Full text of Commercial and Financial Chronicle : March 26, 1887 : Investors' Supplement, Vol. 44, No. 1135

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C ommercial & ¡Fin a n c ia l C hronicle.
[Entered according to act o f Congress, In the year 1887. by V m. B. Daw a .* m
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* °* uaxia < lo ., in tne onice o f the Librarian o f Congress, Washington, D. C.]
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VOL. 44

NEW YORK, MARCH 26, 1887.

IN V E ST O R S’

SUPPLEMENT.

T3E

TERM S:
Th®' S u pple m e n t is published on the last Saturday of every other
month—viz., January, March, May, July, September and November*
and one copy of each issue is furnished, without extra charge, to all
regular subscribers of the Co m m e r c ia l a n d F in a n c ia l C h r o n ic l e .
Additional copies of any issue are sold to subscribers at 50 cents each
and to persons not subscribers at $1 each. No subscriptions are taken
for the I nvestors ' S u p p l e m e n t apart from the Ch r o n ic l e Annual
subscription price to the C h r o n ic l e , including the I n v e s t o r s ’ S u p p l e MENT, IB <plU a Ui

W IL L IA M
79

B . D A N A & CO ., P u b lis h e r s ,
81 William Street, New York.

R A ILRO AD M A PS IN TH E SU PPLE M E N T.

S T A T U S A N D P R O S P E C T S OF SOM E
R E O R G A N IZE D R A ILR O AD S .
A number of re organizations have recently been
effected, or are now in progress, involving important
changes either in the status of the companies or the char­
acter and prospects of their securities. To a few of these
we refer below. It is not intended to give the details of
reorganization, but simply to point out the leading feat
ures or main peculiarities of the new arrangements, and
to inquire into the prospects of the present stocks and
bonds under the new condition of affairs.

The railroad maps now published in the S u p p l e m e n t
include the follow ing roads.

ATLANTIC & PACIFIC RAILROAD.

The status of the new Atlantic & Pacific 4 per cent bonds is
Ma p .
quite different from that of the old 6 per cent bonds of the
Alabama Qreat Southern. fSee Cincinnati N. 0. & T. P ...................
same company. The new bonds have the direct guarantee of
Atchison Topeka & Santa Fe
15
B lito o re & O h io '
Topeka & S ^ ta
" II" " TJI I f:!! 15 the two sponsor corporations, the Atchison Topeka & Santa
Fe and the St. Louis & San Francisco, each for one-half the
Canadian Pacific.
................................................ . **.......18
principal and interest, while the old bonds had no guarantee
C ed S F ^ & M ton :
«
whatever, the only obligation on the part of the two parent
g>
klA
................ .......... .........................
companies being that ea *h obligated itself to pay over to the
Chesapeake & Ohio
25
Chesapeake Ohio & Southwestern.’ ........................................................ 25 Atlantic & Pacific, for the purpose of meeting interest, when
See Chesapeake & Ohio...............
Chioago Milwaukee & St. Paul................
Q
O
Chicago & Northwestern.................
oq such a course was found necessary, a rebate equal to 25 per
Chicago St. Louis & Pittsburg. ’ See Penn! RR...................................... an cent of the gross earnings on all business to or from the
Atlantic & Pacific, and passing over either the Atchison or the
aucfngnatiIndlU^poÜ8& t ° L Ä /chFcag'o80 &
S
f
St. Louis & San Franci-co.
It is easy to see that the old arrangement was unsatisfac­
Colorado Central. See Union Pacific........
" ,................... ¿2 tory *2, aPy ev?ut, and especially so as the earnings of the
Columbus Hocking Valley & Toledo.:.
................." .................... o§ Atlantic & Pacific fell far short o f lUGOtm^ tho 6 per cent
Detroit Bay City & Alp e n a ........ . . " ................. ....... : ......................... ?g interest On the bonds out, while even after the payment of the
................... *............................ H rebate a very large deficiency was left. No report of the
Duluth South Shore & Atlantic.....
Atlantic & Pacific s operations for the late year has yet be?n
published, but we may take for illustration the results for
1885 In that year the net earnings of the Western, or main
* • 0lM- *
„
Fort Worth & Denver City.....
.....................................................
Dir!L Onc, ereT
w
,$240>
879’ and the contribution of the Atrhisoil
& 8an A“ Ä * ' Nee Southern Pacifli.............
and the San Francisco on account of the rebate above mentioned, was $31,000, making a total net income of only $571 lä fS Ä iS S S S S * • « —
............ w
S 5 “ o f n S a80eM1'“ 1- * • äouthem p ä i ä i : '. : :'. ; : '. - ; ; : :: ; : : : ; ; ; ; »1 873. Leaving out of consideration altogether all oth r charges
against income, interest alone on the 16 millions Western
Division bonds (at 6 per cent) would call for $960,000. But
this was not all. The rebate, according to the contract, was
^f.o^ucky Central. See Ches. & Ohio
........................................... n i i a i re§.art*®d * in the nature of a loan, to be returned by the
Atlantic & Pacific Company with interest.” Thus a large
Louisville New Orleans &’ Texäs'.'.'.'.'.’ .............................. .................. •
floating debt was piling up against the company, and in this
MUwaukee ^Northern’ * * EaSt Tennessee Virginia '¿Georgia'
45
End other ways the advances by the two companies were
Northwestern.';:;;..............................................................
increased, so that at the end of 1885 the amount of the same
K o S r i S C &Texaa- S
e
e
t l stood at $4,821,356 The chief difficulty, however, was that no
Mobile & Ohio............................................................................................ 66 one could tell how long the deficit (beyond the amount of the
rebate) would be made go >d. The Atchison and the San
New Y O T k U cia w a M a ^ w Louis. See Louisville & Nashville. . . . . .
Francisco were both deeply concern A in the Atlantic &
Pacific, but they were not legally bound to make any advances
beyond the amount of the rebate, and the question was how
long, with such a large annual deficit, would they continue to
take upon themselves the responsibility of paying the interest
on the Atlantic & Pacific bonds. It was p S b l f that a pSut
Philadelphia & Erie, ’¿ee Peim' RR........................................................ 80 might be reached where it would be deemed better to abandon
Pittsburg Cincinnati*.
< u m o ....................... 18 the money already sunk in the enterprise rather than invest
s
Pitts/miS ^ r , ; ? natl <* St. Louis. See Penn. R R
....................... 5°
PitSh, ^
& Chicago. See Penn. R R ....................................... So any more m the same way. A compromise agreement, there­
RR
fore, like that entered into, by which the bondholders accept
a lower rate of interest, and in return get a direct guarantee
st. j e u i s ' Ä T Ä 8ee Louisvllle & ä
: : : : : ; : : : : : ss
H Louis Arkansas & Texas..................................................................... 88 able 61r b0nd8’ Was a necessifcy>and wa8 alike fair and reasont.

ftäjpr1
^

If

ft
f
t

90
Toledo 8t,0£ ^ e S s Ä t v 1UmbU8 H ockiüg-väüeV&To'iedö;;;: |J
&
f
e
»
^ M ^ o u r T p 'Ä '. - . V . V . " ........................ *............ l ì
Union p Ä ^ or & No rtb Mich.......................;; ; ; ; ; s ; ; ; " ; : ; ; ; ; ....... g f
ütab £eM : « ¿¿n id o n p ^ cM i;;;;..................... ..................... — — • 88




As regards the location of the road, it is of course known
that the line forms an important link in the Atchison’s Pacific
through route. What is called the Central Division extends
from Seneca, Mo., to Sapulpa, Ind. Ter., about 112 miles, and
is operated by the St. Louis & San Francisco. It is the West­
ern Division however, that is of most importance, and which
forms the link in the through route. This Western Division
extends from Albuquerque, New Mexico, to the Needles at
the Colorado River, about 560 miles. In addition the Mojave

9

INVESTOKS’

division of the Southern Pacific, extending from the Colorwio
River to Mojave, 243 miles, is operated, making a total of «80
miles, and branches and other small pieces increase this to
818 miles. The Mojave Division is to be ultimately purchased,
but for the present is leased at 6 per cent on. $30,000 per mile,
or about $433,000 per annum, the rental being guaranteed by
the Atohison and the St. Louis & San Francisco.
The new bonds are limited to a total of 20 millions, and will
include both the bonds of the Central and the Western
divisions, the interest charge on the total issue thus aggre­
gating $800,000 per year. *As security for the new bonds, the
old bonds are to be neld in trust by the trustee, the Mercan­
tile Trust Company. The bonds run till January 1, 1937, are
navable in gold of the present standard, and coupons fall due
January 1 and July 1, holders however having the privilege
of registering the bonds. The right is reserved either to the
Atlantic & Pacific, or the Atchison, or the San Francisco to
purchase in any year on any interest due date, at 105 and
accrued interest, any or all of the bonds.
The guarantee
applies to both principal and interest^ but not more than naif
the amount to each company, the exact wording being:

[V ol. XLIY.

SUPPLEMENT.

it For a valu able consideration we hereby agree to pay to toe holder
of the coupons of this bond as they fall due prior to January 1,1905,
and up to J anuary 1, 1905, interest at toe rate of 4 per cent per
annum.”
'j

.

In the case of the incomes,
P®r cent ** t^ rate. of iQtor.
ie
eat, besides an agreement to pay the deferred scrip when it
falls due.
•

CHESAPEAKE < OHIO RAILWAY.
fe

The proposed reorganization o f this company involves two
classes of bonds, the so-called currency or second mortgage
bonds and the 1st mortgage series “ B ” bonds. The currency
bonds are really a species of income bonds, as the payment of
interest in cash depends upon earnings, though coupons if
not paid in cash are payable in 2d preferred stock. Main
interest therefore attaches to the class “ B '* bonds, These are
entitled to 6 per cent in cash each year, but for some years
have hmi to content themselves with much less; and the en­
forcement of the right to full payment is really impaired by
the provision in the mortgage according to which fore­
closure can only take place after some interest on six
successive coupons is in default. The proposition now is
for holders to accept a reduction of interest from 6 to 4
“ The Atchison Topeka & Santa Fe Railroad Company and
per cent per annum, and in return for this concession to
Louis & San Francisco Railway Company, severally, b^t not Jointly, receive 25 per cent bonus m the stock of the Newport
guarantee each the payment of one-half part of the principal and inter­
News & Mississippi Valley road, and also to have the life of
est of the within bond as the same shall mature.
It appears that if there is any default in interest, the trustee, the bonds extended for 78 years, or till May 1, 1986. In the
the currency
at the written request of a majority of the bonds, is required case ofaltogether and bonds, holders are toofsurrender their
accept 125 per cent
the amount in
to sell so much of the old mortgage bonds held in trust as may bonds
be necessary for the purpose, and apply the proceeds to the the stock of the Newport News & Mississippi Valley, the
Newport News being
under
payment of the interest so in default. There is also a pro­ lease, the Chesapeake &the company which operates, SouthOhio, the Chesapeake
&
vision according to which if one of the guarantors fails to meet wesern, and the El zabethtown Lexington & Ohio Sandy—in
Big
its guarantee, the other guarantor may succeed to its rights on
roads embraced in the Huntington com­
paving the arrears ; but in such case the party in default is other words, the Newport News on the Atlantic and Mem­
not to be held blameless for any injury or loss arising from its bination between
failure to perform its part of the contract. The guarantor so phis on the Mississippi. “ B ” bonds, the matter presents itself
To the holders of class
in default, however, can be restored to its rights and privileges
on reimbursing the other guarantor in full any time within in this way. Is the reduction in interest a necessity, and will
received
full equiva­
five yeats after the default, interest to be calculated at 12 per the 25 per cent bonus in stock to be also for be apossibility of
lent for the concession asked and
the
cent per annum. The following is the section in fu ll:
growth in the future which might make the full six per cent
“ Incase such default for one year shall be caused by the failure of
either of the guarantors to fulfil its contract of guaranty, the other an assured fact. Mr. Huntington argues that a bond bearing
laarantor. not being in default, may elect to pay the interest then In only 4 per cent, whose interest is certain to be paid, will com­
arrears and to astume the future performance or the contract of guar­ mand more in the market than the same bond would bearing
antor of said defaulting guarantor, and thereupon said defaulting guar­ 6 per cent interest, but the ability to pay which in full was in
antor shall be bold to have released to the other guarantor not In
default, and so electing, all its right and Interest to and In the mortgage doubt, and unquestionably there is force in the argument.
hands received In exchange for said four per cent bonds, and deposited Mr. Huntington also refers to the West Shore 4s selling at 103
as security with the trustee. Buoh tlection shall be manifested by a as evidence that the Chesapeake & Ohio 4s would bring a good
S it in g addressed to and served upon the trustee, and shall be accomnanied by a deposit with the trustee of money sufficient to pay all tnter- price in the market. The analogy, however, is hardly close,
Bst then m arrears. Thereupon said trustee shall thereafter hold suoh The West Shore is not dependent upon its own earnings—it
mortesge bonds subject to the terms of the trust in favor of the holders has the guaranty of a strong and powerful corporation, whose
of safd 4 per oe nt bonds and of said Atlantic Road, but other wise f or credit is equal to that of any other railroad oompiny in
toe sole account and benefit of the guarantor electing as aforesaid,
which said guarantor shall thereafter have and enjoy all the rights and the land. On the other hand, the Chesapeake & Ohio bonds
nowers by tnls indenture, or the indenture hereto annexed, belonging to will have no guaranty whatever—not even that of the New­
o ? veiled in both said guarantors. Notwithstanding such election, and port News & Mississippi Valley. The only endorsement they
toe consequent determination of its interest in said mortgage bonds,
the guarantor so in default on said oontract of guaranty snsdl renmin will have is as follows :
liable thereon to any party in interest, and shall also remain liable to
the otoer parties hereto, and each of them, for all loss or i^ury arising
from the milure to perform the said oontract of guaranty, or to fulfil
anv*1of the provisions of this indenture, or of the indenture hereto
annexed. But the guarantor so in default shall be restored to and have
aSd enjoy all its fo: mer rights and Interests to and in the said mortgage
bonds so received and deposited with s«id trustee, upon the payment or
tender of payment at any time within five years after suoh default, but
not there alter, to the other guarantor, as compensation and pea^Hy» of
a sum equal to toe sum or sums whioh such other guarantor shall then
have mud in the performance by it of tbe oontract or guaranty of said
defaulting guarantor, and an additional sura equal to 12 per cent per
annrnn upon the sum or sums thus paid by said other guarantor.”
V e r y little information about the company’s earnings and

income is furnished. No report for the year 1885 has ever
been published, the figures used above having been taken from
Poo/a Manual. Now that the interest is guaranteed, and the
guarantors are both solvent corporations of prominence, the
Question of earnings has not that importance either that it
had formerly. Still, it is interesting to observe that if current
rumors are to be believed, the company s earnings
are now showing a very large increase.
DES MOINES & FORT DODGE RAILROAD.

The bonds of the Des Moines & Fort Dodge, both the 1st
series and extensions, and the incomes, are now to have cer­
tainty of interest payments, through the agreement with mid
lease to the Rock Island. The Des Moines & Fort Dodge has
repeatedly been in financial difficulties, and the coupons due
in 1885 and 1886 were, as a temporary expedient, paid only
half in cash, the other half being funded into certificates payable after three years. The trouble with the road has not been
anv falling off in business, but the increase of competition
and the reduction in rates. The 1st series bonds and the
income bonds are secured by the same mortgage, but while
interest on the former is obligatory, on the latter it is depend­
ent upon earnings. The agreement now made w iththeR ock
Island provides for a reduction of interest on tiie $1,200J)00
lstB from 6 to 4 per cent, and the same on the $672,000 of
extension bonds, while the incomes are to get %% per cent
yearly. The lease is for 19 years, be.ng the life of the bonds,
and by its terms the Rock Island is to operate the road at a
rental of 80per cent of the gross earnings; such rental, how­
ever. to be sufficient to pay the reduced rates of interest men­
tioned above. The Rock Island also agrees to take up the
deferred interest certificates (representing unpaid coupons) as
they fall due. The income bondholders, besides accepting a
lower interest rate, surrender the voting power heretofore
bald jjy them. As stamped on the 1st mortgage bonds, the
Rock Island’s guarantee reads as follow s:




“ By agreement with the holder thereof the maturity of this bond has
been extended to May 1, 1986, and the rate of interest thereon from
Mav 1. Is86, reduced to four per oeut per annum, payable semi-annu­
ally to such date of maturity. C. P. H u n t in g t o n , President.”

With regard to the ability to pay 6 per cent, however, it is
undeniable that earnings in recent years have not been suffi­
cient to meet the full amount and to pay besides interest on
floating debt and such other oharges as have oome in for pay­
ment ahead of this mortgage interest Whatever we may think
of the propriety of giving floating oreditors a priority of lien on
earnings over mortgage creditors, the fact remains that that
is the course which has been pursued. In 1885 net earnings
were $988,633 (including $1,588 miscellaneous income). Against
the same there was charged $124,739 as interest oh floating
debt, $14,094 for miscellaneous expenses, $91,652 fqr taxes,
$49 710 for interest on the equipment trusts, and $379,260 for
interest on the series “ A ” bonds, and the bonds of 1898,1911
and 1922—leaving only $329,178 towards paying the $900,000
required at 6 per cent on the 15 millions “ B ” bonds. As 3
per cent was actually paid, there was a deficit even on that
basis of $130,822. But it is only fair to say that the 1885 net
earnings were unusually small, and that in 1886 there was a
decided improvement. Here are the gross and net for four
1886.
Gross earnings..............
Operating expenses........
Net earnings..............

1885.

1884.

1883.

$
$
$
$
4,096,048 3,361,235 3,538.605 3,906,792
2,867,983 2,374,160 2,462,720 2,553,493
987,075 1,076,885 1,353,299
1,228,065

This shows a very heavy gain in 1886, the net having been
increased $241,000, to $1,228,065; against this the charges
ahead of the «• B ” bonds on the basis of 1885 would be $boi,867, leaving a balance of $570,198—nearly sufficient to pay
the $600,000 oalled for at 4 per cent on the “ B bonds, put
much below the $900,000 required at 6 per cent As to the
difference in price between the old 6 per cent and the extenaea
4 per cent bonds, the latter sell at 73 and the former bring about
77, it is difficult to say what the Newport News stock which tne
old bonds are to get is worth, but in the offer to the currency
bondholders the company has apparently placed an estimate
on the same. These currency bonds selling at 27@2p are w
iret 125 per cent in the Newport News stock, and on this pas»
the latter would be worth about 22. At 20 the $250 of stoc
to go with each $1,000 6 per cent “ B ” bond would bring »W*

M ar c h , 1887.]

INVESTORS’

SUPPLEMENT.

LAKE ERIE < WESTERN.
&

The reorganized Lake Erie & Western Company is a very
simple affair. There are to be 430 miles of road, bonds to
amount of $4,300,000 ($10,000 per mile), and stock to amount
of $8,600,000 common and $8,600,000 preferred, being each at
the rate of $20,000 per mile. By the foreclosure all the old
securities of course were wiped out, and as the car trusts were
to be paid off, the new 1st mortgage will be the only lien on
the entire property. Not only will the new bjnds bear but 5
per cent interest, but the total amount of the same will be less
than the aggregate of the old Ists. 'Of the latter, there were
$1,815,000 of Lake Erie Division lsts, $837,000 of Sandusky
Division lsts and $2,500,000 of Lafayette Bloomington & Muncie lsts, or $4,643,000 altogether. The total of new bonds author­
ized, as stated, is $4,300,000, and that will cover the whole 430
miles of road, including the extension to Peoria. On the sys­
tem complete, therefore, the first charges will be $215,000. As
to the earnings, these ought to increase, first as the result of
the taking of the road out of the hands of the receivers, and
secondly tLe Peoria extension when built ought to contribute
to that end. No satisfactory account of the operations of the
road during the last two fiscal years (ending June 80) has been
given out. A telegraphic abstract of the figures filed with the
Ohio Railroad Commissioners showed for the year 1885-0 gross
earnings of $1,194,010, with operating expenses $1,009,274, and
rentals $30,574, leaving net of $154,163, In 1884-5 the net
were given at $172,367. For the years preceding we have
regular pamphlet reports, showing for 1883-4 $1,264,194 gross
and $259,765 n e t; for 1882-3 $1,503,523 gross and $73,999
net; and for 1881-2 $1,424,013 gross and $269,933 net.
Present gross earnings are exhibiting improvement over
those of the previous year, the total from July 1 to March 14,
being $1,004,797 in 1886-7 and $870,049 in 1885 6, an increase
of $134,748. When the extension to Peoria shall be in opera­
tion, of course further gains should follow.
The arrangements for the purchase of the Indianapolis
Peru & Chicago were nude as the S u pplem ent was going to
press, and are not embraced in the above.
NEW YORK CHICAGO & ST. LOUIS.

The plan for the reorganization of the Nickel Plate is of
such recent date that its main features are pretty well known.
The 50 millions capital stock of the old company has been cut
down one-half, and is to be represented by 14 millions of new
common stock and 11 millions of second preferred. In addi­
tion there will be 5 millions of first preferred stock to cover
the 10 per cent cash assessment required of the old holders.
There will be but one issue of bonds, namely, a 20 million 50year 1st mortgage, covering all.the property of the company
and bearing 4 per cent interest. Old first mortgage bond­
holders get 112 per cent of the principal of their bonas in
the new bonds, with interest at 4 per cent from the 1st of
December, 1886, to the date of the new bonds. Second mort­
gage bondholders get
per cent in the new bonds and
interest in the same way. Stockholders receive 50 per cent of
new stock and pay an assessment of 10 per cent in cash—in
the case of the holders of preferred stock, the new stock to
be given in exchange will be 2d preferred, and in the case of
the common stock it will be common, as now. For the cash
assessment, as already indicated, 1st preferred stock is given.
All the different classes of stock—1st preferred, second pre­
ferred and common—will be entitled to non-cumulative divi­
dends (if earned of course) at the rate of 5 per cent per
annum, and they will take preference in the order named.
Any surplus above 5 per cent on the three issues, to be divided
equally. It is provided that “ neither the first nor second
preferred nor common stock shall be increased except by
the concurrent consent of a majority of each o f the three
classes then outstanding, and no lease of the main line of
railway of said new company shall be made without the con­
sent of three-fourths of each of the said three classes of
stock.” The first mortgage is to cover the rolling stock and
equipment as well as the road, and all properly and franchises
to be hereafter acquired. There is a provision for a sinking
fund of $100,000 per annum (to be a first charge after the pay­
ment of interest on the bonds), but such sinking fund is not
to be provided in any year when the company shall not have
earned at least $900,000 over operating expenses, nor if the
bonds cannot be purchased at 102 and accrued interest.
With interest of only $800,000 per year, the position of the
company ought to be a good one. Running between Chicago
flu uU a*°’ moreover> there ought to be no question as to
,?
the ability of the company to meet the charge. Still, it is not
to be forgotten that the same arguments were used to show
the strength of the old firsts, and yet they were allowed to go




3

to default. As evidence, however, of what the road can do
under fairly good conditions, the earnings in 1895-6 of $3,595,169 gross and $763,286 net (the latter alter deducting no less
than $415,066 charged for rentals, taxes, etc.), may be cited.
The new bonds will not be guaranteed by the Like Shore, and
yet the road willjbe largely dependent upon the favor o f the
Lake Shore. _ This latter is really the weak point in the Nickel
Plate securities. The Lake Shore, remaining in control, has it
in its power, now as before, to make th i earnings large or
small. It can divert traffic from its own line, or from the
Nickel Plate. To be sure, owning so large an amount of
Nickel Plate stock, in any dividends paid it would get its
share. But as it does not own all the Nickel Plate stock,
some of the money for dividends would go to outside holders.
However, the Lake Shore is interested in seeing the Nickel
Plate earn enough to meet fixed charges, for otherwise it
would lose control of the road.
TOLEDO ST. LOUIS & KANSAS CITY,

Special interest in this company is felt because it is a reor­
ganization of an old narrow gauge system, now to be changed
to standard gauge, and because it forms a complete line be­
tween St. Louis and Toledo, and application to the New York
Stock Exchange will probably soon be made for the listing of
its securities. In view of its geographical location, it might
answer as an eastern outlet io the Western Wabash lines
should these be severed from the Wabash Eastern lines. The
new company has been organized on such a basis that there
should be no danger of a repetition of the unfortunate and
disastrous experiences of the old Delphos and Toledo Cincin­
nati & St. Louis companies. The Toledo St. Louis & Kansas
City will have only one issue of bonds, namely, a first mort­
gage for $9,000,000 ($20,000 per mil»'}, bearing 6 per cent inter­
est. In addition there will be $4,805,000 of 4 per cent pre­
ferred coupon stock (representing the old Toledo < St. Louis
fc
and Toledo & Delphos 1st mortgages), and $13,250,000 of com­
mon stock. The new bonds have been issued in blocks, a
bonus of ten shares of common stock going with each $1,000
of bonds and the holders of the coupon stock having the
privilege of taking a block for $1,000 in casfi.
There is, of course, no basis of earnings as yet on which to
make a comparison of the oharg»^ with income, but as the
total issue of bonds will b i $9,000,000, the annual interest
charge will be $540,000. W e may contrast this with the debt
and charges of the Wabash on its pieces of road between Tol­
edo and St. Louis, as below. An exact comparison is not
attempted and cannot be made, because some of the mortgages
cover parts of road not forming links in the route to St. Louis,
but we have apportioned them as nearly as possible to repre­
sent the mileage included.
Wabash Mortgages,
Line Toledo to St. Louis.
Toledo & Illinois................... 1st mort..
( Toledo to Indiana Line) 2d mort
Labe Erie Wab. < St. Louis.. 1st mort
fc
(Ohio Line to 111. Line)
2d mort
Great Western of 1859 ___1st mort..
(Ind. Line to Naples)
2d moit
Decatur < East St. Louis_ 1st mort..
&
_
(Decatur to E. St. Louis)
Less proportion of Great Western no
on St. Louis route................................
Net total, 1st and 2d m ortga ge...
Tol. Wab. & West, consol, (in o portion
on at. Louis line).................................
Wabash moit. of 1879 (proportion ou
St. Louis line)...................................
Funded debt bonds and scrip (propor
tion ou St. Louis line)........................
Total of a ll.....................................

Amount of
Bonds,
$
900,000
1,000.000
2.500.000
1.500.000
2,4*6,000
2.500.000
2.700.000 ;
13.596,000

Interest
Charge.
.

S
B
63,000 i
70,000 )
175,000)
105.000 5
174,720 )
175.000 5
189,000

180-7
103 5

951,720

5*0 8

2,765,000 , 193,550
10,831,000

Miles of
Road.

758,170

1,713,000

109,590

1,900,000

1000
430’S

119,910

1,437,000

75 5
1661

123,500

15,881,0C0 1,102,170

Thus of 1st and 2d mortgages alone—allowing for the piece
of the Great Western between Decatur and Naples nut
required—there are $10,831,000, on which the interest reaches
$758,170. Including the consol and other mortgages that are
a lien on these lines, and also a pro rata proportion of the
funded debt bonds and scrip, the total of the funded debt on
the lines between Toledo and St. Louis reaches $15,881,000,
with interest of $1,102,170 per annum. Even if the rate of
interest should be reduced to 5 per cent, as proposed, the
charge would still be $794,050 per year. On the Toledo St. Louis
& Kansas City, on the other hand, the charge will, as stated,
be $540,000.

STOCK AND BOND TABLES.
SOTES.
These tables are expressly Intended to be used in connection with the information concerning investment matters published from week to
week in the CiihOnicle—to which an index is furnished in the remarks on each page. Annual reports are in black-faced figures.
The following will give explanations of each of the columns of the tables below:
Description. - Railroads leased are sometimes given under the lessee’s name. Abbreviations used are: M. for “ mortgage,” s. f. for “ sinking fund,”
1. gr. tor “ land grant,” reg. for “ registered." coup, for “ coupon,” br. for “ branch,” guar, for “ guaranteed,” en i. for “ endorsed.”
Date o f Bonds.—The date of issue is referred to in this column.
Miles o f Road.—Opposite stocks, this means the miles of road operated; opposite bonds, the miles covered by the mor’ gage.
Size or Par Value.—These figures are dollars, showing the denominations or par value. The figures “ 100,
signify $100 and larger.
Rate Per Cent. The interest per annum is given for bonds, but the per cent of last dividend for stocks; «means gold; x .extra: s. stock or scrip.
When Payable.—J. & J. stands for Jan. & July; F. & A., Feb. & Aug.; M. & 8., March & Sept.; A. & O., April A Oct.; M. & N., May & Nov.; J. <t D.,
5
Jnne 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 p-riod when the principal falls due of bonds, but the time
when the last dividend was paid on s to c k s .___________________________________________

UNITED
DESCRIPTION.

STATES

Author­ Size or
Amount
par
izing Act.
outstanding.
value. Mar. 1, ’87.

BONDS.
INTEREST.
Rate.

4s of 1907, coup, and reg., incl. refund, certfs. 1870 A ’71 $50&c. $737,789,100 4, coin.
1870 & ’71
50&c. 250,000,000 4*3, coin.
50&c.
66,654,200 3, coin.
3 pier cents, reg., including Navy Pension, fd ... July 12,’82
J’y ’62&’64 lOOO&c. 64,623,512
6
All the Government bonds except the currency sixes are redeemable
in coin, the sort of coin not being specified. The fours and four and a
halfs are issued in bonds of $50, $100, $500 and $1,000, both coupon
and registered issues, and the registered bonds also in pieces of $5,000,
$10,000, $20,000 and $50,000. The three per cents are redeemable at the
pleasureoi the Government. The United States currency sixes are all

STATE

When
pay’ble

Where payable and by
whom.

Q.—J. U. S. Treasury A Sub Treas.
Q.-t
-M.
do
do
Q.--F7
do
do
U. S. Treasury.
J. & J.

Principal—When
due.
July 1,1907
Sept. 1,1891 -s
At will.
1895-6 7-8-9

! registered, Issued in pieces of $1,000, $5,000 and $10,000, are payable
in “ lawful money,” and mature as follow s: $3,002,000 in 1895,
I $8,000,000 in 1896, $9,712,000 in 1897, $29,904,952 in 1898 and
j $14,004,560 in 1899. The interest on registered bonds is mailed by
check directly to the holders or to any address requested by theregis|teied holders.

SECURITIES.

Subscribers w ill confer a great favor by givin g Im m ediate notice of any error discovered In tbese Tables.
DESCRIPTION.

Bonds.

Alabama—Substitution bonds (A) ($7,000,000).
Substitut’n b’ds for RR. (B) ($596,000)...........
do
for Ala. & Chatt. (C) ($1,000,000)
Funding “ obligat’ns” (tax-reo’ble i0-20 yrs.).
Arkansas—Funding bonds of 1869 and 1870..
Funding Bonds 1870 (Holford).........................
Levee bonds (or warrants)................................
Old debt, including interest t6 1884................
To Memphis & Little Rock Railroad................
To Little Rock & Fort Smith Railroad...........
To Little Rook, Pine Bluffs & N. Orleans RR..
To Miss., Ouachita & Red River Railroad.......
To Arkansas Central Railroad..........................
Jalifomia—State Capitol bends........................
Funded debt bonds of 1873
O d/tK »--uuuun. 10-20 y eW .........
/t/tC /M
Connecticut—Bonds, AV'«V JOair - . • I Coup.
>.... > or reg.
New bonds (sink, id.) not taxable
New bonds, reg.
do
do .............
New bonds, coup, or reg.............................
Delaware.—Refund’g bds., ser. “ A,” “ B” A C”
Bonds, redeemable after June 1,1895...........
School b on d s......................................................
Dist. o f Columbia- Perm’t imp’t, gold, coup—
Permanent improvement bonds, coupon........
Bds for fund’g (Act June 10, ’79) coup, or reg.
Fund, b’ds (U.S.guar.,Acts June,’74<feFeb.,’75)
Market stock, registered and coupon..............
Water stock bonds, coupon................................
Wash, fund'g, gld,($628,800 are M.&N.,1902).
Florida—State bonds............................................
Gold bonds.........................................................
Georgia—Quar. g. bds., act of Sept. 15,1870...
Bonds, act of Jan. 18, ’7 2 .................................
Bonds to fund coupons on endorsed bonds...
Bonds exchanged for endorsed RR. bonds_
_
Funding bonds, coup. Act Deo. 23, ’ ¿ 4 ..........
State University Bonds.....................................
Indiana—Temporary loan...................................
School fund bonds (non-negotiable)..................
Kansas—B’ds for Statepurp.) $574,500 heldC
Military loan.....................Jin Statef’ds — (
Kentucky—Bonds, gold.........................................
Military bonds....................................................

,
Sin
par
Outstanding
Value.

1876
1876
1876
1880
L869 to ’70
1870
1871
1838 to ’39
1869
1870
1870
1870
1870
1872
1873
1877
1883
1884
1885
1881
1885

$100&c. ¡$6,747,900
100 &o.
539,000
100 Ao.
953,000
954,000
1,000
1,323,000
1,000
1,268,000
100 &c.
1,986,773
2,491,023
1,000
1,000
1,200,000
1,000
1,000,000
1,000
1,200,000
1,000
600,000
1,000
1,350,000
250,000
500 <
fec. 2,698,000
1,000
1,030.000
1,000
500,000
1,000
1,000,000
1,000
1,740,000
1,000
625,000
120,000
156,750
1872
500 dee.
3,276,500
1873
100 &c.
623,000
100 Ao.
1879
943,400
1874
50 Ao. 14,033,600
50 Ao.
146,150
187«
1871 to ’73 1,000
375,000
100 &c.
1872
1,628,150
100
1871
280,100
100 &c.
7*7,300
1873
1,000
2,098,000
1870
1872
50Ö &c.
307,500
1,000
542,000
1876
1,000
2,141,000
1877
3,392,000
1885
1,000
1882 & ’83
254,000
li8 5
1,685,000
1867 to ’73
3,904,783
1864 to ’75 100 &o.
824,500
1866 t o ’69
206,000
1884
500.000
....
174.000
1864 to ’66

A lab am a .—The “ A” bonds bear 5 per cent after 1896. Alabama
A Chattanooga endorsed bonds were exchanged for $1,000,000 of
the new bonds, Class C. In 1880 the new 6 per cent bonds were
issued to retire old 8 per cent “ State obligations.” Analysis of the
debt and funding of 18 *6 was given in the C h r o n ic l e , V. 24, p. 28.
For the $2,000,000 of State 8 per cent bonds issued to the Ala. & Chatt.
RR. under act of Feb. 11, tl870, the State gave the lien on the lands
granted to that railroad, 500,000 to 1,200,000 acres. The 10-40’s of 1880,
due in 1900, may be called at par after 1890. The assessed valu­
ation of real estate and personalty was $152,920,115 in 1881, $158,518,157 in 1883 and $ 172,528,933 in 1885; tax rate 6 mills.
A rk a n sas.—The State Supreme Court decided Levee bonds of 1869
and 1870 Invalid; nor are the Holford or the Railroad Aid bonds recog­
nized by the State. The State is in default for interest. In Jan., 1883,
a decision was made by the U. S. Circuit Court, substantially holding
the railroad companies responsible for the State bonds issued to them,
but this was reversed and the case appealed to U. S. Supreme Court.
The following are official assessments:
Real Estate.
Personal. Tax Rate.
1383...........................
$78,444,227
$18,382,167
7
1884
............................. 81,649,415
50,403,842
7
1885
............................. 82,273,095
52,133,530
4
C alifornia.—The State holds in trust for School and University funds
$250,000 Capitol bonds and also bonds of 1873, in all $2,494,500,
leaving only $458,500 in private hands. Assessed valuations and rate
o f tax per $1,000 have been:
Years.
Real Estate.
Personal. Tax Rate.
1884 ................................... $654,990,072
$166,614,631
$452
1885........ ......................... 688,311,102
171,201,282
5*44
Connecticut.—The debt of Connecticut was all created originally for
war purposes Assessed valuation and tax rate per $1,000 have been:
Years.
Real Est. & Personal.
Tax Rate.
1882 ...............................
$342,242,566
$1-25
1883 .....................................
348,774,879
1*25
1884 .......................................
349,977,339
1*25
The assessed valua ion of real estate is about 70 per cent of the true value.
D elaw are.—These refunding bonds issued July, 1881, take up out*
sMaiding debt.. Series “ A” are$160,000, redeemable 1886; series “ B,’’




Rate.
4
5
4
6
6
6
7
6
7
7
7
7
7
7 g.
6 K
5
3*8
31
«
3
4
4
6
6 g7
5
3-65
7
7
6 g.
7
6 g.
7 g.
7
7
6
4*8
7
3ht
6
7
7
4

INTEREST.
When
Where Payable and by
Whom.
Payable
J.
J.
J.
J.
J.

&
A
A
A
A

J. A
J. A
A. &
A. A
A. A
A. A
A. &
J. &
J. A
M. *
J. A
J. A
A. A
J. A
J. A

Principal—When
Due.

July 1,1906
July 1,1906
July 1.1906
J a n .1, 1900
1899
1900
1900
1860
1899
1900
1900
1900
April, 1900
July, 1887
Sacramento, Treasury.
1893-94
do
do
May 1, 1897
Hartford, Treasury.
Jan., 1903
do
do
Jan. 1,1903
do
do
Oot. 1,1910
do
do
1891,1901
Phila., Phila. Nat. Bank.
June 1,1905
do
do
Jan. 1, 1901
July 1, 1891
Wash, or N. Y., U. 8. Treas.
Jan. 1, 1891
do
do
July 1, 1899
do
do
Aug. 1, 1924
do
do
July 26.1892
do
do
Oot. 1,1901 A ’03
do
do
1892 A 1902
do
do
Jan. 1, 1901
N.Y.,Park Bk.& Tallahassee
Jan. 1,1903
do
do
Oot., 1890
N. Y., Fourth National Bk.
May, 1892
do
do
July 1, 1896
do
do
Jan. 1, 1889
do
do
July 1, 1915
New York & Atlanta.
1932-33-34-35
1895
N. Y., Winslow, L. A Co.
....
1887 to ’95
N. Y., First Nat. Bank.
1887 to ’99
do
do
1905
New York City.
1894-96

J. N. Y., Am. Exch. Nat.Bk.
do
do
J.
do
do
J.
Montgomery.
J.
J.
J.
J.
O.
O.
O.
O.
O.
J.
J.
N.
J.
J.
O.
J.
D.

J. A J.
J. A J.
J. A J.
F. A A.
J. & J.
J. A J.
J. A J.
Jan.
J. A J.
Q.—J.
J. A J.
J. A J.
J. & J.
J. & J.
Various
J. A J.
J. A J.
....

$300,000, redeemable July, 1886 to 1891: series “ C,” $165,000, redeem
able July, 1891 to 1901. In addition to above, $33,000 is due Delaware
College. There is no State tax levied, nor assessments made.
D istrict oi C olu m bia.—The interest and sinking fund on the 3-65
bonds are provided for by Congress, and the amount is limited to
$15,000,000. Real and personal estate, &c., assessed as follow s: 1884,
real estate, $90,496,331; personal, $10,987,443; tax rate, 15; 1885, real
estate, $93,491,891; personal, $12,715,686; tax rate, 15; 1886, real es­
tate, $96,054,301; personal, $12,532,997; tax rate, 15.
F lo rid a .—The sinking funds hold $218,800 of above bonds, and the
school, &c., funds held $625,500 more, leaving outstanding $430,700.
Coupons of all bonds are receivable for taxes. Real and personal property
assessed in 1883, $55,008,560; tax rate 4 mills in 1884, $60,042.65o;
tax rate 4 mills. Assessment In 1886, $76,611,409; tax rate, 4 mills.
G e o r g ia .—The constitutional amendment in 1877 declared void
several issues of bonds and railroad endorsements. The 4*2 p.o. bonds,
of 1885 were sold to take up other bonds maturing in 1885 and 1886,
Tax rate, 3^ mills. Assessed valuations have been:
Years.
Real Estate.
Personalty.
Railroads.
1884.........................$174,452,761
$120,432,609
$22,188,901
1885 ......................... 179,946,059
119,200,739
23,000,294
1886 (tot.valuat’ns) >
------------------------ $329,489,505--------------------------- '
I n d ia n a .—There are also outstanding $340,000 5 per cent bonds
due 1901, held by Purdue University; $60,000 State University bonds
held by Treasurer, and about $18,000 miscellaneous issues o f bonds.
Valuation in 1885, $793,526,079, Valuation in 1886, $794,696,597
K an sas.-K an sas has but a small State debt, but the issue or wunicipa 1
bonds was about $19,397,851 Jan. 1, 1887. Population in 1884, 1,135,614; in 1887, 1,500,000. The valuations (about one-half of true value)
have been:
_ .
_ , .
Real
Personal
Rate of Tax
Total
Years.
Estate.
Property.
per $1,000.
Debt.
1884 ............ $180,623,238
$56,390,518
$150
$374*500
1885 ................. ■
-----------247,371,645-----------'
.........
---1886 ..................
277,113,323
4 10
830, oOO
K e n t u c k y .—Against the bonds as above the sinking fund held
$711,346 June 30,1885. Valuation in 1884, $377,888,542; in 1885,
personal, $96,838,919; real estate, $293,989,044; total valuation.
$390,827,963.

\

STATE SEC UJtiiTIES.

M arch , 1887.1

gnbecrlbere w ill confer a great favor by giving Im m ediate notice o f any error discovered la these T a b le ..
1'
------------------- ■ ______ _____________ ____________
—
*
)
DESCRIPTION.
INTEREST.
Date of
Size or
Amount
Principal—When
par outstanding.
When
Where payable and by
Rate.
due.
For explanation see notes on fire; i-«.0*8of tables.
les.
Value.
Payable
whom.

sel.

1853

...|
1-.|
...|
...|
...|
ite
t.)

1870
1869
1857
1870
1871
1869
1874
1880
1864
1868
1838
11838

$500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100 Ac.

$40,100
175.000
80,000
do to Mississippi A Mexican Gulf Can
260.000
do school, held by St. Treasurer........
48.000
do to N. Orleans, Mobile A Chatt. RR.
70.000
do to N. Orleans, Mobile & Texas R R ..
2.500.000
875.000
11,966,450
‘'Baby” bonds, threes.
1.437.000
p.
500 Ao.
2.330.000
sg.
100 Ac.
2.827.000
ng
1,784,444
Chesapeake A Ohio Canal, sterling.......... .
2,263.333
Railroads and canals...................................
309,485
Eastern Shore Railroad..............................
31,069
Baltimore A Susquehanna Railroad..........
1837
269.000
Baltimore & Susquehanna Railroad..........
1839
298,435
Annapolis A Elkndge Railroad..................
1839
62,605
Defense redemption loan............................
3,000,000
Deaf and Dumb Asylum Loan...................
125.000
Maryland State Loan...................................
1,217,234
Treasury relief loan, 10-15 years...............
500.000
Exchange loan of 1886 ... .........................
18>6
628,355
Massachusetts—Bounty Fund Loan...............
500 Ac.
4.379.500
do
do sterling........................
£100 A
<
4,022,649
War Loan, sterling.......................................
£200
1,005,419
Troy & Greenfield Railroad loan, sterling, .. 1858 t o ’61 £200 Ac
5,537,104
do
do
home .. .. 1861 to ’63 500 Ae.
1.366.500
do
do
sterling,
1871
200 Ac.
3,618,242
do
do
sterling,
1875
£500
1,506,182
do
do
dollarbo 1873 to ’74 1,000
is
300.000
do
do
do
1875
1,000
1.300.000
do
do
do
1877
10,000
370.000
Southern Vermont Railroad Loan............. .
1860
5,000
200.000
.. 1868 to ’69
£200
3,618,729
Harbor Land Improvement (5-20s).
.. 1874 A ’76 1,000
300.000
Danvers Lunatic Hospital..............
.. 1874 A ’77 1,000
1.500.000
Lunatic Hospital, Worcester...........
. 1875-’76
1,000
1.100.000
New State Prisons, sterling.............
1875
£500
1,299,355
Michigan—War Bounty Bonds............
1865
1,000
231.000
2
1881
1,000
3.965.000
Revenue loan (redemption optional)....
1883
1,000
61,000
Missouri—Consolidated bonds...................
1868
1,000
2.483.000
University and Lunatic Asylum bonds..
1872
1,000
185.000
Penitentiary iniemaity............................
24.000
State Bank stock refunding................
1874
80.000
Bonds to North Missouri Railroad........
- 1854 to ’5t- 1,000
863.000
Bonds to Cairo A Fulton Railroad........
1857 to ’59 1,000
246.000
Bonds to Platte County Railroad....... ....
1859 to ’60 1,000
428.000
Bonds to Iron Mountain Railroad........
1854 to ’59 1,000
1.190.000
Pacific Railroad of Missouri................ "
1853 to ’59 1,000
1.474.000
Funding bonds........................................ *’ ]
1874
1,000
617.000
do
5-20 years.............
1886
1,000
1.350.000
Hannibal & St. Joseph Railroad..............
1857 to ’75 1,000
923.000
_ . do
do
renewai.
1874
1,000
659.000
1877
1.00O
449,267
1864
1,00'*
150.000
Municipal war loan................................... "" *
1872
10Ó Ac.
5,206,100
Loan of 1879 for refunding...........................
1879
1,000
500.000
Prison loan....................................... ...........
1879
1,000
70,000
New Jersey—
War loan bonds, tax free. . ' ’
1863
L0Ó Ac.
802,900
do
do
taxable...............
1864
L OAc.
O
593.400
New York— f
1875
L O Ac
O
473.000
Canal debt, J Under Art. 7, Sec 3, of Con1872
L O Ac.
O
reg. stock, j stitution.
1873
.00 Ac
1874
.00 Ac
Niagara Park Loan bonds.
1885
1,000
900,000
Bonds in aid of various railroads.

$12,000
July, 1893
108.000
1872 to 1906
80,000 Amounts not
Jan. 1, 1890
260,000
fundable,
1899
48.000 per report of
1897
70.000 Jan. 1 , 18S7.
July 1,1910
2,500,000
April, 1911
875.000 |
N.Y., Winslow, Lanier & Co
Jan., 1914
New Orleans.
1887 and 1914
Boston, Suffolk Bank.
June L, 1889
Augusta and Boston.
Oot. 1,1889
London, Baring Bros.
1889
do
do
1889
Balt. F r a . A Meroh. B1
1890
ilO
<o
1890
do
do
1890
do
do
1890
do
do
1890
do
do
1899
do
do
1889
do
do
1887
do
do
1893
do
do
1920
M. A N
Boston, Treasury.
May 1, 1894
M. A N
London, Baring Bros,
May 1, 1894
J. A J
do
do
July 1, 1889
A. A O
do
do
Api., 1888 to ’90
Various
Boston, Treasury.
April, 1891 to ’94
J. A J.
London, Baring Bros,
July, 1891
J. A J.
do
do
Jan. 1, 1895
J. A J.
Boston, Treasury
1894
J. A J.
do
do
July 1, 1895
M. A S.
do
do
Sept. 1,1897
A. A O.
do
do
April 1,1890
J. A J.
London, Baring Bros.
Jan. 1,1900
J. A J.
Boston, Treasury.
Sept. 1,1896
Various
Boston, Treasury,
J’y l,f94-8ep 1,’97
Various
do
do
M’y l ’95-8ep 1,’90
A J. London, Baring Bros. A Co
Jan. 1, 1895
M. A N. N. Y., Am. Exchange Bank
May 1, 1890
J. A J. N. Y. City, First Nat. Bk.
.1911
J. A J. St. Paul, State Treasury. To be red’d in ’87
J. A J. N. Y., Bank of Commeroe.
188.A J.
do
do
July, 1892
....
do
do
1895
A J.
do
do
Aprii 1, 1894
A J.
do
do
1887 to ’88
A J.
do
do
1887 and ’89
A J.
do
do
1889 to ’90
A J.
do
do
1887 to ’89
A J.
do
do
1887 and ’89
A J
do
do
July, 1894 A ’96
A J.
do
do
Jan. 1 .191Ì
A J.
do
do
Feb. 28, 1887
A J.
do
do
1894-0-6
A O.
N.Y., Kountze Bros.
April 1, 1897
. A S.
Concord or Boston.
Sept., 1889
A J.
do
do
Jan., ’92 to 1905
A J Bost.,Nat.Bk.Commonw’lth July 1, 1887-’92
A J.
do
do
Jan., 1887 to ’91
A J. Jersey City and Trenton, Jan., 1888 to ’96
A J.
do
do
Tan.. ’97 to 1902
A 0. N. Y., Manhattan Co. Bank.
Oct., 1893
A J
do
do
July, 1887
A J.
do
do
July 1, 1891
A O.
do
do
Oot. 1 ,1892
A J.
$100,000 yearly

L o u is ia n a .—The Constitutional am inim
10,0)0 000, a n i in 1936, $015,450,ovided fur a.new bond in plaoe of coasols of £8747 bearingsTSe/ceut
for 5 years,
naUU; in 1331, I D s mills ; in 183 5, 2-4
i>jr coat for 15 years and 4 percent afterwards In m illsiU L8^3- Cax ra5e’
June, 1882,
was confirm
All the old State bonds formerly held by the permanent
forltfmpt«Jaa' 1
and doing away with the provision of 3 par cent
JLund have bee? redeemed or exchanged for 4*gs. Mtnnesotare8 0 m e recognize the “ State Railroad Bonds” of 1858.
amoua" of $2,275,000, bat a proposed compromise with the
P.cifi.cr8 was Provided for in 1881, and was carried out by the issue of
W £ t X ^
18S4iC m Iu s “ fflced to pay2 the 4*2 per cent bonds. Taxable valuations and State tax have been:
lV
of $212 725 5fifi885A I^
a a iti+°K2 ‘8 Jras ™ade on a total taxable valuation Yoo F
8Real Estate.
Personal.
Tax Rate.
J-ofi.................. .................. $308,949,184
$74.329,190
1*4
i° | 2....................................... 244,033,847
67,159,588
18
..................................... 255,910,090
78,549,269
18
F
83i ...................................... 307,859.774
80,298,879
1-3
..........................
310,781.118
80,301.000
1-8
1881.
*
8’ l833-84, 4 mills; 13j5-J,3% mills on valuation of 1386 ..................................... 380, >00.000
83,000,000
13
M is s o u r i.—The tax rate is 40e. per $100. ____ ___
Bonds maturing are met
U5
homf $ ? f “2ii86Tof s t o ^ a n t e 1 881^ 6^ canals and railroads, and i„,.in!?in1 | iuad- . Total State debt Jan. 1, 1887,' was «U.ISO.OOOI
^
«.'an holds $23 ? i ®i9'jhs and bon is yanked as productive; the State
*’. 7
ranked
productiveatata
V1
*®?1 T
furid and University oertirtoates, $3,653 000
The
also
» 2= i7i ö ß o* ’
3<
T
’
lu uuyromotive securities
in unproductive securities, which includes
8t’^ Jo8^ph ftR-JPald the State $3,000,000 for its debt, but
reJused on Jan. 1,1882, to pay the coupons on its own $3,o00,___R R R )I
changes’ the ¿nJSSZIS'P oi Chesapeake A Ohio Canal. The State|ex
r° .
Litigation between the State and company ensued, rebearing interestfat 3*6^ner
° r ne^ certificates of indebtedness,
against the oompany for $476,049, as due the State
nation**“ i eLL albeen: per cent, redeemable m 15 years. Assessed val­
,8
uation. Ac., have ± Z '3
'•183.3; an appeal to the U. 8. Supreme Court is yet pending.
Years.
iiTm i la oJ ^ ion ? rtateinent of the assessed property In this state on
1883 .
Real A Personal. Tax per $100 June i, 1883, 1884 and 1885:
$ 166,089,380
1884
18 %c
469,593,225
1883.
1884.
1885
1885 ....................................................
18 %o. D„ i . .
Real estate..................$443,144,455
$495.293,007
473,452,144
1886
...........................
$518,803.118
Personal property . . . . 173.345,191
186,425.373
476,829,611
181.133.128
Railroad property, Ac.
39,760,767
44,564 997
46,444,835
42’ P' ?28, 7 8 3 ; V¿1*217.)
T ota l..................... $656,230,413
h 1887’ was $31,429,680,
$726,283,378
$746,3 n .0 8 1
cost the State heavUv * The
The Hooaao tunnel and connections —(V. 42, p. 125, 207.)
N. Y8**
bi “ Rerdeli
9i K a5 f , " ; T! le 8tate 8?h0(>1 f,m‘l bdds $326,267. Assessed valu™aI estate, Personal, rallr )id, Ac. (33*a per cent of true value,
bonds, and these bonds were sold J K
‘d 1885 at 9Ó. L Ä d Ä S r t a x ^ A i , hTve Ä :
v
ana tax rate per $1,000, have been:
Tax Rate.
Personal Tax per
Total
i a af8'
Valuation.
Years.
astate.
Pronertv *i non
.................. ............................... $93,142,456
1880..
{SS.t — ...........................................................
98,537,475
1881 .
.......................... ....................................... 110.543,644
7 40
1882 . "
.................................................................. 126.615,880
7 35aaoo
1883.
......................................... .......................... 133.418,700
1884. '
7 -.c
LS8J............................................................
113,9 12,570
7
7'^
1895 ‘
,899 827,043 710
1886
31.423,680 18, L82j672
The debtof Now Uau pslure was created ror war
1.340,493,673 839,401.214 11 49 31,4.9,680 18,064 412
. Mich «rau. - The délit is ora ;i,io.- “ fhn m l l L ! “ 1 1 ; ' 1 1 " '!.0
61 , ?
1872 war sued to cities andtowns,
Poi (e^ c ( tp be,
fco ttxeir war deot.,. Total valuation > L893
n
u ih H
S ilft] III < (J is to Div th« hnn
t.
'±piu- llished..as cu« simung funu W 7
and rate
lo pa> tüe bones. Eqn
valuation or real and o ' taxation for ia 1884, $231.310.099; in 1885. $173,858,500 *
all nurposcs. $1-52

suvdSS
tW ^




c

INVESTORS’

SUPPLEMENT.

[Voi.. XLIV.

Subscriber** w ill confer a g re a t favor b y g iv i n g im m e d ia t e notice o f any error discovered In these T a b le s .
OSTE RES r.
Principal—When
Date of
Size or
Amount
------------. __
doe.
DESCRIPTION.
Bonds.
^ .
outstanding. Rate.
When^ Where Payable and by
Whom.
For explanation see notes on first page of tables
1909
J. A J. N. Y., Nat. Bk. of Republic.
4
$50 Ac. $3.025.650
1879
1868 to ’98
North Caro/fno—Fund. b’ds (coups.tax-reo’ble).
Various Cps. since July '68 unpaid,
6
2.238,900
500 Ac.
1884 to ’85
do
do
Old bonds not funded— ------ - --...................
Various
6
649.000
1,000
April 1, 1919
Bonds to North Carolina Railroad . . . . . ---do
do
A. A O .
6
2.577.000
1.000
1879
1868 to ’98
Bonds for N. C. RR. Issue (tax-receivable cps.
Cps. since July’68 unpaid.
6
1.180.000
1,000
O c t ,1898
RR. bonds not fundable (Chatham and W. AT.)
A. A O . Coup, of Jan.’69Asince unp
6
44.000
1.000
1868
1898 to ’99
Penitentiary bonds, act Auer. 24, 1868...........
IA. A O Cps. A A 0 ’69 A Ap ’ 70 unp
6
1,000 11,366,000
N. Y., American Exch. B’k. July 1. ’87-’88
Special tax bonds (in 3 classes)........................
J. A J.
4
1 ,100,000
100 Ac.
1881
July 1,1887
Ohio—Registered loan of 1881...........................
do
do
2,250,009 3 ^ A 5
Julv l , ’89-’94-’98
do
do
Deficiency lo a n ..................................................
J. a '.t
3
218,4 25
Feb. 1,1902
New 3 percent lo u . . — . . . . . . . . . . . . . . ----- •
F. & A Phila., Farm. A Meek B’k.
5
6.500.000
100 &c.
1877
Aug. 1, 1904
Pennsylvania—Ring- bonds, tax fr. (red ble 92).
do
do
F. A A
4.
1,481,409 |
100 AC.
1879
F eb .1.1912
Reinstt.red bonds, tax free. 15-25 years........
do
do
6,861.100 3*2 A 4 F. A A
50 Ac.
1882
Aug. 1, ’87 to ’92
I„ an of February, 1882 (registered)..............
do
do
1.399,600 3 A 4 F. A A
50 &c.
1882
1922
do
do
In ten series.............
Harrisburg, Treasury.
6
500.000
1872
July 1,1893
Agricultural College land scrip........................
J. A ,T Providence, R.I.H. A T. Co.
.
6
625.000
1,000
l*-63
Aug. 1, 1894
Rhode Is'q,nd—War bonds.....................................
do
do
F A A.
6
742.000
1,000
1864
1871 A ’81
War bonds...... ; ........j.:.-... . . . . . .
J. A J. Columbia, State Treasury.
6
154,114
South Carolina—
State House stock and bonds.. 1853 to ’54 1,000
6 g. J. A J. Columbia and New York. J’ly 1,1887 to ’97
26,650
50 Ac.
1866
J’lv 1,1875 to ’79
Columbia, Treasury.
Funding bonds and stock.................................
6 g. J. A J.
52.000
1,000
1854
July 1,1888
Blue Ridge Railroad bonds............................. .
6 g. A. A O. Columbia and New York,
13.000
1,000
1868
July 1,1888
Funding Dills receivable....................................
do
do
6 g. A. A O
128.000
1,000
1868
July 1,1889
Payment of Interest..........................................
do
do
J. A J.
36,500
6 g500 Ac
1863
July 1,1882
do
do
Funding bank bills...........................................
41,200
6 g- J. A J.
500 Ac
1869
1888
Conversion bonds and stoex ..........................
do
do
J. A J.
6
450.908
1878
July 1,1893
Deficiency bonds A stock (act 1 8 7 8).............
N. Y., National Park Bank
J. A J.
6
5,277.738
500 Ac.
1874
July 1,1914
Consol, bonds and stock (Brown) ...................
J. A J.
1,000
1874
1892, ’98,1900
4.415.000 5 5 A 6 J. A J.
Tennessee—Funding bonds, act of 1873.............
) 6„
1,000
Various.
Bonds registered, actof 1873— . . . . . . . . . . . . . . Various.
Nashville, Treasurer.
J. A J.
0
397.000
1,000
Jan. 1,1912
Held by IS T. University (not t •be funded)..
.
New York, Cont’l Bank.
2.799.000 3, 4, 5, 6 ¡J. A J.
500 Ac.
1882
Compromise bonds (act of May 20, 1882) ....
July 1, 1913
Nashville,
J. A J.
3
9,114.700
100 Ac,
July 1,1913
Settlement bonds, act of March 20, 1883........
do
5 A 0 !j. A J.
1,'.38,000
100 Ac
1883
do
do
5 A 6jper cents
1891
State Treasury.
|
Various
6
67.000
1872
1911
New York, Bank or N. Y.
7 g. M. A 8.
499.000
1,000
1871
1892
do
do
467.000
7 g. J. A J.
1,000
1872
March 1,1904
do
do
7 g. J. A J.
288.000
1,000
1874
July, 1906
Bonds, act Mar., 1874 (for paying float’g debt)
1.647.000
6 g. J. A J. New York A State Treasury
1,000
1876
1909
Redemption of debt, act Aug. 6, *70................
do
do
J. A D.
1,068,900
100 Ac.
1879
Matured.
State Treasury.
Bonds, act April 21,1879.................................
82.168
1867
1886 to *95
Bonds issued to School Fund...........................
J. A J.
1,759.425
500
1886
Viri/iniOr--Old bonds, fundable........................ 1851 to ’ 66 fi 100Ac.
J. A J.
629,090
Ac
1851
1905
o f t bonds sterling 2s fundable............. ■
J. A J.
100 Ac. 13.019,000
1871
1905
Consol, (act Mar. ’71) coup, tax receivable....
J. A J.
1,212,910
100 Ac.
18 1
do
do
reg.. conv. Into coup...
J. A J.
6
365.000
100 Ac.
1872
do (act 1872) “ Peeler,’’ cp. not reo’ ble..
J, A J.
6
532,684
1-72
Contingent
do
do
“ Peeler,” reg. and certifs .
J. A J.
6
Various 12,691.530
1871
1919
Deferred certificates (W. Va.)....... - .............
3 to 5 J. A J.
6,890,300
1879
1919
H -10s. act Maroh 28, '79, coup, and reg----219.800 3 to 5 J. A J.
1879
July 1,1932
do
do
sterling........ .............. .
Richmond, Treasury.
J. A J.
3
2,872,320
100 Ac
1882
“ Riddleb’r” b’ds, acts Feb.l4,’82,A Vov.29,’84




. . . .

principal
bearing
N e w Jersey.—The debt was created for war p r o s e s . Valuation of tlieper cent inand Interest of old, the newIn 1886 6 per cent in 6ea
83. 4
1884 and 1885, 5 per cent
1887, and per
of real and personal propertv (taxable) was $573,25^,203 in 1886, pent 1888 to 1912. Exchanges were made in New York July, loeo,
$565,500,687 In 1885; $554,828,114 In 1884; $548.495,Ob9 in 1883. and $8,224,351 of these compromise bonds w erei2sa®
dState’ school tax, 2*a mills.
ture of 1833 repealed this law and passed a new one
usting the debt
on the basis of new bonds at 50 per cent of the face value of oldjand
N e w Y o r k . —The financial condition of the State has been
^
bearing 3 per cent interest; the old State debt proper of $2,118,000 8
the payment of all debt except as above. The sinking funds 0 °t'>ber, made an exception, and new 5 and 6 per w nt bonds are Issu^ for tbat
I « « « amounted to $5,050,900. The new Capitol building has cost
the State^thUs far $17,310,720, paid for by taxation. Valuations and nt tii« fa,«« value Ud to Mav. 1886, of the old 5 and 6 per cent bonds
$1,038,000 had been exchanged, and of the new bonds issued for them
State tax rate in 1880 and for two years past have been.
State tax. ■8688 i¡00 are 6s and $350,600 are 5s. For other bonds sea ed $9,114,Real estate.
Personal.
f o o 3 per cents issued. To July, 1886. ^1,00>.000 °* k°n ls tod been
3*«
............$2,315,400,526
$322,468,712
1880
funded. All the settlement bonds are redeemable at opUon of the State
2’-i34o
1QQ4.............
..2 ,66 9 ,1 7 3 ,31 1
345,418,361
after July 1, 1888. Assessed valuations and tax rate per $1,000 have
2-96
J qqÌ ....................
2.702,348,000
332,383,239
2-95
been as follows:
.......................
2,899,899,062
324 783,281
Other property. Railroad prop’ty. Tax rate.
Real estate.
N o rth C a r o lin a .—Interest was paid up to January 1882 on the
30
$25,282,659
$ ..................
$200,007,214
20
honds toiied to No. Car. RR., as the State holds $3,000,200 stock and re- 1881
26,546,245
............... .
195,333.568
oelves dividends thereon. The old North Carolina RR-construction 1882
30
26,884,459
31,547,209
195.753,414
bonds are exchangeable for the new 6s, due 1919 (see V. 35, p. 132) .and 1883
30
26,631,284
34,350,170
1884
200,212,900
many uolders have already so exouanged. The
^n^oYtke face
(V. 42, p. 234,664.)
i a?-» nrovided for funding old ante-war bonds at 40 per cent or tue race
vahie P”°New " railroad bonds recognized as valid at 25 per cen t; fundT e x a s .—The old high-rate bonds were redeemedand low erinter^t
Tne bonds of 1866 and 1868 at 15 per cent. Nothing for overdue cou- bonds Issued. Assessed valuations and rate of tax per $1,000 have been.
pons. Coupons of the new bonds are receivable for taxes. The f,ending
.Tan 1 1882, but has been continued probably till Mch., 89. Li Years.
Total val’ation. Tax rate
Personalty.
Real estate.
$1
$119,925,476
$169,767,572
111 were funded the new 4 per cents would be $3 589 511 Special 1882.... $250,157,904
3
527,537,390
228,578,137
tftr bonds were iffiiored; also bonds to Chatham RR., 1868, #1,030,000, 1883..
298,959,253
..
3
603,060,917
RR.. $150.000, and fo r Peidtentiary under 1884..
255,213.964
347.846,953
..
3-75
621,011,989
245,121,395
acts of 1868. The speoial tax bonds are in 3 classes, class 1. bearing 1885..
375,890,594
..
3-75
030,525,123
235,313,445
the ooUDon of April 1889 and sinoe; class 2 of Oct. 69; class 3 of Apl 70. 1886..
395,211,678
..
i S I d valuation of real estate is about 60 per cent of true value.
V ir g in ia .—
The old bonds two-thirds fundable andQ ieofi'eryh«
2
Valuations and tax rate per $100 have been j
bonds carry coupons from July 1869, except the years 1872-3-4.
L
Years.
Real estate.
Personalty. Total valuation. Tax pr.$l00 oonsols. of 1871 carry coupons of Jan. 1875 and since. The 10-40s carry
$167,738,639
28
1881--$104,712,911
$62,995,728
Jan. 1831 aud since; but the consol, and 10-40 C0UP°P.8 Pei“ g
180.377,525
25
1882..
.. 108,988,184
71,389,341
receivable, these bonds are generally .8oli fi^ tha£ S tn ld e T o i
201,222,723
2o
18 8 3..
.. 124,135,377
77,087,346
off.
The first funding law of Maroh. 1871, allowed holders
209.569,096
25
1 8 8 5..
.. 126,955,679
82,613,417
bonds to fund two-thirds of their debt into new 6 per.cent^bonds, bear
202,000,000
25
ing coupons receivable for taxes, and receiving for the other
1 8 8 6 ..
..
.....
............
of their principal a “ deferred certificate, to becharged tCW est V g
_ (V . 42, p. 479.)
O h io —Ohio has a very small State debt, but large local debts,amount The act of 1872 repealed the tax-receivable c l a u s e * i ? ™ h taw o*
er cent
1885 to $53 290.398, against $25,957,588 in 1875; tills increase bonds issued under It were called “ Peelers. The
March 28,1879. authorized the 10-40 year b° ad8-Pea^Pg ®
6io
befn" mainly in city debts. Valuations in Ohio havebeen as follows:
1a vpfi.Tft 4 r»ftr o6nt for 20 y6ftrs ftnd o pfir cent 10
Deins mamiy inwuy
Personalty. I
Real estate.
Personalty
years, coupons tax-reeeivable. In February, 18S2, ^the Riddl
8®
1866.. $663,647,542 $442,561,3^9 I 1882.$1,116,681,655 $518,229,079
1
093 768 904 442,979,885 I 1883. I,131.0o8,750 ^42,207,121 faw for re-adjusting the debt and the laws familiariy kuown
“ Coupon killers,” were passed (see V. 34, p. 88. The Kiaaie
xian 1*102’ 049 931 456,166,034 11884. 1,145,475,210 528,298,871
_ ’varvin«
1881* l ’ l0 1 ,457,383 485,750,1961 1885.-1,160,165,882 509,913.986 act provided for the Issue of new bonds, daJ ^
S ta te ti^ S
(V. 42, p.365, 387; V. 4 3 ,p .7 ,5 .) into which all others could be funded at specified rates below par, v^ym|
from 47 to 31 on the different classes. This law was a^o am
P en n sylvan ia.—Revenue is raised principally from OOTporations- and all bonds offered for funding after J uly, 1885, must carry the aP^t
Taxes are levied on personal property. Sinking fund, Nov., 1886, was of that date. The total Riddlebergers issued have been $6,494,0<M «
$10,180,746,including $5,305,814 in U. 8. govts.
«^O
^oo°000 000 which all but the above are held in State funds. T b e Supreme Court oi
be changed to registered. Real estate valuation in 1884, $1,600,000,000. the U. S. held (V. 36, p. 285), that the law requiring the yalimty oi w
to be established before a
cour t did
. jonai but
R h o d e Is la n d .—The debt was all created for w m purposes. In coupons them receivable for taxes, Statewas therefore
making
and
when
January, 1880, the net debt, less sinking fu n d ,^ a s $885^ 2 3 ^ The the question was again before the U. 8. Supreme Courun April,
> gU
(j).
State valuation of real property up to 1885 was $328,530,559, tax rate, that Court held that a tender of coupons in payment of taxes was
12 cents on *100.
__
cient for the property owner. New suits were brought,
its
South C arolin a.—
The funding law of Dec. 23, 73, provided for cision reported_in V. 42, p. 188, the U. S. Supreme Court affirmed iw
sealing down the old debt 50 per cent. The ® stJs^ ^ e7og ri|e 24
0° f0
adjusted ” in 1879. The several acts were passed Dec. 3,1873, Deo. 24, deAiS
movenient°was begun in 1885 to procure an
yfrgmia
1878 Deo. 24. 1879, and February, lft80. In November, 1886, “ Deferred” bonds or certificates by the Legislature of West v s ^
there’ were green oonsols not yet exchanged, $851,671,
and the holders of some $ '!>
nP0-000 i«65?811®#
r nb^ «re Usted at
Invalid, $631,373. The old Issues yet fundable on Nov. 1».86, wot6 Farmers’ Loan A Tr. Co., and the certificates of that Co. were ns
estimated at a total of about $585,000. Valuations and rate of tax the Stock Exchange.
tier $1,000 have been:
..
_
.
Tax rate J A ssessed valuations have been as follows.
Years
Real estate.
Personalty.
Railroads.
Tax Rat®
Toral.
5 'Years.
Real Estate.
Personalty.
40o
1882-83
$77 609,666
$41,785,768
$13,76 ,400
8310,053,12i.
5
1882.. .. $232,386,357
$77.666.765
400318,157,937
i l l s ! ! - . : . O T lm lio o
??S Iee
5*8 1383..
..
236,368,22781,789,710
40o.
1884-8 5 ... 87,559,538
46.904.705
15.263,366
5J4 1884
__________ 239,826,00088,974,040 328.300,040
40o
1885-8 6 ... 86^114.852
42,836,288
15,521,041
341,800.410
1885
256,916,140
84,884.270
'T en n e ssee.—A funding law was passed (actof May 20, ’82) without
the tax-receivable coupon clause, and giving new bonds at 60 per ce t _ ( V 4.7. t>. 9*. l s i . 234. 464; V. 43, p 432, 446.

CITY SECURITIES,

M arch , 1887.1

7

Subscriber« w ill coniter a great favor by giving Immediate notice o f any error discovered In tbese Tables.
Date of

d e s c r ip t io n .

Size o r Amount
par outstanding
value.

s.
Forexplanations see notes on first page of tables.

City Improvement........................................
Washington Park........................................ .
New Poet Office site...................................
Water debt <$400,000 due 1900-3, are 7s).
New City Hail..............................................
South Pearl Street bond s................ .—
Atlanta, Go.—Bonds for streets, floating del
Bonds for A. L. Railroad and State Hons
Bonds for West. RR. and floating debt...
Bonds, 1st and 2d series, waterworks___
Redemption bonds.....................................
do
.....................................
Bonds to fund floating debt.......................
Capitol bonds..............................................
Bonds.................................................
Augusta, On.—Bonds for various purposes.
BaUi mors—Consolidated loan of 1890.......
Water loan, reg. stock, red. at will after :
Funding loan, reg. stock, tax free...........
Consolidated bounty loan...........................
Exempt bounty loan..................................
Public parks (Druid Hill)..........................
Park improvement loan.............................
Patterson Park extension........................

..
.
..

.
..
..

1866
1870-’71
1870-’82
1874
1874-’80
1882
1882
1865
1867-’72
1869-’70
1870 & ’72
1874
1877
1881
1879

.
.

....
Various.
Various.
6
1877
1878
1863
1865
1860
1863

1853
. 1870-’74
1881
1870
1872
) 1872-’84
do
1885
Water loan ($263,000 only are 6s).................
1874
Harford Run improvement lo a n ....................
1880-4
Western Maryland RR. loan............................
1882
.............................
do
do
1887
Endorsements for Western Maryland R R .... .
••• •
••
do
do Union Railroad..................
Bangor, Me.—City debt proper ..........................
Refunding bonds..............................................
1885
Municipal loan................................. ................
1874
Water loan bonds, ooup. (Act Feb. 22, 1875)
1875
European A North American Railroad..........
1869
Bangor A Piscataquis Railroad.......................
1869
)
........
^ ........
Androscoggin Railroad...................
1861
Knox A Lincoln Railroad ($23,75(
1
1869
do
do
(F. AA. a
1871-’72
Railroad refunded..........................
Boston—
City debt and Charlestown.
1864 to ’80
do
registered....................
1878-’82
do
do
........................
1879
do
do
........................
1877
City debt.........................................
Various.
West Roxbury................ ................
....
Burnt district, sterling loan.......... .
1873
1869
Park bonds.....................................
1887
Mystic water debt, assumed..........
1862 to ’ 83
Coohituate Water loan, 6 per cent.
1866 to ’76
do
do
5 per c e n t .........
1875 & ’ 78
do
do
4 per cen t.........
1878
do
do
Sterling............
1872
do
do
5 per cent gold.
1875-’76
do
do
41
«
do
1879
do
do
4
do
1879-’80
do
do
4 per cent..........
1883-84-85
do
do
3 ^ per cent.
1884-’85
Brooklyn—Brooklyn local improvement loan
1861
Mount Prospect Square loan.............................
1856
Soldiers’ add fund loan.................................
1865
Gowan us canal improvement loan, local." "I” ."
1866
Bushwiok avenue
do
do
do ... ."
1865
SouthSeventh st.
do
do
do
1863
Fourth avenue
do
do
do
1868 A ’69
WallaboutBay
do
do
.....
1867
New York Bridge loan, registered and coupon
1870
Bonds for N. Y. A Brooklyn Bridge, op. or reg. 1875-’83
Prospect Park loan, reg. A ooup. . . . . . . . . . . . . . . . 1860 to ’73
Prospect Park loan........ ..............
1860 to ’72
New City Hall.......................
Paving loan.............................
Funding loan................... —
Western Maryland Railroad.

$1,000
1,000
1,000
1,000
1,000
1,000
....
1,000
500 Ac
1,000
500 Ac
1,000
500 Ac
1,090
....
•• •
•
100 Ao.
100 Ao.
L O Ac.
O
100 Ao.
100 Ao.
100 Ao.
100 Ao.
100 Ao.
100 Ao.
100 Ao.
100 Ao.
100 Ao.
100 Ac.
100 Ao.
....
100 Ao.
100
100 Ao.
100
....
....
1,000
500 Ao.
1,000
500 Ao.
1,000
500 Ao.
Various.
Various.
Various.
Various.
Various.

1,000
....
....
....
....
....
AlOOAo
£100 Ao
1,000
1,000
....
....
....
*100 Ac
....

Rate.

INTEREST.
When
Where payable and by
Payabl e
whom.

Principal—When
Due.

,

6 r F. A A Boston. Merchants’ Bank. Feb.. 1888 to ’94
$127,000
428,000
7
M. A £
New York.
1887 to 1900
1,058,000 4, 5, 6, : M. A N New York and Albanv.
lfllO -'fll
115,000
7
M. A N N Y., Merchants Nat. Bk.
May 1,1904
1,089,000
6 A 7 F. A A
do
do
1894 to 1912
145,000
J. A J
do
do
luly 1,1905 to ’ 10
62,000
4
Albany.
1888
6
858,000
M. A N N. Y., Del.A Hud. Canal Co.
1895-*97
741,500
8
J. A J New York. Park Bank.
1892
400,000
7
J. A J
do
J. A J., 1890
418,000
8
J. A J
do
do
J. A J., 1902
427,000
7
J. A J New York. Fourth N. Bank.
Jan, 1,1904
77,500
8
J. A J
Atlanta or New York.
Jan. 1,1897
5
120,500
Various
do
do
1911-1915
360,000
6
J. A J
New York, Park Bank.
1887-1896
6
55,000
J. A J
New York and Atlanta.
1914
4*s
116,500
July, 1916
2,256.000
6A7 1
Various
Augusta. Treasury.
1887 to 1915
7,306,546
6
Q.—J. Balto., Farm. A Plan. Bank.
July 1,1890
5,000,000
5
M. A N. Balto., Nat. Meohanios’ Bk.
July 1,1916
1,000,000
5
M. A N.
do
After July, 1916
2,211,068
6
M. A S.
do
Sept. 1, 1893
410,353
6
M. A 8.
do
Sept. 1, 1893
555,566
6
Q .-M .
do
Sept. 1, 1890
Q,—J t
185,723
6
do
do
Jan. 1, 1895
Q _T
200,000
4
1920
5,000.000
6
a —j . Balto., Farm. A Plan. Bank. Jan. 1, 1890
1,500,000
6
Q.—J.
do
do
1900 and 1902
700,000
4
M. A N. Balto., Nat. Mechanics’ Bk. Liter Nov. 1,1920
800,000
6
Q .-J . Balto., Farm. A Plan. Bank.
July 1,1900
1,000,000
6
J. A J. Balto.. N. Meohanios’ Bank.
Jan. 1,1902
2,027,000 3-65.5A6 Q.—F.
do
do
April 9,1900
100,000
3
do
Q.—F.
do
1900
5,000,000 4, 5 A6 J. A J.
do
1
do
600,000
4
J. A J.
do
j
do
684,000
4
July 1.1925
1,700,000
3*4 J. A J. Balto., Farm. A Plan. Bank. Jan. 1.1927
875,000
6
J. A J. Balto., N.Meohanios’ Bank. Jan. 1, ’90 A 1900
117,000
6
J. A J. Baltimore, Franklin Bank.
Jan. 1, 1895
T A
OO
50,000
7
Various Boston, Merchants’ N. B’k.
50,000
4
do
M. A N.
do
1887 to 1890
100,000
6
do
J. A J.
do
Jan. 1,1894
500,000
6
do
J. A J.
do
J u ly l, 1905
1,000,000
6
do
J. A J.
do
Jan. 1, 1894
925,000 6 A 7 A. A O.
do
do
April 1, 1899
180,500 5 A 6 M. A S
City Treasury.
1887 A 1897
137,000
6
Various Boston, Second Nat. Bank
1898
425,000
6
A. A O. City Treasuryand Boston. J an. to Oct. 1891
J. A J. Boston, Hide A Leather Bk.
f 6
1887 t o ’99
l
6
Various Boston, Sébond Nat. Bank.
1891 A 1902
4
291,400
J. A J.
1902 to 1920
9,778,500
6
Various Boston, Treasurer’s Office.
1887 to ’97
9,058,000
4
do
Various
do
1887-1914
450,000
4*ag. A. A O.
do
do
Oot., 1889
490,000
do
4 H Various
i
do
1887
230,000
5
do
Various
do
Various.
120,000
7
do
Various
do
1887 to 1891
4,997,604
5 g- A. A O. London, Baring Brothers.
April. 1893
2,996,602
do
5 g• J. A J.
July, 1899
500,000
J. A J. Boston, Treasurer’s Office.
Jan. 1,1937
839,000 5 A 6 Various
do
do
1887 to 1918
4,897,000
6
do
do
Various
1897 to 1908
13,000
5
do
do
Various
1907-1908
588,000
4
A. A O.
do
do
1908
1,947,274
Oot.. 1902
5 g- A. A O. London, Baring Brothers.
3,552,000
Boston, Treasurer’s Office.
5 g1905-1908
268,000
4 lag. A. A O.
do
do
1909
686,000
do
do
4 g. A. A O.
1909-1912
4
1,044,200
Various
do
do
19131914
50,000
do
do
3Hj A. A O.
1914- 1915
213,000
7
M. A N.
Brooklyn.
1891
90,000
6
J. A J.
5g>8
do
1887
433.000
7
J. A J.
%
do
1887 t o ’94
20,000
7
r. A J.
do
1887 to 90
68,000
7
r. a j .
do
1887 to '90
75,000
7
r. a j .
do
cS ?
i“
1887 to '90
174,000
6A7
r. a j .
do
1887 to *89
82,000
7
r. a j
do
1887 and ’88
3,000,000
7
r. a j .
do
1899-1924
*1 •
9,245,237 <, 5, 6, 7 r. A J.
do
1905 to 1928
8,019,000
7
. A J.
do
1924
1,217,000
6
r. a j .
©
do
1915 to ’24

_.

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

g M e ' T h f t V f l . w r n ^ / A i ^ " ' 18 8®ourea oynrst mort-1 $2.857,870; personal, $3,841,830. Tax rate, $25 per $1,000; 1884.
K £ U ” $ i884 " v . i J I u C ’t o ' i i l I K » ! I * 4 8 i l ' 515 ™a l•*“ *• “ d «“ ■°95’ 820
. ™te, * » .
B o s t o n .—The population of Boston in 1880 was 362,839; in 1870 *
w
'
&
K
l
I
J
f
*
2 ° 6- Population. 250,526. against 177,840 in 1860. The gross debt on Jan. 1,1887, was
and the
$19,933.i otai ponded debt Jan. 1,1886, was $2,223.500. As- $45,865,888, the net total sinking funds, <feo., applicable to it 17, 1835.
492, leaving
The law of April
tex rft«
e o est1 in 1885, $21,023,370; personal. $7,889,269; limited the taxation indebt $25,882,395. purposes to $9 on the average
ate
Boston for city
50X. Population, 37,409 m 1880; 21,789 in 1870.
an™
tbl8 debt>$6°0>000 was issued for railroads, and bal- valuation of five years preceding, to which Is added the tax for city debt
amo
£ enlargement, water works, Ao. Sinking funds, Jan. 1,1885, and for State purposes. Up to Jan. 1,1887, the debt shall not be over
2*fl per
and after that
sonai
nMtQft® valuation in 1885: Real estate, $11,468,310; per- Assessedcent of assessed valuation, years has been: date 2 percent.
valuation on May 1 for four
.y . - o S .
WO»- Population la li r e ,
Real
Personal
Tax
Net Debt.
Estate.
Estate.
Rate.
Deo. 31.
Balt’ * 0bio * * Pa^8 Interest on $5,000,000. Years.
1883 ............. $478,318,900
$204,113,771
$14 50
PassTnip? r Lo S d by in 001»® of water works, and Public Park by City
$25,311,635
.... 483.130,600
194,526,058
17 00
24,766,064
c h S a h L R^+h /V and*agalllst, a total debt of $34,955,290 the city is 1 8 8 4
.... 495,973,400
189,605,600
H
interest on only $18,698.722, and holds productive 1 8 8 5
12 80
24,700,014
.... 517,495,200
193,086,500
12 70
« DcV s
sinklngfunds, equivalent to $12,869,848, leaving 1 8 8 6
25,832,395
There tie
debt over interest-bearing assets,
B r o o k l y n . —The whole city debt was as follows Jan. 1,1886 and ’8 7 .
in 1870 2K
7
unproductive securities. Pop lation
Jan. 1,1886.
’
Jan. 1,1887.
$ L 117° ’ 2b7n 54L\ 1880, 332,313. In Jan., 1887. the city issued the Permanent debt...............
f
$26,264,543
$26.077,543
11,645,500
valuation °n«nr , t f £ 8 to J W - off We8t- Maryland debt. Assessed Water loan................................................
ii
10,891,500
tuuation, near i ne full cash value, and tax rate have been:
Debt payable from assessments............
2,618,000
1.640,000
„„
Real
Personal
Total
Rate of Tax Tax certificates........................................
3,000,000
2,000,000
iqoJ8Estate.
Property.
Valuation.
per $1,000.
H 83........$189,913,494
$58,889,738
$248,803,232
15 00
Gross deb t.......................................... $43,528,043
$40,611,042
...... 191,516,113
58,135,586
249,651,699
16 00
Less sinking fund.....................................
7,121,271
6,986,219
£§||...... 195,416,891
59,496,377
253,913.271
16 00
B a il» «,
* - - - - - - - .......
256,240,655
17 00
Net debt.............................................. $36,106,772
$33,624,923
R. are ?ecuiwf
J?®?®to Eu- * H o . Am. R. R. to Bangor & Pis. R.
Population m 1870, 396,099, against 566,663 in 1880. Valuation of
from the fam inm
mortgages on those roads, and interest fully paid property and tax rate per $1,000 have been:
Years.
Real.
Personal.
Rate.
were :R eal estafe S w i i S S ^ (near, fuik value> and tax ratft ia 1*84
Municipal n m n ,^ t6’ ^05i6i g: Per8°nal, $2,807,195; tax rate, 2-60. 1883
...........................$280,800,597
$18,135,909
$26 01
1884
............................. 297,126,666
20,727,406
26 34
16™ n n l R ^ i ^ g f n l87ug Water WOrfoi’ $803>
000 Population.
1885
............................ 311,308,060
19,375,702
29 00
tor th e^ e i?
i\?idi\,? 5r8t mortgage on the Androscoggin road 1886
............................. 336,221,357
22,049,310
26 50
ts proportion of
mortgages on the Knox A Lincoln for 1887
............................. 339,922,812
14,217,276
everal cities in
« S fi ?*? of a
$2.395.000 honds issued by The debt of Kings County, separate from the debt of Brooklyn, is
C 68 ** aid of the latter road. Tax valuation, 1885—real estate about $4,000,000, of which the city is responsible for i*agthq,
1U
*




INVESTORS’

8

SUPPLEMENT

I V o*

X L IV

Subscriber« w ill «pnfer a great favor by givin g Im m ediate notice o f any error discovered in tbese Tables.
DESCRIPTION.
For explanations see notes on first page of tables

D
cttiO öf
Bonds.

par c utstanding.
Value.

Rate,

INTEREST.
When
Where Payable and by
j *ayable
Whom.

p
Principal—When
Due.

Brooklyn—( Continued)—
Brooklyn. • JbÇ.
1887 to 1916
r.
‘10,893,500 3 to 7 J A J.
1857 to ’75 $1000 3
Ö
Permanent water lo a n ......................
do
r. A J.
72,000
3is
1,000
'eäcq S&rf 3
Sewerage fond bonds, continuous, local.......... Various.
< 3
£
>
do
1,018,000 3is A 4 r. a J.
1,000
Assessment fund bonds, continuous, lo ca l.... Various.
3
do
r A J.
.
31«
2,000,000
Temporary tax certificates.............................. Various.
■9 CO flÆ £ ■
1
do
1887 to 1905
. A J.
887,305
4
1884
Certificates of indebtedness........ .....................
©
1924
do
. A J.
4
549,000
1884
Bonds to pay arrears to cou n ty......................
1924
do
2,350,000 31« A4 r. a J.
1884
Arrearage bonds, reg. (redeem, in 1894)........
1893
do
4
200,000
.
1883
Award bonds for lands taken...........................
1887 to 1926
3 to 7 Parlous Buffalo and New York.
1870 t o ’86 L,000Ac 5,059,936
Buffalo, A. F.—Funded debt bonds................... .
do
1887 to 1909
do
2.778,382 31« to 7 Various
waterworks bonds.............................. .......... . 1869 to ’86 .,000Ac
1887 to 1900
do
do
445,457 3 to 41« r. A J.
Tax loan bonds.................................................. 1880 t o ’86 .,000&c
1887 & 1889
L A O . ! ioston, Bank Redemption.
220,000
5
Cambridge, Maes.—City bonds............................ 1864 & ’77 1,000
Jan. 1,1893
150,000
1,000
5 g. r. a j . Boston, Tremont Bank.
1863
City bonds.........................................................
1890 to ’96
r. a j . Boston. Bank Redemption.
347,000
6
do
.......................................................... 1870 to ’76 500 &c.
do
July, 1903-4-5
do
r. a J.
689,000
6
do
.......................................................... 1873-’74 500 &c.
1895 & 1905
do
do
265.000
4
do
.........................................................
Nov. 1. 1896
do
do
25,000
31«
do
................... .....................................
1887 to ’ y7
do
Various
do
1,311,000
6
Water loa n ........................................................ 1867 t o ’77 500 &c.
do
189*-’98-1910
do
4A5
1,000
336,500
do
(only $12,500 are 5s)...................
1906 and 1911
do
do
218,000
31«
do
..........................................................
1890
Charleston, Treasury
J. A J.
92,800
7
1866
Charleston, 8. 0 .—Fire loan bonds, ooupon —
1888 to 1897
do
A. A O.
500.000
7
Conversion bonds, to redeem past-due debt..
O c t ,1898
do
A. A O.
109,500
6
1878
do
do
do
July 1, 1909
do
10Ö*&c.
4
J. A J.
3,413,600
1879
do
coup, or reg.......................
1887 to 1908
286.000
6
Chelsea, -Mas*.—Sinking rund bonds..................
1887 to 1888
25.000
51«
Bonds.................................................................
1891 to 1895
Various Boston, N. Bk. Redemption
992.000
6
1,000
Funded debt, coup........................................... ................
1889-1890
96.000
41«
do
notes........ ..................... .............
F. A A Boston, N. Bk. Redemption lug. 1 ,1887-’95
1,000
200.000
6
Water loan, coup.............................................
1897 & ’98
J. A J. N. Y., Am. Ex. Nat. Bank.
132,000
6
500, Ac.
Chicago—Water loan............................................
do
lily 1, ’88 to ’95do
j . A J.
3,490,000
1,000
7
Water loan.........................................................
1902
do
do
333,000
3-65 J. A J.
100, Ac.
1882
Water loan (refunding)...................................
1883 to ’95
do
do
J. A J.
1,675,000
500 Ac.
7
Sewerage bonds................................................
July 1,1900
do
do
489,500
41« J. A J.
1880
do
................................................
1890 to ’95
do
do
J. A J.
2,608,000
1,000
7
River improvement bonds..............................
July, 1895 & ’96
do
do
186,000
J. A J.
1,000
6
Municipal bonds.............................................. .
1887 to ’99
do
do
2,536,500
J. A J.
7
500 Ac.
Municipal and School bonds...........................
1901
do
do
843,500
4
1881
Municipal bonds (refunding loan)................ .
N. Y., Metropolitan Bank. May 1 , 1887-’92
4,941,500 41« to 7 M. A N.
Cook County debt...................... . . . . . . . . ......... . 1865 to ’80 500 Ac.
June, 1888
250,000 7 3-10 J. A D. N.Y., Am. Exoh. Nat. Bank.
1,000
K
1868
1889
do
do
150,000
7 3-10 J. A D.
1,000
3
1869
Jan., 1890
do
do
98,000
J. A J.
1,000
6
P
1863
Nov., 1890
do
do
194,000
M. A N.
6
1,000
S
1855
Bonds toO. & M. R R . to purchase whf. prop. .N
April, 1895
397,000
A. A O. Phila., Bk. of North Amer.
6
Bonds for ext. and impr. Water W. -C, D. & E 1847 t o ’50 500 Ao.
May, 1897
do
do
171,500
M. A N.
6
2 1847 to ’48 500 Ac.
1897 & 1898
750,000
1,000
7 3-10 Various N.Y , Am. Exoh. Nat. Bank.
2 1867-’68
Jan., 1900
do
do
60,000
J. A J.
1,000
6
L
1853
Various Phila., Bk. of North Amer. J
175,000
1,000
6
F 1851-’53
Cincinnati.
131.000
M. A 8.
1,000
6
0
1858
Sept., 1899
150.000
1,000
7 3-10 M. A 8. N. Y., Am. Exoh. Nat. Bk.
R
1869
Sept., 1899
do
do
150,000
1,000
7 3-10 M. A 8.
[J
1869
O ct, 1899
do
do
100.000
1,000
7 3-10 A. A O.
(3
1869
Aug., 1897
do
do
F. A A.
300,000
1,000
7
!5 1871-’72
Deo. 1,1891
do
do
600,000
J. A D.
1,000
7
r2
1871
July 1, 1902
do
do
8,191,000
7 3-10 J. A J
500 Ac
1872
Cincinnati Southern RR........
May 1, 1906
do
do
4,825,000 6g. or 7-3 M. A N
500 Ac
s)
1876
do
do
($2,890,i
1902-1908-1909
do
do
2,260,500
6 A 7 Various
.. 1878 & ’71 1,000
do
do
..............
May 15,1904
Cincinnati.
M. A N
995,000
1,000
7
1874
Floating debt bonds, ooupon.
1890
65,000
J. A J N. Y., Ain Exoh. Nat. B’k
1,000
7
1875
Park improvement........ .........
Aug.,’90 A ’95
Cincinnati.
F. A A
200,000
1,000
7
>1
1875
May 1889-1909
175,000
5 A 6 M. A N N.Y., Am. Exoh. Nat. Bank
1,000
12
1879
May 1,1906
Cincinnati.
M. A N
50,000
7
13
1876
Aug. 1, 1897
76,000
7
If . a a
!2
1887 to ’95
Cincinnati.
884,067
5 A 7 Variouc
.. 1876 to ’82 Various
Street improvement bonds, short.
2,067.000
4 A 5 Various N. Y .t Am. Exoh. Nat. Bk. 1930 & 1931
0, 1880 & '81 1,000
1889 A 1890
.—
64,706
4 A 5 Various
J4
July 1,1887 ts 92
Cincinnati.
79,000
100
4 A 6 J. A J
1882
Work House and Infirmary..................
June 1,1901
J. A D N. Y., Am. Exch. Nat. Bk.
500,000
4
100 Ac
1881
Deficiency loan (redeemable after 188 P i
1905
.......
2,473,000
Variouc
4
Deficiency and pavement bonds (10-20 yr.) .. 1885-’86.
1892 A 1903
1,775,000 3-65 to
Various N. Y., Am. Exch. Nat. Bk.
.). 1872 t o ’8i 1,000
1887 t o ’97
do
do
1,909,000 4, 5, 6, 7 Variou
Funded debt................................................... .. 1872 t o ’81 1,000
1887 t o ’92
do
do
515,000
Variou
1,000
7
Taira View, Wade and Monumental parks .. 1872 t o ’8
1894 t o '98
do
do
275,000
6 A 7 Variou
pn «.i and oanallook ($11,000 are 6 s ) ----- .. 1874 to ’7 ) 1,000
1887-’88
do
do
85,000
Variou
7
.. 1869 t o ’7 L 1,000
School ($100,000 are 6 p. ot.).....................
1888-1901
do
do
4-41« Variou
256,000
General bonds, various purposes.............. .. 1885-86
1893 & 1907
do
do
2.138,000 5. 6 A 7 Variou
1.) 1873 t o ’7 ? 1,000
1901-2
do
do
Variou
335,000
4
1886
Elevated R adway.............................
1887-’95
do
do
695,900
1,000
4, 5, 7 Variou 9
Special bonds.......................—
1899-1902
do
do
225,000 4. 4»«, 5 Variou 3
... 1884-5-6
Kingsbury and Pearl Street Bridges.
228,000
7 A 4 J. A J . New York, Kountze Bros. July, 1887 or ’92
1,00C
1875
I
’ ts Moines. Iowa—Renewed judgment
175.000
J. A J . N. Y. Chemical Nat. Bank. July, 1888 or ’98
1.00C
7
1878
Funding bonds, redeemable 1878—
Various.
Des Moines and Boston.
Variou
182,000
5
di. 1882 & ’8 4
1887 to 1906
N. V., First Nat. Bank.
4 to 7 Variou
lit 1855 to ’8 l 500, Ac». 1,451,000
1887 to ’91
do
do
Varioui3
412.500
... .
7
.. 1859 t o ’7 1
Pubuo Building stock (City Hall) bonds.
Yftüra
Rem estate.
Personalty. Tax Rate.
16 27
I
f
l
................... . . . 93,167,090
8,796,675
16 44
Î qcÀ.............
96,341,455
8,459,735
17 21
Î qqÎ ..................
99,912,470
8,461.675
17 27
Jggg...............................
113,963,945 8,405,225
Buffalo "also pays 77-100 of Erie county debt. Coupon bonds are exchange
nhle for remstered. The interest on different bonds is 31«. 4, 4*3, 5,6
and 7. Population, 202,818 in 1885; 154,766 in 1880; 117,714 in 1870.
C a m b r id g e , m a s s .—The sinking funds, Nov. 30,1886, amounted to
£1 299 188, and net debt to $2,208,311. The investments are nearlyall
in ’ eitv bonds at par and stamped “ not negotiable. Valuation, 1885,
real estate $42,588.300; personal $12,758,255; total, $55,346,555; tax
rate SI 55. Valuation m ’86, $44,''55,200 real estate and $14,4i'0,470
personal; total, $59,445,670; tax rate, $1 50 per $100. Population,
52.669 in ’80; 39,634 in ’70.
„
.
....
C harleston. S. C.—The bonds of Charleston are mostly held within
the State of South Carolina. Conversion bonds of 1878 and 1879 are issued
tav rata nfir
Ofifl have been:
.
, ____r__ VolnoHnna
Tax Rate.
Personal Prop.
VAftm
Real Estate.
$23 80
-.«Sr*
$15,854,575
$7,419,784
20 00
,0 0 4 ..................
16,246,865
3.186,216
20 00
1885'“ ’ *” !!"-"’ .................. 16,753,760
8,138.153
_Population, 49,984 in 1880; 48.956 in 1870.
Chelsea, M ass.—Sinking fund, Jan. 1,1887, $365,712, and net debt,
£1 296 087. Valuation in 1886, real estate, $16,530,850, and personal,
*2,275,812; total, $18,806,662; tax rate, $17 80. Valuation in 1884.
* 1& 153.497; tax rate, $18 60; in 1883, $17,374,335; tax rate, $18 40;
Si 1882, $17,029,722; tax rate, $18 80. Population, 21,782 in 1880;
18 547 in 1870; 24,347 in 1884.
Chicago.—The city debt is limited to 5 per oent of the Illinois State
valuationT Of the funded debt, $3,955,000 is on account of the Water
Works which yield an income muon above the interest charge on the debt
"
’
,-------- Equalized Value.-------- ■ Tax Rate
>
Vs«™
Real Estate.
Personal. per $1,000.
33 72
•JO 2
Q
95,881,71429,052,906
. 410
................
101,596.787
31,639,717
35 48
i l o ? ................
105,606.743
31.720. V -7
S
36-81
jg g g ................................
107,146,88132,311.411




AUD O O O U value Ui loan oouaw w
O CO G

va *vV

_
,, _r---%

Population in 1870 was 298,977, and in 1880,503,185. The South Park,
West Chicago Bark and Lincoln Park loans are not debts of the city,
but of distinct corporations.
C incinnati.—In addition to the bonds as stated above, city holds
$1,274,000 of Cin. South, bonds in sinking funds and $474,473 Street
Improvement bonds. In 1870 the population was 216,239, against
255,139 in 1880. The following table from the books of the Auditor of
Hamilton County, Ohio, exhibits the assessed valuation of the city of
Cincinnati in the year 1860, and from 1870 to 1884:
Tax per
Total
Personal
Real
$1.000.
Valuation.
Estate
Years.
Estate.
$17 45
$93,032,716
$31,411,912
1860................ $61,620,904
31 60
136,107,236
57,370,754
1870
.... 78,736,482
22 20
180,361,932
56,934,044
1871
.... 123,427,888
20 10
175,084,296
55,462,410
1872
......119,621,856
23 06
185,645,740
64,166,460
1873
......121,479,280
23 38
181.950,074
58,708,284
1874
......123,231,790
24 82
184,498,565
58,521,730
1875
.... 125,976,835
27 04
183,952,966
56,809,066
1876
.... 127,143,900
29 10
179,430,142
50,609,872
1877
.... 128,820.270
28 54
172.874.068
43,830,188
1878
.....129,043,880
28 98
169,305,635
40,832,505
1879
.....128,473,130
31 00
167.535,356
37,578,376
1880
..... 129,956,980
22 20
161,404,393
41,359,163
1881
.....120,045,230
23 82
166,986,105
28,643,917
1882
..... 138,342,188
20 50
169,925,286
47,050,496
1883
..... 122,874,790
25 56
169,534,192
41,908,822
1884
..... 124.625,370
26 86
170,086.968
42,632,868
1885............... 127,454,100
25 44
171,950,031
lo o o
1886 ...............42,571,661
.... 129,378,370
IThe city is the sole owner of the stock of the Cincinnati Southern Kinroad, leased as per terms, V. 33, p. 281, and with the waterworks ana
other property, real estate, and bonds held for investment, has asset*
put at $36,554,631.
Cleveland.—The sewer, street miprovem’ts and street opening bond»
are for Special loealimprovements, and redeemed bv assessments on tne
property benefited. Assessed valuation, tax rate, debt and sin am*
funds have been:

CITY SECURITIES.

M ar c h , 1887.]

9

S n bscriberg w i l l c o n fe ^ a _ g r e a t f a v o r b y g iv i n g Im m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In th e » « i T b i e s .
DESCRIPTION.

For explanations see notes on first page of tables.

Date of
bonds.

Size or Amount
par outstanding.
value.

Detroit, Michigan—(Continued) —
Public sewer bonds ($35,000 are 6s).............. 1872 to ’77
1879
Bonds for purchase Belle I s le ................ .
1886
Bonds for Bridge.............................................
5.000
1886
Publio Improvement........................................
1.000
1880
Market bonds......................... --•-•*.................
Elizabeth, If. J.—Improvement bonds............... 1871 t o ’74 1,000
Funded debt bonds........................................... 1870 t o ’75 1,000
School House bonds.......................................... 1872 to ’73 1,000
Market House bonds........................................ 1865 t o ’66 1,000
Consolidated improvement bonds...................
1875-’76
1,000
Funded assessment bond s..............................
1877
1,000
Tax arrearage bonds...................... ................
1876
1,000
New Adjustment bonds and scrip..................
1882
500 &c.
Evansville, Indiana.—E. H. & N. RR. bonds...
1868
1,000
City wharf bonds..............................................
1869
1,000
E. Carmi & Paducah RR. bonds.....................
1870
1,000
do
do
.........................................
1870
1,000
Water works bonds..............................
1870
1,000
Redemption bond s...........................................
1876
1,000
do
do ............................................
1876
1,000
do
do ............................................
1877
1,000
do
do ..................................... ........
1878
1,000
do
do ............................................
1881
1,000
fall River, Mass.—City notes............................. .
Large.
City bonds..........................................................
lOOOAc.
......................................................... .
do
1,000
do
........................ - ............................... .
1,000
do
...........................................................
........ .................................................
do
do
(sewer)..............................................
1,000
Water loan......................................................... .
1,000
do
..................... - ................................. .
1,000
do
...........................................................
1,000
do
........................... ..............................
Fitchburg, Mass—City bonds..............................
1873
1,000
Water loan................................... .....................
1871
1,000
do
......................................................
1875
1,000
do
registered..........................................
1883-6
1,000
Qalveston, Texas- Bonds for various purposes... 1.869 to ’75 100 &o.
Limited debt bonds (sinking fund 2 per cent). 1877-8-9 100 &c.
do
do
— .....................................
100 Ac.
Galveston County bonds, G. C. & 8. F. R R _
_
1882
Hartford, Conn.—Water bonds...........................
1865-’81
1,036
City bonds (H. P. A F. RR.).............................
1876
1,000
Funded debt......................................................
1868
1,000
Capitol bonds....................................................
1872
1,000
Hartford town debts to railroads 10-25........
1879’80
1,000
do
do
war...............................
1863
1,000
do
floating debt............................
1.000
Hoboken, N. J.—Bonds........................................
1864-'’79 500 Ac.
City bonds.........................................................
1872
500 Ac.
School bonds........ ...........................................
1877’79
1,000
Water bonds.....................................................
Various. 500 Ac.
Improvement bonds.......................................... 1878’81
1,000
City Hall and Engine House bonds................
1880- ’ 83
1,000
Holyoke, Mass.—City notes................................
1871-’74
City bonds, sinking fund..................................
1874
1,000
Water loan
do
...................................
1872
1,000
Railroad loan do
($60,000 are J. A J.)
1873
1,000
Indianapolis—Bodds to railroads..... ................ 1869 to ’70
500
Bonds to Un. RR. Tr. Stock Yard (mortgage).
1877
1,000
Loan bonds, series A .....................................
1873
1,000
do
do B.
1874
1,000
do
do 0
1874
1,000
do
do D
1875
1,000
Purohase-money bonds—Southern Park_____
1874
500
Jersey City—Water loan bonds, mostly ooupon 1852 to ’77 1,000
Water loan bonds,mostly coupon.................... 1869 t o ’73 1,000
Water loan..........................................................
Forty-year bonds................................................
1872
1,000
Improvement bonds........................................... 1871-’72 500 Ac.
do
do
........................................... 1872 t o ’74 1,000
Morgan street dock...........................................
1870
1,000
Funded debt bonds........... ................................
1872
1,000
Old Jersey City bonds, ooupon......................... 1864-’65
1,000
Hudson City bonds............................................. 1864-’70 Various
Bergen school loan bonds.................................. 1868-’70 l,000&o
Bergen street improvement b ond s..................
1869
l.OOOAc
do bounty loan. . .......................................
1865
Various
Assessment funding bonds.............................. 1875-’76
Temporary loan................................................
Bonds to fund floating debt. Ac., coup, or reg.
1879
1,000
Bonds to pay maturing bonds, A c....................
1880-’l
City of Jersey City loan.....................................
1884

$292,000
100,000

30.000

100,000

36.000
850.000
435.000
48.000
41.000
764.000
260.000
196.000
(!)
250.000
100.000

196.000
100.000

300.000
300.000
105.000
100.000
100,000
100,000

311.000
45.000
600.000
450.000
100.000

261,860
125.000
500.000
450.000
550.000
200.000

400.000
300.000
100.000

85.000
21,800
510,100
808,900
417.000
912.000
500.000
300.000

1,000,000

1.250.000
70.000
203.000
224.000
119.500
43,750
91,500
608.000
75.000
180,000
271.000
250.000
226.500
155.000
500.000
300.000
300.000
300.000
200.000

109.500
984.000
3.329.000
200.000

517.000
2.669.000
2,630,500
125.000
500.000
558.000
100.000

150.000
400.000
41,000
900.000
975.000
1.353.000
600.000
1, 000,000

Years. Real A Personalty. Tax $ 1,000. General Debt
Special Debt.
$14210
$6,386,000
1884 ........ $85,978,005
$875,800
18d 5
88,285, 845
147op
6,917,000
708,000
—Population, 160,146 in 1880; 92,829 in 1870.
-» 5 * ? <i?o ln e *»
Assessed value of property $7,200,000, which is
20 Per cent of true value. Tax rate, $5 per $100. Warrants outT
i 88®, $90,082; cash on hand, $51,275. The renewed
i ^ ^ 6- in 18^*22^400’00° 816 P&id °ff JUl7’ 1885, ^PUhttionin 1870,
n
qqq14»
There are also $10,000 House of Correction bonds
9ft?3, „ £ 88et8 ™ sinking fund July 1,1885, $838,238; net oity debt,
The Population m 1870 was 79,577; in ’80,116,340; in 1883
* “L, ,Yalue of water works is about $3,500,000, against
L e isan^i ®1> 1>
451 000 September, 1885. The water works bonds
0 a.Pledge1of the city credit, and $75,000 per year oolleoted
tax^ate have b ^ t6^68t ° n tliem' Valuations (based on true value) and

18848'
^ 7Q
S
^
Personal.
Total.
Tax Rate,
lo o f ........$27,928,880
$110,721,995
$11-44
1885 .... 87,536,645
28,713,300
116,249,945
10*77
Hnu£l^ to£tlH N* J*—Default was made in interest February 1,1879.
*2 w s Sm »nds are pentoig. Old unadjusted bonds and loans are
bonded and floating debt July 15, 1885. $4,204,vain«
L?
0
W8ue 4 ? er cent bonds at 50 per cent oi the face
n«w w e » 1 b0Ilds was made, and a considerable amount of the
£
Yo7k
b ee* hsued. The Mercantile Trust Company in New
Assessed valuations and tax rate have been as
®64- in £ J 882A% \V rB ’035J rate, 3-12; in 1883, $12,471,115, rate,
to
ln 1885 $12,465,760, rate 2-64;
20 8^9. flf«2’ 6? 8i 7«10{iS'i!e’ 2‘72, Population 1880, 28,229; in 1870,
6
’ e8timated in 1886 to be 32,600. (Vol. 42, p. 93; V. 44, p. 211.)
hasheen default in payment of interest
? o f E t i 8 u rA; compromise is in progress, and O. H. Venner A
issue 41« S ^ S i^ - i s ^ 8 .e“ eiroularsin regard to it, the plan being to
U
tion7r
lorBodomption 6s, and 5 per oents forRedemp&1880
1 4’ E' 335. Populafion in i 870, 21,830;
»ad debt h avetb e^ n ^ ^ »va lu a tion (true value), tax rate per$l,000




1

Rate.
6A7
4
3^3
31«

INTEREST.
When
Where payable and by
payable
whom.
F. A
F. A
J. A
J. A

Principal—When
due.

A. N.Y. First National Bank,
A.
do
do
J.
do
do
D.
do
do

1892 t o ’97
1899
Jan., 1911
Deo. 1,1919
1887-1892
y ' Various
City Treasury,
1879 t o ’81
7
Various
do
1882 t o ’95
7
Various
do
1882 to ’93
7
Various
do
1882 to ’86
7
A. A O.
do
1885 to ’96
7
J. A D
do
1907
7
M. A N
do
1886
4
J. A J N. Y., Mercantile Trust Co.
July 1, 1912
7
M. A N N. Y., Farmers’ L. A Tr. Co,
Maj 1, 1898
7
M. A N
do
do
May 1, 1899
7
J. A D
do
do
Deo. 1, 1890
7
J. A D
do
do
Deo. 1, 1895
7 3-10 J. A J
do
do
July 1, 1895
7
A. A O
do
do
April 1, 1906
7
M. A N
do
do
May 15,1906
6
J. A D
do
do
June 1, 1907
6
do
do
April 15,1908
6
F. A A,
do
do
Feb. 1,1911
3 78, 4, 6 Various
City Treasury,
Nov., 1887 to ’ 92
6
Various
do
1891
8 g. F. A A
Boston, Revere Bank.
Aug. 1,1894
5 A 6 M. A N, Boston, Bank Redemption,
May 1,1895
4
do
do
May 1, 1895
5 A '6
do
do
1896-’97-’98
City Treasury.
3% M. A N.
May 1,1905
Boston, Bank Redemption, Feb. 1,1900-1909
6
M. A N,
do
do
Nov. 1,1892-1906
6
F. A A,
do
do
Aug. 1,1899-1905
May 1,1908-1909
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 1,1905-1906
3*9 A 4 A. A O.
City Treasury.
1898 A 1903
10
Various Galveston, City Treasury
1887 to ’91
8
M. A S.
do
1893-1909
5
J. A D . New York or Galveston.
1920-1925
6
J. A J. N. Y., Bank of New York,
1902
5 A 6 Various
City Treasury
1890-1906
6
J. A J.
Suffolk Bank, Boston.
Jan. 1, 1891
6
J. A J.
City Treasury.
Jan. 1, 1893
6
A J.
do
Jan. 1, 1897
4*2 J. A J.
Town Treasury.
10 to 25 years
6
J. A J.
do
$10,000 yearly
6
A J.
do
Jan., 1900
6 A 7 Various First Nat. Bank, Hoboken
1887 to 1905
7
A. A O .
do
do
1892
6 A 7 Various
do
do
1892 to 1894
5, 6 ,7 Various
do
do
1890 to 1903
5 A 6 Various
do
do
1898 to 1901
5 A 6 Various
do
do
1903 to 1910
4 to 7 Various
City Treasury,
1887 to 1889
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
Jan.
City Treasury.
Jan. 1, 1889 to ’90
6
J. A J. N. Y., Winslow, L. A Co.
Jan. 1, 1897
73
do
do
July 1, 1893
7-3
do
do
July 1, 1893
7-3
do
do
July 1, 1894
7-3
do
do
July 1, 1895
7-3
do
do
Jan. 1, 1899
6
J. A J. N. Y., Merch. Ex. N. Bank Jan., 1889 to 1909
7
do
Various
do
1899 to 1913
5
do
do
Feb. 1,1913
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
7
Various
do
do
1889-1890
7
Various
do
do
1889 A 1900
7
J. A J.
do
do
Jan., ’98 to 1900
J. A J.
7
do
do
July, 1889
7
Various
do
do
1889
7
Various
do
do
1905-1906
51«
Demand,
6
F. A* A. N. Y., Merch. Ex. Nat. B’k.
Feb.l, 1909
5 A 6 Various
do
do
1910-1911
6
1904

Years.
Real Estate.
Personalty.
Tax.
Debt.
$8,519,820
$10 00
1884...................$13,527,090
$1,651,000
1885 ................... 13,666.645
6,682,895
10 00
1.651,000
1886 ............... .............$17,273,340---------- •
- (V 41, p. 494,527; V. 43, p. 607; V. 44, p. 335.)
, S1 ! ! R iv e r , M a s s .—The sinkin i funds amounted to $961,389 Jan. 1.
»
1887. Population In 1885, 56,863; 48,961 in 1880; 26,766 in 1870
Valuation in 1885, $43,815,275.
F it c h b u r g , M a s s .—Population 12,270 in 1880; 11,260 m 1870
Assessed valuation of real estate (about cash value) in 1886, $8.422 675; personalty, $3,071,886; tax rate, 18-20 per $1,000; in 1887. real
$3,820,075; personal, $3,125,313; tax rate, $17-40.
, G a lv e s to n , T e x a s .—Assessed value of real and personal property.
1885-86, $22,000,000. 1884-85, valuation, $18,588,196; tax rate 1 50.
Hi April, 1882, the Galveston County 10 per cent bonds were oalled
in and 6 per oents issued instead. Population m 1870, 13.812: in
1880, 22,248; 1886, estimated, 42,000.
H a r t f o r d , C o n n .—Total oity debt, April 1,1886, $2,784,882; net.
Sver deducting resources, $1,948,071; net town debts, Oot. 1, 1886.
?Ax2X
X>758- Assessed valuation in 1884, $46,000,000; in 1885. $45.898,365. Population, 42,553 in 1880; 37,743 in 1870.
H o b o k e n , N. J . —
The total debt June, 1885, was $1,161,750
Assessed valuations in 1884: Personal, $1,343,941; real estate, $14,672.700; tax rate, 2-35; population, 35,000.
'
* H o l y o k e . M a s s .—Bonds all coupon, but oan be registered. Total net
debt, $734,206. Valuation, 1885, $16,135,525; tax rate, $17 20. Valu$15.527,995; tax rate, $14 80. Population, 21,915 in
1880; 10,733 in 1870; 27,895 ln 1885.
’
I n d ia n a p o lis .—The School Board Is a distinct organizat’n and levies
its own tax ($2 20 for 1884), which is included in tax rates. There
a lew other small issues amounting to $50,000. PoDulation, 75.056
m 1880 ; 8.244 in 1970. Valuation and tax per $1,000 have been:
Years.
Real Estate.
Personalty.
Total.
Tax.
$13,792,290
$53,128,150
$11-20
J
-888................. $39,335,860
4884 ........
40,149,950
13,891,650
54.041,600
12-20
J e r s e y C ity .—One oi the main causes 01 past trouole m jersey City
finances has been the failure to collect back assessments and the large
amount of railroad property exempt from taxation, but these matters
are being remedied and RR. property is bearing a share of the taxation.

INVESTORS’

IO

SUPPLEMENT,

[V ol . X L iy.

great favor by giving Im m ediate notice of any error discovered in these Tables.
INTEREST.
Principal—When
Amount
Size or
Date of
DESCRIPTION.
Due.
Where Payable and by
When
par outstanding. Rate.
Bonds.
Whom.
Payable
Value.
For explanations see notes on first page of tables
New York, Ninth Nat. Bank 1895 t o ’98 A 1901
$390,000 6, 7 A 8
Kansas Oily, Mo.—Renewal bonds...................... 1876 to ’81
May 1,1893
do
do
8
250.000
1873
Funding bonds............... ...................................
1895
do
do
J. A J.
8
142.500
1875
Floating debt bonds ............................. - .......
1890 A ’97
do
do
7
248.000
Railroad bonds...................................................
1905
J. A*J.
5
60,000
1885
School bonds.......................................................
Lawrence or Boston.
J. A J.
4
300.000
500Ac.
1884
Lawrence, Mass.—Sewer lo a n ........ . . . . . . . . . . . .
1887 to 1894
Various Boston, Tremont Bank.
6
459.000
1891-95
Funded d e b t................... ........... --......... -....... 1862 to ’75 5000&C.
Lawrence, Mass,
J. A D
4
150.000
Oct. 1, ’90. to 1906
do
........................................................ 1881 to ’85 10,000
do
do
A. A O
6
1.300.000
1873-’75 500 Ac.
Water loan................................- .........................
n instalments.
N. Y. City A L L City.
6 A 7 Various
911.500
Long Island, C ity- General bonds...................... Various. Various,
1889 to 1903
do
do
5 A 6 Various
438.500
500
1883-’86
Tax or revenue b on d s........ ................ .
1887, ’89, 97
Various N. Y., Bank of America.
6
1.173.000
Louisville, E#.—Water works.............................. 1857 t o ’67 1,000
1887,’ 96, ’97
Louisville.
Various
197.000
1866 t o ’67 1,000
For improvement of streets........... .
1923
New York City.
J. A J
1.500.000
500 Ac
1883
For municipal improvement........................... .
July 1, 1903
J. A J. N. Y., Bank of America,
600.000
1,000
1873
Re-constructing street......................................
1891, ’92 A 1903
do
do
Various
549.000
Publio buildings and institutions.................. 1871 to ’73 1,000
1887 to ’89
Various New York, U. S. Nat. Bank.
66,000
Public school and school houses..................... 1853 t o ’69 1.000
July, 1898
J. A J. Louisville, City Treasurer.
81,000
1,000
1868
June, 1901
Sewer bonds.......................................................
J. A D. N. Y., Bank of America.
423.000
1,000
1871
1888 A 1903
do
......................................................
do
do
Various
1.723.000
Elizabeth A P. Railroad................................... 1868 & ’73 1,000
1888 to 1898
Various Louisville and New York,
160.000
’54,’62,3,8 1,000
Oct. 1, 1898
Wharf property.................................................
do
do
A. A O
133.000
1,000
1869
1889
Jail ....................................................................
do
do
J. A D
58.000
1894 A 1901
For old liabilities..........................- .................. 1871 to ’74 1,000
do
do
Various
513.000
1,000
1868
Sept., 1891
do
do
................................
M. A S. N. Y., U. S. Nat. Bank.
484.000
1,000
1871
Louisville, New Albany & St. L. Air Line RR
J. A J. N. Y., Continental Nat. Bk July, 1901 A 1903
350.000
1871 t o ’73 1,000
Road bed, LouIbv., Cin. A Lex. RR
1887 to ’93
Various New York and Louisville.
1.408.000
1851 t o ’63 1,000
City bonds payable by Louisv. & Nash. R R ...
Mav 1, 1920
M. A N. N. Y., Bank of America.
1 , 000,000
1,000
1880
Ola liabilities (half are 10-40 and half 20-40).
1887 to 1894
City Treasury.
Various
469,300
Lowell, Mass.—City notes (various purposes). .. 1862 t o ’84 Large.
1891 and 1892
Boston,
M. A N
200.000
Large
1882
1892
Bridge notes.......................................................
do
M. A N.
120,000
1,000
1882
1887 to 1903
Bridge bonds......................................................
do
Various
382.500
1887 to 1911
Sewer bonds........................................................ 1882 & '83 1,000
City Treasury.
Various
575.000
1890
Water notes........................................................ 1871 t o ’ 81 Large.
Boston.
M! A N
1.300.000
1,000
1870
10 per ct. annually
Water bonds........................................................
City Treasury,
Various
176.500
1883 A 84
10 per ct. annually
Sewer notes.........................................................
do
Various
77.000
1883
1887 to 1890
Bridge notes........................................................
City Treasury.
Various
172.500
1891 to 1913
Lynn, Mass.—Water notes................................... 1870-’3-’5 Large.
Boston, Bank Republic,
J. A J
1,1.9,500
1,000
Various
1887 to 1896
Water bonds........................................................
do
do
Various
595.000
1887 to 1890
Funded debt........................................................ Various 500 Ac.
Various CityTreas’ry A Bk. Repub.
232.500
1,000
City Hall and School Houses............................. Various
do
do
Various
246.000
1,000
1884
Engine House and sewer bonds........................
1887 to 1894
City Treasury.
Various
313.500
Manchester, If. E .—City bonds............................. 1869-’85
July 1,1890 A ’95
Suffolk Bank, Boston.
J. A J
200.000
1872-’74 lOÖÄc.
UTater bonds ($100,000 each year)................
1887-’92-’97-1902
City Treasury,
J. A J
400,000
do
do
do
.................. 1872-’74 100 Ac.
July 1, 1911
do
J. A J.
60.000
100 Ac.
1881
1873 to 1902
Bridge bonds................... . --- - .......................
Memphis.
<
J. A J
Memphis, Tenn.—School and paving bonds........ 1867 to ’68
6
1873 to 1900
Nov., 1900
Post bonds........................................................... 1867, ’8. ’9 500 Ac
(SO.
M. A N
6
1,000
1870
Funding loan, gold.....................- ......................
6
Mississippi River Railroad bonds.. . . .. . . ........
July, 1872
Charleston, 8. C.
A J
7
1,000
1857
Endorsement Memphis & Little Rook R R .. . . .
1907
A J. N. Y., Nat. Park Bank,
6
1,000
1877
Compromise bonds, ooupon (Flippen).............
1913
do
do
3-4
2.400.000
1,000
1883
New compromise bonds.....................................
June 1,1891
'jT •X• Morton B. A
v f U IU
J. A D. Mil. A N. Y., IH l lA JJ. « Co.
5
125.000
500 Ac,
1861
Milwaukee, IFi«.—Re-ad)ustment bonds.............
Jan. 1,1901
do
do
J. A J.
7
194.000
1,000
1871
June 1,1896
General oity bonds........
do
do
J. A D.
7
98.000
1,000
1876
do
do
(not liable to be called m)
Julyl, 1905A1906
do
do
J. A J.
4
293.000
1885-6
July 1,1902
do
do
..........................................
do
do
J. A J.
4
64.000
l'.ÖÖO
’83
Jan. 1,1902
Bridge bonds....................................................... 1882do
do
J. A J.
7
342.000
1,000
1872
Jan. 1,1902
Water bonds, ooupon.........................................
do
do
J. A J.
7
949.000
10,000
1872
1903 A 1906
do
registered....................................
do
do
J. A J.
4
378.000
1903-1904
do
coupon
................................ 1883- ’86
do
do
J. A J.
4
263.000
1,000
1887-1905
Waterworks refunding .................................... 1883-’84
Various New York, Nat. Park Bank
8
621.000
1893-1902
Minneapolis, Minn.—City oonds........ - .............. 1870 to ’75
do
do
422.000 5, 6 ,7 Various
1871 t o ’81
1906 to 1916
do
do
4- 4 *2 Various
1.957.000
V
“ ($366,000 due" i 912are" red. 1.902). 1881 t o ’86 1,000
1914 to 1917
do
do
4-4*2 Various
739 000
1,000
Jan. 1, 1906
do
.......- ............................................... — 1886-’87
New York and Mobile.
3 to 5 J. A J
2.250.000
500
1881
1887 to 1903
Mobile—Funding bonds................... - ..................
Various New York and Nashville.
6
1,395,600
100 Ac.
Nashville. Tenn.—Various oity bonds................ 1870 t o ’81
Oct. 1. 1905
N. Y., Chemical Nat. Bank,
A. A O
5
200.000
1,000
1885
1907-1915
Municipal Bridge bonds.....................................
do
do
6
450.000
1891 A 1896
Waterworks................... y .y ;;
Newark, City Treasury,
Various
7
550.000
1,000
Newark—War bds.,float’g debt, Ac. (s.fd. of ’64)
1887 to 1891
do
do
580.000 4*s, 5, 7
Publio sohool bonds......... ......... ....-----....... - - 1868 t o ’86 1,000
July 1, 1895
J. A J. Newark, Nat. State Bank
7
400.000
1,000
1875
Clinton Hill bonds, coup. & reg. (s. fd. 3 p. o,).
1909 A 1910
do
do
5 A 6 Various
1.200.000
1,000
Corpora te bonds, coup, or reg. (act Apr. 21,’76) 1878-’80
1893 A 1906-’09
do
do
2.450.000 4,4*ato7 M. A S.
Sewer and improvement bonds (local liens). . ’71-’79-’86 1,000
189 2 to 1909
do
do
Various
7
3.497.000
1,000
Aqueduct Board bonds($2,490,000due in ’92) 1867-’86
1887 A 83-’90
do
do
F. A A.
7
476.000
1,000
1877-’78
1891-95
Tax arrearage b o n d s ................................
do
do
F. A A.
5
1.114.000
1879 to ’85 1,000
do
do ................................... .
July 1.1896
41g J. A J
do
do
96,000
1886
1895
do
do ...........................................
do
do
F. A A
5
232.000
1885
1906
Funded debt bonds...........................................
4
126.000
1,000
1886
Annexation bonds, reg......................................
1906
4
158.000
1886
1891 to 1910
City ta x........................... ,....................- ............
City Treasury,
6
328.000
New Bedford, Mo«».—City improvement............ 1875-86
1900 to 1904
do
5
100.000
1876
Water bonds.............................................. - .......
1887 to 1909
do
6
360.000
1887 to 1909
do
........................................................... 1867 to ’7b
do
7
160.000
1894
do
........................................................... 1872-’74
do
4
100.000
1884
do
. . . . . . . . . — ......................................
1887 to 1906
do
3*s-4
13L000
Sewer and Bridge bonds................................... 1881-’ 86
Subscribers w ill confer

Collections in 1886 were better than in 1835 by about $150,000, and
the eitv also received $220,000 from taxes on railroad property col­
lected by the State. Population in 1880,120,722, against 82,546 in ’70;
in 1885 by the State census population was 155,300. Taxable valua­
tions and tax rate per $1,000 have been
Tax Rate.
«'ears
Real Estate.
Personal Prop.
$29 00
1RQ2 ’
$56,125,552
$5,640,300
29 40
58,287,892
4,664,390
1883...........
32 80
............
61,571,512
4,564,683
29 40
ig®6................................... 61,894,739
4,985,200
------The vaiue of railroad property, not included above, is about $25,000,
000, which is subject to a tax rate of 1 per oent for city purposes.
K a n sas C ity , M o .— 1885 assessed valuation was $31,678,520
In
n,nn tax rate 15 mills. In 1886 real estate valuation was $36,833,550;
personal, Ac., $9,553,240; tax rate, 14 mills.
__.
P L a w r e n c e .M a s s .—Total debt, $1,764,000. Sinking funds, $325,534.
Tax valuation in ’84, $27,369,095; in ’85, $27,144,050; tax rate, 16-60;
in m $27,165,590; tax rate, 16-40. Pop., in 1884 45,000; 39,151 in
*80* 28 921 in *t'0.
¿ o n e I s la n d C it y .—
The interest on $514,500 of the general bonds
is payable from taxation, and on $397,000 from water rents. The tax
or revenue bonds issued in each year are chargeable on the unoolleoted
taxes and water rents of a previous year, and all interest on these bonds
is paid from the collection of back taxes and interest. The assessed
valuation in 1885 was $7,299,170 on real estate and only $37,500 on
personal property; the rate of tax was 4-04. For State purposes the
valuation was increased to $10,000,000. Real valuation about $25, 000,000. Population, 25,000.
■•
L o u isv ille.—The funded debt, Jan. 1,1885, exclusive of loans paya­
ble bv railroads, was $9,016,000, against $9,167,000 Jan. 1,1885. The
sinking funds on Jan, 1,1886, amounted to $4,390,815. Population by
Census of 1870 was 100,753, against 123,758 in 1880. The following
flirures give the assessed property valuation: 1881, $68,753,770; 1882,
S70 029T724, of which $52,269,684 was realty. In 1883 valuation
ffi66,ll8,534, tax rate 2‘10; in 1884, $63,927,077, tax rate 2-10; in
1885. $62,763,461, tax rate 2-48; in 1887, valuation, $66,500,000; tax
rate, 2-04.
L o w e l l , M as».—All the notes held by savings banks. Population




$27,548,^81; tax rate, $18'40. Population, 28,233 in 1870; abou.
^OTancii^ester, N. ML—Valuation in 1885, $21,137,464; tax rate,
$17 50 per $1,000. Population, 32,630 in 1880; 23,536 in 1B70.
M e m p h is . T e n n .—The oity was in default for interest after Jan. l',
1873 The Legislature passed a bill, January, 1879, repealing the city ®
charter, and the “ Taxing Distriot of Shelby County^’ was organized.
The compromise bonds of 1877 were issued at 50 oents on the dollar.
Under the act of Tenn. March 3,1883, new compromise bonds are issued,
bearing 3 per cent till January, 1886, then 4 per cent till 1889, and 6
per cent thereafter. The total debt when funded will be nearly
$3 000.000. Valuation of real and personal property in 1883, $12 690,318: tax rate, $2 35 on the $100. In 1884 valuation of real and per­
sonal property, $13,499,325; tax rate, $2 35. Population in 1870,
407226; in 1880, §3.592; in 1884, 62,335.
^
_K
. . ...
M ilw a u k e e , W is .—The city cannot issue debt beyond 5 per ct. of its
average assessed valuation of real and personal property i'»/five years, in
1884 valuation was $74,951,750; in 1885 real estate, $6L,44o,921 an4Pf;T
sonal, $17,415,445 ; in 1886, $32,641,743. Sinking funds are provided,
and all old issues except the general bonds due 1896 may be called m
and paid by sinking fund; holders were misled as this was
in the bonds. Population, 71,440 in 1870; in 188o (estimated), 160,000.
M in n e a p o lis . M in n .—Total debt, $3,739,000 Feb. 15,1887; sinkio?
fund $332,000; tax valuation iu 1837, $ 33,008,8 >6 real estate and
$16,582,906 personal—total, $99,591,762; tax rate, I7 ‘ io t o l9mmS.
m 1885, $77,500,000; in 1884, $74,308,711: tax rate 1885, 20 mnls.
Population, 46,887 in 1880; 160,000 (estimated) in 1886.
. .tll
M o b ile .—Interest was in default from July, 1873. A settlement wit
bondholders was offered by act of March 9,1875. In Feb., 1 8 7 9 ,the
Legislature repealed the charter of the city. In Oct., 1880, bondholders
offered to take new 25-year bonds, bearing 3 per cent for 5 years, 4 per
oent for 15 years, and 5 per cent for 5 years. In July, 1886, the on
funded debt was $34,632. Valuation oi real and perscmal property m
1883?$15,350/738; in 1884, $13,578,347, in 1885, $13,763,822. Popula­
tion 35,000 in 1885; 31,297 in 1880; 32,034 in 1870.

