. 20, 1869, of the
East Tennessee * Virginia and
the East Tennessee * Georgia railroads.




862,400
147,000
190,000

1,000

Mich., 65 miles.

miles.

296,000
586,000
81,500
450,000
2,000,000
1,000,000
200,000

May 1, 1905

New York.

June 1, 1905
1908
1908
Nov. 15,1873
Nov.. 15,1873

J.

&
&
&
&
&

N.
N.

O.

New York & London.
New York.
do

A.

do

J.

do

April 1, 187*

.

Boston.

F. & A.
do
& J. Boston, 2d Nat. Bank.
J. & J.
8
do
do
M. & N.
8
do
do
6 g. J. & J.
New York.
2
A. & O. N.Y.,M.K.Jesup,P.& Co.
7
J. & J.
do
do
7
J. & J.
do '
do
7
J. & J. N.Y.,M.K.Jesup,P.& Co.
7
A. & O.
do
do
7g. J. & D. N.Y., N.Y. Cent. & Hud.
A. & O.
7
do
do
A. & O.
7
do
do
J. & J. Philadelp’a, Co.’s Office.
7
3
J. & J. Phila., by P. & R. RR.
M. & S.
7
Pliila., P. & R. offioe.
3
A. & O. N. Y., R. T. Wilson & Co.
7
J. & J. N. Y., Gallatin Nat'lB’k
6
J. & J. N. Y.,R. T. Wilson* Co.
6
M. & N.
do
do
4

5,000,000

1,000
1,000
1,000
1,000

1870
1870

Detroit Grand Haven cC
Milwaukee.—Detroit, Mich., to Grand Haven.
Mich., 189 miles. This is a 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. No report of
earnings has yet been made for
1879, but from Jan. 1 to Nov. 10, 1878, net earnings were $233,204.
The Detroit & Pontiac and O. & O. interest has been
paid, and those
bonds may be changed into new first
mortgage. All other bonds are
ohangeable into the new second mortgage. (V. 27, p. 15, 40, 67,
172,

-

M.
M.
A.
F.

7

1,975,000
770,000
81,000
400,000

100
500
500 &o.
500

Dodge.—Des Moines to Fort Dodge, Iowa, 87H miles,
Originally a division of tne Des Moines & Valley Railroad, built in 1870
ana sold out in 1873.
Gross earnings in 1878-9 were $205,130; net,
$76,273. Half of above bonds are incomes and depend on earnings for
their interest. Capital stock is $1,843,100, and funded debt
$2,178,000;
total cost of property to present owners,
$4,021,100.

p.

N.Y., London* Frankf’t

3*2
3ia

2,504,000

1,000
1,000

<& Fort

251,356; V. 28,

1,874,000

1,000

Denver South Park & Pacific (3
feet).—Denver, Col., to Leadville, &c.,
135 miles, with branch to Morrison from Bear
Creek9^3 miles. A tunnel
intervenes—tunnel 11,000 feet above sea-level. Bonds issued at the

$12,000

18749-65.:

1,000
1,000
1,000

Dividend.

....

5
6 g.
7
7
8
7

(?)

30
36
36
270
242
112
130

East Pennsylvania—Stock
1st mortgage

6

150,866
51,000
150,000
250,000
100,000

90

mort., gold

East Broaa Top.—1st mortgage, registered

rate of

•

M. & N.
J. & J.

7
6

1,350,000

182
59
59

....

Rate per When Where Payable, and by
Cent.
Whom.
Payable

$1,536,000

1,000

65

Detroit

Lansing & North.—Stock, common
Preferred stock
'.
1st mortgage
Ionia & Lansing, 1st mort., coup.,
may be reg
do
2d mortgage
do
do
Dubuque d Dakota—1st mort., gold, guar
Dubuque & Sioux Oity—Stock
1st mortgage, 1st division
1st mortgage, 2d division (for $1,400,000)
Dubuque Southwestern—1st mort., pref., sink, fd

Outstanding

1876
1874
1878
1878

•

Bonds—Princi¬
pal,^When Due.
Stocks—Last

INTEREST OR DIVIDENDS.

Amount

1853
1853
1851
1854
1853

$3,500,000)

Sterling (Oak. & Otto. RR.) Oct.' 1, 1853, gold
Dollar (Oak. & Otta. RR.) bonds, Oct, 1,1853

1st mortgage, Oct. 1,1863
Dunkirk Allegh. Valley & Pittsburg—1st

fVoL, XXX.

J.

Feb.
Jan.

15,188$
1, 1878

Feb. 10,1880
Feb. 10,1880
Jan.

1, 1907

Julyl,
May 1,
July 1,
Oct. 15,

1889
1880
1919
1879

1883
1894

July, 1883
Oct., 1883
June, 1890
Oct. 1, 1890
Oct. 1, 1890
July 1, 1903
Jan. 20,1880
Mar. 1, 1888
May 1, 1879
July 1, 1900
1880 to 1886

May 1, 1886

The company owns the Cincinnati Cumberland
Gap & Charleston
Railroad, and also has an interest in the Western North Carolina and
Rogersville & Jeffersonville railroads. A through route via North Caro¬
lina to the sea coast is purposed. A scheme is also broached to
consoli¬
date and make a trunk line from Norfolk to
Memphis. This company
leases the Memphis & Charlestown Railroad for 20
years, merely paying
its earnings as rental, but agrees for three
years from Deo. 2,1879, to
furnish funds to buy up any coupons of the M. & C. road
remaining un¬
paid. After the three years the lessee may surrender the lease on six
months’ notice. The last annual report was published in the
Chronicle,
V. 29, p. 382, and the income account for the
year ending June 30,

1879,

was as follows :

1878-79.

Less

operating

Earnings after deducting operating

Less

general expenses

Neteamings

expenses.

$1,022,250

$404,417

$435,257

36,229

expenses

1877-78.

$988,291
583,874

Grosseamings

25,649

$368,188

1

Net earnings.
Interest account

on

$409,608

$265,676

Charged to profit and loss

$368,188

3,750

Dividend of 3 per cent May 1,1879

Balance
Interest

586,993

58,872—328,298

$39,890

W. N. C. Railroad bonds

16,030

Total surplus

$55,920

The percentage of total expenses to gross receipts was 61*74
per cent

against 59

as

per cent the

follows:

previous year.

Earnings for five
Gross

Years.

„

.......

Miles.
272
272
272
272
272

Net

Earnings.
$1,059,986
1,058,954

Div.

Earnings, p.ct.

994,050
1,022,252
988,291

years past were

'

$342,464
343,560
325,127
409,609
368,188

3
3
3
3

At the annual

meeting held December 4,1879, resolutions were passed
conferring authority upon the Board of Directors—first, to issue a 6 per
cent guaranteed stock in an amount not
exceeding $1,000,000; or, second,
to create and issue second mortgage bonds in a sum not
exceeding
$1,000,000, or, third, to issue $5,000,000 of 6 per cent bonds, to bo used in
retiring all outstanding bonds and for other purposes. The President,
R. T. Wilson,
Esq., remarks in his report: “There has been no change
in your outstanding bonded indebtedness. We have sold
$35,000 of the
Western North Carolina bonds, which were on hand a
year ago, leaving
194 of these still, on hand. The
earnings of the Memphis & Charleston

Railroad show a deficit on the amount required to meet its interest on
the fiscal year’s operation, ending June 30, 1879, of
$70,081, and it was
quite clear that default would be made in the payment 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 whioh
you are now operating it.” * * * “Theneoessary 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 & Charleston Railroad Com¬

pany the right of canceling the lease so long as the East Tennessee
Virginia & Georgia Railroad Company will supply any deficit in net
earnings which may be necessary to meet the interest upon the coupons
of the former company. And the East Tennessee
Virginia & Georgia
Railroad Company takes an
engagement upon itself 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 & 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 &
Charleston Railroaa
Company. It will be optional with the East Ten¬
nessee Virginia & 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 & 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 ofithe Memphis & Charleston Railroad more rapidly
than its earnings will provide for, by
making temporary advances to
company, as you nave a right to, under the lease.” (V. 29, p.

382.)

'

RAILROAD

March, 1880. j

Sulftscrlbers will confer a great favor

explanation of column headings, Ac., see notes
on first page of tables.
s

these Tables.

Date
Size, or
Par
of
Road. Bonds Value.

Bonds—Princi¬

Outstanding

$100

$4,997,600

Amount

Rate per
Cent.'

When

Where

pal,When Due.

Payable, and by
Whom.

Payable

Stocks—Last
Dividend. '

/

282
1856
1876

Mortgage funding eertifirates

Eastern (N. H.)—Stock

15
38

*—.

(Md.)—

Eel River—Stock
Elizabethtown Lex. & Big Sandy—1st mortgage,
Elmira Jeff. & Canandaigua.—Stook
Elmira <£ Williamsport—Stock, common
Preferred stock
1st mortgage bonds
Income bonds, 999 years to run

Erie dt Pittsburg—Stock
1st mortgage, convertible into

•

•

•

194,400
13,394,837
492,500
400,000
2,712,500
1,200,000
500,000
500,000
500,000

•

100
I860

....

'

100
122

gold

4775
75
75

'

2d mortgage, convertible
Consolidated mortgage free

by giving immediate notice of any error discovered in

Miles
of

Eastern (Mass.)—Stock
Essex RR.lst mort. (extended for 20 years)
Eastern Shore

29

BONDS

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

STOCKS AND

1872

1874-956

1,000
100

50
50

1860
1863

1,000
500
50

100

1,000,000
570,000

1,998,400

81*2
81*2

Equipment bonds
Europ'n <6 N.Am.—1st M., Bang’r to Winn.,Bang’r l’n
Land grant 1st mort. (2d mort. Bangor to Winn.),
Bangor A Piscataquis, Bangor loan, 1st mortg...
Evansv. & Terre Haute.—Stock ($100,000 is pref.)

100 Ac.

1865

100 Ac

291,700
92,300

1868

1,000

2,193,000

56
58
49
131
51
109
23
55
55

of State tax

1862

81*2

consolid. mort—

1869
1869
1869

1,000

..

•

•

•

•

5781
..

1st mortgage, Evansv. A Ill., sink, fund
1st mort., sinking fund (Evansville to Terre H.)..
Rockville extension
Evanville Terre Haute <6 Chic.—1st mort., gold
2d mortgage, gold

1854

1,000
1,000

1860

1,000
1,000

1873

100

283

Flint dk Pere Marquette—Consol, mort.,sinking fund
1st mort., land grant, 3d series
Flint A Holly RK. (sink’g fund $25,000 per year).

190

17

1874
1872
1868
1868

1,000

1,000

6
2
6
5

4,500,000
1,000,000
1,880,000

300,500*

500 Ao.

Boston.
do
Boston and London.

Boston,

7
5
1\
7

S'

7
7

7
7 g.
7 g.
3
6 A 7
8
8
10

M.
J.
J.
A.

A
A
A
A

N.
J.

by Treasurer.

Baltimore.
Boston.
New York.

....

2*2

281,000
611,000
125,500
775,000
325,000

J. A D.
J. A J.

Sept.

2^2
312

7
7
7
6
6

A J.

M. A S.
M. A 8.

....

1,120,307

3,559,000

....

21*

6 A 7

500 Ac.

1870

1852

412g.

814.000

500 Ac.
100

189

Fitchburg—Stock
Bonds, coupons, ($4,000,000 authorized)

745,000
1,000,000
2,000,000

J.

3
6

Baltimore, N. Cent. RR.
Phila., Penn. R. R. Co.

July 15.1873
Sept. 15,1896
Sept., 1906
Deo. 15,1880
Jan. 1, 1880
Oct, 15,1879
Mar. 1, 1902

Sept., 1879

Nov., 1879
Jan., 1880
Co. Jan. 1, 1880
Co. Oot. 1. 2862
Co. Mar. 10, 1880
July 1, 1882
April 1, I860
July 1, 1898
Oot. 1, 1890

do
do
J. Phila., Penn. Trust
0. Phila., Penn. R. R.
Q.-M. N. Y., Union Trust
do
do
J. A J.
do
do
A. A O.
do
do
J. A J.
do
do
A. A O.
Jan. 1, 1889
Boston.
J. A J.
M. A S. New York and Boston. Mar. 1, 1899
A. A O. Boston, Second N. Bank April 1, 1899
M. A N.
Nov., 1878
J. A J. N.Y.,Farm. L’anA T.Co. Jan. 1, 1887
do
Nov. 1, UB87
do
M. A N.
do
do
F. A A.
Aug. 1, 1880
M. A N. N.Y.,Farm.L»an A T.Co. May 1, 1900
J an. 1, 1903
do
do
J. A J.
Jan. 1, 1880
J. A J.
Boston, Office.
do
A. A O.
Apr. 1/94 A'98
M. A N. N.Y., Merch’nts’Ex.B’k.
Hay. 1902
M. A S. N. Y., Meehan. Nat. B*k. Sept. 1, 1888
do
do
M. A N.
May 1. 1888

has paid moderate dividends. The last
the Chronicle (Y. 29, p. 488), for the
Newburyport City Railroad, 3 miles; Portland Saco A Portsmouth 51 year ending August 31,1879, as follows;
1877-78
Gross Earnings—
1878-79.
miles; Portsmouth A Dover, 11 miles; Portsmouth Great Falls & Con¬
$165,364
$156,904
way, 71 miles; Wolfeboro Railroad, 12 miles; total leased lines, 154 Passengers
378,162
380,718
miles; total operated, 283 miles. This company was formerly a prosper¬ Freight
21,282
ous road, paying dividends, but in 1872-74 began the policy of leasing
Express, mail, Ac
29,536
17,604
18,210
other roads and heavily increasing its interest and rental obligations. Rents
The company became embarrassed in 1875 and compromised with its
Total
$584,703
$583,019
bondholders by the issue of a general mortgage to fund all the prior non¬
403,909
;
404,270
mortgage debts/the new bonds to bear 3*2 per cent for three years from Expenses
1876, then 4*2 per cent until September, 1882, and 6 per cent thereafter.
Net earnings
The last annual report was published in V. 29, p. 629. Operations and
$180,854
$178,748
The income account for 1878-9 was briefly as follows:
earnings for five years past were as follows:
Eastern, Mass.—Boston, Mass., to New Hampshire State line,
branches, 77 miles; leased lines: Eastern Railroad of N. H„

Miles.

Years.
1874-5
1875-6
1876-7
1877-8
1878-9
*

....

'282

282
282
282
282

Passenger
Mileage.

75,201,867
69,453,812
68,502,002
61,706,681

Freight (ton)
Mileage.
35,687,333
34,224,383
39,099,659
39,116,073
44,996,094

65,403,019

Gross

41 miles;
16 miles;

Net

Including other receipts.
p. o37, 629; V. 30, p. 144.)

Eastern (27. H.)—Massachusetts State line to Maine State line, 16 miles.
It was formerly leased for 99 years to the Eastern (Mass.)
but lessee failed, and a new lease was made from October 1,1878, for
60 years and two months at $22,500 per year, equal to 4^ per cent per

Railroad,

Moody Currier, President, Manchester, N. H.

The road
19.1879, subject to the first mortgage.
George R. Dennis, President, Kingsland, Md.
Eastern Shore (Md.)—Delmar
sold in foreclosure February

Net

$180,854

earnings

$80,599
Earnings. Revenue.* Interest on bonds and loans
50,860
$2,766,357 $757,419 Dividends, 5 per cent
25,561—157,021
683,594 Payment on cars bought
2,412,140
799,317
2,451,323
Balance, surplus
$23,832
871,810
2,422,394
2,485,977
994,785 The surplus was spent in building the Owensville Branch. (V. 29, p.
459, 488.)

—(V. 29,

annum.

has done a very fair business and
annual report was published in

to Chrisfleld, Md., 38 miles.

was

Evansville Terre Haute & Chicago—Terre Haute, Ind., to Danville, Ill.,
55 miles.
Road was opened December, 1871. It uses 6 miles of the
track of the Rockville Extension into Terre Haute; also leases the
Indiana Block Coal road, 14 miles. In February, 1880, a lease was voted
to the Chicago & Eastern Illinois for 999 years at $75,000 per year. For
the year ending April 30,1879, the net earnings were $94,236. The
stock is $458,661. Earnings for five years past were as follows:
Gross
Net
Years.
Miles.
Earnings.
Earnings.
55
$110,907
$229,097
55
235,899
114,507

55
222,782
98,233
River.—Logansport., Ind., to Butler, Ind., 94 miles. This was
55
209,673
77,224
formerly the Detroit Eel River A Illinois Railroad, sold under foreclos¬
55
242.896
<• 94,236
ure July 6, 1877, and reorganized under present name Dec. 10,1877.
(V. 30, p. 221.)
In 1878 gross earnings were $206,855 and net earnings $67,842. In —Josephus Collett, President, Terre Haute, Ind.
August, 1879, it was leased to the Wabash St. Louis & Pacific Railroad,
Fitchburg—Boston, Mass., to Fitchburg, Mass.(doubletrack),50miles;
at a rental of 3 per cent per annum on the stock for five years, and 4
branches: Charlestown, 1 mile; Watertown, North Cambridge to Wal¬
per cent thereafter. (V. 28, p. 276; V. 29, p. 226.)
tham, 7 miles; Lancaster & Sterling, South Acton to Marlborough, 12
Elizabethtown Lexington d- Big Sandy.—Completed road: Lexington, miles; Peterborough & Shirley, Ayer, Mass., to Mason, N. H., 24 miles;
leased and operated: Yermont & Mass. RR—Fitchburg to Greenfield,
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, 56 miles; Turners Falls Branch , 3 miles; Troy & Greenfield Railroad—
Greenfield to North Adams, 37 miles; total, 190 miles. The Troy &
p. 66.
Greenfield Railroad and the Hoosac Tunnel, owned by the State of Mas¬
Elmira Jefferson <6 Canandaigua.—Canandaigua, N. Y., to Jefferson, sachusetts, have been operated by this company.— (S«e V. 29, p. 41, 67.N. Y., 47 miles. The road was foreclosed and reorganized under present In 1878-9 net income above rentals was $279,740. Operations and earn.
name Feb. 18,1859.
It was leased to New York & Erie for 20 years ings for five years past were as follows:
Div*
Net
Gross
from Jan. 1,1859, and the lease transferred to Northern Central Rail¬
Passenger Freight (ton)
Earnings. Revenue.* p.otu
Years.
Miles.
road in 1866. Rental, $25,000 per year.
Mileage.
Mileage.
8
152 31,992,341 22,031,844 $1,667,748 $412,872
5-4781
8
529,617
1,719,606
6-5781
152 29,537,753 41.692,039
Elmira & Williamsport.—Williamsport, Pa., to Elmira, N. Y., 77 miles.
6
556,738
This company was reorganized under the present name Feb. 29,1860,
1,792,168
152 30,690,340 53,224,939
7-6781
6
583,313
1,794,337
and leased to the Northern Central Railway for 999 years from May 1,
152 32,266,503 68,041,193
8-7781
6
521,958
152
1,980,473
9-a rental of $165,000 per annum and interest on equipment.
1863, at 8781
The dividends on the common stock are 5 per cent and on the preferred
7 per cent. Operations are included in the Northern Central returns.
Including other receipts.
—(Y. 28, p. 253.)
—(V. 28, p. 17, 526; V. 29, p. 41, 67, 537; V. 30, p. 42.)
Eel

Erie <6

Pittsburg.—New Castle, Pa., to Girard, Pa., 81 miles; branch:

Dock Junction to Erie Docks, 3 miles; total, 84 miles. Road opened in
1865. It was leased to the Pennsylvania Railroad for 999 years from
March 1,1870, at a rental of 7 per cent on stock and interest on the

bonds, an(l the lease

was

transferred to the Pennsylvania Company.

From Girard to Erie, 18 h miles, the track of the Lake Shore & Michigan
Southern is used. The lease has been quite unprofitable to the lessees,
and in 1878 the deficiency paid by them was $217,437. Wm. L. Scott is

.

.

.

.

.

.

*

Flint <£• Pere

Marquette.—Monroe, Mioh., 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 & East Saginaw, the Holly Wayne A Mon¬
roe, and the Cass A 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, 1879, but reorganization will probably be effected without sale,

preferred stock issued for the consolidated mortgage bonds, and com¬
stock issued for the old stock—see V. 30, p. 91,117. The gross earn¬
jEuropean <6 North American.—Bangor, Me., to Vanceboro (State line), ings for six months ending Dec. 31, 1879, were $629,817; same time
Me., 114 miles; leased—Bucksport & Bangor<Railroad, 19 miles: total, 1878, $566,370; increase, $63,447. During 1879 the land department
19 23,the
133 miles. Road opened in 1871, and worked in connection with the
OperaEuropean & North American Railway of New Brunswick and consoli¬
188,929
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 acres unsold December 31,1879. Earnings for five years past were as
President, Erie, Pa.

(V. 28,

p.

377.)

main division went into the hands of trustees of the land-grant mort¬
gage Oct. 2, J876. 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 net earnings $126,507. (V. 27, p. 148, 251,

628; V. 29, p.357.)

Evansville <& Terre Haute.—Evansville, Ind., to Terre Haute, Ind., 109

miles; Rockville extension—Terre Haute, Ind., to Rockville, Ind., 22
miles; total, 131 miles. This was formerly the Evansville & Crawfordsville Railroad, and took the present name April 1,1877. The company




and

mon

follows:

Years.

Gross

Miles.
283
283
283
280
280

Earnings.

$1,055,053
1,000,368

997,965
1,056,017
1,141,569
—(V. 28, p. 69, 146, 223, 525, 599; V. 29, p. 17, 225, 621; V.
117.)
1878..
1879

Net

Eamin#

$358,f
366,074
416,679
438,202

30, p. 91,

30

RAILROAD

Subscribers will confer

a

STOCKS

AND

BONDS.

[VOL. XXX.

great favor by giving Immediate notlee of any error discovered In tbese Tables.

DESCRIPTION.

Miles

Date

For explanation of column headings, &c., see notes
of
of
on first page of tables.
Road. Bonds

or
Par

Value.

jBom/s—.Princi¬

INTEREST OR DIVIDENDS.

Size,

Amount

Rate per

When

Cent.

Outstanding

Payable

pal,When Du$-

Where Payable, and by

"

Stocks—Last
Dividend.

Whom.

Flint dk Pare

Marquette—( Continued)—
Bay City, E. Saginaw, 1st mort., guar by lessees.
Bay County, issued in aid, guaix by lessees

689781
13

1867

....

Construction bonds

65
29
59
58

mortgage (FI. & N. S.)

Central of ~L. I., 1st mortgage
do
do
Extension 1st mortgage
Fonda Johnstown dk Gloversville—1st mortgage
Fort Wayne dk Jackson—Pref. stock, 8 per cent.;
Common stock
!
Fort Wayne Muncie dk Cincinnati—1st mort., gold...
2d mortgage

Framingham dk LowelL- 1st mortgage bonds
Frankfort dk Kokomo— 1st mortgage, gold
Frederick dk Pennsylvania Line—1st mortgage
Fremont Elkhorn dk Mo. Valley — 1st mortgage
Galveston Harrisb.dk S. Antonio—1st mort, gold, 1.
2d mortgage
Galveston Houston dk Hend. of 1871—1st mort
Geneva Ithaca dk Sayre— 1st hiort., s. f., gold...:

Georgia Railroad dk Banking Co.—Stock
Bonds, not mortgage

do
do
Grand Haven (Mich.)—Receiver’s certificates

Grand Rapids dk Indiana—Stock
1st mort:, land grant, gold (guar, by Pa. RRj
1st mort., gold, ($2,195,000 are land grant)
Income mortgage bonds, for $10,000,000.

gr.

io

.

.

1,000

100
109
109
26
26
28
51
215

1,000

500 <fec.

1,000

....

,

1,000,000
200,000
300,000

1,800,000

1,000

1,000

500,000
500,000
200,000
500,000
690,000
4,300,000
1,000,000
1,493,000
600,000
4,200,000
483,000
1,000,000
160,000
2,800,000
4,000,000
3,205,000
795,000

•

-

...

.

....

....

1,000

100 &c.
100
500

1877

1,000

1869

1,000
1,000
1,000

1869

1875

Florida Central.—Jacksonville, Fla., to Lake City, Fla., 59 miles. In
March, 1868, the old road was sold by the trustees (the Florida Atlantic
<fc 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 of State bonds issued in exchange for
bonds of this company. E. M. L’Engle, president, Jacksonville, Fla.
-(V. 28, p. 599.)
Flushing North Shore dk Central.—Hunter’s Point, N. Y., to Babylon,
N. Y., 34 miles; branches—Woodside to
Flushing, 4 miles; Wliitestone
Junction to Whitestone, 4 miles; Flushing to Great Neck, 7 miles; Gar¬
den City to Hempstead, 1 mile; Bethpage Junction to
Bethpage, 2 miles;
total, 52 miles. This was a consolidation August 1,1874, of tne Flush¬
ing <fc North Side Railroad, the Central of long Island, the North Shore,
and other minor roads. In May, 1876, they were leased to the
Long
Island Railroad, which failed to pay the rental, but the
operations are
included in that company’s returns. Some 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 & Flushing
Railroad 7s, $149,000 North Shore 7s, and $93,000 Whitestone & West¬
chester 7s. Central of Long Island first mortgage foreclosed and road
hold August, 1879. (V. 27, p. 677; Y. 29, p. 17,196, 407.)
Fonda Johnstown <£ Gloversville.—Fonda, N. Y., to Gloversville, N.
Y.,
10 miles; leased, Gloversville & Northville
Railroad, Gloversville 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.

Wayne dk Jackson—Jackson, Mich., to Fort Wayne, Ind, 100

p.301,631; V.30,p.43.)
Fort Wayne Muncie dk Cincinnati.—Fort
Wayne, Ind., to Connorsville,
Ind., 104 miles. Opened in 1870. The company defaulted and a receiv¬
er was appointed Nov., 1874. The bondholders are
preparing to foreclose
and reorganize. Ely ah Smith, president, Boston, Mass.
(V. 30, p. 192.)
Framingham dk 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 & New Bedford Railroad Co., and
since Feb. 1, 1879, operated
by Old Colony 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. (V. 30, p. 192.)
Frankfort dk Kokomo.—Frankfort, Ind., te Kokomo, Ind., 26 miles.
.Road opened August 10, .1874. Capital stock, $600,000. In May, 1879,
this company’s bonds, amounting to
$200,000, and stock, amoimting 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 & Bloomington Railroad and
the Logansport Crawfordsville & Southwestern Railroad.
For four
years and five months 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 Adiinis, President, N. Y. City.
Frederick dk Pennsylvania Line.—Kingsdale to Frederick
City, Md., 28
miles. It is leased to Pennsylvania
Railroad, which pays over the net
earnings, which have amounted to very little. Stock, $312,528. John
■Loats, President, Frederick City, Md.
Fremont Elkhorn dk Missouri Valley.—Fremont
to Wisner, Neb.,
51 miles. Leased temporarily to Sioux
City & Pacific Railroad. The
rental is 33U per cent of gross
earnings. Stock, $690,000. P, S. Crowell,
President, East Dennis, Maes.
Galveston Harrisburg dk San
Antonio.—Harrisburg, Tex., to San An¬
tonio, Tex., 215 miles. This was a successor to the Buffalo Bayou Brazos
& Colorado Railway. The road was
opened to San Antonio March 1,
J§77. The $roS8 earnings in 1878 were $1,325,845; net 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¬
gage covers, the property and about 1,500,000 acres of land.
The

?roceeds of beginssales 1880. The retiregrant is sixteenasections (10,240
per ceht land
in are used to land the bonds, and sinking fund of
acres) per mile. T. W. Peirce, President, Boston, Mass. (V..30,
p. 144.)
Galveston Houston dk Henderson
of 1871.—Galveston, Texas, to
Houston, Tex., 50 miles. The road was opened in 1853-4 and sold in
foreclosure December 1,1871, and reorganized.
Mortgage debt at date
of sale was $5,750,000. In 1876 the
guage was changed to 4 feet 8 4




1874-965

1,000

miles. This road is successor to the Fort Wayne Jackson &
Saginaw,
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 bonds and interest, and the common stock in place of the old
second mortgage bonds. (V. 28, p. 199,300; Y. 29,

„

.

r

1871
1873
1878
1872
1870

& J. Newark, N. J., Sav. Ins.
& S.
New York.
& J.
New York.
& J. N. Y.,Mech. Nat. Bank.

July 1, 1882
Sept. 1, 1887
Jan. 1, 1876
Jan. 1, 1901
July 1, 1897

....

J.
M.
M.
M.
M.
J.

&
&
&
&
&

J. N.Y.,Farm. L. <fe Tr. Co.
N. N.Y., Chatham Nat. Bk.
N.
do
do
8.
do
do
N.
do
do
& J. N. Y., St. Nich. Nat. B’k.

A.
A.
A.
J.

&
&
&
&

Jan.

1, 1907

May 1, 1889Mar.

1, 1902

May 1, 1903
July 1, 1900
Mar. 25, i88a

700,000

1,000

332

332
332
332

2,000,000

1879

-

7
7 g.
7
7
7
7
7
2

400,000

500 &c.

500 &c.
100 &c.

dent, Boston, Mass.

Fort

310,000
309,000
800,000

1869
1871
1871

35
232

8

1.000,000

....

Florence El Dorado dk Walnut Valley.—Florence to El Dorado, Kan., 29
miles. Operated since August 1,1877, by the Atchison Topeka & Santa
Fe Railroad at a rental of 35 per cent gi*oss earnings, but not less than 7
l>er cent on bonds, besides taxes. Stock, $450,000.
Alden Spear, Presi¬

.

.

J.
M.
J.
J.

10
10
8

75,000
41,405

100

215
50

...

1871
1877
1877
1869
1870
1872
1873
1870

$100,000

500

.

Holly Wayne <fc Monroe, 1st mort., sinking fund.
Florence El Dorado dk Walnut Valley—1st mortgage
Florida Central— 1st mortgage, gold, coupon
Flushing North Shore dk Cen t.—1st mort. (Fl.&N. S.)
2d

$500&c.

....

7
8
7
7
7
7
6
7
7
7
3
7
6

*

g.

0.
O.
O.
J.

Boston, Office.

Oct., 1889

do
Boston.
New York.

=

April, 1896
April 1, 1891
Jan. 1, 1908

....

A* &
F. &
J. &
J. &
J. &
J. &
J. &
J. &

gg.
g.

O.

1901

j.

A. New York and

Feb. 1, 1910*
June 1, 1895

London.

D.
y
do
J. N. Y., F. P. James & Co.
J. N. Y., Metrop. Nat. B’k.
d: Augusta,Ga., RR. Bank.
J.
do
do
do
J.
do

July 1, 1902
July 1, 1890
Dec., 1879
yearly to 1890
July 1, 1897

’

'

J. & *J. N.
A. & O.
M. <fe S.

7*g.
7 g.
7

1899

Y., Winsjow, L. & Co.
do
do

18*99

do
do

1906

inches. 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 & Great
North’n RR. Operations and earnings for five years past were as follows:

Years.

Miles.-

1877.

50
50
50

*

50

Freight (ton)

Gross

Mileage.

Earnings.
$554,417

Earnings$216,628

581,773

Passenger
Mileage.

309,417
178,680

$
2,833,187

2,213,944

7,657,001
8,430,962

.

452,975
495,440
536,847

Net

184,596
229,560*

—(V. 28, p. 146, 172; V. 30, p. 43,192.)
Geneva Ithaca dk Sayre.—Geneva, N. Y., to Sayre, Pa., 76 miles. Or¬
ganized October 2, 1876, as successor of the Geneva Ithaca & Athens
Railroad, which had been formed by consolidation of the Geneva &
Ithaca and Ithaca & Athens railroads,
May 25,1874. That company
having defaulted on its interest was placed in the hands of a receiver,
March 4, 1875, and the road was sold in foreclosure. September 2,1876,
and this company organized in the interest of the Lehigh Valley Rail¬
road Company. The stock is $850,000 common, and also preferred
stock of $850,000 is authorized. Gross earnings, 1877-8, were $264,995;
expenses, $281,134; deficit, $16,138. R. A. Packer is President, Sayre, PaGeorgia Railroad dk Banking Company.—Augusta, Ga., to Atlanta, Ga.,
171 miles; branches to Washington and Athens, 60miles; total, 231
miles. The Western Railroad of Alabama, purchased in May, 1875, at
foreclosure, is owned jointly with the Central Railroad of Georgia. The
Macon & Augusta Railroad, 76 miles, is owned by this company, and its
earnings are now (1880) included in its operations. The Port Royal &
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 & Nashville system.
The annual report for the fiscal year ending March 30,1879, was pub¬
lished in the Chronicle, V. 28, p. 5ol, and contained the following:
INCOME STATEMENT.

The income of the company from all sources was as follows:

Net earnings of road
Net earnings of bank
Dividend on Atlanta & West Point Railroad stock
Dividend on Rome Railroad stock
Dividend on Nashville & Chattanooga Railroad stock
Western Railroad of Alabama, rent of rolling stock
Miscellaneous sources, coupons and interest...
Total
:
:
This income was applied as follows:
Dividend No. 67, 3 per cent paid July 15th, 1878
Dividend No. 68, 3 per cent paid December 20th, 1878
Interest on bonds of this company
Interest on bonds Macon & Augusta Railroad Company
Interest on bonds Western Railroad of Alabama
$93,080
Less paid by Western Railroad of Alabama
.*... 80,500—

$338,392
12,636
32,000
8,936
4,500

—

13,500
16,059-

$426,022:

$126,000
126,000
82,235

51,77T
12,580
14,735
5,553
3,011
4,124

Attorney’s fees and costs

Incidental expenses of company
'
Taxes
Balance

v

Total..!

;

The following table exhibits the operations, receipts and net
of the road for 1878-9 and 1877-8:

$426,022
earnings,

STATEMENT OF EARNINGS AND EXPENSES FOR THE YEAR ENDING MARCH

1877-8.

From local passengers
From through passengers

Total freight

Mail

Express and miscellaneous.
Total earnings*
Total expenditures

Net earnings

/.

$154,993
£

311878-9-

$175,150

36,902
784,711
28,664
8,439

$1,013,712
727,700

$286,012

24,744

$731,312
$29,630
36,871
$997,713
659,325
$338,392

*Earnings and expenses for 1879 include those of Macon & Augusta
Railroad, 76 miles, for seven months.
Earnings for five years past were as follows:
DivYears.
Gross Earnings.
Net Earnings.
p.c8
$1,281,907
$455,809
3
1,194,324
552,646
1,143,128
*
7
500,018
1,013,712
286,012 997,719
6
338,393
-(V. 28, p. 501.)
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.
Grand Rapids dk Indiana.—Fort Wayne, Ind., to Petoskey, Mich.,
332
*

STOCKS

RAILROAD

March, 1880.]
Subscribers will confer

a

81

BONDS.

great favor by giving Immediate notice of any error discovered In

DESCRIPTION.
For explanation of column headings,
on first page of tables.

AND

&c., see note

these Tables.

INTEREST OR DIVIDENDS.

Miles Date
of
of
Road. Bonds

Size, or

Amount

Par

Yalue. Outstanding

When

Where Payable, and by

Payable

Whom.

& J.
J. & D.

Rate per
Cent.

N. Y. Union Trust Co.
do
do

pal, When Due.
Stocks—LaBt
Dividend.

>«

Grand Rapids Newaygo &

35
46

Lake SJi.—1st mort. coup.

2d mortgage coup
Grand Trunk (Canada}—Consolidated stock
New stock for £10,000,000.
Debenture stock for £8,000,000 (act of 1874)
?
Canadian debentures
Equipment mort., 1st on all rolling stock
do
do
2d
do
1st pref. bonds, conv. into 1st pref. stock
2d
do
do
2d
do
3d
do
conv
Chic. & Gr. TrunkRR., 1st mort. (for £1,240,000)

Great Westetm (Canada)—Common stock.
Preferred 5 per cent, convertible into common...

1871
1875

1,390

.

•

•

$1,000
500, &c.

$576,000

£25
£100

•

1873
1875

....

....

....

1879

?30
495^

£20 ^

1874-569.

200,000
£3,486,787
7,500,000
2,582,000
3,111,500
500,000
500,000
3,218,149
2,327,808
7,166,910
500,000
£6,037,991
505,753
2,125,830

1868774-56 8118795.
Debentures
New bonds, coupon
Short bonds exchanged for bonds due 76, *77,
Qfeen Bay <£ Minnesota—1st mortgage, gold
Greenville <6 Columbia— 1st mort.,guar.by State
Bonds not guaranteed (various small issues)

New mortgage (for

’78.
.

..

$2,500,000)

Gulf Colorado <6 Santa Fe—

350
350
145
214
143

•

•

•

•

•

•

Bonds, secured by $2,500,000 Td notes.

1871-2
1877
1870
•

.

•

*

*

m

m

^

^

m.

£100
,

m

^

....

$100

•

m

•

•

100

•

1853-7

^

m

*

296
m

m

Various

1876

143

m

•

....

m

15
53
54
54

1st mortgage (Quincy & Palmyra RR)
1st mortgage (Kansas City & Cam. RR.)
Harri8b. Portsm’th Mt. Joy dt Lane.—Stock
1st mortgage
;

£100

’58-’79

*

Hannibal <6 St. Joseph—Common stock
Preferred stock (7 p. c. yearly, not cumulative)...
Missouri State loan
Bonds 1870, convertible

•

1870
1878
•

•

•

•

1867

1,000
..

1,000
•

^

•

•

•

»

50

1853

1,000,000

500,000
$3,200,000
1,413,071
632,237

(?)
10,000 p.m.
9,168,700

5,083,024
3,000,000

4,000,000
531,000
500,000
1,200,000
1,182,550
700,000

8
7

J.

-

July 1,1891
June 1,1905

r

"*6*g

o g.
5 g
5 g
4 g.
6
5-16

P

2Lj
5
6
7
7 g7
....

0. London, at Co.’s Office.
do
do
J.
do
do
J.
do
do
J.
do
do
J.
do
do
London & Montreal.
A. & O.

A.
J.
J.
J.
J.

&
&
&
&
&

do
do
A. & O.
J. & J. London Joint Stock B’k.
do
do
J. & D.
,

do
F. &. A.
....

—

do
New York,

Columbia, Co.’s Office.

April, 1877
Jan., 1920
Irredeemable.
Irredeemable.
Irredeemable.
1900

April, 1878
April, 1878

Perpetual.
Dec., 1890

e

Oct., 1880-82

Aug. 1, 1900.
1881 to

1886

do

do

....

-

6mm.

7
6
8
7
8
10

3ig
6

-

-

Aug., 1870
J. &
M. <fe
J. &
F. &
J. &
J. &
J. &

J. N. Y., B’k. No. America.
do
do
S.
J. N. Y., Farm. L. & T. Co.
A. N. Y., B’k. No. America.
do do
J.
J.
Phila., Co.’s Office.
do
do
»
J.

1884-1887
Mar., 1885
Jan. 1,1888

Jan., 1892
Jan., *1886
Jan. 1, 1880

July 1, 1883

£868 has been charged to the locomotive and car funds, and
£16,848 to working expenses, but no transfers to the reserve funds have
been made
City Railroad, 26 miles; total, 463 miles. This road was opened in May, debenture this half year. After charging the interest on bonds and
stock, &c., the half year’s net revenue exhibits a deficiency 4
1874. For the terms of the lease of Cm. Rich. & Fort Wayne Railroad—
see that company in this Supplement.
The Grand Rap. & Ind. RR. is of £10,172, but the credit balance from the previous half year reduces
operated in the interest of the Pennsylvania RR. Co., and $4,000,000 of this to £6,260, which will form a charge against future revenue. The
the first mortgage bonds are guaranteed by that company, which buys half-year’s dividend on preference stock, amounting to £12,644, has been
the coupons eacn year that remain unpaid by the earnings, and on Jan. also carried forward to the debit of the next half-year. During the half
1,| 1879, held $1,862,110 unpaid coupons. First mortgage bonds year £60,000 5 per cent perpetual debenture stock was issued. The
redeemed by the sinking fund are replaced by income bonds issued. amount at the debit of capital account had been reduced on July 31,
The company had land grants amounting to 1,660,000 acres, and sold 1879, to £2,156. The charges to capital account in the half-year amount
— in 1879 29,165 acres, for $338,630; the total lands yet unsold are to £20,453. Earnings for five years past were as follows:
Gross
Div. p. c.
Net
633,674 acres. Operations and earnings for five years past were as folMiles.
Earnings.
Years.
Earnings.
Pref.
lows:
£893,339
5
Net
511
£134,614
Gross
Freight (ton)
Passenger
5
511
830,857
177,525
Miles.
Earnings. Earnings.
Years.
Mileage. Mileage.
511
772,143
183,841 .
5
$267,108
332
35,764,557 $1,143,741
1875
13,907,593
527
277,079
860,935
5
316,507
332
1,137,539
33,713,086
1876
14,448,942
•
.....
..........
•••i
348,745
35,633,459
332
1,097,107
1877
14,077,030
242,458 —(V. 28, p. 474; V. 29, p. 146, 252, 329,*357; 458.)
1,200,629
332
42,437,701
1878
15,184,660
428,066
1,342,117
1879
Green Bay <t Minnesota.—Green Bay, Wis., to Winona, Minn., 214
miles. Road opened December, 1873. The company also uses the track
-(V. 29, p. 146, 299 ; V. 30, p. 91.)
Grand Rapids Newyago dc Lake Shore.—Grand Rapids to White from Winona to La Crosse, 29 miles, under lease, making 243 miles
Cloud, Mich., 46 miles. Extension projected to Flint & Pere Marquette operated. There are also 2d mort.'bonds, $779,000, 8 per cents, due Nov.
Railroad. A traffic guarantee with Lake Shore & M. S. provides that 1,1893, The company made default and was placed in the hands of a
40 per cent of earnings from this road shall be used to buy up its bonds. receiver, and the road is to be sold April 3,1880—(see Chronicle, V, 28,
Oross earnings in 1878, $118,019; net, $67,761.
Stock is $533,OOCk p. 401, which gives details as to the holders of bonds, &o. For the year
ending September 30,1879, from the report to the Wisconsin State Com¬
David P. Clay, President, Grand Rapids, Mich.
missioner, the following figures were obtained:
Grand Trunk ('Canada;.—Portland, Me., to Detroit, Mich., 896 miles; Total income
$348,690
branch lines owned or leased, 534 miles; total, 1,390 miles. The follow¬ Operating expenses
202,756
ing (included in the above) are leased lines: Atlantic & St. Lawrence
$145,933
RR., Portland, Me., to Island Pond, Yt., 149 miles; Lewiston & Auburn Excess of income
1,222
RR., Lewiston, Me., to Auburn, Me., 6 miles; Buffalo & Lake Huron Taxes.
Railway, Fort Erie, Can., to Goderich, Can., 162 miles; Chicago Detroit Rentals (specifying amount to each company), C. & N. W.
—
& Canada Grand Trunk Junction RR., Sarnia to Detroit, Mich., 59 miles.
Railway, and dockage at Green Bay
—.
20,266
The Grand Trunk forms a trunk line from Portland to Chicago by the Balance for the year, September 30,1879
124,444

miles; leased and operated: Cincinnati Richmond & Fort Wayne Rail¬
road, 92 miles; Allegan & Southeastern Railroad, 13 miles; Traverse

..

..

..

..

%

of which

Acquisition in 1879 of the Chicago & Lake Huron and other roads be¬ Capital stock authorized by charter
8,000,000
tween Detroit and Chicago, which are to be consolidated under the Amount of common stock at date of last report
7,995,900
name of Northwestern Grand Trunk.
The report for the half year end¬ Net cash realized from sale of bonds
2,967,480
1,710,616
ing June 30, 1879, was published in the Chronicle, V. 29, p. 510, con¬ Amount of unfunded and floating debt..;
taining the following: “ The following is the report of the directors for Aggregate of capital stock, funded and unfunded debt
13,686,376
the half-year ending June 30:
—E. F. Hatfield, Jr., is president, N. Y. City. (V. 28, p. 401; V. 29, p. 631.)
1878.
1879.
Greenville d* Columbia (S. C.)—Columbia to Greenville, 8. C., 144
The gross receipts upon the whole* undertaking, in¬
cluding the Buffalo and Champlain lines were.... £832,869 £883,807 miles; branches to Abbeville and Anderson, 21 miles; total, 165 miles.
Net receipts
210,388
213,210 The company also operates the Laurens Railroad, and owns a controlling
interest in the Blue Ridge Railroad. In 1872-3 the company funded
two years’ interest in new ten-yeai'bonds, and the new mortgage of 1876
Total charges
£210,661
was intended to cover all prior bonds.
The old issues include $236,000
Balance
327
1st mortg. overdue; $103,060 2d mortg.; $140,000 non-mortg.; $163,131 funded int.; and $123,500 mortg. bonds due 1895. In 1878 a receiver
£210,988
■“
The amoimt brought forward from the December (1878) half-year was took possession. Gross earnings in 1878 were $383,908; net, $181,659,
£17,390, out of which a dividend on the first preference stock at the against $180,614 in 1877. James Conner, receiver, Columbia, 8. C. (V.
rate of 1 per cent per annum was paid on the 1st of March last, absorb¬ 27, p. 227; Y. 28, p. 553.)
ing £16,075.” Earnings for five years past were as follows:
Gulf Colorado & Santa Fe.—Galveston to Richmond, Texas, 63 miles.
Net
Gross
Road opened late in 1878, and sold and reorganized April 15,1879. An
Earnings. extension is well in progress from Richmond to Brenham, Tex. John
Years.
Miles.
Earnings.
£408,475 Sealy, President, Galveston, Tex.
£2,000,394
1,388
.
*
407,862
1,960,218
1,388
Hannibal <£• St. Joseph— Hannibal, Mo., to St. Joseph, Mo., 206 miles-;
373,161
1,754,269
1,388
branches to Kansas City, 53 miles; to Atchison, Kans., 19 miles; to
469,851
1,390
1,906,264
Quincy, Ill.. 13 miles; total length operated, 292 miles. The main line
-8781
was opened February, 1859.
The company had a Congressional land
—(V. 28, p. 453, 474, 553; V. 29, p. 40,146, 252,' 301, 510, 51l'537, grant and received $3,000,000 in bonds from the State of Missouri, on
631; V. 30, p. 144.)
which the company pays interest. The total interest charge per year oti
Great Western of Canada.—Suspension Bridge, Canada, to Windsor, all the debt is $660,000.
On Jan. 1, 1879, the company had about
Canada, 229 miles; Loop line, Glencoe, Canada, to International Bridge, 90,000 acres of land unsold and $2,500,000 of land notes, which were
145 miles; branch lines, 151 miles; lines leased or operated on contract, pledged as security for the bonds issued in 1878, and as $25,000 is
294 miles; total operated, 819 miles.—The last semi-annual report was accumulated these bonds are drawn and paid. The stocks have been
published in the Chronicle, Y. 29, p. 458. The following summary footballs in Wall street for so long a time “that the memory of man run¬
■exhibits a comparison of the half-year’s results with those of the cor¬ neth not to the contrary.” Last annual report was published in the
responding half-year ended July 31,1878.
Chronicle, V. 28, p. 220. Earnings and operations for five years part
July 31,’78. July 31/79. have been as follows:
Net
Gross
Oross receipts, including the Galt & Guelph
Passenger
Freight (ton)
Earnings. Earnings.
Mileage.
Miles.
(now incorporated with the main line and
Years.
Mileage.
52,866,475 $1,748,284 $386,735
292
13,674,185
branches)
£383,460
£365,771
470,254
1,864,065
Cash working expenses, including renewals (be¬
76,931,978
15,191,834
292
795,479
1,931,365
80,764,682
292
15,639,718
ing at the rate of 75*43 per cent, as compared
780,355
with 75-93 per cent in the corresponding period
2,045,450
292
19,108,676 100,012,716
275,896
last year)
291,167
—(V. 28, p. 199, 220, 641; V. 29, p. 95, 383, 489.)
-

92,293

Interest
on

on

£89,875

94,024

100,047

bonds, debenture stock, <fcc., and loss

working leased lines

Deficit
£10,172
£1,731
The comparison is therefore unfavorable to the extent * of £8,441. The
expenditure upon renewals during the half-year amounted to £17,716,




Harrisburg Portsmouth Mount Joy <6 Lancaster.—Dillerville, Pa., to
Harrisburg, Pa., 36 miles; Columbia Branch: Middletown, Pa., to
Columbia, Pa., 18 miles; total, 54 miles. The property 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 la

operated

as a

part of the main line of the Pennsylvania Railroad.

32

RAILROAD

STOCKS

AND

BONDS.
.

Subscribers will confer

a

[Vol. xxx.

great favor by giving immediate notice of any error discovered
in these Tables.

DESCRIPTION.
Miles
Date Size, or
For explanation of column
of
headings, &c., see notes
of
Par
on first page of tables.
Road. Bonds Value.

Harrisburg <& Potomac—1st mortgage

....

Housatonic—Stock

Preferred stock
1st mortgage
2d mort. oonds of 1869
Equipment bonds of 1873
HoustfEasl <C West Texas.—1st mortgage, gold
Houston <£ Texas Cent.—1st M., (main) gold,
l.gr.,s.f.
1st mort., 1. gr., West div. (Hempstead to
Austin)
1st M., gold.Waco & N’west (Bremond to
Ross)
Consol, mort., land grant, Main and Westeni Div.
1
do
do
Waco & Northwest
Income and

i.20
120

....

74
....

1869
1873
1878
1866
1870
1873
1872
1875
1877
1854
1857
1865

Outstanding
$507,200

$....
100
100
9

•

•

•

820,000
1,180,000
100,000
300,000
150,000
125,000
6,262,000
2,270,000

75698781 7811874-965
indemnity bds, 3d M. on road & 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. onCh. & Sp. RR
Indiana Bloomington db West — 1st mort.,
pref
1st mortgage, coup., may be reg
Income bonds, reg., convertible i-

2d mortgage.
Ind. Cin. db La/.—Ind. & Cin. of 1858,1st mort
Indianapolis Cincinnati & Lafayette
do
do
do
Funded interest bonds, coupon

Equipment bonds, registered
Cin. & Ind., 1st mortgage
do 2d M., guar. ($i,000,000 due ’77

50
345
119
58
464

58

58
58
58
707

il2

202
202

202
90
151

179

20
20

ext. to ’92)

1864
1875
1874
1875
1877
1879
1879
1879
1879
1858
1867
1869
1873
1873
1862
1867

1,000
1,000
1,000
1,000
1,000
1,000
1,000
500

500

1,000

100
500 &c.
£200
£200
£200

1,000
100 &c.
500 &C.
100 &c.
500 &c.
500 &C.

1,000

1,000
150 &c.
500&C.

1,000
1,000

Harrisburg A Potomac— Bowmansdale to Jacksonville,
branch to mines, 2 miles; total, 27 miles. Extensions arePa., 25 miles;
projected to
Waynesboro and to Littlestown. Road opened through in 1878. Stock
is $369,175. Daniel V. Aid,

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Amount

969,000
3,642,000
580,000

2,500,000
416,000
367,500
1,500,000
29,000,000
2,500,000
2,500,000
4,393,000
1,000,000
1,600,000
600,000
3,500,000
1,500,000

1,500,000

1,600,000
2,800,000
1,767,000

Rate per

When

Cent.

Payable

7
2
7
6
7
7
7
7
7
8

g.
g.
gg-

3

7

353,000
499,000

10
7

1,497,000

7

successful, of

do

g.
g.
g.

6
6

M. & N.
J.
J.
J.
A.
M.
M.
A.
F.
A.
M.
A.
A.
A.
J.
J.
J.
A.

&
&
&
&
&
&
&
&
&
&
&
&

&
&
&
&

do

New York.

J. N. Y., Natl. City Bank.
J.
do
do
J.
do
do
O. N. Y., J. J. Cisco & Son.
N.
do
do
N.
do
do
O.
Philadelphia, Office.
A.
do
do
O.
do
do
S.
N. Y., Co.’s Office.
O.
N. Y., Co.’s Office.

0.
0.

1, -1904

Bridgeport & Boston. Jan. 15, 1880
Bridgeport and Boston.
1885

....

8

446,300

most

Q.-J.

F. & A.

Stocks—Lost
Dividend.

Jan.

....

7
7 g.
7 g.
7
6
6
5
5
6
7
3 to
6
3 to
7
7
7

Where Payable, and by
Whom.

pal,^When Due

London.

London,Morton R.& Co.

D.
J.

do
do
N. Y., Co.’s Office.
New York.
do

J.
O.

1889
1883
1898
July 1, 1891
July 1, 1891
July 1. 1903
Oct. 1, 1912

May 1. 1915
May. 1887
Oct.
Feb.

1890
1895
April 1, 1895
Mar. 1. 1880
April 1. 1890
1.

1.

April 1. 1895
April 1. 1903
Dec.
Jan.
Jan.
April

1, 1905
1. 1898

1, 1900
1, 1909
April 1, 1919
J. & J.
New York.
April 1. 1909
A. & O. N. Y., Amer. Ex. Bank.
April, 1888
F. & A.

J.
M.
M.
J.
J.

&
&
&
&
&

D.
J

the land

3uired aRailroad, to which it
controlling interest
irleans

do
do

do
do

Feb., 1897

do

D.
S. N.
S.

do

Jan.’82/87,’92

June, 1899
Y., Amer. Ex. Bank. Sep. ’78,’80,’83
do
do
Sept. 1, 1883
do
do
Dec., 1892

grant roads.

The company has

ac-

St. Louis .& New
in the Chicago advances, and owns
large

has made

President, Newville, Pa.
$1,600,000 of the first mortgage bonds, $5,023,000 of the second
Housatonic.—Bridgeport, Conn., to State line, Mass., 74 miles; leased: mortgage bonds, and 61,000 shares of the stock. The Chicago & Springfield Railroad was a reorganization of
Berkshire Railroad—Connecticut State line to West
Stockbridge, Mass., in 1877, and is leased to the Illinois the Gilman Clinton & Springfield
22 miles; West Stockbridge Railroad—West
Central and virtually owned
Stockbridge to New York The annual
State line, 3 miles; Stockbridge & Pittsfield
report for 1879 says: “ Comparing the net traffic with by it.
that
Railroad—Vandeusenville to of

Pittsfield, Mass., 22 miles*, New York Housatonic & 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 road docs a
from the following statement of its steady business, as may be seen
operations and earnings for five
years past:
,

Years.
1874-5.
1875-6.
1876-7.
1877-8.
1878-9.

Passenger
Mileage.

Miles.
126
126

126
126

Div.

Freight (ton)
Mileage.

6,419,375
6,057,566

14,368,979
14,557,208
11,658,923
11,528,000

5,869,968
6,162,592

•

Gross

Net

p. c.