CITY

M arch , 1887.]

SECURITIES.

DESCRIPTION.
Date of
— Bonds,
For explanations see notes on first page of tables.
s.

Size or
Amount
par outstanding
Value.

Sew Brunswick. S. J —
Water bonds ($20,000 are 6s).

. 1864,73-74
)) 1867-69
.. 1876-78
1*73
. 1881.85

$ ....

Í871
1877
.
1885
. 1854 to ’84

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

City ta x b on d s............................................

Im provem ent b o n d s .................................
Sinking fu n d b on d s ...................................
Commissioners o f streets and sew ers.
Hew Haven, Conn.—S ew era g e..................
City bonds (10-20 b o n d s ) .......................

Sew Orleans—Consolidated debt............

Consolidated debt, e x t e n d e d .................

Ten year certificates to fund coupons.
Railroad debt (all extended except $3f
Seven per cent funding loan of 1869..
Seven per cent funding loan of 1870..

•• •
•
___
....

1883
- 1854-75
1869
1870
cl
1857
Premium bonds (in exchange)................
1875
Water Works ($70,400 extended)...........
1869
•• •
•
Other old bonds ($305,500 extended) ...
. 1857 to ’73
....
Newton, Mass.—City bonds and notes........
. 1867 t o ’86 l.OOO&c
Water loan ($600,000 6s)..........................
. 1875 to ’86 1,000
Sew York—Accumulated debt bonds, city.
1869-’70
100
Accumulated debt bonds, county............
. 1869 ’70
100
Armory bonds............................................
.
1884
500
Assessment bonds........ ...........................
. 1879 to ’84
500
Assessment fund stock.............................
. 1868 to ’83
500
Additional new Croton Aqueduct stock..
. 1872 t o ’77
500
Croton water stook...................................
. 1847 to ’52
100
Additional Croton water s tock ..............
. 1871 to ’85
500
1883 to ’84
500
Additional Water stock......................_............
1885-6
500
Croton water main stock........................ ........ 1871 t o ’81
500
Croton Reservoir bonds...................................
1866
100
Central Park fund stock................................... 1857 t o ’59
100
do
do
.................................... 1856 to ’58
100
Central Park improvement fund stock.......... 1857 to ’60
100
do
do
............. 1865 t o ’71
100
City Cemetery stock..........................................
1869
100
City improvement stock................................... 1869 t o ’78
500
do
do (cons.. $687,803 red. aft.’96 1876 to ’80
500
City lmpr. stock (cons, st’k), cp., exoh. for reg
1874
500
City Lunatio Asylum stook...................... ....... 1869 t o ’70
100
City parks improvement fund stock...............] 1871 t o ’ 80
500
Consolidated stock, county, coup., ex. for reg, 1871 & ’72
500
do
city,
do
1871 & '72
500
do
dock bonds
do
1871
500
do
city pks. impr. fd. st’k, do..
1872
500
do
red. aft. 190», cp. ex. for rg,
1878
500
do
city, coupon exch. for reg. 1874-’75
500
do
city, (A).............................. 1872 to ’74
500
do
county (A & B)..................
1874
500
do
city (B & C).......................
1874
500
do
city (D E & F)................... . 1876-’77
500
do
city ( 6 K L & M ) ............... 1877 t o ’84
500
do
city..................................... .
1880
500
do
consol, st’k (Riker’s Isl’d).
1884
500
do
1886
500
Book bonds
___________ ___________ 1870 t o ’84
500
Consol, stock (Metropolitan Museum of Art)..
1884
500
Fire Department stook...................................
1869-’70
100
Market stock....................................................
1867 to ’69
100
Museums of Art and Natural History stock! 1873 to ’81
500
N. Y. City bds.for const.of bridge ov.HarlemR. 1879 t o ’84
500
N. Y. Bridge bonds..................... ..................... . 1869 t o ’75
100
do do Consol, stock, redeem, after ’96. .. .
1876
500
do do $500,000 af. ’96,$1,421,900 af 1900 1876 t o ’80
500
do do $750,000 af. 1903, $416,666 af. 1905 1880 to ’83
500
Ninth District Courthouse bonds.....................
1871
500
Normal sohool fund stook.................................. 1871 & ’72
500
N. Y. Co. Courthouse st’k, Nos. 1, 3, 4 & 5 _ 1862 to ’82
_
100
New York County repairs to buildings stook..
1870
500
N. Y. and Westohester Co. improvement bonds
1871
500
Public school building fund stock..................... 1871 t o ’74
500
School House bonds............................................ 1884-’85
500
Street improvement bonds....................... ...II." 1869 & ’70
100
Soldiers’ bounty fund bonds............................
1864
100
_
do
do
No. 3.....................
1865
100
soldiers’ bounty fund red. bonds,No. 2...........
1865
100
Tax relief bonds, No. 2, coup. exch. for reg_
_
1870
500
Third District Court-house bonds................
1874 to ’77
500
Water stock of 1870...........................................
1872
500
Debt of annexed territory of Westchester Co.
500

Rate.

11

1
1
When
payable

$198,500
6*7
180.000
7
50.000
7
50,000
7
87,000 5 & 6 r
836,600
6 &7
499,000
7
A. & O.
150.000
5
J. & j.
150,000
3ia F. & A.
932,878
5, 6, 7 J. & J.
4,244,500
6
J. & j :
2,112,108
6
J. & J.
397.000
6
Various
567,7 0
6 & 7 M. & S.
375,750
6 * 7 J. A D.
65,500
6 &8 Various
7,584,680
5
82,400
378,130 6 to 10
415.200 319 to 6ia
1,031,000 312,4,5,6 Various
3,904,700
7
M. A N.
3,600,000
7
M. & N.
1,172,000
3
M. & N.
3,218,000 3,319,4,5 M. & N.
3,277,050 4,5,6 & 7 M. & N.
1,331.300 5, 6 & 7 M. & N.
321,400
5 &6
Q .-F .
5,609,000 3iato 6,7 M. A N.
445.000 3, 31« A. & O.
10,000.000
3, 319 A. & O.
5,196,000 4 ,5 ,6 * 7 M. * N.
20,000
6
O.—F.
Q.—K.
3,066,071
6
674,300
5 &6
Q .-F .
2,083,200
6
Q .-F .
1,766,600
6
Q .-F .
75,000
7
M. & N.
7,977.515 5 , 6 * 7 M. & N.
701,419
5*6
M. & N.
820,000
6 g. M. & N.
700,000 6 * 7 M. & N.
4,799,000 5 , 6 * 7 M. & N.
8,885,500
9 g. J. & J.
4,252,500
6 g. J. & j .
1,000,000
6 g. J. & j .
862,000
6 g. J. & J.
6,900,000
5 g. M. & N.
1,564,000
6 g. M. & N.
2,455,000 6 * 7
M. & N.
1,680,200
7
J. & D.
6,324,700
7
J. & D.
1,858,349
5*6
M. A N.
941,135
4*5
M. & N.
2,800,000
4
M. & N.
180,000
3
M. & N.
400,000
3
M. & N.
11,053,000 3 to 7 M. & N.
25,000
3
M. & N.
521,953
6
M. & N.
296,000 6 * 7
M. & N.
958,000 4 ,5 & 6 M. & N.
499,500 3 ,4 & 5 M. & N.
1,500,000
6
M & N.
.
500,00C
6
M A N.
.
1,921,900
5
Q .-F .
1,166,666 4 * 5
V & N.
I.
300,000
7
V & N.
I.
200,000
6
V & N.
i.
1,716,000 4 ,5 ,6 * 7 V & N.
I.
60,000
V & N.
I.
6
30,000
6
V A N.
I.
636,000
d. A N.
6
802,845
3
d. & N.
606,900
6
d. & N.
2,510,400
6
1 & N.
d.
745,800
7
d. & N.
376,600
7
Id. & N.
3,000,000
7
3 & N.
d.
398,000
5*6
IJ. & N.
475,000
6*7
1 & N.
d.
700,000
7
ÏVarious

Where payable and by
Whom.

City Treasury,
do
do
do
do
do
City Treasurer,
do
do
New Orleans,
do
do
do
do
do
do
do
do
do
City Treasury.

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«3
© C
O

Is

fi
J

tog
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i

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W

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es
O ta
«b
"fe â
3-a
5 ,0

s?»
fl
©H
_
Ü'g
>>§
4 ».
S3

So
?
o. S

1887-1900
1892-97-99-1904
1888
1887-92
1901-1903
1894-1903
Oot. 1. ’91*1901
July 2 , 1887-’97
1895 to 1904
1892 to 1934
1892 to 1923
Jan., 1893
1894 to 1923
1894 & 1922
1895 & 1922
1897 to 1923
When drawn.
1899 to 1923
1892 to 1923
1887 to 1914
Bk. July 1,1905 t o ’ 14
r 1887 to 1888
1887 to 1888
Aug. 15. ’94,1904
Nov. 1,1887, t o ’90
1887,1903 & 1910
Aug. 1,1900
Feb. 1,1890
1891, ’99 & 1904
Oot. 1,1933
Oot. I, 1904 * ’ 5
Nov. 1,1900-1906
Aug. 1,1907
Nov. 1,1887
July 1, 1898
Aug. 1,1887
June 1,1895
Aug. 1,1888
Nov. 1,1889 & ’ 92
1900 A 1926
Nov. 1,1896
Aug. 1,1889
1901-1904
July 1,1901
July 1.1901
July 1,1901
Jan. 1.1902
Nov. 1,1896
Nov. 1,1928
Nov. 1,1894
Deo. 1,1896
Dec. 1,1896
M a yl, 1 9 1 6 ,* ’26
Nov. 1 ,’89,’97,’99
Aug., 1894
Nov. 1,1910
Nov. 1, 1906 & 07
Nov. 1,1901-1915
Nov. 1,1905
Nov. 1,1899
May 1,1894 & ’97
May 1,1903
Nov. 1,1891
Nov. 1,1905
May 1,1926
May 1,1926
May 1,1928
Nov. 1,1890
Nov. 1.1891
Nov. 1 , 1887-’98
Nov. 1 , 1887-’88
Dec. 1,1891
Nov. 1,1891
Aug. 15.1894 •
Nov. 1,1888
l8 8 7 -’90
Nov. 1,1895-’97
Nov. 1,1891
Nov. 1 ,1890
Nov. 1,1890
Nov. 1,1902
1887 to 2147

1




. .

.

. .

. . .

« 9«w?71
1 e n u .—Assessed valuation or all property in 1886 wa<
N e w to
Jan. 1, ’87, $237.978. In 1884
w i^ L -2 .0’ S r?te>1*2 p. c. Population, 43,350 in ’80; 25,865 i n ’70. valuation n » B la ss.—Sinking funds, 40. Valuation in 1885 $23,999.
$27,814,561; tax rate, $14
the
in the first line in the table are payable out or 929! tax rate, $14 per $1,000. Valuation iu 1886, $31,016.930; tax
nnhiti S i T d ? f 1864, which amounted Deo. 31,1836, to $550,471: rate, $14 40. Population 19,759 in 1885; 16,994 in ’80; 12,825 in ’70.
Eond«
2?1ib0nd£
* pubUo school fund, $488,265: Clinton Hill
The total debt of New York, January 1,1837, was
^
fuud $263,560. The total amount in the sinking funds
$125,982,736; the amount of
UabihtVnV Jn!6’i7 a8^ ’ 874’? 74 The Mueduot bonds are not a direct ing statement shows the detailssinking funds, $41,205,470. The followof funded debt and the amount in the
assesi^ nt
o f S ^ ark.- . Real and Personal property have been
assessed »t about two-thirds of true value as follows: 1884, real estate, city sinking fund at the dates named:
$ 7 4 1 8 0 ® Personal, $18,524,775; tax rate, $2 03; 1885, real estate
Description.
Jan. 1, 1885.
Jan. 1,1886.
Jan. 1,18871
$125,475,240
tax rate*
93- Population in Total funded debt......... $126,371,138
$125,982,736
iv ™
136’5°8 in 1880, and 155,000 in 1885.
Sinking fund................. 34,823,735
36,113,814
41.205,470
is m »7.« ^ d > m a * * * -p °Pulati°ii, 35,000 in 1886; 21,320 in
,
Net funded debt....... $92,047,403
$15 41 «Afi^Q r^d valu.atlons in I8s6w ere $16,778,900 real estate and
$89,361,426
$34,777,26 6
Personalty; tax rate, $16 per $1,000.
2,358,825
Revenue bonds...............
3,670,525
5,618,368
1885, Ihow^i, fi,I,rrak V1 J "TA dmmcial statement made for April 1,
ii*
Total net debt.......... $94,406,228
$93,031,951
$90,395,634
sional monertv «u o^oa,bin rf al estate assessed at $4,118,300, andper1,1886 was^i^A^non50! 1« raS t 3'£?A The to*»1 funded debt April
e’
Tbc population of New York, by the U. S. Census, in 1870 was 942.292.
iv2— M 8 ^ l'562,000; sinking fund. $90,917.
and 1,206,299 in ’80. Jan. 1, ’65, and since Jan.,’ 72, the valuation, rate
special loaif
non £,V7,B
fT nds’ $134,784. The city made a or taxation, and net funded debt at end of year have been as follows:
u
T
$225,W of its t
>o
N? w H, v® * °e rb y RR., and guaranteed
>
a n
Real
Personal
Tax p. $1,000
Net Debt,
Assessed valuaCn (» w « S d8' Roptda. in 1870,50,840; in 1880,62,882. Years.
Estate.
Estate.
Stare. City.
Deo. 31*
Y e ^ Rfto fp a?„lab0u4®2, P- 0*; of true value), tax rate, &c., have been:
1865.......... $427,360,884 $181,423,471 34 96 $24 94
$35,973,597
iS J S S i
T i 5 ’& 8kgF48-i “’- 1872......... 797,148,665 306,949,422 5 20 23 81
S
95,467,154
1874t.. . . 881,547,995
272,481,181
6 65 21 35
114,979,970
1886:::* *3500 ,000
00<>
11 mills.
819.000
883,643,545
217,300,154
7 27 22 13
.
duo
17,500,000
11 “ $*•
799,000 »114:6*78 1875
134,784
116,773,721
1876
892,428,165
6 51 21 49
218,626,178
119,811,310
895,063,933
June, 30?1886n ,In ^un«
® in the above table is as outstanding 1877
iQ
206,028,160
3 78 22 72
117,700,742
cent 40 v e ^ hnniifl
j laT wa8 passed to issue new 6 ver
1878 ......... 900,855,700
197,532,075
3 56 21 94
113,418,403
bonds run till io i^ hnt1
b°!id8 ot^ r
Premiums; the extended 1879
918,134,330
175,934,955
3 43 22 37
109,425,414
issued for o l » r ^ r but are. redeemable after 1895. Certificates were 1880
942,571,690
201,194,037
3 12 22 13
106,066,240
years the rerttflcatesare*nivahiia« f 1# l ? 83’ a^ though made for ten 1881 ......... 976,735.199
209,212,899
3 6 0 22 60
102,618,301
Property, real andoor/on
o P ^ o u . T h e assessed valuation of 1882
1,035,203,816
198,272,582
'—■22 50— • 100,388,483
1884, S ii a f a
personal, for 1883 was $103,091,103; tax rate $2; in 1883 ..........1,079,130,669
197,546,495
22 90
95,529,909
th 1886, $ 1 ^ 7 0 5 8 5 3 ^ ^
« 2-nl8^’ ^t23,929,268; tax rate $2*545
a
1884
1,119,761,597
218,536,746
22 50
94,406,228
a bond premium d ilw i«
«$2 ° 2* A scheme for settling the debt by 1885
1.168,443,137
202.673,866
24 00
93,031.951
January 31 April 15
2nd drawings take place 1886......... 1,203,941,065
217,027,221
22 90
90,395,634
216,090.
Apru
July 31 and October 15. Population |in 1880, 1887..........1,257,275,903
* Less sinking fund.
t Annexed towns included.

1 »

INVESTORS’

SUPPLEMENT.

[V ol . X L IV ,

Subscribers w ill confer a great favor by g lrin g Im m ediate notice o f any error discovered In these Tables.
INTEREST.
Principal—When
Amount —
8izeor
Date of
DESCRIPTION.
Due.
Where Payable and by
mtstanding. Rate.
par
Bonds.
Whom.
Value.
For explanations see notes on first page of tables.
1894 to 1900
Norfolk and Baltimore,
$833,593
$100
Norfolk, 7a.—Coupon bonds................................ 1870-’74
1911,1914
do
do
350,000
1881
Coupon bonds o f 1881 (exempt)................ .
Apr., ’92, July ,’93
do
do
290,800
io o
Trust and paving, coup........ -........................... 1872-’73
1913, 1914,1916
310,000
Coupon oonds................................ -•.........
New York and Norfolk. 190P.1914A1915
640,000
100
1871
Coupon bds., water (a mort. on water works)..
April 1.1907
Norwich,
160,000
1,000
1877
Norwich, Oonn.—City b o n d s . ..
1898,1908 & 1910
do
300,000 E
Water lo a n ($50,000 1890, $250,000,1898)... ’68, ’78, ’80 1,000
Jan. 1,1905
do
164,000
1,000
1875
April 1,1908
Court House........................................................
do
50,000
1,000
1878
Sinking fund bonds.............................................
1913
125,000
1883
Funding 10-30S................ ..................................
1887-1904
City Hall, by Treasurer,
58,000
500
Paterson, N. J.—School bonds........ ..................... 1859-’73
1887 to 1900
do
do
80.000
500
Funded debt bonds............ -----------•••••; - - • 1862-’ 71
1887-1902
do
do
403,500
500
Sewer b’ds ($145,000are M. & S. &$90,500 5s). 1869-’82
1887 to 1900
do
do
306,500
500
1864-’65
War bounty bonds......................................
June, 1887
do
do
100,000
100 Ao.
1877
Funding bonds, “ A ” . . . . . . . . . . ..................
1901-1906
do
do
210,000
500
1877-’ 84
Renewal bonds,* ‘ B” and “ C ..................
Philadelphia, by Treasurer, 1887 to 1906
2,217,220
50 Ac.
Philadelphia-Consolidated city lo a n .....
do
do
564,500
50 Ac.
1855
1887 to 1903
do
do
6,401,800
1855 t o ’71 50 Ac.
do for water works........................
do
do
3,836,000
1859 to ’70 50 Ac.
do for bridges................- -- - ...........
do
do
8,403,200
1868 t o ’70 50 Ac.
1887 to 1905
do for park and Centennial..........
do
do
1862 to 65 50 Ac. 11,706,500
do for war and bounty purposes.
do
do
1860 to ’70 50 Ac. 16,241,100
_
1899 to 1905
do municipal, school, sewer, & c..
do
do
3,500,500
50 Ac.
Guaranteed debt, gas lo a n s .......—
1887 to 1904
do
do
6,498,800
25 Ac.
1879
Four per cent loan (“ H” to “ Y ) . . . .
1887 to 1898
N. Y., Mercantile Nat Bk.
81,500
Peoria. Ills.—School loan........................
Mar. 1 , 1902A’03
do
do
42,000
....
1888-’89-1901
War loan................................................
do
do
450,000 5
Water loan........ — - ............................
July 1, 1888
New York.
100,000
Peoria & Rock Island Railroad..........
1893 to ’98
Phila., Townsend, W. & Co.
4,282,500
1868 t o ’74 100 Ac.
1908
do
do
300,000
25 Ao.
1878
1886 to 1912
Water loan, reg— .............
Pittsburg and New York.
1,281,000
1845 t o ’72 500 Ac.
Funded debt and other municipal bonds
1913
New York, B’k of America.
2,176,300
100 Ao.
1863
Compromise railroad bonds (coup, and reg.)..
1912-1913
Pittsb’rgand Philadelphia.
1,480,000
100 Ao
1882-’83
Deo. 1,1915
Pittsburg, Treasurer.
3,747,000
100 Ao.
1885
Improv. bonds coup.or reg.( Act or May »,
Boston, Blackstone N. B’k. Nov., 1887,’88
787,000
. ’68,’69,’70 1,000
Portland, Me.—Loan to Atl. & St. Lawrence
July, 1887
do
do
627,500
. 1867 to ’69 500 Ao.
Loan to Portland A Rochester Railroad,
July 1, 1897
do
do
416,000
1872
500 Ac.
Sept. 1,1907
do
do
do
do
do
1,200,000
1,000
1872
do Portland & Ogdensburg..............
1887 to 1897
Boston and Portland,
837,000
. 1859-79 500 Ac.
Municipal—proper.....................................
June 1,1887
do
325,000
1,000
1867
Building loan bonds................ . — ----Jan., 1893
Providence.
300,000
lOOOAo.
9
1863
July, 1900
Boston, Prov. and London.
2,028,000
lOOOAo.
1872
Water loan bonds, gold, cou pon .....
July, 1900
N. Y., N. City Bank, A Prov.
1,972,000
lOOOAo.
1874
do
do
registered.,
July 1,1906
do
do
1,500,000
lOOOAo.
1876
do
do
do
Sept. 1,1916
N. Y., Bost. or London.
483,000
1,000
1836
do
do
gold coupon.
July 1,1895
London, Morton, Rose A Co
1,397.250
£100
g
1875
June 1,1899
Providence,
600,000
lOOOAo.
1879
do
loan of 1879......................
July 1, ’99 A 1900
do
596,000
L arge.
1879
Public improvement loan, registered. . . . . . . .
1892
do
500,000
1,000
1872
Prov. & Springfield RR. bonds, guaranteed.
1887-9
Boston and Providence
45,438
New High School Building certificates........ . 1877 A ’79 Various
.A J., 1887-1914
Richmond, Treasurer,
2,641,158
)
1904-1911
do
do
1,181,200
Bonds, reg. and coup. ($213,500 are ooup.)..
July, 1914-’20
do
do
1,178,000
New fives, 10-34 years, registered................
1920
274,375
1887 to 1903
N. Y., Union Trust Co.
J. A J.
140,000
1,000
1872
Boeh^Ur,’N.T'.—'To Genesee Vaiiey Railroad.
Feb. 1,1893
F. A A, New York and Rochester,
750,000
To Roch. & State L. and R. N. A P. Railroadi 1. 1872 t o ’74 lOOOAo.
1887 to 1902
do
do
Various
667,000
For various city improvements. . . . . . . . . . . . . . . 1872 to ’75 Various
Jan. 1,1903
N. Y., Union Trust Co.
J. & J.
3,182,000
.. 1873 t o ’7£ lOOOAo
Water works loan, ooupon and registered...
Jan. 1, 1905
do
do
J. A J.
410,000
1,000
1875
Aug. 1,1912
Funding loan...................................................
do
do
F. A A.
100,000
5,000
1882
1887 to 1911
Consol loan........................... . ........................
City Treasury,
8emi-an
615,150
50 Ac
Rockland, Me.—Municipal bonds.......... . —
1887 te 1899
do
J. A J.
53,300
100 Ao
1869
Railroad loan ($20,000 payable yearly)....
1891
do
F A A.
59,500
100 Ac
1871
1902
do
...................................................
do
M. & 8.
54,100
100 Ao
1872
On call.
do
.......- .................. .......................
do
105,852
Notes and certificates of deposits . . . . . . . . . . .
1887 t o ’91
Various N. Y., Nat. Bank Republio
931,000
8t. Lout»—Renewal and floating debt bonds..... 1867 t o ’7] Various
1887 to 1906
do
do
Various
645,000
!.. 1840 t o ’68 Various
1887
do
do
Various
10,000
Various
1857
Street improvement bonds.......................
Aug., 1897
do
do
F. A A.
340,000
1,000
1868
Tower Grove Park bonds (gold). . . . . . . .
1887 t o ’95
do
do
Various
1,108,000
1,000
.. Various
Sewer bonds ($330,000 are gold bonds).
1887-88
do
do
Various
359,000
.. 1866 to ’68 Various
Harbor and wharf bonds.........................
J. & D. New York and St. Louis. June, 1887, A 90
3.758,000
.. 1867 t o ’7( 1,000
April 1,1892
New water work bonds (gold)..................
A. A O. N. Y., Nat. B’k Commerce,
1.250,000
1,000
1872
do
do
do .............
July l , 1894
do
do
M. A N.
800,000
1874
Refunding water pipe, special tax, gold.
1894 and 1895
New York or London,
M. A N.
955,000
1,000
.. 1874-75
1893 to 1899
Floating debt bonds (gold sterling).........
do
do
Various
3.086,000
1,000
.. 1873-79
Renewed purposes, gold or sterling.. . . . .
1895
do
do
M. & N
150,000
1,000
1875
Jan. A June, 1900
Real estate, Ac., bonds, gold, $ and
.
do
do
Various
1,024,000
1,000
0)
1880
1902 to 1905
do
do
Various
913,000
.. 1882 t o ’8E 1,00C
Renewal bonds, gold.......................
J. A D, N. Y., Nat. B’k Commeroe. Deo. 10,1892
461.000
500
1872
June 1,1905
Bridge approaohbonds (g old )......
J. A D, New York and London.
965.000
1,000
$
1885
Bonds for St. L. Gas Light Co., Judg
July 1,1887
St, Louis County bonds assumedJ. A J. N. Y., Nat. Bk. Commeroe
100,000
1,000
1867
insane Asylum.............................
valuations of property for 1887 are: Full city property
135; suburban property, $40,203,885; farm property, $18,
J t
i T p ^ n t of ^ assess«!’value“ of >
^ estate, and this 10 888,392.' Tax rate, $-----. Population, 1870, 674,022, against 847,per cent was construed by the Court of Common Plea*
to include the bonds in the sinking fund as a part of the debt. See V. 41, 170 in 1880.
P eoria, IU .—Total debt, $673,500 in 1886. Population, 29,259 i*
p, 688. (V. 39, p. 49,727; V. 41, p. 51,69, 242, 688 ; V. 42, p. 070, /oó ,
1880; 22,849 in 1870; in 1886 (estimated), 45,000.
N o rib Hiil Vat—Th<?assessed valuations and tax rate per $ *$ 0 0 are:
P ittsb u rg.—The assessed valuation in 1884 was:
Year«
Real Estate.
Personalty. Tax Rate.
$20 !105,404,72o; personal, only $1,838,258; tax rate, 1884. 16
.
i boo*
$9.590.431
$1,363,403
20 ¡1. Valuation of real estate in 1885, $108,530,608 ; person^, $3,
9,770,197
1,722,492
i g l ò .............................
20 J00; tax rate, 13 mills. Total valuation in 1886 about $13^000,000,
,| | 2 ..........................
10,086,898
1,494,483
18 tax rate 14 mills. Population, 156,389 in 1880; 86.076 in 1870, and
, oqk .......................
12.307,131
1,899,550
18 May, 1884 festimated), 180,000. (V. 42, p. 23.)
........................ ” . . . ......... 11,963,450
1,739,630
—Population by Ù. S. Census in 1870, 19,229 ; ^ *880, 21,966.
P o rtla n d , M e .—
The sinking fund and available assets March 31,
N orw ich . C o n n .—The assessed valuations, tax rate, Ao., are.
3lTl3;
’
Real
Personal
Rate of 1886, were $*62,986. The city is protected1880, 33,810,1870,3 ,
A St. Lawrence Railroad. Population in
Years
Estate.
Property.
Tax.
1886 (est.), 40,000. The assessed valuations, tax rate, Ac., havejuwu.
l i s o ! ; ............................... $7,438.097
$2,976,028
8 mills.
Sinking
Personal Rate of Tax Total
Real
1881
. . . . 7,382,834
2,872,566
10
Debt- Funds, AcProperty. per$l,000.
Years.
Estate.
1882
........... '........... 7,362,364
2,762,931
10
“
$5*1,869
$12,^54,455 $2150 $4,545,500
188283 .. $20,288,300
i l i o ............................. .
71392,767
2,658,058
9
133,846
12,598,720 20 00
4,371,000
8 4 .. 20,431,300
—Sinking fund, May, *1886, $>57,581 ; population, 21,145 in 1880; 16,- 1883106,406
12,014,435 20 50
4,286,000
1884- 8 5 .. 20,794,300
162,986
980-00- 21,208,000
21 0 0
4,285,500
P a t e r s o n , N. J . —Finances are apparently in a sound condition. 1885- 86.. LsJSWWW 11,759,525
* These do not include the sinking funds for railroad loans.
The assessed valuations, tax rate per $1,000, Ao., have been:
Debt.
Years.
Real Estate.
Personalty. Tax Rate,
P r o v id e n c e , » . I . —The principal debt of ProvMenoehasbeeu se­
$1,217,500
1883V ..................$18,506.048
$3,856,635
2*28
1.168.500 ated since ’72 for water works, sewerage, the City Hall and Brook
1884 ................... 18,521,342
3,876,075
2*50
1.168.500 improvement. The sinking fund for bonds due in 1893 is
1885 ................... 19,205,501
3,816,500
2*50
1899-1900, $141,178; 1900-06-16,^water loan,
1,165,000 1895-99, $719,564; 1870, 68,904; 1885, 118,070. The laws of $4Wr
1886
......... 19,549,111
3,891,115
---275. Population,
^
—PoT>ulfttlon 31*031 Ip 1880* 33*578 in 1870*
Island now limit the debts of towns to 3 per cent of their ass
. P h ila d e lp h ia .—Jan. 1, '87, the funded debt was $59,369,620. In the valuation.
fo ’ iowirv table the assessed value of real estate Is near ite oash value :
Assessed valuations, Ac., have been :
Jeai ”
Real Estate.
Personalty. Tax Rate.
Real
Personal Tax per
Total
Funds,Ao
18ha
............$562,687,555
$3,795,700
$18 50 Years.
Estate.
Property.
$1,000.
Debt.
$1.,359,H2
I ® * * " .......................... . " .
573,728,105
9,884,578
18 50 1880..
.. $88,012,100 $27,908,900
$13 50 $10,202,688 397,558
1
iSSo........................... " . . . 587,749,823
10,035,600
18 50 1881..
14 00 10^100,599
..
87,788,00028,413,800
A
i;597!280
!**«■■*....................
: : : e o i 001,971
10,307,644
i § 50 1882..
14 50 10,077,099
..
88,987,90030,208,300
...................................... 619 059,987
10,619,325
18 50




CITY SECURITIES.

M a r c h , 1887.1

13

S n b scrlb ers w ill confer a great favor by giving im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
¿'or explanations see notes on first page of tables.

Date of
Bonds.

Size or Amount
par outstanding.
Value

St. Louis, Mo.—(Continued)—
St. Louis County bonds—County Jail...............
1868
$1,000
General purposes, gold...................................
1872
1.000
Park bonds, coupon, gold..............................
1875
1,000
Gen. A ren’albds. (all g. but $100,000 7s) .. 1869 t o ’76 1,000
St. Joseph; M o—Funding bonds..........................
Funding bonds...................................................
1883
81. Pam, Minn.—Bonds......................................... 1882-85
1,000
Bonds...................................... ........................... 1867 t o ’85 1.000
do ................................................................... 1868 t o ’81 500&C.
do ................................................................... 1862 t o ’79 Various
do ......................................................... ........ 1860 to ’79 Various
City Hall, Park and Fire Department.............
1886
1,000
Waterworks coups, (aots Feb.,'81 A Jan., ’83). 1882-4-5 l , 000Ac
Salem. Mass.—City debt........................................ Various. 100 Ac.
Water loan........................................................... 1868-9
100 Ac.
do
...........................................................
1878
1,000
Ban Francisco— Bonds of 1858, coupon (gold)..
1858
500 Ac.
Central Pacific Railroad, coupon (gold)........
1864
500 Ac.
Western Pacific Railroad,
do
do ........
1865
500 Ac.
Judgment bonds,
do
do .........
1867
500 Ac.
School bonds........................................................
1870
500 Ac.
School bonds........................................................
1874
500 Ac.
Park improvement bonds................................ 1872 t o ’75 500 Ac.
Hospital bonds.................................................... 1871 to ’73 500 < c.
&
House of Correction bonds................................
1874
500 Ac.
City Hall construction...................................... 1875 t o ’76 500 Ac.
Montgomery Ave (special tax)......................... 1873-74
Dupont St. (special) (Act March 4,1876).......
1876
Savannah, Oa.—New compromise bonds............
1879
100 Ac.
Somerville, Mass.—City debt................................
Various.
Water loan..........................................................
Large.
Springfield, Mass.—City notes........ ...................
Large.
CityDonas...........................................................
1,000
Water loan ($200,000 are 6 per cents)............
1,000
Railroad loan......................................................
1,000
Toledo. 0.—General fund city bonds, coup........ Various.
Toledo & Woodville Railroad, coupon..............
1870
Water works ($3,000 only 6s)........................... ’73/74A79
Short bonds, chargeable on special assessm’ts. Various.
Bonds, payable after 1893................................
1883
Worcester, M.—City, ($521,500 o., $1,521,900 r.) 1861 to ’83 500 Ac.
Sewer debt (all registered)................................. 1870 t o ’86 500 Ac.
Water debt, reg................ ; ....................... ........ 1870 to ’85 500 Ac.

INTEREST.
Rate.

When
Pay’ble

Where Payable, and by
Whom.

Principal—When
Due.

$500,000
7
M. A 8 N. Y., Nat. B’k Commerce,
Sept. 1,1888
600,000
6 g. J. & D
do
do
June, 1892
1.900.000
do
do
6 g. A. A O
April 1,1905
2.225.000 7 & 6 g. Various
do
do
1889-1896
880,900
4 f
N. Y., Amer. Exoh. Nat. Bk.
Aug. 1. 1901
902.000
6
F. A* A N. Y., Nat. Bk. Commerce.
1903
71.000
4
Various N. Y. Am. Exch’ge Nat. Bk.
1907 to 1913
906,002
5
Various
do
do
1887 to 1915
433.000
6
Various
do
do
1888 to 1906
399,551
7
Various
do
do
1887 to 1903
307,315
8
Various
do
do
1893 to 1904
175.000
4*9
do
do
1916
1.500.000
4 A 5 Various
do
do
1912 to 1915
561.500 4, 5 & 6 Various
City Treasury,
1887 to 1895
375.000
6
A. A O.
do
do
Api. 1,1887-1898
398.500
5
J. A J.
do
do
July 1,1904 t
99.000
6 g. J. A J. San F.&N.Y„ Laidlaw & Co
Jan. 1, 1888
174.000
do
do
7 g - J. A J.
July 1, 1894
100.000
M. A N.
do
do
May 1, 1895
l g* A. A O.
246.000
do
do
Oct, 1, 1887
Z g* J. A D.
285.000
do
do
June1,1890
1 g’ J & J.
200.000
de
do
6 gJuly 1, 1894
475.000
do
do
6 g- iJ. A J.
1897 A 1904
210.000
do
do
6 g- M. A N.
Nov. 1, 1891
150.000
IT A J.
.
do
do
July 1,1894
407.500
e f:
do
do
1899
1.579.000
919.000
J. A J. San.F. A N.Y .,Laidlaw & Co.
1896
3,397,500
!* :
Q—F. N. Y., Eugene Kelly & Co.
Feb. 1, 1909
1.170.000 4,5,5*2,6 Various Boston, Nat. Security Bank
1887 to 1896
335.000 4, 5, 5*2 Various
do
do
1887 t o 1906
48.000
4*«
Various
Salem.
1887 to 1889
63.000
6
Various Boston, First National B’k.
1887-1890
1.200.000 6 & 7 A. A O.
do
do
Api. l , ’94 ,tol9 0 5
140.000
7
A. & O.
do
do
1887 to 1893
1,236,151 4*2 to 8 Various N. Y., Imp. A Trad. N. Bk.
1887 to 1913
432.000
7-3 M. A N.
do
do
May, 1900
1 ,000,000
6 & 8 Various
do
do
1893 to 1899
150.000 7 & 8 Various
do
do
1887 to 1888
360.000
5
A. A O.
do
do
Oot„ 1913
2,043,400 4, 5 & 6 Various C.Treas.&Bost. Mohts.’ Bk.
1887 to 1905
785.000 4, 4*2,5 Various
do
do
1899 to 1905
678,300 3*2, 4.5,6 Various
do
do
1887 to 1915
Real
Personal
Tax per
Total Assets in Sink. . S a le m , M a s s .—In addition to the debt as above given there were
Estate.
Property.
Years.
$1,000.
Debt.
Funds, Ac. in Dec^ 188«, $96,936 trust funds, payable on demand. The «inking
1883... . $90,143,400 $31,722,000 $14 50 $9,941,188 $1,681,400 funds Feb., 1887, were $431,470, mostly consisting of City of Salem
1884... . 91,642,100
30,854,400
14 50
9,890,638
1,843,785
27.563 in 1880; 24,117 in 1870. Tax valuation,
31,314,600
1885... . 92,887,400
14 50
9,568,188
1,438,328 1882, $25,528,242; tax rate, $15 50. In 1883 valuation, $25,614,115;
1886... . 97.975,900
32,281,500
14 00
9,685,817
1,701,985 tax rate, $16. In 1884 valuation, $25,360,772; rate of tax, $17 50. In
£®al estato valuation, $12,831,300; personal, Ac., $12,234.830:
R ic h m o n d » V a .—In 1886. real estate valuation, $33,517,807?
personal, $14,675,848; tax rate, $1 40. In 1885, real estate, $32,347,- total, $25,066,130; tax rate, $16 50. In 1886 valuation of real estate,
803; personal, $13,751,666; tax rate, $1 40. Population, 63,600 in 1880; $13,283,500, personal, $12,937,024; total, $26,220,523; tax rate, $15 5o!
51,038 in 1870.
„S a n F ran
149,473, in 1870. The
R o c h e s te r .—Total funded debt, $5,249,000 March, 1885. The bonds Montgomery c is c o .—Population, 233,959 in 1880; speoial issues charge­
Avenue and Dupont Street bonds are
of Genesee Valley RR. loan, $148,000, are provided for by net receipts able only on the assessment of property benefitted, and suits were in
from a lease of said road to Erie Railway. Population, 89,366 in 1880; progress Ootober, ls84, to determine their legal status. sinking funds
62,386 in 1870; in 1882, estimated, 105,000. Assessed valuation (60 ri“ ¿ed annually amount to over $238,000, the amount on hand June 30,
per ct. of true value), rate of tax, Ac., have been:
¿»86, being $901,933. The assessments for four years and tax rate (per
Real
Personal
Tax per $1,000
$100) are given below. The following valuations are made by the city
Total
Years.
Estate.
Property.
in old Wards.
and county, the valuations by the State being different, but the tax rate
Debt.
1883..
.. $36,166,200 $1,817,200
27*65
$5,354,000 below includes that for State purposes:
1884..
.. 37.270,850
1,778,100
3222
Total
5.284.000
Realty.
Personalty.
Tax Rate.
1885..
.. 38,563,020
2,389,050
30*98
5.399.000 18818 2 ...............$155,834,879
$66.598,521
$180*«
^ H o c h la n d , M e .—Valuat’n of real and personal estate, 1885, about 18828 3 ............. 151,894,908
50,267,099
180%
$3,900,000; tax rate, $26 per $1,000; 1886 valuations, $3,788,780; tax 18838 4 ............. 158,723,269
62,272,534
169%
rate, $22 50 per $1,000. Population, 7,599 in 1881; 7,074 in 1870.
18848 5 ............. 164,495,888
59,013,672
157*«
St. J o s e p h , M o .—Population in 1880, 32,431; in 1870,19,565. A 1885- 8 6 ....................... 171,416,426
56,192,922
159%
compromise of the debt was made in new 4 per cent bonds, which are
S a v a n n a h . G a .-D efa u lt was made on interest Nov. 1,1876, Inconse­
given for the full principal and interest of old bonds. Aug. 31,1885
quence of yellow fever and non-oolleotion of taxes. The compromise
there were in addition to bonds given above $40,074 small issues and
gave new 5 per cent bonds for the face of old bonds; and for interest up
unpaid coupons.
t ioo S886?8® valuations and tax rate for three years were as below, to Feb. 1,1879, 58 per cent of the face value in similar bonds; also,
4
m 1885 valuations were the same as in 1884, no new valuations being there are $386,500 of fives issued in exchange for Atlantic A Gulf
made.
0 RR. bonds. Assessed value of real estate and tax rate each year
SSX6
1881» $10,500,000, $25; 1882, $10,650,000.
_
Real estate.
Personal.
Tax rate. $30; 1883,a5..f2Uow8: In $30; in 1884, $12,500,000, $30; in 1885,
$10,900,000,
............................... $7,586,650
1883
*02310
$3,678,193
$13,000,000, $21 25.
Population in 1870, 28,235, against 30,70$
1884
............................. 7,873,150
3.700.222
•022m
n 1880.
1885
............................. 7,873,150
3.700.222
—(V. 43, p. 50.)
S o m e r v ille , M a s * .—Total debt, Jan. 1, 1887, $1,525,000; sinking
fund, $581,052. Property valuation in 1882, $23,162,200;
01!?Qfl!S<oal*, - :p 2?512'tion by the United States census in 1870 was $23,812’900: In 1884, $24,331,100; in 1885, $25,907,700; in 1883.
in 1886,
850,518 in 1880. The city and county were merged
Except $140,000
bv law in 1877 and oity assumed the county bonds. A claim of the $26’003,200. Tax rate in 1885 and 1886, $lf> 40.
Company for gas furnished, amounting in all to 5s in $1,000 pieoes and $399,000 4s, all bonds are in $2,000 to $50,000
to March 31, 1882, was decided against pieces. Population 24,933 in 1880; 14,685 in 1870.
M o K
Jhe $548,000 renewal bonds, due 1900, are redeemS p r in g fie ld , M a s s .—Total funded debt, Jan., 1887, $1,451.000
$913,000, due 1902-1905, are redeemable 1892-1895.
cash assets, $149,734. The railroad debt falls due $20,000 each year
Assessed valuation of property and tax rate have been:
Population in 1885, 38,000; 1870, 26,703. Tax valuation and rates
Real Estate /—
Rate of tax per $1,000.—
.
have been:
and Personal
New
Old
Bonded
Personal
Years.
Tax rate
Property.
Limits.
Limits.
Debt.
Years.
Real Estate.
property.
1880 ....................... $160,750,440
per $1,000.
JU V
$5 00
$17 50
$22,507,000 1881 .
$23,795,920
$8,935,850
12 50
i | | i ...................... 167,336,600
5 00
17 50
22.417.000 1882 .
25,084,420
9,198,258
12 50
...................... 191,720.500
5 00
17 50
22.311.000 1883 ..
25.676.800
9.260,459
12 50
t i l * ...................... 191,522,490
5 00
17 50
22.232.000 1884 ..
26,201,150
8,792,666
14 00
i| | t ........................ 211,480,710
5 00
17 50
22.105.000 1885.
26.969.800
8,827,966
12 80
i f f * ...................... 207,526,000
5 00
17 50
22.016.000 1886.
27,638,760
9,143,442
12 80
1886........................ 214,427,690
5 00
17 50
22,942,000 —Valuation of real estate is about 67 per cent of true value.
—(V. 40, p. 764.)
T o le d o .—Total debt, Jan., 1886, was $3,238,137. Of this the debt
i n % « ? ? A M ?n n ; - PoPulatlon *u 1870 was 22,300; in 1880, 41,498;
payable by special assessments was $166.151 Taxable valuation o f
of l^ a h ie n rn n A ^ a “ ^ tax rate have been:
in taxameproperty and 6 of PoPJ^ation is 100,000. Assessed valuations £®al qoH L 18? 6,
Personal, $8,157,060; total valuation ,
f 29-930,300; tax rate, $2*80 per $100. Valuation, 1884, real estate,
Personal Rate of Tax
Total
Years.
’ Persooel. $8,646,190; total valuation, $30,021,470; tax
Real Estate. Property. per $1,000.
Debt.
rate, $2 22. Population, 50,137 in 1880; 31,584 in 1870.
J|Z|......................... $17,300,486 $5,491,026 $13 «
$1,356,444
i| Z " ........................ 17,300,766
5,942,503
15 “
1,519,310
W orcester, M ass.—Total funded debt, Jan. 1,1887, $3,506,700.
i| | g .......................... 30,000,000 10 , 000,000
21 «
1,959,910 Cash assets Dec. 1,1886, $1,296,883. including $860,846 in sinking fund
i l l ? .......................... 31,000,000 12, 000,000
24*50“
2,328,040 Population, 68,383 in 1885, 58,291 in 1880,41,105 in 1870. Tax valu­
i| | f........................ 47,000,000 14,263,565
16
3,027,140 ation in 1882, $45.504,512; tax rate, 1*74. In 1883. $48,570,335;
t ............................ 50)512)212 14,291,946
>
xy j
19 50
3,815,640 tax rate, 1*72. In 1884, $50,773,475; tax rate, 1*66. In 1885, $52,714,~~¥«uatton of real estate is about one-half of true value.
910; tax rate, 1*
80, In 1888, $51,566,389; tax rate, $1 80.




14

INVESTORS’ SUPPLEMENT.

[ V o l . XLIV,

Subscribers w ill co lifer a great favor by givin g Im m ediate notice of any error discovered In the«« Tables.
DESCRIPTION.
Miles Date
of
For explanation of column headings, &c., see notes of
Road. Bonds
on first page of tables.
Ala. N. 0. Texas A Pacific June.—1st debentures... 233 1882
1884
2d debentures...........................................................
Ala. Ot. Soulh’n.—1st mortgage, ooupon................... 290 1878
1886
Debentures, g o ld ......................................................
Albany A Susquehanna—Stock.................................. 209
142 1863
1st mortgage......................................................---Albany City loan (sinking fund, 1 per ct. yearly). 142 1865
Consol, mort. (guar. D. AH. endorsed on bonds).. 142 1876
A llegheny Valley—Stock............................................... 259
General mortgage (Riv. Div.)............. .
. . . . 132 1866
Bonds to State Pa. (endorsed) 2d mort., East ext. 110 1870
110 1871
1st mort., East’n Exten., guar, by Pa. R R ...........
Funding income bonds, with traffic guarantee.... 259 1874
27 1877
Amador Branchs- 1st mortgage.................................
Asheville A Spartanburg—1st mortgage...................
62 1878
Ashtabula A Pittsburg- 1st mortgage, coup, or reg..
254 1879
Atchison Ool. A Pacific—1st mort., guar.......... .
34 1879
Atchison Jewell Oo. A West.—1st M., guar. C.B.U. P
Atchison Topeka A Santa Fe—S tock ........................ . 2,445
470 1869
1st mortgage, gold, ($15 000 p. m .)....................
1870
Land grant mortgage, gold. ($7,500 p. m .) .........
1873
Consol, bonds, gold, ($7,500 p. m .) .......................
1880
Bonds, (secured by mort. bonds) $1,185,000......
1880
8. F. bonds for purchase of K. C. L. A S. K. stock
1880
Sinking fund bonds (secured by mort. bds.)........
___ 1881
1887
27 1872
Wichita A Southwest., 1st M.,gold j
66 1875
Kans. City Top. A W. 1st M., gold |
1875
do
do
income bds. 0nar «entai
282 1875
Pueblo A Ark. Valley, 1st M.,gold f »»ar.ientai.
282 1878
Pueb. A A. V., 1st (& 2d on 148 m.
64 1879
Kan. City Emporia A 8..1st mort. J
____________

INTEREST OR DIVIDENDS.
Size, or
Amount
When Where Payable, and by Stocks—Last
Par
Outstanding Rate per Payable
Whom.
Dividend.
Cent.
Value.
April 1, 1907
London.
A. A O.
6
£100 $7,500,000
June 1,1907
do
J. A D.
6
2,500,000
£100
1,679,000
6 g. J. A J. N.Y. »Farmers’ L. A T. Co Jan. I, 1908
$1,000
Aug. 15,1906
London.
6 g. F. A A.
670,000
£100
31« J. A J. N. Y., B’k of Commerce. Jan. 1, 1887
3,500,000
$100
July, 1888
J. A J. N.Y.,Del. A Hud.Can.Co
7
998,000
1,000
do
do
1895-’97
M. A N.
6
1,000,000
1,000
April 1, 1906
do
do
8,488,000 6 g A 7 A. A O.
1,000
2,166,500
50
7-30 J. Ä J. N. Y., Winslow, L. A Co. March 1,1896
4,000,000
1,000
Jan’ary Harrisburg, Treasury. 100,000 y’rly.
5
2,400,000
100,000
A. A O. Philadelphia or Londoti April 1,1910
7
1,000 10,000,000
A. A O. Pittsburg, Co.’s Office. Oct. 1, 1894
9.722,300
7
100 &c.
J. A J. N. Y., Cent. Pacific RR. Jan. 1, 1907
675.000
6
1,000
500.000
F. A A. Phil., Fid. I.T. A S.D.Co. Aug. 1, 1908
6‘
1,500,000
1JK)0
Q .-F . N.Y.,Un. Pao.RR.Offlce May 1, 1905
6
4,070,000
1,000
Q .-F . N.Y.,Un.Pac. RR office. May 1, 1905
6
542,000
1,000
Q .-F . Boston. V. Y. A Chic. Feb. 15,1387
1*2
100 64,893,250
7,041,000
500 &c.
7 g. J. A J. Boston, North Nat. Bk. July 1, 1899
Oct. 1, 190C
do
do
2,426,500
500 Ac.
7 g- A. A O.
April 1,1903
do
do
108,500
500 Ac.
7 g. A. A O.
A. A 0. Boston, Boston Nat. B’k. April 1, 1909
5
1,007,000
1,000
Sept. 1,1920
do
do
M. A S.
5
3,519,000
1,000
413 A. A 0. Bost. Safe Dep. ATr. Co. Oct. 1, 1920
1,000
4,687,000
Deo. 1, 1911
J. A D. Boston, Co.’s Office.
6
1,000 12.142,000
1937
5 g.
6,500,000
100 Ac.
412,000
1,000
7 g. J. A J. Boston, North Nat. Bk. July 1, 1902
854,000
7 g. J. A J. Boston, Everett N. Bk. July 1, 1905
1,000
Mar. 1, 1906
do
do
200,000
7 g. M. A S.
1,633,000
1,000
7 g. J. A J. Bost., N. Bk. of N. Am’a July 1, 1905
July 1, 1905
do
do
1,000
1,942,000
7 g. J. A J.
532,000
1,000
7 g. J. A J. Boston, North Nat. Bk. July 1. 1909

Atchison Colorado Ac P a c if ic .—Waterville, Kan., to Washington,
A lab am a N. O. T exas & Pacific J u nction (L im ited ).—(See
Map Oinn. N.O.AT.F.)—V\üñ is an English Co. controlling the Vicksburg Ran., 20 miles: Greenleaf, Kan., to Logan, Kan., 155 miles; Logan to
Lenora, Kan., 25 miles; Downs, Kan., to Ball City. Kan., 24 miles; Yuma,
A Meridian, 142 miles; Vicksburg Shreveport* Pacific, 189 miles; N.O.
c
* North Eastern, 195 miles; and Spanish Fort R’y, near Now Orleans, 13 Kan., to Warwick, 31 miles; total, 254 miles. The road forms an exten­
miles. It also controls the Cincinnati New Orleans & Texas Pacific sion of the Union Pacific Central Branch, by which the honds are guaran­
Railway Co. (lessee of the Cincinnati Southern Railway). The manage­ teed and the road Is controlled, and the whole system is virtually owned
ment of the company is the same as that of the Alabama Great by Union Pacific, but operated by Mo. Pao. Stock, $1,526.000, of which
Southern RR. Length of roads, 862 miles; add Ala. Gt. Southern RR., 29o U. P. and C. P. own $920,500. Rental is $254,370 per annum.
Atchison J ew ell Co. Ac W e st.—Jamestown, Kan., to Burr Oak,
miles; entire system. 1,157 miles. The preferred or “ A” shares are
«1 500.000, having a preference for 6 per cent dividends and cumu­ Kan., 34 miles. Under same auspices and control as Atchison Colorado
lative, and the deferred or “ B” shares £2,500,000; par value of all & Paciflo. Stock, $202,800, of which Union Pacific owns $105,000. Ren­
shares £10 each. The first debentures are redeemable any time at 115, tal is $33,875 ner annum.
on s ix ,months’ notice. Tlie company holds the foUowingsecurities, viz.:
Atchison T opek a Ac Santa F e .—I-Sec M a p .)—L in k o f R o a d .—
Cin N O. & Texas Pao. $1,532,000 stock; Vioksburg & Meridian, Main Line—
Atchison to Kans. State line, 471 miles. Owned by owner­
$245,000 1st mortgage. $105,000 2d mortgage, $416,500 3d mortgage, ship of stock, the Southern Kansas, 529 miles. Leased—Various branch
Sl.464,300 preferred stock and $363,000 common stock; of Vioksb. roads in So. Kansas 423 miles; Kan. State L. to S. Pueblo. Col., 149
Shrevep. & Pao. $3,692,000 1st mort., $1,931,000 incomes and $1,594,- miles; Pueblo to Rockvale, Col., 37 miles; La Junta to N. Mex. State
000 stock; of N. O. & North Eastern $4.900,000 1st mort. and $4,320^- Line, 96 miles; Colorado St. L. to San Marcial, N. M., 354 miles; Lamy
000 stock; N. O. Spanish Fort&L. RR. $300,000 1st mort. and $200,000 to Santa Fe, 18 miles; San Marcial to Doming, N. M.. 128 miles: Rincon
common stock. To obtain funds for further improvements it was to Texas line, 58 miles; coal and mineral roads, 60 miles; Las Vegas Hot
voted in Oct., 1885, that 6 per cent prior lien bonds ahead or the first Springs road, 6 miles; Texas line to El Paso, 20 miles; and Doming to
mortgages should be issued on the N. O. & Northeastern, Vicksburg & Silver City, N. M., 48 miles; total leased, 1,398 miles. Total operated
Meridian and the Vicksb. Shreveport & Pac. roads at $7,000 per mile, directly, 2,375 miles. The road owned jointly with the Union Pao., 103
amounting to $2,695,000 in all. ft was voted to issue £200,000 of Al. miles, and that owned jointly with St. L. & S. F , 45 miles, and the
N O. T. A P. J. 2d debenture bonds of same lien as the others. (V. 42, Sonora system, 350 miles, controlled—are not embraced in the miles
operated. The total mileage controlled is 2.821 miles. In Nov., 1885, the
p. 21, T2T.)
A lab am a Great Southern.—(See Map Oinn. N. O. A T-P-)—From road of California Southern was opened from San Diego, making a
Wauhatchie, Tenn., to Meridian, Miss.. 290 miles; leased, Wauhatchie through route to the Pacitto coast via the Atlantic & Paciflo RR. In
to Chattanooga, 5 miles total operated. 295 miles. The Alabama & April, 1886, the Gulf C »lo.’ado & Santa Fe road was absorbed.
Chattanooga RR. made default Jan. 1,1871, and road was sold under fore­
O r g a n iz a t io n , L e a se s , &c.—The A. T. & S. Fe. Co. was incorporated
closure Jan. 22,1877. Present company organized Nov. 30,1877, and is March 3,1863, and inoludes the Atchison & Topeka RR., incorporated
controlled by an English ooinpany of the same title. The lands were Feb. 11,1859. The land grant was received by Act of Kansas Feb. 9,
conveyed in full settlement to the holders of the $2,000.000 of Alabama 1864. The main line of 471 miles was opened Dec. 23, 1872. The
State bonds. These lands (about 550,000 acres) are held by trustees. whole system outside of the main line is nominally under different cor­
(V. 30, p. 117.) The debentures are made exchangeable for any mort­ porations, of whioh the ownership is vested in the A. T. &S. F., and the
gage bonds that may be created subsequent to the debentures. Capital roads also leased to that Co., and interest on the bonds usually paid as
stook—common, $7,830,000, and preferred 6 per■cent,$3,349,050. rental. The Southern Kansas and the Sonora systems are not leased,
Gross earnings in 1885, $1,076,188; net. $128,140. Gross in 1884, but are controlled by ownership of the stock. The A. T. & S. Fe
$1,165,102; net, $143,665. (V. 42, p. 7 2 7 ).
Co. has issued its own stook and bonds to purchase the stocks and bonds
A lban y Ac Susquehanna,—Road owned from Albany, N. Y., to of leased and auxiliary companies, and the balance sheet shows
Binghamton, N.Y., 142 miles; branches operated Duanesburg Junction, $51,270,225 so invested; besides $3,327,917 bonds owned, against which
N. Y., to Schenectady, 14 miles; Cobleskill, N. Y., to Cherry Valley, 21 Atohison Topeka & Santa Fe securities have not been issued. The fiscal
miles; operates Lackawanna & Susquehanna RR., 22 miles; East Gien- year ends Deo. 31. The election of directors is held in April.
In Aug., 1884, an agreement was made for the control of the Mojave
ville to Coons, 10 miles; total operated, 209 miles. Leased in perpetuity
from Feb.. 1870, to Delaware & Hudson Canal Co.; rental, 7 per cent Division of the Southern Pacific and a right for traffic over the Southern
on stock and interest on bonds. Additions and betterments oharged to Pacific to San Francisco. In 1886 the Atlantic & Pacific 1st mortgage
lessors, and cost made part of investment. The consol, mort. is for $10,- bond interest was reduced to 4 per cent and the bonds guaranteed pne000.000, of which $3.000,000 are 7 per cents, currency; the principal of half each, severally but not jointly, by the Atchison and San Francisco
the 6s. is also payable in “ lawful money,’ but the interesti n gold. Gross companies. See Atl. & Pac. and St. L . & San Fran, in this S u p p l e m e n t .
In April, 188’i, the G. C. & S. F. was purchased by the Atchison Com­
earnings in 1885-86, $2,841,409; net, $1,202,770; surplus to lessee after
pany by the exchange of G. C. & S. F. stock for Atcl ison stock, $8,000,all payments, $259,760. (V. 42, p. 549; V. 43, p. 580.)
000 in all, of which $4,560,000 was exchanged immediately and $3,440,Allegheny V a lley.—Owns from Pittsburg, to Oil City, Pa., 132 000 was deposited in trust, to be delivered to the G. C. & S. F. Jan. 1,
miles; branches—Red Bank, Pa., to Driftwood, 110 miles ; others, 17 1887, in exchange for its new stook to that amount to be issued on new
miles ; total operated, 259 miles. The oompany became embarrassed mileage. See official oircular, V, 42, p. 630.
in 1874 and compromised with its creditors. It still falls short
St o c k a n d B onds —The stook has been increased rapidly to present
of earning interest liabilities. Of the income bonds the Pennsylvaida
RR., Northern Central and Philadelphia & Erie hold $6,087,000, the figures for the acquisition of the auxiliary lines and by way of stock
interest on which was paid altogether in bond scrip. The coupons of dividends. Dividends have been—in 1879, 3 per cent; in 1880, 8 ^ ; m
guaranteed bonds held by the Pennsylvania Railroad for advanoes 1881,6 cash and 50 stock; in 1882 and in subsequent years 6 per cent has
amount to $5,232,710. In 1886 the charges for mortgage interest and been regularly paid. The range in prices of stock m Boston was—in
1881,
s in 1883, 78®86i4;
car trust payments were $1,115,604, income b o n d s » « ; deficit in net @80; 92® 1544i; in 1882. 787s®961 ; 79’ s®100; in 1887,in 1884, o9%
in 1885,
; in 1886,
to Mar. 19,
earnings, $432,384. In May, 1884, receivers were appointed at the
96 s8®9978<
instance of tlxe Penn, and other railroads as plaintiffs.
Such bonds as are held in the company’s treasury, or leased line fiords
Annual report in V. 42, p. 603. Earnings for four years were as fol
lows: In 1883, gross, $2,255,942; net, $886,772. In 1884. gross, $2,113, held as collateral for any of its own bonds given above, are not included
883; net,$812,478. In 1885, gross, $1,780,133; net, $671,134; interest in the above amounts outstanding. The land grant bonds receive the
in payment of interest and principal.
$lfl24,653; defioit, 453,519. In 1886, gross, $1,812,729; net, $681, proceeds of land sales Oct., 1920, have the 6 per cent mortgage bonds of
The 4ifl per oents of
230; interest, $1,115,604; deficit, $432,384. (V. 42, p. 6 0 3 ; V. 43, p the Rio Gr. Mex. & Pac. and the Rio Gr. & El Paso roads as security, the
546; V. 44, p. 21.)
ainiring fund being 1*3 per cent per annum, rising to 3 ^ by 1910.
A m ador B ra n c h .—Galt, Cal., to lone, Cal., 27 miles. Leased till
The 6 per cent bonds due Deo. 1,1911, have as seouiity 1st or 2d more,
Nov. 1,1890, to Cent. Pacific; rental $3,500 per month. 8tock, $675, bonds of a number of the proprietary or controlled railroads, deposited
000. Earnings in 1885, $31,243 gross and $12,705 net. Leland Stan in trust as collateral; they are redeemable at 105 by the sinking fund,
ford, President, San Francisco.
whioh is 1 per cent per annum for 10 years and 2 per cent thereafter.
The 5 per cent bonds, due April 1,1909, are secured by the N. Mex.
Asheville & Spartanburg.—From Spartanburg, S. C., to Ashe
ville, N. C., 71 miles, of which 50 miles, to Hendersonville, in operation. & So. Pac. 1st mort. 7s.
, ,
^ .
■V,
Interest on the Sonora RR. in Mex. (262 miles) 1st M. bonds is guaran­
Formerly Spartanburg & Asheville; sold in foreclosure April, 1881, and
reorganized. Stock $1,050,000. In 1883 the moitgage for $500,000 teed ; those bonds are at $20,000 per mile, of which $5,000 per mUe are
was made to bmld the 18 miles to Asheville; in 1885 a new mortgage owned by the A. T. & S. F. Co.
■ The Cal forni* Southern 1st mortg. bonds are gua anteed (by endorse­
for $500,000 was authorized. Controlled by Richm’d & Danville. Gross
earnings in 1884-5 $28,572; defioit, $4,611. Gross earnings in 1883-4 ment on the bonds) as per the agreement of reorganization for that
company made in X885. Sinking fund of $25,000 per year retires these
$34,018; defioit, $3,036.
A sh tab u la Ac P ittsbu rg.—Owns from Youngstown, O., to Ashta
biThe
Wichita to Kingman, Kan., 45
bula Harbor, O., 62*6 miles. Organized as Ashtabula Youngstown * jointlyWichita & Western,& San Fran., but bouds are not miles, is owned
with the St. Louis
guaranteed.
Pittsburg in 1870. Defaulted and property sold August 21, 1878
The Leav. Top. & So RR. bonds at 4 per cent are guaranteed one-han
Existing oompany organized Sept. 25,1878, and it is leased by Penn
by the A. T. & S. Fe, and one-half by the Union Paciflo.
.
Co., which pays net earnings to A. & P. The common stock if
Chioago Kansas & Western stock ($10,000
is held by
$958,591 and preferred $700,000; par of shares, $50. Gross earning A.The& S. Fe, and the first mortgage bonds, at per mile) per mile, tue
T.
$14,000
are
tn 1885, $338,930 ; net, $95.285 ; interest, $90,000. Gross earnings guaranteed by the latter company, and these, with the income bonds as
in 1884, $387,187 ;|net, $93,693; interest, $90,000. (V. 42, p. 462.)




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16

SUPPLEMENT.

[Vol. x l iv .

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered in these Tables.
-Princl*
INTEREST OR DIVIDENDS.
DESCRIPTION.
..— „en Due.
,..
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Pay’ble
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.

¿itch. Top. <68.Fe—(Continued.)—

Cow. Sum.* Ft. Smith, 1st m ort.......1 G’rantee S
Marion & McPherson, 1st m o r t...... > rental. )
Florence El Dor. & w .,ls t M., gold.. ;
(
Wichita & Western—1st mortgage coup
Leav.Top. & S.W.—1st m., i« guar .by A t . b y U n . P .
N. Mexico & So. Pac.—1st M., gold, guar, rental..
Sonora, 1st. mort., gold, interest guaranteed..—
California So., new M. gold, guar.by A.T.&S.F......
Income bonds................................
Chic. Kan. & West., 1st, gold. guar, by A.T.& S. F.
do
income bonds, non-cumulat.. . . . .
Chic. Santa Fe & Cal., 1st mort., gold, guar ........
Southern Kansas—K.C. Law. & So., lstmortgage.
Southern Kansas & Western—1st mortgage.......
Sumner County RR.—1st m ortgage...................
Ottawa & Burlington RR.—1stmortg. . . . . . . . . .
S. Kan.(Gulf Divis.)—1st, g’ld,guar.by A. T.&S.F.
Income bonds (not cumulative) $4,000 per mile)
Southern Kansas In Texas, 1st mort., gold, guar.
Atlanta < Charlotte —Stock (guar. 5 p. ct. by rental)
&
New pref. mort..............................................
Mortgage bonds........... . . . . . . . .........- - •;
Income bonds, registered (not cumulative)
Atlanta < West Point—Stock............................
&
Debenture certificates................ ..................
Atlantic <t North Carolina—1st mortgage
Atlantic dt Pac.—
A.&P. gu. trust, gold (see remarks).
Incomebds., non-cum’tive, W. D. ($18,750 p. m.).
; M., gold ($20,000 p m,

92
93
26
45
46
372
262
210
450
450
185
139
18
42
350
269
2651
s
265 Lj
80
95
927
640
112
112
75

1879 $ 1,000
1,000
1879
1,000
1877
1,000
1884
1,000
1882
1,000
1877
1.000
1880
1,000
1886
1,000
1886
1886 100 &c.
1886 100 &c.
1,000
1887
1879 500 &c.
1,000
1880
1,000
1880
1.000
1881
1886 100 &0.
1886 100 &C.
1886 100 <fec.
100
1,000
1877
1,000
1877
500
1880
100
1881
500
1868
1,000
1887
50 &o.
1880
1871 500 &c.
1871 500 &o.
1,000
1882
1,000
1886

$798,000
713,000
775,000
761,000
1,380,000
4,425,000
4.050,000
2,106,000
3,505,000
12,200,000
6,100,000
15,000,000
2,940,000
1,659,000
212,000
500,000
3,920,000
(1)
(?)
1,700,000
500,000
4,250,000
750,000
1,232,200
1,232,200
196,000
17,610,000
12,000,000
1,189,905
796,629
2,100,000
(?)

7
7 g.
7 g.
6
4 g.
7 g.
7 g.
6
6
5 g6
5 g.
6
7
7
6
5 g6
5 g.
21«
7
7
6
3
6
8
4 g.
6
6
6
6
6 ft.

A. & O. Boston, North Nat. Bk.
do
do
A. & O.
A. & O. Boston, Nat. B.N.Amer.
Boston.
J. & J.
J. & J. Boston, Am.L’n& Tr. Co.
A. & O. Boston, Everett Nat.Bk.
J. & J. Boston, Nat.Revere Bk.
J. & J. Boston, Maverick N.Bk.
M. & S.
J. & D. Boston, Office of Co.
....
J. & J.
A. & O. Boston, Nat. Union Bk.
do
do
J. & J.
do
do
M. & 8.
do
do
A. & O.
do
do
M. & S.
do
do
do
do
M. & S.
M. & S. N.Y. Central Trust Co.
do
do
A. & O.
do
do
J. & J.
do
do
A. < O.
&
J. & J. Atlanta, Ga., atTreas’y.
do
do
J. & J.
Company’s Office.
J. & J. N. Y.f U. S. Trost Co.
Boston.
A. & 0.
New York.
M. & N.
do
At Mat.
Boston.
J. & D
do
J. & J.

..

Oct. 1, 1909
Oct. 1, 1909
Aug. 1, 1907
Jan. 1,1914
July 1, 1912
April 1, 1909
Jan. 1, 1910
Jan 1, 1926
March 1, 1926
June 1, 1926
1926
1937
Apr. 1, 1909
Jan. 1, 1910
Sept. 1, 1910
April 1. 1909
Sept. 1,1926
1926
Sept. 1,1926
March 7,1887
April 1,1897
Jan. 1, 1907
April 1,1900
Jan. 15, 1887
1891
1888
Jan. 1, 1937
Oct. 1, 1910
Nov. 1, 1891
Nov., 1901
June 1, 1922
1916

1885.
716
$299,525
S
S
i
S
r
Ä
Ä
Ä
—
..........................: : :
*1 S ; g 7
______________________: : : : : : :
46,093
fine. In Kansas constructed in 1886 and 1 8 8 7 ................
25,000
The collateral trust bonds of 1887 are direct bonds of tlie ^toDison, Miscellaneous.
company, against which are deposited in trust the bonds of branch lines
$7,110,186
Total disbursements................................... $6,830,707
oonstruoted in California and Colorado, not at any specified amount per
$504,185
$843,983
mile, but “ issued for the cash cost only of the roads, including equip- Balance, surplus.........................- ....................
—(V. 42. p. 59, 60. 61,303. 305, 364, 430,447, 462, 474. 4 8 5 , 487, 4 8 9 ,
mThe Chicago* Sanfa Fe & California Railroad is the company in Illinois 518, 574, 630, 663. 694, 754; V. 43, p. 102,125, 152, 162. 244, 274,
and Iowa forming the connecting line from Kansas City to Chicago, 333; 431, 451, 546, 571, 578, 633, 671, 718, 738, 773 ; V. 44, p. 21, 59,
about 450 miles—
Kansas City to Fort Madison. ra
6 0 ,14 8 ,2 4 5 ,36 2 .)
. - - -i
■
V
_. , .. w
.
about 200 miles, then to Pekin, 111., about 160 miles, and tnen
A tlan ta & Charlotte A ir Litae.—Owns from Charlotte, N. C.,to
over Chicago & St. Louis (purchased) 90 miles. Its bonds are guaran­ Atlanta, Ga., 269 miles. ¿The Richmond & Atlanta Air-Line was sold
teed bv the Atchison, and are a first lien on all but 90 miles, on which under foreclosure D eo. 5,1876, and the existing corporation was formed
there is a prior mortg. of $1,500,000, for which bonds of this issue are Feb 27.1877 On March 26, 1881, tne road was leased to the Richheld to retire them at maturity. See V. 44, p. 148.
.
tnvrad < Danville at a rental of $462,000 per year, equal to the interest
£
The Southern Kansas Gulf Division and the Southern Kansas in on debt and 5 per cent on stock; if gross earnings of A. & C. A. L.
Texas first mortgage bonds were issued as per circulars in /*. 4.Z, exceed $1,500,000, dividends to be 6 per cent ; and if they exceed
n 462 V. 43. P- 431. The bonds are guaranteed, principal and $2.500,000, 7 per cent. Gross earnings in 1882-83, $1,074,016; net,
interest’, by the Atchison Topeka & Santa Fe. The Gulf Dmsiou bonds $397,174; rental, $466,500; loss to R. & D. $69,325. In 1883-84, gross,
cover tlie road from Arkansas City south through indian Territory $1,042,631 ; net, $338,731 ; loss to R. & D., $127,769.
towards Denison, and also the branch from Kiowa on the Kansas
A tlan ta & W e st P o in
border southerly to WoU Creek and the Texas border (in the Panhandle). Point, Ga.. 80 miles; leased, t.—Owns from East Point, Ga., to West
6^3
«
In
The Southern Kansas Railroad in Texas was organized to bmldtiiatpart April, 1881, a controlling interestmiles; total operated, 861 miles. the
in the
was purchased for
of the line in-Texas, and on both lines the bonds are at ^ » M O pm mile, Central Georgia, and a stock dividend of stock per cent was afterward
106
guaranteed by Atchison. The income bonds issued by the So. Kansas declared in debenture certificates. Gross earn’s in 1884-85, $410,222; net,
DlvMon are at the rate of $4,000 per mile and will not be issued $173,079; in 1885-86, gross, $397,259; net, $138,001.
till these two divisions are completed.
A tlan tic & North C arolin a.—Owns from Morehead City toi Golds­
L a n d G r a n t .—The lands are in Kansas, granted ^b y A c to f Congress
March 3.1863, and Kansas, Feb. 9,1864. Land sales in 1885, 770A94 boro. 95 miles, and operates the Midland No. Car. Ry. from Goldsboro to
acres for $2,048,533, being an average of $2 66 per acre; assets Dec. Sinithtteld, 22 miles. Gross earnings in 1883-84, $146,324 ; net, $o0,482.
A tlan tic & Pacific.—This corporation was chartered by Aot of Con­
31,1885, $1,676,273 contracts and 445,863 acres yet unsold.
July 27,1866. The
oprRiTTnKR F inances . &c .—The connection with the Atlantio & gresson At. Top. & Santa Western division is from Isleta, near Albuqueroue,
Fe, to Big Colorado River, 560 miles, where it
Pacific took effeot for business in October, 1883, and the through meets the line to Molave. Cal. (242 miles), leased by this Co. in 1884
line to San Franclsoo by use of the Southern Pacific Un«8 0°t^ 8 4 . from
Southern
Cal.
a through
In Nov., 1885, the Cal. Southern was completed, giving a through route route theSan DiegoPacifie of PaoifloThe Cal. Southern gives Division is
to
on the
coast. Also the Central
to the Pacific coast by the Atlantio & Pacific road.
finished from Seneoa, Mo., to Sapulpa in the Indian Ter., 112 miles,
The report for 1885 was in the Chronicle , V. 42, p. 489.
m
For eleven months from Jan. to *ioy. 31,1886, gross earnings were andv operated by the St. Louis & San Francisco Railway Co. Topeka <
B
the “ tripartite” agreement of Jan. 31,1880, the Atoh.
fe
$14,459,378, against $14,318,024 in 1885; net, $7,110,200, against S. F. and the St. Louis & S. F. guaranteed 25 per cent of the gross earn­
lines to pay coupons,
large advances were made to
^Earnings and operations for three years, and inoome account for 1884 ingsAover theirboth those companies. and Oot., 1886, the plan was made
& P. by
In
and 1885, were as follows, these statistics embracing the ^ chison the
to exchange the A. & P. first mort, bonds for the new 50-year 4 per oent
Topeka & Santa Fe and Southern Kansas system s^“ ^^kVthnngh^riii bonds due in 1937, guaranteed severally (but not jointly) by the two
of the Sonora, Atlantio & Paoiflo, or roads owned jointly, although the companies, each company guaranteeing one-half of ^ c h bona, (See
interest on Sonora bonds is deducted from Atchison earnings.
V 43 p. 571, 559, 607.) Stock authorized is $100,000,000, and
lssued’$64,810,300 (par $100), of which $51,302,600 is owned Dy the At.
OPERATIONS AND FISCAL RESULTS.
T & S. F. and the St. Louis & S. F. companies equally, and deposited
1885.
1884.
1883.
in trust tor thirty years. The stock is classed thus : Western Div., oom.
2,397
2,374
stock, $44,750,000 ; Cent, and Mo. divs., oom. stock, $8,665,300; pref.,
Total miles operated..................
2,219
$11,395,000. The old pref. stock has no preference over the A. & P.
Operations—
1.502,485
1,849,577 Western Division stock.
Passengers carried, No............... i,07E ,io»
..
, „
,, .
. _.
K I S S 3 o o , ^ 5 : : : : i 2 o : i i i : 6 5 5 x s | ;y o » «
The Southern Paoiflo sold the 242 miles of road from Mojave toThe
Rate per passenger per mile.. . . 2-909 ots.
2-648 ots.
2 593 ots. Needles, on the Colorado River, to the A. & P. Company for $7,271,H
VAiffiiT fT T niDvnu
O iR
H9C9MBI
2,725,191
2,602,056 100, payable in A. & P. 1st mortgage bonds, issued on said 242 mfiea,
Freight (ions)i moved.......... ... ... 2,240,430
.
Freifht (tons) carried'ônëmüê.582,176,176 634.711,316 607,753,550 to amount of $6,059.250 and $1,211,850 in cash. Until clear title
Freight (tons) carried j
T ia t per ton per mile----------2-009 OtS.
1'882 ots.
1 789 Ots. totbispieoe of road is given, the A. & P. takes possession and pays
Rate iW ton Der mile................
$
6 per cent per annum on the $7,271,000. The same negotiation gave
Earnings—
„
...
3,889,411 a right by contract to ran through trains to San Francisco over the
3,583,018
Passenger.................................... i ? ’«Qa’?q2
10,873,621 Southern and Central Paoiflo lines on payment of rental either on a
11,946,453
808,363 mileage basis or at 3 per oent per annum on $40,000 per mile. See Y. 39,
762,412
Mall, express, &o........................
707,297
16,291,883 15,571,395 ** Thailand *grant claimed under the old A. & P. charter of July, ’66, is
Total gross earnings........ 15,909,441
25 600 acres per mile in Territories and 12,800 acres in States. On
Operating expenses—
2,280,291 thé West. Div. upards of 14,000,000 acres in New Mexico and Arizona
2,861,236
Maintenance of way, &0.. . . . . . . 2,216,574
1,409,732 have been earned by construction, and in the Indian Territory 2,600,000
1,461,896
1,124,949
Maintenance of equipment
3,777,357 acres more, the best of these lands being well adapted for grazing. The
3,560,610
3,227,352
Transportation expenses. . . .
388,393
670,856
673,722
of
company’s lands
far been applied to pay­
Miscellaneous................ .
459,194 proceeds of saleson the& P. bonds or the have so have been conveyed In
421,378
410,319
ment of interest
A.
lands
T a xes....................................
trust to the Atchison and San Francisco companies, and about 6,000,000
8,314,967 acres have been so disposed of. See Ch r o n ic l e , V. 40, p. 49. The
8,975,976
Total operating expenses 7,652,916
7,256,428 first mortgage bonds may be drawn and paid off at 110 with proceeds or
7,315,907
Net earnings................................ 8,256,525
53-40 land sales. They are receivable at par in payment for lands. A map oi
5509
P. o. of op. expns. to earns........
48-iu
the land grant was published in the Ch r o n ic l e , V. 36, p. 468.
INCOME ACCOUNT.
No annual report for 1885 has been published, but the earntogs and ex­
p e n s e s of 1885 were given in V. 43, p. 216.
(V. 42, p. 338, 393, 462,
1885.
1884.
Receipts—
$7,256,428 487r630; V 43 p. 48, 2 1 6 , 458, 508T571, 607 ; V. 44, p. 21, 22,148.)
$7,315,907
Net earnings............................................... •—
28,012
28,488
A tlan tic & St. Law rence.—Owns from Portland, Me., to Island
149,743 Pond Yt. (and branch), 151 miles, there connecting with Grand Ttujik
142,014
180,188 of Canada, to which leased for 999 years, August 5,1853, at a rental
188,281
eaual to bond interest and 6 per oent on stock. The bonds for $54L
$7,614,371 000 to city of Portland are ^provided for by accumulations of sinking
$7,674,690
fund. The Grand Trank RR. owns the 2d and 3d mortgage ¿»ends, ana
Disbursements—
$25,500 has issued its own debentures against them. The stock o f $5,484,w o
$37,098
1,980,664 Davs dividends (M. < S.) 6 per e. p. annum. Gross earnings in 1885-»}»*
1,812,544
&
Int. on At. T & S. F. and So. Kan. bds...........
854,930 $lfo02,884; net, $255,814. Gross in 1884-85, $973,363; net, $211,396.
866,655
180,188
188,281
interest on land bonds............. .....................
A u gusta 8c S a v a n n a h .—Owns from Millen to Augusta, Ga-, 53
283,500
Has ac
3,414,786 mfies. Leased to Central of Georgia for $73,000 per annum
3,414,73*6
bonded debt.
tir--1 îüP -**- -**
6
6
Rate of dividend................. . . . . ...........»• ..«•




March, 1887.J

RAILROAD

STOCKS

AND

BONDS.

ir

Subscribers w ill confer a great favor by givin g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
....
Att <t St. Lawrence.—2d M. (owned by Gd Trunk).. . . . .
$1,499,916
6 g. A. & O. London, Gr. Trunk R’y. Oot. 1, 1884
3d M., sterling, 5-20 years
150 1871
*ÌÓ0
712,932
do
do
May 1, 1891
6 g. M.& N.
Augusta A Savannah—Stock........
53 . . . .
$100
733,700
31« J. & D.
Savannah.
Deo., 1886
|________ Valley—GenTmort.,(s..1. $4,000 per yr.)
|
¿cud Sagte
80 1880
1,000
380,000
6
J. & J. Phila.,F.Ins.Tr.&S. Dep. Jan. 1. 1910
Baltimore A Ohio—Stock
1,770 . . . .
100 14,792,566
4
M. & N.
Baltimore, Otfioe.
Nov. 1, 1886
Preferred stock.........................................................
....
100
5,000,000 r 3
J. & J.
do
do
Jan., 1887
Loan due in 1880, extended................................... ---• . . . .
....
577,000
4
J. & J.
do
do
At will.
Loan, 1853, extended in 1885................................
. . . . 1853
•• •
•
1,710,000
4
A. & 0.
do
do
Oot. 1, 1936
do 1870 .sterling, *800,000, sink, fu n d .......... . . . . 1870
....
1,906,839
6 g. M. & S. Lond’n,BaringBros &Co Mar. 1, 1895
Baltimore loan, 1855-’90, sink, fu n d..................... . . . . 1855
....
2,575,000
6
J. & J.
Baltimore, Office.
1890
Sterling mortgage, sinking fund............................. 411 1872
*100
7,179,612
6 g. M. & 8. London, J.S.Morgan&Co Moh. 1, 1902
Sterling mortgage, sinking fund........................... 421 1874
*200
8,290.096
&
6 g. M. < N. London, T.S.Morgan&Co May, 1910
Purchase of Connellsv. RR (payable $40,000y ’lyi . . . . 1875
560,000
6
J. & J.
Baltimore, Office.
1886-1900
Loan,ster.,(s.f.*7,500)(B.O. & Ch.bds collat’l)....... 263 1877
*200
7,381,968
5 g. J. & D. Lond., Baring Bros.&Co. June 1, 1927
Bonds (Parkersburg Branch bonds collateral)_
_
104 1879
1,000
3,000,000
6
A. & O. Balt. & N. Y., D. M & Co. April 1,1919
Bonds to State of Maryland..................................... . . . . 1878
....
366,000
6
J. & J.
Baltimore, Office.
July 1, 1888
Equipment loan ($2,500,000) gold........................
1887
1,000
2,000,000
41« g. J. & J.
Baltimore.
10 d. o. vearly
Sterling mortgage on Philadelphia Branch.......... . . . . 1883
*200 11,616,000
41« g. A. & O. London, Brown, S. & Co. April 1,1933
Bonds, gold (Pittsb. & Connellsville b’ds collat’l). 150 1885
1,000 10,000,000
New York Agenoy.
5 g* F. & A.
Feb. 1, 1925
Mort. on Schuylkill R. East Side RR., gold (guar.)
1885
1,000
5 g.
(V
Deo. 1, 1925
Baltimore A Potomac—1st M (tunnel) gold, s. f . 1 p. c.
iifl 1871
1,000
1,500,000
6 g. J. & J. London or Baltimore. July 1, 1911
1st mort., road, gold, coupon, s. f. 1 per ce n t.......
90 1871
1,000
3,000,000
6 g. A. & O.
Baltimore.
April 1, 1911
2d mortgage, income, road and tunnel, reg..........
92 1875
1,000
2,000,000
6
J. * J.
do
Jan. 1, 1915
Beech Creek— mortgage......................................... 125 1886
let
1,000
5,000,000
4
J. & J. N. Y., Gr’d Cent. Depot. July 1. 1936
Car trust loan....................... ..................................
400,000
Belleville A El Dorado—Is t(int. guar. St.L.A.& T.H.)
52 Ì880
....
220,000
7
J. & J. N. Y. St. L.A.&T. H. RR. July, 1, 1910
2d mortgage..............................................................
52 1880
•• •
•
330,000
6
F. & A.
do
do
Aug. 1, 1920
Belleville A South. III.—1st M. (int. & s. f. guar.).......
56 1866
1,000
1,041,000
8
A. & O. N.Y. St. L.A. &T. H. RR. Oot. 1, 1896
Bells Cap.—
Stock......................................................... . . . .
550,000
5
Jan. 1, 1887
1st mortgage............................................................. . . . . 1873
....
250,000
7
J. < J. Phil.,Cassatt,Town. &Co July 1, 1893
fe
Extension 1st mortgage...........................................
1875
....
100,000
6
F. & A.
do
Aug. 1, 1905
Consol, mort. (for $550,000)...................................
1883
189,000
6
A. & O.
April 1, 1911
Belvidere Del.—1st mort. due 1877, extended, guar.
64 1877
1,0*00
1,000.000
6
J. & D. Philadeiphia, Pa. RR.
1902
Bald Eagle V a lley.—Owns from Vail Station, Pa., to Lockhaven,
Total grain of all
’82-83.
’83-84.
’84-85.
’ 85-86.
Pa., 51 miles; branch, Milesburg, Pa., to Bellefonte, Pa., 2Lj miles;
13,048,25813,718,428
kinds.................bush 12,770,392 11,553,052
Snowshoe to Sugar Camp, 26*2 miles; total operated, 80 miles. Opened
Live stock..............tons,
90,530
82,187
67,89070,220
December 7,1864, and leased to Pennsylvania Railroad Company tor 99
Lumber................... tons,
93,332
107,398
86,56092,831
years. The branoh is the property of the lessors. Rental, 40 per cent Through merchandise—
of gross earnings. Gross earnings in $1885, $463,156; net, $231,719. In
East and West....tons. 2,108,325 2,275,252 2,338,147 2,731,119
Feb., 1885, 5 per cent paid. Stock is $935,000 (par $50), and divi­
The gross and net earnings of the main stem and its branches and of the
dends are paid according to earnings.
Baltimore & O h io -{See Map).—Line of R oad —
The B.& O. system other divisions for the last fiscal year, as oompared with 1884-85, were:
/—Earnings, 1884-85.—,,—Earnings, 1885-86.—.
embraces roads in Md., Va.. Penn., Ohio, Ina. and 111., which are clearly
Gross.
Net.
• Gross.
Net.
shown in the accompanying map. By means of the Marietta & Cin­
cinnati, via Parkersburg, the road has a direct route to Cincinnati. Main stem, etc............. $9,733,252 $3,969.900 $9,846,613 $4,026,36 6
315,308
194,771
325,320
234,506
The B. & O. mileage is : Main stem, Baltimore to Wheeling, 379 miles Washington Branoh...
547,757
48,848
663,044
161,347
and branches, 272 miles, total, 651 miles; Washington Branoh, Relay to Parkersb urg B ranch...
1,060,166
295,856 1,270,476
478,523
Washington. 31 miles; Parkersburg branch, Grafton to Parkersburg, Central Ohio Division.
M
817,785
119,918 1,013,014
309,711
104 miles; Central Ohio division, Beflaire to Columbus, 137 miles; Lake Lake Erie Division . . .
1,72Ì|ÒÌ2
261,605
2,093,568
269,916
Erie division, Newark to Sandusky, 116 miles; Chicago division, Chicago Chicago Division.........
1,999,960
773,419
2,430,085
842,421
Junotion to Chicago, 271 miles; Pittsburg division, Cumberland to Pittsburg Division.......
299,372
7,840
446,259
13,450
Pittsburg, 150 miles, and branches, 94 miles, total, 244 miles; Wheeling Wheeling and Pitt. Div.
...........
............
114,767
15,246
< Pittsburg division, Glenwood to Wheeling, 66 miles; Straitsville divi­ Philadelphia Division.
fc
118,430 def. 29,102
214,291
35,208
sion, Newark to Shawnee, 43 miles; Philadelphia Division, 99 miles- New’k Somerset & St’le
Lauderburg Branch, 20 miles; total operated, 1,783 miles. The Balti­
Totals..................... $16,616,642 $5,643,057 $18,422,437 $6,386,694
more & Ohio Philadelphia branoh, connecting with the Balt. & Philadel.
The working expenses of the whole system were 65-33 per cent of gross
RR., makes a line from Balt, to Phila., and thence via the Schuylkill Val
& East Side RR. to a connection with the Phila. & Read, lines to Bound revenue in 1884-5, against 66-03 per cent the preceding year. Results
Brook, N. J. Thence the proposed route to Staten Island, as noted in on all lines in five years have been:
Years.
Gross Earnings.
Operating Expenses.
Net Earnings.
Chronicle, V. 41, p. 611.
1880-81............$18,463,877
$11,390,479=61-69 p. o.
$7,073.398
, °,RSA, IZoTi9,N’ Leases. &c.—The corporation was chartered in Mary 1881N
82... 18,383,875
10,929,213=59-44
“
7,454,662
land Feb. 28,1827, and in Virginia March 8,1827. First seotion opened
83... 19,739,837
11,034,014=55-89
“
8,705,823
May 24, 1830. The company was assisted by loans from the City of 188284... 19,436,607
11,676,307=60-07
“
7,760,300
Baltimore. The relations with the auxiliary branches and leased roads 188310,973,585=6603
“
5,643,057
are complex, but the B. & O. virtually owns nearly all of these east of 1884- 85............ 16,616,642
12,035,743=65-33
“
6.386,695
the Ohio River, and the total charges for rentals and guarantees are 1885- 86........... 18,422,437
<Y- 42>ft 92>271’ 630! V. 43, p. i9 0 ,’ 244, 387, 458, 5 9 3, 6 0 5, 635,
moderate. In 1885 the oharges for advances and the stocks and bonds
i ,!r!ie< i !0ripaniea beld were $38,746,447 (of which $5,765,777 were 671; V. 44, p. 89, 343.)
l
B altim ore < P o to m ac.—Owns from Baltimore. Md., to South
fc
held by trustees). The company has been exceptional in not increasing
its own stock or bonds for new properties acquired, and had a surplus End Long Bridge, Va., 43 miles; and from Bowie to Pope’s Creek, 49
to credit of income account Sept. 30, 1886, of $48,047,461. Fiscal year miles ; total, 92 miles—including tunnel in City of Baltimore. The road
<IIC Z D oOi
3 IS s6p «
is controlled «by T Pennsylvania Railroadvyt/., o l . A UJL U 'IK t--------Co., and first mortgagebonds
------ , % , y Vthe
*v
iu u llO
U L diK
Stocks a n d B onds —The pref. stock carries 6 per cent dividends only, guaranteed by Pennsylvania and Northern Central. Capital stock,
m common stock has paid -in 1877, 8 per cent; in 1878, 8 in stock; in $3,553,250. In 1888, gross earnings, $1,335,844; net earnings, $512,647; interest charge, $283,762; surplus $228,885. In 1885, gross earn'■ o o a , 1883* 1884 and l O O J ,
i n , s ' -| OQ£> d ----- r r i i T -------*** 18? ° ’ 9; 111188 ^ 1882’ AC7 0 0 , 1 0 0 4 » U U 1885,
oasb:
loo*
range in prices of common stock in Baltimore in toy®* $1,323,091; net, $554,540; interest charge, $297,181; surplus,
$257,359. Income bonds wholly held by Penn. RR. Co. Gross earnings
iav L qS8 83- , ^ l ° ; ^ i8 8 2 ,I9 0®202; in 1883,192i«®205; in 1884,
fro no Jan. i to Jan. 31,1887, $107,127, against $101,091 in 1886 ; net,
158® 180’ m 1885’ 1661a®18a ; in 1886,150® 191; in 1887 to Mar. 19, $30,931, against $38,026.
’
'
B e e c h C r e e k .—Jersey Shore, Pa., to Gazzam, 104 miles; branches
The Baltimore & Ohio direct bonds of 1879 on Parkersburg
to Phillipsburg, to mines, &c., 21 miles; total, 125 miles. This is suc­
in™?™ ar88e™ red toy deposit of mortgage on that road. The sterling
mortgage of 1883 is made to William F. Burns, John Gregg and T. Har- cessor to the company in which, under the name of Beech Creek Clear­
“ 80R Garrett, trustees, and secured also by pledge of *1,000.000 1st field & S. W., the Messrs. Vanderbilt and others were interested. This
& pmia- RR- <
Md- State line to Phila.) The company was formed on reorganization in 1886 with the above mort­
18771d? e 1927>are secured by the mortgage bonds of the B. gage bonds and $1.300,000 of preferred stock and $3,700,000 common
y -® Ghio. roads deposited as collateral. The B. & O. bonds of 1885 are shares $50 eaoh. In Jan., 1887, paid a dividend of 5 per cent, and 2*3
secured by $10^000,000 2d consol, bonds of Pittsburg & Connellsville on pref. For last half of 1886 gross earnings were $379,116; net,
v f union Trust Co. of N. Y. as trustee. The bonds of $210,944. (V. 42, p. 631, 727; V. 43, p. 308,578, 773 ; V. 44, p. 362.)
B e lle v ille & E l D orad o.—An extension of Belleville & 8o. Illinois,
n \ “ptouylkill Val. & East Side RR. ($4,500,000) are guaranteed by
front Du Quoin to El Dorado, 52 miles, and leased to St. L. Alton & Terre
E -& O., as that road forms part of the route Phila. to N. Y.
Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, and
fnr1aa-T
J2N8’ RANGES, * 0.—The fiscal year ends with Sept. 30, and
vi „
8 ^ a b stra ct of the report was given in the C h r o n ic l e , Vol. 15 per cent on all above that amount. Rental received for 1884.
T • fuli , eP °rt in p a m p h let form , w ith in com e a cco u n t an d $15,171; for 1885, $15,463; for 1886, $15,707. Stock, $1,000,000.
r
B elleville & S o u th e r n Illin o is .—Owns from Belleville, III., to
®toeet, is n o t issued till som e m onths a fte r th e close o f fisca l year.
fc
r.emarked of the year’s w ork: “ It is shown that the Duquom, IU., 56 miles. It was leased Oct. 1,1866, to the St. Louis Alton <
tbe
and the branches stated in comparison with Terre JEfaute Railroad Co. Lease rental 40 per cent of gross earnings
up to $7,000 per mile (except on coal, &c.), 30 per cent above $7,000 and
2 ™ r
1885 have increased $113,361 and the working exnefnmfH? Af
$¿*6,895, making a comparative increase in the up to $14,000 per mile, and 20 per cent on any excess of $14,000 per mile.
E S “ $o6,465. The expenses of working and keeping the roads Rental forl884, $158,799; for 1885, $157,917; for 1886, $166,108. In­
n?nrft?r? e y 1 1repair amounted to $5,820,247, being 59-10 per cent terest on bonds, and sinking fund $5,000 per year, guaranteed by lessees
1
n S f e “ 188’ showing a decrease of 11-lOOths of 1 per cent corn- Common stock, $430,000; pref. 8 per cent stock, $1,275,000, non-oumure n t
previous year. A semi-annual cash dividend of five per lative. Dividends on preferred stock past four years have been—5 in
of t n n lP iS J <
Iaplt?i
was paid on the 2d of November, 1885, and 1886 : 5 in 1885; 5 ^ in 1884; 6 I4 in 1883; 5te in 1882; 4*2 in 1881.
Bhow^arffn™?* P’V'toe 17th of May, 1886. The profit and loss account , B ells G ap.—Bell wood, Pa., to Irvona, Pa., 25 miles. Gross earnings
bv this
f?r i he pa8i fiscal year *f $232,845. It will be seen L? H 34'5’ $146,036; net, $78,830; interest paid, $34,479; dividends,
dpi-iraoaceoupt that the surplus fund, which represents invested capital $16,500; surplus, $27,851. Of theconsoL mortgage $350,000 is reor
net earnings, and which is not represented by either stock served to retire prior issues. Stock was increased in 1883 to $550,onacpmmt?rf aaioants to $48,047,461. The payments for investments 000. Chas. F. Berwind, Pres., Philadelphia.
B elvidere D elaw are.—Owns from Trenton, N. J., to Manunka
due in i
i ¿ e 8i™ 1
,
^lg
fljr the redemption of the sterling loans
N.
Millham Cut-off, 1 mile, Flemington RR., 12
600 whinii ’J f ^ A i 910 ^ 1327» fining the year amounted to $642,- Chunk,total J., 67 miles;miles. Leased to United Companies, and transmiles;
operated, 80
TheW ? ;
^nC
Pound sterling, make *132,768 15s. 2d.”
ferred to Pennsylvania RR. March 7,1876, by which operated as their
of tonnage carried1 ia f0Ur years PaSt 18 sllown
the f ° Rowing table Belvidere Division, and net earnings paid over as rental. In Feb., 1885,
«uuuagB carnea :,0
Goal and coke carried—
’82-83.
’83-84.
’84-85.
’85-86. the Flemington RR. Co. was merged in this. The 1st mort. and new
i»nmain stem (tons)... 2,581,557 3,268,521 3,487,170 3,673,488 4 p.c.bonds are guaranteed by the United Companhs. In 1885 netearnOfwhioh for Co.’s use
were $467,670 and interest payments $269,718. In 1886, net,
409.695
439,912 443,544
489,361
hn Pittsburg Div.
? a2;
2,402,130 2,157,696 2,003,932 2,427,238 $ tt 43, p.int., $263,341. Capital stock, $1,150,000; par of shares, $50.
578.)
fin Trans-Ohio D ivs..’.".
684.696
966,458 909,594 1,329,681 —(V.
T ® e®nI*igton & R u tla n d .—Owns from Rutland to Bennington,
T
TotaJ......................... 5,668,383 6,392,675 6,400,746 7,430,367 Vt., 57 mUes; branch, No. Bennington to New York State Line, 2 miles;
total, 59 miles. Chartered as West. Vermont in 1845, and consolidated
nnied to Baltimore—
in Harlem Extension in 1870. Since Sept. 10,1877, the Vermont division
vnSTl*.................... tobte.
701,935
717,258
766,163
752,150 f f i W n
the
X?®at.................... bush. 6,633,443 6,415,550 3,200,025 3,437,159 $1,000,000opei,ated by(par reorganized Bennington & Rutland. Stock
authorized
$50), and $502,000 issued. In
vorn.................... ..bush. 4,935,900 3.472,940 8,383,859 9,474,275 earnings, $205,922; net, $30,393; interest, $33,250; def., 1885-6 gross
$2,857.




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SUPPLEMENT.

cV\r,
rjtJ>

M a r c h , 1887. J

RAILROAD STOCKS AND BONDS.

19

gnbscrlbers w ill confer a great favor by giving Im m ediate notice of any error discovered In these Tables.
DESCRIPTION.
Bonds—
Prinoi.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
For explanation of column headings, &c., see notes! of
of
Par Outstanding Rate per When Where Payable, and by pal,When Due
Stocks—Last
on first page of tables.
Road. Bonds Value
Cent. Payable
Whom.
Dividend.
Bdvidere Del.—(Oont’d)—Cons, mortgage of 1876.
1876 $1,000 $1.200.000
7
J. A J. Treasurer. Trenton,N.J, Jan. 1, 1916
Consol, mort., reg„ guar, by Un. Co’s & Pa. RR..
1885-7 1,000
1,250,000
4
Various Philadelphia, Pa., RR. Sept., 1925-27.
Flemington RR. M. bds.........................................
1876
1,000
250,000
6
J. A J. Treasurer, Trenton,N.J Jan. 1, 1916
Bennington A Rutland—1st mortgage.....................
1877
1,000
475,000
7
M. & N. N.Y., Union Trust Co. Nov. 1, 1897
Berkshire—Stook........................................................
100
600,000 „ - 1 \
Q .-J . Stookbridge, Treasurer, Jan. 1, 1887
Boston A Albany—Stock................................... .
100 20,000,000 ^
2
Q .-J .
Boston, Office,
Dec. 31,1886
Plain bonds, coupon or registered........................
1872
1,000
5,000,000
7
F. A A.
do
Feb. 1, 1892
Loan of 1875, coup, orreg................................ .
1875
1,000
2,000,000
6
J. A J.
do
July 1. 1895
Bonds issued to State for its stock................
1882
3,858,000
5
A. A O.
do
A p r ili, ig02
Boston Concord A Montreal—Old pref. stock, guar.
T oo
800,000
M. & N
Boston, Offloe.
Nov. 10, 1886
Com. and new pf. stock (new pf. stock is $540,400)
100
1,000.000
Sinking fund bonds ($624,000)........... ..................
1858 100 Ao
202,000
6
J. A*'j
Boston, Offloe.
1889
Consolidated mortgage bonds (for $2,000,000)_
_
1873 200 Ac
1,947,400
6 A 7 A. A O.
do
do
Improvement mortgage bonds................................
1893
1881
1,000
500,000
6
J. A J.
do
do
1911
Bost.Hoosac Tun. A West.—Debenture bonds.............
1883
1,000
2,000,000
5
M. A S. Cp. Sep.,’85, pd. J ’y,’86, Sept. 1, 1913
Boston A Lowell—Stock................................................
100
5,329,400
3
J. A J,
Boston, at Office.
Bonds...................................................................... .
Jan. 1, 1887
1872
999,500
7
A. A O.
do
do
Bonds.................................................................. .
A p r ili. 1892
1875
500,000
7
M. A S.
do
do
Bonds..........................................................................
Maroh 1,1895
1876
750,000
6
J. A J.
do
do
July 1, 1896
Bonds..........................................................................
1879
620,000
5
J. A J.
do
do
July 1, 1899
Bonds........................................................................
1883
250,000
4 ^ M. A N.
do
do
Bonds........................................... ...........................
May 1, 1903
1885
500,000
4
M. & S.
do
do
Lowell & Lawr., bon d s.............. ............................
Sept. 1, 1905
200,000
6
A. A O.
do
do
Salem & Lowell, b on d s..........................................
Oct. 1, 1897
226,900
6
A. A O.
do
do
Nashua & Lowell.......................................................
Oot. 1, 1898
200,000
6
Do
do
....................................................
1891
100,000
5
Boston A Maine—
Stock............................................... 583
1900
100
7,000,000
5
M. A N.
Boston, at Offloe.
Bonds, coupon and registered................................
Nov. 15,1886
1873-4 500 Ao.
3,500,000
7
J. A J.
do
do
Improvement bonds.................................................
Jan.,1893 A 94
1885
926,000
4
F. & A.
Boston A R. ¥. Air-Line—Stock, pref. (guaranteed)
1905
54
T oo
2,933,500
2
A. & O. N.Y., N.Y. N.H AH .Co. Oct., 1, 1886
1st mortgage..............................................................
50 1880
1,000
500.000
5
F. & A.
do
do
Boston A Providence—Stock..................................... .
1905
68
100
4,000,000
4!fl M. & N.
Boston, at Offloe.
Bonds to purchase branches, coupon or registered
Nov. 1, 1886
1873
500.000 1
7
J. A J.
do
do
July 1, 1893
B e r k s h ir e .—Owns from Connecticut State Line to West Stock?
Owns from Boston. Mass., to Portland
bridge, Mass., 22 miles. Leased in perpetuity to Housatonio Railroad \r?°i I1 “ ., *
i f 5 T?1 ® ,:.branches, 11 miles; leased—Boston to New Hamp. State
18
Company at 7 per ct. on capital stock, $600,000. Lessors pay taxes &c
uSe t0 Maine State Une 16 miles; Maine
and for this reason the quarterly dividend due in Oct. is usually omitted
State lineto Portland 51 miles; Conway Junotion to North Con wav 73
Boston & A lb a n y.—Owns from Boston, Mass., to Albany, N Y
201 miles; numerous branches, 99 miles; leased lines, 84 miles • total miles; Worcester, Mass., to Rochester, N. H., 94 miles: numeroperated 384 miles. The Boston A Albany was formed (Dec. 1867) ous ®uort branches, 187 m iles; total operated, Including Eastby the consolidation of the Boston & Worcester and the Western rail­ .hiV'58i miles, less 3 miles leased. In Maroh, 1883, voted to lease
roads. The five per cent bonds of 1882 were issued to the State of the Eastern RR. of Massachusetts, but after litigation the lease was held
anew one was made In Deoember, 1884, on the basis
Massachusetts in exchange for 24,115 shares of B. & A. stock held bv ;?„* Jnvai I(1
the State, and in September, 1883, out of this stock a stock dividend of stated under title of the “ Eastern” in this S u p p l e m e n t , in Deo., 1885.
10 per cent was made to stockholders. In 1886 another 3U per cent of leases of the Worcester Nashua, & Rochester and the Portland & Rochesi0m?° years from Jan. 1, 1836, were confirmed by vote of
stock was given to stockholders. Last annual report in V. 43, p. 578.
For the quarter ending December 31 gross earnings were 82 196 143 stockholders. The year ends Sept. 30. The last annual report was In
against $2,136,147 in 1885 ; net, $682,749, against $753,911 surplus v . a j, p. 717, and the Income acoo unt for two years was as follow s:
over fixed charges, $57,717, against $167,202.
1
INCOME ACCOUNT.
Operations for four years were as follows
Receipts—
1884-35.
1835-86.
Passenger
Freight (ton)
Gross
Net
Div. Gross earnings..........
.......
$6,232,036
$7,253,881
Years. Miles , Mj^age.
Mileage.
Receipts. Receipts.* p. ct Net earnings..............
$2,071,09)
$ 2,500.472
18823.. 369
373,530,456 $3,539,875 $2,380,971 * 8
Rentals, interest, ¿ o .
.......
279,463
289,809
18834.. 384
167.402,441 374,347,455 8,148,713 2,362,836
8
18845.. 384
167.097,784 398,862,058 71637,982 2,344,305
8
Total inoome..........................
$2,350,553
1885- 6.. 384 * 17 7’,7^7’i 39 390,464,378 8,298,733 2,488,345
$2.790,281
, „ .
,
8
Disbursements—
Net receipts include income from rents, Ac.
Rentals paid................................
$1,225,526
$1,365,117
-(V . 42, p. 217, 603; V. 43, p. 22,163, 514, 578 ; V. 44, p. 212.)
Interest on debt............................
266 424
255,440
Boston Concord Ac M o n tr e a l.-Owns from Concord, N. H., to D ividends................................... (8 p. c.) 560,000
(9*3 p. 0.) 665,000
Woodsville, N. H., 93 miles; branches—Woodsville, N. H., to Groveton Eastern (under lease)*................
158,603
469,724
Junction, 53 miles; Wing Road to Mt. Washington, 20 miles; leased
Plymouth to No. Woodstock, 21 miles; total operated, 186 miles
Total disbursements.
$2,210,553
$2,755,281
I ? 1 ® 1884, leased to Boston A Lowell. See V. 38. p. 705
1*
$140,030
$33,000
P tv 6
iundbonds due in 1889, there are outstanding in the hands Balance surplus...............
$202»000»? n which interest is paid; the trustees holding
* Includes interest and sinking fund for improvement bonds.
$306,000 and the corporation holding $116,000 on whioh no int. is paid
Fiscal yeaa' ends March 31. The income account in 1884--5 showed net —(V. 42, p. 518, V. 43, p. 607, 7 1 7 ; V. 44, p. 184, 369.)
$34 ^ l i fr° m rental8’ &c* $272,748; charges, $307,564; balance, deficit _ B o * t ° n * N e w Y o r k A ir L in e .—Owns from New Haven, Conn.,
>
T u n n e l * W e s te r n .-O w n s from Massachu to WilUmantic, Conn., 50 miles; leased, Tumerville to Colchester, 4
setts State Line to Rotterdam (junotion of N. Y. WestSh. & Buff.RR ) N miles : total operated, 54 miles. Formerly the New Haven Middletown
on l 1 ™ ’ S 1 leases branches to Saratoga and to Schuyler ville. N Y ! & WilUmantic. A lease was made in Oot., 1882, to the N. Y.N.H.& Hartf
,,1
'“,*
KR for 99 years at 4 per cent dividends per year on the pref. stock and
?hroug‘.Wt° M
S f f i k . ” “ ™*d
*»«
nm ntoj interest on the bonds; the common stock is $834,900.
Y ?? done under contract by the Continental
B oston & Providence.—Owns from Boston, Mass., to Providence
R. L, 44 mUes; branches,20 miles; leased, Attleborough to North Attle issued by that company, gave particulars con- borough. 4 miles; total operated, 68 miles. Co. has valuable depot
J*™118 the company as quoted in the L
nvestoks’ Supplc.- properties in Boston. Notes outstanding Sept., 1886, were $260.000
1885, inclusive. The debenture bonds are re- ®ro> earnin£8 in 1885-86, $1,784,805; net, $399,380; in 1884-85.'
8
A
osr-oo,
f
i,pnorJ ° maturity and may be converted into mortgage $1,677,086; net, $381,326.—(V. 43. p. 60 5 .)
$6 ofin
f e her®
aft® issued. Stock outstanding Sept. 30, 1885,
F
B r a d f o r d B o r d e ll Ac K ln z u a -(3 -fo o t gauge)—Mileage from
$6,000,000. Augustus Kountze, N. Y., President.
Bradford, Pa., to
q i g o " ® n d i n g Sept. 30,1886, gross earnings were $632,301; net 2 miles: Rew CitySimpson, Pa., 15 miles; Kinzua Junotion to Rew City.;
>
toEldred, 12 mUes; Simpson to Smethport, 10 mUes
$182,250; interest, $ 100,<>00; taxes, $18,933.
’
’
total, 39 mUes. Stock Is $500,000, par of shaies, $100. In Nov., 1885.
«Tao)o « o ? nii;95®. for quarter ending Dec. 3 in 1886, $183,191. against boudholdera subscribed 5 per cent on their bonds to resume payments
c h a r g e s o f ? 5; net>$62,2fil,again8t $3 ,388 in 1885: surp us ,V r Gross earnings in 1885, $71,897; net, $19,775. John J. Carter. Titus­
9 3 ,1 3 0 ,« ^ ; V. 43. ville. Pa., Pres’t.
from Boston to Lowell, 27 m.; branches
n S ih m & P ’
LoweU & Lawrence, 12 miles ; others 22
S odtS
m
C tran 20
ie?
ioasod-Nashua& LoweU, 15 mil. « ;
road^in
13 miles; Wilton RR., 15 miles; Peterborough Railmilpfl*
Manohe8ter < Keene KR., 29 miles; Central Mass 44
fe
owrate^R Vnn® a ,J 26 “iSt8; J
Q
V)tal owned and leased, 2 21 miles* Also
c ^ d T cia re m o n f ^ 0Ik 1 a l m e s : No. of N. Hamp.. 83 miles, and Con
8
X , emont’ N. H., 90 miles; total in 1885-86, 717 - lies The
coMoUdated b f
Ji°weR railroads were purchased and
188« a
tbe Middlesex central in 1883. In September
In
* 9 Central Mass. RR. was male.
P
er’
& M o n & r a i ^ « T » 2 t t+e or^ /
New .HamP' and the Boat. Con
eontool n f + h A v?i ed on the terms stated in V. 38, p. 70L and
some of°thehs
thj?n assumed; but suits were commenced b
the
stockholders to have the leases annulled. In March l s s 7
lrtnn _ I D Q _
J
T f nemuatlous were t h e u ^ , 1 *
'/IU
^UtidtU
progr «s
outstanding Seût1 30**1 a«ß B j8 t * f
Mai“ e*J P » company had- ..otes
have b e Ä Ä w s ° '
’ am0UIltin* to $9¿0,000. Earnings, etc..
1884-85.
1885-86.
Total inoome
<pi,0 Jo,oot)
Operating expenses
3,ls4,470
Net income___
$1,4 43,916
-disbursements—
i axes...
$170,175
71 ,b 8
Interest.'.................................
253,084
Total disbursemen
$1,111,828
Balance_
_
$ ? 0 :,0 -7
Dividends, 6 p ercen t............. .................. $284,976
290,183
Surplus............
$11,954
-(V . 4k, p. 60, 782; V.'43,'p. 190,............... 7 7$33,825 p.
174, 579,
3 ; V. 44,
5«




? rmd i o r ME ld r e d & C u b a .—Owns from Eldred, Pa., to BoUvar
and WellsviUe, N. Y., and branch to Richburg, and Cuba to Little
^«mesee, 54 mu6s. Stock, $480,000. There are also 2d mortgage bonds
for $60,003, 6S, which were due June 1, 1885. Foreclosure suit begun
m February, 188o. Th > C. Platt appointed reoeiver in Oot., 1885, and
s.
223 ^rtidoMes authorized. Gross earnings in 1834-85, $42,856*
d«f $l,39J; def. under interest, taxes, etc., $36,010; gross in 1883-84.
$96.394; deficit, $7,602. Total deficit to Sept. 30,1835, $85,479. R.
D. Taylor, President. (V. 41, p. 472; V. 42, p. 23, 60.)
V
B rooklyn E le v a t e d .—Line of road from Fulton Ferry and Brook­
lyn Bridge via Broadway, Ac., to East New York, about 7 miles. This
is the Brooklyn Elevated RaUro id organize l Oot., 1884, as successor t o
the Brooklyn Elevated Railway sold in foreclosure May 12,1884. The
capital stock is $5.000,000; the second mortgage bears 3 per coat interest
till 188 ^and 5 per cent thereafter.
Fo t le quarter ending D <o. 31, 1886, j r oss earnings were $151,030;
net, $5 <,773; deficiency under charges. 39,004.
m m
the annual report to State Co inmissioaer for year en ling Sept. 30,
4iave &ross earnings $513,480; net. $119,108; total payments,
$203,772; net deficit, $64,312. Henry W. Putnam, President.—(Y. 42,
p. 5 9 ; V. 43, p. 693; V. 44, p. 212.)
B roo k ly n Ac M o n ta n k .—Brooklyn to Eastport, L. I., 71 mUes ;
branches to Fresh Pond Junction, 2 mUes; to Rookaway, 9 miles ;
total, 82 mUes. This was first the South 8ide Railroad of Long
island, which was foreclosed Sept. 16, 1874, and reorganized as the
Southern of Long Island. On June 3,1879, the property was again sold
in foreclosure of the seoond mortgage, and this company organized,
rhe preferred stock has a preference of 7 per cent, not cumulative. It
is leased to the Long Island Railroad for 50 years at 25 per cent of the
aet earnings of the whole Long Island RR. system, including its leased
lines. No rental has been reported as paid, an l no public reports are
issued. Of the mortgage for $1,000,000. $750,000 is reserved to take up
the first mortg bonds in 1887; it is guaranteed by L. I. RR. as to in­
terest on $750,000. and both principal and interest on the $250,000.
Daniel Lord. President F. B. Lord, Secretary, New York City.

INYESTOßS’

2©

SUPPLEMENT.

[V ol XLIV.J |

Subscriber« w ill confer a great favor by givin g Im m ediate notice o f any error discovered in tbese Tables.
nonets—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
Par
of
For explanation of column headings, &c., see notes of
Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
Whom.
on first page of tables.
Dividend.
Bradford Bordell A Kinzua—1st mortgage.............
Bradford Eldred A Cuba—1st m ort..........................
Brooklyn Elevated—1st mort......................................
2d mortgage (for $1,250,000).................... : .........
Brooklyn A Montauk—
Stock ($1,100,000 is pref.) ..
South Side, 1st m ortgage........................................
B’klyn A M.-(Oont’d)-Ñevr M. ($1,000,000) ,gu.L.I.,g
Brunswick A Western—1st M., g., (for $2,500,000)..
Buff.Brad.A Pitts.—Gen.M.,(incl. 10,000 ao.I’d )....
Buffalo New York A Ene—Stock..............................
First mortgage..........................................................
Buffalo N. 1. A Philadelphia—
Stock, common.......
Stoch, preferred........................................................
1st mortgage, gold...................................................
2d mortgage, gold.....................................................
Consol, 1st mortgage, gold.......................................
Trust mort., gold (secured by collaterals).............
General mortgage (for $21,500,000).....................
Buff. Pitts.A W., M. bds(for $7,500,000cou p.)....
do
1st mort. (W. A F. R R .)...............
do
1st M.(OilCr.RR.) renew’d, ’82..
do
1st mort. (Un. A Titusv. RR.)___
do
Consol, mort. (Pitts. T. & B .). . . .
Inoome bonds for funded coupons..........................
Car trusts, principal and interest..........................
Buffalo Rochester A Pittsburg.—R. & P. 1st m ort...
R. & P. Consol, mortgage........................................
R. A P. Income mortgage.........................................
R. A P. Equipment bonds (car trust) In 3 series...
Buffalo A Southwestern.—
Stock, (one-half of it pref.)
1st mortgage bonds, g o ld ........................................
Burlington O. Rapids ANor them—Stock..................

41
54
6-9
6-9
82
54
85
171
26
142
140
634
634
121
121
205
All.
261
57
38
25
120
108
258
67
67
713

1882
1881
1884
1885

$500
$498,000
1,000
500,000
1,000
3,500,000
1,000
1,250,000
100
2,000,000
1867 500 &c.
750,000
1881
1,000
250,000
1883 500&0.
2,000,000
1,000
580,000
100
950,000
1876
1,000
2,380,000
50 13,750,000
50
6,570,650
1871 500 Ao.
3,000,000
1878 500 &c.
1,000.000
1881
1,000
6,999,000
1882
1,000
2,748,000
1884
1,000
1,700,000
1,000
1881
4,061,000
1,000
1,500,000
1865
1862
573,000
1,000
1870 500 Ac.
500,000
1876 100 &o.
866,000
622,625
1,628,015
1,000
1881
1,300,000
1882
1,000
2, 121,000
1,000
1881
478,000
Var’s 1,000
834,000
943,666
1,000
1,500,000
1877
100
5,500,000
....