Earnings. Earnings. Pref.
$680,785
8
$212,599
655,236
588,166
569,198

238,413
223,989
208,253

8
8
8

1878, the increase is $181,691. The net amount yielded in 1879
by
the traffic was $3,196,920, and the net
receipts from land, above all ex¬
penses, 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 St. Louis & 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 cars
built, and three heavy engines are in course of building in the have been
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, &c., have also been taken out of the income
account, these construction charges aggregating $386,016. After all

these deductions there is still a balance of income for the
year of $617,Houston East <£■ West Texas.—Houston,
Tex., to Trinity River, Tex., 61 204, which, added to $1,455,635 at credit of ‘ Income’ at the close of
miles. (Narrow guage, 3 feet.) It is intended to
buila to Marshall or previous year, makes $2,072,839 now carried forward to the credit
of
Shreveport. The company has a Texas land grant of 10,240 acres for that account.” Operations and earnings for five years
each mile constructed and
past were as
equipped. Bonds are issued to the extent of .follows:
$7,000 per mile. Paul Bremona, President, Houston, Tex.
Passenger Freight (ton) * Gross
Net
Div.
Years.
Miles.
Houston <6 Texas Central—
Mileage.
Mileage.
Earnings. Earnings, p.c.
Houston, Tex., to Red River City, Tex., 345 1875...?.... 1,108 50,828,505
284,650,911 $7,802,556 $3,813,109
miles; branches: Hempstead,Tex., to Austin,Tex., 119
8
1,108 51,238,031 264,602,314 7,040,969 3,195,326
Tex., to Ross, Tex., 58 miles; total, 522 miles. Opened miles; Bremond,
8
March 11, 1873.
1,108 46,076,845 .249,345,911 6,639,845 3,517,402
The Austin Branch, or Western
4
Division, was opened in 1871. The com¬
1,256 43,849,207 306,345,691 7,140,207 4,052,772
pany has a land grant from the State of Texas of
6
10,240 acres per mile,
amounting to about 5,240,000 acres; but the lands, as in the case of
7,249,182 4,207,763
6
other Texas roads, are not on the line of the
road, and much of the land —(Y. 28, p. 95, 198, 199; V. 29, p. 301; Y. 30, p. 91, 218.)
will be made available, it is
reported, by the construction of the Texas
& Pacific line. The capital stock is
Indiana Bloomington &
$7,722,900. In 1877 the
Westeni.—Indianapolis, Ind., to Pekin, III.,
was embarrassed and
application was made for a receiver; but company 202 miles; track used on rental, Pekin to Peoria, 10 miles; total operated,
the ditn- 212
culties were actuated by the issue of income and
miles. This was formerly the Indianapolis
Bloomington & Western,
indemnity bonds, and
the prosperity of the road has since
greatly increased. The last annual opened October 1,1869. The company defaulted October 1,1874, and a
receiver was appointed December 1,1874. The road was sold in
report, to April 30,1879, gave the following:
fore¬
closure October 30,1878, and the present
Gross earnings
company
$3,031,631 new securities were placed on the New York Stock organized. The
Net earnings
Exchange list No¬
1,326,906 vember, 1879, on the following statement: 1. Preferred first
Interest charges
mortgage
1,058,315 7 per cent bonds, due in 1908, to the amount of
Net earnings in 1878
$1,000,000. 2. First
930,042 mortgage bonds, due in 1909, to the amount of
$3,500,000. Interest is
GENERAL BALANCE, APRIL
payable at the following rates: 3 per cent per annum for the first three
30, 1879.
years, 4 per cent for the succeeding two years, 5 per cent for the suc¬
Construction
$21,870,020 Capital stock
$7,722,900 ceeding three years, and then 6 per cent until
Equipment
maturity.
1,831,342 Funded debt
14,586,500 by its terms, cannot be foreclosed for non-payment of The mortgage,
Real estate
interest until
974,153 School fund loan (State
Lands gr’nfd by Texas
January 1,1884. 3. Second mortgage bonds to the amount of $1,500,of Texas)
5,240,000
000. These bonds are payable in
315,494
1919, and bear 3 per cent per annum
Sundry securities
503,780 Bills payable
2,106,557 interest for the first three years, 4 per cent for the
Materials and
sup¬
Accounts payable
157,929 5 per cent for the succeeding three years, and succeeding two years,
6 per cent thereafter
plies
146,988 Pay-rolls and vouchers
178,794 until maturity. 4. $1,500,000 income bonds,
Bills receivable and
payable 1919, with such
Interest accrued
330,319 interest from July 1,1879, not exceeding 6 per cent per
cash
annum,
353,302 Surplus
5,521,091 net earnings may suffice to pay.after satisfying the interest and as the
sinking
fund upon the preferred and fi£*st and second
Total
mortgage bonds. These
$30,919,587
Total
$30,919,587 bonds are convertible into stock. 5. $2,500,000 capital stock. 6.
—(V. 29, p. 41, 118, 119.)
$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
Huntingdon & Broad Top.—Huntingdon, Pa., to Mt. Dallas,
per cent on
Pa,, 45 the common stock. After the payment of a 7 per cent
Iniles: branches—Shoup’s
dividend, the
Run, 9 miles; Six-mile Run, 4 miles; and Sandy stock
3 miles; total, 61 miles. This road
scrip is convertible into common stock. Of the preferred
was opened in
July, 1856. The $600,000 have been issued to pay expenses of foreclosure and bonds
capital stock is $930,000 common, and $1,122,800
prior
7 per cent preferred liens, and $400,000 more
stock. Interest was passed for a
may be issued if needed. Earnings for four
time on the consolidated
mortgage years past of I. B. & W. (including extension) and for last year, 1878-9, of
bonds. The freight business is
mainly
have been as follows for the past five in coal. Operations and earnings present company were as follows:
years:
Gross
Net
Passenger
Years.
Gross
Net
Miles.
Freight (ton)
Earnings.
Years.
Earnings.
Miles.
Mileage.
*

1878.......

1879

61
61
61
61
61

Mileage.

896,175
1,041,203
914,302
754,787

14,940,303
11,693,975
10,369,597
12,146,492

—(V. 30, p. 168.)

Earnings.

Earnings.

$325,011

$120,442

272,456
261,410
238,890
253,525

95,448
110,077
132,693
141,304

Illinois Central.—Cairo, HI., to
Chicago, IU., 365 miles; Northern Div¬
ision—Centralia to Dunleith, 341 miles; other lines
owned and leased—
Kankakee & Southwestern RR.,
Otto, Ill., to Chatsworth, IU., 56 miles;
Chicago & Springfield RR., Gilman to Springfield, 111
miles;
Sioux
City RR 143 miles; Iowa Falls & Sioux City RR., Dubuque &
184 miles;
Cedar Falls &
76
This company Minnesota,RR., in miles; total operated, 1,274 miles.
was organized
March, 1851, and the whole
opened September, 18o5. The terms of the leased lines in Iowaroad
are

fiven under the names of those companies. The general
274?»?videsfora11 1)011(18 outstanding. It-is limited to
.

The

Illinois Central




was

one

of

the first, and has

mortgage of

$15,000,000.

been

one

of the

343
343
343
334

$1,432,352
1,558,418
1,281,241

1,342,323

$317,044
522,980
334,711
266,079

—(V. 28, p. 18, 146, 221,224, 276, 302, 352, 401, 526; Y. 29, p. 277,
302, 329, 511; V. 30, p. 169, 192.)

Iiulianapolis Cincinnati <£* Lafayette.—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. This was a consolidation in 1876 of the
Indianapolis & Cincin¬
nati and the
Lafayette & Indianapolis railroads, the company taking a

perpetual lease ot the Cincinnati & 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 receiver
again was appointed, and the road was sold in foreclosure in 1880, and
a new
compaiiy has been organized under the name of the Cincinnati
Indianapolis St. Louis & Chicago Railroad, under which, name it will

Subscribers will confer a great

first page of

tables.

Size

or

Amount

par

Outstanding

Value.

781
1874-569
•

! 71

2d mortgage

•

Equipment bonds
Indianapolis d Vincennes— 1st mortgage, guar
2d mortgage, guaranteed
’

2d
Iowa Falls d Sioux City—Stock
1st mortgage. April 1, ’69
Ithaca Auburn d West— 2nd M. (incomefor 3 yrs).:
Jacksonv.. Pens.d Mob— Florida State bonds, gold...
Jacksonville d Southeast— 1st mortgage

(Hawley Branch)..

Carbondale)

Jeffersonville Madison d Indianapolis—Stock
Indianapolis & Madison, 1st mortgage
Jeff., Mad. & Ind., 1st M. (s. f. $15,000 per year).

5781

71

•

•

.

1876

1876

Bonds—Princi¬
pal,When Due*,,

1869
1870

1871

500 <fcc.

do
do
2d mortgage
Jersey City d Albani/— 1st mort. (for $5,000,000)...
Jersey City d Bergen—1st mortgage
Joliet d Northern Indiana—1st mort., guar by M. C.

mortgage

Junction d Breakwater—Funded debt (Del. St. loan)
Kansas Central—1st mortgage (for $2,400,000)
Kansas City Burlington d Santa Fe—1st mortgage.

1879

i, 6‘do

519

1879

500 <fcc.
100
500 &c.

....

184
....

250
30
9
38
226
86
159
159

6
44

....

1,000

....

...

1869
1877
1870
1867
1869
....

1862
1866
1870
1878

....

....

1,000
1,000

100
500 &e.

1,000
1,000
1,000

1879

when
$7,500,000 first
secured on the entire
property, and $4,000,000 in capital stock. Of the $7,500,000 new bonds
to be issued, $0,885,000 is reserved, into which all of the old bonds, prior
to the Indianapolis Cincinnati & Lafayette 7s of 1869, may be exchanged
at their par value, leaving a surplus of $615,000 in new bonds. The
other securities are: Indianapolis Cincinnati & Lafayette 7s of 1869, $2,087,750; I. C. & L. funding debt 7s (in which is included the old preferred
stock), $1,419,300, and the common stock, $5,587,150. These securities
appear in this Supplement when perfected. The new
all its securities are issued, will have a funded debt of
consolidated 6 per cent bonds, due in 1919, to be

company,

do

Oct,

1908
1900

191S*
1905*

Q.-F.

N.

Y., Farm. L. & T. Co.
do
do
do
do
do
do
New York.

....

1887 & 1880
Jan. 1, 1880
Feb.. 1880

May 1, 188i
Oct, 1, 1906
July 1, 1910
July 10,190T
July 1. 1882:
April 1, 1900
1890

....

April 1, 1909*

A. & 0.

7
8

1907T

1908

& J. N. Y., Farm. L. & T. Co.
& J.
Philadelphia Office.
do
do
O.

J.
J.
A

1879*
1899*

1908

New York.

M. & N.
A. & O.
J. & J.

7
7
6
6

600,000

1, 1900

July 1, 1883,

do

& J. Honesdale Nat. Bank.
& J. N. Y., by Erie Railroad.

J.
J.

....

633,000
504,000

Jan. 1, 1906
July 1, 1906*
July 1, 1919*

Y., National City B’k

J. & J.

7
7
7

(?)

Stocks—Last
Dividend.

Nov. 1,
Sept. 1,
Dec. 1,
Boston.
Q.-M.
A. & O. N. Y., Nat. Park Bank. April 1.
Jan. 1,
J. &’J.

1^4

455,000
300.000

42

Whom.

M. & N. N.
M. & S.

6 g.
8
1
7
7
8
7 g.
7
7

454,000
800,000

.....

*84

8
7
6

2,000,000

1,00*0

Where Payable and by

A. & O. New York, Co.’s Office.
do
do
J. & J.
Various N. Y., Union Trust Co.
do
do
A. & O.
do
do
J. & J.
F. & A. N. Y., Farm. L. & T. Co.
do
do
M. & N.

7 g.
7
7
7

397,000
2,395,000

1,000
1,000

1877

4*2

Cent.

2,000,000

-

When

Pay’ble

Rate per

$1,500,000
2,850,000
2,000,000
1,000,000
500,000
1,700,000
1,450,000
5,500,000
5,624,000
4,724,000
4,625,000
2,960,COO
498,090
4,000,000
610,000
300, uOO
2,000,COO

$1,000
1,000
1,000
1,000
1,000

117
117
519
519

mortgage, “purch. money,” gold
mort. income ‘‘purchase money”

Junction (Philadelphia).—1st
2d mortgage

1

.

International d Great Northern— Consol, stock

Jefferson (Fa.)—1st & 2d morts.
1st mortgage (Susquehanna to

discovered in tliese Tables*

INTEREST OR DIVIDENDS.
Miles Date
of
of
Road. Bonds

152

1st

33

BONDS.

favor by giving immediate notice of any error

DESCRIPTION.
on

STOCKS AND

RAILROAD

March, 1880. J

>4

Years.

Passenger
Mileage.
9,008,250

Miles.
519
519

7,841,041

Freight (ton)

Gross

Net

Mileage.

Earnings.

$1,560,455

Earning*^
$466,248'

1,636,585
1,775,861

571,983*
597,396

35,909,691
39,579,080

V. 29, p. 41, 120, 357, 459; Y. 30,p. 91,169, 248. >
Iowa Falls & Sioux City.—Iowa Falls, la., to Bioux City, la., 184 miles.
This road was opened in 1870 and leased to the Illinois Central at a
rental of 35 per cent of the gross earnings, which percentage in 1878?
amounted to $166,692 and in 1879 to $168,454. This company also*
are to be provided for as follows:
The 7s of 1869 are to receive 70 per receives a drawback of 10 per cent on business to and from their line
cent of their face in new stock, and the funded debt 7s, or preferred over the Dubuque & Sioux City Railroad; also a rental from Sioux
stock, 40 per cent. This will leave a balance of new stock of $2,029,045, City & St. Paul Railroad, which amounted in 1878 to $17,535. Horacewhich, with the balance of new bonds, $615,000, will be offered as fol¬ Williams is president, Clinton, O.
lows : To the 7s of 1869,10 per cent in bonds and 30 per cent in stock
Ithaca Auburn d Western..—Frceville to Scipio, N. Y., 27 miles. The?
for 10 per cent cash; to the funded debt 7s, 20 per cent bonds and 60
per cent in stock for 20 per cent cash; to the common stock, 2 per cent New York & Oswego Midland Railroad was sold in foreclosure, and thia;
bonds and 6 per cent in stock for 2 per cent cash. Operations and earn¬ company organized Sept. 20, 1876, as the successor.
The stock iSi
$970,000, and there is a first mortgage authorized of $500,000. George
ings for five years past were as follows:
Net
Gross
Opdyke, President, N. Y. city.
Passenger.
Freight (ton)
Earnings. Earnings.
Mileage.
Years.
Miles.
Mileage.
Jacksonville Pensacola & Mobile—Lake City, Fla., to Chattahoochee^
52,677,120 $1,767,231 $670,980 Fla., 150 miles; branches: Junction (main line) to Monticello, 4 miles j
24,055,103
194
673,098
1,637,061
52,465,909
22,113,531
194 •to St. Mark’s, 21 miles; total, 175 miles. The present com¬
490,810 Tallahassee
1,311,210
38,803,669
194
19,244,431
494,388 pany was organized in 1870, and the State of Florida issuejrto the com¬
1,309,087
41,000,163
194
18,971,743
507,920 pany $4,000,000 of State bonds in exchange for $3,000,000 of the con*1,342,701
—(V. 28, p. 351, 428 ;

pany’s first mortgage bonds and $1,000,000 of the Florida Central Rail¬
401, 526; V. 29, p 18, road first mortgage bonds. Interest has been in default and the roa&
30, p. 168,192.)
has been in the hands of a receiver. Net earnings in 1878, $14,429.
(VIndianapolis Decatur & Springfield.—Decatur, Ill., to Indianapolis, 28, p. 578, 599.)
Jacksonville d Southeastern.—Jacksonville, to Virden, Ill., 31 miles.
Ind., 152 miles. The first ana second mortgage bonds were placed on the
N. Y. Stock Exchange list in January, 1880. This company is successor This was the Jacksonville Northwestern & Southeastern Railroad, pro¬
to the Indiana & Illinois Central Railroad. The firsts are for $1,800,000, jected from Jacksonville to Mount Vernon, 125 miles, and finished
with $1,500,000 issued and the limit fixed by resolution at that sum, above. Bonds were issued at $20,000 per mile, amounting to $600,000..
maturing in 1906, bearing 7 per cent interest; the seconds are $2,850,- In 1879 the company was reorganized by the bondholders under this;
000 in amount, convertible into stock after January 1, 1885, with the name. M. P. Ayers, Jacksonville, Ill.,.was the former president.
first.ten coupons payable only out of net earnings but to be paid in
Jefferson.—Susquehanna Depot, Pa., to Carbondale, Pa., 37 milesg
scrip if net earnings are insufficient, and have thirty years to run. The branch:
Pa., to Honesdale, Pa., 9 miles; total, 46 miles..
stock, of which very little is issued, is $500,000 in $50 shares. Gross Leased inHawley,
perpetuity to the Erie Railway at a rental of 7 per cent on the*
earnings in 1878 were $110,347; net, $28,965. (V. 28, p. 277, 624; V. bonds, ananow operated by the New York Lake Erie & Western. Capi¬
30, p. 67.)
tal stock, $2,096,050. Edward Clymer, president, Reading, Pa.
Indianapolis d St. Louis—Indiannpolis, Ind., to Terre Haute, Ind., 72
Jeffersonville Madison d Indianapolis.—Louisville, Ky., to Indianapolis^.
miles; leased line, Bt. Louis Alton & Terre Haute, 189 miles, and
branches, 6 miles; total operated, 267 miles. The lease of the Bt. L. A. Ind., 112 miles; branches, 113 miles; total owned and operated, 225;
& T. H. was guaranteed by two other companies, and suit has been miles. The road was leased January 1,1873, to the Pennsylvania Com¬
pending as to the rental. The company is controlled by the Pennsyl¬ pany, the lessees to pay the interest and sinking fund of bonds and 7 per*
vania Company, which owns the stock of $600,000, in connection with cent per annum on the stock. The lease was guaranteed by the Pennsyl¬
the Cleve. Col. Cin. & Ind. Of the first mortgage bnuds series ‘‘A” are J. vania Railroad. Earnings for five years past were as follows:
Net
Gross
<fc J.; series “B,” M. & 8.; series “C,” M. & N. Operations and earn¬
Earnings.
Earnings.
Miles.
Years.
ings for five years past were as follows:
$468,281
161
$1,224,147
1875
Freight (ton)
Gross
Net
Passenger
444,005
161
1,171,874
Miles.
Years.
Mileage.
Mileage.
Earnings. Earnings. 1876
499,033
161
1,176,174
265
1875....
11,922,681
79,811,222 $1,513,881 $325,996 1877
425,887
185
1,150,014
265
1876....
10,889,483
100,902,991
1,657,863
431,645 1878
266
8,211,025
477,882 1879
1877....
92,684,115
1,385,874
266
1878....
85,300,579
1,347,246
315,115 -(V. 28, p. 378.)
10,865,239
194

'

—(V. 27,‘p. 172, 303, 354,383; Y. 28, p. 302,
95, 277, 302, 405, 433, 459, 538, 563, 680; V.

.

.....

.

.

.

^

Tappatt4877*.

1879....
Jersey City d Albany.—Linc^f road: Jeisey City, N. J., to
—(V. 27, p. 41, 409, 454, 603; V. 28,*p. 377; V.
town, N. Y., 24 miles. This company ivas organized September,
Indianapolis d Vincennes.—Indianapolis, Ind., to Vincennes, Ind., 117 as successor to the Jersey City & Albany, which was a consolidation of
miles. The Pennsylvania Company owns a controlling interest in the the Ridgefield Park and Rockland Central railroads sold in foreclosure.
stock and operates the road, advancing the deficiency to pay interest on The stock authorized is $10,000,000. The latest information in regard
p.
the bonds. The capital stock is $1,402,000. In 1878 tne net earnings to the progress of the road was published in the Chronicle, >r.
433. (V. 28, p. 624; V. 29, p. 433; V. 30, p. 144.)
were $5,349; in 1877, a deficiency; in 1876, $17,973: in 1875, $32,709.
The annual interest on the debt amounts to $206,000.
(V. 28, p. 18,
Jersey City d Bergen.—Jersey City to Bergen Point, N. J., 6 miles.
In
377.)
1878
earnings
$224,817; net, $80,421. Stock
.....

....

29,*p. 95*. j*

29,

International d Great Northern.—Longview, Tex., to Houston, Tex.,
236 miles, and Palestine, Tex., to Austin City, Tex., 181 miles; branches—

Troupe, Tex., to Mineola, Tex., 44 miles; Phelps, Tex., to Huntsville,
Tex., 8 miles; Houston, Tex., to Columbia, Tex., 50 miles; total, 519
miles. This was a consolidation of the Houston & 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. Bales 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.
the lands of the company, amounting to about

In the reorganization

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 overdue interest on the first mortgages and for
other purposes. Interest at 4 per cent for the year 1879 is paid on
these—2 per cent Nov. 1 and 2 per cent Sept. 1,1880. Extension of
100 miles is in progress. Operations and earnings for five years past
were as

Years.




follows:
Miles.
459
459

Passenger
Mileage.

7,206,313
7,883,200

Freight (ton)
Gross
Earnings.
Mileage.

25,493,165
30,017,841

$1,408,303
1,453,996

Net
Earnings.

$615,963
591,872

gross
Charles B. Place,

were

President, Jersey City.

is $110,100.

Ind., 45 miles.
main line. Road opened inr
8 per cent on the bonds. The
Michigan Central declined to pay 8 per cent, and the above issue ot
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 stocky
$250,000. Net earnings in 1878 were $87,963. Dividend, 14 per cent.
Junction d Breakwater.—Harrington to Lewes, Del., 40 miles; branch
to Relioboth, 5 miles; total, 45 miles. Gross earnings, 1S77-8, $72,051 j
net, $30,395. Stock is $312,500. N. L. McCready, President, N. Y. City..
Kansas Central.—Leavenworth to Onaga, Kan., 84 miles. Sold under
foreclosure of first mortgage April 14,1879.
Reorganized April, 1879.
Stock, $504,000. L. T. Smith, President, Leavenworth, Kan.
Kansas City Burlington d Santa Fe.—Ottawa Junction to Burlington*.
Kan., 43 miles. Road opened April 1,1878. Stock, $600,000. Wm.H».
Joliet d Northern

Indiana.—Joliet, HI., to Lake Station,

Operated as part of the Michigan Central
1854 and leased to the Michigan Central at

Schofield, President, Burlington,

Kan.

34

RAILROAD

Subscribers will confer

STOCKS

Miles
Date
Size, or
For explanation of column
of
headings, &c., see notes
of
Par
on first
page of tables.
Road. Bonds Value.

6781

Kansas City Fort Scott dk Qulf— 1st m. 1.
Kansas City Lawrence dk Southern—1st gr. s. f
mortgage..
Kansas City St. Josephs Council
Bluffs—Stock
1st mortgage, Council Bluffs & St
Joseph
Kansas City, St. Jo. & C. Bl.,
mortgage
do
do
income bonds, reg...

161
145

1879
1879

274
52

..

99
mortgage
99
Keokuk dkDes Moines—1st
M., int. guar. C. R. I. & P.
162
hnox dk Lincoln— 1st
mortgage
49
Knoxville ct Ohio—1st mortgage
38
Lake Erie dk Western—Stock
365
1st mortgage, gold
165
Income bonds convertible (not
cumulative)
Lafayette Bloom. & Muncie, 1st mort., gold
200
do
do
income M. con. (non-cumul.)
200
Lake Shore dk Michigan
Southern—Stock
! 1181
Guaranteed 10 per cent stock
Consol. 1st mort., (sink,
fund, 1 per cent) coupon. 864
do
do
do
registered
864
2d mortgage, do. (for
$25,000,000) coup, and reg.
864
Income bonds,
coupon or registered
1st mortgage, sinking fund, M. S. & N.
I
451
3d mortgage (C., P. & A. RR.)
registered bonds..
95
Lake shore dividend bonds,
April, 1869
258
1st mortgage (C. & Tol.
RR.) sinking fund
162

[Vol. XXX.

2d

mortgage
do
Buffalo <fe Erie, mortgage bonds

.

.

Det. Monroe & Tol., 1st mort.,
coup., guar
Kalamazoo <fc White Pigeon, 1st

mortgage

100 Ac.

.

.

lOO&c.

2,750,000
2,395,000
500,000
7,000,000
1,815,000
V 85,000
2,500,000

....

1,600
1,000
1,000
1,000

1,000
1,000
1.000

1,000
1,000
1,000
500 Ac.

1,000
1,000
1,000
1,000
500 &c.

1,000
*

•

•

•

F. & A. N.

August.

1909

Y., Metropolitan Bk
do
do
do

Yearly.

49,466,500

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

533,500

|

Dividend.

*M\ & N.

1,000,000

100
100

Whom.

J. &"j.
Boston, at Office,
J. & J.
do
do
A. & O.
do
do
M. & S. N. Y., Bank of
America.
J. & D.
do
do
A. & O. N. Y.,Farm. L. & T. Co.
Various Bath, First Nat. Bank.

2,488,174
844,000
237,000

1,000
1,000

Bonds—Princi¬
pal,^When. Due.
Payable, and by Stocks—Last

Boston, Co.’s office.
Boston, Office.

& J.
& J.

J.

4,495,522

100

.'

1870
1870
1873
1872
1855
1867
1869
1855
1866
1862
1866
1868
1876
1869

.).
4 to 6

2,789,413
500,000

....

.

162
88
88
88
62
57

do
do

1,000

....

1879
1879
1879
1879

INTEREST OR DIVIDENDS.
Rate per When Where
Cent.
Payable

$4,000,000
5,500,000

100

’69-’72

....

..

Outstanding

....

1877
1853
1855
1878

.

Amount

$1,000
.

1866
1877

274

Kentucky Central—2d mortgage
3d

do

BONDS.

great favor by giving immediate notice of
any error discovered in tbese Tables.

a

DESCRIPTION.

do

AND

8,159,000

N.Y.,Grand Cent.Office
do

do

c| 2

Q.-J.

9,350,000
3,150,000
5,255,000
920,000
1,356,000
1,595,000
849,000
200,000
300,000
2,834,000
924,000
400,000

do
do
do

gp S*
^

Jan. 1, 1907

March, 1883
June, 1885
Oct. 1, 1923
1880-1902
Jan. 1, 1892

Aug. 15. 1919

Aug. 15, 1899
May 1, 1919
May 1, 1899
Feb. 2, 1880
Feb. 1, 1880
July 1, 1900

July 1, 1900
Deo. 1, 1903

<D-*J Co

J. & D.
A. & O.
M. & N.
A. & O.
A. & O.
J. & J.
A. & O.
J. & J.
M. & S.
A. A O.
F. & A.
J. & J.

1, i880
1, 1907

Jan.

Jan.

Pill

Oct.

1, 1882

May 1, 1885

Oct.

1,
April 1,
July 1,
April 1,
July 1,
Sept. 1,
April 1,
Aug. 1,
Jan. 1,

•3 3

<*!£ 8

btf

mii
a

1892
1899
1885
1886
1882

1886
1898
1906

1890

Kansas City Fort Scott dk Gulf.—Kansas
City, Mo., to Baxter Springs, Bloomington A Muncie and the
Kan., 160 miles. In Feb., 1880, acquired the
Lake Erie & Western. The line
embraces
Memph. Kan. & Colorado the former Lafayette Bloomington &
Railroad, 44 miles. This company was organized
Mississippi road and the Lake Erie
April 1,1879, as succes¬ & Louisville. (See the
sor to the Missouri River Fort
Scott & Gulf, which made default Oct.
following pages in the Chronicle : V. 29, p. 329,
8, 407, 538, 631; V. 30, p. 17.)
1873, and was sold in foreclosure
February 4, 1879. The stock is
$4,000,000 common and $2,750,500 8 per cent
preferred.. The first
Lake Shore dk Michigan
mortgage bondholders of the old road took 80 per cent in
Southeim.—Buffalo, N. Y., to Chicago, Ill., 540
the new mort¬ miles; branches
owned, 324 miles.
gage bonds, and for all other claims stock was issued.
Oth£r lines
Operations and Detroit Monroe & Toledo, 62 miles; Kalamazoo owned as follows:
earnings for five years past have been as follows:
A White Pigeon, 37
miles; Northern Central (Michigan), 61
miles; total, 160 miles. Roads
leased are as follows: Kalamazoo
Passenger Freight (ton)
Gross
Net
Allegan A -Grand Rapids, 58 miles;
Years.
Miles.
Jamestown A Franklin,
Mileage.
Mileage.
Earnings. Earnings. total, 152 miles. Total 51 miles; Mahoning Coal Railroad, 43 miles;
1875
160
3,953,320
road owned, leased, and
23,054,779 $677,843 $196,910
operated, 1,177 miles.
This company was a consolidation of
160
4,589,110
30,567,648
the Lake Shore Railroad and
902,094
229,222
1877
160
Michigan Southern A Northern Indiana Railroad
4,977,670
28,131,154
865,734
227,177 Buffalo A Erie
May 27,1869, and the
1878
160
Railroad August 16* 1869.
5,203,933
32,301,278
The consolidated line em¬
833,835
115,567 braces the former
1879
roads of the Cleveland A Toledo and the
Cleveland
—(V. 28, p. 42, 146, 624; V. 29, p. 538; V. 30, p.
Painesville A Ashtabula railroads. The last
222.)
annual report is published in
V. 28, p. 473, containing the tables
Kansas City Lawrence dk
below, showing
Southern.—Lawrence, Kans., to Coffeyvilte the earnings of the road for a series of years. The the operations and
financial results of
the nine years since consolidation are
shown by the
miles; branch to Parker, 2 miles;
ansae City <fc Santa Fe
following condensed
Railroad, 32 miles; Southern Kansas, 10leased: table:
miles;
Kansas City Fort Scott & G., 21
miles; total owned, leased, and operated,
209 miles. This company were
Operating
Interest, leases
formerly the Leavenworth Lawrence A
Gross
Expenses.
Net
Galveston Railroad, which was sold in
and dividends
Div.
foreclosure August 9,1878, and Year. Miles.
Per cent. Earnings, on Guar. Stock,
Earnings.
purchased by bondholders, and the present
p. c.
1870.. 1,013
$13,509,236
6195
company organized May,
1879. Capital stock is $—
$5,140415 $1,828,897
8
In 1878 the net
earnings were 1871.. 1,074
14,898,449
65*64
5,118,643
2,121,164
8
in 1876, $219,374; in 1875, $143,483. 1872.. 1,136 17,699,935 66*90 5,860,409 2,201,459
'he present bonds carry 4
8
per cent till 1882; 5 in 1882-3; and 6 after. 1873.. 1,175
19,414,509
70*90
—(V. 28, p. 42, 351, 401, 623.)
5,667,911
2,654,560
4
1874.. 1,175
17,146,131
65*04
5,993,760
3,008,193
3H
1875.. 1,175
Kansas City St. Joseph dk Council
14,434,199
72*96
3,902,698
Bluffs—Kansas City, Mo., to
2
2,810,294
Bluffs, la., 199 miles; branches, 5 miles; Chicago line: Amazonia Council 1876.. 1,177
13,949,177
68*64
4,374,341
2,759,989
to Iowa 1877.. 1,177
3H
line, 50 miles; total, 254 miles. Line
13,505,159
66*37
4,541,193
2,775,657
actually owned is 249 miles, and 1878.. 1,177
2
the other 5 miles are used on the track of
13,979,766
60*70
5,493,165
4
2,718,792
connecting roads. In 1874
overdue coupons to the amount of
were funded in 7 per cent The following condensed tables show
$640,200
the freight and
notes. Afterwards default was
passenger business
again made, and a plan of re-adjustment for the past five years, 1874-1878:
was carried

gndiana Ter. line), 144

.

?158,265; in 1877, $144,365;

out, under which the stock and bonds were issued as
above.
Nathaniel Thayer is
president, Boston, Mass. Earnings for five years
past were as follows:
Years.
1875
1876
1877
1878

Gross

Eara’gs.

Net Earn’gs.

$1,362,706
1,241,329
1,423,797
.....

1879

.

1,533,651

$351,869
326,397
434,264
448,059

—(V. 28, p. 350, 599.)

Kentucky

Central.—Covington, Ky., to Lexington, Ky
Paris, Ky., to Maysville, Ky., 50 miles; total, 149 miles. 99 miles, and
This was for¬
merly the Covington & Lexington Railroad, which was foreclosed in
1865. In 1875 the present
company was formed, and took
May 1, 1875. The Maysville A Lexington Railroad was possession
taken Nov.
17, 1876. The preferred stock is $500,000 and
$4,500,000. In May, 1879, dividends were paid ofthe common stock
3 per cent on pre¬
ferred stock and 1 per cent on common.
Operations and earnings for
tour
Gross

Years.
Miles.
1875-76 ..I.... 99
1876-77
149

-

c

Net

Earnings.
$663,113

706,476
648,342
553,389

149
149

Earnings.
$307,572

.

/—Divid’s, p.ot.—^

304,007
246,694

208,750

Pref.
6
6
6
6

Com.

3*2
4
3
2

Keokuk dk Des
Moines.—Keokuk, la., toTDes Moines, la., 162 miles.
This was a reorganization,
January 1,1874, of the Des Moines Valley
Eastern Division, sold in foreclosure
October 17,1873. The
was leased for 45
property
years from October 1,1878, to the
Chicago Rock Island
A Pacific Railroad on the terms
following: that the lessee pay 25 per
cent of the gross
earnings to this company, but guarantee the interest
(not the principal) on the present bonds.
The stock is $1,524,600 of 8
per cent preferred and $2,600,400 of
common, a majority of which is
held by the lessee. In the
year 1878-9 gross earnings were
$565,556,
showing a small surplus balance to this company.
Knox dk Lincoln.-Bath,
Me., to Rockland, Me., 49 miles. The road
opened in November, 1871. In the
gross

earnings

$354,580.

were

$111,000

year

ending September 30,1878, the

and net earnings

$56,937.

The stock is

by the East Tennessee Virginia A Georgia. Net
earnings, 1877-8,
The stock is $1,080,100. C. M.
McGee, President,

$36,262.

Knoxville,

Lake Erie dk Western.—From
Fremont, O., to
miles. This was a
consolidation, December




1874.

5,221,267
5,022,490
5,635,167
5,513,398
6,098,445

1875.
1876.
1877.
1878.

Bloomington, III., 365
12,1879, of the Lafayette,

1

Receipts

Tons
mile.

Tons.

one

999,342,081
943,236,161

1,133,834,828

1,080,005,561
1,340,467,821

Cost

Profit

per ton per ton
pr. mile. pr. mile.

Revenue,
$

11,918,350
9,639,038
9,405,629
9,476,608
10,048,952

Cent.
1*180
1*010
*817
*864
*734

•

per ton

pr.mile.

Cent.
*767
*737
*561
*573
*474

Cent.
*413
*273
*256
•291
•260

PASSENGERS.

Receipts
Year.

Passengers.

1874.
1875.
1876.
1877.
1878.

3,096,263
3,170,234
3,119,923
2,742,295
2,746,032

one

Cost per

per pas¬

Passengers

passen¬ per pas¬
ger per senger

senger

mile.

Revenue. per mile.
Cent.
$

173,224,572

4,249,022
3,922,798
3,664,148
3,203,200
3,057,393

164,950,861
175,510,501
138,116,618
133,702,021

2*452
2*378
2*090
2*319
2*287

mile.
Cent.
1*595
1*735
1*438
1*539
1*166

Profit

pr. mile.
Cent.
*857
*643
*652
•780
1*121
-

The statement of the road issued in
December for the year 1879, as
compared with 1878, the months of November and
December being
partly estimated, was as follows:

Earnings, 1879.

Freight
Passengers
Other

$11,279,503
!

Operat’gexpen. and taxes, Ac.
Net

Deduct—Interest on
debt, rentals, Ac

funded

Equal per share

Dividends—Aug., 1879, 2^;
Feb, 1880, 4

Surplus
—“

873,421

$15,175,000
8,895,000 (58*62
—

$6,280,000

Earnings, 1878.
$10,048,952
3,057,393

3,128,460
767,037

sources.

was

On city and town bonds, interest is
paid by the municipali¬
ties. John T. Berry,
President, Rockland, Me.
Knoxville dk Ohio.—Knoxville, Tenn., to
Careyville, Tenu., 38 miles.
This was formerly the Knoxville A
Kentucky Railroad, which was in
default to the State of
Kentucky and sold October 8,1871. It is con¬
trolled
Tenn.

Year.

,

years past were as follows:

1877-78
1878-79

FREIGHT.

p. c.)

$13,979,766
8,486,601 (60*70

$5,493,165

2,723,000

2,718,791

$3,557,000

p. c.)

$2,774,374

($7 19)

($5 61)

3,215,322

$341,678

which has been disposed 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 ex¬
penses include 9,500 tons steel rails. The miles of
track now laid with
steel rail are 1,100. Included in
operating expenses is about $250,000
expended for additional equipment, improvements at
Ashtabula Harbor,
real-estate, Ac., which items have heretofore been
charged to construc¬
tion.” (V. 27, p. 602, 645; V.
28, p. 473, 618; V. 29, p. 170, 602, 657.)

Subscribers will confer a

great favor

DESCRIPTION.
on

first page

by giving immediate notice

Size, or
Miles IDate
Par
of
iof
Road. Bonds Value.

of tables.

35

AND BONDS.

RAILROAD STOCKS

March, 1880.]

Amount

Outstanding

Tables.
Bonds—Princi*

of any error discovered in tbese

INTEREST OR DIVIDENDS.
pal, When Due
Stock8—Last
per When Where Payable, and by

Rate

Cent.

Dividend.

Whom.

Payable

t
‘

Lake Shore <6 Michigan <couthei'n— (Continued)—
Schoolcraft & Three Rivers. 1st mortgage
Kalamazoo & Schoolcraft, 1st mortgage
Kalamazoo, Allegan & Gr. Rapids, 1st mortgage,

do
stock, 0 per ct. guar.
Jamestown & Franklin, 1st mortgage
do
do
2d mortgage
Lawrence—Stock
.
1st mortgage
Leavenworth Atch. <& N. IF.—1st mort., guar
do

Lehigh <& Laclcawanna—1st & 2d mortgages
Lehigh Talley—Stock, common and pref
1st mortgage, coupon and registered.. *
.*...
2d mortgage, registered
Consol, mort., gold, $ A £ (s. fd. 1 p.c. v’ly) cp.& reg.
Easton & Amboy, 1st mortgage (for $10,000,000)
Delano Land Company bonds, endorsed

1874-695.

Little Miami—Stock, common
1st mortgage
Street connection bds (jointly with Cin.& Ind.RR.)
Little Rock <& Fort Smith-New stock ...
1st M., Id gr’t (750,000 acs) s.fund (for $3,000,000)
Little Rock Miss. River <6 Texas—1st mortgage..
Little Schuylkill—StocK
1st mortgage, sinking fund, extended 1877...

Long Island—Stock
1st
1st
1st

12
13
58

1867
1867
1868

....

•

54
51
22
17
21
15
301
101
101
232
60
m

m

m

HI
165
123
100
31
31
158

1,000

1863
1869

1,000
50

1865

1,000

1867
•

•

•

•

•

•

27,228,855
5,000,000
6,000,000

1,000
1,000
1,000

1868
1870
1873
1877
1872

13,508,000
Held by L.V.
1.697,000
1,000
m

m

1,000

1853
1864

m

-

•

%

1877

»

5,000,000
2,650,000
1,250,000
2,646,100

m

1.000

1875
1876
•

m

•

.

50
500 &c.
50
500

95
156
4
10
19

2d mort. for floating debt ($1,500,000).
Newtown A Flushing, guar
New York & Rockaway, guar
Smithtown A Port Jefferson

1868
1878
1873
1871

1875-69

A J.

•

m

1898 & 1923

m

Jan., 1892^

Maft94883

Cihcinnati.

m

1905.
1890
Jan., 1880
Oct., 1882

Jan. 1,
Jan. 1,

Boston.
.

•

•

•

Philadelphia Office.
do

A. A O.

F.
M.
M.
F.
M.
A.
M.

m

m

A
A
A
A
A

1873
1890
1884

Company's Office.
A. N.Y..8t. Nicholas N.Bk.

9

N.
N.

do
do

do
do

July, 1898

Drexel, M. & Co.
N. N.Y., St. Nicholas N:Bk.
do
do
A O.
A 8. Drexel, Morgan A Co.
A.

leased to the Pittsburg

188&

March,

Bank of America.

T. A J.

6
7
7
7
7
7

branches, <fec., was

1898
Sept., 1910
June,

Cincinnati.

Various

7

250,000
600,000

Aug., 1895

Oct. 1, 1889
Dec. 1,1907
Jan. 15,1880

Philadelphia Office.

M. & N. N Y.,

m

986,772
106,500

Jan., 1880

a

m

*sx J. A J.

150,000
1,121,500

Oct
1, 1870
Var. to J’ly,’97
June 1, 1894

Philadelphia, Office.

Q.—M.

7

175,000

500

1871

n

J.

7
7

3,300,000

500
100 Ac.
500
500

i

.

^

480,000

1864

’.

„

•{

Pittsburg Office.

y.—j.

6

525,000

1,000

.

preceding page.

J. A D. Reg. at office, cp.B’kN.A
Philadelphia, Office.
M. & 8.
do
do x
J. & D.

7
2
6

4,636,000
1,491,000

50

•See

July 1, 1887
July 1, 1887
July 1, 1888

F. & A. N. Y., Winslow, L.&Co.
A. A O. N. Y., B’k of Commerce.
Philadelphia.
F. & A.

6

^ m

J.
J.
J.
O.
J.
A D.

Q.—J.

213
7
7
7
1
6
7
6 g.

500,000
600,000

50

•

•

7

337,000

1,000

1870

I860

mortgage, extension

mortgage, Glencove Br.
mortgage, main

100,000
840,000
610,000
410,000
500,000
450,000

A
A
A
A
A

J.
J.
J.
A.
J.
J.

8
8
8
3
7

$100,000

$....

Aug. 1, 1918
May, 1903

April, 1901
Sept., 1901

Cincinnati & St. Louis Rail¬

Junction, Pa., to Youngstown, O., 18 miles, with road Company for 99 years, renewable forever. The Pennsylvania
a branch from Canfield Junction to Coal Fields, O., 4 miles.
The branch Railroad Company is a party to the contract and guarantees its faith¬
was built by another company and merged in this company April
ful execution. Road is now operated by Pennsylvania Company. Lease
1873. The Lawrence Railroad was leased June 27, 1869, to Pittsburg rental is 8 per cent on capital stock, Interest on debt and $5,000 per
Fort Wayne & Chicago Railroad at 40 per cent on gross earniflgs, with annum for Little Miami Company’s expenses of organization; the fulfil¬
$45,000 per year guaranteed as a minimum. Lease has been transferred ment of the lessor’s lease obligation is also stipulated. Gross earnings in
Lawrence- Lawrence

23,

which the road is now operated. Sinking
in amount of bonds given above.
net earnings, $103,263; rental re¬

income $384,621, against $1,405,524 gross
(V. 28, p. 378.) '
Little Rock <& Fort Smith.—Little Rock, Ark., to Fort Smith, 165 miles.
ceived from lessee, $80,439.
In December, 1874, the property (then 100 miles), including the land
Leavenworth Atchison <6 Northwestern.—Leavenworth, Kan., to Atchis¬ grant, was sold in foreclosure. This company afterwards built 65 miles,
on, Kan., 21^3 miles.
Leased to the Pacific of Missouri July 1,1870, at and opened the road to Fort Smith July 1,1876. The coupons of July,
$42,500 per year. Afterwards, when Pacific of Missouri was reorgan¬ 1879, and January, 1880, were funded into 7 per cent notes. In the
ized as Missouri Pacific, lease was modified. Capital stock, $500,000.
year 1878 the gross earnings were $288,647 and net earnings $171,789,
but recently the company has shown a large increase in earnings. The
Lehigh & Lackawanna.—Bethlehem, Pa., to Wind Gap, Pa., 25 miles. land grant is about 1,000,000 acres, and land sales have been active.
This coal road was opened in 1867.
It is leased to Lehigh & Susque¬
hanna Railroad, and operated by Central Railroad of New Jersey. Of the (V. 28, p. 401; V. 30, p. 17, 43, 192.)
above bonds, $100,000 are a first mortgage, and the $500,000 second
Little Rock Mississippi Riven* <& Texas.—Arkapolis, Ark., to Pine Bluff,
mortgage are income bonds. Capital stock, $375,100. Gross earnings in 75 miles, and Arkapolis, Ark., to Culling, 25 miles; total, 100 miles.
1878 $27,838; net earnings, $3,912.
Additional branches were opened in February, 1880. This company was
a reorganization of the Little Rock Pine Bluff & New Orleans Railroad
Lehigh Talley.—Phillipsburg (Penna. line), N. J., to Wilkesbarre, Pa., and the Mississippi Ouachita A Red River Railroad. Both those com¬
101 miles; branches—Pen Haven to Audenried, 18 miles; Hazle Creek
panies received land grants and State aid bonds. The stock is $2,606,Bridge to Tomhicken (and branches), 34 miles; Lumber Yard to Milnes- 900. J. E. Redfleld, President, Boston, Mass. (V. 30, p. 169.)
ville (and branches), 18 miles; Black Creek Junction to Mt. Carmel (and
branches), 59 miles; Slatedale branch, 3 miles; owns the Easton A
Little Schuylkill.—Port Clinton, Pa., to Catawissa Railroad Junction,
Amboy Railroad, Amboy, N. J., to Pennsylvania line, 60 miles; total 28 miles; two branches, l1^ miles each, 3 miles; total, 31 miles. The
owned and operated, 293 miles. This is one of the most important of East Mahanoy Railroad was leased January 12,1863, for 99 years, but
the so-called “ coal roads,” and has been able to maintain moderate sub-leased to Philadelphia A Reading July 7,1868. The Little Schuyl¬
dividends during the past years of depression. It is one of the peculiari¬ kill Railroad is leased to the Philadelphia A Reading Railroad for 93
ties of the company's annual report that no general balance sheet is
years from July 7,1868, at a fixed annual rental. Of the stock, $158,250
given. The earnings, expenses and income account for the fiscal year is held by the company, and no dividends are declared on this.
ending Nov. 30,1879, were as follows:
Long Island.—Long Island City, N. Y., to Greenport, N. Y., 95 miles;
Net
Gross
From—
Receipts.
Expenses.
Receipts. branches, 63 miles; total own 3d, 158 miles. Other road* controlled and
$1,853,673
Coal
$4,011,444
$2,157,771 operated in 1878-9 were as follows:
Name—
Miles.
Name—Miles.
Freight
1,488,578
859,998
628,579 Smithtown & Pt. Jefferson RR. 19*0 Central Extension RR
8*1
432,302
283,309
Passengers, Express A Mail.
148,993 Stewart RR
Whitestone branch
4*0
14*5 Great Neck branch
6*7
$2,935,344 Stewart RR
1‘8
Totals...
$5,932,325
$2,996,981
3,075,811 New York & Rockaway RR... 8*9 Woodside & Flushing branch.. 3*9
1878
5,532,738
2,456,926
Brooklyn & Jamaica RR
9*6 Southern RR & So. Side RR. 51*5
1*5
Newtown & Flushing RR
3*9 Hunter’s Point branch
Increase (*) or decrease (t)... *$399,587
t $140,467 New York & Flushing RR
*$540,054
Far Rockaway
9*4
2*7 South Hempstead branch
5*3
The income from all sources, including interest received from invest¬

to Pennsylvania Company, by
fund has $18,000 bonds, deducted
Gross earnings in 1878, $201,097;

ments, Ac.,

amounted to

1878, $1,223,691, and net
and $431,781 net in 1877.

$6,540,363
2,996,981

Central
15*9
of all the roads owned and operated is 325
Island Railroad was doing a fair business, and
an occasional dividend until
the company was
leases of the various other roads controlled by Mr.
F. N. S. &

miles. The Long
paid its interest and
saddled with the
Net income
$3,543,382
Poppenhusen. The
Out of which there was paidcompany
on these roads, and
interest on Bonds
$1,557,900 went into was unable to pay the enormous rentals Messrs. Drexel, Morthe hands of a receiver October, 1877.
Dividends—four per cent on Common Stock
1,095,523
General expense, interest on floating debt, taxes, loss on
iteral much of large creditors of Mr. Poppenhusen,
Co.
as
Moms Canal and on coal operations
866,595 6an & are were the Long Island Railroad stock. The second mortgage
bonds
issued to take up floating debt of various classes. Several of
$3,520,019 the leased roads have been foreclosed under their mortgages, and are
operated under temporary arrangements. The annual report for

Operating expenses of the

road

*

$23,363

Leaving

the credit of the profit and loss
•amings for five years past were as follows:

to be carried to

Mis. Freight,

Gross

Net

Div.

Earnings.

p. ct.
10
9

Earnings.* $2,783,633
69,902,718 7,049,647 3,206,897
16,657,397
86,712,311 6,488,037 3,325,215
13,718,758 112,557,966
5,532,738 3,075,811
15.082,571 150,540,605
5,932.325 2,935,344
Does not include receipts from interest, Ac., which are large.

Years.

*

Passenger

account. Operations and

Miles.
267
302
301
803
303

Mileage.

17,416,448
33,388,877

Mileage.

58,912^00 $6,046,495

5^2
4
4

30, p. 91, 219.)
Little Miami.—Road operated'is qs follows: Main line, Cincinnati to
Columbus, Ohio, 120 miles; branches—Xenia to Springfield, Ohio, 19
miles; Xenia, Ohio, to Richmond, Ind., 57 miles; total, 196 miles. The
Little Miami Railroad proper extends from Cincinnati to Springfield, but
the portion between Xenia and Springfield is now operated as a branch;
for the remainder of the main fine, as given above, the Columbus A
Xenia road, Columbus to Xenia, is used. The Little Miami road was
opened in 1846 and the Columbus & Xenia in 1850, and on November
30,1853, a partnership contract was entered into between the two com¬
panies. On January 1,1865, they leased the Dayton A Western (Dayton
to Indiana State line) and the Richmond & Miami (State line to Rich¬
mond), and on February 4,1865, purchased the road from Xenia to
Dayton; these three roads go to form the branch of 57 miles given
above. The partnership agreement was dissolved November 30,1868,
and a 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
—(Y. 28, p. 95 ; V.




The total

and held col-

now

the fiscal year ending
Y. 30, p. 65, made the

September 30,18v9, published in the
following exhibit:
1878-9.

$1,617,949

Total receipts

1,279,590

Operating expenses

$338,359
Payments other than for construction were as follows .*
1878-9.
Net earnings

roads
Proportion of earnings for
ferries

other roads and

.

Funded debt

Floating debt accrued

1877-8.

$1,524,9*32
1,019,000
$505,932
1877-8.

$1,279,590

Transportation expenses
Interest
Rentals of other

Ciikonicle,

previous to appoint¬

$1,019,000

205,173
193,304

196,606
145,614

107,660
138,350

39,400
20,000
104,688

31,799
$1,506,328
Total
$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 were as follows:
Net
Gross
ment of receiver

Years.

1874r-5

.*;

-(Y. 28, p. 378 5

...

:

Miles.
199
320
323
323
325
V. 30, p. 65.)

Earnings.

Earnings.

$828,840
1,149,897
1,473,178
1,497,914
1,559,976

398,736
412,701
497,895
280,617

$213,504

36

RAILROAD STOCKS AND BONDS.

Subscribers will confer

[VOL. XXX.

a

great favor by giving immediate
notice of any error
discovered in these Tables.
DESCRIPTION.
Miles Date Size, or
INTEREST OR DIVIDENDS.
For explanation of column
Bonds—Princi¬
Amount
headings, &c., see notes of
of
Par
pal,^When Due.
Rate per
g
on first page of tables.
When Where
Road. Bonds. Value. Outstanding
Payable, and by Stocks—Last
Cent.
Payable
Whom.
Dividend.
XtOuisv.Cin.
<6Lex—Louisv.l’n(toLouisv.&Frankf.)
65
1851 $1,000
Louisville Cincinnati &
6
$100,000
J. & J. N. Y., Bank of
Lexington, 1st mort
175
•faJVvw
1867
America. Jan., 1881
1,000
7
3,000,000
mortgage, coupon, for $1,000,000
J. & J.
do
175
do
1877
100 &c.
LouisviUe dt Nashville— Stock
Jan., 1897
7
275,300
A. & 0.
966
100
Louisville loan, main stem (no
1907
3
9,052,950
F. & A.
mortgage)
L.&N.Y., Far. L.& Tr. Feb.‘2. 1880
Lebanon branch, Louisville loan
850,000
6
A. & O. N. Y., Bank of
America. 1886 & 1887
1856
1,000
Lebanon branch. 1st mortgage
6
225,000
Various
do
do
1863
do
1,000
1886
7
88,000
extension, Louisville loan
M. & N.
Louisville.
1863
Oecilian Branch, 1st
1,000
Nov., 1880-’S o
333,000
6
A. & O. L. & N.
mortgage
46
Y., D., M. & Co. Oct. 15, 1893
1877
Consolidated 1st mortgage for
1,000,000
7
M. & 8.
New York.
$8,000,000
392
1868
25d mortgage bonds,
1,000
Mar. 1,1907
7
7,070,000
A. & O. L. & N.
gold, coup
392 ■ 1873
Y., D., M. & Co. April, 1898
1,000
Memphis <fc Ohio, 1st mort., sterling,
2,000,000
7 g. M. & N.
New York.
130
1871
£200
Nov. 1, 1883
Memphis & Clarksville br.. 1st mort., guar
3,500,000
7
J. & D.
sterling—
83
London, Baring Bros.
1872
Mort. on Ev. Hen. &
£200
Dec., 1901
2,270,770
6 g. F. & A.
.N., gold, (for $2,400,000)...
do
115
ao
1879
Debenture bds (sec’d by Nash. & C. stock
1,000
Aug., 1902
1,600,000
6 g. J. & D.
in trust).
do
do
1880
Louisville New Albany dt
Dec. 1, 1919
2,800,000
6
Chicago—Stock
do
284
do
i’oo
Lykens Valley—Stook~
1884
£000,000
1
20
McKean dt Buffalo—1st
100
600,000
21a
mortgage
Q.— F.
22
Philadelphia.
Macon dt Augusta—1st
Feb., 1880
7
398,000
mortgage
77
1867
2d mort., endorsed
Jan. 1, 1905
1,000
400,000
7
J. & J.
by Georgia Railroad
77
N.Y.,M.K. jesup.P.&Co.
1869
Madison dt Portage—1st
1,000
1887
7
370,000
J. & J.
mort., gold
do
do
39. 1870
1,000
1879
Mahoning Goal— 1st mortgage, coupon
600,000
7 g. A. & O.
New York.
43
1872
Maine Central—Stock
1,000
Jan., 1902
1,480,000
7
J. & J. N.York, Union
355
Trust Co. Nov. 1, 1879
1st mortgage, consolidated
100
3,620,120
355
1872
100 &c.
.Bonds ($1,100,000 loan) A. <fc. K. RR..
3,903,300
7
A. & O. Bost., Nat. B’k
1860-1
Com’ree. April 1, 1912
Extension bonds, 1870, gold
1,100,000
6
F. & A. Bost., N. Bk.
19
1870
Commerce 1890 to 1891
Maine Central loan for
6 g. A. & O.
496,500
$1,100,000
do
do
1868
Leeds & Farmington Railroad loan
Oot., 1900
756,800
7
J. &

1874-965

^

^

^

^

-

•

•

•

m

....

....

....

678 1875.
..

•

,

Androscoggin Railroad,

Portland

&

do

Kennebec, 1st mort., extended
do

^

consolidated mortgage....

Belfast & Moosehead, 1st
mortgage
Manchester dt Lawrence—Stock

Louisville Cincinnati

1871
1861
1863
1865
1870

-

72

„

^

m

—

•

•

—

m

—

ra

.

38

Bath City loan

•

^

33

26

•

•

•

•

100
100

500<feo
100

633,000
425,000
217,300

1,166,700
150,000

1,000,000

6
6

6
6
6 g.

5

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

J.
J.
J.
0.
O.
N.
N.

do

do

Portland.
Bost., Nat. B’k Com’rce
Portland, Me.
Bost., Nat. B’k Com’rce.
Belfast and Boston.
Manchester and Boston.

July, 1898
July, 1901

July, 1891
April 1, 1883

Oot.

L

1895

May 15, 1890
Oct., 1879

dt

Lexington.—Line of road—Louisville, Ky., to
Lexington, Ky., 94 miles; Junction to
Lykens
Newport, Kv., 81 miles; leased: coal road Talley— Millersburg, Pa., to Williams town, Pa., 20 miles. A
^Newport, Ky., to Cincinnati (O.) Bridge, 1
leased and operated
mile; standard gauge track lease is for 999
by the Summit Branch Railroad. The
.at Louisville, 4 miles;
years from March
Lexington, Ky., to Mount Sterling, Ky.t 34
1,1866, and the rental is $62,500 per
total owned and
miles; annum.
operated, 214 miles.

Tlie old road was sold in
closure Oct. 1,1877, to the second
fore¬
McKean dt
mortgage bondholders, and
Buffalo—Larrabee, Pa., to Clermont, Pa., 22 miles. In 1878
pany was organized. The stock is $496,011 common and this com¬ gross earnings were
$60,620 and net $40,811. The stock
preferred. In 1879 important contracts were
$1,374,762 B, D. Hamlin,
is $387,600.
made,
voad for 30 years, and also
President, Smethport, Pa.
with the Cumberland & leasing the Shelby
Ohio (see Y. 29, p.
Macon dt
147). Operations and earnings for five
Anpusfa.—Warrenton, Ga., to Macon, Ga., 78 miles. Road
years past were as follows:
operated by Georgia Railroad Co.,
which endorses $300,000 of the
Passenger
Freight (ton)
Gross
Years.
first
Net
mortgage bonds and all the second
Miles.
Mileage.
mortgage bonds. Capital stock,
Mileage.
$1,971,541. The Georgia Railroad
Earnings. Earnings.
213
$1,026,159 $224,528 Augusta, March 2, 1880. (V. 28, p. Company bought in the road sold at
213
15,747,685
501, 579; V. 30, p. 17, 248.)
21,762,605
1,011,688
205,866
213
15,431,162
Madison dt Portage.—Madison,
26,481,084
1,049,369
213
256,710 The road
Wis., to Portage City, Wis., 39 miles.
13,379,360
was opened in 1870.
27,158,428
The stock is $394,300. The
978,083
294,160 trolled and
road is con¬
operated by the Chicago Milwaukee &
—IV. 27, p. 302; Y. 28, p. 41,
St. Paul, and no
arate returns are made.
599; V. 29, p. 147; V. 30, p. 169.)
sep¬

Louisville dt

Nashville.—Louisville,
total branches to
Bardstown,

'

Ky., to Nashville, Tenn., 185 miles; 38Mahoning Coal.—Road extends from Andover, O., to
miles, and has five miles of branches to coal
Youngstown, O?,
Livingston, Ky.. Richmond, Ky.,
Paris, Tenn., to Memphis, Tenn.,Ky., to
mines. It was opened
and
Cecilian Junction, 466 miles in May l, 1873, and leased for 25
all; total main line and
years from that date to Lake Shore
&
11 miles; Nashville & branches, 651 miles; Barren County Railroad, Michigan Southern Railroad, at 40 per cent of
Decatur (leased), 122
miles; South <t North Ala¬ stock is $1,373,000. The L.S. & M. S. Co. holdsgross earnings. Capital
bama Railroad and
$213,000 of the bonds.
branch, 190 miles; total road
Net earnings in 1878 (40
per cent of gross), $36,569.
owned, leased and
controlled, 973 miles. This statement was
prior to the acquisitions
of 1879-80; but in
Maine Central.—Portland,
Me., to Bangor, Me., 137 miles.
May, 1879, the
Branches
Henderson & Nashville (St. Louis & company purchased the Evansville owned: Cumberland Junction to
Southeastern), and in January, 1880, Lewiston and to Bath, 32 miles; Waterville, 73 miles; Brunswick to
bought a controlling interest in the stock of its
Crowley’s to Farmington, 47 miles;
rival line, the Nashville Waterville to
Chattanooga &8t. Louis Railway. (See V. 30, p. 91.)
Skowhegan, 19 miles ; leased: Belfast & Moosehead
Afterwards a con¬ Railroad, 34 miles; Dexter &
tract was made with the
Lake
Central Georgia
Newport Railroad, 14 miles ; total
Railroad, for five years, for leased and operated, 356 miles. This was a
operation together, including also the
owned,
consolidation in 1862 of the
Georgia Railroad and South Caro¬ Androscoggin <fe Kennebec
lina Railroad. (See V.
Railroad and the Penobscot &
30, p.
Orleans & Mobile road had 192.) It was also reported that the New In August, 1873, the Portland &
Kennebec.
been purchased. The
Kennebec, Somerset & Kennebec and
condensed balance Leeds & Farmington railroads were
.sheet, Jan. 30, 1879, was as
follows:

RESOURCES.

Total cost of road to June
30,1879
Due from transportation
department
.•Sundry railroad bonds
Sundry railroad stock
Pullman Southern Car
Company stock

Bills receivable

$24,865,647

$309,609
522,816
1,281,861
84,000

68,130
and persons
Real estate, timber and
278,492
JS outh & North Ala. RR. quarry lands
938,178
Second Mortgage
.•3 uspendecl interest S.
bonds.1,000,000
& N. Ala. RR. 2nd
mortg...
South & North Alabama
70,000
Railroad Cf>
810,017
.Nashville & Decatur Railroad
Company
421,872
-‘Shop and fuel stock

Bills payable
Due sundry persons
$364,311
Due 8outhem Division
159,041
Cumberland & Ohio RR.. 139,610
Dills and payrolls
unpaid
442,196
nterest due July 1st and
August 1st
Back dividends
162,475
32,236
Dividend No. 25, due
August 10th
Bonded debt
226,322—
Profit and loss account
Total liabilities

$9,052,950

Earnings for

Years.

5-4781
6-5781

five years past

were as

Miles.
920
920

follows:
Gross

Earnings.
$4,863,873

5,000

Notes receivable
Change of gauge New Brunswick & Canada
Due from Railroads and
Railway
transportation companies
Due from station agents
a.

6,602,870
$31,408,518

LIABILITIES.

768,333

1,658,540

stock
Eastern Railroad certificates of
indebtedness

507,047

Capital stock

$10,019,932'

Equipment account
Dexter & Newport Railroad

310,844—

Total resources

'

Dr.

BALANCE 8HEET, DEC. 31, 1878.
Construction account
Androscoggin Railroad lease.

.■Sundry railroads

Cash

also consolidated with the
Central. A’his road is one of the
Maine
most prominent in New
had a favorable business in
1879, but full annual report England and
has not been issued.
for that year
The general balance sheet
Dec. 31,1878, was as
folloyvs:

1

Due from sundry accounts
Wood and coal on hand
Stock for repairs on hand
Cash on hand

15,195
5,346

3,802
5,630

32,027

i

48,977
79,388

71,964
37,426

Cr.

Capital stock

1,526,194
17,396,770
3,492,603

$31,468,518

Net

Earnings.

$1,682,132

Div.

p. c.

4,961,490
X876-7
1,967,960
941
5,315,326
1877-8
2,140,520
1*2
966
5,607,598
1878-9
2,344,242
3
966
5,387,595
—(V. 28, p. 428, 477,
2,231,771
4
579, 4G02, 657; V. 30, p. 91, 144, 600; V. 29, p. 41, 170, 358,' 381, 405, 538,
169, 170, 192.)
Louisville New Albany dt
Chicago.—New Albany, Ind., to
City, Ind., 288 miles. This road was
Michigan
opened in 1852
closure’ December
27,1872, and reorganized without and sold in fore¬
Very little information has been
any bonded debt.
given as to its earnings, but
1878 showed gross
returns for
earnings of $621,750; net
.stock was placed on
earnings, $50,140. The
the New York Stock
1879, and afterwards it was
Exchange List in November,
reported that a purchase had
a controlling
been made of
interest in the stock
by Mr. Standiford, President of
Louisville & Nashville
Railroad, R. S. Vcech, Hon. Isaac Caldwell the
/several other gentlemen in
and
Louisville, and their associates in New York
were John Jacob
Astor, William Astor, Robert L.
Vaile, Samuel Sloan and others. All
Kennedy',
these holders of the Henry F.
X riends of the

Stock bonds
Bonded debt
Maine Central interest
scrip
Portland & Kennebec Railroad
stock
Notes payable
Dexter & Newport Railroad
rent not yet due
Coupons not presented for payment and
dividends
interest scrip not called for
*. .<
Due railroads and
transportation companies
Due on sundry accounts
Profit and loss balance

$12,751,566
$3,603,300
16,800
8,708,942
26,092
1,000
4,681

6,000
on

14,408
127

1,150

369,064

Operations and earnings for five
$12,751,566
years past were as follows:
Passenger
Gross
Freight (ton)
Years.
Net
Miles.
Mileage.
Mileage.
Earnings. Earnings.
355
25,684.610
23,287,786 $1,781,786 $634,719
355
25,208,274
25,029,850
1,726,497
684,416
355
22,740,125
25,028,148
1,648,175
644,637
355
20,449,197
21,193,655
1879
1,434,688
593,983
-(V. 28, p. 325.)
Manchester dt La
icrence—Manchester, N. H., to Methuen (State
22*4 miles; Methuen branch of the
line),
Boston & Maine
total miles operated, 26.
Railroad, 3% miles;
Road in operation since
1849. Formerly
operated with the Concord Railroad
as one line, on a
of the joint
earnings. Methuen branch is leased at a basis ofoftwo-fifths
rental
per annum.
$11,000
Company lays claim to a two-fifths interest in the
chester & North
Man¬
Weare, Suncook Valley and the Mt.
roads, which are operated by Concord
Washington rail¬
Railroad. Ten per cent dividends
stock are are paid. Gross
Louisville &
would manage the road so Nashville Railroad, and it was stated
1878-9, including amount received from
as to give to the
they Concord Railroadearnings in of
on account
»sul a thirteen hours
Louisville & Nashville Railjoint business, $164,998; net
connection with
$100,411. In 1877-8 gross
earnings,.
Chicago. (V. 29, p. 511, 657.)
$100,459. (V. 28, p. 598.) earnings were $171,777, and net earnings,
•

.




,

..

IgflX BUDGE Subscribers will confer a

of tables.

Miles Date Size, or
Amount
of
Par
of
Road. Bonds Value. Outstanding

44
188
188
• •

•

•

_____

$100
1861
1861
1866
1870
1873
•

30

•

•

«

•

m

m

m

m

-

m

>

.

•

m

50

109
117

Now mortgage.

($1,400,0001st M. on 91 m. in Tenn.)
Memphis dk Little Rk.—lBt M. (paid $50,000 yearly)
General mort., land grant, (s. f. $10,000 after ’82)
Metropolitan Elevated (N. Y. City)—Stock
1st mortgage, gold
Michigan Central—stock
1st mortgage, convertible, sinking fund
1st mortgage, convertible
Consolidated mortgage (for $10,000,000)
Michigan Air Line mortgage
Michigan Air Line 1st mort.,assumed by M. C—.
Equipment bonds
M. C. bonds, mort. on Grand River Valley RR. ..
Kalamazoo & South Haven, 1st mort., guar
do
do
2d mort., guar

1878
1880

292

Memphis dk Charleston—stock
1st mortgage, Ala. & Miss. Div., convertible—
2d mortgage
Consol. M.,g.

1872

181
272
292
133
133
.

m

6ifl
800
284
284
284
103

•

•

•

•

•

•

1878
e®

„

m

m

ra

^

#

#

1872
1869

10

82
39

39

m

1874
1879
1870
1870

Cen

7

2,450,000
1,050,000
2,500,000

?*

3;ooo;ooo

...

8
8
7
4
7
4
7

4,000,000

3001000

ioo

1,125,000
750,000

1,000
•

•

•

m

m

1,243,400
750,000
3,530,000
1,760,000
2,482,000

•

m

m

...

1,000
1,000
m

m

25
m

m

m

7
T
7 g.

1,000
1,000
250 &o.
100

1,000
100

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1.000

1,000,000
1,951,000
250,000
2,600,000
[6,500,000
8,500,000
18,738,204
1,501,000
556,000
8,000,000
1,900,000
200,000
556,000
500,000
640,000
70,000

10
4

Stocks—L&St
Dividend.

10m.
Whi

Payable

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

pal,When Due.

Payable, and by

Aug. 1, 1891
Aug. 1, 1891
& N. Balt.yR. Garret <ft Sons, May 1, 1896
do
do
& J.
July 1, 1890
do
do
& O.
April, 19081
do
do
& N.
May 1, 1896
do
do ’
Jan., 1879
& J.
& D. Balt., Merch. Nat. Bank Dec. 1, 1904
do
& N.
do
May 1, 1879
Jan. 1, 1900
do
do
& J.

& A
& A

Balt., R. Garret & Sons.
London.

.

June 1,1892
Mar. 1, 1908

M. & N.

Mayl, 1880

N.Y.,R.T. Wilson* Co.

Jan. 1, 1885
Jan. 1. 1916

do
do

do
do

J. & J.
J. & J.
M. & N.

N.Y., H.Talmadge &Co. Yearly-'79-’83
do
ao
July, 1907
Jan. 2,1880
New York, Offloc.
q.—«r
j. & j. N.Y., Central Trust Co.
July. 1908
Janu'ry

2*3

!*•
8
8
7
8
8
8
6
8
8

Where

When

J. & D. N. Y., Company’s office
M. & S. New York, City Bank.

6

1,264,000

9 .

...

orpo

*8*

(?)
5,312,725

m

m

r

$13,000,000

v

^

•

1854
1867
1877
1877
1877
•

m

w

•

1869

5*2
m

m

1866

.

-

Manhattan Elevated—Stock
Marietta dk Cincinnati—1st mortgage, dollar.
1st mortgage, sterling
2d mortgage
3d mortgage
4th mortgage
Scioto & Hocking Valley RR., 1st mortgaj
Balt. Short Line, stock, 8 p. c. guar by M.
1st mort., guar, by M. & C—
do
do
Cincinnati & Baltimore RR., stock
do
do
1st mortgage
Marietta Pittsburg dk Cleveland— Funded debt

8711874-56

discovered In these Tables*
\Bond8—PrinoT

INTEREST OR DIVIDENDS.
3

first page

37

BONDS.

great favor by giving Immediate notice of any error

DESCRIPTION.
on

AND

RAILROAD STOCKS

March, 1880. J

Feb. 2. 1880
j. & j. Grand Central, Office.
Oct. 1,1882
A. A O. N. Y., Union Trust CoJ
Oct. 1,1882
do
do
A. & O.
do
do
M. & N.
May 1,1902
Jan. 1,1890
do
do
J. & J.
1890
do
do
M. & N.
do
do
A. & O.
April 1, 1883
1909
do
do
Nov. 1,1890
do
do
M.&N.
Nov. 1,1890
do ~
do
M.£ N;

Memphis dk Little Rock.—lAttle Rock, Ark., to Hopefleld, Ark., 133
Default was made on the coupons November, 1872, and the prop¬
erty sold in foreclosure. The new company also defaulted, and the road
was sold and reorganized April 28,1877.
The stock is $1,500,000. In
1878 gross earnings were $443,764; net earnings, $14.6,417. The com¬
pany has a land grant from Congress of 1,000,000 acres, of which about

the two elevated railroads in New York City. Its capital stock is $13,
000,000, and it guarantees 6 per cent per annum on $17,000,000 of
bonds and 10 per cent on $13,000,000 of stock of those companies before
its own stock can receive anything.
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; V. 29, p. 244, 407,459,511; V. 30, p. 144.

miles.

Marietta dk Cincinnati.—Ludlow Grove, O., to Belpre, O., 187 miles
branches, 88 miles; lines leased and operated, 37 miles; total operated

Judgment against the company in December, 1879, for about $200,000.
C. H. Clark is president, Little Rock, Ark. (V. 29, p. 657; V. 30, p. 192.)

312 miles. The company made default on the fourth mortgage bonds
and the road was placed In the hands of Mr. John King, Jr., of the Balti
more & Ohio, June 27,1877.
The Marietta & Cincinnati Co. guaranteed
the stock and bonds of the Baltimore Short-Line Railway, and when in
default on its own bonds this rental of the Baltimore Short-Line and the
rental of the Cincinnati & Baltimore Railroad were paid by order of the

court, as the securities of these roads were mainly held by the Baltimore
& Ohio Railroad. The bondholders of the Marietta & Cincinnati Co
have complained bitterly against the policy of the Baltimore & Ohio Co
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

$1,386,350. Very little information has been given in regard to the
operations of the company since 1875; but in November, 1879, Mr.
John King, Jr., receiver, filed his special report covering the period of
his receivership of that road—from June 20,1877, to October 31,1879.
A summary of this report is as follows: Since the appointment of the
receiver the earnings have amounted to $3,820,971 and the expenses to
$3,018,216, leaving excess of earnings over working expenses $802,754.
From this is to be deducted the following expenditures:

150,000 acres have been certified to it. The general mortgage carries 8
cent interest after July, 1882. The State of Arkansas obtained a

per

Metropolitan Elevated.—This was formerly known as

the Gilbert Ele¬

vated Road, and is now leased, together with the New York Elevated, to
the Manhattan Railway Company, at 10 per cent on the stock and in¬
terest on the bonds. Mr. Elnathan Sweet, Jr., an assistant of the State
Engineer, made a report in January, 1880, on the result of an examina¬
tion of the elevated railroads of New York, which he was requested to

by a sub-committee of the Hepburn Investigating Committee. He
reports that the New York Loan & Improvement Co. expended in the con¬
struction of the Metropolitan Elevated Railway up to Sept. 30,1879, the
sum of $10,828,790.
ftjisMr. Sweet’s opinion that $2,228,042 of thissum
make

is not chargeable properly to the construction account. It is made up of
items for legal expenses, for the purchase of real estate and other chargee
of like character. There is an item of $415,000 charged to bond dis¬
count. This represents the loss on $3,605,000 in bonds of the Metro¬

politan Company sold to Kuhn, Loeb <fc Co., $1,000,000
and the rest at 90 per cent. Not more than 10 per cent of

at 85 per cent
the real estate,

charged at $693,833, is needed, on account of the consolidation with the
In one part of his report Mr. Sweet says :
York Loan & Improvement Company paid
For taxes
.. $113,812
for $6,500,000 of Manhattan stock, $8,500,000 of the first mortgage
Rent Cincinnati & Baltimore road
$260,521
bonds and $6,500,000 of the stock of the Metropolitan Company, repre¬
Less amount received from Cincinnati & Springfield
whole property and the only lien upon it.” Mr. Sweet
91,653—168,868 senting the financial statements of the company, and comes to the then
Co. for use of Cincinnati & Baltimore road.
analyzes the
con¬
For rent of Baltimore Short-Line road
292,533 clusion that
they paid for the above-named securities $9,639,142. Dur¬
Rent of track paid Indianapolis Cincinnati & Lafayette Co
9,588 ing the year ending Oct. 1,1879, the operations were as follows: Miles
Rent of depot and grounds leased at Cincinnati.
98,635 operated, 7: passengers carried, 16,069,489; gross receipts, $1,285,980;
Coupons of Scioto & Hocking Valley RR (Portsmouth Branch).
41,825 operating expenses, $709,529, net earnings, $o76,455. For four months
Rent of land elsewhere than Cincinnati upon the line of the
ending January 5,1880, the following statement was made: Miles oper¬
road, and miscellaneous items
11,820 ated, 11; gross receipts, $589,260; operating expenses, $185,836; net
-$737,082 earnings, $303,423. Mr. Sweet said of this: “The earnings of the
—Showing that the net earnings, after deducting taxes and rents during Metropolitan for the last four months showr a large increase in earnings,
and operating expenses reduced to 31 per cent.” (V. 28, p. 42,112, 253,
the period stated, were $65,672.
The suit for foreclosure is moving
327, 526, 553, 579; V. 29, p. 42, 407, 511,631, 656; V. 30, p. 144,169.)
slowly on. (V. 28, p. 401, 452; V. 29, p. 170, 608 ; V. 30, p. 43,169.)
Marietta Pittsburg dk Cleveland.—Marietta, O., to Canal Dover, 100
miles. Road opened May, 1874, and receiver appointed August 7,1875,
and road sold June 13,1877. The property has been in the hands of

Cyrus W. Field, John Paton and Isaac Morton, trustees and purchasing
committee, and will soon be reorganized.
Marquette Houghton dk Ontonagon.—Marquette, Mich., to L’Ause, 63
miles; branches, 25 miles; total main and branch lines, 88 miles. This
was a consolidation August 22, 1872, of the Marquette & Ontonagon
Railway and the Houghton & Ontonagon Railway. The company made
default on 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¬
ber and mineral lands, and the freights of the company are mainly of
iron ore. Operations and earnings for several years have been as follows:
Years.
1875

1876

1877

Miles.
88
88

.

.

.

.

88
88

Freight (ton)

Gross

Mileage.
14,031,901

Passenger
Mileage.
1,386,303
1,208,906
1,170,748
1,030,290

Earnings.
$718,904
680,422
675,732
566,453

14,236,987

15,478,293

15,816,466

New York Elevated Road.
“
Let us see what the New

Michigan Central.—Detroit, Mich., to

14 miles of the Illinois Central track
lines: Michigan Air Line, 104 miles;

Jackson Lansing & Saginaw, 236

miles; Grand River Valley, 84 miles; Kalamazoo & South Haven, 40
miles; Joliet & Northern Indiana, 45 miles; total leased lines, 520
miles; total operated, 804 miles. The leased lines have been largely
assisted by the Michigan Central Company, and prior to* 1872 the Michi¬

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 lias been the loss of net income arising
from the large decline in freight rates on through business. The last
annual report was published in 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 1878 and 1877 full year iu each case is
Net
Earnings. giveu to make the comparison a proper one:
gan

$311,475
331,788
346,063

299,182

EARNINGS.

1877.

Increase.

$4,646,247

$4,387,839
1,881,581

307,237

Freight

292,014

1,918,608

Passengers

248.)

Total
$6,872,094
$6,561,435
Charleston.—Memphis to Stevenson, Ala., 273 miles;
Florence 5 miles; total length 292
OPERATING EXPENSES.
miles. This road was leased June 2,1877, to the East Tennessee Vir¬
$1,205,739
ginia & Georgia Railroad for twenty years from July 1, 1877. The Excluding taxes.. $4,162,741
302,742
204,497
lessees were to operate the road on their own account and apply the net Taxes....
earnings to interest and pay the balance, if any, to the lessors. The
Total
$4,508,482
$4,367,238
lease was terminable on 6 months’ notice and was modified in December,
$2,052,952
Net earnings
1879, the M. & C. Company giving up their right to terminate the lease,
$2,504,855
and the lessees agreeing to buy the coupons for three years following in Ratio of expenses
O
case the M. & C. earnings should be insufficient to pay them.
to earnings, in¬
Of the new
68*71
•consolidated mortgage, $1,400,000 is secured by the old Tennessee State
63*55
cluding taxes
lien for $1,736,906, assigned to a trustee, and a fuffieient balance of this
FREIGHT STATISTICS.
mortgage is reserved to take up first and second mortgages. Earnings
1877.
1878.
for five years past were as follows:
o$1,690,730
No. of tons—local..

Memphis dk

branch to Somerville 14 miles, to

,.

Miles.
292
292
292
292
292

Earn’gs,
$1,063,326
1,033,366

Gross

631.)
—(V. 28, p 221; V. 29, p. 18, 382, 608, 631.)




$310,658

#

$42,998
98,244

$141,243
$451,902
5*16

...

Years.

1878-9

Decrease.

$258,408
37,027
15,222

1878.

Miscellaneous

Massachusetts Central.—(See V. 30, p. 222,

Chicago, Ill., 284 miles, including

used for eutering Chicago; leased

,

961,350
989,857
862,513

$2,033,994

Net Earn’gs.

$ 83,495
321,230
317,523

307,445
231,0C8

No. of tons—thro’.

1,530,731

Tot: 1 tons hauled. .$3,564,731
Tons moved 1 milc5 48,053,707

Earnings per ton
per mile
Cent

00*848

Increase.

1,246.840

$2,937,570

Decrease.

$343,264
283,897

$627,161

.

446,708,939 101,344,768
00*982

00*134

38

RAILROAD

Subscribers will confer

STOCKS

AND

BONDS.

great favor by giving immediate notice of any error discovered in these Tables.

a

DESCRIPTION.

Miles

Amount

Value.

Outstanding

Michigan Central—(Continued)—
Grand River Valley, 1st mort., guar. 5

$1,000

$1,000,000

do

84

stock, guar

„

Bay City 1st mortgage, endorsed
do
mortgage (not guar M.C.)
Jackson, Lansing & Saginaw 1st mort
' coup.

1866

Par

100

^

118
118

1872
1872
1865
1870
1871
1866
1875
1870

\

..

Minneapolis d St. L.—1st M"., Min. to Sioux C. June.
1 st mortgage,

1st mortg.,

Sioux City June, to Iowa line

Minneapolis’ to White B. Lake, guar..
1st mortgage, gold, coup. (Al. Lea to Fort Dodge)
Mississippi d Tennessee—1st mortgage, series “A”.
1st mortgage, series “ B, ” (a second iieu)
Missouri Iowa d Nebraska— 1st mortgage
Missouri Kansas d Texas—Stock
1st in., gold, sink, fund, on road and laud (U.P.S.Br)
1st

mortgage, gold (Tebo. & Neosho)

Consolidated mortgage, gold, on road and land...
2d mortgage, income, (for $10,000,000)
Booneville Bridge bonds, gold, guar
Hannibal & Central Missouri, 1st mortgage
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

CarondeTetfBranch,

116

236
13
127
126
140
51
1868
27
1877
93
1877
15
1877
110
1879
100
1877
100
1877
85
1870
786
182
1868
100
1870
786 1871-3
786
1876
1873
70
1870
299
283
1868
283
1871
•

«...

•

•

.

•

299

1st mortgage

•

15*2

•

•

•

•

....

1,000
50 <fcc
50

1,000

500 &c.

1,000

1,000
1,000
1,000

500 <fec.

No. pas8’gers,
No. through

1,300,789
133,148

local

Total passengers..

1,265,631
135,216

1,000

1,000

1,400,847

100

1,000

7,000,000
2,600,000
800,000
700,000
4,500,000
250,000

1,000
•

•

•

1,000
1,000

CONDENSED BALANCE

79,805,454
2*36

c.

Decrease.
'

2,068

005c.

SHEET, DECEMBER 31, 1878.
Dr.

$28,437,937
4,631,963
545,245
672,619
12,733
289,271
220,061
58,940
85,968
187,530

Equipment bond—trustees
*.
Sundry securities
Sleeping-car company stock
Detroit & Bay City Railroad

Material account
Bills receivable
Uncollected earnings
Cash

$35,142,272

Cr.

Capital stock

$18,738,204

Bonds
Income account

13,191,000
3,192,107
'
20,960
$35,142,272

Miscellaneous accounts

The statement for the year 1879, issued in
December,
the February dividend was declared, was as follows:
“

Gross

earnings (Dec. partly estimated)
Operating expenses and taxes
Percentage of earnings
Net earnings
Interest and rentals

1879,

on

which

1879.

$7,345,700

do

do

do
do
do
do
do

g.
g.
g.

& J. N.
& D.

D.
D.
J.
J.
J.
D.
N.
D.
O.
J.
D.

do
do
do
do
do

Slocks—Last
Dividend.

July 1, 188©
Jan., 1880

May 1,1902-3
1902

July 1, 1885
Mayl, 1890
Sept. 1, 1891

N. Y., S. 8. 8ands <fe Co.
N.Y., Merch. Exc. N.Bk.

Philadelphia, P.& R.Co.

1886

N.Y., Continental N.Bk.
do
do

N.

7
7

Dec., 1901
Jan.

17,
1,
Jan. 1,
Feb. 1,
Jan. 1,
June 1,
April 1,

do

Y., Union Trust Co.
do
do
do
do

-

do

1910

Jan., 1899
June, 1903

do
do
do
do
do

1904-1906

April 19.1911
May 1. 190©
May, 1890

Y., Company’s Office.
do
do

do
do
St. Louis.

moutTy

1880
1890
1907
1927
1907
1909
1902

July 1, 1902
June 1,

M. & N. N.
A. & 0.

6 g

do
do
do

Y., Imp. & Trad. Bk.
do

F. <fe A. N.
J. & J.
M. & N.

8

*

do

M. & N.
M. & N.

g.

June 1, 1895

Jan.

Various
A. & O.

Aug., 1888
July, 1891
May 1, 1892
Feb., 1885

Y., Company’s Office.
New York.

Oot.

1, 1893

Opened November 25,1872.

It is leased to Wisconsin Cen
earnings. April 28,1879, an
order was granted in the United States Court at
of Jesse Hoyt, trustee, appointing a receiver. In Milwaukee, in the suit
1878 rental
was
$136,458. No recent financial information. (Vol. 28, p. 454.) paid
tral at

a

rental of 40 per cent

on gross

Schuylkill Haven.—Schuylkill Haven, Pa., to Locust Gap,
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, III., 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 Albert Lea, Minn., 108
miles; branch to White Bear Lake, 15 miles; total owned and
123 miles.
Connects with the Cedar Rapids & Northern operated,
Railway.
Road was completed in
1877.
Gross earnings for year 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 by the Burlington Cedar Rapids & Northern Rail¬
road. The bonds on the 15 miles were issued
by the Minneapolis &
Duluth Railroad before it Was absorbed
by this company. (V. 30, p. 248.)
Mississippi d Tennessee.—Grenada, Miss., to Memphis, Tenn., 100 miles
Pa., 42*3 miles.

.

Capital stock, $825,400. Debt was consolidated
Earnings for five years past were as follows:

4,367,200
(62*46)

$2,624,500

—(V. 28,

p.

as

above in 1877

Gross

Years.

Miles.
;

100
100
100
100

$6,991,700

$2,721,100

Y., Union Trust Co.

&
&
&
&
&
&
&
&
<fc
&
&

1878.

4,624,600
(62*96)

J. N.
J.
N.
N.
J.
N.
S.

pal,When due.

Mine HiU &

121,382

Construction account
Construction account—branches

g.

6 g7
.

&
&
&
&
&
<fc
&

Whom.

J.
J.

g.
g.
g-

7g.

800,000

33,090

1,433,937

Total moved 1 mile 79,684,072
Earnings per mile.
2-41 c.

6
7
7
6
7

Payable, and by

Payable

J.
J.
J.
J.
J.
J.
M.
J.
A.
J.
J.

3*2
7
7
7
7
8
8
7

Where

....

10

800,000

•

35,158

Increase.

8
7 g.
7
8

6,068,600
1,000,000

129 miles.

1877.

8
8

1,800,000
21,405,000
2,433,000
349,000
14,752,000

100

PASSENGER STATISTICS.

1878.

8

*

When

J.
J.
M.
M.
J.
M.
M.

8

1,100,000
1,000,000
1,100,000

1,000

•

1876
1873

8
2 in

280.000

.

500 &c.

1872
•

1,000
1,000
1,000

1,000
1,000
1,000

Rate per
Cent.

491,200
424,000
1,906,000
1,094,000
613,000
1,943,000
400,000
750,000
2,134,000
3,969,600
320,000
455,000
1,100,000

11874-956.
1874-6578
do
1st mort. (N. of Win.), conv.
may
do Cons. m. on whole line (300in.) ] be r’g
Middletown Unionville d Water Gap—1st mortgage.
MUwauIcce Lalce Shore d Western—1st m.,gold. .
Milwaukee d Northern— 1st mortgage
Mine HUl d Schuylkill Haven—Stock
Mineral Point—1st mortgage r.

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Date Size, or

For explanation of column headings, &c., see notes
of
of
on first page of tables.
Road. Bonds

do
"
Detroit &
do
*

[Vol. XXX.

,....

95.)

100

Earnings.
$455,911

Net

Earnings.
$211,333
241,798
212,768
176,935
186,640

-

469,272
,

433,440
378,780
471,344

Missouri Iowa d Nebraska.—Proposed line,
Alexandria, Mo., to Nebraska
City, la., 300 miles; completed line, Alexandria, la., to Corvdon, la.*
$974,600 113 miles. In 1877-8, deficit in operations was
$3,125.
The stock
($5 20)
paid up is $1,457,225. F. N. Drake, President, Centreville, la.
:
Missouri Kansas
$281,100 miles. Branches: d Texas.—Hannibal, Mo., to Denison, Texas, 576 *
Parsons, Kan., to Junction City, Kan., 156
749,500
miles;
Holden (Mo. Pac. RR.) to Paola, Kan., 54
miles; total, 786 miles. In
10,000
Feb., 1880, the 54 miles, Holden to Paola, was leased to Mo. Pac. This
Surplus
60,500
company was organized April, 1870, and embraces by consolidation the
$1,101,100 Union Pacific—Southern Branch, the Tebo & Neosho and
The only charge to construction
other minor
during the year was $10,000 for land. companies. In 1874 the Hannibal & Central
Included in operating expenses are the following items:
Missouri was
$50,000 for new This company made default on their consolidated bonds in purchasedand additional cars; the cost of 5,000 tons steel rails in
Dec., 1873*
excess of value
and was operated by a receiver from Dee.
of iron, and renewal in iron of wooden
30,1874, to July 1,1876, when
bridges at a cost of about $50,- the Union Trust Company of New York took
000. The road, equipment and
possession. In 1879 there
property have been fully maintained at a was a contest for the possession of the road
between the Jay Gould party
high standard.” *
and the Chicago Burlington <fc
The Jackson Lansing <fc Saginaw debt is assumed
Quincy party, which ended by the success
by Michigan Central, of the former and the election of Mr. Gould as
which also pays $70,000 per year on the stock of
president in January*
$1,966,800, one-third 1880. The company had a land grant from the United
of which it owns; the proceeds of J. L. & 8. lands
States estimated
go to pay bonds. at 817,000 acres and from the State of
Kansas 125,000 acres. There is
Interest was passed on the Detroit and Bay
City bonds, not guaranteed, also a grant in the Indian
Territory of 3,622,400 acres subject to the
November, 1875. Detroit & Bay City net earnings in 1878 were $94,995.
extinguishment of the Indian title. Several coupons are overdue on the
Operations and earnings for five years past were as follows:
consolidated mortgage tnmds. Annual interest
charge now is $776,398.
Passenger Freight (ton)
Gross
Net
Div. The M. K. & T. bonds and U. P. S. Br. bonds draw five
per cent in 1879Years.
Miles.
Mileage.
Mileage. • Earnings. Earnings, p. c. 81. Earnings for five years past were as follows:
800
Years.
318,366,003 $7,102,286 $2,034,189
Miles.
Gross Eam’gs.
Net Eam’gs.
803 86,847,889 396,046,422
6,850,964
786
2,048,062
$2,904,925
$1,224,560
1876-7.
803 93,830,515 473,837,807
6,498,127 1,791,685
786
3,217,278
1,215,999
1877*
803 51,354,147 252,373,503
3,903,514
786
1,312,499
3,197,321
952,211
..8781
803
79,684,072 548,053,707 6,872,094 2,709,353 2
780
2,981,681
348,483
...9781
Balance
Equals per share
Balance for 1879 appropriated as follows
Dividend l1* per cent August, 1879
Dividend 4 per cent February, 1880
Construction—Land

1,620,000
$1,101,100
($5 87)

1,649,900

“

.

.

..

*

Seven montlis only.

—(V. 28, p. 413, 599; V. 29, p. 330, 511, 657.)

3 **

—(V. 28, p. 146, 173, 298
p. 67, 117.)

.

3,343,373

;

V. 29, p. 119, 170, 278, 302, 358, 658

;

Y. 30*

Middletown VnionviUe d Water
Missouri Pacific.—From St.
Gap.—Middletown, N. Y., to Unionville, N. J. State Line, 13 miles. Read opened June 10, 1868. Is leased miles; branch line, Kirkwood, Louis, Mo., to State Line of Kansas, 283
Mo., to Carondelet, Mo., 13 miles; leased
to the New Jersey Midland Railroad at a rental
of 7 per cent on stock lines, 127 miles, as follows:
Osage Valley & Southern Kansas, 25 miles;
($123,850) and interest oil bonds. G. Burt, President, Warw ick, N. Y.
St. Louis & Lexington, 55 miles; Missouri River R.
R., 25 miles; Leaven¬
worth Atchinsou & N. W., 22 miles; total
MUwaukee Lake SJvore d Western.—This road extends from
operated in 1978 423 miles.
Milwaukee, In
Wis., to Tigerton, Wis., 176 miles, and has branches from Manitowoc to
February, 1880, leased also St. Joseph <fc Atchison branch of Han¬
Two Rivers, 6 miles, and Hortonville to
Oshkosh, 23 miles. It is a con¬ nibal & St. Joseph Railroad,T9 miles; and the branch, Holden to Paola*
solidation of the Milwaukee Manitowoc & Green
Baj^ and the Appleton Kan., which, with the St. Louis Kansas & Arizona, built by this road*
& New London railroads.
Road was completed to Clintonville at the makes 112 miles, Holden to Le Roy.
The Pacific Railroad of Missouri
close of 1878 and extended to Tigerton in
1879; a further extension of was sold in foreclosure of the third mortgage September 6, 1876, for
17 miles is rapidly progressing. The
the nominal price of $3,000,000, to C. K.
Garrison and others,, and
company defaulted on the interest
of its bonds in December, 1873, and on December
this company was organised with a stock of
$800,000. The validity
10, 1875, the property
was sold in foreclosure for
of the sale has been contested
$2,509,788 and purchased by bondholders.
by N. A. Cowdrey and others, but
The reorganized company has $5,000,000 preferred
with little prospect of success.
In 1877 the gross earnings were re¬
stock and $1,000,000
common stock, and funded debt as
given above. In 1877-8 gross earn¬ ported at $3,984*,442; net earnings, $1,660,086; but nothing later has
ings were $245,025; operating expenses, $195,280; net earnings. been reported. Default was made on Carondelet Branch bonds October
$49,745. (V. 29, p.226; V. 30, p.84,144.)
1, 1877, and compromise bonds at 50
per cent were offered January,
1878. In November, 1879, a
MUtcaukee d northern— Milwaukee, Wis., to
controlling interest in the stock was sold to
Menasha, Wis*, 102 miler ; Mr. Jay Gould for
$3,800,000. (Y. 28, p. 18; V. 29, p. 293,433, 538; V
branch—Hilbert, Wis., to Green Bay, Wis., 27 miles; total road operated,
30, p. 192, 222.)




Subscribers will

confer a great favor

DESCRIPTION.
on

first page

by giving Immediate

Miles
of

Date
of

Road. Bonds

of tables.

Hr
these Tables.
<*
Bonds—Princi¬
INTEREST OR DIVIDENDS.

notice of any error discovered In

pal,When Due.

Size, or

Amount

Rate per When Where
Outstanding
Cent.
Payable

Par
Value.

1874-659
6785781
■Mobile d Alabama Grand
1st mortgage bonds

Mobil£ d Girard—2d mort., end. by
3d mortg. bonds issued to Central

Mobile d Monti7.—Stock
Mobile d Ohio—Stock

Cent. Ga. RR..
R. R. Ga

Tennessee substitution, 1st mortgage,
New mortgage, gold
1st pref. ine. and s. f. debentures,

2d
3d
4tb

do
do

•

•

•

•

•

•

1879

-

-

84
84

Naugatuck—Stock

Mobile d Alabama

....

34
137
^

Nashua d Lowell—Stock
Bonds for freight depot (gold)
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
1st mort. on Tenn. &Pac
do
do
do
for Jasper Branch.»
Nashville d Decatur—Stock, guar’d 6 p. c. by L. A N.
1st mort. guar. s. f..
2d mortgage
'

*

.

54

....

....

....

-

-

-

.

1864
1866
vari’ue
1871
1871
1875
m

.

.

..

.

50
250 <
500 «fec.

1,000
1,000
1,000
1,000
....

100

1873

345
....

340
75
30

7*3

122
122
122
57

...

.

25

1871

1873
1877
1877
....

^

^

.

1870
1867
....

11887744--659569.
1874-56
284,000
573,000

4,99lj000

5,050,000
1,025,000
800,000
200,000

187-9

6,575,295
1,000,000

940,000

1,000

1,000

1,000

1,000
...

1,000

500
100

,

Grand Trunk.—From

15,000,000
5,000,000
3,000,000

Mobile, Ala., northwest to

mortgage bonds,
has
proposed
then

Bigbee Bridge, 56 miles. The stock was $450,000; first
$1,124,000. City Mobile bonds donated $750,000. The company
just been reorganized (see V. 30, p. 222). The plan
was to
Issue for the first mortgage bonds 6 per cent second mortgage bonds for
75 per cent of their face and 25 per cent in stock for the balance;
to issue a new 6 per cent mortgage for $3,000,000 upon the entire line
of 232 miles, which it is estimated would complete the road. Francis B.
<fiark, President, Mobile, Ala. (V. 30, p. 222.)
Mobile d Girard.—Line of road, Columbus, Ga., to Troy, Ala., 84 miles.

4,860j000

320,000
300,000
90,000
1,512,000
1,817,000
206,000
2,000,000

Whom.

Y., Nat. City

F. & A. N. Y.,

2^3

900,000
800,000

....

'

*

N.

...

Bank.

Jan., 1889

Drexel, M. A Co. Feb" 2,'1880

A J. New York and London.
A D. Mobile and New York.
Yearly.

7 g.
G g.
7
7
7
7
2

J.
J.

313

J.
SI
F.
J.
F.
A.
J.

Yearly.
Yearly

Yearly.

7
7
7

7
7
7
7
3
6 g.

A
A
A
A
A
A
A
.

1*3
4
6
7
6
6
6
3
7
6 g.

5

Stocks—Last
Dividend.

....

....

2,000,000
600,000

....

1879
1879

4

1,668.000
7,000,000
5,500,000

Payable, and by

....

J. & J.

8

3,022,517
5,320,600

1,000
1,000

.

.

.

100
100

.

•

40
137

Convertible bonds
Construction bonds
Gen. m. A 1st on Boonton Br. &c. (guar. D.L.&W.)
Consol, mort. (for $25,000,000) guar. D. L. A W..

'

.

•

.....

sinking fund

Special real estate mortgage

.

^

^

7

1,124,000
300,000
800,000

1,000

1869
1877

1871
1879
1879

.

....

.Montpelier & Wells River—Stock
Morris d Essex— Stock
1st mortgage,
2d mortgage

1.86
505

$450,000

$....

•

sterling...

not cumulative
do

do
do
do

do
do
do

56
56
85

Trunk—Stock

39

STOCKS AND BONDS.

RAILROAD

March, 1880.]

.

.

J.
N.
A.
J.
A.
O.
D.

-

Boston.
N. Y.. Del., Lack

do

Feb., 1880

& W.

do
do
do
do

do
do
do
do
do

do

do

1880
Mayl, 1914
Aug. 1, 1891
Jan. 1, 1900
Aug. 1, 1889
Oct., 1901
June 1,1915
Jan. 1,

_

Boston A. Nashua.
M. A N.
Boston.
F. A A.
A. A 0. New York A Nashville.
N. Y., V. K. Stevenson.
J. A
J. A
J. &
J. A

J.
J. N. Y., Metrop. Nat.
do
do
J.
do
do
J.

Bk.

....

J. A
J. A
A. A
J. A

1901
Dec. 1, 1927

D.
J. N. Y., Drexel, M. A Co.
O. Nashville, Co.’s Office.
J.
Bridgeport, Conn.

Nor. 1, 1879

Aug. 1. 1893
Oot. 4, 1879
1881 and ’91

July 1, 1913
Jan.

1. 1917

Jan.

1, 1917

Dec., 1879
July 1, 1900
Oct., 1887
Jan. 15,1880

Operations for five years past were as fol¬
Freight (ton)
Gross
*Net
Mileage.
Earnings. Earnings.
46,396,859 $
$
8,745,657

land, about 1,150,000 acres.
lows:
Years.

*

After

Milos.
529

529

Passenger
Mileage.

9,044,895

52,319,056

1,984,536

9,004,770
2,072,634
529
61,388,247
529
8,715,315
70,706,581
2,098,540
506
>
deducting all expenses, including extraordinary.

211,515
163,226
376,321

120. 250; V. 30, p. 222.)
Montpelier <6 Wells River.—Montpelier to Wells River, Vt.,38 miles.
D. R. Short well, President, East Cam¬
•Common stock, $p87,064; preferred stock, $279,745, and $12,130 Pike Reorganized January, 1877.
county stock. Second mortgage bonds are endorsed by Central Railroad bridge, Mass. (V. 30, p. 169.)
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 was leased in perpetuity to the Dela¬
ware Lackawanna A Western Railroad.
The lessees assume all liabili¬
were $195,907 and net earnings, $60,335.
(Vol. 29, p. 40.)
Mobile d Montgomery.—From. Montgomery, Ala., to Mobile, Ala., 179 ties of the Morris A Essex Railroad, and pay 7 per cent per annum on
miles. Default was made on the bonds in 1873 and the road was sold in the capital stock, and they also agreed to pay 8 per cent in case the
foreclosure November 16, 1874, and purchased by bondholders, who Morris A Essex earns 10 per cent on its stock in any one year after the
organized this company on a stock basis. The road has done well, and in year 1874. Earnings for five years past were as follows: Net
Div’d
Gross
November, 1879, $1,530,000 of the stock owned in this country was
Years.
Miles.
Earnings, p. ct.
Earnings.
purchased by parties in the interest of the Louisville A Nashville Rail¬
121
$1,475,714
7
$4,340,351 .
road at 96, giving the control to that company. The old mortgage debt
121
3,452,319
1,184,723
7
yet out is $275,000. Gross earnings in 1879, $704,580; net, $228,713.
121
3,368,441
1,222,507
7
—(V. 28, p. 327; Y. 29, p. 608; V. 30, p. 169, 247.)
121
2,710,117
7
782,328
Mobile d Ohio.—From Mobile, Ala., to Columbus, Ky., 472 miles;
branches: Narkeeta,"Miss., to Gainesville, Ala., 21 miles; Artesia, Miss.,
to Columbus, O., 14 miles; Artesia, Miss., to Starkville, Miss., 11 miles; -(V. 28, p. 451.)
Muldon, Miss., to Aberdeen, Miss., 10 miles; total, 528 miles.
In 1880 Nashua d Lowell.—From Lowell, Mass., to Nashua, N. H., 15 miles;
extension to Cairo, Illinois, 20 miles, to be built.
The company leased: Stony Brook Railroad, 13 miles; Wilton Railroad, 16 miles;
funded coupons from their bonds in February, 1867, and resumed Peterborough Railroad, 10 miles; total owned and operated, 54 miles.
payment of interest May, 1870. In 1872 the second mortgage bonds The road was operated with the Boston A Lowell till Oct. 1, 1878, this
were issued to pay floating debt.
A default was made May 1,1874, and road taking 31 per cent of the joint earnings. Operations and earnings
two trustees and receivers' took possession May 8,1875. The stock and for five years past were as follows:
Passenger
Net Div.
Freight (ton) Gross
bonds of the company were placed on the N. Y. Stock Exchange list in
Miles.
Mileage.
Mileage.
Earnings. Earn’gs. p.c.
July, 1879, and from the statement then submitted the following Years.
11,724,609
$56,465 ..
54
6,370,976 $518,396
•description is taken. The new liens issued and to be issued are as
54
10,995,583
7,146,923
502,325 133,721 2
follows: First.—New mortgage to the Farmers’ Loan A Trust Co., of
7,119,318
54
11,049,587
506,047 142,063 4
New York, as trustees, upon the main line, excluding branches, to secure
54
10,832,906
481,358 140,306 2
7,526,444
bonds in the aggregate amounting to $7,000,000, elated June 1, 1879,
due, in gold coin of the United States, Dec. 1, 1927, interest at 6 per
29, p. 459.)
-cent per annum in lawful money, represented by coupons, payable June
Nashville Chattanooga d St. Louis.—From Chattanooga, Tenn., to Hick¬
1 and Dec. 1 each year, in the cities of New York and Mobile. The whole
^amount of these bonds will be issued at once. Second.—Deed of trust to man, Ky., 321 miles; branches—Wartrace, Tenn., to Slielbyville, Tenn.,
the Farmers’ Loan & Trust Co., as trustees, to secure four series of pre¬ 8 miles; Bridgeport, Ala., to Victoria, Tenn., 19 miles; proprietary
ferred income and sinking fund del>enture8, which will be issued only to lines—Nashville to Lebanon, 30 miles; McMinnville to Manchester, 35
the extent required to meet the outstanding liabilities of the Mobile <fc miles; Decherd to Fayetteville, 40 miles; total, 453 miles. In 1872 this
Ohio Railroad Co., after deducting the amount of such liabilities pro¬ company purchased the Nashville A Northwestern Railroad from the
In 1879 they
vided for in and by the new mortgage of $7,000,000, and the aggregate State of Tennessee and in 1877 the Tenn. A Pacific RR.
amount of such issues will not exceed the sum or—
acquired the St. Louis A Southeastern and Owensboro A Nashville. The
In first preferred income and sinking fund debentures, issued
company has been one of the most active and enterprising of the
in extension of the balance due on first mortgage liens
$5,500,000 Soiitnern railroads, and in 1879-80 had formed connections for a through
route from St. Louis, Mo., to Savannah, Ga., being in active competition
In second preferred income and sinking fund debentures,
2,000,000 with the Louisville A Nashville Railroad Company. At this Juncture the
issued in extension of the second mortgage liens
officers of the last-named company purchased ee controlling interest in
In third preferred income and sinking fund debentures, issued
in extension of the third mortgage liens
600,000 the stock of the Nashville Chattanooga A St. Louis Company. (See
Chronicle, V. 30, p. 91.) The debt to the United States and the bonds
In fourth preferred income and sinking fund debentures,
issued in extension of the unsecured indebtedness
900,000 endorsed by Tennessee are secured by deposit in trust of this company’s
These debentures are secured by a deed of trust to the Farmers’ Loan first mortgage bonds. Earnings for five years past were as follows: •
Gross
Net
Div’d
Trust Company, covering specifically the lands (including^ over
Years.
Miles.
Earnings.
Earnings, p.ct.
1,150,000 acres of land donated by the United States) and other prop¬
3
341
$1,680,826
$528,872
erty not necessary for the operation of the road, and providing also a
341
1,751,600
3
728,176
sinking fund, into which the proceeds from the sales of lands and from
341
1,632,277
682,302
3
other sources, as is fully set forth in said dc>ed of trust, are to be paid,
453
1,871,809
767,995
2
and applied to the extinguishment of the principal of the debentures in
1,736,723
715,135
3
the order of their priority. Interest at the rate of 7 per cent per annum,
or in multiples of 1 per cent, but not exceeding 7 per cent in any one
-(V. 28, p. 554; V. 29, p. 224, 407,511,631,658; V. 30,p. 91,222,248.)
year on these debentures, is payable annually upon each series in the
Nashville d Decatur.—From Nashville, Tenn., to Decatur, Ala., 122
order of their priority, but only if earned in the preceding fiscal year, miles. The road was leased May 4, 1871, to the Louisville A Nashville
and is non-cumulative. For each $100 of principal money of said deben¬ Railroad for 30 years from July 1,1872, at a rental of 6 per cent per
tures the holder of record is entitled to one vote at all meetings of annum on the stock, to begin alter the completion of the So. A North Ala.
holders of such debentures (which by agreement are to be called in RR., and the first dividend under this arrangement was paid April lt
anticipation of all meetings of stockholders) for the purpose of instruct¬ 1875. The lessee assumed all the debt of the Nashville A Decatur Co.
ing the Farmers’ Loan A Trust Company, trustees, now to vote at such
Naugatuck.—Naugatuck Junction to Winsted, Conn., 56*g miles;
stockholders’ meetings upon the minority of the stock of the Mobile A Watertown A Waterbary Railroad, 4*o miles, is leased; total miles
Ohio Railroad Company, the power to vote upon which is irrevocably operated, 61. From Naugatuck Junction Bridgeport is reached by use
with the Farmers’ Loan A Trust Company, until the extinguishment of the track of the New York New Haven A Hartford Company. Debt was
said debentures. The foregoing bonds and debentures are issued in for¬ extinguished in 1876 by the payment of the first mortgage bonds then
bearance, extension and compromise of the present indebtedness of the maturing. Dividends are regularly paid. Operations and earnings for
Mobile A Ohio Railroad, the entire amount of which (excepting less than five years past were as follows;
1 per cent of. the first liens and a very limited percentage of the inferior
Gross
Passenger Freight (ton)
Net ,, Div.
liens), with the power and authority to avail of the decrees of the Years.
Mileage.
Mileage.
Earnings. Earn’gs. p.c.
Miles.
Circuit Court of the United States, adjusting and establishing said in¬
501,396 222,327 10
61
6,207,451
4,098,560
debtedness, are assigned and transferred to the Fanners’ Loan A Trust
61
6,250,991
3,906,131
501,604 206,084 10
Company, as trustees, for the further security of the bonds and deben¬
61
5,899,088
4,308,194
520,820 207,759 10
tures herein referred to. The capital stock authorized by the charter is
6,214,917
5,742,6Q5
477,834 206,301 10
61
$10,000,000, or 100,000 shares of $100 each, of which there have been
499,880 222,275 10
issued 53,206 shares. The debentures are secured by a deed of trust of the




—(V. 29, p. 41,

of

40

RAILROAD
Subscribers

confer

a

DESCRIPTION.

STOCKS AND BONDS.

great favor by giving immediate
notice of any error discovered
in these Tables.

Miles Date
For explanation of column
headings, &e., see notes of
of
on first
page of tables.
Road. Bonds

Size^

or
Par

*

-

INTEREST OR DIVIDENDS.
Rate per

Cent.

1869

Where Payable, and
by
Payable
Whom.

«

«

«

sinking
(Hudson River)
Npw mort^Aoe £ $30,000,000 1 coupon or
regis
Newmortea0ej

1,000

1865

100 &c.
500 &c.

£2,000,000 5

1872
1880
1871
1874

1854

1,000

840

1873

4,000,000

£100&c
100
500 &e.
500 <fec.

7

1,000
1,000
1,000

8

M. & S.
M. & N.

Newark <t

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

Cortlandt Parker, President,
$250,000.
Newark, N. J.
Newark Somerset d£
Straitsville.—Newark, Ohio, to Shawnee, Ohio, 44
miles. Road was completed in 1871.
Leased to
Newark for 14 years from
Sandusky Mansfield &
January 1,1872. Operated by the Baltimore
& Ohio, which pays 30 per cent on
gross earnings, and advances
additional amount necessary to meet
any
the interest on the debt.
Capital
stock, common, $783,900, and
preferred, $189,550. Gross earnings in
1877-8, $135,295; net, $50,749 ; deficit to
lessee, $5,251.
<£

Connecticut.—Dutchess Junction

The Dutchess & Columbia
Railroad

.

«,uuv

wuu

Bchultze, President, Moor’s Mills, N. Y.

to

Millertown,

was sold

August 5,
1877, by the purwere $135,823; net,
preferred stock $715,350.

Newburg & N. Y.—Yail’s

Gate Junction to Greenwood
miles. Leased October
5,1866, to Erie RR., at $17,500 per Junction, 13
annum, and
operated now by N. Y. Lake Erie & Western.
Nominal stock, $500,000.
New Castle d> Beaver
Valley— Homewood, Pa., to New Castle,
miles. Road in operation since 1860.
Pa., 15
Leased to Pittsburg Fort
A Chicago Railroad for 99
Wayne
years at a rental of 40 per
cent on gross earn¬
ings. Lease transferred to Pennsylvania
Company. There is no debt.
In 1878, 24 per cent in dividends
was
$268,143; net earnings, $126,789; rental paid. Gross earnings in 1878,
received, $107,789.
New Haven <t Derby—New
Haven, Conn., to Ansonia, Conn., 13 miles.
Road opened August 9, 1871.
Capital stock is $447,100. New Haven
City guarantees the $225,000 second
mortgage bonds. Gross earnings
in 1877-8, $102,113; net,

$36,409.

New Haven <6

Y., Union Trust Co.

Q.-J.

Newcastle, Penn.

Various N. Haven, E.8. Scranton
New Haven.
....

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

&
&
&
&
&
&
&

J.
0.
O.
A.

do
do
do

N.

Nov. 1. 1889

1,794,000
18,465,000

9,733,333

Oct., 1873
Jan., 1899
April ’80 & ’82
1895

A.
do
do
1881
B. New York and
London. March 1,1893
N.
In default.
Nov.

1

2,391,000

Jan., 1880
1898 to 1900

Apr.1,’91 &’98

Y., Co.’s Office.

New London, Office.
Q.-J.
A. & O. N. Y., B’k of N.
America
J. & D.
do
do

I

1870, and was leased for 999 years to the Le¬
high Coal & Nav. Co. at a lease rental of $130,000
option for the lessees to terminate it after 1878. per annum, hut with an
In 1879 the lease was
modified so as to pay 7 per cent a
year only.
(See terms, Y, 29,p. 18.)

N.

office

7 g. J. & J. New
York, Co.’s Office.
6 g- M. & N.
London, Baring Bros.
2
Q.-J. N.Y., Gr. Central Depot.
6
M. & N.
do
do
6
M. & N.
do
do
6
M. & N.
do
do
6
M. & N.
do
do
6
J. & D.
do
do
7
J. & D.
do
do
7
J. & J
do
do
6 g. J & J.
London.

1

Nesquehoning Valley— From Nesquehoning
Junction, Pa., to Tammanend, Fa., 17 miles; Tunnel Branch,
Hanto, Pa., to Lansford, Pa., 1 mile;
total, 18 miles. Opened in

Philadelphia, Co.’s

or

4,000,000
89,428,300
6,632,900
■74,500
592,000
162,000

1,000
1,000
....

1873

1>4
6

(?)

....

840

tered.

3
7
6
6 & 7
7 g7
7 g.
7

1,500,000

100

■

1853
....

(?)

916,000
2,120,000
1,500,000
300,000
387,500

1S53
1854

•

1874-965.

1,000

n*

7

3,000,000

1,000

cr

7

885,000
260,000

100 &c.
100 &c.

1,000

....

Newburg Dutchess

Stocks—Last
Dividend.

....

1,296,000

1869

37

112

1,000
1,000

1870
1870
1871
1873

80
80

4

250,000
605,000
525,000
2,460,000

100

*

....

N. Y., 59 miles.

J

When

6
H

1,164,500

....

50
...

3k*

250,000
800,000

68&70 500 &c.

10

78
100
100
100
100
140

$1,300,000

500 &c.

....

12
15
13
100
92

1st M.t$60,000 6s, ’98 guar.)

1st mortgage bonds
2d mortgage
New bonds (for
$1,500,000)
N. O. <£ Mobile.—1st
mortgage
N. Y. & Canada—1st M.,
sterling, guar. D.& H. Can.
New York Central <£• Hudson
River—Block
Premium bonds
(N. Y. Central)—
Bonds, B. & N. F. stockholders
do
Bonds railroad stock
do
Bonds real estate
do
Renewal bonds
2d mortgage,
fund

1869

’

Haven <6 Derby—1st & 2d
mortgages
New Haven <& Northamp. (canal
RR.)—Stock
Mortgage bonds, coupon
Bonds convertible, tax free,
coupon

N.J, Midland—1st mort.,
g’ld, guar, by N.Y.& 0
2d mortgage, currency
New
Jersey New York— 1st mort. (for $1,500,000)
N. J. Soutnenir—1st
mortgage
New London Northern—Stock

$50

5
44

Straitsv.^O.—1st mortgage
Newburgh Dutchess <£ Connecticut—Income bonds..
Newburgh <£• New York—1st mortgage
New Castle & Beaver
Valley—Stock~
New

1874-65

Outstanding

Value.