B ru n sw ic k Sc W e ste rn .—From Brunswick to Albany, 171 miles,
and 83 miles projected to Columbus, Ga. This was formerly the Bruns­
wick A Albany, and the present company has $3,500,000 pref. stock,
and $1,500,000 common. Mr. Fred. Wolffe in New York and a syndi­
cate in Frankfort were most heavily interested. Gross earnings in 1886,
$326,216; net, $46,819. In 1885, gross, $283,129; net, $20,719. E.
W. Kinsley, President, N. Y. City.
B u ffalo B radford Sc P ittsbu rg.—Owns from Carrollton, N. Y.
to Gilesville, Pa., 26 miles. Completed in 1866, and leased to New
York Lake Erie A Western for 499 years. Rental, 7 per cent on out­
standing bonds, $40,600 a year. Capital stock, $2,286,400.
B u ffalo N ew h o rk Sc B rie.—Owns from Buffalo, N. Y., to Cor­
ning, N. Y., 142 miles. Leased in 1863 to the New York & Erie for
400years, and now operated by the N. Y. Lake Erie A West. Co. Rental,
$238,100—
-viz., 7 per cent on stock and bonds and $5,000 for organiza­
tion expenses. Dividends and interest paid directly by the lessees.
B u ffalo New York: Sc P h ila d elp h ia.—A consolidation in
February, 1883, of the Buffalo N. Y. & Philadelphia, the Buffalo PittsLarabees, Pa., to Clermont, Pa., 22; Pittsburg Division—Buffalo, N. Y.,
to Oil City, Pa., 138; Titusville, Pa., to Pioneer. Pa., 9; Mayville, N. Y.,
to Chautauqua, N. Y., 31 Oil City to New Castle, Pa., 182; Tryonville
«;
to Union City, 16 miles. Rochester Division—Rochester, N. Y., to Hins­
dale, N. Y., 99; Olean, N. Y., to Bradford, Pa., 26; Bradford, Pa., to
Kinzua, Pa., 26; Eldred to Tarport, 18 miles; Genessee Valley Ter. RR.,
2 miles; total operated, 663 miles, of which 40 miles are leased. The
Swain’s Br., 11 miles, owned by B. N. Y. & P., is leased to L. & P. RR.
The trust bonds of 1923 are secured by $500,000 first mort. bonds of the
Genessee Valley Terminal Co., $700,000 of the first mort. bonds of the
Olean A Salamanca RR., $1,600,000 first mort. bonds of the Oil City &
Chicago RR. and $300,000 mort. bonds of the No. West. Coal & Iron Co.
In 1884 the earnings proved insufficient to meet interest, and after
trying a plan which was not successful, a receiver was subsequently
appointed and foreclosure suits were begun.
In Feb., 1886, another plan was issued (see C h r o n ic l e , V. 42, p. 242)
by which foreclosure would be made and $ 10,000,000 new first mortg.
bonds issued, of whloh $6,073,000 would be reserved for the several
issues of old first mortgages, and the B. N. Y. A P. 2d mortg., the bal­
ance for re-organization expenses and for future use. A 2d mortg. for
$20,000,000, interest payable in cash, or in cash and scrip, to be issued
for all other bonds on certain terms; and $30,000,000 to be the author­
ized issue of new common stock. The old stock to pay an assessment
of 8 per cent on the preferred and 12 per cent on the common, each
receiving the new 2d mortg. bonds for the assessment paid, and share
for share in the new stook. This plan was backed by a strong oommltte and received the assent of a large majority of bondholders. Fore­
closure proceedings were begun in July, 1886.—See V. 43, p. 48.
The annual report for the year ending Sept. 30, ’86, was in the Chron­
icle , V. 44, p. 89, and contained the following income account.
Receipts—
1883-84.
1884--5.
1885-86.
Gross earnings........................... $2,614,774
$2,335,514
$2,568,217
$154,847
$373,007
Net earnings........... ............... $526,933
Rentals and interest.................
42,300
57,924
55,853
Total income......................

$569,233

$512,771

$428,860

Interest on bonds, pd. & unpd. $1,275,935
Other interest, Ao...................
130,751

$1,413,500
342,783

$1,410,380
206,234

Total disbursements........$1,406,686
$1,756,283
$1,616,614
Balance....................................def.837,453 def. 1,243,512 def. 1,187,751
For the quarter ending Deo. 31 gross earnings were $630,862, against
656,208 in 1885; net, $40,246, against $177,7 ol; deficit under charges,
$39,811, against deficit of $382.
—(V. 43, p. 48,73,102,131,190,244, 367, 546,|608.634, 635, 774; V. 44,
p. 8 9 ,184, 210, 276.)
B u ffalo R ochester Sc P ittsb u rg.—Owns from Rochester, N. Y.,
southward to Pa. State Line, 120 miles; Buffalo Branch from Ashford
Juno, to Buffalo, 46 miles; other branches, 9 miles; total, 175 miles.
The Pitts. A State Line (the Penn. Co.) operates all the road in Pennsyl­
vania formerly operated by the R. A P.
This company was formed in Oct., 1885, as successor of the Rochester
& Pittsburg, sold in foreclosure Oct. 16 and purchased by Mr. A. Iselin.
That portion of the road lying in Pennsylvania was known as the Pitts.
A State Line RR. Co. (stock, $l,200,0u0), and $1,560,000 of the R. & P.
consol, bonds are assumed by the P. & S. L. Co. The consolidation of
the companies in New York and Pennsylvania was to have been made,
but an iqjunotion was issued by which it was delayed till March, 1887.
A plain statement of the status of the company was given in the C h r o n i ­
c l e of Oct. 2,1886, on page 398. The bonds of the Co., if issued accord­
ing to the proposed reorganization plan, will stand as above.
The preferred stock of the new consolidated company is to be $6,000,000 (entitled to 6 per cent), and common stock, $6,000.000.
For the quarter ending Dec. 31, gross earnings were $394,189 in 1886,
against $344,285 in 1885; net, $120,060, against $102,883; surplus over
interest, taxes and rentals, $32,083, against def. of $5,351 in 1885.
The income aocount of the R. & P. for the years ending Sept. 30 were as
follows:




D. Bradf’d,Pa., Co.’s Office
J. Last paid July, 1884.
O. N. Y., Cent. Trust Co.
J.
do

June
Jan.
Oct.
July

1,
1,
1,
1,

1932
1932
1923
1915

7
6 g.
5 g.
7
31«
7

M. & 8. N.Y., Corbin Bank’g Co.
M. & 8. N. Y., Corbin Banx’g Co.
J. & J.
None ever paid.
J. & J. N. Y. L. Erie A W. RR.
J. & D. N. Y. L. Erie A W. RR.
J. & D.
do
* do

Mar.
Mar.
Jan.
Jan.
Dec.
Dec.

1.
1,
1,
1,
1,
1,

1887
1 9 ii
1913
1896
1886
1916

11«
6 g.
7 g.
6 g6 g.
6 g.
6 g.
7
6
7
7

Q .-M .
J. & J.
Q.—M.
J. & J.
M. & N.
M. & S.
A. & O.
F. & A.
A. A O.
J. & J.
F. & A.

Dec. 26,1883
July 1, 1896
Dec. 1, 1908
July 1, 1921
May, 1, 1923
Mch. 1, 1924
April 1, 1921
Feb. 1, 1896
Apr. 1, 1912
July 2, 1890
Feb. 1, 1896

6
6
6
3-5

6
6
6
6
6 &7
2
6 g.

J.
J.
A.
J.

&
&
A
&

Phila.orN.Y.,Co.’sOfflce
Last paid, July, ’85.
Last paid, Sept., ’85.
i« paid in cash Jan., ’85
i« paid in cash Nov., ’84
1« paid in cash Mar., ’85
Lj paid in cash Apr., ’85
Aug.coup.pd.by Ph. A E.
Last paid, Oct., '85.
3 paid in cash Jan., ’85
3 paid in cash Feb., ’85

F. A A. N. Y., Union Trust Co.
do
do
J. A D.
do
do
Gallatin Bank.
Various
7. A J.

N. Y., 1st Nat. Bank.

Feb. 1, 1921
Deo. 1, 1922
1921
Various.
(?)
July 1, 1908

Receipts—
1881-5.
Gross earnings................................................$1,216,680
Net income (including miscellaneous)....... $336,707
Disbursements—
Interest...................................
348,272
Rental and miscellaneous............................
117,166

1885-6.
$1,299,362
$390,357
352,106
66,128

$465,438
$408,234
Balance................................................def. $128,731
def. $17,877
—(V. 43, p. 218, 369, 398, 579, 608, 634, 738; V. 44, p. 212, 309.)
Buffalo Sc Southw estern.—
Owns from Buffalo to Jamestown,
N. Y., 67 miles. Formerly the Buffalo & Jamestown; reorganized
in 1877, after foreclosure. In July, 1880, leased to New York Lake
Erie A Western for 99 vears—at 35 per cent of gross earnings, but
intereston bonds guaranteed. Rentalin 1884-85, $101,824. In January,
1885, the lessee made default in payment under the lease, and suit was
brought, but settlement was afterward reported and 2 per cent dividend
declared. (V. 40, p. 60.)
B u rlin g ton Cedar R apids Sc N orthern.—On Jan. 1 ,’86, oper­
ated from Burlington, Iowa to Albert Lea, Minn, (including 11 miles
leased), 253 miles; branches—Linn, la., to Postville, la., 94 miles; Mus­
catine, la , to Riverside, la., 31 miles; Vinton, la., to Holland, la., 48
miles; Iowa City to What Cheer and to Montezuma, 73 miles; Clinton
Division,81 miles; Deoorah Division, 23 miles; Iowa Falls Division,
387 miles; total operated, 990 miles. The former oompany was organ­
ized as the Burlington Cedar Rapids & Minn., June 30,1868. Defaulted
Nov. 1,1873. Property sold under foreoloure June 22,1876, and this
oompany was formed by the purchasers. In May, 1885, a decision was
obtained by the holders of old equipment and 2d mortgage bonds of
1874, in the case of Simmons against this oompany, holding those bonds
to be good against the road, and giving defendants the right to redeem
the property on payment of amount found to be due, whioh is about
$1,000,000. The case is still pending.
Bonds of the Cedar Rapids Iowa Falls A Northwestern road are en­
dorsed (endorsement is on the bonds); the 6 per cent bonds are redeem­
able at 105 after Oct. 1,1890. Of the 5 per cents $825,000 are reserved
to retire the 6 per cents. The company guarantees the above bonds
mentioned, and also guarantees $150,000 of Minneap. & St. Louis bonds.
In April, 1884, for the purpose of issuing additional bonds for exten­
sions, the limit of authorized capital stock was raised to $30.000,000.
The consolidated bonds are dated April 1,1884, and issued at $15,000 per
mile to build new road, and secured by first mortgage bonds on the
roads built, deposited with the trustee of this mortgage. The roads
thus built to Dec. 31,1865, were the Cedar Rapids & Clinton, 82 miles,
$1,200,000bonds; Chicago Decorah A Minnesota, 23 miles, $348,000
bonds; and the Cedar Rapids Iowa Falls & Northwestern, Minnesota and
Dakota Division, 386 miles, $3,063,000 bonds.
The annual report for 1885 as published in the C h r o n ic l e , V.
42, p. 662, said: “ No extensions have been made to your lines during
the year. The earnings, after paying operating expenses and interest
on bonds, have been expended in the general improvement of the prop­
erty and equipment, which is in first class condition to do the business
offered, and to compete successfully with other lines in the same territory.
For one month from Jan. 1 to Jan. 31, gross earnings were $220,208
in 1887, against $177,568 in 1886; net, $55,096 in 1887, against $18,426
in 1886.
In 1886 gross earnings were $2,933,309; net, $800,905.
For 1885 the annual report in V. 42, p. 662, gave net income, Ao.»
for four years as follow s:
FISCAL RESULTS.

Miles operated........
Earnings—
Passenger................
Freight............ ........
Mail, express, A c ....

1882.
713
$
639,506
2,092,679
63,497

1883.
713
$
654,746
2,117,949
90,859

1884.
990
$
6667922
2,024,175
105,362

1885.
990
$
691,174
2,284,542
117,797

Tot. gross earnings
Oper exp. and taxes

2,800,682
1,883,681

2,863,554
1,963,177

2,796,459
1,917,769

3,093,513
2,186,543

Net earnings............
P.o. op. ex. to earn’s.

917,001
67*25

895,377
68*7

878,690
68*5

903,970
70*77

Receipts—
Net earnings............
Other receipts.........

1882.
$
917,001
78,057

1884.
$
878.690
31,108

1885.
$
903,970
83,798

Total inoome.........
Disbursements—
Interest on debt.. . . .
Const’n A improvem’t
Equipment................
Other expenditures..

995,058

943,974

909,798

987,768

484,624
71,965
368,502
22,396

521,232
89,942
294,901
44,802

573,663
68,778
10,774
28,617

742,275
70,794
41,925
213,118

Tot. disbursem’ts
947,487
950,880
681.832
B alance................... sur. 47,571
def.6,906 sur. 227,966
- ( V . 42, p. 60, 6 6*1 V. 43, p. 516, 745; V. 44, p. 90,184.)

1,068,122
def.80,354

INCOME ACCOUNT.

1883.
$
895,378
48,596

M arch , 1887.]

KAILROAD STOCKS ANO

BONDS,

2 1

S u b sc rib e rs w ill confer a great favor by givin g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
of
For explanation of column headings, Ac., see notes
of
Par
Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Burlingt'n 0. Rap. dt yorthem —( Cont'd)—1st mort. 369 1876 $100Ac. $6,500,000
5
J. S D. N. Y., Central Trust Co. June 1, 1906
c
73 1879
Iowa City A western, 1st mortgage, gold, guar..
1,000
584,000
7 g. M. & S.
do
do
Sept. 1, 1909
55 1880
Ced. Rap. I F.& N.W., 1st M., g., guar.,red.aft.’90
1,000
825,000
6 g. A. & O.
do
do
Oct. 1, 1920
do
1st M., gold, guar........................
177 1881
1.000
1,905,000
5 g . A. & 0.
do
do
Oct. 1. 1921
Consol. 1st mort. A collat. trust, gold, coup. & reg. All 1884 l,000&o
5,000,000
5 g. A. S O.
c
do
do
April 1,1934
Cairo Vincennes < Chic. -1 st M. bds., gold (Wabash) 271 1881
&
1,000
3,857,000
5 g. J. & J.
Last paid, Jan., ’84
Oct. 1, 1931
California Pacific—1st mort., gold (ext’d’d at 4%). 114 1867
1.000
2,250,000
c
413 g. J. S J. N.Y., Eugene Kelly A Co Jan. 1, 1912
2d mort., end. by Cent. Pao..................................... 114 1871
1,000
1,600,000
6 g. J. & J. N.Y., So. Pao. RR. Office Jan. 1, 1891
3d, mort. guar.by Cal. Pao.($1,000,000are3s)... 114 1875
500
3.000,000
3 S 6 J. S J.
c
c
do
do
July, 1905
78
Camden d Atlantic—Stock ($880,650 of it pref.)—
....
50
1,258,050 3 on pref
Camden, Co.’s Offloe. Apr. 1, 1887
78 1853
1st mortgage (extended 20 years in 1873)............
1,000
490,000
7 g. J. & J. Phila., Farm. A M. B’k. Maroh, 1893
2d mortgage, extended in 1879............................... . . . . 1854
1,000
497,000
6
A. S O.
c
do
do
Oct. 1, 1904
Consol, mortgage (thirty years).............................
1881
1.000
350,000
6
J. & J.
do
do
July 1, 1911
31 1867 500Ao.
Camden & Burlington Co.—1st mortgage................
350,000
6
F. S A. Phila.. Penn. RR. Co.
c
1897
....
Canada Southern—Stock............................................. 404
100 15,000,000
F. & A. N. Y., Grand Cen. Dep. Feb. 5, 1887
1>4
1st mort., interest guar, by N. Y. C. A Hud. Riv.. 404 1878
1,000 13,858,441
5
J. S J. N. Y.. Union Trust Cd. Jan. 1, 1908
c
2d mortgage, coup, or reg........................................ 404 1883 l,000&o
5,100,000
5
M. & S.
do
do
Mar. 1, 1913
Canadian Pacific—Stock (guar- 3 p. o. div. till ’93). 4,346
....
100 65,000,000
lJfl F. A A. N. Y. Office. 59 Wall St. Feb. 17, 1887
....
Canada Central RR. 1st & 2d mort. bonds...........
•• •
•
....
1,823,333 5 S 6 Various
c
•
Montreal.
1899 A 1910
Quebeo Provinoe due on Q. M. O. & O. RR...........
•• • . . . .
•
3,500,000
....
5
A. A 0.
do
Land mortgage bonds, gold (redeemable at 110)..
1881 500 Ac.
3,612,500
5 g. A. & O. Montreal,N. Y. orLondon Oct. 1, 1931
1st mort. debent, sterling........................................ AÛ. 1885 SlOOAo 35.000,000
c
5 g. J. S J. London, Baring B. A Co. July 1, 1915
Cape Fear d Yadkin Valley—1st mortgage, gold___ 155 1886 $1,000
t
1,500;000
6 g J. & D N.Y., Farm. L.A Tr. Co. June 1,1916
Carolina Central—1st mortgage, gold, ooup. or reg. 242 1881
1,000
1,800,000
c
6 g- J. S J. N. Y., Farmers’L. A T.Co. A p r il!, 1920
2d mort., gold, income, reg., not cumulative........ 242 1881
1,000
1,200,000
6 g. J. S J.
c
New York, Office.
July 1, 1915
3d mort., gold, income, reg., not cumulative........ 158 1881
1,000
1,500,000
6 g. A. A O.
do
do
July 1, 1910
Carson <•Colorado—1st mortgage............................. 158 1881
£
1,000
2,250,000
6
J. S J.
c
July, i911
Second Division mort............................................... 43^ 1883
1,000
510,000
6
J. & J.
July 1,1913
Oatawissa—Common stock.........................................
98
50
1,159,500
Preferred stook ($2,200,000 is o il pref.)...............
98
....
50
3,200,000
313 M. & N. Philadelphia Co.’s offloe Nov. 18, 1886
1st mortgage.............................................................
1882
230,500
6
Phila., Phila. A Read.Co. Feb. 1, 1902
Mortgage bonds........................................................
93 1870 500 Ac.
1,300,000
7
F. S A.
c
do
do
Feb. 1, 1900
Cayuga d Susquehanna—Stock..................................
t
34
100
589.110
4*8 J. A J. New York. 44 South st. Jan. 1. 1886
Cairo Vincennes Sc C hicago.—Cairo to Tilton, III., 271 miles; was made with the Government, intended to discharge all the com­
branch, St. Franolsville to Vincennes, 8.; total, 279 miles. This was a pany’s obligations. The Canadian Pacific Railway Co., through Baring
consolidation of the Cairo & Vincennes, Danville & 8. W. and St. Franois- Bros., of London, sold the remaining$20,000,000 of bonds, the prooeeds
ville & Lawrence roads, forming the Cairo Division of the Wabash St. of which were applied to paying off a part of the indebtedness of the
Louis & Paoitto. The latter company issued its o wn bonds secured on company to the Government, while thebalance of $9,000,00u was liqui­
this road Io r $3,857,000, and after default the road was surrendered dated by transferring about seven million aores of land belonging to the
to the mortgage trustees, Messrs. A. J. Thomas and Charles E. Tracy, original grant of 25,000,000.
April 27, 1885. Foreclosure proceedings are pending, but are not
Of the land grant bonds there are outstanding only the above amount,
pressed, owing to a claim of Wabash not yet adjudicated. Receiver’s against which are deferred payments on lands sold, amounting to $1.certificates for $622,667 have been issued. For one month ending 579,708. The Government also holds $5,000,000 of land bonds, whioh
Jan. 31, 1887, gross earnings were $57,721, against $35,476 in 1886; are to be canceled ultimately, as the Government takes about 6,800,000
net, $10,376, against $4,501.
aores of land, and then the lands in possession of the oompany will be
In 1886 gross earnings were $658,813; net, $145,339. (V. 43, p. 479.) about 14,700,000 aores. The bonds are receivable for lands and may
California Pacific.—Owns from South Vallejo, Cal., to Sacramento, be drawn and paid off at 110. The directors elected In May, 1886, were
Cal., 61 miles; branches—Adelante to Calistoga, 35 miles; Doer’s to as follow s: Sir George Stephen, Bart.; William C. Van Horne, Donald A.
Knight’s Landing, 19 miles; total operated, 113 miles. Leased for 29 Smith, Richard B. Angus, Edmund B. Osier, Sandford Fleming, H. 8.
years, from July 1,1876, to Central Pac. Rental, $600,000 per annum, Northoote, H. S. Martinsen, W. L. Soott, George R. Harris, Levi P. Morton
and three fourths of net earnings when in excess of that amount. Cap­ and Riohard J. Cross.
Gross earnings for one month from Jan. 1, 1887, $643,493, against
ital stock, $12,000,000. In 1885, gross earnings, $932,399; net, $522,$500,358 in 1886; net, $21,503, against $46,381.
627. (V. 43, p. 514.)
In 1886 gross earnings were $10,Obi,802; net, $3,703,485.
Camden Sc A tlan tic.—Owns from Camden, N. J., to Atlantio
for 1885
published at length in the
City, 60 miles; Atlantio City to Longport, 7 miles; Phil. Marl. A V.The annual report followingwas a comparative statement Chronicle,
42, p. 633. The
is
of earning»
Mea. RR.; Haddonfield to Medford, 12 miles; total operated, 79 miles. and expenses for the last two years:
Pref. stook, entitled to 7 per cent if earned, and to as high as paid to com.
Earnings—
.
1884.
1885.
if more than 7. For one month from Jan. 1 gross earnings were $29,843
$2,859,222
in 1887, against $25,658 in 1886; clef. $8,452, against def. of $2,530. On Passengers....................................................$1,980,902
4,881,865
main line and branehes in 1885, gross earns, were $561,347; net. $134,- Freight.......................................................... 3,410,365
359.251
627,403
143; in 1886, gross, $599,090, net, $129,775; other income, $20,802, to­ Mails, express and miscellaneous..............
$8,368,493
Total.................................................... $5,750,521
tal. $150,578; deduct interest, rentals, &e., $98,968; surplus, $51,610.
Expenses............................................
4,558,630
5,143,276
See annual report for 1885, with income account, &o., in V. 42, p. 630.
$3,225,216
Net earnings....... - ................................. $1,191,890
Camden Sc B u rlin g ton C ounty.—Owns from Camden, N. J.,
to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount -(V . 43, p. 22, 48,162, 274,547, 671; V. 44, p. 59,184, 308, 343.)
Holly, 7 miles; total, 30 miles. Leased to Camden & Amboy Railroad
C a p e F e a r Sc Y a d k in V a lle y .—In operation from Greensboro, N.
Co., and now operated by the Pennsylvania Railroad Company, lessees
of United Railroad & Canal Company’s lines. Lease rental, $44,415, C., to Bennettsyille, 8. C., 155 miles. Road is further projected some
being 6 per cent on stook and bonds, and $500 for organization ex­ 250 miles additional, and is in oourse of construction by the North State
penses. Capital stock $381,925 and funded debt $350,000. Dividends Improvement Co., a corporation organized for the purpose. For one
month to Jan. 31, gross earnings were $20,713 in 1887, against $17,922
m January and July. Gross earnings in 1885, $199,979; net, $71,340.
in.1886; net, $10,314 against $9,769. In 1886 gross earnings were
Canada Southern.—Line of Road—Main line from International $227,223, net $111,540; in 1885, gross earnings $205,968, net $95,764.
Bridge to Windsor, Ont., 226 m.; branch, Amherstburg to Essex Centre,
C arolina Central.—Owns from Wilmington, N. G., to Shelby, N. O.,16 miles; Fort Erie Br., 17 miles; Oil Springs Br., 3 miles; St. Thomas, 242 miles. Formerly Wilmington Char. & Rutherford, chartered in
Ont., to Courtright, Ont., 63 miles; Erie & Niagara, 31; Sarnia Chatham & 1855. Succeeded by existing company after foreclosure May 3, 1873.
Erie, 7; Canada Southern Bridge & Ferry, 4 ; Toledo Canada Southern & Defaulted, and receiver placed in possession April 5,1876. Sold in fore­
Detroit, 56, and Michigan Midland & Canada, 15; total of all lines closure May 31, 1880, for $1,200,000.
In 1885-86, gross earnings.
operated, 436 miles, of which 105 miles are nominally owned by proprie­ $477,484; net, $151,752; in 1884-5, gross, $528,122; net, $71,721.;
tary companies under separate organizations.
Wilmington Bridge bonds, $275,000, at 7 per cent, are guaranteed by
The Canada Southern Railway Company was chartered in Canada this Co. and the Wil. Col. & Aug., and interest paid. The stook of $1,Feb. 28, 1868, and the main line opened Nov. 15, 1873. Default 200,000 was placed for five years from Nov. 1,1879, in the hands of the
was made, and a reorganization forming the existing company was reorg. committee, but is now all issued to 2d mortgage bondholders.
completed in 1878. Interest on the 1st mort. is guaranteed by the New
Carson Sc C olorado.—(3 foot gauge.)—From Mound House Nev., toYork Central Railroad Co. for 20 years; but the principal is not guaranteed. In Nov., 1882, a close contract was made with the Michigan Candelaria, Nev., 158 miles; Junction to Keeler, Cal., 141 miles;
total 299 miles. Road follows the valleys along eastern side of Sierra
. ?i r *or ^ ye“ ™ from Jan. 1,1883, providing for the operation
of the Canada Southern by the Michigan Central, also for the placing of Nevada Mountains and may eventually join Southern Pacific at Mojave.
the total earnings of both roads in a common treasury, out of which is to 8took, $6,380,040 authorized; $2,760,000 issued. Gross earnings in
be paid, first, the operating expenses of both roads; second, the fixed 1883, $441,994; net, $196,308. H. M. Yerington, Pres’t, Carson. Nev.
C ataw lssa.—Owns from Tamanend, Pa., to Williamsport, Pa., 94
charges of both; third, the division of the remainder between the two,
m the rate of two-thirds to the Michigan Central and one-third to the miles; branch, Summit Station to Silver Brook, 4 miles; total operated,
c
Canada Southern. For latest reports of earnings see Michigan Central. 98 miles. Leased from Nov. 1,1872, for 999 years to Philadelphia S
(V. 42, p. 22, 752; V. 43, p. 23; V. 44, p. 21.)
Reading. Rental, 30 per cent of gross earnings and $8,000 a year for
oompany expenses. Funded debt is also assumed by lessees. Seven per
Canadian Pacific.—(See Map.)—The whole road extends froi cent is guaranteed on the preferred stocks. (V. 43, p. 387.)
o SSF
to Vancouver on the Pacific coast in British Columbh
Cayuga Sc Susquehanna.—Owns from Susquehanna River to
z,aob mUes. There are branches and auxiliary lines owned of 80
miles (113 miles of this not completed Jan. 1,1886), and 629 miles o Ithaca, N. Y., 34 miles. Leased in perpetuity to Dela. Lack. & West, at
a rental of $54,600 a year. Dividends on capital, 9 per cent per annum.
leased lines, making the whole system 4,338 miles, of which 127 mile
Cedar F a lls Sc M in n esota.—Owns from Waterloo, la., to Minn.
b r e v e t ^finished °P Jan. 1,1886. ("See details in Chronicle, V. 42
State Line, 76 miles. Leased to Dubuque & Sioux City for 40 years
PT
ro»d was opened throughout the first of July, 1886.
1883, leases were made of the Ontario & Quebec system, in from January 1, 1867, at $1,500 per mile as a minimum and a con­
Í
foe Credit V alley Railway and Toronto Grey and Bruce, abou tingent of 35 per cent of gross earnings from $3,500 to $7,500 per mile
and of 30 per cent of any excess over $7,500 per mile. The Dub. S S. O.
c
^Vrv.?1
^681 1ad>with bridge facilities at Montreal.
1
f - f il !vC ? an. J
r 0,:?
y wa8 incorporated February 18, 1881, under a eharte (carrying this road) is leased to 111. Central till 1887, with option to the
(>mthe Dominion of Canada. The company had an important coi lessee of renewing. Capital stock, $1,586,500. All operations and
to its charter, receiving from the Government $25,000,000 in cas: earnings are included in Illinois Central reports. The minimum rental
2íLa ?2™*dy•ol®0 25.000,000 acres of land, all to be fit for settlement is $113,370 per annum. J. S. Kennedy, Pres’t, N. Y.
mOoa
also conveyed to the company, free of all cost, 71:
Central B ran ch U n ion Pacific.—(See Map Mo. Pac.)—Owns from
frÍT 8
™
,The company also acquired 449 miles of road and branche
Atchison, Kan., to Waterville, Kan., 100 miles; leased Atchison Col S
c
those roads631 We8t t0 Callendar>subject to $5,423,333 in liens o; Pac. 254 miles ; Atch. J. Co. & W., 34 miles; total operated, 388 miles.
The Un. Pac. Cent. Branch was formerly the Atchison & Pike’s Peak RR.,
i ™ ^ ™ tllorizeii 8t00k was $100,000,000, andin Nov., 1883, theDomir and was one of the roads embraced in the act of Congress incorporating
fnr M®vernment gave a guarantee of 3 per cent dividends per annur the Union Pacific RR. The stock is $1,000,000, o f which the Union
°-n - *65,000,000 of the stock outstanding. InFebruarj Pacific holds about $858,700. The company received a Government
the
modldcd its agreements and loanei subsidy of $1,600,000. Default on interest was made May 1,1873, but
the e n r ia r ,/ ^ ’5? <
?’0^ ’ taking a lien upon the railroad and lands o no foreclosure took place. It is operated as a part of the Missouri Paoiflo
f oar t o^w^y,’J t o the pnorliens, In May, 1885, a further modi system under a 25 years lease, made Sept., 1885, by which the net earn­
s t n « w Z as mad,e ? y which that lien was given up, and the $35,000,00' ings are paid to Union Paciflo as rental. In 1886 paid dividends of 16
d mortgage bonds for $35,000,000 created. Th per cent. In 1884 gross earnings were $1,715,145; net, $594,171. For
and ffS1 a
?!?
^
° f these for its loans as part security 1885 gross earnings were *1,855,840; net, $591,000; total fixed charges,.
onlvto th«innsaí í e
$9>880j912 held a lien on the lands (subjec $513,136; surplus, $98,333. In October, 1885,5 per cent dividend paid’.
y to the land grant bonds). But in April, 1886, a further settlemen —(V. 42, p. 350.)
•' -y
V




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M a r c h , 1887. J

RAILROAD STOCKS AND BONDS.

33

Subscriber» w ill confer a great favor by giving Im m ediate notice of any error discovered In these Tables.
DESCRIPTION.
Bonds—Prrnol
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &c., see notes of
of
par Outstanding Rate per When Where payable, and by Stock»—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
whom.
Dividend.
Cedar Falls <t Minn.—Bonds on 2d dlv.. sink. f’d . . .
61 1866 $500<feo. $1,377,000
J. & J. N. Y., J. Ken. Tod & Co. Jan. 2, 1907
7
Central Branch Union Pacific—1st mort., g o ld _
_
100 1866
1,000
1,600,000
6
M. & N. N. Y., 195 Broadway. May 1, 1895
Funded interest bonds (coupons held in trust). .. . . . . 1879
1,000
630,000
do
do
7 g- M. & N.
May 1, 1895
100 ’66-7-8 1.000
2d mort. (Government subsidy)..............................
1,600,000
6
U.S. Treas., at maturity. 1896/97, ’98
Central R. R. < Bank, 6a.—Stock........................... 730
&
....
100
7,500,000
4
J. & D.
Savannah. Ga.
Dec. 20,1886
General mort. “ tripartite” bonds, coup................. 620 1872
1,000
5,000,000
J. & J. N.Y.Nat.City Bk.,&Sav. Jan. 1. 1893
7
Certificates of debt (for dividend).......................... . . . . 1881
100
4,600,000
6
J. & J.
Savannah, Ga.
1891
Ocean SS. Co., guar., 1st mortgage........................
•• • . . . .
•
....
987,000
6
J. & J.
New York.
Jan. 1, 1892
Central Iowa—1st mortgage....................................... 189 1879 500&0.
3,700,000
7
J. & J. Last paid July, 1886.
July 15,1899
Debt certificates, issued for overdue coupons___ ___ 1880 500 &c.
629,000
A. & O. No interest ever paid. 3 mos. notloe.
7
1st mortgage, gold, Eastern Division...................
1,000
124 1882
619,000
6 g- A. & 0. Last paid April, 1884 April 1, 1912
UL Division, 1st mortgage ($16,000 p. m ) ..........
1,000
89 1882
612,000
6
A. & 0. Last paid April, 1884
1924
1st mort. on branches ($12,000 per mile)..............
1,000
97 1882
127,000
6
A. & O. Last paid April, 1884
1912
Consolidated mort., gold (for $6,748,000)............. 499 1884
1,000
4,430,000
6 g. J. & D. *« coups, pd. to June,’88 June 1,1924
....
....
Car trust certificates................................................ . . . .
508,000
6
. ...
....
Central Bassachusetts—Stock ($3,852,088 is pref.).
44
7,245,988
Mortgage bonds (for $3,000,000)...........................
....
44 1886
5
(?)
....
Central o f New Jersey—Stock................................... 573
100 18,563,200
11«
1st mortgage bonds..................................................
1,000
74 1869
5,000,000
F. & A. New York, at Office.
7
1890
Bonds (convertible Nov., 1875 to 1877)................ . . . . 1872
1,000
4,400,000
M. & N. Last paid May, 1886
7
Nov., 1902
1,000 15,000,000
Consolidated mortgage (for $25,000,000).............
97 1874
7
Q.—J.
Last paid April, 1886 July 1. 1899
Newark & New York. 1st mortgage.......................
7 1867 500 &o.
600,000
7
J. & J. New York, at Oflioe.
1887
Am. Dock & Imp.Co. new M. bds., guar. 0. of N. J. . . . . 1881
1,000
5,000,000
5
J. * J. Last paid July, 1886 July 1, 1921
Adjustment mort. (redeemable any time at par).. . . . . 1878 100 &o.
5,454,000
M. & N. Last paid May, 1886
7
May 1, 1903
Debenture bds., conv. into stock till 1907............. . . . . 1883
1,000
5,000,000
6
M. & N. Last paid Nov., 1884
M a y l, 1908
50
Central Ohio—($411,550 of this is preferred).......... 137
....
2,859,300
3
J. & J. Balt., at B. < O. office. Jan. 31,1887
&
1st mortgage bonds.................................................. 137
1,000
—
2,500,000
6
M. & S.
do
do
Sept., 1890
General mortgage (for $2,850,000).......................
(?)
iö o
Central Pacific—
Stock.......... ...................................... 3,003
....
59,275,500
3
F. & A. N. Y. & San Francisco. Feb. 1,1884
1st mort., gold, (2 sinking funds, $50,000 each).. 742 1865-8 1,000 25,883,000
6 g- J. & J.
New York, Offloe.
1895 to ’98
1,000
Califor. State aid, gold (s. fund, $50,000) extend.
50 1864
284,000
do
do
7 g. J. & J.
July 1, 1888
1,000
lstm.8. Joaq’n Val. Br., gld (s.f. $50.000)............. 146 1870
6,080,000
6 g. A & O.
do
do
Oct. 1, 1900
....
U. S. Loan, (2d lien on certain terms)................... 742
....
25,883,000
6
J. & J.
U. 8. Treasury.
1895 to ’98
Central o f G e o r g ia (<fc B a n k ).—
Owns from Savannah, Ga., to will. The 6 per cent convertible debenture bonds run positively till
Atlanta, Ga., 295 miles; branch, Gordon to Milledgeville, 17 miles; 1908, and were issued Oct., 1883, partly in exchange for the old lnoome
leased—Augusta & Savannah, 53 miles; Eatonton Branch Railroad, bonds; they bear interest positively, and not “ if earned.” On Feb. 1,
22 miles; Southwestern Railroad and branches, 343 miles; total opera­ 1885, the first default was made in payment of mortgage coupons.
ted, 730 miles; also takes net results of 170 miles more operated by
On June 1, 1883, the road was leased for 99 years to the Phila. <
fc
separate companies. In 1886 leased the Mobile & Girard RR., 84 miles, Reading RR. Co. at 6 per cent on stock and interest on bonds, but a
from June 1. In 1881 the lease of the Georgia RR. for 99 years decision was rendered in Feb., 1886, holding this lease void and on Oct
was taken in the interest of this company and the Louisville & Nashville, 15,1886, Messrs. J. 8. Kennedy and Joseph a Harris were appointed re
which operate it on joint account. The certificates of debt were ceivers, in pursuance of a plan of reorganization, and afterwards gave
Issued, June, 1881, as a dividend to stockholders—$40 per share to Cen­ notice that they would resume possession from the lessee and operate
tral Georgia and $32 per share to Southwestern. The company owns a the rt ad from Jan. 1,1887. The oiroular relating to status of oompany
large interest in connecting lines and the Ooean Steamship Co. o1 and giving the floating liabilities (total, $2,687,700 was in V. 43, p. 514.1
Savannah. This company and the Georgia Railroad Company are joint
In the fiscal years ending Nov. 30, I884andl885, theP. &R. Co., lessee,
owners of the Western Railroad of Alabama, purchased at foreclosure reported gross receipts, net, fixed oharges, <fto., on this road as follow s:
sale in|April, 1875. The “ tri-partite” bonds were issued jointly by this „
.
^ 1883-4.
1884-5.
company, the Macon & Western and the Southwestern.
Gross earnings............................................ $10,441,095
$10,300,466
The annual report for the year ending August 31,1886, was in the Expenses...................................................
5,995,114
5,699,200
Chronicle, V. 43, p. 633. The income account was as follows:
1882-83.
1883-84.
1884-85.
1885-86.
Net earnings..................
$4,445,980
4,601,266
Gross income............ $4,977,807 $4,659,082 $3,911,407 $3,916,991 Less rents 5 Fixed charges
$4,806,420
4,825,851
Expenses................
2,950,115
2,851.455 2,211,615
1,922,057 loess rents f Divldend8 • m
1,113,792
1,113,792
Net income..........$2,027,692 $1,807,627 $1,699,792 $1,994,934
$5,920,212
$5,939,643
Int., rentals and div.. *1,982,517 1,848,491
1.776,369
1,913,842 ^ „ .
$1,338,377
Surplus...... .........
$45,175 Def.$40,864 Def.$76,577 Sur. 81,092 Deficit for the year...................................... $1.474,231
214, 303, 365, 393, 462,479,574, 727,782; V. 43,
* Dividend in 1882-83, 8 per cent; in 1883-84, 6; in 1884-5, 5 p. o.: in —(V. 42, p. 22, 186,367, 458, 514, 547, 671; V. 44, p. 21, 275, 362.) p
102,103, 131,190,
1886. 6 p. o.
-(V . 43. p. 607, 622, 6 3 3 ; V. 44, p. 59,184.)
Central O hio.—Owns from Bellaire, Ohio, to Columbus, Ohio
Central Io w a .—Owns from Albia, la., to Northwood, la., 189 137 miles. Chartered in 1847 and opened in 1854. Reorganized in
1865. Leased to the Baltimore & Ohio, for 20 years, Nov. 11, 1866;
miles; Grinnell & Montezuma Branoh, 13 miles; Storey City Br., 35
miles; Newberg branoh, 27 miles; Belmond branoh, 22 miles; total old rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was
road, 288 miles. Eastern Division to Mississippi River, 124 miles, and extended to Deo. 1,1926, with the option of renewing for terms of 20
Illinois Division to Peoria, 89 miles. Total, 499 miles. Bridge over years perpetually. It is proposed to issue a new mortgage of $2,850, Mississippi River at Keithsburg opened Dec., 1885. Chartered as 000 at 4*2 per cent, running till 1926, and present bondholders may ex­
Central RR. of Iowa and opened in 1871. Defaulted and plaoed in change their bonds due 1890 for the new bonds; the B. & O. Company
hands of a receiver in 1874. Reorganized under present title June 18. receives $1,000,0C0 of these bond for improvements on the Cent. Ohio,
1866-86. In 1883-84 gross earnings, $1,169,773; net, $376,638; rental.
1879, after foreclosure sale under first mortgage July 18,1877.
The stock is $8,076,600 common; 1st preferred, $871,500, and 2d pre­ $409,420. In 1884-85 gross earnings $1,060,166; net, $295,856;
ferred, $1,078,300. First preferred has prior right to 7 per cent rental, $371,058; loss for year, $75,202. The road between Newark &
(non-cumulative); then 2d preferred entitled to 7 per cent; any surplus, Columbus (33 miles) is owned jointly with the Pittsb. Cin. & St. Louis
after payment of 7 on common stock, to be divided pro rata between RR. Co. (V. 43, p. 102.)
Central P a c if ic .—(See Map o f Southern Pacific.)—Line of Road —
the three classes.
In Oct., 1884, default was made in payment of interest. In October, —Main line—San Francisco, CaL, to Ogden,Utah, 883 miles, and auxil­
iary lines, 371; total, 1,252 miles; oper. under lease or contraot; Cal.
1885, a plan was brought forward, by which bonds would be funded
by Central Trust Co. into consols, dollar for dollar, and coupons to be Pac., 115, North. RR., 154, others, 128: total, 397 miles; total length of
funded to June 1, 1886, inclusive, into said consol, bonds at 75, and the road operated and accounted for Jan. 1,1886,1,650 miles. The So. Pao.
coupons of new oonsols stamped “ one-half paid ” up to June, i 888, in­ in Cal., Arizona and New Mexico, 1,108 miles, formerly accounted for
clusive, the other half to be paid in cash as it falls due. Mr. A. B. Stiok- by the Central Pacifio, are leased to the Southern Pacific Co., and ac­
ney is the President, and in November he made a report giving the counted for by that Co. In connection with the Union Pacific, the
result of his investigation into the company’s affairs and advising a Central Pacific forms a continuous line from San Francisco, Cal., to
receivership and reduction of interest on the first mortg. bonds.—(See Council Bluffs, la. (1,918 miles), whioh was opened May 10,1869. The
Cal. & Oregon line is being extended northward to a junction with
V. 43, p.634.)
Oregon & Cal. at the State line
In Deo., 18«6, Mr. Ethelbert L. Dudley was appointed receiver.
In March, 1885, the Central Pacific lines were leased to the Southern
The fiscal year ends Dec. 31. The income account was as follow s:
Pacific Oompany, and the previous lease of the Southern Paoifio Railroad
INCOME ACCOUNT.
to Cent! Pacific was relinguished to the same company, The Cent. Pacifio
receives all its net surplus income above annual oharges of every sort and
1883.
1884.
1885.
Gross earrings.
$1,392,587
$1,448.259
$1,307.371 betterments, and a minimum rental of $ 1,200,000 and a maximum of
Net earnings...
$473,046
$409.800
$323.894 $3,600,000 (payable annually on May 1), is provided for by the lease,
Deduct—
but this rental is first applicable to the payment of Central Pacifio
Interest on b o n d s ___
$331,000
$421,795
$513,880 floating debt, if any; and when the first year’s rental fell due in May,
Interest on car trusts
35,835
30,600
30,948 1886, no dividend was declared. One effeot of the lease was to fix the
Miscellaneous.............
8,870
14,603
18,859 control of Central Pacifio without regard to ownership of the stock. (See
abstract of lease, V. 40, p. 480.)
T h e Ch a r t e r , L e a s e s , &c.—The C. P. was a consolidation (Aug. 22.
.............................„
$<¿75,705
$466,998
$563,68
1870) of the Central Pacific (organized Oct. 8, 1864), California &
V Sur‘ $97>
341 Dei- $57,198 Def. $239,79
Oregon, San Francisco & Oakland, San Francisco & Alameda and San
—(V 42, p. 271, 752; Y. 43, p. 2 1 6 , 458, 634, 671; V. 44, p. 117, 211.)
M a s s a c h u s e tts .—This company was organized Nov Joaquin Valley railroads. The act of Congress of July 1, 1862, granted
io, 1883, by the bondholders who purchased the Massachusetts Centra U. S. bond subsidies and lands to the Pacino railroads; the act of July,
1864, made
to
iLriir60108^ 6 8al® Sept. 1, 1883. Road completed from ( ambridge t gage bonds, the lien of the Government subjectto that of the first mort­
but authorized the
withhold one-half the
T a88;’ -44J?1
^
*!?8- *n. S®Pt,, 1886, a lease was made to th oharges for transportation on its Government also to receive 5 per cent
account, and
noston & Lowell for the term of 99 years on the basis of a rental of 2
<
earnings; the “ Thurman” act of
° i gr088 ea: ning8 up to $1,000,000, and 25 per cen t on earning of the net one-half of charges for GovernmentMay 8,1878, directed that
the other
transportation should be
tereJt!“ v* 4 T p U274!367,i508, 5 7 ™ ^ ® ° £ 8ufflcient rental to W & withheld, and also that the company should pav $1,200,000 yearly to
the Government for the sinking rund of its debt or as much thereof as
li™hnrJ,aw0 TN^ r J e rs e y .-O w n s from Jersey City.N. J., to Phi
shall make the 5 per oent of net earnings, plus the whole transportation
npsDurg, N. J., 73 miles; branches, 30 miles; leased and operate*
account, equal 25 per oent of the whole net earnings for the year. The
wemtM
-?69 ^ es> , n(J in Pennsylvania, 201 miles; tot*
a
leases are numerous and mostly for short dates, and the terms of each
JL
73J ^ e8- i he P ^ d u a l leased lines in Pennsylvania a:
in brief were stated in the Ch r o n ic l e , Y. 37, p. 47.
th£lrH^gi L & Su^uehamia and the Lehigh & Lackawanna, wit
An agreement for consolidation with Ore. & Cal. RR. b y an exchange
the
, Under the lease of 1883 to Philadelphia & Readin
of stock nas b e e n made. (See O. & C. in this S u p p l e m e n t .)
aSsni?1 U1 rental of Lehigh & Susquehanna is $1,414,400 per ye*
™ 11
S t o c k a n d B o n d s .— Prior to the current year the following dividends
were paid, viz.: In 1877, 8 per cent; 1880, 6 per cen t; 1881, 6 ; 1882, 6 ;
a ^ r T h ^ ^ n i l ^ ? 8’? 00^ ^ 1888> J*en $1,885!800 till 18937an
1883, 6 ; in 1884, 3 ; in 1885, nil. Prices of stock since 1879 have been:
the hands
Itt; FWT ,2 2 }
the ProPerty was placed i
a receiver. A majority of the Lehigh & Wilkesbarre Coj In 1880,63®97ia; in 1881. 80ia®102’ 8; in 1882,8238®97*8; in 1883;
61®88; in 1884, 30®673i; in 1885, 26i«®49; in 1886, 33®51; in 1887,
$ l T f f i & > 8V 2 ? J ? ^
m
by>,Centr^
Ne^ Jersey, ^ d of
ty
Wilkesbarre Coal bonds, $6,116,000 are hel to Jan. 19, 33 <*41* Most of the issues of bonds have sinking funds,
4.
are satiRflAd0*
and receive interest after all other bond as seen in the table above, but these sinking funds are invested mainly
tuallv ow ^ d ^
American Dock & Improvement Company is vii in the bonds of other Huntington lines and accumulate; the bonds
the railroad company, and the rieht exists t are not called in. The sinking funds amounted Jan. 1,1886, to $8,2~6,p o ase the bonds by lot at 110. The adjustment bonds are payable a 076. The land grant bonds are retired with proceeds of land sales.




(

t

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SUPPLEMENT.

[V o l , X L I V .

Subscriber« w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Table«.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due
Miles Date Size, or
Amount Rate per When
Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Central Pacific—(Oontlnued)
great. P a c, 1st m., gold, (incl. $111,000 reserved)
W est Pac., Government lien..............
rial gi, Oregon, 1st M., gold, guar., (8. f. $100,000)
Cent. Pac., mortgage, on C. & O. Branch...............
Ban Fran. O. & A., 1st M. (s. f. $100,000).............
Land grant 1st mortgage bonds---------------- Land grant 2d mortgage b o n d s .......................
Income bds. ($6,000,000), skg.fd.,10
Charleston dt Savannah—Gen. mort. for $1,500,000.
Charlotte Columbia dt Augusta—1st mort. consol...
2d Mortgage................ .............................................
Columbia & Augusta 1st mortgage. .......................
Consol, mortg., gold (for $3,000,600).....................
Chartiers—1st mortgage.............. —
Chesapeake dt OMo—Purch. money funding bonds...
1st mortgage, gold, series “ A” ................................
do
do
do “ B” ................................
do
do
do ext’d at 4 per c t ..........
do
fundingserip...................................
2d mortgage, cur. (interest in stock or ca sh )......
1st mortgage, gold, of 1911, Peninsula Extension
1st mort., goldfof ¿922 on exten. (for $3,000,000)
Equipment trust bonds. . . . . . . . . . . . . . . . . ----- - - - - •
Ches. Ohio dt Southwest.—1st Id., gold ($19,000 p. m
2d mortgage ($11,000 per m ile).......... .............
Paducah & Elizabethan, 1st M. ($300,000 are 8s)
Equipment trust bonds for $2,000,000..................
Cheshire—Stock, preferred........................................
Bonds, not mortgage................................................
Chicago dt Alton—Common stock..............................
Preferred st’ok (7 p. c. y’rly not cumulative).......
General mortgage, sterling, for £900,000

158
123
152
192
20

1869 $1,000
1869
1,000
1868
1,000
1872
1,000
1870
1,000
1870
1,000
1,000
1878

191
191

1869 500 &c.
1,000
1872
1865
1,000
1883
1,000
1871
1,000
1878
1,000
1878
1878 100 &c.

23
428
503
428

10Ö&C.
1,000
1,000
1,000
1,000
353
1,000
351
1,000
186
1,000
100
64
’76-’78 500 &o.
100
850
100
850
1.000
322 1873

428
75

1878
1881
1882
Var.
1881
1881
1877
1882

$2.624,000
1,970,000
6,000,000
3,680,000
687,000
4,630,000
5,000,000
3.285,000
1,081,000
2,000,000
500,000
189,500
Nil.
500,000
2,282,000
2,000,000
14,974,210
(1)
800,401
10.106,429
2.000,000
142,000
1,177,000
6,070,000
2,767,400
500,000
668,000
2,100,000
800.000
14,110,800
3,479,500
4.379,850

6 g.
6
6 g.
6 g.
8
6 g.
....
8 g.
7
7
7
7
6 g.
7
6 g.
6 g.
6 g.
4 g.
•• •
•
6
6 g.
6 g.
_ 6
5-6 g.
6
6 &8
6
3
6
2
2
6 g.

July 1, 1899
New York, Office.
J. & J.
1899
U. 8. Treasury.
....
Jan. 1, 1888
New York, Office.
& J.
Jan. 1, 1892
& J. New York & London.
S J. N. Y., Cent. Pac. Office, July 1, 1890
c
Oct. 1, 1890
do
do
S O.
c
....
May, ’84 t o ’ 88
M. S N. N. Y. and San Fran.
c
J. & J. Charleston & New York. Jan. 1, 1936
J. & J. N. Y., Nat. Park Bank, Jan. 1, 1895
Jan. 1, 1910
do
do
A. < O.
fc
Jan. 1, 1890
do
do
J. & J.
July 1, 1933
New York Agency.
J. S J.
c
A. & O. Philadelphia, Penn R.R Oct. 1, 1901
J. & J. N. Y., Company’s office July 1, 1898
July 1, 1908
do
do
A. S O.
c
M. & N. *2Nov. coup. pd. in scrip I July 1, 1908
1986
M. & N. N.Y., Company’s Office.]
....
July 1, 1918
J. S J. N. Y. Company’s Office,
c
Jan. 1, 1911
do
do
A. & O.
June 1, 1922
do
do
J. S D.
c
Various.
do
do
Various
F. & A. N. Y., 52 Exch’ge Place, Feb. 1, 1911
Feb. 1, 1911
do
do
F. & A.
Feb. 1, 1897
do
do
F. S A.
c
Yearly to 1892
do
do
J. & J.
Jan. 1,1887
J. S J. Keene, N. H., Office.
c
|j. & J. Boston, Bost. Nat. Bk. July 1,’96&’98
1Q .-M . N. Y., John Paton & Co. March 1,1887
March 1,1887
do
do
Q .-M .
IJ. & J Lond’n,J.8.Morgan&Co. July 1, 190 3

J.
J.
J.
A.

elevator, but m case of paying them
M
California & Oregon companies was about 12,000,000 acres In 1885^ for a grain interest charge per year in cash is $1,279,260. From May,
,
,
The full
— äa a v a -------— ,— aa lands sold. Cash and land contract*
.
$499J)50~wai received*forìnm^a ai,1u Cash and land contracts on hand 1885, the company paid in cash one-half of the coupon falling due,
and the same in Nov., 1885 and 1836, but paid only one-third in cash in
O p e r a t io n s , F in a n c e s , <fec.—The Central Pacific Railroad had a striot
1886—the balanoe of each coupon was
■...
monopoly of business in the territory oooupied by it, and for many years May,August, 1886, Mr. Huntington issued a paid in scrip.
In
that the
was able to control the traffic and make rates in that terrrtorj\ The “ B ” bonds should have interest reduced to 4ciroular proposingprincipal
per cent and the
Southern Pacific was afterwards built and was extended to New Or- extended to 1986, the holders receiving a bonus of 25 per cent in New­
leans, taking much of the through business. The C. P. stock after pay port News & Miss. Valley Co’s stock; the holders of currency bonds to
surrender their bonds in exchange for 125 per cent in said stock. (See
V. 43, p. 152, and 514.) Up to Jan. 10,1887, $2,693,900 bonds had asagainst $12.297^932 in 1885; neC$7,290 0£J against $7 029,211 in 8 Gross^earn!ugsPf o r m o n t h from Jan. 1,1887, $316,592, against
1885; surplus over interest, rentals, &c., in 18S6, $1,560,565.
T h e annual report for 1885 was in C h r o n ic l e , V. 42, p. 781, showing * S J & a i d l S S . ' X e K n f e 1883,1884,1885 . „ d 1886 :
the operations
the
results as below, the first table beinr tiu gagEtfUBA under the, lease Years
Gross Earnings. Op’g Expenses. Net Earn’gjL
from April 1 to Deo. 31.
$1,306,858
$2,599,933
1883 ...................................... $3,906,791
1,038,860
2,499,744
3,538,604
Miles operated........................1,650 Rentals leased lines— $1,083,414 1884
895,423
bonds Apr. 1 to
2,465.812
Gross earnings............ $11,369,484 Int. on 31....................... 2,644,024 1885 ....................................... 3,361,235
Deo.
1,228,065
2,867,983
1886
. . . . . . . . . . 4,096,048
Oper. expenses...........
4,721,558 Int. on floating debt...
100,920 - ( V 42'p.'60V112, 242, 303, 365. 393, 4 8 5 , 548, 575, 694; V. 43, p.
Sk. fd. aud U. 8. require­
152, 514,
V. 44, p. 90, 91, 344.)
Net earnings.......... $6,647,926
756,539 22, h e s a p e a 671, 746; Sc Southw estern.—Owns froin Elizabethtown
ments Apr. 1 to Deo.31
C
k e Ohio
9,470 Taxes and betterments.
Add other income... .
582,693 try. via Paducah, to Memphis, Tenn„ 352 miles; leased, Cecihan branch
7,774 of L. & N., 47 miles. Total operated, 398 miles. This road forms the
Net income.............. $6,657,396 Miscellaneous............... _
Total expenditures.. $5,175,36* western connection of the Chesapeake & Ohio and the Lexington & Big
Bai. due Cent. Pao. RR. Co. under the lease, April 1 to Deo. 31. $1.482,032 Sandv. In Feb., 1886, leased to the Newport News & Mississippi Valley
Company for fifty years. The company purchased the Memphis Paducah
Add net earnings for Jan., Feb. and March, 1885.................. 1,301,8
& Northern—Paducah to Memphis—ana the Paducah & Elizabethtown,
a ,1,1 dividends unii
Add /lìiri/l/ìiiilo and interest . ___________ ________
sublect to the $500,000 mortgage on the latter, and leased m perpetuity
Total net reoeipts................. - — - - .........- — v ; - - ; - - * : ®3’ ™QQin theCeeilian Branch of Louisville & Nashville, from Louisville to Cecilian
Deduct—Gen’l expenses, taxes and betterments prior to Ap. 1 729,940 Junction, for $60,000 per annum, with option of purchasing it for
Interest on floating debt prior to April 1.............................
q -R eva $1 000.000. The 1st mortgage bears 5 per cent till August, leev, ana
Interest on bonds prior to April 1 . . . .......-a ----aa^’i io 6 thereafter. Of the 2d mort. bonds $726,000 are ex-coupou to Aug.
Sinking funds and U. 8. requirements, paid by Cent. P ao...
847,112 1887. Stook—Common, $6,030.000, and preferred, $3,696.000.
Other charges................................................................... .
sad./^o
Gross earnings for one month, Jan. 1 to Jan. .31, were $145,600 in
1887, agaiust $117,265 in 1836; net, $52,583, against $31,081.
Total charges........................................................................
INCOME ACCOUNT.
Balance, surplus for year ........... .— . . . . . . . . . /os*
1886.
1885.
1884.
—(V. 42, p. 148, 364, 574, 754, 7 8 1 ; V. 43, p. 73, 217, 244, 745; V. 44,
Gross earnings................................. $1,571,155 $1,713,326 $656,291
^ C Iiarlestoii^& S a v a n n a h ,—Owns from Savannah, Ga., to Charles­
502,531
ton Junction, S. C., 104 miles; operates—Ashley River branches, 4 miles; Net earnings...... ...............................
634,920
b z i.is o
Charleston Junction to Charleston, 7 miles; total, 115 miles. This was Interest, rentals, taxes, &o..............
first the Chari. & Sav. R R .; reorganized in 1866 under name of Savan­
$132.389
.... ....
Balance deficit........................... $281,229
nah Sc Charleston, and opened March, 1870. Sold in foreclosure June —(V 42, p. 60, 124, 242, 365, 487, 518, 694; V. 44, p. 90, 204, 344.)
7.1880, and present company organized. Stock, $500,000. In addi­
C h e s h ir e .—Owns from South Ashburnham, Mass., to Bern* vs
tion to the gen. mort. bonds, there are $1,000,000 1st pref. incomes and Falls, Vt., 54 miles; leased, Monadnook Railroad, Wmoheudon to
$1.000.000 2d pref. incomes. Earnings, gross in 1885, $453,799; net, Peterboro, N H., 16 miles; and 10 miles Vermont & Mass; total 80
$85,216. In 1886, gross, $482,895; net, $72,418. H. B. Plant, Presi­ miles; but the Monadnock, 16 miles, is not included in the Cheshire
dent, New York.
earnings, leaving 64 miles operated. $51,000 rental paid to Vt. &
Charlotte C olum bia dc A u gu sta. — Owns from Charlotte, Mass, for leased portion of road. Capital stock—cominou, $53,300, and
N. C.. to Augusta, GaM 191 miles. Leases Atl. Term. & O. RR., preferred. $2,100,000. Gross reoeipts in 1884-85, $o61,203, net,
Charlotte to Statesville, 44 miles ; Cheraw & Chester, 29 miles; $213 856. In 1885-86, gross $628,012; net, $234,439 ; surplus over
and Chester & Lenoir, 109 miles. The Charlotte Col. & Aug. was a consoli­ interest, rentals and 5 per cent dividend on pref. stook $29,711, against
dation (July 9,1869) of the Charlotte & South Carolina and the Columbia $45,410 in 1884-85 over a 3 per cent dividend.
& Augusta. The road has been under the control and management of
C h ic a g o Sc A lto n . —L in e o p R o ad —Joliet to East St._ Louis
the Riohmond & Danville since 1878, and in May, 1836, was leased to (main), 244 miles; Branches—To Coal City, 30 miles; Dwight to
said company. None of the new consol, bonds had been issued to Jan. Washington & Lac’n, 80 miles; Roodhouse to Louisiana, 38^miles;
1886. Gross earnings in 1883-84, $627,854; net, $181,764; deficit after Upper Alton line, 8 miles. Total owned, 400 miles. Leased—Chioago
all interest and rentals, $74,684. In 1884-85, gross earnings, $826,967; to Joliet, 37 miles; Bloomington to Godfrey, 150 miles; Louisiana
net, $364,010; surplus over all charges, $99,385. Stock, $2,578,000.
to Cedar City, 101 miles; Kansas City to Mexico, 162 miles. Total
leased, 450 miles. Total operated, Dec. 31,1886, 849 miles.
—(V. 42, p. 2 1 ; V. 43, p. 718.)
O r g a n iz a t io n , L e a se s , St o c k s a n d B o n d s .—Chartered as the Chlo •
Chartiers.—Owns from Mansfield, Pa., to Washington, Fa., 23 m.
Sold under foreclosure, and reorganized in 1867. Leased for 99 years & Miss.. Feb. 27, 1847; reorganized under act of Jan. 21,1857, as
Ohio. Alton St. & Louis, and under act of Feb. 16, 1861, the present
from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; the
rental is net earnings. Gross earnings in 1884, $164,079; net earnings, corporation succeeded to the property, which was sold under fore­
$68,989; in 1885, gross earnings, $137.234; net, $45,556. Capital closure in the following year and transferred to new orgamzation in
October. 1862. Chicago and St. Louis were connected by tne present
stook, $647,850.
line in 1864. The annual meeting is held the first Monday in April.
Chesapeake & O h io.—(See Map).—Owns from Newport News, Va.,
The Joliet & Chicago is leased from January 1, 1864, for the
to Big Sandy River, W. Va., 503 miles; Newport News to Phoebus, 9 m.; term of its charter, and forms part of the mam Une. Rental, 7
total owned, 512 m.; operates only 503 m. Consolidation of Virginia per cent on stock.
The St. Louis Jacksonville S Chioago was
c
Central and Covington & Ohio, and opened through Maroh 1,1873. The leased in perpetuity from April 30, 1868, at a rental equal to 40 per
present company was organized in July, 1878, as successor of the Ohes. cent of gross earnings until the amount reached $700,000, with a iniui& O., which was sold under foreclosure April 2,1878. The Elizabeth­ muin of $240,000 a year, and the company m 1884 was merged wdth
town Lexington & Big Sandy Railroad connects on the west with the Chioago & Alton and its stook exchanged for C. & A. stock. (See V. 38,
C. & O., and extends to Lexington, Ky.
p 45!>d The Louisiana S Missouri River RR. is leased for 1,000 yoars
c
In June, 1886, this road was leased to the Newport News & Miss. Val­ from August 1,1870. Rental, 35 per cent of gross earnings, but inter­
ley RR. Co. for 250 years, the lease being an operating agreement with , est guaranteed on second mortgage bonds and preferred stock as
out obligation on the lessee to pay interest if earnings are deficient.
above; the other pref. stock is $1,010,000 and common $2,272/700,
The stocks including scrip outstanding were as follows in December, gross earnings in 1884, (less taxes) $665,902. The Kansas City St.
1886: Common. $15,496,854, preferred stook—first, $3,370,579; second. Louis & Chicago is leased to the Chicago & Alton company in perpetuity
$10,820,816. The second mortgage currency bonds till July, 1884, took from Nov. 1,1877. at a rental of 35 per cent of gross earnings, less taxes
interest in 2d pref. stook, then for two years take partly in that stock and andassessments. The bonds are held by U. 8. Trust Co. as security for
partly cash, aud afterwards all oash, if the earnings are sufficient, but
“ all interest not paid in cash to be paia in za orei. stock.- The holders theC. &
paid
2d preL stook.
not
xue mnuor«
(or their redemption? Should the 35 per
of first mortga
s
s
a
s
t . par
» „ d 7POT< »n .o «
are in default




EONDS
AND
STOCKS
KA1LR0 AD
Makch . 1887. J




INVESTORS’

20

SUPPLEMENT.

[ 7 ol . X IIV .

Subscribers w ill confer a great flavor by givin g Im m ediate notice o f any error discovered In these Tables.
Bonds—Prtoe' INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, «tec., see notes of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Chicago A Alton—( Continued)—
1st mortgage.......................- .............................
Joliet < Chicago, 7 per cent, stock................
fe
Bt. Louis Jacksonville & Chic., 1st mortgage
do
do
1st M. end. by Chic.* A
do
do
2d M. endorsed by C. & A ..
do
do
2d mortgage (convertible)
La. & Mo., 1st M. (*439,100 assumed by C. & A..)
do
2d M. (tot. guar. C. & A .).......................
do
guar. pref. stock..................... . . . . . . . .
Bonds for K.C.St.L.<& C. (1st mort. as collateral).
Preferred stock, K. 0. St. L. & C., guar. C. & A
Common stock
do
.......... y *vtv
Chicago A Atlantic—1st mort., gold, $ or &.......
2d mortgage (for $ 5 ,0 0 0 ,0 0 0 ).....................
Chicago Burlington A Northern.—Stock---- . . . .
1st mort., redeemable at 105 and accum. int.
Ten-year debentures ($?,250,000)..................
Chicago Burlington A Quincy—Stock.. . . . . . . . . .
---lruei J UJIWJ IA Wuuvo,w u »mv.
UVl J L /W
Bonds Denver exten. 4s, (sink, fund 2 per oent)..
Southwest Div. 4s, (s. f. lp .o .) .,............................
Debenture bonds for Han. & St. Jo. stock ..........
Northern Cross R. R. 2d. mortgage, g o ld ............
Trust mortgage (Burlington to Peoria)................
Plain bonds (coupon or registered).......................
Bonds of 1895, (sinking fu n d )...........................
Plain bonds—Collateral trust extension............. .
Dixon Peoria & Hannibal, 1st. \Coup., butmay 1
Ottawa Oswego& Fox Riv., 1st 3 be registered. 5

220
38
150
37
37
150
101
101

1862

162

1878

249
249
360
360
3,322
825
787

100
96
33
40
70

1864
1864
1868
1868
1870
1877

1877
1881
1883
1886
1886
1873
1879
1882
1881
1883
1860
1864
1872
1875
1887
1869
1870

$1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
100

$2,383,000
1,500,000
2,365,000
564,000
188,000
44,000
1,785,000
300,000
329,100
2,492,000
1,750,000
271,700
300,000
1,000
665,000
6,500,000
1,000
1,000
2,500,000
9,000,000
100
9,000,000
500 &c.
2,000,000
1,00 J
100 77,540,500
1,000 13,986,000
1,000 12,689,000
7,968,000
1,000
1,000
4,300,000
1,000
9,000,157
441,000
653,000
1,000
545,500
1,000
378,000
11,‘ 00,000
500 «fee.
545,500
1,000
1.076,000

the stock, the excess is to go to the lessees. The Mississippi River Bridge
is leased in perpetuity from Deoember 3,1877, at a rental equal to 7 per
cent on *300,000 stock and 6 per oent on $700,000 bonds.
The Chic. & Alton pref erred stock has prior right to a non-cumulative
divi dend not exceeding 7 per ot. from net earnings, and (after payment
of 7 on common) also shares with common in any surplus. Prices of
etock have been as follows: Preferred in 1881. 140*153; to 1882,
130*146; in 1883,140*150; to 1884,142*152; in 1885,147*155; in
1886 150*162; in 1-87 to March 19, 155*155. Common in 1881,
127*156- in 1882,1274 *1 4 5 1 *; to 18 8 3,1 2 8 *1 3 7 ^ ; to 1884,118*
140k; in 1885,128*140; to ’86,138*146; to ’87 to Mar. 1 9 ,14 3 *1 46k.
Dividends were as follows: prior to the current year: In 1877, both
stocks 7 k ; in 1878, both 7; in 1879, preferred 7, common 6 ; to 1880,
Sref 7 com. 6k ; in 1881 both 8 ; in 1882 both 8 ; to 1883 both 8 ; in
1884, both 10; in 1885 and in 1886, both 8, the periods bemg changed
from’ semi-annual to quarterly in May, 1884.
.
O p e r a t io n s a n d F in a n c e s .—The Chicago & Alton road has been par­
ticularly strong in having a large local business between Chicago and
8t Louis, so that it was less dependent on through business, which is
done at competitive rates. Its leased lines are as completely controlled
as if owned, and the system is compact.
.
Operations, earnings, «fee., have been as follows for four years past.
Fiscal year ends Deo. 31. Annual report for 1886 was in V. 44, p. 307.
OPERATIONS AND FISCAL RESULTS.

nnerntions—
1883.
1884.
L885.
18-6.
PjmSen^erscarried
1,805,140
1,907,486 1,721,286
1,735,549
Passenger n ffi^ g e !. 106,028,676 119,946,417 109,078,875 114,250,157
Rate 18 pass. 18 mile. 2-141 cts.
1-899 ots. 2-025 cts
2-022 cts.
Freight (tons) moved 3,488,496
3,598,284 3,631,108
3,651,100
Fr’gfit(tns) mileage* 549,369,534 602,768,054 538,522,498 560,824,279
Avfi“ t e J tonl8mUe i-128 cts.
1-007 ots.
1-009 cts.
0 961,cts.
$
$
Earnings—
$
2,311,041
2,209,502
Passenger...................
2t2TO,379 2,278,429
5,392,059
5,432,633
6,073,675
Freight........................
6,197,681
3 =>7,539
351.034
357,170
342,550
Mail, express, &o—
8,060,639
Total gross earnings 8,810,610 8,709,274 7,993,16H 4,650,955
5,133,790 4,612,847
5,097,032
Op. exp. (incl. taxes)
3,409,684
3,380,322
3,575,484
3,713,578
Net earnings............
57-70
57-70
58-94
____P_ ________
_
57*85
P.o.of op.exp. to earn
Does not include company’s freight.
INCOME ACCOUNT.
1886.
1885.
1883.
1884.
$
$
3,409,684
3,380,322
M e S U .............
3,713?578 3,575,484
282,654
Other receipts..........
284,773
278,818 __ 272,845
3,653,167
3,692,338
Total................
3,998,351
3,854,302
$
Disbursements—
__$ __ _
70*777
704,473
Rentals paid. . . . . . . .
1,208,277
823,565
254,134
380,702
Cmstrunn, equip., &c
740,759
292,221
836,381
839,307
Interest on d e b t.....
700,544
770,683
1,407,224
1,409,750
Dividends......... .
1,194,184 1,646,840
102,116
93,854
Miscellaneous...........
86,963
88,263
Total disbursem’ts 3.930,727 3,621,572 3,428,086 3,301,632
232,730
225,081
390,706
67,624
Balance, surplus—
— 42’, p. £ 7 0 ; V. 44, p. 275, 3 07, 327.)
TV.
Chicago & A tla n tic .—Opened May 14,1883, from Marion, O., on
line of NTY. Pa. & O., to Hammond, Ind., 249 miles, and thenoe over
the Chicago & West. Ind. to Chicago, 19 miles. Built as a connecting line
for N. Y. P. & O. and N. Y. L. E. & w., and both these companies guaran­
teed the gross earnings on business over their roads to and from the
Chic. & Atlantic, as security for interest on the bonds. Stock, $10,000,000 of which *9,000,000 was deposited with H. J. Jewett (then President
ofN Y L. E. & W.), to trust to hold and vote on it. On Nov. 1,1884, the
interest due on 1st mort. bonds was defaulted. The 2d mortgage bonds
were largely pledged for N. Y. Lake E. & W. loans, partly to Grant &
Ward. In Feb., 1886, suit was brought by the Farmers’ L. & T. Go. to
foreclose the first mortgage. In May, 1»86, Mr. Jas. H. Benediot was
elected President. An outline of proposed foreclosure and arrange­
ment with Erie was in Chronicle of March 19,1887, V. 44, p. 3697T>y
which arrangement ‘.he new issue of bonds will be $12,000,000 at 4 per
cent gold, guaranteed by N. Y. L. E. & W., and $li)0,000 only of stock
tob en eld by that company; there will also be $10,000,000 of 5 per
oent noa-cumulatlve income bonds. (V. 42, p. 304, 338,463,604; V. 43,
p. 131, 217, 308, 333; Y. 44, p. 21, 173, 343, 369.)
Cnicago B u rlin g ton & N orthern.—Owns rrom Oregon, Id.,
to St. Pam, Minn., 348 miles, and track from Fulton to Savanna, 111; total
360 miles. The road was completed Aug., 1886, under Chicago B. & Q.
auspices, as per ciroular of August 1, 1885 (to Chronicle, V. 41, p.
160). The Chic. B. & Q. and Chic. & Iowa give a trafflo guarantee for
twenty years of one-half of their net earnings derived from business to
and from the 0. B. & N., to be not less than $100,000 per year, for the
purohase of C. B. & N. bonds at 105; and after 1896 the bonds may all
be retired at 105. Any 2d mort. issued must be limited to $10,000 per
mile, and shall provide that, out of the bonds issued thereunuer, an
amount equal to the principal of the debentures then outstanding
shall be reserved and applied only to their payment. (V. 43, p. 125,
217, 308, 334, 516, 619.)
u m c a g o B u r lin g t o n & tA uin cy. — ine of Road .—The C. B. &
L
is on? of the most complex railroad systems to the U. S. It has a net­




7
1%
7
7
7
7
7
7
3k
6 g.
Ik
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7
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6 g.
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4& 5
4
4
5
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7
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8
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&
J. & J. N. Y., John Paton < Co.
N. Y. U. 8. Trust Co.
Q .-J .
A. < O. N. Y., John Paton <&Co.
fe
do
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&
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do
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Chic., 111. Tr. < Sav. Bk.
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Chio., Treasurer’s Office
fe
A. < O. N. Y., John Paton < Co.
fc
M. & N. Last paid May 1,1884
None paid.
F. < A.
fe

Jan., 1893
April, 1887
April. 1894
April 1. 1894
July, 1898
July, 1898
Aug., 1900
Nov. 1, 1900
Feb. 1, 1887
May 1, 1903
Feb. 1, 1887
May 1, 1886
In 1886
Oct. 1, 1912
Nov. 1, 1920
Aug. 1,1923

April 1, 1926
Deo. 1, 1896
Mar. 15, 1887
July 1, 1903
Oct. 1, 1919
Feb. 1, 1922
Sept. 1, 1921
May 1, 1913
July 1, 1890
Frankfort.
N.Y., N. Bk. of Com’roe. Oct. 1, 1890
Jan. 1, 1896
Boston, Co.’s office.
June 1. 1895
do
do
1937
J. < J. N.Y., N. Bk. of Com’roe. July 1, 1889
fc
J. «fe J. New York and Boston. July 1, 1900

A. < O.
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F. «fe A.
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Boston and New York.
N. Y., Bk. of Commerce.
do
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work of lines in 111., Iowa and Neb. The main line extends from Chic.,
111., to Burlington, Iowa, 204 miles, and thence to Pacific Junction, 276
miles, and from Pacific Junction to Denver, Col., 577 miles,making the
distance from Chicago to Denver 1,057 miles. From Pacific Junction
to Council Bluffs is 18 miles (track used jointly with K. C. St. Jo. & 0.
B. ), making the C. B. & Q. line, Chicago to Council Bluffs, 498 miles.
The Extens. to Denver was opened May, 1882. Besides numerous looa.
roads the company also has its line in Illinois to East St. Louis, and to
Gainey, connecting with the Hannibal & St. Joseph road (purchased by
C. B. & Q. in 1883) across Missouri to St. Joseph. The mileage reported
at the close of 1885 was 3,646. In addition to this the company con­
trols and largely owns the St. Louis Keokuk & N. W. road, 18 l k miles ;
the Kansas City St. Joseph & Council Bluffs, 313 miles; the Chicago
Burlington & Kansas City, 153 miles; the St. Joseph & Des Moines, 50
miles; and a half-interest with Wabash in the Humeston & Shenandoah
road, 113 miles. The road to St. Paul is the Chic. Bur. & Northern.
O r g a n iz a t io n , «fee.—The C. B. < Q. was a consolidation in 1856 of the
fe
Chic. & Aurora and the Cent. Military Track railroads, and purchased
to 1860 the Northern Cross RR. and in 1862 the Peoria & Oquawka road.
The present company was a consolidation in January, 1875, of the
Chicago Burlington & Quincy to Illinois and the Burlington & Missouri
River in Iowa. In 1880 the Burlington & Missouri in Nebraska
was absorbed. The leased lines are practically owned and there
is no charge for rentals in the inoome acoount, except as interest on
bonds. The ownership in the other roads above-mentioned is in the
stocks and bonds thereof, and their accounts are kept separate. In
In April, 1883, the C. B. & Q. purchased the common stock of the
Hannibal & St. Joseph RR., and part of the pref. stock and paid with
its $9,000,000 of 5 per cent bonds at par. In August, 1885, the agree­
ment was made with the Chio. Bur. & No. for Hie line to St. Paul, and
the C. B. & Q. owns $3,000,000 of the stock of that Co.; see ciroular
in V. 41, p. 160. The fiscal year ends Deo. 31. Annual election in April.
St o c k s a n d B o n d s .—The stook has been rapidly increased for the
acquisition of new lines, and in 1880 a distribution of 20 per cent in
stock was made. Dividends have been : In 1877, 9 per cen t; in
1878,1 0 k ; in 1879,8; in 1880, 9 k cash and 20 stock; to 1881, in
1882, in 1883, in 1884, in 1885 and in 183 ’, 8 paid. The prices of stock
have been: In 1881,1 33k*182k; in 1882,1 2 0 k * 141; in 1883,115%,*
1293s; in 1884. 107*127%: to 1885, 11 5 k *13 8 k ; to 1836, 128%*
141; to 1887 to Mar. 19,136^*140% .
The C. B. & Q. on many of its branch lines gave a traffic guarantee of
40 to 50 per oent, which was used to purchasing their bonds. The C. B.
AQ. 4 per cent bonds were issued against Rep. Valley and Bur. < Col.
fe
5 per cent bonds held to trust, and an equal amount of Rep. Valley stook
scrip was also issued to subscribers to the bonds, such scrip bemg ex­
changed April 1,1882, into Chicago Burlington & Quincy stock. The
Kansas City St. Joseph & Council Bluffs and branches was purchased,
254 miles, and the Chic. Burl. < Q stook issued therefor at *125 per
fe
share, taking the St. Jo. stook at $72 50 per share. Enough of the C. B.
6 Q. consolidated mortgage is reserve«! to take up prior debts. The
bonds of 1876 for St. Louis Rock Island & Chicago Railroad are plain
bonds of Chio. Burlington < Quincy, offset by mortgage of like amount
fe
on St. Louis Rock Island & Chicago road deposited with trustees.
L a n d G r a n t .—The lands were obtained by the consolidations with
Burlington & Missouri in Iowa and Burlington & Missouri to Nebraska.
In Iowa only 16,412 aores remain unsold, and the contracts outstand­
ing Deo. 31, ’85, were for $662,733, principal and interest. In Nebraska
the net sales for the year 1885 were 36,903 acres, for $301,310, an
average price of $8 11 per acre. Contracts on hand, $2,502,609; in­
terest on contracts on hand, $504,761; unsold lands, 91,956 acres,
estimated at $4 per aore, $367,826.
O p e r a t io n s a n d F in a n c e s .— The Chicago Burlington < Quincy Rail­
fe
road has been one of the most profitable in the country, as its numerous
branches tributary to the main line were built into ohoioe agricultural
territory, where they enjoyed a monopoly of the local business at full
rates. The company gives no full trafflo statistics in its report, and the
mileage of freight ana passengers is not known; but corn is the most
important arthne carried.
Gross earnings for one month from Jan. 1,1887, were $1,985,385,
against $1,380,963; net, $920,247, against $396,554.
Gross earnings in 1886, $26,728,408; net, $13,081,741.
The annual report for 1885 was published in the Chronicle, V. 42,
(p. 516». Comparative statistics for four years are as follow s:
road.

Miles ow’d and leas’d
Miles oper’d jointly.
Total operated..

1882.
3,131
98
3,229

1883.
3,224
98
3,322

OPERATIONS AND FISCAL RESULTS.

1884.
3,369
98
3,467

3,647

1882.
1883.
1884.
1885.
Warnings—
$
$
$
$
5,286,407
4,756,992
5,285,839 5,339,866
Passenger................
Freight..................... 15,711,510 19,514,161 18.M4.432 19,565,854
1,704,164
Mato express, & o....
1,082,304 1,310,369 1,629,315
Total gross earnings
Oper. exp. < taxes
fe

21,550,306 26,110,369
11,283,963 13,496,479

Net earnings............ 10,266,842
P.C. of op.ex. to earn
52-4

12,613,890
51-7

25,483,613 26,556,425
14,090,745 14,405,767
11,392,863 12,150,657
55-3
54-2

BONDS
AND
STOCKS
RAILROAD
Mabch , 1887.]




INYESTOKS’

38

SUPPLEMENT.

[V o u X L IY .

S u b sc rib e r« w ill confer a *reat favor by givin g im m ediate notice o f any error discovered In these T able«.
DESCRIPTION.
Miles Date Size, or
Amount
Par
of
For explanation of column headings, &c., see notes of
Outstanding
Road. Bonda Value.
on first page of tables.

INTEREST OR DIVIDENDS.______ l ^ w i t o n D a e

Cent.

Chicago Burlington A Quincy—( Continued)-$890.500
44 1870 $500&c.
Illinois Grand Trunk, 1st mort 1 Coup., but may i
720,000
1,000
40 1870
Quincy & Warsaw, 1st mort . . } be regle ered. >
2,325,000
1,000
5s of 1901 (sink, fund) coup................................... 270 1876
840,000
1,000
46 1876
Quincy Alton & St. Louis, 1st mortgage, g u a r.....
4,170,550
50 &c.
Burl.& Mo. Riv., 1st on r’d &400.0Ö0 acres land).. 281 1863
222,500
40 '69-’70 500 &c.
do 1st M. oonv. bonds, (5th & 6th series);...
Bun. < Mo. consol.M.for $14,000,000, s.f. $30,000 191 1878 600 &c. 11,717,800
fc
669.000
1,000
49 1871
do
Omaha & S. W., 1st M., guar---- . . . - - •
3,347,000
1,000
1880
Burl. & Mo. bonds, s. f. for Atch. & Neb. RR. stock
385,000
1,000
133 1877
Nebraskaçonsol. mort., g u a r ........ . . . .
939,000
1,000
148 1879
Republican Valley RR., sink, fund bonds
1.125,000
149 1878 lÓO&c.
Atchison & Nebraska. 1st mortgage.......
600,000
72 1880
Lincoln & Northwestern RR. bonds........
5.000,000
274 1877 100&C.
Kansas City St. J o. & O. Bl., mortgage ..
734,000
1,000
62 1880
Tarkio VaL and Nodaway Val. mortgages
2,541,000
1,000
67 1872
Chicago A Canada Southern—1st mort., g old .. . . . . .
1,095,000
100
59 1859
Chic. Detroit A Canada Or. Trunk Junction—1st M.
3,000,000
100
246
Chic. A East. III.—Stock.
3.000,000
116 1877 100 &c.
1st M., coup. (s. f . $20.000 after ’85) ........... - - 74,000
116 .1877 100 &c.
2d mort, income (non-cumu.) conv. into consol..
2,575,000
1,000
208 1884
Consol, mort., gold (for $6,000,o00).
233,000
1,000
15 1881
C. & E. 111. Extension, 1st mortgage.........
250,000
1,000
6 7 1880
Dan. & Grape Creek RR.—1st mortgage...
5,405,500
Chicago A Or. Trunk—1st M., $ A. £ ($594,500 res d) 330 1880 £100 &c
6,000,000
1,000
330 1882
2d mort...............................................................
594,500
66 1830 500 &c
Northwest. Grand Trunk, 1st m ort................
4,000,000
1,000
10 1886
Chicago A Great Western^-1st mort., gold........
2,808,000
1,000
120 1886
Chicago A Indiana Coal—1st mortgage..........
600,000
1,000
80 1870
Chicago A Iowa—1st mort., coup., may be reg
1,150,000
1,000
80 1871
2d mortgage...............- ......................................
250,000
1875
1st mortgage C. R. & N .....................................
150,000
1 ....
2d mortgage C. R. & N........................

r! When Where Payable, and by Stocks—Last
■Dividend.
Whom.
IPayable

A. & O. Boston, C. B. & Q Office Oct. 1, 1890
8
.1. & J. N.Y.,N.Bk.of Comm’rce July 1, 1890
8
Oct. 1, 1901
A. & O. Boston, Co.’s Office.
5
F. & A. IN.Y.,Farmers’ L.&T.Co. Feb. 1, 1896
5
Oct. 1, 1893
A & O I Boston, Co ’s Office.
7
1889 & 1894
¡J. & J.
do
do
8
July 1, 1918
J. & J.
do
do
6
June 1, 1896
J. & D.
do
do
8
J. & J. Boston, N. E. Trust Co Jan. 1, 1910
4
Oct. 1, 1896
A. & O. Boston, Co.’s Office.
7
Jan. 1, 1919
J & J.
do
do
6
Mar. 1, 1908
M. & 8.
do
do
7
J. & J. Boston and New York. Jan. 1, 1910
7
Jan. 1, 1907
J. & J.
do
do
7
June 1, 1920
Ij. & D.l
Boston.
7
April 1, 1902
7 g. lA. & 0.1
July 1, 1884
J. & J.! London, England.
6
M. & S. IN. Y.. Central Trust Co. March 1, 1887
3
J. & D. New York, 4th Nat. Bk. Deo. 1, 1907
6
Deo. N. Y., Central Trust Co. Dec. 1, 1907
7
Oct. 1,1934
&O.
do
do
6 g. ¡A.
Ij . & D. New York, 4th Nat. Bk. Dec. 1, 1931
6
Im . & N. Boston, Globe Nat. Bk. May 1,1920
6
1900
6 g. j & j . New York and London. Jan. 1,1922
Jan.,
J.
&J.
do
do
5
J. & J . N.Y..E.P.Beach.B’ way. Jan. 1, 1910
6
June 1, 1936
New York Office.
5 g. J. & D.l
Jan. 1, 1936
,r. & j . N. Y.. Met. Trust Co.
5
J.
&J. New York and Boston. Jan. 1, 1900
Aug. I, 1901
J.
&J.
do
do
July 1, 1895
...............
A. & O.
A. & 0.1
........ ................. Oct. 1, 189,5

INCOME ACCOUNT.

1882.

1833.

S i i
Interest and exch .. » “ . 452,498S12« ? « !
324,180

1884.

1885.

»
592,432
566,769 12'Ü : 2 S
985, 96
1,129,591
Net B. & M. I’d gr’t..
1,329,725 1,595,788
Total income........ 12,049,066 14,533,858 13,089,228 13,728.885
9
Disbursements—
187,171
130,604
Rentals paid.............
148,771
144,506
4,294,263
4,304,284
3,883,789
4,093,005
Interest on debt.......
6,110,572
5,023,599
5,566,484 5,566,580
Dividends.................
8
. 8
Rate of dividends...
8_
_
„, 6 _
646,430
938,064
Carried to sluk’g f’d.
631,443
646,430
1, 000,000
500,000
Tronsf’d to ren’a lf’d.
750,000 1,500,000
Total disbursements 10.437,602 11,950,425 11,448,532 12,233,436
1,611,464 2,583,433
1,640,696
1,490,449
Balance,surplus
1 (V 42. P. 60, 387, 44’?, 506, 51 6 . 631; V. 43, p. 66,162, 256. 274; V.
44, p. 59, 90, 211,343.)

P orter President

(V. 42,' p. 242, ’430,’ 487, 775; V. 43, p. 66, 5L6, 658.)
C h ic a g o & Io w a .-O w n s from Aurora, 111., to Foreston, 111., 80
miles- leased, Flagg Centre to Rukford. 24 miles; total operated, 104
miles. Chartered in 1869 and opened in 1872. In ^¡nds of a R®oeiver
Gross earnimrs for year ending Deo. 31,1885, were $491,046, n<et; $198,
,
562 Grossearning« in 1881, $>52,080; net, $L88,759. Capital stock,
$1428,000. Tills road is controlled by the Chicago Burlington &
Quincy and is used to connect with the Illinois Central.
Chicago M ilw au k ee & St. P a u l.-(«ee

waukee, 8? infles; ^Milwaukee to 8t. Paul and Minneapolis, via La Crosse,
341 miles ; Milwaukee to Prairie du Chien, 194 miles; McGregor (oppo­
site Prairie du Chien) to Chamberlain, Dak., on the Missouri River. 44miles; Chicago, via Savanna, on th e Mississippi River, to Council Buffs,
ta., 487 miles ; Minneapolis to Aberdeen. Dak., 288 mues. On Deo 31,
1886, the mileage in Illinois was 313; in Wisconsin, 1,231; inlowa, 1,511,
Rnnro iiiicnixaii du. 11 uno a vojtuuai
t -»— *
and a bonded debt of $2,541,000, and owes $2,223,051 overdue^oupons, tn Minnesota, 1,117; in Missouri, 12; in Dakota, 1,114. Total miles oper­
ated, 5,298; including Fargo & South, road, 117 miles, Fargo, Dak., to
Original cost, $5,176,557. It is a part of a projected line between Chi­
cago and Detroit River, but failed in 1873. Gross earnings in 1885, Ortonville, Minn., acquired in July, 1885.
$40,974, def. under operating expenses, $19,601. On October 23,1886,
asu’it in foreclosure was begun. (V. 43, p. 515.)
Chicago Detroit & Canada G rand J u n ctio n .—Owns ft-om
ai.
Port Huron. Mich., to Detroit Junction, 59 miles. Opened hi 1859. others. The Miiwaunee .v andjraui au*iw »iu
Chicago Road and others,
built the line from Milwaukee to Chicago,
Leased to Grand Trunk of Canada. Earnings in 1885, $222 654; net, and on February 11,1874, the company took its prePeut name. The
$22,230; paid interest, $65,700, and dividends, semi-annually, each 2 The fiscal year ends Dec. 31. The annual meeting is held early in June.
per cent, $43,800; deficit, $88,571, advanced by lessees. Capital stock,
S t o c k s a n d B o n d s .—T lie preferred stock has a prior right o v e r the
l l 095,000. there is also a 5peroent bond for $691,141 issued to G. common stock to a dividend of not over 7 p. c. from net earnings in
T. RR. Co. The road is owned by the lessees.
each year, but if not earned it has no cumulative right. If a dividend
Chicago & Eastern Illin o is .—Owns from Dolton, 111., to Dan­ was earned in any year and not paid, there might be a claim on future
ville, Ill.f 107*2 miles; Covington, Ind., to Coal Creek, Ind.. 9 miles, years forsuch dividend. After payment of 7 on pref.and 7 on com.,
Danville toSidell’s, 22 miles; leased, Dolton to Chicago (C. & W. Id, 16 both classes share pro rata. Dividends paid sinoe 1873 b®ve b ^ n as
miles; Wellington Junction to Cisua Park, 13 miles ; Evansville Terre follows (prior to current year): In 1874, 7 on preferred paid In ®pnsol.
Haute & C. RR., Terre Haute to Danville, 111., 55 miles ¡ Otter Creek to bonds; in 1875 no dividend; in 1876, 3*a oasn on preferred and 14 per
Brazil, Ind., 13 m iles; Danville, 111., to Covington, Ind., 13 miles, cent in bonds; in 1877, 3*2 on preferred: in 1878,10*a on P f err^
total operated, 246 miles. The leases of 17 miles, Dolton to Chicago, 1879, 2*a on common and 7 on preferred; in 1880,1881,1882,1883 anil
and 13 miles, Danville to Covington, are contracts for use of track over 1 8 8 7 on both; tn 1885, 4 on common and 7 on preferred; in 1886,5 on
other roads. The Evansville T. H. & Chicago was leased May 1. 1880.
common and 7 on preferred,
.
,
« , ,n , qijq ai a
The Chicago & East Illinois was chartered as Chicago Danville &
The range in prices ot stocks since 1877 have been. Pref. to 1878,64®
Vincennes in 1865, and opened in 1872 and 1873. Sold under foreclos­ 84%,- in 1879. 74*8®102 : in 1880, 99®124*s; in 1881, 116^4® 140, in
ure Feb. 7, 1877, and reorganized under existing style Sept. 1,1877. 1882, 114> 144>4 ; in 1883,115® 122*4; in 1884, 9o7|®119: in 1835,
2®
Aconsol.mortgage fo r $6,000,000 was authorized,of which$3,425,000 102®125; in 1886, 116®125%; in 1887 to March 19,
is held to retire prior issues. Under the terms of leases the C. & E. 111. Common—In 1878, 27*3*54*8; in 1879, 3438®82*8; in 1880, 66J3®
iniar interest on $1,515,000 bonds of leased roads.
.
114^,- in 1881, 101*3®129*4; in 1882, 96*3®128*4; iH 1883, 9 l !
^The annual report for the iisoal year ending June 30,1886, was in the 108*3; in 1884, 53*4®94*4; in 1885, 643i®99; in 1886, 82*8*99: in
C hronicle, V. *3, p. 430.
INCOME ACCOUNT.
180
8/toe^consolidated mortgage bonds of 1875, enough were
1885-86 take ud the prior bonds. Bonds may be stamped and discharged
1884-85.
1882-83.
1883-84.
from the operation of the sinking fu n d / The Chicago & Pacific Western
$
$
Gr^ssImShigs.................. 1.759,132 l.|60.320 1,600,143 1,724,564 Division bonds are issued at $20,000per mile on
713,007 auired. The Iowa & Minn. Div. bonds are convertible into preferred
644,598
98,821 stock. The terminal bonds issued in 1884 are secured by***»1
^*^® on
Other income.....................
.........
.........
tile terminal property in Chicago and Milwaukee, subject to the lien
662,959
644,598
811,831 of the general mortgage on part of the track and terminals in toese
Total net incom e............ 770,190
ïïü L S S Î
Disbursements—
___- „
„„
211,512 Ä . W acquired some time after the generai mort.
$3,000,000 U
212,427
Rentals paid....................... ¿ « £ ’22?
¿ « i ’Z^?
336,690
oparty to be acquired as needed to amount of $6,000,000 an
an
301,410
Interest on debt................ 263,774
263,7.1
.88
aiot in Milwaukee C U O llU K q ) A , v u v j w v * The Income bonds. . .of - 188b
75,000
I I W t ill h o u costing $1,000,000.
1
Dividends (2 hi per cent)..
.- ....
--- -int
oonvertffile into
are
4,595 ate for an authorized issue of $3,000,000, and are ooiiv^rte)l01
27,780
Miscellaneous...................
13,862
2 1 ,*»/
‘he
common stock, on notice, 60 days aftOT any„diyideudQday.^ They
3n
after any dividend d
na
627,797 have a sinking fund of 4 per cent, beginning in 1839,
541,617
Total disbursements.. 477,304
473,818
’89,
184,034 be drawn at 105. After ’80, if a majority o f tee bondholdera ^o roques^
of the bondholders
m
102,981
Balance, s u r p l u s 292, 886
189,141
a 2d mortgage shall be made on the line, Chicago to ¿ansas C y,
—(V. 42. p. 124, 21®, 2Vl; V. 43, p. 102, 393, 430.)
and a first on the Mo. River bridge and terminals m Kansas City.
Chicago & G rand T r u n k .—Line of road from Port Huron, Mich., In addition to ab .ve bonds there are $89,000 Hi^imgs & Dak. 7s, due
to Chicago, 330*9 miles; also uses 4*9 miles of Chioago *W c8t- Indiana in 1902, and $35,000 Oshkosh & Miss. River 8s, due in 1891, also
and 4 miles Grand Trunk Junotion RR.; total operated, 339 miles. This $275,0 jO 5 per cent real estate mortgages due in 1890 and 1394.
is a consolidation of roads between Port Huron and Chicago formed in
O p e r a t io n s , F in a n c e s , &c.—The mileage and also the stock and deb
April 1880, under the control of the Gr. Trunk of Canada. It includes of this company increased very rapidly in six years, the indes ow
the former Port Huron & Lake Mioliigan and the Peninsula roads, sold in being 2,359 on January 1,1880, against 5,298ion‘ January 1,1887, and
foreclosure. Stock, $6,600,000 in $100 shares. The Grand Trunk of the stock and bonded debt, in round figures, $69,000,000 on January ,
Canada g컫“ « fcrntfin miarantee of 30 per cent of gross earnings on 1880. against $164,118,161 January 1,1887.
*
business
The annual report for 1886 was in V. 44, March 26,1887. The statlsfor 1885. .
tics in detail were given in the C h r o n ic l e , as follow s:
000; net, $685,000.
OPERATIONS AND FISCAL RESULTS.
Chicago & Great W e ste rn .—O w ns a d ou b le-tra ck ro a d entering
1886.
1883.
1884.
1885.
Chicairo from th e w est, an d term in ating a t P olk st., ea st o f th e C h ica go
5,298
4,763
4,814
4,921
R iv er, w ith la rge term in al p rop erty . T he in terest o n 1st m ort. b o n d s is Miles operated.........
gu aran teed by th e W iscon sin Centra) and its a llied lines, w h ich e n te r
Passengers carried.. 4,591,232
4,904,678 4,819,187 5,481,400
C h ica g o o v e r this roa d .
.
|
Chicago & In d ia n a Coal.—Line of road, Fair Oaks, Ind., to Yed- Passenger mileage... 235,579,6 30 225,851,443 214,550,187 234^ * 2’ cts.
Rate per pass, p.mile.
2-52 ote.
_2'|bote.
2 || ct|
2
do. and tSenoe to Brazil, 119 miles. This company acquired at f oreclos­ Freight (tons) moved. 5,661,667
6,023,016
Qat^í\Í713
ure the former Chic. & Great Southern. The 1st mort. bonds authorized Freight (tons) mil’g e .ll7 6 6 >5032 1247737233 13377214o3 1486509713
are *1,000,000 for the line under construction between Yeddo and Av rate p.tonp. mile.
1 39 cte.
1-29 cte.
1-28 ota.
1 17 ow.
Brazil, 42 miles; $18,000 per mile for single traok road acquired; and




RAILROAD STOCKS AND BONDS.
1887.]
March ,




INVESTORS’

30
--------------

—

■

SUPPLEMENT.

[V o i. XLIV.

f.v « r b , « . * ■ «
■ .< > ..« » f « - >
-----------------INTEREST OR DIVIDENDS.
d e s c r ip t io n .
Miles Date Size, or
Amount
,
Where Payable and by
par
of
Outstanding
Whom.
For explanation of column headings, &e., see notes of
Road. Bonds. Value.
______
on first page of tables.
New York, Office
21« A. & O.
$100 $30,904,261
5,298
do
do
OMxaao Milwaukee dt St. Paul—Com. stoch..,
A. & O.
100 21,555,900
5,298
do
do
Preferred st’ok (7 p. c. y ’rly, not cumulative)
J. & J.
7
1,000 11,470,000
1,435 1875
do
do
Consolidated mortgage (for $35,000,000)
J. & J.
7
5,26 i,000
1,000
370 1863
do
do
J. & J.
1st mort. (Lacrosse D iv .)..........................
7
3,198,000
1.000
230 1867
•fa
do
do
J. & J.
7
lstm ort. (Ia. &M.) - - - - - - - - - ............
J>
>(Ü
123,000
1,000
49 1864
do
C0
Ô0
do
1st mortgage (Minnesota Central). . . . . . . .
J. & J.
7
541,000
1,000
126 1869
do
do
Üt
J. & J.
1st mortgage (Iowa & Dakota)------7
3,505,000
1,000
234 1878
do
do
1st M. ,Ia.&Dak.Ext. ($15,000 p.m. )...
F. & A.
8
3,674,000
1,000
195 1868
do
do
ls t mortgage (Prairie du Chien)
7-3 F. & A.
1,241,000
1,000
195 1868
do
do
J. & J.
2d mortgage (Prairie du Chien)...
7
215,000
1,000
1861
............. •
Mil waukee & Western
7 g. J. & J. London and New York
3,804,500
130 1872 500 &c.
J. & J.
St.P.&C.lst M.(Riv. D.)$<k£(oonv.)
7
2,393,000
1.000
85 1873
do
do
J. & J.
ls t M.,Chic. & Mil. lm e ^ ..- .-.- .^ l ™ ï
5
2,500,000
185 1879
do
do
Bonds on Lac’se &Dav. Div., for Dav. & Nw. RR
J. & J.
6
4,000,000
1,000
212 1879
do
do
lstm ort. on S. W. Div. Western Union R R . . . . . .
J. & J.
6
3,000,000
1,000
119 1880
do
do
J. & J.
1st mort. on UIUC. at ra v.u iv.,
......
6
7.432.000
1,000
419 1880
do
do
1st mort. on So. Minnesota Div. ($9,000,000)----J. & J.
7
1.437.000
1880
do
do
Land grant income bonds.. . . . . . . .
- - -:
7 & 5 J. & J.
6,265,000
417 1880-6 1,000
do
do
J. & J.
ls t M. on Hast.& Dak. Uiv.extens.($ L5.000 p.m.)
6
6,576,000
1,000
372 1880
do
do
J. & J.
ls t M. on Ch. Cl. D. & M .... . . . . . . . . ......................
6
1,669,000
107 1880
Boston.
J. & J.
lstm ort. on Wisconsin Valley R R.......................
7
1,106,500
500
107 1879
few York, Omc<
J. & J.
5
Prior mort.
do
................ —
2,840,000
1,000
142 1880
do
do
J. & J.
le t mortgage, Mineral Point Division.
5
1,360,000
1,000
68 1881
do
do
1st mortgage’ Chic. & Lake Superior Div.,
5 g. J. & J.
4,755,000
1,000
230 1881
do
do
IstM Wls. 1 Minn. Div. ($20,000 p .m .)J I B I
5 g. J. & J.
1,000 22,100,000
1881
do
do
1st M., gold,on Chic. & Pao., W. Div., $20^000 p. m. I 105 1886
J. & J.
5
2,049,000
1,000
77
do
do
Chic. & Mo. Riv. Div., lstmortg., ($20,000 p. m.)
J. & J.
5
2,000,000
1,000
1886
do
do
J. & J.
5
4,303,000
Income bonds convertible........... " ¿ y XAÄKÄn
1,000
1884
do
do
6 g. J. & J.
1,250,000
1,000
ÏÏ9 1883
do
do
A. & O.
6
200,000
1885
do
do
do
incomes............-------------------- .
5 g. J. & J.
988,000
1,000
1886
Dakota & Gt. South'n, 1st, gold ($18,000 per m.)
---------

Bond»—Princi­
n on a »j
pal .When Dne.
Stocks—Last
Dividend.
Apr. 15, 1887
Apr. 15, 1887
July 1, 1905
1893
July, 1897
1894
1899
July 1, 1908
1898
1898
1891
Jan., 1902
1903
1919
July 1, 1909
Jan. 1, 1910
Jan. 1, 1910
Jan. 1, 1890
Jan. 1, 1910
July 1, 1920
July 1, 1920
Jan. 1, 1909
1910
July 1, 1921
July 1, 1921
Jan. 1, 1921
July 1, 1926
July 1, 1916
July 1, 1914
Jan. 1, 1924
1895
Jan. 1, 1916

1886.
stfil°making' the'^hote rom m on^tock^isteVat theBtockExchange
$
5,661,690
e
l e T t ^
17,358,294 S ^ f ^ n tt - then common to 3 ; then both classes share. But the pre1,693,419 3 c stock has not yet received more than 8 per cent in any year,
feroed
24,713,403 Gainst 7 per cent paid on the common. Dividends sin;oe l8 7 o (prior to
: In 1876 ^ «npref.; in 1877, 8 * « g * s
ft
r
nref. and on com.;
2,641,977 \\ ift7ft 7 on pref. and 5on com.; in 1879, 7 on prer. ana o on com.,
7 on
and 6 on
2,327,875 i£ 1880% on nrrf and 76on com.; inin 1881, 7 on pref.com. and 8 com.; in
l
’83 and ’84.7
8,675,045 L«82w7 i i i o n c o m a n i 78» on pref.; in 1836, 6 on com. and 7 on pref.
ia f
on
on pref.
759,350 VriTOB of^stock since 1877 have been as follow s: Common in 1878,
156,017
In 1R79 49i4®948»; in 1880. 8 7 ^ 0 1 3 0 ; in 1 8 8 1,117®136;
R^251^4®150%’ in 1883.115,4®1401 inl884, 811
8;
«®124; in 1885,
14,560,264 L?iia
in 1886 104H®120^; in 1887 to March 19,110®117^.
10.153.139 auL8a ? i
in 1878 59%®79^; in 1879T 76^e® 108; in 1880, 1(M® 1461«; in
58-90
1881 13li®147%T^in 1882, 136® 175; in 1883, ^134®157; in 1884,
INCOMB ACCOUNT.
117®1491 ; in 1885, 119^i®13978j iu 1888, 135®144; in 1887, to
«
1886.
1885.
1883.
1884.
$
9
MTh°eh s l n f i "f Sid4 bonds of 1879 are secured by a deposit of mort.
9.900.802 10.153.139
NetfeSmtags
... 9,881/787 9,611?369
bonds, on tlwfnew roads aoquired at therate
144,654 tArms under winch these are issued were published in % .“ gif’ ^ d2776
105,939
v ¿v, p.
O t L r ^ e c e f t e ::...::
’ 164.707
82,307
Of these bonds so far issued, $6,305,000 are 6s and the balance
9,693,676 10,006,741 10,302,793 5s There are several small issues of bonds m addition to tnose m
Total incom e. . . . 10,046,494
9 ■
Disbursements—
®
6,241,093 the tabte above? viz.: Beloit & Madison RR., $91,000. 7s, due 1888;
6,096,573
5,918,608
Interest on debt.. . - - 5,373,925
0,°00. 7s j u e 1908! ^ “
’J ^ 0’000’
3,053,076 Minnesota VaUey RR., fRailroad (Mich.), $152,000 7s, ^
2,391,039
3,321,167
1908; Peninsula
due 1898.
Divs. on both stocks* 3,212,895
7 on p; 4 c. 7 on p; 5 c. 7s, due> O000.000 debenture bonds were issued to pay for the Chicago
7
The S L
Rate of dividend.......
7
8t. Paul Minneapolis & Omaha stook; the sinking fund for these feuds
Tot. disbursem’nts 8,586.820 9,239.775 8,490,612
9.294,169 is S200 000 per year from May, 1888, if they can he redeemed at 405.
Balanoe for y e a r.... 1,459,674
453,901
1,516,129
1,008,624 8In June, l§84,^he new issue of $6,01)0,000 5 per cent debenture bonds
was authorized, of which $1.966,500 went for the purchase of Blair
* A portion of these dividends was stated 1 sga^a.bL 31°l- ^ 1884!
^
e52U
for improvements as
Any
tags of the previous year as foUows : In 1883, $1,552,311, in is » * , roads and the balance to be used of the company ownedrequired. these
future mortgage on the property
at date of
$1,660,584; in 1885, $1,042,498, andin 1886, $1,526,538.
b0T ^ o S tow afrtcne bonds of 1886 are direct bonds of theC.&N.
GENERAL BALANCE AT CLOSE OP EACH FISCAL YEAR.
w « ¿ p i n ? ; S i S V f l a S B P j t f « . 1 5 » , S E , . 2 ® - X“ 3*
1883.
1884.
1885.
1886.
roads constructed or acquired, at the rate of $20,0 0 0 per mile.
In addition to bonds in above table there were live bonds in the sin Railroad,equipm’t&el46,093,665 149,42|,734 154>||8’J£| 16o’t 77i48S
Bt’ks & b’ds'own-.cost 1,161,980 1,228,283
w w w
768 782 ln£ANDdG^OTQ
—The” ^ 9
ds9of°the company have been aoquired by the

1885.
1884.
1883.
$
9
$
Earnings—
5,499,737
5,766,943
Passenger.................. 5,927.668 16,128,964 17,101,742
16,365,354
Freight......................
1,811.794
1,575,191
1.366,802
Mail, express, &o..
23,659,824 23,470,993 24.413,273
Total gross earn’gs
9
$
9
Operating expenses
2,551,327
2,339,635
2,548,609
Maint’nco of way
2,489,257 2,574,437 2,430,809
Maint’noe of equlp’t.
8,646,132
8 , 102,668
Transp’rt’t’n exp’n’s. 8,011,533
733,515
702,060
614,609
Taxes..........................
150,658
140,829
114,029
Miscellaneous. ...
Tot. operating exp. 13,859,629 14,512.471 14,560,264
9.900.802
Net earnings............. d’ 98V lfJo 9’
59-45
Pr. ot.op.ex. to earns
58 23
59 oo

l:| g o |
4,682.434 consolidated‘ ^ ^ ‘ c^nfissioners^report
2,971,133 4’,262,378
3,048 965
Cash on hand........ .
583.526
617,026
630,475
Til & Iowa ooal lands
944,io2
Total assets.............154,022,017 156,936,049 162,858,497 174.859,829 secured to he paid
force at the end of th e--------Ä

,

...... » ¿ k i s

» 1 1 1

! ? : § »

1

? ; »

Maassaw»
18815^6 showedthatthe

-

TABLE OP LANDS UNSOLD FOR YEARS ENDING MAY 31.

1886.
Name of grant.
1883
1884.
1885
574,362
626,811
685.577
Minnesota........ 784,532
420,423
443,296
461,847
S
a
S
Ä
1,610,661
1,729,269 2,249,109 Michigan.......... 485,677
299,041
303,165
308,723
W isconsin........ 320,125
S i S S i l ;
6,079,030, Ä
M
J
»
«•OW .TM
1,456.147
1,373,272
1,293,831
T o ta l..........1,590.334
Total liabilities. .154,022,017 156,936,049 162,858,497 174,859,829
oppration s F inances , &c.—The Chicago & Northwestern Railway
_ ( V 42 p 155, 156, 351, 3 6 3 , 383. 487, 631, 728; V. 43, p. 387, 399, has pursued the policy of extending rapidly its lines, including 1
those
472, 572,^08, 635; V .44.’ p. 22, 117,149, 260, 275.)
reaching far west to Dakota, and since 1879 has raised ita m°?ey
Chicago &. N orthw estern.—( See Map.)—L ine op R oad The Cliic irrAflt nart bv th© sal© of 5' per cent bonds. The stock had not b _
. TQ-nnAVAtiAA s 949 miles of its own roads and controls 1,339 inilcs mu oh increased until the issue of new stock for stocks of proprietary
Ä e cM go R
S
Ä
Omaha, 503 miles of ^ m o n t Eikhorn r o a d l a n H la rg e n o ^ n a l surplus has been rolled up, amounting to
A Mn Val and 107 of Sioux City & Pao.; total controlled, 5,899 miles. nhout $32 000,000, against which there are no liabilities.
r
The latest a C ia l report (1885:86) was in the C h r o n ic l e , V.43,p.
The mileage is extensive, and is shown clearly in
a°compan^to.g
man The main line from Chicago to East Omaha, Iowa, is 492 miles, 130. The following were the earnings, expenses, <so..
amfthis formspraotically the southern boundary of the whole system,
OPERATIONS AND FISCAL RESULTS.
? h e ^ i n a i v having nothing to the south of that line, with the excep­
1885-80.
1882-83.
1883-84.
1884-85.
tion of a few insignificant branches. At the end of tlie fiscal year, May
3,948
3,843
3,763
3,584
81 1886 the Ciifo. & Northwestern mileage was made up to roe ajinual Tot. miles oper’d
««Tort as’ follows ¡Wisconsin Division, 555 miles; Galena Division, 400
9,140,195
8,403,884
7,968,560
8,623,483
. j®
tu vision 743 miles - No. Iowa Division, 369 miles; Madison P ^ S s ° c a r ? d .
239,150,029
T Ä l o i i ^ 8 ?m U es° Pentarala Division, 369 miles; Winona & St. Peter Pass ger mileage 248,856,303 256,386,389 231,090,788
2-36 cts.
2-38 Cts.
Division’ 448 miles8 Dakota Division, 570 miles; total, 3,949 miles. In R’te P pass.p.m.
;
2-46 cts,
2-40 cts.
8,494,239
8,235,127
Tniv i «¿4 the Blair roads, previously leased,were acquired by purchase,
1466,892,71"
f f i ’he S io ^ C ity & P ^iflo and Fremont Elkhorn & Missouri Valley are
1-19 cts.
1-Ï9 ots.
1-31 cts
SSrated s ^ Ä y (610 miles) and their earnings not included in those
$
$
$
o?C & N.W*. but separately stated in the annual reports m the Chron
Earnings—
„
5,646,150
5,498,111
6,153,071
b ,ii9 ,o io
Passenger..........
17,503,244
16,917,394
17,677,866
^
S
z I won , I c 4-T h e P
ClicaL St Paul & Fond-du-Lao Railroad Freight............. 16,894,352
go
1,130,206
1,086,551
1,189.687
which was a consolidation of several roads, was sold in foreclosure Mail, expres8,&o
1,067,367
June 2 1859, and the Chicago & Northwestern Railway_wasorganized
23,502,056 24,279,600
25,020,624
M j*« ’successor. In 1864 wie company absorbed 41m Dixon Rock. &
Gross eam’s. 24,081,835
Kenosha the Gal. & Chio. Union and the Peninsular RR. of Michigan
9
2,986,955
$
Expenses—
2,939,253
3,590,917
3,372,994
S d has since absorbed by consolidation a large number of other roads Maint’ce of way
2,219,211
2,193,224
2,448,297
2,322,099
including those which were operated as “ proprietary roads.
._ . ,
7,950,608
“
ears, &o
7,970,502
8,429,121
In December, 1882, a controlling interest was acquired in
stock of Transp. & misoel
7,758.638
‘ 702,452
690,928
672,621
618,785
the Chic. St. Paul Minneapolis & Omaha Co. by the purchase of 53,800 Taxes.................
dhAfAfl of «referred ftnd 93,290 shftres of com. stock.
_, _^
13,859,226
13,793,907
15,140,956
In Julv 1884, the leased lines in Iowa (Blair roads) "were acquired
Total.............. 14,072,516
10,420,374
9,708,149
nnthe terms stated in the Supplement of June, 188o, and prior issues. Net earnings—
9,879,668
10,009,319
57 08
58-69
The fiscal vear ends May 31. The annual meeting is held early in June. P.n. exD. to earn.
60-51
58-44
, K K o m s - O f t h e common stock, $10,007,116 was held in

Ä

Ä




“4
.::;:: ttgggg

u C gg g

Ma r c h , 1887.]

KAILKOAD

STOCKS

AND

BONDS.

31

Subscriber« w ill confer a great favor by givin g im m ediate notice o f any error « .c o v e r e d lu these Tables.
DESCRIPTION.
Bonds—Prinoi*
INTEREST OR DIVIDENDS.
Miles Date Size, or
For explanation of column headings, &o., see notes of
Amount
of
Par Outstanding late per When Where Payable, and by pal,When Due.
on first page of tables.
Stocks—Last
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Chicago <t Northwestern—Common stock............... 3,763
••••
$100 $31,365.900
3
I. & D. New York, Co.’s Oifioe Deo. 28,1886
Preferred st’ck (7 p. c. y’rly, not cumulative)........ 3,763
••••
100 22,325,454
Q.—M.
do
do
Consol, sinking fund M...........................................
Mar. 23,1887
776 1865
1,000 12,651,000
7
Q.—F.
do
do
Madison extension, 1st mort., sinking fund, gold
Feb. 1, 1915
126 1871 500 &c.
2.977,500
7 g . A. & O.
do
do
Chio. & Mil., 1st mortgage.......................................
April 1, 1911
85
....
1,000
1.700,000
7
J. & J.
do
do
Menominee River, 1st mort., guar..........................
July 1, 1898
25 1876
560,000
7
J. & J.
do
do
Menominee extension, 1st mortgage, g ola ...........
July 1, 1906
120 1871 500 &o.
2,549,500
J. & D.
7g.
do
do
Gen. cons mort., gold, coup, or reg. ($48,005,000) 1,058 1872 500 &o. 12,343,000
June 1, 1911
7 g. J. & D.
do
do
Winona & St. Peter, 1st mort., guar by Chio.&NW. 137 1870-1 1,000
Dec. 1, 1902
1,276,000
7
J. & J.
do
do
do
2d mort., guar, by Chic. & N.W. 137 1870-1 1,000
Jan. 1, 1887
1,592,000
7
M. & N.
do
do
do
1st M. exten. gld., land gr., s. f . . 175 1871 100 &o.
Nov. 1, 1907
4,079,500
7 g. J. & D.
do
do
Iowa Midland, 1st mort., guar, b y Chic. & N. W-.
Deo. 1, 1916
75 1870
1,000
1,350,000
8
A. & O.
do
do
Northwestem Union, 1st mortgage, gold.............
Oot. 1, 1900
62 1872 500 &c.
3,365,000
7 g. M. & S.
do
do
Rochester & No. Minnesota, 1st mortgage...........
June 1, 1917
24 1878
200,000
7
M. & S.
do
do
Chic. Mil. & N. W., construction bonds.................! 141 1882
Sept. 1, 1908
601.000
6
M. & N.
do
do
Chicago & Tomah, 1st mort., guar.......................... 154 1880
Nov. 1, 1905
1,528.000
6
M. & N.
do
do
Milwaukee & Madison. 1st mort., guar.............
Nov. 1, 1905
80 1880
1,000
1,600,000
6
M. & S.
do
do
Sink. fd.bds.(lst M. as collateral) ($15,000 p. m.j
Sept. 1, 1905
....
1879
1,000
5 & 6 A. & 0.
do
do
S. f. debenture bonds (for C. St. P. M. & O. stock). •••• 1883 ljOOO&o 14,665,000
Oot. 1, 1929
10.000,000
5
M. & N.
do
do
Debenture bonds of 1909 (for $6,000,000)___
May 1, 1933
....
1884 l.OOO&o
3,869,000
5
M. & N.
do
do
C.& N.W. Exten. bds. ($20,000 per M.) op. & reg.' . . . .
Nov. 1, 1909
1886 ljOOO&o 10,885,(00
4
F. & A.
do
do
Ottumwa C.F.& St.P., 1st M., guar.($25,000 p.m.)
Aug. 15,1926
64 1884
1,000
J ,600,000
L
5
M. & 8.
do
do
Des Moines & Minneapolis RR. 1st mort. Bonds...
Mar. 1, 1909
58 1882
1,000
600,000
7
F. & A.
do
do
Escanaba & Lake Superior RR., 1st mort...........
Feb. 1, 1907
36 1881
1,000
720.000
6
J. & J.
do
Dakota Central RR., 1st mort............................. 1
do
July 1, 1901
71 18S2
1,007,000
6
M. & 8.
do
do
do
1st M., Southeast Div. (for $2,000,500)
Sept. 1, 1907
125 1882
2,000,000
6
M. & N.
do
do
North. HI., 1st M. ($20,000 p. m.) guar. C &N. W.
Nov. I, 1907
75 1885
1,000
1,500,000
5
M. & 8.
do
do
Other small issues (see remarks on preced’g page) . . . .
Mar. 1, 1910
....
493.000
do
do
Cedar Rapids & Missouri River, 1st mort___
70 1861 500 &o.
700,000
~T
F. & A.
do
do
do
1st mort___
Aug. 1, 1891
58 1863 500 &o.
582,000
7
F. & A.
do
do
do
1st mort.............. i 146 1866 500 &c.
Aug. I, 1894
146
2,332,000
7
M. & N.
do
do
Chicago Iowa & Nebraska, mortgage.............
May, 1916
82 1863 500 &o.
129,000
7
F. & A.
do
Maple River 1st mortg...................................
do
Aug. 15,1892
1877
402.500
7
J. & J.
do
do
July 1, 1897
INCOME ACCOUNT.

1882-83.