16k*

Newark Somerset <&

John S.

Amount

--

Nesquehoning Valley—Stock

Newark <£• Hudson—1st mortgage

Holyoke & W. .leased,

[VOL. XXX.

1. 1889
Jan. 1, 1880

Sept., 1885
July, 1892
Jan.

1, 1915

May 1,1904

Jan. 15. 1880

May 1, 1883
May 1,1883
May 1,1883
May 1, 1883
Deo. 15, 1887
June, 1885
1, 1903
Jan. 1, 1903

Jan.

J

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.
New London Northern.—From
29, p. 121.)
New Loudon,
Mass., 100 miles. This road has been operated Conn., to Miller’s Falls,
since December
under lease to the Central
Vermont Railroad; the lease was for1,1871,
years at $155,000 per
twenty
permitted to retain the year. asThe lessees, though insolvent, have been
lease
essential to their lines.
Operations and
earnings for five years past were as follows:

Years.

Miles.
100
100
100

100

Passenger
Mileage.
4,526,574
5,899,360
5,941,778
4,765,084

Freight (ton)
Gross
Mileage.
Earnings.
9,237,318 $500,170
10,729,982
498,730
12,169,737
507,889
11,610,469
470,455

Net

Div.

Earnings.
$123,426
150,448

137,135
129,609

(V. 30, p. 169.)

New Orleans <£ Mobile.—From
New Orleans, La., to
Mobile,
miles. This is the eastern division
141
of the former New Orleans Ala.,
Missouri
& Texas Railroad. It has been
operated by the mortgage trustees since
February 1,1875. Expenses have exceeded the
earnings, and certifiicates of indebtedness on
January 31, 1879,
ruary, 1880, a decree was given for another were $700,000. In Feb¬
sale, and the Louisville &
Nashville Railroad will

probably purchase. (V. 30, p. 170.)
Whitehall, N. Y., to Rouse’s Point, N. Y..
Ticonderoga, N. Y., to Lake George, N. Y., 4
miles; Plattsburg, N. Y., to
Province line, 13 miles; total, Ausable, N. Y., 20miles; West Chazy to
150 miles. This
New York & Canada.—From
113 miles; branches:

company was organized
March 1,1873, as successor of
the
treal & Plattsburg railroads. The Whitehall & Plattsburg and the Mon¬
whole line was completed
September
18,1876. The road is virtually owned
Delaware & Hudson Canal
Company, which guarantees the bonds. by the stock is
The
$4,000,000. Earaand expenses are included in
the Rennselaer and
urns.

Saratoga Railroad

(V. 29, p. 581.)

New York Central <&
Hudson—New York City, N. Y., to
442 miles; branches on New
Buffalo, N. Y.,
York Central
division, 298 miles; total
owned, 740 miles. Lines
leased—Troy & Greenbush, 6; Niagara Bridge
& Canandaigua, 98;
Spuyten Duyvil
falo), 8; Syracuse Junction, 8; New & Port Morris, 6; Jun lion (Buf¬
York & Harlem, 127; Lake Mahopac, 7; total, 260 miles; grand total, 1,000 miles.
The second track
owned is 465 miles; third
track, 258

Northampton.—From New
Mass., 84 miles. Branches: Farmington, Haven, Conn., to Williamsburg,
Conn., to New
14 miles;
Simsbury, Conn., to Tariffville, Conn., 1Hartford, Conn.,
mile. Leased: miles;
miles; fourth track, 225
Holyoke to Westfield, Mass., 10 miles; total
owned, leased and operated, owned turnouts, 468 miles—making a total of 2,156 miles of track
*109 miles. This
by the company. This
company has a perpetual lease of the
Westfield Railroad at 50 per cent of
company was formed by a consoli¬
Holyoke and dation of the New York Central and
the gross
the Hudson River railroads
of $14,000 per year is
earnings, but a minimum .1,1869. The New York
October
guaranteed. This
Central was a consolidation of
company voted January, 1880, under a
to build an extension to Turner’s
several roads,
special law of April 2,1853. The
Falls, with branch to the State road, at road
an estimated cost of
Albany & Schenectady Rail¬
opened September 12,1831, as the Mohawk
$650,000. Operations and
& Hudson. It was the
earnings for five years first railroad
past were as follows:
Years.

Miles.
109
109
109
109

9-8781

—(V. 28,

p] '40,* *40iy V.

New

Passenger
Mileage.

4,926,399
4,626,908
4,516,618
5,455,832
30,

p.

Freight (ton)

Gross

Mileage.

Earnings. Earnings.
$592,701 $193,451

10,101,674
I,1256,872
II,719,954

567,667
544,452
548,200

11,889,310

177,851
191,532
206,547

43.)

built in the State of New York.
The company paid but
very moderate dividends until Commodore
Vanderbilt bought a controlling
interest in 1867-8. The famous
scrip dividend of 80 per cent on the
capital stock was made in December,
1868, and on the consolidation
with the Hudson River road
(November 1,1869) a further dividend of
27 per cent was distributed on
the New York Central stock and
85 per
cent on the Hudson River
stock. The
mortgage for $40,000,000 was
issued to lay the third and fourth
tained by the company to retire all tracks, with a sufficient balance re¬
prior bonds. The company has paid
8 per cent dividends, and a
controlling interest in the stock was held by
the Vanderbilt

Jersey Midland.—From West End, N. J., to Unionville
(New York
line), 71 miles; leased—West End into
Jeersey City, 4 miles; New Jersey
State line to Middletown, N.
family until November, 1879, when 250,000 shares
Y., 13 mile ; total leased and
miles. Placed in the hands of
operated, 88 ($25,000,000) were sold to a syndicate of bankers
receivers March 30, 1875. The
by Mr. W. H. Vander¬
bilt at the price of 120. On the 22d
sold in foreclosure Feb.
road was
of January, 1880, the
1,1880. For an account of the
syndicate
in the litigation
different phases sold 200,000 of their shares, as
regarding this company, a reference should be
reported by them, at 131 to 135. This
the pages of the Chronicle
made to abstract of operations for
eight years was issued by the syndicate:
indexed below. In addition to
the above
REVENUE ACCOUNTS—1872 TO
mortgages there was a consolidated
1879—EIGHT YEARS.
mortgage of $1,000,000 and capital
Year
stock $1,423,745, and
$65,000 in receiver’s certificates have been
Operat’g Exp’s,
An arrangement has been
issued.
ending
Gross
Interest and
made to recognize in the
holders of junior securities.
reorganization the Sept. 30. Earnings.
Rentals.
Net Income. Dividends.
(Bee V. 30, p. 169.) Gross
1872.. $25,580,675
Surplus.
were $839,703; net
earnings in 1878
$17,608,804 $7,971,871 $7,244,831
earnings, $122,406; which were
$727,039
1873..
fully absorbed by
29,126,851
extraordinary expenses. (V. 28, p. 326, 554; V.
19,603,793
9,523,057
7,136,790
2,386,267
29, p. 252, 538, 670; 1874.. 31,650,386
Y. 30, p. 92, 117, 169, 222,
21,937,031
248.)
9,713,354
7,136,884
2,576,470
1875..
29,027,218
New Jersey <£ New York.—From
21,688,022
7,339,195
7,136,679
202,515
Jersey City (Erie Junction), N. J., to 1876.. 28,046,588
20,833,512
7,213,075
7,139,528
Stony Point, N. Y., 31 miles; leased line. Nanuet & New
73,547
26,579,085
5 miles; total, 36 miles.
19,635,738
City Railroad, 1877..
6,943,347
7;140,659 Def.197,312
Organized September 4, 1874,
of the Hackensack & New
20,872,109
by consolidation 1878.. 28,910,555
038,445
York Railroad and the
7,139,528
898,917
28,396,583
York Extension
Hackensack & New 1879..
20,802,097
7,594,485
7,139,528
Railroad; receiver appointed in 1877. The
454,957
A New York Railroad was sold
Hackensack
in foreclosure
August 14,1878, and was Total. $227,317,944 $162,981,110 $64,336,833
leased to the receivers of this
$57,214,429 $7,122,404
company. The plan of reorganization for Av’ge percentage of
the present
expenses to
company was given at much length in the
lem'line leased in April, 1873. earnings during the 8 years, 58*59. Har¬
Chronicle. (V
29, p. 459, 538; V. 30, p. 248.)
Four-track system was constructed and
bonds sold therefor in 1873 and 1874.
The progress of the
New Jersey Southern— From
company’s pas
Port Monmouth, N.
J., to Atsion, N. J., 65 senger and freight business for ten years past is shown in the following:
miles; branches—Eatontown to
Yr.end’g Passenger Freight (ton) Yr.end’g
Long Branch, 4miles; Atsion to Ateo
9 miles; Manchester to
Passenger Freight (ton)
Sep. 30.
Waretown, 21 miles; Sandy Hook to
Mileage.
Mileage.
Sep. 30.
Mileage.
Branch, 9 miles; Beach Track, 2
Mileage.
miles; Atsion to Bayside, 48 Long 1869 ...341,137,567
606,541,544 1875...338,934,360 1,404,008,029^
total, 158 miles. The property was sold in
miles; 1870 .346,898,809
788,690,604 1876 ...353,136,145 1,674,447,055
foreclosure March 31, 1879 1871
V. 28, p. 352), and the present company was organized 1872 ...313,234,356 905,854,651 1877 ...316,847,325 1,619,948,685uly 25, 1879, with
..

Ssee Chronicle,
Jersey,

as




Judge Lathrop,

receiver of the Central of
New
The capital stock is
$
$136,000 on the Tom’s River RailroadThe property was
and $200,000 on

president.

•Old subject to

.

1873
1874

...342,339,006 1,041,984,687
...364,356,586 1,277,489,897
...350,781,541 1,391,569,707

—(V. 29, p. 563, 655

;

1873
1879

...300,302,140 2,042,755,132
...290,953,253 2,295,825,387

V. 30, f. 17, 92, 170.)

>?

RAILROAD

March, 1880.]
Subscribers will confer

a

AND

Miles

explanation of column headings, &c.,
on first page of tables.

Date

of

see notes

of

Size,

or

Outstanding

$100

Road. Bond 8.

Elevated.—&tock

1st mortgage, $ or
N. Y. City dk Northern—1st mortgage
New York dk Greenwood Lake— 1st mortgage
2d mort., income, (issued for old firsts)..
New York dk Harlem—Common stock
Preferred stock
Consol, mort., coup, or reg., (for $12,000,000)

1876
1878
1875

$6,500,000

1,000

500 &c.
100 &c.
100 &c.

1872
1861

Sinking fund

,

1st consolidated mortgage, gold
do
do
funded coupon bonds
N. Y. L. E. & W., new mort., gold, 1st lien
do
do
do 2d consol
do
do
do fund. coup,
do

459

*

.

do
income bonds (non-cumulative).
New York dkLong Branch—Stock
N. Y. dk Manhattan Beach— 1st mortgage

23

1,000

2,482,000
2,174,000
4,852,000
2,937,000
709,500
182,600
3,000,000
16.656,000
3,688,001
(?)

1,000
1,000

500 ifcc.

1,000

500 &c.
500 <fcc.
300 &c.

139
139

....

1876

1,000

141

100

12*4

1873

•

•

•

•

City Elevated.—From South Ferry, N. Y., east side, to 129tli

street; total, 14 miles. The property was
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 as follows in the Chronicle, V. 29, p. 630:
EARNINGS.

1878.

PAYMENTS.

.

1879

Passengers... $427,417 $2,233,402
News priv’ges
rso
1,550
Interest
N. Y. Herald.
Mail trans’n..

1,906
1,090

1,540

Signs <fe adv’t’g

•

251

1878.

1879.

Transport’ll.. $250,727 $1,171,339
Interest
150,972
477,715
Dividends
N. Y. City

533,925
27,819
28,690

Surplus fund
Total

$401,700 $2,239,489

$429,988 $2,239,489

Passengers carried in 1878, 4,916,322; 1879, 29,875,912. During the
four months ending January 5,1880, the record was as follows: Miles
operated, 14; gross receipts, $922,121; operating expenses, $291,400;
net earnings, $640,721. Total real cost of this road to
January, 1880,
is estimated to have been $8,719,038. The Board of Directors is as fol¬
lows: William R. Garrison,. Cyrus W. Field,
George M. Pulman, A. H.
Barney, J. F. Navarro, Beniamin Brewster, Horace Porter, Nathan Guil¬
ford, Robert Harris, John Baird, H. R. Bishop, George J. Forrest and
Josiah M. Fiske. (V. 28, p, 302, 526, 553, 579; V.
29, p. 407, 511, 630;
V. 30, p. 144.)
New York City dk Northern.—From High Bridge, N.
Y., to Brewster’s,
N. Y., 51 miles. This company was organized
February 18, 1878, and
acquired the New York Westchester & Putnam (formerly the New
York & Boston Railroad), sold in foreclosure
March, 1876. The road
being new, nothing is reported of its operations. R. M. Gallaway, Presi¬
dent, 3 Broad street, N. Y.

(V. 27, p. 172.)
New York dk Greenwood Lake—From
Jersey

City, N. J., to Greenwood

Lake, 40 miles; extension, 1^ miles; total, 41Lz miles. This was the
Montclair Railroad, opened in 1874. It was 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¬

erty.

(See Vol. 27, p. 172, 228.)
It is reported that the New York
Lake Erie & Western purpose extending the road and
making it an im¬
portant part of their line. No recent report of operations has been

made. (V. 27,
539, 628, 652.)

p.

16, 68, 95, 172, 192, 228, 252, 303, 357, 383, 436, 462,

New York dk 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

w

7
5
7
7
7
7
7
7
7
6
6
5
6

24,400,000
8,597,400
508,008

2,000,000
500,000
300,000

....

street; west side, to

Total

11887744--5956.

500 &c.
100 &c.

....

N. Y. dk New England (Bost., Hartf. dk Erie)—Stock.
1st mortgage, new (for $10,000,000)
New York New Haven dk Hartford—Stock
Harlem & Portchester, 1st mortgage guaranteed.

.

Q.-J.

M.
F.
M.
J.
J.
M.
J.

&

J.

pal, When Due.
Slocks—Last
Dividend.

N.Y., Treasurer’s Office.

Jan., 2, 1880
Jan. 1. 1906

New York.
New York.

*

& N.
& A. New York, Co.’s Office.
& S.
do
1
do
& J. N.Y., Gr. Central Depot,
& J.
do
do
& N.
do
do
& J.
do
do

May, 1908
April 1, 1880
April 1, 1880

May, 1900

Jan.

1,1881

.

8,146,700

1,000
1,000
1,000

....

mortgage

New York

107,704
249,000

•

77,107,700

PrpfwTpfl sttnrlr

2d

i

•

Where Payable, and by
Whom.
Payable

6 g. J.

7
7
7*
3 ex.
3 ex.
7
7
7

10,500,000

100
100

1847
1879
1853
1857
1858
1861
1863
1870
1878
1878
1878
1878
1878

or

1,800,000

1,000

500 &c.

itoraf*—Princi¬

When

2%
7

7,500,000
1,550,000

.

1st mortgage (extended in i867 to i.897)
2d mortgage, convertible (extended in 1879)
3d mortgage.
4th mortgage, convertible
5th mortgage, convertible
Buffalo Branch Bonds

Rate per
Cent, t

8,500,000
1,800,000
900,000

50
50

New York Housatonic dk Northern—1st mortgage...
JV. Y. Lake Eric dk MYest.—Stock, common

Long Dock Co. mortgage

41

INI
INTEREST OR DIVIDENDS.

Amount

Par
Value.

277811874-956
N. Y. City

BONDS.

great favor by giving immediate notice of any error discovered in tbese
Tables.

DESCRIPTION.
For

STOCKS

6,136,000
4.708,000
15,500,000
2,000,000

&
&
&
&
&
&
&
&
&
&
&
&
&

g.
g.
g.
g.
gg.

7

5
6 & 7

N.
S.
s.

N.

Y., Co.’S office,

May 1,
Sept. 1,
Mar. 1,
Oct. 1,
June 1,

do
do
do
do
o.
do
do
D.
do
do
J.
do
do
D.
do
’
do
S. New York and London,
s.
do
do
N.
do
1
do
D.
do
do
D.
do
do
D.
do
do

J. & J.
J. & J.

And has
applied to the payment
road and its equipment

1897

1919
1883
1880
1888
July 1, 1891
Jan. , 1893
Sept. 1, 1920
Sept. 1, 1920
Dec. 1, 1908
Dec. 1, 1969
Dec. 1, 1969
June 1, 1977

Boston.

Jan., 1905
Jail. 1, 1880
1903

N.Y., Grand Cen. Depot,

for improvements to the
2,263,218

t

■

%

Balance

hand September 30,1879
$100,899
—The laying of the third rail was
completed on December 24,1878.
The last annual report was published in the
Chronicle, V. 29, p. 679,
The operations and earnings for eight
years past were as follows:
Year end’g
Passenger
Freight (ton)
Gross Traffic
Net Traffic
on

Sept. 30.

Mileage.
156,143,351

164,633,424
160,204,125

Mileage.

965,925,302

1,032,986,809
1,047,420,238

155,396,804

1,016,618,050

163,074,795

1,040,431,921
1,114,586,220
1,224,764,438
1,569,223,137

170,888,380
140,326,749

168,390,000

Earnings.
$18,371,888
20,012,606
18,598,899
16,876,858
15,852,461
14,708,890
15,644,978
15,942,022

Earnings.

$5,777,383
6,371,964
5,035,161
4,197,727
3,621,259
3,809,050
5,009,114
4,767,323

The company has receipts from other
sources, and the total net income
each year (charging full interest on the debt as it
stood), as compared
with the annual charges, were as follows:

Net
Income.

Years.

$4,698,615

Interest,
Rentals, &e.

$6,351,781

Surplus.

Deficit.

$1,653,166

4,308,563
4,636,717
5,718,927
5,469,360

5,538,194
1,229,631
5,937,801
1,301,084
5,093,496
625,431
4,153,255
1,316,105
In the report a condensed balance
sheet, Sept. 30, 1879, the first made
up for several years, was given, making the total assets
$102,631,098.
—(V. 28, p. 17, 67, 302, 3o2, 401, 477, 579, 600; V. 29, p. 18,147,
171, 397, 302, 358, 383, 433, 538, 564, 607, 631, 679, 680; V.
30, p.
43, 67, 170, 222.)
'
‘
New
miles.

York dk Long Branch— Perth
Amboy, N. J., to Long Branch, 23
It is leased to Central Railroad of New
Jersey, forming part of
tnc Long Branch Division of that road.
No further information given.

Anthony Reckless, President, N. Y. City.

New York dk Manhattan
Beach.—Greenpoint, N. Y., to Manhattan
Beach, 15 miles; leased roads to Flatlauds and Manhattan Beach Junc¬
tion, 7 miles; total, 22 miles. This company guarantees 7
per cent on
the bonds, $200,000, and stock, $300,000, of the New Y'ork
Bay Ridge &
Jamaica Railroad. Road opened July‘19, 1877. The stock is
$500,000.
Gross earnings in 1877-8, $298,147; net, $159,280. Austin
Corbin, Presi¬
N. Y. City.
dent,
New York dk New

England.—From Boston, Mass., to Willimantic,

Conn.,
86 miles; branches to Woonsocket Railroad, 34
miles; to South Bridge,
17 miles; to Dedham, 2 miles; total branches, 53
miles; Rhode Island Sc
Massachusetts Railroad (leased), 14 miles; Hartford Providence & Fish-

April 1,1873, for 401 years, to the N. Y. Central & Hudson River RR.,
kill Railroad, acquired in 1879, 133
at a yearly rental from the lessee of 8 per cent dividends on the stock
miles; total operated, 286 miles.
and This was the Boston
Hartford & Erie Railroad, which became insolvent
the interest on the bonds. The Fourth avenue horse
railroad, together and was succeeded
with valuable real estate, was retained
by
by this company, and extra ford & Erie’s principal this company, formed in 1873. The Boston Hart¬
debt was the Berdell mortgage for $20,000,009,
dividends are paid out of the receipts therefrom
annually in April. All for which the stock- of this
present company ($20,000,000) was issued.
operations of the main road are included with those of the N. Y. Central
In 1878-9 the company acquired the Hartford Providence &
& Hudson.
(V. 28, p. 18.)
Fishkill
Railroad by the payment of its bonds. The bonds of the new
New York Housatonic dk Northern.—Foreclosure sale
mortgage,
attempted Feb. issued in 1879, are to pay for the extension of the road to the Hudson
28, 1880, and adjourned to March 13. (V. 30, p. 118, 248.)
River. See last annual report, V. 29, p. 607.
Operations and earnings
New York Lake Erie dk Western.—From
Jersey City, N. J., to Dunkirk, for five years past were as follows:
N. Y., 460 miles; Piermont branch, 18
miles; Newburg branch, 19
Passenger
Gross
Net
Freight (ton)
miles; Buffalo branch—Hornellsville, N. Y., to Attica, 60miles; total Years.
Miles
Mileage.
Mileage.
Earnings. Earnings.
owned, 557 miles; road operated under lease and contract, 413 miles;
139
18,607,127
9,304,650
$899,023 $132,493
total operated, 969 miles. The New York & Erie
139
20,199,327
9,468,574
Railway went into the
963,325
225,855
hands of a receiver in 1859, and in 1861 the Erie
139
19,652,913
11,321,038
Railway was organized
965,601
194,916
as its successor.
The Erie Railway defaulted on its bonds in
153
23,269,082
18,938,845
1875, and
1,006,287
197,890
was sold in foreclosure under the second consolidated
mortgage in 1878.
The present company was
organized and took possession June 1,1878. -(V. 28, p. 353, 428; V. 29, p. 17, 42, 147, 253, 278, 383, 434, 489, 537,
Under jfche plan of reorganization the'above statement
represents all the 607; V. 30, p. 248.)
stocks and bonds issued to September 30, 1879.
The total interest
New York New Haven dk Hartford.—From
charge each fiscal year will be as follows: 1879-80, $3,987,878; 1880Williamsbridge, N. Y., to
81, $4,229,678; 1881-82, $4,229,678; 1882-83, $4,258,080; 1883-84, Hartford, Conn., 123 miles; branches to New Britain, Middletown and
$4,314,884. By the terms of the plan one-half of the stock, both com¬ Suffleld, 18 miles; leases Harlem & Portchester Railroad, 12 miles;
mon and preferred, is issued to "
Voting Trustees ” in London, who shall total, 152 miles. This was a consolidation July 24,1872, of the New
vote on them until the dividend on the
preferred stock (6 per cent) has York & New Haven and the Hartford & New Haven railroads. The

been paid for three consecutive years. The funded
coupon bonds are
secured by lien of consolidated mortgage. On the second
consolidated,
first coupon is payable June, 1880. The second funded
coupon bonds are
5 percents till June, 1883, and after that 6. On the
second mortgage and
second funded coupon no foreclosure can take
place till six coupons are
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 stood as follows: The
assessment paid upon the stock amounted to
$3,416,578.
Of this amount this
company received

During 1879

Total amount received




during.1878.

..

$328,008

2,036,109

$2,364,118

company uses the New York <fc Harlem Railroad from
Williamsbridge
into New York City and pays a large toll therefor. The
company leases
the Harlem River & 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:

Years.

Miles.
152

1875-6..

152

1876-7..
1877-8..

152
152
152

Passenger

Mileage.
123,003,659
123,866,661
111,641,817
105,458,051

Freight (ton)
Mileage.
34,936,946
37,224,658

Gross

Earnings.

$4,540,113

4,303,340
39,646,733
3,938,406
45,594,854 .3,817,281
1878-9..
103,113,443 63.187,479
3,912,743
~(V. 28, p. 40; V. 29, p. 510; V. 30, p 15, 1

Net

Div.

Earnings, p. o.
$1,812,715 10
1,729,279
1.716,029

1,648,788
1,670,862

10
10
10

9

RAILROAD* STOCKS AND BONDS.

42
Subscribers will confer

a

great fiavor by giving Immediate notice of any error discovered in these Tables.

DESCRIPTION.
on

first page

of tables.

344

1st mort., incomes till July, 1886 ($18,000,000)..
2d mortgage, incomes ($12,000,000)
3d mortgage, incomes ($29,000,000)
Leased lines rental gold bonds (Cl. & M.)
do
do
(P. P., P. V. and 8. & A.)
New 1st mortgage bonds (for $4,500,000)
N Y. Prov. <£• Bostonr— (Stonington)—Stock

1874-65.:

460
460

,460

9

62
12
50
98

Extension mortgage
First mortgage

Niagara Bridge t£- Canaiidaigua— Stock

North Carolina—Stock, common
Preferred stock

Mortgage bonds
North Pacific Coast—Stock
North Pennsylvania—Stock, guar

Outstanding

When

Rate per
Cent.

223
223
223
79

,

1st mortgage
2d mortgage
General mortgage bonds
North Wisconsin—1st mortgage
Northeastern (S. C.)—Stock, common
Pref. stock (8 per cent) exchangeable for 2d mort.
1st mortgage, new
2d

mortgage, new
Northern (Cal.)—1st mortgage
Northern Central—Stock
1st mortgage, State (Maryland) loan
2d mortgage, sinking fund, coupon
3d mortgage, sinking fund, coupon

Consolidated mortgage, gold, coupon

1879
1879
1879
1871
1872
1873

'

102
113
317

138
138
138
138

500

*67-’68

1874-965*.

5,355,000
3,568,000

1,000
1,000

(?)
3,000,000
50,000
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
234,000
2,435,000
5,842,000
1,500,000
1,490,000
-1,126,000
2,599,000

1,000
1,000
100
500
50

500 &c.
500 &c.

50
50

1869
1869
1877

500
500
50
....

1855
1865
1868

•

500 &c.
500 &c.

1,000

New York Ontario <& Western.—Oswego, N. Y., to Middletown, N. Y., 249
miles; branches to Courtland, N.Y., 48 miles; to New Berlin, 22 miles: to
Delhi, 17 miles; to Ellenville, 8 miles; total operated, 344 miles. This
was the New York & Oswego Midland.
Main line was opened July, 1871.
It connects with the N. J. Midland to N. Y. City. Default was made in
1873, and the property placed in the hands of receivers September 18,
1873. The Western Division was sold in foreclosure May 31,1876, and
the main line was sold in foreclosure November 14, 1879. The present
company was organized January 22, 1880, and under the plan of reor¬
ganization the holders of receiver’s certificates took preferred stock, the
first mortgage bondholders took common stock for principal and inter¬
est, and the holders of other old bonds, notes, judgments and claims
against the company were permitted to come in and take new stock at
par for their claims on payment of assessments in cash. The following
statement as to this was published in the Chronicle of Jan. 24:
The following stock may be issued by the new company:
Preferred stock to be issued for receiver’s certificates.
$2,000,000
Common stock for first mortgage bonds and interest
13,000,000
“The following common stock may be issued on payment of 20 per cent
cash within 30 days from January 22, 1880:
For second mortgage bonds (interest to May, 1879)
$4,000,000
For equipment bonds (interest to April, 1879)
3,800,000
For consolidated bonds (interest to May, 1879)
1,400,000
Interest on the foregoing, about
4,000,000
Floating debt and interest to January 1, 1879, about
7,200,000
Western extension bonds endorsement, about
3,500,000
**
The following may be issued on payment of 30 per cent cash within
six months from January 22, 1880 :
For old stock
$6,800,000
For convertible non-mortgage bonds
:
2,707,000
The stock of the company was admitted to the N. Y. Stock Exchange
list in February, 1880, the total of preferred stock being $2,000,000 and
the common stock authorized $48,000,000. See Chronicle, V. 30, p.
170. Operations and earnings for five years past were as follows:
Gross
Passenger Freight (ton)
Net
Years.
Miles.
Mileage.
Earnings.
Mileage.
Earnings.
371
4,759,385
15,065,001
$592,591 Def. $40,473
371
4,052,620
12,957,503
535,845
49,146
344
6,514,676
13,542,809
568,204
39,331*
344
5,579,976
12,701,830
560,020
53,662‘
1878-9.
523,592
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.)
“

•

•

pal,When Due

Payable, and by

Payable

Whom.

Stock8—Last..

Dividend.

....

•

M.
J.
M.
M.
J.

6

5-7
5
5 g.

500 &c.
500 &c.

ioo

58
56
56
60
102
102
102

35,000,000
2,500,000

ioo
1860
1869

Where

$2,000,000

$....

344

427

3

Amount

>

($48,000,000 authorized)

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Miles
Date Size, or
of
Par
of
Road. Bonds Value.

New York Ontario <& Western—Preferred stock.
Common stock

[Vol. XXX.

4, 5,6
2 &c.
•

•

J.

•

•

•

2
6
7
3
3
3
....

&
&
&
&
&
&

London.
do
do
do

Sept. 1, 1895
1904

Sept., 1909
Nov., 1914

Office.

Jan., 1902
Jan., 1903

..........

•

N.
J.
J.
S.
S.
N.

Q.-F.

6
7
7
6
4
8
8
6
3
6
6
6

•

•

Office. •

N.

Y., M. Morgan’s Sons.
do
do

do
do

Company Shops, N. C.
do
do

do
do

Feb.

10,1880May 1, 1880
July 1, 1899
Jan. 2, 1880Mar. 15,1880
Mar. 15.1880

Nov., 1888

....

1*2

•

•

Q.—J
M.
J.
J.
M.
M.
M.

8‘

•

& S.
London, Co.’s
& J. New York and
& S.
do
& N.
do
& J.
do
& J.
London, Co.*s

J. & J.
M. & N.
J. & J.

Philadelphia Office.
do
do
do

do
•

do
do

-

Feb.
Jan.

1. 1885

May 1, 189&
1903

1930

....

•

25,1880

....

M. & N,
M. & S.
M. & S.

Charleston.
do

Sept. 1, 1899
Sept. 1. 1899

Baltimore & Philadel.

April 1, 1870

•

1907

....

M. & N.

•

Q.—J.

Irredeemable.
Annapolis.
Baltimore, 1st Nat. Bk.
July, 1885
do
April, 1900
J. & J.
do
July, 1900
J. & J.
A. & O.

6g.

preferred stock. (5.) Common stock, to receive 1 per cent after the pay¬
ment of 1 per cent on the preferred stock, to be exchanged for the
old common stock.
The 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 the first three years; 5
per
cent thereafter for six years, and 6 per cent thereafter until
maturity.
(2.) The leased lines’ bonds of 1873 are to receive the net profits up
to 7 per cent
(but not less than 2 per cent during the first twoyears) arising from the working of the lines whose securities are held
by trustees. The prior lien bonds are to provide for payment of old
Ohio Div. mortgage, for change of
gauge, and for reorganization ex¬
penses. The company, as reorganized, will have funded debt as above*
and preferred stock about $10,000,000, and common stock $25,000,000,
and all came in except about $2,559,372 of the old bonds and about

$11,000,000 of the stock.

Years.
1876
1877
1878
1879

Earnings, &c., have been

follows :

Gross

as
Net

Miles.

Earnings.

$3,672,365

Earnings.

512
512

512

3,745,207

3,805,305

$717,973

Extraordinary
Payments.
$858,052

764,423

832,261

675,849

707,962

-(V. 28, p. 222, 276, 399, 452, 476, 525, 553, 577; V. 29, p. 40, 196,
213, 406, 537,563, 608, 656; V. 30, p. 42, 143.)
New York Providence & Boston.—Providence, R. I., to Stoningtonr
Conn., 50miles; extension to Groton, Conn., 13 miles; total, 63 miles.
The company owns a majority interest in the Providence & Stonington
Steamship line, which has a capital of $1,400,000. For the fiscal year
euding September 1, 1879, annual report is given iu V. 29, p. 629.
Operations and earnings for five years past were as follows:
Div.
Gross
Passenger
Freight (ton)
INet
Years.
Miles.
Earnings.
Mileage.
Mileage.
Income.
p. c.
62
17,524,648
9,178,512
$829,796 $408,541 10
62
19,570,190
10,128,540
935,268
465,201 10
62
15,378,852
9,222,206
718,726
358,997 10S
62
17,858,442
710,038
10,405,601
398,116 10

'
700.111
318,656 10
Thirteen months, t Including dividends received from Stonington
Steamboat Company, and other receipts.
*

Niagara Bridge & Canandaigua.—From Canandaigua to Suspension
Bridge, N. Y., 98 miles. The road is leased in perpetuity to the New
York Central & Hudson at $60,000 per annum. Has no debt, but
prior
to foreclosure mortgages were $2,170,000.
North Carolma.—Goldsborough to Charlotte, N. C., 223 miles. Tho
New York Pennsylvania <£ Ohio.—The Atlantic & Great Western Rail¬ property was leased September 11, 1871, to the Richmond & Danville
way, extended from Salamanca, N. Y., to Dayton, ()., 387 miles, with Railroad for 30 years at a rental of $260,000 per year. Dividends of 6
branches to Oil City, 34, and to Silver Creek, 1^2 miles;
leased lines— per cent are paid on the stock, of which the State of North Carolina holds
Mahoning 80, Westerman 1^, and Sharon 73* miles; total, 512 miles. $3,000,000, and the dividends thus received by the State are applied to
Consolidation August 19, 1865, of three companies in New York, Penn¬ her bonds issued to the North Carolina Railroad. (Y. 29, p. 96.)
sylvania and Ohio. Reorganized Nov. 10, 1871. Opened through in
Noi'th Pacific Coast.—Sancelito to Moscow Mills, Cal., 74 miles;
June, 1865. Receiver appointed April 1, 1867.
Leased to Erie on branches, 6 miles; total, 80 miles. Stock, $1,074,900; floating debt,
December 8, 1868. Again in receiver’s hands April 1, 1869. Leased to June
30, 1877, $2,017,114; net earnings in 1876-7, $73,758. No later
Erie Jan. 1, 1870. Sold
July 1, 1871, and once more leased to Erie on reports.
May 1, 1874, but lease not earned out. Again in hands of a receiver
North Pennsylvania.—From Philadelphia, Pa., to Bethlehem, Pa., 56
Dec. 9,1874. Sold Jan. 6,1880, and now in course of reorganization
by a

London committee of stock and bond holders. (Sec V. 30,
p. 143.) The
committee consists of Sir George Balfour, Mr. Hugh Fraser
Sandemau,
Mr. H. Wollaston Blake, the Rev. J. Lockington Bates, and Mr. Charles
E. Lewis.
The reorganization scheme provides that the admin¬
istration of the new company, which will be known as the New York

Pennsylvania & Ohio Railroad, shall be placed in the hands of a delega¬
tion or directors in London, who shall have full control of the
expendi¬
ture and policy of the company. Five trustees are to exercise the
voting
power of the new stock until the third mortgage bondholders receive 7
per cent interest in cash during three years.
Three of these trustees are
to be chosen annually by a majority in value of the first
mortgage bond¬
holders, one by the second mortgage bondholders, and the fifth
by the
leased line bondholders.

miles; branches—Jenkintown to Delaware. River, 20miles; Landale toDoylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total, 88 miles..
The Northeast Pennsylvania Railroad and the Stoney Creek Railroad arer
operated under contract. The company has been doing a fair business,,
but paying very moderate dividends, and in May, 1879, was leased for
990 years to the Philadelphia & Reading Railroad on the terms as stated
in V. 28, p. 625, viz., that the lessees should pay in quarterly
payments
(February 1, May 1, August 1 and November 1) $673,344 for each of the
the first and second years; in the third and fourth years each $718,615,
and after that $763,887 per year. This is intended to cover all fixed
charges of the lessors, and pay 6 per cent on their stock for two years,
7 per cent for two years and 8 per cent afterwards. The net revenue of
the company was $573,061 in 1877-8, $562,047 in 1876-7, $786,519 in
1875-6. (V. 28, p. 503, 625.)
North Wisconsin—In progress from Lake St. Croix to Bayfield, Wis ,
165 miles.
In March, 1880, 60 miles were in operation. Stock, $900,V
000.
For each mile built $10,000 in bonds and $15,000 in stock ta be
issued. (See V. 30, p. 248.)
Northeastern (S. C.) —From Charleston, S. C., to Florence, S. C., 1021
miles. This company has earned the interest on its bonds and preferred
stock with a good surplus. In 1878-9 gross earnings were $346,267;
net •earnings, $135,364, against $162,501 in 1877-8.
(See last annual
report, Y. 29, p. 629.) The preferred stock is exchangeable for second

The new securities and stock of the reorganized
company are to be
issued upon the following basis: (I.) New first
mortgage 25-year bonds,
to bear 5 per cent interest for the first 5
years and 7 per cent thereafter,
whatever portion of this that may not be earned to be payable
in
deferred warrants, to be capitalized in bonds of the same
class; pay¬
ment of interest to become absolute not later than
July 1,1886, until
which time the right to foreclose the
mortgage is suspended. These
bonds are to be issued for the conversion of the
existing-first mortgage
bonds, reorganization stock, with 25 per cent bonus ana interest and for
unpaid coupons. The amount of the reorganization stock is very small.
(2.) Second mortgage 30-year bonds, to receive 5 per cent per annum, or
mortgage bonds.
as much of the same as
may be earned within the year after the first
Northern California.—Oakland to Suisun, Cal., 47 miles; extension,
mortgage bonds have received their interest in cash, the right of fore¬
closure to be suspended until Sept. 1,1886. These new bonds are to be Woodland to Willows, 67 miles; total, 114 miles. Completed in 1878
issued in exchange for the old second
mortgage bonds and unpaid and leased in part* to the Central Pacific since January 1,1876, at an
coupons. (3.) Third mortgage 35-year bonds, bearing 5 per cent interest, annual rental of $1,500 per mile of road. In 1878 total revenue from
after the payment of interest on the first and second
mortgages, for the rental, $346,138; surplus over annual charges, $90,553. The stock is
conversion of existing third mortgage bonds. (4.)
Preferred stock, to $2,819,150. R. P. Hammond, President, San Francisco.
receive 1 per cent per annum, if earned within the
year after the third
Northern Central.—From Baltimore, Md., to Sunbury, Pa., 138 miles;

jnortgage bonds have received 5 per cent in cash, to take up the present branches—Relay to Green
Spring, 8 miles; Baltimore to Canton, 5 miles;




C'V;

v
*i.,7r *

Subscrlbers wlll confer *

great favor by givlug

DESCRIPTION.
For

explanation of column headings,
on

first page

of tables.

<fcc., see notes

,

Road. Bonds.

Northern Central— (Continued)—

5781

Consolidated mortgage,

gold, registered

$

Consol, mortgage, gold, s. fund, coup.,
or
2d general mort., ‘‘A,” coupon
do
“ B,” coupon, convertible
Northern Central (Mich.)—1st mortgage
Northern, N. II— Stock
Northern of New Jersey—Stock
let mortgage, extended
Northern Pacific—Tret. stock(8 p. c., not
Common stock...

£

21
21

1188775-69-*t

Ogdensburg <t Lake
!

Champlain—Stock

$600,000 (sinking fund)
Ohio Centrals- 1st mortgage gold (for $3,000,000)..
Incomotbonds (non-cumulative for $3,000,000 ...
Ohio dk Mississippi—Stock, common
Preferred stock (7 p. c. yearly, cumulative)
are s.

f.)

Consolidated mortgage, sterling
2d consolidated sinking fund mortgage
Debenture sinking fund bonds (for $1,000,000)...

SE.) IstM. (for

Bonds

Par

Value.

1878
*

*

^

»

m

205
209

1879
1879
1877

-

$3,000,00p).

393
393
148
393
393
393
228

•

•

•

•

Milos. Mileage.
322 29,829,323

Mileage.

3,864,000
140,000

1,915,000
6,733,800
390,000
150,000

1,692,000

1,000

erty April, 1877.
and in January,

ing

Years.

Railroad (leased), Brainord,

J. &
A. &
M. &
J. <fc
J. &

M.
A.
J,
J.
A.
M.
M.
S.

.

Jan.

•

•

•

•

•

Jan. 8, 1880
March 1, 1897

July 10,1876
Boston, Offioe.
J.
Apr. 1, 1878
do
O.
Mar.,.1890
do
S.
1897
do
J.
Jan., 1920
J. N.Y. Metropolitan N.Bk

•

•

Trust Co.
Trust Co.

•

•

New
do
do

& S.
& O.

J.
J.
O.
N.
N.
J.

&
&
&
&
&
&

*

*

York, Office.
do
do
London.

New York,
do
do
-

Office.
do
do

Boston, Offioe.
do
do

M. & S.

Mar.' i',' 1875
April.1, 1882
Jan.

1, 1898

Jan. 1, 1898

April, 19111
May 1, 1883
Nov. 1, 1905
Jan. 1. 1880
1881
Oct. 1,1880
March 1,1894

do

Various
A. & O.

1, 1920

The earnings of the road have decreased of late yea* A
executive committee issued a circular propos¬

1880, the

adjustment. See V. 30, p.
past were as follows:
Freight (ton)
Mi’cage.

122

Mileage.
24,411,250
20,141,083
21,474,6*99
24,534,667

4,234,762

122
122

122

4,58.5,143
3,48.8,220

3,369,125

118,144. Operations
Net
Gross

Earnings. Earnings.
$658,883 $183,358
568,293
522,938
542,070
479,276

169,421
165,429
144,326
90,407

16, 631; V. 30, p. 43, 144.)
projected is 200 miles—Coming, Cfc, to
completed is 70 miles—Corning to Newark, O.
above—$3,000,000 of each sort. The stock
is $4,000,000—par $100. Dan. P. Eels, president.
Ohio dc Mississippi.—Cincinnati, O., to East St. Louis, Ill.,340 miles;
Louisville branch, from North Vernon to Jeffersonville, Iud.,opened in
1869, 53 miles; total Ohio & Mississippi line, 393 miles; the Springlield
Division, Beardstowu to Shawneetown, Ill., 222 miles: total operated,
615 miles. The Eastern and Western divisions wore sold in foreclosure
and the present Ohio & Mississippi Company consolidated November 21,
1867. On November 17,1876, the company was placed in the hands of
receivers, and afterwards Mr. John King. Jr., of the Baltiraare <Sc 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 neeessnry 6) get any complete idea of the succes¬
sive steps. There are also $97,000 of old first mortgage 7s, Western
Division, yot out. Suit is also pending to foreclose Springfield Division.
Operations and earnings for five years past were as follows :
Gross
Net

Minn, to Sauk

miles; Pacific Division, 137 miles; total, 646 miles.
This company was chartered by act of Congress July 2,1864, to build
from Lake Superior to Puget Smmd, 1,800 miles, with branch to Port¬
land, Oregon, 200 miles. The land grant was 20 sections per mile in
States and 40 sections in Territories, estimated to amount to 47,000,000
acres.
The company defaulted January, 1874, and the road was fore¬
closed August 12,1878, and reorganized by. the. bondholders’ committee
Sept. 29,1875. To the bondholders new preferred stock was
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.
bonds were placed on the New York Stock Exchange in July, 1879
(See statement, V. 29, p. 121). The last annual report, to June
was published in V. 29, p. 380, to which reference is made for full
of operations for that date, including a land department. Operations
and earnings for four years past were as follows:
Rapid, Minn., 60

J. & J. New England
M. & S. Boston, N. E.

526; V. 29, p.

Ohio Central.—The, road as
Toledo, O. The section
The bonds authorized are as

Gross earnings

branches: Western

miles:

.

*

Passenger

—(V. 28, p. 277,

in 1878 were $234,719; in 1877, $238,488.
Northern Pacific.—From Duluth, Minn., to Bismark, Dakota Ter., 449

then due.

-

for live years

1878-9.

July, 1888

B’k.

City, Hudson Co.

•

•

Miles.

1874-5
1875-6.
1876-7.

Earnings. Earnings, p. ct.

•

•

•

.

•

1903

Deo. l> 1879
In 1878

Boston, Office.

& J J.
•

certain terms of

and earnings

258,540,557 $4,926,248 $1,564,124 ....
322 43,401,086 253,552,485 4,369,926 1,127,600
3
322 27,726,768 277,732,734 4,070,388 1,324,463 ....
322 24,122,837 280,236,742 3,723,457 1,118,960 ....
322
404,192,761 4,107,948 1,246,006 ....
—(V. 28, p. 220; V. 30, p. 220.)
Northern Central (Michigan).—Jonesville, Mich., to Lansing. Mich., 61
miles. Owned by the Lake Shore & Michigan Southern Railway Com¬
pany. Stock, $610,000. S. V. Irvin, President, Albion, Mich.
Northern, N. JET.—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 baa done a steady, but slightly decreasing, business
during the past four years. The last annual report was published in the
Chronicle, V. 28, p. 552. The net earnings for the fiscal year ending
March 31,1879, were $107,372, against $117,140 in 1877-8; $123,150
in 1876-7 ; $120,810 in 1875-6. Prior to that date, earnings were consid¬
erably larger. ((V. 28, p. 552.)
Northern of New Jersey.—From Bergen, N. J., to SparkhilL N. Y., 21
miles. The company operates an extension to Nyack, called the Nyack
«fc Northern Railroad. This road was opened Oct. 1,1859; it was leased
to the Erie Railway April, 1869, at a rental of 35 per cent of its gross
earnings, and is now operated by the New York Lake Erie & Western.
The present bonds were extended in 1878 in place of the 7 per cents
;

1874-56

112,000

500 &c.

& Pottsvillo Railroad and branch,
.Railroad, 77 miles; Chemung Railroad,
Railroad, 47 miles; total, 323
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¬
road interest, and Mr. Thos. A. Scott is president. The last annual report
was published in V. 30, p. 220, showing the application of income for the
year 1879, the earnings, &c. The consolidated mortgage (gold) is for
$10,000,000 to retire all prior bonds as they mature. Under the general
mortgage of 1876 $1,000,000 more may be issued as Series C. Operations
and earnings for five years past were as follows:
Passenger Freight (ton)
Gross
Net Div’d
Years.

6,545,850

100

.V.

J.

3
7
7
6 g.
7
7
7
3
7
6
7

174,000

A 200

leased and operated—Shamokin Valley
31 miles; Elmira & Williamsport
17 miles; Elmira Jefferson & Canandaigua
miles. This was a consolidation of

•

4,030,000

1,000
3,000
1,000

1871
1860
1874

187-

20,000,000

1,000
1,000

1871
1873
1874

269

-v

Bonds..
Bonds

(1)

100

>:

6
6
5
6
2
4
8
6
o g.
7

(1)

100

1868

•

392,000
538,000

1,000
1,000

1862
1868

J. & D.

m.mmm

3,077,000
2,000,000

1,000

1st Nat. Bk. July, 1900
July 1, 1904
Baltimore.
Jan. 1, 1926
J. & J Baltimore, 1st Nat*. Bk.
Jan. 1. 1926
doj
do
J. & J.

6

400,000

1,000

Dividend.

A. & O. Baltimore,
London
J. & J.

400,000

ioo

Payable

(?)

43,80(1,000
29,952,600
2,000,000
2,000,000
2,604,400

Stocks—Last

Whom.

21*

1,525,000
3,068,400
1,000,000

pal,When Due.

Payable, and by

6 g6 g.
5
6
7

1.000,000

100
100

Where

When

Rate per
Cent.

$205,000
4,473,000
3,000,000

T

1877
1880
1880

•

m

t

M

100
100

118
70
•

Outstanding

•

'

Amount

:

100
.

1870

Sinking fund bonds
Mortgage bonds for

Spring. Div. (Sp.&Hl.
Cld Colony—Stock

m

.

66
122
122

div

Income and funded debt bonds
1st consolidated mort. ($3,478,000

m

,

Size, or

-

•

560
.

Bo
immediate notice of any error discovered In these Tables. Princi¬
INTEREST OR DIVIDENDS.

1868
$1,000
’74-’75
1,000
1876
1,000
1876
1,000

138
138
138
138
61

82*3

cum’tive).
•; Mortgage and land grant bonds, Missouri Div.

Mortgage bonds, Pend d’Oreille
Norwich <t iforcester—Stock
New bonds, coupon

Date
of

Miles
of

43

StOOBS AN© hBONDS

RAILROAD

March, 1880.]

v

,

issued at

The stock and
30,1879,
details

Earnings.

Miles.

Years.

$3,204,480
3,382,032
2,090,1&7

623

1874-5
1875-6
1876-7*
1878
1879

619
615
615
615

3,136,836
-

3,502,239

Earnings.
$863,510
.842^06
535,107^
864*548

1,058,975

Eight months.
—(V. §8, p. 120,146,
*

200, 253, 275, 328, 402, 42%526, .554, 580, 649
278, 330, 408, 434, 483, 631, 680; V. 30, p. 43,
67, 92, 144, 2 1 9, 249.)
Old Oolony (Mass.)—From Boston to Provincetcrwn, Mass., 120 miles,
and lilies to Kingston, Plymouth and Somerset Junction, Mass., and to
Newport, R. I.: total. 219 miles; numerous branches. 52 miles in alt; 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 <fc 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
increased by the issue of $300,000 of bonds, bearing six per cent inter¬

V. 29, p.

67, 226, 241,

been reduced
* with“We boats
* the have
of the Old Colony Steamboat Company. The rates have been much
reduced by competition, but the general remits of the business are very
satisfactory. While the steamboat company in which this corporation
Passenger
Gross
Net
large interest has paid no dividends* its profits have been sufficient
Miles.
Mileage.
Earnings. Earnings.
$56,500, purchase an additional boat—
555
2,943,748
$739,745 $290,026 reduce its bonded debt by reserve atosoffldent surplus for its Winter
cost
$47,500, and
585
4,351,622
965,823
392,698 expenses. of is in condition to resume dividends in January. The policy
It
646
4,019,832
1,193,381
583,700 of the directors to decline all alliances, and
720
455,798 pendently, has proved successful and will he conduct its business inde¬
1,167,261
continued. At a special
months only. 110 months only.
meeting of the stockholders held on January 31,1879, the lease of the
—(V. 28, p. 87> 146, 200, 554; V. 29, p. 67, 121, 293, 330, 379, 564;
C. F. & N. B. RR. as negotiated by the directors was approved and
V. 30,
67, 144.)
confirmed. By this lease the length of the lines operated by the company
Norwich <t Worcester.—Norwich, Conn., to Worcester. Mass., 59 miles;
increased to 453-96 miles, the greatest number of miles operated by
branch: Norwich to Allyn’s Point, 7 miles; total, 66 niles. In 1869 the
corporation in the Commonwealth. It is too early to determine
road
leased to the Boston Hartford & Erie for 100 years, the lessees exactly the benefits resulting from this lease. In the opinion of the
to
all liabilities and 10 per cent on th<? capital stock. There has directors its benefits are greater than were anticipated. The terms of the
discussion os to reducing the rental, and the present lessee lease
fair, and were understood to be advantageous to both parties.
company has the option to terminate the lease, and now operates under The leased line was doing a competing business, which could be con¬
temporary agreement (see V. 28, p. 200). Earnings, &c., for four years ducted more e<$onomieally and with advantage to the public by a union,
past have been as Allows:
,
of interests. The increase in business dates from the inception of the
Net
Gross
Total
Interest & lease. There has been a regular monthly increase—in some months quite
Years.
Earnings.
Earnings.
Revenue.
Dividends. large.” Operations and earnings for five years past were as followsDiv.
Passenger Freight (ton)
Gross
Net
$728,081
$311,965
$320,580
11

done

B.

p.

has

any

was

pay
been some

—(V. 27, p. 537;

by the

has a
to
at a

Years.

*

sold at a premium. The bills,payablo have
payment of notes amounting to $203,640.” *
a very large business with New York in connection

est, which were

are

716,635
666,883

V. 28, p. 200.)

$281,376
315,107
269,779

416,243
312,095

347,129
319,533

Champlain.—Rouse’s Point, N. Y., to Ogdensburg,
total, 122 miles. The road was
from March, 1870,
and this company resumed possession of its prop¬

Ogdensburg (6 Lake

Years.

-8781
N. Y., 118 miles; branches, 4 miles;
leased fro. ^ .he Vermont Central for twenty years
-(V,

but the lessee failed,




‘

Miles.
265
269
290
301

29, p. 537; Y.

“

Mileage.

61,295,520
59,025,834
50,628,616
58,845,895

30, p.iltf.)

Mileage.

Earnings. Earnings, p. c,

18,371,231 $2,223,892 $.«Kbl48
17,896,779 2,122,518 645,990
21,387,713 2,174,8S4 720,711
18,446,307 2,077,616 703,278

2,82^487 }«799,15?

7
6

0
6

IfH

RAILROAD

44

Subscribers will confer a great favor by

BONDS.

STOCKS AND

[Vol. - xix.

siting immediate notice of any error discovered In these Tables.

a*-

DESCRIPTION.
For explanation

of column headings, &c., see notes

on

first page of tables.

Miles Date Size, or
of
Par
of
Road. Bonds Value.

INTEREST OR DIVIDENDS.
Amount

Outstanding

Rate per When Where
Cent.
Payable

[Bonds—Princi
pal,When !Due.

Payable, and by Stocks—Last
Whom.

Dividend.

-

Old Colony—(Continued)—
Bonds
Bonds
Bonds
Ontario Southern—1st mortgage

_

_

33
200

Oregon <& CaH/omior—1st mortgage

.

-

•

•

®

®

©

....

1870

28 ifl

1865
1866

1.86
186
62

50
58&64 500 Sec.
1876
1,000
1877
1,000
1877
1,000

47
47
15
15

....

1867

1st mortgage
Gen. M., Ph. to Pitts., coup., J. & J.; reg., A. & O.
State lien (pay’ble in annual inst’lm’ts of $460,000)
Consol. M., coup. J. & D., Sc reg. Q.—M. is. f. 1 p. c.)
Navy Yard bonds, reg
Car Trust bonds (sinking fund 10 per cent)

100

50

355

1,000

•••

50
50

Pennsylvania Co.—Common stock
Preferred stock

Judgment bonds (held by Pennsylvania HR.)
Reg. bonds, secured by P. Ft.W.& C. special stock

1877
1877

1,000

1,000

o

Frankfort O. M.

.

.

.

Men. 1, 1906

M. Sc N. N.Y., Farmers’ L.&T.Co.
F. & A.
do
do
F. Sc A. N. Y., Del., L. Sc W. RR.
M. Sc N.
do
do
M. Sc S.
do
do
F. Sc A. N.Y., Treasurer’s Office.
do
do
April
New York, Office.
London.

q.—j.

J. & J.
M. Sc N.
J. Sc J.

6
6
5
6
6

June 1,1895

Sept. 1, 1896
Aug. 1. 1897
Nov. 30,1905
April 1, 1890

July 15,1891

.

....

A. & O.

2*2

1,000,000
3,000,000
3,000,000
8,000,000
7,000,000
3,200,000

....

do
do

....

4*2

28,901,540

Boston, Office.

A. SC O.

7 g.

4,091,675

1873
1875
1877

J. Sc D.
M. Sc 8.
F. Sc A.

....

4

19,999,760

....!
•

7
7

4,970,000

1,000
1,000

1870

7
7
8

124,000
338,000
216,000
1,200,000
993,000
250,000
7,000,000
3,877,808
0)
*
630,000
68,870,200

£200

1,669

4^

1,320,400

....

6
6
6
7
7 g.
7
7
7
7

350,000
200,000

1,000
1,000

■

35
35

.

300,000

Y

(£1,000,000)

Pennsylvania—Stock

$500,000
1,100,000
2,000,000
994,300
10,950,000
4,395,000

♦

w

.

-

Panama—Stock
General mortgage, sterling,
Passaic & Delaware—StocK
Paterson <£• Hudson—Stock

$....

48

Oregon Central—1st mortgage

2d mortgage
Os tvego <£ Rome—1st mortgage guaranteed
Income mortgage bonds
Oswego <& Syracuse—Stock, 9 per cent guar
Mortgage bonds
Consol, mortgage (guar. D. L. & W.)
Paducah & Elisabethtown— 1st mortgage
2d mortgage, income
Paincsville <6 Youngstown—1st mortgage
2d mortgage

1875
1876
1877

May, 1915
Feb., 1891
Feb., 1880
1880 & 1885
1907
Feb. 1, 1897
Feb. 1, 1897
Nov. 1, 1902
Feb.l, 1880

1884, ’89 &’97

New York.

Jan., 1880.

Philadelphia, Office.

Nov. 29,1879
Jan., 1880
1910

do

do

Q.—J. Philadelphia Sc Ixmdon.

A. Sc O.

Philadelphia.

Annually.

Q.-M. Philadelphian London. June 15,1905
J. Sc J.
1881
Philadelphia, Office.

6g.
A. Sc 0.

3
6

6

Pittsburgh, Co.’s Office.
Philadelphia.

,

do

Q.—J.

Oot., 1873
Demand.

July 5, 1907
»

Ontario Southern.—Sodas Point to Stanley, 34 miles.
Point Sc Southern Railroad was sold October 13,1875, and

company

The original cost was $1,588,799
in operations of $2,117. The stock is

organized as successors.

In 1878 there was a deficit

$558,300.

The Sodus
the present

Wm. Alexander, President, New York City.

sylvania Railroad was $65,481,682. A scheme to buy up the company’s
guaranteed securities with $100,000 per month from earnings, ana issue
a 4 per cent scrip to stockholders for the dash so used, was adopted
by
stockholders on March 26,1878, but not carried out till November, 1878,
when it was started at $50,000 per month.
The statement of the condition of the Trust Fund, created under the

Oregon <6 California.—Line of road—Portland, Or., to Roseburg, 199 resolution of the stockholders in 1878, shows that the entire amount
This company succeeded to the Oregon Sc Central Railroad
paid by the company into the Trust up to the end of 1879 is $700,000.
organized under act of Congress July 25,1866, and took that company’ There have been purchased for the fund securities of the par value of
land grant. The company has been in default since 1873, and com¬ $773,100, which yield an interest of 7H per cent per annum upon the in¬
promised with its bondholders without foreclosure. In 1878 net earnings vestment. * ‘ It having come to the knowledge of your Board that offers had
were $237,665.
(V. 27, p. 358, 437.)
been made by other parties to the City of Philadelphia for the purchase of
the 59,149 shares of your stock held by the Commissioners of the Sink¬
Oregon Central— Portland to 8t. Joseph, Oregon, 49 miles. Opened
November 3, 1872. The Oregon Sc California Railroad have obtained ing Fund, it was deemed wise for the protection of your interests, and
to keep this stock out of the hands of parties whose interests might he
control of this line and propose to extend it to South Corvallis, 50 miles
In 1878 there was a net loss on operations. T. R. Cornelius, President, unfriendly thereto and to those of Philadelphia, to purchase the same at
Portland, Oregon.
gar. been paid for, is now held in upon as an asset of your company.”
was
ig
trust
Oswego c6 Borne.—Richland, N. Y., to Oswego, N. Y., 29 miles. Road The claims against the county of Allegheny, growing out of the riots
opened January 1,1866. It is leased to the Rome Watertown Sc Ogdens of 1877, have been compromised, and the sum of $1,600,000 has been
burg Railroad at 8 per cent on its stock and 7 per cent on guaranteed received in full settlement of the losses incurred by this company and
miles.

The transaction

bonds.

Oswego dk Syracuse—Oswego, N. Y., to Syracuse, N. Y., 35 miles

closed

that basis, and the stock, hav-

the lines controlled by it in the destruction of property at Pittsburgh
The claims of individual shippers and other corporations against the-

aefyusted upon the same basis as that arrived
The general account of the treasurer is appended.
Many of the stocks and bonds owned by the company in consequence of
the general revival of business have largely appreciated in market
value. But, notwithstanding this, the Board nave charged against the
Paducah <& Elisabethtoicn.—Elizabethtown to Paducah, Ky., 186 miles
Formerly Elizabethtown Sc Paducah, and again the Louisville Paducah profit and loss account a further reduction in the estimated value of
doubtful securities, and, the report says, it is believed that they are now
Sc Southwestern. The road and a branch to Louisville were foreclosed
worth, at a fair appraisement, the full amount at which
August 24,1876. The Cecilian branch to Louisville, 45 miles, was sold upon the books. It will be remembered that out of they are charged
these assets the
to the Louisville Sc Nashville Railroad. The common stock is amount required for construction purposes in 1879 was provided, and a
again
$1,426,500 and preferred $1,426,500.
Last annual report in the reference to the statements attached to the treasurer’s account will show
Chronicle, Y. 28, p. 623. Net earnings in 1879, $45,087. (V. 28, p. that
the bonds and stocks owned by the company, including those
402, 623.)
Pleased in 1868 to the Delaware Lackawanna Sc Western Railroad Co
for 9 per cent per year on stock and interest on bonds. In 1877-78 net
earnings were $74,852, and payments by the lessees, $151,176, leaving
them a deficit of $76,323.

county are being generally
at with the company.

.

Painsville <£ Youngstown.—Fairport, Ohio, to Youngstown, Ohio, 62
miles. The company made default in its interest, and a receiver took

acquired during the year, represent a par value December 31,1879, of
$100,143,984, at a cost of $65,481,652, as compared with a value Dec..
31,1878, of $99,751,338 and a cost of $66,670,510.

possession February 14, 1877. Road was sold in foreclosure June 2,
GENERAL INCOME ACCOUNT FOB THE TEARS 1879 AND 1878.
1879, for $192,000. The nominal stock was $2,500,000. Terms of reor¬
Main Line and Branches—Pittsburg to Philadelphia.
ganization not yet known. Paul Wick, President, Youngstown, Ohio.
1879.
Panama— Aspinwall to Panama, 48 miles. Opened through January
1878
$21,743,628 $20,317,i39;
28,1855. This road had a practical monopoly of the California business Earnings
till the opening of the Pacific Railroads in 1869. Another serious blow Expenses
11,751,620
10,921,103
to its exclusive business was the establishment of the British steamship
Net earnings from operating main line and
line from England to the West Coast of South America, arodnd Cape
branches
Horn. The company, however, has paid large dividends. Gross earn¬
$9,992,007
$9,396,036
ings in 1878, $2,114,859; net, $1,079,626. Sinking fund, $731,945. Add interest from investments, equipment,
Sec
2,513,198
2,120,867
—(V. 28, p. 376, 402, 580.)
Passaic eC Delaware.—Summit, N. J., to Bemardsville, N. J., 15 miles.
The New Jersey West Line Railroad was sold in foreclosure and this

company

organized October, 1878, by parties identified with the Morris

& Essex lessees (Delaware Lackawanna Sc Western), by whom it is

operated. Nominal stock, $1,000,000. Samuel Sloan, President, New

York City.
Paterson <6 Hudson.—Jersey City, N. J., to Paterson, N. J., 15 milesThe road was opened in 1834, and leased in perpetuity September 9>

1852, to the New York Sc E#e, at a rental of $53,400 per year.
Rogers, President, New York City.

J. 6-

Total
Deduct interest
and leases
Net

on

$12,505,205

$11,516,904

5,022,725

bonded debt, Sec., rentals

5,192,439-

income, Pennsylvania RR. Division
$7,482,480
$6,324,464
Jersey Railroad <& Canal Co., including Belvidere Delaware
Railroad and Flemington Branch.

United New

1879.

Earnings
Expenses

•

1878.

$9,784,843
6,500,861

$8,398,534
5,502,941

$3,283,981

$2,895,592

211,239

296,520

is 3,535. In 1878 the net income over rentals, interest, &c., was
Total net earnings
$3,495,221
$1,251,516 and advances to railroads charged off $473,044, leaving Deduct Payments—Payments on
$778,471 profit. An abstract of the company’s report for 1878 was
account of dividend, interest,&c.$4,396,073
published in the Chronicle, Yol. 29, p. 118, giving a full exhibit of the Payments on* account of interest
transactions in that year, the balance sheet, Sec. The registered bonds
on equipment used by Belvidere
are secured by deposit of $4,000,000 of Pittsburg Fort Wayne & Chicago
Delaware Railroad Go
39,037
special stock. (V. 28, p. 580; V. 29, p. 118.)
Total payments
$4,435,11#
Pennsylvania.—The lines owned by this company are from Philadelphia to Columbia, Pa., 80 miles; Harrisburg to Pittsburg, Pa., 249 miles 5 Net loss in
operating United Railroad Sc
branches, 101 miles; total owned, 430 miles. Leased as a part of the
Canal Company’s property
$939,889
main line, Harrisburg Sc Lancaster Railroad, 54 miles; other leased
roads and branches, 1,232 miles; total owned and leased, 1,715 miles.
Philadelphia <& Erie Railroad.
1879.
The operations of the Pennsylvania Railroad cover so large a field that
a reference to the annual reports is necessary to give any adequate idea
Earnings
$3,091,807
of its working and condition from year to year. An abstract of the Expenses
2,130,258
latest report issued, that for 1879, was published in the Chronicle (V.
30, p. 244), showing surplus net income of $1,797,191 after paying all Net earnings from operating Philadelphia Sc
Erie Railroad
charges and 4*2 per cent dividend. In 1879, on all lines eqst of Pittsburg
$961,549
and Erie, the gross earnings were $2,983,544 over 1878 ftml net earnings Deduct interest charged for use of equip¬
ment, &c. &L.
163,049
$624,978 over 1878. All the lines west of Pittsburg showed a surplus
overall liabilities of $1,526,617, being a gain of $1,082,836 over 1878.
The total cost of stocks and bonds of other companies owned by Penn¬ Net earnings applicable t6 pay interest
‘ $798,500

$3,192,112

Pennsylvania Company.—The Pennsylvania Company is a corporation
Pennsylvania Legislature, April 7,1870, distinct from
the Pennsylvania Railroad, and operates an the leased lines west of
Pittsburg. The stock is owned by the Pennsylvania Railroad. The
chartered by the

whole number of miles operated or in any way controlled by this com¬

:

Net earnings from operating
Add interest received in cash from invest¬
ments

pany




•

$4,290,126
38,761
$4,328,887

$1,136,775
1878.

$2,921,060
2,044,948$876,111

191,604

$684,507

rW»-Sv£■•S’"'.'"'

.>'• • £

*

\

T

Sf/
'-IS*?*-

RAILROAD STOCKS

March, 1880. J
Subscriber* will confer

a

explanation of column headings, &c.,
on first page of tables.

see

notes

Miles Date Size, or
of
of
Par
Road. Bonds Value.

7781
Pennsylvania <6 New York—1st mort., guar
1st mortgage, guaranteed
Peoria & Bureau Valley—Stock
1st mortgage bonds

105
105

1866
1866

42
47

Peoria Decatur <& Evansville—Stock
1st mortgage, gold, coupon
Income bonds
Peona Pekin <6 Jacksonville— 1st mortgage
2d mortgage
Perkiomen—1st mortgage
*
Consol, mort., gold, guar. P. & R., (sink, fund)

1853

1,000
100

....

....

83
83
38
38
11

....

1880
1880
1864
1870
1867
1873

....

1,000
1,000

500 Ac.

1,000

100

1,000

100
500 &c.
100

....

1877

....

82
82
82
36
36
10
287

«...

....

.

.

.

.

59781
Preferred stock
1st mort., SunburyA E. (extended 20 years in ’77).
1st mortgage ($3,000,000 are sterling)
2d mortgage..
2d mort., gold (for $20,000,000), guar by Pa. R...

Philadelphia Germantown dk Norristown—Stock.

40
287

287
34

....

Preferred stock

....

50

779

paid Philadelphia A Erie

1878.

$684,507
1879.

SUMMARY.

Net income Pennsylvania RR. and branches, as above
Net loss New Jersey Division, as above

Balance after deducting loss in operating New Jersey Div..
Deduct advances made to companies east of Pitts¬

burg, Pa

Payments to trust fund
Payments to consolidated mortgage sinking fund

$7,482,480
939,889

$6,542,591

$802,780
600,000

A
A
A
A

Payable, and by
Whom.

D. Pliila.. B*k N.
D.
do
A. N.Y.,Chlc.,R.
A.
do

Stocks—Last
Dividend.

America. June 1
do

I. A Pao.
do

,

J. A J. N. Y.» Met. Nat. Bank.
do
do
J. A J. N. Y., Imp. A Trad. B’k.
A. A O.
do
do
A. A O.
Phila., 2278. 4th st.
J. A D.
do
do

May.

Nashua, Treasurer.1
A. A O. Boston, N. E. Trust Co.

6
3
8

J.
J.

8
7
7
6

-

A J.
A J.

-

-

189b

June, 1906
Feb., 1880

Aug. 1, 189$

J. A J.
J. A J.
,T. A J.

2,400,000

4

7
0 A 6 g.
7
6 g.
3

700.000

J.
A.
A.
J.
J.

Jan.
Jan.

1, i920>
1, 1920

July 1, 1894
Oot. 1,

1900

Apr. 1, 1887

Juno 1, 1913

May, 1878

Oct.

1, 1897
Jan., 1872

N.Y., Lancaster, B. ACo. ran., 1879-*98
do

* *

do

Philadelphia, Office.
do
do

do
do

6,053,700
A

J.

A
A
A
A

O.
do
0. Phila., Pa. Life
J.
do
J. Philadelphia A

1902

Jan., 1879
Jan., 1900
Oot., 1891

Philadelphia, Pa. RR.
do

Oct.

1, 1897

A T. Co.

Mar.

do

31,1881

July 1, 1888

London.
Q.—M. Phila., Treasurer of Co.

July, 1920
1880

Mar. 3.

6

182,400

1879.

J.
J.
F.
F.

6 g.
6
7
7
6
6 g3

400,000
300,000

jeioo

$798,500

rental

Bonds—Prinei-

r.

800.000

1,000
1,000

....

1843-9
1857
1836

,

7
7
4
8

32,726.375
1,551,800
1,510,500
79,000

50

....

779
779

Mortgage loans inconvertible
Loan mortgage, convertible
do
do
sterling

as

....

Rate per When Where
Cent.
Payable

1,500,000
1,200,000
300,0001
3,500,000
1,287,000
858,000
1,000,000
1,000,000
799,600
1,125,000
384,975
159,500
1,324,200
500,000
300,000

5,000,000
3,000,000
8,680,000
2.231,900
1,200,000

50
50

....

•

Outstanding

976,000

1,000

....

•

•

•

1,000
1,000
1,000

....

....

by Phila. A Read
Philadelphia <& Beading—Stock, common

amount

....

100 Ac.
100 Ac.
100 Ac.
50
50

1857
1861
1868
1869

287

guar,

Railroad Co.

....

1859
1869
1866
....

...

Philadelphia Newtown <6 New York—Stock

Deduct

45

INTERE8T OR DIVIDENDS.

Amount

$1,500,000

$1,000

....

181

Peterborough (N.H.)—Stock
Bonds (not mort.), redeemable after 1882
Petersburg—Stock
1st mort. bonds (payable $25,000 yearly)
2d mortgage
r
Philadelphia <£ Balt. Central—1st mort. (Pa)
2d mortgage (Pa.)
1st mortgage (Md.)
Philadelphia <6 Erie—Stock, common

Bonds,

BONDS.

great flavor by giving Immediate notlee of any error discovered In these Tables*

DE8CRIPTION.
For

AND

Q.-j.

2^

3ia
6
6

5 g*

Q.-J.

J. A J.
J. A J.
J. A J.

Philadelphia, Office.
do
do
do
do
do
do
London.

Jan. 25,1876

July 25,1876
July, 1880
July, 1886
July, 1880

Operations and earnings for five years past, on main line and branch

were as

follows:

Passenger

Years.

1875
1876.

Miles.
904
963

Mileage.
160,421,998
288,312,089

es.

Freight (ton)

Net
Gross
Mileage.
Earnings. Earnings.
1,479,414,466 $20,493,638 $8,699,58&

1,629,742,021
20,788,076 8,335,38T
143,153,521 1,494,798,198 18,983,456 8,232,31T
142,036,106 1,732,003,131
20,317,140 9,396,03T
155,784,178 2,136,708,000 21,743,628 9,992,007
-(V. 28, p. 97, 224, 249. 328, 428, 526, 649; V. 29, p. 90,146,162,197
220, 253,330, 435, 564, 602, 080; V. 30, p. 07, 117, 222, 244, 249.)
.y.

1,055
1,055
1,092

243,460— 1,646,240
Pennsylvania <& New York (Canal and Bailway).—Wilkesbarre, Pa., to
Showing balance to credit of income account after deduct¬
New York State Line, 104 miles. Branches to mines, 23 miles. Operated
ing therefrom all payments made during 1879 for which
in connection with the Lehigh Valley Railroad. Common stock, $1,061,the company was responsible, and that should be charged
700, andpreferredstock, $4,000,000. Net earnings in 1878-9,$i>99,791.
against income account
$4,896,350 Robert H. Sayre, President, Bethlehem Pa. (V. 30,
p. 220.)
Out of which were paid dividends of 4^ per cent
3,099,159
Peoria <£• Bureau Valley.—Bureau Junction to Peoria, Ill., 47 miles.
The road was leased in perpetuity April 14, 1854, to the Chicago & Rock
Leaving amount to be transferred to credit of profit and loss
account for 1879
$1,797,191 Island Railroad at a rental of $125,000 per annum. Officers same aa
Rock Island.
Add amount to credit of profit and loss, Dec. 31,1878
* 4,057,815
.

$5,855,007

Add amount realized from old accounts.

122,840

Less amount of

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
Railroad Co., under trust created Oct. 9,1878... 100,000—
Balance

From which balance there has been deducted reduction in

value of

securities, etc

$5,977,847

200,000

658; V. 30,

p. 92, 222.)
Peoria Pekin <6 Jacksonville.—Peoria, Ill., to Jacksonville, Ill., 83 mfleir.
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 A Pacific. Gross

$5,777,847 earnings in 1877-78
1,596,773

Balance to credit of profit and loss Dec. 31,1879

Peoria Decatur <& Evansville.—This road is a consolidation of tho
Pekin Lincoln A Decatur Railroad (formerly leased to the Wabash) and
the Decatur Mattoon A Southern and the Grayvlllc & Mattoon, from
Peoria to Parkersburg, Ill., a distance of 181 miles. The old mortgage
on the Pekin Lincoln A Decatur road was $16,000 per mile, but under
the new consolidation has been reduced to $12,000 per mile. (V. 29. p.

$4,181,073

were

$227,501; net, $29,194.

p. 68, 226, 302, 539.)

(V. 28, p. 554; V. 29,

Perkiomen.—Perkiomen Junction, Pa., to Emans Junction, 39 miles-

The road

was

leased for nineteen

years

from August 1,1868, to Phila¬

delphia A Reading Railroad, and bonds guaranteed by tho lessees; but
LINES WEST OF PITTSBURG.
the property was surrendered and all control given up in May, 1879.
The following statement gives the result of the lines owned or con¬ One-naif the interest on the consolidated mortgage has been paid for
trolled by the company west of Pittsburg and operated by the Pennsyl¬ three years in Philadelphia A Reading scrip, according to the Philadel¬
vania Company:
phia A Reading compromise. (V. 30, p. 64.)
1879.
1878
Peterborough.—Wilton to Greenfield, N. H., 11 miles. Completed Jan.
The total earnings of the Pennsylvania Co. on
1,1874. and leased by Nashua A Lowell Railroad for 20 vears from
lines operated by it, and through organiza¬
1873 at 6 per cent on cost of the road. Iu 1879 lessees withneld rental
tions worked under its control, were
$25,742,296 $23,790,228 and dividend was not paid. James Scott, President, Peterborough, N.H..
Expenses for the same period were
15,184,805
15,305,533
Petersburg.—Petersburg, Va., to Weldon, N. C., 84 miles. In May, 1877,
Leaving net earnings
$10,436,762
$8,605,423 a receiver was appointed and foreclosure proceedings are pending. Id
1877-8 net earnings were $26,518.
From this deduct:
(V. 30, p. 249.)
Rentals, interest, dividends and liabilities of
Philadelphia <k Baltimore Central.—Westchester Junction to Octoraro,
all kinds chargeable thereto, including the
Md., 46 miles; leased Chester Creek Railroad, 7 miles, and Columbia A
net earnings of the Columbus Chicago A
I*. Deposit Railroad, 4 miles; total operated, 57 miles.
Since June
Indiana Central Railway, paid over to the
23,1870, the road in Pennsylvania has been in possession of the trustee**
receiver under order of the court, and other
for the bondholders. No foreclosure has taken place. The common stock
liabilities of the Pennsylvania Co., iucludis $220,606 and preferred $242,950. Net earnings in 1877-8, $86,849 ;
f
in 1876-7, $90,195 f in 1875-6, $124,701.
mg $402,616 interest on the bonds held by
the Pennsylvania Railroad Co
8,612,674
7,621,234
Philadelphia <& Erie.—Sunbury to Erie, 287 miles. Formerly Sunbury A Erie Railroad. It was leased to Pennsylvania Railroad ror 999
Net profit on all lines west of Pittsburg
$1,824,088
$984,188
years from January 1, 1862, the lessees to pay 30 per cent of gross
receipts as rental, but modified January 1, 1870, so that actual net
SUMMARY OF LINES DIRECTLY OPERATED EAST AND WEST OF PITTSBURG.
receipts are paid as rental. The consolidated mortgage is guaranteed by
1879.
1878.
the Pennsylvania Railroad. The unpaid coupons oft$l,508,459 are held
Gross earnings, all lines, from traffic
$60,362,575
$55,426,962 by the lessee for advances. Last annual report was in V. 30, p. 190.
Gross expenses, excluding rentals, interest,
Operations and earnings for five years past were as follows:
dividends, Ac
35,639,794
33,611,034
Gross
Freight (ton)
Net
Passenger
Miles.
Mileage.
Mileage.
Earnings. Earnings.
Showing net earnings
$24,722,780
$21,815,928 Years.
287
311,919,109 $3,365,897 $954,019
15,117,810
Freight Traffic.
287
22,425,613
340,390,703
3,352,979 1,104,53$
1879
1878—s
1877....;... 287
12,466,005
335,727,141
3,172,993 1,123,360
Number of
Number of
Number of
Number of
287
11,444,005
381,300,202
2,921,060
876,111
tons.
tons one mile.
tons.
tons one mile.
297
3,091,807
961,549
East of Pittsburg
(
-(V. 28, p. 252; V. 30, p. 190.)
and Erie
24,970,672 3,061,478,249 19,121,977 2,431,807,656
Philadelphia Germantown <&. Yorriif^mcn.-—Philadelphia, Pa., to Norris¬
West of Pittsburg 20,166,334 2,272,716,185 16,871,837 1,814,100,152
town, Pa., 17 miles; Germantown Branch, 3 miles; Plymouth Railroad,.
9 miles; total, 29 miles. The property was leased Nov. 10, 1870, to
Totals
45,137,006 5,334,194,434 35,993,814 4,245,907,808
Philadelphia A Reading Railroad tor 999 years at a rental of $269*623
Passenger Traffic.
and $8,000 yearly for organization exj>enses. Dividends of 12 per cent
-1879
-1878per annum are regularly paid.
Number of
Number of
Philadelphia Newtown & New York.—From Newtown, Junction to
Number of
Number of
passengers
passengers
Newtown, Pa., 22 miles. Capital stock, $1,200,000. On November 10,
one mile.
one mile.
passengers
passengers.
1879, the Philadelphia A Reading Railroad purchased 12,012 share*,
East of Pittsburg
and Erie
(See
13,602,401
314,260,989 12,792,305
292,725,524 giving control of the property, and guaranteed the bonds
West of Pittsburg 8,261,565
269,515,697
8,041,674
247,275,166 Chronicle, V. 29, p. 512.;
Philadelphia <& Beading.—Main line, Philadelphia to Mount Carbon,
Totals
21.8C3 966
583,776,686 20,833,979
540,000,690 Pa., 98 miles; branch lines owned, 229 miles; leased lines, 495
..

-

'




/

.

,

,

'

••

if

’

RAILROAD

46

Subscribers will confer a great flavor
DESCRIPTION.;
For

explanation of column headings, &o., see notes
on first page of tables.

Philadelphia <t Reading—( Continued l—
Loan mortgage, sterling
do
do
do
(Extended in 1877.)...’. .

Consolidated mort., dollar loan, coupon or reg—
do
do
gold, $ or £, coup
do
do
dollar loan, 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. yearly)

Income mortgage (for $10,000,000)
Debenture and guar, bonds, 6 per cent cur’cy scrip
Gen. mort. and Perkiomen 6 per cent ster’g scrip
Bonds for Berks Co. Railroad
Coal A Iron Co., guar. mort. (for $30,000,000). ..
do
debentures, guaranteed

Philadelphia Trenton^-Stock
Philadelphia Wilmington <& Baltimore—Stock—’..
met mortgage, convertible

1874-56

Plain bonds, loan
do
do
do
do
Pills. C. <£* St. L.—lstm., cons, (for $10,000,000)
2d mortgage

mortgage, Steubenville A Ind., reorganized...

Col. A Newark Division bonds
Pittsb. <& Connellsville.—1st mortgage
do
1st
Turtle Creek division
Consol, mort., guar. B. A O. (s.f. £7,200 pr. yr.)..

Pittsburg Ft. Wayne <£ Chicago—Stock, guar

Special improvement stook, guaranteed
•

[VOL. XXX.

by giving immediate notice of any error

discovered in these Tables*,

INTEREST OR DIVIDENDS.
Date
Size, or
Par
of
Road. Bonds Value.

Miles
of

Amount

Outstanding

11874-695.
78 1879.

Loan debenture
Loan mortgage

1st

AND BONDS.

STOCKS

779
779

779
779
779
779
745

750

1871
1873
1873
1874
1876
1877
1877

112
95
•

• • •

•

•••

200
200
117
33
149
10
149
468

468

1872

$967,200

134,400
1.135.300
2,700,000

100 Ac.

1868
1868
1871
1871

1878
1872-4

*26

£500

$1,000

1843
1867

1,000
1,000
1,000
1,000
1,000

10,649,000
6,999,000
968,000

10,499,900
9,364,000

1,000

r

19,686,000
2,331,000
3,472,973
1,832,760
586,000
13,036,500

1,000

1,000

10 Ac.
90 &c.

1,000

1,731,000

Too

50
500

1,259,100

1858
1867
1,006
1872-4
1,000
1875
1.000
1868
1,000
1873
1,000
1864
1,000
1864
1,000
1868
1,000
100 &c.
1859
1876
£200
100

1871

100

miles; other lines controlled, 56 miles; total operated, 878 lines. In
May, 1879, this company leased for 990 years the North Pennsylvania
Railroad and Delaware A Bound Brook Railroad, and at same time cave
up the Perkiomen Railroad. (See terms of lease under names of those
companies.) The main business of this company has been the transport¬
ation of anthracite coal.
The Philadelphia & Reading Coal & Iron

11,561,250
265,000
1,000,000
700,000
800,000
6,222,000
2,500,000
3,000,000
775,000
4,000,000
326,600
6,500,000
19,714,285
6.329.300

Rate per
Cent.

When

Where Payable,
Whom.

Payable

Bonds—Princi¬

pal,^When Due.
StocJcs—Last
Dividend.

and by

July, 1880
July 1, 1882
July 1, 1893
Philadelphia, Office,
Oct. 1, 1893
do
do
do
do
June, 1911
6 *•
Philadelphia A London. June, 1911
June, 1911
6 g.
Philadelphia, Office.
Jan. 1, 1893
7
Philadelphia, Office.
6
Philadelphia or London Oct. 1, 1897
London A Philadelphia. July 1, 1908
6 g.
Deo. 1, 1896
7
Philadelphia, Office,
do
do
6
July, 1882
London A Philadelphia.
6 g.
July, 1882
May 1, 1898
Philadelphia, Office.
3, 4 ,5, 6
1892 to’94
London A Philadelphia.
7 '
1892
7
Philadelphia, Office.
Jan. 10,1880
2*3
Q.—J.- Philadelphia, Office.
J. A J. Philadelphia A Boston, Jan. 2, 1880
4
6
7
6
7
7

London.
do

A J.
& J.
A J.
A O.
J. AD.
J. A D.
J. A D.
J. A J.
A. A O.
J. A J.
J. A D.
J. A J.
J. A J.
M. A N.
Various
M. A S.
J.
J.
J.
A.

.

-

6
6
6
6
7
7
6
7
7
6 .
6 g.

1\

J.
A.
A.
A.
F.
A.

A
A
A
A
A
A

J.
O.

O.
O.
A.
O.

M’nthly
J.
j.
F.
J.

A J.
a j:
A A.
A J.

Q.—J.
Q.—J.

.

do
do

do
do

July, 1884
April, 1887

Phil’delphia, Co.’s Office Oct. 1. 1892
do
do
April 1, 1900
Phila., Pa. RR. Office. Aug. 1, 1900
do
do
April 1, 1913
N. Y. Agent, 57 B’way.
May. 1884
Jan., 1890
Phila., Pa. RR. Office.
Balt., Balt. A Ohio RR. July, 1898
Pittsb., First Nat. Bank Aug. 1. 1882
London. J.S.MorganACo Jan. 1. 1926
N. Y., Winslow, L. A Co. Jan. 6, 1880
do
do
Jan. 1, 1880

—(V. 28, p. 66, 113, 328, 428, 527, 580, 625; Y. 29, p. 18, 121, 226, 330,

408, 435, 460, 512, 553; V. 30, p. 64,118, 222.)

,

Philadelphia & Trenton.—Philadelphia, Pa., to Morrisville, Pa., 27
On Dec. 1, 1871, it was leased with the United Companies of
New Jersey to the Pennsylvania Railroad, and is operated as a part of
Company is a corporation formed (Dec. 12,1871) for the purpose of-own¬ its New York division. Regular dividends of 10 per cent are paid.
ing and working the extensive coal properties of this company. The
Philadelphia Wilmington dc Baltimore.—Philadelphia, Pa., to Balti¬
Philadelphia A Reading RR. Company owns all the stock of the Coal & Iron
Company, and the trustees of the general mortgage of 1874 hold the bonds more, Md., 96 miles; Port Deposit Branch, 4 miles; Southern Division to
of the Coal & Iron Company. Between 1870 and 1876 this corporation Rodney & Newcastle, Del., 12 miles; total, main line and branches, 112
increased heavily its capital account in the purchase of new properties, miles; Delaware Railroad (leased), 95 miles; total operated, 207 miles.
and after paying 10 per cent dividends for many years ceased to pay This road, on the math line to Philadelphia and Washington, has paid 8
after January, 1876. The company was unable to meet all its obliga¬ per cent dividend for many years, with a considerable surplus. For the
tions. and in March, 1877, propositions were made and accepted, by terms of Delaware lease, see Delaware Railroad. Operations and earn¬
which holders of the general mortgage bonds and Perkiomen guaranteed ings for five years past were as follows:
bonds receive one-half their coupons for three years in five-year 6 per
Passenger Freight (ton)
Gross
Net
Div’d
cent scrip ; and holders of convertible and debenture bonds take 6 per Years.
Miles.
Earnings. Earnings, p. ct.
Mileage.
Mileage.
cent scrip in payment of their coupons for five years. The scrip is convert¬
100
65,634,440 34,260,688 $2,849,554 $1,181,339
8
ible into income mortgage bonds. The bonds due in 1880 will be ex¬
100 104,810,706 38,094,439
3,305,438
1,576,044
8
tended 30 years on payment of 10 per cent premium, or otherwise paid
Ill
59,160,438 42,089,750
2,916,250
1,161,216
8
off. The last annual report, published in the Chronicle, V. 30, p. 64,
112
60,504,494 46,080,501
2,660,446
1,095,103
8
112
8
2,849,919
1,284,346
he last, fiscal year, November 30,1879, together with the estimate of —(Y. 28, p. 67.)
the managers as to the company’s prospects for the ensuing year, sub¬
stantially as follows:
Pittsburg & Oonnellsville.—Pittsburg. Pa., to Cumberland, Md., 150
E8TIMATE FOR 1880.
miles; branch, 2 miles; leased lines, 22 miles; total, 174 miles. On
The following table shows a comparison between the actual results December 13,1875, the property was leased to the Baltimore & Ohio
of 1879 and the managers’ estimates for 1880. In the table for 1879 Railroad, and possession given January 1,1876. The rental is interest
the total receipts, expenses and rentals of the North Pennsylvania Rail¬ on the debt ana £7,200 sterling as an annual sinking fund. The city of
road and the Delaware & Bound Brook Railroad for an entire year are Baltimore transferred its interest to the Baltimore A Ohio Railroad for
included, in order to facilitate comparison with 1880:
$1,000,000, and the consolidated sterling mortgage was made and guar¬
1880.
1879.
anteed by the Baltimore & Ohio. It is operated as the Pittsburg Division
Coal transportation
$7,291,989 $12,150,000 of the Baltimore & Ohio Railroad. In February, 1880, a judgment in
Merchandise transportation
4,156,055
5,000,000 favor of Baltimore A Ohio Company was confessed for $4,354,748. (V. 29.
Passenger transportation
2,233,656
2,500,000 p. 635; V. 30, p.249.)
Miscellaneous receipts
118,263
150,000
Pittsburg Cincinnati <6 St. Louis.—From Pittsburg, Pa., to Columbus,
For ship, coal at Pt. Richmond and Eliza’port
400,000
O., 193 miles; branch to Cadiz, O., 8 miles; total, 201 miles. This was a
Total
$13,799,963 $20,200,000 consolidation of several companies, May 1,1868, including the Steuben¬
All expenses, except interest on debt
9,810,351
11,500,000 ville & Indiana and the Pan Handle roads. This company is controlled
by the Pennsylvania Company, through the ownership of a majority of
;
Total
$3,989,612
$8,700,000 its stock. This company also holds leases of the Little Miami and its
Loss.
dependencies and of the Columbus Chicago A Indiana Central road,
Profit.
Coal A Iron Company
699,450
2,500,000 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 1878 of road
Interest, account, including full sinking funds
proper, $3,176,370;
net, $1,186,763; surplus over interest, &c.,
for 1879 on all sinking-fund debts..’
- «•
7,000,000 $371,383. Loss on leased lines, Ac., $511,141; net deficit, $139,757.
Operations and earnings for five years past were as follows :
Net
Gross
Net profits
$$4,200,000
Passenger
Freight (ton)
Earnings.
Miles.
Earnings.
Mileage.
Mileage.
Of this estimate the report says: “No account is taken in the above of Years.
$743,240
201
29,524,628
207,521,453 $3,185,248
profits on steam colliers and barges, or of loss on canals, as the former
895,837
3,283,683
201
249,969,882
42,253,185
may be expected to cover the latter. With such an earning power prop¬
1,085,280
3,108,193
201
28,622,519
236,678,518
erly established and demonstrated, the company will be able to command
3,176,371
1,186,764
201
28,804,112
287,757,418
money upon the most reasonable terms, ana to extricate itself from all
1,565,597
3,606,425
201
financial difficulty by funding into some proper, permanent security all
of such indebtedness as must be removed before cash dividends are -(V. 28, p. 376; V. 29, p. 539; Y. 30, p. 118.)
resumed. Assuming that the option to take the $5,000,000 of general
Pittsburg Fort Wayne & Chicago.—Pittsburg, Pa., to Chicago, Ill., 468
mortgage bonds will be exercised during the next few months, there will
then remain the following indebtedness which must be paid or funded miles. The company made default Oct. 1,1857, and again in 1859, and
was foreclosed Oct. 24,1861, and reorganized under tliis title Feb. 26,
before cash dividends are made:
$4,500,000 1862. On June 27,1869, the company leased all its road and property
Floating debt, say
Income mortgage bonds
2,218,000 to the Pennsylvania Railroad at a rental equivalent to interest, sink¬
Coupon scrip
5,305,733 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
Total
$12,023,733 subsequently to the Pennsylvania Company. The lessees are to keep
4<
To pay this out of net earnings would require from two to three years the road in repair and also pay taxes, expenses, &c. The Pittsburg Ft.
of prosperous times, and the shareholders would then be entitled to a Wayne & Chicago leases the Newcastle & Beaver Valley and the Law¬
distribution of share capital to represent the earnings devoted to the rence roads,* which in turn are leased again by the Pennsylvania Com¬
payment of indebtedness, first deducting therefrom the present debt pany. The special improvement stock is issued to Pennsylvania Railroad
balance of profit and loss of $2,104,862. If, however, the improved for improvements, Ac., under article 16 of lease, which reads as fol¬
credit of the company enables the managers to pty off the entire lows:
Article 16. The party of the first part hereby agrees that, for the
$12,023,733 out of the proceeds of any new security, the issue of which
would not increase the fixed charges of the company, they would con- purpose of enabling the party of the second part to meet the obligations
aider it their duty to do so, first giving to each shareholder the option of of the party of the first part to the public, by making from time to time
taking his pro rata portion of such new issue, and, in the event of the such improvements upon and additions to the said Pittsburg Fort Wayne
A Chicago Railway, in the extension of facilities for increased business
success of such a scheme (which may be considered highly probable),
reasonable cash dividends could be resumed.” Operations ana earnings by additional tracks and depots, shops and equipments, and the substi¬
tution of stone or iron bridges for wooden bridges, or steel rails for iron
for five years past were as follows:
rails, the party of the first part will issue, from time to time, a special
Passenger
Freight (ton)
Gross
Net
Miles.
Years.
Mileage.
Mileage.*
Earnings.
Barnings. stock, which shall bear such name as shall be hereafter agreed upon, or
799
76,556,003
555,128,028 $12,660,927 $1,530,768 bonds, or other securities, which shall be issued in such form as may,
799
123,871,237
556,121,169
12,227,510 3,717,161 from time to time, be found to be most available with respect to economy
799
74,315,237
711,526,398
12,142,910 4,391,217 of- interest and negotiability, and shall be consistent with the legal
799
75,110,715
610,492,192 11,539,593 4,220,227 powers of the party of the first part and the rights secured by these
1978-9
13,106,352 4,119,011 presents, which special stock, or bonds, or other securities, shall be
*
issued on the conditions following: The said party of the second part
Including coal.
miles.

fives a full statement of the condition of the company at the close of

~




‘

“

"

RAILROAD

March, 1880.]

STOCKS

AND

BONDS.

47

Subscribers will eonfer a great favor by giving Immediate notice of .[any enrol* discovered in tbese Tables.
DESCRIPTION.
For

explanation of column headings, Ac., see notes
on first page of tables.

Pittsburg Fort Wayne A Chicago— ( Continued)—
1st mortgage (series A)
1st
do
do
B
1st
do
do
C
1st
do
do
D
1st
E
do
do
JjOliUQ
clJUL
vUU*
1st
do
do
F

18756.

poll,

uut

•

l^niiinniATit, hnnda /rp.TUVWfifl)

$500Ac.

$875,000

■

.

468
468
468
468
468
468
468
468
468
468
468
468
468
....

_

hake fine-8tflclr

1st mortgage (Oil Creek RR.)
1st mortgage (Un. A Titusville
New Tnorf’gagft (Pitts. T. & B.)

RR.)

it.

—

120
30
39
23
112

ahsirlpatfvn—1 at mortirafffl. irold

it- Rt.n.tp. T/tnp—Stop,If

’Pnvt .Tavniji ft-

,

Hfntt.f.ice.llo—fitoftlr

_

70
50
38
25

.

Funding income bonds (P. T. A B.)
V«w

1862
1862
1862
1862
1862
1862
1862
1862
1862
1862
1863
1862

1862
1857
1874

..

Port Royal A Augusta—1st mortgage
Income mortgage bonds, coup
Portland A Oadensb.—1st mort. E. D,, gold

New mortgage (for $3,300,000)
1st mortgage, Vermont Div., *mid
Portt. A Rochester—lBt mort., s. f. (Portl. loan) “A”
1st mortgage, equal lien
2d
do
(Portland loan) sinking fund, “B”

....

90

.

*

500
500
500
500
500
500
500
500
500
500
500
500

Amount

Ac.
&c.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.

1,000
1,000

1878
1865
1862
1870
1876
1876

•

•

•

When

Cent.

Payable

7
7
7

7
7
7

860,000
860,000
860,000
860,000
860,000
860,000
2,000,000
100,000
1,000,000
2,000,000
1,500,000
580,000
500,000

7
7
7
7

7
7
8

1)583,787

500 Ac.
100 Ac.
100 Ac.

N. Y., Chem. Nat. Bank.

F.
A.
J.
F.

Philadelphia, Office.

1,155,000
315,933

7

1874-596

500,000

Whom.

6 g. J. A J.
7
7
7
7

1,583;000

1,000

k.

Where Payable, and by

J. A J. N. Y., Winslow, L. A Co.
F. A A.
do
do
M. A S.
do
do
A. A O.
do
do
M. A N.
do
do
J. A D.
do
do
J. A J.
do
do
F. A A.
do
do
M. A. S.
do
do
A. A O.
do
do
M. A N.
do
do
J. A D.
do
do
A. A 0
do
do
J. A J.
do
do
M. A 8.
do
do

7
7

875,000
875,000

1,000
1,000
1,000

7g.

A
A
A
A
F. A
A. A

A.
O.
J.
A.
A.
O.

do
do
do
do

Bonds—Princi¬

pal,When Due.
Stocks—last
Dividend.

July
July
July
July
July
July
July
July
July
July
July
July
July

...

1, 1912
1, 1912

1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
Jan. 1,
Moh. 1,

1912
1912

1912
1912
1912
1912
1912
1912
1912
1912

1912

1887
1884

July 1, 1928
Feb.

1, 1896
Apr. 1, 1882

do
do
do

July 1, 1890
Feb. 1, 1896

do

Feb.

PhiliulAlnhifli.

1,' 1896
April 1, 1902

724)276

....

....

....

100 Ac.

1870
1871
100 Ac.
1871
80
52*2 1867-9 500 Ac.
52^2 1870 500 Ac.
52*2 1871. 500 Ac.

•

Rate per

875,000
875,000
875,000

50

70

1st mortgage, gold, coupon...
Pittsb. Titusville A Buffi—1st mort. (W. A F.RR.)..-

TKHah

Outstanding

■

may J

2d
do
do
G
u© rnaae pay Hr
2d
do
do H
ui© to muci
2d
do do
I
2d
do
do
K
2d
do
do
L
do
do
M
2d
3d
do
Pittsburg. Ft. Wayne A Chic, construction bonds

INTEREST OR DIVIDENDS.

Miles Date Size, or
of
of
Par
Road. Bonds Value,

....

....

shall guarantee the payment, semi-annually or quarterly, thereon of
such rate of interest as may he agreed upon between the parties hereto,
to he paid hy the said party of the second part to the holders thereof
without deduction from the rent hereinbefore reserved; and the said

250,000
1,500,000
794,000

6 g.
6 g.
6 g.

1,855,000

6 g.
6 g.
6
7
6

2,300,000
700,000
350,000

450,000

J.
J.
J.
M.
M.
J.

A J.
New York, Office.
A J.
do
do
A J. Boston, First Nat. Bank
A N.
do
do
A N. New York and Boston.
A J. Boston, Columbian B’k.
A. A 0.
do
do
Various
do
do

Jan. 1, 1899
Jan. 1, 1899
Jan., 1900

Nov., 1901
May, 1891
July 1, 1887
Oct. 1, 1887
Sept. 1, 1891

lished in the Chronicle, V. 30, p.

141. The gross earnings in 1879 were
$335,648; net, $157,923. The Lake Shore & Michigan Southern sub¬
scribed for $200,000 of the stock. (V. 28, p. 113,147; V. 30, p. 141.)

Pittsburg Titusville A Buffalo.—Corry, Pa., to Irvineton, Pa., 95 miles,
special stock, or bonds, or other securities, shall be issued only in respect
to improvements of and additions to the said railway which, and esti¬ and branch to Titusville, Pa., 25 miles; total, 120 miles. Organized in
mates and specifications of which, shall have been submitted to and 1876 as successor of Oil Creek & Alleghany Railroad, which was a con¬
approved by the said party of the first part in writing; and all such solidation embracing the Oil Creek ana Warren A Franklin' roads. De¬
improvements or additions shall be made in such manner as shall be fault was made August 8,1878, on the consolidated bonds. In February,
approved by the said party of the first part. The party of the first part 1880, a consolidation was voted with the Buffalo Chautauqua Lake A
shall hot at any time, during the term aforesaid and the continuance of Pittsburg Railroad on the basis of $6,375,000 common stock and $750,this lease, make or issue any bond or obligation, in addition to the bonds 000 preferred stock. The new company is to assume all liabilities of
hereinbefore specified, except subject to this lease, without the consent the old. See V. 30, p. 193, as follows: “ By the articles of consolidation,
in writing of the said party of the second part first had and obtained the capital stock of the consolidated corporation is fixed at 127,500
shares of common stock of a par value of $50 per share, making
thereunto.”
The lease has been profitable to the lessees. Operations and earnings $6,375,000, and 15,000 shares oi preferred stock of a par value of $50
each, making $750,000. The stockholders of the Buffalo Chatauqua
for five years past were as follows:
Passenger Freight (ton)
Div’d Lake & Pittsburg Company are to receive 27,500 shares of the common
Gross
Net
Years. Miles.
Mileage.
Mileage.
Earnings.
Earnings, p. ct. stock of the consolidated company and 2,500 shares of the preferred
468
84,262,377 491,289,899 $7,863,664 $3,278,398
7 stock. But there shall be paid to the consolidated company by the
468 107,790,180 567,572,005
7,853,848
3,066,687
7 stockholders of the company the aggregate sum of $175,000, $o0,000 of
468
76,466,488 439,998,281 ,6,928,856
2,864,457
7 which is to be expended upon improvements. It is also provided that
468
3,689,196
7 there shall be issued to the holders of the common stock of the Pittsburg
77,819,493 637,470,506
7,830,109
Titusville & Buffalo Railway Company, to represent property actually
1879
The report for 1879 of the Pennsylvania Railroad Company (lessee) received, 100,000 shares of the common stock of the consolidated com¬
shows a net profit on all lines west of Pittsburg of $1,682,326, against pany, and as many shares of the preferred stock as there shall at the
time of the ratification of the agreement be outstanding
$716,520 in 1878, showing a gain for 1879 of $965,806; and the report stock of the Pittsburg Titusville A Buffalo Railroad of the preferred
Company. The
says: “ It will be noted that this result is reached after providing for bonds of the Buffalo
Chatauqua Lake & Pittsburg Company, amounting
the interest upon all the bonds of the Pennsylvania Company ana theto $250,000, and all the bonds of the Pittsburg Titusville & Buffalo
second mortgage bonds of the Pittsburg Cincinnati and St. Louis Rail¬
Company, shall be assumed and paid by the consolidated company.
way Company. By reference to the general account of the former com¬ The
income bonds, old and new scrip, and also all overdue coupons of
pany, it will also be seen that it paid off during the year $600,000 of its the
Pittburg Titusville & Buffalo Company, shall also be assumed by the
debentures, leaving $6,400,000 outstanding. Neither the Pennsylvania
consolidated company. It is also provided that the officers of the Pitts¬
Company nor the Pittsburg Cincinnati & St. Louis Railway Company
has any bills payable. Under the operation of the sinking fund for the burg Titusville & Buffalo Railway Company shall serve until the next
redemption of the six per cent bonds of the Pennsylvania Company, election, as the officers of the consolidated company, on the second
secured by the special guaranteed stock of the Pittsburg Fort Wayne A Monday of January, 1881.” (V. 28, p. 18, 277; V. 29, p. 253; Y. 30,
Chicago Railway Company, $96,000 were purchased and cancelled in p. 17, 67,193.)
1879. The sum of $316,499 was paid into sinking funds during 1879
PittsburgVirginia A Charleston.—From Birmingham Pa., to Monongafor the redemption of existing mortgages on the leased lines west of hela
City, Pa., 30 miles. The stock is $676,613. Of the bonds, $500,000Pittsburg. Of this amount, $104,100 were paid into the fund provided are owned by the Pennsylvania Railroad. Net earnings in 1876 were
for the extinguishment of the first and second mortgage bonds of the
$40,346; in 1877, $34,640; in 1878, $52,298 ; in 1879, $27,084. (V. 28,
Pittsburg Fort Wayne & Chicago Railway Company. Of these bonds, p. 113.)
have been redeemed; but they are now held so much above
$2,331,000
Pomeroy <£■ State Line.—Pomeroy, Pa., to Delaware City, Del., 39
par that it is impossible for the trustees thereof to purchase the same at
apy reasonable figure for the sinking fund. For the protection of the miles. The property was leased to the Pennsylvania Railroad, lessees
interests of the bond and stock holders of that company, and to prevent paying net earnings as rental. On August 12,1879, the road w'as sold
the further accumulation of moneys in this fund, it will be necessary in foreclosure for $100,000, and this company organized. (See V. 29, p.
that the trustees be authorized to invest the same in other first-class 162; Y. 30, p. 170.)
securities, and this matter will be urged upon the attention of the
Port Jervis A Monticello.—From Port Jervis, N. Y., to Monticello, N. Y.,
proper parties. During the year $775,000 of the coupon bonds of the 24
miles. Formerly
Pittsburg Cincinnati & St. Louis Railway Company have been converted sold in foreclosure the Monticello A Port Jervis Railroad, which was
July 16,1875, and reorganized as the present Port
into registered bonds, in accordance with the authority conferred by act
Jervis & Monticello.
Gross earnings in 1878 $27,954; net earnings,
of Assembly, and notice given by the trustees, making the total amount
converted to the end of 1879 $2,711,000. The holders of the seven per $3,103. The stock is $724,276, issued to the former holders of first
cent coupon bonds of the Steubenville & Indiana Railroad Company are mortgage bonds.
•i
also availing themselves of this privilege, $319,000 having been so ex¬
Port Royal
changed during 1879. The amount expended for betterment pur¬ 112 miles. A Augusta.—Line of road, Port Royal, S. C., to Augusta, Ga.,
Formerly Port Royal Railroad. Defaulted Nov. 1, 1873,
poses during the year on all the above lines was $388,548 27, in
addition to new equipment purchased by the Indianapolis & St. and receiver appointed May 9,1875. Sold in foreclosure June 6,1878,
and purchased, for the bondholders, who organized this company. The
Louis Railway Company, at a cost of $130,477 60.
The Pennsyl¬
The new
vania Company received $8,374 15, leaving a balance due on account Georgia Railroad was endorser on $500,000 of the old bonds.
stock is $750,000.
thereof and of expenditures formerly made of $427,511 81.
The
renewal of your western lines in steel
throughout the year; 7,711 tons were

has been steadily continued

put into your northwestern
system, of which 3,329 were placed ill the western division of the

Fort Wayne Road, leaving but sixteen miles to be renewed to complete
the entire line between Pittsburg and Chicago in steel. On the main
line of the Cleveland & Pittsburg road 1,963 tons were laid. On the
southwestern lines 13,560 tons were laid during the yea£ of which 2,814

Portland A

-

Ogdensburg. —Line of Portland Division, from Portland,

Me., to Fabyans, 91 miles.

It reaches the Vermont Division by using 14

miles of the Boston Concord & Montreal Railroad and a 3-mile link of its
own.
The Vermont Division is 119 miles, Lunenburg, Vt., to Swanton,
Vt. In March, 1875, the two divisions were nominally consolidated. In
1876 the company defaulted and a receiver was appointed. . Litigation
has since been pending. In February, 1880, the Vermont division bond¬
holders organized a new company as the St. Johnsbury & Lake Cham¬
plain Railroad. Earnings of the Portland Division for five years past

put in the Little Miami Road, 1,802 in the Jeffersonville Madison
Indianapolis Road, and 8,319 in the Columbus Chicago A Indiana
Central. Two-thirds of your northwestern lines and about thirty per
cent of your southwestern lines have now been renewed in steel. Of the were as follows:
Gross
Net
Fort Wayne line, 207 miles are full ballasted with cinder and stone, and
Miles.
Earnings.
Earningsthe same work is being done on the Cleveland A Pittsburg Road. By Years.
-801*
$226,150
$104,047,
reason of these betterments and o# the improved condition of then*
94
234,980
91,06$
equipment, the earning power of these lines has been materially in¬
94
262,764
69,481
creased and theirpercentage of expenses reduced, so that the Pittsburg
94
270,783
88,574
Fort Wayne & Chicago Railway shows a cost per ton per mile tor the
94
271,493
92,295
past year of 4*38 mills. Wooden bridges are being replaced with iron,
engines of greater power substituted for the lighter classes, and other —(V. 28, p. 144, 200; V. 29, p. 253, 435, 632; V. 30, p. 14*, 170.)
steps taken to bring youi*' western lines up to the highest standard and
Portland A Rochester.—Portland, Me., to Rochester, N. H., 53 milesfully provide for their increasing traffic. (V. 28, p. 377,-598.)
were

A

Put in the hands of

a

receiver

February, 1877. The boiids series A and

Pittsburg A Lake Erie.—From Pittsburg, Pa., to Youngstown, O., 68 B were issued to the city of Portland in exchange for city bonds, on
miles; branch line to Newcastle, Pa., 3 miles; total, 71 miles. Opened which the city pays interest. July 8, 1879, the interest of the city in
Feb. 1,
1879^ Floating debt, $151,550. The annual report was pub¬ this road was sold to the receiver. (V. 28, p. 41,625; V. 29, p. 42.)




i

RAILROAD

48
Subscribers will confer

a

AND

STOCKS

BONDS.

[VOL. xxx.

great favor by giving immediate notice of any error discovered in these

DESCRIPTION.

J3®rfcexplanation of column headings, &c., see notes
on first page of tables.

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Miles

Date
Size, or
Par
of
of
Road. Bonds Value.

Tableq,

Amount

Outstanding

Rate per When Where
Cent.
Payable

pal,When Due.
Stocks—Last
Dividend.

Payable, and by
Whom.

-

‘

1877

42
22
67
44

'

97
39

2d mortgage, coupon
Lancaster & Reading, 1st mortgage
Stensselaer & Saratoga—Stock
1st mortgage, consolidated (for $2,000,000)
jRhincbeck d Conn.—1st mortgage, gold
fiUchmond d Danville—Stock
State linking fund loan

39
15

1875-6

Bonds, guaranteed by State
3d mortgage, consolidated, coupon or
3New

'

....

1871

m

m

m

1867

m

142

Piedmont branch, 1st mortgage
"North western. N. C., 1st mort., guar

1873

•

•

•

....

•

•

•

•

....

....

•

Ooupon bonds of 1881

....

....

..

-.

...

....

....

ILbehmond d Petersburg—Stock
25

mortgage, coupon
■Sew mortgage
.Rochester d• Genesee Valley—Stock

1870

18

....

100

555,200

1,000

2,180,000

....

109

1878

Portland Saco d Portsmouth.--Portland, Me., to
-miles. It was leased May 4, 1871, to the Eastern
per cent on stock. Lease rental changed May
uitttil July 1, 1881, and after that 6 per cent.
(V.

Portsmouth, N. H., 51
Railroad, Mass., at 10
21, 1877, to 8 per cent
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 by
Eastern (Mass.) A suit is pending to reduce rental. Frank Jones, Pres¬
ident, Dover, N. H.
Portsmouth Great Falls d Conway—Conway Junction, Me., to North
4Conway, N. H., 71 miles. The Eastern Railroad in Massachusetts has
irnade a lease of the road for 60 years from October 1, 1878, with a guar
auteed rental of $45,000 a y^ar, which pays 4^ per cent on $1,000,000
bonds, and the stock is to receive the

same

dividends

as

$1,150,300, and the lessees
the stock.

the stock of the

$486,000 of
(V. 27, p. 15, 97, 115, 228.)
own

& J.
& J.

Providence, Office.
do
do

....

•

do

do

,N. Y.

Providence d

Springfield.—Providence, R. I., to Pascoag, 23 miles. It
proposed to extend the road to Springfield, Mass. The stock is $517,In 1878-9, gross earnings were $79,988; net earnings, $39,302.
■^William Tinkham, President, Providence, R. I.
Providence d: Worcester.—From Providence, R. I., to Worcester, Mass.,
-33 miles; branches, 8 miles; leased Milford <fc Woonsocket Railroad and
Hopkinton Railroad, 15 miles; total operated, 67 miles. Operations and
veaznings for five years past were as follows:
Net
Div.
Passenger
Freight (ton) Gross
Years.
Miles,
Mileage.
Mileage.
Earnings. Earnings. p. c.
“5.874-5.... 66
10
14,976,537
14,283,114 $890,660 $237,439
11875-6.... 66
8
13,516,407
17,192,890
226,032
894,155
1876-7.... 66
4
13,592,849
18,862,705
904,635
245,299
11877-8.... 66
4
13,973,108
17,916,241
865,792
285,731
1878-9.... 66
5
12,864,603
19,286,814
919,852
350,345
Raleigh d■ Gaston..—From Raleigh to Weldon, N. C., 97 miles. Stock,
I,500,(KX). Dividend of 3^ per cent paid October, 1879. Earnings for
re years past were as follows:
as

150.

Gross

Years.
T874-5

Miles.
97
97
97
97

11.878-9 (L4 months)

97

Net

Earnings.