1883-84.
$
9,879,668
$
1,568,704
4,527.235
2,939,469
8
7
83,000

n
«
1885-86. 18S o , °viz^Ni> l a ^ ' ^and f t1878, ^8 lper cent; S * * 1879. follows lsan
i s /76 viz., in 1877 d ^ T O f ^ 6 bee? in
10 in sinoe
$
f ** 500^. a
r?d 400 p * °* ln Stock: in 1881, 1882, 1883. 1884 1885
10,420,374 ?S£1886, ^ Rarige of prices of siook was as follows sinoe 1876, viz.: in
$
1877, 82^® 10o1 in 1878, 9838^122; in 1879, 119'®1501 inlftfto
a;
«*
*28,567
J
>149®204; July to Deo. (new stock) lOO1 143 • in 1881 129
^®
*5,064,534
5,536,363 ®ld8t%; in 1882, 122® 1 40^; in 1883,1164®127hi- in ’l 884 innirJ!
*3,981,348
3,414,504 B S i & T 5' 105* 13* * 18S 6,120.e® X ?i2I n i8 8 7
8
7
7
6
.
f1 .11.Minneapolis west to the Juno, with Bur. C. R. & N. line
"0 1
58,000
58,000 (205 m iles) is b u ilt un d er the ch a rte r o f the W iscon sin M inn & Pac Cnm
Panyissued by the old Territorial Legislature. The W. M & P. Co issues'
Tot. disb’m’ts. $8,848,038
$9^118,408 $9,132,449
$9,039,867
for 50
bearing 6 per cent interest, at the rate of
Balance, surplus $1,161,281
$761,260
$575,700 $1,381,30
P®r
which $5,000 per mile is for equipment. These
* On absorption of Iowa leased lines, rentals ceased and interest ’and bonds are deposited by Rook Island with the United States Trust Co
dividend charges moreased.
niiuiif
n1 6 Rr?ck l8land issues its own bonds for $15,000per
1
l)e.arln? 5 Per cent. The difference in interest as it accu­
GENERAL BALANCE AT CLOSE OP EACH FISCAL TEAR.
mulates is to be investee!in Rook Island bonds; these bonds mav be
Assets.
1883-84.
1884-85
1885-86
a t »¿ter July 1, 1894. The St. Joseph & Iowa RR“ IltaCWc. & N. W .-R oad & equip.. $102.710,425 $126,853,870 $126,901,024 2 ™
to Rushville, Mo., 64 miles, was completed Jan., 1886, and
Other companies
do
39,486,916 35,539,234 36 628,824 $960.000 in 8imiiar collateral trust bonds issued.
* u
200,000
-Real estate in Chioago............
200,000
200,000 0(WhoooU
ia^°«i^dnnoU in 18<?6 of 8i) il,ar collateral trust bonds for $10,m
Bonds owned............................
508,026
360,242
934,482 000,000 (at $15,000 t
per mile single track, $5,0( 0 for equipment arid
Stocks owned............................
20,323.343
12,282,159 1 12,2S 2,159 f7>500 for second track), was for the extension of some 700 miles under
Land grant investments........
730,000
1, 221,000
714,000 the name of the Chicago Kansas & Nebraska Railroad.
aer
Bills and accounts receivable.
1,192,626
1,890,841
1,926,281 h i ^ EBATIiON?’ RiN
.ances, &c.—The company has paid its stockholders
Materials, fuel, &o...................
2.205.359
1,808,567
2,000,734 handsomely, including scrip dividends. The reoeipts from lands are
l|964;698
Cash on hand.........................
3,807,191
2,932,848 *87« P iiCtiT'tUy ended; the land notes on hand April l, 1886, were
iF
Trustees of sinking fund.......
1,730,002
1.934,004
4,239,176
f S t s of e^ne
ingsTeg is“ ued.18 86CretiVe
n0 monthly or
T ota l......
.......... $171,051,394 $185,897,108 $188,759,528
b e e n ^ f o K :earnln« 8> &c* for four years ending March 31, have
>
Stock, common........................ $26,617,366 $41,374,866 |$41,374,866
1882-3.
1883-4.
1884-5.
1885-6.
Stock, preferred......................
22,325,455
22,325,454 J22,325,454- Miles owned & oper..
1,381
1,384
1,384
1,384
Stocks of propriet’ry roads,&o 22,550,100
11, 220,000
11,230,000
Earnings—
80,891,000 91,460,500 ¡ 90,511,500
®"nd® debt...........................
d
$
o
•
3,333,069
3.313Ü448
Passenger.................
Divid as declared, not yet due
1,027,772
3.023.884
1,544,221
3,127,258
1,331,600 Freight.....................
7,928,236
8,056,316
oinking funds pa id..................
........ ...
8,144,142
1,730,000
7,713,659
1,934,000
4,239,175 Mail,expr’s,r’nts,&c.
928,598 1,165,750
Current bills, pay-rolls, &c___
1.038.885
1,880,317
1,163,431
1,690,680
2,251,206
Uncollected coupons, &o........
80,651
113,262
140,762
Total gross earn’gs 12,189,903 12,535,514 12,206,911 12,004,348
Rentals of roads in la., not due
562,543
31,044 Oper, expenses......
7,109,817 7,298,002
Bonds unsold, &c.......
7,160,324 7,166,893
310.000
537.000
37,000
Note of Consol. Coal C o '"".!"]
275.000
275.000
125.000
Net earnings....
5,080,086 5,237,512
Accrued interest not d u e .......
5.046.587 4.837.455
675,395
705,060
703,525 P.c of op.ex. to earn.
58*33
58*22
Miscellaneous...........................
58*65
59 70
120.000
INCOME ACCOUNT.
Land income account........]]]
2,938,675
2,954', 246
3,194,071
„
. ,
1881-82.
1882-83.
Railroad income account.......
9,187,120
1883-84.
1884-85.
9,762,819
11,144,326
Receipts—
$
<
c
$
$
Total.
5,080,086
5,237,512 5.046.587 4.837.455
........................ $171,051,394 $185,897,108 $188,759,529 Net earnings.............
From land departm’t
560,000
470 000
330,000
310.000
Total income.......
5,640,086
5,707,512 5,376,587 5.147.455
Disbursements—
$
$
$
$
« . I f i Ì f i , “ ,1; * * “ ems are to o t o t o l1 *»•
“
¿ v e » Rent leased roads ..
304,363
301,121
301,121
30l]995
Interest on deb t.......
950,000
1,002,350 1,094,750
1,213,250
pany’s1treafxSy0,007’ 116 oommon and $2*284 preferred stock in com Dividends..................
2,937,186 2,937,186 2,937,186
2,937,186
Rate per cent....... .
7
7
7
7
toll|
I969B g UV6 bonds m ainkin« flmds, which amounted May 31,1886, Add. and imp. acc’t . .
^
1,300,000
1, 200,000
750,000
463.000
Miscellaneous*........
147,595
177,784
196,344
164,784
399;’ V?4L p?’^434) 324’ 338, 393, 437, 519» 694; V*43>P* 49, 117, 130,
Total disbursements.
5,639,143
5.618,441 5,279,401
5,080,215
943
89,071
97,186
« * ™ r .- L i n e of road from Sjdells, 111., toOlney, Balance, surplus . . . .
67,240
2i
Ohiw &
Wf S or? anl?ed m 1886 as successor of the Danville - (^ 49 f 3 479^ 1 9 , 548, 631, 6 9 3 , 706, 752; V. 43, p. 308, 766; V. 44,
O l i v e r s rx?, w ^ a 0reSTo8ed
1886. An extension to the
under on«r J f ^ J cted- E min^8 in 1884-5, $50,293 gross, and def
A
C h ic a g o & St. L o u is .—Chioago to Pekin, 111, 150 miles, and branch
2 miles. This is the title of the company organized in March, 1885 as
ton. ( ^ 42 ^ p !^ 5 5 ^ 2 15 ^ 4 if;^ 344> r2l^289^08!)*er’
^
B° 8' successor of the Chicago St. Louis & Western, which had been formed
vikn84,T 8 ®
i ac<5e880i’ of the Chicago Pekin < Southwestern. Stock
fe
S go^ cS S eU
^ a d O c . —L ine op R oad. - O wus from
345; itc^ or^ T n n eR e^ n
les;J l aTPnport* Ia*>to Atchison, Kan., ^,?*99 °’9P9' B£nds offered for sale in New York July, 1885, by R p ’
t^
aven^
hl1
Kaad’ 2V5> Washington, la., to
*.27
*»“ « «
Muscat™«io . s ’ ~
Englewood to South Chicago, 7*5 ¡W ilton to K X w » % a r ( “ i r j T o l f v 8l3 : p 9? 3 ? 3i
S e A ; Ì 7 5 ;MenTo°tn
o
\7 ;
Moinfs’to Indianolaaiid
24-5 • Atiantin V« «ÌSÌSLi;. Q,u,tilrl6. Centre, 14-5; Atlantic to Audubon,
son, i r 6 - Mf
14'7; 4 ™ ca to Harlan> 11-8; Avoca to Car- 2*’A3 Chicago, 111., 231 ul; Richmond, Ind., to Anoka Juno., Ind., 102 m ■
Cameron,’ Mo* toKansas
; W t Tn t o
#
Kttns, 5. Leased: Peoria Junction, Ind., to 111. State Line, 61 m.; Indianapolis to Kokomo*
(0«
edJ ointly wii b y ab*®f* V; & Pac.) 55 m.; total operated, 635 m
KeoktUi l „ r f o K f x e l f ' Ìo‘ Ìa Bo ^ , Ì T S S Ì
a
« *
the reorganization (March 20, 1883,) of the Columbus Chica«>
r? J?d|aua Central road, sold in foreclosure on Jan. 10, 1883
T^e
£• G- & I-C . company was formed Feb. 12,1868, by consolidation of
&lnd. Cen.and Chic. & Gt. East, railroad companies, and was
by
extension from the Miss, to the Mo. River was bi^ t
leased to the Pitts. Cm. & St. Louis Railway Co. Feb. 1,1869 by which
under mortgage i n d i e s ’ Th^ffprini RRr <Ì Iowa, which was foreclosed company it was operated. After default in 1875 and muohiitivation
t
August 22,1811 imder6t'he^LSii+?i+iaild
roads were consolidated a plan of settlement with the Penna. RR. was approved by a majority
to Council B l ^ ’ ^ l i s « ?
ÌRle’ a? d 4ke mam Une was extended
was formerly toe Chicago i!’ s l a w ! , Southern & Missouri Northern of bondholders in 1882 and carried out. The preferred stook is entitle?
if earned, and is dearly cumulative.
chased by ttiis oomnaSr o,?,?^.tbwe?-t?rn’ i1 11 was foreclosed and ptir­ t° 6 percent yearly and the Penna. Co. a large a Z u n t ofThere was held
1*
the lsT^onsol
chie R. r a
and consolidated June, 1880. The Dresent by tie Penna. RR.
mortgage and the stocks, whioh are presumably still held by those
companies. In addition to the bonds given in our table there a?e
CWck R i b&r^ e8^ a ada^ r £ ^
aU
d
86J2ral 8maller amounts of other issues aggregating $28 278
election occuro Ln J u n e ^ ™oal year ends Marcl131>and the annual « 1 5 i sl nun report of this company for the year 1886 wasnub. lished in the Ch r o n ic l e , V. 44, p. 369, to whioh reference should be made»
ft pp p i n t s _
_

Net earnings---- 10,009,319
Disbursements—
$
Rentals paid___
1,570,948
interest on debt
4,288.633
Dividends..........
2,890,337
Rateonpref....
8
Rate on comm’n
7
Miscellaneous ..
98,120




1884-85.
$
9,708,149

3 »

INVESTOKS’

SUPPLEMENT.

[V ol . X LiV.

H nhTrlber. w ill confer a great favor by givin g Im m ediate notice o f any error discovered In theee T a ble».
____ ______
. . ---- . .. .
—
....
i
________ _________________
Bonds—Princi­
INTEREST OR DIVIDENDS.
pal,When Due.
DESCRIPTION.
Miles Date Size, or
Amount
Stocks—Last
par
of
For explanation of column headings, &c„ see notes of
Dividend.
Road. Bonds Value.
on first page of tables.
Chicago < Northwestern—(Continued)—
6
311
Fremont Elkhorn & Mo.Val. ,Consol.bonds----do
do
equipment bonds.............
Mo.V.& Blair RR.Br’ge, 1st. red’ble aft.*93.......
102
Sioux City & Pacific, 1st mortgage.......-------102
do
2d mort. (Gov’t subsidy).
do
pref. stock.........................
Chicago & Ohio River.—1st mort.. . . . . - --- n -.b r-/ ^ D«/,
if A
P
ftOft.Ol
1.384
636
1st mortgage, coup, or re g ........... V * p \
Chic.& Southw., IstM.g. (g’d in cur. by C.R.I &P ) 271
Exten. and collat. bonds ($20,000 p.m.) cp. or reg
.............. 150
Chicago d 81. Louis—1st mortg.......... t
Chicago 81. Louis A Piltsb.—Common stock............. 580
Preferred stock (6 per cent cumulative)............... 580
580
1st mortgage, cons 31. gold ($22,000,000) . . . . . —
1st M. Chic. & G’t East. (Chic, to Logansport). .. 117
208
do Col. & Indianapolis C entral...................
93
do Union & Logansp’t (U’n City to Logansp t
do Cinn. & Chic. Air Line(Richm’d to Logans.] 107
2d M. Col. & Indianapolis Central............. --......... 208
142
Chic. St. Paul A Kan C ity -let, g’ld, $10,000 p m
1,280
1,280
Preferred stock.........................................................
Consol, mortgage ($15,000 per m ile)...................
177
Chic. St. Paul & Minn., 1st mort., gold, coup......
120
North Wisconsin, 1st mortgage.. . . . . . ■■■■■■■-■ - 605
St. P. & Sioux City, mort., gold ¡for $7,000,000...
23
St. Paul Stillwater & Taylors’ Falls, 1st mort—
12
Hudson & River Falls. 1st mort............. - ----—
Minneapolis East HR., 1st mort., guaranteed....
Chicago & West. Indiana—1st mort. (sinking fund)
General mortgage, gold, sinking fund................

1883

$1,000

$7,725,000
401.000

IA. & O. New York, Co.’s Office,
do
do
do
do
J. < J.
fe
do
do
J. & J.
6
J. & J. Ü.S. Treas., at maturity
6
31« A. & O. New York, Co.’s Office.

6
6
6

Oct. 1, 1933

Jan. I, 1923
Jan. 1. 1898
1.628.000
Jan. 1, 1898
1,628,320
Oct. 5, 1886
169.000
500.000
....
ï ’\
Q.—F. New York, Co.’s Office, Feb. 1, 1887
Too 41.960.000
July 1, 1917
do
do
J. & J.
6
1877 l.OOO&c 12.500.000
Nov.. 1899
do
do
M. & N.
5.000.
000 7
1869 100 &e.
July 1, 1934
do
do
J. & J.
5
7.860.000
1,000
1884
Mar. 1, 1915
New York.
M. & S
6
1.500.000
1,000
1885
8,022,441
100
100 17,479,850
1,000 13.442.000
5 g. A. & O. N. Y.. Union Trust Co. Oct. 1,& 1932
1883
1893
’95
do
do
Various
....
7
223.000
Nov., 1904
do
do
J. & J.
7
2.631.000
1864 1,000
Dec.. 1905
do
do
A. & O.
....
7
715.000
1865
Aug. 1, 1890
do
do
F. & A.
7
108,500
....
Nov., 1904
do
do
M. & N.
7
780.000
1864
New York and London. July 1,1936
5 g. J. & J.
2,800,' 00
1,000
1886
100 18,559,660
J a n .20,1887
J. & J.
New York, Office
3"
100 11,259,933
June 1, 1930
J. & D.
do
do
6
11,970,170
1.000
1880
May 1, ISIS*'
do
do
3.000.
000 6 g. M. & N.
1878Í 500 &o.
Jan. 1, 1930
J. & J.
do
do
6
800.000
1,000
1880
April 1, 1919
do
do
6.080.000
6 g. A. & O.
1,000
1879
Jan. 1, 1908
J. & J.
do
do
7
334,800
....
1878
July 1, 1908
J. & J.
do
do
8
125.000
1878
Jan. 1, 1909
J. & J.
do
do
7
75,000
1879
M. & N. N. Y., Drexel, M. & Co, Nov. I, 1919
6 g.
2,445,000
1,000
1879
Dec. 1, 1932
do
do
6 g. Q, — M.l
6,396.666
1 1,000
1882
notes on hand Deo. 31,1885, $2,295,843; lands undisposed of, 837,079
OPERATIONS AND FISCAL RESULTS.
1886.
1885.
1884.
1883.
1885.
1884.
1833.
1882.
635
635
635
635
1,340
Miles of r’d operated
1,318
1,280
1,150
Miles operated.
Operations—
$
$
$
$
Earnings—
1,085,448
1,061,091
1,186,779
1,305,515
Passengers carried. - 1,228,701
1,430,711
] ,470,558
1,311,217
Passenger mileage.. 48,146,452 48,891.744 46,840,896 44,970,677
4,132,530 4,255,398
3,843,948
3,478,62 4
2-30 cts
2-21 cts.
2'32 cts.
2 *42 ots.
253.897
221,690
Rate « pass. $ mile
200,778
172,361
Ail, express, &o—
3,075,385
3,031,595
2,517,062
Fr*ght (tons) carried 2,782,033
5,814,810
5,784,931
5,515.284
23,362
’ght (t’n8) mileage 526,622,269 484,716,894 612,653,872 587,723,362
Tot. gross earnings 4,962,202
Fri
‘ M
3.721,151
4,007,022
3.623.827
3.240.787
rf.
0 72 cts.
0 60 ots.
0'52 ots.
0 59 ots Oper’g expens.&txs.
Ave rate ^ ton $ in.
2,093.659
1.777,909
1,891.457
$
$
st earnings.......... - 1,721.415
$
$
Earnings■
63-99
69-26
1,036,165
65-70
65*31
1,036,077
1,134,689
o. of op. ex. to earn.
1,163,407
3,418.447
INCOME ACCOUNT
3,159,887
3,781,107 2,902,433
1885.
1834.
357,701
1883.
1882.
3 7 1,632
359,718
349,406
Mail, express, &c—
$
$
$
$
Receipts—
2,093,659
1,777,909
1.891.457
Total gross earns 5,293,920 4,396,840 4,567,598 4,842,316 Net earnings........... i 1.721.415
721,995
651,125
3,966,300 Net from land grants
547,777
546,825
3,807,645
3,602,213
4,335,964
Op, exps. and taxes.
33,235
212.221
153.623
120.866
Other receipts..........
$876,016
$759,951
2,848.889
$794,627
2,641,255
$957,956
2,389.106 2,592,857
Total incom e....
$
81-91
$
$
83 36
Disbursements—
81-93
$
81-90
p.o.of op.ex. to earns.
62,982
49,174
35,564
27,736
Rentals paid.............
1,334,324
1,320,146
1,222,371
INCOME ACCOUNT.
1,134,751
675,408
787,976
770,476
1886.
1885.
735,397
1884.
Div. on pref. stock..
1883.
Receipts—
(6)
' (7)
$876,015 Rate of dividend. . . .
(7)
$759,951
* (7)
$794,627
$957,956
12,524
13.065
12,356
1,972
Loss on prop, roads.
26,720
Interest........ •2,035,238
78.073
2,170,361
2,040,767
297
Tot. disbursem’tsi 1,897,885
Other receipts.
____
763,651
470.894
552.090
491.221
$876.015 Balance surplus
$759,951
$874,672
$984,973
Total incom e....
); V. 43, p. 244, 502; V. 44, p. 184, 263.)
-(V. 42, p. 257,
Disbursements—
$21,221
$21,224
$21,224
Chicago & W estern In d ia n a .—Owns from Dolton and Ham
$15.918
Rentals paid........
1,074,121 mond, 111., to Chioago, with a belt railroad and branches, with .ware
1,079,241
1,079,602
663,363
Interest on debt..
houses, elevator, «fee., 48 miles of roads and 132 miles of track in all
Net C. C. & I. C. for
including 2d, 3d, 4th and siding track (of which 51 miles were leased to
120,633
3 11
1 os..................
95,789 the Belt R’y of Chicago), ana about 400 acres of real estate. This
17,565
Miscellaneous. . . . .
nmrmanv leases its road for right of way into Chicago and terminal
i „
rpm
lTllr
narfaria. the Ohicaaro
Total dlsb’rsm’ts
¡$71,9,914 $1,100,826 $1,118,030 $1,191,134 oompany leases ns juau
Balance................. sur.$185,059def.$226,151 def.$358,079 def.$315,H9
—(V. 4?, P -364, 51 7 ; V. 44, p. 369.)
interest charge considerably. The stock is $5,000,000 and bonds are lim­
C h ic a g o St. P a u l & K a n s a s C ity ,—(See Map 0/ if in a. dWorthj ited to $10,500,000; the bonds are liable to be redeemed at any time at
western.)—Des Moines,la., to Oelwein, la., 132 miles; branches, Valeris 105 by a sinking fund, which is provided for by increased rentals to be
to coal mines and Wilsons to Cedar Falls, 10 miles; total, 142 miles , paid for that purpose. (V. 43, p. 22.)
under construction, Des Moines to St Joseph, 15o mi es ; at Oelw ein,
i
a w e s t M ic h ig a n .—Owns from Lacrosse, Indiana, to
connects with the Minn. & Northwestern, and hai a triiffiooontracc with
it The Wise. la. & Nebr. RR. was purchased in Jutv, 183a, for $20,000 Pentwater, Mich., 209 miles; branches—Holland Junction to Allegan,
nèr mile in bonds and $25,000 per mile in stock. Bonds are authorized 23 miles; Holland to White Cloud, 70 miles; Fruitport to Muskegon,
at the rate of $20,000 per mile on road and $5,000 per mile for termin 10 miles; Kirk’s Junction to Piokand’s Junction, 3 miles; Muskegon
n,is in oilies and for equipment; a'so, $8,000 per mile additional foi to Port Sherman, 6 miles; Woodville to Muskegon River, 17 miles,
5l mnes; WWte
dcuWe traok Capital stook ($25.000 per mile), $3,500,00O Gros8 earn Meai-s to Hart, 3 miles; B.’ R. Junction to Big ^ «
in or for six months from July 1,1886, on 115 miles were $138,96», net. River Junction to Baldwin, 20 miles: total operated, 413 miles. Organ
ized as successors of Chicago & Michigan Lake Shore J an. 1,1879, and
$12,523 ; payment from old company, $25,010; surplus over interest
cons^dated in Sept., 18S1, with the Grand Haven road. 57 miles,
charge, $10,023. R. T. Wilson. New York, President.—(V. 43, p. 72.)
Muskegon to Allegan, and the Grand Rapids Newaygo & Lake Shore, 46
C h ica «-o St. P a u l M in n e a p o lis & O m a h a . —
(See ^ aP Chicago miles, from Grand Rapids to White Cloud.
t Northwestern.) Mileage: Eastern Div.—Eiroy to St. Paul, 196 miles
Earnings, &c., have been as follow s:
1882.
1883.
1884.
1885.
1883
1868
1868

""
5ÓÒ&C.
500&C.

North Wisconsin Junction to Bayfield, - —----. P
Ashland, 4 miles; Ashland Shore line, 1 mile; Eau Claire to Chicago
Junotion, 81 miles; Superior Junction to West Superior, 69 miles: total,
333 miles. St. Paul & Sioux City Division-St. Paul.toSioux City, 269
miles-Minneapolis to Merriam Junction, 27 miles; Lake Crystal to LI
more, 44 miles; Heron Lake to Pipestone 55 miles; Sioux Falls Junction
tn qni om 98 miles: Luverne to Doon, 2s miles; total, o21 nines
Nebraska’ Div.—Covington to Omaha, 126 miles; Coburn June, to Ponca
16 miles ; Missouri River transfer, 2 miles; Norfolk Branch to Emerson
46 miles; Wakefield to Hartington, 34 miles; total, 224 miles. Total
owned. 1.334 miles. Proprietary road, 5 miles. Total of all, 1,339 miles
This was a consolidation July, 1880, of the Chicago St. Paul & Mumei
polis (formerly West Wisconsin), the North Wisconsin, and the St. Paul
* SiouxCitv/ The St. Paul & Sioux City was a consolidation in August.
1879, of the St. Paul & Sioux City and the Sioux City &JSt. Paul, forming
a main line from St. Paul to Sioux City. 270 miles. The St. Paul Still
water & Taylor’s Falls was consolidated with this company; also the
Worthington Sioux Falls & Iowa and Covington &
_Hü s.
Preferred stock has a prior right to non-oumulative dividend of 7 per
cent from net earnings; but common is never to receive more than is
»aid on preferred. The Chic. St. Paul < Minneapolis l st mort, is a 2d
&
on the lands ; the land mort, a 2d on road ; but no foreclosure can be
had except bv default on 1st mortgage.
,
.
n*Zn November, 1882, a controllingmterestin the stock was purchased
for the Chicago & Northwestern Railway bytho
°°shares of common at an average price of
^O, andL 53.800 sm^es
preferred at an average of 104-04—the total cost being $l0,503,9u
which stock is held as an asset of the Chic. & Northwestern Company.
For the year 1886 an eai ly report published ia ^he Chronicle, 5L^4,
n. 262. gave the gross earnings as $6,153,26 <; net, $2,301,692, agamst
f iii §10 gross, and 82,093,659 net in 1885.
_ . .
$ Reimrt forg1885 was ln C h r o n ic l e , V. 42. p. 429. T h e land sales in
1885 were 121,045 acres for $516,951, including lots; land contracts and




1.000,000

Total gross earnings........... 1,503,433 1,550J>98 1,469,667 1,297,301
Receipts—
348,788
468,977
364,874
Net earnings........ ................ 4o5,b4b
4,072
2,217
7,559
Other receipts.....................
•>
60»
352,860
471,194
Total income.................... 462,713 372,433
$
$
Disbursements—
i
224,080
222,085
Interest on debt.................... 191,423 217,024
123,004
215,257
184,506
Dividends...................... —
153,580
401,530
437,342
347,084
a » * ™ * ™ ™ » - ■y „
. r f m ’o a f « a »
—(V. 42, p. 186. 486.)
C incinnati & Eastern.—Road (narrow gauge) Cincinnati to Ports­
mouth? a , 100 m les. In Sept., 1886. road was sold in foreclosure and
purchased bv Mr. Netter for $900,550, but resold Jan. o, 1837. to the
Ohk>& Nnrthwesteru RR. C> In 1884 gross earnings, $135,Oo7 ; net.
$8,920; rentals, $9,265; deficit, $145. (V 43, p. 49, 2 /4 , 334, 515, 671,
V. 44, p. 59.)
C incinnati H a m ilto n & Dayton.-Owms from Cincinnati, 0->
toCDavton, O., 60 miles; leased-Dayton & Michigan, Dayton to
Toledo7 142 miles; Cincinnati Hamilton & Indianapolis, Hamilton to
rndianapolis, 99 miles; Cincinnati Richmond & Chicago, Hamilton, CM
>
t o f f i a n a State line and leased road), 44 miles; McComb Toledo &
D S m ile s : total operated. 354 miles; each lease reported separatelyIn April, 1885, a controlling interest in this road was purchased in the
interest of new parties, and in June the directors elected were of M
D m o p o f a l ^ 1886 6tJi^ u eP'pref. stock was abandoned, audia Jan.,
6AV
1887? the stockholders voted to Issue $2,000,000 bonds aud $o09,000
common stock.

M a r c h , 188?.]

RAILROAD STOCKS AND

BONDS.

33

Subscriber» w ill conter a grëat favor by givin g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—PriBol
INTEREST OR DIVIDENDS.
pal,When Due.
For explanation of column headings, &c., see notes
Amount
on first page of tables.
Outstanding Rate per When Where Payable, and by Stocks—Last
Cent. Payable
Whom.
Dividend.
Chicago A T
Vest Michigan—Stock, n e w .....................
Boston.
Feb. 15, 1887
1st mortgage, New Buff, to St. Jo........
Boat.. Treasurers office. Sept. 1889
Or. Rap. Newaygo & Lake Sh., 1st mort. c o u p !" !
N. Y. Union Trust Co, July 1, 1891
Gen’l M. ($12,000 p. mile)......................................
Doc. 1,1921
Cincinnati A Eastern—1st mortgage...
July 1, 1896
Cincinnati Hamilton A Dayton—Stock
N. Y., H. S. Ives A Co Feb. 1, 1887
Preferred stock...... .....................................
do
do
Nov., Î886
Consol, mort. ($996,000 are 7s) sink, fund i 'p .'c
do
do
Mortgage bonds, go:d (for $3,000,000)...................
Oct., 1905
do
do
1937
Cin. Ham. & I. (Junction) RR., 1st mort., guar___
do
do
Jan., 1903
Cincinnati Indianan. St. Louis A Chicago—Stock..
New York.
Ind. & Cin. of 1858,1st mort...............................
Moh. 15.1887
N. Y., Amer. Ex. Bank
Oct., 1888
Indianapolis Cin. & Laf. mortgage........ ! . ! ! ! ! ! ! !
do
do
Cin. & Ind., 1st mortgage.............................! ! ! ! ! !
Feb., 1897
do
do
Deo.. 1892
do
2d M., guar., and funded Coupons!!!
do
do
Jan., 1892
Gen. 1st mort gold sink, fund (for $10,000,000)
N. Y., Central Trust Co Aug, 1,193 )
Consol, m o rt................................................... .
N. Y., Am. Ex. Nat. B r, May 1, 1920
Cincinnati Lafayette & Chicago, 1st mort-.. gold *
do
do
Moh.. 1901
Cincinnati Lebanon A North.—\at m. (for $200,000;
Cinn., 4th Nat’i Bank
Cincinnati A Muskingum Valley—1st mortgage..
19 J6
Jan.,’86, cp.pald in Nov, Jan., 1901
Cincinnati New Orleans A Texas Pacific—S tock...!!
Cin. Richmond A Chic.—1st mort., guar. C. H. AD.
Feb. 5, 1833
N. Y., H. S. Ives & Co.
2d mortgage, guar, and owned by C. H. A D ___!
July, 1895
do
do
Cin. Richmond A Ft. T .—1st mort., gold, guar......
F
Jan. 1, 1889
N. Y., II. S. Ives & Co.
Cincinnati Sandusky A Cleveland—Stock..............."
June, 1921
Boston, Office,
Preferred stock.......................................
May 1, 1884
do
do
Mortgage bonds, Sandusky, Dayton & Cincinnati
Nov. 2, 1885
Boston, Nat. Revere Bk. Aug. 1, 1900
Mortgage bonds, Sandusky City A Ind.............
Boston, Office,
2d mortg. Cine., Sandusky A Cleve.................. ! "
Moh., 1887
do
do
Cincinnati A Springfield—1st mortgage, guar
Deo. 1, 1890
N. Y., U. S. Trust Co. April 1, 1901
2d mortgage................................... . . 7 ° . . ? ............! . !
do
do
Cincinnati Wabash A Michigan—Stock ($3,000,000)
1902
For the nine months ending Deo. 31, 1886, the net surplus annlirahle
to dividends was $358,120. Income kccoum in the flsc^ y e ^ s ending
llHirii» all the
__A. .1 :
©
March 31 was as follows, including oil fll ft roads operated y
Wm
1883-84.
1884-85.
1885-86.
Gross receipts................................ $3,042,461
$2,865,933
$2,856,559
Operating expenses and taxes.. $2,083,705
$1,841,271
$1,813,899
C. H. AD. div., com. and prof..
236,485
236,940
236,940
Interest.........................................
509,840
503,266
490,718
D. A M. dividends.......................
132,015
132,017
132,020
Miscellaneous..............................
6,185
10,630
$2,968,227 $2,724,144 $2,673,577
Total......................

Receipts from —
1884.
Passengers.................................. $P5 4,197
Freight.....................................
1,855,8’ 6
Mail, express A miscellaneous.
148,131
Total earnings................... $2,658,184
Working expenses and taxes... 1,83 6 974
Net earnings for the year...
Deduct—
For rental................. .................

$821.210
812,000

1886.
$626,463
2,130,765
124,944
$2,681,546
1,710,535

$2.882,172
1,833,579

$971,011

$1,048,593

812,000

834.043
Surplus revenue.....................
$9.210
$159,011
$214,549
Net surplus.............................
$74,232
$141,789
$182,982 —(V. 42, p. 2 4 0 ; V. 43, p. 125, 210, 774 ; V. 4 1.V. 2 L )'
—!V.43,p. 131, 334, 487, 671, 718; V. 44, p. 59, 90, 148, 21 .)
R ic h m o n d Sc C hicago.—Owns from Hamilton. O..
va^iii^tatei-I+U 37 mile, : leased, Richmond, Ind., to Ohio State
ie’
8
Cincinnati In d ia n ap olis St. Lou is & C h icago.-(S ee M ap.)- n n n <
?8’ total operated, 44 miles. Reorganized May 3, 1866.
Owns from Cin. to Lafayette., Ind., 174 miles; Lawrenoeburg branch H a6’i7 ml1
r t S p i 1
1
fr01? February,1869, to Cincinnati Hamiltoil
3 miles; Harrison branch (partly owned), 7 miles; Fairland F. A M
expenses
Road, 3 8 miles; and Cincinnati Lafayette A Chicago (leased), 76 miles’ bond interest. t?l8 co,upany to receive all surplus afternet $109 8and
Gross earnings in 1882-83, $254.003 •
44(lleenn & 5 u, lly 44 “ ilea (leased); Kankakee A Seneca (one-half ^ t ’.^ .S O O ; surp., $55 944. Gross in 1883-4? $247,^911 ? net?$86,256
8
0^ ? d ), 43 miles; Col. Hope A Green., 26 miles; total operated, 411 miles nt., $43,120; surplus, $43,068. Capital stock, $382,600.
This company was formeriy the Indianapolis Cin. A Laf., which was a
J
consolidation in 1876 of the Indianapolis A Cin. and the Laf. A Indianap- m!P1? c? ,1 na.tl R ic h m o n d Sc F o rt W a y n e .—Owns from RlohoUs railroads, the company taking a perpetual lease of the Cincinnati m°nd, Iud., to Adams, Ind., 86 miles; leased, 5 miles of Pittsburg
Fort Wayne A Chicago; total operated, 91 miles. Leased for 99 years
^ Indiana Railroad. The road was sold in foreclosure Feb 2 1880
and this company organized.
’
’ I® Ilpand Rapids A Indiana, the rental being net earnings; in­
. Tde ne^ 4 per cent mortgage for $10,000,000 will retire all other terest is guaranteed by the lessees and by the Pennsylvania Company
bonds as they fall due, and leave a surplus of $1,000,000 for other pur­ in 188? ' f e r n ? ? ™
c «mPany- Jointly! G r o s s e S m s
poses as needed. There are yet outstanding $33,500 Cin. A Ind fund in IS«4, |3 q
>7 ’
f i
q’q Ion L,08S t° guarantors, $100,391. Gross
coup. 7 p ct. bonds, due Sept., 1890.
6
“ xuna. stock * i$709 f o o ’ m i ’ ,189>
329 5 1088 to guarantors. $79,835. Capital
After paying dividends of 6 p. c. in 1881, 6 in 1882,and 3 in 1883 rh« stock, $1,709,192. Total advances by guarantors, $988,466.
irom JulJ 1883, were passed, the money being required for
r>
& O le v e la n d .-O w n s from Sandusky,
Ohio, 154
Carey to Findlay, 16 miles*
inDec , 1 SS™8,868 ^ flood’ &C-’ and 1 per oent Quarterly was resumed Ohio, to Dayton, Springfieldmiles; branch,44 miles; total operated, 214
leased, Columbus
A Cincinnati,
;,1888 tke division between Springfield A Dayton, 24 miles, which is
,^lar2ill’.,1887’. 8t0v
Cllh?1? eis of record, on the 18th of that month mti®8
I> <
a 2756)prl vllege subscribing to $3,000,000 new stock at 65. (V. 44, leased to the Clev. Col. Cinn. A Indianapolis. The preferred stOBk
has a lien by deposit of old bonds in trust. The Receiver, after a
P°888881°n of the property, was discharged January 1880.
ia a « V eveii
,*IuIJr 1 gross earnings were $1,615,163 in
ann
againsl $1>^19,836 in lr 85:6 ; net, $642,700, against $>67 068’ In April, 1881, a lease was made to the Indiana Bloomington A Western.
surplus over charge?, $29 2,700, against $217,068.
¡T»o /, uob, By the terms of the lease this company takes 33i3 per cent of its gross
, V ‘e annual report for the fiscal year ending June 30,1886, published thm
hut the amount in any one year shall not be® less
in the Chronicle, y . 43, p. 430, had the follo wing:
puoiisnea *909
J>°/ mo+ ldau $5 >0,000. There was a difference of
Ie
n^2u’,?I6 b*?h lcd from the lessee up to 1835, and suit was brought and
i
INCOME ACCOUNT.
finally decided against the I. B. A W., which company thereupon wen t
1882-63.
1883-84.
1884-85
1385-86. 40 a+r®??ly er!, *5 July, 1886. The U. S. Court ordered the receiver to
1
$
$
$
$
®c - 8; * p ’ raalal- hut afterward it was reported that the suit
Gross earnings.......... 2,617,457 2,408,589
2,595,859 2,526,934 wouia be settled and the two companies consolidated. (See V. 43. p 458 )
Net earnings_____
973,652
For the year ending June 30,1885, rentals received and miscellaneous
903,190
935,678
98 «,872
Disbursements—
receipts were about $228,000. Payments, including all expenses, in­
Interest on bonds..
621,159
o
626,233
624,482
624.234 terest, dividends on preferred stock,Ac., about $246,000. '(V 42 ’ P 691Dividends..............
315,000
210,000 V. 43, p. 49, 244, 309, 398, 458; V. 4.4, p. 99.)
Rate of dividends .
(4^8 p. o.)
* ®Prl“ Sfleld.—Operates from Cincinnati. Ohio, to
(3 p. c )
Miscellaneous........
2,342
5,254
29,045
18,844 Springneld, Ohio, 80 miles, of which 32 miles were leased from other
companies. The whole is leased and operated by Cleveland Col. Cin.
Tot. disbursem’t s ...
938,501
631,487
653,527
853,078 A Ind. Co., giving them a line into Cincinnati, and depot accommodatlon. Lessees apply any excess over rentals to C. A S. stock. Interest
Balance, surplus.
35,151
271,703
282,151
133,794 l8g ua£anteed on \he first mortgage, oie-half by the lessees and one-half
A on
215, 338, 468, 604, 928, 753; V. 43, p. 22, 73 190 368 ? L Ln8hn rer-&
° ? tll?rn- Stock is $1,100,000. To January, 1886,
430, 431, 458, 515, 607; V. 44, p! 59, 90, 244, 275, 343.)
’
’
’ S®
c - . & L l“ *4 advanced $2,769,167. Gross earning? in 1881,
f 91? '9d8u>
*193-668 ; rentals, $166.060; interest, $185,iJah
* 174.947’ Gross in 1885, $886,104; net,
, r®
ntals. $167,322 ¡
iUiai opera tea, ess miles. This company was formed in Julv f } ? 3,^62 total, $368,392: deficit interest, $185,570; other payments,
$15,500;
$174.829
J
i s s f ’onn8o^ne8A0r of the Cincinnati Northern, sold in foreclosure? Stock
C incinnati W a b a sh Sc M ich igan R a ilw a y .—Owns from
» e ffig y . ( Y H r * )
17m0nth8t0 Dec- 31> 188b?’ S I ? ® ; Benton Harbor, Mich., to Anderson, IndT, 165 miles. Sold Nov. 5, 1879for account of bondholders. New company organized April, 1880.
Dresden’ juncti on
V a lle y .-O w n s from Morrow, 0 .,to Toi a u t h o r i z e d . , $3,000,000. Gross earnings for 1886, $389,139 ;
in ia si Junction,O., 148 miles. Chartered as Cinn. Wilm & z W p« net, $98,404. Gross iu 1885, $321,790; net, $58,655. J. H. Wade,
’
’
reoriraniTArt °Peaed .in 13A7- Sold under foreclosure Oct. 17,1863, and President, Cleveland, Ohio.
3
*8 Cincinnati A Zanesville March 11,1864. Sold again Dec
W a sh in g to n Sc B a ltim o re .—(See Map o f Balt. A
69, and reorganized as at nresent .t«
f0r 99 Ohio.) Cincinnati, O., to Belpre, O., 193 miles; branches—Marietta to
Pr®
i was terminated P?1 ’od4 ndles; Portsmouth to Hamden, 55 m ; Blanchester to Millsing8 in i 885'« i r o
possession. Gro.s eam- Doro, 22 m.; total, 281 m.
The Marietta A Cincinnati Co. was sold in foreclosure Deo. 9 1882
cit, $171 917
f ob’? 17; interest, $105,000; total dettand re-orgamzation was made Feb. 7, 1883, under this name.
’
’
Prior lien bonds were issued for receiver’s certificates. Of the first
mortgage bonds, $1,250,000 were issued for the Cincinnati A Baltimore
Railroad stock, and bear 6 per cent, the balance bear 4*2 per cent and
are i\aair.aill'e,ed hy the Balt. A Ohio Railroad Company. The Income
bondholders have voting power.
°
The annual report for 1885 in V. 42, p. 517, had the following;
Earnings from —
1833.
1884.
1885.
Chattmooga, Tenn ^ 36tinO??thThl r??d ® f nc fi-om Cincinnati to Passenger?....................................... $562,881
xi d®
$536,198
$161,412
Freight.......................................
1,177,181
1,079,861
1,019,277
O. A No Mail, express, A c............................
249,805
238,249
224,581
^ 'p k E M E N ^ T ie a
renta?dm ^h^T’i RR> 43 miles- Se8 tith? in this
year till 1886 then $9
1
2
n 1 ™utllern is *812,000 per
8; !
Total earnings.......................... $1,98 ),86 7 $1,854,308 $1,705,270
till 1901, iand $ 1 2 6 2 0 0 0 am 91* ! 1’012’00, til11896>*1-102,000 Operat ng expenses and taxes___ 1,489,824
0
1,408,371
1,464,830
44, * 243 T a v e the fofiowing income account for three years:1886 in V.
p. ^±o, gave tbcfni lnwi ,,7/i ™ ° 6, The annual report for
Net earnings............................. $500,013
$445,937
$240,440




34




INVESTORS’ SUPPLEMENT.

[Y ol

x l iv

.

KAILKOAD STOCKS AND BONDS.
]
March, 1887




INVESTORS’ SUPPLEMENT.

36

[Voi. XLiv.

Subscriber» w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal, When Due.
Par
Stocks—Last
of
of
fo r explanation of column headings, do., see note
Whom.
Road. Bonds Value. Outstanding Cent. Payable
Dividend.
on first page of tables.
Cincinnati Washington A Balt.—Common stock___
Preferred stock.........................................................
1st mort, gold (the 4*28 are guar, by B. & O)........
2d mortgage, gold....................................................
Prior lien, gold..........................................................
3d mort., gold (3 pr. ct. for 10 years and 4 after).
1st Income mort., non-cumulative, gold................
2d income mort., non-cumulative...........................
Baltimore Short Line mortgage...............................
Cincinnati & Baltimore mortgage..........................
Scioto & Hocking Valley mortgage........................
Cleveland Akron £ Columbus—S t o c k ................
1st mortgage bonds..................................................
Cleveland A Canton.—Preferred stock.....................
Common stock.......... ........................ .....................
Bonds . . . . ................... ............ ...............................
Cleveland Columbus Cincinnati A Ind.—Stock.......
1st mortgage Bel. & Ind..........................................
do
C. C., C. & I. sinking fund...............
Cons, mortgage (sink, fund 1 p. c.).......................
General consol, mort., gold (for $12.000,000)—
Olevel. Lor. A Wheel.—Cl. Taso. Val. & W. 1st M .. ..
Cleveland A Mahoning Talley—Stock........................
1st mortgage, extended...........................................
3d mortg. (now 2d)....................'...............................
Niles & New Lisbon, 1st mortgage........................
Cleveland A Marietta.—Stock.....................................
Cleveland A Pittsburg—Guaranteed stock...............
4th mortgage (now 1st)...........................................
Consolidated sinking fund mort, for $5,000,000..
Construction and equipment bonds, Series ‘‘A” ..
Do
do
Series " B ” ..
Cleveland Youngs. A Pitts.—IstM., gold....................

281
281
....

144
144

391
202
390
390
158
127
67
67
35
99
226
199
199

1883
1883
1883
1883
1883
1883
1869
1852
1886

1864
1869
1874
1884
1878

$100
100
1,000
1.00C
1,000
1,000
1,000
1,000
1,000
1.000
100
500 &c.

100
1,000
1,000
1,000
1.000

1873
1876
1870

50
500 Ac.
500 Ac.
500 &c.

1862
1867
1873

50
500
1,000
1,000

188*2

1,000

$5,886,100
12,993,200
7,171,703 4iflg& 6g M. & N. N.Y., Farm’s’ L.A Tr.Co.
do
do
5 g. J. & J.
3,031,000
April 1, 1893
do
4%jg. A. & O.
do
500,000
Nov. 1, 1931
do
do
3-4
F. & A.
2,270,000
Nov. I, 1931
do
do
5
3,500,000
Nov. 1, 1931
5
do
do
4,000.000
do
Dec. 1, 1904
do
J. & D.
750,000
7
500,000
7
J. A J. Cin., C. W. A B. Office. Jan. 1, 1900
7
N.Y.. Farm.Ln.A Tr.Co. May. 1, 1896
300.000
M. & N.
Feb. 1, 1887
N. Y., J. A. Horsey.
4,000,000
l»s
Jan. 1, 1926
do
do
J. & J.
600,000
6
2,800,000
.......... . . .
7,000,000
340J)00
F. & A. N. Y., U. S. Trust Co. Feb. 1, 1883
14,991,600
2
Until 1899
do
J. & J.
do
7
281,000
do
do
May, 1899
M. & N.
3,000,000
7
4,007,000 7 or 6 g. J. & D. New York or London. June 1,1914
Jan. 1, 1934
New fork.
3,205,000
6 g. J. & J.
7
A. & O. N.Y., Union Trust Co. Oct. 1, 1898
700,000
Cleveland, Office.
(Î)
M. & N.
2,759,200
(?)
Aug. 1, 1893
740,500
7 g. F. & A. N. Y., U. S. Trust Co.
¡Sept. 15,1896
do
do
M. & S.
654,600
7
Jan., 1890
J. & J. N. Y., Union Trust Co.
500,000
7
(?)
Q .-M . N. Y., Farm. L. A T . Co.
11,246,971
1\
do
do
J. & J.
1,096.000
6
do
do
M. A N.
2,2 0.000
7
Jan. 1, 1913
do
do
7
J. & J.
1,669,000
401,000
7
1,600,000
6 g. J. A J. Last paid Jan., 1884

____
1886.
1884.
1885
1883.
$
$
$
Disbursements—
$
1885.
602,540
659,385
702,810
$240,440 luterest on debt... (2) 507,453
299,984
Dividends................
*102,633
*79,896
*‘ **2,133
26,995
Inter« st on bonded debt................ $673,690
$392,072
$693,275 Miscellaneous...........
O ther interest and miscellaneous.
............
28,594
1,213
Total disbursem’ts
834,432
705,173
739,281
704,943
530,177
244,521
*117,976
*779,812
Total disbursements...............
$873,690
$720,667
$691,483 Balance surplus.......
* From the surplus as here given each year, there was spent for addi­
$274,730
$154,048
Balance, defloit.............................. $173,647
tions t i property: In 1885, $177,144; in 1886, $188,418.
—(V. 42, p. 207, 5 1 7 ; V. 43, p. 308, 398; V. 44, p. 60, 90.)
—(V. 42, D 93. 155,
463. 604, 683:
Cleveland A k ro n A C olum bus R a ilw a y .—Owns from Hud­ 398, 579, 671; V. 44, 304, 3 3 7 , 184, 308, 357, 36V..)43, p. 22, 131, 309,
p. 21, 59,
8
son, O., to Columbus, O., 144 miles. Default was made July, 1874, by
Cleveland Mount Vernon & Delaware. Sold in foreclosure August 20,
Cleveland Lorain Sc W h e e lin g .—Owns from Lorain, O., to
1881. In March, 1882, the decree of foreclosure under which sale had West Wheeling, O., 158 miles. Chartered as Lake Shore & Tuscarawas
been made was reversed, and road was sold again to parties represent­ Valley in 1870 and opened in 1873. Sold under foreclosure Jan. 26,
ing the Holland bondholders. The company was reorganized under this 1875, and reorganized as Cleveland Tusoarawas Valley & Wheeling. In
title in Jan., 1886. The 1st mort. bonus may be redeemed Jan 1, 1890. February, 1883, road sold and reorganized as Cleveland Lorain &
Gross earnings in 1886, $542,915; net, $130,532; oharges, $56,828. Wheeling. Common stock is $L,000,000 and preferred $1,600,000. In
Gross in 1385, $493,890; net, $88,001. (V.42, p. 93; V. 44, p. 275, 369.) 1885 gross earnings were $755,447; net, $212,111; interest, $49,000 ;
Cleveland & C an ton .—Line of road—Cleveland to Coshocton, O., surplus, $163,111. (V. 42, p. 631.)
115 miles; Canton to Sherrodsville, 43 miles; Oneida to Minerva, 3 miles;
Cleveland Sc M a h on in g V a lley.—Owns from Cleveland, O.,
total, 161 miles. The Connottou Valley Railroad was sold in foreclosure
May 9,1885, and this company was organized with an authorized capital to Sharon, Pa., 81 miles; Niles, O., to New Lisbon. 0., and branches,
of $4,000,000 common and $8,000,000 preferred stock. The gross 46 miles; total operated, 127 miles. It was leased to Atlantic & Great
earnings for year ending Dec. 31, 1886, were $358,219; net, $76,679. Western in perpetuity from October 1,1861. A new lease was made
See full report to Dec. 31,1886, V. 44, p. 120. For one month from to the reorganized oompany, New York Penn. & Ohio, till Oct. 1,1962,
Jan. 1,1887, gross earnings were $27,46% against $20,830 in 1886; net, at $357,180 per year till Jan., 1885, and $412,180 per year afterward.
$3,985, against $858. (V. 42, p. 338, 364, 548, 604; V. 43, p. 244, 487;
Cleveland Sc M arietta.—Operated from Marietta, O., to Canal
V. 44, p. 1 2 0,211,275.)
Dover and branch, 99 miles, and 7 miles, Valley Junction to Canal
Cleveland C olum bus C incinnati Sc In d ia n ap olis.—Owns Dover, leased. The Clev. & Marietta was successor to the M., Pittsb. &
from Cleveland, O., to Columbus, O., 138 miles; Gallon, O., to Indian­ Clev., foreclosed in 1877. The road was again foreclosed May 5,1886,
apolis, Ind., 203 miles; Delaware, O., to Springfield, O., 50 miles; and reorganized, and $2,000,000 new stock issued and held in trust for
leased, Cincinnati & Springfield RR., 80 miles; Levering Station to old mortgage bonds. Consolidation with the Valley RR. of Ohio is pro­
Mount Gilead, 2 miles; Ind. A St. Louis R R , Indianapolis to Terre posed. Earnings in 1885-6, $293,862; net $62,813. G. H. Candee, Sec­
Haute, 72 miles; St. L. Al. & T. H., East St. Louis to Terre Haute, 189 retary and Treas., 52 William St., N.Y. (V. 42, p. 430,575; V. 4 3 ,p. 431.)
miles; Alton branch, 4 miles; total owned, leased and operated, 738
Cleveland Sc P ittsb u rg.—(See Map Penn. RR.)—Cleveland, O., to
miles. This was a consolidation in April, 1863, embracing the C. C. & C. Rochester, Pa., 124 miles; branches—Bayard, O., to New Phila., 31
and the Bellefontaine roads; subsequently leased Cinn. & Spring. RR. miles; Yellow Creek to Bellaire, 43 miles; leased, Rochester to Pittsburg
and St. L. Al. & T. H. RR., and purchased Ind. A St. L. RR.
(P. Ft. W. & 0.), 26 miles; total operated, 226 miles. The property was
The company paid dividends prior to 1877, but after that the leased for 999 years from Dec. 1,1871, to Penn. RR. Co., and lease trans­
large decline in rates for through freight and the heavy rentals paid ferred to Penn. Co. May 1,1872. Rental, 7 per cent on existing capital
reduced the company’s income so that no further dividends were paid and $10,000 per year for company expenses, the lessees assuming all lia­
until February, 1880. and none after that till February, 1883. In 1882 bilities. The terms of the lease were 10 per cent, but the old stock was
the oompany acquired control of the Indianapolis & St. Louis, and made subsequently converted into a 7 per oent stock by an increase in amount.
a new lease of the St. Louis Alton & Terre Haute Railroad. The sinking The annual report for the year ending November 30, 1882, stated
fund provision of consblidated bonds may be oanoeled at option of that final settlement had been made with the Pennsylvania Railroad
holders, and the bonds so stamped.
of surplus assets remaining to this oompany, as
The annual report for 1886 was in the Chronicle, V. 44, p. 368, and Company in the matter after closing its business, which surplus accrued
of the date of the lease,
said: “ It is gratifying to note, as compared with 1885, an increase in to the lessee by the terms of the supplementary agreement of November
the gross earnings upon all of the roads in the system, and a dec rease 30,1871. “ The total amount transferred as authorized by the board
in operating expenses. The gross earnings for the whole system show of directors is $202,291. This sum has been charged against construc­
a gain of $779,4.>0. The expenses were reduced $171,485. and the net tion, meeting the old balance of net earnings—$390,138—credited to
eat nings increased from $1,482,171 to $2,433,146, a net gain of $950,- construction in the year 1880.”
975, and leaving a net balance, after paying all interest, rentals and
For the year ending November 30, 1886, the gross receipts were
additions to property, of $70,665, as against a deficiency last year of $2 885,234, an 1 the deficit to lessee after making a 1 payments was
$863,825. The condition of the property has been fu ly maintained.”
$161,4b2, against a deficit of $3.41,981 in 1885.
For 1886 gross earnings of the whole system were $7,228,385, against
$6,411,445 in 1885; net, $2,461.572, against $1,482,171; surplus over
Cleveland Y o u n g sto w n Sc P ittsb u rg .—Standard-gauge road
all oharges and improvements, $104,993, against a deficit of $863,826. in progress from Southington, O., to Steubenville, O., 100 mues, and
32 miles branches. In operation from Bergholz, O., to Phalanx, O., 70
Oa the C. C. & I. C. proper, the results for four years were as f dlows:
miles. Earnings in 1884-85, $46,864; net, $6,595; in 1883-84, $44,OPERATIONS AND FISCAL RESULTS.
694; net, $7,900. In March, 1884, Robert Martin, of Steubenville. O.,
was appointed receiver, and in June,’86, a decree of sale was made in
1884.
1885.
1886.
1883.
favor of Carnegie Bros. Stook, $1,000,000. Henry W. Ford, President,
391
391
391
391
Miles owned...............
15 Cortlandt St., New York. (V. 42, p. 753; V. 43, p. 334.)
Operations—
976,468
938,647
820,607
956,591
Passengers carried...
C o le b r o o k d a l e .—Owns from Pottstown, Pa., to Barto, Pa., 13
Passenger mileage ... 43,548,617 42,176,610 38,145,363 39,496,055 miles. Leased for 20 years from Jan. 1,1870, to Philadelphia & Reading,
2-091 cts.
2150 cts. at 30 per cent of gross earnings. Gross earnings in 1855-86, $ j5,528 ;
Rate $ pass. $ m ile. 2 217 cts. 2133 cts.
Freight (tons) moved 2,527,993 2,347.792 2,513,780 2,644,021 net earnings (30 per oent rental), $16,658. Gross in 1384-85, $44,905 ;
Freight (tons) mil’ge.408,436,350 397,678,278 428,691,881 423,545,587 net (30 per cent), $13,471. Capital stock, $297,215.
”
-------gÉ
0-633
0-577 cts. 0-679 cts.
Av. rate $ ton $ nule 0-751 cts. |— g cts. g ------ —
Colorado Central—(See Map o f Union P o e tic)—
Denver to Golden
$
$
$
Eaimings—
$
899,435
797,679
849,168 16 miles; Golden to State line, 106 miles; D nver Junction to La Salle,
Passenger...................
965,693
151 miles; and narrow gauge line from Golden to Georgetown, 34
2,518,873 2,471,863
,877,157
3,068,717
Freight.......................
194,165 miles, and Forks Creek to Central City, 11 miles; leases line from
186,865
182,038
Mail, express, A c.. ..
178,697
Colorado Junction to Wyoming State line, 9 miles; total operated, 327
3,920,490 miles. Chartered in 1865, and main line opened in 1870. It is owned by
3,600.346 3,456,407
4,213.107
Total gross earn’gs.
2,699,361 the Union Pacific. The new mortgage bond was issued to take up the
2,875,853 2,812,182
Oper. exp. A ta x es... 3,143,526
old 8 per oent bonds, of which $87,000 are yet out. Stock, $6,230,300.
644,225
1,221,129 Gross earnings in 1885, $1,320,765; diet, $299,443; interest, $336,030;
724,493
1,069,581
Net earnings..............
defloit $36,536. In 1886, gross earnings, $1,391,215; net, $414,112 ;
INCOM ACCOUNT.
E
interest, $336,030; surplus, $78,082.
C olu m bia Sc G reenville (S. C .)—
The company owns from
1886.
1884.
1885.
1883.
Columbia to Greenville, S. C., 143 miles; branches to Abbeville an«1
$
$
Receipts—
$
$
Anderson, 21 miles; total 164 miles. Also owns Laurens RR.. 31 nines;
724,493
1,221,129
644,225
1,069,581
Net earnings...........
Blue
32
211,396
213,032
263,626 and leases TotalRidge RR., 296miles, and Spartanburg Union & Col. RR->
129,497
Rentals and interest
69 miles.
operated,
miles. The Greenville A Columbia roa a
13,805
165,531
was sold in foreclosure April 15, 1880, and reorganization was mad®
949,694
857,257
1,484,755 under this name; preferred stock, $1,000,000; common stock, $1,000,1,364,609
Total income . . .
INCOME ACCOUNT.

Net earnings...................................




1883.
$500,043

1884.
$445,937

M arch ,

1887.

RAILROAD STOCKS AND BONDS.

31

Subscriber* w ill confer a great favor by giving Im m ediate notice «1 any error discovered n thaie Table«
DESCRIPTION.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, o*1
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
of
Pai
Rate per When Where Payable and by Slocks—
Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Oolebrookdale—1st mortgage.....................................
13 1868 $100Ao.
$600,000
6
J. A D. Phila., Phil. A R. Office. June 1, 1898
Colorado Central—1st mortgage, new......................
323 1879
4,701,000
1,000
7 g. J. A J. Boston, Treas.’s Office. July, 1909
Columbia dt Greenville—New mort.,g’ld,coup. or reg 164 1881
2,000,000
1,000
6 g. J. A J. N. Y., Nat. Park Bank. Jan. 1, 1916
2d m ortgage..:......................................................... 164 1881
1,000
1,000,000
6
A. A O.
April 1, 1923
do
do
Columbia dt Port Deposit—1st mortgage...................
40 1868
1,000
1,882,000
7
F. A A.
Phila., Penn. RR.
Feb. 1, 1893
Columbus <* Ctnn. Midland—1st M., coupon...........
£
71 1884
1,000
2,000,000
6
J. A J. N.Y., Farm’s’ L.ATr.Co. Jan. 1, 1914
324
Columbus Hocking Valley dt Toledo—Stock..............
100 11,700,500 1338 st’k
Aug. 19, 1885
Consol, mortgage, gold (for $14,500,000)............. 324 1881
1,000
8,000,000
5 g. M. A 8. N. Y., Window, L. A Co. Sept. 1. 1931
General M., g „ on road A Hocking Coal & RR. Co. 327 1884
2,030,000
1,000
do
do
June 1, 1904
6 g- J. A D.
Col. A H. V. 1st mortgage, sinking fund bonds.. 121 1867 500&C.
1,401,000
7
A. A O.
do
do
Oct. 1, 1897
121 1872
Col. & H. V. 2d mortgage bonds...........................
1,000
777,000
7
J. A J.
do
do
Jan. 1, 1892
Columbus A Toledo, 1st mortgage cob pon, s. f ___ 118 1875
1,000
2,474,000
7
F. A A.
do
do
Aug. 1, 1905
do
2d mortgage coupon, s. f ___ 118 1880
1,000
479,000
7
M. A S.
do
do
Sept. 1, 1900
Ohio A W. Va., 1st M. (s. f. $15,000 begins in ’86)
85 1880
1.000
1,584,000
7
M. A N.
do
do
May 1, 1910
Columbus Springfield dt Cincinnati—1st mort.......
45 1871
1,000
1,000,000
7
M. A S. Bost.,3 Merchants’ Row Sept. 1. 1901
Columbus dt Western—1st mort. (end. by Cent. Ga.)
60 1881
1,000
800,000
6
J. A J. N. Y., Nat. City B’k.
Jan. 1, 1911
Columbus <t Xenia—Stock........... ..............................
55
....
50
1,786,200
2
Q .-M .
Columbus Treasury.
Mar. 1Ó, 1997
1st mortgage:...........................................................
55 1860
1,000
302,000
7
M. A S. N. Y., Am. Exoh. N. B’k Sept. 1,1890
142
Concord—Stock............................................................
50
1,500,000
5
M. A N. Bost. ¿Manchester ,N.H. Nov. 1, 1886
Concord <t Claremont—Bonds.....................................
71 1874 500 &e.
500,000
7
J. A J. Bost., Treasurer’s office
1894
Concord dt Portsmouth,—
Stock, guaranteed.............
41
....
100
350,000
31« J. A J. Bost.AMauohe8ter,N.H. Dec., 1886
Connecticut Central—1st mortgage, cp. or reg...........
29 1875 500 &o.
325,000
7
A. A O.
New York City.
Oct. 1, 1895
Connecticut dt Passumpsic—
StooK..............................
147
100
2,500,000
21« F. A A. Boston, 95 Milk Street Feb. 1, 1887
Mortgage bonds........................................................
110 1873 100 &c.
1,500,000
7
A. A O.
do
April 1,1893
Mas awippi st’k, guar, same div. as Conn. A Pass.
...
37
100
400,000
21« F. A A.
do
Feb. 1, 1887
s do
bonds, guar, by Conn. & Pass............
37 1870
1,000
400,000
6 g. J. A J.
do
Jan. 1, 1890
Newport A Riobford bonds, guar, by C. & P ..........
22 1881
1,000
350,000
5
J. A J.
do
Jan. 1, 1911
Connecticut River—Stock.............................................
80
100
2,370,000
2
Quar. Boston, Springfield, Ao. April 1, 1887
Connecting (Phila.)—1st mortgage...........................
7 1864
1,000
991.000
6
M. A S. Phila., Peun. RR. Office. 1900-’l-’2-’3-’4
Consol, RR. o f Vermont—1st mortg. (for $7,000,000) 185 1883 100 Ac.
6,000,000
5
J. A J. Best., Am. Loan A Tr.Co. July 1, 1913
Missisquoi Railroad bonds.......................................
1871 500 Ac.
500,000
7
.1. A J. St. Albans, W. C. Smith. Jan. 1. 1891
com ing Cowanesque dt Antrim—Debenture bonds..
78 1383
1,000
1,250,000
6
M. A N. Phila. F. I. T. A S. D. Co. May 1, 1898
Covington dt Macon—1st M., gold (812,<>00 per m.).
1885
1 000
1,224,000
6 g. M. A S.
New York Ageuoy.
Sept. 1. 1915
000; all in $100 shares A majority of the stock was held by the Rich­
Concord Sc C la rem on t.—
Owns from Conoord to Claremont*
mond A West Pt. Terminal Co., and in May, ’86, this road was lease l to N. H., 56 miles; branch, Oontoocookville to Hillsborough, N. H.
the Rich. & Danville RR. Co. The gross earnings on all lines in 1884-85 15 miles; leased —
Peterboro A Hillsboro RR., 18 miles; total operated*
were $724,316; net, $345,176; inter«st and rentals, $243,166; surplus, 89 miles. Capital stook. $410,900. Operated by Boston & Lowell RR*
$102,009. In 1885-6, gross earnings, $655.* 31; net, $211,833; interest Co. at a rental of $41,500 per year.
and rentals, $.’51,418; deficit, $36,585. iV. 42, p. 2 1 ; V. 43, p. 718.)
Concord & P o r tsm o u th .—
Owns from Portsmouth; N. H., to
Colom bia Sc P ort D eposit.—Owns from Columbia, Pa., to
The road was sold to first mort­
Port Deposit. Md., 10 miles. Leased to and operated by Pennsylvania Manchester N. H., 4 0 hj miles.
r r . Co. Rental, net earnings. Rental in 1885, $33,150; in 1886, $S1,- gage bondholders in 1857, and leased to Concord RR. in 1858. Lease
$lo7. Capital stock, $497,100; funded debt, $1,882,000, and floating rental is $25,000 a-year, which gives 7 per oeut a year to present stock­
holders. There is no debt.
debt (coupons), $1,004,290.
Columbus Sc C incinnati M id lan d . Line of road, Columbu*,
Connecticut C entral.—Owns from East Hartford, Ct., to Massa­
O., to Clinton V a l, O., 71 m. Opened in Nov., ’8 1. Stock, $2.0 )0,000. chusetts State Line, 20 miles; branch from Melrose to West Street, Ct., 7
Bonds are 8, cured by a 50-years traffic agreement with the Baltimore miles; total operated, 28 miles. Leased to New York & New England RR.
A Ohio and Cin. W. & Balt, companies. Net earnings from July 1, for 15 years from June 1,1880, the rental to be net earnings, but never
1885, to Jan. 1,1886, $44,500. Orland Smith, Pres., Cincinnati, Ohio.
to exceed 6 per cent per year on stook. Capital stook, $448,oOO. Funded
Columbus H o c k i n g V alley & T o l e d o . —(See Map.)—Owns main debt, $325,000, all owned by New York A New England Railroad,
line from Toledo to Pomeroy, 257 miles; branches—Logan to Athens, 26; and on suit for foreclosure by the lessee company it was held that they
Logan to Straitsville, 13; Straits’e to Nelsonville, 17; others, 14; total,328. must aocount lo stookholiers for the earnings. Gross earnings in
This was a consolidation in July, 1881, of the Columbus A Hock­ 1885-6, $81.912; net, $1.812; interest, $22,750; defloit, $20,933. (V.
ing Valley, Columbus & Toledo, and Ohio A West Virginia. The stocks 42, p. 463, 766; V. 44, p. 275.)
of those companies were purchased and new consolidated stock for
Connecticut Sc P assu m p slc.—Owns from White River Junotlon*
$20.000,000 authorized; in August, 1885, a sto^k dividend of 133s per Vt., to Canada Line, 110 miles; leased, Massawippi Valley and branch
cent was made, bringing the total outstanding up to $11,700,000. Of (Canada), 37 miles; total operated, 147 miles. The lease of Massawippi
the consolidated mortgage $6,500,000 was reserved to meet the prior Railroad is at 6 per cent on bonds and same dividends as are paid on
liens, and the “ Hocking Coal dt RR.” joined in making these bonds. The the stock of the lessee. In 1886 $225,000 new stook was issued and
Central Trust Co. cf New York is trustee. The gene -al mortgage of 1884 the floating debt paid off. Fiscal year ends June 30. Abstraot of last
covers the road, and is also a mortgage on the coal property of the report in V. 43, p. 308. Gross earnings in 1834-85, $797,523: net,
“ Hooting Coal & RR. Co.,” whose stock is owned by the C. H. & T.
$299,415. Gross in 1885-86, $758,930; net, $286,981. (V. 43, p. 3 08.)
A combination was made in 1885 with the reorganized Ohio Central
Connecticut R iv e r.—Owns from Springfield, Mass., to South Ver­
by whioh the company will be under one management, as per the circu­
lar in V. 40, p. 59 7, and the C. A H. V. guarantees the interest on the non, Vt., 50 miles; branches, 6 miles; leased Ashuelot RR., South
Vernon, Vt., to Keene, N. H., 24 miles; total operated, 80 miles. Fisoal
T. & O. C 1st mortgage bonds.
The earnings of 1884 were greatly reduced by the miners’ strike in year ends September 30. Net earnings, 1885-86, $270,213; 1884-85,
the Hocking Valley, lasting from June, 1884, to March, 1885. Annual $272,222. Pays regular dividends on stock and has no funded debt,
report for 1885 in V. 42, p. 517; income for three years was as follows: but notes payable, $50 >,000. (V. 43, p. 547.)
INCOME ACCOUNT.
Connecting (P h ila d elp h ia ).—Owns from Mantua Junction to
1883,
1884.
1885.
Frankford Junction, Pa., 7 miles. A connecting link in Philadel­
Total gross earnings...................... $2,779,382 $1,842,473 $2,311,003
phia to the West and South. Operated by Pennsylvania Railroad.
Operating expenses and taxes .. . 1.655,570
1,240,654
1,333,697 Rental, 6 per cent on capital stook ($1,278,300); and interest on funded
Net earnings.......................... $1,123,812
$601,819
$977,306 debt ($991,000). The bonds are issued in series A B C and D, maturing
respectively in 1900-’l , ’2, ’3 and ’4.
Disbursements Interest on bonds and car trusts..
866,060
866.060
881,561
Consolidated
o n t.—Road owned—Windsor,
Other interest and miscellaneous..
59,353
79,091
85,978 Vt., to Burlington, R a ilro ad o f V ermJunction to Rouse’s Point. 65;
Vt., 120 miles; Essex
Total disbursements................ $924,413
$945,151
$970,542 total, 185 miles. Leased—Addison RR., 16 miles; Montpelier & White
Balance............................................ sur. 199,399 def. 313,332
sur. 6,761 River RR., 6; Montreal A Vt. Junction RR., 26; Rutland RR., 12 0 ;
-tV. 42, p. 93,304, 517,782,783; V. 43, p. 452, 196; V. 44, p. 90,117, Stan. S. & Ch. RR., 43; Vermont & Mass., 2 1 ; New London No., 100
Brat. & Whitehall RR., 36. Total owned, leased and operated* 553
148, 211, 275.)
Columbus Springfield Sc C in cin n ati.—Owns from Columbus, miles. isControls also the Ogdensburg & Lake Champlain RR.
This the title of the corporation formed on the reorganization of the
Ohio, to Springfield. Ohio, 44 miles. Leased with Cincinnati Sandusky
and Vermont A
in 1833. On
& Cleveland to Indiana Bloomington A Western, May 1,1881, for 33i3 Central Vermont receivership wasCanada companies order of Court July
1,1884, the old
and
per cent of gross earnings, with guarantee of $80,000 as minimum. the transfer made to the Consol, of finally closed by leased all its roads
Vermont, which
Of the excess over minimum, if any, on 33i3 basis, this company takes in perpetuity to the Central Vermont RR. Co. Preferred stook is $750,one-fifth and Cincinnati Sandusky A Cleveland four-fifths. Capital 000, with preference of 6 per oent per annum if earned ; common stock,
stock, $1,000,000, and bonds, $1,000,000.
Columbus Sc W e ste rn .—
Owns from Opelika to Good water, Ala. $350,000. In July, 1885, the Grand Trunk of Canada purchased a con­
fcO miles, and Columbus to Opelika, 29 miles—total 89 miles. The trolling interest in the stook. The Central Vermont, which operated all
Savannah A Memphis RR. was foreclosed June 5,1880, and this Com­ this mileage in 1885, reported earnings as $2,533,938 gross ana $795,444
pany organized. Extension was in progress from Good water to Birming­ net; rent of leased lines $357,750; interest an 1 taxes, $389,633; sur­
ham, Ala. The bonds are endorsed by Cen. RR. of Georgia. There are plus, $48,061. (V. 43, p. 274, 308.)
Corning Cow anesque Sc A n trim .—Owns from Coming, N. Y .,
also $260,000 bonds at 8 p. c. due Oct., 1890, int. A. and O. Gross
earnings in 1883-84, $176,315; net. $62,076; interest paid, $63,820. to Antrim, Pa., 53 miles; branch, Lawrenceville to Harrison Valley,
Gross In 1884-5, $173,442; net, $53,98 7. Stock, $1,750,000. W. G. Pa., 32; total operated, 85 miles. Consolidation (January, 1873)
Raoul, President, Savannah.
of the Blossburg & Coming RR. and the Wellsboro RR. June 1, 1874,
Columbus Sc X e n ia .—Owns from Columbus, Ohio, to Xenia, Ohio, the Cowanesque Valley RR. was absorbed. These lines are leased to ana
55 miles. Is operated as a division of the Little Miami, and is leased operated by the Fall Brook Coal Co., together with 7 miles owned.
for 99 years in connection with that road to the Pittsburg Cincinnati A Rental paid—6 per cent on bonds, 6 per cent on common stook and 7
St. Louis, whioh pays 8 per cent on stock and provides for the bonds. per cent on preferred stock; dividends paid quarterly, March 31, Ac.
The lease is guaranteed by the Pennsylvania Railroad Company. The Stock—common, $1,500,000, and preferred, $500,000. The coal line of
Columbus & Xenia pays 8% per cent dividend per a.mmm
Phila. & Reading and N. Y. Central is over the road of this company,
C °n c° r d .—Owns from Concord, N. H., to Nashua,N. H., 35 miles; which jointly guarantees the bonds of the Pine Creek Railroad
Manchester A North Weare, 19 miles ; Hookset Branch, 7 miles ; leased— Company. Earnings in 1883-84, $591,627; net, $171,753; rental
concord A Portsmouth, 41 miles ; Suncook Valley, 20 miles ; Nashua paid C. 0. & A. RR., $L50,000; surplus to lessee, $21.757. Earnings in
Acton & Boston, 20 miles; Manchester & Keene RR., 30 miles; total 1884-85, $307,595; net, $179,195; rental paid C. C & A,$L5O,o00;
operated, 172 miles. Fiscal year ends March 31. Annual report, in V. surplus to lessee, $29,195. George J. Magee, Prest., Watkins, N. Y.
42, p. 7o2. Income account was as follows :
C o v in g t o n dt M a c o n .—Line of road, Macon. Ga., to Athens, Ga.,
INCOME ACCOUNT.
92 miles; with other lines projeete 1. Bonds are issued at the rate of
1882-83.
1883-84
1884-85.
1885-86. $12,000 p :r mil *a id capital stock $12,'.'00 per mile. Bonds offered in
•
Gross earnings.......... $1,317,880 $1,142.894 $1,100,834 $1,071,963 New York, 1836, by Green & B item a i. Douglass Green, is President.
Net earnings............... $430,318
$476,190
$406,379
$452,573
C u m b e r la n d dt P e n n s y lv a n ia . -Owns from Cumberland, Md.,
Disbursements—
to Piedmont, Md., and several brandies, 55 miles. It is owned and
Rentals........................ $148,872
$144,593
$113,319
$112,532 operated by Consolidation Coal Co., which guarantees second mortgage.
Taxes on stock.. . . ___
33,798
37.360
37,755
36 872
C um berland V alley.—Owns from Harrisburg, Pa., to Potomac
Improvements, Ac.. .
97,234
143,236
104,091
152,314 River, Md., 82 miles; leased—Martinsburg & Potomac RR., 12 miles;
Dividends, 10 per cent. 150,000
150,000
150,000
150,090 Dillsburg& Mechanicsburg RR., 8 miles; Southern Pennsylvania RR.,
23 miles; controlled, Mont Alto RR., 18 miles, but accounts kept sep­
Total disbursem’ts. $429,934
$475,189
$405,165
$451,718
Balance....................... Sur. *3*4 Sur. $1,001 Sur. $1,214 Sur. $855 arate; total controlled and operated, 141 miles. Owns or leases sev­
eral factory roads, in all about 43 miles. The stock is owned in large
—«V. H p, 7 5 2 ; V. 43, p. 210,
part by Penn. RR.Co. Large advances have been made to branch roads.




38




INVESTORS’

SUPPLEMENT.

[Voii. XLiv.

BO.NDS.
RAILROAD STOCKS AND
M ar ch , 1887.




40

INVESTORS’

SUPPLEMENT

fV O L .

XLIV,

Snbacriberi w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, ^When Due.
Amount
For explanation of column headings, &c., see notes of
Par
of
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Road. Bonds. Value
on first page of tables.
Whom.
Dividend.
Cent.
Cumberland A Pennsylvania—1st mortgage...........
2d mortgage, sinking fund, (guaranteed)...............
Cumberland Valley—Stock ($484,900is preferred).
1st mortgage..............................................................
2d mortgage, sinking fund guaranteed..................
Southern Pennsylvania, 1st mortgage, gold . ...
Danbury ¿Norwalk—Stock........................................
1st and 2d mortgages..............................................
Consolidated moitgage............................................
General mortgage................................................ ;..
Dayton A /roaion^First mortgage, g old ..................
Dayton A Michigan—Com. stock (3*8 guar.C.H.&D.)
Preferred stock, (8 percent, guar. C. H. & D .)_
_
3d mortgage..............................................................
Consol, moitgage, guar, by C. H. & D....................
Toledo Depot 2d m ortga ge..................................
Dayton A Union—1st mortgage..................................
Income mortgage bonds...........................................
Dayton A Western—1st M., guar. L. M. and C. & X .
Delaware—Stock...........................................................
Mortgage bonds, convertible, guar. P. W. & B _
_
Delaware A Bound Brook—Stock, guaranteed.........
1st mortgage..............................................................
2d mortgage debenture bonds, reg.........................
Delaware Lackawanna A Western—Stock...............
Consol, mort., on roads & equipm’t, ($10,000,000)
Plain bonds (not mortgage).....................................
Del. Maryland A 7a.—June. & Breakwater—1st M.
Juno. & Breakwater, 2d mortgage........................
Breakwater & Frankford, 1st mortgage, r e g .......
Worcester Railroad, 1st mortgage, coupon...........
Denver A Rio arande—
Stock ($45,500,000).............
Pref. stook, 5 per ot.. non-cum. ($23,000,009)___

38 1866
38 1868
82
52
52
24
36*2
33 ’70-’72
1880
36*2 1883
155 1985
141
141 1871
142 1869
142 1881
1864
32 1879
1879
41 1864
100
85 1875
31
27 1875
....
886
288 1877
1872
44 1860
44 1879
19 1873
35 1876
1.317
....
1.317

$1,000
1.000
50
500&C.
500 &c.

$803,500
392,000
1,777,850
161,000
109,500
625,000
50
600,000
100 &c.
400,000
100,000
100
150,000
1,000
1,300,000
50
2,403,171
50
1,211,250
1,000
351,000
1,000
2,324,000
53,000
1,000
225,000
1,000
173.000
1,000
495.000
25
1,537,060
500 &e.
650,000
1,692,000
1,500,000
192,000
” 50 26,200,000
3.074,000
1,000
600,000
400,000
250,000
200,000
400.000
100 38,000,000
100 23,650,000

Operations and earnings on the main line for four years past w ere:
/—
Div. p. ct.—
Freight (ton)
Gross
Net
Earnings. Earnings. Pref. Com.
Years.
Mileage.
Miles.
1883........ ......... 125
30,018.284 $793,063 $223.044
10
10
1884 ................125
768,332
27,965,208
213,333
9*2 9%
1885......... ........125
699.393
255.811
25,844,869
8
8
1886 ....... ........ 125
733,703
196,285
8
8
D anbury Sc N o rw a lk .—Owns from Danbury, Conn., to Wilson
Point, South Norwalk, Conn., 26*2 miles; branches to Ridgefield and
Hawley ville, together 10 miles; total operated, 36*2 miles. In July,
1886, a lease of this road was made to the Houeatonie for 99 years, the
lessee to pay interest and 5 per cent per annum on stock. In 1885-86
net earnings were $92,510 ; in 1884-5, $80,129. (V. 43, p. 334.)
D ayton Sc Ir o n to n .—Road from Dayton to Ironton, 155 miles.
This company was organized in 1884 as successor to the Southeaster n
^Division of the Toledo Cm. & St. Louis BB., sold in foreclosure June 2 6,
1884. The narrow gauge is changed to standard, and the total author­
ized Issue of bonds is $1,700,000, including $400,000 reserved to pay
old claims. Preferred stock is $2,600,000; common stock, $2,500,000. In
Nov., 1886, It was reporte 1 that the Cia. Ham. & Dayton had purchased
control of this road. (V. 42, p. 487; V. 43, p. 102, 579.)
D a y t o n Sc M ic h ig a n .—Owns from Dayton, O., to Toledo, O., 141
miles. Leased May 1,1863, in perpetuity to the Cincinnati Hamilton &
Dayton. Lease amended January 23,1870. The rental is the interest
and sinking fund of debt, and 8 per cent on preferred stock and 3*2 per
cent on'¡$1,003,300 common. Or the common stock $1,003,300 only is
iiaranteed 3*2 by C. H. & D. Profit to lessee in 1883-84, $161,990;
884-85, $196,387 The lessees hold $1,399,273 of the common stock.
D ayton Sc U n io n .—Owns from Dodson, Ohio, to Union City, Ind.,
32 miles; leased Dayton to Dodson, 15 miles; total operated, 47 miles'
The Greenville & Miami RR. was sold out Oct. 30,1862, ind re-organized as now in Feb, 1863. Operated by trustees since December, 1871.
^Capital stock, $86,300. In 1883-4 gross earnings were $136,633; net,
$41,136. In 1834-5 gross earnings, $135,140; net, $45,694.
D ayton Sc W e s te rn .—Owns from Dayton, O., to State Line, Ind.,
37 mues. Leased in perpetuity from Jan. 1, 1865, to Little Miami,
and carried with that road in the general lease to the P. C. & St. L. The
lessees are virtual owners and are answerable for all obligations.
D e la w a re .—
Owns from Delaware Junction (P. W. & B.), Del.,to
Delrnar (Md. Line), 84 miles; branohes, 16 miles; total operated. 100
miles. The Dorchester & Delaware and Queen Anne & K. railroads
now operated by P. W. & B. RR. The Delaware Railroad was opened
1855-60, and is leased for 21 years from 1876 to the P. W. & B.
C o.; rental 30 per oent of gross earnings, but stook must have 6 per
cent. Gross earnings 1885-86, $671,738; net, $201,522; interest and
dividends, $130,734; surplus, $70, >47; 1884-85, gross, $144,117; net,
$193,225; inteiest and dividends, $130,734; surplus, $62,501.
D elaw are Sc R ound R r o o k .—Owns from Bound Brook (Cen
of New Jersey) to Delaware River, 27 miles; branch, main line to
Trenton, 4 miles; total operated, 31 miles. In connection with Central
of New Jersey and North Pennsylvania forms a line between New
ifork and Philadelphia. In May, 1879, the property was leased for
990 years to the Philadelphia & Reading Railroad Company—the lessee
paying interest and 8 per oent on stock after May, 1883. Gross earnings
In 1885, $689,432; net, $381,916. In 1886, gross, $736,110; net,
$397,829; rental $257,830; net profit to lessee, $139,949. (V. 44, p.
211.)
D ela w a re L a ck aw an n a Sc W estern .—(Sec Map). —
This oomp.iny
operates under lease an extended system of roads in New York, Penn­
sylvania and New Jersey. Owns from Delaware River (N. J. line) to New
York State line. 115 miles; branches—Scranton to Northumberland,
80 miles; Greenville to Winton, Pa., 8 miles; to Storrs, 3 miles; Junction
to Keyser Valley, Pa., 5 miles; leased lines in New York—N. Y. Lack. &
Western RR., 214 miles; Cayuga < Susquehanna RR., 3 4 miles;
&
Greene RR. 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica
Chenango & Susquehanna Valley RR., 97 miles; Valley RR., 12 miles;
controlled and operated—Syraouse Binghamton & New York, 81 miles;
leased lines in New Jersey—Chester RR., 10 miles; Morris & Essex, 118
miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex, 30
miles; Passaic & Del., 14; total operated, 886 miles; the Rome & Clin.,
13 miles, and Utica Clin. & Bing., 3 1 miles, were surrendered April, .1883.
In 1882 the important connection to Buffalo, the N. Y. LacK. & West,
was opened, and the road was leased by tiiis company. The Lackawanna
& Bloomsburg was consolidated with this company June 19,1873.
The Delaware Lackawanna & Western Railroad publishes no annual
report in pamphlet form but merely a circular showing income
account and. balance sheet. The road was operated mainly as a coal
carrier and distributer till 1882, when the line from Binghamton to
Buffalo was built and leased to the Delaware Lackawanna & Western,
and the company entered the field as a competitor of the trunk lines
between New York and Buffalo.
. The Delaware Lackawanna & Western formerly paid 10 per cent on its
stock, but its numerous railroad leases became onerous, and in the dull
times, 1876 to 1880, no dividends were paid: in 1880 3 per cent was
paid; in 1881. 6%; in 18.32,1883, and 1884, 8 ; in 1883,7%; in 1836, 7.
Prices of stock yearly since 1870 have been: 1871,102® 1118); 1872,
91®U2*2; 1873,7942 0106; 1874, 9931125%; 1875, 106*a®123; 1876.
644s ® 12038; 1877, 307s® 77; 1878, 41 ®61’ s; 1879, 43®94; 1880,6842

T




6
6
2*2
8
8
7 g.
2*2
7
6
5
6 81%
2
7
5
7
7
6
6&7
3
6
2
7
6
1%
7
7
4
4
4
4

M. & S.
M. & N.
Q .-J .
A. < O.
fe
A. & O.
M. & S.
F. & A
J. & J.
J. & J.
A. & O.
J. & J.
A. & 0.
Q .-J .
A. & 0.
J. & J.
M. & S.
J. < D.
fc
J. & D.
J. & J.
J. A J.
J. & J.
Q .-F .
F. & A.
M. & N.
Q .-J .'
M. & S.
J. & D.
J. & J.
F. & A.
J. & J.
A. & O.
•• •
•

N.Y., Consol.Coal Office March 1,1891
May 1.1888
do
do
Phila. and Carlisle. Pa. Jari., 1887
Phila., T. A. Biddle & Co. April 1, 1904
April 1, 1908
do
do
Mar. 1. 1900
New York and Danbury Feb. 15, 1887
1890-92
N. Y. Nat. Bank Repub.
1920
do
do
N. Y .,B nkof Republic.
1925
Bost.. Intern’l Trust Co. Jan. 1, 1925
Oot., 1886
N. Y., H. S. Ives & Co.
Jan., 1887
do
do
Oct., 1888
do
do
Jan. 1, 1911
do
do
March 1, 1894
do
do
N.Y., Am.Exch.Nat.Bk. Dec. 1, 1909
After 1910
N.Y., Bank of America. Jan. 1, 1905
Jan. 2, 1887
Dover, Co.’s Office.
Phil., Fid. I.T.&.8.D. Co. July 1. 1895
Feb. 15 1887
Philadelphia.
Phila.,Guar.T.&SD.Co. May, 1905
Philadelphia.
N. Y., 26 Exchange PI. J a n .20,1887
do
do
Sept. 1.1907
do
do
June, 1892
1890
Philadelphia.
do
1899
do
1893
do
1996
—

31101*; 1881,107®131; 1882,116*40150*4: 1883. Illia® 131i2: 1884,
86%® 133*8; in 1885, 82i%@12958; in 1886,115® 144; in 1887 to March
19, 1313* «138.
The following is a synopsis of the company’s income account for
four years from the report in C h r o n ic l e , V. 44, p. 273.
1833.
1834.
1385.
1886.
$
$
$
$
Gross rec’ is, all sources. 32,819,606 31,311,932 31,091,677 32,312,865
Operating expenses ... 23,093,048 23,008,147 21,220,572 24,954,433
385,033
443,182
164,029
Betterments.................. 1,072,316
Total expenses___ 24,165,864 23,393,180 23,^63,754 25,118,462
Ne. receipts................... 8,653,742 7,918,-412 7,427,923 7,224,403
INCOME ACCOUNT.

1883.
Net receipts................... 8,653.742
Interest and rentals.... 4,946,94)

1884.
7,918,813
5,113,322

1885.
7,427,923
5,187,089

1886.
7,224,403
5,186,711

B ilance, surplus........... 3,706,799 2,805,4)0
Dividends ....................... 2,096,000 2,1.96,000
Rate of dividends........
8
8

2,240,834
1,965,000
7*2

2,037,692
1,834,000
7

275,834

203,692

Balance after divid’ds.. 1,610,799

709,490

GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.

Assets—
RR. buildings, equip
m’t. coal lands, &c..
Stks&bds »own’d,cost
Net cash & cur. aoc’ ts
Materials, fuel, &0...
Total....................
Liabilities—
S tock ...........................
Funded debt.............
Balanoes................
Surplus account.......
Total liabilities........

1883.
1834.
1885.
1888.
$
$
$
$
33,089,336 34,250,418 34,508,017 34,498,431
6,503,851
5,449,713
5,374,918 4,770,654
*447,987
*527,121
*357,562 *897,331
1,265,810
1,049,712
941,372 1,221,174
41,007,034 41,276,965 41,181,899 41,385,590
26,200,000 26,200,000 26,200,000.26,200,000
4,044,900
4,044,900 3,674,000
3,674,000
439,560
............
..... . . . .
■............
10,322,574 11,032,065 11,307,899 11,511,590
41,007,034 41,276,965 41,181,899 41,385,590

* Net balance between liabilities and assets.
—(V. 42, p. 155, 2 7 0 , 604; V. 43, p. 580; V. 44, p. 149, 212, 2 7 3 .)
D e la w a r e M a r y la n d Sc V ir g in ia .—Consolidation June l, 1883,
of the Junction < Breakwater, the Breakwater & Frankford and the
&
Worcester railroads. Road extends from Harrington to Rshoboth, Del.,
44 miles; Georgetown to Franklin City, Va., 54 miles; total 98 miles.
In July, 1885, the company passed into control of the Phila. WiL &
Balt. RR. and became part of the Penna. RR. system. Earnings for
1885-86, $149,357; net, $27,317; fixed charges, $50,000 ; def. $77,317.
D enver Sc R io Grande (3 feet.).—Owns a line from Denver
City, Colorado, via Pueblo, Salida, Guonison, Montrose and Grand
Junction, to the western boundary of Colorado, where it oonneots
with the Denver & Rio Grande Western, to Salt Lake City and Ogden,
making the distance from Denver to Ogden 771 miles, and from Pueblo
to Ogden 651 miles. Branches run to Leadville, Dillon, Red Cliff, Crested
Butte. Silver Cliff, Chaffee and Hot Springs; also from Pueblo to Silverton,
via Cucliara, Alamosa and Durango, with branches to El Moro,Española,.
Del Norte and Wagon Wheel Gap; total operated Nov., 188), 1,317miles
Default was made on the consol, mortg. interest due July 1,1884, and
foreclosure was made under that moitgage, and the road was sold July
¡2,1886. for $15,000,000. Reorganization was made July 12, 1836,
under the title of Denver & Rio Grande Railroad Co., and W. 8.
Jackson elected President.
Of rhe $42,000,o00 4 per cent consolidated gold bonds authorized
$6,382,500 were reserved to retire the old bonds when due; $6,900,000
retained for acquiring the Denver & Rio Grande Western or
to extend the Denver & Rio Grande to Ogden; and $6,142,500
belli in the treasury, which can be issued for future capital requirements
or the construction of branches, but only with the consent of pref. stock­
holders. Of the $15,500,« 00 common stock, $7,500,000 to be held to
acquire the Den. & Rio Gr. West., or to build the line to Ogden, and $4,350,000 of pref. stock reserved for the same purpose. .The rolling stock
is owned by the eo npan.v; and after reorganization the total annual
charge for interest on bonds was $1,349,775. The preferred stockholders
have the right till 1891 to elect two-thirds of the directors, unless divi­
dends ar-i paid our of net earnings for two full years o.i the preferred
stock, alter which the directors shall be chosen by all the stockholders.
Gross earnings for one month from Jan. 1 to Jan. 31, 1387, were,
$545.6 50, against $104,903 in 1886; net. $211,749, against $88,541.
Earnings, expenses and net income for four years were as follows, no
earnings or expenses of the Utah leased lines being included in 1884 or
1885:
1893.
1884.
1886.
1885.
Miles oper. Dec. 3 1 ...
1,679
1,317
1,317
$
$
$
$
6,738,077
Total gross earnings.. 7,361,546
5,552,103
6,119,054
4,227,417
Operating expenses .. 4,743,111
3,758,530
3,935,273
Net earnings............... 2,618,435
P.c. of exp. to earn’s.
64-43

1,793,573
_ _ 7'70

2,183,781
64-31

2,510,660
......

RAILROAD STOCKS AND BONDS.

M a r c h , 18 87.]

41

Subscribers w ill confer a great favor by givin g Im m ediate notice
DESCRIPTION.
Miles Date
For explanation of column headings, &e., see notes of
of
on first page of tables.
Road. Bonds
Denv. A Rio Grande—( Continued)—
1st mort., gold, sinking fund.................................. 295 1870
Consol, mortgage, gold (for $42,000,000)............. 1.317 1886
Denv.<£ R. Gr. West.—1st, g. ($16,000p.m.),cp.or reg. 370 1881
Coupon certificates (see V. 41, p. 2 7 3 )..................
1885
Denver South Park A Pacific—stock.......................... 274
1st mortgage, gold, sinking fund............................ 150 1876
Consol, mort. gold ($17,000 per mile)...................
1880
Denver Texas A Gulf—1st M. (for $12,000,000)___
1885
Des Moines A Ft. Dodge—1st mort., coup., guar.......
88 1874
1st mortgage, income, guaranteed by C. R. I. & p.
88 1874
Mortgage on extension, guaranteed by C. R. I. & P.
56 1881
Des Moines Osceola A Southern—1st M. ($6,000 p.m.) 111 1880
Detroit Buy City A Alp.—IstM., g. ($15,000p. in.).. 170 1883
Detroit Grand Haven A Milwaukee—S tock ................ 189
1st equipment mortgage, guar................................. 189 1878
Consolidated mortgage, guar................................. . 189 1878
Detroit Hillsdale A S. T .—Stock................................
F
65
Detroit Lansing A North.—Stock, oommon..............
261
Preferred stock.........................................................
261
1st mortgage.............................................................. 222 1877
Ionia & Lansing, 1st mort., coup., may be reg_
_
59 1869
Saginaw & West, mort., guar. ($15,000 per mile)..
32 1883
Dubuque A Dak.—1st M., gold. gu. (payable at 105)
63 1879
Dubuque A Sioux City—S tock ................................... 143
1st mortgage, 2d division...............................
*”
43 1864
Notes to retire 1st mortg. (redeem, at pleasure)!!
1888
Duluth South Shore A Atlantic— tock.....................
S
Stock, pref., 6 per cent......................................
1st mortgage, gold........................................ ! ! ! ! ! ! ! !
Land grant bonds (income)................................. " "
1881
Duluth A Winnipeg—1st mortgage, gold, 1
tod"grant
1881
2d mortgage, income..................................

Size, or
Par
Value.
$500*c.
1.000
1,000
300
100
1,000
1,000

Amount

Bonds—PrhaT
INTEREST OR DIVIDENDS.
Rate per When Where Payable, and by pal,When Due.
Stocks—Last
Cent. Payable
Whom.
Dividend.

$6,382,500
7 g.
22,575,000
i e‘
6.900.000
♦'6 g.
5
(1)
6,235,400
4
1.800.000
7
2.925.000
6 g.
In trust.
6
l.O K
C)
1.200.000
4
1.000
1,200,000
2*3
1,000
672.000
4
879.000
7
1,000
2.300.000
50
1.500.000
I® ’
1,000
2,000,000
6
200 <fec. 3.200.000
6
1.350.000
2
T oo
1,825,600
3
100
2.510.000
3ia
500 &o.
2.487.000
7
1.000
770.000
8
1,000
476.000
6
1,000
630.000
K
100
4,999,950
5 g500 &c.
586.000
7
295.000
5
12,000,000
10,000,000
4,000,000
"5 g .
1,000
4.550.000
7
1,000 18,000 p.m.
6 g.
7.000
p.m. . . . .

M.
J.
>i.
M.

* N. N. Y. Offloe, 47 Wm. st.
* J.
do
do
& S. N. Y., 4th National Bk.
& S
do
do
New York.
M.'&N. N.Y., London* Frankf’t
J. < J. N. Y., Co.’s Agency.
&
A. & 0.
J. & J. N. Y., Morton, B. &Co.
J. < J.
&
do
do
J. & J.
do
do
J. & J. Last paid Jan. 1885.
J. & J. N. Y., Farm. L.& Tr. Co
A.
A.
J.
F.
F.
J.
J.
J.
J.
A.
J.

& 'b. New York & London.
& O.
do
do
& J. N. Y., Farm. L. & Tr. Co
& A.
Boston.
& A.
do
& J. Boston, 2d Nat. Bank.
& J.
do
do
& J.
do
do
& J. N.Y., John Paton & Co.
& O. N.Y., John P aton*C o.
& J.
do
do

Noy. 1, 1900
Jan. 1, 1936
Sept. 1, 1911
At •will.
Aug. 15, lg80
May 1, 1905
Jan. 1, 1921
Oot., 1921.
June 1, 1905
June 1, 1905
Jane 1, 1905
1896
1913
Dec. 31, 1884
Noy. 14,1918
Noy. 15,1918
July 5, 1886
Feb. 15, 1887
Feb. 15, 1887
Jan. 1, 1907
July 1, 1889
July 1, 1913
July 1. 1919
Jan. 15,1887
July, 1894
1888

New York, Agency.
1936
A. & b .
Oot. 1, 1911
M. & N. N. Y., Central Trust Co. May 1, 1911

INCOME ACCOUNT.

1833.

Net earnings..............
Other receipts...........

2,618,435
114,531

1884.
$
1,793,573
34,401

Total Income...........
Disbursements—
Interest on debt........
Ren’lof D.R.G.W. RR.
Taxes and mlscellan’s

2,732,966

1,827,974

2,036,813
317,752
246,234

Receipts—

$

225',2Ï3 I

1885.
1887?’ < 6 420pr22,“ 49; v X T l o T s O S ^ * Ioreolo8ure Marcb
V
1886.
$
$
* A lp e
2,183,780 2,510,661 C®“ « ER-, to Alpena, 105 miles; n a —(See Map).—From Alger, on Mioh
Loon Lake Branch, 18
Lake
67,227
............ Planch, 20 in.; other brauches 27 miles; total road 170 m,; MudHas a
miles.
«rf n ?w -D
+hA0t fr0m Mi^ ’ Central. The mileage operated in 1886 was
2,251,007 2,510,661
Pzi<r L «'Z??f#, nnAea.ri' I1^8^ e^ $212,061; net, $120,420. Stock author
ized is $ “ ,0pi',u00, issued $1,533,000. The mortgage oovers roa l and
308IP
335ll343 f 16,000 per ^
< - 4=2, p. 728;V. 43, p. 572; V. 44?p.
v
572,364

\Tw-t?*y?,1
r
* M ilw a u k e e .—Owns from Detroit
the3
DAtrAi?iavni Hayen» Mmh., 189 miles. This is a reorganization of
& Milwaukee which was sold in foreclosure Sept., 1878. A
rettoe1 D e trd d T p n l Srst e<
'
luiPm® mortgage bonds is reserved to
nt
the
bond8 011 maturity. The bonds were guaranteed by
«31 ?afiA
a ai Canada- Gross eamiags in ‘.1885, $1,154,640; net,
in v l’f ^ p . ^ o 884’ gr° S8’ $1’ 254’391 > net>$333,626. Report for 1885,
’
- ,® eIrolt H illsd a le < Southw estern.—Owns from YDsilantl
fc
Mich., to Bankers, Mich., 65 miles. The Det. H. < Ind. road was sold
fe
tolderal0I^A i?g0i8fti 1i«7 4 ,d^d tMs company organized by the bonda ? ..t r81881, leased in perpetuity to the Lake Shore & Mioh
Southern Co.; the rental is $54,000 per year— p. ot. (V. 43, p. 399.) ’
4
D etroit L a n sin g & N orthern.—Owns from Grand Trunk
S W i K .
l884’ w - H- E“ croft was
City, Mioh., 157 miles; branches—Stanton Juno.
Bondholders have generally accepted the proposal of August. 1885 LVR?»
BeldingBranch, liflm iles; leased, Grand
J& .l& ft the coupons from Sept. 1.1886, to Sept. 1,1888?inclusive TW nk?uoid t’o^Tw;’^ 3
pai? 2n£ ] laU- m oasb and the coupon o f March, 1889, three trunk Juno, to Detroit, 3 miles; Lansing to No. Lansing. 1 mile- St
fourths cash, full interest being resumed with Sept., 1889. Scrip bearing Ccaf8,!"® Alma and Lake View, 36 miles; total operated, 261 miles! A
V '’ 1871>of the Detroit Howell & Lansing, the Ionia
5 per cent is given for the ooupons to Sept., 188o, and for the portion jiPt
fc
unpaid of those up to Sept. , 1889, this scrip may be redeemed at com- < Lansing and tne Ionia Stanton & Northern railroads, under the name
]to0187en^
1 “ ? Michigan RR., which was sold to foreclosure
Punt 8 0pt£ n by P ^ e n t in full, and no dividend on stock can be paid D e ? 6
lo
ci
487 . ^Sd Jiew stock issued as above. In July, 1883. leased
till it is redeemed. The full interest on bonds is $414,000, but under +nlC
We®tem and endorsed
bonds.
1888P $428,283 in 1889, and afterwards $253,575 in 1887, $263,925 in ^km^aginaw, report for 1885 was to the 42, p. 518, showing 7 tier oent
|?2S
«lo$2° 5
^68, ? In 1886, $414,000.
„«y1 6 annual
1
V.
lob»,
earned on toe pref. stook. Income account as follows :
» P®
the IX & R Q 6* an agreement was made to work harmoniously with
1882.
1883.
1884.
1885.
Miles of road oper’d..
225
260
261
u J il?iT 088 ¿arlllng8 for year 1886 were $1,057,093; net. $361 099
261
Darnings—
™dlaiL8tock since July, 1886, has been out of the expenses Passenger.................
$410,712
$452,778
$380,338
$344,372
866 iSSi
®/EPJKk an< V 188J ’ Sro88 earnings were $71,559, against Freight....................... 1,136,868
1,090,015
893,444
$>5i6^ ’ a? ainst «22.595. (V. 42, p. 93? 124, 186 207
824,933
49,562
53,651
304, 430, 447, 487; V. 48, p. 73, 244,|634,636; V. 44, p. 59, 60,91, 211. Mail, express, &c___
54,310
59,160
Total gross eam’gs. $1,597,142 $1,596,444 $1,328,592 $1,228,470
p?l?i1y eiV
.Soutl1 R a r b & P a c if ic (3 f t .) —(See Mao o f Union Expenses and taxes. 1,136 060
__________ _________ ■ 865,270
1,058,570
Col., t° ^atbrop, 137 miles; Natorop to Gunnison, 65
771,271
Netearntogs..........
$46i,oa2
15
0U C^ on!n “ P68: Garos to London Junction
flt
17
$537,874
$163,322
$457,199
in
Comoto Keystone, 35 miles; Bear Creek Junction to Morrison —(VV. 42, p. 186, 518.)
p ic k e y to Leadville, 34 miles; Como to Mines 4 3 s : o ® “ b ll*lu e & D a k o t a .—Owns from Waverly to Hampton. 41 miles
9 to Buena. Vista, 4 miles; total, 322 miles. First’ mortgage
Ia’d ° Waverly, Ia, 23 miles. Built on K i d g r ^ n g
18808th?U m,atithe ra,te of $12,000 per mile of finished road. In S e lf
r
e
^i^owa Pa$mc- The Dubuque & Sioux City Co. guarantees the bonds
waf made for $15,000,000, to be at $17^000 issued f or construction to the extent of $10,000 per mile. Bonds mav be
on the oW K w ? “ ’ °Id ^n n T ’ less the amount of 1st mortgage
a^ tlme at } 06stock $*20,000Tnd ordtoai^sfook
niUfK 0 a JSiSlS? owned by Union Pacific is $6,135,100 and consoi
Tnnrfa 5onds $2,797,000, and the Union Paciflo operates the road but has 1885:$T i783T net?f8an
/98 * 1884^ 71’720• net’ $23,073. g oss in
*
T
teres?
?iock or b°nds, and after paying unearned to
& S io u x C ity-{S ee Map o f Illinois Central).—Owns
g ^ f t j o r some years the Union Pacific on May 1 .18867at ^stofttered
udue>Icwa,
former Dubuaue A
™ Py^ehase the coupons, but subsequently paid them
In 1886 Pacijio was foreclosed to Iowa Falls, 143 miles. The organized Leased
to 1860, and present company
t o t S n! c $S3476803 ’ Tn^88^011 operatio? 8, $46,304; deficit1 u l4
Bum*8 Central
1,1867? for 20
ioq . $ 3 4 7 , 8 0 4 .
In 1885 gross earnings, $1,145,494; deficit to pay 35 per centfrom Oct.earnings for ten yearsl^he lessees aw lttog
of gross
years and 36 per cent for
6940 9
fl 1
d6r Intere8t« &0-’ $320,869. (V. 42, p. 519, 548, 631,
to make the lease perpetual at the latter
rate. Gross earnings in 1885, $809,472, against $945 950 in
—Projected from Denver, via Pueblo to the
6 rental from lessee $290,317 ; other inoome, $21,834; total net
and i o ??.P ^ v 8l*!lintie8>andtoJan.l, 1887, Denver to Pueblo 1°4 miles
’nnQterm f paid* $53,219; miscellaneous, $6,689; balance snr-’
Tbei e wa8 some contest for toe stock to 18w and stock6
S p L T 8e8IS f i ? ,vbe5 ?
.M u b ™
inih6 ? wer® invJi:ed to deposit their stook with Drexel, Morgan & Co
«
becanm embmr^pd and *9 oan AnnP 60T 1 ^ l,®8? tbe Construction Co.
A
were sold
and $2.286,000 bonds and $2,540,000 stock pledged with power to sell the stock at par or to make a new lease. *See V. 44,
Den * h i? the Mercantile Trust Co. on Sept. 20. On March 18 1886 p. ¿1. M. K. Jesup, President. (\ . 43, p. 766; V. 44, p. 21, 235, 362.) 9
000 “ dJ i la and ^ny organized B oi’ds8fre
S o u th S h o re Sc A t la n t ic —(See Map).—Owns from strAitn
T h fh ™ !1 „ rate0r $15,000 per mile, comP$15,000,000 is authorized ?n
' T ° f i ? 58
to Marquette, 152 miles. This roa<f is intended to form
readmebuiltto t o e ^ W °
D
0fTa tra8tee>to be beid «11 the t^ irA^^ocction with others to be built, a line along tne south shore nf
o
“ (V. 42? P 338, 393.) W* & D‘ C RR- Jno- Evans, Pres’t, Denver. and?i?aPA1
7
>
Tvr
a connection with the Canadian Paciflo
and Gra d Trunk at Sault Ste. Marie, and with Miohigan Central and
D^ g e . ™ ^ “ % ^ i]f f r ’^ f:P o d g e *70 ^ n8 |rom De8 Moines to Fort Grand Rapids Division of Pennsylvania R R . a t M^kinac Thi.
80
neettog with C h ic a c ^ M n ^ s t ^ o e. tea8ioa 56 miles to Ruthven, con ai!!?^arl^i,a^ owns tbe Marquette Houghton & Ontonagon Railroad
x
company is successor to the Detroit Mackinac & Marquette
ision of toe Des ^ o i ^ ‘ v J w a^
Rlr8l 87 miles originally a div1873. Common I t ^ k l l
RR-, built to 1870 and sold out to sold in foreclosure Oct. 20,1886. The D. M. &M land vrent waa
Sou
acres covered by toe land grant mortgage, exoept that
In N ovem ber f o a « 1
'oV’o i 3,000: Preferred, $758,280.
2
Bock I s S & pieiflA’
i ^ ? men7 was made for lease to the Chicago T
h
^
Were <
8ubJeot t0 a oertaln agreement, (fee V. 43, p! 634.)
earnings, with a vn arm i aa a*^?^8 a^ a re,1tal o t 30 per cent of the gross The plan of reorganization gave the old 1st mortgage bondholders twn.
hnnd? A elr boldin« 8 m Duluth South Shore * Atlantic lst m o r t ^
f^
b®
ad® a? d p? r ln “ c y P£ef. stock. Income bonds to receive pref. sfook
mm*
grant bonds retain their lien on the lands covered bvtheir
mort. and receive 35 per cent in new common stook. Old stook receives
f "a o
r
.
C
^
D- S- 8 -* Chicago earning
$219,138 , r t m^ A 8 k C. R. Cummings, A. GrossPresident.
net, $20,686.
..........
572 364
Total disbursements..
2,600,799
Balance,'surplus .. .
132,167
___! ! ! !
1,678|643
—(V. 42, p. 60, 93,197. 215, 304, 364, 430, 487, 575. 6 0 3 . 733- V 43
p. 49, 73,131, 487, 547, 608, 745; V. 44, p. 21, 59,117, 211, 244.)
D e n v e r A R i o G ra n d e W e s te r n ( n a r r o w g a u g e ).—The mort.
gage covered lines in Utah Territory of about 469 miles in all, of which
W ew erecom pletedto Jan., ’ 87,312 miles, Colorado State Line to Ogden,
Ut., 31.2 miies, Bingham Junction to Alta, 18 miles; Bingham Junc­
tion to Bingham, 18 miles; P. V. Junction to coal mines 19 miles; other
8 ,mpes—total, 370 miles. The stock issued on 469 miles is
$7,500,00°. About $1,000,000 bonds have been issued on road only par-

44, pri275deW Y° rk’ Vice‘Pre8ident- (y - 43, P, 274, 479, 515, 6J4;
I s ? t o ^
h
i c h
^
? ! 60^ ? « ’em Des Moines
CatoBville, Mo., is buUt In
’al
miles, Des Moines to bo®nd^v1t o i^ 2 ^ m fi? « P® i ^ Pr^ ected* from
to Manitoba
BR. to ADnl 180» a 'taaaiA - * .’ 84’ consolidated with Wis. Ia. & Neb. wWchts^uhlect tn
land grant amounts to 1,800,000 aores,
»
»
eceiver was appointed. Stock issued, $500,000;
W S p a l d S S e S d S t , D totoh l^ 886*
8t° 0k * *5’000’000- Wm,




49




INVESTORS’

SUPPLEMENT.

[V ol. X L iv

RAILROAD STOCKS AND BONDS
M^CH, 1887.]



44

INVESTORS’

SUPPLEMENT.

[Y ol .

x l iy

.

Subscribers w ill com er a g r e a t favor by s ir in g im m ediate notice or any error discovered in these Tables.
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size or
pal, When Due.
Amount
of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, &c.,see notes
Road. Bonds Value.
Payable
on first page of tables.
Cent.
Whom.
Dividend.
90
Dunkirk Alleyh. Valley A Pittsburg—1st mort., gold
90
2d mortgage...............................................................
90
3d mortgage..............................................................
30
East Broad Top.—1st mortgage, registered.............
36
East Pennsylvania—
Stock..........................................
36
1st mortgage.............................................................
East Tennessee Virginia A Georgia—Common stook. 1.123
1st preferred stock (5 per ot. non cum.)............. . 1.123
1.123
Consol, mort., gold (for $20,000,000) coup, or reg. 1.123
Consol, mort., * Divisional” bonds......................... 552
•
Old 1st mortgage sinking fund bonds.................... 242
95
Alabama Central, 1st mortgage, gold, coupon—
66
Knoxville & Ohio, 1st mort., gold............................
East A West Alabama — M., gold ($10,000 p. m.). 112
1st
Eastern (Mass.)—Stock................................................ 285
Essex RR.lst mort. (extended for 5 years in ’86).
Certificates of indebtedness, $ & £ ........................
Eastern (N. PL.)—Stock................................................
Eel River—Stock...........................................................
Elizabeth. Lex. A Big Sandy—1st mortg., gold..........
Elmira Oortland A Northern—1st pref. mort..........
1st mort.....................................................................
Elmira Jeff. A Canandaigua—Stock..........................
Elmira A Williamsport—Stock, oommon..................
Preferred stock..........................................................
1st mortgage bonds..................................................
Income Bonds, 999 years to run.............................
Erie A IHltsburg—Stock...............................................
2d mortgage, convertible........................................
Consol, mort. free of State tax (for $4,500,000)...
Equipment bonds.....................................................

16
94
110
120
120
47
77
77
77
100
811
«
100
100

1870
1870
1870
1873
1858
1886
1880
1870
1879
1885
1882
1886
1851
1876
1872
1884
1884

1860
1863

....

1865
1868
1870

$1,000 $2,000,000
1,000
1,000,000
1,000
200,000
1,000
500.000
50
1,714,950
100 &o.
495,900
100 27.500.000
100 11,000,000
18.500.000
1,000 12.770.000
1,000
3.106,000
1,000
3,123,000
1,000
1,000,000
1,000
2,000,000
1,000
800,000
100
4,997,600
100
3,150,000
100 &c.
194.400
500 &o. 10,000,000
100
492,500
100
2,792,800
1,000
3.500,000
750,000
1,250,000
100
500,000
50
500,000
50
500,000
1,000
1,000,000
500
570,000
50
1,998,400
91,800
lOO&c
1,000
2,485,000
685,000
1,000

D u n k irk Allegheny V aliev A P ittsb u rg. -Owns from Don
kirk, N. Y., to Titusville, Pa., 91 miles. A consolidation of the Dunkirk
Warren & Pittsburg and Warren & Venango in 1872. Is leased to N. Y.
Central & Hudson River Co., hut accounts are kept separate. Capital,
$1,300,000. There Is usually an annual deficit below the interest charge,
bat the N. Y Central & Hudson River Co. hold $2,920,000 of the securi­
ties. Gross earnings in 1883-81, $279,719; deficit, $21,200. Gross in
1884-85, $216,7 9b; defloit, $6,769.
B ast B road T o p (P a .)—Owns from Mount Union, Pa., to Robertsdale, Pa., 30 miles. A ooal road, opened in 1874. The stock is $815,602,
In 1884-85 gross earnings were $89,070; net, $16,003. In 1883-84,
gross, $85,539; net, $19,405.
E ast P en n sy lv an ia .—Owns from Reading, Pa., to Allentown, Pa.,
36 miles. It is leased for 999 years from May 1,1869, to the Philadel­
phia & Reading RR., at a rental of 6 per cent per annum on the stock
and interest on the bonds. Austin Corbin, President, Philadelphia.
E ast Tennessee V irgin ia A G eorgia.—(See Map.)—The East
Tennessee Virginia & Georgia Railroad was formed by a consolidation
July 20,1881, and owns the following: Bristol to Chattanooga, Tenn., 242
miles: Morristown to Unaka, 44 m.; Cleveland to Selma, 264 m.; Selma to
Meridian, 113 m.; Ooltewah to Coliutta, 11 m.: Rome, Ga.,to Macon, 159
ma Macon to Brunswick, 190 m.; Cochran to Hawkinsville, 10 m.; total,
1,033 miles. Also operates the Knoxville & Ohio road, 66 miles, the lines
of the Memphis & Chariest’n RR., from Chattanooga to Memphis, Tenn.,
810 m., ana the Florence and Somerville branohes, 20 miles, in all 330
miles, making a total of 1,429 miles.
A lease of the Mem. & Char. RR. was an operating lease simply, and
various differences were settled by the acquisition of a majority^ of the
capital stock of the Mem. & C. Co. by parties controlling theE. T.va.&Ga.
The E.T.Va.& Ga. holds a majority of the K. & O. stook.
In January, 1885, default was made on the oonsol. mortgage interest,
receivers were appointed, and the plan of reorganization was given in
the Ch r o n ic l e , v . 42, pp. 155 and 186, embracing the scheme of fore­
closure under the consolidated mortgage and the issue of a new 5
per cent mortgage for $20,000 000. The road was sold pursuant to this
plan on the 25th day of May, 1886, and reorganized as the East Tenn.
Va. & Ga. Railway Co., and the new stock and bonds stand as above.
The first preferred stock is entitled to a non-cumula ive dividend of 5
per oent, and has “ the right for five years (till 1891) to elect a majority
of the Board of Directors of said oompany, unless before ihat time the
paid oompany should pay out of its net earnings 5 per cent divi­
dends on such preferred stock for two full successive years.”
In January, 1887, a sale was made of $6,000,000 of the first pref.
stock to the Richmond & West Point Terminal Company, thus giviag
them control of the road for five years (See V. 44, p. llu .)
Gross earnings for seven months from July 1 were $2,814,332 in
1886-7, against 2,552,243 in 1885-6; net, $1,252,149 in 1886-7, against
$1,085,210 in 1885-6.
The fiscal year ends June 30. The annual report for 1885-86 was
published in the Chkoniclb, V. 43, p. 605;
INCOME ACCOUNT.

Receipts—
1883-84.
1884-85.
1885-86.
Total gross earnings...................... $4,173,263 $4,u21,567 $4,119,578
Net earnings................................... $1,650,308 $1,140,589 $1,382,751
Disbursements—
Interest on debt.............................. $1,402,995 $1,46->,651
............
Other payments.........................
49.617
209,967
............
Totaldisbursem'ts.................... $1,45-,6i2 $ l,o7«,6t8
............
Balance.................... sur.$247,313 def. $390,275
............
—(V. 42, p.60, 124, 155, 186,207,272,364.430. 463, 479, 549, 575, 631,
652,663. 604, 7„8, 782. 783; V. 43, p. 22, 125. 217, 598, 6 0 5 , 607, 634,
718,619: V. 44, p. 90,119,149, 181, 211, 343 )
E ast Sc W e d R R . Co. o f A la b a m a .—Road will extend from
Gainesville, Ga., to Birmingham. Ala., and branches, :0 , miles, of which
completed to July, 1686,112 miles; an extension of 9-3 miles is also con
templated. in addition to the above $800,000 bonds, $3> 0,0 t, more of
same issue are h In by several stockholders as a “ contingent” liability,
the interest charge being on the $8oo,0oo only. Income bmds for $3n(j,000 are to be issued for the floating debt. Stock ($1 >,OoO per mile
authorized),$1,109,000. Grossearoiugsin 1885, $130,110; net $49,892.
Eastern (illass.)—Owns from Boston, Mass., to New Hampshire
State Line, 41 miles; branches—
Salem to Marblehead, ■4miles; Bever
ley to Gloucester, 17 miles; Salisbury to Amesbury,
miles; Revere
to East Boston, 3*2 miles; Peabody to Wakefield, 8 miles; Sa.lem
to Lawrence, 20 miles; others, 22 miles; leased—Eastern RR. of N. H , lb
miles ; Newburyport City RR., 3 miles; Portland Saco & Portsmouth, 51
miles, Portsmouth & Dover, 11 miles ; Portsin. Gt. Falls < Conway, 73
&
miles; Wolfeboro Railroad, 12 miles; total operated. 285 miles.
In March, 1883, a lease of this road to the Boston & Maine was voted
for fifty-live years, but in November, 1884. this lease w*s decided to he
Illegal in some respects, and a new one was negotiated for 54 y ears
from Oct. 1,1883, on the basis of oombiniug the total earnings, paying
all charges, and dividing the surplus income as follows : 1. To B. & vi.,
$630,000 (9 per « cut on its stock) ; to Eastern, $100,000 for sinking
fund; to B. & M., *70,000; to Eastern, $336,000; balance to be spent
fv:




7 g. J. & D. N.Y., N.Y. Cent. & Hud.
A. & O.
do
do
7
A. & O.
7
do
do
4
J. & J. Philadelp’a, Co.’s Offioe.
3
J. & J. Phlla., by P. & R. RR.
7
M. & S. Phila., P. & R. office.
5 g.
5
7
6
6 g.
6
3
3
4>s
6 g.
2H
1
6 g.
6
3, 4, 5
3
21
«
3ia
6
5
1%
7
7
7

M. & N.
J. & J.
J. & J.
J. & J.
J. & J.
J. & D.
J. & J.
M & S.
.
M. & 8.
M. & 8.
J. & D.
Q .-M .
M. & S.
A. & 0.
J. & J.
M. & S.
M. & N.
J. & J.
J. & J.
A. & O.
Q .-M .
A. & O.
J. & J.
A. & O.

N. Y., Central Trust Co.
do
do
do
do
do
do
do
do
N. Y., Am. Ln. & Tr.Co
Boston.
do
Boston and London.
Boston, by Treasurer.
Boston, by Treasurer.
N. Y., Mills Building.
1 L5 B’way, New York.
do
do
Baltimore, N. Cent. RR.
Phila., Pehn. R. R. Co.
do
do
do
do
do
do
N. Y ., Union Trust Co.
do
do
do
do
do
do

Jane, 1890
Oot. Ì, 1890
Oct. 1. 1890
July 1, 1903
Jan. 18, 1887
Mar. 1, 1888

Nov. 1, 1956
July 1, 1930
July 1, 1900
July 1, 1918
July 1, 1925
Deo. 1. 1912
July 15.1873
Màr. 1, 1887
Sept. 15,1891
Sept., 1906
Dec. 15,1886
Aug. 15,1884
Mar. 1,1902
April 1, 1914
April 1. 1914
Mar., 1887
Nov. 1, 1886
Jan. 1, 1887
Jan. 1, 1910
Oot. Í, 286*
Mar. 10,1887
Mar. 1, 1890
July 1, 1898
Oct. 1, 1900

by lessee on both properties pro-rata. Mortgage notes are $684,300,
secured by real estate.
In Nov., 1886, the oompany offered to issue preferred 6 per oent stook
in exchange for $3,150.000 of oertifloatis of Indebtedness, at par, thus
reducing those certificates to $10,000,000, to enable the company to
resume dividends on the common stock, according to the agreement
under which the certificates were issued.
The last annual report for the year ending Sept. 30,1886, gave the
following result of operation with Boston & Maine. Surplus income
divided, In acoordanoe with the terms of the lease, as follow s:
To Bos. & M. To Eastern.
Boston & Maine Railroad (9 p. e.).......... ............$630,009
$ ............
Eastern Railroad........................... ............ ...........................
100,000
Boston & M line Railroad (1 p. o.)........ .. ...........
70,000
............
Eastern Railroad, balance........................ ............................
321,340
Total..................................................... ............$700,000
$121,340
-(V . 42. p, 694; V.43, p. 579, 634, 671; V. 44, p. 149,184, 276.)
Eastern (N . H .) —Owns from Portsmouth, N. H., to Seabrook
(Massachusetts State Line), 16 miles. It was formerly leased for 99
years to the Eastern (Mass.) Railroad, and a new lease was made from
Oct. 1,1878, for 60 years and two months at $22,500 per year, equal to
4 ^ per cent per annum. Moody Currier, President, Manchester, N. H.
E el R iv e r.—Owns from Logansport., Ind., to Butler, Ind., 94
miles. This was formerly the Détroit Eel River & Illinois Railroad,
sold under foreclosure July 6, 1877, and reorganized under present
name Dec. 10,1877. In August, 1879, it was leased to the Wabash St.
Louis & Pacific Railroad for 99 years, at a rental of 3 per cent per
annum on the stook for two years, 4 per oent for three years, and 4*a
per cent thereafter. Default by lessee on the rental was made in 1884.
E lizab eth to w n Lexin gton & Big: Sandy.—Road owned Jan.
1885, Lexington to Junction, with A.C. & I. Co., near Denton, 102 miles
A. C. & l. Junction to Big Sandy River, 7 miles; total owned 110 miles
Leased Junction with A. C. & I. Co., near Denton to A. C. & I. Juno., 21 m.
West Side Big Sandy River to Huntington, 9 miles; total operated, 139
miles. Charter permits extension to Elizabethtown. It is the connect­
ing line of the Chesapeake & Ohio and controlled by the same parties.
Authorized capital of the company is $5,000,000, with a provision in the
charter to increase it to $10,000,000 to build the line from Lexington to
Elizabethtown. Amount issued $3,217,900, and $291,9 i6 to be issued.
The annual report for 1885 was in V. 42, p. 461. For oue month
from Jan. 1, 1887, gross earnings were $76,651, against $59,278;
net, $22,927, against $14,308. For year 1886 gross earnings were
$ 06,943; net $244,001; reutals aud interest, $216,120. (V. 42- p. 60,
124, 242, 338,365, 4 6 1 , 6 9 i; V. 44, p. 90, 343, 344.)
E lm ira Cortland Sc N orthern.—Elmira. N. Y., to Oanastota, N.
Y., 120 miles, of which Elmira to Horseheads, 5 miles, and Cortland to
De Ruyter, 20 miles, are leased for 499 years. Organize 1 May.
11,1878, as successor of the Utioa Ithaca & Elmira RR. Co., foreclosed
April 30, 1878. Again sold In foreclosure Feb,, 1884, and re-or-ranized
as at present. The 1st mort. for $L,250,000 bears 3 p. ot. for 3 years, 4
p ct. for 2 years, then 3 p. ct. Stock is $2,000,000. Gross earnings in
1884-5, $325,147; net income, $79,316; interest, taxes, «fed., $<’5,906 ;
surplus, $3,411. Austiu Coro in, President, New York City.
E lm ira Jefferson Sc C anandaigua.—Owns from Canandalgaa,
N. Y., to Watkins, N. Y., 47 miles.
The road was foreclosed and
reorganized under present name Feb. 18,1859. It was leased to New
York & Erie for 20 years from Jan. 1,1859, and the lease transferred
to N. Cen. RR. in 1866 at a rental of $25,000 per year. Lease termi­
nated Jan., 1379, and road now operated at cost by North. Ceut., which
company owns the whole stock. Gross earnings in year ending Sent. 30,
1885, $282,785; net, $42.253; interest, taxes, &c., $ 4 3 .9 7 i; def $1,716.
lu 18 5-3«>. gross, $288,468; net, $22,148; interest, taxes, e c., $43,226;
def. $21,078.
E lm ira Sc W illiam sp o rt.—Owns rrom Williamsport, Pa., to
Elmira, N. Y., 76 miles. This company was reorganized under the
present name Feb. 29,1860, and leased to the Northern Central Rail­
way for 999 years from May 1,1863, at a rental of $151,50(1 per annum
after Jan. 1,1880.- The dividends on the common stock are 5 percent
aud on the preferred 7 per cent. Gross earnings in 1831-5, $741,685 ;
net, $273,730; surplus to lessee, $95,372. Gross earnings in 1883-4,
$777,166; net $226,383; surplus to lessee, $52,178
Erie & P ittsb u rg.—owns from New Castle, Pa., to Girard, Pa.,
82 miles; branch. Dock Junction to Erie Docks, 3 miles; leased—
Girara to Erie, 15 miles; total operated, 100 miles. Road opened in 1865ft was leased to the Pennsylvania RR. for 999 years from March 1,
1870, at a rental of 7 per oent on stock aud interest on the bonds,
and the lease was transferred to the Pennsylvania Co. The lease ha*
been quite unprofitable to the lessees; the deficiency paid by them in
1881 was $233.522: in 1882, $207,651; in 1883, $260,071; in 1884,
$307,841, and in 1885, $354,633.
European Sc North A m erican . — Owns from Bangor, Me.,
co Vanceboro (State Line), Me.. 114 miles. Road was worked in
connection with the St. John & Maine, making an unbroken line from
Bangor, Me., to St. John, N. B., 205 miles. On Aug. 31, 1882, a lease
was made to the Maine Central for 99 years, for $125,000 per annum,

RAILROAD STOCKS AND BONDS.