Earnings.
$96,110
88,701

$261,142
242,245
234,511
242,478
295,051

85,750

107,185
115,343

—(V. 27, p. 94.)
Reading <6 Columbia.—From Columbia to Sinking Springs, Pa., 40
railes; branches, 12 miles; Lancaster & Reading Railroad, leased, 15
raaile*; total operated, 67 miles. Stock, $958,373. The road is controlled
f*a.d operated by Philadelphia & Reading, but accounts kept separate,
across earnings in 1878, $254,764; net earnings, $73,624; payments for
3Lnterest and rental, $94,930.
'Rensselaer d Saratoga—FLain line, Troy to Whitehall, N. Y., 73 miles;
branches, Albany to Waterford, 12 miles; to Green Island, 1 mile; to
Glens Falls, 6 miles; to Castletown, Vt., 14 miles; to Rutland, Vt., 62
.miles; Balstonto Schenectady, 15 miles; total line and branches, 183
miles. It was a consolidation of several lines, and the Delaware & Hud¬
son Canal Company leased the whole March 1,1871, at a rental of 8
per
-scent on the stock and 7 per cent on the bonds. The earnings given
below include the New York & Canada Railroad (150 miles). Opera¬
tions and earnings for four years past were as follows:
Years. Miles
Y.875-6.. 332
1.876-7.. 332
1877-8.. 332
4878-9.

Passenger
Mileage.

20,965,596
18,761,702
19,292,734

(V. 29, p. 581.)

Freight (ton)
Mileage.

Gross

Earnings.

Net

Earnings,

$1,981,234

—
$694,786

1,826,942
1,823,360

Div.
p.c.

^

660,195
754,346

1,911,465

30,698,401
30,718,974
32,283,281

804,288

-

1937

July 1, 1892
Jan. 1, 1880
July 1, 1880

M. & 8. N. Y„ Union Nat. Bank.
J. & D. Columbia, First Nat.B’k
J. & J.
do
do
J. & J. N. Y., Nat. B’k Com’rce.
M & N. N.Y., Del.& H.Canal Co.

Jan., 1896
Mch. 1, 1882
June, 1884

July 1, 1894
Jan.

1,

1880

Nov., 1921

J & J
J. & J,
M, A N.

Richmond, Office.
do

N. Y., City
do

....

Nat. Bank.

1880
Jan. 1, 1875
1878 to ’90

do

'

1888

....

A. &r O. New York or Richmond
.T. & J.
London.
Various
Richmond, Office.
J. & J,
do
J. & J.
Richmond, Office.
A. & O.
do
do
M. & Nr
do
do
J.
J.

&

J.
& J.

1885
1880-85
1881-’90
Jan. 6. 1879
1880 to ’86 "

May 1, 1915
N.Y., by N.Y.L.E.&W.Co j cVEL. lj 1880
New York.
July 1, 1902

“

The volume of traffic—both passenger and freight, and especially the
latter—shows a very encouraging growth. The total gross tons of freight

transported are 354,521 tons, as against 282,730 tons for the previous
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; an
increase of 13,794,460, or 41*4 per cent.
The total gross earnings from
freight traffic are $1,145,373, against $956,634 for the previous year;
an increase of $188,739. or 19*7 per cent.
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 & Augusta Railroad established in the fall of 1878,
as reported to your last meeting, by which an addition to the freight
traffic alone of $93,722 was received. The local and connection freights
of the Richmond & Danville Railroad have also yielded increased
revenues of $62,995; aud passenger trains on all lines have
produced
increased earnings over last year of $35,728, as shown above/*’
year; an

i3ngs, $1,162; rental, $7,833.

IN. Y.

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
nailes.
The North Carolina Railroad and the Northwestern (N.
C.)

»re also leased, but operated
separately. In 1878 the Pennsylvania
Railroad, which lias an interest in this line, purchased a control of the
^Charlotte Columbia & Augusta Railroad. The last annual report was
published in the Chronicle, V. 30, p. 142. and referred to the business

as




follows:

Deduct
Deduct
Deduct
Deduct

$499,994
40,526

$540,520

interest on funded debt
interest on floating debt
rental Piedmont Railroad
loss on lease North Carolina Railroad

$246,444
10,604
60,000

"

35,906
352,955

Net income.

$187,565
PROFIT AND LOSS.

Balance to debit of this account, Sept. 30, 1878

Sundry accounts charged during past

$312,227
10,451

year

$322,678

Following amounts credited during past

year, viz:
Net income for the year 1879
Premium on Greenville and Spartanburg county
bonds sold

$187,565

Sundry accounts

19,868
22,108
229,541

Balance
$93,136
Operations and earnings for five years past were as follows:
Gross
Net
Passenger Freight (ton)
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
7,336,680
16,372,844 $923,058
$323,448

201
201

7,358,335
5,945,446
5,895,111

17,435,445
21,529,175
23,514,209

-(V. 30, p. 142.)

937,198
909,317
942,386
1,098,597

438,232
292,591

310,948
499,994

Richmond
Fredericksburg d Potomac.—From Richmond, Va., to
Quantico, 80 miles. The common stock is $1,031,500 and guaranteed
stock is $500,500.

29, p. 656.

p.

656.)

An abstract of the report of 1878-79 was given in V.
Gross earnings, $317,032; net earnings, $155,056. (V. 29,

Richmond d Petersburg.—From Richmond to Petersburg, Va., 22*3
miles; branch, 2 miles; total, 24*2 miles. The road has earned moderate
dividends and the debt account is very small. Operations and earnings
for five years past were as follows:
Years.

Miles.
25
25
25

25
25

Passenger
Mileage.

Freight (ton)
Mileage.

2,344,675
2,238,173
2,097,594
2,016,684
2,176,390

2,124,063
1,475,359

1,576,263
1,594,670
2,047,436

Gross

Net

Earnings. Earn’gs.
$164,935 $78,251
137,407.’
137,116
140,069

Dir
p.c

60,096
47,271
62,553
73,071

154,622

Rochester d Genessee Valley.—Avon to Rochester, N. Y., 18 miles.
Leased July 1, 1871, to Erie Railway, and now operated by New York
Lake Erie & Western. Rental, $34,012. James Brockett, President,

Rochester, N. Y.

Rhinebcck d Connecticut —Rhinecliff, N. Y., to Boston Corner, N. Y.,
2J5 miles. Opened April 4, 1875. Leases 6 miles to Connecticut State
Sine. Stock, $614,500. Gross earnings in 1877-8, $55,951; net earn-

«#f the road

Dec. 1,

'

Bailroad.
The stock is $850,000.
In 1877-8, gross earnings were
.-#56,296, and expenses $67,417. G. P. Pelton, President, Poughkeepsie,

—

July 15, 1873

1897

....

The income account was as follows:
Poughkeepsie Hartford d Boston.—From Poughkeepsie, N. Y., to New
iniles. The Poughkeepsie A; Eastern Railroad was Net
earnings Richmond & Danville Railroad
■opened in 1872, and was sold in foreclosure May 15, 1875, and the Received
frqp interest on investments
present company organized. It connects with the Connecticut Western
York State Line, 43

•

Jan. 15, 1880
Jan. 1, 1880

•

1,008,600
175,000
31,000

1,000

1875

....

jRochester & State Line.—1st mortgage

Iftssees. The total stock is
4th.e bonds and $551,300 of

11887744-965-695.

100

^ist

J.
J.

J.
Boston, Office.
J.
Portsmouth, Treas,
J. Bost., Eastern RR. Co.
D.
do
do

.

500,000
500,000
57,327
180,000
450,000

-

• • • •

Dollar loan

....

....

29

EZich'd Iredericksbury d Potomac—Bonds, ster

m m

1,000

1874

49

+

4^2

3,866^000

100

io
m

r

1,000

35

registered.

6
6
6
6 g.
8
6*70
6 g.
6 & 7
8
2
8
7
3
7

1,000

199

general mort., gold (for $6,000,000)

7
4
7
7

508,486
109,400
1,767,500
1,728,000

100 &o.

100

181
79

7

350,000
7,000,000
1,925,000
800,000

....

7
3
6
6
7
7

350,000

1,000

1870
1877
1873
1862
1864
1874

J. &
J. &
J. &
J. &

3
3
3

757,800
770,000
486,000
535,000
500,000
2,000,000
500,000
650,000
658,000
650,000

ioo

*

IRalcigh d Gaston— 1st mortgage
^Loading d Columbicir— 1st mortgage, coupon

<-

■

71
71

$1,500,000

100
100
500 &c.

11

Poughkeepsie Hartford d Boston—1st aud 2d mort.
Providence & Springfield—1st mortgage
Providence d Worcester—Stock
.First mortgage bonds
"New bonds

$100

52

SPsrrUand Saco d Portsmouth—Stock..
jturlimouth d Dover—Stock
JPorimiouth Ot. Falls d Conway—Stock
Bonds (not mort.) guaranteed by Eastern RR

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,

appointing Sylvanus J. Macy, of Rochester, receiver of the company.
The application was made by the Union Trust Co. of New York City. It
is claimed that the bankruptcy of the road was brought about bycertain 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
It is believed that an

city in an equal
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. 3£), p. 170, 223.)
*
amount of the railroad stock.

J

March,

RAILROAD

1880.]

Subscribers will confer a great favor

first page

of tables.

Rock Island d Peoria—1st mortgage
Rome Waiter town d Ogdensburg—Stock
1st sinking fund mort., Wat. & R
General mortgage, sinking fund
2d mortgage
Consol, mort., convert, till July, ’79,

18749-56.;

coup

Rutland—General mortgage (8 per cent, now 6) —
New mortgage in exchange for equipment bonds

Sacramento d Placerville -1st
1st mortgage (S. & P. RR.)

by giving Immediate

mortgage (8. V. RR.).

Saginaw Valley d St. Louis.—1st mortg., coup
Joseph d St. Louis—1st mortgage
St. Joseph d Western— 1st M. St. Joseph <& Pacific..
2d mortgage, income
;
Kansas & Nebraska, 1st mortgage
do
2d mort., income
St.

•

St. Louis Alton d Terre Haute—Stock
Preferred stock (7 per cent yearly,

cumulative)..
lst.mortgage (series A) sinking fund.. 2 ©^ a
1st mortgage (series B) sinking fund..
2d mortgage, preferred (series C) —..
£
P<o3

1855
1861
1872

1874
1872
1878
1855
1877

....

49

34*2
76
112
112
115
115
207

m

m

1872
1874
1876

1876
1876
1876
....

....

....

m

$150,000
3,147,600
424,200
1,021,500
1,000,000
4,250,000
1,500,000
1,105,200

$....

91
409
97
190
190
360
120
120

'

1864
1864
1864
1864
1864

100
100 &c.
500 &c.

1,000
1,000
100 &c.
100 <fec.

400,000
700,000
446,000

....

....

1,000

(series D)

Equipment mortgage

101?
B .©

O
_

convertible till ’87

St. L. Hannibal d Keok— 1st M .
S>. Louis Iron Mountain d Southern—Stock
1st mortgage^ coupon
;
2d mortgage, gold, coupon, may
Arkansas Branch, 1st mortgage, gold,
Cairo Ark. & Texas, 1st mort., gold, coup or reg.
Cairo & Pulton, 1st n ort., gold, on road
1st pref. income bonds, reg.,
—....
2d pref. income bonds, reg.,

be registered—
land grant

and land

(cumulative)
(cumulative)

....

,

V

-

•

...»

600,000
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

100 &c.
....

100 &c.
....

100
100

1,000
500 &c.

78 81
2d mortgage, preferred
2d mortgage, income

notice of any error discovered In tbese Tables.
Bond#—Princi¬
OR DIVIDENDS.

INTEREST
Miles Date Size, or
Amount
Rate per When Where
Par
of
of
Outstanding
Cent.
Payable
Road. Bonds Value.

DESCRIPTION,
on

49

STOCKS AND BONDS.

1,000
1,000

50
686
210
310
100
72
300
....

*

*

*

•

1877

1867
1872
1870
1872

1,000
1,000
1,000
1,000
1,000

1870

1879
1879

7
7

%

5,927,000

2,500,000
1,450,000
8,000,000
4,163,297

....

4,089,000

1,000

1,1900

July 15,1875
Bept. 1, 1880
Dee. 1, 1891
Jan. 1, 1892

July 1, 1904
1, -1902

Nov.

1875
1900

M. & N. New

York, 9th Nat. Bk.

& J.

J.

J.

& J.

J.
J.

& J.

& J.

New York.
do
do
do

Mny 1, 1902
1894
Jan. 1, 1915
Jan. -1, 1915
Jan. 1, 3 915
Jan. 1, 1915

....

....

J. & J. N. Y.yC^flce 12 Wall st.
ido>
do
A. & O.
do
do
F. & A.
do
do
M. & N.
do
do
M. & N.
do
do
M. & S.
A. & 0. N.Y., Araerm’n& Burw’l.
^

7

Feb. 1,1878
1894
1894
1894
1894
1894
1880
Oct. 1, 1917

*

.

7
7
7
7
7
6

J. N. Y., Farm. L. & T. Co.
do
do
8.
do
do
D.
do
do
J.
do
do
O. ^
N.
Boston, Treasurer.
do
do
A.

....

2
7
7
7

21,202,661
4,000,000

Stocks—Last
Dividend.

....

....

300,000
140,000

1,000

100 &c.
100

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

7
7
10
7

500 &c.

Whom.

Jan.

10
3
7
7

6
5
10
6
8
7
7
7
7
7

pal, When Due,

Payable, and by

.

*.

g.
g.

F. & A. N.Y.,Office 20 Nassau st
M. & N. New York or London.
J. & D. New York, Co.’s Office.

g.

J.

do

do

g.

J.

do
do
do

do
do

& D.
& J.
March.
March.

Aug. 1,
Mayl,
June 1,
June 1,
Jan. 1,

1892
1897
1897

1897
1891

Various.

do

purchasing committee, Messrs
bonds retained by them at
and Extension are
April 4,1877, the bondholders becoming the purchasers. Capital stock, operated separately by this company, and earned net in 1878, $141,268.
$1,500,000. Gross earnings, 1878, $366,489; net earnings, $96,278, out —(V. 27, p. 17, 140, 437, 454, 488, 603, 678; V. 28, p. 476; V. 29, p.
of which a 3 per cent dividend was paid on the stock. It is controlled by 436, 658 ; V. 30, p. 170.)
Chicago Rock Island & Pacific. (V. 28, p. 351.)
St. Louis Hannibal d Keokuk.—From Hannibal, Mo., to Keokuk. This
Rome Watertown d Ogdensburg.—Rome to Ogdensburg, 141 miles;
is
new road under construction.
The bonds were offered in New York.
branches, 49 miles; Oswego to Lewiston, 146 miles; Sandy Creek to —(V. 29, p. 539, 608.)
Syracuse, 44 miles; leased Oswego & Rome Railroad, 29 miles; total
St. Louis Iron Mountain d Southern.—Line of road, St. Louis, Mo., to
owned, leased and operated, 409 miles. It was a consolidation October,
1861, of the Watertown & Rome and the Pottsdam & Watertown rail¬ Texarkana, Texas Line, 490 miles; branch lines, Mineral Point, Mo., to
roads. The Lake Ontario Shore Railroad was foreclosed September 22, Potosi, Mo., 4 miles; Bismarck, Mo., to Belmont, Mo., 120 miles; Poplar
1874, and transferred to this company January 15, 1875. The Syracuse Bluff, Mo., to Bird’s Point, Mo. (Cairo), 71 miles; total, 685 miles. This
consolidation (May 6, 1874) of the St. Louis & Iron Mountain, the
Northern was foreclosed, and purchased by this company August 1,
1878. The Oswego & Rome was leased January 1,1866, at 8 per cent Arkansas Branch, the Cairo & Fulton and the Cairo Arkansas & Texas
stock and interest on bonds. The Rome Watertown & Ogdensburg railroads. In 1875 the company defaulted, but promised to resume the
has been in default on coupons of the consolidated bonds since April 1, payment of interest if bondholders would fund certain coupons, which
1875. No reorganization or foreclosure has taken place. Operations they did. The officers of the company afterwards broke faith with the
bondholders, refused to pay the coupons, applied the earnings of the
and earnings for five years past were as follows:
Net
Gross
road (which were large) to the payment of floating debt instead of in
Passenger
Freight (ton)
Earnings. Earnings. terest, and resorted to litigation to defeat the bondholders.' Finally, a>
Mileage.
Mileage.
Years.
Miles.
compromise agreement was made November 27,1878, as, reported
21,165,541 $1,149,907 $259,283
14,205,798
269
277,574 in the Chronicle (V. 29, p. 43), from which the following is quoted:
1,221,727
20,366,365
15,588,607
335
336,708 “It is recited that the company intends to pay in full the coupons
1,248,842
26,732,738
17,549,628
408
350,747 maturing on and after July 1st, 1879, on the several classes of defaulted
1,203,786
24,967,418
15,199,509
408
278,648 divisional mortgage bonds, viz.: the St. Louis & Iron Mountain Rail¬
1,113,288
408
road second mortgage bonds, the Arkansas Branch bonds, the CaiFO
—(V. 26, p. 334; V. 28, p. 276; V. 29, p. 68, 581.)
Arkansas & Texas Railroad bonds and the Cairo & Fulton Railroad
Rutland.—From Bellow’s Falls, Vt., to Burlington, Vt., 120 miles. This first mortgage bonds; but that only one-half of the interest on these
bonds maturing on and prior to June 1st, 1879, will be paid in cash.
road has been through many changes. It was leased to the Central Ver
The subscribing bondholders agree to deposit with the Union Trust
mont in December, 1870, for 20 years, but the lessee became insolvent,
Company the funded interest certificates and unpaid coupons belonging
and finally a modification of the lease was made, givfcig $250,000 per
to their mortgage bonds, and to receive in exchange therefor first pre¬
year as a minimum rental and $8,000 for organizatimi expenses. The ferred
income bonds, bearing 7 per cent interest, payable annually on
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, March 1 out of the net surplus income of the preceding calendar year,
V. 29, p. 145.)
The common stock is $2,480,600 and preferred and maturing at the same date as the bonds, for the arrears in interest
which they are issued. The interest on these first preferred income
$4,000,000. (V. 30, p. 118.)
bonds is to be payable after the interest on the several divisional
Sacramento d Placerville.—Sacramento, Cal., to Shingle Springs, Cal., mortgage bonds, and to be accumulative; the interest certificates and
491s miles. This was a consolidation of the Sacramento Valley and the coupons for which they are issued are not to be canceled, but held
Folsom <fe Placerville railroads, April 19, 1877. Capital stock, $1,756,security for the execution of the agreement as specially provided.
The subscribing bondholders who hold consolidated mortgage bonds
000. Gross earnings, 1878, $157,750; net earnings, $56,688.
agree to deposit them with the Union Trust Company, and to receive in
Saginaw Valley d St. Louis.—From S aginaw to St. Louis, Mich., 35 exchange therefor second preferred income bonds, bearing 6 per cent
miles.
Road opened January, 1873. Has a traffic guarantee from
interest, payable annually out of the net surplus income remaining after
Michigan Central. Capital stock, $264,801. In 1878, gross earnings the payment of all interest due on the first preferred income bonds, and
$34,952; net $51,967. Interest payments. «fcc., $53,728. In July, accumulative. The consolidated mortgage bonds are not to be canceled,
1879, management was transferred to the Detroit Lansing & Northern. but kept as security for the execution of the agreement as specially pro¬
—(V. 27, p. 304; V. 29, p. 96.)
vided. The subscribing stockholders agree to transfer their stock to the
St. Joseph d St. Louis.—St. Joseph, Mo., to Lexington, Mo., 76 miles. trustees, who shall have the absolute right to vote upon the same until
year after the period subsequent to March 1, 1880, when the com¬
Present company is successor to the St. Louis & St. Joseph Railroad, sold
in foreclosure February 8, 1874. The St. Louis Kansas City & Northern pany shall have paid the full interest due and accumulated on said first
took a lease of the road for 99 years July 1, 1874. The terms of the and second preferred income bonds, provided also that the company
lease are an annual payment of $35,000 for five years and then 30 per shall pay punctually the full amount of interest accrued during that year
such bonds.” In March, 1880, an effort was made to end this trust
cent of gross earnings, but $25,000 guaranteed. Capital stock, $100,000.
by obtaining the consent of the bondholders. The annual report for
St. Joseph d Western.—Line of road: East Division—West St. Joseph, 1879 has the following:
;
$5,292,611
Kan., to Marysville, Kan, 112 miles; West Division—Marysville, Kan., Gross earnings
to Hastings, Neb., 115 miles; total, 227 miles. This is a reorganization Operating and general expenses
2,992,056
of the former St. Joseph & Denver City road, which went into the hands
of
receiver in 1874 and was sold in foreclosure in November, 1875.
Net earnings
1
$2,300,555
On the foreclosure of the two divisions two companies were organized,
the St. Joseph & Pacific and the Kansas & Nebraska, with bonds as The gross earnings were $778,290 over those of 1878 and the net earn¬
above. These were consolidated as St. Joseph & Western, with $3,300,- ings $354,599 over those of 1878. The increase of earnings was wholly
000 stock. The present bonds have no lien on lands, as the land grant in the transportation of freight, the total being $4,103,664, showing an
of 300,000 acres was put in hands of trustees for the benefit of the increase of $820,767 over 1878. The following appears in the Auditor’s
holders of the old land scrip of $2,250,000. The first coupon on Kansas statement of general balances:
& Nebraska bonds is due July, 1881.
The road is leased to Kansas It will be noticed that the debit balance to income account
Pacific, and thus to the Union Pacific, and is to be extended (as reported)
December 31, 1879, was
$1,577,753
to a junction with the Kansas Pacific at Agate, 66 miles east of Denver.
And the debit balance to income account Deo. 31,1878
1,236,415
In 1878 the gross earnings were $641,391; operating expenses, &c.,
$580,209. (V. 28, p. 351, 625; V. 29, p. 331, 670; V- 30, p. 93, 170.)
Difference
$341,337
St. Louis Alton d Terre Haute—Main line from Terre Haute, Ind., to
This is accounted for by the net increase in liabilities, which
East St. Louis, 189 miles; branches, 19 miles; leased line—Belleville <fc
amounts t<v
•
$§84,774
543,437
Southern Illinois Railroad, 56 miles: total operated, 264 miles.
This And the net increase in assets
company was a reorganization, Feb. 18, 1861, of the Terre Haute Alton
& St. Louis Railroad. The Belleville & Southern Illinois is leased to this Operations and earnings for five years past were as follows:
Net
Gross
Passenger
company for 999 years from Oct. 1, 1866. The main line (St. L. Alton
Freight (ton)
Earnings.
Earnings.
Mileage.
& Terre Haute) was leased June 1,1867, for 99 years to the Indianapolis Years.
Mileage.
Miles.
124,607,476 $3,812,016 $1,508,830
& St. Louis Railroad at a rental of 30 per cent of the gross earnings up
25,320,188
684
1,808,595
4,002,045
138,134,513
to $2,000,000, 25 per cent on the next $1,000,000, and 20 per cent on 1876
29,158,141
684
2,131,901
4,500,422
162.298.859
all over $3,000,000; but it was agreed that in no year should the rental
33,403,029
684
1,945,955
4,514,321
170.988.859
be less than $450,000. The lease was guaranteed by three other com¬
32,396,103
684
2,300,555
5,292,611
panies (See V. 26, p. 614 and 654). The lease was unprofitable and tie 1879
solvent guarantors refused to pay more than one-third of the deficiency,
(V. 28, p. 43,173, 302, 3*5; V. 29, p. 18 ; V. 30, p. 193, 249.)
-and resort was had to litigation, which is still pending. In 1879-80 the

Rock Island d Peoria.—Rock
is the Peoria & Rock Island,

Island, Ill., to Peoria, Ill., 91 miles. This
sold in foreclosure of the first mortgage

company

recovered from the former

Tilden, Butler, Sage and Bayard, $400,000 for
the time of reorganization. The Belleville Branch

a

was a

on

new

on

as

were

one

on

a




.

50

RAILROAD
a

AND

BONDS.

great favor by giving immediate notice of any error discovered in
these Tables.

DESCRIPTION.
For

,

explanation of column headings, &c.,
on first
page of tables.

St. Louis Keokuk d• North western
1st mortgage
Income bonds
SL L.d. S.Francisco.—1st M.
(So.

2d mortgage bonds, A..
do
do
B, gold
do
do
C, gold
Land debentures

-

New mortgage, gold
St. Louis d Southeastern—1st M.,

Miles
Date
Size, or
of
of
Par
Road. Bonds Value.

see notes

Stock

90
90

gold.

g.,

(I’d grant)

293

84
210
420

conv. s. rimd

Consolidated mortgage, gold, sinking fund

St. Louis Vandalia d• Tert'e Haute—1st M. s. f.
guar
2d mort., sink, fund ($1,600,000
guar.)
St. Paul d Duluth—Preferred 7
per cent stock
Common stock
St. Paul Minneapolis & Manitoba—Stock
1st mortgage, St. Paul to St. A
2d M., and 1st, St. Paul to Watab
Land grant sinking fund 1st mort.,
gold
2d mort.,
gold
St. Paul d Sioux City—Pref. stock.
Common stock
New mortgage, gold (for $7,000,000)
Omaha & No.Nebraska, 1st mort.,
gold, land gr’nt
St. Paul Stillwater & Taylors’ Falls, 1st mort.
do
do
do
Income bonds.

158
158
156
156
10
76
667
667

,..

1868
1876
1876
1876
1874
1879

1st

mortgage,

1862

116
116
94

,

1874-965.,

1.000

1862

1,000

1879

100 &c.

1879

....

•

...

•

•

•

....

1879
1871

1,000
1,000
....

15,000,000
120,000
366,000
8,000,000
8,000,000
4,600,000
4,600,000
2,860,000
618,000

50

....

1869

4,823,800
4,055,400

450,000
101,520

....

•

1,000

St. Louis Keokuk d
Northwestern.—Keokuk, la., to
miles. The Mississippi Valley & Western Railroad

Clarksville, Mo., 90
was sold April 14,
1875, and this company organized July 1, 1875, the date of
thp opening
of the road.
Income bonds above were
first mortgage bonds, but by agreement originally a part of $2,750,000
they were changed into their
present form. Gross earnings for ten months
ending December 31,1878,
were $170,356 and net
earnings $28,014.
St. Louis d 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
1876, as successor to the Atlantic & Pacific Railroad. The latter 20,
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
(Atlantic & Pacific) the second mortgage bonds, class
B, are receivable
in payment.
The stock authorized is $4,500,000 of first
preferred,
$10,000,000 of preferred and $10,500,000 of common. The interest on
bonds “B” aud“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

Payable

1,899,000
2,600,000

■

....

When

Cent.

1,100,000
3,250,000
5,145,000

1,000
1,000

—

Rate per

1,620,000
1,130,000
7,194.500
318,500
2,687,500
2,286,000
350,000

500 &c.

....

INTEREST OR DIVIDENDS.
Where

Payable, and by

Stocks—Last
Dividend.

Whom.

$3,645,000

1,000
1,000

1868

....

new

San Francisco d North Pacific- Stock

....

’69-71
1872
1867

•

Outstanding

500 &c.
100 &c.
500 &c.
500 &c.

465
465
465
47
23

Amount

$....
1,000
1,000

-

Pac.),

[Vol. XXX.

1,050,356
2,301,000
3,750,000

....

....

....

6 g.
6
3 &c.

3 &c.
10
6 g.
7 g.
7 g.
7

7

&
M. &
M. &
M. &

N.
N.
N.

Q-J.

.

.

N. Y., Trask & Stone.
do
do
do
*
do
do
do
do
do
do
do
N. Y., G. Opdyke & Co.
do
do
N. Y., Third Nat. Bank.
do
do

July, 1888

Nov. 1, 1906
Nov. 1, 1906
Nov. 1, 1906
Jan. 1. 1884

Aug. 1, 1919
Nov., 1894
Aug., 1902
Jail. 1. 1897

May 1, 1898

....

M.
J.
J.
A.

& S.
& J.

N.Y., J.S. Kennedy& Co.

do
do
& J. New York and London.
& O.
do
do
New York.
Q-F.

•

1881
1892
1909
Oct. 1, 1909
Feb. 18, 1880

.....

A. & 0. N. Y., Metropol. N. Bk.
J. & J.
N. Y., Kountze Bros.

April 1, 1919
Jan., 1901

July 1, 1901

....

2

7

1, 1906

....

1*2
6 g.
7-30 g.
8

J.

F. & A.
M. & N.
F. & A.
J, & J.
M. & N.

....

....

_

J.

....

8
7
7 g.
6 g-

Jan.

-

....

-

J.

1st N.
& J. N. Y.,
-

-

*

■

Subscribers will confer

STOCKS

Bk., Sandusky, 0.

Union

Trust Co.

Oct. 1, 1875

July, 1902

j

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. W. R.
McKeen, President, Terre Haute, Ind.
Operations and earnings for five years

Years.

Miles.
158
158
158
158
158

past were

Passenger

Mileage.
15,891,779
16,180,710
14,827,425
13,092,370

Freight (ton)

Mileage.

40,063,114
45,972,258
50,618,136
58,722,821

as

follows:

Gross "

Earnings.
$996,803

Net *

Earnings.

1,062,075
1,052,208
1,059,443

$176,444
247,393
207,067
158,685
294,272

1,244,643
-(V. 28, p. 19; Y. 30, p. 116.)
St. Paul d Duluth.—Line of
road, St.
miles; Stillwater & St. Paul Railroad Paul, Minn., to Duluth. Minn., 156
(leased), 13 miles; total, 156 miles.
This was the Lake
Superior &
1870, and leased to the Northern Mississippi Railroad, opened August 1,
Pacific. Default made
January 1,1875,
and road sold in foreclosure
The preferred stock is receivedMay 1,1877, and reorganized June 27th.
in payment for lands at
par. The com¬
pany has a land grant, of which about
1,280,000 acres remain unsold.

In 1879 gross
earnings were $560,041; net earnings,
stract or the last annual
report was given in V.

$165,347.

An ab

29, p. 118. The road
reported to have passed into the control of the
Chicago & North¬
western. (V. 29, p. 68, 118,
436; Y. 30, p. 58.)
was

St. Paul Minneapolis
earnings in 1878 were
net,
$603,517, against $739,136 in 1877. Gross earnings$1,201,651; were of the St. Paul & Pacific<6 Manitoba.—This company was organized out
in 1879
$1,653,843. On January 31, 1880, an agreement was made with the Pacific Railroad and theRailroad, the First Division of the St. Paul &
Red River & Manitoba Railroad—565
Atchison Topeka & Santa Fe for construction
miles of
of a
road, from
through line to line from St. Paul and Minneapolis to Manitoba boundary line, and a
the Pacific coast on the parallel from
Alexandria to Winnepeg, 90 miles, and from
Albuquerque, on the Rio Grande,
to San Francisco.
Fisher’s Landing
The road is to cost $25,000,000, and to be known to Grand Forks, 12
miles, making 677 miles in all. The
as the Atlantic & Pacific
Railway. Three trustees—John A. Stewart, 2,000,000, acres of land as successor to the roads above company takes
of the U. 8. Trust
named, which
Company, Warren Sawyer and H. P. Kidder, of Boston were foreclosed. The small amount of the two
—are appointed to hold the stock
mortgages first above
in trust. The voting power is to be named, about
$486,000, is all that remains of the old bonds, and the new
vested in six directors of each road. The
old companies are to preserve land-grant mortgage is
practically a first lien on the whole property at
their separate organizations, and the
gains of traffic on the extension are $12,000 per mile. The proceeds of land sales are
reserved by the first
to be divided in equal
proportions. The two companies divide the issue of mortgage trustees as a sinking fund for the
bonds ($25,000,000). The cost of the first
redemption of the bonds at
or under 105 and interest.
division will be about $12,500,The second mortgage bonds do not cover
000. Stockholders in the Atch. & Santa
the
Fe and St. L. & S. F. companies laud. The company' was organized
May 23,1879, under the charter of
will have the right to subscribe for
a 6 per cent bond at
par, receiving the St. Paul & Pacific Railroad. Gross earnings last six months
therewith a $500 or $750, as
1879,
may be determined, 6 per cent income $1,361,944, against $928,306. (See
Chronicle, V. 29, p. 226, 513;
bond. The Atlantic & Pacific
Company will reserve the right to take V. 28, p. 200, 454, 490, 555, 580, 616; V. 29, p. 147,
from subscribers, before 40
226, 331,460,
per cent of the subscription has been paid, 483, 513, 658; V. 30, p. 67,
209.)
>
the first mortgage bond,
paying back the subscriptions advanced with
St. Paul d Sioux City.—This was a
interest, thus leaving with subscribers an income bond
consolidation in August, 1879, of the
costing nothing.
Each company agrees to furnish
one-half of this amount, and in addition St. Paul & Sioux City' and the Sioux City <fc St. Paul,
forming a main
to its share of bonds receives also
line from St. Paul to Sioux
a bonus in stock.
City, 270 miles. With extensions in progress,
(V. 28, p. 253,
.

454, 495, 527, 555; V. 29,
191.)

V. 30, p. 67, 143,

p.

145, 331, 383,436,460,539,583,630;

the company was to have within

a short time 460 miles of
road, with a
or $10,000 per mile. All the old securi¬
ties of both roads were retired with the new
stock and bonds.
In
November, 1879, an agreement was made for the consolidation of a
part
of this company’s roads with the Omaha
& Northern Nebraska Railroad,
as the “ St. Paul Sioux
City & Nebraska Railroad.” The line to begin at

single mortgage of $4,600,000,

St. Louis d Southeastern.—Line
of
road—East St.
Evansville, Ind., 160 miles; branches to Shawneetown, Louis, Ill., to
Ill., 41 miles,
and to O’Fallon, Ill., 6
miles; total, 208 miles. The whole consolidated
line, June 1, 1872, embraced the Evansville Henderson & Nashville
and Omaha, running through the Missouri
the Edgefield &
Kentucky Railroads, 353 miles in all. Capital stock, with about 40 miles to be built, making Valley towards Sioux City, and
a line from St. Paul to Omaha.
$4,866,250 common and $5,974,850 preferred.
Default was made in (See Chronicle, V. 29, p. 226, 303, 331, 513.) The St. Paul
1873 and receiver appointed Nov. 1, 1874.
Stillwater
The Tennessee Division was & Taylor’s Falls was consolidated with
this
sold April 9,1879, and
purchased in the interest of the Louisville & Nash¬ also the Worthington Sioux Falls & Iowa and company (V. 29, p. 423);
Minnesota & Black Hills.
ville, and the Kentucky Division sold July
19,1879, to the same com¬ New stock to cover these acquisitions was to be issued at $10,000
pany. The St. Louis Division went under the control
per
of the Nashville mile, or over $2,000,000 in all. The St. Paul Stillwater &
Chattanooga & St. Louis, and was leased to that
Taylor’s Falls
company at $300,000 (St. Paul, Minn., to Stillwater, Minn., 70*2 miles and 6*4 miles branches
per 3'car pending foreclosure (see
Chronicle, V. 29, p. 631, 632; V. 30, had capital stock, common, $207,000; preferred,
$83,900. Share for
p. 43). Net earnings in 1877-78, St. Louis
Division, $168,210; Ken¬ share of the common stock is exchanged for St. Paul & Sioux
tucky Division, $61,778; Tennessee Division,
City
stock. The company received from the State of
$42,569. (V. 28, p. 18,
Minnesota 44,246 acres
353, 378; V. 29, p. 42, 96, 303, 631, 632; V. 30,
of laud.
Three years’ coupons from the first
p. 43.)

St. Louis Vandalia d Terre
Haute.—From East St. Louis to Indiana
State line, 158 miles. Rood
opened
Terre Haute & Indianapolis Railroad July 1, 1870. It is leased to the
at a rental of 30 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
per cent of which, being rental, was
Add interest received on
city of Greenville bonds

$1,244,643

Thirty

Total income
The year’s charges
against this sum
Interest on first
mortgage bonds
Interest on second
mortgage bonds
Taxes.
General expenses

373,393
185
.

$373,578

were;

$13£,930
182,000
33,422
2,974—

351,327
surplus for the fiscal year of
$22,251
—which was applied to the
repayment of advances heretofore made to
this company' by the lessee,
leaving the balance to debit of profit and
loss, October 31, 1879, $320,734. The annual
report for 18/8-79 was
published in the Chronicle, V. 30, p. 116. The first
mortgage and
$1,000,000 of second mortgage bonds arc guaranteed
by the lessees and
also by the Pitts. Cin. & St.

leaving




a

Louis Railroad and the COL Chic. & I.
C. Co.
!

mortgage bonds were
funded into income bonds.
The St. Paul & Sioux City had lands
unsold January 1,1879, of 560,680 acres; the Sioux

City & St. Paul had
439,858 acres.. In January, 1880, 200,000 acres of land were sold to
English capitalists at $6 per acre. Full accounts of the consolidation
and negotiations of this con
the Chronicle as they tronsi
of this entire line witn the
Chicago St. Paul & Minneapol
negotiation, and H. H. Porter was elected President of the “ St. Paul
Omaha & Chicago” Railroad. (V. 28,
p. 171; V. 29, p. 226, 303, 331,
383, 436, 459, 483, 513, 539; V. 30, p. 118, 193, 223* 249.)

Sandusky Mansfield d Newark.—Line of road, Sandusky, O.,
ark, O., 116 miles. A consolidation of several roads in 1856. to New¬
‘Leased
February 13, 1869, to Central Ohio Railroad, for 17 y'ears 5 months from
July 1,1869, at a rental of $174,350, and the terms of lease
by Baltimore & Ohio Railroad. It is operated as Lake Erie guaranteed
division of
the Baltimore & Ohio system.
In 1878-79 the gross earnings were
$639,821, and net earnings, $189,114, against
$234,227 in 1877-78.
—(Vol. 29, p. 535.)
San Francisco d North Pacific.—San
Rafael, Ca}., to Clorerdale, Cal.,
78 miles, with a branch from Fulton, Cal., to
Guemevillc, Cal., 16 miles.
This is a consolidation of several
companies. In 1876-7 (no later infor¬
mation furnished) gross
earnings were $467,501 oa 72 miles oper¬
ated, and net earnings $247,398.

*

great favor by giving

Subscribers will confer a
DESCRIPTION.

<

first page

of tables.

Ill
101

bj' S. Car...

1st mortgage, Savannah & Charleston RR
Savannah Florida d West.—Consolidated 1st

bonds
Southern Georgia & Florida, 1st mortgage

inort .

& Gulf RR. mortgage

do

2d mortgage

do

.

Date
of

Road. Bonds

Savannah d Charleston—Stock
C. & S.., guar, by S. C
Funded int. bonds, S. & C. RR., guar,
Sav. Albany

Miles
of

M. (guar, by C.of G.)
Savannah d Memphis—1st mortgage
Schenectady d Duanesburg—1st M., guar. 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 d N.Ala.—1st

Seaboard d Roanoke—Stock

1st mortgage
Selma Rome & Dalton— 1st mortgage
2d mort., Alabama & Tenn. River RR
General mortgage for $5,000,000

Shamokin Valley d Pottsville—Stock
1st mortgage, gold, on road and lands
Sheboygan d Fond du Lac—1st mortgage

—

ioi
286
58
58
63
60

1868
1869

INTEREST OR DIVIDENDS.

Size, or

Amount

Par
Value.

1874-659

$1,000,000

500
500

500 &c.
r

^

300,000
464,000
200,000

w

....

2,423,000

1,000

11
98
98

1876
1879

500 &c.

1851

1,000

100 &c.
50

1,000

32
50
50

mortgage...r

1st mortgage, construction bonds
Sioux City d Dakota—Dakota. So., 1st
Sioux City & Pembina, 1st mortgage

M., coup., s. f.
,

Sioux City d Pacific—1st mortgage
2d mortgage (government subsidy)
Somerset— 1st mortgage, gold
South Carolina—Stock
let mortgage, sterling loan

78*2

50

500 &c.

1864
1871
1869

1,000

61*2

.

.

1878

23

1871

1868

1868

Various

Charleston.—Savannah, Ga., to Charleston, S. C., 106
miles; Ashley River branches, 5 miles; total, 111 miles.
Formerly the
Charleston <fe Savannah Railroad; reorganized in 1876 under present
name, and opened March, 1870.
Defaulted September, 1873, and
since operated by a receiver. A decree of sale has been made.
Cap
ital stock, $1,000,000.
C. P. Mitchell, President and Receiver, Char
Savannah &

leston, S. C.

Savannah Florida d Western .—Savannah, Ga., to Bainbridge, Ga., 237
miles; branches: to Live Oak, Fla., 49 miles; to East Albany, Ga.,
miles; other, 3 miles; total operated, 350 miles. This was a

58
consolida¬

Atlantic
made
appointed in March, 1877.
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

tion in 1865 of the Savannah Albany & Gulf Railroad and the
& Gulf under the latter name. The Atlantic & Gulf Companv
default January 1,1877, and receivers were
The road was sold in foreclosure of the second mortgage on

been made for several years.

Savannah Griffin d

(V. 29, p. 40, 250,

North A labama.—Griffin,

1,000,000

500 &c.
500 &c.

ioo

488, 608.)

Ga., to Carrollton, Ga.,

7
7
8
7
3
7 g.
7
8
7
4
7
7 g.
7
6
6
7 g.

850,000
874,500

200,000
558,000
300,000

100 &c.

1,000
1,000

3^2

241,000
3,000,000
869,450
1,994,000
750,000

500 &c.
100

1865
1874

53
105

242

.

7
7

210,000
838,500

i§7i

.

.*

2^2

1,299,600

100

5781
1st mortgage extension
Shenango d Alleghany—1st
Shore Line (Conn.)—Stock

28
78*2

500,000
576,050
1,300,000
290,000

1,629,000
1,628,020
450,000
5,819,275
1,482,666

1

5 g.

...

& N.

&
&
&
&
&
&

S.
J.
J.
O.
N.
A.

& J.
& J.
& O.
&
&
&
&
&
&
&
&
&
&
&
&

1889

July. 1897

A.

J.
D.
O.
0.
J.
S.
A.
D.
J.
J.
J.

1871

May,

1878 to ’88

London.

Chartered

as

New

$100,000 net per annum
s^1'1 in foreclosure and reorganized
1864. Operations and earnings for five

Passenger
Miles.
50
50
50*
50

Jan. 1.

1879
Y., Perkins, L.& Post
Nov. 1, 1888
do
do
May 1. 1889
do
do
July 1, 1891
N.Y.,Lancaster, B.& Co. May 1, 1890
Del. & Hud. Canal Co. Sept. 1, 1924
Jan., 1880
Philadelphia, Office.
N.Y., Winslow, L. & Co. Jan. 1, 1896
April 1, 1894
do
do
Phil.,Townsend,W.&Co. Nov. 1, 1879
Aug.. 1880
do
do
Jan. 1, 1872
New York, Office.
Jan. 1, 1864
do
do
do
do
April 1. 1887
Philadelphia,Treasurer. Feb., 1880
July, 1901
do
do
June. 1884
N. Y., (In default.)
October, 1896
do
do
N. Y., N.Bk. of Com’rce. April 1, 1889
N. H., Nat. N. H. Bank. J an. 5, 1889
Sept. 1. 1880
do
do
Feb. 1, 1894
New York.
June 1, 1908
do
Jan. 1, 1896
N. Y., Nat. Park Bank.
U.S. Treas., at maturity Jan. 1, 1898
July, 1891

& J.

past were as follows:

Years.

Sept. 1, 1899

Q.-F. Charleston,S.W.RR Bk
J.

1877

March 1,

Bk.

pany November 1,1870, at
Haven & New Loa’.on Railroad;
imder present lit e June 29,

years

Dividend.

N.

_

M. & N.
M. & N.

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

Stocks— Last

Whom.

& S. Charleston, 1st Nat.
New York.
& S.
do
& J,

& J.

pal, When Due.

Payable, and by

Payable

m

7
7
8 g.
0

500,000

14*2

28

1,666,000

Where

When

M.
M.
J.
J.

6
7
7
7
7
7

505,000
111,800
500,000

.100 &c.

^

Rate per
Cent.

Outstanding

1870
1874

80
80
100
100

discovered in these Tables.
Bond#—Princi¬

immediate notice of any error

$....
1853
1868
1869
1867

51

AND BONDS.

RAILROAD STOCKS

2£abch, 1880.]

on

•

Mileage.

10,264,523
9,684,933
8,213,330
7,870,049

Freight (ton)

Gross

Mileage. Earnings.
1,520,602 $409,971
1,473,634
379^571
1,265,575
342,374
317,978
1,363,500

Div.

Net

Earnings. c;p. c.

$127,786
108,083
49,869
101,539

6
6
6
6

6

-(V. 28, p. 40.)
Sioux City

d Dakota.—The

to Yank¬
Pembina, as
interest
Gross earnings in 1879, $184,170;
report said that the Chicago Mil¬

Dakota Southern (Sioux City; la.,

ton, Dakota, 61 miles,) was merged, with the Sioux City &
the Sioux City & Dakota, Nov. 1, 1879. Both lines built m same

applied to construction.
In February, 1880, a
St. Paul had bought this road.

and surplus

net, $46,305.
waukee &

(V. 28, p. 120; V. 29, p. 277;

V. 30, p. 168.)

Fremont,
Valley Railroad.
of the subsidized
Pacific roads, but the interest on first mortgage bonds has not been fully
Savannah d Memphis.—From Opelika, Ala., to Goodwater, Ala., 60 earned, and the United States Auditor of Railroad Accounts reports no
miles. Opened in 1874. Receiver appointed November, 1878, in fore¬ net earnings subject to the payment of 5 per cent to the United States.
closure suit.
Gross earnings for year ending June 30,1878, $49,071; For the year ending June 30,1879, the gross earnings were $353,329
and net earnings, $99,120. The capital stock is $2,068,400, of which
net earnings, $7,357. P. P. Dickenson ,r President, N. Y. City.
$169,000 is preferred, receiving a dividend of 7 per cent per annum.
Schenectady d Duanesburg.—From Quaker Street Junction, N. Y., to The balance sheet of the company June 30,1879, was as follows:
Assets.
Schenectady, N. Y., 14 miles. Formerly Schenectady <fc Susquehanna
L labilities.
Railroad, and was foreclosed in 1873; reorganized and leased in per¬ United States bonds... .$1,628,320 Road and equipment...$5,350,137
46,733
petuity to the Delaware & Hudson Canal Company. Lease rental, Interest on bonds
1,073,500 Material
Cash
42,185
$30,000 per year, paying 6 per cent on bonds. Stock, $100,500.
First mortgage bonds.. 1,628,000
5,000
Interest on bonds
50,115 Company’s bds. & stocks'
Accounts receivable....
7,184
Schuylkill Valley.—Port Carbon to Reevesdale. Pa., 11 miles; branches, Bills payable
5,000 Due from United States. 102,427
10 miles; total, 21 miles. It is an old road, and was leased to the Phila¬
Pay-rolls and vouchers.
33,856 Deficit or debit (balance
delphia & Reading Railroad from September 1,1861, at an annual rental Accounts payable
87,426
of 5 per cent on the stock. Operations are included in the Philadelphia
to income one-half)... 1,020,949
Capital stock
i
2,068,400

Operated in connection with Central Railroad of Georgia.
Capital stock, $812,678. In 1877-8 gross earnings were $52,465, and
net earnings, $20,709.
63 miles.

Sioux

City d Pacific.—Line

...

& Reading reports.
Scioto

Valley.—Columbus, O., to

Portsmouth, O., 100 miles. Road

opened in January, 1878, and the earnings for the year 1878 were favor¬
able on a new road. Gross earnings were $282,153; net earnings,
$125,877. In 1879 gross earnings were $317,822. E. T. Mithoff, Presi¬
dent, Columbus, O. (V. 27, p. 653; Y. 28, p. 525.)

.

Weldon, N. C.,
dividends for a
$200,000 is first
is second preferred. Net earnings in the year

Seaboard d Roanoke.—Line of road, Portsmouth, Va., to
80 miles. Road opened 1851. The company has paid
number of years. Of the stock, $1,055,400 is common,

preferred and $95,000
ending March, 1871, $188,355.

line. Suc¬
opened
of foreclosure obtained
March 24,1874. The line in Georgia (65 miles) was sold November, 1874,
and reorganized as Georgia Southern. The line in Alabama is still in
litigation. The company took a land grant by act of Congress June 3,
1856, of 481,920 acres. No late report of operations has been received.
The stock was $4,000,000, and cost of road put at $12,980,000. John
Selma Rome d Dalton.—From Selma, Ala., to Georgia State
to Alabama & Tennessee River Railroad. The road was
June 1, 1870. Defaulted in 1871, and decree
cessors

Tucker, Receiver, Selma, Ala.

Shamokin Valleu d Pottsville.—Line of road, Sunbury, Pa., to Mount
Carmel, Pa., 27 miles; branch to Lancaster Colliery, 4 miles; total, 31
miles. The road was leased February 27,1863, to the Northern Central
Railroad Company, with a guarantee of interest on the bonds and 6 per
cent per annum on the stocK. The
Chronicle with the reports of the
A. Scott, President, Philadelphia.

yearly reports will be found in the
Northern Central Railroad. Thomas

Sheboygan d Fond du Lac.—From -Sheboygan to Princeton, Wis., 79
Road opened in 1872. The company has been in default since
In May, 1879, thfe president issued a circular to the bondholders,
saying that the only way to get the road out of difficulty was to make an
extension of 58 miles, for which he proposed a surrender of old bonds
and issue of new on certain terms. (See V. 28, p. 467.) The gross earn¬
ings for year ending September 30,1878, were $99,154; net earnings,
$20,072. Stock is $1,400,500. A. G. Ruggles is President, Fond du
Lac, Wis.
miles.
1873.

of road from Sioux City, la., to

Neb., 107 miles; leased—Fremont Elkhorn & Missouri
51 miles; total line operated, 158 miles. This was one

Total

The company

$6,574,618
Total
has aland grant of about 60,000

374.)

$6,574,618
acres. (V.

27, p. 96, 253,

Anson, Me., 25 miles. An exten¬
Capital stock, $354,294. Gross
earnings, 1877-8, $20,853; operating expenses and taxes, $15,400, net
$5,453. Road is leased to Maine Central.
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. This company was one of the prosperous roads of
the South, but became embarrassed after 1873, and went into the hands
of a receiver in September, 1877, at the suit of 2d mortgage bondholders;
a large part of this mortgage was hypothecated at 50 cents on the dollar
to secure floating debt. A plan of reorganization to save foreclosure has
been made in 1880, which embraces the following points:—The April,
1880, and all preceding coupons on the Becond 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 noncnmulative seven per cent income bonds. The interest on the seoond
mortgage bonds is to be reduced to three per cent for the year beginning
April, 1880, four per cent for 1881, five per cent for 1882, six per cent
for 1883, and thereafter seven per cent; hut if the railroad earns enough
to pay more than this on the second mortgage bonds, it shall pay it up t#
seven per cent.
The principal of the secured floating debt fs 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 number of second
mortgage bonds (interest reduced as above) at eighty per cent of their
par value; the second mortgage bonds remaining to be canceled. An
adjudication is to be obtained declaring all second mortgage bonds valid.
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. Earnings for five years past
Somerset.—West Waterville, Me., to
7 miles to Solon proposed.

sion of

were as

m

%

follows;

Gross

Net

Earnings.
Earnings.
$1,229,302
$448^74
1,126,437
478,684
1,020,664
426,910
1,0U,861
;
409,305
Gross earnings October 1, 1878, to April 1,1879, were $649,358: oper¬
Short Line (Conn.)—line of road. New Haven, Conn., to New London, ating expenses, $310,000; net earnings, $339,358. (V. 28, p. 555, 586';
V. 29, p. 632; V. 30, p. 43.)
Ctam.j 50 miles. Leased to New York and New Haven Railroad Com¬
Shenango d Alleghany.—line of road, Shenango. Pa., to Brady’s Bend,
Pa., 95 miles; in operation, Shenango to Hilliard, Pa., 46 miles. The
road was leased to the Atlantic & Great Western, and “ rental trust ”
bonds were issued. The company made default in 1879. (See Y. 29, p.
408.) No late report of operations has been received.




Years.

Miles.
243
243
243
243

•

52

RAILROAD
Subscribers will confer

a

STOCKS

AND

BONDS.

great favor by giving immediate notice of any error discovered in these
Tables*

DESCRIPTION.
For

Miles

explanation of column headings, Ac.,
on

first page of tables.

see notes

of

242
242
....

Domestic bonds (K)
JSo. <t No. Alabama—1st M., endorsed by Alabama.
Sterling rnort., e. fund, guar, by L. & N
Southern Central (N. I J—1st mortgage
2d mort. gold ($400,000 end. by Lehigh V. RR.).
Funded coupon bonds
Southern Iowa <£ Cedar Rapids—1st mort., gold

Southern of Long Island—1st mortgage (S. Side)...
Southern Minnesota—1 st mortgage, construction...
South. Minnesota Extension, 1st
mortgage, guar.

Central of Minnesota, 1st mortgage.
South. Pac.{Cal.)— 1st mort.,gold.laud gr.,
cp.orreg
Southern Pennsylvania—1st mortgage, gold
Southwestern (Ga.)—Stock, guaranl’d 7 per annum
Company bonds, convertible into stock at par
Southwest. Pennsylvania—Stock
1st mortgage
Spartanburg <& Asheville— 1st mortgage, gold

Springfield d- Northeastern—Stock
Springfield <£• Northwestern—1st mortgage...
Spu y ten Duyvil d'■ Port Morris— Stock.

Slater Line d Sullivan—1st M., conv. (red’ble aft.’88)
Staten Island— 1st mortgage
-.

Sterling Mountain {N. F.)—1st mortgage
Stockton t£ Copperopolis—1 st mort., (guar, by C. P.)
.’

.

Date

of

Outstanding

1868
1872
1866
1868

$500

$1,051,500

....

183
183
114
114

1870

1,000

1873
18G9

1,000

....

1872

100 &c.

87
57
170
136
40
712
24
257
....

1877
1870
1807
1868
1878

•

30
20
20

....

500 &c.

Southern Iowa &

Rapids, Iowa.

Cedar

Rapids.—In progress.

100 Ac.

1865
1875

1,000
500 Ac.
50

Ottumwa to

Cedar

by the Southern Minnesota Railway Extension Company, which has

a

stock of $1,500,000, owned by this company, and bonds at the rate of
$9,000 per mile, guaranteed by the Southern Minnesota ; also ha^ a
land grant of about 180,000 acres. The Central Minnesota was
pur¬
chased in 1880. (See annual report, V. 28, p. 451.) There are
yet out

311,152, against $296,666 in 1877.
t220,000 old first mortgage 7s (pink), due 1884. Net earnings inp.383,
(Vol. 28,
451; V. 29, 1878,
452; V.
p.

•

5

Southern Pacific of California.—Rond projected and in
operation March
1880: San Francisco, Cal., to Soledad, 143 miles; Carnadero to Tres
Pinos, 18 miles; Soledad 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 divL
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 Branch
of the Central Pacific Railroad,
by which it reaches San Francisco
and the main line of Central Pacific. The Southern
Pacific is a con¬
solidation of date October 12, 1870, of the Southern Pacific, Santa Clara
& Pajaro Valley, California Southern and the San Francisco
& San Jose
railroads. The Southern Pacific Branch Railroad was
brought into the
consolidation August 19, 1873, and on December 18,
1874, the Los

Angeles & San Pedro Railroad

was

J.

A

J

J.
J.
F.
J.

A
A
A
A

J.
J.
A.
J.

400,000

merged in the consolidated

company.
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
Yuma it connects with the Southern Pacific Railroad of

Arizona,

an
year

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

A
A
A
A
A
A
M. A

A J. Charleston* New York.

405,000

....

Minnesota.—Line of road, Grand Crossing, Minn., to Flandreau, D. T., 306 miles; Mankato Division, Wells to Mankato, 40 miles;
total, 346 miles in March, 1880. Organized as Southern Minnesota and
opened December, 1870, Miss. River to Winnebago, 168 miles. Re¬
ceiver appointed November 23,1872. Road sold on foreclosure of second
mortgage February, 1877, and reorganized with this name. Capital
stock, $1,984,200, of which $1,252,000 were issued to holders of equip¬
ment bonds and $532,000 for interest on same. The land
grant was
about 370,000 acres. The extension of the road
westerly is carried on

193.)

7
7
75
3
7

1,000*000

100 fee.
100

Southern

p.

F. A A.

3*2

399,000

....

Southern of Long Lsland.—Bushwick to
Patckogue, L. I., 52 miles;
branches to Fresh Pond Junction, 2 miles; to Rockaway, 10 miles; to
Hempstead, 5 miles; total operated, 69 miles. This was first the South
Side Railroad of Long Island, which was foreclosed
September 16, 1874,
and reorganized as the Southern of Long Island. On
May 1,1876, it
was leased to the Long Island Railroad.
On June 3, 1879, the property
was again sold in foreclosure of the second
mortgage, and subject to the
above mortgage, and the company has been reorganized as the
Brooklyn
& Montauk Railroad. It is operated temporarily
by the Long Island
Railroad. (V. 28, p. 580; V. 29, p. 19, 96, 632.)

30,

7 g.

989,000
200J)00
300,000
350,000
500,000
4,125,000
1,000,000

/

7
7
76 g.
7 g-

625,000
3,892,300

100

Southern Central (N. T.)—Fairliaven, N. Y., to
Pennsylvania State
line, 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 and 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.)

& J.

J.

7 g.
rr

29,520,000

....

South d North Alabama.—Decatur, Ala., to Montgomery,
Ala., 183
miles, with a branch of 7 miles from Elmore to Wetumpka; the branch
was opened for traffic in June, 1878. The road is controlled and
operate^
by the Louisville & Nashville Railroad Company, which owns a majority
of the capital stock and till the second
mortgage bonds ($1,000,000).
These second mortgage bonds were issued to the Louisville A Nashville
Company in payment for advances. 500,000 acres of land in Alabama,
largely mineral, have been transferred to the L. A N. Company. Com¬
mon stock, $1,401,767; preferred stock,
$2,000,000. In 1878-9 gross
earnings were $873,190; operating expenses, $558,610; net, $314,586;
deficit to Louisville & Nashville Company, $100,285.

Stocks—Last
Dividend.

l.OOOJKM)

1,000

1878

....

Whom.

7
7 g.

1,500,000
750,000
3,332,000
1,200,000
579,000

....

1871

Payable, and by

7

600,000

443,120
1876

J.

Where

pal,When Due.

New York.
1878 to ’88
O.
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.
A. N. Y., Vermilye A Co.
Aug. 1, 1899
S.
do
do
Mar. 1, 1882
do
do
Sept., 1877
M. A N.
May 1, 1900
M. A S. N. Y., Gallatin Nat. B’k Mar. 1, 1887
J. A J. N Y., Company’s Office.
1888
J. A J.
do
do
July 1, 1908
Jan. 1, 1898
A. A 0. N. Y., C. P. Huntington. April
1, 1905
M. A S.
Mar. 1. 1900
J. A D. Savannah,Cent.RR. Ga. Dec. 20. 1879
Various
Macon.
1886
•-

440,125

.

7*2

6
7
7
^
6
8 g6 g.
7
7 g.
7

1,500,000

41
30
48
45
6
29
13

Payable

63,500
391,000
5,138,810

500 Ac.
1,000

....

When

Cent.

1,067,500

....

„

Rate per

1,206,500

•

....

....

....

•

Amount

500
100

....

1875

•

Bonds—Prfnci

INTEREST OR DIVIDENDS.

Size,

or
Par
Value.

Road. Bonds

JSouth Carolina—(Contintied) —
1st mortgage, dollar bonds (L)
2d mortgage (for $3,000,000)
Domestic bonds (I)

Summit BrancJi (Pa.)—Stock
1st mortgage bonds.

[Voi. xxx.

’

Aug. 1, 1903
Jan. 1, 1897

Feb. 1,
N.

N

Y.,-Union Trust Co.

1901

i,

1899

Jan.

New York.
Y., Central Pacific.

1885

January, 1905
Pniladeiphia A Boston. Aug. 16, 1876
Jan. 1, 1904
Boston, N. Y. A Piiila.

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 he
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, oil
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,

reorganized under present

name.

Capital stock,' $800,000.

1872, and

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*3 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.
Gross

Central stock.
earnings in 1877-8, $739,223; operating expenses and taxes, $438,996;
net, $300,227; rental paid by lessee, $352,631; loss to lessee, $52,404.

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, from which interest on bonds
was paid and 12 per cent dividends on stock.

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¬
ber, 1878. Capital stock, $1,000,000.
Springfield, d Northeastern.—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.

1877-8, $91,924, and net, $21,979.

Gross earnings,

Springfield, d Noi'thwestern.—Springfield, Ill., to Havana, Ill., 45 miles.
Opened in 1873. Road as projected is 150 miles to Rock Island, HI.
Company became involved, and was placed in the bands of a receiver.
Capital stock paid in was $180,000. In 1877-8 gross earnings were
$53,800 and net $3,493.
Spuyten Duyvel & Port Morris.—Road is 6 miles in length and connects
the New York Central A 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 A Erie Railroad, which was sold in fore¬

closure October 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
13 miles. Road was purchased by present owners in

Tottensville,
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. T.)—Road
Erie Railway to Lakeville 8 miles.

from Sterling Junction on the
Gross earnings, 1877-8, $17,820;

runs

independent but closely affiliated company, which during the past
expenses ana taxes, $16,132; net, $1,688. Capital stock, $80,000.
was built and operated to Casa
Grande, a distance of about 182*3 miles,
Stockton d Copperopolis.—Present company is a consolidation, made
and is since being
rapidly pushed to the vicinity of Tucson, about 65 November 17,1877, of the Stockton &
miles further east. The bonds above are in series
Copperopolis and the Stockton &
A, B, C and D, of Visalia. Line of
which A includes $15,000,000 and B, C and D each
Oakdale,
$5,000,000; there miles. Leased toroad, Stockton to Railroad Cal., with a branch of 12
Central Pacific
are also three other series, E and F of
Company for thirty years
$5,000,000 each, and G of
$6,000,000; these latter are to be issued for new construction. Land from December 30,1874. By the terms of the lease the lessee agrees to
grant Is 12,830 acres per mile, and proceeds of sales go to pay bonds. pay principal and interest of the bonds. Capital stock, $234,500. The
The total grant is estimated at
11,000,000 acres, of which 7,000,000 company previously made default July, 1874, and the $1,000,000 of
certain to road now built.
Besides these sales a sinking fund of old bonds were exchanged for the present issue guaranteed.
$100,000 per annum goes into operation in 1882. Stock paid in is
Summit Branch (Pa.)—This
$36,763,900. The Central Ji*eiflc Railroad Company has taken a lease Railroad, which extends from company operates the Lykens Valley
Millersburg, Pa., to Williamstown, and it
of the southern division of this road for a
period of not less than five has a small branch of its own to Summit Mines, 3* of a mile. Traffic is
years from January, 1880, and by the terms of the lease “if a railroad almost exclusively coal. Gross
earnings in 1878, $131,412; operating;
is not completed in five
years from that date, so that there is a connec¬
expenses, including rents, $118,440; net, $12,972.




v-1

Subscribers will confer a

great favor by giving

.Suspension Bridge d Brie

of

.

Road

of tables.

81
81
43
57
113
73

Terre Haute d Indianapolis—Stock
1st mortgage
f
Bonds ot 1873 (for $1,600,000)

106
444
444
444

>

Texas & Pacific—1st mort., gold, coup.($8,000 p.m.
2d mort., consol., gold, coup. ($17,000 p. in.)
Income aud land mort., reg. (7,600,000 acres)...
Lana scrip for interest on income mortgage
1st mortgage on Rio Grande Division

Detroit—1st mortgage

Troy d Boston—Stock
1st mortgage, consolidated
Convertible bonds
New mortgage bonds (for $1,000,000)
Troy Union—1st mortgage, guaranteed,
Tyrone d Clearfield— Stock
Ulster d Delaware—1st mortgage
2d mortgage income bonds.

Pacific—Stock.
mortgage, gold, on road and

Union
1st

..

1,000
1,000

1869
1873

1,000
1,000
1,000

1875
1S75
1880
1880
1852
1876

1,000
1,000

•

-

•

....

1,000
•

•

•

•

.

.

.

.

....

100

....

1874
.

1,000

1878

2^6

Troy City.

equipment.

1,042
1,038

1876

•

m

m

m

100

1866-9

1,000

Suspension Bridge d: Brie Junction.—East Buffalo Junction to Suspen¬
sion Bridge, 2314 miles. Road opened January, 1871. It is leased to
New York Lake Erie & Western Railroad Company at an annual rental
of $70,000, which just pays the interest on the bonds. The stock paid
up is $500,000.

1874-956

Dividend.

i;988;i50
800,000

J. & D
J. & D
A. & O

7

& J. New York &
M. & N.

Mav
Nov.
Oct.

F. & A. Troy, Company’s Office.
J. & J. N. Y., Nat. B’k of Com.
do
do
M. & S.
•

.

-

•

18.82
1, 1896
1.

1894
1882

•

....

50^762,300

1*2

>

7

3.906

....

7

0s
J.

6 g.

I

& J.

Jan. 1, 1880
1896 to 1899

New York and Boston.
do
do

Gross
Freight (toil)
Earnings.
Mileage.
14,217,234 . $1,183,313
1.564,625
28,006,762
2,043,453
43,369,881
2,331,310
51,022,434
2,136,143
50,723,818

Passenger

Mileage.

Miles.
320
325
415
444
444

2,'1880

1, 1905
July 1, *1906
Feb. 2, 1880

.

....

6

27,231,000

15, 1905

July, 1879

Philad’phia

3L2

Years.

Nov.
Feb.

do

do

5.

6 g.
7
7
7
7
2
7
7

650,000

Feb., 1880
June, 1887
Oct. 1, 1906

F. & A. New York, Co.’s Office. Aug. 1, 1905
M. & S. Pliila., N.York tfcLondon March 1, 1905
June 1, 1905
do
do
I. & D.
New York& Philad’phia Jan. 1, 1915
J uly.

6 g.
6 g.

1,609,000
1,384,000

N.Y.,Farmers L.& T.Co.

do
do

do
do

1893

7

1,050,000
3,552,000
7,548,000
6,994,000
1,695,000
7,090.000
239,500
125,000
265,000
1,511,737

N.Y., D L. & W. RR. Co.

J. & J.
A. & 0.

1,000,000
136,000
1,342,600

60

74

1.750,000
261,400

680,000

....

Stocks— Last

Whom.

-

7
2
7
7
7
7
4
7
7

2,004,000
270,000

500 &c.

pal, When Due.

Payable, and by

i

500^000

1875

When Where
■
Pavabh3

!

800,000

1875

,

Cent.

1,000^000

50

•

55
53
35

100
•

Rate peir

1,000'000

1875

600
54
54

Tioga It R.—1st mortgage
Consolidated mortgage
Extension bonds
Toledo Canada Southern d

1875
1867
1876

Amount

Outstanding

$500,000

$....

23
23

Junction—Stock

mortgage...'
Syracuse Binghampton d N. Y — Stock
2d mortgage (now first)
Consol, mortgage (guar. D. L. & W.)
Syracuse Chenango d New York—Funded debt.
Syracuse Geneva d Corning—1st mortgage
1st

Date Size, or
Par
of
Bondi Value.

Miles
8

first page

discovered in tbese Tables.
Ronds—Princi¬

immediate notice of any error

INTEREST OR DIVIDENDS

DESCRIPTION.4
on

53

AND BONDS.

STOCKS

RAILROAD

March, 1880. j

7,458,450
10,110,024
13,886,499
15,004,800
11,651,041

Net

Earnings.
$393,509
672,743
691,007
882,871
738,629-

New York.—From Geddes, N. Y., to Bing¬
Chartered as Syracuse & Binghampton and —(V. 29, p. 171, 299, 358, 564, 621, 632, 650; V. 30, p. 17, 43, 118.)
opened October 23, 1854; foreclosed and reorganized April 30, 1857
Tioga.—Arnot, Pa., to State line New York, 44 miles; branch, Bloss
and leased to Delaware Lackawanna & Western.
In the last year
burg, Pa., to Morris’ Run, Pa., 4 miles; leased, Elmira State Line Rail
reported—ending September 30,1878, the gross earnings were $610,532
road, State line New York to N. C. Railway Junction, 7 miles; total, 55
expenses, $385,908; net earnings, $224,624; interest on bonds, $141,
miles. The stock is $580,900. In 1878 gross earnings were $325,466
400 ; dividends (3 per cent), $201,520.
(V. 27, p. 568.)
and net earnings, $145,547; dividends paid, 8 per cent on stock. Net
Syracuse Chenango d New York.—Syracuse, N. Y., to Earlville, N. Y.
earnings have been as follows: In 1878, $145,547; 1877, $126,606;
43^2 miles. The Syracuse & Chenango Valley Railroad was sold in fore 1876, $107,775; 1875, $114,769. F. N. Drake, President, Corning, N. Y.
closure and a new company organized March 14r 1873, under the name
Toledo Canada Southern d Detroit.—Toledo, Ohio, to Detroit (G.
of Syracuse & Chenango Railroad. April 15, 1877, road was again sold
in foreclosure and present company organized, which also became T. Junction), Mich., 55 miles. Road opened September 1, 1873. In
>' embarrassed and
passed into the hands of Mr. James J. Belden, January, 1878 gross earnings were $364,046; operating expenses, $423,180;
1879, as receiver. Capital stock, $801,400. In 1877-8 gross earnings deficit, $59,434. The stock is $1,547,662. The bonds are in default.
were $80,581; net, $11,064.
Management controlled by Lake Shore parties. James Tillinghast,
(V. 28, p. 44.)
Syracuse Binghampton d
hampton, N. Y., 81 miles.

Syracuse Geneva d

Corning.—Corning; N. Y., to Geneva, N. Y., 57*4
and is leased to the
1878-9 gross earn¬

miles. This road was opened December 10, 1877,
Fall Brook Coal Company. Stock is $1,152,500. In

ings were $349,966; operating expenses,
rental paid by lessee, $108,033; profit to
629.)

$223,546; net, $126,420;

lessee, $18,387. (V. 29, p.

to Illinois State Line
114 miles. The road was
opened in 1852 (as Terre Haute & Richmond), 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. Earnings for five years
Tert'e Haute d Indianapolis.—From Indianapolis
80 miles, with coal branches, 34 miles; total,

1

Gross
Years.
1874-5
1875-6..,.:....
1876-7
1877-8

Miles.
...

114
114
114
114

Net

Earnings;

Earnings.

$1,092,007
1,076,965
1,026,028

$371,713
355,955

Div.
p. c.
10
10
6

i

President, Buffalo, N. Y.
Troy d Boston— From

V-

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 cars, $8,153.
Total charges, $226,526. Balance to surplus,
61,992.
The floating debt Sept. 30, 1879, was $380,648, against
Southern Vermont

Operations and earnings for five years

‘36,022 in 1878.

’ollows:

Passenger
Years.
1874-5.
1875-6.
1876-7.
1877-8.
1878-9.

Miles.
...

...

...

...

...

53
53

Mileage.
4,696,351
5,605,546

53

6,(560,492

53

6,492,660

53

Freight (ton)
Gross
Earnings.
Mileage.
6,724,679 $524,276
566,540
13,908,977
560,764
16,853,882
560,344
23,829,494
593,896

^ast were as

Net

Earnings.
$247,643
268,206
■

276,614
274,747
288,519

Div’d
p.

ct.
4
4
4
2

..

168.)
>y<
road in Troj City, extending-from Hoosick Street
Bridge to Troy & Greenbush RR., 214 miles. Owned jointly by several
1878-9.
roads. Capital stock, $30,000. Bonds were issued by the City of Troy,
Eleven months only.
-Road extends from Logansport, Ind., to and are guaranteed by the companies interested.
Terre Haute d Logansport.
_
thwesten
Rockville. Formerly Logansport Craw fordsville & Southwestern, which
Tyrone d Clearfield —East Tyrone, Pa., to Curwensville, Pa., 44 miles;
was sold in foreclosure
September 10, 1879, and reorganized under branches, l7 miles; total, 61 miles. It was foreclosed and reorganized
present name. Rockville extension of the Evansville &, Terre Haute September 28, 1866, and road completed in 1872. It was leased to the
Railroad, Rockville to Terre Haute, is operated under lease. Gross Pennsylvania Railroad in 1878; rental was $73,500. G. B. Roberts,
earnings in 1878, $206,466; operating expenses and taxes, $190,104;. President, Philadelphia, Pa.
net earnings, $16,362; rent of Rockville Branch, &c., $19,259; deficit,
Ulster d Delaware.—Rondout (Hudson River), N. Y., to Stamford, N. Y.,
$2,897. (V. 29, p. 252, 277, 459, 564.)
74 miles. This was the Rondoiit & Oswego in 1876; reorganized May
Texas d New Orleans (of 1874).—Houston, Tex., to Orange (Sabine 28,1872, as New York Kingston & Syracuse, and again, after foreclosure,
River), 108 miles. This was a reorganization, 1874, of the old Texas & May 1,1875, as Ulster & Delaware. The stock is $1,152,100. In 1877-8
New Orleans Railroad. It will soon be extended, completing an all-rail the gross earnings were $168,157; net earnings, $31,658. Thos. Cornell
route from New Orleans to Houston. The stock is $3,000,000. Gross is President, Rondout, N. Y.
earnings in 1878 were $220,137; net, $94,284. John T. Terry, Presi¬
Union Pacific Railway.—This was a consolidation, Jan. 4, 1880, of th«
...

...

...

*893,792

344,403

*366,666

-(V. 28, p. 119; V. 30, p.

8

Troy Union—A. small

*

dent, New York, N. Y.

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 December, 1879, with Jay Gould and
associates, the road is to be extended to El Paso on the Rio Grande,
about 640 miles, to meet the Southern Pacific of California, and the con¬
struction will be1 done by a construction company at $20,000 in bonds
and $20,000 in stock per mile of road, and the work completed by July
1,1882. (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.
Texas d

received 4,716,342
were also 1,000
certain foreign claim¬
lie adjacent to the
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
acts of Congress were 20 sections per mile in California and 40 sections
per mile in the Territories between Texas and California. The acts of
Congress in regard to this rood made conditions as to time of construc¬
tion, <fec., which have not apparently been fulfilled; but the main pro¬
vision for its completion before July 1, 1882, may be complied with.
The last annual report was published in the Chronicle of Sept. 20,
18Tft,on page 299. Operations and earnings for five years past were
From the State of Texas the company has already
of land, besides 135,360 acres disputed. There
certificates for 640,000 acres deposited in trust for
ants. The railroad lands in Texas, however, do not
line of the roads owning them. Of the land, 3,074,378

acres

as

fml
lows:




Railroad, the Kansas Pacific and Denver Pacific, mado
authority, as claimed, of the acts of Congress of July 1, 1862 and
July 2,1864. New stock was issued for the old stock of
three com*
Union Pacific
under

the

?anies,The their bonds remained unchanged. (See Chronicle, V. 1,034
but Union Pacific was from Omaha, Neb., to Ogden, Utah, 30, p.
18.)

Council Bluffs, 3 miles; Ogden to
total, 1,042 miles. The company,
under acts of Congress above-named, took a land grant of 12,800 acres
bonds estimated at a The interest and acres,
§er mile, of $27,236,512. total of 12,083,227principal of a
this loan is to
be paid according to the “ Thurman Act,” which requires 25 per cent
of the net earnings, after deducting 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 cent of net earnings. The effect of this bill, if applied to
the business of 1878 (the last year reported), would have been as follows:
miles; bridge and approaches to
Central Pacific Junction, 5 miles;

and subsidy in U,

.

Total surplus earnings
Less first mortgage interest

Leaving
Deduct 25 per cent

for account of

$7,744,686
1,684,940 .
$6,109,746
1,327,436
$4,582,309
- - f 186,985
$4>709,295
2,013,743 «
$2,755,654
-•

Government

Leaving for the company.
Add interest on investments.
Making the net income;....;
Interest and sinking funds
Balance applicable to dividends
—being 7&10 per cent on the coital stock.

1
;

54

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
on

Miles

headings, Ac.,

first page of tables.

see notes

Date
Size, or
of
of
Par
Road. Bonds Value.

Union Pacific—( Continued)—
2d mortgage (government
subsidy)
3d
do
on road (2d on
land), sinking fund.. 1,038
Land grant bonds on 10,764,947 acres
•..
Omaha bridge bds, st’g, (s.f. about $50,000
yrly).
Collateral and Trust bonds
Denver Pacific, 1st mortgage, gold, land
grant...
106
Kans. Pac.,cons. M..,g.(for
$30,000,000),cp.or rg.
do
1st M., g, cp., on 140m. west Dio. Riv.
140
do
1st mort., gold, 140th to 393d mile...
253
do
2d M.(to U.S.Gov.) on 394m.W. Mo.R.
394
do
st,394th to 639th m., l.g., 3,000,000 acs
245
do
1st mort., coup., (Leavenworth
34
Br.)..
do
427
do
do 2d land
do
do
do
100
2d mortgage (government
100
subsidy)
United N. J. UR. <6 Canal Companies—Stock
379
General mortgage, gold, coupon
United Co.’s mortgage, sinking fund,
registered,
do
sterling loan mortgage, sinking fun<
do
r
do
do
do
do
do
dollar loan, mortgage
Joint Co.’s mortgage, sterl’g, s. fd.
(£138,500)
do
plain bonds
do
do
do
N. J. RR. A T. Co., 3d loan due State of N. J.
....

....

....

....

....

....

•

•

•

•

....

....

....

....

....

•

1871
1871

•

....

....

....

1834-7

....

....

....

....

....

....

....

....

36*2

....

1862
1868

....

....

1870

$

ASSETS.

crued.'.
Bills payable

*

Cash

869,891

withheld
Accounts receivable...

* 555,953

Capital stock.."

939,302

Co.’s bonds and stock..
246,594
Other “
“
16,973,847
Bills receivable
54,979
U.
S.
transportation

3,382,824
1,179,021

Accounts payable
Dividends payable

$

Road and equipment ..119,758,664

..

36,762,300
.

9,062,038

8,676,979
2,395,138
1,313,880

Operating department.

138,811,589.

Land sales

.

Land cash & land notes
Land expenses
Balance,deficit or debit

140,359,386
4,565,387
_

to income account...
*

147,873,627

Including payments to be

t These securities (without

made

1,957,792
991,061

147,873,627

July 1,1879.

separating stocks from

bonds) were as
follows: Colorado Central, $4,023,389; Utah &
Northern, $1,253,777;
Utah Southern, $752,063; Omaha &
Republican Valley, $529,375; Utah
Central, $277,000; Utah Western, $12,058; Hastings & Grand
Island,
$106,985; Summit County Railroad, $60,000; Occidental & Oriental
Steamship Co., $133,810; sundry other stocks and
total, $7,534,243. Increase in 1878-79, $2,304,916. bonds, $385,785;
The account of the company with the United
States on June 30,1879,
was given as follows:
Transportation for the U. S., withheld in excess of the onehalf to be retained under act of
July 2,1864..‘...
$3,395,054
Due
the U. S.

*

on

account of 5 per cent of net earn¬

ings to June 30,1879

Due the U. S. on account of transportation
twelve
months ending June 30,1879,
requirement for

sinking fund

Due the

u.

S.

on

account of additional
payment

required to make 25 per cent of net earnings...
Total due the United States

on

all accounts

j

6
8

$2,444,428
538,505
97,530

3,080,463

Excess withheld by the United States
$314,591
This balance is on the
company’s charges for the mails, which for forty
one months were $876,354
in excess of the Post Office
Department
allowance. A suit is pending as to the mail
compensation.
The land department reports the
following sales since 1869:
Number of
Av. Price
Tears.
Acres.
per Acre.
Amount.
1869
$4 55*2
$586,808 29
1870
164,058*32
4 38*2
717,757 14
1871
206,605*97
3 85*2
795,557 53
1872
4 39
755,430 94
1873
5 55
983,030 33
1874
235,749*14
4 66
1,099,407 21
1875.......
111,965*55
3 66
4091916 10
1876
128,696*21
3 02
389,773 46
1877
69,015*87
4 98
343,768 02
1878
318,903*47
4 88
l,557j082 32
1879

7
8 g.
6
7 g.
6 g.
6 g.
6 g.
6
6 g.
7
7
7 g.

2,000,000
527,000

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
1,600,000
20,190,400
5,669,000
2,000,000
1,846,000

187956.

7 g6 g.
6

2*2
6
6
6
6
6
6
6
6
6
7
3
6

1,800,000
154,000
119,548

1,000

This company’s reports have not been
accompanied by a balance sheet,
but in the report or the U. S. Auditor of Railroad
Accounts, the following
is given as of June 30,1879:
LIABILITIES.

Outstanding

Rate per When Where
Cent.
Payable

....

.....

Utah Central—Stock
1st mortgage, gold

INTEREST OR DIVIDENDS.

Amount

$1,000 $27,236,512
15,292,000
6,299,000
2,121,000

1874
1867-9
1,000
187D
£200
1879
1,000
1869
1,000
1879
1,000
1865
1,000
1866
1,000
1865-7
1869
1,000
1866
1,000
50 Ac.
1866
1870
250 Ac.
1871
1,000
1866
1,000
’66-7-8
1,000
100
1871
1,000
1871
1871

....

United States bonds.
27,236,512
Interest qn U. S. bonds 18,421,087
Other bonded debt
50,404,000
Interest due and ac¬

[Vol. xxx.

1,700,000
866,000
5,000,000
100,000
1,500,000
1,000,000

gg.
g.

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

A
A
A
A
A
A
A
A

Bonds—Princi

Payable, and by
Whom.

pal,When Due.
Stocks—Last
Dividend.

.

U.S. Treas., at maturity.
S. New York and Boston.
O. New York and Boston.
O. London, L. A S. Fr. Bk.
J.
do
do
N. N. Y., Bk. of Commerce.
N.
do
do *
A.
do
do
D.
do
do

Mch. 1, 1894
1887

April,
July 1,
May 1,
May 1,
Aug. 1,
June 1,

Payable *2 by transportation.

M. A N.
M. A N.
M. A S.
J. A J.
M. A S.
M. A N.

1896
1908
1899
1919
1895
1896

1895 to ’97

N.
N.

Y., Lond. A Frankf’t. May 1, 1899
Y., Bk of Commerce. Jah 1, 1896
do
do
July 1, 1916
N. Y., Lond. A Frankft.
July 1, 1880
New York.
Sept., 1886
N. Y., Company’s Office. May 1, 1895
U.S. Treas., at maturity. 1896,’97, ’98
Q.-J. Phila. and N. Y. Offices. Jan. 10, 1880
M. A S.
Mch. 1, 1901
Philadelphia, Office.
A. A O.
do
do
Oct. 1, 1894
M. A S.
London.
Mch. 1, 1894
M. A 8.
do
Mch. 1, 1894
F. A A.
Philadelphia.
Feb. 1, 1888
....

g.

F. A A.
London.
F. A A.
Philadelphia Office.
J. A D.
Princeton, N. J.
M. A N.
Philadelphia Office.
A. A O. N. Y., B’k of Commerce.

g-

J.

Q.-J.

A J.

Salt Lake City.

1880
Feb. 1, 1883
Jan. 1, 1889
Nov. 1, 1889
Overdue.
12 p.c., 1878-9
Jan. 1, 1890

then

changed to “ Union Pacific, Eastern
“Kansas Pacific” on March 3,1869. TheDivision,” June 6,1863, and to
Pacific Railroad acts of 1862
and 1864 applied to this road,
and gave it a subsidy of $6,303,000 and a
land grant or about
6,000,000 acres. The lands mortgaged were put in
two trusts, 2,000,000 acres in the
first, from the first to the 380th mile
westward, covered by the first and second land
mortgages, and from sales
of these lands there are
$1,095,679 land notes held. The 3,000,000
acres in the second
grant, from the 380th mile westward, are covered,
by the Denver Division mortgage. The second land
grant mortgage,
with various other bonds, are taken
up with the general consolidated
mortgage of May 1,1879, which covers road and lands, and the trus¬
tees of that mortgage
hold the following securities for the protection of
the trust: Funding
mortgage bonds, $1,500,000; second land grants,
~1,400,000; Leavenworth Branch bonds, $108,000; income bonds,
3,151,700; Arkansas Valley bonds, $1,035,000;
bonds, $575,000; Denver Pacific bonds, $1,641,000; Solomon ARailroad
Denver
Boulder
Valley bonds, $468,000; Junction City & Fort Kearney bonds,
$820,000; Golden Boulder A Caribou bonds, $60,000;
total, $10,758,700.
In funding other bonds into the
consolidated mortgage, the old Kansas
Pacific securities are
exchanged at par, except as follows: The “ funding
mortgage” bonds get nothing for 5 over-due coupons; Leavenworth
branch and unstamped incomes at 50
per cent and
interest; stamped incomes at 30 per cent; second nothing for over-due
land grant at 50 per
cent. The interest on Denver Extension
bonds (sevens due May 1,
1899) was reduced to 6 per cent. Kansas Pacific
operations and earn¬
ings for four
Years.
1875....
1876....
1877....
1878....

years

'Miles.
..

..

..

..

672
672
672
672

past were

as

Passenger
Mileage.

19,292,049
18,232,525
18,936,167
22,173,135

follows:

Freight (ton)

Gross

Mileage.

Net

Earnings.

Earnings.
$1,572,881
1,217,982
1,367,777
1,198,662

72,119,554

71,540,034
85,393,211
140,013,144

$3,363,760
3,000,800
3,284,734

3,610,224

The Denver Pacific—Denver to
.Cheyenne, 106 miles—was built under
the charter of the Union
Pacific, E. D. (Kansas Pacific), and opened
January 1,1871. The Denver A Boulder Valley was opened under a 99
year lease from 1873. The company made
default, and a receiver was
appointed April 4,1878. The stock of $4,000,000 went into this consoli¬
dation January 24,1880, and the bonds are to
be retired with the con¬
solidated mortgage of the Kansas Pacific.
(V. 28, p. 18, 44, 69, 70,121.
147. 199, 252, 275, 328, 429, 453, 477,
495, 503, 555, 578, 599, 624;
V. 29, p. 67, 95, 196, 405, 434,
513,657; V. 30,
p.

169.)

17, 93, 118,163,

Union Pacific, Central Branch— From
Atchison, Kan., to Waterville,
Kan., 100 miles; and has an extension under the name of Atchison Colo¬
rado A Pacific jof 229 miles,
making 329 miles in all, and the bonds

of the extension are guaranteed
Central Branch was formerly the by U. P. company. The Union Pacific
Atchison A Pike’s Peak Railroad, and
was one of the roads embraced in
the act of Congress
incorporating the
Union Pacific Railroad. The stock is
$1,000,000, of whion the Union
Pacific holds about $900,000. The
company received a
subsidy of $1,600,000. Default on interest was made May Government
1,1873, but
no foreclosure took
place. In 1879 the earnings on 224 miles were
reported at $1,000,000; operating expenses,
$477,862; not earnings*
$522,138. (V. 28, p. 454, 477, 553; V. 29, p. 95,356;
Y. 30, p. 163,
221.)

United New Jersey d Canal Companies.—'Lines of
road, Now York to
Philadelphia and branches, 123 miles; Camden to
Amboy and branches*
152*2 miles; Trenton to Manunka Chunk and
branches, 103 miles; total
operated, 379 miles. Delaware A Raritan Canal, 66 miles. The United
New Jersey Railroad A Canal
243,337*43
4 14i10
Companies were leased in May, 1871, to
1,007,855 63
Pennsylvania Railroad for 199 years, at a rental of 10 per oent on the
the
stock, besides interest on bonds. The smaller leased roads were
1,956,349*41
$4 42
taken
$8,648,447 97 with their several contracts.
The Belvidere Delaware was leased to the
f Of the Union Pacific collateral trust
issued to Jan. 24,1880, and the issue bonds, $2,000,000 only had been Pennsylvania Railroad Mareh 7,1876, and since January 1,1877, has
is limited to 80 per cent of the been operated as the Belvidere Division
of United New Jersey Railroad
following bonds: Omaha A Republican Valley Railroad,
$850,000; system. The net earnings are paid over to the lessors in full as rental.
Colorado Central Railroad
bonds, $2,526,000; Utah Northern Railroad, The lease has not been profitable in cash
about $3,480,000; total, $6,856,000. The
receipts to the Pennsylvania
collateral trust bonds area Railroad, as the net loss in 1877 was
direct obligation of the Union Pacific
$1,482,518 and in 1878 $1,136,Company, and have as their security 775; but the connection with New York was indispensable to the Penn¬
the first mortgage bonds of the roads
named pledged with the trustees. sylvania Railroad, and it is
only a question whether it might not have
The excess of interest collected on
hypothecated bonds—say $22,000 per been secured at much less cosh Operations and
earnings for five years
year-forms a sinking fund to reduce the
past were as follows:
aamingB for five years past were as follows: principal. Operations and

Tears.
1875..
1876..
1877..
1878..
1879

Miles.

1,042
1,042
1,042
1,042

Passenger

Freight (ton)
Gross
Net
Div.
Mileage.
Mileage.
Earnings.
Earnings, p.ct
132,591,343 269,414,989 $11,993,832
$7,011,784 34
128,032,924 292,002,076
12,886,858
7,618,647 8
107,833,371 334,644,870
12,473,203
7,199,782 8
96,304,250 366,014,080 12,873,658
7,497,072 5*2
6

The Kansas Pacific extends from Kansas
City, Mo., to Denver, Col.,
638. miles, with Leavenworth Branch,
Lawrence to Leavenworth, 34
Sfilea, It was organized as “ Leavenworth Pawnee A Western”
in 1861




Years.

Miles.
293
293
373

373
373

Passenger
Mileage.

Freight (ton)

Gross
Mileage.
Earnings.
162,225,745 187,699,616 $9,711,284
302,188,535 190,635,678 11,824,133
143,132,968 256,134,099
8,960,697
139,245,413 255,027,095
8,398,534
146,914,158 332,298,977
9,784,843
.

Net

Earnings,

$3,275,807
5,074,017
2,694,480
2,895,592
3,283,981

Div.
p. ct*

10
10
10
10
10

,

Utah Central—From Ogden, Utah, to Salt Lake
City, Utah* 36*2 miles.
For the year ending April 30,1879,
gross earnings were $392,524; opera¬
ting expenses (43*01 per cent), $168,798;'net

interest, $62,290; dividends

on

stock, $180,000.

earnings, $223,725:

-

RAILROAD

March, 1880. j
Subscribers will confer a

55

STOCKS AND BONDS

great favor by giving

immediate notice of any error discovered in

these Tables.
Bonds—Princi¬

INTEREST OR DIVIDENDS.

DESCRIPTION.

explanation of column headings, &c., see
on first page of tables.

For

■

notes

Date Size, or
Miles
Par
of
of
Road. Bonds Value.

Amount

Outstanding

Rate per
Cent.

When

Where

pal,When Due.

Payable, and by
Whom.

Payable

Niocfcs—Last
Dividend.

*

\

Utah Northern.—1st mfvrfgage
Utah d: Pleasant Yallei/—1 st;'mortgage,
Utah SouLhei'n—1st mortgage, coupon

gold

Utah Western—1st mortgage

Utica, d: Black River—Stock
1st mortgage bonds of July,

1868

•

—...

.

36
98
31
11
73

Ronds,

73

consolidated

....

mortgage, consolidated. T
Equipment loans
Stanstead, S. St. Chainbly bonds
Income and extension bonds (to pay float’g debt).
Vermont d Massachusetts—Stock
1st mortgage (sinking fund $7,000 per year)
2d

Convertible bonds

Vicksburg d Meridian—1st series (red
2d series (blue endorsed)
.'
3d
do (black endorsed)
4th do (not endorsed)
Special loan, funding mortgage
Virginia d Trucker,—STock .71.7.

1879
1871

500
1866 100
100
1866
1866-9 500
100
1867

1872

140

endorsed) —

140

140
140

1865
1872
1866
1866
1866
1866
1871

&c.
&c.
&c.

&c.
&c.

1,000
100
100 &c.

1,000
500 &c.

1,000
1,000
100 &c.
100 &c.

54
54

Bonds

foreclosure March
May 1, 1878. Stock,
f2,520,000. Theending April 30,1879, gross earnings were $193,128 ;
or nine months road is mainly owned and
net, $62,069, on an average mileage of lll^ miles.
Utah <£ Pleasant Talley.—Line of road Provo, Utalf to Pleasant Val¬
ley, Utah, 60 miles. Road opened in 1879. Stock, $750,000. Bonds sold
in New York at 90 in February, 1880. (V. 29, p. 539; V. 30, p. 163.)
Transferred to present company

1878.

28,

Utah

built by the Union Pacific.

Southern.—Salt Lake City to

$1,125,000; gross earnings in
Bonded interest, $105,000.

Boston,Nat.Bk.of Redm July 1, 1891

7
7
7
8
7
8
3
6
7
7
7
7
7
8
1

& J.

Boston, Globe Nat. Bk. Jan. 1, 1891
Boston,Nat.Bk of Redm Nov. 1. 1886

1874-596

-

....

M. & S.
J. & J.
J. & J.

M. & N.

J.
J.
J.
M.
J.
M.
J.
M.
A.
J.
J.
J.
J.
J.
A.
J.

Utica.

Utica and New York.
do
do. N.

Y., D. L. & W. RR.

N. Y., D. L. &W.
& D. Boston, E. Blake &

&
&
&
&
&
&
&
&
&
&
&
&
&

N.

-

May 1. 1879
1880

Co.

do
do
do
do
N.
do
do
J.
do
do
N.
O.
Boston, Office.
do
do
J.
do
do
J.
J. Phila,. Girard Nat. B’k.
do
do
J.
do
do
J.
do
do
O.
do
do
J.

D.

1904

July 1. 1891
July 1,1894.
(?)
July, 1878
Julv, 1891

June 1,

1872

1891
1876 to 1889
Jan. 1, 1887
1902
Oct. 7, 1879

July 1, 1883
July 1, 1885
Jan. 1, 1890
Jan. 1, 1890
Jan. 1, 1890
Jan. 1, 1890
1880

M’nthly

i;ioi,ooo

Idaho Ter.

Utah d Northern — From Ogden, Utah, north into
miles finished hy January 1,1880. Road was sold in

& J.

(?)
500,000
3,000,000
1,500,000
1,500,000
444,100
1,508,600
2,860,000
550,000
150,000
703,500
850,000
145,000
1,180,600
217,400
6,000,000

500 &c.

*80
77

8

*

500,000
4,000,000
800,000
750,000
3,000,000

100

; i87i

guaranteed by Vermont Central

1,500,000

1,500,000
720,000
1,771,720
200,000
912.000

....

July 1, 1908

J. & J.
M. & N.
J. & J.

900.000

1868
1871

87

New York.
New York Office.
N. Y., Kountze Bros.

7
7
7
7
2
7
7
7
3
7
4
4

$2,520,000

$....
1,000
1,000
100

168
75

Black River & Morristown, 1st mortgage
Utica Chenango d Susquehanna Valley—\Stock
Utica Clinton d Binghamton—1st mortgage
Talleu CT V J— Stock
Termont d Canada—Stock

Mortgage bonds
Missisquoi Railroad bonds
Vermont Central— 1st mortgage,

1878
1879
1871
1874

210
62
75

....

York, Utah, 75 miles.

1878, $247,725; net earnings,

Stock,

$117,534.

Utah Western.—Salt Lake City, U. T., to Stockton, U. T., 40 miles.
Opened January, 1875. Default was made January 1, 1878, and the
road is held by trustees for the bondholders. No report of earnings.
LeGrand Young is President, Salt Lake City. E. F. Bishop, Bridgeport,
Conn., and R. M. Bassett are trustees for the bondholders.

Binghamton.—Utica, N. Y., to Smith’s Valley, N. Y.,
June 22, 1872, and leased to New York & Oswego
Midland Railroad. The lease was transferred to the Delaware & Hudson
Canal Co., which pays the rental of $75,000 per annum. The road is
operated by the Delaware Lackawanna & Western. Gross earnings in
1877-78, $69,873; net earnings, $11,999.
O. S. Williams, President,
Utica Clinton d
31 miles. Opened

Clinton, N. Y.

Talley (N. T.) Railroad.—Binghamton, N. Y., to State line of Penn¬
sylvania, 12 miles. Opened October, 1871. Leased to Delaware Lacka¬
& Western. Gross earnings in 1878, $141,792; net earnings,

wanna

$62,227.

Dividends paid, $60,000. Moses Taylor,

President, New York

City

Termont d Canada.—Essex Junction, Vt., to Rouse’s Point, Vt., 47
miles; branches—Essex, Vt., to 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 and

operated, and the bonds of 1871 were guaranteed by the Vermont
In 1879 the stockholders voted an issue of $500,000 new
Central.
bonds to take up

those guaranteed bonds.

information is obtainable.

No satisfactory report or

Bradley Barlow, President, St.

Albans, Vt

Utica d Black River.—Main line, Utica, N. Y., to Philadelphia, N. Y.,
87 miles; leased lines to Morristown, N. Y., to Ogdensburg, to
Harbor and to Clayton, 93 miles in all; total operated, 180 miles. The

—(V. 29, p. 452.)

condensed:

plicated and vexatious litigation than any railroad in New England.
Poor'8 Railroad Manual of 1879 gives the following account of it:
This company (Central Vermont) was chartered under its present title,
November 2, 1872.
The Vermont Central Railroad Company was
chartered October 31, 1843, and the road opened to Burlington
December 31, 1849.
August 24, 1849, it leased the Vermont &

Sackett’s
company has paid its rentals and moderate dividends for a number
of years. The general account, September 30,1879, was as follows,

$1,771,720

Stock per mile
Bonds per mile.

1,112,000
57,808

Sundry accounts and balances

168,955

Surplus fund

$3,110,484

v

Total
Road and equipment
Leased lines, stocks, bonds

and advances

Sundry accounts

$2,797,638
293,007

6,359

13,478— $3,110,484

Cash.

construction and equipment on the line owned
charges up to the close of
leased were $232,164, of which
$79,437 have been repaid by sale of bonds, leaving $152,726 due
operating account. The Ogdensburg & Morristown road cost $111,574,
the Ogdensburg subscription was $6,347, and stock subscribed by this
company $111,800, so that there is a balance of $6,573 on hand. The
Expenditures for new

last year $21,300. Total construction
the year on account of lines owned and

were

income account was as

follows:

$239,292
16,346

Net earnings

Rents, interest and

premium—

- -1
$255,638
$77,840
66,239

Total
Interest
Rentals

70,832— 214,911

Dividends, 4 per cent

$40,727

Balance, surplus
Add surplus, Sept. 30,1877

128,228

$168,955
by advances to leased lines. It was
of it to meet emergencies, instead of
increasing dividend. There were carried last year 103,560 tons of freight,
an increase of 2,783 tons, or 2-8 per cent.
The chief increase was in
gTain and stock; there was a slight decrease in lumber and but little
change in other articles. Business was light, on account of general
depression. The Ogdensburg extension is doing well, and promises to
"be
good investment. Operations and earnings for five years past were
Surplus, Sept. 30,1878

>

The surplus is chiefly represented
deemed best to retain the cash part

a

as

follows:

Years.
1874-5..
1875-6..
1876-7..
1877-8..
1878-9..

Miles.
148
170
170
170

...

...

...

...

5,294,353
5,150,374
5,065,167
5,205,965

5,336,245
5,266,280

—(V. 28, p. 96; V. 29, p.
Utica

Freight (ton)
Gross
Mileage.
Earnings.

Passenger
Mileage.
5,593,083
5,792,703
t

■

$484,856
481,673
453,576
453,145

477,183

Net
Div.
Earnings, p. ct.
$233,195 6
194,301 6
220,261 6 *
239,292 4
2
186,652

536.)

Chenango d Susquehanna

Talley.—Line of road, Utica, N. Y., to

Green, N. Y., 76 miles; branch to Richfield Springs. 22 miles; total, 98
miles. Road opened October, 1872. Leased to Delaware Lackawanna
A. Western at 6 per cent on stock. Has no bonded debt. Gross earnings,
1878, $396,696; net earnings, $139,010; dividend payments, $240,000;

deficit, $180,989.




Termont Central (or .Central Termont).—Windsor, Vt, to Rouse’s Point
Vt., 158 miles; branches and leased lines, 273 miles, included in the re¬
turns of the Vermont Central Company.
Other leased line, New Lon¬
don & Northern, 100 miles. This company has been through more com¬

**

Canada Railroad, then under construction, agreeing to pay an annual
rental of 8 per cent on its cost, and creating a mortgage on their own
road as security for such payment. This lease has been the subject
almost continual litigation since 1854. The Vermont Central Railroad

of
Company having defaulted on its interest and rental, the trustees under
the lease took possession of the road June 28,1852, and it has ever
since been operated by them under direction of the court.
On the first
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
per year, and in addition $40,500 a year for four years; $67,500 for two
years; $81,000 per year for six years, and $94,500 per year thereafter.
This contract was modified February 25,1876, as hereafter stated. In
September, 1861, a lease was also taken of the Sullivan County Rail¬
road of New Hampshire, at an annual rental of $25,000, but subse¬
quently modified so that the rental depends on earnings. About 1867
the managers of the Vermont Central Railroad purchased the Stanstead
Shefford & Chambly Railroad, extending from St. Johns, P. Q., 43 miles,
to Waterloo., P. Q., paying therefor $500,000 in bonds. They also took a
lease of the Missisquoi Railroad. The road from Canada Line to St.
Johns is also operated by this company, and is practically a portion of
it, though chartered by the Provincial Parliament under the title of Mon¬
treal & Vermont Junction Railroad Co. The Vermont & Canada Rail¬
road extends from Essex Junction to Rouse’s Point, with branches from
Essex to Burlington, and from Swanton to Canada line, in all 65 miles.
The 47 miles from Essex Junction to Rouse’s Point are included in the
mileage of the Central Vermont RR.” The road is managed by a board
of trustees appointed by the Chancery Court of Vermont. J. Gregory
Smith is President. In the two years, 1876-78, the gross earnings were
$4,076,702, and net earnings, $1,461,139. The foreclosure suit has been
pending a long time on the
Termont

d

second mortgage.

„

Massachusetts.—Line of road, Fitchburg to

Greenfield,

Falls*
section is
for fifteen years from December 1,1870, by the
Railroad; lease rental, $48,000
1880 and

Mass., 56 miles; branch, 3 miles; Vermont division from Miller’s
Mass., to Brattleboro, 21 miles; total, 80 miles. The road is leased to the.
Fitchburg RR. for 999 years at 6 per cent. The Vermont

operated under lease

in
afterwards.
Ticksburg d Meridian.—Line of road—Vicksburg to Meridian, Miss.
The company has been unable to earn full interest, but has paid so far as
earned. It has a land-grant of about 400,000 acres, of which about
200,000 have been certified, and about 40,000 acres sold.
Gross earnings. Net earnings.
$421,893
$107,072
478,372
175,981
411,685
105,829
430,428
123,364
329,175
70,314
Tirginia d Truckee.—Rem>, Nev., to Virginia, Nev., 52 miles; branch
line, Silver Junction^io Silver City, 2 miles; total, 54 miles. Road
opened November, 1869. Gross earnings in 1878 were $1,604,442: net,
$725,092; dividends paid, $750,000. D. O. Mills, President, San Fran¬

New London

Northern

$54,000 per year

cisco.

56

RAILROAD

Subscribers will confer

a

explanation of column headings, <5cc.,
on first page of tables.

Miles
see

nqtes

Wabash SL Louis <6 Pacific—Stock, common
Preferred stock, 7 per cent, (not cuumulative)
Wabash, 1st mort. (Toledo & Illinois)
do
1st mort. (Lake Erie, Wab. «fe St. L.)
do
1st mort. (Great Western of 1859)

342781

do
do
do
do
do
do
do
do
do
do

1st mort.

..

Date Size, or
of
Par
Road. Bonds Value.
of

1,550
1,550

22

1879

75
167
180

490
109
....

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

do 1st & 2d M.on St. Char.
Bridge,coup.or rg
do 1st l!., Omaha Div.,
gld, s. f., coup.or rg
do 1st mort., gold, Clarinda Branch
Toledo Peoria & Warsaw, 1st mortgage
do
do
1st income bonds
•
do
do
2d income bonds
Ware River— Stock (guaranteed)

do

1853
1853
1863
1865
1862
1858
1858
1859
1867
1869
1877
1879
1877
1879
1865
1874
1878
1879

29

2d mortgage (Toledo & Wabash)
2d mortgage (Wabash & Western)
2d mortgage (Great West, of 1859)
Consol. M., (on all but Dec. & E St.L.)..
1st mort., (Decatur &E. St. Louis)
Funded debt bds (sec.by dep’sit of coups.)
New M., gold, s. f. $25,000 after ’82

Warren (N.J.)—Stoca
2d mortgage
1st consol, mortgage
Wasatch & Jordan Valley— Gold bonds
Washington City & PI. Lookout— 1st M. gold bonds.
Washington City Va. Mid. <6 Gt. Southern—Stock...
1st mortgage, O.& A., and funded interest

100

146

(Quincy <fc Toledo)

O. & A.,

BONDS

[VOL. XXX.

....

1,000
1,000
1,000
500 &c.

1,000

1,000
1,000
1,000
1,000

1,000
1,000
1,000
1,000

....

18
18
18

1855
1870
1875

....

12

do

264,000

750,000

.

.

....

100

1855

3*2

3*2

750,000
600,000
884,000
540,000
2,692,539
525,070

.

.

og.

1,800,000

....

1873.
1871

310

.

V

....

.

7
7
7
7
500,000
’ 7
300,000
7
1,000,000
7
1,500,000
7
2,500,000
7
2,610,000
7
2,700,000
2,942,450 4 to 6 & 7
7 g.
1,000,000
7
620,000
7
500,000
7
6,000,000
7
2,993,000
7 g.
1,388,500
7 g.
2,350,000

4,500,000
1,900,000
1,000,000

100
.

....

-

100

When

....

.

250 &c.
100 &c.

227

49

Outstanding

Rate per
Cent.

20,000,000
900,000
2,500,000
2,495,000

1,000
1,000
1,000
1,000
1,000

Bond*—Princi¬
pal,When Due.
Where Payable, and by Stocks—Last
Payable
Whom.
Dividend.

INTEREST OR DIVIDENDS.

Amount

$100 $20,000,000

....

75
167
180
33

1st mort. (Illinois & Southern Iowa)

2d mortgage,

AND

great favor by giving Immediate notice of any error discovered In these
Tables.

DESCRIPTION.
Fo

STOCKS

7
7
7
6

-

F. & A. N.
F. & A.

6
6

•

• •

•

•

•

•

Y., Metropolitan B’k.
do

do

do

do

M.
F.
M.
M.
M.

do
do
do
do
do
do
do
do
do
do
do

do
do
do
do '
do
do
do
do
do
do
do

&
&
&
&
&

N.
A.
N.
N.
N.

Q.-F.

F.
F.
A.
J.
J.
J.

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

J.
A.
A.
M.
M.
J.

A.
A.
O.
J.
D.
J.
S.

O.
O.
D.

& J.
& O.
& O.
& S.
& N.
& D.

--

Aug. 1, 1890
Aug. 1, 1890

.F. & A.

•

1,657,652

•

Aug., 1888

Nov. 1, 1890

Aug. 1, 1882

Nov. 1. 1878
Nov. 1, 1878

.

May 1, 1893
Feb., 1907
Aug., 1889
Feb. 1, 1907
April 1, 1909

Jan., ’81
June 1,
N.Y., Nat Bk of Com’rce July 1,
do
do
sept. 1,
do
do
do

do
do
do

& ’82
1909
1895
1904

Oct. 1. 1908

April 1, 1919
Aug. 1, 1919

Boston, Bost.& Alb. RR. Jan. 1, 1880
N.Y., Del., L. & W. RR.
Oct., 1879
do
do

do
'
April 1, 1900
do
March 1, 1905
N. Y., Union Trust Co.
Baltimore, Balt.& O.RR.
1903
’

M. & N. Balt., R. Garrett & Sons
& J.
do
do

J.

.

Nov. 1, 1860
Jan. 1, 1875

«r
■„

Wabash St. Louis <£• Pacific—A consolidation of the Wahash
Railway
with the St. Louis Kansas City & Northern, November
1, 1879. A full
statement as to the consolidation was published in the Chronicle of

cent for 27 years. A
meeting of stockholders is called for May 5, 1880,
to act on very important matters. See V.
30, p. 249. (V. 28, p. 200,
224, 253, 275, 299, 350, 354,402,429,495, 554, 600,617; V. 29,
p.
19, 42, 86, 121, 147, 171, 226, 278, 408, 460, 513, 553; V.
30, p. 118,

January 31,1880 (V. 30, p. 118), from which the following is taken: At
Decatur, Ill., a part of the Wabash Division extends westerly to Hanni¬
bal, Keokuk, and Quincy, on the Mississippi River. 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
make

170, 249.)
Toledo

Peoria & 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
follows, viz.: That the Wabash
Pacific guarantees 7 per cent on the
$4,500,000 first mortgage bonds
of the Toledo Peoria & 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 Wabash 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 satisfactory reports of
earnings have
been issued of late years. In 1878,
gross earnings were reported at
$1,358,290; net earnings, $172,411; rental, $12,500; hire of cars,
$185,278 ; taxes, &c., $68,902. (V. 29, p. 68, 383, 408,
539, 608, 632;‘
V. 30, p. 93, 170, 249.)

corporation
up a grand total of 1,915*2 miles, as follows:
Wabash, main line and branches—Toledo, O., to St. Louis
and Hannibal.
Leased Lines—

658*30

Chicago & Paducah Railway—Strawn to Chicago
Quincy Missouri & Pacific—Quincy, to Milan, Mo

Eel River

Railway—Logansport, Ind.,

259*50
98*00

to Butler, Iud
93*84
Camp Point to Quincy, operated jointly with C. B. & Q 21*77
Elvaston,ril.,to Hamilton, 111., op. jointly with T.P.& W.
6*48—1,137*89
St. Louis Kansas City & Northern Rail
way,Jproper—St.
Louis to Kansas City
277*00

Branches—
From Ferguson, Mo., to St. Louis, Mo.. ?
10 46
From Salisbury, Mo., to Glasgow, Mo
15*13
Omaha Extension— Brunswick, Mo., to Council
Bl,. Ia.. 225*00
St. Louis Ottumwa
-{Cedar Rapids Railway, from

Moberly, Mo., to Ottumwa, la
Clarinda Branch
Leased Lines—

131 00
22 00—

680*59

Ware

River.—Palmer, Mass., to Winchendon, Mass., 49 miles. It is
Albany Railroad at a rental of
per cent pec
annum.
I. A. Rumrill, President,
Springfield, Mass.
Warren, A. J.— Line of road, New Hampton Junction to Delaware
Bridge, N. J., 18*4 miles. The road is leased to Delaware Lackawanna
leased to the Boston &

t. Joseph & St. Louis

Joseph, Mo

Railway—Lexington, Mo., to St.
76*00—

Total operated

97*00

& Western at 7 per cent on stock and bonds.

| 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

Total

CAPITAL ST#CK AND DEBT.

Mortgage debt,

as

in this.

12,995,500
r

above

$35,267,950

Washington City <£ Point Lookout.—Hyattsville, Md., to Shepherd,
This road was

Md., 13 miles.

$35,267,950

Preferred stock
Common stock

more

20,000,000
20.000,000

Total

“

Missouri
“

Division—Mortgage interest

$1,519,904

Division—Mortgage interest

378,980
907,045
144,795

“

Rentals leased lines

Rentals of leased lines, bridgps, &c

Making in the aggregate

$2,950,724
—The additional equipment provided and to be
delivered during the
year 1880 will require a further outlay of about $500,000, payable in
instalments. This sum is chargeable to construction
account, and will
eventually increase the funded debt of the company.

.

COMBINED EARNINGS OF THE TWO OLD DIVISIONS.

Of the earnings of years prior to 1879, the

Earnings.
$8,872,527
8,485,792
7,644,328
6,648,106

1875.
1876

following statement is made:
Expenses.
' Net.
$6,442,334
$2,430,173
6,524,827

5,722,994

1,960,965

1,921,324

5,610,310
1,073,796
5,488,937
2,065,151
7,733,088
5,421,916
2,311,172
8,322,867
5,451,941
2,870,926
The fixed charges, or interest and rentals, include
the amount to be
paid on the following lines, the earnings of which are not embraced in
the statement, viz.:
Chicago & Paducah Railway and extension
259 miles.
*

7,554,088

.

§uincy & Missouri Pacific Railway
el River
Omaha Extension
Clarinda Branch

98
94
143
22

“

“
“
“

OlO

UI11CO.
In estimating the business of
1880, therefore, the additional earnings
of these newly-constructed and
newly-acquired lines should be included.
Preferred stock of the new company was issued for
preferred stock of
the St. Louis Kansas City & Northern, and for one-half of
Wabash stock;
common stock of new
company was issued for the St. Louis Kansas
City
& Northern common and for one-half of Wabash
stock. Of the Wabash
funded debt bonds, $1,958,355
carry 5 per cent in 1879-8Q and 6 per
cent thereafter; the balance are 7
per cents.
First mortgage on St.
^Charles Bridge is for $1,000,000, and is 7 per cent for 3
years and 8 per




&

Ohio

$1,000,000.

—The total fixed charges of the Wabash St. Louis & Pacific $75,207,950
Railway Co.
will be as follows:
Wabash

earnings,

1878 the Bingham Canon &
Camp Floyd was merged
For three years, 1876-7-8, the
average net
$131,186 per annum. The stock is $1,100,000. C. M. earnings were
Scofield, Presi¬
dent, New York City. ‘

$22,272,450

“

Gross

1878,
$303,412; net earnings, $183,137; interest paid, $94,500; dividends,
$126,000; loss to lessees, $37,362.
’
Wasatch <£■ Jordan
Talley.—Brigham City, U. T., to Alta City, U. T.,
44 miles.
In

1,915*48

for

opened in 1873.