MAP OP THE

Ma r c h , 1887. \

E A S T TENNESSEE,
V I R G I N I A & GEORGIA




RAILROAD

&

CONNECTIONS.

JBailroacU
uroiccteHoritiyrovra» 1

46

INVESTOKS’

SUPPLEMENT.

[V ol. XUtt

Subscriber« w ill cottfer a great favor by giving Im m ediate notice o f any error discovered In these Tables.
Bonds—Pnnoi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due
For explanation of oolumn headings, &c., see notes of
of
Par
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Wnom.
Dividend.
European A No.American—Stock, guar. 5 per ct___ 114
$100 $2,500,000
Bangor.
A. & O.
Oot. 15, 1880
Evansville <t Indianapolis—1st mort., E. & I. gold..
54 1884
1,000
699,000
6 g- J. & J. N.Y.. Farm. L. St Tr. Co. July 1, 1924
....
40 1879
Terre Haute St Southeastern—1st mort.................
260,000
M. & S.
7
do
do
8ept. 1, 1909
Ev. St Ind. Cons. mort. (for $2,500,000) gold, gnar 135 1886
1,000
1,001,000
6 g. J. St J.
New York.
Jan. 1,' 1926
Evansville A T. Haute—Stook...................................... 146
50
3,000,000
Company’s Office.
Q .-J .
Jan. 15, 1887
1>4
51 1852
1st mortgage, Evansv. S 111., sink, fund...............
c
1,000
246,000
7
J. & J. N.Y.,Farm. L’an& T.Co. July 1, 1887
1st mortlEvans.& Cr.,sink.fund, (Evansv. to T.H.) 109 1854
1,000
606.000
7
M. & N.
do
do
Nov. 1, 1887
144 1881
1st oonsol. mort., gold (for $3,500,000)................
1,000
2,148,000
6 g. J. St J.
do
do
July 1, 1921
1st mort., Mt Vernon Branch, gold (for $375,000)
25 1883
1,000
6 g. A. St O.
do
do
200,000
April 1, 1923
Evansville Terre H. A Ohic.—1st M., gold, int. guar..
55 1870
1,000
775,000
6 g. M. St N. N.Y.,Farm.L*an St T.Co. May 1, 1900
55 1872
2d mortgage, gold....................................................
1,000
325,000
do
do
Jan. 1, 1902
6 g. J. & J.
100
5,COO,000
100
Preferred 4 per cent stook................ .....................
....
7,048,800
2‘
M. < N
fe
Boston, Office
May 2, 1887
a
5,000.00(1 “ 3 to 4 1
1937
.... ’ 74-’85 1.000
Bonds, coupons, ($4,950,000 authorized).............
Boston, Office.
4,500,000 4, 5, 6 7 A. * O.
1894 to 1905
Boston Barre & Gardner, 1st mortgage................ 38^ 1873 100 &c.
‘ 391,000
5 & 7 A. St O. Worcester, CityNat. Bk. April 1, 1893
....
do
2d mortgage..................................
. . . . 1875
3
186,300
do
do
July 1, 1895
....
do
3d mortg. (convertible into stock) . . . . 1875
— 57.300
6
J. & J.
do
do
July 1, 1895
....
H int A Pere Marquette—Preferred stock.................. 361
6,500,000 "
2ia J. & J. N. Y., Mer. Ex. Nat. Bk. Jan. 15,1887
Reorganization mortgage, gold ($5,000,000)........ 302 1880
1,000
6 g. A. & O.
do
do
3,822,000
Oot. 1, 1920
Flint St Holly R R......................................................
17 1868 500 &c.
10
M. St N. N. Y.. Meehan. Nat. B’k. May 1, 1888
300,000
....
Bay County, issued in aid, guar, by lessees............. . . . .
500
M. & 8. N.Y., Meroh.Exch. N.Bk Sept. 1, 1887
10
75,000
Holly Wayne St Mon., 1st mort., sink, fund, guar.
65 1871
1.000
8
1,000,000
J. & J. N.Y.. Merch. Nat. Bank. Jan. 1, 1901
Florida Railway A Nav —F. C. <5cW., 1st mort.. gold 234 1882
1,000
2,808,000
5 g. J. & J. Last paid, Jan., 18s5. A p r ili, 1922
Florida Transit—1st mortgage................................ 155 1881
1,000
1,000,000
6
M. & S. Last paid, March, 1885. Mar. 1, 1911
50 1876
Peninsular of Florida—1st mortgage.....................
1,000
7
250,000
J. & J. Last paid. Jan., 1885. May 24, 1906
Fla.Ry,& Nav., oonsol. mort. gold........................... 530 1884
1,000
4,042,000
6 g- Q .-J . Last paid, July, 1885. July 1, 1924
Fernandina < Jacksonville.....................................
&
24 1883
1.000
380,000
6
J. St J. Last paid, Jan.. 1885. July 1, 1923
Florida Southern—1st mortgage................................ 244 1883 100 &o.
6
J. & J.
New York.
2,014,200
July 1, 1923
Fonda Johnstown A Gloversville—1st mortgage.......
10 1870 100 &o.
300,000
7
J. & J. N. Y., St. Nioh. Nat. B’k. July 1, 1900
26 1880 100 &o.
Oonsol. mortgage......................................................
200,000
6
A. S t O.
do
do
May 1, 1920
Mort Madison A Northwestern—1st mort., gold........
45 1880 500 &c.
320,000
7 g. A. & 0. Last paid April, 1883. A p rili, 1905

e iualto 0 per cent per annum on the stook, and assuming the bonded

OPERATIONS AND FISCAL RESULTS.

debt of $1,000,000, which is given under Maine Central.
1882.
18S3.
1884.
1885.
Earnings—
$
$
$
$
E van sville Sc In d ia n ap olis.—Owns from Evansville, Ind., to Passenger.....................
795,839
874,641
735,067 636,750
Terre Haute, Ind. (via Worthington), 135 miles; branoh to Lancaster, 3 Freight........................... 1,317,042
1,610,510
1,457,169 1,247,383
miles; total, 138 miles. This company was a consolidation in Oct. ’85,
67,342
57,792
60,752
62,657
of three corporations, viz.: the Evansville & Indianapolis, the Evansville Mail, express, &o........
Total gross eam’s .. 2,180,223 2,542,943
2,252,988 1,946,790
Wash. & Brazil and the Terre Haute & Southeastern railroads. Of the
Operat’g exp’s & taxes 1.432,209 1,735.517 1,515.461 1,347,840
consolidated mort. bonds, $1,260,000 are reserved to meet prior liens.
The consolidated bonds are guaranteed by the Evansville & Terre Net earnings.................
748.014
807,426
737,527
598,950
Haute Co. Capital stock, $2,000,000. Edwin Taylor, President.
P. c. of op. ex. to earn..
66’15
68’25
67'26
69*23
INCOME ACCOUNT.
E v an sv ille Sc Terre H au te. — Owns from Evansville, Ind., to
1882.
1883.
1884.
1885.
Terre Haute, Ind., 109 miles; Owensville branch and extension, 37
$307,426
$737,527 $598,950
miles; total operated, 146 miies. The Rockville Extension, 23 miles Net earnings................ $748,014
iSPlll fill i if
additional, is leased to the Terre Haute & Logansport for 99 years from
309,024
318,623
337.223
329,499
Nov. 1,1879. Formerly the Evansville St Crawfordsville RR. Co. The Interest on dobt............
422,500
455,000
455,000
260,000
20 per oent stook dividend of 1884 was the distribution of $500,000 Dividends.....................
...........
........
............
4,226
whloh had been held for some time in the treasury. To meet the bonds Miscellaneous...............
falling due in 1887 the Co. has $852,000 of the consol, bonds. Annual
Total dlsbursem ts..
731,524
773,623
792,223 ' 593,725*
report for 1885-6 in V. 43. p.486. Gross earnings year ending Aug. Balance for the year...sur. 16,490 sur. 33.803 del. 54,696 sur. 5,225
31, 1886, $761,981; net, $386,801; in 1884-85, gross, $718,823; net, —(V. 42, p. 4 8 6 ; V. 43, p. 49: V. 44, p. 117.)
$357,600. (V. 42. p 463, 575; V. 43, p. 458, 486).
F lorid a R a ilw a y S N avigation.—Miles owned as follows :
c.
E van sville Terre H au te Sc C h ic a g o .—(See Map o f Chicago Jacksonville to Chattahoochee, 209 miles, and branohes from Talla*
tt East Illinois RR.)—Owns from Terre Haute Junction, Ind., to Dan­ hassee to St. Marks, 21 miles; and from Drifton to Montioello, 4 m3
ville, 111., 49 miles; leased, 6 miles; total operated, 55 miles. It uses 6 Fernandina south, 179 miles; Waldo to Cedar Keys, 72 miles; Wild*
miles of the track of the Rockville Extension into Terre Haute; also wood to Leesburg, 23 miles; Hart’s road to Jacksonville, 25 m.:
t,
leases the Indiana Block Coal road, 15 miles. On April, 30,1880, a total, 532 miles. In March, 1884, the Florida Central S Western, Florida
lease to the Chicago St Eastern Illinois was made for 999 year's; terms, Transit & Peninsular, Fernandina & Jacksonville and the Leesburg &
Indian River railroads were consolidated under this name. There have
$75,000 per annum and the assumption by the C. & E. I. of all rentals
and taxes paid by E, T. H. & C. The bonded interest was reduced to 6 been issued $16,000 6 per cent consolidated bonds, with $13,000
per oent and preferred stock for $100,000 issued for overdue coupons; of preferred and $13,000 of common stock on each mile constructed
oammoq stook, $600,000. Josephus Collett, President, Terre Haute. Ind. anu equipped. Of the above F. C. St W. bonds $1,000,000 are a
preferred lien “ series A,” the balance of the issue being known as
F itch b u rg .—Owns-from Boston, Mass., to Fitchburg, Mass, (double “ series B.” In Oct.,1886, areeeiver (Mr. H. R. Duval) was appointed for
traok), 50 miles, and B. Barre & Gard. RR., Worcester to Wincheu- the whole property, and in February, 1836, was authorized to spend
don, 30 miles; branches—Charlestown, 1 mile; North Cambridge $800,000. It is stated that this step is taken in order to raise funds to
to Waltham, 8 miles;- South Acton to Marlborough, 12 miles; put the road and equipment in condition and to narrow the gauge in
Peterborough St Shirley, Ayer, Mass., to Greenville, 24 miles ; Ashburn- conjunction with other Southern roads, B. S. Henning. President, N. Y.
hani branch, 3 miles ; leased and operated—Vermont & Mass. RR., City. Gross earnings for 1834, $1,001,590; net, $385,198; interest,
Fitohburg to Green field, 56 miles ; Turners Falls Branoh, 3 miles; Troy j $343,900. (V. 42. p. 215.»
& Greenfield RR., Green field to North Adams, 37 miles; total, 229 miles. | F lorida S o u th e r n (Narrow-gauge).—Owns from Pa’atka, Fla., to
This company was formed by consolidation in 1887 of the Fitchburg Gainesville, 50 m.; Rochejle to Leesburg to Brookville, 106 m.; Bartow
and the' Troy & Greenfield railroads and the Hoosao Tunnel, the latter to Charlotte Harbor, 75 m.; Leesburg to Astor, 50 m.; other Branches,
purchased from the State of Massachusetts (See V. 41, p. 59.» A con­ 13 m ; total owned, 294 miles. Capital stook, $10,000 per mile ; 1st
tract for the purobase of the Troy St Boston railroad was also reported inortg. bonds, $12,000 per mile. Tuere are also $285,000 bonds of the
to have been made. The annual report for 1885-86 was in Ch ronicle . St. John & Lake Eustis RR.. 50 m., guaranteed by this Co. Company has
Y. 44, p. 148. The inoome aooount for four years (ending Sept. 30) wau a State land grant of 13,840 aores per mile. J. W. Candler, Pres., Boston.
F ou da J o h n s t o w n Sc G loversville.—Owns from Fonda to
INCOME ACCOUNT.
Gross
in
1882-83.
1883-84.
1884-85.
1885-86 Northville, 26 miles. The stook is $300,000. chargesearnings per
1884-85, $163,664; net, $76,325; surplus over all
and 10
Receipts—
$
$
$
$
oent dividend. $13,316. Gross earnings in 1884-85, $160,324; net,
2,858,678 2,798,157 2,820,119
3,295,289 $68,568; surplus over charges and 9*2 per cent dividend, $3,364. W.
Gross earnings........
Net earnings .......
670,737
666,752
673,159
735,624 J. Heacock, President, Gloversville, N. Y.
Premiums and rents
107,000
58,500
71,130
104,253
F ort M adison & Northw estern.—Narrow gauge road from Fort
Madison, la., to McKee, la., about 45 miles. Stock, $425,600. De­
Total in o o m e ......
777,737
725,252
744,289
839,877 fault on bonds was made October, 1884, and in July, 1885, a receiver
took possession, and it was proposed to issue new bonds at $14,000 per
Disbursements—
Rentals p a id . . . . . . . .
230,164
246,809
252,581
256,480 mile, oliange the gauge and complete the full line of 100 miles and
Interest ehdebt.......
177,500
200,000
220,688
260,763 retire old bonds by some settlement with the holders, either giving them
51,225
12,332
...........
............ the new bonds or otherwise. C. A. Gilchrist, Receiver.
Other interest..........
F ort W ayn e Sc J ackson .—Owns from Jackson, Mioh., to Fort
Dividends.....................
297,000 272,250
247,500
264,331
Wayne, Ind, 97 miles. The former Fort Wayne Jackson & Saginaw made
Rate of div id en d ....
(6)
(5*3)
(5)
(5)
default on its bonds and was sold in foreclosure Dec. 3,1879. On Sept.
Total disbursem’ts
755,889
731,391
720,769
781,574 1,1882, leased perpetually to Lake Shore & Mich. Southern at a rental of
$126,027, equal to 5*2 per oent
pref. stock, and after 1887
Balance..................... surp.21,848 def.6,139 sur.23,520 sur.58,303 net earnings over 8 per cent on on the stook to be paid as dividendany
pref.
on
—(V. 42, p. 9 2 ; V. 43, p. 607, 746; V. 44, p. 59, 119, 148.)
common stook, but not exceeding 2 per cent a year.
F o rt W a yn e Cincinnati Sc L ou isville.—From Fort Wayne,
F lin t < c Fere M arquette,—Owns from Monroe, Mich., to Luding5
ton, Mioh.. 253 miles; branches—Bay City to East Saginaw, 12 Ind., to Connorsville, Ind., 164 miles; branoh to Rnshville, Ind., 24
fe
miles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch, miles; total operated, 128 miles. The Fort Wayne Muncie < Cincin­
5 miles; Harrison branch, 30 miles; Manistee branch, 26 miles; nati Co. defaulted and a receiver was appointed Nov., 1874. The road
Saginaw St Mount pleasant Railroad, 15 miles; total operated, was sold in foreclosure, July 27, 1881, to Elijah Smith, for the bond
362 miles. A Receiver took the old company in June, 1879; the holders, for $1,000,000. The bondholders reorganized under this name.
road was sold August 18,1880, under the consolidated mortgage, and There are $100,000 notes, due 1893. Gross earnings in 1886, $271,561;
reorganization was made and preferred stook ($6,500,000) issued for tne net, $58.241. Gross in 1885, $227,841; net, $22,509; interest paid,
consolidated mortgage bonds, and common stook ($3,500,000) is to be $7.000. Elijah Smith, Pres’t, N. Y.
F o rt W o r th Sc Denver City.—(Nee Mop)—From Fort Worth, Tex.,
issued for the old stock. The common stook has no present right to vote
or to receive dividends, and will be issued only after the preferred northwest, to Quanah, Tex., 194 miles. Stock, $20,000 per mile,
$3,880,000; par value of shares, $100. Bonds are issued at $25,000
stockholders have received 7 per oent yearly dividends for five oonseoutive years. The preferred stock is not cumulative, and after 7 per per m. for the 191 miles to Quanah, but beyond that point to be issued at
oent per annum is paid on both classes of stock, the balance of income, $16,000 p. m., making the whole road average $18,000 per mile. The
If any, is to be divided ratably. In 1886 the common stockholders road is under construction to the State line to form a junction with the
took steps looking to the relief of their stook from its onerous limita­ Denver Texas & Fort Worth, and thereby constitute a through line from
tions, owing to the payment of dividends on the preferred stook at 7 Denver via Foit Worth to Galveston and New Orleans. Gross earnings
year ending Oot. 31, 1886, $423,130; net, $175,074; fixed charges,
pei’ oent for a few years and then at a reduced rate.
On Jan. 1,1886, the land notes (principal and Interest) on hand for $165,000; surplus, $10,074. For three months from Nov. 1 to Jan. 31,
lands sold were $376,812, and lands yet unsold 95,914 aores. The in 1886-7, gross earnings were $136,346, against $101,359 in 1885-6;
total amount of oash collected In 1885 was $191,574. Annual report net, $68,323, against $33,380. Morgan Jones, Pres., Fort Worth.—(V.
for 1886, in V. 42, p 486. Earnings and operations for four years past 42, p. 22, 215, 2 1 1 , 463, 479, 549, 782; V. 43, p. 49, 547, 579, 774 ; V.
44, p. 60, 90,184, 211, 308.)
werey




BONDS
STOCKS AND
RAILROAD
Ma r c h , 1887.1




INVESTORS
SUPPLEMENT
{Y
ol.

xu v

,




M a r c h . 1887.]

RAILROAD STOCKS AND BONDS.

49

Subscribers w ill confer a great fhvor by giving Im m ediate notice o f any error]dlscovered In these Tables.
Bonds—
Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &o., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
bividend.
Fort Wayne < Jackson—Pref. stock, (8 per cent)—
f.
Common stock. — . . - - - - - .............
Fort Wayne Cincinnati A Louisville—Stock.............
Fort Worth A Denv. City—1st M., gold..................... .
Frederick A Pennsylvania ¿irte—1st mortgage........
Galveston Harrisb.A S.Antonio—1st mort, gold, 1. gr.
2d mortgage --- -- - -- - - ...... -.............. -- ...................
Western Division, 1st mortgage, gold..................
do
do
2d mortgage..........
Galveston Houston A Hend. o f 1882—1st mortiguar
Geneva Ithaca A Sayre—1st mort., s. f., gold...........
Georgia Midland A Culf—1st mort. ($15,000 p. m.).
Georgia Pacific—1st mort., $10,000 per mile..........
2d mort., income, cumulative ($15,000p. m .). . . .
Georgia Railroad A Banking C o—Stock..................
Bonds, not mortgage................................................
Bonds.not mortgage ($300,000 mature in 1922)..
Macon A Augusta, 1st mortgage...........................
Grand Rapids A Indiana—Stook...............................
1st mort., land grant, gold (guar, by Pa. RR).......
1st mort., gold, ($675,000 are land grant).............
Six per cent mortgage..............................................
Consol, mortgage for $13,000,000, coup, and reg.
Mortgage (g'lld. on Muskegon Division................
Green Bay Winona A St. Paul—1st mort. coup-----Funded coupon bonds..............................................
2d mort. income bonds, reg.. non-oumulative.......
Gulf Colorado A Santa Fe—1st M., g. ($12,000 p.m.)
2a mortgage ($8,000 per mile), gold......................
Hannibal A St. Joseph—Common stook ....................
Preferred stock (7 p. o. yearly, not cumulative).
Consolidated mort. (for $8,000,000).......................
Bonds Quincy * Palmyra R R ....................... .........

97
....
$ ....
97
128
194 1881
1.000
28 1870 500 Ac.
256 ’71-’80 1,000
226 1880
1,000
671 1881
1,000
671 1887
1,000
50 1833
1,000
35 1870 100 Ac.
97 1886
1,000
313 1882
1,000
202 1883
1,000
....
307
100
....
....
500
77A80 1.000
77 1867
1,000
367
100
367 1809
1,000
367 1869
1,000
367 1884
1,000
367 1884
1.000
42 1886
1,000
219 1881
1,000
. . . . 1886
219 1881
l.ÒÒ’o
850 1879
1,000
625 1885
1,000
292
100
292
100
292 1881
1,000
15
—

Frederick Sc P en nsylvan ia Iilne.—Owns from Kingsdale to
Frederick City, Md., 28 miles. It is leased to Pennsylvania RR., which
pays interest on first mortgage. Preferred stook held by Pennsylvania
RR., $461,000; common stock, $318,100 ; floating debt, (coupons, Ac.),
$184,645. Charles E. Trail, President, Frederick City, Md.
Galveston H arrisbu rg Sc San A n to n io ,—(See Map o f Southern
Pacific.)—Owns from Houston, Texas, to San Antonio, Texas, 217 miles
LaGrange Extension, 28 miles; Harrisburg to Pierce Junotion, 8 miles ;
leased, Harwood to Gonzales, 12 miles; total, 266 miles. Western Ex­
tension, San Antonio to Rio Grande River, connecting with Southern
Pacific, 636 miles; Eagle Pass Branch, 35 miles; total Western Exten­
sion, 661 miles. Grand total, 936 miles. The extensions to the Rio
Grande at Eagle Pass and to El Paso were completed late in 1882.
This company was successor to the Buffalo Bayou Brazos A Col. Rail­
way in 1870. The capital stock outstanding on the whole road is
$27,061,544. The 1st mort. covers 256 miles of old road and 1,500,000
acres of land. The proceeds of land sales are used to retire the bonds,
and also a sinking fund of 1 per cent, but it is optional with bond­
holders to surrender their bonds, if drawn. Of the second mortgage
bonds due 1931, the company holds $355,000. In June, 1881, a large
interest in the stock was bought by Southern Pacific parties. The
mortgages on the Mexican Pacific extension cover 636 miles of road,
from San Antonio to El Paso, and the Eagle Pass branch, 35 miles—
671 in all. The land grant is sixteen seotlons (10,240 acres) per mile.
Od Feb. 10,1885, this property was leased for 99 years to the Southern
Paoiflo Company, 1he lessee agreeing to pay interest on the debt, and
a further sum equal to I 6I4 per cent o f the net profits on the whole
Southern Pacific system.
For one month from Jan. I t o Jan. 31, gross earnings were $221,392 in
1887, against $199,347 in 1886; net, $5,411, against $29,503 in 1886.
Earnings and expenses for three years were :
1884.
1885.
1886.
936
936
Miles operated........... ......
Gross earnings.................. $2,902,591
$3,253,977
$2,599,463
Operating expenses..........
2,035,816
1,76 ti,525
2,322,423
Net earnings...............
$866,775
$1,4»7,452
$277,040
1,276,861
l,4 l8 ;s il
Interest paid.......................
Balance.....................Def. $410,686
Sur. 68.641
............
—(V. 42, p, 243, 6 9 3 ; V. 43, p. 133,163; V. 44, p. 344)
Galveston H o u sto n Sc H en derson o f 1 8 8 2 .—Owns from Gal­
veston. Texas, to Houston, Texas, 50 miles. The road was opened in
1853-4 and sold in foreclosure Dec. 1, 1871, and reorganized as the G.
H. & H. of 1871. In July, 1880, the company defaulted on its interest
and the road was sold in foreclosure Aug. 1, 1882, for $460,000, and
purchased in the interest of Jay Gould and Russell Sage. The bond­
holders, by agreement with the purchasers, received new 5 per cent
bonds for their old bonds, and the road is leased for 99 years, to the
International & Great Northern Railroad Company and bonds guaran­
teed by that company. Stock of the new company is $1,000,000. In
1886 gross earnings were $401,031; expenses, $395,355: surplus, $5,676;
interest and taxes, $118,467. In 1885, gross, $322,242; net, $42,356.
—(V. 42, p. 662.)
Geneva Ith aca Sc Sayre.—Owns from Geneva, N. Y., to Sayre,
tt -7® mUes; branch, Ithaca, N. Y., to Cayuga, N. Y., 38 miles;
Hayt’s Comers branch (leased), 3 miles; total operated, 116 miles;
Organized October 2, 1876, as successor of the Geneva Ithaca &
Athens Railroad (sold in foreclosure September 2, 1876), which had
been formed by consolidation of the Geneva & Ithaca and Ithaca A
railroads, May 25,1874. In 1880 absorbed the Cayuga & South.
RR., 37 miles. The common stock is $1,275,000; preferred, $400,000
Gross earnings year ending Dept. 30, 1885, $354.884; deficit, $83,023; interest, taxes, Ac., $80,247; total defloit, $163,270. In 1883-84,
gross, $430, 938; defloit, $152,120; interest payments, $66,330;
total deficit,$218,449.
Georgia M id lan d Sc G u lf.—Road built from Columbus, Ga., to
MoDonough, 98 miles; projected to Athens, Ga., 145 miles. Operated
Dytne G.orgia Midland Construction Co.
n wr ? ! a P a c if ic .—Atlanta, Ga., to Coalburg, Ala., 177 miles; Caneyreek, Ala., to Columbus, Miss., 75 miles; Greenville, Miss., to John­
sonviue and branch (N. G.), 52 miles; other branches. 13 miles; in opera­
s'®1 Kept. 30,1886, 317 miles. Between the western terminus of First
1
lav. at Coalburg and eastern terminus of Second Division at Cane Creek
is a gap of 41 miles to be built as soon as practicable. The Georgia
raciflo has been built by Richmond & Danville Extension Com°P®rated in the R A D . system. The capital stock is
jpv,ouu,ooo. Interest on income bonds is cumulative. Gross earnings
J ^ ^ d in g S e p t . 30, 1886, were $784,811 and net, $221,012. There
are $279,302 car trust notes. The annual report was in V. 43, p. 745.
—(Y. 42, p. 1 5 4 ; Y. 43, p. 334, 745.)
n,
R a ilro ad Sc B a n k in g Co.—Augusta, Ga., to Atlanta,
miles; branches to Washington and Athens, 60 miles; Warren®a,>76 miles; total owned and operated, 307 miles,
ine Western Railway of Alabama is controlled jointly with the Central
® Georgia, this company holding one-half the stock of $3,000,000.
J
p®®, ^ acoa * Augusta RR., 76 miles, is owned by this company. The
' "byhl A Augusta RR. is owned one-fifth part by this company;
cue Atlanta A West Point thirty-five one hundredths by this company.
i 88k »lease *or 99 Tears was made to W. M. Wadley and
of ««org 1 and the Louisville A Nashville
»
rauroads, at $600,000 per year, payable semi-annually, and dividends




$2,287,832
431,747
4,000,000
4,080,000
250.000
4,756,000
1,000,000
13,418,000
6,354.000
2,000,000
600,000
600,000
3,173,000
3,901,000
4,200,000
100,000
2.300,000
275,000
4,985,081
3,934,000
1,441,000
2.700.000
3.217.000
750,000
1,600,000
280,830
3,781,000
10,200,000
5,000,000
9,168.700
5,083,024
6,643,000
433,000

2%
6 g.
.6
* 6g.
7
5 g.
6
5
7 g.
6
6
6
2ia
7
6

7

7
7
6
5
5
6
6
8
7
6

M. A S. N Y.,Farmers’ L. ATr.Co Sept. 1, 1886
J. & b .
A. A O.
F. A A.
J. A D.
M. A N.
J. A J.
A. A O.
J. A J.
J. A J.
J. A J.
A. A O.
Q .-J .
T. A J.
J. A J.
J. A J.

g. J. A
g. A. A
M. A
M. A
g- J. A
F. A
F. A
M. A
g. J. A
g. A. A

3
5A6
8

J.
O.
N.
S.
J.
A.
A.
N.
J.
O.

N. Y., Mercantile Tr. Co.
Pennsylvania RR. Co.
N.Y., South. Pacific Co.
do
do
New York.
do
•
New York.
Phila., Company’s office.
N. Y., Central Trust Co.
N. Y., Central Trust Co.
N. Y.,Mercantile Tr. Co.
Am.Ex.Bk., N.Y.,AAug
do
do
do
do
do
do

Dec. 1, 1921
Oct. 1, 1900
Feb. 1, 1910
June 1, 1905
May 1, 1931
July 1, 1931
A p rili, 1913
July 1, 1890
July 1, 1926
Jan. 1, 1922
Oot 1,1923
Oct. 15, 1886
1890
’97,1910,1922
Jan. 1, 1887

N. Y., Winslow, L. A Co.
do
do
do
do
do
do
do
do
N.Y.Farmers’ L. ATr.Co
do
do
None ever paid.
N.Y.Nat. City Bk.AGalv.
New York, Nat. City Bk.

Oot. 1. 1899
Oot. 1, 1899
Nov. 1, 1899
Sept. 1. 1924
July 1,1926
Feb. 1, 1911
Aug. 1, 1906
May 1, 1911
July 1, 1909
Oot, 1, 1923

F. A A. N. Y., Company’s Office Feb. 15,1883
M. A S. N.Y., Bk.of No.'Amerioa. Mar. 1,1911
F. A A.
do
do
Jan. 1, 1892.

are 2_a percent quarterly; the defloit to these companies in 1884-85
J
on the lease was $98.599. In 1835-86 net income from all souroea
including bank, was $663,570, leaving a surplus of $70,918 above all
charges,Including 10 per cent dividends. Total surplus of RR. Co. Mar.
31,1886, $979,540; of Bank, $150,000.
G rand R apids & In d ia n a .—(gee Map o f Pennsylvania RR.)—Owns
from Fort W wue Ind., to Mackinaw City, 367 miles; Manistee Branch,
22 miles; Missaukee Branoh, 8 miles; Osceola Branch, 7 miles; total
owned, 404 miles; leased and operated: Cm. Richmond A Fort Wayne
RR., 86 miles; Traverse City Railroad, 26 miles; Bay View Little
Traverse A Mackinaw Railroad, 6 miles—118 miles. Total, 522 miles.
The Grand Rapids A Indiana Railroad is operated in the interest
of the Pennsylvania Railroad Co., and $4,000,000 of the first mortgage
bonds were guaranteed by that company, whioh buys the coupons each
year if any remain unpaid by the earnings. First mortgage bonds re­
deemed by the sinking fund are replaoed by 5 per cent Donds issued.
The bonds on the Muskegon Division have atrafflo guarantee applicable
to their interest payment.
The Co. has a land grant, and sold in 1885 17,093 aores, for $142,982.
The lands unsold on Jan. 1, 1886, were 432,828 aores. The assets were
$133,266 bills receivable, and cash with cashier, $28,268. From Jan.
1 to Jan. 31, gross earnings were $141,235 in 1887, against $116,734 In
1386; net, $33,375 in 1837, against $31,559 in 1886. The annual report
for 1885 was in V. 42, p. 547 :
INCOMK ACCOUNT.

Gross earnings........
Net earnings............

1883.
$
2,361,605
640,098

1884.
$
2,116,299
613,720

1835.
s
1,946,143
603,715

Interest on debt.......
Int. on Penn.Co.note
Loss on leased roads
Adv.Aint—C.R F.W.
Int.on G.R.I.A M. l’n
Int. on ops. prior yrs.

449,995
25,902
20,920
17,003
19,250
............

387,068
21,586
9,027
37,255
19,250
*93,416

714,100
............
3,050
27,263
............

1886.
$
2,078,510
746,822

............

Total disbursemts.
533,070
567,602
744,413
............
Balance.................... sur. 107,028 sur. 46,118 def. 140,698
............
* Includes $89,075 for interest upon the debt to the guarantor for cou­
pons of years previous to 1884; both coupons and interest were inoluded
in the general settlement. (V. 42, p. 365, 537, 54 7 , 604,782; V. 43, p.
245,398, 515, 634 ; V. 44, p. 22, 184, 235, 300.
Green B ay W in o n a Sc St. P a u l.—Owns from Green Bay, W is.,
to Marshland, Wis., 209 miles; branches, 10 miles; leased—Plover
to Steven’s Pt., 6 miles; total, 225 miles. This was a reorganization in
1881 of the Green Bay A Minnesota, whioh company made default and
the road was sold March 12, 1881. Preferred stook is $2,000,000, and
entitled to 7 per cent when earned, and common stock $8,000,000.
both stocks $100 shares. On Feb. 1,1885, default was made on the first
mortgage interest, and the trustee of the mortgage took possession, and
in 1886 bondholders consented to fund the three overdue coupons and
the company resumed payment of interest on August 1. For
1884-85 gross earnings were $ 303,190; net, $33,043, ; taxes and inter­
est, $102,58(* Samuel Sloan, President, New York. (V. 41, p. 189, 355:
V. 42, p. 60; V. 43, p. 96, 368.)
G u lf Colorado Sc Santa F e .—(See Map)—Mileage as follows: Gal­
veston to Gainesville, 420 miles; Alvin to Houston, 24; Somerville to
Conroes, 71; Temple to Coleman and Bollinger, 196; Cleburne to Honey
Grove, 132; total, 833 miles. Road was sold and reorganized April 15,
1879. Stock, $4,560,000. In 1884 the fiscal year was changed from
July 31 to end with Deo. 31, and the income account is for the 17 mos.
In July, 1885, the old second mortgage at $13,000 per mile was retired
and canceled and the new second mortg. at $8,000 per mile was issued.
In April, 1886, the stock of this company was exchanged for the stook
of the Atohison Topeka A Santa Fe RR. Co., and the two properties thus
consolidated. See Y. 42, p. 630. In the table below the earnings are
for the 17 months ending Deo. 31, 1884, but previously for the years
ending July 31.
1882.
1883.
1884.
1885.
(17 mos.)
Miles at end of year
430
546
536
625
Gross earnings..........$1,251,073 $2,068,957 $2,781,208 $1,916,963
Net earnings..........:. $414,093
$740,494
$411,547
$517,293
Disbursements—
Rentals......................
$13,458
$
430,001
Interest on d e b t. . . .
291,900
563jÒ66
602,416
Tot. dlsbursem’nts $305,358
$430,001
$563.666
$602,416
JBalanoe, surplus_
_ $108,735
$310,493 Def.$152,120 Def. $85,124
-(V . 42, p. 124, 387, 393, 430, 487, 518, 630, 728, 753, 782 ; V. 43, p.
23,245, 399, 619; V. 44, p. 21, 204.)
H a n n ib a l Sc St. J oseph .—Owns from Hannibal, Mo., to St.Joseph,
Mo., 206 miles; branches—Cameron to Kansas City 53 miles; St. Joseph
to Atohison, Kans.. 19 miles ; Palmyra to Quincy 111., 13 miles; total,
operated, 292 miles.

50

INVESTORS’ SUPPLEMENT.

[V ol .

XLlv,

Subscriber» w ill confer â great fa v o r by B ivin s Im m ediate notice o f an y error discovered In these Tables.
DESCRIPTION.
Bond*—Princi­
INTEREST OR DIVIDENDS.
Miles
Size, or
Amount Rato per When Where Payable, and by pal, When Due.
For explanation of column headings, Ao., Bee notes of
Par
Of
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Hannibal A St. Joseph—(Continued) —
Bonds Kansas Cify A Cam. R R ...............................
53 1867 $ ....
$1,076,000
10
J. A J. N.Y.,Bk.of No.America. Jan. 1, 1892
Harrisb. Portsm’th ML Joy A Lane.—Stock...............
54
50
1,182,550
3i* J. A J.
Jan. 10.1887
Phila., Co.’s Office.
1st mor., registered (extended 30 years In 1883).
54 1853 500 Ac.
700,000
4
J. A J.
July 1, 1913
do
do
Harrisburg A Potomac—1st mortgage, coupon........
38 1874 100 Ac.
507,200
7
J. A J. Phila., Third Nat. Bk. Jan. 1, 1904
H artford A Connecticut Western—Stock...................
108
100
2,540,300
Dec. 1, 1882
l1
«
1st m ortgage................................ .......................... 104 1883
1,000
510.000
5
J. A J.
Hartford.
July 1, 1903
Housatonic—Stock........ ........... .................................
127
100
820.000
Preferred stock......................................................... 127
100
l,180f000
3
Bridgeport A Boston. Jan. 10, 1887
2d mort. bonds of 1869............. ?............................ . . . . 1869 500 Ac.
300,000
J. A J.
6
Bridgeport, Office.
July 1, 1889
B on d s........................................................................ . . . .
....
....
76.500
4
do
do
1910
Consolidated mort.. reg...........................................
•• • 1880 500 Ac.
•
300,000
5
A. A 0.
do
do
A p rili, 1910
Rolling stock certificates..........................................
....
200,000
5
1889
EousL JSast A West Texas.—1st M., gld ($7,000 p. m.) 192 1878
1,000
1,344,000
1898
7 g. M. A N. Last coup’npd.May, ’86
2d mort., land grant ($5,000 per m ile).................. 192 1883
1,000
6
J. A J.
Jan. 1. 1913
(»)
Houston A Texas Cent.—1st M., (main) gold, l.gr.,s.f. 345 1866
1,000
6,154,000
7 g. J. A J. Last paid July, 1884 July 1. 1891
1st mort., 1. gr., West div. (Hempstead to Austin) 119 1870
1,000
2,271,000
7 g. J. A J. Last paid July, 1884 July 1. 1891
1st M., gold,Waco & N’ west (Bremond to R oss)___
58 1873
1,000
1,140,000
July 1. 1901
7 g. J. A J. Last paid July, 1884
Consol, mort., land grant, Main and Western Div. 464 1872
1,000
A. A 0. Last paid Oct., 1884
4,046,000
8
Oot. 1, 1913
Consol, mort., land grant, Waco A Northwest......
58 1875
1,000
Nil.
M. A N.
May 1, 1912
8
Gem. mort., gold (for $18,500,000).......................... 522 1881
1,000
4,326,000
6 g. A. A O. Last paid Oct., 1884 April 1, 1925
Hun ingdon A Broad Top—1st mort., gold...............
64 1854
500
416,000
7 g. A. A O. Philadelphia, Office. Sept. 30,1890
2d mortgage, gold.....................................................
64 1857
500
367,500
do
do
Feb. 1. 1895
7 g. F. A A.
3d mortgage consolidated......................................j
64 1865
1,000
4. A O.
A p rili, 1895
1.497,000
5
do
do
Scrip for interest 1st and 2d mortgages................
. ...
....
....
J. A D.
7
do
do
Deo. 1, 1889
121,181
Illinois Central—Stock............................................. )
100 30,000,000
M. A 8. N. Y., 214 Broadway. M’oh 1, 1887
34a
Í ....
Leased line 4 per cent stock, guar....................... > 1,928
100 10,000,000
2
J. Sc J.
Jan. 1, 1887
do
do
Mortgage bonds, sterling........................................
706 1875
£200
A p r ili. 1895
2,500,000
London.
6 8- A. A O.
Sterling bonds, (sinking fund £20,000 yearly)___ 706 1874
£200
3,900,000
5 8- A. A O. London,Morton R.A Co. A p r ili. 1903
Mortgage, sterling................................................... . 706 1875
£200
1,000,000
J. A D.
do
do
Dec. 1. 1905
5 g.
Mortgage bonds, gold, coup., may be reg............... 706 1886
1,000
1,500.000
4 g. J. A J. New York, 214 B’dway. Jan. 1, 1951
do
do coup., may be reg..........
70« 1886
1,000
2,496,000
Jan. 1. 1951
do
do
3 hi g. J. A J.
Trust bonds______do sterling (£1,000,000)....... 706 1886
£200
5,000,000 1 3hi g.
London,Morton R.A Co. July 1,1950
—
The company was chartered Feb. 16,1847, and road completed to St
Joseph in Feb., 1859. The branches were built under different organlza
tions. The Bridge across the Missouri River at Kansas City is owned
The company received $3,000,000 in bonds from the State of Missouri,
which loan was repaid in cash in June. 1881, but litigation followed.
The U. S. Circuit Court decided the further sum of $476,049 to be due
the State, and the case is yet pending on appeal. The land grant has
been practically dosed out.
In May, 1883, 90,000 shares of common stock and a large amount
of preferred were sold to the C. B. A Q. RR. Co. at 45 for the oommon
ana par for the preferred, payable in C. B & Q. 5 per cent bonds at par.
Preferred stook has prior right to a non-cumulative dividend of 7 per
cent; then oommon to 7 ; then both share. Fiscal year ends Dec. 31.
Annual election oocurs in November. The Income accounts have
shown a surplus for 1886 over all charges of $68,210; a surplus of
$506,152 la 1885; a surplus of $445.168 in 1884; a surplus of
353,698 in 1883, and a surplus of $39,810 in 1882 after paying
330,395 for a 6 hi per cent dividend on preferred stook. (V. 43, p. 308.)

t

H arrisb u rg P ortsm ou th m ou n t J oy & Lancaster.—Owns
from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Mid­
dletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 miles.
The property was leased to the Pennsylvania Railroad Co. for 999
Tears from Jan. 1, 1861, the rental being 7 per cent on the stock and
Interest on the bonds. Operated as a part of main line of Penn. RR.
H arrisb u rg Ac P o to m a c .—Owns from Bowmansdale to Shippens
burg, Pa., 32 miles; branch to mines, 5hi miles; total operated. 37^
miles. Extensions projected from Bowmansdale to Harrisburg. Bonds
authorized, $1,800,000. Stook $379,165. Thomas W. Ahl, President,
Bailing Springs, Pa.
H artfo rd dc Connecticut W e ste rn .—Hartford, Conn., to Rhinediff, N. Y., 108. Foreclosure suit was begun in 1880 against the former
Conn. West., and the State Treasurer took possession. On May 25,1881,
bondholders reorganized, and stock in new company issued for bonds.
In March, 1882. the puroliaBe of the Rhinebeck & Connecticut Railroad
was made for $800,000 in the stock of this company. Gross samings
1884-85, $307,924; deficit, $9,811.
Gross in 1885-86, $348,964;
net, $101,295; surplus over interest, Ac., $56,023. (V. 44, p. 308.)

H o u sa to n ic.—From Bridgeport. Conn., to State Line, Mass., 74
miles; Brookfield Juno, to Danbury, 6 miles; leased—Berkshire Railroad,
22 miles; West Btookbridge Railroad, 8 miles; Stookbridge A Pitts­
field RR., 22 miles; total, 127 miles. The preferred 8 per cent stock was
Issued in 1845 to pay for laying the road with heavy iron. There are
also $150,000 6 per cent equipment bonds due Feb. 1,1888, and $70.000
5 per oent Danbury branch bonds due October 1. 1912. In Sept., 1886,
the Housatonic leased the Danbury & Norwalk RR. for 99 years. Opera­
tions and earnings for three years past were as follows:
Passenger Freight (ton) Gross
Net
Div. %
Years.
Mileage.
Mileage. Earnings. Earnings.Rentals. Pref.
1882-83.... 8,794,731 15,795,565 $735,492 $252,251
$74.107 8
1888-84.... 9,265,561 14,875,414 676,759
229,121
74,095 8
1884-85.... 8,835,567 14,890,424 645,859
249,632
74,102 5
—(V. 43, p. 834, 774.)
H o u sto n B ast Sc W e st T ex a s.—Owns from Houston, Tex.,
to Sabine River at Logansport, 192 miles, and connects there with a line
to Shreveport, La. (Narrow guage, 3 feet.) The company had a Texas
land grant of 10,240 acres for each mile constructed and equipped.
Bonds Issued to the extent of $7,000 per mile first mortgage and $5,000
per mile second mortgage, but the 2d mortgage bonds were not sold
and are held as collateral for the debt due Mr. Bremond, $750,000.
Stock authorized, $10,000,000; issued, $1,920,000. In 1884 gross
earnings, $281,552; net, $172,861. In July, 1885, M. G. Howe, Assist­
ant Superintendent of the Houston & Texas Central, was appointed
receiver of this company. Interest is in default, and the proposition
made to bondholders was in V. 44, p. 244. (Y. 42, p. 365. 387; V. 43
p. 131,547; V. 44, p. 244.)
’
*
H o u sto n & T ex a s Central. (See map o f Southern Pacific.)—Owns
from Houston, Tex., to Red River City, Tex., 345 miles; branches
—Hempstead, Tex., to Austin, Tex., 118 miles; Bremond. Tex., to
Ross, Tex., 57 miles; total operated. 520 miles. Texas Central RR.
completed from Ross to Albany, 177 miles. The company has a land
grant from the State of Texas of 10,240 acres per mile, amount­
ing to about 5,130,720 acres; but the lands are not on the line
of the road. Mr. Morgan, of the Louisiana Steamship Line, bought a
controlling interest in the stook, and in February, 1883, the Southern
Pacific party purchased this interest ($8,985,500 of the stock) with
their purchase of the Morgan property. Total stock is $7,726,900. The
general mortgage of 1881 for $18,500,000 is made to the Farmers’ Loan
A Trust Co. as trustee, which company holds $1.500,000 Income and
Indemnity bonds and $1,149,000 consol, mortgage bonds as security.
The coupons due January 1,1885, on first mort. bonds were not paid
by the Co., but were partly purchased by the Southern Development Co.
The 1st mort. is a first lien on the main line at the rate of $20,000 a mile,
oovering 345 miles of road; it is also a first lien on ten seotions of land
for each mile, or 2,208,000 acres. The second mortgage at 8 per oent,
is a second lien on 463 miles of road and also a first Ben on six sections
of land for each mile of road, being 1,777,920 acres in ail.




In Nov., 1886, a formal sale of certain lands was made as required by
the grant. (See V. 43, p. 514, 579.)
In February, 1885, B.G. Clark and Chas. Dillingham were appointed
receivers in a suit of the Southern Development Co. against the railroad,
and receivers’ certificates were Issued. In January, 1886, foreclosure
proceedings were begun under the first mortgage, ana the first mortgage
trustees were afterwards put in possession of the property as receivers
with Mr. Dillingham.
The proposaTror funding coupons, Ac., was in V. 43, p. 102, with ex­
planations on p. 131, and a further proposed change referred to in V.
44. p. 22.
The gross earnings from Jan. 1 to Deo. 31 were $3,080,796 in 1886,
against $2,681,520 in 1885; net, $769,579, against $629,143.
The following statement of gross earnings, operating expenses, amounts
charged to renewals and betterments, ana gross interest charges, in each
of the past four years, shows that, excluding betterments, renewals and
interest on floating debt, the income was more than sufficient to meet
the first mortgage interest.
EARNINGS, EXPENSES AND CHARGES PROM 1882 TO 1885 INCLUSIVE.
1882.
1883.
1884.
1885.
Gross earnings........... $3,156,517 $3,251,875 $2,547,847 $2,739,915
Expenses—
Operat’g, incl’g taxes.$1,748,904 $1,743,771 $1,578,190 $2,052,377
549,699
77,192
Extraordin’y rep’s, Ac 459,500
687,392
92,221
82,989
Equipm ent................
89,737
95,398
Total......................... $2,298,112 $2,526,562 $2,220,110 $2,212,559
Int. on floating debt..
$53,858
$62,394
$86,130
$22,418
Int. A prim State debt.
41,524
39,888
45,698
40,697
Surplus inoome.......... $763,022
Int. on bonded debt p’d 1,193,200

$622,220
1,193,200

$201,718
1,193,200

$459,238

Def. on int.for bond.d’t $430,178
$570,979
$991,481
- (V. 42, p. 60,124, 4 6 1 ,4 8 7 , 549, 575, 663; ; V. 43, p. 102, 131, 309,
515, 547, 579, 746; Y. 44, p. 22,184.)
H u n tin g d o n Sc B road T o p . —Owns from Huntingdon, Pa., to
Mt. Dallas, Pa., 45 miles; branches—Shoup’s Run, 9 miles; Six Mile
Run, 4 miles ; and Sandy Run, 3 miles ; Long’s Run Br., 3 miles ;
total operated, 64 miles. This road was opened in July, 1856. The capi­
tal stock is $1,369,050 oommon and $1,985,300 7 per cent pref. stock.
In February, 1884, a dividend of 75 cents per share was paid on pref,
stock. Earnings in 1883, $424,494; net, $196,651. In 1884, earn­
ings, $333,560 ; net, $175,724. In 1885 gross earnings $371,001 ; net,
$191,709. In 1886, gross, $379,875; net, $222,736. (V. 44, p. 184.)
Illin o is Central.—(See Map.)—L in e o f R o a d —The Illinois Central
Co. operated a system embracing 2,089 miles of road. Main line—
Chicago to Cairo, 365miles; Dunleith to Centralia, 341 miles. Branches
—Otto to Colfax, 111., 60 miles ; Buckingham to Tracy, HI., 10 miles ;
Kempton Junction to Kankaxee Junction, 111., 42 miles; Colfax to
Bloomington, 20 miles; total 132 miles. Southern Division—New
Orleans La., to Cairo, 111., 548 miles ; branches : Kosciusko Junotion,
Miss., to Aberdeen, Miss., 108 miles; Durant to Lexington, Miss., 12
miles. Total owned, 1,664 miles. Leased—Dubuque to Iowa Falls, 143
miles; Iowa Falls to Sioux City, 183 miles; Waterloo to Minnesota
State Line. 76 miles. Total leased, 402 miles. Total operated Deo. 31,
1886, 2,089 miles. On Jan. 1, 1883, took formal possession of the
Chic. St. L. A N. O. RR., now known as “ Southern Division,’’
O r g a n iz a t io n , L e a se s , A c .—This company was chartered in Decem­
ber, 1850, and organized in March, 1851, and the whole road, 707
miles, opened September, 1856. The Illinois Central was one of the
first, and has been one of the most successful, of the land grant roads.
The lands granted were upon the condition that the company
should pay to the State 7 per cent of gross earnings yearly in lieu of
taxes. The Springfield Division was acquired by a lease of theChicago
A Springfield (Gilman Clinton A Springfield foreclosed for 50 years,
but road is practically owned. The leases of Dubuque A Sioux City RR.
and Iowa Falls A Sioux City are on different terms. (See the names of
those companies.) The company acquired a controlling interest in the
Chicago St. Louis A New Orleans Railroad, to which it made large
advances. From July 1,1882, leased the Chicago St. Louis A New
Orleans for 400 years, at 4 per cent per annum on stock and issued the
above 4 per oent leased line stock, in exchange for the Chic. St. L. A
N. O. stook. Fiscal year ends Dec. 31. Annual election held in March.
St o c k s a n d B o n d s .—The Illinois Cent, stock has been held largely in
Europe. The 4 and 3 *8 per cent bonds issued in 1885 and 1886 are under
the old main line mortgage of 1874, and this company was the first to
.negotiate at par a 3 hi per cent bond. On the Chic. St. L. A N. O. the lessee
guarantees the principal and interest of all the outstanding bonds prior
to the 5 per cent bonds, and by an endorsement on the latter bonds
guarantees the payment of the interest on the same until the principal
is paid. Of the first mortgage bonds, $541,000 are a prior lien on
that portion of the road in Tennessee. The trust bonds of 1886 are
secured each one by a deposit of a $1,000 bond of the Chic. St. L. A N.
O. consol. 5 per cent mort. and they also have the agreement that they

M a r c h , 1887.]




RAILROAD

SI OCRS

AND

51

BONDS.

CENTRAL R R
. .
.ATiD CONNECTIONS.

INTESTOKS’

S fi

SUPPLEMENT.

[V ol. XLIV.

Subscribers w ill confer a great favor by givin g Im m ediate notice of any error discovered in tbese Tables.
Bond»—
Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size or
pal,When Due.
Amount
For explanation of column headings, Ac., see notes of
of
par
When
Outstanding Rate per Pay’ble Where Payable, and by Slocks—Last
on first page of tables.
Road. Bonds Value.
Whom.
Cent.
Dividend.
Illinois Central—( Continued,) —
Bonds, cou p., mortgage on Ch. & Sp. R R ............
Ohio.St Louis & N.O., 2d M. (N. O.J.A G. N .) .„ .
do
do
1st mort..............................
do
do
2d mprt..............................
do
do cons.M., gld. (for $18,000,000)
Illinois < 81. Louis—1st mortgage.............................
£
Venice & Carondelet mort., guar............................
Indiana Bloomington A TPert.-^Stock........................
1st mort., preferred, coup, or reg..........................
1st mortgage, coup., may be reg............................
Income bonds, reg., convertible............................
Consol. Income bonds for $6,000,000.....................
2d mortgage, coupon or reg.....................................
1st mortgage, gold, Eastern Division.....................
Sinking fund debentures..........................................
Indiana/polis Decatur <t Springfield—1st mort., gold
2d mortgage, gold.....................................................
Indiana Illinois <t Iowa—Bonds............................. .
2d mortgage...............................................................
Indianapolis < St Louis—1st mort., in 3 series.......
6
Mort for $2,000,000, gold, lend, by C. C. C. & I.).
Indianapolis & Vincennes—1st mortgage, guar.......
2d mortgage, guaranteed........................................
Iowa Falls A Sioux City—Stook...................................
1st mortgage. April 1, ’69........................................
Ithaca Auourn A West.—1st mort.(for $500.000)...
2d mortgage, (income for 3 years)..........................

I l l 1877 $1,000 $1,600,000
131 1881
1,000
968.000
224 1860
1,000
1.483,000
567 1877
1,000
1,398,000
567 1877
1,000
80,000
567 1881
1,000 15,030,000
19 1875
500
200,000
6 1880-2 1,000
300,000
696
100 10,000,800
202 1879 100 Ac.
1,000,000
202 1879 500 Ac.
3.500,000
202 1879 100 &o.
72,300
342 1881
1,000
4,688,000
202 1879 500 Ao.
1.500,000
140 1881
1,000
3,000,000
1883
1,000
500,000
153 1876
1,000
1,800,000
1,000
153 1876
2,703,000
120 1882
1,000
600,000
120 1883
500
140,000
72 1869
1,000
2,000,000
72 1882
1,000
500,000
117 1867 50Ó Ac.
1,700,000
117 1870
1,000
1,450,000
184
100
4,600,000
184 1869 500 Ac.
2,800,000
400,000
38*s 1876 100 Ao.
498,090
38*2 1877 100 Ac.

shall be secured by any future mort. that may be Issued on the 111. Cent,
road.
In January, 1887 the oompany issued $1,000,000 new stock, the
prooeeds to be used for improvements and acquisition of branches, Ac.
Dividends paid since 1870 (prior to current year) have been: in 1871,
10 per cent; lu 1872, 10; in 1873, 10; in 1874, 8 ; in 1875, 8 ; in 1876,
8 ; in 1877, 4; in 1878, 6 ; in 1879. 6 ; in 1880, 6 ; in 1881, 7 ; in 1882,
7 ; in 1883, 8 and 17 per cent in Chic. St. L. & N.O. stock, exchangeable
for leased line certificates: in 1884,10; in 1885, 8; in 1886, 7 * Prices
2.
of the stook yearly sinoe 1870 have been: in 1871, 132® 139*2; in
1872,119® 140: in 1873, 90 ®126*2; in 1874, 90®108*2! in 1875, 88*p
«106*3; in 1876, 60V® 103%; in 1877, 40*p®79; in 1878, 723g®87; in
1879, 79* 100%; in 1880, 99* 1273a; in 1881, 124®146*a; in 188 m
4®
2®
127%® 150*3; in 1883,124 ® 148; in 1884, 110® 140; in 1885, 119*4
® 140; in 1886.130®143*s; in 1887 to March 19,[12878»135.
O p e r a t io n s a n d F in a n c e s .—The Illinois Central for many years paid
10 per cent dividends, as the road drained a rioh territory, of which it
was the only outlet to Chicago. But the building of numerous east and
west lines crossing its road cut into its business severely. The company,
to extend its business, acquired the line from Cairo to New Orleans,
and invested largely in improving the property. Its operations
are now included in the 111. Cent. The HI. Central owned $9,992,700
of the $10,000,000 stook, of which $4,422,700 were pledged asrainst the
leased line 4 per cent stock, and the balance of $5,570,00.) was owned
absolutely by the Illinois Central, and in June, 1883, a distribution of
17 per cent in this stock was made to Illinois Central stockholders.
For 1886 the annual report in V. 44, p. 307, 310, showed that the
surplus over all charges (including construction and equipm’t accounts)
ana 8 per cent dividends was $8,593. The profits of the whole line
are Bhown in the figures below :
INCOME ACCOUNT.

1883.
1884.
1885.
1886.
R’d op’rat’d Dec. 31.
1,928
2,066
2,066
2,149
Receipts—
$
$
$
$
Gross earnings........ 13,064,743 12,190,833 12,621,264 12,529,494
Net earnings...........
6,629,472 6,062,321
5,994,635 5,988.790
Interest, Ao.............
298,009
188,967
270,627
313,343
Miscellaneous..........
202,226
121,206
65,966
102,121
Total......................
Disbursements—
Rentals, incl. int. on
bds. of leased lines.
lilt, on 111. O. debt...
Div’ds on 111. C.stk. A
leased line oerts ...
Taxes........... ............
Construction aco’ ts.
Add’t’l equip, aoo’t . .
Miscellaneous..........

7,129,707

6,372,494

6,331,228

6,404,254

1,891,538
538,750

1,787,316
546,900

1,901,038
544,400

1,875,073
776,760

3,300,000
559,980
632,529
............
50,000

2,720,000
545,269
219,943
250,000
165,138

2,720,000
556,074
548.859
............
60,807

2,430,000
575,459
615,926
............
122,443

Total......................
6,972,797 6,234,566 6,331,178
6,395,661
Balance, surplus....
156,910
137,928
50
8,593
—(V. 12, p. 3 0 3 , 3 0 6 , 338, 339, 783; V. 43, p. 190, 245, 607, 671; V.
44, p. 118,149, 275, 291, 3 0 7 , 3 1 0 , 343.)
Illin o is Sc St. IiOuls.—Belleville to East St. Louis, 111.. 15 miles;
branches to coal mines, 4 miles; total, 19 miles. Leases Venice A Caron.
RR., 6 miles, and guarantees the bonds. Capital stook of 111. < St. Louis
&
is $900,000 preferred and $617,000 common. Gross earnings in 188485, $197,871; net, $32,264. Jos. W. Branch, President, St. Louis.
In d ia n a B lo o m in g to n Sc W e ste rn .—Owns from Indianapolis,
Ind., to Pekin, 111., 202 miles, and Indianapolis to Springfield,
Ohio, 142 miles. Leased, Pekin to Peoria, 9 miles; Springfield to San­
dusky, O., 130 miles; Cary, O., to Findlay, O., 16 miles; Springfield to
Columbus, 45 miles. Total operated, 543 miles. This was a consolida­
tion in March, 1881, of the Ind. B. & W. and the Ohio Ind. & Pacific.
The Cincinnati Sandusky A Cleveland and branch was leased in April,
1881; but of this, 24 miles (Springfield, O., to Dayton) is leased to Cin­
cinnati A Springfield. In April, 1885, the lease of the Indianapolis
Decatur & Springfield road was given up. The former Indianapolis
Bloomington A Western Company defaulted Oct. 1,1874, and a Receiver
was appointed Dec. 1,1874. The road was sold in foreclosure Oct. 30,
1878, and the company reorganized.
On the first and seoond mort. bonds the interest was 3 per cent 18791882, 4 per oent 1883-84, 5 per cent 1885-1887, and 6 per cent there­
after until maturity. The income bonds take such interest from July 1,
1879, not exceeding 6 per cent per annum, as the net earnings may
suffice to pay. $830,000 stock sorip was issued entitled to a dividend
of 7 per oent per annum, after a dividend of 8 per oent on the common
stock. After the payment of a 7 per oent dividend, the stock scrip is
convertible into common stook.
In July, 1886, a receiver was appointed for the I. B. A W., as the
oompany was held liable for a larger rental of the Cin. Sandusky & Cleve­
land road than had been expected; but the U. S. Cirouit Court sustained
the decision and ordered the rental to be oaid, and in Nov., 1886, a cirouliar was issued proposing a plan of foreclosure and reorganization.
(See V. 43, p. 579.) On Feb 10,1887, a decree of foreclosure was made.
For the year endng June 30,1886, see report in V. 43, p. 546, gross




J. A J. N. Y., 214 Broadway.
6
5
F. A A.
A. A O.
do
do
8
M. A N.
do
do
7
J. A D.
do
do
6
J. A D.
do
do
5 g.
J. A D.
St. Louis.
8
6
Various
do
*7*
4 to 6
6
6
4 to 6
6 g.
6
7 g.
7 g.
6
6
7
6 g.
7
6
1*2
7
7
7

J. A J. N. Y., Corbin Bank’g Co
A. A O.
do
do
do
do
do
do
A. A O.
do
do
J. A D.
do
do
F. A A.
do
do
A. A O. Oct.’85 *
2ca8h A *2scrip.
J. A J. l% p d . on Jan.’82,coup.
M. A N
New York Agency.
M. A N.
do
do
Various N. Y., Union Trust Co.
M. A N. N. Y.. U. S. Trust Co.
F. A A. N. Y., Farm. L. A T. Co.
M. A N.
do
do
Q.—M.
Boston, at Office.
A. A O. N. Y., Nat. Park Bank.
J. A D. N.Y., Hanover Nat. Bk.
J. A J.
do
do

Jan. 1. 1898
Aug. 1,1921
Oct. 1, 1890
Nov. 1, 1897
Dec. 1, 1907
June 15,1951
June 1, 1895
1900-’02
Jan. 1, 1900
April 1, 1909
April 1, 1919
July 1, 192Ì
April 1, 1909
June 1, 1921
19Ò3
July 1, 1906
July Ì, 1906
1887
1903
July 1, 1919
Nov. 1, 1912
Feb. 1, 1908
May 1, 1900
Men. 1, 1887
Oct. 1. 1917
Deo., 1906
Jan. 1. 1907

earnings $2,493,536; net, $839,783; disbursements, $919,497; deficit.
$79,714.
For the year ended Dec. 31, 1885, the report in Chronicle V. 43,
p. 216, gave gross earnings, $2,335,539; net, $717,107; add rental, earn­
ings of C. S. & C. Railway, Springfield to Dayton. $80,642. Total avail­
able revenue, $797,748. Payments: Rentals, $332,110; interest on
bonds, $530,000; other interest, $23,3.87; taxes. $83,000; New York
office expenses and services, $15,593—total, $985,391; deficit under all
Charges, $187,642. (V. 42, p. 463, 479, 601, 783; V. 43. p. 23, 49.
102, 132, 2 1 6 , 309, 398, 458, 515, 5 4 6 ,5 7 9 ,6 3 4 ; V. 44, p. 90,184
211.)
'
In d ia n ap olis Decatur Sc Springfield.—Owns from Decatur,
111., to Indianapolis, Ind.. 153 miles. This company is successor to the
Indiana & 111. Cent. RR, sold in foreclosure April 26,1875. In Deo.,
1881, was leased to Ind. Bloom. & W. for 50 years, at 30 per oent of gross
earnings, but with a guarantee of $200,000 per year. In March, 1885,
this lease was relinquished and Mr. Hammond, the President, was
appointed receiver. The first-mortgage bondholders funded one-half of
the coupons due April 1 and Oct. l, 1885, in five years’ sorip, the other
half being paid in cash. Foreclosure is made under the 2d mort.
and stook assessed $2 50 per share. On May 25, 1887, sale will be
made in New York. Common stock is $500,000. (V. 43, p. 718; V. 44.
p. 184, 211, 362.)
In d ia n a Illin o is Sc I o w a .—Completed and in operation from
Streator, III., to Knox, Ind., 120 miles. Stock, $3,598,000. Gross
income in 1884-5. $113,315; net, $8,095; deficit under charges, $20 ,850.
Gross in 1885 6, $123,089; net, $22,568. F. M. Drake, President, Centreville, Iowa.
In dian ap olis Sc St. L o u is.—Owns from Indianapolis to Terre
Haute, Ind., 72 miles; leased line, St. L. Al. & T. H. and branches,
193 miles; total operated, 265 miles. The old lease of the St. Louis
A. & T. H. was guaranteed by three other companies, and suit has been
pending as to the rental. The company was formerly controlled by
the Pennsylvania and Cleveland Columbus Cin. A Ind. companies,
who jointly owned the stock of $600,000. Interest had not been
paid on the second mortgage and equipment bonds since July, 1878,
and on July 28,1882, the road was sold in foreclosure for $1,396,000
(subject to 1st mort.) and bought for Clev. Col. Cin. & Ind. Co. and a
new company organized September, 1882, with J. H. Devereux as
President. A new lease was made of the St. Louis Alton & Terre Haute
by which this company and the Cleveland Columbus Cincinnati & In­
dianapolis are jointly liable for the rent of $450,000 per year as a mini­
mum. Of the first mortgage bonds series “ A” are J. & J.; series “ B,”
M. & 8.; series “ C,” M. & N.; and the C. C. C. & I. RR. guarantees
$750,000 of them.
There has been a large deficit on the company’s operations after de­
ducting the rental. Net earnings in 1886 were $444,513; rental paid,
$450,000; interest on bonds, $170,000; miscellaneous, $149,512; total,
$769,512; net loss to lessee in 1883, $324.999; deficit in 1885, $560,951. The road is only incidentally of advantage to its owners as a
route to St. Louis.
Operations and earnings for six years past w ere:
Passenge Freight (ton)
Gross
Net
Years.
Miles. Mileage.
Mileage.
Earnings. Earnings
... 265 21,008,318 202,985,772 $2,086,776 df. 111,608
1882
1883
..... 265 20,963,061 196,667,532 2,131,621
172,419
1884
..... 265 22.494.880 207,672,278 1,921,726
189,904
1885
..... 265 20,596,678 216,121,867 1,855,903
249,249
1886
..... 265 21,017,157 177,844,516 1,876,495
444,513
In d ia n ap olis Sc Vincennes. -Owns from Indianapolis, Ind.,
to Vincennes, Ind., 117 miles; branch, Bushrod to Dugger, 12 miles;
total, 129 miles. The Penn. Co. owns a controlling interest in the stock
and operates the road, advancing the deficiency to pay interest on the
bonds. The capital stock is $1,402,000; the debt due to Penn. Co. Deo.
3 l, 1886, was $1,513,007. in 1881 the net earnings were $10,260; in
loo82, $19,850; in 1883, deficit, $11,031; in 1884, deficit, $9,570; in
1885, deficit, $5,847; in 1886, surplus, $26,298. Annual interest on
debt, $206,000.
Io w a F a lls Sc Sioux City—(See Map o f Illinois Central).—
Owns
from Iowa Falls, la., to Sioux City, la., 184 miles. This road was opened
in 1870 and is leased to the Illinois Central for 20 years from Oct. 1,
1867, at a rental of 36 per cent of the gross earnings. The Illinois
Central has an option of continuing the lease after 1887 at same rental.
This company also receives a drawback of 10 per ct. on business to and
from their line over the Dub. & S. City RR., and receives rental for 26
miles of its road used by the Sioux City & St. Paul Co. In the year
ending March 31,1886, the total rental was $261,667; receipts from
sales of lands, $283.500; the total net income was $613,882, and all ex­
penses, including dividends, $518,00' > The contingent fund invested
.
is $1,450,000. Lands remaining unsold, 30,314 acres. Horace Williams,
President, Clinton, la. (V. 43, p. 607.)
Ith aca A u b u rn Sc W estern .—Owns from Freeville to Auburn,
N. Y., 38 miles. The New York & Oswego Midland RR., Western Exten­
sion, was sold in foreclosure, and this comnany organized Sept. 20,
1876. The stock is $975,800. On April 1,1883, was leased to South­
ern Central of New York for the term of its charter, at a rental of 33*3
per cent of gross earnings, with guarantee that rental shall equal 4 per
cent on first mortgage bonds. In Nov., 1886, leased to Lehigh Valley
RR. with So. Central. Foreclosure has been consented to by a majority
of bondholders in order to change the form of bonds to conform to the
terms of the lease.

F March , 1887.]

RAILROAD STOCKS AND BONDS,

53

Subscribers w ill confer a great flavor by giving Im m ediate notice o f any error discovered In tltese Tables.
DESCRIPTION.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due*
Amount
For explanation of column headings, Ao., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Jacksonville Southeastern—1st mortgage.............
54 1880 $1,000
$300,000
6
J. A J, N. Y., Am. Ex. Nat. Bk. July 1, 1910
General mortgage................................................
112 1832
1,000
879.000
6
J. A J.
do
do
July 1, 1912
Jacksonville Tampa £ Key West—1st mortgage, gold 130 1884
1,000
1,566,000
6 g- J. A J. N. Y. Mercan. Trust Co. Jan. 1,1914
Jefferson (Pa.)—1st & 2d morts. (Hawley Branch)..
9 1867
1,000
300 000
7
J. A J. Honesdale Nat. Bank. 1887 A 1889
1st mortgage (Susquehanna to Carbondale)..........
39 1869
1,000
2,000,000
7
J. A J. N. Y., by Erie Railroad. Jan. 1, 1889
Jeffersonville Madison £ Indianapolis—Stock . . . . . 222
....
100
2,000,000
Q.—F. N. Y., Farm. L. A T. Co. May, 1881
l1
*
Jeff., Mad. A Ind., 1st M. (s. f. $15,000 per year). 159 1866
1,000
2,563,000
A. A 0.
7
ao
do
Oct. 1, 1906
do
do
2d m ort......................... ........ 159 1870
1,000
1,995,000
7
J. A J.
do
do
July 1, 1910
Jersey Oity £ Bergen — mortgage..........................
1st
6 1873
1,000
258,000
7
J. A J.
Jan. 1, 1903
Joliet £ Northern Indiana—1st mort., guar, by M. C.
44 1877
1,000
800,000
7
J. A J. N. Y., Farm. L. A T. Co. July 10,1907
Junction (Philadelphia).—1st mort, (extended)___
3-6 1882
1,000
425,000
41* J. A J. Phila.. 233 So. 4th St. July 1, 1907
2d mortgage........................... ............... ..................
3-6 1865
1,000
300.000
6
A. A O.
do
do
April 1, 1900
Kanawha £ Ohio—1st mort. ($10,000 p. m.)...........
115 1886
1,000
720,000
6
J. A J. I st coup. due Jan., ’89 Jan. 1, 1936
Kansas Centred—1st mortgage (for $3,200,000)_
_
lb8 1881
1,000
1,348,000
6
A. A O. Offloe, Î95 Broadway. April 1, 1911
Kansas City Clinton £ Spring. 1st M., gold, gu a r... 129 1885
1,000 •3,091,000
do
do
5 g• A. A O.
Oct. 1, 1925
Pleasant Hill A De Soto, 1st mort., gold...............
45 1877
500
580,000
7 g. A. A O. Boston, 26 Sear’s Bldg.
1907
Kansas City Fort Scott £ Gulf—Stock, common....... 389
•• •
•
•• •
•
4,648,000
2i* F. A A.
Boston.
Feb. 15, 1887
Stock, preferred........................................................ 389
....
....
2,750,000
4
F. A A.
do
F e b .15,1887
1st mortgage, land, grant, sink- fund..................... 159 1879 100 Ao.
2,247,000
7
J. A D. Bost., Nat. Webster Bk. July 1, 1908
Mortgage on branches, guaranteed........................ 202 1880
1,000
2,780,000
7
M. A 8.
do
do
Sept. 1, 1910
do
do
........................... ..................
26 1882
1,000
390,000
5
F. A A.
do
do
Aug. 1, 1922
Equipment bonds (10 per cent retired annually).. . . . . 1883
•• •
•
490,000
6
J. A D.
do
do
Deo. 1, 1893
Ten-year coupon notes.............................................
6
1
100,000
Kans. O. Memphis £ Birm.—1st M. ($25,000 p. m.). . . . . 1887
1,000
5
C
D
1927
Kansas City Springfield £ Memphis—1st mort........ 282 1883
1,000
6,971,000
6
M. A N. Boston. Nat. Union Bk. May 1, 1923
Plain bonds (red’ble at will at 105 and int.), guar •• • 1884
•
....
500,000
6
May 1, 1894
Memphis equipment bonds (guar.by K. C. S.A M.) . . . . 1885
....
325,000
6
J. A D.
Deo. 1, 1897
Current River RR., 1st mort., guar........................
81 1887
1,000
1,620,000
5
A. A O.
Boston.
1927
Kentucky Central—
Stock............................................. 250
5,599,500
1
M. A N.
May, 1881
Covington A Lexington,mortgage, extended.......
80 1855
1.ÖÖ0
•219,000 5 A 6 J. A D. Kentucky Central RR.
June, 1890
Maysville Division mortgage..................................
50
. ...
....
400,000
7
J. A J. N. Y., Morton, B. A Co.
1906
General mortgage...................................................
2‘20 1881
1,000
6,379,000
4 to 6 J. A J.
do
do
July 1, 1911
Keokuk £ ne.s Moines—1st M., int. guar. C. R. I. A P. 162 1878 100 Ac.
2,750,000
5
A. A O. N. Y.,Farm. L. A T. Co. Oot. 1, 1923
Jacksonville Southeastern.—Owns from Jacksonville to CentThe Kansas City Clinton & Springfield bonds are guaranteed by Kans.
ralia, la., 112 miles. This was the Jacksonville Northwestern & South­ City Fort Scott & Gulf. (See V. 39, p. 234.)
eastern RR.,projected from Jacksonville to Mt.Vemon, 125 miles. Bonds
The annual report for 1885 was in V. 42, p. 629. There was expended
were issued at $20,000 per mile, amounting to $600,000. In 1879 the in 1895 for construction and equipinent of main line $56,268 ; for
company was reorganized by the bondholders under this name. Stock improvement of leased lines, $121,877 ; making the total net expendi­
$1,000,000. In year ending June 30, 1885 gross earnings were $158,- ture in 1835 (above assets for the purpose) $151.954. The company
703; net, $45,304; interest on bonds, $61,390; def., $16,085. W. 8. determined to issue ten-year coupon notes bearing 6 per oent, to pay for
Hook, Presid’t, Jacksonville, HI.
these and other improvements, and $100,009 were so issued.
Jacksonville T am p a Sc K e y W e s t.—(See map)—Line of road
Earnings and income aocount for four years were as follows :
Jacksonville, Fla., to Sanford, 126 m.; Enterprise branch, 4 m. Leased
INCOME ACCOUNT.
At. Coast St. Johns A I. R., Enterprise to Titusville, 37 m.; operates Jaok1883.
1884.
1885.
1886.
sonv. St. Aug. & Halifax, 37 m.; total operated, 204 m. The bonds may Miles operated..........
389
389
387
be redeemed before maturity at 110. Stock is $2,600,000. Gross earn­
$
ings on main line, 130 miles, for ten months of 1886, $206,546. N. Y. Gross earnings..........
2,016,212
2,422,443
2,546,525 2,539,338
offloe, 10 Wall St.
Net earnings..............
837,668
1,014,750
988,218 1,063,811
27,395
Jefferson.—Owns from Susquehanna Depot, Pa., to Carbondale, Pa., Interest, A c................
37 miles; branch, Hawley, Pa., to Honesdale, Pa., 8 miles; total, 45
Total Income............
miles. Leased in perpetuity to the Erie Railway for $140,000 per
837,668
1,042.145
988,218 1,063,811
Disbursements—
annum, and now operated by the N. Y. Lake Erie & West. Oapital
$
$
$
Interest on b on d s.......
stock, $2,096,050. Samuel Hines, President, Scranton, Pa.
173,203
162,546
166,081
Leased
interest..
184,003
204,123
213,078
Jeffersonville M adison Sc In d ia n ap olis.—Owns from Jefferson­ K. C. 8. lines proport’n.
& M.
25,099
76,212
109,625
ville, lad., to Indianapolis, Ind., 108 miles; branches—Madison, Ind.,to
102,661
116,951
Columbus, Ind., 45 miles; Columbus, Ind., to Sheibyville, Ind., 24 miles; Ft. Scott equip, bonds.
Dividends...................
359,364
475,576
336,153 405,880
Jeffersonville, Ind., to New Albany, Ind., 6 miles; Shelby* Rush RR.,
3
5
2i*
4
18 miles; Cambridge Extension, 21 miles; total operated, 222 miles. Rate paid on com.......
Do
pref....
8
8
8
8
The road was leased to Pennsylvania Company from 1873, with a guar
24,360
21,176
22,300
antee of interest on bonds and 7 per cent on stock. Lease was modified Sinking fund...............
1,421
Miscellaneous.............
384
3,805
from January 1,1880, the lessees to pay over all the net earnings of
the J. M. & I. Co. The Pennsylvania Company owns $1,931,000 of
Total disbursements.
767,450 1,046,213
964,461
............
the stock. Dividends were at the rate of 7 per cent per annum till
70,218 def. 4,068 sur.23,750
............
May, 1880. Earnings for two years past were as follows: 1886, gross Balance, surplus
—(V. 42, p. 215, 6 2 9 : V. 44, p. 184.)
earnings, $1,319,244; net, 357,775. 1885, gross earnings, $1,217,088;
net, $291,166.
K a n sa s City M em ph is Sc B irm in g h a m .—In May, 1836, it
Jersey City Sc B ergen .—Owns from Jersey City to Bergen Point, was proposed to build 250 miles southeast from Memphis to Birming­
ham, Ala., the three corporations in three States were consolidated and
N. J., 6 miles. In 1885 gross earnings, $362,972; net, $115,377; int.,
dividend and sink’g fund, $55,000. In 1886, gross, $411,062; net, called the Kan. City Memphis & Birmingham RR. The total cost was
$102,384. Stock, $500,000. Dividends 7 per cent in 1886. C. B. Thurs­ estimated at $5.460,760, and bonds for $25,000 per mile were issued.
The K. C. 8. & M. owns half the stook ana gives a traffic guarantee of 10
ton, President, Jersey City.
per cent of gross earniogs derived from businef s to and from the new
Joliet Sc Northern In d ia n a .—Owns from Joliet, 111., to Lake road. (V. 42, p. 631; V. 43, p. 217; V. 44, p. 275.)
Station, Ind., 45 miles. Operated as part of the Michigan Central
K a n sa s City Springfield Sc M em p h is.—This organization em­
naain line. Road opened in 1854 and leased to the Mich. Cent. Above
Issue of bonds definitely guaranteed was given as a compromise in braces two corporations under the laws of Missouri and of Arkansas to
place of old 8 per cent bonds. Stock ($300,000) carries dividends of 8 build a road from Springfield, Mo., to Memphis, Tenn., 282 miles.
Current River RR., from Willow Springs, Mo., to Cairo, 81 miles. The
per cent per annum.
Kansas City Fort Scott & Gulf appropriates 15 per cent of gross
Junction (P h ilad elp h ia ).—Owns from Belmont, Pa., to Gray’s earnings on business to or from the new road to pay interest on the
Ferry, Pa., about 4 miles It connects the Pennsylvania, the Phila­ bonds, or retire the principal at 110. Capital stock, $5,264,500. The
delphia & Reading and the Philadelphia Wilmington & Baltimore rail­ equipment bonds are retired 1-12 annually, and all may be retired at
roads, coming into Philadelphia. Capital stock, $250,000. Net earn- 105 at any time. The Current River RR. bonds are guaranteed and were
ings.in 1882-3, $123,919; in 1883-4, $130,731; in 1884-5, $95.865; in issued as per circular in V. 44, p. 246. The report for 1885 showed
1885-6, $131,212. Large dividends are paid according to receipts each gross earnings of $1,511,461, and net, $365,160: also $109,624 trafiio
year, in 1884 paid 40 per cent, in 1835 paid 20 per cent.
guarantee received. (V. 42, p. 315, 537, 631, 7 8 2 ; V. 44, p. 246.)
K a n a w h a Sc O hio.—Coming, Ohio, to Charleston, W. Va., 115
K en tu c k y C entral.—Owns from Covington, Ky., to Livingston,
miles, and to be extended to a point in Fayette Co., W. Va., in all 180 Ky., 154 miles; Paris to Lexington, 19 miles; leases Paris, Ky., toM aysmiles. The Ohio Cent. Riv. Div. defaulted on interest Sept, ’83, and ville, Ky., 49 miles; Richmond to Stanford, 34 miles; total operated, 253
was sold Oct. 22, ’85, and this company organized and above bonds miles.
'This was formerly the Covington & Lexington RR., which
issued. Bonds and stock of old company were assessed. (See plan, V. was foreclosed in 1859. In 1875 the present company was formed.
*0» p. 356.) $200,000 of the total of $1,800,000 1st morfc. bonds are re- In June, 1881, a majority of the stock was purchased by Mr. C.
served toretire the Ohio Cent. Mineral Div. bonds. Common stock author­ P. Huntington of the Chesapeake & Ohio road. This Co. leased of the
ized $2^200,000; 1st pref., $6,600,000; 2d pref., $4,000,000. Office, 2 Louisv. A Nashv.RR. its Richmond branch for 99 years from Jan 1,1883,
Wall st., New York. Erwin Davis, N. Y., Pres.; Nelson Robinson, Vice- for $24,000 per annum, with a right to purchase at any time for $400,000.
president. (V. 42, p. 23, 243, 519, 632, 694; V. 43, p. 132.)
In February, 1884, the stook was assessed 10 per cent, and holders of
K ansas Central.—Owns from Leavenworth to Miltonvale, 167 $5,600,000 of the general mortg. agreed to take 4 per cent for three
miles. Sold under foreclosure of first mortgage April 14, 1879. Reor- years beginning July 1,1884. On Jan. 29,1836, Mr. Henry Huntington
ganized Aprii, 1879. Gross earnings in 1884, $283,267; deficit, $94,293; was appointed receiver, and foreclosure will be made April 7. It is pro­
2S521
L°,7eJ interest, taxes, Ac., $180,382. Gross earnings in 1885, posed to issue new bonds bearing 4 per cent and running 100 years; the
$268,059; def. $46,575; def. under inter., Ac., $127,455. Stock, $1,348,- stock is to pay another assessment of 2 per cent (additional to the 10
000. Union Pacific holds $1,313,400 of the stock and $1,162,000 bonds. paid in 1884), and will then receive stock in the new company.
C linton Sc Springfield.—Owns from Cedar June.,
The annual report for 1885 was in V. 42, p. 547.
Kan., to Ash Grove, Mo., 164 miles, and branch Raynor Junction to
INCOME ACCOUNT.
Mo., 10 miles; total, 174 miles. In Jan., 1885, the Pleas1883.
1884.
1885.
v r i S r 12:
Soto road, 4b miles, was purchased from Atch. Top. & S. Total gross earnings........................ $833,975
$922.107 $847,071
flj; "**•» .OK. C. C. & S. Co. assuming the bonds. Road was built in the Net receipts.....................
$356,819
$3L8,487 $309,621
?£ • Et. S. A G. RR., which company guarantees the bonds.
Disbursements—
$2,500,000; issued, $1,775,4u0, of which a majority Rentals paid....................................
$52,000
$62,074
$61,210
is owned by the Kansas City Port 8cott A Gulf RR.
rnterest on debt...............................
214,563
256,880
255,250
u i aif8a8 « ‘ J F o rt Scott Sc G u lf.—Mileage is as follows: Taxes and miscellaneous................
39,731
50,402
69,853
C^tyto Baxter Springs, 160 miles; branches—Weir
Arcadiato Coal Mines. 2 miles; Baxter
Total disbursements..................
$306,294 $369,356
$386,313
^ J 11168; Rich
!*
Junction to Carbon Centre Balance*........................................... sur. 50,525 def. 50,869 def. 76,692
2 8 mii®81Jfort Scott Junction to Springfield, 100; Coal•The surplus Dec. 31,1884, was $719,327; deduct (deficit as above,
Ontnnil
Tot^.operated, Dec. 31, 1886, 389 miles. In $76,692, and $13,200 paid for old claims) $39,892, leaving balance to
ganaaaFVm rlitllP Pleasant Hfil A De Soto road was purchased by the surplus Dec. 31,1885. $629,435.
?
Tvhiii8
Clinton & Springfield, and the bonds assumed.
—(V.42, p. 60, 187, 272, 547; V. 43, p. 634,746,774; V .44,p. 211,369.)
Miaom,J?°™Pany_',^a8 organized April 1, 1879. as successor to the
K e o k u k Sc Des M o in es.—Owns from Keokuk, la., to Des Moines,
^ S 80ur j Rlver Port Scott A Gulf, which made default October 8, la., 162 miles. This was a reorganization, Jan. 1, 1874, of the Des
vaffA
8ol(l
foreclosure February 4,1879. The first mort- Moines Valley Eastern Div., sold in foreclosure October 17, 1873.
old road took 80 per cent in the new mort- The property was leased for 45 years from Oct. 1,1878, to the Chicago
,?5d f< ali ° ih?r claims stock was issued. The branches Rock Island & Fac. RR. on the terms following: that the lessee pay 25 per
?r,
nave been built mainly by this company and bonds are guaranteed.
(oent of the gross earnings to this company, but guarantee the interest




54




INVESTORS’

SUPPLEMENT.

y o u XLTV.

M

arch ,

RAILROAD STOCKS AND BONDS,

1887-] » I

O ff

Subscribers w ill confer a great favor by giving im m ediate notice o f any error discovered in these Tablee.
Bonds—PnnoiDESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date 8l*?’ or
Amount Rate per When Where Payable, and by pal,When Due.
of
For explanation of column headings, Ac., see notes of
Stocks—Last
Value. Outstanding Cent. Payable
Road. Bonds
on first page of tables.
Whom.
Dividend.
Kings County Elevated---- , ...................................
Kingston d Pembroke—
1st mort...........................
d Pittsburg—Mortg. (for $2,000,000)
Income bonds.......................................... ...........
62
/Allegany Cent., 1st mortgage, gold...................
62
do
2d mortgage, gold............. .
do
Income mort., not cumulative.
43Ó
ta k e Erie d Western—Stock......................................
430
Preferred stock (not cumulative)...........................
1st mortgage, gold................................................... 430
ta k e Shore d Michigan Southern—Stook.................. 1,340
Guaranteed 10 per cent stook................................
Consoi. 1st mort., (sink, fund, 1 per cent) coupon. 864
do
do
do
registered 864
Consol. 2d mort., do. (for $25,000,000) coup.& reg. 864
Lake Shore dividend bonds..................................... 258
95
3d mortgage (C., P. A A. RR.) registered bonds..
88
Buffalo A Erie, mortgage bonds.............................
62
Det. Monroe A Tol., 1st mort., coup., guar...........
37
Kalamazoo A White Pigeon, 1st mortgage..........
12
Schoolcraft A Three Rivers. 1st mortgage............
13
Kalamazoo A Schoolcraft, 1st mortgage...............
Kalamazoo Allegan A Gr. Rapids, 1st mortgage...
58
Kal. Allegan A Gr. Rapids, stock, 6 p. o. guar___
"si
Jamestown A Franklin, 1st mortgage...................
51
Jamestown A Franklin, 2d mortgage...................
22
Lawrence—Stock...........................................................
17
1st mortgage.........................................................
41
Lehigh d Hudson River—1st mortgage, gold.......
22
Warwiok Valley, 1st mortgage..........................
22
do
2d mortgage...........................

1882
1883
1881
1882
1882
1887
1870
1870
1873
1869
1867
1868
1876
1869
1867
1867
1868
1863
1869
1865
1881
1879
1381

$1,000
1,000
500 Ac.
100
100
1,000
100
100
1,000
1,000
1,000
1,000
1,000
500 Ac.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
50
1,000
1,000
500 Ac.
1,000

not. the principal) on the pre'sent bonds. The stook is $1,524,600 of 8
per oeut preferred and $2,600,400 of common, a majority of whioh is
held by the lessee. In the year 1885-8QI gross earnings were $458,050,
and rental, at 25 per cent, $114,512, leaving $22,987 defloit on theinterest charge paid by lessee. A dividend of 1% per cent on preferred stook
was paid December. 1881
K ings County Elevated.—Line of road on Fulton Street, Brook­
lyn. In January,1886, the following directors were re-elected: Q. A.
Gillmore, James Jourdan, Harvey Farrington, E. A. Abbott, Samuel
Thorne. James O. Sheldon, George Shea, Henry J. Robinson and Wen­
dell Goodwin. The financial statement showed, that 10 per cent of the
bonds had been paid in, amounting to $275,000. The directors elected
these officers: President, General Gillmore; Vice-President, General
Jourdan; Treasurer, James H. Frothingham; Secretary, Henry J.
Robinson. (V. 42, p. 93.)
Kingston Sc P em b rok e,—Owns from Kingston, Ontario, Canada,
to Renfrew on the Canadian Pacific RR., 104 miles; branohes, 30 miles;
total, 134 miles. Bonds are redeemable at 105. Offered in New York,
in 1887 by R P. Flower A Co. Stook, $4,500,000; par $50. Gross
earnings, 1886, $148,563; net, $48,348.
Lackaw anna Sc P ittsb u rg.—A consolidation in April, 1883, of
the Allegany Central and the Lackawanna A Pittsburg. Road operated
Jan., 1884, from Lackawanna Junotion, New York to, Perklnsville, 41
miles ; Swain’s to Nunda, 12 miles, and Olean to Angelica, 39 miles.
The last-named line is 3 ft. gauge and the others standard gauge, also
operates under trackage contract from Lackawanna Junotion to New
Castle, 207 miles. Stock $5,000,000, of which $1,500,000 is preferred.
The A. C. 1st mort. bonds are redeemable any time at 105. In 1884
Company beoame embarrassed and in D eo., 1884, a receiver was ap­
pointed, and in Feb., 1886, was authorized to borrow $50,000. Geo. D.
Chapman, President and Receiver, New York City. Earnings in 1884-5,
$70,339; defloit. $79,253; interest, $106,416; total defloit, $185,670.
-(V . 42, p. 215.)
^Lake Erie Sc W estern R a ilroa d .—Owns from Sandusky, O., to
Peoria, 111., 480 miles. This is the new company formed in 1886 after
foreclosure o f the Lake Erie A Western railway, which had been made
up by a consolidation, Deo. 12,1879, of the Lafayette Bloomington A
Muncle and the Lake Erie A Western
On April 25, 1885, the Vice-President, J. H. Cheney, was appointed
ver, and on Deo. 14,1886, a sale was made of all three divisions to
Thomas and Brice, representing the reorganization oommittee.
proposing to buy the Indianapolis Peru A Chic, road
162 miles (formerly part of Wabash), offered stockholders of record
April 2,1887, the right to subscribe for 37 •« per cent of their holdings
in new stock—preferred stockholders to take new pref. stook at 50, and
common stockholders com. stock at 20. Also issued $1,620,000 first
mortgage bonds for same purchase.
i ¿Si®»“ ®
0?1 year of this company terminates June 30. No report for
1886 has been issued.
1881-82.
1882-83.
1883-84.
1884-85.
Earnings—
$
$
Passenger...............
332,608
348,532
308,033
312,338
Freight.....................
936,008 1,023,032
815,037
891,615
Mail, express, A c’ "
155,397
131,959
141,124
31,797
Total gross earn..
Oper, expenses........

1,424,013
1,154,080

1,503,523
1,429,524

1,264,194
1,004,429

(!)
$572,000
1.642.000
1,000,000
299.000
59.000
36.000
8.600.000
8,600,000
4.300.000
49,466,500
533,500
114.791.000
24.692.000
1.356.000
920.000
2.784.000
924.000
400.000
100.000
100,000
840.000
610.000
278.000
500.000
500.000
314.000
800.000
145.000
240.000

6
j . a " j . N.Y..R. P. Flower A Co
1912
6
A. A O. Last paid April, 1884 A p rili, 1023
6
A p rili, 1923
6 «• J. a " j . Last paid July, 1884 Jan. 1, 1922
Last paid Oot., 1884
6 g.
Jan’ary
6
Jan. 1,1912
New York, Agenoy.

Jan. 1, 1937

! g- Q.—F. N.Y.,Grand Cent.Ollioo. Feb. 15. 1887
5
7
7
7
7
7
7
7
7
8
8
8
3
7
7
2
7
6
6
6

F. A A
do
do
J. A J.
Q.—J.
J. A D.
A. A O Coupons are paid bv
A. A O.
Treasur’r at Grind
A. A O
Central Depot, N.
F. A A
Y., and registered
J. A J,
Interest by Union
J. A J.
Trust Company.
J. A J.
J. A J.
A. A O.
J. A J.
J. A D.
Q .- J.
Pittsburg Office.
F. A A. N. Y., Winslow, L. A Co.
J. A J. Ops.fund. J ’y ’85-Jan.’8
A. A O. N. Y. Nat. Ex Bank,
A. A O.
do
do

Feb. 1, 1887
July 1, 1900
July 1. 1900
Deo. 1, 1903
April 1, 1899
Oot. 1, 1892
April 1, 1898
Aug. 1, 1906
Jan. 1, 1890
July 1, 1887
July 1, 1887
July 1, 188-»
April 1, 1887
Var.to J 'ly,’97
June 1, 1894
Jan. 2, 1887
Aug., 1895
July 1, 1911
1899
1911

since 1870, viz.: In 1871,8; in 1872,8; in 1873,4; in 1874, 3U; In
1875,2; in 1876, 3 ^ ; in 1877, 2 ; in 1878, 4 ; in 1879,61«; in 1880,
1881,1882 and 1883, 8 per cent eaoh year; in ’84,7: in ’85 and ’86, niL
The range in prioes of stook since 1870 has been: In 1871, 85Lj®116i4;
1872, 83tfl®98i4; 1873, 57H3>97^; 1874, 6778®84Sb ; 1875, 51M®
80t«; 1876, 48^® 68°s; 1877, 45®733e; 1878, 578<#71< : 1879, 67®
J
r
108; 1880, 95®139«8; 1881,112B8®135%; 1882, 98 «1201s: in 1883,
92^®11478: in 1884, 59i«®104%; in 1885, 50%®897a; in 1886, 76*s
® 1003s; in 1887 to Maroh 19, 90®960s.
The first consolidated mortgage bonds are redeemed eaoh year by
$250,000 contributed to the sinking fund. The above bonds of all
classes outstanding are given less the amounts held in the »inking
funds, whioh amounted to $3,750,000 Dec. 31,1885.
O p e r a t io n s , F in a n c e s , A c .—The annual reports of this oompany are
models of clearness in all the statistical matter. The road is greatly
dependent on through traffic, or traiflo from competitive points, and its
business is injured by any outting of rates.
In 1882, 140,500 shares preferred stock and 124,800 shares of oommon stook of the New York Chicago A St. Louis Railroad (a con­
trolling interest) were purchased and $6,500.000 of Lake 8. A Mich.
8. 2d consol, mortgage bonds issued to pay for it, making an additional
interest oharge of $456,890 per annum.
In the year 1885, the Company sold enough of its first consolidated
mortgage bonds to redeem old bonds falling due, and realized a premium
of $1,270,711 on the bonds so sold, whioh sum was applied to reduolng
the floating debt of 1884.
For the year 1886 the preliminary report, partly estimated, was as
follow s:
1886.
1885.
Gross earnings........................................... $15,826,616
$14,133,506
Operating expenses and taxes.................
9,709,135
9,287,537
Per cent........................ .......................
61*34
65-71
Net earnings........................ ; ..............
Interest, rentals and dividends on guar­
anteed stock...........................................

$6,117,481

$4,845*969

3,719,135

3,867,456

Surplus earnings.................................
$2,398,346
$978,513
Equals per share.................................
$4*84
$1’98
The annual report for 1885 was published in V. 42, p. 573, containing
the tables below, showing the earnings and income acoount for a series
of years:
o p e r a t io n s a n d f is c a l r e s u l t s .

1882.
1883.
1884.
1885.
1,340
1,340
1,340
1,340
Miles operated........
Operations—
Pass’gers carried.... 4,118,832
3,909,356 3,629,196 3.479,274
Pass’germ ileage.... 227,098,958 215,715,155 190,503.852 176,830.303
Rate p. pass. p. mile
2-157 cts.
2*196 ots. 2-170 ots. 2‘ 058 cts.
Fright (tons) moved. 9,195,538
8,478,603 7.365,688 8,023,093
Fright (t’ns) mileage * 1,892,868 * 1,689,512 * 1,410,545 * 1,602,567
Av. rate p. ton p. m
0-628 ots.
0-728 cts. 0-652 ots. 0'533 ots.
Earnings—
$
$
$
$
Passenger..................
4,897,185
4,736,088 4,133,729 3,639,375
Freight...................... 12,022,577 12,480,094 9,358,817 9,031,417
Mail, exp., rents, Ac. 1,305,877
1,297,474 1,351,038
1,462,713

1,235,750
l,063,3o2 Total gross earnings 18,225,639 18,513,656 14,843,584 14,133,505
Operating Expenses—
$
$
$
$
Mamt’oe of way, Ao.
2,323,789 2,095,492
1,532,232 1,614,777
Net earnings...........
269,933
73,999
259,765
172,36
Maint. of equipment.
1,552,805
990,907
1,111,329 1,347,379
5,968,350 6,592,742
5,380,166 5,277,444
V- W , 155,187, 242; Vol. 43, p. 12, 49, 66,132, 274, 431, 601 Transport’nexp’nses
634, 671, 746; V. 44, p. 22, 90,118, 211.)
Taxes.........................
503,852
530.236
521,543
518,668
709,011
792,476
588,231
529,269
foil h v
* M ic h ig a n S o u t h e r n .—Line of Road—
Bui Miscellaneous t........
Y‘’l ° Chicago, HI., 54(Tmiles; branches owned, 324 miles. Othe
fines wned as follows: Detroit Mon. A Toledo, 62 miles; Kalamazoo <
!
Total................... 11,057,807 11,001,853
9,133,521 9,287,537
7,167,832
7*511,803
5,710,063 4,845,968
PS;eon' , 7 “ Ues; Northern Central (Mich.), 61 miles; total, 16 Net earnings...........
3
60-67
59*43
61*53
65-71
{ S r l e a s e d are as follows: Kalamazoo Allegan A Gr. Rapid! P.o.of op.ex.toear’gs
FranWto, 51 miles; Mahoning Coal R., 43 miles
* Three ciphers omitted.
Southwest., 65 miles; Fort Wayne A Jackson, 98 miles
t Includes damage and loss of freight and baggage, personal injuries,
Total road owned, leased and operated, 1,340 miles.
law expenses, rents payable and hire of cars.
Rh
•*?•—Thm company was a consolidation of the Lak
Micygan Southern A North. Indiana RR. May 27, 186£
INCOME ACCOUNT.
h ^ £ t T ^ al0& Ene RR-August 16,1869. The consolidated line em
1882.
1883.
1884.
1885.
Cleveland A Toledo and the Clevelan
Receipts—
$
$
$
$
railroads. The stocks of some of the railroad Net earnings............ 7,167,832 7,511,803 5,710,063 4,845,968
iii? !? 16 consolidation forming the Lake Shore A Mlchiga Interest, divid’s, Ac.
98,392
158,540
............
............
K n « h ^ w ^ D D » n,larg^ increased by stock distributions, and o
the
tween Buffalo andioledo the profits had been so large tha
Total incom e....
7,266,224
7,670,343 5,710,063 4,845,968
h s S i M a t i S T 1 ° i th,e companies had been repeatedly watered
1
Detroit Monroe A Toledo) then en R m d ^ p a d d ? .^ ...
357,087
471,876
446,450
439,168
«Y e1 $34,938,000 stock and $22,283,000 funded debt Interest on debt.......
1
2,714,955
3,132,120 3,220,870 3,374,938
JameRUva
are the Kal. Allegan A Grand Rapid« Dividends, g u a r.....
53,350
53,350
53,350
53,350
S 2 2 S E %
and Mahoning Coal. The Detroit Monroe A To!
8inking fund............
............
............
............
250,000
the Northern Central o f Michigan, ar
Yorx C h h S m f c o n i r o i i e d by ownership of their stock. The Ne\
Total disbursem’ts 3,125,392
3,657,346 3,720,670
4,117,456
made in i «wo ^
roa4 ^ similarly controlled by the purchas Surplus for div’d ....
4,140,832 4,012,997 1,989,393
728,512
Dividends...................
3,957,320 3,957,320 2,473,325
........
Rate of dividends...
(8)
(8)
(5)
............
*533,800 ca rte . 10 pe
&u8. The ordinary stock has paid tne ’following dividend Balance............ .
sur, 183,512 sur 55,677 dei.483,932 sur, 728,512




INVESTORS’

5 6

SUPPLEMENT.

[Y ou XLIV.

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In tbese Table«
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When
Tor explanation of column headings, &c., see note3 of
of
Par
Where Payable, and by
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Lehigh < Lackawanna—1st & 2d mortgages........ .
6
25 1877 $1,000
$300,000
7
J. & D.
Philadelphia.
Lehigh Valley—Stock ($106,300 is pref.).................. 323
50 33,112,800
1
Q.—J.
Philadelphia, Office.
1st mortgage, coupon and registered..................... 101 1868
1,000
5,000,000
6
J. & D. Reg. at office; cp.B’kN.A
2d mortgage, registered........................................... 101 1870
1,000
6,000,000
7
M. & 8. Philadelphia, Office.
Consol, mort., gold, $ & £ (s. fd. 2 p.o. y ’ly) cp.& reg. 232 1873
1,000 14,257,000
6
J. & D.
do
do
Easton & Amboy. 1st mort., guar.ifor $6,000,000)
60 1880
1,000
4,500,000
5
M. & N.
do
do
Delano Land Company bonds, endorsed............... . . . . 1872
1,000
1.395,000
7
J. & J.
do
do
Little M iami -Stock, common.............................
196
....
50
2
4,837,300
Q.—M.
Cincinnati.
Street con. 1st M. bds (jointly with Cin.& Ind.RK.) . . . . 1864
1,000
250,000
6
J. & J. Cinn., Lafayette Bank.
Renewal mortgage...................................................
84 1882
1,000
5
M. & N. N. Y., Bank of America.
1,500,000
Little Bock dt Fort Smith—
Stock................................
168
....
4,505,308 10 stock.
Boston, Treasurer.
1st mort., land grant sink, fund................. . : ......... 165 1875 500 &c.
2,314,500
I. & J. N.Y.,Wm.C.Sheldon&Co
7
Funding coupon scrip................................ .............
....
....
546,790
7
J. & J.
do
do
Little Rock Miss. River Texas—1st mortgage........
170 1876 500 &c.
7
1,871,500
J. & J. Last paid Jan., 1882.
2d mortgage..............................................................
___ 1881
1,000
1,106,000
7
A. & O. Last paid April, 1882.
Little Schuylkill—
Stock...............................................
31
__*
50
2,487,850
31« J. & J. Philadelphia Office.
Long Island—Stock..................................................... 354
....
50 10,000,000
1
Q —F. N.Y.,Corbin Bank’g Co.
1st mortgage, extension...........................................
1860
500
175,000
7
M. & N.
do
do
1st mortgage, m ain .................................................
95 1868
500
1,121,500
7
M. & N.
do
do
2d mortgage............................................................... 156 1878 100 &c.
268,706
7
F. & A.
do
do
Consol, mortgage, gold (for $5,000,000)................
164 1881
1,000
3,430,000
5 g. Q.—J.
do
do
New York < Roekaway, guar. int. only................
&
10 1871
500
250,000
7
A. & O.
do
do
Smithtown & Port Jefferson mortg., guar.............
19 1871 • 500
600.000
7
M. & S.
do
do
Equipment certificates............................................. •• • . . . .
•
60.000
7
Long Island Oily < Flushing—1st M., coup, or reg. 10% 1881
6
1,000
M. & N. N.Y., Corbin Bank’g Co.
600,000
6
Income bonds (cumulative) ($350,000).................. 10% 1881
1,000
312,000
6
Jan. 1
do
do
Los Angeles < San Diego—1st M. (for $2,800,000)..
&
1,000
27 1880
556,000
6
J. & J. N. Y., Central Pacific.
Louisiana Western—1st mortgage, g o ld .................. 112 1881
1,000
2,240,000
6 g. J. & J. N. Y., South Pac. R R
Louisv. Evansv. < St. Louis.—1st mort. E. R. & E ...
£
72 1881
1,000
900,000
6
J. & J.
1st mortgage, gold, for $2,000,000 (2d on 72 M.)\ 255 1886
1,000
1,000,000
6 g.
2d mort., gold, for $J,000,000,1st coup, due '87 .. 255 1886
1,000
3,000,000 2 to 6 g.
Louisville < Nashville—Stock........................... ......... 2,065
6
....
100 30,000,000
3
F. & A. L. & N. RR., 52 Wall St.
General mort.. gold, coup, or reg. ($20,000,000). 840 1880
1,000 12,207 000
6 g- J. & D. N. Y., Drexel, M. & Co.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAS.

Bonds—Princi pal. When Due
Stocks—Last
Dividend.
Deo. 1.1907
April 15.1887
June, 1898
Sept., 1910
1898 & 1923
1920
Jan., 1892
Mar. 10,1887
1894
Nov. 2, 1912
July 18, 1881
Jan. 1, 1905
Jan. 1," 1906
1911
Jan. 8, 1887
Feb 1, 1887
May 1, 1890
May 7, 1898
Aug. 1, 1918
July 1. 1931
April 1,1901
Sept., 1901
May
May
July
July
July

1, 1911
1, 1931
1, 1910
1, 1921
1, 1921
1926
1936
Feb. 1, 1882
June 1, 1930

1883-84.
1884-85.
1885-86.
Disbursements—
«.
$
1883.
1884.
1885.
$
$
$
$
$
interest on debt.............................
2,057,207
2,059,541
2,048,201
70,048,600 70,048,600 70,018,600 General, taxes, float’g int., loss on
Morris Canal, depreciations, &c.
473,355
17,300,000 17,300,000 17,300.000
650,385
682,003
365,780
365,780
365,780 Dividends*....................................... 2,372,242
1,660,234
1,331.531
715,000
715,000
715,000
Total disbursements.
4,902,804 4,370,160
9,414,477 12,012,839 12,195,068
4,061,735
1,554.030
933,080
645,400 Balance, surplus.......... .
37,474
30,103
40,251
1,421,342
1,454,942 1,461,147
* In 1884, 10 on pref. and 8 on com.; in 1885,10 on pref. and 5 on
1,221,178
966,311
673,474
317,320
218,682
235,795 com ; iu 1886,10 on pref. and 4 on com.—(V. 42, p. 1 2 3 ; Y. 44, p.
532,545
1,249,858 1,588,590 117.)
Little M ia m i.—Owns from Cincinnati, O., to Springfield, O., 84
Total assets........ 102,761,634 102,940,272 105,265,092 105,228,854 miles; branch, Xenia. O., to Dayton, O., 16 miles; leased, Columbus &
TAn h i
S
R
ft
ft
ft
Xenia RR., Xenia to Columbus, O., 55 miles; Dayton & West, RR., DayStook......................... 50,000,000 50,000,000 50,000,000 50,000,000 ton, O., to Indiana State Line, 38 miles: Ohio State Line to Richm’d, Incl.,
Bonds........................ 44,716,009 44,466,000 47,716.000 47,466,000 4 miles; Cinoin. Street Conn. RR., 2 miles; total operated, 198 miles. The
1,016,005
1,016,005
26,675
26,674 Little Miami Railroad proper extends from Cincinnati to Springfield, but
Dividends................
Other liabilities... ..
2,133,677
2,506,589 2,975,161 1,131,670 the portion between Xenia and Springfield is now operated as a branch;
Profit and loss.........
4,896,002
4,951,678 4,547,256 6,604,510 for the remainder of the main line, as given above, the Col. & Xenia
road, Columbus to Xenia, is used. On Jan. 1,1865, they leased the DayTotal liabilities.. 102,761,684 102,940,272 105,265,092 105,228,854 ton & West. (Dayton to Ind. State line) and the Rich. & Miami (State line
—(V. 42, p. 4, 22, 272.561, 5 7 3 , 631, 728, 783; Y. 43, p. 6, 23,245, to Richmond), and on Feb. 4,1865, purchased the road from Xenia to
634, 774; V. 44, p. 6, 22, 276 )
Dayton; these three roads go to form the branch of 57 miles given
L a w r e n c e ,-Owns from Lawrenoe Junction, Pa., to Youngstown, O., above. The partnership agreement was dissolved Nov: 30,1868, and a
18 miles; branch from Canfield Junction to Coal Fields, O., 4 miles; total contract made by which the Col. & Xenia road, including its interest in
operated, 22 miles. The Lawrenoe Railroad was leased June 27, 1869, the above-named branohes, was leased to the Little Miami for 99 years.
On Deoember 1, 1869, the Little Miami, with all its branohes, Ao.
to Pittsburg Fort Wayne & Chicago RR. at 40 per cent on gross earnings,
with $45,000 per year guaranteed as a minimum. Lease has beentrans- was leased to the Pittsburg Cincinnati & St. Louis Railroad Com­
ferred to Pennsylvania Co., by which the road is now operated. Gross pany for 99 years, renewable forever. The Pennsylvania Railroad
earnings in 1885, $166,236; net, $74,123; rental from Penn. RR. and Company is a party to the contraotand guarantees its faithful execution.
Road is now operated by Pittsburg Cin. & St. Louis Railway Co. Lease
Interest received, $67,159; payments, $82,199.
L eh ig h Sc H u d s o n R iv e r .—This road was opened from Grey rental is 8 per cent on $4,837,300, interest on debt and $5,000 per
for Little Miami Company’s expenses of organization; the fulfil­
oourit, on Erie road, to Belvidere, N. J., 63 miles. August, 1882. Con­ annumof the
ment
1886. rental,
solidation April, 1882. of the Lehigh & Hudson River and the Warwick &c., received,lessor’s lease obligation is also stipulated. In $15,451. In
$634,129; payments, $663,677; surplus,
Valley roads. In addition to above there are $65,000 Wayawanda 6 per 1885 rental, &o., $697,787; payments, $664,677; surplus, $15,452
cent bonds due 1900 and $52,000 Lehigh & Hudson River 2d 6s, loss to lessee, $423,976,
due 1909. Stock, $1,340,000. Coupons due July, 1885, not paid, and
L ittle Rock. Sc F ort S m ith .—Owns from Little Rook, Ark., to
bondholders agreed to fund four coupons July, 1885, to Jan., 1887, in­
clusive. In Dee., 1885, a traffic contract was made with Lehigh Coal & Fort Smith, 165 miles; branches, 5 miles; total, 170. In Deo., 1874,
Nav. Co. In 1883-84 gross earnings, $162,795; net, $74,242; interest the property (then 100 miles), including the land grant, was sold in
on bonds, $81,802. In 1834-85 gross earnings $173,007, net. $65,012; foreclosure. This oompany afterwards built 65 miles, and opened the
deficit under interest, Ac., $20,162. Grinnell Burt, Pres., Warwick, N.Y. road to Fort Smith July 1,1876. Six coupons of July, 1876, and after
Leh igh Sc L a ck a w a n n a .—Owns from Bethlehem, Pa., to Wind were funded into 7 per cent notes. In June, 1333, bondholders funded
Gap, Pa., 25 miles; thence, in connection with the Wind Gap & Dela­ into 10 year scrip the coupons falling due July, 1883, and January,
ware Railroad, to Bangor, Pu„ 32 miles. It is operated by the Central 1884. Payment of coupons in cash resumed July, 1834.
The lands unsold Jan. 1,1886, amounted to 638,067 acres, and land
Railroad of New Jersey under a special agreement. Opened in 1867.
Of the above bonds, $100,000 are a 1st mort., and $500,000 2d notes, $427,075; in 1885, sales of 25,663 acres previously made were
mort. Capital stock, $370,500. Gross earnings in 1885, $62,076; net, canceled.
In March, 1837, the proposal was made to stockholders to exchange
$12,723. In 1886, net, $13,860.
L eh ig h V a lle y,—Owns from Phillipsburg (Pa. Line), N. J., to four shares of stook for three of the St. Louis Iron Mountain &
Southern.
gross earnings were $614,288; nefr
WUkesbarre, Pa., 104 miles; branohes—Penn Haven to Audenried, iuterest on In 1885taxes, &c., $227,857; balanoe, surplus, $225,910;
bonds,
$42,686;
18 miles ; Hazle Creek Bridge to Tomhicken (and branohes), 32 miles; land dept, expenses, $42,427. Annual report in V. 42, p. 574. J. H.
Lumber Yard to Milnesville (and branches), 18 miles; Black Creek Junc­ Converse. Pres., Boston. (V. 42, p. 155,215, 57 4 ; Y. 43, p. 125, 334,
tion to Mt. Carmel (and branohes), 61 miles; Slatedale branch, 4 miles; 437; V. 44, p. 275,308.
f
.
Bear Creek Junction to Bear Creek, 11 miles; Lackawanna Junction to
Little R o c k M ississippi R iver Sc T ex a s.—Owns from Little
Wilkesbarre, 10 miles; State Line & Bull. RR., Monroeton to Berwick,
24 miles; also owns the Easton & Ambov RR., Amboy, N. J., to Pennsyl­ Rock to Arkansas City, 113 miles; Tripps to Warren, 53 miles; Rob
Roy Junction to Micawber, 4 miles; total, 170 miles. This com­
vania Line, 60 miles; total operated, 346 miles.
This is one of the most important of the coal roads. Dividends on the pany was a reorganization of the Little Rock Pine Bluff & New Orleans
ordinary stook have been as follows since 1870: In 1871,1872.1873, Railroad and the Mississippi Ouachita & Red River Railroad. Both
1874 and 1875,10 per cent paid; in 1876, 9; in 1877, 5^; in 1878,1879 those companies received land grants and State aid bonds, and this com­
and 1 8 8 0,4 ; in 1881, 5 % in 1882, 6 1 in 1883 and 1884, 8; in 1885, 6; pany is involved with others as defendant in the suits by Arkansas State
«:
in 1886, 4. Prioes of the oommon stock in Philadelphia sinoe 1877 were bondholders. The coupons due Jan. 1,1383, were not paid, and scrip
as follows: In 1878, 32%@421 in 1879, 33hi®55 ; in 1880, 46@57%; was offered to bondholders for two years’ interest to be funded. Fore
4;
in 1881, 57*2@64Jig; in 1882. 58i4@67%; in 1883, 63@731 in 1884,57 closure suits were begun in Nov., 1885, and in Feb., 1886, E H. Win
4:
®7178; in 1885,541
a3,611 in 1886, 55l4@62; in 1887 to March 19, 56 Chester and John Reed were appointed receivers. A new plan of reor­
4;
ganization was referred to in the Ch r o n ic l e o f Oct. 30,1886, p. 515.
®57.
The flsoal year ends November 30. The last annual report was in the The road was sold Dec. 15,1886, a id sold aga'n Jan. 28,1887, and pur­
C h r o n ic l e , V. 44, p. 117. It is one of the peculiarities of the company’s chased, as rep ine 1, in the interest of Jav Gould for the nominal price of
annual report that no general balance sheet is given. The earnings, $1,800,000. (Y. 42, p. 304; V. 43, p. 515,607, 618, 738; V. 44, p, 22, 59,
expenses and income account for the fiscal years ending Nov. 30. w ere: 185, 277.)
L ittle S c h u y lk ill.—Owns from Port Clinton to Tamanend, 28
1883-84.
1884-85.
1885-86.
miles; branohes, 3 miles; total operated, 31 miles. The East MahaEarnings—
$
$
$
Coal freight..................................... 6,295,282 6,079,542 5,669,236 noy RR., was leased Jan. 12,1863, for 99 years, and sub-leased to Phila.
Other freight................................... 3,763,429 1,617,236 2,106.469 & Reading July 7,1868. The Little Sobuykill Railroad is leased to the
Passenger, mail, express, &c........
889,496
860,139
96RÔ51 Philadelphia & Reading Railroad for 9 J years from July 7,1868, at a
fixed annual rental
Total gross earnings................... 8,94«,207 8,556,917 8,744,756
L o n g I s la n d .—Owns from Long Island City, N. Y., to GreenOperating expenses....................... 5,246,073 4,888,998 5,293,816 port, N Y., 95 miles; branches, 83 miles; total owned, 178 miles.
T
Leased—
Smithtown & Pt. Jefferson R R „ 19-0 miles; Stewart RR. to BethNet earnings
............ $3,702,134 $3,667,919 $3,450,940 page, 14-5 ; Stewart RR. to Hempstead, 1*8 ; New York & Roekaway
INCOME ACCOUNT.
RR., 8-9 ; Brooklyn & Jamaica RR., 9-6 ; Newtown & Flushing RR.,
1883-84.
1834-85.
1885-86. 3-9 ; Brooklyn & Montauk, 67 ; Manhattan Beach RR., 16-1 ; N. Y. Bay
Receipts—
$
$
Ridge & Jam., 4-2 ; L. I. City & Man. Beach, 1-4 ; Hunter’s Point < So.
fc
$
Net earnings...................................... 3,702,134 3,667,919
3,450,940 Side RR., 1*5; Far Roekaway branch, 9-4 ; L. I. City & Flushing RR..
Other receipts and interest .......... 1,233,144
732,344
651,046 14 ; Whitestone Br., 4; Woodside Br., 3*9. Total leased and operated,
178*3 miles. The total of all the roads owned and operated is 356*5
Total net income.......... ............ 4,940,278 4,400,263
4,101,986 miles.
1882.
A ssd s
$
Railr’d, build’gs, &e.
69,848,600
Equipment............... 17,169,000
R’l est. & office prop.
365,780
Oh.& Can.So.bds.,&o.
660,000
Stocks owned, cost..
8,702,428
Bonds owned, oo st..
2,127,180
Advances..................
1,394,956
Materials, fuel, & o...
1,355,153
Gash on hand............
534,275
Uncollected earnings
604,312




M a r c h , 1887.]

RAILKOAD STOCKS AND BONDS,

57

S u b sc rib e rs w ill confer a great]faror]by3giving Im m ediate notice o f any error discovered in tliese Tables.
Bon</s—
Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.________________
Miles Date Size, or
pal,When Due.
Amount Rate per I When
Par
of
Where Payable, and by Stocks—Last
jior explanation of column headings, Ac., see notes of
Road. Bonds Value. Outstanding Cent. Payable
Whom.
on first page of tables.
Dividend.
Louisville A Nashville - ( Continued) —
Louisville loan, main s te m ........ ................ .......
Lebanon branch extension, Louisville loan........
Lebanon-Knoxville extension mort. ($1,500,000)
Cecilian Branch, 1st mortgage, sinking fund........
Consolidated 1st mortgage.....................................
Memphis & Ohio, 1st mort., sterling, guar............
Memphis & Clarksville br.. 1st mort., sterling....
Mort. on Ev. Hen. A N., g o ld ................................
Collateral trust, 3d mort., gold, sink, fund.............
10-40 Adj. M., gold, coup, or reg. (red’ble aft. ’94)
1st mortgage on New Orleans A Mobile R R .........
2d mortgage
do
do
............
Bonds sec’d by pledge of 2d mort. S.&N.Ala.RR..
1st M., gold, on Southeast.* St.L.RR.,coup.or reg.
2d mort., gdld, on Southeast. & St. Louis RR., op.
PensacolaDiv., 1st mort., gold................................
Mobile & Montg. Div., 1st M., ($2,677,000)..........
Pensacola & Selma Div., IstM ., gold ($1,248,000)
Pensa. & Atl., m. gold, guar., $1,000,000 pledged.
Louis. Cin. & Lex., 1st mort...................................
do
2d mort.,coup., for $1,000,000
L. & N. mort. on L. C.&L., gold,$3,208,000 plagd
Car trust liens ($ 1,721 payable eaoh month)........
Car liens, Louis v. Cin. & L ex...................................
Henderson Bridge Co., 1st mort., gold...................
Louisville New Albany A Chicago—Stock................
1st mortgage, coup, or reg......................................
Mort., gold, on Chic. & Ind’polis Div., coup, or reg
2d mortgage, gold, coup, or reg.............................
Consolidated mortgage gold (for $10,000,000) —
Car Trust Certificates...............................................

$ ....
110 1863
1,000
172 1881
1,000
46 1877
1,000
392 1868
1,000
130 1871
£200
83 1872
£200
1,000
135 1879
1,000
1,079 1882
1,000
783 1884
141 1880
1.000
141 1880
1,000
1.000
189 1880
1,000
208 1881
1,000
208 1881
1,000
45 1880
1,000
180 1881
1,000
104 1881
1,000
185 1881
1,000
175 1867
175 1877 100 Ac.
1,000
175 1881
1,000
. . . . 1882
521
288
158
446
520
....

1881
1880
1881
1883
1886
....

1,000
100
1,000
1,000
1,000
1,000
....

The Long Island Railroad went into the hands of a receiver October,
1877, but in 1881 the company resumed possession. The second mort­
gage bonds were issued to take up floating debt of various classes.
The control of the company was sold to the “ Long Island Company,”
controlled by Mr. Austin Corbin and others, in Dec., 1880. In July,
1881, the stock was increased from $3,260,700 to $10,000,000. In
August, 1881, most of the holders or Smith town & Port Jefferson
bonds and N. Y. & Rockaway bonds agreed to exchange their bonds for
the consolidated mortgage, bearing 5 per cent.
No annual rc ports have been issued and the only information obtained
is from the statistics furnished the State Authorities. The road has been
much improved in its operating department under the present manage­
ment.
For the quarter euding Dec. 31 gross earnings were $843,457,
against $>15,061 in 1885; net, $223,515, against $222,405; surplus
over fixed charges, $95,473, against $87,171.
The reports for four years made to the RR. Commissoners gave gross
earnings, *o., as follows. The surplus in 1885-86 overall payments
and dividends was $185,204.
1882-83.
1883-84. 1884-85.
1885-86.
Miles operated. . . . . . . . . . . . .
354
354
354
356
Earnings and Expenses—
$
$
$
$
Passenger earnings.............1,695,177 1,759,597 1,307,346 1,878,447
Fn ight earnings................ 718,743
720,630
727,623
798,817
Miscellaneous earnings....
271,169 276,005
291,069
317,508
Gross earnings............ 2,685,089 2,756,232 2,826,478 2,994,772
Exj enses and taxes.......... 1,683,814 1,359,505 1,795,252 1,872,325
Net earnings................. 1,001,275
896,727 1,031,226 1,122,447
Lease rentals...................... 282,466
287,693
297,559
304,063
Interest and sinking fund.. 209,059
190,876
207,922
312,335
There are also Atlantic Avenue Improvement certificates, $28,875, at
7 per cent; real estate mortgage, $238,000, 5s and 7s; time loans,
$350,000, at 6 per cent. (Y. 42, p. 187, 487, 549; V. 43, p. 191, 7 4 5 ;
V. 44, p. 212.)
Long Islan d City * F lu sh in g .—Road from Long Island City to
Great Neck, 14 miles; branches, 8 miles; total, 22 miles. This is a reor­
ganization of the Flushing & North Side road, foreclosed December 11,
1880. The stook is $500,000; par, $100. The inoome bonds are pay­
able at will. The company is liable for $25,000 of New York & Flushing
bonds, due 1920. Leased to Long Island RR. for 50 years, the lessee
aking 60 per cent of gross earnings and $17,500 for fixed oharges. In
1883-84 gross earnings were about $213,000, of which 40 per cent to
this company was $85,035; in 1884-5, rental $116,537; in 1885-6,
rental, $119,995. Alfred Sully, President, New York|City.
Los Angeles Sc San D ie g o .—
Florence to Santa Anna, Cal., 27>
miles. Leased to Cent. Pac., and in 1884 the net earnings paid as rental,
and other income was $33,374; interest, &o., $35,121, Capital stook,
$570,800. Chas. Crocker, Pres., San Francisco.
L o u is ia n a W e s t e r n .—Owns from Lafayette, La., to Orange
Texas, 112 miles, leases extension in Texas, 7 miles; total, 112 miles
leased and operated by the South. Pac. Company, being part of the
through line between New Orleans and Houston. For one month from
•JJ* 1 tf> Jan. 31, gross earnings were $58,539 in 1887, against
$51,321 in 1886; net, $26,600, against $25,227. In 1886 gross earn­
ings were $644,689 ; net, $329,217. Surplus over interest and all
charges, $165,658. Gross earnings for year 1885 were $627,317; net,
f ¿43,445. 8tocx is $3,360,000. (V. 42, p. 243, 6 2 9 ; Y. 43, p. 133,
163; V. 44, p. 344, 369.)
t
E v a n s v ille Sc St. L o u is .—Line of road. New Albany,
ina., to Mt. Vernon, His., 182 miles; branches to Jasper & Gentryville, 73
mnes; total, 255 miles; opened Oct., 1882. The road was formerly the
JjOuisvUle New Albany & St. Louis, foreclosed in 1878. In Oct., 1881,
»Qoe
a^ on was made with the Evansv. Rockport & Eastern, and the
»»00,000 of E. R. & E. 1st mortgage bonds stand as a prior lien on that
mvision. The foreclosure sale was made June 9,1886. The plan of re+^Snization was kt V- 41, p. 720, by which 1st mortgage bondholders
took new second mortgage bonds and a first mortgage of $2,000,000
was issued as a prior lien. The stock is $1,500,000 prei. 5 per cent, nonico o
and $3,500,000 common; the Dar of all shares is $100. In
To. . 4 *” 2« earnings were $668.898; net, $95,305. In 1884-85 gross
274^302’ 4316 452 5 net’ $142>
224* (V. 42, p. 519, 728; V. 43, p. 125,
* N ash ville .—(See Map.)—Line op Road.--Main
Louisville to Nashville, 185 miles; branches—Junction to Bards-'-7; Junction to Livingston, Ky., 110; Livingston to Jelv™’
64
to
Dranfth fcn : MontgomeryK. Mobile, 179; New r___ni- to a .
m___ a- -aOrleans nr Mobile, 141;
o^
.’