$36,000 gold per
Same officers as Baltimore

It is leased to the Balti¬
annum. The stock paid in is
& Ohio Railroad.

Washington City Ta. Midland <£ Great Southern.—Line of road, Alex¬
andria, Va., to Danville, N. C., 238*2 miles.
Branches—Manassas Junc¬
tion to Strasburg, 63 miles; Warren ton Junction
to Warrenton, 8 ^ miles;
to Harrisonburg (leased to B. & O.), 49 miles; total of all
Strasburg
lines,
359 miles. A consolidation
(November, 1872) of the Orange Alexandria
& Manassas and Ljmch’g & Danville
railroads. The O. A. <fc M. was a
consolidation (June 1, 1867) of the
Orange & Alexandria and the Man¬
assas Gap.
Between Gordonsville & Charlottesville, 22 miles, the Ches¬
apeake & Ohio Road is used for a rental of $30,000. The
company was
put into the hands of a receiver July .l, 1876, interest
being in default.
The Baltimore & Ohio has large claims
against the company for
etc.; but a plan of reorganization is in progress which will be coupons,
agreed to
by all interests. This proposes: The interest on the first and second
Orange & Alexandria from July 1, 1879, to July 1, 1880, is to be funded
in the” new bonds to be issued. Interest on the
third Orange & Alexan¬
dria is 6 per cent after the expiration of five
years. The interest on the
fourth Orange & Alexandria bonds is to b’ 3
per cent for the first ten
years, 4 per cent for the next ten years, and 5 per cent for the remain¬
ing twenty years. The mortgage to be made to secure the new bonds,
issued in lieu of the Orange Alexandria & Manassas
and Manassas
Gap bonds, is to cover all the interest of the new
company in the lease
of the road from
Strausburg to Harrisonburg, made by the Baltimore &
Ohio Railroad Company, thus
pledging the rental of that road to the
payment of the interest upon this class of new bonds. The interest upon
the new bonds issued in lieu of the
Lynchburg & Danville bonds is at
the rate of 4 per cent for eight years. The common and
preferred stock
of the companies is to be represented
by stock of the new company
upon a basis of $100 stock of the new for $500 stock of the old com¬
panies. The new road to lie constructed by the Charlottesville &
Rapidan Railroad Company, from Charlottesville to
Orange Court House, is
to be covered by all the
mortgages except the mortgages to secure the
Dew bonds issued in lieu of the
Lynchburg & Danville bonds. The new
company is to assume the lease or 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 the Lynchburg & Dan¬
ville bonds. The trustees are
authorized to borrow such sums of
money
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
as

<

January the
18,1879 (V. 28,
ment or
earnings and
each section
was

p. 70), which contained the

following state-

expenses and the interest charge for which

primarily liable:

RAILROAD

March, 1880. J
Subeerftbere will confer

a

AND

BONDS.

57

great favor by giving immediate notice of any error discovered in these Tables.

DESCRIPTION.
For

STOCKS

Miles

explanation of column headings, Ac.,
on first page of tables.

see

notes

Date

of
of
Road. Bonds.
.

Bonds—Princi¬
pal,When Due.
Rate per When Where Payable, and by
Stocks—Last
Cent.
Whom.
Payable
Dividend.
INTEREST OR DIVIDENDS.

Size,

or
Par

Amount

Outstanding

Value.

Wash. City Va. Mid. dk Qt. Southern—( Continued)—
3d mortgage, O. A A., and funded interest
4th mortgage, O. A A.,
do
do
1st mortgage, O. A. & M. RR
2d mortgage. O. A. & M. RR... 4
Gen. mort., gold, Wash. C., Ya. Mid. A Gt. South’n

....

1858
I860
1867

....

1873
1871

$817,800

....

336

Lynchburg A Danville, 1st mort., guar., coup
Westchester <& Philadelphia—Preferred stock
1st mortgage, new
West Jersey—Stock
Loan of 1883, guaranteed by Camden A Amboy..
1st mortgage loan

$....

65*2
....

....

500 Ac.
....

1,200,000
1,650,000
133,050
1,000,000
1,310,000
821,300

11887744--659*956.
1875-96
1st

do

27
128
60
38
63
41
116
44
160
138
90
90
90
90
90
90
90
60

consolidated

Cape May A Millville
Western (Ala.)—1st mortgage (Mont. A W. P.)
Western RR. bonds, before consolidation
2d mort.. guar, by Cent, of Ga. and Ga. RR. A B. Co.
Western dk Atlantic (Ga)—Income bonds

Western Maryland—1st mort., 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
Western North Carolina—1st mortgage
Western Pennsylvania—1st mortgage
1st mortgage. Pittsburg Branch
General mortgage.
White Water— Stock'($325,000 of it pref.)..

Wilmington Columbia dk Augusta—1st mortgage

1871
....

1861
1866
1869

1866
1868
1870
1873
1858
....

....

130
57

1863

28

1865

....

Receipts.

•

•

•

•

....

....

1,000
....

....

....

1,000
....

....

....

188

...

500 Ac.
100 Ac.

Expenses.
$521,503

Income.

•

•

•

500 Ac.
•

•

*

*

Primary

Interest

Charge.

$215,302

$284,031

90,671
5,051

143,433
117,000

162,721

72,050

105,992

100,941

$1,005,518

$693,991

$311,024

$894,405

$615,000

190,421

$279,405

$284,031

75,000

133,291

113,000

115,421
20,291

143,433
117,000

$1,218,117

$803,000

$415,117

Lynchburg A Danville Div.
Total

1,200.000

....

1870

Net

$736,805

1,359,750
400,000
1,000,000
1,000,000
500,000
300,000
600,000
1,200,000
736,000
200,000
400,000
300,000
300,000
600,000
875,000
1,000,000
500,000
100,000
850,000
800,000
1,000,000

62

1877.

....

50
500 Ac.
500 Ac.
500 Ac.

....

1868
1870
1872

•

Div

1,100,000

....

1867

Income bonds

Alex. A Lynchburg
Manassas Div

100 Ac.

.

1,300,000
3,200.000
600,000

.

..

,

8
8
7
7
7 g.
6
2
7
2
6
6
7
7
8
8
8
10
6
6
6
6
6
6
6
77
7
6
6
7
7
*

*

*

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

A
A
A
A
A
A
A
A
A
A
A
A

Nv
S.
J.
J.
N.

0.
J.
O.
A.
S.
J.
O.

Balt., R. Garrett A Sons May 1, 1873
do

do
do
do
do
do

Sept. 1, 1880
July 1, 1880
do
July 1, 1882
do
May 1, 1903
do
April 1, 1896
Jan. 10, 1880
Philadelphia, Office.
do
do
April 1, 1891
Phila., Pa.RR.Co. Office Nov. 17, 1879
do
do
Moh., 1883
do
do
Jan., 1896
do

do

do

Oct.. 1890

J.

A J. New York A Savannah.
A. A O.
do
do
A. A O.
do
do

July. 1881
Oct. 1. 1388
Oct. 1, 1890
Oct. ’79 to ’9i
Atlanta, Co.’s Office.
Q—J.
J. A J. Balt., N. Mechanics’ B’k Jan. 1, 1890
J. A J.
do
do
Jan. 1, 1890

J. A J.
J. A J.
J. A J.
J. A J.
J. A J.

do

do

do
do

do
do

....

A. A O.
J. A J.
A. A O.

J.

Jan.,
Jan.,
Jan.,
Jan.,

Hagerstown.
Balt., N. Mechanics’ B’k

Philadelphia, Office.
do
do

do
do

1890
1890
1895
1900

May 1, 1890
April 1, 1893
Jan. 1, 1896
Oct. 1,' 1901

A D. Balt., Safe Deposit Co.

June, 1900

*
-

Contrary to expectation, the Baltimore A 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 the
present completed line of 60 miles, including the Hanover A Gettysburg,
the controlling road, and without further extension nortlrward 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

1878.

Alex. A Lynchburg
Manassas Division

Div

....

Lynchburg A 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 by the court. (V. 28, p.
70, 147, 555; V. 29, p. 19, 68, 96, 303, 331, 383; Y. 30, p. 193.)

Westchester dk Philadelphia.—Lino of road—Philadelphia to West¬
chester, Pa., 26 miles; branch to Malvern (leased), 9 miles; total, 35
miles. The Westchester Railroad is leased for 99 years from January 1,
1865. All the old stock has been taken up, and the present consolidated
stock issued, which receives 8 per cent per year. Gross earnings,
1877-78, $312,486; net, $146,127. (V. 26, p. 116.)
West Jersey.—Main line—Camden to Millville and Bridgeton, 59
miles; leased lines, 69 miles; total, 128 miles operated. The company
holds as. assets $1,139,448 of various stocks and bonds. In 1878 the

rentals of Swedesboro Railroad and Salem Railroad were $27,505 more
than their net earnings; the net profits over interest and rentals were
$6,242. The operations for three years past were:

Passenger
Mileage.

1877
1878..
1879

14,523,873
15,386,915

Freight (ton)
Mileage.
3,796,067
3,624,703

Gross
Earnings.
$595,025

Net
Earnings.
$203,595

541,678
202,985
586,178
253,812
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 A
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.
The gross and net earnings have
been

as

follows

r

,

miles of the Western

using

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 A Cumberland Valley Railroad was also
expected to be in operation by this time to the town 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 or 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
Mileage.

Freight
Mileage.

Gross

6,140,713
6,737,061
6,582,241
7,411,061
8,502,388
—(V. 28, p. 97, 121, 147, 454; V.

Net

Earnings.

Earnings.

$293,718
$99,298
4,631,932
311,902
96,346
4,692,089
332,086
112,145
5,180,982
347,202
129,927
5,469,519
347,442
73,095
29, p. 458.)
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.—Road 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
The road was financially embarrassed, and was purchased April
Earnings.
Earnings.
Intercs't. 17,1875, by commissioners for the State of North Carolina. It is
pro¬
V
$491,458
$121,088
$204,240 posed to complete the road to the Tennessee State line. In
March, 1880,
467,597
100,524
204,240 a meeting of the Legislature was called to act on a proposition
by New
544,107
176,652
204,240 York capitalists to purchase the road. Stock,
$1,400,000. J. W. Wilson,
204,240 President, Morgantown, N. C. (V. 30, p. 249.)
Western dk Atlantic.—Atlanta, Ga., to Chattanooga, Tenn., 138 miles.
Western Pennsylvania.—Tlie road runs from Blairsville to Alleghany
Built by State of Georgia and opened in 1850, and by an act of October
City, Pa., 63*2 miles; branch to Butler, Pa., 21 miles; total, 84Lj miles.
24,18vO, was leased to a company for twenty years at a monthly rental Completed in 1865 and branch in 1870. Leased to
Pennsylvania Rail¬
of $25,000. In 1877 gross earnings were reported at $1,091,895, and
road, the lessees paying net earnings to lessors. The Pennsylvania Rail¬
net, $460,905. None later given. (V. 29, p. 489.)
road, lessee, owns $972,650 stock out of the total amount oi $1,022,450,
Western Maryland.—Line of road—Baltimore to Williamsport, Md., 90 $148,000 of branch bonds, and all of $1,200,000 general
mortgage
miles. The capital stock is $682,250. The company was largely assisted bonds. In 1878 gross earnings were $547,175 and net earnings
$231,175.
by the city of Baltimore, and was unable to pay all its interest. A com¬
White Water— Harrison, O., to Hagerstown, Ind., 62 miles. This was
promise was made with the preferred second mortgage bondholders for
formerly the White Water Valley, sold in foreclosure May 2,1878, and
funding coupons. See Chronicle, Vol. 29, p. 458, where the last annual reorganized under this title. Net earnings in 1878, $17,645. Elijah
report is published,which contained the following interesting information:
“
Smith, President, Boston, Mass.
During the year an amicable adjustment has been made with the pre¬
ferred 2d mortgage bondholders, by the adoption of a mutually satisfac¬
Wilmington Columbia <£ Augusta.—The road extends from Wilmington
tory funding scneme. Under this arrangement, the overdue coupons upon N. C., to Columbia, S. C., 189 miles. The company leased Wilmington A
$390,000 of the $421,500 of these bonds held by individuals nave been Weldon, but failed on the rent December, 1877.
Gross
Net
funded, and it is expected the balance, principally held in Carroll
Gross

-

Net

Bonded

miles:

.

county, will toe funded by Jan. 1; the time at which the company has
agreed to resume the payment of interest upon all such bonds represent¬
ed in the funding certificates. The finance commissioners of 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 bear¬
ing 8 per cent interest, fall due July 1,1880. A number of the princi¬
pal holders of these have been consulted, and all seem willing to renew
at maturity at 6 per cent. The one coupon in arrears on $400,000 first
mortgage bonds, unendorsed, amounting to $12,000, will be paid at an
early day; also, 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, with
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 inceptien to the present time, and the day for such a
condition can no longer be remote.




’

•

Earning^.

Earnings.

532,311

116,634

$593,597

$193,608

518,225
87,630
509,699
98,659
478,309
deficit, 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 A
Augusta Railroad, $3,200,000, and accrued interest, $335,000, 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, $1,000,000, and the capital stock of the old company, $300,000.
-(V. 29, p. 351; V. 30, p. 84, 100.)

RAILROAD STOCKS AND BONDS.'

58
==

tcssss =;

1

.

-

[Vol. xxx.

.

====z========.
=
■
■
by giving Immediate notice of any error discovered in these Tables.

Subscribers will confer a great favor

1874-956
For

DESCRIPTION.

explanation of column headings, &c., see notes
on

*

first page of tables.

Outstanding

$100

$1,456,200

Amount

Rate per
Cent.

pal,^When Due.

Where Payable, and by
Whom.
Payable
When

Stocks

Last

Dividend.

*

179
179

Wilmington, A Weldon—Stock
Sterling bonds
t,

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Miles Date Size, or
Par
of
of
Road. Bonds Value.

do

Bonds
Bonds
Bonds
Nashua & Rochester—Stock
do
do
1st m., guar,
-

1874-569

>

do

Sinking fund bonds, gold
Wisconsin Central—1st mortgage, gold, land grant.
Wisconsin Valien—New mortgage non da
Worcester dk Nashua—Stock..-

1871
500
100

1879
■

(for $700,000)

1,103,965

7

1,789,800
350,000

2
5
5
5

400,000

m

1874

l g*
7 g.

250,000

1873
1875
48
48

749,000

8,168,000

....

327
107
94

648,700
221,400

3
6 g.

m

m

m

1,185,000

500 &c.

700,000

1*2
5

J. & D.
J. & J.

London.
do

M. & N.
J. & J. N. Y. ,Bost. ,Lond.,Frank
J. & J.
Boston, Office.
Boston.
J. & J.
Worcester, Office.
do
do
Various
A. & O. Boat., Globe Nat. Bank.
do
do
F. & A.
A. <fe O.
Worcester, Office.
A. k 0. Bost., Globe Nat. Bank.

Nov. 22, 1879
1881
1886

1896

July 1, 1901

July 1, 1876

1881 & 1887

April 1, 1893
Feb.

1, 1895
Oct., 1879

April 1, 1894

Wilmington & Weldon.—Road extends from Wilmington to Weldon, miles. The road has been extended from a point two miles north of
miles; branch to Tarboro, 17 miles; total, 180 miles. Was leased Wausau to Jenney, a distance of 17*2 miles, and $175,000 first mortgage
November, 1872, to Wilmington Columbia & Augusta Railroad for 99 coupon 7 per cent bonds have been issued therefor, in conformity with
years, the lessees assuming all liabilities and paying 7 per cent divi¬ the company's circular of October 30, 1879. Lincoln County bonds to
dends. The lessees made default December, 1877, and the lease was the amount of $55,000, bearing 8 per cent interest, have been issued in
surrendered April 13,1878. The earnings and expenses for five years aid of such extension, and delivered to this company. The capital stock
was about $600,000 and $1,800,000 8 per cent first mortgage bonds,
have been as follows:
which were in default for several years. In 1879 an arrangement was
Gross
Net
Earnings.
Earnings. made to reduce the bonds to $900,000 7 per cent bonds, and preferred
$661,295
$269,509 stock was issued to the amount of $1,403,255. To each holder of $1,000
604,699
238,977 8 per cent bond a $500 7 per cent bond was given, with preferred stock
548,462
156,908 to cover the remaining $500 with the four years’ over-due coupons.
488,448
176,277 The common stock is now (Jan. 1,1880,) $623,000. In the year 1870
505,957
189,413 gross earnings were $225,953. and net $88,125. New bonds for exten¬
sion issued, Oct., 1879.
(V. 29, p. 452, 513.)
—(V. 28, p. 44, 144; V. 30, p.191.)
N. C., 163

»

-

Wisconsin Central.—Main line, Menosha to Ashland, Wis., 249 miles;
branch to Portage City, 71 miles; leased the Milwaukee & Northern,
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, havmg been operated previously by the

Phillips & Colby Construction Company.

There is a valuable land-grant

of over 800,000 acres. The full plan of proposed reorganization, with¬
out foreclosure, was given in the Chronicle, V. 29, p. 303. Of the
above bonds, $1,091,500 are “ unfunded,” bearing coupons of July,
1875, and since; $3,594,000 have funded nine coupons, including July,
1879; $3,481,500 are “clipped” bonds, first coupon due Jan., 1881;

$15,000

of

are

partiaUy “ clipped ” bonds, issued by mistake, with coupon

July, 1880, on.

Years.
Miles.
1875-6.. 355
1877
449
1878
449
....

For four years past the earnings, &c., were as follows:

Passenger
Mileage.
5,960,952
5,581,586
5,661,975

Freight (ton)

Gross

Net

Mileage.
21,647,694
23,968,360

Earnings.
714,429

Earnings.
$297,733
111,893

23,225,583

733,819

122,863

$709,935

1879 .,,.. .....
r—<V. 28, p. 18, 70; Y. 29, p. 147, 303; V. 30, p. 249.)
Wisconsin.

Worcester A Nashua.—This road, 45 miles from Worcester, Mass., to
Nashua, N. H., paid regular dividends of 10 per cent for some yearsbefore 1874-5. In 1875-6 the leased line charges (Nashua & Rochester, 48
miles) first appear in the accounts, and the Worcester & Nashua paid
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
are to be apportioned between the stock of each company according to
the relative number of shares. In the first five years operations were as
follows :
Net
Gross
Freight
Passenger

Valley.—Road extends from Tomah to Jenney, Wis., 107 -(V. 27,




Receipts.

Mileage.
9,083,218

Earnings.

5,245,921

$461,369

$125,290

5,874,808
6,383,990

8,969,241
10,063,658

5,703,761

9,961,740

507,325
497.239
473.240
473,081

162,597
157,260
168,351
186,400

Mileage.

p.

537; Y. 28, p. 378 ; Y. 29, p. 86, 539.)

CANAL STOCKS AND BONDS.

march, 1880.j
Subscribers will confer

a

great favor by giving Immediate notice of any error discovered in these Tables.

DESCRIPTION.

Miles Date Size, or
of
For explanation of column headings, &c., see notes
of
Par
on first page of tables.
Canal. Bonds. Value.

Albermarle A Chesapeake—Stock

Delaware

14
14

Lehigh Coal A Navigation—Stock
Loan, conv., coup., gold (assumed L. <fe W. Coal Co)

1st mortgage, registered
1st mortgage,' registered, railroad.
Mort. loan, g. ($2,310,000 assumed C. RR. of N. J.)
Loan
Loan extension, convertible till December, 1877.

....

....

153
....

•

•

•

....

.

_

.

.

103
103
....

327
327
108

mortgage, extended

—

lean
car loan

car

•

•

.

.

.

.

....

bonds of 1872

Union—1st mortgage

....

+ m

m m

....

85

.-.

6,482,000
4,856,000
5,000,000
11,193,550
771,000
5,381,963

1000&C.
50

....

1,000
1,000

....

liOOO
....

1872
1871
1872

....

....

100

....

100

....

1876
1865
1869

1,000
various.
various.
50

1870

1,000
50
50

....

1,000

....

1,000

....

....

1,000
1,000
1,000

1870
1863
1864

50

1839
1859
1841-4
1872
•

•

••

....

....

....

....

....

Albertnarlc A Chesapeake.—Securities placed on New York Stock
.Exchange list February, 1880. (See Y. 30, p. 248.)

Chesapeake A Delaware.—Delaware City to Chesapeake City, Md.
—(V. 27,p. 66.)
Chesapeake A Ohio.—Oross receipts, 1878, $280,457; net, $82,525.
—(V. 28, p. 599.)
Delaware Division.—Leased to Lehigh Coal 3c Navigation Company at
interest on bonds and 4 per cent a year on stock, payable till February,

1880, inclusive, in scrip, then till August, 1881, half in scrip.

p.

41,198.)

2,000;000

1,000
1,000
1,000

....

45

Susquehanna Canal, common bonds, 3d mort
do
pref., 3d. T. W. priority b’ds..

3;500',000

1,000
1,000

....

•

....

do

1,000

1869
1871
1874
1877

•

....

Susquehanna—Stock
Maryland loan, 2d mortgage

100

....

....

Mortgage bonds, coup, (payable by P. 3c R.)
Improvement bonds

1,000

....

....

2d mortgage

4,375,000
1,699,500
1,633,350
800,000
20,000,000
1,482,000

50

1858

•

....

103

(for $1,000,000)

General mortg., interest guar’d by Penn. RR
Schuylkill Navigation—Stock, common
Preferred stock

Boat and
Boat and

148
148

103

Pennsylvania—Stock

1st

148

....

Preferred stock scrip dividend

.

60
60

....

Extended, 1877

Preferred stock
New mortgage
Boat loan—

Vario’s
25

(Y. 28,

Delaware A Hudson.—This company, which is among the largest
miners and carriers of coal, leases the Albany & Susquehanna and
Rensselaer & Saratoga railroads. Also endorses bonds or New York &

4,658,500
508,520
41,550
2,119,259
717,000
1,025,000
1,175,000
780,000
220,000
103,164

Payable, and by

7'

2,078,038
1,993,750
8,229,594

J. & D.
J. 3c J.
r\

6
5
6
6
4
7
7
7
7
7
6 g.
6
6
6 g.
6
6
7

7
2
5
7
7
7

t

A

14*38.

1^

,

Philadelphia, Office.
do

do

T

3,000,000

6
70c.

$1 40
6
6
6
6
6
7
6
6
6

7
6

1909

Jane, 1873
July, 1886

Balt.. A. Brown A Snnn

j

1870
1890

nr»

J. & J. Balt:-. A. Brnwn A Srvn*
1885
F. & A.
Philadelphia. Office. Mar. 20, 1880
J. & J.
do
do
July 1. 1898
F. 3c A. N. Y., Bk. of Commerce.
Aug. 1, 1876
M. & N.
do
<lo
Nov. 1. 1861
J. & J.
do
do
1884
J. & J.
do
do
1891
A. 3c O. N. Y., office 71 B’way.
1894
M. & 8.
do
do
Sept. 1. 1917

Q—M.

M.3c 8.

Philadelphia, Office.
do

do
do
do
do

do

Q—J.

F.
F.
F.
A.
A.
F.

&
3c
&
&
&
3c
&
&
&
&

1894

do
1897
do
1897
do
do
’79- 80-’81-’82
do
do
1882
do
do
June 1, 1911
do
do
1892
A. Leh. Val. RR. Co.. Phila.
Aug. 4,1879

Q—F.

J.
J.
J.
J.

D.
D.
D.
D.
A.
A.
O.
O.
A.

J. & J.
F. & A.
F. 3c A.

do
do
do
do

do
do

Aug. 4,1879
April 1,1906
Oct., 1885
Feb., 1889

do
do

Philadelphia, Office.
Philadelphia, Office.
do
do

Q.-M.
J. 3c J.

J. 3c J.
M. & N.
M. 3c N.
M. 3c N.

J.
J.
J.
J.
M.

3c
&
3c
&
3c

Sept. 2, 1876
1884

4,480,405
3,000,000
909,236
3,175,900
1,709,380
3,990,392
1,200,000
260,000
756,650
628,100
2,002,746
1,000,000
1,320,000
325,310
250,000

Stocks—Last
Dividend.

Julv 1.

3
6

2^000^000

Division—Stock, (Conv.into L.C.&N.stck.)

Morris—Stock, consolidated

Rate per When Where
Cent.
Payable

500^000

50

1856

Outstanding
$1,500,000

1879

1st mortgage (extended 20 years in 1878)
Delaware A Hudson—Stock
1st mortgage extended
1st mortgage, registered
do
do
Debenture loan of 1894, coup and reg
1st M., coup. & reg., on Penn. Div. ($10,000,000)

Consolidated mortgage loan
Greenwood mortgage, reg.

$....

•

Mortgage bonds. C
Chesapeake A DelawaiT—Stock
1st mortgage (originally $2,800,000)
Chesapeake A Ohio—Stock
Maryland loan, sinking fund
f^narantep.d starling Irian
Bonds having next*preference

Bonds—Princi¬
pal, When Due.

INTEREST OR DIVIDENDS.
Amount

X
J.
J.
J.
N.

do
do
do

do
do
do
do
do

1882 to 1907
1895

do
do
do
do

May, 1880
May, 1913
May, 1915

Phila. and Baltimore.
do
dodo
do
do
do

Philadelphia, Office.

Revenue from rents
Profit realized from sales of real estate

July, 1910
Aug. 6, 1879
Aug. 6, 1879
March, 1897

Jan., 1885

-

Jan. 1, 1879

Jam, 1894
Jan., 1902
May 1,1883

$33,943

'

5,760
3,393

Miscellaneous receipts
Total

$1,183,848
DISBURSEMENTS.

General and legal expenses
Rent and taxes Nesquehoning 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—1,309,61*

Deficit
Canada Railroad. The annual report for 1878 was given in Y. 28, p.
$125,763
501. The company has issued the following abstract of its statement The President remarked: “ For the purpose
of reducing our floating
for 1879:
debt and of providing means to meet other
maturing liabilities, the
Board made sales during the year of $793,000 of the
Receipts from coal, <fco
$6,403,907
company’s con¬
solidated 7 per cent bonds, at an average of 88 per cent. The
Receipts from railroads
3,152,839
improved *
Miscellaneous and interest
415,303— $9,972,049 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-'
Expenses of all kinds
7,455,033
honing Valley Railroad, and to reduce the dividends guaranteed by us
Net earnings
$2,517,016 on the stock of that company. The right was reserved to us in the lease
to retire the stock at par at any time after ten
Paid taxes, interest and rentals leased lines
years, which expired in.
3,147,659
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
Showing a deficit
*$630,643
Of this, $316,059 was loss upon leased lineB, including the New York &' the reduction for five years of the dividends from 10 per oentto7 per
cent per annum from September 1,1879, without cost to this
Canada Railroad.
oompany.
Coal, tons. The rent is thus reduced to $97,000 per annum—a saving of $41,000
from the amount paid last year.” * * * “ The
There was mined and sold for account of the company.
floating debt was atj
3,054,390
Transported for other parties.. .*
357,673 the close of the year $1,000,000, and there remain in the hands of the
company $1,108,000 consolidated 7 per cent bonds in addition to the
Total
3,412,063 18,900 shares of stock. The first installment of the debenture loan,
extended in 1877 matured, and was paid, on 10th December.” (V. 28;
The entire cost of the damage to the canal caused by the unprecedented
p. 198, 224,578; V. 30, p. 190.)
‘ v*
high water of December, 1878, is included in the

453, 501; V. 29,

p.

expenses.
(V. 28, p.
119, 146,^25, 357, 459, 563, 631; V. 30, p. 168.)

Lehigh

Coal A Navigation.—The, Central Railroad of New Jersey
(in purchase of equipment) $2,310,000 of the gold loan due
1897, and leases the Lehigh 3c Susquehanna Railroad. The Lehigh 3c
Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897,
and $771,000 (all) of the convertible gold loan due 1894, and has also,
leased the coal lands of the company. The Board of Managers’ report
assumes

for the year 1879 has the
ments:

following statement of receipts and disburse¬
RECEIPTS.

Railroads and Nesquehoning Tunnel

$828,817
51,930

Lehigh Canal.
Water Powers Lehigh Canal—
Delaware Division canal
Net profit on Lehigh Coal.

Royalty on coal mined by lessee#




1

19,830

47,589
190,622

1,961

..

• •

.

>

r

,

Morris.—Leased April, 1871, to Lehigh Valley Railroad for 999
years.; •>.
The lessees assume bonds and scrip, and
pay 10 per cent per annum on
preferred stock and 4 on consolidated stock. (V. 12, p. 714.)

Pennsylvania—Worked in interest of Pennsylvania Railroad, which,
on bonds.
An old mortgage of $90,000 is due in

guarantees interest

Schuylkill Navigation.—Leased from June 1,1870, to Philadelphia &
Reading for 999 years, at annual rent of $655,000, including certain
real and personal property conveyed to
Philadelphia & Reading. The
dividend of August, 1879, was payable in Philadelphia 3c Reading Rail¬
road scrip. (V. 22, p. 493 ; V. 26, p. 418.)
6 * *
.

Susquehanna.—Leased and operated by Philadelphia 3c Reading Rail*
road for interest on bonds and half of net earnings.

Union.—Stock, $2,907,850.

*

Subscribers will confer

a

Date

explanation of column headings, Ac., see notes on
first page

BONDS.

AND

[VOL. xxx

great favor by giving, Immediate notice of any error discovered In tbese Tables.

DESCRIPTION.
For

STOCKS

MISCELLANEOUS

60

sf tables.

Size, or

of

par
Value.

outstanding.

Bonds

Rate per
Cent.

Where

When

pal,When Due,

Payable, and by
Wh
10m.

Pay’ble

Stocks—Last
Dividend.

2
Q-M. N. Y., Company’s Office. Deo. 1. 1879-'
M. & S.
New York, Office.
2*2
Sept. 10, 1877
1,500,000
o
J. & J. N. Y., Company’s Office. Jan. 2, 1880'
18,000,000
CO
Deo. 30, 18791
New York.
15,000,000 \ <fe *4 ex Q.-J.
800,000
Nov. 12, 1872io s.
Boston, Office,
4,291,650
do
J. & D,
7
Juno, 1884
1,948,000

$100 $12,000,000

Adams Express—Stock
American Coal (Maryland)—Stock
American Express—Stock
American Union Telegraph—Stock
Atlantic dk Pacific Telegraph- Stock
Boston Land—Stock
Boston Water Power—Stock

25

100

*ioo
10
50

v

1874

Mortgage bonds (for $2,800,000)
Canton Improvement—Stock

Sterling bonds (sinking fund one-fifth of land Sales)

Mortgage bonds, gold, sixes (for $2,500.000)
Union RR., 1st mort., end. (sink, fund, rents on $220,163)
2d M., g., end., (s. f. ground rents on $144,800)
do
Caribou Consolidated Mining—Stock
Central Arizona Mining—Stock
Central Netr Jersey Land—Stock
Climax Mining—Stock
Consolidation Coal of Maryland—Stock
1st mortgage (convertible)
1st mortgage, consolidated, convertible.

Cumberland- Coal cfl Iron—Stock
Deadwood Mining— Stock
Dunleith dk Dubuque Bridge—Bonds, oinking
Excelsior Water dk Mining—Stock
Homestake Mining—Stock
Iowa RR. Land Co.—Stock
La Plata Mining dk Smelting—Stock
Leadville Mining—Stock
Little Pittsburg Consolidated Mining—Stock

Bond*—Princi¬

INTEREST OR DIVIDENDS.

Amount

fund

1,000

1873
1874

16*4
£200
1,000
500 &c.
500 &c.

"6*g.

1,073,000

i'o

783,000
600,000
1,000,000
10,000,000
2,400,000
2,000,000

100

10,250,000

1,000
1,000

387,000
753,000

7
6

500,000

6
25 cts.

10
100
*

'

1864
1872

100
100

1868

1,000
100
100
100
’

100
100
100

Preferred stock
1875

10,000,000
400,000
10,000,000
10,000,000
7,620,000

6 g.
10 cts.

10 cts.

2,000,000
20,000,000
10,000,000

8
25 cts.
30 cts.
1
15 cts.

50 cts.

5,000,000
(?)

1,000

J. *&J. London, Brown S. A Co.
New York or London.
J. & J.
J. A J.
M. & N.
London.
New York, Office.

Jan.
Jan.

1, 1904-1, 1904
1900

March

New York, Office.
Feb., 1880
S, N.Y., Co.’s Office, 71 B’y Jan. 2, 1877*
do
do
& J.
Jan., 1885
do
do
Jan. 1, 1897
& J.
New York, Office.
Oct. 15, 1875A O.
New York, Office.
Feb., 1880
M. A N. N. Y., at Ill. Cent. R. R.
Nov., 1893
Now York, Office.
March. 1880'
New York, Office.
Feb., 1880
Feb. 1, 1880
Boston, Treas. Office.
Q.-F.
New York, Office.
March, 1880
New York, Office. •
Jan., 1880
New York, Office.
March, 1880.

M.
J.
J.
A.

2*3

7^2 cts.

’

i'o

Mariposa Land dk Mining—Stock

Mortgage bonds (lor $500,000)

717,875
575,000

&

New York.

J. & J.

Jan.

1, 1886*

ling loan. The company owns the stock of the Union Railroad Company'
reports; no information.
and guarantees its bonds.
(V. 27, p. 14; V. 29, p. 65 ; V. 30, p. 117.)
mortgage bonds for $114,300. The annual
Caribou Consol Mining.—This company has 1,400 feet on the vein
report for 1879 gives the following information:
has paid to date $50,000 in dividends.
Received for coal sold and delivered, earnings of canal boats,
rents and interest
$282,671
Central Arizona Mining.—Ho dividends yet paid.
>
Coal on hand, value
18,065
Central New Jersey Land Improvement.—The report says that duringAdams Express.—No

American Coal.—There are

$300,736

transportation
$180,812
Mining, superintendence, labor, Ac
62,172
Shipping expenses, Alexandria, Baltimore and Jer¬
sey City
28,130
Canal and railroad

interest to March 1, 1880
Salaries, office and contingent expenses

Legal expenses
Oftinfi 1870

Surplus, December
Add gains, 1879

3i,

7,064
13,169

254— 297,058
$3,678

1878

Deduct uncollectible claim
Present surplus
December 31, 1879—Lands and

Total assets

$204,324
3,678— 208,002
.

159

$207,843
real estate at mines,

>1,542,365; real estate at Jersey City, $100,710; mine improvements
116,254; cash, $28,431; wharf improvement at Jersey City, $5,000;
nal property at mines, $33,731; personal property at wharves,
1,335; Dills receivable, $19,892; accounts, $62,246; canal boats,
!0,000; value of coal on hand, $18,065; office furniture, $513; Chesa¬

peake A Ohio Canal bonds, $9,000; C. A P. Railroad stock, $1,000; G. C.
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,
David Stewart. Gardiner P. Lloyd, President; George Sherman, Secre¬
tary and Treasurer. (V. 30, p. 221.)
AC. Railroad stock, $56,000;

American

Union

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

5,455

Taxes
Bond and scrip

the last six months of 1879 an active demand sprang up

still owns $25,500, held for the redemption of scrip as presented. The
dividend scrip ha^i been reduced from $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, was:
Newark lands, $390,584; Bergen, $617,622;
Elizabeth,

$169,150; Westfield, $26,307; Fanwood, $479,633; Plainfield, $347,976; Dunellen, $345,398; Somerville, $77,861;
Clinton, $4,780; Bloombury, $26,345; Phillipsburg, $861. $2,486,522*
Bonds and mortgages receivable
38,374
Land contracts
17,471
Accounts receivable
‘
278
.

4,687

Cash

$2,547,334
$2,400,000

Capital stock
Less held
Dividend

25,500— $2,374,500
43,296

by company
scrip

152

Unpaid dividends
Bonds and mortgages
Accounts payable
Profit and loss

31,475

payable

876

97,033

Telegraph.—This company, organized imder 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,
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 January, 1880, it was
can

reported that the American Union Company owned 12,000 miles of
in the United States between Boston and Omaha, connecting all

wire

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,

$2,547,334
—(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, Lead¬
ville, Col. There have been expended on surface improvements $25,000,
and on underground improvements $20,000.
The company has paid
$60,000 in dividends.
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.)
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, &c., (includ¬
$1,614,945
ing value of stock of coal on hand) were
Total expenses of every kind (exclusive of interest and sink¬

purchased by the American Union Company, and in connection
a lease was taken of the lines and property of the Dominion
ing fimd, but including steel rails and all extraordinary
Company for a term of 99 years. This connection gives an additional
1,258.382
outlays)
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¬
Net receipts
$356,563
ness with the Direct United States Cable Company, whose cable extends
Net earnings after deducting interest on bonded debt for
from Tar Bay, Nova Scotia, to Ireland. The American Union Company
1879 ana sinking fund belonging to 1879, amounting to
has, in addition,.concluded, a twenty years’ contract for exclusive ex¬
$239,692
116,870
change of business with Le Compagme Francaise du Telegraph de Paris Interest on the funded debt for the year
161,653
a New York, whese new cable was landed on Nov. 17 upon the shores
of Cape Cod, near North Eastham, Mass. This cable extends from Cape —Consolidated mortgage bonds are held to retire old bonds. Guarantees
Cod to St. Pierre, Miguelon, and from thenee to Brest, France, from also bonds of the Cumberland & Pennsylvania, and assumes $135,000 of
which point a cable connects with Penzance, on Land’s End, England.” the Union Mining Company’s bonds. (V, 28, p. 301; V. 20, p. 24T.>
—(V. 29, p. 17, 461, 630; Y. 30, p. 66, 90.)
Deadwood Mining—The stock is on the N. Y. Stock Exchange list. The1,
Atlantic dk Pacific Telegraph.—Pools with Western Union their gross property is located in Whitewood District, D. T., consisting of .the northi
receipts, on the basis of 87ha per cent to the West. Un. and 12*s per cent 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 beenr
to the Atlantic & Pacific. The expenses were arranged at
per
cent to Atlantic & Pacific and 86-85 ^ per cent to Western Union. In $37,817, and the average monthly expenses $10,236, leaving an average
February, 1880, there were reports of a proposed consolidation and issue monthly profit of $27,581. The officers are: President, Joseph Clarke;of one share of Western Union stock for two of Atlantic & Pacific. (Y. Vice-President, J. B. Haggin; Secretary, J. K. Goodrich. (V. 30, p. 66.)
27, p. 280, 627; Y. 28, p. 452.)
Excelsior Water dk Mining.—Stock placed on New York Stook Exchange
was

therewith

Boston Land-.—The capital stock of 80,000 shares of the par value of $10
or $8,000,000, has been placed on the N. Y. Stock Exchange
The assets of the company are: Mortgages, loans and cash on Jan. 1,

each,

fist.

1879, $89,085; Revere Beach Railroad stock, wharf in East Boston,
valued at $17,090; land in East Boston and Revere, about 800 acres,
unincumbered, estimated at $2,090,880; total, $2,197,055. There are
no debts.
(V. 29, p. 510, 537; V. 30, p. 90,117.)
Boston Water Power—Statement of assets, &c., in V. 29, p. 432.

(Y.

121; V. 29, p. 119, 432.)
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,
JV117, Of the $2,500,000 mitgage, $600,000 U reserved to pay eter-

27,

p,




list

Noy^ 1879. (See 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-stamp mill; value, $500,000.

Receipts to January 1, 1880, $1,172,000; expended in development,
construction, Ac., $800,000. Present capacity of mill, 400 tons per day.
Monthly dividends.30 cents per share. Officers: President, Lloyd Tevis;
Vice-President, R.“P, Lounsbery; Treasurer, J. B. Haggin; Secretary,

J. K. Goodrich.

,

,

Iowa Railroad Land.—This, company manages the land grants of
five distinct organizations. The total land owned was 530,217 acres

March 31, 1877.

.

MISCELLANEOUS

March, 1880.]

AND

STOCKS

BONDS.

61

Subscribers will confer a great favor by giving Immediate notice of any error discovered In tbese Tables.

DESCRIPTION.

explanation of column headings, &c., see notes on first
page of tables.

For

Date Size, or
Par
of
Bonds Value.

$100

Maryland Coal—Stock

100

Ifontauk 0a8 Coal—Stock
New Central Coal—Stock
Ontario Silver Mining—Stock
Oreg on Railway <£ Navigation—Stock

100

100
100

Mortgage bonds, gold
Pacific Mail Steamship—Stools.
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

1879

1,000
100

1872
1872

1,000
1,000
50

1861

Producers' Consolidated Land & Petroleum- -Stock

Too
100

Pullman Palace Car—Stock

Bonds, 2d series
Bonds, 3d series

-fi...

Bonds, 4th series
Bonds, debenture

sterling debenture, convertible
Quicksilver Mining—Common stock— .•
Bonds,

Preferred stock
St. Louis Bridge—1st mortgage, new,

1878

sinking fund

Tunnel FR. of 8t. Louis, stock
Southern <6 Atlantic Telegraph—Guaranteed stock
Spring Mountain Coal—Stools, guar. 7 per ct. by L.
Standard Consolidated Gold Mining—Stock

1878
1875

1,000

*25
50

V

100
10

.k

Sutro Tunnel—Stock.

£100
100
100

1879

Mortgage bonds (for $2,000,000)
United States

Express—Stock
United States Rolling Slock—Stock
Wells, Fargo <& Company Express—Stock

'ioo

ioo

Bonds—Princi

INTEREST OR DIVIDENDS.
Amount

(Outstanding

Rate

Cent.

1874-965.

When

Where

pal,When Due,

50 cts.

Stocks—Last

Payable, and by
Whom.

Payable

-

Dividend.

Jan. 31, 1876

1*3

$4,400,000
2,500,000
5,000,000
10,000,000
4.455.300
4,795,006
20,000,000
2,000,000
1,000,000
500,000
5,000,000

p%r

M’nthly
Q.-F.

New York, Office.
New York.

Is-

^ & J. N.Y., Farm. L. <fc Tr. Co,

Feb., 1880.
15, 1880
July 1, 1900

J.
J.

2

June 1,1892

A D. N.
& D.

Feb.

Sept., 1868
June 1,1892

Y., 4th National Bk.

N. Y., Ill ^roadway,
do
do
New York, Office.
Q.—J.
—F. N. Y., Farm L. & T. Co.
A N.
do
do
F. & A.
do
do
do
do
Q.-F.
A. & O.
do
do
A. & O. Lond’n, J.S.Morgan&Co

Nov., 1879

Q.—F.

F. & A.

481,500

2,500.000

5,938,200

Aug.
Feb.

mQ-

328,000
445,000
820,000
199,000
218,000

g-

1,

1881

1877

15,1880

May 15, 1881
Feb. 15, 1887
Aug. 15, 1892
Oct. 15, 1888
April 1,1885

5,708,700

4.291.300
7

948,000
1.500,000
10,000,000

A. & O. New York and London

2

5,000,000
1,250,000

17, 1879
Oct., 1879
N.Y., West. Union Tel.
J.
Company’s Office, Dec. 10, 1879
M’nthly N. Y., Company’s Office, March, 1880

April 1, 1928
Nov.

2Lj

A. & O.

& D. N. Y.,

75 cts.

18,920,000

London.

600,000
7,000,000
5,000,000
6,250,000

New York, Office.

2

1*4
4

M. & 8. New York aud London.
New York, Office.
J. & J.

Jan. 1, 1891
Feb. 15, 1880
Mar. 1, 1880
Jan. 15,1880

Pittsburg Consolidated Mining—The general manager, in his of $110,000, as against $60,000 formerly. The contract is for five years
ended Dec. 31,1879—covering only and applies only to California business. It is understood that the
steamship company is to inaugurate a sinking fund of $10,000 per
eight months actual operation—gave the following figures:
Little

report of operations for the year

$1,346,606
$306,370
850,000
26,000—1,182,370

receipts

Ore

Total expenses

Dividends paid

and charges
.

Real estate purchased.-

$164,236

Suiplus

To the surplus should be added about $40,000 due for ore delivered and
unsettled for during the year. There were 23,187 tons of ore produced,
from which a bullion product of $1,800,000 was estimated. Officers:
Hon. Jerome B. Chaffee, President; D. H. Moffatt, Jr., Vice-President;

George C. Lyman, Secretary;
Colorado. (V. 30, p. 67.)

Mariposa Land <&

time to time.

Joseph C. Wilson, General Manager,

month out of the subsidy money, which will more than liquidate the
debt due the Panama Railroad maturing in annual instalments from

October, 1884, to October, 1888. The railroad companies purchased the
China line steamers City of Pekin and City of Tokio for $1,200,000,

payable in monthly instalments of $100,000, the purchase being sui jeot
to an inspection of the steamers within 90 davs; and the Pacific Mail

Company gave up to the Union and Central Pacific railroad companies

its China line.

(V. 30, p. 249.) Report for 1878-9, V. 23, p. 552. (V.
28, p. 42, 97, 402, 552, 554, 580; V. 29, p. 512.)
Pennsylvania Anthracite Coal.—Stools and bonds admitted to N. Y.
Stock Board Feb., 1877. Company failed Feb., 1879. (V. 24, p. 112.)

Pennsylvania Coal.—Liabilities at a minimum, and large dividends are

Mining.—Assessments made on the shares from paid.

Pullman Palace Car.—Annual report V. 29, p. 329. The sterling
bonds of 1875, of which the whole issue authorized is $1,000,000, are
Maryland Goal.—V. 24, p. 226; V. 26, p. 95.
The income account for year
New Central Coal (Maryland).—The annual report for 1879 has the convertible into stock till April, 1881.
ending July 31, 1879, showed total receipts of $2,196,734, against
following:
which were charged the following disbursements :
Coal Mined in 1879—
Tons.
From Koontz Mine
149,743*02 Operating expenses, including legal expenses, general taxes
and insurance, maintenance of upholstery and bedding
From Big Vein Mine
139,666*16
(including leased lines), and rebuilding association cars....
$958,465
From Midlothian Mine
43,329*02
.

332,739*00
352,847*14

Total....
Mined in 1878

20,108*14

Decrease

Tons.

Tons.

Coal mined
Cold mined
Coal mined
Coal mined
Coal mined

in
in
in
in
in

1872...
1873...
1874...
1875...
1876....

304,188-19
285,135-09

243,186*05
258,851*01
240,233*02

345,177*15

Coal mined in 1877...
Coal mined in 1878...
Coal mined in 1879...

352,847*14
332,739*00

2,362,359*05

Total

31, 1879.

$1,053,712
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—
64,965
December

$1,118,678

railroad and canal freights and tolls,
mining, office and shipping expenses, salaries and interest ..

Deduct amount paid for

loss during’79

$100,000

1,036,787
$81,890
$244,530

earnings for the year
Balance to credit of profit and loss December 31,1878
Net

11,905—

111,905
$132,624

Add-

Net

earnings for 1879.

Balance to credit of

profit and loss December 31,1879

Note.—The strike of the miners, lasting from September

8, caused

a

Dividends

81,890

$214,515

1 to October

suspension of mining during that time, increased the cost of

on

264,000

$165,890

capital stock

471,056—

Total

636,946

$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:
.

STATEMENT OF PROFITS FOR THE YEAR ENDING DECEMBER

Deduct—
Dividend paid January 22,1879
Amounts charged against profit and

Rental of leased lines
Coupon interest on bonds

Interest,
Revenue.

Expenses.

$2,558,647
2,555,011

$983,346

Profits.
rentals, &c.
Surplus.
$1,575,301 $550,357 $1,024,944
1.564,801
514,269
1,050,532
1,585,567
493,579
1,091,988
1,282,252
451,866
830,386

990,210
2,570,63*
985,072
2,160,830
878,578
958,465
1,238,269
2,196,734
429,890
-(V. 26, p. 217; V. 27. p. 302; V. 28, p. 200; V. 29, p. 329.)

Quicksilver Mining.—Bonds paid off July, 1879.

stock sustained by

N. Y. Court of Appeals.

808,379

Validitv of preferred

(V. 27,

p.

$28;

V. 29, p.

302.)

St. Louis Bridge—Net income in 1876-7, $219,777; 1877-8, $219,59a ;
1878-9. $269,697. The railroad and tunnel were sold under the mort¬
gage of 1873, July 1,1878. for $450,000. Foreclosure under the first
ana second mortgages on the bridge was made December 20,1878. The
above mortgage and $7,990,000 in stock are issued under the reorgan¬

ization.

Of the stock $2,490,000 is first preferred, $3,000,000 second

preferred, and $2,500,000 common. The coupons due October, 1878,
1879 and 1881 on first mortgage bonds to be made in same bonds in
April, 1881. (V. 26, p. 420, o*z*l; V. 27, p. 17, 227, 435, 461, 677; V.
28, p. 224; V. 29, p. 196.)
*
Spring Mountain Coal Co.—This is guaranteed 7 per cent per year till
1885 by Lehigh Valley Railroad.
Standard Consolidated Mining—This company was incorporated
California, April 7,1877.

The property embraces an
parallelogram 1,200 by
Vice-President; Philo C. Calhoun, Treasurer; Geo. H. Adams, Secretary. 1,500 feet, situated on the southern slope of Bodie Bluff, in the Bodie
mining district, Mono County, California. Title, United States patent.
(V. 26, p. 536; V. 30, p. 220.)
Improvements consist of a 20-stamp steam pan-mill of 60-ton capacity,
Ontario Silver Mining.—This company was incorporated under the valued at
$100,000. Also a half interest in the Bulwer Standard Min,
laws of California, December 16, 1876, with full paid capital stock of
completed in January, 1880, at a cost of about $150,000. This is a 30100,000 shares of $100 each. The property is located at Parley’s Park, stamp mill of 90-ton capacity, giving the Standard Company, with their
32 miles southeast of Salt Lake City, Utah, and consists of the Ontario own
mill, a reduction capacity of over 100 tons per day, There are two
mine, 1,500x200 feet, the Switzerland, 1,500x200 feet adjoining east, sets of steam hoisting works, one costing $5,000 and the other something
and mill site of three acres adjoining north. On January 26, 1877, the over
$100,000. The total number of tons of ore extracted and reduced
40-stamp mill of the company was completed. From that time up to up to Jan. 1,1880, was 56,000, the yield from which being $3,360,000,
January 1,1880, the Ontario produced bullion to the value of $5,447,- all with the exception of about $200,000 being in gold; the ore averages
885, from which it paid all expenses; dividends to the amount of $60 per ton. Cost of mining, $7; milling, $5 per ton. The average
$2,550,000; made permanent improvements of over $1,000,000 in monthly product recently has been $130,000. Of the total product of
value, with a handsome cash surplus and over 3,500 tons of ore, that the mine stockholders had received in dividends to January 1, 1880,
will average $150 per ton, on hand on that date, f The equipment is verv
$2,017,776. The entire width of the claim—1,200 feet—is said to be
complete and affords facilities for mining t6 a depth of 1,500 feet. All seamed with well-defined parallel ledges, varying in width from two to
product had been from som% 1,300 feet of the Ontario mine alone, and twenty-five
feet. Office of compaay, San Francisco, Cal. President.
above the 600-foot level. The product for December, 1879, was about Daniel
Cook; Vice-President, M. R. Cook; Secretary, William Willis.
$165,000. The monthly dividends have been 50 cents per share, with Financial Agents, Dickinson Bros., Bankers, 43 Exchange place, N. Y.
frequent extra dividends of same amount. New York office of the com¬
Sutro Tunnel.—Tunnel on Comstock Lode for facilitating mining oper¬
pany, 31 Broad street. Officers: J. B. Haggin, President; R. P. Lounsbery, Vice-President; J. K. Goodrich, Secretary; H. B. Parsons, Assist¬ ations. New management elected March, 1880. See V. 30, p. 249. (V.
27, p. 529; V. 28, p. 147, 224, 302; V. 30, p. 249.)
ant Secretary.
United States Express.—No reports.
Oregon Railway <6 Navigation.—Stock and bonds placed on New York
Stock Exchange list Nov., 1379. (V. 29, p. 512.)
United States Rolling Stock.—See reports, V. 26, p. 289; V. 28, p.
Pacific Mail Steamship—In February, 1880, an agreement was re¬ 145;
Wells, Fargo <6 Company Express—An increase in capital to $6,250,*
ported. between this company and the Pacific Railroads, by which the
railroad company is to give to the steamship company a monthly subsidy 000 was made in 1879. (V. 28, p. 18.)

the coal, and reduced the company’s production and profits for the year.
Officers for 1880: Malcolm Sinclair, President; William S. Jacques,




under the laws of
area

contained within the surface lines of a

V

MISCELLANEOUS
Subscribers will confer

a

great favor by giving

For

'

""

"

BONDS.

[VOL. xxx.

immediate notice of any error discovered in these Tables.
Bonds—Princi¬

INTEREST OR DIVIDENDS.

DESCRIPTION.
'

*

AND

STOCKS

V

explanation of column headings, &c., see notes on first
page of tables.

Date
of
Bonds

Size,

or
Par
Value.

681
81
97
2
3
56794
Western Union Telegraph—Stock
Real estate bonds, gold, sinking fund

1872

Bonds, coup, or reg., conv. till May, ’85, sink. fd. 1 p. ct.
Sterling bonds, coupon (sinking fund 1 p. ct. per annum)

1875
1875

Amount

Outstanding

Rate per When Where
Cent.
Payable

$100 $41,050,000 1\&1 ex
1,373,000
1,000
z*
3,920,000
1,000
6 g.
JBlOO&c
981,234

5 Q.-J.

pal,When Due.

Payable, and by
Whom.

New York, Office.

Stocks—Last
Dividend.

Jan.

15,1880

M. & N. N. Y., Union Trust Co.
May,
M. & N. N. Y., Treasurer’s Offloe
May,
M. & S. London, Morton, R.& Co March

1902

1900
1,1900

*

Western Union Telegraph—On the practical consolidation with the
Atlantic & Pacific in 1878 the Western Union had a monopoly of tele¬

graphing business in the United States. In 1879 the American Union
opposition line was started under the auspices of Mr. Jay Gould. The
Western Union Co. divided up its surplus stock, making a scrip dividend

cent to stockholders of record June 20,1879. The last quarter¬
ly statement for quarter ending April 1, 1880, had the following:
of 17 per

Surplus Jan. 1, 1880.
Net profits for the quarter ending Dec. 31, estimating the
business for December (reserving amount sufficient to
meet the claims of the Atlantic & Pacific Telegraph Co.,
under existing agreement), about

$1,107,927

Total
From which appropriating—
Interest on bonded debt

$2,432,988

$107,200

480,000

Construction, patents, &c

Sinking fund appropriations
Leaves a balance of
A dividend of 1%. per cent

1,325,071

20,000—

717,560

Deducting which, leaves surplus, after paying dividend, of.

$1,108,238

annual report published in the Chronicle, Y. 29, p379, the following was given for the fiscal year ending June 30, 1879:

From

the

last

The revenues, expenses and profits (after reserving amount sufficient
to meet the claims of the Atlantic & Pacific Telegraph Co. under exist¬

ing agreements) were as follows:
Revenues accruing to this company
Expenses chargeable to this company
Net profits
From which there was applied—
For four quarterly dividends
For interest on bonds
For shaking funds appropriations

Balance

537,166— $820,620
$4,269,778

together with the 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,

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
an

aggregate June 30, 1879, of

$275,357
40,203,602

$40,478,958

During this period there was applied—
For dividends, interest, &c

24,947,792

$15,531,167
Leaving a 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
Net
Miles of No. of No. of MesYears.
Line.
Wire. Offices. sages Sent.
Receipts.
Receipts.
1866.;.... 37,380
75,686 2,250
46,270
50,183
52,095
54,109
56,032
62,033
65,757
71,585
72,833
73,532
76,955
81,002

$4,269,778

$2,295,304
430,528

40,056

—(V. 28,

;•

p.

82,987

85,291 2.565
97,594 3,219
104,584 3,607
112,191 3,972
121,151 4,606
137,190
154,472
175,735
179,496
183,832
194,323

5,237
5,740
6,188
6.565
7,072
7,500

206,202

8,014
8,534

211,566

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

6,568,925
,624,919
7,004,560 2,641,710
7,316,918 2,748301
7,138,737 2,227,965
7,637,448 2,532,661
8,457,095 2,790,232
9,333,018 2,757,962
9,262,653 2,506,920
9,564,574 3,229,157
10,034,983 3,399,509
9,812,352 3,140,127

23,918,894

9,861,355

3,551,542

25,070,106

10,960,640

4,800,440

277, 592; V. 29, p. 278, 379, 461,632; V. 30,p. 193.)

l!!
jh




145,134

683,268

5,809,119

$1,503,888

„

payment of balance unpaid July 1,1878,
on account of purchase of Atlantic & Pacific
Telegraph Co.’s stock

$2,765,889

propriations

stocks,

patents, &c

$10,078,897

dividends, interest and sinking funds ap¬

$138,319

sundry telegraph

For

Leaving surplus of net revenue for the year
#ver

surplus there was appropriated—

additional wires
For purchase of

607,200 Making

$1,825,798

requires

From which

For construction of new lines and erection of

$.