$201.000
6
A. A O
New York Agenoy.
1887
333.000
6
A. A 0 N. Y., Drexel, M. A Co. Oot. 15, 1893
Pledged.
6
M. A S. New York, Agenov. March 1, 1931
850,000
M. A S. N. Y., Drexel, M. A Co. Mar. 1, 1907
7
7,070,000
7
A. A O.
do
do
April, 1898
3,500,000 K ' 7
J. A D. London, Baring Bros. June 1, 1901
2,015,360
do
do
6 g. F. A A.
Aug., 1902
2,380,000
6 g. J. A D. N. Y., Drexel, M. A Co. Deo. 1, 1919
9.790,000
6 g. Q.—Mai N. Y., Drexel, M. A Co. Mar. 1, 1923
5,000.000
Nov. 1, 1924
6 g. M. A N. New York, Agenoy.
5,000,000
6 g. J. A J. 50 Exchange Place.
Jan. 1, 1930
1,000,000
6
J. A J.
do
do
Jan. 1, 1930
1,960,000
6
A. A O. N. Y., Drexel, M. A Co. April 1, 1910
3,500,000
do
do
March 1, 1921
6 g. M. A 8.
3,000,000
3 g. M. A S.
do
do
March 1, 1980
600,000
do
do
6 g. M. A 8.
Mar. 1, 1920
. Pledged.
May 1, 1931
6 g. M. A N. 50 Exohange Plaoe.
Pledged.
6
M. A 8.
do
do
Mar. 1, 1931
2,000,000
6
F. A A. N. Y., Hanover Nat.Bk. Aug., 1921
2,850,000
7
J. A J. N. Y., 50 Exohange pi. Jan., 1897
892,000
7
A. A O.
do
do
1907
50,000
6 g. M. A N.
do
do
Nov. 1, 1931
971,000
6
A. A 0.
Philadelphia.
Oot. 1,1886-89
39,594
1886-88
2,000,000
New York.
6 g. M. A 8.
Sept. 1, 1931
5,000,000
3,000,000
6
J. A J. N.Y., Nat.Bk.Commeroe July 1, 1910
2,300,000
do
do
6 g. F. A A.
Aug. 1, 1911
855,000
do
do
6 g. F. A A.
Feb. 1, 1888
2,500,000
6 g. A. A O.
do
do
Jan. 1, 1916
600,000
8
J. A D.
1892

leased and controlled, 410 miles: total operated June 30,1886, 2,02$
miles. Also owns the Riohmond Branoh (leased to Kentucky Central),
34 miles, and the Cecilian Branoh (leased to Ches. O. * So. W.), 46 miles,
and controls, by ownership of a majority of the stook, the Nashville
Chattanooga & St. Louis RR., 580 mues; the Owensboro & Nashville, 84
miles; the Pensacola * Atlantic, 161 miles; the Nashville * Florence
RR., 56 miles ; Birmingham Mineral Railroad, 11 miles, and Henderson
Bridge and connecting traok, 10 miles—total, 902 miles; also, as joint
lessees with the Central of Georgia, is Interested in the Georgia Railroad
and its auxiliaries, 679 miles.
Organization, L eases, Ac.—The Louisville & Nashville was chartered
March 2,1850, and opened between Louisville and Nashville November,
1859. The Memphis branoh, completed in 1860, was operated in con­
nection with the Memphis A Ohio and Memphis Clarksville A Louisville
roads, which were purchased by the L. A N. The other roads embraoed
in the system have been purchased outright or are controlled absolutely
by ownership of a majority of the stook, except those under leases, as
above described. The liabilities for interest are treated mostly as
belonging directly to the Louisville A Nashville Company. The South­
east. A St. Louis RR., which was reorganized after foreclosure of the
St. Louis A Southeastern, Nov. 16,1880, is leased to the Louisville A
Nashville for 49 years, and the L. A N. issues its bonds as above,
secured on the road, about 210 miles long in Indiana and Hlinois.
There is also $999,500 of 8. E. A St. L. stook. The flsoal year of L.
A N. ends June 30. Annual election is held early in October.
Stock and B onds.—At the dose of the fiscal year (June 30) 1880 the
capital stock was $9,059,361, and in Nov., 1880, the stook dividend o f
100 per cent was made, raising the amount to $18,133,513. In Ootober,
1882, the company listed at the Stock Exohange $3,080,000 stook sold
by the city of Louisville, raising the stockoutstanding to $21.213,513,
and $3,786,487 more was then listed, raising the amount to $25,000,000. In Oot., 1884, the remaining $5,000,000 unissued was offered to
a syndicate at 22 ig with the $5,000,000 bonds at 55, raising the stook to
the full limit of $30,000,000. (See V. 39, p. 409.)
All tbe dividends paid since 1870 were as follows: In 1871, 7 per
cent; in 1872, 7 per cent; in 1873, 7 per cent; in 1877, l 1 per cent:
«
in 1878, 3 per cent; in 1879,4; in 1880, 8, and 100 per cent in stook i
in 1881, 6; in 1882, 3; nothing since.
Prices of the stock from 1872 to date have been: In 187$,
50®79; in 1874, 53®59; in 1875, 36ifl®40; in 1876, none; in 1877,
26® 41; in 1878, 35®39; in 1879, 35®891 in 1880, 77® 174; in 1881,
u;
79®1101 in 1882,461
a;
3®1003i ; inl883,40<fe®581 in 1884. 22*fl®513fc;
e;
In 1885, 22®51%; in 1886, 33<>8®69; in 1887 to March 19, 57®674i.
The general mortgage of 1880 is for $20,000,000, of wnioh the bal­
ance unissued is reserved to pay off prior liens, and the mortgage covers
840 miles of road subject to such liens. The Louisv. A Nashv. LebanonKnoxville bonds of 1881 cover 110 miles, subjeot to prior liens, and 62
miles from Livingston to State line as a first lien. The Pen. A Atlantio
is a separate company and the bonds are not a direct liability of the
L. A N. Co., but principal and interest are guaranteed by L A N . A
sinking fund begins Feb., 1889. The P. A A. has issued to the L. A N.
$1,000,000 land grant bonds pledged for advances to the P. A A.
The third mortgage trust deed of 1882 is made to E. H. Green and
John A. Stewart as trustees, and has a sinking fund of 1 per cent
annually begun in February, 1885, the bonds drawn being redeemable
at 110. The bonds are secured by pledge of a large amount of stocks
and bonds belonging to the Louisville A Nashville Company and
held as collateral security by the trustee of the mortgage. The
securities pledged were stated In detail in the Supplement up to the
number for August, 1884, the par value of bonds being $9,633,000
and stocks $18,529,700 ; total, $28,162,700. (See estimate of actual
value in V. 41, p. 445.)
The 10-40 Adjustment mortgage bonds were issued in 1884, and
cover 783 miles of main line ana branches, subject to the prior liens,
and are a second lien on the trust securities pledged under the trust
deed of 1882. See V. 39, p. 409.
The Henderson Bridge Co. bonds are not a liability of the L. A N. The
bridge is owned by a separate company, with a stock of $1,000,000, of
which the L. A N. Co. holds $501,000; the Bridge Co. is guaranteed
gross receipts of $200,000 per year by the several roads using it.
Operations , F inances, A c.—The Louisville A Nashville system haw­
ing been developed in its present extensive form since 1879 has a short
history. The 100 per cent stock dividend declared in 1880 was made
before the working and result of the newly-acquired roads could be
fully developed.
For seven months from July 1 gross earnings were $8,891,240 In
1886-7, against $7,892,612 in 1885-6; net, $3,670,444, against $3,062,-

The annual report for 1885-86 was in the Chronicle, V. 43, p. 486.
The comparative statistics were as follows for the roads operated as the
Louisville A Nashville system proper
1882-83.
1883-81.
1884-85.
1885-86.
Thq * T '
Muscogee clock, i ; ix)uisviiie, Ky., to noys
H & o * c-Son to Lexington. 67: Louisville H. Cr. & W’port. (n. g .),ll; Total gross earns......$13,234,915 $14,351,093 $13,936,347 $13,177,018
a
8,823,782
8,182,255 8,213,295
Eineapple, Ala., 39; Henderson to Nashville, 135; Junction Oper’g ex. (excl.tax.) 8,099,595
\6; Pensacola extension, 26 ; total owned, 1,612 miles;
Ì?i^T,.an, , eoiitrohed—Junction to Glasgow, Ky., 10; Nashville to Net earnings............. 5,135,320 5,527,311 5,754,092 4,963,72$
d
l 19À,D®
oatyg
Montgomery, 183 ; Junction to Wetumpka, 6;
61'20
61*48
58*71
62*33
«OhoToS H Shelbyville, 19; Louisville Transfer, 4 ; No. Div. Cumb. & Per ot. of ex. to earn.
“ o, 27 5 Lebanon to Greensburg, 31; Elkton to Guthrie, 11; total
* Includes rent, rent of cars and engines, Ae.




INVESTORS’

9 8

MAP OF THE

LOUISVILLE & NASHVILLE
RAILROAD
AND CONNECTIONS.




SUPPLEMENT,

[Vol. XLIV.

89

RAILROAD STOCKS AND BONDS

M a r c h , 1887. J

Subscriber» w i l l confer a great fh v o r b y g iv in g Im m ediate notice o f a n y error dl»covered In these T a b le »»
Bonds—Prlnol INTEREST OR DIVIDENDS.
d e s c r ip t io n .
pal,When Doe.
________________
_____ :------- Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par Outstanding
For explanation of column headings, Ac., see notes of
of
Dividend.
Whom.
Cent. Payable
v
on first page of tables.
Road. Bonds Value.
Louisville New Orleans <t Texas—Stock.
1st mortgage, coup, or reg...................
2d mort. for ($7,899,000)....................
Income bonds (not cumulative). . . . . . .
Lvlcens Valien—S t o c k .........-- ...-.- .-.
Mahoning Cool—Common stock— . . . .
Preferred stook, guar, by L. S. A M. 8
1st mort, coup., pr. A in t , guar., by L. S. & M. So
Maine Central—Stock..........................................
1st mortgage, consolidated...............- ....... . .
Collateral trust bonds for Mt. Desert Branoh
Sinking fund 10-20 gold bonds.......................
Bonds ($1,100,000 loan) A. A. K. R R ...........
Extension bonds, 1870, gold...........................
Maine Central loan for $1,100,000.................
European A North American (Bangor loan)..
Leeds A Farmington Railroad loan
Androscoggin Railroad, Bath City loam ...............
Portland A Kennebeo, consolidated mortgage—
Manchester < Lawrence—
6
Stock.................................
Manhattan (Elev.)—Consol, stock..............................
Metropolitan Elevated. 1st mortgage....................
do
2d M. (guar, by Manhat’n).
N. Y. Elevated, 1st M.(payable at 105 after 1896)
do
Debentures, coup.........................
Marietta Columbus < .V.—1st M.,gold,(Mar.Mineral)
6
Marietta £ North Georgia—1st M., gold, $7,000 p.m.
2d mort. ($6,000 per mile).......................................
Marquette H. <t O.—Common stook...........................
Preferred stock................................... ......................
1st mort., M.A O., coup............................................
M. H. A O. mortgage.................................................

455
455
455
21

43
43
43
482
304
41
55
18
109
56
36
30
71
26
32
18
18
14
14
42
120

120

160
160
50
90

INCOME ACCOUNT.

Receipts—
Net earnings...........
Inoome from invest’s

1882-83.
5,131,320
134,771

1883-84.
$
5,527,311
272,833

1884-85.
$
5,754,092
198,591

$100

1884
1886
1884

1,000

1834

50
50
1,000

1872
1883
1885
1860-1
1870
1868
1869
1871
1866
1865
1878
1879
1876
1886
1885
1881
1881
1872
1878

1,000
20

100

100 Ao

$4,550,000
13,650,000
6
9.100.000
600,000 - 21«
1.373,000»
" ¿ i*
372,610
5
1.500.000
3
3,603,300
4,176,400 5 A 7
5
694.000
599.000

i',òdò
l g1. 100.000
100 Ac.
496,500
500 Ao.
6 «.
7
756,800
100 Ao.
6
1 , 000,000
500 Ac.
6
633.000
100 Ao.
6
425.000
100 &c.
6
1,166,700
100 &o.
5
1,000,000
100
11«
100 24,395,700
6
1,000 10,818,000
4.000.
000 6
1.000
7
8,500,000
1,000
1.000.
000 5
1.000
650.000
100Ao.
6g840.000
1.000
6 g.
600.000
1,000
6 g.
4
3,398,100
100
21«
2,259,026
100
8
1,427,500
100 Ac
6
576,200
1,000

M. A 8.

New York, Office.

Sept. 1, 1934

August.
Q.—J.

New York, Office.
New York, Treasurer.

Sept. 1, 1934
Jan. 2, 1887

J a n .1, 1887
July 1.1934
Feb. 15,1887
April 1,1912
June 1,1923
Feb. 1,1905
1890 to 1891
Oct., 1900
July, 1898
Jan. 1,1894
July, 1891
July, 1891
April 1, 1895
Nov. 1, 1886
April 1, 1887
July. 1908
Nov. 1. 1899
Jan. 1. 1906
Mar. 1, 1916
May 1,1915
July 1,1911
July 1, 1911
in 1883
Aug. 16,1886
F. "À A.
*
J. A D. Boston, N. Eng. Tr. Co. June 1, 1892
Mar. 1, 1908
do
do
M. A S.
N. Y. Union Tr. Co.
J. * & 'j
do
do
J. A J.
F. A A,
A. A O. Boston, 2d Nat. Bank.
J. A D. Bost., Am.LoanA Tr.Co.
F. A A Boston, 2d Nat. Bank,
do
do
M’nthly
do
do
A. A O.
do
do
J. A J.
J. A J. Bost., Meroh’ts’ Nat.Bk.
J. A J. Boston, 2d Nat. Bank,
do
do
Q .-J .
do
do
A. A O.
M. A N. Manchester and Boston.
Q .-J . N. Y., Mercantile Tr.Co
do
do
J. A J.
do
do
M. A N.
do
do
J. A J.
do
do
M. A S.
M. A N New York, Agenoy.
J. A J. Boston and New York,
do
J. A J.

1884.
Gross earnings___ ________$1,561,436
1885-86. Operating e x p en ses......... 1,865,144
$
4.963,723
Net earnings.................. $199,292
537,300
207,807 Fixed charges...............

1885.
$1,680,454
1,332,035
$348,418
537,800

1886.
$1,919,189
1,278,528
$640,661
.......

Defloit.............................. $338,008
$188,882
.............
Wm. Dowd. Pres’t, N.Y. (V. 42, p. 125, 243, 365, 397, 604. V. 43, p ,
370,814 334, 458, 607, 774; V. 44, p. 59, 90, 34 2 .)
15,000
L o u is v ille N e w O rle a n s Sc T e x a s —(See map)—Line of road
4,085,706 Memphis, Tenn., to New Orleans, La., 455 miles; Iceland to Huntington,
Miss., 22 miles; Washington Co. branoh, 34 m iles-total owned. 511
110,053
113,090
116,242
117,095 miles. Leased—
Clinton to Port Hudson, La., 22 miles; total operated,
11,000
49,299
44.815 533 miles. This road was built in the interest of the Huntington system
6,182
8,377
7,542
10,297 of roads, and forms the connecting link in that system across the
Continent from Norfolk to San Franoisoo. The present company was
Total disbursements. *4,575,868 14,716,145 14,637,806 114,643,727 organized Sept. 5,1884. The road was opened for through business Oot.
Balanoe, surplus. . . .
722,699
1,116,337
1,356,890
692,495 13,1884. The inoome bonds are a first mortgage on 750,000 acres of
in.ru! in the Yazoo Delta. The first mortgage bonds are Issued at $30,000
per mile on the main line and $20,000 per mile on the branch lines.
* $28,400 to be refunded, included in surplus,
Mr. R. T. Wilson, Pres., N. Y. Gross earnings from Jan. 1 to Jan. 31,
t $32,338 to be refunded, included in surplus,
1887. were $218,062, against $159,748 in 1885-6; net, $84,866, against
i $42,012 to be refunded, included in surplus.
$36,276. Gross earnings for year 1886, $1,803,785; net, $551.222.
U$164,692 to be refunded, included In surplus.
Gross in 1885, $1,390,717; net, $360.711. (V. 42, p. 60, 339; V. 43, p.
G EN ERAL BALANCE A T CLOSE O F EACH FISC A L T E A B .
73,162, 334, 368, 516. 547, 671; V. 44, p. 60,185, 308.)
L y k e n s V a lle y .—Owns from Millersburg, Pa., to Wllliamstown,
1882-83.
1883-84.
1884-85.
1885-86
Pa., 20 miles; branoh, 1 mile; total operated, 21 miles. It is a
Assets
$
$
$
$
Road,equipment, Ac. 67,385,426 67,776,064 67,930,874 68,433.991 coal road leased and operated by the Northern Central Railroad since
Timber A quar. lands
715,773
688,024
689,941
598,746 July, 1880, and previously by the Summit Branoh RR. The lease is tor
Stocks owned.......... 19,565,852 t6,904,853 2.005,590 1,298,347 999 years from March 1,1866, and the rental is $62,500 per annum.
Bonds owned..........
1.940,623
4,050,673 4,249,861 4,435,098
M a h o n in g C o a l » a l l r o a d . —Andover to Youngstown, O., 38
StksAbds.heldintr’t
9,527,878 9,527,878 9,527,878 9,527,878 miles, and branches for ore and coal, 5 miles; total, 43 m. On J u ly l,
Bills A acc’ts. receiv.
2,011,330 1,922,903 1,771,487 1,915,654 1884, the road was leased in perpetutty to the Lake Shore A M. S. The
Materials, fuel, A c..
833,112
762,273
726,624
926,262 L. 8. A M. So. guarantees the principal and interest of the 1st mortgage
Cashonhand............
242,929
297,316
404,714
303,976 bonds, and guarantees 5 per cent per annum on the pref. stook.
So. A No..Ala. R R ...
1,454,904 1,565,968 1,733,805 2,071,723
M a in e C e n tr a l.—Mileage as follows: Main line, Portland to Ban­
Nash. A Dec. R R ....
573,044
599,478
603,250
618,148 gor, Me., via Augusta, 136-6 miles; branches, Cumberland Junction to
921,690
1,172,928 1,567,793
635,978 Skowhegan, 90-7 miles; Bath to Farmington, 71-2 miles; Crowley’s
Other roads..............
C. C. Baldwin aco’tt.......................
1,005,929
850,809
850,808 Junction to Lewiston, 4-7 miles; total owned, 803- 2 miles. Leased—
Sinking fund.............
50,000
50,000
50,000
.........
Burnham Junction to Belfast, 33-1 miles; Newport Junction to Dexter,
Profit and loss.......................................................
2,479,344 2,068,666 14 miles; Brewer Junction to Buoksport, 18-1 miles; Bangor to Vanoeboro, 114-1 miles; Penobscot Switch to Mt. Desert Ferry, 41-7 miles ;
Total assets........ 94,222,561 96,324,187 94,591,970 93,705,275 total leased, 221 miles. Total operated, 527-2 miles.
Liabilities—
$
$
$
$
This was a consolidation in 1862 of the Androscoggin A Kennebeo
Stock......................... 30,000.000 30,000,00030,000,000 30,000,000
Railroad and the Penobscot A Kennebec. In August, 1873, the Port­
Bonded debt*........... 57.903,230 57,530,712 61,958,314 61,355,254 land A Kennebec, Somerset A Kennebec and Leeds A Farmington rail­
Louisville bonds....
850.000
850,000
850,000
201,000 roads were also consolidated with the Maine Central.
Debentures...............
567,400
529,800
....................
There are also $58,000 5 per cent debenture bonds due 1894 and
Bills payable...........
626,558
3,599,266
189.279
41,229 $20,000 Shore Line 6 per cents due 1923. The annual report was pub­
Interest....................
445,359
475,759
499,435
501,528 lished in V. 43, p. 773, for the fiscal year ending Sept. 30.
Miscellaneous..........
36,094
34,933
34,774
34,327
FISC A L RESULTS.
June pay-rolls, Ao..
1,130,936 1,236,152
1,060,168 1,571,937
1882-83.
1883-84.
1884-85.
1885-86.
Profit and loss..........
2,762,984
2,067,565
.................... Total gross earnings $2,835,494 $2,816,373 $2,839,779 $3,001,076
Expenses and taxes. 1,839,707 1,750,710 1,730,902 1,820,740
Total liabilities.. 94,222,561 96,324,187 94,591,970 93,705,275
$995,787 $1,065,663 $1,108,877 $1,180,336
Neteamings.......
‘ The bonds deposited in the $10,000,000 trust have been deducted
INCOME ACCOUNT
here.
t Includes $5,000,000 L. A N. stock unissued.
Receipts—
1882-83.
1883-84.
1884-85.
1885-86.
t An open account, the company claiming that Mr. Baldwin is Indebted Net earnings...........
$995,787 $1,065,663 $1,108,877 $1,180,836
to it in this sum,
Other receipts..........
29,121
10,421
7,828
7/400
—(V. 42, p. 60, 155,187, 215, 304, 430, 631, 663, 694; V. 43, p. 23, 73,
Total inoom e.... $1,024,908 $1,076,084 $1,116,705 $1,187,736
2 16, 256, 274, 431, 4 8 6 , 547, 671; V. 44, p. 59,185, 308.
TytffhU* &Y r l/ ~ ~
J8 T t€Y tS~
L o u is v ille N e w A lb a n y Sc C h ic a g o .—Operates from New Albany» Rentals paid...........
$182,958
$189,000
$189,000 $189,000
“ «• (opposite Louisville, Ky.), to Michigan City, Ind., 289 miles; How­ Interest on bonds...
644,146
661,395
701,767
707,130
land Junction to Hammond, Ind., 1 60miles; Bedford, Ind., to Switz Dividends.................
197,522
215,532
215,541
215,578
City,43 miles; total owned, 491 miles; leased—Hammond to Chicago,
20 miles; Howland’s Junction to Indianapolis, 4 miles; New Albany to
Total disburse’s $1,024,626 $1,065,927 $1,106,308 $1,111,708
Louisville, 5 miles; total leased, 29 miles; total operated, 520 miles. A Balance...................
$282
$10,157
$10,397
$76,028
lease for 999 years with Chicago A Western Indiana at $127,000 per —(V. 42,pl 365,5 i9 ,694, 783; V. 43, p. 102, 217, 334, 458, 618, 77 3 .)
year gives entrance to Chicago. In Feb., 1886, purchased the Bedford
M a n c h e s te r Sc L a w r e n c e .—Owns from Manchester, N. H., to
* Dloomfleld RR., 43 miles, to stone quarries.
The Louisville New Albany A Chicago was opened in 1852 and sold Methuen (State Line), 22A* miles; leased, Methuen Branoh o f the
m foreclosure Dec. 27, 1872, and reorganized without any bonded debt, Boston A Maine Railroad, 3% miles; total operated, 26 miles. Road in
in Aug., 1881, consolidated with Chicago A Ind. Air Line, and stock operation since 1849. Formerly operated with the Concord RR.
increased to $5,000,000, giving 15 per cent increase to stockholders of as one line, on a division of joint earnings. Methnen branoh is
r6corír
31. In 1880 the company sold the $3,000,000 of first mort­ leased at a rental of $11,000 per annum. Company lays claim to a twtv
fifths interest in the Manchester A North Weare RR., which is operated
gage bonds to the stockholders at 20 cents on the dollar.
^ ^ “ ««Udated bonds of 1886 were made for the authorized amount by Concord RR. Ten per cent dividends are paid. The fiscal year ends
or $10,000,000, of which $5,300,000 was reserved for the prior first March 31. Gross earnings in 1885-86, $1.7,302-, net, $100,ot*9. In
Mortgages, $3,000,000 used to exchange for 2d mortgage bonds of 1884-5, gross, $174.578 ; net, $100,809
i
,
m°rtgago bonds of 1884 outstanding, and the balanoe
M a n h a tt a n E le v a t e d .—Hoad operated, 32-39 miles. This was a
*i,/oo,000 used for building new road and for improvements. (Sec corporation formed (Nov. 24,1875) to lease and operate the two elevated
V. 42, p. 365.)
railroads in New York City. Its capital stock was $13,000,000, and
«ü ?r
ending Jan. 31 gross earnings were $139,416 in 1887, it was to pay the interest on the bonds of the two elevated roads
agmnst $113,820 in 1886; net, $15,555, against $8,627 in 1886.
and certain dividends. The original lease of May 20,1879, guaranteed
as follows y 1 ^ d J jje o 3 1 Earnings, exnenses and charges hav “¡been 10 per cent per annum on the stocks, but this lease was amended in
"
October, 1881, by agreements among the three companies, which wen)
Total income...........
Disbursements—
Taxes........................
Rentals.....................
Interest on debt.......
Dlvld’son L. A N., N.
A D. and M. A M ...
Georgia RR. deficit..
Miscellaneous..........




5,270,091

5,800,144

5,952.683

339.409
67,000
4,053,224

309,450
67,000
4,207,223

379,845
58,333
4,026,543

5,171,530

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\\AND CONNECTIONS.

[V o l . xliy .

LOUISYILLE.
HEW QBLEAHS
ìùstinh
& TEXAS B. B.

v^ypensacola Jc.

M a r c h , 1887.]
Subscribers w ill confer a

.RAILROAD

STOCKS

AND

BONDS.

61

great favor by giving Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, oi
Ronds—Princi­
For explanation of column headings, Ac., see notes of
pal,When due.
of
Par I Amount
When
on first page of tables.
Road. Bonds Value. iOutstanding Rate per Payable Where Payable, and by Stocks—Last
Cent
Whom.
Dividend.
Marquette H. A 0.—( Cont’d) —Bonds for ext., &e...
1883 $ 1,000 $1,213,000
6
J. & D Boston, N. Eng. Tr. Co. i June 1, 1923
M. H. & 0 . 1st mortg. on Mar. & West................
1885
1,000
1.400.000
6
A. * O.
Memphis A Charleston—Stock............................. ....... 328
do
do
r April 1, 1925
25
5,312,725
1st & 2d. mort, extension bonds, Ala. & Miss. Div. 181 1854
2.155.000
*7*
& J.
2d mortgage, extended................................... ........
New York, Agency,
J a n .1, 1915
1867
105.000
7
& J.
do
do
Consol, mort., gold ( 1st Hen on 93 ig m. in Tenn.)
292 1877
1915
1,000
1.400.000
7 g.
* J.
Consol, mortgage, gold............................................. 292 1877
do
do
Jan. 1, 19151,000
864.000
7g.
* J.
General mortg., gold.
do
do
Jan. 1, 1915
292 1884
1,000
1,000,000
6 g.
* J.
do
do
Memphis A Little Rk.—1st preference mortgage...
Jan. 1, 1924
133 1877 1.00060
250.000
8
M. & N.l
General mort., land grant, (s. f. $10,000).............
May, 1883-84
133 1877 250 *o
2.600.000
8
J. * J
Mexican Central (M exico.) — mort., reg., gold .. 1,340 1881
1st
July, 1907
1,000 37,339,885
J. * J.
Boston, Office,
Income bonds, cony., not cumulative, reg........ II
July 1, 1911
1,000
8,128,000
i g- July 1
do
Coupon notes for interest funded..........................
July 1, 1911
1884 100, &o.
3,825,570
10
T
do
Debentures tsecured by collateral) (V. 39. pi 733)
July 1, 1889
1885
1,000
10,000,000
J. * D
New York.
Mexican National—IstM., new, gold ($9,000 p. m)
Deo. 1,1927
1887
1,000 24.330.000
If: Various
1st M., old, gold....................... . . . . . . . . . . . . . . . . . . . .
1911 * 1912
81-’82 1,000 24.330.000
Various Last paid, Oct., 1883. 1911 & 1912
2d mort. debentures (inoome)...........................HI
1884 1.00060 13.437.000
I * April
Michigan Central—Stook........................................
Jan. 1,1974
1,468
100 18,738,204
2
P. & A. Grand Central Depot.
Consolidated mortgage ($2,000,000 are 5s).......II 270 1872
1,000 10,000,000
7*5
M. & N. N. Y., Union Trust Co. Feb. 15,1887
M. C. Miohigan Air Lane mortgage.. . . . . . .....I" 103 1870
May 1,1902
1,000
1.900.000
8
J. * J.
do
do
Michigan Air Line 1st mort., assumed by M. C. III
Jan. 1,1890
10 1870
1.000
200.000
8
M. & N.
do
do
M. C. bonds, mort. on Grand River Valley RR. ..
Nov., 1890/90
84 1879
1,000
1.500.000
6
M. & S.
do
do
Kal. & So. Hav., 1st and 2d morts., guar.......
Sept., 1909
39 ’69-70 1,000
710.000
8
M. & N.
do
do
Grand River Valley, stock, guar...................... .
Nov. 1, *89-90
84
100
491,200
2h¡ J. & J.
do
do
Detroit & Bay City 1st en’d...........................
Jan., 1887
145 1872-3
424.000
8
M. & N.
do
do
M. C. mort. on Detroit & Bay City Railroad...".'!." 145 1881
May 1,1902-3
l',000
3.576.000
5
M. & 8.
do
do
Jackson, Lansing & Saginaw, consol, mort.......... 236 1871
Mar. 1, 1931
1.000
1.943.000
8
M. * S.
do
do
Jaokson Lansing & Saginaw consol, mort............ 298 1880
Sept. 1, 1891
1,000
1.100.000
6
M. & S.
do
do
Michigan A Ohio—1st mortgage, gold....................
Sept. 1, 1891
154 1883
1,000
2,630,000
6 g. M. & N.
None overpaid.
Middletown TTnionville A Water Gap—1st mortg. ext!
Nov. 1, 1923
13 1866
150.000
M. A N.
N.
do
do
2d mort. guar................
1911
1871
250.000
S * J. * D. N. Y.,do Y. Susq. & W.
do
Milw. Lake Shore A West—Common stock.. . . . . . .
1890
535
100
2, 000,000
Preferred stock.................................
535
100
5,000,000
‘ 3»s
Jan. 1, 1887
supplemented by an agreement of Nov. 14,1881, for the surrender of
t
the stocks of the other companies, and the issue of new stocks by the i ( 8 l T Tnl thi 9 company was purchased by parties in the interest
! u ^ on Mountain. Afterward default was made on
Manhattan Company, but this was never accepted by the Metropolitan
and bondholders were offered a 6 per cent bond In place
stockholders, and, after litigation, it was decided against the Manhattan nf t h ! T
1
a
compromise agreement was made and afterward of the 8 per cents, which was declined. In April, 1884, a receiver was
ratified by the stockholders of the three companies by whioh all liabili- appointed, but in August, 1884, receiver discharged and the property
ties were assumed, and new stock was issued by the Manhattan Com- ^ a n u a r ^ a ^ t o iv 1
° f the general mortgage. Trustees^a^ the
pany to the holders of stocks in the other companies, v iz: For Manhat- i s n o X ly; i 885, ooupous on general mortgage, and Jan., 1886.
About $250,000, in possession of the Court, was held pending the litipo^tanP V p e rie n t6W8tOCk; for New York> 120 l>er cent; for Metro- gation between the mort. trustees and the Company (Gould^nterestV
n
There are large claims pending against the elevated roads for damage t o e s in d ^ m to 7’ ihi U'
8oPrew Court deoided in favor of the trusm6
to property on their lines, and many of these are before the oourts. The t??? qq^ hold they had a right to bo subrogated to the lieu of the State.
■
Court of Appeals deoision was against the Company in the Lahr and In 1884 gross earns were $721,890; net, $146,670. (V. 44, p. 149,185 )
Wagner sut1 re:erred to in V. 44, p. 1/3.
s
u
Ce,; lt ,:a l (IW e x Ic o L -in Nov., 1886, the mileage was—
In 1886 the debentures of the New York Elevated were issued for
Mexico City north, to El Paso del Norte 1,225 mU.es,
advanoes made by the Manhattan Co. for new equipment, new construe- 103 miles on Tampico Division, 11 miles of Guanaiuato Branch and 1ft
LlO l8iX
n.
&0.
milp« tP ato® Paolflo Division, had also been built, and a short branch 7
The stockholders of the Manhattan Elevated RR. had the nrlvUeve miles to stone quarry, making a total of 1.361 mUes.
J u iy ,^ 86, of taking $6°0,MO stock and $600,000 bonds of the Subur­ „ikr® comPan^.waa incorporated Feb. 25,1880, under the general law
ban Railroad Co. on certain terms. See V. 43, p. 49.
and
transier the company holds the charter from
laaa
t
P ec,„ 31 gross earnings were $2,028,553 in
iT2«r,GoVR
riKia
®nt',^iIani?d De0- 5» 1874, for a road from Mexico
1886, against $1,818,199 in 1885; net, $902,268, against $895 390I*®011» aPd by modification moluding lines to Paso del Norte
8 ri?IU
1
-i^y^ Iliterest’ rentals
taxes. $110,623, against $435,946. ’ Guadalajara and Laredo. The company also has other rights granted
The reports for year ending Sept. 30 have shown the following income:
State of Chihuahua. The company has a s u t t y from
m m S ™ <
^?«®riimeni' of $15>
200 per mue on most of tlm lines,
_
.
1883-4.
1884-5.
1885-6.
£?onb,\
e
construction
redeemed with
$7,000,567
Gross earnings............................ $6,726,359
$7,426,216 ?L a Rdati ei certificates ofthe maritime to be frontier custom 8 percent
Prodnoedat
and
houses of
Operating expenses.................... 3,881,949
3.967,983
4,234.601
«epuhlic
In June, 1885, the Mexican Government stopped payNet earnings.. ...............$2,841,410
$3,032,584
$3,191,615
ubsidles.hut resumed July, 1886, on a basis of % of 1 per cent?to
Interest on bonds, and rentals.. 1,381,713
1,459.043
1,531,984 be increased to 1 p. ct. Jan. 1,1887, and after that 1 per cent evervslx
Balanoe.............................. $1,459,697
$1.573,511
$1,659,631 months tillm 1890the full 8 percent Is reached. The incom^s are
Deduct dividends........................ 1,170,000
1,560,000
1,560,000 ized) $3§!ie o ! m . St° Ck at par< The 8tock 18 ($32,000 p. mile author?
7
......................
$189,697
„$13,541
* „ ,„* *
$93,631 „ Ti»-June», 1884, It
due July 1. and to
„ii . w,ing },8 a statement of the number of passengers oarried on ask bondholders to was decided to pass the1Interestto July LJ.885 infund three coupons July , 1884,
completion^ of theTcfads ?Q New York- aud thQ S™88 earnings, since the clusive, amounting to $3,810,375, for whioh 10 per ceut coupon note*
Passengers. Earnings.
Passengers. Earnings. maturing in five years were offered, secured by deposit of the coupons
1878-79.. 46,045,181 $3,526,825 188283.. 92,124,943
$6.386,506 cinalband^2i n? f t o i )p MeXt G®v,t subsidy certificates equal to the^prin^
1879 80.. 60,831,757
4,612,976 188384.. 96,702,620
6,726.359
s f e ° f f i ci r ? 8n t at
s
K
B
l S
188081.. 75,535,778
5,311,076 1884- 85 103,354,729
7,000,566
188182.. 86,361,029
5,973,633 188586 115,109,591
7,426,216
-(V . 42. p. 243, 272, 604, 783; V.43, p. 49, 459; V. 44, p. 173, 244.)
bo^d?6 \83,5’
?«'
Pr°P®sed to reduce the interest on 1st mortgage
r
& N o r t h e r n .—Road from Marietta, O., to „ouds to 4 rer cent, with an agreement to pay the remaining 3
Branch to Stuart, 4 m., to be built. Formerly the Marietta per cent in any year when earned, but not to be cumulative and
atrlZ a 1 tlie bondholders assented to this arrangement and exchanged
etta? o ! p^esid?ntname cbauged (n0 foreclosure). W. P. Cutler, Mari
their 7 per cent coupons for a sheet of 4 per cents. In July, ’86, Mid.
Jan., 87, all coupons falling due were paid tg in oash and ^ m assented
t ^ ? a ilie nfa ^ ( ^ o r t l l ® f o r g la T i ’y 8 uarrow-gaugeroad, completed in 1st mortg. bds. In treasury of Go. From April 1, 1887, cash payments
ml?
i 88.6» extends from Marietta, Ga., to Murphy, N. C., 120 were resumed on the bonds as coupons fell aue.
p y 61118
m « r nnnb® ^
P S P ' A onds are at $7,000 per m le and the seoond Q ir.oss earnings Jan. 1 to Jan. 31, 1887, were $421,820, against $316 4
- ( ! ? 4 § ° p . ?4°7, 6 7 I ’¿07 ’)° a' R" M‘ Pal8lfey’ Presi(ieut* Boston.
87T?,1 «aft86’ nefc’ $213'890>»gainst $1091345 in^Mexican currenoy).)
i1
In 1886 gross earnings were $3,857,703; net, $1,401,625.
*
M ch*1"
i
'
* O n t o n a g o n .—Owns from Marquette
The annual report for 1885 was In V. 42, p. 4 6 1. The income account
mihw’
,95w e? branches, 6o miles; total operated, 160
$l,308U
395dy’ 8b° Wed 61-088 earninSS, $3,559,561; net in U. S.
Aug^22H1^72 of
° f a£ < 8(ii?00 a2res. This was a consolidation ^ n e y !V
J?t*
®he Marq. & Ont. R’y and the Houghton & Ontonagon
The net subsidy collections for the year 1885. In United state« «.,»
5 ^ I ^ ay’ and in l883 consolidated with Houghton & L’Anse Railroad
imrnha^Hif^iS16 extension from L’Anse to Houghton. In March 1885 c u r r e n ^ ^ l t g ’3 93’ t0tal 8ubsidy collected to Deo. 31, 1885, In U. S.
i ae Marquette & West, road, 27 miles, and issued therefor th«
c S n ^ ^ x ° o f bthnd+ and $» ° ° ^ • » • a a r i f f a s a s
8
1 eli of the transportation of iron ore. In Oct., 1886 a cong
Diuuti? South5ShT™ | uIe
.ha8f,d b y » syndicate in the interest of the
fw l w i a L 8.110^
Atlantic RR. See V. 43. p. 547. The report
showed a surrdusPof
V‘ 42 ’ P' 6?°» 811(1 the ln00Qie account
dividends n S
SSJS4’ ? ? 8 over lllter® Payments and 3 per cent Acamb^n
8t
a?“ 11 88; City ot Mexico to i S c u a r o ,“ ^ ^ 8 miles^
?®
68
U (V. 4 2 ^ 519! 6 2 9 ; y“
S
ln 1885 $834,143; net, $369,- Acambaro to San Miguel, 76 miles; El Salto line, 42 miles• Maoranliin
i ? A rmeria> 29 mfies; branches, 34 miles; total Southern Div. 454 miles*
^ C h a r le s to n .—(See Map o f Hast Tennessee Vir- total road finished, 933 miles, leaving a gap of 370 miles to becomnleteS
Eranohea^itr^ja1
1
MemPhis to Stevenson, Ala., 272 miles • to connect the Northern and Southern divisions. The company received
r w ? Somerville 14 miles, to Florence 6 mile4; leased, Stevln a subsidy of $11,270 per mile of road, secured by 6 per cent of the
Government receipts from customs, to July, 1885, su6 idv navment?
leased
pojLd J m S l i f 7 t o 7 h « 8i l w a^0perated’ ?,30 mUes-fe This roadRail- were suspended, but resumed on a graded soale In ’86. See vT43 ^ l O i ?
.i*16
Tennessee Virginia < Georgia was
tollP?I1 011 and after April 1, 1884, were passed. In Oct., 1886. Eng.s
*7 2 m ® 2 & years ft-0“ Jul7 1, 1877. Of t ie coMoUdated mort- iia<
f o i ’¿si’iTMd0?« ^r?,?DroUred
6 old Tennessee State lien for $1,736,- Ji?^;and -^aiarican parties came to an agreement, and •a modified nlmt
of reorganization was made, by which foreclosure should take nlace^nd
S e n r iM ^ a lS iS lS ’ a2 d ,t^ s 8i and higher in value,
estedinthe fast1 i f ™ look °T e. «took was obtained by parties inter- a new mortgage at $9,000 per mile ($12,5€0,000)beplact d o n toewhnto
f lh
Tm k
a8t T®
nnessee Virginia & Georgia RR., and in SeDt H??d’ m®
8t teis to be used to oomplete the gap of 370 miles The
Traft Co!forth^EU y & G d X ® &maJorlty was Put 1 1the Central’ toe MTxd
^h
1
ioa^ iafioana?C , ^
^
^
» o r se c^ tie s aud stock- wSh
w
a r^ $?2 165 olio r «UR^ s ^ Company proroses to issue at present
18^6r-7! ag^un^0
«
i
q1- h gross earnings were $1,005,878 in S M r H ’S
/
l 1 ? < ± d £ T A W S ? « " b o n d s ; $12,165,000
2
For the yeM endtoy6 Ton a «n
$337,023>against $281,910.
net, $268,263 and m 18R5 ftr # i
’^ 08S earamgs were S i,384,906;
1Q K
Q
. ” * XO° *1P» ▼ O dUVIS.)
. X
-(V . 42, n 60 125
l i ’n 2M 29- f^°88 and $386,315 net.
gross
? et’ $368,890. For 1886,
664; v ' 13, p- 190' fK0^8* ofti » i i . J
$262,516. W. J. Palmer President, N.Y. (V.
from Little Root, Ark., to Mem- 275?369?)*’ 631 V- 43>P-88» 102* 2^5. 274, 309, 459,598 ; V. 44, p.
sold in foreclosure ThAtmw^^a® made Nov., 1872, and the property
C o n ir a l.—Line o f R oad.—Main line—Kensington to
•old and reorgSdzedh nri7 28m?877 a^ ? f 6Í^ul£ef , ^ d the road was Detroit, 270 miles; and Windsor to Suspension Bridge (Can So ) 226.
2
a
A frlin ^ R R , 115, Jol. M No. Ind., 45 ; GrandoRiver Valley, 84 ; Jack*
'
Bra^hes w n ^ ^ d teasêd—Mieb!!
Air u n e RR
&




INVESTORS’

62

SUPPLEMENT.

[V o l . XL1V.

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Table».
Bonds—P rindINTEREST OR DIVIDENDS.
DESCRIPTION.
pal.W'hen Due.
MUes Date Size, or
Amount
When Where Payable, and by Stocks- Last
Par Outstanding
of
For explanation of oolumn headings, &c., see notes oi
Whom.
Dividend.
Cent. Payable
Bonds Value.
Road.
on first page of tables.
Milw. Lake Shore A West.—{Continued)—
Consol, mort., gold...................................
Income bonds (not cumulative!.............
Equipment bonds
Michigan Div., 1st m ortg, gold (for $3,000,000)..
Ilebiga
Ashland Division, 1st mortgage, gold...................
St. Paul Eastern Grand Trunk, 1st, gold, int.guar.
Funding notes...........................................................
Equip uent................................................ - ...........-•
Convert, debentures for $2,000.000 gold.............
Otitonagon, 1st M.. gold ($15,000 a mile)..............
Milwaukee A Lake Winnebago—1st mortgage, gold.
Income bonds, gold (cumulative)...........................
Debentures, g old .....................................................
Milwaukee A Northern—1st mortgage.......................
Bonds for $8,000,000 ($2,155.000 are reserved)..
Mine H ill A Schuylkill Haven—Stock........................
Mineral Range—
.............................................. .
1st mort (for $200,000) coup..................................
1 st mort., gold, on branch and extension...........
Ho ighton extension, g o ld .......................................
Minneapolis A Pacific—1st mortg., $15,000 p. mile
Minneapolis A St. L.—1st M., Min. to Merriam June.
1st mortgage, Merriam Junction to State Line ..
1st mortg., Minneapolis to White B. Lake, guar..
1st mortgage, gold, coup. (Al. Lea to Fort Dodge)
Improv. and equip, m., 1st series, coup............
Mortgage on Southwestern extension..............
2d. bos., inc., 5 & 10 yrs. (White Bear to Ft. Dodge)
1st mortgage, gold. Pacific Extension.............
Wis. Minn. A Pacino.—1st mortg......................

$4,350,000
600,000
180,000
1,281,000
85
1,000,000
40
923,000
56
200,000
500,000
650,000
225,000
1,000
1,430,000
65
1,000
520,000
200,000
2,155,000
1,000
126
1,000
975,000
117
50
4,081,900
137
100
128,000
160,900
12*8 1873 100 &o.
100,000
1,000
4] 1885
e
100,000
1886
1,000
3,270,000
218 1886
1,000
455,000
27 1877
950,000
»3 1877 500 &e.
1,000
280,000
15 1877
1.000
1,015,000
102 1879
1,000
2,000,000
360 1882
1,000
636,000
53 1880
1,000
500.000
172 1880
1.000
1,382,000
92 1881
1,000
3,080,000
205 1884

346

1881
1881
1882
1884
1885
1883
1885
1885
1887
1886
1882
1882
1884
1880
1884

$1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

6 g. M. A N. N.Y., N. Bk. of Com’rce May 1, 1921
May 1, 1911
do
do
6
M. A N.
1892
fe
J. A J. N. Y.. 8. S. Sands < Co.
8
J. A J. N. Y. Bk, of Commerce July 1, 1924
6 g.
6 g- M. & S. N. Y. Bk. of Commerce Mar. 1, 1925
J. < J. N. Y., S. S. Sands & Co. Jan., 1, 1913
fe
1886-7-8
do
do
I 8' J. & D.
1890-95
do
do
J. & J.
6
Feb. 1, 1907
do
do
5 g- F. A A.
1896
do
do
A. A O.
6
6 g. J. & J. N.Y.,Farm. L. &Tr.Co. July 1, 1912
July 1, 1912
J. A J.
5 gApril 1, 1904
6 g- A. & O. N.Y.,Merch.Exch.N.Bk June 1, 1910
J. & D.
-6
June 1, 1913
New York City.
J. A D.
6
31 « J. & J. Phila.M.H. &S. H. R.Co. Jan. 15, 1887
2i«
Q.—J. N. Y., H. S. Ives & Co, Jan. 5, 1887
June, 1888
do
do
J. A D.
8
Oct. 1, 1915
do
do
A. & O.
5
Jan. 1, 1916
H. S. Ives A Co.
J. & J.
5
Jan. 1, 1936
New York Agency.
J. &|I.
5
7 g. J. A J. N.Y., Bank of Comm’ce. Jan. 1, 1907
June 1, 1927
do
do
7 g. J. & D.
7 g. M. A N. N. Y., Cent. Nat. Bank. Jan. 1, 1907
J. A D. N.Y.. Bank of Comm’ce. June 1, 1909
July 1, 1922
do
do
J. A J.
Deo. 1, 1910
do
do
J A D.
1890
do
do
J. A J.
April 1, 1921
do
do
A. A O.
Oot. 1, 1934
do
do
A. A O.

____________
Lan.A Sag., 295; Kal. A So. Hav., 4 0 : Det. A Bay City, 152; Sag. Bay
A No. W., 63; Tol. Can. So. A Det., 56; Can. So. Br. Co., 4; Mich. Mid.
A Can., 15; Canada Bo. branches, 99 : Sarnia Chat. & Erie, 7; Erie &
Niagara, 31; total branches, 1,004 miles; total operated, 1,501 miles.
There are 121 miles of seoond track and 536 miles of side tracks.
O r g a n iz a t io n , L b a s k s , & o .—The Michigan Central was chartered in
1846 and purchased of the State of Michigan 144 miles of com­
pleted road and completed the whole line, Detroit to Kensington, in
1852. The Detroit & Bay City road was foreclosed Feb. 12,1881, and
purchased fer the Michigan Central, which leased it and put a mortgage
on the road. The other lines described above as leased are all held by
the Michigan Central nominally under leases at fixed rentals, but are
practically owned. The land grant came from the Jackson Lansing &
Saginaw company as stated below. In Nov., 1882, a close contract was
anade with Canada Southern forjyorking its road by the Michigan Cen­
tral and the division of net profits over all charges—one-third to Canada
Southern and two-thirds to Miohigan Central; but the latter company is
entitled to an increase on this proportion as it diminishes its interest
«barge by payment of bonds or otherwise.
St o c k s a n d B o n d s —The Miohigan Central stock has remained at the
sam e amount since 1873. Prior to 1873 it was a regular 10 per oent
stock. In 18 72-73 paid 5 per cent and 4 in scrip, but afterward paid
no dividend till 1878, ana since then irregular amounts. Since 1870
dividends have been: In 1870-71, 10 per cent; 1871-72,10: 1872-73,
S and 4 in scrip; in 1878, 2; in 1879, 3**; in 1880, 8; in 1881, 61 ; in
«
1882, none paid; in 1883,5; in 1884. 3; in 1885 and 1886, nil.
The range in prices of the stock has been as follows: In 1871,114®
126; in 1872, 113®120; in 1873, 65®111; in 1874, 68*s®95*«; in
1876, 53® 82 * ; in 1876, 34S»®65»«; in 1877, 351)8®7414, in 1878,
4
S8*2®7 5 ; in 1879, 73%®98; In 1880, 75® 130*8; in 1881, 84%® 120;
in 1882, 77® 105; in 1883, 77® 100*8; in 1884, 51%®94*«; in 1885,
46V ® 79%; in 1886, 6l*«®98%; in 1887 to March 19, 86®93*4The Jackson Lansing A Saginaw debt Is assumed by Michigan Central,
which also pays $70,000 per year on the stock of $2,000,000; the pro­
ceeds of J. L. A S. lands go to pay bonds, and in 1885 sales amounted
to 5,936 acres for $97,860 (including timber), leaving 311,191 acres
unsold, and land notes on hand, $308,865.
o p e r a t io n s , F inances , &c.—The Michigan Central paid 10 per cent
dividends regularly till 1873, but becoming liable afterward for heavy
obligations on leased lines, the company suspended dividends. The
rood on through business is muoh affected by the competition between
Chicago and points eastward, and by the rates on through freights. It
is operated under a dose contract with Canada Southern and the earn­
ings of both roads are included in the statistics below.
For the vear 1886 the official statement (Dec. partly estimated) was:
1886.
1885.
Gross earn in gs..........................
$12,250,000
$10,707,000
Operating expenses and taxes.............
8,350,000
8,015,000
Net earnings............................................. $3,900,000
$2,692,000
Interest and rentals........... .........................
2,578,000
2,666,000
Surplus earnings................................... . $1.322,000
$26,0 0
Proportion to Canada South. Co.......... (2’73 p. c.)410,000 (0*57p.o.) 8,600
Do
to Michigan Central Co.............
$«12,000
$17,400
Expended for land, 1886................................
75,000
$837,000
Leaves...................................................
374,764
Dividend two per oent...............................
Balanoe.......................................................
$4b2,23tf
Report for 1885 in V. 42, p. 573, had the following for beth roads:
1884.
1833.
1885.
1882.
Earnings—
$
$
$
$
3,162,342
3,464,560
4,007,548
3,146,309
Passenger................
6,906,207
5,426,455
9,472,366 7,620,887
Freight.....................
638,845
529,853
573,630
340,317
Mail, express. <feo...
Total gross earn’gs 8,913,081 14,009,767 11,6^9,077 10,707,394
8,959,132
8,014,603
6,671,726 9,741,638
Tot. oper. expens.
Net earnings....

2,241,355

4.268.129

INCOME ACCOUNT.

2.699.945

2.692.791

1834.
1885.
1883.
$
$
$
Receipts —
2.699.945
2.692.791
4.268.129
Net earnings...........
67,701
79,858
72,216
Int. and dividends .
2,779,803
2,76\007
4,335,830
Total in com e......
Disbursements—
$
$
$
184,310
184,310
184,310
Rentals p a id ...,___
2,454,292
2,482.443
2,249,106
Interest on d eb t. . . .
8,679
20,448
611,571
Can. So. (is of net)..
2,659,050 2,675,432
3,044,987
1,801,371
Total..................
89,575
120,753
1,290,843
367,935
Surplus for div’ ds...
1,124,292
374,764
(2)
(6)
Rate of dividends ..
89,575
Balance................... sur.193,171 sur.166,551 sur.120,753
— 42. p. 4, 22, 5 7 3 , 753; V. 43, p. 6,23; V. 44, p. 6. 22.) !
(V.
M ich igan Sc O h io.—Road completed Nov., 1883, from Allegan
Mich., to Dundee, Mich., 156 miles, using the tracks of the Toledo Ann
Arbor A Grand Trunk. 22 miles, to Toledo, O., and Wheeling & Lake
Erie tracks to Manhattan Junction, 2 miles. In Nov., 1884, the ip.
terest on the bonds was passed and a receiver appointed. Foreclosure




1882.
$
2,241,855
127,951
2,369,306
$
184,810
1,617,061

sale was made Nov. 4, 1886, and the road purchased by Messrs. Olcott,
Thomas and others of N. Y.; the new company organized is to extend
the road about 121 miles; stock is to be $40,000 per mile of road actually
owned, and 5 per cent, bonds are to be issued at $8,000 per mile. To
be consolidated with the Cinn. Jack. & Mackinaw. Gross earnings in
1885, $19?,034; net, $22,389; payments, $17,953. (V. 43, p. 190, 217,
M id d leto w n U n lon v llle Sc W a te r Gap.—Owns from Mid­
dletown, N. Y., to Unionville, N. J. State Line, 13 miles. Is controlled
by N. Y. Bus. A West, by ownership of stock. In 1886 extended first
mortgage bonds for 25 years at 5 per cent. Gross earnings in 1883-84,
$40,289; net, $15,340. Gross in 1884-85, $38,489; net, $12,791; deficit
under interest, &c., $14,303. Stock, $149,850. (V. 43. p. 162.)
M ilw au k ee Lake Shore Sc W e ste rn .—From Milwaukee, Wis.,
to Ashland, Wis., 391 miles, of which 4 miles are leased; branches—
Hortonville to Oshkosh, 23 miles; Manitowoc to Two Rivers, 6 miles ;
Eland June, to Wausau, 23 miles; Antigo to Malcolm, 11 miles; Monico
to Rhinelander, 16 miles: Clintonville to Oconto, 56 miles; branch to
mines, &c.,36 miles; total operated. 562 miles. This company was organ­
ized in 1876 as successor to the former company foreclosed in 1875.
Preferred stock has a preference to the extent of 7 per cent from net
earnings. The debentures are convertible into stock at par at any time
within ten days after the date fixed for payment of dividends on com­
mon stook.
_ „
.. . .
The annual report for 1886 was in V. 44, March 26. Gross receipts in
1885, $1,374,807; net, $430,417; interest and rentals. $366,845. In
1886. gross receipts were $2,353,982; net, $1,031,380; interest and
rentals? $507,210. (V. 42, p. 2 4 1 V. 43, p. 162, 274, 334; V. 44, p. 60,
90,185,275,308,343.)
„
.
- •-■
.
M ilw au k ee Sc Lake W in n eb a g o . —Owns from Neenah to
Schleisingervllle, Wis. Built in 1882 and leased for 99 years to Wiscon­
sin Central at 37*« per cent of gross earnings as rental; but after
$175,000 per year is received the balanoe of net earnings is to be equally
divided. The $1,000.000 debentures were authorized to be issued as
required for improvements, and they are convertible on any coupon day
into preferred stock; the lessee pays interest on them till 1894. Pref.
stock, 6 per oent cumulative, $780,000; common stock, $520,000; par
of shares, $100.
_ •
’
.
M ilw au k ee Sc N orthern—(See Map.)—Owns from Sehwartzburg,
Wis., to Iron Mountains, 199 miles; branches—Menasha and Appleton to
Hlllbert,Wis., 21 m.; Ellis June, to Menominee, 22 m ; total operated,
242 miles. Uses Ohio. M. & St. P. track, 9 miles, into Milwaukee. The
stock is $2,155,000. Bonds are authorized at $17,000 per mile. Road
is under construction north to Champion. Gross earnings in 1886,
$646,226; net, $232,085; fixed charges, $200,961; surplus, $31,124.
—(V.43, p. 368; V. 44, p. 244, 276.)
M ine H ill Sc Sch u ylk ill H a v e n .—Owns from Schuylkill Haven,
Pa., to Locust Gap, Pa., with branches, 137*2 miles. Road was leased
May 12,1864, to the Philadelphia < Reading Railroad Co. for 999 years
&
at a rental of $326,552 per year. There is no debt, and 8 per cent divi­
dends are paid. Operations are included in lessee’s returns.
M ineral R a n g e .—Houghton, Mioh., to Calumet, M ich, 151
«
miles; branch,Franklin Station to Franklin, 2 miles; total 17*2miles.
Opened Sept., 1873. Stook is $128,000, on which dividends of 10 per
oent per annum have been regularly paid since the opening of
the road. In 1884 gross earnings were $124,892; net, $47,493; surplus
over Interest, dividends, Ac., $19,115. In 1885, gross earniDgs, $81,429;
net, $33,538; surplus over all payments, $4,206. Total surplus Sept. 1,
1885. $94,949. (V. 41, p. 721; Y. 43, p. 132.
M in n e a p o lis Sc P a c if ic .—From Minneapolis northwest to Lidger,
wood, Dakota, 218 miles. Owned in part by capitalists in Minneapolis
and Inoome certificates for $4,360,000 are held by the projectors and
friends of the company. Bonds sold in New York in 1887 by Jno H.
Davis A Co.; they are limited to $12,500 per mile for road and $2,500
per mile for equipment. Hon. W. D. Washburn, President, Minneapolis,
Minn. (Y. 44, p. 204, 211, 213.)
M in n eapolis Sc St. L o u is.—Owns main line, Minneapolis
Angus, 259 miles; Pacific Division, Hopkins to Morton, 92 miles; Kalo
Branch, 2 miles; Lake Park Branch, 1*2miles; total operated, 354*2
miles. Leases trackage from Minneapolis to St. Paul over St. Paul A
No. Pacific R R .; also owns from Minneapolis to White Bear, 12 miles,
which is leased to the St. Paul A Duluth RR.
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 Bur. Cedar
Rap. A No. RR. The bonds on the 15 miles were issued by the Minneapolis
& Duluth Railroad before it was absorbed by this company. Preferred
stock of $8,000,000 is authorized and $4,000,000 issued; common stock;
$9,000,000 authorized and $6,000,000 issued; par of both $100 per
share. The projected Southwestern extension runs from Fort Dodge,
fa., towards Kansas City, Mo., 325 miles, with a branch to Council
Bluffs, 140 miles. R. R. Cable, President, Chicago.
The Wis. Minn & Pacific, Red Wing, Minn., to Eagle Lake, 84 miles,
and Morton to Watertown Junction, 121 miles, is leased and operated
by this oompany, but the M. & St. L. has no obligation for the bonds.
Common stook, $2,055,000; pref., $3,Qg0,000. Charles F. Hatch, Presi­
dent, Minneapolis.
From Jan 1 to. Jan 31 in 1887 gross earnings were $117,845, against
$73,695 in 1886; net, $23,915, against defleit of $16,105.
In 1885 gross earnings were $1,714,753; net, $592,621; charges,
$648,781, and net deficit after paying all charges was $11,708. In
1886, gross earnings, $1,549,620; net, $503,538. (V. 42, p. 156; V.
43, p. * 1 7 .)

M a r c h , 1887. J




KA1LR0AD STOCKS AND BONDS.

6 3

64

ENTESTOKS’

SUPPLEMENT.

[V o l . X L iV .

Subscriber* w ill coufer a great favor by givin g Im m ediate notice o f any error discovered In these Tables.
Bond*—Princi­
DESCRIPTION. ’ •
•
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal. When due.
Amount
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, Ac., see notes of
Road. Bonds Value.
on first page of tables.
whom.
Dividend.
Cent. Payable
Minnesota <- Northwestern—1st M., g., $16,0<J0 per T
£
n
M ississippi & Tennessee—1st mortgage, senes “ A” .
1st mortgage, series “ B, ” (a second lien).............
lstm ., gold, sink. fund, on road and land (U.P.S.Br)
1st mortgage, gold (Tebo. & Neosho).....................
Consolidated mortgage, gold, on road and land...
2d m., income, exchangeable for genl. m. 5 per ct.
Booneville Bridge bonds, gold, guar?....................
General consol. M.. gold ($7,829,000 are 5s)..........
East Line A Red River.............................................
Hannibal A Central Missouri, 1st and 2d mort ...
Intemat. & Gt. North’n, 1st mort., gold................
do
2d mortgage.....................................
do
Colorado Bridge bonds...................
Missouri Pacific—
Stock...............................................
1st mortgage, gold (Pacific RR. of Mo.)................
2d mortgage (s. f. $50,000 per annum)..................
Real estate (depot) bonds....................................
3d mortgage..............................................................
Consol. M., gold, for $30,000,000 (coup, or reg.)..
Carondelet Branch, 1st mortgage..........................
Leavenworth Atch. & N. W., 1st mort., guar.......
St. Louis A Lexington, 1st mort..............................
Leroy & Caney Valley RR. 1st mort., gold, guar..
Verdigris Vail. Independence & W., 1st M., guar.
St. L .lro n Mt. A So., 1st mort., coupon .....................
do
2d M.. gold, coup., may be reg ...................
do
Ark. Branch, 1st mort., gold, land g r "
do
Cairo Ark.& T., 1st, gold, cp.or reg .........
do
Cairo A Fulton. 1st, g ., on road A land . .

460 1884 $1,000
1,000
100 1877
100 1877
1,000
1,441
100
182 1868
1,000
1,000
100 1870
786 1871-3 1,000
786 1876 500 Ac.
1873
1,000
1,506 1880
1,000
1880
70 1870
1,000
1,000
776 1879
776 1881 500 &c.
1880
100
1,483
1,000
283 1868
1.000
283 1871
1872 500 &c.
1,000
299 1876
1,000
990 1880
1887
1,000
15*3 1873
1,000
21 1870
1880 500 &o
80 1886
1,000
210
310
99
71
304

....

1867
1872
1870
1872
1870

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

M in n eapolis Sault Ste. M arie Sc A tla n tic.—Road fln'shed
from Turtle Lake, Wls., to Rhinelander, Wis., 141 miles. Total length, as
protected from Minneapolis to Sault Ste. Marie, is 465 miles. A loan of
$9,000,000 In 5 per cent, bonds is reported to have been placed, and active
construction expected In 1887. W. D. Washburne, Pre*., M.nneapolis.
M in n e s o t a Sc N o r t h w e s te r n . —(See Wap)—Line of road from St.
Paul, Minn., to Dubuque Iowa, 253 miles: Chicago, 111., to I. C.
Juno., 111., 97 miles: Lyle Branch, Hayfleld to Manley Juno., 47
m iles; Waverly Branch, Sumner, la., to Hampton, la., 63 miles; total
460 miles (the mileage operated in April, 1887, is 280 in.; Chicago
Division to be open in June); under construction I. C. June, to Portage
Curve, 111., 52 m les. At Oelwein conneots with the Ch. St. Paul & K.
City RR. The road from Lyle to Manley Junction. 20 miles, is leased to
the Central Iowa. The common stock issued is $6,128,300; pref. stock,
7 per cent non-> umulative, $4,392,200. The first mortgage bonds are
authorized at $16,000 per mile for single track road; $4,0u0 per m. for
terminals in large oities and for bridges over Miss, and Mo. rivers; and
8,000 per mile for double track. Gross earnings from Jan. 1 to Jan.
1 were in 1887, $74,662, against $14,239 in 1886; net, $26,799, agst
def. of $4,646. For the year 1886 gross earnings were $540,091: net,
$203,374. See annual report for 1885 in V. 43, p. 72. A. B. Stickney,
Pres., St. Paul, M inn.-(V. 43, p. 72,162, 480, 516, 607; V. 44, p. 204.)
ltllM laslppl Sc T ennessee.—
Owns from Grenada, Miss., to Mem­
phis, Tenn., 100 miles. Capital stock, $825,455. Debt was consolidated
as above in 1877. A majority of stock was sold in May, 1886, to E. H.
Harriman and others identified with the 111. Cent. RR., and on July 1,
1886, default was made in the payment of interest on the Series B
bonds, though an offer to cash the ooupons was made. The present man­
agers state that the net earnings or previous years to those given
below have been overstated through the omission of taxes and general
expenses from operating expenses. See annual report for 1885-6 in
C h r o n io l e , V. 43, p. 773. The earnings and income account were as
follow s:
1885.
1886.
$489,549
$425,718
363,704
328,360

f

5 g.
(1)
$7,682,000
5 f : J. & J. London & New York.
977,000
A. & O. N. Y.. Harriman & Co.
8
do
1,003,000
do
J. & J.
8
46.405,000
2,067,000
6 g. J. & J. N.Y., Mercantile Tr. Co.
do
do
347,000
7 g. J. A D.
do
do
14,833,000
7 g. F. & A.
A. & O.
do
do
756,500
6
do
do
844.000
7 g. M. & N.
do
do
23,983,000 5 &6 g. J. & D.
do
do
J. & D.
347,000
6
do
do
725,000
7 g. M. & N.
do
do
7,954,000
6 g. M. & N.
M. & 8.
do
do
7,054.000
6
M. & N.
do
do
225,000
7
40,000,000
Q .-J . N. Y., Mercantile Tr. Co.
1%
do
do
7,000,000
6 g. r. & a .
j. & j .
do
do
2,573,000
7
do
M. & N.
800,000
do
8
M. & N.
do
do
3,828,000
7
do
do
M. & N.
14,714,000
6 g.
(1)
5
do
245,000
do
0 g- A. & O'
do
190,000
do
7
A. & O
5
F. & A.
do
do
650,000
do
800,000
do
5 g- J. & J.
do
do
<
i>
7
F. & A.
4,000,000
do
do
6,000,000
7 g. M. & N. New York or London.
2,500,000
7 g. J. & D. N. Y., Mercantile Tr. Co.
1,450.000
do
do
7 g. J. & D.
do
7,428.000
do
7 g. J. & J. r

July 1, 1934
April 1, 1902
July 1, 1902
Jan., 1899
June, 1903
1904-1906
April 1, 1911
May 1, 1906
Dec. 1, 1920
1900
May 1. 1890
Nov. 1, 1919
1909
1920
April 1, 1887
Aug., 1888
July, 1891
May 1, 1892
Nov., 1906
Nov., 1920
Oct. 1, 1893
Oct. 1, 1889
Aug., 1920
1926
Aug. 1,
M a y l,
June 1,
June 1 ,
Jan. 1.

i892
i897
T895
i897
1891

consol, and prior bonds; $447,000 for the East Line < Red River bonds.
fe
There were $10,000,000 reserved to take up Income mortgage bonds and*
in Nov., 1883, an exchange was offerea to the holders of Income
bonds, but some of them resisted and in 1887 a compromise was made
(V. 44, p. 276), by which the income bond coupon scrip was re ired.
’
There are $32,000 of Hannibal & Gent. Mo. 7s 2d mort. ( H.& N. bonds)
yet out, due in 1892; and also a small amount of old 8 per cent inoome
bonds of International & Great Northern, exchangeable into Int. & G.
N. 2d mortgage bonds. The I. & G. N. also guarantees $2,000,000 of
Galveston Houston & Henderson 1st mortgage 5 per cent bonds.
The annual report for 1885, in V. 42, p. 661, had the following:
MISSOURI KANSAS & TEXAS.—EARNINGS AND EXPENSES.

Earnings from —
1884.
1885.
1886.
Passengers........................................ $1,691,596 $1,592,713 $1,575,920
Freight............................................... 5,166,673 4,833,869
5,470,742
Mall, express and miscellaneous..
458,931
427,08 2
404,982
Total earnings...........................
Operating expenses.......................

$7,317,250 $6,853,655 $7,451,644
4,347,246 4,055,101
4,228,754

Net earnings..............................
Ratio of expenses to earnings_
_

$2,970,004 $2,798,554 $ J,222,890
59-41
59*1
56’ 74

INCOME ACCOUNT.

Receipts—
1884.
1885.
1886.
Net earnings.................................... $2,970,004 $2,798,554 $3,222,890
Dividends, Ac......................... . . . .
457,419
189,799
126,453
Total net income................... $3,427,423 $2,938,353 $3,349,343
Disbursements—
Interest on bonds........................... $2,439,618 $2,439,427 $2,483,363
Taxes, rentals, &o..........................
479,661
310,646 1,502,022

Total disbursements...........
$2,919,279 $2,750,073 $3,985,385
Balance for year.......................... sur.$508.144sur.$238,280def.$6e6,0i2
—(V. 42. p. 394,631. 6 6 1 ; Y. 43, p. 162,431, 516, 619, 746, 766; V. 44,
p. 90, 211, 276, 368.)
’
$125,845
$97,358
M is s o u r i P a c if ic . — ( See Map.). — L in e o f R o a d . — Owns
158,400
158,400
line from St. Louis, Mo., to Omaha, Neb., 496 miles; branohes 805
Deficit for year............................................. $32,555
$61,042 miles; total 1,301 miles. In May, 1881, the St. Louis Iron Mountain
A Southern was taken in. In 1886 the mileage was as follows: From
—(V. 42, p. 21, 604; V. 43, p. 23, 634, 7 7 3 , 7 7 5 ; V. 44, p. 211, 212.)
St. Louis to Texarkana, Texas Line, 490 miles; branch lines, Mineral
M issou ri K a n sas Sc T exas »—(See Map Mo. Poe.)—Line of Road Point, Mo., to Potosi, Mo., 4 miles; Bismarck, Mo., to Belmont, Mo., 196
—Hannibal, Mo., to Denison, Tex., 622 miles; branches, Dallas & Green­ miles; Poplar Bluff, Mo., to Bird’s Point, Mo. (Cairo), 74 miles; Gurdon,
ville ex ension, 54 miles; Parsons, Kan., to Junction City, Kan., 157 Ark., to Camden, Ark., 34 miles; Knobel to Forrest City, 97 miles;
miles; Denison, Tex., to Taylor, 258 miles; Whitesboro to Gainesville, Forrest City to Helena, 43 miles; Newport to Batesville, 29 raiia»;
Tex., 16 miles; Denison to Mineola, Tex., 103 miles; Denton, Tex., to Neelyville to Doniphan, 20 miles; Allenville to Jackson, 16 miles; total,
Dallas, Tex., 37 miles; Echo, Tex., to Belton, 7 miles; Trinity to Ogden, 1,003 miles.
Tex., 66 miles; coal branches, 8 miles; Jefferson, Tex., to McKinney,
O r g a n iz a t io n , L e a se s , Ac.—The Pacific RR. Co. (of Missouri) was
Tex., 155 miles. Total, 1,483 miles. International & Great Northern, incorporated under charter dated March 12, 1849, and road opened to
from Longview, Texas, to Galveston, Texas, 282 miles, of which 50 miles Kansas City in October, 1865. The oompany received a loan from the
leased from G. H. & H., and Palestine, Texas, to Laredo, Texas, 415 State of Missouri.
m iles; branches—
Houston to Columbia, 50 miles; Phelps to Huntsville,
The Pacific Railroad of Mo. was sold in foreclosure of the 3d mortgage
8 miles; Mineola to Troupe, 44 miles; leased—Round Rock to George­ Sept. 6,1876, for the nominal price of $3,000,000, to C. K. Garrison
town, 10 miles; Henderson to Overton, 16 miles; total operated 825 miles. and others, and a new company organized with a stook of $800,000.
Organization, History, &o.—The M. K. & T. Company was organized This foreclosure was afterwards contested by suit, but all litigation was
April, 1870, and embraces by consolidation the Union Pacific Southern settled in April, 1885. The present oompany was a consolidation in
Branch, the Tebo & Neosho and other minor companies. In 1874 the Han­ August, 1880, embracing the Missouri Pacific, St. Louis A Lex., Kansas
nibal & Central Mo. was purchased. The company made default on its City & East, and Lex. A South, in Missouri; and the St. Louis Kan. A
consolidated bonds in Deo., 1873, ana was operated by a Reoeiver from Ariz. and Kan. City Leav. A Atch. in the State of Kansas.
The St. Louis Iron Mountain & Southern stock was taken up with
Dec. 30,1874, to July 1,1876. when the Union Trust Company of New
York took possession. On Deo. 1,1880, the company took possession Mo. Paciflo in May, 1881, on the basis of three shares of Mo. Pacific for
Of its property, paying the overdue ooupons. The company had a land four shares of Iron Mountain, and the St. Louis A Iron M. stock is
grant which has been practically closed ou t; also a grant in the Indian held by Missouri Pacific.
Territory of 3,622,400 acres subject to the extinguishment of the
St o c k a n d B o n d s .—Under the new regime the payment of dividends
Indian title. The Booneville Bridge Company is a separate organiza­ was begun on the present stock in 1880, In whioh year lifi per cent was
tion, and earns interest and proportion for sinking fund.
paid. Dividends since were as follows r in 1881, 6; in 1882, 6 4 ; in
At a meeting of stockholders May 18,1881, a lease to the Mo. Pac. for 1883, 7 ; in 1884, 7; in 1S85, 7; in 1886, 7.
'99 years was ratified on terms following: That the lessee operate the
The consolidated mortgage above is for $30,000,000—
trustees John F.
road and pay the obligatory mortgage interest, paying over the balance. -Dillon and Edward D. Adams. Of the consol, bonds the balance unissued
to the Mo Kan. & Texas Co. SIf there is a deficit in income the lessee ($15,290,000) is in the hands of trustees to redeem prior bonds as they
may advance money to pay interest, or else the Mo. Kan. & Texas can fall due.
resume possession of its road.
For the payment for new lines acquired and to be acquired there was
The International & Great Northern Railroad was acquired by Mo. issued early in 1886 $6,000,000 of new stock at par to old stockhold­
Kan. & Tex. in May, 1881, by an exchange of two shares of Missouri ers; and $4,000,000 more later in 1886, when stockholders of record
Kansas & Texas stock for one of International & Great Northern, October 16 had the right to subscribe for one new share for each ten of
and the Int. & Gt. N. stock is held in the treasury of the M. K. & T. The old. Another $5,000,000 is to be issued, and stockholders of March 19,
Int. & G. N. roads were sold in foreclosure. July 31 and Oct. 14,1879. * le«7 , had the right to subscribe at par. The Leroy & Caney Valley Rail:Stock and Bonds.—The stook has ranged as follows since 1877, road, in Kansas. 8o miles, is leased and bonds guaranteed by Missouri
Viz.: In 1878, 2@71 in 1879, 5%@35%; in 1880, 28*8@49i4: in 1881, Pacific, as also the Verdigris Valley Independence A Western.
e;
O p e r a t io n s , F in a n c e s , & c .—The earnings and income aeoount below
8478®54; in 1882, 26%@42i2; in 1883,19*3@34,7 in 1884, 9%®2334;
8:
In 1835,14;c@371 in 1886, 21sSS^; in 1887, to March 19, 26>3^33%. are for the Missouri Pacific and its branohes only (1,103 miles); for, not­
8;
The consol, n.ort. 7s, due 1904-6, had a sinking fund of 1 per cent a withstanding the merger of St. Louis A Iron Mountain stock and lease of
year, beginning in 1874, but the sinking fund not having been carried Missouri Kansas A Texas, the operations of all the roads have been
out, it was reported in Oct., 1886, that bonds for all back years, inducting kept separate and are so reported.
interest, would bs culled in for redemption.
The annual report ot Mo. Paciflo for 1886 was published in the Chron­
The general consolidated mortgage is at $20,000 per mile on all road ic l e , V. 44, p. 368. The earnings, inoome account and balance shoe t,
built and to be built; of whioh $18,217,000 is reserved to take up first have been as follows:







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MAP OF THE

MISSOURI PACIFIC
R A IL W A Y ,

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A N D A L L IE D L IN E S .

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SUPPLEMENT.

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68

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INVESTORS’

Lead ville
/ - öS
•i0
^Created Butte
\ A * '.
<£\Colorado Sprs. / Klt C,<riÌon' kr
t
*1 i?
*
1
^
gran
de
’
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unison
J ^ S ^ e L lo
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Hot Sprs,
SlJLverton, Wagon West C liff0 0<?*<Vue ',? 5 r
i
............. Cnchara'
Wheel
Thatcher
I

H

M arch , 1887.]

RAILROAD

STOCKS AN D

BONDS.

67

Subscriber* w ill confer a great favor by giving im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.

on first page of tables.

Bonds—Print .INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due
Amount
of
of
Par Outstanding Rate per When Where Payable, and by Slocks—Last
Road. Bonds. Value.
Cent. Payable
Wnom.
Dividend.

Missouri Pacific— (Continued)—

St-L.LMt.ASo.,Gen.consol.M.(for $32,036,000) )
do
do
supplemental, gold 5

Mobile A Oirard—2d mort., end. b y Cent. Ga. RR..
3d mortg. bonds...............................

Mobile A Montg.— Stock.......................

1st mort. bonds by L. & N. RR. Co
Bonds................................................
Mobile A Ohio— Stock ($10,000,000).
1st mortgage, g o ld ........................
1st mortgage, extension, gold........ .
1st pref. inc. and s. f debentures, not cumulative
do
do
do
2d
do
do
do
3d
do
do
do
4th
Montgomery A Eufaula— 1st mortgage
Montgomery A Florida— 1st mortgage, gold.............
Montpelier A Wells River—Stock..............................
Morgan's La. A Texas—Stock......................................
1st mort., gold (N. O. to Morgan City)..................
1st mortgage, Alex. Extension, g o ld ....................
N. O. Opelousas A Gt. Western, debt assumed. . .
Moms A Essex—Stock.................................................
1st mortgage, sinking fund...................................
2d mortgage.............................................................
Convertible bonds...................................................
Gen. m. & 1st on Boonton Br. &c. (guar. D.L. AW.)
Consol, mort. (for $25,000,000) guar. D. L. A W-.
Special real estate mortgage...................................
Real estate terminal mort. (guar. D. L. & W).......
Nashua A Lowell—Stock.............................................
Bonds ($100,000 are gold 5s, J. & J., 1900)...........
Nashville Chattanooga A St. Louis—Stock...............

85
....
180
179
528
472
55
....
....
....
81
30
38
Ï02
157
80
132
84
84
....
34
137
....
54
554

1881 $1,000 $10,353,000
5 g.
1881-2 1,000
3,389,000
5 g.
1869
1,000
261,000
8
1,000
800,000
1877
4
....
100
2,950,800
3
2,689,000 - ' 6
1881
1,000
261 000
6A8
100
5,320,600
1879
1,000
7,000,000
6 g1883
1,000,000
1,000
6 g___
4,893.000
1879
7
....
1,850,000
1879
7
1879
600,000
7
1879
900,000
7
1879
1,500,000
....
6
1886
1,000
450,000
6 g.
....
800,000
2
50
5>000,000
16
1878
5,000,000
1,000
7
1880
1,477,000
1,000
6 g.
___
251,716
8
....
50 15,000,000
31«
1864 500 Ac.
5.000,000
7
1866 500 Ac.
2,999,000
7
Var’us 1,000
284,000
7
1871
1,000
4,991,000
7
1875
1,000
6,557,000
7
___
1,025,000
7
1882 I 1,000
2^220,000
41
g&5
. . . . 1 100
800,000
3ifl
’73-’80
300,000 6 A 5 g.
.... 1
25
6.668.362
t

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

O. N. Y., MercantileTr. Co. April 1, 1931
O.
do
do
April 1, 1931
J. N. Y., Nat. City Bank.
Jan., 1889
D.
¿o
do
June, 1897
N. Y., L. A N. Office.
Nov., 1885.
M. À N.
do
do
May 1, 1931
Various
N. Y. A Louisville.
J. A D. N.Y. Farmers’ L’n A Tr. Dec. 1, 1927
Q.—Jan
do
do
July 1, 1927
Yearly. N.Y., 11 Pine Street.
Last pd. 2 p. o. in 1881. Redeemable
only by
sinking fluid.
J. A J. N.Y., Nat City Bank.
July 1. 1909
M. A N.
New York.
1926
Boston.
(?)
Deo., 1684
A. A O. N. Y., So. Pac. RR.
April 1, 1918
J. A J.
do
do
July 1,1920
A. A 0.
do
do
J. A J. N. Y., Del., Lack A W. April 1, 1889
Jan. 1, 1887
MAN.
do
do
M a y l, 1914
F. A A.
do
do
Aug. 1, 1891
J. A J.
do
ao
Jan. 1, 1900
A. A O.
do
do
Oct., 1901
J. A D.
do
. do
June 1,1915
J. A J. N. Y.. Del. Lack. A W. July 1, 1912
M. A N. 2d Nat. Bk., Nashua.
Nov 1, 1886
F. A A.
do
do
1893 & 1900
New York A Nashville.

(

EARNINGS AND EXPENSES.
1884.
Earnings—
also 2 per cent on 2d incomes. In August, 1882. 2 per cent on the
1885.
1886.
$2,043,457 $2,004,578 $2,020.597 first preferred inoomes; in 1883,3 per cent; in 1884,5 percent in
, 6,047,339
5,153,025
5,518,296 1985, 3*a per cent.
The report for 1885-86 was published in the Chronicle, V. 43, p. 606,
686,832
Mail express and miscellaneous...
785,959
1,106,127
and stated that: “ The tonnage moved exceeded the movement of the
$8,777,628 $7,943,562 $8,645,020 previous years, both in volume and in ton-miles, but with a large de­
4,492,877
4.338,319
5,238,723 crease in the revenue derived therefrom; the inorease in the movement
notwithstanding the largely diminished local traffic, is due to a large in­
$4,284,751 $3,605,243 $3,406,297 crease in through and competitive busiuess, which latter is mainly of a
very low class of freight, and the same causes afifeot the revenue in the
51*18
Ratio of expenses to earnings.
54*61
60*59
reverse to the tonnage. The ootton movement was about the same as
ACCOUNT.
IN <
C
the previous year, both in volume and in revenue.’’
Receipts—
1884.
1885.
1886.
Inoome account for four years ending June 30 was as follows:
$4,284,750 $3,605,243 $3,406,297
income account .
Dividends, A c....
206,822
792,835
1,360,832
1882-83.
1883-84.
1884-85.
1885-86.
$4,491,572 $4,398,078 $4,767,129 Gross earnings........... $2,271,058 $2.276,917 $2,101,025 $1,962,328
Disbursements.
Net receipts....................$630,034
$731,450
$524,-39
$537,321
$1,798,200 $1,822,727 $1,875,470
Disbursements—
2,098,105 2,098,000 ]>
Interest on mort. bonds.$456,000
$471,200
$482,400
$481,600
Rate of dividend...................
7
7
► 3,185,762 Interest on incomes....... 159.000
265,000
Taxes, rentals, dec................ .
775,036
568,848
Miscellaneous.................
1,626
49,038
Total disbursements.................. $4,671,341 $4,489,575 $5,061,232
Total disbursem’ts.. $616,626
$736,200
$482.400
$530,638
Balance for year........................ def.$179,769 def.$91,497 def.$294,103 Balance...................... 8ur.$13,408 Def. $4,750 8ur.$42,439 Sur.$6,686
Sr. Louis I ron M ountain A Southern .—This company defaulted on —(V. 42, p. 22, 93,156, 243, 365, 549, 631, 783; V. 43, p. 6 0 6 .)
its interest in 1875 and finallv made a compromise with its bondholders.
M on tgom ery & E u fa u la .—Montgomery to Eufaula, Ala., 80
There are yet outstanding $346.384 of old income bonds of the several
issues, ana $73,000 of the Cairo & Fulton second mortgage bonds. miles. The road was foreclosed May 1,1879, bought by W. M. Wadley
and the present company organized.
Operated under contract by
The Mercantile Trust Co., of New York, is trustee of the general
oonsol. mortgage. The stock is nearly all held in the treasury of the Cent. RR. of Georgia. Stock is $620,000. Gross earnings year ending
June 30,1884, $299,470; net, $90,763. Div. of 10 p. o. paid in Apl., ’83.
Missouri Pacific Railway Co., having been retired in May, 1881, by the
M ontgom ery S F lo r id a .—Owns from Montgomery, Ala., to
c
issue of three shares of Mo. Pac. stock for four of St. Louis A Iron
Mountain. The sales of land in Arkansas on which the Cairo A Fulton McBrides, 30 miles, ani in progress towards Chafctahooohie, Fla. This
bonds have a lien are given in the report for 1886 as 44,184 acres was formerly the Montgomery Southern road, and was foreclosed in
May, 1886, and reorganized. C. W. Scofield, President, 115 Broadway.
at $2*88 per acre. Lands yet unsold, 886,157 acres.
The report for 1886 was published in the Chronicle, V. 44, p. 368,
M ontpelier Sc W e ll* R iv e r.—Owns from Montpelier to Wells
and the Income account was as follows:
River, Vt., 38 miles. Reorganized January, 1877. D. R. Sortwell,
President, East Cambridge, Mass. Gross earnings in 1884-5. $92.814INCOME ACCOUNT.
net, $17,774. Gross in 1885-6, $94,747; net, $8,262.
’
Receipts—
1884.
1885.
1886.
Net earnings.................................... $3,464,599 $3,619,416 $3,443,281
M organ ’ s L ou isian a Sc T exas R a ilro a d Sc Steam ship Co.—
Otharreceipts........ .....................
. 44,727
44,741
159,800 Tho road owned is from New Orleans to Cheneyville, 204 miles;
branches, 55 miles; Cheneyville to Alexandria (under track agreement),
Total net inoome..........................$3,509,326 $3,664,157 $3,603,081 24 miles; total, 283 miles. In February, 1883, the stock was sold to the
Disbursements—
Southern Pacific parties, and the Southern Pacific Company held (Deo 31
Interest on bonds...............................$2,206,854 $2,215,304 $2,214,131 1885) $4,062,700 out of the whole stockof,$5,000,000. This company’s
Taxes, br’ge, and car exp.,Ac.........
554,093
397,522
350,144 property consisted of seventeen iron steamships plying between New
York and New Orleans and between Gulf ports, also wharves, ware­
Total disbursements..................$2,760,947 $2,612,826 $2,564,275 houses, and terminal facilities, besides the capital stock of railroad and
Surplus for year............................... $748,379 $1,051,331 $1,038,806 other companies, including a majority interestin the capital stock of the
—(V. 42, p. 22, 93,125, 339, 387, 463, 661, 728, 753, 783; V. 43, p. 245, Houston A Texas Central Railway Co., Ac. In 1886 gross eamiDcs
309,459, 746, 766 ; Y, 44. p. 212, 244, 343, 36 8, 370.)
were $4,138,525; net, $1,059,518. In 1885 gross earnings were $4,232 M obile Sc G irard.—Owns from Columbus, Ga., to Troy, Ala., 84 018; net, $1,602,476; rentals paid, $230,OaO; interest on debt, $458,miles. Common stock, $985,415; preferred stock, $278,967, and $3,980 757; taxes, betterments, Ao., $153,662; total, $844,469; balance, sur­
Pike County stock. From June 1,1886, this road was leased to the plus, $758,007. Gross earnings from Jan. 1 to Jan. 31, $368,274 in
Central of Georgia for 99 years at a guaranteed dividend of l*a per 1887, against $389,877 in 1886; net, $95,514, against #126,402. (V.
cent per anuum. There are also $19,000 3d mort. 6 per cent bonds, due 42, p. 243, 365, 694, 7 8 1 ; Y. 43, p. 133, 163; V. 44, p. 344.)
Ju n e!, 1897. In 1885-86, gross earnings, $217,757; net, $59,185. (V.
43, p. 103, 398.)
M orris Sc E ssex.—Owns from Hoboken, N. J., to Phillipsburg
M o b ile Sc M ontgom ery—(Nee map Louisville A Nashville) — N. J., 84 miles; branch, Denville, N. J., via Morris & Essex Tunnel, to
Owns from Montgomery, Ala., to Mobile, Ala., 180 miles. The Hoboken, N. J., 34 miles; leased Dover to Chester, 10 miles; Newark A
old road was sold in foreclosure Nov. 16,1874, and purchased by bond­ Bloom. RR., 4 miles; total operated, 132 miles. In 1868 this road
holders, who organized this company on a stock basis. The stock is owned was teased in perpetuity to the Del. Laok. A W. RR. The lessees assume
by the Louisv. A Nashv. RR. Co., which now operates it. The old mort. all liabilities of the Mor. A Essex RR. and pay 7 per cent per annum on
debt outstanding is about $230,000. The Louisville A Nashville Co. the capital stock, and they also agreed to pay 8 per cent in case the
has issued $2,689,000 bonds seoured on this road, $2,677,000 of which Morris A Essex earns 10 per cent on its stock in any one year after the
are pledged for the collateral trust bonds of that company. Gross earn­ year 1874. The Moms A Essex is important to the Delaware Lacka­
ings in 1885-6, $1,032,936; net, $246,011; mt. and taxes, $212,643; wanna A Western as a route with terminal facilities on New York Har­
surplus, $33,367.
bor, but the actual earnings on the road show a large annual deficit for
M o b ile & O h io ,—(Nee Map.)—
Owns from Mobile, Ala., to Columbus the lease e company after the payment of rental. The loss to lessee was
Ay., 472 miles, and extension (by Ken. A Tenn. RR.) to Cairo, 21 m ; in 1880. $1,012,416; in 1881, $985,890; in 1882, $941.550; in 1883
leases St. L. A C. RR., Cairo to St. Louis, 152 miles, and track to Mill- $1,104,218; in 1884 about $1,100,000; in 1885 about $900,000.
staat, 9 miles; branches—Artesia, Miss., to Columbus, Miss., 14 miles*
N ashua Sc L o w e
from Lowell,
to
Artesia, Miss., to Starkville, Miss., 11 miles; Muldon, Miss., to Aberdeen, 15 miles. On Octoberll.—Owns a lease for 99 Mass., to Nashua, N. H.
years
the Boston A
Miss., 9 miles; total owned, 527 miles; total operated, 688 miles. In Lowell was made. The 1,1880. $60,000 per year, equal to 7** per cent
rental
July, 1885, the gauge was changed to standard, 4 feet 8 *a inches. In on stock, payable absolutely, is
and $4,000 (or one half of one per oent
Dec., 1.885, the lease of the St. Louis A Cairo RR. (161 miles) was taken more) is payable contingent upon the amount of gross earnings, and 8
, j years at a rental guaranteed to amount to $165,000 per year.
er cent nas been paid as rental for the past three years. The funded
A default was made May 1, L874, and two trustees and receivers took
ebt of $300,000, principal
is assumed by the lessee,
Pp®8®
6®!0“ May 8,1875, and the company was reorganized without fore­ the lessor holds the lessee’s and interest,same amount—$300,000. and
notes for the
closure. The holders of debentures have one vote for each $100, and each
year they instruct the Farmers’ L. A T. Co., trustees, how to vote at
N ashville Chattanooga Sc St. L o u is.—Owns from Chattanooga
?5?1 r iiilold?r£ meetings upon the majority of the stock of the Mobile & Tenn., to Hickman, Ky., 321 miles; branches—Wartrace, Tenn, to
8t?
Railroad Company, the power to vote upon which is irrevocably Shelbyville, Tenn., 8 miles; Bridgeport, Ala., to Inman, Tenn., 25
with the Farmers’ Loan A Trust Company, until the extinguishment miles; proprietary lines—Nashv. (»Lebanon, 30 miles; McMinnville
»1
£°kentui®*:
capltid stock authorized by the charter is Branch, 61 miles; Decherd to Fayetteville, 40 miles; Centreville
scares of $100 each, of which there have been Branch, 47 miles: Duck River RR. (leased), 48 miles; total, 580 miles.
»«Msd 53,206 shares. The debentures are seoured by a deed of trust of the
A majority of the stock ($3,385,000) is owned by the Louisville A
about 1,143,222 acres, and receive 7 per cent, if earned. In Jan., Nashville RR. Company and pledged among the collaterals for the
A886, there were in the sinking fund $437,000 of the first debentures.
trust loan of that comnany.




S

6 8




INVESTORS’

SUPPLEMENT,

[V ol. XLIY,

RAILROAD

M arch , 1887.]

STOCKS

AND

BONDS.

6 0

Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.

Bonas—Princi­
INTEREST OR DIVIDENDS.
~ Miles Date Size, or
Amount Rate per ' " Where Payable, and by pal, When due,
of
of
Par
ast
Road. Bonds Value. Outstanding Cent. Payable
Whom
Dividend.

on first page of tables.

Nashville Chattanooga A St. Louis—(Continued)—

1 st mort, (for $6,800,000), coup............................
2 d mort.....................................................................

340
321

1873
1881

$ 1,000

$6,300,000

7
6
4
500.000
480.000
6
300.000
„66 A t8
173.000
376.000
6
500.000
6
71,000
6
1,642,557
3
1.900.000
7
178.000
6 g.
174,400
10
2,000,000
5
150.000
4
2la
1.400.000
750.000
6 g.
250.000
7
800.000
7g.
1,164,500
250.000
"7
700.000
6
6
(*)
525.000
7
2.460.000
3
1.300.000
7
260.000
6*7
1.200.000
6
700.000
5
700.000
5
3,00«',000
4
400.000 ]
6

J.
J.
J.
J.
J.
J.
I.

& J. N.Y., Continental N.Bk,
A J.
t
do
. do
& D.
do
do
& J.
do
do
A J.
t
do
do
* J.
do
do
& J.
do
do
do
do
M .& N .
do
do
J. & D.
Nashville.
J. & J. N. Y., 50 Exoh. Place.
A. A O. Nashv., 4th Nat. Bank
t
N.Y., Bank of America
J. *& "j.
Bridgeport, Conn.
J. & D Bridgeport, Treasurer.
M. & S. Philadelphia, Co.’s office
A. & O. Last paid April, 1884
M. A S.
t
N. Y. L. E. & W. RR.
M. & N. N. Y., Union Trust Co.

July 1, 1913
July 1, 1901
June 1, 1891
101
1877
LOCK)
Jan. 1, 1917
do
1st mort. on Lebanon Branch........
30 1877
1,0 0 0
Jan. I, 1917
do
for Jasper Branch..........................
13 1877
1,0 0 0
1907 & 1923
do
for Centreville Branch...................
47 1882
Jan. 1, 1923
do
for Tenn. Coal & Iron RR................
20
1886
1909
Duck River RR., 2d mart., endorsed...................
48 1881
Nov. 1, 1909
Nashville A Decatur—Stook, guar’d 6 p. o. by L. < N. 122
&
Deo. 6 , 1886
1 st mort. guar. s. f .................................................... | 1 19
119 1870
1 ,0 0 0
July 1, 1900
2 d mortgage, inoome......................................
119 1867
500
Oct. 1,1887
Natchez Jackson A Columbus.—1st mortgage..
99
1885
Naugatuck—Stock..............................................
66
1 00
Jan. 3, 1887
Bonds.................................. ......... ..................
61 1883 l.OOO&o
June 1, 1918
Nesquehoning Valley—Stook............................. .........
18
50
Mar. 1, 1886
Nevada Central— 1st mort., gold (sink, f., $20,000)
94 1879
1,0 0 0
Oct. 1, 1904
Newark A Hudson—1st mortgage......................
5 1871
1 ,000
Sept., 1901
Newark Som
erset A Straitsv., O.—1st mortgage
44 1869 500 <
feo.
Nov. 1 . 1889
NetoburgDutchess A Connecticut—Inoome b on d s... . . . . 1877
1977
Newburg A New York—1st mortgage...............
12
1868
1,0 0 0
J. & "j. N.Y.,OffloeN.Y.L.E<fcW Jan. 1 , 1889
New Castle A Beaver Valley—Stook..................
15
50
Q .-J .
Newcastle, Penn.
Jan. 2, 1887
New England A Southwestern—1st M. ($6,000,000).
26 1885 1 ,0 0 0
M. A 8 . *. Y ( entrai Trust Co Sept. 1 , 1926
t
New Haven A Derby— 1st & 2d mortgages................
13 68&70 500 < o.
&
Various N. Haven, Meoh. Bank. 1888 A 1900
t
New Haven A Northampton—Stook............................ 170
100
New Haven,
Oot., 1873
Mortgage bonds, ooupon..........................................
92 1869
1,0 0 0
J. & 'j .
do
do
Jan., 1899
Holyoke & W.,leased, 1st M. ($200,000 guar.)........
17 1870
1,0 0 0
A. & O. N.Hav. .N.Tradesm’s Bk Apr.l ’91 & ’98
Consol, sink, fund $15.000 per yr. & mort. bonds. . . . . 1879
1,000
A. & O.
do
do
April, 1, 1909
Northern Extension........................... „ ....................
27 1881
1,000
A. & O.
do
do
April, 1911
Convertible bonds for extension to Shelb. Falls... ___
1886
1,0 0 0
J. & J.
do
do
July 1,1896
New Jersey Junction—1st mortg. coup, or reg. guar. . . . . 1836 1 ,0 0 0
A A. New York Agenoy.
t
Feb. 1, 1986
New Jersey A New York— 1st mort. (reorganization)
30 1880 K O
O Sfcs.
M. & N. N.Y., Mercantile Tr. Co. May 1, 1910
‘ " ^ e n n . Coal ^ Xron
|
P
«
,
^ ^
t e m e a e n le d for 2 »
TUe company had net income in the year 1885-86 of $144,931 over ! y
’
guarantee or 5 per oent per annum.
Nevada Central.—(See Map Union Pacific.)— Battle Mountain to
all expenses, but paid no dividend; inO’ot., 1886, resumed dividends
Ledlie, 8 6 miles; branoh, Ledlie, to Austin, 7 miles; total. 93 miles
by payment of 1 par cent.
For the <ight months from July 1, gross earnings were $1.811,523 in Stock, $1,000,000. There are $250,000 8 per oent income bonds due
•
1930, which are held by the Union Paoiflo, as also $ <59,000 of the
1883 -7 , against $1,477,480 in 1885-6; net, $772,016, against $ 595,121
surplus over int., taxes and improvements, $230,847, against $107,023 stock. Default was made Oot. 1,1884, on the bonded interest, and re­
ceiver appointed Feb., 1885. Gross earnings in 1885, $68,062- net
EARNINGS AND E XPENSES.
$2,879; defloit under interest, &o., $42.120. Gross in 1884, $98,289- net!
$5,934; defloit over interest, &o., $39,066.
»
» ■
»
1882-83.
1883-84.
188485.
1885-86
Earnings—
N ew ark A H u d so n .—Owns from Bergen Junction to Newark
c
$
$
$
Passenger.........................
621,171
663,618
N. J., 6 miles. Leased to New York Lake Erie & Western at a rental
649,737
601,820
Freight ............................ 1,513.875 1,559,765 1,435,878 1,429.468 of $33,000 per annum, which pays interest on bonds aud 7 percent
Mail, express, rents. «fee..
143,477
148.703
155,101
153,821 on the stook of $250.000. Corflandt Parker, President, Newark N J
N ew ark Somerset A Straltsvllle.—Owns from Newark, (j "to
c
Total gross earnings___ 2,233,523 2,372,086 2,240,719 2.183,109 Shawnee, O., 44 miles. Road was completed iu 1871. Leased to Sanduskv
Total operating expenses. 1,274,855 1,3 03,446 1,304,002 1,322,858 Mansf. & Newark for 14 years from Jan. 1,1872. Operated by the Balt
& Ohio, which pays 30 per oent of gross earnings, and advances anv
Net earnings.............. 1,008,668 1,063.646
936.717
865.251 additional amount necessary to meet the Interest on the debt. Oanltal
P. 0 . operat’g ex. to e’rn’gs
55-80
stock, common, $795,400, and preferred, $218.200. Gross earnings in
54-94
58 01
60-45
1882-83, $164,781; net, $19,511; loss to lessee, $29,922. In 1833-84
INCOME ACCOUNT.
gross $168.532: net, $757; loss to lessee, $19,802. In 1884-85. gross’
1882-83.
1883-84. 1884-85.
1885-86. $118,430; deficit. $29,102; loss to lessee, $64,631.
Net Receipts—
$
$
$
$
c
from Dutchess June
Net earnings.................... 1,008,668 1,068,640
936,717
863,251 N.N ew burg D utchess A C onnecticut.—Owns & Col. RR. was sold
Y., to MilTerton, N. Y., 59 miles. The Dutchess
Miscellaneous receipts...
77,247
29,072
11,947
Aug. 5.1876, and this company was organized Jan. 8,1877, by the pur­
$150 000
Total inoome............. 1,085,915 1,097,71.2
948,664
865,251 chasing bondholders. In addition to above inoomes, there are$ i 3 l ¿231st mort. 7s, due in 1907. In 1884-85, gross earnings
Disbursements—
$
$
$
$
net, $13,864; defloit under interest, &o„ $2,511. In 1883-84 gross'
Interest on debt & taxes.
650,972
662,320
682,273
675,096 $177,333; net, $1,022. The common stook is $172,000 and preferred
Dividends.........................
266,802
Improvements..................
104,465
106,0/7
58,401
45,221 Stook $715,350. John 8 . Schnitze, President, Matteawan, N. Y.
N ew burg A N ew Y o r k .—Owns from Vail’s Gate Junction to
c
Total disbursements.
755,437 1,035,*99
740,674
720,317 Greenwood Junotion, N. Y., 13 miles. Leased Ootober 5,1866 to Erie
RR., at $17,500 per annum (being interest on the bonds),and operated
Balance, surplus...............
330.478
62,513
207,990
144,934 now by New York Lake Erie & Western. Has no stook.
Bonds held by Ü. S. Government.......................... .

1,000

GENERAL BALANCE A T END O P EACH F ISC A L T E A R .

Road and equipment....... 16,194,823 16,316,655 16,950,242
Assets not available.......
352,876
562,727
*81,322
Inv’tm’ts in st’ks & bonds
&hnndn
1 7 ') S f l n
aro a m
a Q i o i / i
iu
472,590
462,940
481,314
Bills receivable................
8,387
8,722
is , 132
Realestate........................
84,864
80,334
62.461
Due from agents, &o.......
196,988
188,919
250,436
Cash..................................
325,006
300,217
264,408

188 5-86.
$
17,0 9 4 .8 7 6
75 768
A 'r o 'm a
478,714
19,087
67,961
277,372
311,0-18

Tota}-.-........................ 17,635,534
Liabilities —
$
Capital stock........... 6 ,6 70,331
Bonded debt........... 8,757,000
Bills payable...........
5.97,132
Bal’ce due indlvid’ls, &o.
140,327
Int’st coupons due July 1 283,740
Dividends................
15,082
Pay-rolls, &e....................
66,256
Int st on b’ds held by U. S.
153,600
Miscellaneous..........
3,899
Profit and loss.........
948,167

18,324,836
$
6,663,362
9,200,000
268,0 47
31,092
296,905
17,048
85,152
153,600
13,616
1,571,014

Assets—

1882-83.

1883-84.

17,920,544
$
6,670,331
8,903,000
591,499
97,343
287.970
21,942
75,490
153,600
3,636
1,115,678

1831-85.

18,108,314
$
6,668,363
8,998,000
467,268
42.947
290,905
18,323
72,721
153,600
15,119
1,381.068

_ £ ?tal........................... 17,635,534 17,920,544 18,108,314 13,324,836
_
* $502,749 was charged off to “ Road and Equipment” during the year.
ifiv Au’ 1 o -,1 "5 -n
“Zr!: 3 9 7* oj*9» 631, 753; V. 4 i, p. 132, 245, 334.
»6 7 , 459, 487, i> 8 . 73 3. 746; V. 44, p. 113, 244, 3700
(>
N tw h v ilif * D e ca tu r .-(See Map Louisville A Nashville.)—Owns
leased
„to Decatur, Ala., 122 miles. The road was
Jmv 1 !*-£, • ,1871, to, the lx»ui8V. & N«shv. RR. for 30 years from
lfWL A ? /Z’ , a re.Lital of 6 per cent per annum on the stock. The
g n r ^ : r d A 1 ^ de, t Of the Nashville fit Decatur Co. In 1882-83,
b
i56 nw ^ l f - u
? 380-207- Iu 13,4-85 gross, $l.o61,» 0 0 . net, $46o,lb8; interest and taxes, $291,061; surplus, $1 75 .10 6
N a t c n ^ v ? . ^ * 1*0 “ * C o lu iu b n » .-O w n 8 completed road from
6n m - l "
-ueKson, Miss., 100 miles. Stock. $2,260,809. New
j_?®? u u
$ 10 ,0 0 0 authorized but
,
few
Floattag debt l‘ Bonds tor 884, 0$329,493. Earnings very1886,issued. $1»4,Jvc. 31
for
gross,
»•¿5; net, 845,634 Larmngs for 1885, $194.35,; nei, »60,923.
pwn 8 from Naugatuck Junction to Winsted, Conn.,

toN ^ “ueuu ‘
T
,riSm Nesquehoning Junction. Pa.,
Pa., 1 imie “ u,f■
u'
i aTuuuel Branca, riauto, Fa., to Lansfo.d,
:
for 999 years to tni* f im
9Peued in 1870, aud was leased
$130,000 pe anuum^In Be pt., ?« n H & aH011 Co'was a lease rental of
per
uul in
1884, the lease afc modified so as to




1 , 000,000

N ew Castle A Beaver V a lley.—Owns from Homewood, Pa. to
c
New Castle, Pa., 15 miles. Road In operation since 1860. Leased to
Pittsb. Ft. W. & Chic. RR. for 99 years at a rental of 40 per oent on gross
earnings. Lease transferred to Pennsylvania Company. There is no debt
In 1879,13 per cent dividends were paid; in 1880,13 p. 0 .; in 1881 24
p. c.; in 1882,14 p. 0.; in 1883, 29 p. o; in 1884, 19 p. 0 .; in 1885,10 p 0 •
*
in 1 38 6 , 6 p. 0 . Gross earnings in 1885, $171,682; rental received. * 6 8 672; gross in 1886, $207,214; rental received, $82,855.
*
N ew E n glan d A Southw estern.—This road, as projected will
c
extend from Brewsters, N. Y. (junotion of New York A New England
c
New York & Harlem aud New fork City & Northern), to and across the
Hudson River by bridge at Storm King, to a oonneotiou with the Erie
West Shore, New York Ontario & western and the Lehigh & Hudson
railroads on the west side, making 26 miles of road m all The 00 mpauy was formed by act of the New York Legislature of 1850 as
subsequently amended, and the act of 1836, chapter . 82, an l claims
the rigut to bridge the Hudson. Tue stook is $3,0 j j .o >0 and the bonds
$ 6 .0 0 0 ,0 0 6 , whioh stock and bonds are taken by the Phteuix Bridge
Company of PmBnixville, Pa., aud they have contracted to build the
structure within two years.
N e w H aven Ac Derby.—Owns from New Haven, Conn., to Ansonia
Co ui., 13 miles. Capital stock is $446,600, of which New Haven city
owns $200,060. New Haven City guarantees the $225,000 second,
mortgage bonds, and has a claim or about $300,000 for money ad­
vanced. Negotiations have been pending between the company and the
city for an adjustment. Gross earnings iu 1834-5, $156.737: net
$63,792. In l883-»4, gross, $158,206; net, $65,023.
’
New H av en A N orth am pton .—Operated irom New Haven*
c
Conn., to North Adams, Mass., 123 miles; branches—Northampton to*
Williamsburg, 8 miles; 1 afmiii-ton Conn., to New Hartford,Conn 14
miles; Bouth Deerfield to Turner’s Falls, i 0 miles; to Tariff ville, Conn
1 mile; leased—Holyoke & Westfield RR., 14 miles; total, 170 miles!
In April, 1881, a controlling interest in the stock was sold to New York
New Haven & Hartford parties. In 1884-85 gross income was $304 099; net, $275,704; surplus over charges, $9,230. Iu 1885-6, gross in­
come, $842,509; net, $292,218; surplus, $10,384. (V. 43, p, 132.)
N ew Jer <ey J a ettou —Terminal road through Jersey City, Ho­
boken aud Ween iwneu, connecting the trunk lines terminating at chose
points. Leased for 100 years fro u June 30, 1386, to tue N. Y. Central
& H. R. RR. Co., wliioh company guarantees the‘ ooa is absolutely and
owns the stock of this company. The mortgage is for $4, o06,Oj O
.
New Jersey Ac New Y o r k .—Owns from Erie J unction, N. J., to
Stony Point, N. Y., 31 miles; Naunet to New City, 5 miles; Hackensack
to Erie Junction, 6 miles. Leased—GarnerviUe RR., l mile; total oper­
ated, 37 miles. Organized Sept. 4, 1874, by consolidation of the Hacken­
sack A New York RR. and the Hackensack < N. Y. Extension RR,; re.
t
fc
ceiver appointed in 1877, and the two roads were separately foreclosed.
The present company was formed on reorganization in April, 1880.
Stock. $2,000,060 common, $300,000 preferred. Iu Jan.. 1886, the
Hackensack RR., previously leased, was consolidated into this Oempaqy.
Gross earnings in 1884-5, $168,064; expenses, $130,, 63; net earniiigs*
■gs*
$37,3ol. Gross in 1383
$210.649; expenses, $202,523. (V. 42. p
215, 597,753.)

INVESTORS’

70

SUPPLEMENT.

[V o l . X L I Y .

S u b s c rib e rs w ill e o * f e r a * r e a t f a v o r b y givin g im m e d ia t e n o t ic e o f a n y e r r o r d i se o v e r e d i n tb e s e
^
INTEREST OR DIVIDENDS.
pal,When Due.
DESCRIPTION.
Miles Date Size, or Amount
Stocks—Last
Par Outstanding Rate per When Where Payable, and by
of
For explanation o í column headings, &c., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
N. Y., 119 Liberty St. July 15, 1899
J. A J.
6
$600 $1,449,600
78 1879
Deo. 1, 1899
j r j, Southern—\»X mort. (int. guar, by N.Y.A L.B.;
New York.
J. A D
7
200.000
Jan. 1, 1887
Long Branch A Sea Shore, 1st mort., guar........... 100 1869 1.000
New London, Office.
Q.—J.
1.500.000
lht
100
Sept., 1885
JSewLondon Northern—S tock ....................... — *
■
A. A O. N. Y., B’k of N. America
6
300.000
lOOAo.
July, 1892
do
do
1st mortgage bonds.................................................. 100 1865
J. A D.
7
387,500
July, 1910
2d m ortgage___ __. . . . . . . ---------- . . . . . . . ----------- 100 1872 500 Ac.
do
do
J. A J.
5
812.000
1,000
OonsoL mortgage (for $1,500,W K »------/............... 121 1880
100 11,660,000
Nov. 1, 1926
Newport News A Mississippi Valley—Stock...............
M. A*N. New York, Agenoy.
800,000
1,000
68 1886
Nov. 1, 1915
New Orleans A Oulf— 1st m ort, gold........ .— •
A. A O. New York, Agency.
1.372.000
1,000
1885
New Orleans A Northeastern— Prior lien mort.,£ old1 ,000,000
New York Brooklyn A Manhattan Beach—atocx —
J. A J. N. Y., Corbin Bank’g Co Jan. 1, 1897
7
500.000
**14 1877 500 Ac.
Oot. 1, 1935
N. Y. A Man. Beach RR.. 1st mortgage.................
do
do
798.000
5 g. A. A O.
1,000.
May 1,1904
N.Y. B.&M.B., 1st consol, mort., Ro l d - - r ^ * v - " All. 1885 ÄlOOAo
6 g. M. A N. London. Baring Bros. Apr. 15,1887
4.000. 000
N. Y. A Canada— 1st M., sterUng, guar. D. A H. Can. 150 1874
Q .-J . N.Y., Or. Central Depot,
1
89,428,300
100
993
May 1,1893
New York Central A Hudson River— Stock....
do
do
M. A N.
5
6.450.000
1853 500 Ac.
Deo. 15,1887
Premium bonds (N. Y. Central) ext. 10 y rs ’83.
do
do
J. A D.
6
2.391.000
1,000
1854
Jan. 1, 1903
do
do
Renewal bonds
J. A J.
7
1,000 30,000,000
840 1873
J. A J. New York and London. Jan. 1, 1903
9,733,333
1,000
! ooupon °r "*• { 840 1873 l.OOOAo 7.850.000
i g- VI. A S. N.Y., Gr. Centr’l Depot, Sept. 1, 1904
1884
Debenture bonds (for f lO % 0 0 ,0 ^ c o u ^ o r reg/ .
0
50,000,000
100
pref.) 523
Deo. 1, 1921
Last paid Dec. ,’ 84
N, Y. Chicago A St. ¿ . —Stock ($22,000
000 "e'g. J. A D.
1,000 15.000.
513 1881
Mar. 1, 1923
Last paid Mch. ’85
1st mortgage, gold, coup, or reg.
M. A S.
6
1.046.000
1,000
513 1883
May 1. 1910
2d mortgage(ror $10,000,000).
Last paid Nov. ’81
M. A N.
4.000.
000 6
62 1880 500 Ac.
1926.
New York Agenoy.
if. Y. City A tforthem—General mort................ ••••
A. A O.
6
1,000
0)
50 1886
if. F. Danbury A Boston—1st mortgage...................
New York, Co.’s Offl
P. A A.
7
900.000
40 1875 100 Ac
New York A Greenwood Lake. 1st mort., Income ..
do
do
M. A S.
7
1.800.000
100 Ac
April 1, 1887
2d mort., In com e.................. . ............................
8.618.500 2 C. L. J. A J. N.Y., Gr. Central Depot, I April 1, 1887
50
New York A Harlenn— Common stock........................ 156
do
do
1.381.500 2 C .L J. A J.
50
May, 1900
do
do
M. A N.
000 7
1,000 12. 000.
OoMoLmort?coup, or reg., (for ^ ,0 W ,0 W )).... 132 1872
N. Y. by D. L. A W. Jan. 1, 1887
Q.—J.
1^
100 10,000,000
Jan. 1, 1921
if. Y. Lackawanna A Western.— Stock,.guar., 5 p.ct. 213
do
do
J. A J.
6
1,000 12, 000,000
200 1880
Aug. 1, 1923
1st mortgage, ooupon. may be reg^tCTed
do
do
P. A A.
5
4,450,000
1,000
2d mort., guar, by D. L. & W. (for $5,000,000).... 200 1883
r « r « e v S o u th e r n .—The road extends from Port Monmouth,
U
H
A
70 mUes, with branch from Eatontown to Pt. Mon­
mouth 9 miles The property was sold in foreclosure March 31,1879 (see
r^ S ^ ioL B V 287p.352), and the present company was organized July
The capital stock
subject
25.1879. ontheTurn's River is $1,590,600. The property Is a n c h to
R^audJ|200,000^on the ^ ^ r
&
“ lfeofiHX) > Pniimiul
l.OOO
This latter bond is endorsed b„ ___
Shore ®a
The above mortgage is for $1,590,600, of
Com pa^esoi
the New York A Long
hv endorsement of the bonds, and the Central of New
K iS c o . , o . o v « A » e .

G r«» e « « -

t o m NtwPiin d r a , Conn., to
BratHeb.ro Vt?, 121 m il«, oi which 100 m il« leaacd to J. G. Smitband
others This road has been operated since Deo. 1,1871, und?rJ.e|£e io
ft<
°tn« 5i * - Vermont Railroad; the lease wasf it for A20A yearsa .at i n$150,000
y c iu x y x x u
V
(
A A
A
A
m
o ’f l r t V P T
140. Rental and Interest
907; dividend (6 per A in is*. V a lle y .—Tills is the company formed
cent) $90,000: surplus. $38,337.
and operate^
the Huntington lines between Newport News,
Va . 25d New Oceans, La. In Deo., 1886. this company owned $5,579,— »—
,
a/uY nhM — . • southwestern common, and oo,***,000 preferred
Ohio A Southwestern common, anu
SSuxir s i 055 500 Elizabethtown Lexington A Big Sandy RR- stoek,
1 ^ * 1 650 W O C h M a p ea k eA Ohio bonds of 1918. Company
ieaLa the three r o t ^ mentioned, aggregating 1,040 miles, the
for 50 years and the latter two for 2 5 0 years, agreeing to
„ . ... nxnenses interest and fixed charges so far as net eanungs

t ^ a?
ole S

a
ll

by Mr. W H. Vanderbilt at the price of 120, and
sb ^ es sold
afterwards. Dividends of 8 per cent Pe r .^ ™ m tern been Pp H < ^ o f
1868, but in 1885 only 3 ^ per cent; was paid, and inY886, 4.
«
1«76,96B1171 ; In 1 87 7 , 85 VOlOii1 - 1878,1
,
.
18t i !?23»8®1388
®139; in 1880, 1 2 2 ® 1553s ; in l881,130M3>155 in 1 ^ 2 ^ 1 2 3 ^ 1 3 8 ,
in 1883, 1111 L291 in 1884, 83^^122; in 1885, 81^^107*4, in lo o o ,
«®
s;
q« 3i 7 1 173ft* in 1887 to March 19,110® 1111
*
*.
9 The debenture bonds of 1884 must be included in any new mortgage
l8OMRAT?ONS.1 finances. A o.-T h e New York Central A Hudson
River RR. has an exceptionally rich local traffic, but the profits also
d A Mnd vftrv much noon harmony among tno trunK linos*
Tv
Del® 1 88 5 ? a &
of the West W e Railway was taken for
475 years and the bonds of $50.000,000 at 4 per cent guaranteed, by N.
Y c A Hud . and $10.000.000 West Shore stock taken asconsideration.
For the quarter ending Dec. 31,1886, returns were as follows:
1885.
$6,876,601
Gross earnings..................................... ^5 4 5 « 7 4 9
4,135,208
Operating expenses.............................
$2,741,392
Net earnings..................................
lo o
1,467,000
$1,274,392
894.283
Dividends paid (1 per cent)................
894, ¿aa
Def. $380,109
Balance
.......................... Sur. $711,024
Annual report forf 1885-6 in Ch ronicle , V.^44,^. 58.
Net íñoome, DivlYear
Gross
------,over exp.; dends,
. . -.endin Passenger Freight (ton)
Mileage.
^Receipts, int. A rents, p. o. Surplus
Sep. 3' ».Mileage.
Í.310 $30,628,781 $5,743,904 8$*1,401,608
«OA oo nrrr\ noo H Q07 1 RA 8
179,024
ilia i l l i t i l i e i
J’327d56
1884 387*829,886 1,970,087,115 28,148,667 4,668,759 8 *2,490,885
31« *953,651
1885*488'397 774 2.137.824,205 24,429,441 2,176,342
1886.476,’l28,729 2,414,266,463 30,506,362 4.650,100 4 1,072,968
* Deficit. In 1884-5 total deficit was $2,295,072.
_ ..
(V.42. P. 22.198. 217, 519, 631; V. 43, p. 5, 23, 399, T45; V. 44, p.

P
f t i t ’ o S
Of 00., Not 23 Broad st. and New feaven, Conn.
—(V. 43, p. 547; V. 44, p. 90,344.)
.
rkt-inaiia A G u lf.—The line of the road is from New Orleans
N^W i ? . , , i R i v e r to Point-a-la-Hache, with a branoh, 2 n «™ v o i- k c 'h ic iu t o A St. L o u is .—Buffalo, N. Y „ to Grand Cross­
m a to v 68^. m u K S f of which 30 miles were operated in 1885. The ing, 111., 513 miles ; teased In Buffalo l ^ miles ;
S J t f e X r ld ^ L o n d o n , Nov., 1886, by Messrs. Satterthwait A cago 9 miles ; total, 523 mites. This C?mpany wa^ form ^ i^ 8 8 1 a n d
became known as the “ Nickel Plate.” Of the stock $22,000.000 is
C«
N o r t h e a s te r n .—Line of road from New Orleans, r>referred 6 per cent. In October, 1882, the sate of a majority of tb®
P ock to a syndicate took place, inoluding 124,800 shares oi common
S8K ^ W r s t o c \ ^ 2 »
y
oek and 140,500 preferred, at the respective prices (as reported) of 17
id 37 The L. Sh. A Mich. So. owns this stock. •
_
am
On March 23,1885. D. W. CaldweU ^
th eÌo^ Ì
Ala.
on the first mortgage interest occurred June 1,1885.
iri tne ioreSUPPLEMENT.)
v . w V M k B r o o k l y n A M a n h a t t a n ! B e a c h .-F r e m rresn eiosure sudt in January, 1887, the Common Pleas Court at. Cleveland,
the
Pond Junction to Manhattan Beach,
^ ^ ^ l ^ o f t h e i f 0 rave tedmnent against bondsvalidity of the first mortgage, owing to
the metbods^ln whion the
were negotiated by the directors, and
ruled ^in favor of the second mortgage. T ie Lake Shore party proposal
(fit /A Man. B RR. Co The railroads are leased for 99 1 sltttement, which was accepted bv tbe 1st mortgage bondholders’
ths Long Island RR* Co. at 35 per cent of gross c o a t e e on toe terms given in V. 44, p. 211, viz = Tbat a new $20,C ^ m n M ^ t h e ^ e n t a l guaranteed to be at least $95,980 in eaoh year OOOBOO mortgage be issued, bearing 4 P®r cent, r^ n in g till 1937, and
Of thes^ock $650,000 is preferred for 5 per cent, but not cumulative. these bonds be given to the old mortgage bondholders at 112 for firsts
and 110^ for seoonds; toe old stocks are assessed 10 per oent, and toen
_(V. 4 2 , p. 215, a_
479; V. 43, p. A125.)
_
_ u m i
AJ
■«
_
re »iv e n e w preferred and oommon sto ok respectively for
per oent
of the faoe of their old stock; new first preferred stook for $5,000,000
'
la issued for the cash assessments paid. Receiver’s certificates for one
>m
rear were autlmrized in Feb., 1887f to take up toe equipment bonds
Ohazy J
0
18 "1876 The^road is leased and virtually 7 FÌr the Quarter ending t»ec. 31 the returns were as follows.
Gross eiu-nings, $1,188,576 in 1886, against $957,136 ¿885; net, $439r
291, against $342,227; balance over rents and taxes $345,781, against
?2- 8^the‘year ending Sept. 30 toe reports to the New York State ComFor 1 ,
—
c i S C i I ? H a « i..n .--L n .E O KOAD.-O=
W
» m mlssioners showed:
1885-86.
1884-85.
Y nrtC W r to Buffalo, N. Y., 442 miles: branches on New York
$3,111,729
f e r n divSon, 307 mites; .total owned, ^ 9 mites; jt o e s ^ a s e d - Gross earnings........................................^ ’ a? 7 ’ h^7
2,307,820
Operating expenses................................
$803,909
<)08,151
R en tes, ®tore8,g&o.' (no int. on mortg.)
'415,066
müea:
fo u r t h tewk,
$495,758
ooo^mfiAR • turnouts 758 miles—making a total of 2,406 miles of track
S Z S d Ÿ v th ?1oompany . a i d l?282 mfie8 leased, ¿,688 miles in all.
p. 1631 334, 459, 608, 774; V. 44, p. 60,118, 211, 212, 244, 276,
?
thB D m i l l Val! A P. RR., 104 miles, but reported sep- 4 3 ,
arately?r Tbe West Shore R’way was leased In Deo., 1§85,
27N e w 8Y o r i f ^ l t y A N o r t h e r n .—
Owns from 157to ^ reet te 8to
Organization, &c . -This oomi
1* lS ^ ^ T h e ^ N ^ v <
Yorkac^txal^wa8*a ccnsolidation of several reads
nnder a sneoial law of April 2,1853. The Albany A Sohenectady Rail%mtember 12.1831, as toe Mohawk A Hudson, was the
Sref ’rs ^ o a d bufit in the State of New York. The Hudson River RailToad was ohartered May 12,1846, and road opened October, 1851.
HTO^ANDBoOTTs.-Tie famous scrip dividend of 80 per oent on toe
BTOOTstw * of the New York Central was made
i the consolidation with toe Hudson River road (Nov. 1,1869) a
further dividend of 27 per oent was distributed, on the New York
Central stook and 85 per oent on the Hudson River stock. I h H®J*»
y ^ 2 6 0 , 000 shares ($25,000,000) were sold to a syndicate o f bankers

^




and toe o
of which
1887 nmadteg Mr. JoelB. E rtiidt, receiver. Grosseaminrain l8iM*^
s in 1 8 ^
ureli 3 fn it, $36,154; deficit for year, $205,146.—(V.
3?^
P- 547
® jro
44, p! 90”, 211,235,870.)

M arch , 1887.J

RAILKOAD

STOCKS

AND

BONDS.

71

Snlwcrlber» w ill confer a great favor by giving Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
!„ „
IJ O U1—i 'l l uulSh
INTEREST OR DIVIDENDS.
------ --------------------------------------------— ------------ r Miles Date Size, or
!pal,When Due.
Amount
For explanation of column headings, &e., see notes of
of
Par
When
on first page of tables.
Road, Bends. Value. Outstanding Rate per Payable IWhere Payable, and by Stocks—lernt
Cent.
Whom.
Dividenti.

W Y. Lake Erie A W —Stock, common.. . . . . . .
.
est.

Preferred stock....................................................
1st mortgage (extended in 1867 to 1897)
2d mortgage, gold (extended in 1879)...............
3d mort., gold (extended 40 years at 4*2 p. ct)_
_
4th mort., gold, (extended in 1880 at 5 per cent).
5th mortgage, convertible..................................
Buffalo Branch Bonds.........................................
Long Dock Co., old mortgage.............................
do
mort., coup.,gold (for $7,500,000)
1st consolidated mortgage, gold.-,...........................
do
do
funded coupon bonds.
N. Y. L. E. & W. reorganization 1st lien b’ds, gold
do
2d consol, mort., gold..................
do
income bonds (non-cum.).............
do
fund.ooup.bds (redeem, at 105 A int.)
Collateral Tr. bonds, gold, red’ble at 110..............
Car trust bonds (only $600,000 are 6s)................
Weir Yoric A Long Branch—Stock..............................
Mortgage bonds..................................................... j
N. F. A N. England—Stock ($20,000,000 auth’rized)
Preferred stock, 7 per cent cumulative..................
1st mortgage ($6,000,000 are 7s)...........................
2d mortgage ($3,341,000 are 6s)............................
Notes and debts for terminal property..................
New York New Haven A Hartford—Stock............I
Mortgage bonds, reg. (for $5.000,000)..................
Harlem A Portohester, 1st mortgage guaranteed,
do
do
2d M., coup, or reg., guar..
New York Ontario A Western—Common stock ..
1st M.. gold, for $4,000,000 (redeemable at 110)..'

38
38Ó

$100 $77,303,700
....
100
8,147,400
6
1847
1,000
2,482,000 - 7
1879
1,000
2,149,000
5 g.
1853
1,000
4,618,000
41
«g,
1857
1,000
2,926,000
5 g.
1858 500 Ac.
709,500
7
1861 100 Ao.
182,600
7
1863
1,000
3.000,000
7
1885
1,000
4,500,000
6g.
1870
1,000 16.890,000
7
1878 500 Ao.
3.705,977
7 g.
1878
1 .0 0 0
2.500,000
6 g.
1878 500 Ac. 33,597,400
1878 300 Ac.
S*
508,008
1885
1,000
4,032,000
5
1882
1,000
4,273.000
6 g
_
....
5,612,000
6 &5
....
2,000,000
31«
.
1882
1,500.000
5
....
19,313,000
....
....
1,900,003
"àia
1876
1.000 10,000,000 6 * 7
1882
1,000
4,361,000 3, 5 & 6
1882
1,646,532
4
....
100 15,500,000
2ia
1883 1,000Ac
2,000,000
4
1873
1,000
2,000,000
6*7
1881
1,000
1,000,000
4
....
58,113.982
1884
1,000
2,927,000
8 «.

A. A 0.
J. A D. N. Y., 119 Liberty St.

Jan. 15,1884
May 1, 1897
Sept. 1, 1918
Mar. 1, 1923
Oct. 1, 1920
June 1, 1888
July 1. 1891
June, 1893
Oot. 1, 1935
Sept. 1, 1920
Sept. 1, 1920
Deo. 1, 1908
Deo. 1, 1969
June 1, 1977
Deo. 1, 1969
Nov. 1, 1922
1887-1892
Oct., 1886
1923

....
Boston.
J. A J. Bos., Safe Dep. A T’st Co.
F. A A.
Boston.
Various
Boston
Q. - J. N.Y., Grand Ceu. Depot.
J. A D.
do
do
A. A O.
do
do
J. A D.
do
do

Nov. 1,1886
Jan., 1905
Aug. 1,1902
1886-92
April 1, 1887
June 1, 1903
1903
Jane 1,1911

M. A 8.

Sept. 1, 1914

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

Ñ.
do
do
S.
do
do
S.
do
do
O.
do
do
D.
do
do
J.
do
do
D.
do
do
O.
do
do
S. New York and London.
8.
do
do
N.
do
do
D. Coupon of June,’86, off.
D. Last paid Dec. 1883.
D
N. New York A London.

New York

N. Y . D a n b u r y & B o sto n .—Road projected from Bronx River. in 1878 has
N. Y., to Danbury, Conn., 50 miles, double track. Contract to finish road several yearsbecome aastandard gauge system. The inoome account for
showed considerable surplus over fixed charges, but in
in one year let to Heman Clark. Bonds of $2,000,000 taken by a syndi­ 1883-84 the income fell off largely, and there was a deficit below the
cate. This is the road named as the connecting Mne of the N Y & New interest requirements, and three coupons, June, 1884, to June, 1885.
England, meeting the Suburban Rapid Transit also at Bronx River. on the 2d consol bonds, were passed.
StocK is $3,000,000. The directors are as follows: F. A. White Pres • Some of the holders of oar trust bonds have relinquished their right
R. M. Hazard, J . L. Macaulay, D. C. Calvin, Geo. 8. Scott, Wm P Wat’ to annual drawings of principal, and
of the
son, Chas. H. Capen, John C. Short, Robert Blake, Theo. Talbot. (V to reduce their interest to 5 per cent, 90 per centholders holders agreed
but other
obtained a de­
43, p. 103, 635, 671.)
cision sustaining their original eontract.
New Y o rk A G reenw ood L ake.—Owns from Jersey City, N. J..
F orfou r
1886-87 earnings were
to Greenwood Lake, 48 miles; branches — Ringwood Junction to |7.?A3,589, months from Oct. 1 to Jan. 31 in net $2,318,352, against
against $7,297,665 in 1885-8b;
Bi?€ W
0iSL2
North Newark to Orange, N. J., 8 miles; total, 58
02,052.
miles. This was the Montclair Railroad, opened in 1874. It was sold
For the quarter ending Dee. 31 g ois earnings were $6,268,521. agst
and reorganize^ as Montclair A Green wood Lake, and again sold $5,,66,021 in 1885; net, $2,071,326, against $1,892,597; surplus.
October 1 2 , 1878, and the present company organized. The New York $476,596, against $203,624.
’ ’ ^
’
*
'
Lake Erie A Western purchased a controlling interest in the property
The annual
for
ending
*4? J1 ^ operate ft. The holders of the second mortgage bonds nave Chronicle , V.report 648year 669, hadSept. 30, 1886, published in the
.0
43, p.
and
the following:
a right topay off the first mortgage bonds of $900,000 at 105, and thus
OPERATIONS AND FISCAL RESULTS.
gain control of the property. The stock is $100,000. Gross earninsrs in
Operations*—
1882-83.
1883-84.
1884-85.
1885-86.
1885, $188,474; nef, $¿21,514; other charge!, $19,149. A b Z n
rrcflia^nt.
Passengers carried.. 6,934,724
6,734,045 7,209,054 7,727.051
v N« w Y o r k & H a r le m .—Owns from New York City to Chatham, Passenger mileage .. 247,147,117 235,105.058 250,635,115 256,137.487
127 “ U 8- Fr°m Chatham to Albany, 24 miles; the Boat. A Alb , Freight (tons) moved 13,610,623 16,219,598 14,959,970 18,668.239
®
KR. is used. This company owns the Fourth Avenue street railroad Freight (tons) mil’ge 2306946892 2408888976 2381778927 28923H126
The property (except the horse railroad) was leased April 1,1873, tor
Figures of traffic do not include coal and supplies. W ö
8
401. years, to tike N. Y . Central A Hudson River RR. at 8 per cent ¿iviEarnings—
$
$
$
idends on the stock and the interest on the bonds. The Fourth ave. horse Passenger.................
4,632,229
4,675,872 3,936,793 4,393,812
railroad was retained, and extra dividends are paid out of its receipts Freight...................... 17,213,621 15,773,004 13,813,249
16,894.908
operations of the main road are included with Mail,expr’s,rents,Ac.
956,396 1,188,559
1,134,530
1,211,326
those of the N. Y. Central & Hudson.
Total gross eam’gs. 22,802,246 21,637,435 18,934,572 22.500.046
New Y o rk L a ck aw an n a A W e s te r n .-(S e e Hap of Del. Lack.
AW
est.)— From Binghamton to Buffalo and International Bridge and Operating expenses. 15,444,583 16,358,077 14,347,516 16,388.639
branches, 214 miles; built under the auspices of Del. Lack. A Western.
7,357,663
5,279,358 4,587,056 6.111.408
2
a5d
d
Del. Lack. A West, for 99 years, with Net earnings...........
64*78
69*52
69*79
66*97
a guaranty of the bonds and 5 per cent yearlv on the stock. The fatter P. 0. op. exp.to earn’s
fosr^Jffy is written across the face of the certificates and signed by the D.
The statement of profit and loss inc’ udes numerous items, and referL -& W. officials. Sept. 30,1884. owedD. L. A W. for advances $420,143 ence should be made to the table in V. 43, p. 669, of which the totals are
v t
W e ste rn .—L ine o p R oad .—Jersey City, as follows for the years ending Sept. 30.1883, 1884, 1885 and 1886:
h n i’
46j> “tiies •branches—Piermont. 18 miles'; New•
1883.
1884.
1885.
18^6.
jP miles,^Buffalo. 60 miles: Erie International RR., 5 miles; „ . , .
$6,356,983 $5,589,748
$7,057,869
Rutherford to Ridgewood, 10 miles; leased—Montgomerv & Erie RR., Total incom e.... $8,234,463
6,968,978
7,055,606
6.966,691
7,048,258
10 miles; Goshen & Deckertown, 12 miles; Newburg & New York, Total debits*....
m U ^ ef i w ^ r8S4>N o^ar?,J , 11 miles; Hawley A Honesdale, 24 Burp, or deficit.
$1,265,485 def.$698,622 df$l,376,943 Bur. $14,611
Bnff v ° v R? ' t 3/ “ J]®8:
1
Brad. & Pittsburg and extension, 68
* Includes full interest on 2d consols each year whether paid or not.
m1 m
1
Etie.
miles; Suspension Bridge & Erie Junction.
MrJSr*?o R,9che^ i * Genessee Valley, 18 miles; Avon Gen. A Mouni —(V. 42, p. 60, 93, 187. 207, 243, 264, 272, 304, 431. 463, 549. 604
I® ™U®s: Wati& tiu d.,15 ndles; Pat. A Ram., 15 miles; Lockport
23,132, 191, 245, 399, 648, 6 6 9 , 671 V. 44, p. 22, 90,
Z i J , 0O0, o b y .)
« m iw .w i4 iles
®8 miles; controlled—Newark A Had.,
^ keil. N-7 -,* FT; Bee. 4 miles; Northern of N. J., 25 miles;
N ew Y o rk & Lon g B ra n c h .—The following-named companies
* Crawford, 11 miles; N. Y. Penn. & Ohia and branches, 573 were consolidated on December 21, 1881: New Yo°k A Long Branch
miles; total operated, 1,678 miles.
RR., from Perth Amboy to Long
miles;
1883, began to operate the New York Pennsylvania A Ohio mingdale RR., from Long BranchBranch, 23 Beach, New E gyptA F arto Ocean
7 ; Long Branoh A
1883, the Chicago & Atlantic road was Sea Girt RR., from Ocean Beach to Sea Girt, 3; New York A Long
^ arlon, Ohio (on the New York Pennsylvania & Ohio), to Branch Extension RR., from Bea Gi rt to Point Pleasant, 3 • Long
268 miles, and under control of N. Y. Lake Erie A West, gave a Branch A Bamegat Bay RR., from P oint Pleasant to Bay Head, 1:
2 S i ™ S i eT Y
orkto C ca ; b t in1885- o in to&8 e total length, 38 miles.by The CentralJan. 3,1882, the Penn. RR. ma­
M ff0 u
w*
8 n jority of the stock, and contract of RR. of New Jersey holds a and
A n ^ ^ o o 0* ' h A 8eI v* c --;TSe New York & Erie RR. was chartered Central of N. J. agree to pay 32 p. ct. of gross traffic—$206,000 per veal
B
18 j2, and tbe 8T oi New York loaned the company 83,000,,ate
minimum
Read leased
000; the road was opened to Dunkirk April 22, 1851. The company as aCentral of to $240,000 as a maximum. WhenthePhila.APenn. RR. of
ttie
N. J., litigation was begun to deprive the
ThiRFrir ? ^ ed Und®
/
r
,name of Erie Railway Co. June 25, f l e i further use of this route, but a compromise was made.
^ 7 aJ„was 8° ld in foreclosure under the second consolidated
N ew Y o r
is as fol­
mortgage in 1878. The present company was organized and took lows: Boston k A N ew E n g la n d .—The mileage owned Newburg. 3
to Hopewell Junction, 215miles; Wleopee to
v 1? 7I; „
Tbe Bong Dock Co. has stock of $800,000, all miles; Providence to WilUmantic, 58 miles; branches—Newton, Mass .
undi^w & iieoa«Yi i t ! 5 & w -5 M» property consists of lands and lands to Woonsocket, R. I., 28 miles; East Thompson, Conn., to South*
ooow water, about 577 acres, with piers, buildings, Ac.
brklge, Mass., 17 miles; Elmwood to Dedham. Mass., 1 Sm iles; Charles
^Referred stock has a prior right’ to 6 per cent S™ j,*"®® Hill, Mass., 2 miles; other branches, 1 ^ miles; total owned.
»*
fiSEJSF'SSfSS iT0? 1 i he net profits, “ as declared by the boafd of di- 326 miles. Leased—Franklin to Valley Falls, 14 miles; Vernon to BookJ S H be„H ;8* S4 ? r?ine
h® in 1 8 8 6 that this stock has ville, 4 miles; Springfield to E. Hartford, Ac., 34 miles; Norwich A Wor­
ld
'^al right to claim a dividend, though net earnings are sufficient.
cester RR., 66 miles; total leased, 119 miles; also has running arrange­
O o m r ™ i . » t o o k since June, 1878, have been as follows: ments over 26 miles more. Total, 471 miles. Controls Norwloh A N /Y
Z®8® 22^ ! 1111879, 21ie®49; in 1880, 30®51 is; in 1881, Steamer line.
ta ^ 88 f? Q
’ii4y,o8 72,33l4? o f
1883, 267 8®4078; in 1884, I lls ® 28 83;
The former Boston Hartford A Erie Railroad became insolvent and was
3 1 ^ 88P r » f ^ ? 2 i i , 88^ , 22 V ®38^ : in 1887 to March 19, 29^® succeeded by this company, formed in 1873. In 1878-79 the company
371e® 7818; in 1880, 47®93la; acquired the Hartford Prov. A Fishkill RR. Since the completion at
71 •V
n
^
*47®8£ 4; ln 1883.72®83; in 1884, 20® the line to Fishkill on the Hudson In 1883, the through traffic rates
7 Th«
5a7 8® i ^ in^1§86, S O ^ S lia ; in 1887 to Mar. 19, 65>a®74i2. have been demoralized, and the N. Y. A New England has not vet
5
dated
ooaP ,n bonds are secured by lien of console realized the full benefit of that extension.
®
can t
’ 11^4 ibe second consolidated mortgage no foreclosure
On January X, 1834, Mr. C. P. Clark, the President, was appointed the
K^1« ii , s,i.c4e88iye C0UP°n8 are in default, but all of one receiver, and so remained till Jan. 1,1886, when the road was returned
Dak?0 T m?aaQ)rt,Pai<T b®iore any part of a subsequent coupon is to Its owners. For the car trust bonds 2d mortg. bonds were issued,
n
1
S ) trn «L 18i 3 ttocpllat’l ta u t bonds were issued (the U. 8. Trust bearing 3 per cent to Feb. 1890, 5 per cent to Feb. 1892 and 6 for b iff
.
notiiS^^hAnt % -innno’ 509)’ and redeemable at 110 on three months’ ance of term. In 1885 $2,000,000 of 7 p. c. cumulative preferred stoek
7
ab?ut $730>9°0 y ere so redeemed Nov., 1885. The 2d consol. at par taken by stockholders and others cleared off the floating debt.
M n D m sZ f?h A
V 85 were issued to fund three past due
1?
Gross earnings for four months from Oct. 1,1886, $1,348,440, against
security Thoofl
oi J4ine' 188®, and the coups, are deposited as $1,224,282 in 1885-86; net, $464,943, against $425,027.
»gums
mterest*
redeemable at any time at 105 and accrued
F«r fimuter ending Dec. 31 gross earnings were *1,042,169, against
m O Onn
OO
Doc^
for ? 7.500,000 was issued in 1885
neT $380,279, agaiost $369,0 7 l ; surplus over charge«,
» S i m o r t ° a r ^ f M 66*tbe old bonds), and the bonds under $110,170, against a deficiency of $64,636 in 1885.
pi t ? ble at 110 from proceeds of land sales.
Bee annual report for year
Sept. 30,1896, in V. 43, p. 70
OPMU.X10N8, Finances , Ac.—The company sinoe its reorganization Operations, Ao., for four years endingere:
past w




INVESTORS’
SUPPLEMENT.
[You XLlv.




RAILROAD STOCKS AND

M arch » 1887.J

BONDS,

73

S u b scrib e r* w ill confer a great favo» by giving Im m ediate notice o f any error discovered In these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
d e s c r ip t io n .
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &o., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Road Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.

New Yorfc Penn. <•Ohio—Prior lien bonds, go!d,$&£
£
1st mort., gold (no foreclosure till 1895,) $ & £ ..

2d mortgage, incomes, $ & £ ..... ............................
3d mortgage, incomes, $ & £ ..................................
y. Y. Phila. <■Norfolk— 1st mortgage, gold.............
£
Income mortgage, non cumulative.........................
y, Y. Pros. d Boston— (Stonington)—Stock.............
k
First mortgage...........................................................
1st mortgage (Stonington to New London)...........
y Y. Susqtieh.dk W
estern— 1st mort., Midland of N. J.
Mortgage, gold, on Paterson Extension...............
New first mort., gold (2d M. on 72 miles)..............
New 2d mort. (for $1,000,000) ...............................
Debenture bonds......................................................
Gar trust certificates................................................
if. Y. Tex.dkMcx.—1st M.. gold.....................................
y, Y. W haven & Rockaway—1st mortgage, coup .
ood
Income bonds, non-cumulative, reg.......................
Car trusts, secured by 1st mortgage bonds..........
Niagara Bridge d Canandaigua—S tock ..................
k
Norfolk Southern— 1st mortgage, gold.....................
2d mortgage, income (not cumulative)..................
2 d mortgage debenture...........................................
Funded Int. bonds ($270,000 secured by coupons)
Norfolk d Western.—Common stock..........................
k
Preferred (6 per cent) stock.....................................
General mortgag. gold (for $11,000,000).............
1st M.,gold. on New Riv. div, (coup, or reg.)........
Improv. & Ext. mort., gold, ($8,000,000 author’d)
Adjustment mort., gold (red’ble after ’94 at 110).

432
432
432
432
112

"82
50

12

73
Ì34

16
100

75
75

533
533
428
108
533
533

1880 $500&e. $8,000.000
6 g. M. & S. London and New York.
1880 500 &o. 44,236,000
7 g. J. & J.
do
do
1880 500 &o. 14,500,000
5 g. M. & N.
do
do
1880 500 &o. 30,000,000 *■ 5 g. M. & N.
'
do
do
1,848,000
1883
1,000
6 g. J. & J.
Philadelphia.
1,000,000
6
1883
1,000
do
do
3,000,000
2% Q—Feb. N. Y., Central Trust Co.
100
1,000,000
1,000
7
3. & J.
do
do
1869
300,000
4
1881
A. & O.
do
do
1,000
6
1880 500 &c.
3,500,000
A. & O. N. Y., Nat. Park Bank.
250,000
1881
1,000
6 g. I. & D.
1887
3,750,000
1,000
5 g. J. & J.
1887
4% F. & A.
(1)
600,009
F. & A. Paid % oash, % scrip.
1882
6
500
....
831,420
6
Quar.
1882
1,518,000
500
N. Y ., So. Pac. Co.
4 g. A. & O.
1882
600,000
1,000
6 g. J. & J.
Treasurer’s Office.
1,000,000
1885
6
180,213
6
F. & A.
1,000,000
3
100
A. & O. N. Y., Cent. RR. Offioe.
1880
900,000
1,000
6 g. M. & S. Int.fund, from Sep.1,’84
1881
1,000,000
6
Yearly.
1,000
6
1881
1,000
250,000
A. & 6. Int.fund. from Sep.1,’84
’80-’82
345,000
300
6
Various
100
7,000,000
....
100 18,000,000 3% scrip.
1881
1.000
6,907,000
6 g. M. is N. N. Y. and Philadelphia.
1882
2,000.000
6 g. A. & O.
1,000
do
do
1883
3,500,000
1,000
6 g. F. & A.
do
do
1884
1,500,000
1,000
7 g. Q.—M. New York and Phila.

March 1,1895
July 1, 1905
May 1, 1910
May, 1915
Jan. 1,1923
Oot. 1,1933
Feb., 1887
July 1, 1899
April 1, 1901
April 1, 1910
1911
Jan. 1,1937
Feb. 1,1937
Aug. 1, 1897
1887-1893
Oot. 1, 1912
Jan. 1, 1902
Jan. 1, 1912
Aug. 1, 1890
Oot. 1, 1886
Sept. 1, 1920
Jan. 1, 1970
Oot. 1, 1921
1920 & 1921
Jan. 15,1884
May 1, 1931
A p r ili, 1932
Feb. 1, 1934
Deo. 1, 1924

Again sold Jan. 6, 1880, and reorganized by a London committee
of stock and bond holders. (See V. 30, p. 143.)
Five trustees exercise the voting power of the new stook until the third
3,337,901
Grose earnings..........
mort. bondholders receive 7 per cent interest in cash during three years.
The first mortgage bonds bear 7 per cent, whatever portion of this that
Net earnings..............
396,276
may not be earned to be payable in deferred warrants, to be capitalized
Other receipts...........
31,846
in bonds of the same class; payment of interest to become absolute not
Total income...
385,481
428,122
1,010,704 1,278,800 later than July 1,1895, ana until July 1,1895, the right to foreclose
the mortgage is suspended. On the second and third mortgages there
Disbursements—
Rentals pa id.............
74,844
88,903
130,132
66,235 is no right to sue the company or to foreclose. The stock is—preferred
Interest on bonds*. .
848,064
916,273
933,221
964,629 $10,000,000; common, $34,999,350. The deferred warrants Deo. 31,
Int. on floating debt.
7,594
10,113
28,769
94,269 ’86, were $5,502,176. Bonds above are also secured on leasehold estates.
From May 1,1883, leased to N. Y. Lake Erie & Western. The rental
Int.on car tr’s' s &mis.
86,582
82,103
32,041
9,507
...........
............
7 per cent dividend......................
133,009 will be 32 per cent of all gross earnings up to $6,000.000, and 50 per
cent of all gross earnings above $6,000,000, or until the gross earnings
are $7,230,000, and then 35 per eent of all earnings. But if 32 per oent
Tot’l disb’ments. 1,017,084
1,097,397
1,124,1661,267^640
Balance................ def. 631,603 def. 669,275 def. 113,459 sur. 11,169 of the gross earnings should ever be less than a specified minimum sum
of $1,757,055 to be paid yearly, then the deficit is to be made up without
‘ Including int. on Terminals and full interest on bonds each year.
—(V. 42, p. 60, 61,156, 187, 243,304, 393, 431, 463,437, 575, 596, 694: l nterest out of the excess in any subsequent year. Out of the rental paid,
V. 43, p. 23,103, 132,162, 274, 399, 459, 548, 635, 6 7 0 , 672, 746, 766; the N. Y. P. & O. has to pay its Interest and rentals, and a payment of
$260,346 a year to the oar trust.
V. 44, p. 22,149, 185, 276, 308, 344.)
Earnings for year ending Sept. 30,1886, $6,161,107; net, $2,011,522;
New f o r k New H av en Sc H artfo rd .—Owns from Harlem JunoN. Y., to Springfield, Mass.. 123 miles; branches to New Britain, Middle, rental to N. Y. P. & O., $2,001,101; surplus of N. Y. P. & O. after all pay­
ments, $9,876. See V. 44, p. 342, 370.)
to ,vn andSufiield, 18 miles, leased—Harlem & Portohester RR., 12 miles:
New Y o rk P h iladelph ia S N orfolk.—Operates from Delmar,
c
Shore Line RR., 50 miles; Boston & New York Air Line and branch, 54
miles; Stamford & New Canaan Road, 8 miles—total operated, 263 Del., to Cape Charles, Va., 95 miles, and King’s Creek, Md., to Crisfleld,
miles. This was a consolidation July 24, 1872, of the New York & New 17 miles; total, 112 miles. Successor of the Peninsula RR. Co. of Ya.,
Haven and the Hartford & New Haven railroads. The company uses Jan. 1, 1884, purchased the Eastern Shore (Md.) RR., Delmar to Oristhe N. Y. & Har. RR. from Williamsoridge into N. Y. City and pays a fleld, 38 miles. Capital stook, $1,714,375. There is also a 6 per cent
large rent therefor. The company leases the Harlem River & Port­ bottomry mortgage for $225,000 due in 1387. Gross earnings in 1884,
ohester Railroad, and guarantees the bonds. In November, 1882, the $123,526; net, $50,236; interest on bonds, $55,920. Gross In 1885
lease of the N. Y. & Boston Air Line for 99 years at 4 per cent per an­ $313,148; net, $18,500; interest, $120,007. A. J. Cassatt. Pres., Phila.
N ew Y o r k P r o v id e n c e S B o s t o n .—Owns from Providence. R.
c
num on the preferred stock was made. In Sept., 1882, the stock of the
Hart. & Conn. Val. road was purchased. In April, 1881, a controlling in­ I., to Groton, Conn., 62 miles; Warwick RR., 10 miles; Poqjtiac branch,
terest was bought in the N. Haven & Northampton RR. stock by parties 4% miles; operates also Pawtuxet branoh roads, 5% miles; total oper­
in the interest of this company. In 1883 the mortgage for $5.000,000 at ated, 82 miles. Owns u m agom y interest in the Providenoe & Stoning
4 per cent was authorized, to be issued as required in making improve­ ton Steamship Line, which nas a capital of $1,400,000. Gross earnings
in 1885-86, $1,237,120, against $1,139.386 in 1884-35; net earnings,
ments on the main line. Fiscal year ends September 30.
For the quarter ending December 31 gross earnings were $1,953,353, $376,073, against $378,370. (V. 43, p. 745.)
N ew Y o r k Susquehanna S W e ste rn .—
c
Jersey City to Grave
against $ 1,844,529; net, $676.227, against $663,934; surplus over fixed
charges, $467,422, against $470,083. Annual report for 1835-6 was in Plaoe, 101 miles; Two Bridges, N. J., to Unionville, N. Y., 21 miles; other
branohes, 12 miles; leased—
Unionville, N. Y., to Middletown, N. Y., 14
V. 44, p. 58.
miles; Lodi Br., 2 miles; Penn. RR. traokage, 2 miles; Passaio Br., 3
1883-4.
1884-5.
1885-6.
miles; total, 155 miles.
$
$
The New Jersey Midland was built as a connecting line of the New
Gross earnings..........................
6,887,259
6,895,824
7,601,946
Operating expenses..................
4,655,044
4,449,238
4,775,^20 York & Oswego Midland, and went into receiver’s hands March 30.
1875, and was sold in foreclosure Feb. 21,1880, and the Midland of
2,232,245
2,446,536
2,826,126 New Jersey was organized. The New York Susquehanna & Western was
a consolidation in June, 1881, of the Midland or New Jersey, the Pater
Disbursements—
Rentals paid..........
422,992
425,663
442,876 son Extension, the North Jersey, the Pennsylvania Midland and the Mid­
Interest on debt...
250,052
250,000
250,000 land Connecting railroads. Stock, common, $13,000,000; preferred
(cumulative 6 per cent), $8.000,000. The amounts of stook were reduced
Total.
673,044
675,668
692,876 in 1882 from $20,000,000 com. and $10,000,000 pref. The New Jersey
Midland junior securities were exchangeable Into stook of this company
1,559,171
1,770,868
2,133,250
1,550,000
1,550,000
1,550,000 on certain terms, and the exchanges up to Jan. 1,1886, left $2,617,131 of tho old slock, income bonds and scrip not yet exchanged.
In Dec., 1886, new 5 per cent bonds were proposed, to exchange for
Balance................................
9,171
220,868
5^3,250
the first mortgage bonds and coupon scrip, and the exchange was gen­
—(V.J42, p. 59, 243, 575; V. 43, p, 163, 603; Y.44, p. 58, 212.)
N ew York. O n ta r io S W e s t e r n .— (See Hap) —
c
Owns from Oswego, erally accepted b r bondholders. (See V. 43, p. 746.)
Income acoount has been as follows:
.
Cornwall, N. Y., 273 miles; branches to New Berlin, 22 miles;
INCOME ACCOUNT.
o
i , l ’ 17 miles: to Ellenville,8 miles; total owned, 3Z0 m.les; leases
1884.
1885.
1886.
«andallsviUe to Utica, 32 miles, and Clinton to Rome, 12 miles. By con­
tract has right over West Shore RR. from Cornwall to Weehawken, 53 Gross earnings................................ $1,031,208 $1,092,355 $1,129,440
miles; total operated, 417 miles.
Net earnings.................................
$416,521
$474,835
$191,778
In May, 1886, made the agreement with the D. & H. Canal Co. for
Disbursements—
operation of the U. C. <s Bing, and the Rome & Clin, roads for 30 years Interest on bonds...»................................
S
$411,000
*$322,095
0 m Percentage basis.
a
Rental M. U. & W. G. Railroad...
25,000
25.000
Tins was the New York & Oswego Midland. Main line was opened Car trust obligations for yea r....
83,192 192,352
«Hr ’
default was made in 1873. The main line was sold in fore$519,192
Total disbursements..........................
$439,447
019 ,uf® Nov. 14,1879. Present company organized January 22,1880. Balance............................................. df.$102,671 sur.$35,iJ88
.8
cr the $4,000,000 of 6 per cent first mortgage bonds $2,000,000 were
* Half interest only paid on N. Y. Sus. & W. firsts and debentures.
retire the preferred stock, of which $73,000 was outstanding OotCar trusts matured were $117.552, of
1Q J ' u
Q
agreement with the new West Shore Co. in January, —(V. 43, p. 335, 368, 516, 672,746; V. 44, whioh $25,290 was deterred.
p. 22,149, 308.)
¿,,¿1
-°. N- Y. O. & W. took title to the road, Middleton to Cornwall,
N ew Y o r k Texas Sc M e x ic a n .-L in e projected from Rosenburg
«ua a right to run its trains over the West Shore from Cornwall to WeeJunction, Texas, to Brownsville, 350 miles. Completed Rosenberg to
uawkea by payment of a fixed sum per mile for trackage.
trrose earnings from Oct. 1 to Jan. 31 were $417,272 in 18; 6 7, Victoria, 92 miles. Stook, $814,800. Taere are also $75,500 6s yet
outstanding. In September, 1885, sold to So. Devel. Co. and is oper­
a-amst $o61,55l in 1885-6; net, $41,346, against $614.
nAtcooi TSSF eP dias 8ePt. 3 0 ,18s6. gross earnings were $1,492,851; ated by the So. Pacific. In 1886 gro s earnings were $153,858; net,
$9,006. (V. 42, p. 243; V. 43, p. 133, 163; Y. 44, p. 335, 344.)
p +?1*999. See annual report in Y. 43, p. 606.
*A.°,re quarter ending Deo. 31, gross earnings were $327,108, against
N ew Y o rk W o o d h a v en Sc R o c k a w a y .—Owns from Glendale
’ ne,tagainst $96,115; def. under charges, $3,832, Junction to Rockaway Beach. 10% miles; leased—Glendale Junction to
S W * surplus of $25,335 in 1885. (V. 42, p .93. 1 23, 125, 272, 304 Long Island City, 6 *3 miles; Fresh Pond to Bushwiok, 2*2 miles; Wood387, 394, 664; V. 43, p 6 0 6 . 619; V. 44, p. 212, 276, 308.)
haven to Brooklyn, 6% miles; total operated, 26% miles. The
mew Y o r lt P e n n s y lv a n ia Sc O h io .—Owns from Salamanca, stock is $1,000.000. In Nov., 1886, it was agreed to assess the stook 5
2« *• J? Dayton, O., 388 miles; branches—to Oil City, 34 miles; to per cent, income bonds 10 per cm*, and to inorea ¡e the mort. bonds to
>
Owl
2 miles; total owned, 424 miles. Leased lines— $1,000,0JO at 5 per cent, Foreclo <ure is to be made and new securities
br^t.AV.A^ori1011- ??-\ 81 m’ : Niles & New Lisbon RR., 36 m ; other small issued as follows: $1,000,000 1st mort. bonds, $1,000,0JO income
j un.
m-: total operated, 573 miles. Changed to standard gauge bonds and $1,000,000 stock. See Y. 41, p. 672. In 1884-o gross earn­
H I 880' Formerly Atlantio & Great Western Railway. Sold Ju?y ings were $153,244: net, $77,707; rentals, $43,103; balance, net in­
’ 871, and leased to Erie on May 1,1874, but lease not carried out come, $34,603, against $26,883 in 1834. In September, 1886, went
INCOME ACCOUNT.

Receipts—




1882-83.
$
3,568,653
382,277
3,204

1883-84.

1884-85.
$
3.288,946
987,231
23,473

1885-86.
$
3,863,994
1,243,389
35,411

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STOCKS AND BONDS.

75

Subscribers w ill confer a great favor by giving Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Miles Date Size, or
of
For explanation of column headings, Aco., see notes
of
Par
Road Bondi Value.
on first page of tables.

Norfolk < Western—( Continued)—Car trust..............
&

Convertible debent’res (red’ble on 30 days’ notice)
Norfolk < Petersburg—2d mort.............................
&
South Side—1st pref. con. M. (ext. in ’85 and ’86)
do
2d
do
guar. Petersb’rg
do
3d
do
..........................
Virginia A Tenn.—Enlarged mort. (extend’d in ’84)
c
do
do
4th mortgage.....................
North Carolina—Stock, common...............................
Preferred stock..........................................................
Mortgage bonds........................................................
North Pacific Coast— 1st and 2d mortgages.............
1st mort. North Pacific Coast Extension Co...........
North Pennsylvania-Stock, guar..............................
2d mortgage...............................................................
General mortgage bonds..........................................
Bonds secured by $1,200,000 stock.......................
Northeastern (S. 0.)—Stock........................................
1st mortgage.............................................................
2d mortgage..............................................................
Consol, mort., gold (for $1,836,000)........................
Northern (Cal.)— 1st mortgage ($6,300,000), gold..
San Pablo & Tulare—1st mort. ($3,750,000)........
Northern. N. H.—Stock................................................
Northern Central—Stock.............................................
1st mortgage, State (Maryland) loan.....................
2d mortgage, coupon...............................................
Consolidated mortgage, gold, coupon....................
Consolidated mortgage, gold, registered...............
Consol, gen. mort., gold, s. f., coup., £ or $ A A B
c
do
do
gold, coup. $C A cD ..........
do
do
clo
do"
E..................

Bonds—Princl.
INTEREST OR DIVIDENDS.
pal,When Due.
Amount „ Rate pei When
Where Payable, and by Stocks—Last
® Cent. Payabli
Whom.
Dividend.
Varia $ ....
2
M’nthlj
New York & Phila.
Various.
,
1884
500
»
6
J. A J Philadelphia Office.
c
Jan. 15,1894
81 1868
1,000
0
8
J. & J N. Y. and Philadelphia. July 1, 1893
133 1866
1,000
9 5„6 & 8 J. A J
c
do
do
1888 to 1900
133 1866 200 Ace.
) 5 A 6 J. A J
c
c
do
do
1888 to 1900.
133 1866 200 Acc.
)
6
J. A J
c
do
do
Jan.1/96-1900
214 1854
1,000
)
5
J. & J
do
do
July 1, 1900
214 1865
1,000
)
8
J. & J
do
do
Mch. 1, 1900
223
100
)
3
M. & 8. Company Shops, N. 0. Mar. 7,1886
223
100
)
3
M. A S.
do
do
Mar. 7,1886
223 ’67-’68
500
1
8
M. A N.
c
do
do
Nov., 1888
76 1881
•
6
M. A N.
Nov. 1, 1901
»
J. & J.
Jan. 2. 1889
88
50
2
Q.—F.
Philadelphia Offloe.
Feb. 25,1887
56
500 Aco.
7
M. A N.
do
do
May 1, 1896
... .
....
7
J. A J.
do
do
1903
1881
3
M. & S.
do
do
Sept. 1, 1905
140
50
6
In 1884-5
102 1869
500
M. & S.
8
Charleston, Offloe.
Sept. 1, 1899
102 1869
500
8
M. A 8.
c
do
do
Sept. 1. 1899
1883
1,000
c
6 g- J. A J. N. Y., John Paton A Co. Jan. 1, 1933
149 1877
1,000
6 g• T. A J. Central Paoiflo RR.
Jan. 1,1907
47 1878
1,000
6
A. A O.
do
do
April 1,1908
83
100
3,068,400
3
J. A D. Bost.,Cono’d or Leban’n Nov. 1, 1886
323
50
6.500.000
4
J. A J. Baltimore A Philadel. Jan. 15,1887
c
138
1.500.000
6
Q .-J .
Annapolis.
irredeemable.
138 1865 500 &G.
1.126.000
6 g. A. A O. Baltimore A Philadel. April 1, 1900
138 1868
1,000
2.599.000
6
J. A J.
Baltimore.
138 1868
1,000
205,000
6 g. A. A O.
do
138 L874-5 1,000
2.366.000
6 g. r. A J. London A Baltimore.
L876-7 1,000
2 ,000,000
6 g . , r. & j.l
Baltimore.
1 885
1,000
1.220.000
4>sg. 4. A O.
do

under Corbin management. J. D. Campbell, Secretary of committee,
N orth P en n sy lv an ia .—Owns from Philadelphia, Pa., to Bethle115 Broadway. (V. 43, p. 217, 245, 335, 672.)
|hem, Pa., 56 miles; branches—Jenkint’n to Dela. River, 20 miles; LanaNiagara B ridge A C anandaigua.—Owns from Canandaigua to dale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total
c
Suspension Bridge, N. Y., and branch, 100 miles. The road is leased in operated, 88 miles. The Northeast Penn, and the Stony Creek roads are
perpetuity to the New York Central & Hudson at $60,000 per annum, operated under contract. In May, 1879, was leased to Phila. A Reading
c
with right of lessee to commute by payment of a gross sum of $1,000,000. at 6® 7 p. c. on stock till 1883, and 8 per cent thereafter.
Norfolk Southern.—Formerly the Elizabeth City A Norfolk. Name « Northeastern (S. C.)—Owns from Charleston, 8. 0., to Florenoe
c
changed Feb. 1,1883. Owns from Norfolk, Va., to Edenton, N. C., 73 S. O., 102 males. Leased jointly, Lane, S. C., to Sumter, S. C., 33 miles
miles. Capital stock, $1,000,000. The holders of 1st mort. and deben­ Total operated, 140 miles. This company has earned the interest on its
ture bonds funded their interest for live years, Sept, and Oct., 1884, to bonds, with a good surplus. In Nov., 1882, the above consol, mortgage
March and April, 1889, respectively. Gross earnings in 1885, $206,- was authorized, of which $1,142,000 to be held to retire debts of prior
310: net, $71,165; surplus over all payments, $6,953.
lien. In 1883-84 gross earnings were $569,470; net, $164,946: in 1884-5
Norfolk Ac W e ste rn .—(See Map.)— Owns from Norfolk, Va.,to Pe­ OTOss, ^70^058: net, $162,819Mn^ 1885-86, gross, $558,633; net, $121,
tersburg, Va., 81 miles; Petersbuvs- va., to Lynchburg, Va. 123 miles,
,
Lynchburg, Va., to Bristol, 204 miles; branches—Petersb’g to Citv Point,
N orthern (California).—Owns
Va., 1 0 miles; Junction to Saltville, Va.. 10 miles; New River Division, miles: Benicia to Suisun, 16 miles; from West Oakland to Martinez. 31•
Woodland to Tehama. 101 miles
75 miles; ooal mine branches, 8 miles; Cripple Creek extension, 23 leased, San Pablo & Tulare RR.—Martinez to Tracy City, 47 miles*
miles; total operated Deo. 31,1886, 533 miles.
total operated,. 195 miles. Completed in 1878 and is leased to the
The Atlantio Mississippi A Ohio RR. Co. was a consolidation of Nor­ Central Pacific till Jan. 1,1907, at a rental of $40,000 per month and
c
folk A Petersburg, South Side and the Virginia & Tennessee roads, in all guar, of principal and interest of bonds for Northern; and San Pablo
of which the State of Virginia had an interest for loans made to them. T. leased till 1908 for $13,800 per month and guar, of prino. and ink of
Default on the Atlantio Mississippi A Ohio consolidated Donds was made bonds. In 1881 8 per cent dividend paid; in 1882. 1 % ; in 1883. 3*«
October 1,1873, and the road was sold in foreclosure Feb. 10, 1881, The Northern stock is $6,190,500—authorized, $8,400,000, and San P
and was reorganized as the Norfolk & Western. Of the general mort­ A T. stock $1,861,000. W. V. Huntington, President. San Franoisco.
c
gage, enough is reserved to take up prior liens. The dividends on
N orthern, N ew H a m p sh ire.—Owns from Concord, N. H., to West
preferred stock were suspended in 1883 to pay off floating debt.
Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristol, N. H. 13
In January, 1884, the convertible debenture bonds were issued for taking
c
up the scrip of $525,000 issued for dividend on pref. stock. In miles; total, 83 miles. Leased to Boston A Lowell at 5 per oent'oer
Oct., 1884, the adjustment mortgage for $1,500,000 was issued to fund year on stock. In Maroh. 1887, the Supreme Court of New Hampshire
floating debt, and is redeemable after 1894 at J10. The annual report held the lease to be invalid. In 1885-6, net income from rental and in­
terest account was $202,572; dividends of 6 per cent, $179,838. The
for 1885 was in V. 42, p. 516.
Gross earnings for one month from Jan. 1, 1887, were $279,305, only liabilities are a guaranty of $500,000 Concord A Claremont R ail­
road bonds, of wliioh the Northern RR. owns $250,000. (V. 42 » 694
against $218,007 in 1886; net, $102,185, against $77,667.
7 5 2 ; V. 43, p. 184; V. 44, p. 370.)
’
'
’
'
t In 1886 gross earnmgs were $3,252,058; net, $2,771,121.
The earnings and expenses for four years were:
Northern C entral.—Owns from Baltimore, Md., to Sunbury Pa.
139 mlies; branch—
Reiay to Green Spring, 9 miles; leased—ShamoMn
1882.
1883.
1884.
1885.
Valley A Pcttsville RR., 28 miles; Elmira A Williamsport Railroad, 78
c
Miles ow’d A oper’d.
c
428
503
503
510
miles; operated at cost—Chemung Railroad, 22 miles; Elmira Jefferson
Operations—
& Canandaigua R R , 47 miles—315 miles; track of New York
Erie A
Passengers carried..
263,347
307,927
412,452
388,087 Western used
This was a consolida­
Passenger mileage.. 14,915,267 16,285,288 19,213,251 19,151,534 tion of several7 miles; total operated, 323 miles. the several leases will
roads in Deo., 1854. The terms of
Rate per pass. perm. 3*858 cts.
3*815 cts. 3*362 cts.
3*027 cts. be found under the names of the leased roads. In February, 1882, pur­
___ _______
____ _ _
797 255
Freight (tons) moved
609,727
892,512 1,199,790 chased at par the stock of Union Railroad in Baltimore, $600*000.
Freight (tons') mil’ge 133,957,973 155,521,709 171,773.275 295,788.872 practically making that road a part of the Northern Central property,
Kate per ton perm ..
* *’ "*
■
------- •
—
1*384 cts.
1*409 cts.
1*202 cts.
0*741 cts subject to its mortgages. The consolidated general mortgage (gold) of
Earnings—
1874 was for $10,000,000 to retire all prior bonds. Of the above bonds
$
$
$
$
Passenger................
442,301
485,805
521,192
458,445 $2,366,000 are sterling or dollar, interest payable in London or Balti­
Freight.....................
1,842,383
more, and the balance are dollar bonds, interest in Baltimore.
2,181,711
2,025,087
2,138,120
Mail, express, &e___
145,055
Gross earnings for one month from Jan. 1 to Jan. 31 were $514.947
145,260
164,875
174,555
in 1887, against $400,123 in 1886; net, $230,224, against $144,289.
Total gross earn’s.
2,429,740 2,812,776 2,711,154
The business of the company depends to a considerable extent on
2,771.120
Operating expenses.
1,322,576
1,509,574 1,516,858
1,649,219 ooal traflio. The flsoal year ends December 31, and the report for
1886 was in the Chronicle , V. 44, p. 273.
Net earnings........
1,107,164 1,303,202
Income account for four years was as follow s:
1,194,296
1,121,829
P.o. of op. ex. to earn
54*4
53*7
INCOME ACCOUNT.
55*9
60*0
1883.
INCOMB ACCOUNT.
1884.
1885.
1886.
Receipts—
$
$
1882.
1883.
$
1884.
1885.
Gross earnings........ 6,088,130
5.521,876
Receipts—
5,490,923
5,474,617
Net e._______...........
Net earnings............. 2,256,525
1,107,163 1,303,202 1,194,296 1,121,829
2,053,482
»2,235,309
1,931,949
Other receipts"
Other reoeipts...........
246,843
63,389
263,829
254,070
277,348
Total income........ 2,503,368
2,317,311
2,489.37» 2,209,297
Total inoome....
1,170,552
1,303,202
1,194,296 1,121,829
Disbursements—
$
$
Disbursements—
„
$
Rentals l’s’d lines, Ace*
557,313
461,761
442,203
446 997
810,792
..........................................729,359
953,436 1,13^991 Interest on debit......
881,180
935,014
931,272
903,041
525,000
Dividends..................
520,000
520,000
520,000
520,000
« S ffis :;;;;;600'000
55,699 Rate of dividend.......
8
8
8
8
Miscellaneous...........
41,130
46,511
53,690
44,775
Total disbursem’ts. 1,329,359
1,335,792
953,436 1 ,1 9 5 ,69 0
Tot. disbursements. 1,999,623
1,963,286
1,947,165
1,914,813
Balance*...................def. 158,807 def.32,590 sur.240,860 def. 73,861
Balance, surplus...
503,745
354,025
542,214
294,484
>J«?ieilc<iumalated surplus Deo. 31, ’84, was $580,052; charged off on
* Includes rent of roads and interest on equip, t Includes oar trusts.
d pr^ i ^ n^ ln Invest* 1 1 Slien* Val. RR. and Roanoke
^
1
eJYorts* $300.000; for extraordinary expenses, &c., $133,185: -(V . 42, p. 156, 2 4 0 , 272, 387, 549, 664, 783; V. 43, p. 132, 245, 368.
lor deficit in 1885, $73,861; leaving surplus Deo. 31,1885, $73,006.
*16, 635, 774; V. 44 p. 83,149, 2 7 3 , 276.)
J J * 4,2:
187’ 207’ 304* 4 3 l> 51 6 , 549, 664, 728; V. 43. p. 23,
N orthern o f N ew Jersey.—Owns from Bergen, N. J., to Spar132, 274, 399, 516, 635, 672, 718; V. 44, p. 22,149, 212, 309, 335.1
till, N. Y , 21 miles; leased Sparkill to Nyack, 5 miles; total oper­
*vh!ortl1 Carolina.—Owns from Goldsboro to Charlotte, N. C., 223 m ated, 26 miles. This road was opened October 1, 1859. By contract
¿ “ f, P^JPjrty was leased Sept. 11, 1871. to the Richmond & Danville of April, 1869, it is operated by New York Lake Erie & Western at 35 per
“
wmosd for 30 years at a rental of $260,000 per year. Dividends of 6 cent of its gross earnings. It is understood the contract is terminable
teiwSPiUX® pai . ou ^ e stock, of which the State of North Carolina holds by either party on notice. Dividends are paid as earned on the rental.
w hf?’ *•’ 811,1 tbe dividends thus received by the State are applied to Gross receipts in 1885-6 $322,216; net deficit for year after payment of
*97 q^ ,« 8 188Ued to the North Carolina RR. Rental, Aco., in 1885-86, charges, sinking fund and dividends, $262. Gross in 1885, $317,458 •
»273,729; expenses, $24,322; balance, $249,407.
surplus over interest, dividends, &c.. $12,303. (V. 44, p. 118.)
,
Pacific Coast.—Owns from Saucelito to Moscow Miiia, Cal..
N o r t h e r n P a c if ic .—(See Map.)— L ine of R oad —On June 30.1886
Oiimvh«8a brancl1 to San Rafael, 2 miles; leased, San Rafael to San the mileage was made up as follows: Main line—Ashland, Wis., to Wal
4 !, ilesL an,d Pnnoan’s Mills to Ingram, 7 miles; total oper- lula Junction, Oregon, 1,739 miles; Duluth to Northern Pacific Junction.
m
$5499(f mUe8‘ 8tock» $2,500,000. Earnings in 1885, $289.557; net. 23 miles; Portland to Eagle Gorge, 192 miles; South Prairie branch, 10
miles; Pasco junction to Ellensburg, 127 miles; Payallup Junction to




LN VESTORS’

76

SUPPLEMENT.

[V ol . XLIY,

Im m ediate notice o f any error discovered ln these Tablee.
Bonds— Prinoi
INTEREST OR DIVIDENDS.
pal,When Due.
Miles Date Size, ot
Par
r Amount Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes of
Dividend.
whom.
Cent. Payable
Road. Bonds i Value. ^
on first page of tables.
DESCRIPTION

Northern Central—-( Continued) —

2d general mort., “ A.” coupon (sinking fund) . . . . 138
do
“ B,” coupon........ -...................... 138
Union KB., 1st mortgage (assumed)............. - —
do
2d mortgage (assumed)..................
26
Northern of NewJersey—Stock. . . i . ...........................
21
1st mortgage, extended..........................................
21
2d mortgage..................... --•-..............-.......
Northern Pacific—Pref. stock(8 p. c., not cum tive). 2,365
2,365
Common stock.............................. ...........................
205
1st Mort. and land grant bonds, Missouri D iv...
225
1st Mort and land gr. bonds, Pend d’ Oreille Div
2
Cons. 1st M. Id. g., gold. $25,000 p. m., cp. or reg | ,< 60
All
do
2d m., go d, land grant, coup. & reg
Dividend certificates.....................................- ........
64
Jas. Riv. Val. KR. 1st mort., cold, guar , s. f .......
43
Spokane & Palouse, 1st M., sink. fd.. gold, guar .
Northern. Pac. Ter.Co.—1st M., g. ($5,000,0001 cp.
79
Northwestern Ohio—Stock
................. . . . . . . . .
Norwtch A W
orcester—S tock ................................... 1 66
66
Bonds, coupon.............................--- -- - ...................
122
Cadensburg A Lake Champlain— Stock, common
Sinking fund bonds..................................................
Ï18
Mortgage nonds (redeemable July, 1890)............
118
Consolidated mortgage (for $3,500,000).............
Income bonds, not cumulative..............................
616
Ohio A Mississippir-Stock, common........................
Preferred stock (7 p. e. yearly, cumulative)........
« 24
1st general mortgage (for $16,000,000).............
393
1st consoPdated mort. ($3,445,000 are s. f.) —
393
Consolidated mortgage, sterling..........................

Baltimore.
J. 4 J
5
do
J. & J.
5
do
J. & J
6
6 g. M. & N London & Baltimore.
New York Office.
J. & J.
4
.1. & J. J. City, Hudson Co. B’k.
6
do
do
M. & S.
7
200,000
37,921,863 llUiocert
49.000.
000
Y., Mills Building,
M. & N
6
2.136.000
do
do
M7& S
6
2.949.000
do
do
J. & J
46,129,000
6 g.
do
do
20 .000 .
000 6 g. A. & O
do
do
4,640,821
do
do
6 g. J. & J.
963.000
M. & N. N. Y., No. Pacific RR..
6
688.000
3.000.
000 6 g. J. & J. N.Y., Winslow, L. & Co
... .
2.000.
000
J. & J. Boston, 2d National Bk.
T
100
2,604,400
M. & 8. Boston, N. E. Trust Co.
6
1,000
400.000
1877
Boston, Office.
J. & J.
2
100
3.077.000
do
M. & S.
8
1,000
380.000
1870
do
J. & J.
6
1,000
600.000
1877
do
A. & O.
6
2,529,650
1880 500 &c.
do
A. & O.
*6
999,750
1880 100 &c.
100 20, 000,000
M. & S. N. Y., Union Trust Co.
100
4.030.000
T *
do
do
J. & D.
5
1,000
3,216,COO
1 1882
do
do
J. & J.
7
1,000
6.501.000
1 1868
London.
J. & J.
£200 1
112,000
6 g.
1868
1876 1$1,000
1876 1 1,000
500 &c
500 &e
100
1878 100 &c.
1869 100 &c.
100
100
1879 500 &c.
1,0)0
1879
1881 l.OOO&c
1883 l.OOO&o
1883
1,000
1886
1,000
1886
1,000
1883

Lok
Stuc Junction, 7 miles; Duluth to Superior, 7 miles; total owned, 2,105
es.
miles. Leased—Brainerd to St. Paul and branches, 148 nfiles; Lottie
Ils & Dakota RR., 88 miles; Northern Pacific hergus & Black Hills
FaU?
F argo* Southwestern RR., 87 miles; San. Coop. & Tur­
tle Mount. HR.. 36 miles; Jamestown & Northern RR., 87 miles; Sykestown Branch RR., 13 miles; Rocky Mount RR. of Montana, 52 miles;
Helena & Jefferson Co. RR., 20 miles; James River Valley RR.,49 miles,
total leased, 695 miles; total owned and leased. 2,807 miles. Thompson
Juno., Minn., to Duluth is owned jointly with the St. Paul & Duluth.
Organizatio n .—This company was chartered by act of Congress July
2 1864, to build from Lake Superior to Puget Sound and Portland, Or.
file land grant was 20 sections per mile In States and40sections in
Territories. The road was opened 450 miles west from Dmuth—to Bis­
marck, on the Missouri R iver-in 1873. The company defaulted Jan.,
1874. and the road was foreclosed August 12,1875, and reorganized by
the bondholders’ oommittee Sept. 29, 1875. New preferred stock was
Issued at the rate of $1,400 for eaoh $1,000 bond and overdue interest.
Stocks and Bonds.—The preferred stock (issued for old bonds) has a
reference for 8 per cent in each year if earned, but is not cumulative.
he common stock then takes 8 per cent, and after that both share alike.
The preferred stock claim on net income is only subject to expendit ires
for new equipment. The preferred stock is received in_ payment
for the company’s lands east of the Missouri River at par and the pro
eeeds of the lands sold go to the retirement of preferred stock.
A large interest in the stock ($5,683,000 pref. and $ 7,92o,100 of
com. in April, 1886,) was held by the “ Ore. & Trans-Continental Co.
In Sept., 1882, a dividend, in certificates of llH o per cent, amounting
» $4,667,490. was declared on the pref. stock payable Jan. 15,1883.
- preferred stock since'79 have been: In 80,
: in

P

$2,785,000
1,000,000
900.000
600.000
1,000,000
168,000

Mar.
June
Jan.
Jan.

1,
1,
1,
1.

1876
1932
1898
1898

1884-85.
$
5,037,848
24,553
147,359
21,310

1885-86.
$
5,574,263
13,938
243,319
52,578

Net earnings............
Adjustm’ t of aco’ts & inf. b a l..
Dividends on investments.......
General interest a ccou nt..... ..

1883-84.
$
5,425,820
39,898
38,973
............

Total.....................................

5,504,691

5,231,070

5,890,098

3,535,038
412,401
-----3,931
318,284
179,381
............

4,123,949
581,144
352,154
50,376

4,339,094
670,748
673,850
55,633

4,147
27,341

39,7"4

Disbursements—

Interest on funded debt .. . .......
Rentals...............
Guarantee to branch roads......
Contributions to sinking fund .
Balance general interest acc’t..
Opening celebration..................
Mliscellaneous.............................

...........
4,419,035
5,139,111
5,778,899
Total
Balano“, surplus.......................
1,055,656
91.959
111,199
—(V. 42, p. 3.
532, 549, 632.
256, 275, 3 3 3 , ____
60, 90, 149, 162, 185, 212, 309.)
Northern Pacific T erm in al Co,—This company owns terminal
facilities on the Willamette River, Oregon, at Portland, East Portland
and Albina. Thev are leased for fifty years, jointly and severally, to
the Northern Pacific RR.. the Oregon R ailw ay* Navigation Co. and the
Oregon & California RR., with a guaranteed rental sufficient to pay
interest, sinking fund and taxes. The sinking fund begins i n 1893 and
is to be sufficient to retire the bonds by maturity, whioh bonds may be
drawn at 110 and interest. The stock of $3,000,000 is owned by said
three companies (40 per cent by Ore. Railway & Navigation Co., 40 per
cent by Northern Pacific and 20 per cent by Oregon & California RR.),
and held by Central Trust Co. of New York, to be delivered after pay­
ments to the sinking fund whioh is to cancel the bonds. (V. 42, p. 207,
243; V. 43, p. 49.)
N orthw estern O h io.—Owns from Toledo Junction to Toledo, O ,
80 miles, and leases 7 miles, from Mansfield to Toledo Junction. This
was a consolidation of the Toledo Tiffin & Eastern, the Mansfield Coldwater & Lake Michigan and the Toledo & Woodville roads. Leased to
Pennsylvania Company at cost of operating. In 1884 gross earnings
$270,799; net, $30,628. In 1885 gross earnings, $269,510; net, $75,067.

land (embracing all lands in Dakota east of the M ssouri River) at $2
ner acre, pay able in preferred stook.
_____ __ _
.
Gross earnings July 1 to Jan. 31 were $7,913,716 in 1886-7, against
am r\r r
to r
1 oor d .
0 A AQ
?/f 1 /l o nruhlat: iR fY I .033. Thft tisc&l
Q 7

Miles operate? June 30.............
Namings—
Passenger...................................
Freight.....................................- Mail, express, & c .....................

1883-84.
2,547
$
4,237,259
7,865,367
500,949

1884-85.
2,668
$
3,075,882
7,446,266
712,001

1885-86.
2,808
$
2,697,218
8,189,614
643,695

T o t a l.................................
Operating expenses..................

12,603,575
7,177¿755

11,234,149
6,196,301

11,730,527
6,156,264

Net earnings............................ -

5,425,820

5,037,848

5,574,263




Jan. 10, 1887
March 1, 1897
July 10,1876
Mar., 1890
1897
April 1, 1920
April, 1920

INCOME ACCOUNT.

»87 to Mar, 19, 26*6 » 2 8 1 —
«.
.
The consol, first mortgage bonds are a first lien on the main Une; and
on all the lands of the company except those subject to the two divisional
mortgages and those lands east of the Missouri River which are subject to
the preferred stook. The issue of bonds is limited to $25,000 per mile
The proceeds of land sales can be applied to the payment of interest on
bonds, instead of principal, if the earnings of the road are insufficient.
bon
Central Trust Co. of N. Y. is trustee. The bonds
received in pa^yment for lands at 110 and interest, and proceeds of land sold must be
applied to redemption of these bonds at a price not exceeding 110 and
interest. Sinking fund of one per cent per annum of the total aino nt
of bonds issued began in 1886, and the bonds may be drawn and called
in at 110, one-half in January an l one half in Ju y. The total
issue of the Missouri Division (Bismarck on Mo. Riv. to Yellowstone
Riv. 205 miles) and Pend d’Oreille Division (Junction of Snake and
Columbia rivers to Lake Pend d’Oreille 225 miles) bonds was $6,480,300. against wliioh are reserved a like amount of the Northern
Pacific first mortgage bonds; the proceeds of land sales are applied to
redemption of these divisional be nds at par,
The James River Valley bonds are on the road from Jamestown, Dak.,
on the Northern Pacific south to La Moure, 49 miles, where a junction
is made with the Fargo & Southwestern; the road is leased to Northern
Pacific for 999 years, and the bouds are guaranteed. The bonds are re­
deemable at 105 after 1896. The Spokane & Palouse RR. extends £om
Marshall on the main line to Belmont, 43 mi es. It is leased to the N. P.
for 999 years, the N. P. paying the interest and sinking fund re­
quirements as rental The bonds are issued at $16,000 per mile, and are
redeemable at 105 after 1896.
■ _•
.
.
.
Other r< ads leased .and g laranterd sufficient earnings to pay interest,
are named under Oregon Trans Continental.
L ands.—The land grant of the company was 12,800 acres per mile in
States and 25,600 acres per mile in territories, and the lands earned by
construction to June 30, 1886, were estimated to be about 44,8 b4,000
acres, of which about 39,031,876 remained unsold. The lands
east of Bismarck (Minn, and Dak. Divs.) are pledged to the pre­
ferred stock, and that stock is reoeived in payment therefor, ihe

*37p. 333, and had the following

Jan. 1, 1926
Jan. 1. 1926
Jan. 1, 1895
May 1, 1900
In 1886
July. 1888
March. 1889
Jan. 15, 1883
Dec. 1,1933
May 1, 1919
Sept. 1, 1919
Jan. 1, 1921
Dee. 1,1933
Jan. 1, 1888
Jan. 1, 1936
May 1, 1936
Jan. 1, 1933

N orw ich & W o rcester.—Owns from Norwich, Conn., to Wor­
cester, Mass., 59 miles; branch: Norwich to Allyn’ s Point, 7 miles;
total, 66 miles. Operated under temporary lease by N. Y. & New Eng­
land Railroad. In February, 1885, it was voted to reduce the rental
to 8 per cent. In the fiscal year ending Sept. 30,1886, the gross receipts
were $748,659; net, $274,377; payments for rentals, $40,475; interest
$24,157; dividends, $207,824; surplus, $21,921. (V. 43, n. 607.)
©ffdensburg & Lake C h am p lain .—Owns from Rouse’s Point,
N. Y. to Ogdensburg, N. Y., and branch to Maquam, Vt., 130 miles.
On June 1,1886, a perpetual lease of this road was made to the Central
37,911,
____ t .
rplus Over
fixed charges', $19,895, against «23,538. Gross earnings 1885-6. $562,
772- net, $223,415; surplus over interest charge, $12,362. In 1884-8»
gross earnings were $616,815; net, $218,275. (V. 42, p. 22, 387, 753;
V. 43, p. 22, 580, 719 ; V. 44, p. 212.)
O h io & M i s s i s s i p p i . — (See Map of Baltimore A Ohio.) -Owns from
Cincinnati, Ohio, to East St, Louis, 111.. 338 miles; Louisville branch,
North Vernon to Jeffersonville, Ind., 53 miles; total Ohio & Miss. Lne,
391 miles; the Springfield Division, Beardstown to Shawneetown, at,
225 miles ; total operated, 616 miles. The Eastern and Western divis­
ions were sold in foreclosure and the Ohio & Mississippi Co. formed oy
consolidation Nov. 21,1867.
,
. „
On Nov. 17,1876, the company was placed in the hands ot a receiver.
The receiver was disohirged in April, 1884.
_____ „ „ „ „ ,
Gro*s earnings from July 1 to Jan. 31 were $2,392,330 in 1886-7,
avaiiirt $2,215,379 in 1885-6; net, $811,954, against $711,105.
The annual report for year ending June 30, 1886, was in the C h r o n ­
i c l e of Oct. 30,1886.
1885-6.
1884-5.
$3,671,920
$3.645,467
Total gross eara
$2,597,708
$2,670,736
Operating expci
$1,074,212
$974,731
Net earnings........
Disb ursements—
$1,026,415
$1,024,900
Interest on debt...
53,000
49,000
Sinking fu n d ........
$1,079,415
$1,073,900
$5,203
$99,169
Deficit.

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MAP OF THE

» « C ity

NORTHERN PACIFIC
I if\ ?
RAILROAD,
x%2
fc
i

Lenora.

Leadvi^^fw
0
LÄO.
^jrunnisoma
IlÌ '

Stocktono

iso!*-----vPAQ.
&

'U

I T S B R A N C H E S & A I X I E D E IN E S .

an Job

^*1** Railroad*projected or in oroorea* .............. ..........

Salina)

Kit Carson?
\Pueblo
^La J u n ta ]

JE F F E R S O N
C IT Y

■ rk n a
^ a^s

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O

>Éi Moro

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_

„

N

78

IN V E S T O R S ’

[Y ou XLTV.

SUPPLEM ENT.

Subscribers w ill confer a great favor by giving im m ediate notice o f any error discovered In these Tables.
Bond»—Princi­
INTEREST OR DIVIDENDS.
|
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stocks— Last
of
For explanation of column headings, &c., see notes of
whom.
Dividend.
Cent. Payable
Road. Bonds Value.
on first page of tables.

Ohio A Mississippi—(Continued)—

2d consolidated sinking fund mortgage................
Spring. Div. (Sp.&Ill. S.E.) IstM. (for $3,000,000)
Ohio Southern— 1st mort. ($15,000 per mile)............
2d mort., income ($15,000 per mile).......................
Old, Colony—Stook...................................... ........ .
Bonds (not mortgage) coupon and registered.......
Bonds
do
do
do
.......
Bonds
do
do
do
.......
Bonds
do
do
do
.......
Bonds
do
do
do
.......
Bonds for Framingham & Lowell bond s...............
Bonds of 1884...........................................................
Bost. Clin. F.&N. B., mortgage bonds 1869-70...
do
bonds.......................................
do
mortgage bonds.................
Oregon A California—1st M., gold ($20,000 p.m .)..
2d mortgage, $10,000 per mile...............................
Oregon Pacific— 1st mort., land grant, gold.............
Oregon Railway A Navigation—Stock.......................
Mortgage bonds, gold........................... ..................
Consol, mortgage, gold, $25,000 per mile.............
OregonShortL.— lst,gld.,int.gu.by U. P. ($25,000p .m)
OregonA Trans- Continental— St’ ck(for $50,000,000)
Trust bonds, gold (IstM. collateral) $20,000p.m..
Oswego A Rome—1st mortgage guaranteed.............
Income mortgage bonds.........................................
Convertible bonds ...................................................
Oswego A Syracuse—Stock, 9 per cent guar.............
Consol, mortgage (guar. D. L. & W.)......................
Construction M., guar. prin. &int. (for $1,000,000)

393
222

132
132
469

43
58

120

451
451

706
706
610
497
35

1871
1874
1881
1881
1874
1875
1876
1877
1882
1884
1884
’69-’70
1874
1880
1881
1883
1880
1879
1885
1882
1882
1865
1866
1866
1876
1883

$1,000 $3,715,000
1,000
2,009,000
1,000
2,100,000
1,000
2,100,000
100 11,157,200
1,000
1,692,000
1,000
500,000
1,000
1,100,000
1,000
2,000,000
1,000
200,000
1,000
498,000
1,000
750,000
500 &c.
491,500
1,000
400,000
1,000
1,970,000
1,000
9,020,000
1,000
2,610,000
1.000 25,000 p.m.
100 24,000,000
1,000
5.690,000
1,000
9,155,000
1,000 14,931,000
100 40,000,000
1,000 10,063,000
1,000
350,000
1,000
200,000
107,000
50
1.320,400
1,000
438.000
668,000

The new general mortgage for $16,000,000 was authorized under
the plan o f reorganization, by which $12,784,000 was reserved
to exchange for old bonds as they mature; $2,216,000 used in
paying overdue coupons and all other claims; and $999,695 expended
lor new equipment and terminal facilities. The terms of preference
of the preferred stock state that the holder thereof shall be entitled
to receive from net earnings of the company 7 per cent per annum,
and to have such interest paid in full for each and every year before any
payment of dividend upon the common stock.
Gross earnings Jan. 1 to Sept. 30 were $2,837.513, against $2,699,147; net, $826,017. against $727,706. (V. 42. p. 6 '. 187, 304, 387, 431,
575, 694; V. 43, p. 73, 162, 275, 368, 459, 487, 5 1 4 , 548; V. 44, p. 60,
185, 309.)
Ohio Southern.—The road will extend from Springfield, Ohio
to some point on the Ohio River. Length of road completed and in
operation Dec., 1886. Springfield, Ohio, to Wellston, with extensions
and branches, 148 miles. Stock (par $100), $3,840,000. Gross earn­
ings in 1884, $473,001; net, $141,314; interest paid, $116,100.
Gross in 1885, $468,558, net, $173,182; interest on debt, $126,377;
surplus for year, $46,622, Alfred Sully, President.
O ld C olony (M ass.)—Owns from Boston to Provlneetown, Mass.
120 miles, and lines to Kingston, Plymouth, Somerset Junction, New
Bedford, Lowell and Fitchburg, Mass., and to Newport, R. I.; total,
869 miles; numerous branches, 85 miles in all; leased—Fall River
Railroad, 12 miles; Dorchester & Milton Railroad, 3 miles; total
length of all lines, 469 miles. Fall River Railroad was leased April
1,1882, for 99 years. In March, 1883, consolidation with the Boston
Clinton Fitchburg & New Bedford was made and an increase of stock to
$12,000,000 was voted. In May, 1884, the Lowell & Framingham was
absorbed on the terms given in V. 38, p. 540, and the 4 * per cent bonds
of 1884 were issued. The annual report for 1885-86 was in V. 43, p.
$46, and bad the following:
INCOME ACCOUNT

7
7
6
6
3*
7
6
6
6
4*
4*
4
7
7
5
6 g.
7
6 g.
1*
6 g.
5 g.
6
1*
6 g7
7
7
4*
7
5

A. & O. N. Y. Union Trust Co.
do
do
M. & N.
J. & D. N.Y., Corbin Bank’g Co.
do
J. & D.
Boston, Office.
J. & J.
do
M. & 8.
do
J. & D.
do
M. & 8.
do
F. & A.
do
J. & D.
do
do
do
J. & J.
do
J. & D.
J. & J. Boston, N. E. Trust Co.
J. & J. Last paid June, 1884.
A. & O. Last paid Oct., 1884.
A. & O. New York and London.
Q.—F. N.Y., Farm. L. & Tr. Co.
do
do
J. & J.
New York Agency.
J. & D.
F. & A. N. Y. Union Trust Co.
Q.—J.
M. & N. N.Y. .Farmers’ L. & T.Co.
M. & N. N.Y.,Farmers’ L.&T.Co.
F. & A. N. Y., Central Trust Co...............
F. & A. N. Y., Del., L. & W. RR.
do
do
M. & S.
m .;& N.

April. 1911
Nov. 1, 1905
June 1, 1921
June 1, 1921
Jan. 1, 1887
March 1,1894
June 1,1895
Sept. 1, 1896
Aug. 1. 1897
Dec. 1, 1897
1904
1904
1889 & ’90
July 1, 1894
Jan. 1, 1910
July 1, 1921
April 1, 1933
Oct. 1, 1900
April 1,1887
July 1, 1909
J u a e1,1925
Feb. 1, 1922
Oct. 15, 1883
May 1, 1922
May, 1915
1 eb., 1891
2866
FeD., 1887
1907
May, 1923

money for improvements, and in a few years the amount was raised
from $6,000,000 to $24,000,000. In June, 1885, the consol, mortg. was
made at the rate of $25,000 per mile and $6,000,000 reserved to take
up the old mort. bonds. There is a sinking fund of over $60,000 per
year, and if the tiustees cannot buy bonds at 110 they must draw them
at par eaoh year. The Farmers’ Loan & Trust Co. is the trustee.
In March, 1881, a majority of the stock of this company was trans­
ferred to the Oregon Trans-Continental Company, and by latest accounts
that Company held 139,413 shares.
In Nov., 1886, a lease to the Oregon Short LlneRR., guaranteed by
Union Pacific, was agreed to, on the basis, as reported, of 6 per cent per
annum on the O. R. < N. Co.’s stock. An exhaustive report on the O. R.
fe
& Nav. Co. was published in the Chronicle, V. 44, p. 141.
From July 1 to Jan. 31 gross earnings were $3,288,598 in 1886-87,
against $3, 149,846 in 1885-86; net, $1,482,856, against $1,641,667.
The annual report for the year ending June 30. 1886, was in the
Chronicle, V. 43, p. 594, 606. The income account was as follow s:
INCOME ACCOUNT.

1882-83.
$
Gross earnings....... 5,100,512
Net earnings........... 2,394,046
Gross receipts........
95,167

1833-84.
$
5,361,906
2,393,450
301,444

18 84-85.
$
4,082,118
1,482,760
138,903

1885-86.
$
5,546,542
2,460,046
5,226

Total in com e..... 2,489,213
Disbursements—
Rentals paid..........
145,429
Interest on debt___
444,270
Dividends.............. 1,584,003
Rate of dividend...
(9)
Mis. and sink. fund..
79,230

2,694,894

1,621,663

2,465,272

354,180
440,160
1,800,000
(71«)
79,855

124,087
529,165
1,080,000
(t * )
119,091

1,731
750,289
1,560,000
(6*1
111,273

2,674,195
1,852,3 i3
2,423,203
Total disb’ments. 2,252,929
1883-84.
1884-95.
1885-86.
t20,699 Def. 230,680 JSur.41,979
Balance, surplus... *226,284
$
$
$
Gross earnings........
4,191,872 4,251,186 4,528,032
*Addiog bonds retired by sinking fu n i during the year makes surplus
Net earnings..........
l.COÖ.öOS 1,281,056 1,302,929 $63,000 larger than here given, t Deducting $91,000 for depreciation
Other receipts.... ..
68,998
79,334
89,931 of steamers leaves a deficit for the year of $70,300. J52,106 was spent
for betterments, etc., leavi g a deficit of $10,132.
Total incom e....
1,303,117 1,365,501
1,360,390
1,392.860 —(V. 49. p. 61,137, 783; V. 43, p. 132, 191, 238, 399, 459, 543,594,
6 0 6 , 608, 635, 672, 719; V. 44, p. 60, 91, 141, 204, 212, 276, 309.)
Disbursements—
$
$
$
$
Rentals paid...........
191,001
46,614
45,594
32,694
Oregon Short L in e.—Road from Granger on the Union Paoiflo
Interest on deb t.....
446,476
556,866
551,424
582,531
Dividends.................
eO-a.OOS
723,989
738,122
761,747 (156 miles east of Ogden) to a junction with the railroad of the Oregon
Railway & Navigation Co., at Huntington, Oregon, 540 miles, with Wood
Rate of dividend . . .
7
7
7
7
Improvem’t account
57,634
38,032
25,250
15,885 River branch to Ketchum, 70 miles. Total 609 miles. The connec­
tion through was made in November, 1884. Built under Union Paoiflo
Total disburse’ts 1,303,117 1,365,501
1,360,390 1,392,860 control, and interest on the bonds guaranteed. The stock is $14,073,600.
Union Pacific owns a majority of the stock and $2,195,000 bonds.
—(V. 43, p. 546.)
Gross earnings in 1886, $1,942,107; net, $594,686; taxes, «fee., $87,Oregon Sc C aliforn ia.—From Portland, Or., to Ashland, 341 310; balance, $507,376. For 1885 gross earnings were $1,833,190,
against $1,059,200 in 1884; net, $557,959, against $288,640 in 1884.
miles; Albany Junction to Lebanon, 12 miles; West Side Division, Port­
land to Corvallis, 97 miles. Total finished, 451 miles; to be completed (V. 42, p. 156. 272, 304. 387, 575, 664; V. 43, p. 103, 217, 368, 516,
to a junction with Central Pacific at the California State line, the gap 635, 774; V. 44, p. 149, 185, 309.)
to be finished on this road being 28 miles. The present Oregon & Cali­
.
Oregon S T ran s-C on tin en tal.—Company organized under the
c
fornia RR. is a reorganization of the original O .egon & California, which
company was in default after 1873. The laud grant is about 4,000,' laws or Oregon on June 27,1881, and received from the “ Villard Pool”
an assignment of the stock of the Northern Pacific Railroad purchased
000 acres; bonds are receivable for lands. Preferred stock is $12,000,by it. The company’s object was to hold the stocks of the Oregon Rail­
000; common $7,000,000.
In January, 1885, default was made and reoeiver was appointed. way & Navigation Company and the Northern Pacific, ana to con­
Foreclosure suit under the mortgages was begun by the Farmers’ Loan struct connecting roads.
The assets on Jan. 10,1887, varied only slightly from those given in
Si Trust Co.« trustee. In May, 1885, a plan was adopted in London for
amalgamation with Central Pacific, and in January, 1887, a modified the C h r o n i c l e of May 29,1886 (Y . 42, p. 6 A), which included 139,412
shares of O. R. & Nav. Co., 56,830 of N. Pac. pref, and 79,251 of N. Pac.
lan was reported, of which the terms were that Oregon & Calif« ruia
rst moit&age bondholders should receive a new 5 per cent bond at nar, common. In Dec., 1885, the company arranged a new loan for $4,050,guaranteed oy the Southern Pacific, and cash for back interest sinoe 000, at 5 per oent, for thiee years, secured by collaterals. The balance
July, ’86. The preferred,stocklio iders to receive one share of Cen­ of the unfunded debt, amounting to $3,573,000 in June, 1886, is carried
tral Pacific stock for every two shares of their own stock, together on demand and short loan*. (See financial report in V. 43, p. 162.)
Total authorized capital is $50,000,000. The bonds may be redeemed
with four shillings sterling for each i referred share, and the common
stockholdersto get one Cent. Pac. snare for every four of their own at 105; they are secured by deposit in trust of first mortg bonds on
new branch railroads, at $20,000 per mile; also secured by traffic con­
sh»i es, to gether with three shillings sterling for each common share.
For year 1884 gross earnings were $1,014,427; net, $140,765. In tracts with the Northern Pacific RR. Co. guaranteeing a minimum net
1885. gross earnings were $957,958; net. $192,066; other receipts, annual income of $1,400 per mile, being equal to 6 per cent per an­
$45,453. Charges—Interest (not paid), $541,200; sinking fund, $45.453 num on $20,000 per mile of bonded indebtedness, and a sinkiu.g fund
cent. The roads thus
miscellaneous, $14,073. Deficit for year, $363,207. (V. 4 ', p. 754; V. charge of one per Hills of RR. of Minn., mortgaged are: ,The,0No. ;Pacific
Fergus & Black
117 miles. $ 2 3 4 2 0 0 Little
44, p. 118, 370.)
Falls & Dakota RR., of Minn., 88 m., $1.757,000: Jamestown & North­
Oregon Pacific.—Road in progress and 70 miles, from Corvallis to ern RR. of Dakota, 102 m., $2,050,000; Fargo & Southwestern RR., of
Yaquina, on Yaquina Bay, completed in October, 1884. Land grant, Dakota, 87 m , $1,748,000; Sanborn Coopei-stown < Turtle Mountain
fe
over 900,000 acres, and oovered by first mortgage. Stock is $30.000 per RR , 36 in., $730,000; Rooky Mountain RR.. Montana, 52 m., $',034,
mile. T. E. Hogg, President, Corva lis, Oregon. N. Y. Office, 45 William 000; Helena < Jefferson County, 20 m., $102,000 total, 503 miles —
fc
Street.
at $20,000 per mile—$10,063,000 in bonds.
Oregon R a ilw a y Sc N avigation.—
July 1,1886. railroads oper­
Quarterly dividends began in Jan., 1883, at 1 * percent, and ceased
ated were as follows: Portland to Riparia, 301 miles; Bolles Junction to after October, 1883. (V. 42, p. 207, 664, 783; V. 43, p. 162; V. 44, p.
Dayton, 13 miles; Pataha Juno. to Pomeroy, 30 miles; Walla Walla to 118.)
Blue Mountain, 20 miles; Pendleton to Centreville, 17 miles; Palouse
Oswego Sc R o m e ,—Owns from Richland, N. Y., to Oswego, N. Y.,
Junction to Colfax, 89 miles; Colfax to Moscow, 28 miles; Umatilla to
Huntington, 217 miles; total, 715 miles. Ocean line between San Fran­ 29 miles. Road opened Jan. 1,1866. It is leased to the Rome Water
cisco and Portland, 670 miles; Puget Sound lines, 275 miles ; River town & Ogdensburg RR. at 8 per cent on its stock ($300,000) ana 7 per
oent on guar, bonds, pref. stock being represented by convertible bonds,
lines, 363 m iles; to tel of water lines, 1,308 miles.
The company pursued the policy of increasing its capital stock to raise ‘ $62,100 of bonds due 1870 are yet outstanding.
1882-83.
$
4,249,179
1,228,441
74,676

E




March , 1887. J

R A IL R O A D

STOCKS

AND

79

BO ND S.

Subscriber« w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these T ables.
DESCRIPTION.
on first page of tables.

Jtonas—princi­
INTEREST OR DIVIDEND.
- Milas Date Size, or
pal,When Dne.
Amount
S« of
of
Par
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Road. Bonds Value.
Cent.
Whom.
Dividend.

Owensboro A Nashville— 1st mortgage, gold............

Collateral trust (4u0,000.)..................................... .

Panama—Stock....................................... ...................
General mortgage, sterling, (£697,800)................
Sinking fund subsidy, gold......................................

123
84
48
48
48

Paris A Decatur See Terre Haute & Pe >ria.......... .
Paterson A Hudson— Stock.........................................
15
Pennsylvania—Stock........... ...................................... 2,036
Gen. M., Pb. to Pitts., coup., J. & J.; reg., A. A O

....
....

Consol, mortgage, gold............................................
Bonds, reg. (P. w. A B. stock deposited as collat’l) 571
Collateral trust loan (ooup., but may be reg.)......
....
Car Trust certs, (in series payable ijoth yearly)..
•••«
Navy Yard bonds reg. (extended 20 years in ’81)
Pennsylvania Company— Stock................................. 3,317
Reg. bonds, secured by P. Ft.W. A C. special stock
Bonds, gold, secured by pledge and guarantee___
Pennsylvania A New York— 1st mort., guar............. 105
1st mortgage, guaranteed........................................ 105
Pennsylvania Schuylkill Valley— Stock...................
1st mortgage bonds, registered...............................
54
Pensacola A Atlantic— 1st m. g, (guar, by L. & N.).. All.
Peoria A Bureau Valley—Stock..................................
47
Peoria Decatur A Evansville—Stock......................... 254
1st mort., gold (Pekin to Mattoon).......................... 110
1st mortgage (Evansv. Div.).................. ...............
135
P. D. & E. 2d mortgage...........................................
Car Trusts (payable $18,000 per annum...............

1881
1883
1867
1880
•• •
•
1870
1873
1879
1881
1883

$1,000
5,000
100
£200
1,000
50
1,000
1.ÒÒ0
1,000

1833
1881
....

l',000
1,000
1,000
50
1,000
1,000
1,000
1,000
50
1,000
1,000
100

1880
1880
1886

1,000
1,000
•• •
•

1875
1877
1881
1866
1866

(Pledged)
6 g. M. A N.
New York.
$260,000
6 g F. A A.
do
7,000,000
2
J. A J.
New York, Office.
3.489.000 r- " 7 g. A. A O.
London.
2,687,000
New York.
6 g- M. A N.
630,000
4
fj. A J.
New York.
98,521,300
2i* M. A N. Philadelphia, Office.
19,999,760
6
Q.—J. Philadelphia A London.
1,932,071
5
A. A O. Philadelphia, Office.
27,482,930
6
0..—M. Philadelphia A London.
4,998,000
5
J. A D.
do
do
8,174.000
4
J. A J.
do
do
9,900,000
41* J. A D.
do
do
7,790,000
5. 4
Q’rt'rly
Philadelphia.
1,000,000
5
J. A J. Phil.,Pa., Co.,for ins. Ac.
20,000,000
4
Pittsburgh, Co.’s Offloe.
2,177,000
6
Q .-J . Phila. Tr. 8. D. A I. Co.
13,217,000
4i*g. J. A J. N. Y., Nat. City Bank.
1,500,000
7
I. A D. Phila., B’k N. America.
1.500.000
J. A D.
7
do
do
4.970.000
4,800,000
5
J. A D. Philadelphia, Penn. RR.
3,000,000
6
F. A A. N. Y „ Comp’ys Agenov.
1.500.000
4
F. A A. N.Y.,Chio.,R. I. A Pac.
8.400.000
1,287,000
6 g. J. A J. N. Y., Central Tr. Co.
1.470,000
6
M. A 8.
do
2,088,000
5
M. A N.
do
229,000
7
Various
do

Nov. 1, 1931
Aug. 1, 1883
July l . 1885
’87 to ’39 A ’97
Nov. 1, 1910
Jan. 2, 1887
Nov. 29, 1886
19i0
Annually.
June 15,1905
Dec. 1, 1919
July 1, 1921
June 1, 1913
1891-93
Jan. 1, 1901
For 1883
July 5, 1907
July 1, 1921
June 1, 1896
June 1. 1906
Deo. 1, 1935
Aug. I, 1921
Feb.* 1887
Jan. 1,1920
Sept. 1, 1920
Nov. 1, 1926-

_______
Oswego & Syracuse. —
Owns from Oswego, N. Y., to Syracuse,
N. Y., 35 miles. Leased in 1868 to tbe Delaware Lack. A West. RR. Co.
or 9 per cent per year on stock and Interest on bonds.
Owensboro & N ashville.—Owns from Owensboro, Ky., to Adairville, Ky., 84 miles. Controlled in 1879 by the Nashville Chattanooga
& St. Louis, and now operated by Louis & Nash. RR., which owns a
majority of the stock. The $2,000,000 1st M. bonds are pledged for the
collateral trust bonds. Gross earnings for 1881-85, $165,137; net,
$37,580. Gross in 1883-4, $101,138; net, $15,832. Stock is $1,156,517.
P anam a.—Owns from Aspinwall to Panama, 48 miles. Opened
through Jan.28,1855. Of the general mortg. bonds $500,000 fall due in
five half-yearly payments beginning April, 1887, and balance in Oct„
1897. The $2,687,000 subsidy bonds are secured by a pledge of the
sum of $225,000 annual subsidy payable to the U. 8. of Colombia by
the company. In June, 1881, most of the stock was sold to parties
interested in the De Lesseps Panama Canal Co. The report for 1885 w
a=>
In C h r o n ic l e of April 17,1896, showing net income of $612,550, and
a deflolt, after paying 10 per cent dividends, of $628,490. 10 per ot. paid
in 1895. The surplus to D jc. 31,1884, was $1,076,557; surplus to Dee.
31,1885, $448,163. (V. 4?, p. 455, 4 8 6; V. 44, p. 212.)
Paterson & H u d so n .—Owns from Jersey City, N. J., to Pater­
son, N. J., 15 miles. The road was opened in 1834, and leased
In perpetuity September 9,1852, to the New York A Erie, at a rental of
$48,400 per year, and is operated by the New York Lake Erie & Western
as part of its main line. J. S. Rogers, President, New York City.
P ennsylvania.—<& Map)— L i n e o f R o a d —The Pennsylvania sys­
ee
tem embraces about 5,639 miles of railroad, including all east and west
of Pittsburg. At the close of 1886 the mileage operated east of Pitts
burg & Erie, on which earnings as reported were based, was divided as
follows: Pennsylvania Division and branches, 1,568; Philadelphia A
Erie Division, 287; United Railroads of N. J. and branches, 466; total
operated, New York to Pittsburg, with branches, 2,322.
O r g a n i z a t i o n , L e a s e s , & c .—The charter of the Pennsylvania Rail
road was dated April 13,1846, for a line from Harrisburg to Pittsburg.
The line from Harrisburg to Philadelphia was under other organizations
including the State Railroad, and the Harrisburg Portsmouth Mt. Joy &
Lancaster is still operated under a lease though forming part of the
main line. Road opened in 1854. The great number of leases, both east
and west of Pittsburg, were made for the most part under the adminis­
trations of J. Edgar Thomson and Thos. A. Scott in the few years preced
ing 1873. The terms of the leases will be found under the names of the
respective leased roads.
The Pennsylvania Company was organized in 1870 as an auxiliary
eorporation to control all the lines west of Pittsburg & Erie, and the
Pennsylvania RR. Co. holds all the stock of the Pennsylvania Company
8 t o c k a n d B o n d s .— The Pennsylvania Railroad stock has been in­
creased from time to time, chiefly by the sale of stock at par to stock­
holders, for the purpose of raising capital for new acquisitions or better
ments. The dividends paid each year sinoe 1870 have been—in 1871,
1872,1873 and 1874, 10 per oent each year; in 1875 and 1876, 8 per
cent each year; in 1877, 4 ; in 1878, 2 ; in 1879, 4 i* ; in 1880, 6 and 1
per cent in scrip; in 1881, 8 ; In 1882, 8hj; in 1883, 81 in 1881, 7 ;
*;
In 1885 and in 1 8 8 6 , 5

19,54d58i*.
In March, 1881, the company purchased 217,819 shares of thePhila
Wilm.A Balt RR., and the 4 per cent bonds secured by P. W. A B. stock
are purchased yearly at not over par with the surplus proceeds of Ph
& B. dividends and not needed for the payment of interest.
The collateral trust loan of 1883 is secured by the deposit of mortgage
bonds of subsidiary lines to the par value of $12,500,000.
O p e r a t i o n s , F i n a n c e s , a c .— 'The total cost to the Pennsylvania Rail­
road Co. of the stocks and bonds of other companies held in its treasury
B*>
to Dec. 31,1886, $104,261,043 (par value of the same $137,most of which is represented on the other side of the balance
sneet by issues of Penn. Railroad stock and bonds and other debit items,
me balance to credit of “ profit and loss” was $15,625,348.
to buy up the company’s guaranteed securities with 1 per
«
i” tbe net income per year is in operation, and he entire amount
P"® bygie company into the Trust up to the end of I 8 S0 was $3,828,There had been purchased for the fund securities of the par
value of *5.135,150, ’which yielded an interest of 6*83 per cent per
“imum unon me purchase price.
• From Jan. 1 to Jan. 31,1887, gross earnings on lines east of Pitts
Erie were $3,871,771, against $3,441,536 in 1886; net,
$1,214,351, against $951,541 in 1886. Surplus on lines west of PittfDmv and Erie, $222,361 in 1887, against deficit of $133,687 in 1886.
m e report for 1886, was in the C h r o n i c l e , V. 44, pp. 307 and 312.
a summary of the .total business of 1886, compared with previous
years, is shown in the following:
EARNINGS ON ALL LINES BOTH EAST AND WEST OF PITTSBURG & ERIE.
^ 1884.
1885.
1886.
r w ? £ armn??8...................... $97,849,875 $92,994,549 $101,697,981
operating expenses---- : ----64,434,317
61,690,901
67,102,714
Net earnings................... $33,415,558 $31,3 j 3,«4 8 $34,595,267
The Income account below embraces all receipts and expenses of the




Pennsylvania Railroad proper, but not including the roads west ot Pitts­
burg & Erie operated by the Pennsylvania Company. The aooount for
the years 1884,1885 and 1886 was as follows:
INCOME ACCOUNT OF PENNSYLVANIA RAILROAD COMPANY.

1881.
Net income Penn. RR. Divlsion.$10.185,529
Net loss New Jersey Division ..
593,536
B alance................................ $9,591,993
From this balance deduct :—
Advances to Pennsylvania Co.
$ ............
($1,667,733)............................
Payments to trust fund.............
600,000
Consol, mortg ige redeemed . . . .
277,460
Allegheny Val. RR.—Deficiency
698,320
Fred. & Penn. Line RR.
do
15,000
Am. 88. Co.—To meet int. guar.
............
Settlement of balances under
............
trunk line pool in 1883............
For destruction of property at
New Brunswick, N. J . . . . ........
..........
$l,59U,7»u
, $8,001,213
. 6,560,787
Rate of dividend.
(7)

Add profit and loss Jan.

$1,440,426
1,020,692
$419,734
. 13,613.184

1885.
$8,153,685
159,497
$7,994,183

1386.
3 8,974,970“
179,016
$8,795,954

$1,000,639
58,621
324,830
701,576
15.000
90.000

$667,093
69,895324,300
698,390
15.000
90.000
411,972

$¿,190,66«
$5,803,522
4,738,892
(5)

265,000
$2,542,150
$6,253,801
4,738,892
(5).

$1,064,630
363,355
$701,27o
14,032.918

$1,514,912
«23,756
$691,156
14,734.193

—(V. 42, p. 137,157, 255, 272, 285, 301, 304, 30 8, 339, 379, 397, 549,
597, 647, 664, 768,78 1; V. 43. p. 115, 132, 245, 352, 388, 431, 516, 635.
774; V. 44, p. 149, 276, 288, 3 0 7 , 312.)
P en nsylvan ia C om pany.—The Pennsylvania Company is a cor­
poration chartered by the Pennsylvania Legislature, Aprii 7, 1870, dis­
tinct from the Pennsylvania RR., and it operates all the leased lines west
of Pittsburg. The stock Is owned by the Pennsylvania RR.
The registered bonds are secured by deposit of $4,000,000 of Plttsb. Ft.
W. & Chic, special stock. The gold bonds of 1921 are secured by a deposit
in trust of the leases of the Pitts. Ft. W. A Chic, and the Cleve. A Pitts,
railroads and are also guaranteed by the Penna. RR. Co. The trustees
of the mort. are Wistar Morris, Edmund Smith and 8 . M. Felton. The
sinking fund is 1 per cent per annum if the bonds can be bought at par.
The whole number of miles operated or in any way controlled
by this company is 3,317. The lnoome account of the company showed
net profits over all liabilities, including fixed charges, of $1,867,883 in
1882; $872,829 in 1883; deficit tn 188 4 of $710,220, deflolt in 1885 of
$1,091,671; deficit in 1886 of $200,674.
P en nsylvan ia & N ew Y o r k (Canal and R a ilw a y ).—Owns
from Wilkesbarre, Pa., to N. Y. L. È. A W. RR. near New York State
Line, 104 miles. Branches to mines, 23 miles. Operated in connection
with the Lehigh Valley Railroad as a northern outlet. Common stock,
$1,061,700, and preferred stock, $4,000,000. Gross earnings in 1883-84.
$2,151,338; net, $609,544. Gross in 1884-85, $1.827,460; net, $3257
010. Seven per oent dividend paid on preferred stock in 1885.
P en nsylvan ia Sch u ylkill V a lle y .—lune 1 , 1883, the organiza­
tion of this company was completed by consolidation of several roads,
and in Nov., 1886, absorbed the Pottsville < Mabanoy th » Norristown A
S
Phcenixville, the Phcenixville Pottstown A Reading and the Phoenlxville A West Chester railroad companies. The road extends from Phila­
delphia to Hamburg, 8 4 miles, and is controlled by the Pennsylvana
RR. Co. Gross earnings in 1885, $360,482 ; oneratine expenses, $400,5 8 5 . J. N. DuBarry, President. (V. 42, p. 61.)
P ensacola & A tla n tic.—Pensacola, Fla., to River Junction, Fla.,
162 miles. Road completed Feb., 1833. Operated by Lou. A Nash, sinoe
Jan . 1885, and connects its system with the roads of Florida and So.Ga.
Stock, $3,000,000. In addition to the bonds above given there are
$975,000 6 per cent land grant bonds issued to the Louis A Nash., RR.
Earnings for year ending June 30, 1886, $294,616 gross and $33,679
net; interest on bonds, $180,000; other interest. $38,686 ; taxes, $19,539; construction, $19,950: deficit, $224,496.
P eoria A B ureau V a lley.—Owns from Bureau Junction to Peo­
ria, 111., 47 miles. The road was leased in perpetuity April 14,1854, to
the Chicago A Rock Island Railroad at a rental of $125,000 per annum,
^ P e o r ia Decatur & E v an sv ille.—Owns from Pekin to Evansville,
235 miles ; branch—Stewartsville, Tnd. to New Harmony, Ind.. 6
miles; leased, Pekin, 111., to Peoria, 111., 10 miles; through Decatur,
3 miles; total, 254 miles. This road is a consolidation of the
Pekin Lincoln A Decatur RR. (formerly leased to the Wabash) and the
Decatur Mattoon A So. and the Grayville A Mat. In Deo., 1886, stock­
holders voted to exchange the income bonds for 5 per oent 2d mortgage
bonds, and the exchange was mxde in March, 1887. Gross earnings
Jan. I t o Sept. 30, $591,969, against $542.461 in 1885; net, $295,93«,
against $242,986. Annual report for 1886 in V. 44, p. 342. Gross
earnings in 1886, $814.744; net, $336,981 ; gross in 1835, $736.984;
net. $247,655. Thii road is operated in harmony with the Evansville
A Terre Haute >y. 4 2 , p 363, 463. 519, 575: V. 43, p. 162, 275, 335.
368,459 487, ( i : 766; V.44 p.1 4 9 ,2 1 2 ,2 7 6 ,3 0 9 ,3 4 2 .)

IN V E S T O R S ’
SUPPLEM ENT.
V ol.
x l iv

.]




M arch , 1887.

R A IL R O A D

STOCKS

AN D

BONDS.

81

Subscribers w ill confer a great flavor by givin g im m ediate notice o f any error discovered In these Tables.
Bonds—Print.*
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due
Amount
For explanation of column headings, &c., see notes oi
of
Par
When
Outstanding Rate per Payable Where Payable, and by Stocks— Last
on first page of tables.
Road. Bonds Value.
Cent.
Whom.
Dividend.
Peoria A Pekin Union— 1st mortgage, gold, coupon
20 1881 $1,000 $1,500,000
6 g- Q .-F . N. Y., Central Trust Co Feb. 1, 1921
Second mortgage, gold (issued for incomes) ..
20 1881
1,500,000
1,000
4*ag. M. «fe N.
do
do
Feb. I, 1921
Perkiomen— 1st mortgage.....................................
38 1867
100
799,600
6
A. < O.
fe
Norristown, Pa.
Apr. 1, 1887
Consol, mort., gold, guar. P. & R., (sink, fund)_
_
38 1873
1,125,000
1,000
6 g. J. «fe D.
tu
do
June 1. 1913
Peterborough (N. H .)—Stock......................................
11
385,000 K 3
100
M. «fe N
Nashua, Treasurer.
N ov, Í886
Bonds (not mort.), redeemable after 1 8 8 2 ............ . . . .
(0,000
6
1877 500 «feo.
A. < O. Boston, N. E. Trust Co. Oct. 1, 1897
fe
Petersburg—S to ck .......................................................
63
1,000,700
100
7
....
Guaranteed pref. stock, 6 per cent........................
323,500
3
50
Jan. 3. 1887
1st mort. bonds (payable $25,000 yearly).............
*82 1869
300,000
....
8
f. & J.
Petersburg, Va.
Jan , 1887-’ »8
Mortgage bonds, class A .......................................... . . . . 1881
....
643,000
5
J. «fe J,
do
July 1, 1926
Mortgage bonds, class B..........................................
....
800,000
1881
6
A. «fe O.
Oct. I, 1926
Philadelphia A Balt. Central—Stock.........................
79
50
2,495,650
1st mortgage (for $2,500,000)................................
79 1881
1.000
1,000,000
5
M. < N. Phila. Company’s Office. Nov. 1, 1911
&
Westchester & Phila., 1st mortgage......................
27 1871 100 «feo.
1,100,000
7
A. < O.
&
do
do
April 1, 1891
Philadelphia < Erie— Stock, common........................ 287
t
50
7,975,000
....
Preferred stock, special........................................... 287
2.400,000
50
Philadelphia, Pa. RR.
1st mort., Sunbury& E. (extended 20 years in ’77).
40 1857
1,000
976,000
7
A. < O. Philadelphia, Pa. RR. Oct. Ï, ¿897
&
2d mortgage.............................................. ............... 287 1868
1,000
3,000,000
J. «fe J.
7
do
do
July 1, 1888
General M., g., guar by Pa.RR.($5,263,000 rg. 5s) 287 1869
1,000 13,943,000 5 < 6 g. Various Philadelphia < Loudon. July, 1, 1920
fe
fe
Debenture bonds, reg. (redeemable at any time)..
1885
1,000
1,470,000
4*2 F. «fe A. Philadelphia, Penu.RR. Feb. 1. 1915
Phila. Qermant’n < Chestnut Hill—1st mort., guar
t
7 1883
1,000
1,000,000
4*2 M. «fe N.
May 1, 1913
Philadelphia Germantown A Norristown—Stock. ...
....
29
50
2,231,900
3
Q.—M. Phila., Treasurer of Co. Mar. 3. 1887
Philadelphia Newtown A New York—Stock............... ....
50
1,200,000
Bonds, guar, by Phila. & Read., coup.....................
21
....
100 «feo.
700,000
6
A. & O. Phila., 227 So. 4th St. Oct. I, 1897
Philadelphia A Beading— Stock, common................. 932
50 38,537,461
2*2
Philadelphia, Office.
Jan. 25,1876
Preferred stock........................................... ............. 932
.
50
746,500
do
do
312
July, 1876
Receiver’s certincaxes outstanding Nov. 30,1886.
1884
2,835,370 4, 5, 6
Mortgage loan, sterling, coupon............................
....
1843
£500
967,200
6
J. «fe J.
Loudon.
July, 1910
do
dollars, coupon........................... .
... .
1843-9 1,000
1,499,500
6
J. «fe J. Philadelphia, Offioe.
July, 1910
....
do
convertible, coupon........................
1857 500 «feo.
74,500
6
J. «fe J.
do
do
July, 1910
Mortgage loans, coupon...........................................
.... 1868 1,000
2,700.000
7
A. «& O.
do
do
Oot. 1. 1893
Consol, mort. ($8,162,000 are gold 6s) cp. or reg. . . . . 1871 200 «feo. 18,811,000 6 ft. or 7|J. «fe D. L ist paid Juuo, 1386
June, 1911
Gen. mort., gold, $ and £. cp.($5,000,000 are 7s). —
1874
1 .0 0 0
24,686.000 7 <& 6 sr.lj. «fe J. Last pa d July. 1881
July 1. 1908
Peoria dc P e k in U n ion .—Owns from Pekin to Peoria, 10 miles; Brook, N. J., and branch to Trenton. The Shaiuokin Sunbury & Lewison each side of 111. River; total operated, 20 miles. The road is a union burg, and the Jersey Shore Pine Creek & Buffalo and other lines, form
road, and the stock of $1,000,000 was taken by the different Peoria the connecting roads to the N. Y. Cent. & H. at Geneva and Lyt m , N. Y
fc.
RR. companies, and they pay a rental for use of the road and also pay
Organization, L eases, «fee.—The Philadelphia & Reading Company
terminal charges. See full description in V. 36, p. 253. Opened Feb., was chartered April 4,1833, to build from Philadelplia to Reading, and
1881. In 1885, gross receipts, $397,506; net, $168,437; balance on May 13,1872, the Mount Carbon Railroad was merged aud beoame
over interest and rentals, $4,286. Gross receipts in 1884, $429,847; part of the main line. Road opened Philadelphia to Pottsville in Jan.
net, $174,368; balance over interest and rentals, $71,889. A. L. Hop­ 1842. The Philadelphia & Reading Co. leases a number of roads in
kins, President, New York.
Pennsylvania, including the Catawlssa, Chester Valley, Colebrookdale,
Perkiom en.—Own from Perkiomen Junction, Pa., to Einaus East Pennsylvania, Little Schuylkill, Mine Hill. Schuylkill Valley, Phila­
Junction, 39 miles. The road was leased for 19 years from Aug. 1, delphia Germantown < Norristown, Philadelphia A Chester, and some
fe
1868, to Phila. < Reading RR., and bonds guaranteed by the lessees; but minor roads; also the North Pennsylvania Railroad and Delaware
&
the property was surrendered and all control given up in May, 1879. & Bound Brook, forming the line from Philadelphia to New York. In
Stock subscription, $38,040. A proposed plan of reorganization pro­ May, 1883, the Central of New Jersey was leased, including the leased
vides for cancelling present debt and issuing a new mortgage for lines of that company in Pennsylvania, but af.er failure to pay the
$2,250,000. Net earnings in 1883-84, $99,201; in 1884-85, $121,537. lental and a decision that the lease was never legally valid, the Jer­
Interest on debt, $115,476. (V. 44, p. 335.)
sey Central Road was given up Jan. i. Ib87. The fiscal year ends
Peterborough.—Owns from Wilton to Greenfield, N. H., 11 miles November 30. The annual election is held early in January.
The Philadelphia < Reading Coal & Iron Company is a corporation
&
Completed Jan. 1, 1874. and leased by Nashua & Lowell Railroad
for 20 years from 1873 at 6 per cent on cost of the road. Edward formed (Deo. 12,1871) for the purpose of owning ancl working the ex­
tensive coal properties of this company. The Phila. & Read. RR. Co. owns
Spalding, President, Nashua, N. H.
stock
< Iron Company.
&
Petersburg. -Petersburg, Va., to Weldon, N. C., 63 miles. In May all theP. & ($8,009,000) of the Coal,/ere
The
Iron
1877, a receiver was appointed, but steps were taken by second mort- May. 1880. R. RR. and the AgainCo. June, in the hands olreoeivers from
to May. 1883.
in
’ 84, receivers were appointed.
age bondholders to prevent a sale, and reorganization was made with
S
Bonds.—The
is of small amount, and did
323,500 preferred stock aud $1,000,700 common stock. $440,000 Class nottock andany dividends preferred stockThe dividends paid on Phila­
receive
after 1880.
“ A” bonds are still in hands of Central Trust Co., of which $350,000 are delphia & Reading stock from 1870 to 1875, inclusive, were 10 per cent
reserved to retire old 1st mortgage 8s. In 1885-86, gross earnings,
^
paid and nothing since.
$359,596; net, $160,934 ; in 1884-85, gross, $345,128; net, $157,095. each year; in 1876 2R. per cent was in Philadelphia since 1875 has been:
The range of P. &
stock yearly
-(V . 42, p. 9 2 ; V. 43, p. 608.)
in 1876, 18*2 05 5 ; in 1877, 10020% ; in 1878, 113a2 19%; In 1879
»
Philadelphia & B altim ore C entral.—Philadelphia to West­ 111
2@3758; in 1880, G^S/SG3 in 1881, 2538®371 ; in 1882, 231 3
^;
4
e
chester, 26 miles; Westchester Junction to Octoraro Md., 46 miles; 3358; in 1883, 23i2@30»a; in 1*84. 8%@30l4; 1835,
in 1886,
leased Chester Creek Railroad, 7 miles; total operated, 79 miles. This 9%©27; in 1887, to Mar. 19,
was a consolidation, Oct., 1881, of the Philadelphia fe Baltimore CenThe bonds in the table above are arranged with the mortgage bonds
tral and the Westchester & Philadelphia railroads. Of the new dock placed first, then the plain debentures, iucome bonds, scrip, &c. Under
Philadelphia Wilmington & Baltimore RR. holds nearly all. In 1884-85, the sinking fund clause the right has been claimed by Mr. Gowen to pay
net earnings, $181,799. In 1885-86, net earnings, $166,129; surplus off the general mortgage bonds at any time on proper notice. The
over chargee, $20,859.
trustees of the general mortgage oi 1874 hold the bonds of the Coal
P h ila d e lp h ia & E rie.—Owns from Sunbury to Erie, 287 miles. & Iron Co., viz., $29,737,965 mortgage of 1874 and the Philadelphia &
Formerly Sunbury «&Erie RR. It was leased to Pennsylvania RR. for Reading Co. also holds the $10,000,090 mortgage of the Coal & Iron
899 years from Jan. 1, 1862, the lessees to pay 30 per cent of gross Co. dated 1876.
The Deferred Income bonds have a claim for 6 per cent Interest only
eceipt as rental, but modified January 1, 1870, so that actual net
reoeipts are paid as rental. The general mortgage is guaranteed by the after 6 per cent has been paid on the stock. In January, 1883, the con­
Pennsylvania Railroad and the interest on the 6s is paid J. & J., on the vertible adjustment scrip was Issued, secured by $4,000,000 income
5 per cents A. & O. The unpaid coupons are held bv the lessee for ad­ mortgage. The new consol, mortgage dated in 1882, duo In 1922, was
vances, and by terms of adjustment in Jan., 1885, made with the Penna. issued In adjustment of certain liabilities. In addition to the bonds
Railroad Co. the P. & E. issued $1,500,000 debenture bonds at 4*2 per above given there are real estate mortgages of the P. & B. RR. Co. for
$2,098,200 and of the Coal & Iron Co. for $769,837.
cent, secure! by the overdue coupons held as collateral.
Gross earnings from January 1 to January 31, 1887, weie $260,052,
Operations, Finances, &c.—The Philadelphia & Reading Co. has
against $218,830 in 1886; net, $102,143, against $67,137.
been the largest of the anthracite coal carriers, and through its auxiliary,
Last report was in Chronicle, V. 44, p. 273, giving the following:
the Philadelphia < Reading Coal < Iron Co., became a large owner of
&
fe
coal lands. Between 1870 and 1876 theP. < R. increased heavily its
&
_
INCOME ACCOUNT.
capital account In the purchase of new properties,, and after- paying 10
Eeceipts—
1883.
18S4.
1885.
1886.
Gross earnings....... $4,108,843 $3,660,146 $3,292,253 $3,708,485 per cent dividends for some years ceased to pay after Jan., 1876.
In May, 1880, the company suspended payment, and on May 24
Net earnings............ $1,488,020 $1,45*.0-0 $1,292,880 $1,465,953
receivers were
and held
May, 1883.
Ken*S........................
4,892
9,120
8,471
10,836 June, 1884, the appointedagain went possession till hands, par.lyBut in
company
into receivers’
owing’
Total incom e.... $1,492,912 $1,467,200 $1,301,351 $1,476,789 to the he ivy charges on Central of N. J. lease, while coal profits also
declined largely.
IHsbursemenls—
In
of
formed,
Interest on debt___ $1,062,270 $1,062,270
$985,620 $1,129,432 with Feb., 1883, the Drexel-Morgan syndicatethe bankers waseffecting
a proposed capital of $15,000,900,
Interest on equipm’t
162,281
166,801
165.274 reorganization. (See Chronicle, V. 42, p. for and purpose oi
166,893
216
p. 394.) The plan of
Extraordin’y expen.
10,000
..............
27,000
36,422 organization approved by the “ reconstruction trustees” Teorestnting
Miscellaneous..........
43,024
21,147
8,200
8,200 bondli -lders and the company, and by the syndicate, was publi hod at
< ,.*
Total disbursem’ts $1,277,575 $1,250,218 $1,187,713 $1,339,328 length in the Chronicle <f March 27, <836, on p 394, &• , and after
215.337
216,982
113,638
137,461 the agreement with Mr. Gowen in Sept., 1886. under which Mr. A. Corbin
became Presid- nt, the complete plan as modlftei was published in tho
—(V. 42, p. 270 ; Y. 44, p. 2 7 3 .)
Chronicle of Dec. 18. on p. 747; (V. 43. p. 747).
n ^ . ,la d ?,1PllIa G erm an tow n & C hestnut H i l l .—In PhiladelFor two mouths from Dec. 1, 1886, to Jan. 31, 18*7, gross earnings
pma horn Germantown Juno., on Connecting Railway, to Chestnut Hill, of the P. & R. and P. < R. C. < r. Co. were $5,527,809 against $5,' 12,&
fc
D
?re8' JTrinn May 1,1883, leased for 3o years to the Pennsylvania 571 in J885-6; net, $1,396,078, against $953,265 n 1885-6.
which guarantees 4*2 per cent on the bonds. Gross earnings in
The annual report foe the year ending Nov. 30, 1886. waa in V. 4 4 , p ,
o il« i 48’162; operating expenses, $116,405.
89, and gave the income account as below, including the Central
p f kU^delphia. G erm an tow n & N orristow n . — Philadelphia. of New Jersey leased lines. From this report it appears that the floating
^orrO’town,Pa., 1.7 miles; Germantown Branch, 3 miles; Ply- debt and “ current liabilities” of the P. & R. and the Coal & Iron cos.
Nnvt inIii ili^ a? ’ 5.
U
total» 29 miles. The property was leased Nov. 30, 1886, were *29,779,273, against $25,070,177 the previou
fftrUniAi
^ PhU^etohla & Reading Railroad for 999 years at a year, an increase of $4,7 9,096. The details of the P. & R. RR. Co.
Srri“
$269,623 and $8,000 yearly for organization expenses. Divl- unfunded debt were as follows i
*»»7« i j . P ^ r oent Per annum are regularly paid.
Nov. 30, ’86.
Nov. 30,’ 85.
Phtiauiniw- PM a N ew to w n & N ew Y o r k .—Owns from Erie Ave., Bills payable and loans................................ $3,721,805
$7,103,890
O n V A n i?^ ’ to Newtown, Pa., 21 miles. Capital stock, $1,200,000. Receiver«’ certiticat •«............
2,835,370
2,747,857
12 0 i 2Vahtbt r
ti16 Philadelphia < Reading Railroad purchased Leased r< ads aud canals—r ntals.............. .
fe
f ,342,743
3 364,501
bonVi«
(which gave control of the property), and guaranteed the Unpaid inti rest and dividends....................
8,’-'19,814
4,' 94,427
Fnrnfnttle .r"ad is operated in connection with the P. < R. system Connecting toa d s................ .........................•
fe
5vl,4e7
474,271
Farmngs m 1884-85, $73,928, expenses, $ 82 .2 3 2 ; deficit, $8 353; Account of current business........................
492,415
454,3^8
I*», n o
oamingg were $80,450; expenses, $86,629; deficit, $6,179.
Wages, drawbacks. &c..................................
1,842,! 9.»
3, tOO,971
PMSdftuihiS^S & B e a d in g .— Line op R oad—Owns main line. Taxesonstock and receiits........ ........ . . . .
3.2,054
592,350
P il88’ branches owred, 228
$26,301,658
$20,832/23
Tite Coal & Iron Co.’s floating liabilities on Nov. 30, 188” , w-.ro
$1,855,363, against ? 2 C
09,499 on Nov. 3” , 1 85.

f




IN V E S T O R S

8 2

V ol XLIV.

SUPPLEM ENT.

Subscriber* w ill confer a great favor by givin g im m ediate notice o f any error discovered in these Table«.
Bonds— Princi­
INTEREST OR DIVIDENDS.
I
DESCRIPTION.
pal,^When Due.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
of
For explanation of column headings, &c., see notes
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.

Phila. A Bead.— ( Oont.)— Improvement rnort., gold
Income mortgage, $ ............................v,;a: Consol. M, o f ’82,1st ser., gold (for $80,000,000).
do
2d senes (for $80,000,000).......
Debenture loan, coup...............................................
do
convertible, coupon............. .
Scrip deben. and guar, bonds, currency................
Scrip general mort. and Perkiomen, 6, sterling..
Deferred Income bonds............................................
Deferred Income scrip..............................................
Conv. adjustment scrip ...........................................
Car trust certificates..............................................
do
do
............................ - - •••••;—
p. & jr. coal & L, purchase money mort. bonds...
do
debenture loan...........................
Philadelphia. A Trenton—Stock.. . . ............. .
Philadelphia Wilmington A Baltimore—Stock.........
Plain bonds, registered.............................................
do
..............................................................
do
..............................................................
do
............................................................
Piedmont A Cumberland—1st m o rt.........................
Pine Creek.— 1st mort., guar......................................
Pittsb. Oleve. A Toledo— 1st rnortg., gold, int. guar..
PiUs. O.A St. L — 1st M., consol., reg. and coup........
2d consol, mortgage................... .............................
1st mort., Steub. & Ind., extend, in 1884, reg ....
Col. 6 Newark Division bonds...............................
l
Holliday’s GoveRR. mortgage b on d s.................
pittsb. A Oonnellsville— 1st mortgage......................
1st mortgage Turtle Creek division.......................
Consol, mort., guar. B. & O. (s.f. £7,200 pr. y r.)..
2d consol, mortg., gold (pledged for B O. bonds).
.<fe

"¿9
506

30
78
199
199
125
33

1873 $ 1,0 0 0 $9,364,000
4,905,000
1,0 0 0
1876
4,403,328
1882 500 &c.
2,441,052
1883 500 &c.
652,200
1868 1 00 &c.
6,203,900
1873 1 00 &c.
557,569
1877 1 0 &c.
1,794,510
1877
24,673,400
1882
894,690
2,110,730
1883
1,400,000
1883
822,000
1884
12,261,000
1872-4
1,117,000
1872
1 ,0 0 0
1,259,100
1 00
50 11,819,350
1 ,0 0 0 ,0 0 0
1,000
1887
700,000
1872-4 1,0 0 0
800,000
L 000
1875
1 ,0 0 0 ,0 0 0
1880
650,000
1,0 0 0
1886
3,500.000
1 ,0 0 0
1883
2,400,000
1882
6,863,000
1,000
1868
2,500,000
1 ,000
1873
3,000,000
1 ,0 0 0
1864
134,000
1 ,0 0 0
1864
1 2 0 ,0 0 0

149
10

149
149

1868
1859
1876
1885

1 .0 0 0
1 0 0 &c.
£200
1 0 0 &c.

G B038 AND NET RECEIPTS.

1885-86.
1883-84.
1884-85.
Gross receipts..............................$4=7,450,84=8 $44,643,066 $46,373,811
34,253,954
Gross expenses...............
34,054,314
32,015,069
________
Net earnings......................... $13,396,534 $12,628,897 $12,119,857
The income account was briefly as follows:
INCOME ACCOUNT.

1884-85.
Net receipts, both companies ........................ $12,628,897
From this deduct: For the Railroad Co.—
Debit balanoe, profit and loss...........................
$82,430
18,898
State tax on capital stock.................................
All rentals and full interest due, including
dividends due on Cc-nt. of N. J. s to ck ....... 16,184,453
Deduct: For the Coal & Iron Co.:
Full interest on all obligations other than
those held by the Railroad Co........................
940,997

1885-86.
$12,119,857
$62,895
30,653
15,804,595
984,684

$17,226,778 $16,882,827
D e fic it o f b o t h companies.................................. $4,597,881
$4,762,970
—(V 42 d . 23. 61. 9 1 ,9 4 , 157,216,234, 272, 304, 339,365,393,394,
431.*462. 464, 488, 519, 549, 604, 632, 675, 694, 728 : V. 43, p. 23,102,
103,131.133,245,275,368, 399,431, 459,516, 547, 635,672, 719, 738,
7 4 7 ; V. 44, p. 22, 61, 89, 90, 185, 212, 244, 276, 309, 344.)
P h ila d e lp h ia Sc T r e n t o n .—Owns from Kensington, Pa., to Mor
risville, Pa., 26 miles and Tioga Branch, 1 m ile; leased—Trenton Bridge
Connecting Railroad, 7 miles, and Frankford & Holmesburg Railroad, 4
miles; total owned and leased, 39 miles. On Dec. 1, 1871, it was
leased with the United Companies of N. J. to the Penn. RR., at 10 per
cent on stock, and is operated 3.8 a part of its New York division.
P h ila d elp h ia W ilm in g to n S B a ltim o re .—Mileage as follows:
c
Philadelphia Wilmington & Baltimore RR., 122 miles; Philadelphia &
Baltimore Central, 79; Delaware RR., 100 ; Queen Anne & Kent RR..
26 • Delaware & Chesapeake, 55; Cambridge & Seaford RR., 27; Del.
Md. & Va. RR., 98 miles; total operated, 506 miles. Owns over half the
stock of the Phil. & Balt. Cent.
This road on the main route, Philadelphia to Baltimore, has been
profitable, paying regular dividends, with a considerable surplus. From
1868 dividends of 8 per cent on the stock have been paid each year. In
April, 1881, nearly the whole stock was purchased and is held by Penn.
RR. Co. For four years the income account was as follow s:
INCOME ACCOUNT.

1882-3.
$
Gross earnings........... 5,741,672
Receipts—
Net earnings................ 1,675,997
Other receipts...............
109,348

1883-4.
$
5,820,323

1884-5.
$
5,678,588

1,855,178
133,496

1,789,816
122,373

Total inoorne.......... 1,785,245
$
285,329
Rentals paid..................
Interest on debt............
211,778
Taxes.............................
49,234
Dividends, 8 perot—
943,604
Miscellaneous...............
150,133

$
331,338
201,485
47,682
9i3,604
14,543

$
386,634

Disbursements—

2 0 0 ,0 0 0

47,686
945,548
11,674

1885-6.
$
6,004,764
1,862,630
146,378
2,009,008
$
367,650
2 0 0 ,0 *0
47,697
945,548
13,605

Oct. 1, 1897
Deo. 1, 1896
May 1, 1922
Feb. 1, 1933
July 1, 1893
Jan. 1, 1893
July, 1877-84
July, 1882-85
Irredeemable.
Irredeemable.
Jan. 1, 1888
1892 to 1.894
1892
April 10,1887
Jan. 1, 1887
April, 1987
Oct. 1. 1892
April 1. 1900
June, 1910
Aug. 1, 1911
Deo. 1932
Oct. 1, 1922
Aug. 1, 1900
April 1, 1913
Jan. 1,1914
Jan. 1,1890
Feb. 1,1893
July, 1898
Aug. 1, 1889
Jan. 1, 1926
Feb. 1, 1925

miles. This was a consolidation of several companies, May 1, 1868, in­
cluding tha Steubenvfile & Indiana and the Pan Handle roads. This com­
pany is controlled by the Penn. Company, through the ownership of a
majority of its stock. The P. C. &St. L. also has leases of the Little Miami
and its dependencies. Common stock, $2,508,000; first Dref. $2,929,200;
second preferred, $3,000,000; par value of shares, $50. Authorized
amount of 1st mort. $10,000,000, of which $3,137,000 reserved.
The report for the year 1885, in V. 42. p. 547, said that the tonnage
transported was 4,066,386 tons, against 3,630,919 tons in 1884, an
increase of 435,467 tons, being entirely in through traffic, and mainly
in lumber, coke, ore, provisions, agricultural products and miscellaneous
manufactures. The coke traffic shows an increase ol about 48 per cent,
or 63,720 tons. The decrease in ooal tonnage was due to the falling off
in the Pittsburg local traffic, caused by the substitution of natural gas
for fuel in place of coal. There was an increase in freight earnings of
$37,407. The average rate received per ton per mile was 5 3-10 mills,
as compared with 6 3-10 mills for the previous year. There were carried
1,261,427 passengers, as oompared with 1,323,074 in 1884.
The statistics of the report f*. r 1886 were in V. 44, p. 342. Compara­
tive statistics for the four years, 1883-’86, are as follows:
1886.
1885.
1884.
1383.
4,623,740 4,045,257 4,033,623 4,752,596
Total gross earnings.
2,681,633 3,130,690
2,731,960
3,087,465
Op. exp. and taxes..
Net earnings.............
P.c.of op.ex.to eam’s

1,536,275
66-77

1,351,990
66-48

1,621,906
65-87

1884.
$
1,313,297
4.624
423,531

1885.
$
1,351,990
4,835
378,330
589

1886.
<
e
1,621.906
4.974
432,897

1,741,452
$
849.920
646,990
183,850
105,000
33,011
42,003
27,888

1,735,744

2,059,777
$
931,518
646,990
133,104

1,313.297
67-53

INCOME ACCOUNT.*

1883.

Receipts—

9

Net earnings.............
Rentals and interest
Net from l’sed roads.

1,536,275
8,784
401,132

Total income.......

1,946,191
$
856,345
714,490
231,246
105,000
82,534

Disbursements—

Rentals paid.............
Interest on fund, d’bt
Other interest...........
Int.on C.&M.Val.bds.
Loss onSt.L.V.&T.H.
“ Cin.& Mus. V. RR.

10,418

9

830,881
646,990
178,615
52,500
66,917

14,172

1,725,784
1,888,662
1,775,903
Total.................... 2,000,033
Balance..................... def.53,842 def.147,210 def. 40,159 sur. 333,993
* Exclusive of Col. Chic. & Ind. Cent. .
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.

1883.

Assets—

1884.

RR.,equipment, Ac.. 20,605,107 20,798,277
1,085,967
Stocks owned, cost..
1,085,967
23,750
Bonds owned, c o s t..
21,744
Betterm’ts tol’s’d r’ds
20,318
1,107,502
1,119,287
Bills & accts. receiv..
292,014
474,337
Materials, fuel,&o...
258,918
317,725
1,574,501 Cash on hand............
64,639
64,639
Conn. R y ...
434,507 Cin. Str. loss balance
396,124
232,415
Profit &

1,591,542
Total disbursem’ts... 1,639,078 1,538,653
450,016
319,647
Balanoe, surplus..........
146,167
—(V. 42, p. 126; V. 44, p. 185.)
P ied m on t Sc C u m berlan d .- -Road extends from Piedmont, West
Va., to Cumberland, Md., 30 miles. It connects the West Va. Central &
Pittsburg RR. with the Pennsylvania RR. system, and has a traffic con­
tract from the Pennsylvania Railroad. Stephen B. Elkins, President.
• Pine Creek.—Stokesdale Junction to Newberry Junction, Pa., on the
Corning C. & A. Road, 75 miles. Formerly Jersey Shore Pine Creek & BuftRR It is operated by the Fall Brook Coal Co., and forms a connection
between Philadelphia & Reading lines and N. Y. Central, and bonds are
guaranteed by these companies and the Coming C. & A., on the condi­
tion that guarantors shall advance money for interest if needed and
take 2d mortgage bonds for such advances. Stock $1,090,000. Stock
and bonds were largely held by Mr. W. H. Yanderbilt. Gross earnings in
1885 were $538,326; net, $167,564; lent of road, $161,498; surplus,
$6,066. Gross in 1884, $460,263; net, $94,374.
Pittsburg Cleveland Sc Toledo.— (See Map of Baltimore A Ohio.)
—From Newcastle Junction, Pa., o Akron, O., 77 miles. Stock $3,000,, oo par $50. Leased in July, 1884, for 99 years, to Pittsburg & Western,
which is controlled by Baltimore & Ohio, and the Baltimore & Ohio
Company guarantees interest on the P. C. & T. bonds (see terms in Y.
39 n 607?) In the year ending June 30, 1886, gross earnings were
$40t,825; net, $132,462; interest, rentals, &o., $260,802; deficit,
$12^340.
P ittsburg C incinnati Sc St. L o u is.—Owns from Pittsburg, Pa.,
to Columbus, Ohio, 191 uiles; branch to Cadiz, Ohio, 8 miles; total, 199




4,000,000
326,600
6,292,000
1 0 .0 0 0 .0 0 0

& O. Philadelphia & London.
& D. Last paid Dec., 1883
& N. Last paid May, 1884
& A. Last paid Feb., 1884
Last paid Jan., 1884
& J
& J. Last paid Jan. 1884
& J. Last paid Jan., 1884
& J. Philadelphia & London.
Nothing ever paid.
6
Nothing ever paid.
6
Last paid Jan., 1884.
J. & J.
6 .
F. & A. Last paid Feb., 1886
6
M. & 8 . Last paid March, 1886.
6
Various Philadelphia, Office.
6 &7
M. & 8. Last paid March, 1884.
7
Philadelphia, Office.
Q .-J .
2 >s
J. & J. Phil’delpMa, Co.’s Office
4
do
do
A. & O.
4
do
do
A. & O.
6
do
do
A. & O.
6
do
do
T. & D.
5
New York.
F. & A.
5
J. & D. Phila. P. & R. RR. Co.
6
New York.
A. & O.
6
F. & A. Phila., Pa., RR. Office.
7
do
do
A. & O.
7
J. & J. N. Y., Nat. City Bank.
5
J. & J. Phila., Pa. RR. Office.
7
do
do
F. & A.
J. & J. Balt., Balt. & Ohio RR.
7
F. & A. Pittsb., First Nat. Bank
6
6 g. I. & J. London. J.S.Morgan&Co
New York Agency.
1
5 g. F. & A.
A.
J.
7
5 g- M.
5 g. F.
J.
6
J.
7
J.
6
J.
6

6 g.

1885.
20,870,740
1,085.967
23,750
38,17
1,036,391
389,995
276,134
64,639
428.482

1886.
$
,965,392
,085,967
23,750
16,021
951,613
330,697
322,045
64,639
119,300

23,908,010 24,060,720 24,214,268 23,879,426
$
$
$
$
2,508,000
2,508,000 2,508,000 2,508,000
Stock, common........
5,929,200 5,929,200 5,929,200 5,929,200
Stock, preferred.......
Bonds......................... 12,617,000 12,617,000 12,617,000 12,617,000
1,680,136
1,451,050 2,013,724
All other dues& acc’ts 1,692,961
845,290
845,826
847,360
845,826
Due Little Miami RR.
Due C. C. & I.C. R R ..
262,500
262,500
262,500
262,500
Cin. Street Conn.bds.
37,298
447,144
38,018
50,989
Miscellaneous...........
Total assets........

Liabilities—

Total liabilities . 23,908,010 24,060,720 24,214,268 23,879,426
- (V . 42, p. 366, 547; V. 43, p. 245; V. 44, p. 3 4 2 .)
P it t s b u r g Sc C o n n e lls v llle .—Owns from Pittsburg, Pa., to
Mt. Savage June., Md., 147 miles; branch, 2 miles; leased lines, 22 miles;
total, 171 miles. Leased to the Balt. & Ohio Railroad since Jan. 1»
1876. The city of Baltimore transferred its interest to the Balti­
more Railroad for $1,000,000, and the consolidated sterling mort­
gage was made and guaranteed by the Baltimore & Ohio, o f which
enough is reserved to retire the prior bonds. It is operated as the
Pittsburg Division of the Baltimore &' Ohio RR. In 1884 the Balt. &
Ohio issuea its bonds for $10,000,000 secured by pledge of the above 2d
consolidated mortgage of the Pittsburg & Connells villefRR. Stook is
$1,944,400. In 1885-86 gross earnings, $2,430,085; net^f ere $842,421.

M a r c h , 1887.]

K A IL R O A D

STO CKS

AN D

BO ND S,

83

Subscriber* w ill confer a great favor by giving Im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.

Bonds— Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
of
of
Par
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Road. Bonds Value.
Cent.
Whom.
Dividend.
PUisburg Ft. Wayne A Chicago— Stock, guar.
468
$100 $19,714,286
1%
Q.—J. N. Y., Winslow, L. A Co. Jan. 4, 1887
Special improvement stock, guaranteed....
468 187*1
100 10,776,800
1%
Q.—J.
do
do
Jan. 3, 1887
468 1862 500 &c.
5,250,000
7
Various
do
do
July 1, 1912
2d do (series G to M) > m aybe
468 1862 500 &c.
5,160,000
7
Various
July 1, 1912
Sd mortgage..................) to order
468 1862 500 Ac.
2,000,000
A. A O
7
do
do
July 1. 1912
Pittsburg Junction— 1st M., gold........
4Q 1881
1,000
1,440,000
6 g. J. A J. New York A Pittsburg. July, 1922
Pittsburg A Lake Erie— Stock.............
70
50
2,050,000
6
>n 1886
1st mortgage, gold, coupon.............
70 1878
1,000
2.000,000
6 g- J. A J. N. Y., Phila. A Pittsb. July 1. 1928
Pittsburg McK. A Youghiogeny—Consol, stk., guar .
62 1884
50
3,000,000
l»a
Q .-J .
July 1, 1885
1st mortg., guar
. . . . 1882
1,000
2,250,000
6
7. A J. N.Y., Union Trust Co. July 1, 1932
62 1884
2d mortg............
1,000
750,000
6
J. A J.
do
do
July 1, 1934
Pittsburg Painesviile A Fairport— 1st mort
62 1886
1,000,000
5
J. A J.
1916
Pittso. Ya. A Charleston— 1st mortgage, goli
70 1882
1,000
3 000,000
5
A. A O.
Philadelphia.
April 1, 1912
Pittsburg A Western.—1st mort., g. (for $6,000,000) 120 1881 1,000
4,125,000
6 g. J. A J. Last paid Jan., 1885.
July 1, 1921
1st mortgage. Pitts. Brad. A Buff.............
103 1881
1,000
800,003
6
A. A O. Last paid Oot., 1884.
April 1, 1911
Consol mortgage.........................................
....
363,400
1911
Port Huron A Northwestern—1st mortgage
....
218 1879
755,000
7
A. A 0. N. Y., First Nat. Bank. Oct. 1, 1899
Consolidated mortgage...............................
218 1882
920,000
6
M. A 8.
do
do
Mar. 1, 1922
Equipment mortgage.................................
218 1881
135,000
7
F. A A.
Port Jervis Monticello A N. Y.—Stock
24
500,000
Port Royal A Augusta— 1st mortgage.
112 1878 10Ö Ac.
250,000
6
J. A J. N. Y., 252 Broadway. Jan. 1, 1899
2d mort., endorsed by Central Ga ..
112 1882
112,000
6
1898
Augusta & Knoxville mortgage.
....
68 1880
630,000
7
J. A J. N. Y., Nat. City Bank. July 1, 1900
General mortgage income bonds, co u p ................ .
1878 100 Ac.
1,500,000
6
J. A J. N. Y., 2>2 Broadway. Jan. 1, 1899
Portland A Ogaensb.— 1st mort., g old ......................
60 1870 500 Ac.
800,000
Jan., 1900
6 g* J. A J. Last paid July, 1885.
Consol, mortgage (for $3,300,000).........................
94 1871 100 Ac.
2,377,000
Nov., 1901
6 g. M. A N. Last paid May, 1883.
Portland A Rochester—Stock ($600,000)...................
53
-•••
590,800
3
Portland.
July, 1886
Portland Saco A Portsmouth—Stock...........................
51
iöo
1,500.000
3
J. A J.
Boston, Oflioe.
J»n. 15,1887
Portland A Willamette Valley— 1st mort., g o ld .......
29 i860
1,000
400,000
7 g. J. A J, N. Y., Farm. L. A Tr. Co. Jau. 1, 1906
Portsmouth A Dover—Stock.........................................
11
•• •
•
100
769.000
3
J. A J. Portsmouth, Treas,
Jan. 1, 1887
Portsmouth Ot. Falls A Conway—Stock....................
73
100
1,150,300
3
J. A J. Bost., Eastern RR. Co.
I
y i s , 1373
1st mortgage.............................................................
73 1877 500 Ac.
4*9 J. A D.
1,000,000
do
do
Juily 2, 1937
on first page of tables.

Pittsburg F o rt W a y n e S Chicago. Owns from Pittsburg, Pa., several roads dated June 15, ’81, and in ’83 Pitts. Brad. & Buffalo was
c
to Chicago, 111. 468 miles. The company made default Oot. 1,1857, and I acquired. The mortgage was executed Oot. 1, 1881, to the Mercan­
again in 1859,.and was foreclosed Oct. 24,1861, and reorganized under tile Trust Co., covering the proiected lines. In July. 1884. leased the
this title Feb. 26,1862. On June 27,1869, the company l eased all its Pittsb. Cleveland & Toledo RR., making a line to Akron, O. Operated in
road and property to the Penn. RR at a rental equivalent to interest, the Baltimore & Ohio interest. Stock, $7,250,000. In addition to above
sinking fund of debt, and 7 per cent on $19,714,286 stock, which was bonds, there are about $300,000 other issues, for which 1st morgt.
increased at that time from $11,500,000. The lease was transferred bonds are reserved. Guarantees, with Baltimore A Ohio, the Pittsburg
subsequently to the Pennsylvania Company. The lessees are to keep Junction bonds. On March 23, 1885, on application of the mort­
the road in repair and also pay taxes, expenses, Ac. The rental and gage trustees, James Callery and J. W. Chalfant of Pittsburg were
interest charge is about $3,126,000 per year, and the profit to lessees appointed receivers. The plan of reorgauizat'on (in the Ch r o n ic us, V.
had been large; in 1884 and 1885, however, there was a loss to lessee. 44, p. 370) proposes to issue a new 1st mort. gold for $10,000.000 at 4
The Pitts. Ft. Wayne & Ch ic. leases the Newcastle & Beaver Pal. and the per cent, and $5,000,000 of pref. 5 per oent stock, and $7,000,000 corn­
Lawrence roads, which in turn are leased again by~the Pennsylvania Co. ua n stock. In 1884-85 gross earnings, $844,793; net, $230,175. In
The first mortgage bonds are in six senes lettered A to F inclusive, 1885-86, gross earnings, $1.091,463; net, $334,028. James Callerv.
of $875,000 each series, the interest on “ A” series being payable Jan. Pres., Pittsburg. (V. 43, p. 399: V. 44, p. 370.)
and July; on “ B” it is February and August; on “ C” it is March and
P ort H u ro n Sc Northw estern.—Port Huron to East Saginaw,
September; on “ D” it is April and Ootober; on “ E” it is May and Nov.,
and on “ F” it is June and December. The second mortgage is also in 91 miles; Saginaw Junction to Sand Beach, 58; Port Austin to Palms,
35; Port Huron to Almont, 34; total, 218 miles. In 1884 gross earnings
six series of $860,000 each, lettered H to M inclusive (J omitted), and the
Interest is payable Jan. and July on “ G” series, Feb. and Aug. on “ H,” were $288,964; net earnings, $77,595; interest payments, $ l 33,187. In
March and Sept, on I,” April and Oot. on “ K,” May and Nov. on “ L,” 1885 gross, $297,762; net, $84,283; interest payments, $140,574.
and June and Dec. on “ M. The bonds are coupon, but may be regis­ John P. Sanborn, President, Port Huron, Mich.
tered payable to order. Of the 1st mortgage bonds, $1,633,500, and of
P ort Jervis M on ticello Sc N. V ,—Owns from Port Jervis, N.
the 2d mortgage $1,949,500, and $823,767 cash, were held in the sink­ Y., to Monticello, N. Y., 24 miles. Was sold in foreclosure July 16,1875,
ing funds Jan. 1, 1887., The special improvement stock is issued to and again sold out in Nov., 1886, and then reorganized under present
Pennsylvania RR. for improvements, &c., under article 16 of lease, title. H. R. Low, Middletown, President. Gross earnings in 1884-85.
which provides that the lessee may issue special bonds or stock, and $20,530; net, $5,355. ( V. 43, p. 309, 579.
says: “ The said party of the second part shall guarantee the payment,
P ort R o y a l Sc A n gn sta.—Owns from Port Royal, 8. C., to Augus­
■emi-annually or quarterly, thereon of such rate of interest as may be ta, Ga.. 112 miles. Leased in Sept., 1883, the Augusta & Knoxville road,
agreed upon between the parties hereto, to be paid by the said party of Augusta, Ga., to Greenwood, 8. C., 68 miles, for 99 years, at 4 per cent
the second part to the holders thereof without deduction from the on stock of $127,639, and assuming the bonded debt. Formerly Port
rent hereinbefore reserved; and the said special stock, or bonds, or Royal Railroad. Defaulted Nov. 1,1873, and receiver appointed May 9,
other securities, shall be issued only in respeot to improvements of and 1875. Sold in foreclosure June 6,1878, and purchased for the bond­
additions to the said railway which, and estimates and specifications holders, who organized this oompany. The Georgia Railroad was en
of which, shall have been submitted to and approved by the said party dorser on $500,000 of the old bonds. The stock is $750,000, and in
of the first part in writing.” * * *
June, 1881, a controlling interest was purchased by Central Georgia R R .
It was proposed to change the terms of the ease so as to issue bonds parties. Gross earnings in 1885-8 J, $452,113; net, $58,102. In 1884-85.
to the lessee instead of the special guaranteed stock, but this was not gross $412.164; net, $58,148.
consummated.
P o rtla n d S Ogdensburg.—Owns from Portland Me., to Fabyans,
c
Operations and earnings for four years oast were as below; in the gross 91 miles. It reaches the Vermont Division (now St. Johnsbury A Lake
the net profits on leased lines are included, and in the net the earnings Champlain) bv using 14 miles of the Boston Concord & Montreal RR.
paid to the C. & P. road are de iucted.
and a 3-mile link of its own. In 1876 the company made default on the
Passenger Freight (ton)
Gross
Available Div’d 1st mortgage interest and foreclosure proceedings were begun, but com­
Years. Miles. Mileage.
Mileage.
Earnings.
Revenue, p. ct promise was made by giving notes for overdue coupons up to July, 1878.
1882.... 468 140,057,682 991,907,501 $10,957,133 $4,368,465
7 Interest is not paid on the consolidated mortgage, of which the city of
1883..
.. 468 127,520,075
944,563,376
10,965,656 3,747,519
7 Portland holds $1,350,000. The city of Portland owned a controlling
1884..
.. 468 110,639,940
907,951,237
9,204,314 2,907,465
7 interest in the stock, which is $1,052,186.
1885..
.. 468 134,613,104
953,564,515
8,237,156 2,411,451
7
In March, 1834, a foreclosure suit was begun and receivers appointed
1886..
.. 468 104,370,187
903,083,277
9,129,340 3,083,012
7 and power to issue $200.000 receiver’s certificates was given by the
Pittsburg J u n ction .—From Monongahela River to Allegheny Court. In June, 1885, a decree-of foreclosure in six months was made,
River, Pittsburg, Pa., 41* miles, including side tracks and branches. and a plan of reorganization was stated in V. 41, p. 421; also the plan
Built under auspices of B. & O. and Pittsburg & Western, which compa­ of 2d mortg. bondholders in V. 41, p. 466.
nies made an agreement to pay $2 for each car, and guaranteed (separ­
Gross earnings in 1884-85 were $361,993; net, $99,157; gross in
ately) a minimum of $240,000 per annum. In 1886 gross earnings 1885-86, $361.376; net, $121,782. (V. 42, p. 126, 728; V. 437 p. 211,
were $176,000 and net $140,090. Common stock is $960,000. Preferred 672; V. 4 a , p. 119.)
stock, $480,000. (V. 44, p. 118.)
P o rtla n d S R och ester.—Owns from Portland, Me., to Roches­
c
Pittsburg Sc Lake E rie.—Owns from Pittsburg, Pa. to Youngs­ ter, N. H., 53 miles. The old company was put in the hands of a
town, Ohio, 68 miles; branch line to Newcastle, Pa., 2 miles; total, 70 Receiver February, 1877. Foreclosure suit was begun, but a settle­
miles, leased from Jan. 1,1884, for 99 years, the Pittsburg McKeesport ment was made in 1881 by which all the old stock and bonds were con­
& Youghiogheny R R , from Pittsburg to New Haven, Pa., 57 miles, with verted into the stock of the new company. In Nov., 1885, a lease to the
branches, 5 miles. Scrip certificates for $615,000, bearing 6 per cent Boston & Maine was made for 50 years. Gross earnings in 1885-86.
interest and payable at will, are also outstanding. This company is $191,503; net. $42,594. In 1884-85, gross, $181,900; net, $25,272.
managed in the interest of Lake Sh. & Mich. So.. Gross earn, in 1885, —(V. 43, p. 717.)
$1.201,312; net, $394,407. In 1886 gross, $1,376,861; net, $375,655.
P o rtla n d Saco Sc P o rtsm o u th .—Portland, Me., t i Portsmouth,
Jno. Newell, President, Cleveland, o . (V. 42, p. 1 2 4 ; Y. 44, p. 91.)
N. H., 51 miles. It was leased May 4,1871, to the Eastern Railroad
Pittsburg M c K e e s p o r t Sc IToughlogheuy.—Owns from Pitts­ Mass., at 10 per cent on stock. Lease rental changed May 21. 1877
burg to New Haven, Pa., 57 miles; branches, 5 miles; total, 62 miles. and now 6 per cent. The Boston & Maine Railroad leased the Eastern
Road opened Nov., 1883, and leased to Pittsb. & Lake Erie RR. for 99 in 1884 with all its leased roads.
years, 6 per cent on the $3,000,000 stock and principal and interest of
P ortlan d S W illam ette V a lle y .—Line of road from Portland,
c
the bonds being guar, by P. & L. Erie and Lake Shore & M. So. Cos., the Or., to Dundee, 28 > miles, connecting with Oregonian Railroad, with
3
guarantees being endorsed on the share certificates and bonds. Gross which it has a freight contract for 15 years. Stock, $130,000.
in 1885, $587,723; net, $320,270; paid interest and dividends,
P o rtsm ou th Sc D over.—Portsmouth, N. H., to Dover, N. H., 11
$359,173; deficit, $38,903. W. C. Quincy, President, Pittsburg, Pa. miles. Opened February 1, 1874, and leased for 50 years to Eastern
Pittsburg Painesviile S F a irp o rt.—Owns from Fairport. O., of New Hampshire at 6 per cent per annum on the stock. Operated
c
w) Youngstown, O., 6‘2 miles. Leased in Dec.. ’86 to the Pittsburg A now bv Eastern (Mass.) Frank Jones, President. Portsmouth, N. H.
western the 52 miles from Fairport to Niles. The Painesviile A YoungsP o rtsm ou th Great F a lls Sc C on w ay.—Owns from Conway
RR* Co. made default, and road was sold in foreclosure June 2, Junction, Me., to North Conway, N. H., 73 miles. The Eastern Railroad
and reorganized. Sold again in foreclosure June 3, 1886, for in Massachusetts has made a lease of the road for 60 years from Dec. 1
$400,000, and P. P. A F. Co. organized. Common stock, $800,000; 1878, with a guaranteed rental of $45,000 a year, which pays 4*3 per
pref., $250,000. (V. 42, p. 272, 575, 694.)
cent on $1,000,000 bonds, and the stock is to receive the same dividends
♦
V irgin ia Sc C harleston.—From South Pittsburg, Pa., as the stock of the lessees. Total stock, $1,150,300, of which lessees
Si ?5i°°town. Pa., 70 miles. The stock is $1,505,000. The bonds and own $551,300.
$1,251,050 of the stock are owned by the Penn. RR. Dividends of $1 50
Poughkeepsie H artfo rd Sc B o sto n .—Poughkeepsie. N. Y., to
pershare paid in March and September, 1885.
Boston Corners, 40 miles; Stissing to Pine Plains (track rental), 5 m iles:
. . " ‘ ‘ ■ J u rg & W e s t e r n .—Owns from Alleghany City, Pa., to New total, 45 miles. The Pough. & East. RR. was sold in foreclosure M ayl5,
v « d Pa->.°4 “ dee: Callery Junction to Mt. Jewett, 137 miles; Duck 1875. This road was sold in foreolc sure Jan. 26, ’84, under the 2d mort.
3 miles; Clarion Branch, 6 miles; other branches, 2 miles; and again foreclosed in 1886 under a small 1st mort. to give a clear title
total, 212 miles. Leases P. C. & Tol., New Castle Junction, Pa., to Val- to the property. (V. 38, p. 149.) In 1883 84, grot-s earnings, $47.803;
iey Junction, O., 77 miles, and uses 26 miles of Cl. Mt. Y. & Del. RR., net, $6,560. In 1884-85, gross. $43,050; net, $6,531. G. P. P tltor,
Akron, O., to Orville, O.; total, 315 miles. This was a consolidation of President. Poughkeepsie, N. Y. (V. 42 p. 397.) h M
i




84

IN V E S T O R S ’

[V ol.

SU PPLEM EN T

x l iv

,

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Tables«
(Bonds—PrlnoiINTEREST OR DIVIDENDS.
DESCRIPTION.
Sal.When Due.
Miles Date Size, or
Amount
Where Payable, and by Stocks—Last
Rate per When
Par
of
For explanation of column headings, Ac., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value. Outstanding
on first page of tables.

Poughkeepsie Hartford A Boston— 1st mort..............
Providence A Spring/.— 1st M. (end. by City Prov.).
Providence A W
orcester—Stock...................................

42
23
51

Raleigh A Augusta—Stock ($1.000,000 pref.)..........
Raleigh A Qaeton— 1st mortgage...............................
Reading A Columbia—1st m ort, coup, (extended)..

98
97
40
40

Lancaster A Reading, 1st mortgage......................
Rensselaer A Saratoga—Stock.....................................
1 st mortgage, consolidated (for $ 2 ,0 0 0 ,0 0 0 )........
Richmond A Alleghany— 1st mortgage, gold...........
Second mortgage, gold........... ...............................
Car trust certificates................................................
Ric/imona A Danville—Stock......................................
3d mortgage, (consol, of 1867) coup, or reg........
General Inori., gold (for $6,000,000).....................
Debenture mortgage bonds, cumulative........ .......
Consol, mort., gold ($15,000 per mile).............. .
Piedmont branch, 1st mortgage.............................
Northwestern, N. C., 1st mort., guar......................
Richmond York River A Chos., 1st mortgage........
do
do
2 d mortgage........
do
do
Stock guar. 6 p. ct
Kick’d Fredericksburg A Potomac— Bonds, ster........
Dollar loan................................................................

15
193
79
252
252

Bonds..........................................................................
2d mortgage, coupon (extended in» 1884)..............

Coupon bonds of 19 0 1 .............................................

Richmond A Petersburg—Stock..................................
1 st mortgage, coupon........ .....................................
Consol, mortgage ($50,000 are 7s)............. ........

756
141
141
48
29
38
38
....
....
25
25
25

1875
1872

$ ....

$16.000
500,000
2,500,000
_
_
1.242.000
1877
1,873,000
1 ,000
1 ,0 0 0 ,0 0 0
1873
1862 lOOAo.
650,000
1864
1 .0 0 0
350.000
1 ,0 0 0
1 ,0 0 0 ,0 0 0
1877
350.000
1873 10Ó Ac.
1 00
1 0 ,0 0 0 ,0 0 0
1 ,0 0 0
1,925,000
1871
1 ,0 0 0
4,982,000
1880
1 ,000
4,000,000
1881
....
393,000
....
1 00
5,000,000
1867 100 Ao.
627,500
1,0 0 0
1874
4,785,000
1 ,0 0 0
1882
(?)
1 ,0 0 0
1886
(?)
1 ,0 0 0
500,000
1868
1.0 0 0
500,000
1873
1 ,0 0 0
1873
400,000
1,0 0 0
400,000
1880
....
497,000
57,327
• •••
309,594
....
150.000
300.000
1 00
1 ,0 0 0 ,0 0 0
....
1 ,000
50,000
1870
319,000
1875 500 Ac.
1 ,0 0 0
1 00

7
7
3

6

'8 '
5
5

6
7
4
7
7 g.
6 g.
5
2
6
6 g.
6
5 g8
6
8
0

5, 0, ?'
8
0
3
8
6 &7

1905
J. & J. Providence,Am. Nat.Bh July 1, 1892
Jan. 1, 1887
Providence, Office.
J. < J
fe
1897
A. & O. Providence R. I.H.T.Co.
* J.
A 8.
A D.
& D.
& J.
& J.
& N.
& J.
& N.
—F.
A N.
& J.
& 0.
& O.
& O.
A O.
& J.
& N.
& J.
A J.
A J.
A J.
A N.
A J.
A O.
A N.

Jan., 1898
Mch. 1, 1912
June 1,1904
Dec. 1, 1917
July 1, 1893
Jan. 1, 1887
Nov., 1921
July 1, 1920
May 1, 1910
1890 to 1895
Aug. 15, 1882
N. Y., Central Trust Co. May 1, 1890
1915
do
do
April 1, 1927
do
do
Oct. 1, 1936
do
do
1888
N. Y., Cent. Trust Co.
1902
Richmond,
Jan. 1,1894
do
Nov. 1, 1900
do
Jan. 1,1887.
1901
London.
1895-’ 99 1902
Richmond, Office.
Phil..Townsend W. A Co.
1 890
1 901
Richmond, Office.
Jan. 1, 1887
Richmond, Office,
do
do
1880
May 1. 1915
do
do
Phila.,Pa.,A Ral’gh.N.C.
Phila., Co.’s Office,
do
do
do
do
do
do
N. Y., Nat. B’k Com’rce.
N.Y., Del.A H.Canal Co.
Last paid Jan., 1883.
Last paid Nov., 1882.

P rovidence Sc Springfield.—Providence, R. I., to Pascoag, 23 corporation in which the Richmond A Danville held a majority
miles. It was proposed to extend the road to Springfield, Mass., 80 miles ($7,510,000) of the stock. The Richmond A Danville Extension Co.
Stock is $516,850. In 1884-85, gross earnings, $92,700; net, $45,545; was organized to build Georgia Pacific RR., and large advances were
interest, $30 163. In 1885-80, gross earnings, $102,563; net, $38,032; made to it by the Richmond A West Point Terminal Co.
interest, $34,890Stock and B onds.—In Nov., 1886, negotiations led to a sale of a large
Provldence Sc W orcester.—Owns from Providence, R. I., to majority of the R. A D. stock to the Terminal Company, which then
Worcester, Mass., 44 miles: branches, 7 miles; total operated, 51 miles. became the principal oorporition, and afterward, in Feb., 1887,
Notes outstanding are $250,001. Stockholders can subscribe prior to exchanged its own stock for the R. A D. s‘ ock in the proportion of four
Feb 15,1887. for $5't0,000 new stock at par. In 1885-86 gross earn­ shares ot Terminal for one of Richmond A Danville. The R. A D. stock
ings were *1.245,711; net, $371,507. In 1884 85 gross, $1,077,lt 6 ; was thus ta^en and held by the Terminal Co.
The stock was listed on the New York Board in Oct., 1881. The high­
net, $321,507. (V. 43, p. 607, 738.)
prices since then
In 1881 (3 months), 99*a@
R a leig h Sc A u g u sta .—Owns from Raleigh, N. C., to Hamlet, N. C., est and lowest52@250; in 1883, have been : 1884, 32 @61' in 1885, 447a
171: in 1882,
47@72; in
98 miles; Hamlet to Gibson, 10 miles; total, 108 miles. Formerly
in 1886, 75@200.
Chatham Railroad, and is controlled by Raleigh A Gaston. Earnings @87; total authorized issue of general mortgage bonds is $6,000,000,
The
1883-84. $240,594; net, $20,611.
of which part is reserved to take up prior liens and the Piedmont RR.
R a leig h Sc G aston .—From Raleigh to Weldon, N. C.. 98 miles» bonds. The interest on the Debenture bends is strictly cumulative and
and Louisburg branch 10 miles. The stock is $1,500,000. In April, ’81, they carry unpaid the coupon of Oct., 1883, and all since, making 21 per
3 perot dividend paid, 3 in Oct., 1885, and 2 in April, ’ 8 6 . John M. Rob­ cent O ct, 1886, and in September, 1886, a proposal was made to the
inson, Pres’t, Baltimore. Gross earnings for fourteen months ending holders t >issue to them in exchange for each $ 1 ,0 0 0 bond and coupons
Dec. 31, 1885, $542,283; net, $168,148.
thereon $1,180 in new 2d mort. 5 per cent gold bonds, and a cash pay­
R eadin g Sc C olu m b ia.—Owns from Columbia to Sinking Springs, ment oi $92 50. The cons fiidated gold mortgage of 1886 was issued
Pa., 40 miles; branches, 8 miles; Lancaster A Reading Railroad, for an authorized amount of $ 1 1 ,2 2 0 .0 0 0 to take up the general mort­
leased, 15 miles; total operated, 63 miles. Stock, $958,268. The gage bonds, the debentures and their overdue interest, and the North­
road is controlled and operated by Philadelphia A Reading, but western N. C. RR. bonds, guaranteed. Also further issues at $15,000 per
accounts kept separate. The first mort. 7 per cent bonds due 1882 mile can be madeto retire bond of leased lines. (See V. 43. p. 275.)
Sept. 30,1886, was published
were extended 30 years at 5 per cent, and the 2d 7s due 1884 were ex­
717, containing the following :
tended twenty years at 5 per oent. Gross earnings in 1884-85, $356,1883-84.
1834-85.
1885-86.
108; surplus, $76,362; 1885-86, gross, $382,358; surplus ovt r interest,
Earnings $2,520,561
$2,660,755
. $2,646,434
Freight.....................
Ac., $60,«65.
960,325
998,022
985,708
Passengers................
Rensselaer S Saratoga.—Owns from Albany to Lake Cham­
c
76,042
67,153
65,866
plain, N. Y., 79 miles: T io / to Waterford Junction, N. Y , 6 miles Express ...................
163,452
171,312
167,086
Mail........................
Whitehall. N.Y., to Castleton, Vt., 14 miles; Eagle Bridge to Rutland
94,837
96,418
115,075
Vt., 02 miles; other, 2 miles; leased: Ballston to Schenectady, 15 Telegraph, rents, Ao.
17,792
19,517
19,545
miles; Fort Edward to Caldwell, 15 miles; total operated, 193
miles. It was a consolidation of several lines, and the Delaware A
$3,999,147
. $4,012,028
Hudson Canal Co. leased the whole March 1,1871, at a rental of 8 per
2,231,486
. 2,121,553
cent on the stock and interest on the bonds. In the fiscal year end­ Operating expenses.
ing Sept. 30,1885, the payments by the lessee company for rentals were
$1,615,760
$1,767,661
. $1,890,475
$754,276, leaving a deficit of $33,102. Operations have been:
INCOME ACCOUNT.
Passenger Freight (ton)
Div.
Gross
Net
1883-4.
1884-5.
1885-6.
Mileage.
Earnings. Earnings. p.c. Net revenue for the year ....$1,890,475
Mileage.
Years. Miles.
$1,767,661
$1,617,358
68,780,201 $2,14=9,043 $764,587
8
1892-83. 193 29,612,425
*1,470,908
*1,483,097
3 *1,467,658
...
70,3 .0,754
707,333
8
1383-84. 193 30,288,267
2,136.356
2.097,967
61,978.1*9
721.163
8
30,766,535
188485. 193
$.36,450
$184,561
___ $422,817
2,280,392
893,392
8
188580. 193
—(V. 42, p. 604; V. 43, p. 580.)
* The int. charge on debent’s is Included hero in full, but it was not paid.
R ic h m o n d Sc A lleg h an y .—Owns from Richmond to Clifton Forge, -(V . 42, p. 438, 575, 604, 613, 728 ; V. 43, p. 73. 163, 2 5, 516, 548,
230 miles; branch to Lexington, 19 miles; dock connection, 1 mile: 635, 7 17. 738; V. 44, p. 185, 308, 335.)
leased, Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. con­
R ic h m o n d Fredericksburg Sc P o to m ac.—Owns from Rich­
nection, 2 miles; total, 256 miles. The oompany was oliartered Feb. 27, mond, Va., to Quantico, 82 miles. In November, 1881, there were
1879, and acquired by purohase the properties and franchises of the Ja mes voted dividend certificates for $755,039 to be issued to holders of com­
River-A Kanawha Canal Co., and the Buchanan A Clifton Forge Railway mon stook (70 percent on each share), to represent money spent on
Co., including water rights on James River and terminals in Riohmond; the property out of earnings, and afterwards a similar issue on guaran
the cost of these in stock and cash was $6,588,609.
teed stook. The common stook is $1,030,100; guaranteed stock, $500,The stook is $5,000,000. In May, 1883, default on the mortgagelnter - 400 (6 per cent except $19,000 guar. 7 per cent), and “ dividend obliga­
est was made, and on June 23 receivers were appointed. In Deo., 1886, tions” $1,066,50 ’. In year ending Sept. 30, 1886, gross earnings were
receiver’s certificates were $493,717.
$505,412; net, $23 J.876; interest and guaranteed dividend charges, $85,The plan of reorganization allowed the first mortg. bondholders to take 204- balance net surplus, $148,672. In 1814-85 gross earnings, $471,a new 1st mortg. 5 per oent and $3o0 iu common stock. In Jan., 1887, 913; net, $191.815; interest paid, $50,624; guar, dividend, $34,83o;
the committee issued a circular stating that the pi in could not be surplus, $106,357. (V.43,p. 670.)
c 'rried out, and pro osinr im ortaut mo difleatious. and afterward in
R ic h m o n d Sc Petersburg.—Owns from Riohmond to Petersburg.
March they propose i to pay 2 percent on the new bonds in 1838 and 5
has earned
per cent afterwards, increasing the assessment on the stock. Earnings Va 23 miles; branch, 2 miles; total, 25 miles. The road In 1 88 0 -8 6
moderate dividends and the debt account Is very small.
from operations for three years ending Sept. 30 were:
gross earnings, $207,454; net, $95,598. In 1884-85, gross, $192,650;
1884.
1885.
1884.
Gross eam’gs.inol.rents,docks, Ao. $604,083
$589,591
$597,018 net, $95,168. (V. 42, p. 21; V. 43, p. 717.)
R ic h m o n d Sc W e st P o in t T erm in al R a ilw a y & W a r e ­
Operating expenses......... 420,104
404,918
438,350
house Co.—This company was incorporated by an act of the Legisla­
ture of Virginia of March 8,1880. It was the auxiliary corporation of
Net earnings................ $183,979
$184,673 $153,698
— (V. 44, p. 5 8 ,1 1 9 .)

(ticlim ou d Sc Dan v ille.—Line of
Road.—The main line
is from Riohmond, Va., to Danville, Va., 141 miles; branches,
12 miles; Danville, Va., to Greensboro, N. C., 47 miles; Salem Junction
to Salem, 25 miles; leased: West Point, Va.. to Richmond, 38 miles;
Goldsboro, N. C., to Charlotte, 223 miles; Charlotte, N. C., to Atlanta,
269 miles, and narrow gauge branches, 70 miles; total owned and
teased, 825 miles, of which 756 miles are operated directly by the Rioh­
mond A Danville Co. and the earnings based thereon, ana 69 miles,
mostly of the Atl. A Ch. narrow-gauge branches, are reported separately.
In April, 1386, the Virginia Midland RR. was leased for 99 years, and
the Greenville A Columbia, Charlotte Columbia A Augusta, and Western
North Carolina also leased for 99 years.
Org anization, Leases. Ac.—The Richmond A Danville RR. Co. was
chartered March 9,1847. Die Piedmont RR. is virtually owned and the
North western North Carolina is also owned. The Rich. York R. A Chesa­
peake is leased in perpetuity; the terms of the North Carolina RR.
and the Atlanta A Charlotte Air Line leases will be found under the
names of those companies. The Richmond A West Point Terminal Rail
way A Warehouse Co. (see title of that company below) was an auxiliary




Uü 1 Ü.1 UW1 IS» VvU
íbA. VUI. « /
2
.X

r,

,---- J
*

197 miles'; Chester & Lenoir RR. (narrow gauge), 90 miles ; Chester «
Cheraw (nar. g.). 29 miles; Atlantic Tenn. A Ohio RR., 47 miles; Laurens
Railway 31 miles ; Knoxville A Augusta RR., 16 miles ; Richm. A Meek.
Railroad, 31 miles; Spartanburg Union A Columbia 68 miles ; Northeast­
ern of Georgia, 61 miles; Western North Carolina Railroad, 274 nmes,
Asheville A Spartanburg, 50 miles; Virginia Midland Raúway, 405 .
miles; Georgia Pacific, 313 miles. The report for 1885 showed that
the Richmond A West. Point. Ter. R. A Wareh. Company owned
the i olio wing stocks, viz.: $2,607,150 Richmond A
inn
tension Co., $120.000 Northeastern Railroad of Georgia, $3,168,3W
Western North Carolina RR. common and $3,168,300 pref.; $ 1 0 0 ,(M
)0
Knoxville A Augusta RR., $1,302,400 C harlotte Columbia A Augusta
RR $3 577 333 Virginia Midland Railway, $1,001,000 Columbia A
G r^ n W e RR , $49 0^00 Dan. Mock. A So. W .RR.. $300,000 Richmond
A Mecklenburg RaUroad, $103,900 Rabun Gap Short Line, $85,900.
Terminal stock. $3,133,980 Georgia Pacific Railroad ; and the foi
lowing bonds : $100,000 Knoxville A Augusta 1st mortgage 6 per oenw,

M a r c h , 1887.J

R A IL R O A D

STO CKS

AN D

BONDS.

8 5

Subscribers w ill confer a great favor by giving Im m ediate notice o f any error discovered In tbese Tables.
DESCRIPTION.
Bonds—Brinci
INTEREST OR DIVIDENDS.
Miles
Size, or
pal,When Due.
Amount
of
For explanation of column headings, &o., see notes
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first pag? of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend
___
Richmond d W Pt. Ter. R. d W. Oo.—Stock.......... . . . .
t est
t
$100 $40,000,000
....
....
Preferred 5 per cent stock, cum ulative................
100
5,000,000
Collateral trust bonds...............................................
1887
1,000
8,500.000
6
F. A A.
1897
Rochester < Genesee Valley—Stock.............................
£
18
....
100
552,200
3
J. & J. N.Y.,by N.Y L.E.AW.Co Jan 1, 1887
Rochester <•Pittsburg—See Buffalo B. & P.
£
91
Rock Island < Peoria—Stock.......................................
t
1,500,000
J. & J. N. Y., Corn Exoh. Bank. Jan. 1, 1887
91 1878 25,000
1st mortgage.............................................................
150,000
10
J. A J.
Jan. 1,1900
Consol 1st m ortgage................................................ i 113 1885
5,000
450,000
6
J. A J.
do
do
Jan. 1, 1925
Rome <•Carrollton— 1st mort., gold...........................
£
22 1885 100 Ac.
150,000
6 g. J. A .1. N.Y. .Farm. L’n A Tr. Co.
Jan. 1,1916
Rome <•Decatur— 1st mort.,go d ($15,000 p m .)...
£
25 1886
1,000
375,000
6
J. A D N. Y , Amer. L’n A Tr. Co.
Dec., 1926
Rome Watertown d Ogdensburg—(stools..................... 642
t
100
5,390,100
2% J. A J. N. Y., Central Trust Co. Feb. 15,1887
1st sinking fund mort., Wat. A R. (extended).......
97 1855 100 Ac.
418,100
6
M. A 8.
do
do
Sept. 1, 1910
1st mort., sink, fund (2d mort, on 91 miles).......... 190 1861 500 Ac.
1,021,500
7
J. A D.
do
do
Deo. 1. 1891
2d mort. (3d mort, on 91 m iles)............................. 190 1872
1,000
1,000,000
7
J. A J.
Jan. 1, 1892
Consol, mort., (extended July, 1882, at 5 per ot.). 409 1874
1,000
6,457,000
5
A. A O.
do
do
July 1, 1922
Syracuse Northern (gold)........................................
45 1871
1,000
500,000
7
J. A J.
do
do
July, 1901
Rutland— Stock, common........................................... —
—
2,480,60 )
....
Stock, preferred.........................................................
4,000,000
Feb. 1,1887
General mort. (8 per cent, reduced to 6»................ 120 1872 100 &o.
1,500,000
6
M. A N. Bost. .Columbian N. Bk. Nov. 1, 1902
Hew 2d mort, in exch. for equipment bonds, &c. 120 1878 100 &o.
1,500,000
5
F. A A.
do
do
1898
Sacramento d Placerville -1st mortgage (S. V. RR.).
t
1855
1,000
400,000
10
J. A J. N. Y. Central Pac. RR.
1875
1st mortgage (S. & P. RR.)......................................
"48 1877
1,000
700,000
6
J. A J.
1907
Saginaw Valley d St. Louis.— 1st mortg., coup........
t
36 1872
1,000
446,000
8
M. A N. Boston, C. Merriam, Tr. May 1, 1902
St. Johnsbury d L. Champlain—1st M.,ooup. or reg. 120 1880 1,000
t
628,000
e g . A. A O. Bost., Am. L. A Tr. Co. Oct. 1, 1910
Consolidated mortgage (for $1,000,000)..............
1884
1,000
400,0 0
5
Q .-J .
Bostou.
April 1,1914
St. Joseph d Grand Island—Stock.............................
t
....
4.600,000
1st mort., gold, interest guar, by U. P ...................
252 1885
1,000
7,000,000
6 g. M. A N N. Y., Central Trust Co. May 1, 1925
2d mortgage, income................................................ 252 1885
1,000
1,680.000
5
J. A J.
July 1, 1925
Bonds on branch roads ($ 15,000 per mile) ..........
5
(Î)
St. Joseph d St. Louis—
t
Stock.....................................
"76
. ...
100
923,000
3
April, 1884
9 . Louis Alton d Terre Haute—S tock ....................... 331
1
t
100
2,300,000
Pref. st’ck (7 cumulative)..................................... .
331
100
2.468.400
2%
N. Y., Office 34 Nassaus o. May 1, 1886
1st mortgage (series A) sinkingf’d (seenext page)! 207 1862
1,000
1.100,000
7
J. A J.
do
do
.Tub’ , 1894
$368,000 Spartanburg & Asheville 1st mortgage 6 per cents, $1,325,000 mortgage on rolling stock ari l personal property. The annual report
Western North Carolina 1st mortgage and $1,110,000 2d mortgage, .or 1885-86 with income account was in V. 43, p. 72. (V. 43, p. 72.)
$1,603,553 Virginia Midland 6 per oent Aco. Incomes, $315,000
S a c r a m e u t o Sc P la c e r v ille .—Owns from Sacramento, Cal., to
Northeastern o f Georgia general mortg., $1,828,156; Georgia Pacific
2d inoomes, and $306,700 Blue Ridge RR. and miscellaneous county and Shingle Springs, Cal. 48 miles. This was a consolidation of the Sacra­
mento Valley and the Folsom & Placerville railroads, April 19, 1877.
township bonds, and $29,000 subscriptions.
In November, 1886, the Terminal Company purchased a large major­ Capital stock, $1,756,000. Gross earnings in 188 i, $128,177; net
ity of the R. & D. railroad stock, and a new board was elected. It was $15,083; deficit under oharges, $53,719. Gross, 1884. $130,411; net’
voted in December to issue $5,000,000 of pref. Terrntn il stock, secured $67,378; surplus. $1,378. Leland Stanford. President, San Frauolsoo.
S a g in a w V a lle y & St. L o u is .-O w u s from Itliaoa to PainsjSS
by the deposit in trust of 25,000 shares of R. & D. stock; and aftorwarl
the common stook was increased to $10,000,000. In Jau., 1887, $3,Oj O,- milep, and leases Alma to St. JLouts and Pains co Sagin iw, 9 miles : total
45 miles. Opened January. 1873. Capital stook, $264,804. In 1886’
000 of Hie E«st Tenn. Va. A Ga. first pref. stock ftas bought, giving con­
trol of that Co. for five years, and the b ilanoe of Rlohm. & Dauv. stook gross earnings were $9),131; net, $7,848. In 1885. gross $74,941was taken. See ttrms of this negotiation in V. 44, p. 119. See V. 43, net, $22,909; interest payments, Ac., $35,680. In July, 1879, manage’
ment was transferred to the Detroit Lans. & No.
p. 635.
St. J o h n s b u r y Sc L a k e C h a m p la in .-O w n s from Lunenburg.
The prices of common stock have been as follows: In 1881,122®
3741 in 1882, 23,®263; in 1883, 21439; in 1884, 12 <»32; in 1885, Vt.,to Maquam Bay, ou Lake Champlain, 120 miles, and branch from
*;
No. Concord, Vt., to East H »ve i, 11 miles; total, 131 miles. This was
13^4; in 1886, 27% *77%; in 1887 to March 19, 37% «53. (V. 4 2,
p. 57o, 604, 683, 728; V. 43, p. 487, 516, 6u9, 63o, 7l9 ; V. 44, p. 22, 91, the Portland & Ogdensburg, Vermont Division, and was reorganized
onder this title iu 1880. Preferred stock, $1,298,500; common stock
119,149,204,212,309,343.)
$2,550.000. Ia March, 1884. voted to Issue the consolidated bonds, o /
R o c h e s te r Sc Genesee V alley.—Owns from Avon to Rochester. which $600,000 are reserved to take up its first mortgage bonds.
N. Y., 18 miles. This road was leased July 1,1871, in perpetuity, to Of'eraUMi by Boston & Lowell as its Vermont Division, and all but $11,Erie Railway, and now operated by New York Lake Erie A Western. 000 of the 5 per cent bon is Issued are held by that company. In 1883Rental, $34,012. James Brackett, President, Rochester, N. Y.
84 gross earnings, $290,470; net. $61,827.
Rock Islan d Sc P eoria.—Owns from Rock Island, 111., to Peoria,
St. J o s e p h * G r a n d I s la n d . -Liueofroal, St. Joseph,M >.,to Grand
111., 91 miles; Rook Island A Mercer Co. RR., 22 miles; total, 113 miles. Islam , Neb., 252 miles. This company was organized in June, ’35. as suc­
The Peoria & Rock Island was sold in foreclosure April 4, 1877, cessor of the St. Joseph & Western, sold in foreclosure, and includes also
the bondholders becoming the purchasers. Gross earnings in 1884-5, tho Hastings A Grand Island RR. and the bridge at St. Joseph. The
$376,448; net, $111,262, out of whioh 5 per cent dividend paid. Gross road Is operated by the Union Pacific, which company guarantees the
in 1885-86, $495,867; net, $113,008; dividend paid, 5 percent.
interest on the 1st mortg. bonds. (See terms, &c., V. 40, p. 764.) In Sept.
Rome S C arrollton.—Road completed from Rome, Ga., to Cedar- 18 8 6 , it was proposed to begin the construct >m o ' branch roads, with’
c
town, 2z miles, and further projected to Carrollton, Ga. Stock, $609,000. bonds at $15,000 per mile, as per circular in V. 43, p. 3 )9. In the yearending Aug. 31, 1886, gross earnings were $1,171,501; net, $547,i>35 •
R o m e S D e c a tu r —Road in progress from Rome, Ga., to Decatur, interest on bon is (including $ 12,OOo on seconds), $462,00.). James h !
c
Ala., 145 miles, of which 25 miles from Rome were liuished March, Benedict, President, New York. Iu 1886 g oss earnings wore $1,169.1887. It is bonded at $15,000 per mile standard gauge road. The bo ;ds 425; net, $106,962 For one month from Jan. 1 to Jan. 31, 18 >7. gross
were oflered In New York by Gr .vesteon A Pell.
eaimings were $93,744. against $53,359; net, $30,686, against $7,196.
Rom e W a te rto w n Sc O gdensburg.—Operates from Niagara
23 60,’ 185, 300 .)WB
P- ^ 133,275’ 399’ 431’ 46°* 54SFalls to Massena Springs, 301 miles; Lewiston Junction to Lewiston, 3% VrXi,
“ lies; Pulaski to Syracuse, 38 miles; Richland to Rome, 41 miles;
* s t * h o u is .—St. Joseph, Mo., to No. Lexington, Mo.
Watertown Junction to Cape Vincent, 24 miles; DeKalb Junction to 76 miles. This was the successor to the St. Louis & St. Joseph
Ogdensburg, 19 miles; Wo idards to Oswego, 28 miles; Utica to Ogdens­ Railroad, sold in foreclosure February 8,1874. The St. Louis Kansas
burg, 13 1 miles; Carthage to Sackets H irhor, 3 i miles; Theresa Junc- City “ Northern took a lease of the road for 99 years July 1,1874
Pj® 1? Clayton, 16 miles; Rochester to Windsor Beach, 7 miles; total, The terms of the lease were an annual payment of 30 per cent of gross
642 miles. The Utica & Black River road and branches were leased in earnings, but $25,000 was guaranteed. In July, 1886. the road was sold
April, 1886, the R. W. A O. guaranteeing fixed charges and 7 per oent out and reorganized. (V. 42, p. 397; V. 43, p. i03 ; V. 44, p. 1 49 .)
per annum on the stock.
r
A 1*0 “ & T e r r e H a u t e .—Owns from Terre Haute.
TheR. W. A O. was a consolidation Oct., 1861, of the Watertown A Ind.’ to Last St. Louis, 193 miles ; proprietary line, East St. Louis to
g°me and the Potsdam A Watertown railroads. The Lake Ontario Shore Bellevile, 1.4; leased lines—Bolle ville & Southern 111. RR., 56; Belleville
Kaimiad was acquired January 15,1375; the Syraouse Northern, Aug. & Eldorado road, from Du Quoin to Eldorado. 50; Bellev. & Car. RR .
l, 1875. The Oswego & Rome was leased January 1,1866, at 8 per oent from Belleville to E. Caroiidelet, 17; total, 331 miles. This cdmpauy was a
on stock and interest on bonds. The Niagara Falls Branch road was reorganization, Feb. 18,1861, of the Terre Haute Alton & St. Louis RR.
‘eased Nov. 1,1881, at 7 per cent on Its stock of $250,000.
P io
¿W,11018 Js leased to this company for 999 years from Oct.
1he company was in default on coupons of the consol, bonds after 1,1866, and the Bellev & Caroiidelet for 9 33 years from Jan., 1883. at
April i 1878, but afterward gave new sheets of coupons, 5 per cent a rental of $30,000 per year, which Is a guarantee of int. on the bonds;
interest; also funded the 33% per cent overdue interest (to July, 1882.) the stock of $300,000 is owned by the 8 c. Louis A. & T. H. The St. Louis
into 7 per cent income bonds and assessed 10 per cent cash on stock.
boutnem K L ana 1 as id lines, 50 miles, was Leaser! in D^c., 188 d for
-i.
8 present management of the company succeeded the management 30 pf r ceut of gross earnings, mioimum to be $32,000. The main
which was identified with the Del. Lack. & West, interests. Charles »
t ■ 4 fton * T;
*£
was leased Nov. 1, 1882, to the new Indiana».
Parsons, New York, President.
& St. L. Railway and the deve. Col. Cin. & Indianapolis jointly. Under
In April, 1886, the income bonds were offered an exchange of 40 per this new lease the rent guaranteed is $450,000, and that amount Is all
cent in the 5 per cent consol, mort., due 1922, and 60 per cent in stock, Chat is to be paid unless the gross earnings exceed $1,750,000 in anv
and bonds are about all exchanged.
year ending Oct. 31, and then 20 per cent Is to be paid of the excess of
«^mnT,iartei ending Dec- 31 gr<>33 earnings were $782,243, against gross earnings over $1,750,000.
This company obtained a decision against the two former solvent
i
$181,106, agaiast$! L6,553; surplus over fixed charges,
»134,911, against $66,051.
lessee companies for $221,624 against each; but on appeal to theU
expenses and oharges in 1883-6 and 1884-5 were as below, S. Supreme Court tins was reversed In April, ’86. The Belleville Br. and
including the Utica A Black River for six months in 1835-6:
Extension are operated separately by this company, The Beileviile &
Eldorado was leased for 985 years from July 1,1880, at a rental of 30
0 nera S ' 11“ 8.............
$2,406/793
$R702/732 Per cent on the gross earns., but $15,400 per year guarant’d. The Belleoperating expenses and taxes.................
1,495,298
1,180,231 ville & Carondelet ia leased at $30,000 per annum.
iund held of the first mortgag i bonds $636,000
$522,'01 and $434,519 cash. The preferred stock has a prior right to a cumula­
40,6 iO tive dividend of 7 per ceut before any is declared on common. It Is
also convertible into com mon at par ; hut shall nor receive anv dividend
$563,141 as common stock for the time it was held as preferred. In Jan., 1881
D ld u ft-C
°me.............
$941,244
the company declared 3 per cent in cash on the preferred stock and
$483,442 afterward settled the remaining 55 per cent of accumulative dividends
centals....................................
189,370
64,250 by the issue of income bonds.
The annual report for 1885 was in V. 42, p. 603.
The Cairo Short Line Division, including the roads directly operated
.............................................
$693,480
$547,692
ouipius for year................................
$ 2 47 ,76 4
$15,449 by this company, made the following exhibit :
EARNINGS, EXPENSES AND RENT OP LEASED LINES.
245 48« g ò ^74787L30,5’ 366’ 464, 488*549, 604; V. 43, p. 217, 218, ~
440,488, 635, À ; V. 44, p. 91,119, 244.)
.
1883.
1684.
1885.
$832,468
$741,050
$766,316
Gross earnings........... . ................
BeBow’s Falls, Vt., to Burlington, Vt., 12u Operating expenses and taxes........
425.635
4 )6,160
3 9 7 ,3 4 7
S j C
Addison RR., 15 miles; total, 135 miles. This road has been
for Q “ 5 “F f r i g e s . It was leased to the Cent. Vermont in Dec., 1870,
oga
Net earnings.............................. $406,833
$334,989
$368,969
of
the lessee became insolvent, and finally a modification Rent leased roads............................
200,897
203,971
203,381
and « « oruf
$250,000 per year a< a minimum rental
uu »s-OOO for organisation expenses. The 5 pe- cent 2ds Mv f. g,rS>
Net revenue....
$205,935
$131.018
$165,587




86

IN V E S T O R S ’

SUPPLEM ENT.

[Y ou XLIV

Subscriber» w ill confer a great favor by givin g im m ediate notice of|any error discovered in these Tables.

a tmdII.
S JU
DESCRIPTION.
Miles Date Size, or
Amount 1
Pai- Outstanding;
of
For explanation of column headings, &c., see notes of
Road. Bonds Value.
on first page of tables.
8U Louis Alton < Terre Haute— (Continued).
&

1st mortgage (series B) sinking f’d ]
. or may f
2d mortgage, preferred (series C).. w ,; ' j e„ w J
2d mortgage,preferred (series D).. f endorsen/t 1
2d M., incomes........................... . - - - J
L
Dividend bonds, income not cumulative................
Belleville & Carondelet, 1st mort............................
8t. Louis Arkansas < Texas—
6
Stock...........................
St. L. Ark. A Texas, 1st M., gold............................
2d mort. (income till ’89), gold...........................
Bt. Louis & Cairo— 1st M., income (not cumulative)
le t mort., guar., M. & O..........-...............................
8t. Louis Ft. Scott d Wichita— 1st M. ($15,000 p. m.)
2d mort. (85,000 p. m.),................... - - - - - - - •Bt. Louie & Hannibal— iBt mortgage ($600,000)..
Bt. Louis Keokuk < N. W.~ Stock($l,350,000 is pref.)
£
1st mortgage, gold...........................................
Income bonds...................................................
81. Louis Salem < Lillie JKocfc—1st mortgage............
t
Bt. Louis d San Irancisco.—Stock, com m on..........
t
Preferred, 7 per cent, not cumulative..................
1st preferred, 7 per cent, not cumulative.............
1st mortgage (South Pacific), gold, (land grant)...
2d mortgage bonds, A, gold........................... —
do
do B, gold...................................
do
do C, gold...................................
Equipment mortgage, gold...................................
Mortgage on Mo. & Western RR., gold................
Collateral trust bonds, gold ..................................
Bt. Louis Wichita A West., 1st mort., gold, guar.

1862 $500Ac. $1,100,000
1862
1,000
1,400,000
1862
1,000
1,400,000
1862 500 Ac.
1,700,000
1881
1,357,000
1,000
17 1883
485,000
735
100
9,555,900
1,000
735 1886
9,529,000
1,000
735 1886
9,529,000
144 1881
1,000
2,600,000
161 1886 500 Ac.
1,400,000
1,000
251 1880
3,777,000
1.000
1,000,000
85 1886
370,000
184
1,000
2,700,000
1,000
135 1876
1,620,000
1,000
135 1876
1,080,000
1872
1,000,000
814
15,500,000
10,000,000
4,500,000
7,144,500
293 1868 500 &c.
293 1876 100 &c.
500,000
2,766,500
293 1876 500 Ac.
233 1876 500 Ac.
2,400.000
1,000
1880
681,000
1,000
84 1879
1,090,000
100 1880
1,000
1,270,000
145 1879
2,000,000

207
207
207

Bonds— Princi­
IINTERESTJOR DIVIDENDS.
pal,When Due.
Where Payable, and by Stocks—Last
Dividend.
Whom.
Cent. Payable
7
7
7
7
6
6

A. & O. N.Y., Office 34NassauSt. July. 1894
1894
do
do
F. & A.
1894
do
do
M. A N.
1894
do
do
M. & N.
Jan. 1, 1894
do
do
June 1
June 1, 1923
do
do
J. A D.

6'g6 g5 g.
4 g.
7
6
7

M .& N . N. Y., Central Trust Co
F. & A. Mercantile Trust Co.
A. A O. New York or London.
New York Agency.
J. & J.
A. & O. New York, Moran Bros
M. & N. Mercantile Trust Co.
J. & J.

May 1, 1936
May 1, 1936
1921
Jan. 1, 1931
Oct. 1, 1910
Nov. 1, 1910
1936

"fg .
7
7

J. '& ' j
J. & J
A. & O N.Y., Union Trust Co.

Jan. 1, 1906
Jan. 1, 1906
April 1, 1902

F. A A. N. Y ., Oflioe 15 Broad St.
do
do
J. A J
do
do
M. & N
do
do
M. & N
do
do
M. & N.
do
do
J. & D.
do
do
F. & A.
do
do
F. & A.
do
do
M. & S.

Feb. 10, 1887
July, 1888
Nov. 1. 1906
Nov. 1, 1906
Nov. 1. 1906
June 1. 1895
Aug. 1, 1919
1920
1919

3 is
6 g.
6 g.
6 g.
6 g.
7 g.
6 g.
6
6

62 miles. The tracks of the Atchison Topeka & Santa Fe are used
SOURCES OF NET REVENUE.
............. $46,911 from Wichita to Halstead, Kansas, 25 miles. This oompanyalso operates
Belleville branch, separate ea rn in gs......
Belleville »ranch, on business contributed by leased lines.......
26,652 the finished portion of the Atlantic & Pacific road. Central Division, from
Leasedroads, after deducting expenses and rentals....................... 57,455 Seneca, Mo., to Sapulpa, in the Indian Territory, 112 miles.
O r g a n i z a t i o n , Ac.—This company was organized Sept. 20, 1876, as
Total net revenue........................................ ........................... $131,018 successor to the Atlantio & Pacific in Mo. The latter embraced the South
Pacific RR. (originally the Southwest Branch of the Paciflo RR. of Mo.,
—(V, 42, p. 126, 550, 603; V. 43, p. 719.)
St. L ou is A rkan sas & T e x a s .- ( t o M ap .)-R oad fm m Birds chartered Dec. 25,1852), which was consolidated with the Atlantic &
Point. Mo., opposite Cairo, 111., to Texarkana, Tex., 418 miles, and Paciflo road Oct. 25, 1870. The Atlantio & Pacific road and lands were
thence by the Texas road to Gatesville, 305 miles; total, main line, 723 sold in foreclosure Sept. 8, 1876, and the St. Louis & San Francisco
_
miles: branches, Paw Paw Junction to New Madrid, 6 miles; McNeil beoame possessor of the property.
On January 31, 1880, an agreement was entered into with the
toMagnolia, 7 miles; total. 735 miles. Extension from Mt. Pleasant to
Atchison Topeka & Santa Fe for construction of a through line to the
Sherman. 115 miles, is in progress. The road was opened in 1883.
The road in Texas was foreclosed Deo. 1,1885. The Mo. & Ark. Div. was Pacific, and in August, 1884, further contracts entered into with the
sold on Feb. 27,1886. The present organization, whion was formed in Southern Paciflo of California and the Atchison Topeka & Santa Fe.
In January, 1886, leased for 98 years the Kansas City A Southwest­
1886 after the foreclosure of the Texas & St. Louis, consists of two
corporations, the one owning the road in Missouri and Arkansas and ern RR., from Beaumont. Kansas, to Cale, in Butler County, 62 miles, at
the other the road in Texas. By the laws of Texas, railroads within a rental guaranteed to pay the interest on the 1st mortgage bonds. The
that State cannot be consolidated with other roads outside the State, bonis ore redeemable on notice at 110. The stock of the St. L. K. & S. W.
therefore it was provided that the Co. in Mo. and Ark. should issue its (Ark. City to Caldwell, Kan., 47 m.) is owned and the bonds guaranteed.
S t o c k s a n d B o n d s .— The first preferred stock has prior right to 7 per
stock to the Co. m Texas, and the latter Co. should issue its own certifi­
cates for suoh stock.
__
^ ^
.
.
, oent (non-cumulative); then pref. entitled to 7 per cent; then common
The new companies issue six per cent 50-year first mortgage bonds entitled to 7 ; then all classes share in any surplus. The terms of
to amount of $13,000 per mile; six per cent 50-year second mortgage the preference of tfie first preferred stock are stated in the certificates
bonds, $13,000 per mile; and stock $13,000 per mile. Bonds and stock as follows: “ This stook is entitled to a dividend of 7 per cent per
on future extensions to be at the same rate. The stock issued by the annum, derived by the company from net revenues from all sources
Missouri and Arkansas Company was transferred to the Texas Com­ each current year (remaining after the payment of interest upon all
pany, which latter has issued its own stock for the same. Till 1891 the liabilities) * * * and by resolution of the company has priority of lien
control of the entire road is to be vested in the committee, and for this on net revenues for such dividend over any mortgage bond that may be
purpose the stock is deposited with a trust company. For stock so de­ issued by the oompany subsequent to the creation of this stook.”
posited negotiable certificates are issued, and designated as “ stook “ Net Revenue” in this clause is defined by the oompany as meaning net
trust certificates.” The first mortgages of the companies in Mo. A A r k revenue remaining after the payment of interest on all liabilities.
1
Dividends have been paid on first preferred stook in 1881 and sinoe
and in Texas are deposited with the Central Trust Co.; the 2d morts, of
_
both divisions are deposited with the Mercantile Trust Co., and eaoh of at 7 per cent per annum.
The range of the stocks yearly since 1877 has been: First preferred in
these trust companies has issued against these mortgages so held its
9
coupon trust certificates for $ 1 ,0 0 0 each, entitling the holder of each 1878(4 months), 5 i « ® l l ^ ; in 1879, 93t®781 ; in 1880. 60® 100; in
class to the security of the mortgages on both the Mo. & Ark. and the 1881, 90®115ia; in 1882, 79%® 106*0; in 1883, 87®100i*; in 1884,
a;
a;
Texas divisions. These are the certificates dealt in at the Stock Ex­ 70®961 in 1885, 79 3 99 ^ ; in 1886, 97®1181 in 1887 to Mch. 19,112
change. In 1885 gross earnings were $1,300,828; net, $67,644. In
Preferred stock in 1878, l 1a®5:,4; in 1879, 41
6®601 ; in 1880. 33®
*
1886 gross earnings were $1,823,194; net, $357,911. (V. 42, p. 217,
*
a;
305, 488, 519, 575, 632; V. 43, p. 50,103, 275, 459, 488, 608; vT 44, p. 65; in 1881, 55@811 ; in 1882, 43®66*9; in 1883, 40®591 in 1884,
24^® 50; in 1885, 30®497e; fe 1886, 37*s®7238; in 1887 to Moh. 19,
91,149.)
St. L ou is Ac C airo.—This road extends from Cairo to East St. Louis,
Common in 1878 (3 months), 1^a®4 ^ ; fe 1879, 3^953; fe 1880, 25^4
152 miles, with a branoh to High Prairie, 9 miles. The former Cairo A
in 1884,
Bt. Louis made default April 1, 1874, and was sold in foreclosure July, ® 4 8 ; in 1881, 39@55; fe 1882, 31@4678; fe 1883. 20^33614; Mch. 19,
11193291*; fe 1885,17ifl®24i9; in 1886,17@36%; in 1887 to
1881 Stook is $6,500,000. In Jan., 1886, a lease was negotiated for
30 3 34.
45 years to the Mobile & Ohio RR. on the basis of a rental of 25 per
The trust bonds
7 per cent
cent (-to, 40) of the gross revenue of the whole line, Mobile to St. mortgage bonds of of 1880 are secured by deposit of The general
the auxiliary roads constructed.
Louis, this rental being guaranteed by the lessee to amount to $165,000 mortgage of 1881 (supplemented by that of June, 1882) for $30,000,000
per year. The Issue of $2,600,000 income bonds is to be retired with is made to the U. S. Trust Co. as trustee, and $17,261,000 reserved
part of the $4.000,000 mortgage bonds, which are guaranteed by the to take up all prior debt. This general mortgage is a first lien on 179 miles
M. A O. Gross earnings in 1883-84, $375,784; net, $78,837; interest. of new road, besides oovering the mileage on which are the prior liens,
$78,000; surplus, $837. (V. 42, p. 22, 93, 126, 431, 775, 783.)
and the $5,000,000 of 5 per cents issued under this mortgage in 1886
St. L o u is F o rt Scott & W ic k lta .—From Fort Scott to Anthony, were for the construction of 185 miles road, including the line from Fort
Kan., 216 miles ; GilflUan Spur, 2 miles ; Eldorado to Newton, Kan., 32 Smith, Ark., to Texas.
.
miles; total, 251 miles. Stock, $6,614,885. Gross earnings in 1885,
The St. Louis Kansas & Southwestern bonds are issued at $15,000 per
8663 051; net, $152,282; deficit under interest, Ac., $84,459. Gross in mile, and are redeemable at 110 on any interest day, at four weeks
1886. 8783.033; net. $178,927; deficit under interest, $152,889. See
statement in Missouri Pacific report, V. 44, March 26,1887. (V. 42, p n TheFort Smith & Van Buren Bridge bonds are guaranteed by the Bt.
632, 661; V. 43, p . 459, 635; V. 44, P - 149.)
L. A S. F. Co., and have a sinking fund of 5 per cent yearly after 1889
St L ou is & H a n n ib a l.—Owns from Hannibal, Mo., to Gilmore, on to purchase the bonds at 105; they are redeemable also at 110 at co. s
Wabash St. Louis & Paoiflo, 82 miles. This company is successor to the option. The land department assets were estimated Dec. 31,1885, at
former St. Louis Han. & Keokuk, sold in foreclosure Deo. 8,1885. The $896,183, including ”145,090 acres of land and $324,335 fe land con­
principal owners were Mr. John I. Blair and tho estate of Moses Taylor tracts and $147,459 cash.
m New York, who beoame the purchasers. The stook is $1,000,000 au­
O
San Francisco
thorized and $452,000 issued. Gross earnings in 1885, $106^969 ; oneperations, F inances, &c.—The St. Louis A the Southwest, has been
of the
reorganized
of
operating expenses, $216,049; deficit, $109,081. John I. Blair, Presi­ made good successfulfe traffic and railroadswithout very heavilyand has
progress
income,
increas­
dent. (V. 42, p. 366.)
ing its annual interest charges. The relations with the Atlantio & Pacuio
St. L ou is K e o k u k & N orth w estern .—Owns from Keokuk. Co., as a part owner of its stock jointly with the Atoh. Top. & S. F. Co.
Ia. to St. Peters, 135 miles ; leased Keokuk to Mt. Pleasant, 49 miles are somewhat complicated, and large advances have been made to the
and uses Wabash traoks from St. Peter’s, Mo., to St. Louis, Mo„ 31miles A. & P . Co. (See V. 40, p. 594.)
total operated, 215 miles. The Miss. Val. & Western RR. was sold April
INCOME ACCOUNT.
14.1875, and this company organized July 1,1875. Gross earnings year
Receipts1882.
1883.
1884.
18851884 8411,494; operating expenses, $412,988; deficit, $1,494. Gross
Gross earnings........ $3,572,240 $3,896,565 $4,643,596 $4,383,406
earnings in 1885, $585,247; net income, $82,441; payments (no interest
paid). $116,984 ; def., $34,543. W. W. Baldwin, Pres’t, Burlington, la. Net earnings............ $1,946,459 $2,073,437 $2,508,218 $2,433,662
St. L o u is Salem & L ittle B o c k .— Owns from Cuba, Mo., Other receipts........
56,857
24,376
14,836
19,782
to Salem, Mo., 42 miles, and branches, 13 miles ; also 17 miles of branches
controlled ; total operated, 72 miles. Reaches St. Louis by St. L. & San F,
Totalnetincome.
$2,003,316 $2,097,813 $2,523,054 $2,453.444
b b . Stook is $1,000,000. Earnings in 1885, $47,222; net, $15,407
Road was sold m foreclosure in Sept., 1886. See V. 43, p. 400. A. L, InL^SkffeL ^rents
$1,099,343 $1,343,436 $1,826,203 $1,751,215
Crawford, President, Newcastle, Pa. (V. 42, p. 754; Y. 43, p. 400,424.)
D iv s . on lstp f. stock.
315,000
315,000
315,000
315,000
St. L o u is & S an F r a n c is c o . — fSee map.)— L i n e o f R o a d —This is R a t e of dividends...
7
7
7
7
a considerable system of railroads, forming part of a through route to the Miscellaneous..........
85,410
11,004
242
4,732
Pacific coast. The main line is from St. Louis, Mo., to Seneca, 326 miles;
branches—Granby branch, l 1 miles; Oronogo, Mo., to Joplin, 10 miles ;
»
Total disbursem’ts. $1,499,754 $1,669,440 $2,141,445 $2,070,947
Girard to Galena, Kan., 47 miles ; Carbon Branch, 3 miles ; Peirce City Balance, surplus.... $503,562
$381,609 ^
o Wichita, Kan., 218 miles; Plymouth, Mo., to Fort Smith Ark., 1341 —(V. 42, p. 339, 6 0 2 , 604, 775; V. $428,373 571, 579, 608; $382.497
*
43 p. 24,
V. 44 ,p.
.»UAH- Springfield to Chadwick, Mo., 35 miles; Springfield to Bolivar,
- * Biffi
•
m
Mo., 39 miles ; total owned, 815 miles ; leased, Beaumont to Cale, Kan 204>)




-----------— -----------------------------

M a r c h , 1887. |




R AILROAD

STOCKS

AND

BONDS,

87

Tùity

! ST. LOUIS & SAN FRANCISCO
RAILWAY

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Solomon Cit;

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JEFFERSON C1TÎ

.olden
'llarrison V.

Ellsworth

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ndependenc

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A T L A N T IC & P A C IF IC 1

[V o l .

CONTINUATION
or TH
E

AND CONNECTIONS.

y Guidon

Et.T.owson

Mar ch , 1887. J

R A IL R O A D

STOCKS

AN D

89

BONDS.

S u b scrib e rs w ill confer a great favor Jby givin g Im m ediate notice o f any error discovered In tbese Tables.
DESCRIPTION.
on first page of tables.

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

gl Louis A San Francisco.— ( Oontinued)Efluipment Trust.............. — --- -- ............
Kansas C. & Southw., IstM., gold ($12,000 p. m.),
St L. Kan. & S. W., 1st M., g.. guar. ($15,000 p. m.
Ft. Smith* Van Bur.B’dge, 1st mort.. gold. guar.
at Louis Vandalia A Terre Haute— 1st Ml s. f. guar.
2 d moit., sink, fund ($1,600,000 guar.)...............
Bt. Paul A Duluth— Preferred 7 p. c. stock & scrip
Common stock.........................................................
1st mort. bonds, coup, or reg.................................

179
63
47
158
158
225
225
169
21

25
Duluth Short Line, 1st mort., coup., guar.............
Bt. Paul Minneapolis A Manitoba—Stock................ . 1,761
76
2d M., and 1 st on road from St. Paul to W atab__
656
1 st mort. land grant sinking fund, gold...............
656
2 d mort.. gold............................................................
Dak. Ext., 1st mort., gold ($12,000 per mile)........ 473
Consoi mort.,gold ($13,341,000 are 6 s), cp. or reg. 1,849
Minneap. Un. RR.. 1st M., gold,guar.($3,000,000j ....
Bt Paul A No.Pac.—Stock ($10,000,000 authorized) 152
Gen. M., gold, Id. gr., coup, or reg. ($10,000,000) 152
Western RR., Minn., 1st mortgage, RR .......
60 !a
116
116
1 st mortgage, new...................................................
93
Ban Francisco A North Pacific— Stock.....................
286
Savannah Florida A W
est.— At. & G. consol, mort.
58
South Georgia & Florida, JLst mortgage................
58
do
do
2 d mortgage................
525
Bay. Fla. & W., 1st mortgage................................
30
Savannah Dublin A Western—1st mortgage..........
60
Savannah Griffin AN.Ala.— 1st mortgage...............
Schenectady A Duanesburq— 1st M., guar. D. & H_
14

1881
1884
1886
1886
1885
1867
1868
1881
1884
1886
1862
1879
1879
1880
1883
1882
1883
1877
1869
1867
1869
1869
1884
1871
1874

$ 1,0 0 0 $12,739,000 5 * 6 g. J. * J. N.Y. , Company’s Offloe.
372.000
6 g. A. * O.
do
do
1 ,0 0 0
744.000
do
do
> g . J. & J
1,0 0 0
735.000
r 6 g. M. & 8 .
do
do
1 ,0 0 0
475.000
6 g. A. & O.
do
do
1 ,000
1.899.000
7
J. * J. N. Y , Centra] Trust Co.
1,0 0 0
2.600.000
7
M. & N. N. Y., Third ST Bk.
at.
5,376,970
Sia J. & J. N .Y , Fourth Nat. Bk.
4,055,407
1 ,0 0 0
1 ,000,000
5
F. & A. N.Y., Central Trust Co.
1 .0 0 0
210.000
6
J. & J.
do
do
1 ,0 0 0
500.000
5
M. * S.
do
do
100
20 , 000,000
Q.—F.
1>8
N.Y., 63 William St.
1 ,0 0 0
366.000
7
J. & J.
do
do
1 0 0 &o.
5.250.000
7 g . J. & J. New York and London,
1 ,0 0 0
8 , 000,000
6 g. A. * O.
do
do
1 ,0 0 0
5.376.000
6 g. M. & N. N. Y., 63 William St.
1,0 0 0
18,690,000 4*8 * 6 g. J. & J.
do
do
1 ,0 0 0
2.150.000
6 g. J. & J.
do
do
1 00
5.000.
000 1*9
Q .-J . N.Y., Winslow, L. * Co.
1 ,0 0 0
6.000.
000 6 «• F. & A.
do
do
1 ,0 0 0
438.000
7
M. & N.
do
do
50
1,068,832
3
Moss N. Bk.,Sand’ky,0.
1 ,0 0 0
2.300.000
7
J. * " j . N. Y.. Union Trust Co.
....
3.750.000
500 &o.
1,730,500
7'
J. &' 'J. N.Y.,H.B.Plant,*Savan
1,0 0 0
464.000
7
M. & N.
do
do
1,0 0 0
200.000
7
M. & N.
do
do
1 ,0 0 0
1.925.000
6
A. & O.
do
do
450.000
6
1 ,0 0 0
500.000
7
J. '& "j. Savannah, Cent. RR.Bk
1 0 0 * 0.1
500.000
6
M. & S.; Del. * Hud. Canal Co.

July 1. 1931
A.&0.5 p.c. ea.
Jan. 1, 1916
Sept. 1, 1916
April 1. 1910
Jan. 1, 1897
May 1, 1898
Jan. I, 1887
Aug. 1, 1931
Jan. 1, 1894
Sept. 1,1916
Feb. 1, 1887
July, 1892
1909
Oct. 1, 1909
Nov. 1, 1910
July l, 1933
July 1, 1922
J a n , 1886
Feb. 1, 1923
May 1, 1907
Feb. 1, 1886
Jan., 1909
July, 1897
May 1, 1899
May 1. 1899
April 1, 1934
July 1, 1891
Sept. 1, 1924

St. Lonis V an dalia B Terre H a u te.—Owns from East St
e
1883-84. 1884-85. 1885-86.
1882-83
Louis to Indiana State line, 158 miles. Road opened July 1, 1870
$
$
$
It is leased to the Terre Haute & Indianapolis Railroad at a rentalil Net earnings..,................. 4,553,468 4,327,478 4,266,237 3,4837084
of 30 per oent of gross earnings. For the year ending October 31, 1886, Revenue from Land Dep’t
813,945
418,270
131,292 350,114
the rental received was $443,499, and the year’s charges against this sum Other receipts....................
92,106
214,434
66,284 171,116
were $370,691, leaving a surplus for the fiscal year or $72,808. In
Total inComfl. . . .
5,459,519 4,960,182 4,463,813 4,004,31*
operating this road the loss to lessee has been m 1882-83, $115,399;
Disbursements-- ............
in 1883-8, $71,549; in 1884-5 profit $39,169; in 1885-6 profit $23,687.
The annual report for 1885-86 was published in the Chronicle,V. 44, p. Interest on debt.................. 1,264,279 1,949,690 1,980,200 1,999,820
148. The first mort. and S I, 000,000 of second mort. bonds are guar, Dividends.......................... 1,724,664 1,600,000 1,300,000 1,200,000
8
8
6*9
6
bv the lessees and also by*the Pitts. Cin. & St. L. RR. The stock is Rate of dividend...............
813,945 418,270
131,292 350,114
$2,379,358 com. and $1,544,700 pref. The pret. was issued for income Sinking fund.........................
Miscellaneous.........................................
381,545
bonds ($1,000,000) and for deficiencies made up by the lessees. In
1884-5 gross earnings were $1,372,648; net, $450,963. In 1885-6, gross,
Total disbursements.. 3,802,888 4,349,505 3,411,492 3,549,934
$1,478,330; net, $467,186. Thos. D. Messier, Pres., Pittsburg, Pa. (V. Balance, surplus................. 1,656,631 610,677 1,052,321 454,380
42, p. 94. 154; V. 44, p. 91, 148.)
St. P a u l B Northern Pacific.—Line of road Bralnerd to Minneape
St. P a u l & D u lu th .—Line op R oad .—St Paul, Minn.,to Duluth, ous, 139 miles, and branches to St. Paul, 10 miles; total, 149 miles.
Minn., 155 miles; branch to Knife Falls, 6 miles; leased: Stillwater* This company was incorporated in 1874 as the Western RR. Co.
St. Paul RR., 13 miles; Minneapolis & Duluth RR., 13 miles; Taylor’s of Minnesota; from Sauk Rapids to Minneapolis was completed July
Falls & Lake Superior, 21 miles; Grantsburg Branch, 17 miles; total, 1, 1884, and from Minneapolis to St. Paul, February 1, 1886. The
225 miles. Between Northern Pacific Junction and Duluth, 24 ¿files, terminal improvements at Minneapolis are on 20 acres in the business
the road is owned jointly with the Northern Pacific.
centre of the city, and for similar purposes in and about Minneapolis and
This was the Lake Superior & Mississippi RR., opened August 1, St. Paul, a total of 400 aores is owned. The land grant of the company
1870, and leased to the Northern Pacific. Default was made Jan. 1,1875, is located along the line of the road between Bralnerd and Sauk Rapids,
and road sold in foreclosure May 1,1877, and this company organized and about 210,000 acres remain unsold. The land proceeds are first
June 27. The preferred stock is received in payment for lands at par. applicable to redemption of West. Minn, bonds, and then to the redemp­
Three shares of common stock have one vote and each share of pre­ tion of the Gen. Mort. bonds, if obtainable at 120. The road, with itsferred has one vote. Preferred stock has a prior right to 7 per oent; terminal property, is leased for 999 years to the Northern Pac. at a net
then comm on to receive 6 p. c. from net earnings only, remainder of rental equal to 40 p. c. of the gross receipts, but the bonds are guaran­
eam’gs and other income (lands,&c.) to be applied to purchase of pref.stk teed principal and interest. The stock is placed in trust with Farmers'
The Duluth Short Line road from Thomson to Duluth, 25 miles, is L. & T. Co., the power to vote being held by Northern Paoiflo Company;
leased to the St. Paul & Duluth, and the bonds of $500,000 are guar­ but “ beneficial certificates ” entitling holders to dividends are issued.
anteed.
The general mortgage is for $10,000,000 (the total debt being limited
The company has a land grant, of which 1,151,495 acres remained un­ by the lease to that amount), and is a first lien on the whole property,
sold Deo. 31,1886, and 69,680 aores of the Taylor’s Falls Branch. In excepting that it is second to the Western Minn, mortgage on 60 ^ miles
’86 land and stumpage sales amounted to $163,057, anddef’d payments and on part of the lands; the registered interest is payable quarterly—
(land accounts) Dec. 31, 1886, were $314,001. Gross earnings and February May, Aug. and Nov.; only $6,000,000 have yet been issued,
net income on railroad only, after deducting all fixed charges, were as and a sufficient amount of the issue is reserved to retire the Western.
below, but in 1886 $568,315 and in 1835 $167,186 for ' ‘ improve­ Minnesota bonds in above table. Sinoe 1877 regular cash dividends
ments ” and “ betterments ” was charged in operating expenses, while have been paid, averaging over 6 per oent per annum. (V. 44, p. 22,90.)
in prior years improvements had been charged to “ cost of road and
Sandusky M ansfield * N ew a rk .—Owns from Sandusky, O., to
equipment.”
Newark, O., 116 miles. A consolidation of several roads in 1856.
Gross
Net
Gross
Net
Leased Feb. 13,1869, to Central Ohio Railroad, guaranteed by Baltimore
earnings.
income.
earnings, income. & Ohio, and new lease made February 23,1880, extending to December
. $732,630 $50,249 1884
1881
......................$1,317,314$398,091 with option to the Balt. & Ohio Company to renew for terms
1,1926,
1882
. 1,109,840 261,246 1885
...................... 1,381,212328,610 years each. Rental was $194,350 yearly till 1884; $199,350
of 20
1883
. 1,328,527 271,186 1886
.. 1,558,085 def. 14,529 in 1884 and 1885; now $201,850 annually. It is operated as Lake
A summary of the report for the year ending Dec. 31,1886, was in V. Erie division of the Baltimore & Ohio system. In 1882-83,
44, p. 308, snowing total net receipts including land sales $766,844; ex­ earnings, $999,128; net, $291,781; in 1883-84, gross $1,062,775;gross
net,
pended for improvements, $568,315; net def. of year $14,529.
gross, $817,785; net, $119,919.
St. Paul M inneapolis Be M anitoba — (See Map).—Owns from St. $278,331; in 1884-85,e N orth Pacific.—Owns from Point Tiburon,
San Francisco B
Paul to Emerson, 392 miles; Minneapolis to Gretna via Breckinridge, Cal., to Cloverdale, Cal.,
413 m.; Minneapolis to Hinckley via St. Cloud, 132 m .; St. Cloud to Guemeville, Cal., 16 miles; 84 miles; branches—from Fulton, Cal., to
and Donahue to Petaluma, 8
Willmar, 58 m.; Elk River to Milaca, 32 m.; Devil’s Lake to Minot, 108 miles. This is a consolidation of several companies. miles; total,
Earnings in
117 m.; Cando Branch, 16 m.; Bolleneau Branch, 38 m.; Sauk Centre 1885, gross, $569,228; net, $154,276.
to Eagle Bend, 36 miles; Fergus Falls to Pelican Rapids, 23 miles:
avannah D u
B W stern
e
Crookston to Devil’s Lake, 114 miles; Shirley to St. Hilaire, 21 miles; to SAmericus, Ga., b lin miles. e Stock, .—Road in progress from Dublin
190
$2,000,000. A. B. Linderman,
Wayzata to 8 pring Park, 6 miles; Morris to Brown’s Valley, 47 miles; Philadelphia, President.
Breckenridge to Park River, 168 miles; Everest to Portland, 47 miles;
Savannah F lorid a B W e ste rn .—Owns from Savannah, Ga., to
e
Ripon to Hope, 30 miles; Moorhead to Halstad, 34 miles; total oper­ Chattahoochee, Fla., 258 miles; branches—Bainbridge Junction to Bainated, 1,761 miles.
70
This company was organized May 23, 1879, under the charter bridge, 9 miles; extension to Savannahjwharves, l 1 miles; Junction
Branch,
or the St. Paul & Pacific Railroad, and embraced the St. Paul A Pacific Albany, 4 miles; Dupont to Gainesville, 118 miles; Thomasville to
58 miles; Waycross to Jacksonville, 75 miles; total, 525
Railroad, the First Division of the St. Paul & Pacific Railroad, the Red miles. This was a consolidation in 1865 of the Savannah Albany *
River Valley Railroad, and the Red River * Manitoba Railroad. The Gulf Railroad
company had a land grant of 3,848,000 acres. The proceeds of land Atlantic & Gulf and the Atlantic & Gulf under the latter name. The
road was sold in foreclosure of the second mortgage
8 are reserved by the first mortgage trustees as a sinking fund for on November 4, 1879, subject to th > consolidated mortgage and
i&e redemption of the bonds at or under 105 and interest, and bonds other prior liens amounting to about $2,465,000. The present com­
■re called in yearly so far as the funds are in hand. The second mort- pany has a capital stock of $5,340,300, which is held in very few
§580 bonds do not cover the land. The land sales for year ending June hands and dividends are paid as earned; in March, 1886, 3*2 per cent
rr* T086 , were 68,560 acres, for $363,467. The net amount due on land
in March, 1887,
contracts June 30,1886, was $511,121; lands unsold, 2,289,420 acres. paid; and $468,799 n 2 per.cent. The earnings in 1885 were $2,461,613
et; fixed charges, $300,279; surplus, $164,356.
Dakota Extension bonds are issued at $12,000 per mile. The gross
In 1886 gross earnings, $2,557,424; net, $708,140. H. B. Plant, Pres.,
ifP^o^dated mortgage bonds of 1883 were issued to stockholders of New York. (V. 43, p, 635; V. 44, p. 344.)
nf in1’ 1° 83»
the extent of one half their holdings, on the payment
Savannah Griffin B
Griffin,
j I,lu.Per cent of the bonds in cash. The authorized amount of consoli- Ga., to Carrollton, Ga., 60 e N orth A lab am a .- Owns from Central
.
miles. Operated in connection with
is $5° ,00(),000, of which $19,426,000 were reserved to Railroad of Georgia. Capital stock, $1,011,245. In 1885-86 gross earn­
£“• P??or hens, and the balance may be issued for new road at $15,000 ings $62,518; deficit, $8,083. In 1884-5, gross, $58,841; net, $6,244.
;
f?r
,^he single track or $27,000 per mile double track. The Minneapolis
Schenectady B D uanes bu rg.—From Quaker Street Junction,
e
innins ¥ a. B
h°rt line through Minneapolis for passenger service N. Y., to Schenectady, N. Y., 14 miles. Formerly Schenectady & Sus­
onnnnn • tions an<i bridge over the Miss. River, and its stock of quehanna Railroad, and was foreclosed in 1873; reorganized and leased
vi.’U U O is held in trust and is covered by the lien of the St. P. M. & in perpetuity to the Delaware * Hudson Canal Company. Lease rental,
U ’O O
m. consol, mortgage.
$30.000 per year, paying 6 per cent on bonds. Stock, $100,500.
fiftS ^ arci ’ 1887>the directors voted to make an issue of $7,030,000
Sch u ylkill V a lley.—Owns from Palo Alto to Reevesdale, Pa..
Grpa+^ii ?£r cent gold bonds to build the extension from Dakota to 11 miles; branches, 8 ; total, 19 miles. It is an old road, and was leased
ureat r ails, Montana.
to the Phila. & Reading RR. from Sept. 1. 1861, at an annual rental
■m annual report for year ending June 30, 1886, was in V. 43, p. 366. of 5 per cent on the stock. Operations are Included in the Philadelphia
e
INCOME ACCOUNT.
& Reading reports. Has no bonded debt.
1882-83. 1883-84. 1884-85. 1885-86.
Scioto V alley.—Owns from Columbus, O., to Petersburg, O., 131
miles. In 1884 gross earnings, $556.983; net. $136,379; rental, $53,■Gross earnings.................. 9,14s,524
i
8,256,868 7,776,164 7,32 1,736 '4 7 6 ; interest on bonds, $155,400; other interest, $60,470; deficit for




90
IN V E S T O R S ’
SU PPLEM EN T.
x l iv

RAILW A Y & CONNECTIONS.

\ ol.
y
.




MINNEAPOLIS & MANITOBA

March , 1887.

R A IL ß O A D

STOCKS

AN D

BO NDS.

91

Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Bonds— Princi­
INTEREST
Miles Date
pal,When Due.
Amount Rate per
For explanation of column headings, Ac., see notes of
of
Par
When
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Schuylkill Valley—Stock.. . . . . . . . — . . . . . . . . . . . . .
19
$50
$576,050
21« J. A J. Philadelphia, Office.
Jan. 13,1887
Scioto Valley— 1st mort. (s. fund $13,000 per year).
98 Ì876 500Ac.
1,294,000
7
J. A J. July,’84, AJ an. *85,os.b’t Jan. 1, 1896
2d mortgage (sinking fund, $5,000 per year).......
98 1879
1,000
283,000
7
A. A O. Last paid April, 1884. A p r ili, 1894
Consol, mortgage......................................................
124 1880
1,000
553.000
7
J. A J. Last paid July, 1884. July 1. 1910
Equipment bonds......................................................
....
....
82,000
7
M. A N. N. Y., Winslow, L. A Co,
Seaboard A Roanoke—Stock ($244,800 is pref.).......
80
100
1,302,800
5
M. A N. Balt.,Farm. A Plant. Bk Nov. 1, 1886
Mortgage for $2.500,000.........................................
....
1886
(I)
5
J. A J.
New York.
1926
Seattle Lake 8. A East. — M., g., $25,000 per m ..
1st
1886
1,000
(1)
6 g. F. A A,
N. Y., Agenoy.
Aug. 1, 1931
Shamoki . Sunbury A Lewisburg—1st mort., coup.
31 1882
1,000
1,000,000
5
M. A Ni Phila., Phil. A Read.RR. May 1, 1912
2d mortgage..............................................................
1884
1,000
500,000
6
F. A A.
do
do
Feb. 1, 1924
Shamokin Valley A Pottsville—Stock........................ "29
50
869,450
3
F. A A. Philadelphia,Treasurer. Feb. 2, 1887
1st mortgage, gold, on road and lands..................
28 1871 500 Ac.
2,000,000
7 g. J. A J.
do
do
July, 1901
Shenandoah valley— 1st m (Hag. to Waynesbo.)___ 144 1880 1,000
2,270,000
7 g. J. A J. Last paid Jan., 1885. Jan. 1, 1909
General mort., gold................................................... 254 1881
1,000
4,113,000
A. A O. Last paid Oct., 1884. April 1, 1921
3d mortgage Income bonds, registered, non-oum.. 254 1883
1,000
2,500,000
6 8 Feb. 1
None paid.
Jan. 1, 1923
Car truss certificates.................................................
584,969
None paid,
Shenango A Alleghany—1st mortgage...... ................ "57 1869 50Ö Ac. 1,200.000
7
A. A 0. N. Y., N.Bk. of Com’roe. 1889 A 1907
West Pennsylvania & Shenango, 1st mortgage...
1882
1,000
400,000
6
J. A J. Phila., Fid. Ins. A Tr.Co. July 1, 1912
Shore Line (Conn.) -Stock......................................
*50
100
1,000,000
4
J. A J. N. H., Nat. N. H. Bank, Jan. 8, 1887
1st mortgage.............................................................
50 Ì880 IOOOAc.
200,000
M. A S.
do
do
March, 1910
Shreveport A Houston—1st, g. guar, by H. E. & W. T.
40 1881
1,000
400,000
6 g. J. A J.
New York.
July 1, 1914
Silver Springs Ocala A Gulf— 1st,gold ($13,000 p.m.)
1885
6 g. J. A J.
(I)
N. Y., Agency.
July 1, 1915
Sodas Bay A Southern.—1st mortgage, gold............. "34 1884 1,000
500,000
5 g. J. A J. N. Y., Penn. RR. Office July 1, 1924
Som
erset—1st mortgage, gold.....................................
25 1871
100
450,000
7 g. J. A J.
July, 1891
South Carolina—Stock................................................ 247
100
4,204,160
5
Feb. 1, 1883
1st mortgage, sterling loan..................................... 247 Ì868 Various
244,347
5 g. J. A J.
London.
1887 to 1888
1st consol, mortgage (for $5,000,000)...................
247 1881
1,000
4,713,000
6 8 A. A O.
do
Oot. 1, 1920
2d consol, mortgage.................................................
247 1881
1,000
1,130,000
6
J. A J.
do
Jan. 1, 1931
Income mortgage bonds (not cumulative)...........
247 1881
1,000
2,538.000
6
do
Jan. 1. 1931
So . A No. Alabama—1st M., endorsed by Alabama. 181 1870 1,000
391,000
8 g. J. A J. « . X ., u r e x e i . m . a u o Jan. 1, 1890
Sterling mort., s. fund, guar, by L . & N ............... 183 1873
£200
4.498.860
6 g. M. A N. London, Baring Bros. May 1, 1903
2d mortgage bonds (owned by L. A N.).................. 183 1880
1,000
2,000,000
6
A. A O. N. Y. Union Trust Co.
1910
New bonds (for $10,000.000)...... ..............
100 (Vo.
(f)
year, $195,910. In 1885, gross earnings were $546,286: net, $91,441:
S o u th C a r o lin a ,—Owns from Charleston to Augusta, S. 0., 137 m.,
rents, taxes paid, Ac., $31,998; applicable to interest, $54,942. Stock is
•'amden, 38 m.; extension, 4 miles
$2,093,350. Couponsof 1st m. due July 1.’84, and Jan. 1,’85, were bought
by Lloyd, McKean A Co. A plan of fundinginterest andplaoingall mort­ total main line and branches, 247 m. Default was made and the road
told in foreclosure July 28, ’ 81, and the company w as reorganized.
gage bondholders and holders of floating debt on about the same footing
was brought forward in the interest of Mr. C. P. Huntington, who had s There were $1.96,0001st mort. dollar bonds payable in 1887 and 1888.
The annual report for 1885 was in the C h r o n i c l e , V . 42, p . 337,
large judgment against the company, but was resisted by the 1st mort­
INCOME ACCOUNT.
gage bondholders, who organized a committee to buy the road on
IS
1882.
1883.
1884.
1885.
foreclosure. J. L. Robertson, Chairman, 7 Nassau Street.
Receipts—
$
$
$
Receiver (Jas. Robinson) was appointed in June, 1885, on ajudgment
$
1,233,292 1,151,840
1,326,969
of C. P. Huntington for $639,305. Frank H. Davis, President. New Total gross earnings 1,313,821
Net earnings...........
501,191
382,724
432,875
328,156
York. (V. 43, p. 50,191, 738.)
3,497
5.880
13,890
30,271
Seaboard Sc R o a n o k e .—Owns from Portsmouth, Va., to Weldon Other receipts..........
Total net income
504,688
446,765
358,427
388,004
N. C.. 80 miles. Of the stock, $1,058,700 is oommon, $200,000 is 1st 7
Disbursements—
per cent eruar., and $44,200 is 2d guar. Net earnings 1885-86, $188.375
357,817
373,754
1884-85, $163,191. J. M. Robinson, Pres., Balt., Md.
’
' Interest on debt___
374,524
382,722
Interest on incomes
126,900
76,140
Seattle L ake Shore Sc E astern .—New road in progress from Rate paid on inoomes
5
3
Seattle on Puget Sound to Walla Walla. Bonds are coup, or reg. (See Miscellaneous..........
4,149
2,472
252
8,020
prospectus in V. 43, p. 184,191.)
Total dlsbursem’ts
488,866
452,366
382.544
382,974
sur. 15,822 def. 5,601 sur. 5,630 def. 24,117
-(V . 42, p. 3 37.)
South Sc North A lab am a ,—Owns from Deoatur, Ala., to Mont­
from Elmore to
.
m ® Valley Sc P ottsvlIIle.—Line of road, Sunbury, Pa., to gomery, Ala., 182 miles, with a branch of 6 miles A Nashville RR.
Wetumpka. The road Is controlled by the Louisville
Mt. Carmel, Pa., 27 miles; branch tc Lancaster Colliery, 2 miles total 29
miles. The road was leased Februaiy 27.1863, to the Northern Central Company, which owns a majority of the stock and all of the second mort­
Railway Company, with a guarantee of interest on the bonds and 6 per gage bonds, $2,000,000, due 1910, which are pledged with the Union
cent per annum on the stock. The yearly reports will be found in the Trust Co. as security for the L. A N. bonds, dated June 1,1880. A new
Chronicle with the reports of the Northern Cent. RR. Gross earnings for consol, mortgage at 5 per cent has beep authorized. 500,000 acres
Det’ $263,318. Gross earnings for 1884 $437,827 of land in Alabama, largely mineral, nave been transferred to the
Louisville A Nashville Co. Common stock, $1,469,082; preferred stock,
net, $226,927. Geo. B. Roberts, President, Phila.
$2,000,000. In 1884-85 gross earnings were $1,541,289; net, $537,481;
Shenandoah V alley.—From Hagerstown, Md., to Waynesboro and interest and taxes, $560,847; deficit, $23.365; due Louisville A Nashville
a ponn®ction with ^
the Norfolk < Western road at Roanoke, * ^
fe
$1*733,805. In 1885-86 gross earuings, $1,469,089; net,
23o miles and branches 17 miles. A close contract Tor working and an $430,509; interest, taxes, Ac., $768,324; def.; $337,814. (V. 43,p. 218.)
exchange of stockfor Norfolk A Western stock, also a contract with Penn
South Pacific Coast (N arrow -gau ge).—Owns from Newark to
RR. for exchange of business was made in 1883, by which the Pennsyl- J unction (Felton), Cal., 45 m . leased —
Alameda Point to Newark, 25
vair?Uind tlle Cumberland Val. RR. companies apply 15 per cent till 1890 m.; Felton toSancaCruz, 6 m.; other branches, 4 m.; total, 80 m. There
a3iL1ii.^??Lceiir jrom that to 1895 of their gross receipts from business are no bonds, but in Deo., 1884, there was debt due the treasurer
with the Shenandoah Val. to be used for the purchase of Shenandoah Val­
ley s general mortg. bonds. In any year prior to Oct. 1,1888, this fund $1,886,522. Gross ear a lugs 1884, $743,924; net, $205,074. A. E.
Davis, Prest., San Francisoo.
can be applied to the purchase of coupons if the earnings are Insufficient
n sy lv an ia .—The line
to pay interest. There are in addition to the above outstanding first A S o u th P enmiles, making a western was in progress between Harrisb.
Pittsb., 225
extension of the Phila. A Read­
mortgage bonds, also $1,560,000 of same bonds held by trustee of the ing system. In July, 188o. it was agreed that the Vanderbilt interest
general mortgage and claimed as part of its security, but as to these should be transferred to the Pennsylvania Company, and that com­
is litigation (see V. 44, p 150). The stock is $3,696,200, of pany offered to give the South Pennsylvania subscribers $6,500,000
which $3,057,100 is held by the Norfolk A Western RR. Co.
bonds of the
A Bridgeport RR.,
in March, 1885, Sydney F. Tyler was appointed receiver, on applioa Railroad Co., Bedford 3 pec cent interest. guaranteed by the Penna.
bearing
In payment for
non of the Fidelity Insurance Trust A Safe Deposit Co. The April ’85 erty. Other large parties joined with the Vanderbilt interestthe prop­
and the
interest was aefaulted.
completed, when
of
For one month from Jan. 1 to Jan. 31 gross earnings were $57,288 negotiation was practicallysuit to enjoin the the Attorney-General in
Pennsylvania brought a
transfer, and this suit
» 7 o>u7i af al“ ?t $4=2» -83 in 1886; def. of $4,065 in 1887, against def. of Oct., 1886, was decided by the Supreme Court of Pennsylvania against
$/,84b in 1886.
the transfer
Robt. H.
In 1886 gross earnings were $740,655; net, $79.276. In 1885 gross Harrisburg. to Pennsylvania Company. 488, 501, Sayre, Pres. p. Office.
(V. 42, p. 94, 148; V. 43, p.
767; V. 44, 23.)
were $694.892; net, $24,731. (V. 42, p. 6 6 2 ; V. 43, p. 400
Southern Central (N. Y .)—Owns from Fairhaven, N.Y., to Penn­
548, 580, 672, 719, 767 ; V. 44, p. 23, 150, 309.)
sylvania State Line, 114 miles. Leases the Ithaca Auburn A Western.
Shenango S A lleg h an y .—Owns from Greenville, to Hilliard. Pa.
c
47 inues; branches, 10 miles; total operated, 57 miles. Leases the West Freeville to Auburn, 38 miles; State Line to Sayre, 2 miles. Total
rennsylvania & Shenango connecting road, extending from this line to operated, 154 miles. Road forms an extension to Lake Ontario for the
Railroad, to which company it was leased from Jan. 1,
def» nit i^ i ¿ 7 0 ®?'
construction In 1883. The company made
.r *7’ for
without any
, ? t 87^?but tlle October coupons were paid Feb. 21,1880. Road of funded975 ) ears, made in 1882guaranty of Interest. A readjustment
debt was
on tue
new 5s are
rnts + 2 “ ahds of receiver, and foreclosure begun In June, 1885, and tonvertible mto ®t'°ck at option of holderspresent basis. The and $100,win n ten years,
18 S5
n !S d A pdL £ 88
o Jo Stock, $200,000. Gross earnings in 000 are held in trust to retire the prior bonds due in 1899. Company
T h n .'® ^ 7,0.531 net> $48.858. Gross 1886, $150,072; net, $43,596., defaulted on August, 1886, coupon. Capital stock paid in is $1,790,J ? 1885’ 36, gross earnings were $467,068; net, $51,452; in
738 •V 44°l)lei50e) eiVer’ N' Y‘ Cit7’ <V' 42’ P‘ 775; V' 43’ P' 66’ 452
1884-8o, gross, $454,237: del., $37,048.—.V 44, p. 23.)
vp T ^ n r.r,^ ^ 11*.8 ° i a l® ^
This road is in progress from 811Southern Pacific C O M P A N Y ..—This corporation was organized
ver Hprmgf, Fla., to Point Pineilos on Tampa Bay, about 150 miles
Aug. 14,1884, tinder the laws of the State of Kentucky. It holds most
Capital stock, $1,500,000. Thos. C. Hoge,President, 56 Wall St
of the stock of the Southern Paciflo of California and the other railroads
L^™
.if!°*,l n ‘ )—Line_of road, New Haven, Conn., to New connecting with it to New Orleans, and leases each of those roads; also
5
i°
leased to New York A New Haven RR. Co. in ha« a lease of the Central Pacific for 99 years. The last report had the
$102»000 net per annum. Chartered as New following statement of the total stock of each of the said companies
L° n<0n,
o^
®
?.ldJ n foreclosure and reorganized under owned by the Southern Pacific Co. Deo. 31, 1885, and the table also
Hmw
Jone 29,1864. Dividends 3 ^ in Jan. and 4 in July. Opera- snows the percentage of net profits of the whole system payable under
the lease to the several lessor companies.
Dons and earnings are included in the reports of the lessee.
9 P
s “ “ i>!l r Jr * L e w is b u r g .—Line from Shamokin to
West Milton, Pa., with iron bridge over Susquehanna River at Sunbury.
The road was built by Philadelphia A Reading, and opened in 1883 for
its coal traffic northward. Stock. $1.000,000

Total stock P. c. eg

I J h T^y.e;P„t?rt * H ou ston .—From Shreveport, La., to Logansport,
f
Name of corporation.
Stock owned. of ctynpanjf, profits
t w » ’ connecls with Houston East. A W. Texas road, forming So. Pac. RR. Co. of California........ $43,684,900
.44,039,100
So. Pac. RR. Co. of A rizona..........
19.995.000
12
19,995.000
ten Efi,.a Brenumdf President °f 23° mUeS fr° m ShreveP ° «
So. Pac. RR. Co. of New Mexico ..
6,688,800
6.888,800
4
L. A Texas RR. A 88.
.
4,062,700
5.000. 000 221«
$379*050 8f i * s I ^ M K -,¥oi’
nd’
Anson, Me., 25 miles. Capital stock Mor. Harris. A San An. Ry. Co. _ . .
Co _
25.812.000
27,085.100
16*4
Pared
ptenl2er’ 1883» the bondholders took possession and pre Gal.
5,000,000
n etsL ii' 7* °r?,amze.the company. Gross earnings in 1883-84, $31,162; Texas A New Orleans Ry. Co........
5.000.
0007i«
net, $4,175. Gross in 1884-85, $30,860; net, $5,864.
Louisiana Western RR. Co............
3,360,000
3,360,000
3‘*
Mexican International RR. Co. . . .
4 172,100
4,922,100
the Elrnfri??^ Southern.—From ®0(fu8 Point to a junction with New York Texas A Mexican...........
594,000
814,800
Southern
Canandaigua at Stanley, N. Y., 34 miles. The Ontario
Total...........................................
stock is $ 5 mifmin5lOSed ^ ° k’’ ir88?V(311,1 this company organized. The Galv. Har. A San Ant.,West. D, v., 6s $113,369,500 $117,104,900
1.110,000
S
is o n f r ^ ’^00^ ^ ^ hy Northern Central RR. 6 o „ by which the
s operated. Deficit in 1884-85 under in to rest, $8 ¿,739.
Total stock and bonds...............
$114,479,500




IN Y E S T O K S ’
SUPPLEM ENT.

[Y ou X L lv .




Ma r c h , 1887. J

R A IL R O A D

STOCKS

AND

BONDS

9 $

Subscribers w i l l con fer a great fa v o r by g iv in g im m edia te n o tice o f an y error d iscovered In tbese T a b le s .
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
For explanation of column headings, &c., see notes of
of
Par I Amount Rate per When Where Payable, and by
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
South Pacific Coast— Stock.. ......................................
76
....
$ 1,000 $ 1, 000,000
South Pennsylvania—Stock (for $20,000,000)..........
(!)
1st mortgage (for $20,000,000)..............................
...............
(Î)
Southern Cent. (N. £.)— 1st mortgage bonds........... 114 1869 I 1,000
90,000
*7*
F. & A.
Consol, mort. (for $3,400,000) convertible........... I 114 1882 200 Ao
3,299,200
5
F. & A.
(!)
Southern Pacific COMPANY— Stock ($100,000,000) 4,750
100
South. Pac. of Arizona— 1st mort., gold,op. or reg... 384 ’79-’80 1,000 88,560,130
10, 000,000
New York City.
¿'g* J. & J.
got«A. Pac. ( Cal.)—1st mort.,gold,land gr., cp. or reg. 1,022 75-’82 500 Ac 34,178,000
6 g. A. & O. N. Y., Mills Building.
Monterey, let mortgage..........................................
15 1880
1,000
250.000
5
A. & 0.
do
do
Southern Pacific of N. Mexico— Mort., coup, or reg.. 167 1881 1,000
4.180.000
6 g. J. & J. N. Y „ Company’s Office
Southwestern <Ga.)—Stock, guarant’d 7 per annum 321
100
5,049,300
3 ^ J. & D. Savannah,Cent.RR. Bk.
Southwest Pennsylvania— Stock
44
819,200
5
M. & S. Phila. and Greensburg.
1st mortgage
1877
1,000
962.000
7
F. & A. Philadelphia Office.
Spuyten Duyvil d Port Morris— Stock................... .
t
*6
989.000
4
J. & J.
New York.
Slate Line d Sullivan— 1st M., conv. (red’bleaft.’88)
t
24 1879 100. Ao.
200.000
7
J. & J. N Y., Union Trust Co.
Staten Island— 1st mortgage......................................
13 1873
1,000
300.000
7
A. & O. » . Y., 8 . 1. Rap. T. Co.
Staten Island Rapid Tran.— lstm ., $ or £, cp.or reg. All. 1883 1,000
1,000,000
6 g- A. & O. N. Y., Lond. & Glasgow.
2 d mort. guar, by B. & O. cp. or reg., gold..............
1886
1,000
2.500.000
5 g. J. & J.
New York.
Incomes, gold (non onm .)........................................
1885
1,000
4.500.000
6 g.
do
Sterling Mountain (N.Y.)— 1st mort., income, guar.
7% 1881
1,000
475,674
7
Feb.
Stockton <- Copperopolis— 1st mort., (guar, by 0. P.)
£
45 1875 500 &o.
500.000
5
J. & J. N. Y., Central Paoiflo.
Suburban Rapid Transit— Stock ($6,600,000)........
600.000
1st mortgage bonds..................................................
m
Summit Branch (Pa.)—Stock.....................................
20
50
4.125.000
"3*
F. & A. Phila., 233 So. 4th St.
1st mortgage bonds.................................................
20 1874
1,000
1.185.000
7
J. & J.
do
do
Sunbury Hazleton d Wilkesbarre—1st mortgage....
t
43 1878
1.189.000
5
M. S N. Philadelphia, Penn. RR.
c
2d mortgage............................................................. .
43 1878
1.350.000
6
M. & N.
do
do
Sunbury d Lewistown— 1st mortgage....................... 431« 1876
t
500
500.000
7
J. A J. Phila., Guar. T. & D. Co
Suspension Bridge d Erie Junction—Stock...............
t
23
7
500.000
1st mortgage..............................................................
23 1870
1,000
1,000,000
7
J. &“ J. N. Y. Lake Erie & West.
Syracuse Binghamton d N. Y.—Stock.......................
t
81 1875
100
2.500.000
2
Q.—Mar N.Y., D. L. A W. RR. Co.
2d mortgage (now first)...........................................
81 1867
1,000
270.000
7
J. & D.
do
do
Consol, mortgage (guar. D. L. & W.)......................
81 1876
1,000
1.750.000
7
A. & O.
do
do

Bonds—Princi­
pal,When Due.
Stocks—East
Dividend.

Aug. 1, 1899
Feb. 1, 1922
Mar., 1909-10
1905-6 A 1912
April 1,1900
Jan. 1, 1911
Deo. 22, 1886
Mar., 1887
Feb., 1917
Jan., 1887
Jan. 1, 1899
April 1.1893
Jan. 1, 1913
Jan. 1, 1926
Jan. 1, 1946
July 7, 1895
January. 1905
Feb. 16,1876
Jan. 1, 1904
May 1, 1928
May 1, 1938
July 1, 1896
Yearly.
July 1, 1900
Mar. 1, 1887
June, 1887
Oct. 1, 1906

For one month, Jan. 1 to Jan. 31, gross earnings on the whole system Leased to New
1,1871. Rental is 8 per cent
(4.840 miles) were $2,403,814, against $2,008,420 in 1886- net Icapital stock ofYork Central Novemberare included in lessee’s returns.on
$989,000. Operations
$797,341. against $707,167.
’ er’
State Line & Su llivan .—Owns from Monroeton, Pa., to Berenice
The annual report for 1886 will show the earnings of the whole system
(4,840 miles) for the year to have been $13,283,227, plus rentals of Pa., 25 miles. Originally organized as Sullivan .&Erie Coal & Railroad
$560,691, total, $13,843,913; fixed charges, $13,934,132; deficit Oo., which was sold in foreclosure Oct. 14, 1874, and a new company
$90,214; construction, &o., $560,856; total defloit for year, $651.070 formed Deo. 2,1874, under the presentname. Stock, $990,000 (par $50).
The mortgage covers 5,000 acres coal lands, to May, 1884, this road was
—(V. 42, p . 94,156, 157, 243, 272, 305,366,464, 48^, 632, 754 781
leased to the Penn. & N. Y. Canal & RR. Co. for fifty years, at $36,000
V .43,p. 103, 218, 335, 460, 608, 636,746; V. 44, p. 344.)
S ou th ern Pacific o f A rizon a .—This is the connecting line of the per annum for three years and $40,000 afterwards.
Stntcn Isla n d .—Local road on Staten Island, Clifton to Totten*
South. Pacific of Cal., extending from Yuma to N. Mexico boundary, 384
miles. The stock is $19,995,000. The bonds oonsist of Series A $6 000 - ville, 13 miles. Road is operated in connection with Staten Island
000, due 1909, and Series B, $4,000,000, due 1910. Operated under lease IVOTCtamptray. Capital stock, $910,000, par $65 per share. In Oot..
to Southern Pacific Co., the lessee paying all charges and also 12 per cent 1883, leased to Staten Island Rapid Transit Co. One per cent dividend
of the net profits (if any) of the whole Southern Paoiflo system. In 1885 paid quarterly, January, April, June and October, on the stock.
the gross earnings were $1,564,702, and surplus over all charges $148 Staten Isla n d R a p id T ran sit R R .—This Co. was incorporated
029. From Jan. 1 to Dec. 31 gross earns, were $1,525,221 in 1886.asst under the general law 01 New York State. The line of road is around
$1,564,705 in 1885; net, $647,592, against $864,550. - (V. 44, p. 370)
the Staten Island shore, east and north sides, from Vanderbilt Landing
Southern Pacific (o f California). (See Map. ) — L ink of R o ad .— (junction with the 8 . 1. Railway) to a point opposite Elizabethport, N,
The road in California is in two divisions—the North. Div. from San Fran .
¿ a?,£.89 years’ lease of the S. I. Railway and controls the Ferries
to Tres Pines, 100% miles; Camadero Juno, to San Miguel Junction, 125 to N. Y. City. In November, 1885, the agreement with Balt. & Ohio
miles; and leased line, Castroville June, to Monterey, 15 miles; Santa was reported for making the terminals of that RR. Co. at New Brighton
Cruz RR., 26 m.; total in North. Div., 267 miles;—the South. Div., Huron by means of a bridge over the Kills at Elizabethport. The B. & o .
via Goshen to Colorado Riv., 529 miles; Los Angeles via Wilmington to guarantees the 2d mort. bonds of this Co., and owns a majority of its
8a? £?dr° 27 miles; total South. Div., 553 miles; total South. Pacific in U°mb oi *500,000. The income bonds are held by the B. & 0. and 8. L.
Cal., 816 miles. At Goshen the Southern Div. meets the San Joaquin S i«
hhh'balf each. Gross earnings in 1884-5, $122,989; net,
Branchof the Cent. Pac., by which it reaches San Francisco and the $55,074; def. under interest, taxes, Ac., $80,773. (V. 43, p. 12.)
main line of Central Pacific. At Yuma, connects with its closely afflliSterling M o u n ta in (N. Y .) —Road runs from Sterlington on the
ated Unes extending to Galveston and New Orleans. The Colorado Erm Railway to Lakeville, 7 6 miles. Bonds guaranteed by Sterling Iron
Div. of 242 miles is leased and operated by the Atl. A Pao. Railroad.
& ^ S l^ f^ -C o . Stock, $80,000. Earnings in 1883-84, $40,325 gross
8
, O r g a n i z a t i o n , &0.—The Southern Pacific was a consolidation Oct. 12. and $10,125 net; in 1884-85, $26,216 gross and $9,876 net.
°X8eve. al, !me® la California. The Central Paciflo RR. leased
r
s l ° ? i c*0 iV Jf ^ 2 P l i e r o P oUlS»—Fre8ent company is a consolidation.
thA
dl
but in MMoh, 1885, this lease was annulled and vianfi5°T'i17’ 1677, O the^tockton & Copperopolis and the Stookton
the whole line was leased to the Southern Paciflo Company on the basis Visalia. Line of road, J
Stockton to Milton and Peters to Oakdale.Cal.. 49
of lessees paying all charges, and giving to this company 26% per cent miles. Leased to Central Paciflo Railroad Company for thiriy years
iHslhei S f ^
°* tbe whole S. P. system. In October, Ao°“ 3 ec1ml?er 8,°; 1874\ By the terms of the lease the lessee agrees to
Loaf ’ leased to the A. A P. the 242 miles of road extending from the pay principal and interest of the bonds. Capital stock, $234,500 The
°atlie A & f •to Mojave, and right of way over the bal­ sompanv previously made default July, 1874, and the $1,¿00,000 of
ance of the line to San Francisco, at a fixed rental. (See terms of this old bonds were exchanged for the present issue guaranteed, to 1 88 5
agreement in St. Louis & S. F. report in C h r o n i c l e / V . 40? p. 594 )
gross earnings, $76,817; net. $33,063.
*44 039
N
i^8,_iri16 ^othorized stock is $90,000,000, of which
Suburban ¡R a p id ] T ran sit.—This company has built a bridge
i!1 ,8 been issued and is held mostly by the So. Paciflo Co.
8
1 6 5 )1?
vm tV.'h 1’)
Y'
, nd will soon be in operation?»
a
$15 0 0 0 M O m ! e 68
£
E and F’ of which A included ir?,» ,-ii A e fc N- Y Little information has yet been obtainable conoemt
’
r‘
C
’W
t ’h Sl!114? eac? ^OOO.OOO, the balance being divided wa,.? 1
, e|i Tn *ru.ly- 1886. the Manhattan Elevated stockholders
o
s
" au. F>the bonds are issued at the rate of $40,300 per mile on
d
OCODer m1
)?«
cepfc-the Colorado Di vision, which is bonded at $30,“ S 810011 “ ,l b° “ ds- 3“ u e lB and
senes A, B, C and D mature in 1905-6, the series E
of* la n d s J !™ W A b+nn d n ar£ «-mortgage on the lands, and as proceeds
rati?£i ™me
the hands of the trustees, bonds are purchased and The road is operated bv the Northern Central under contract. Traffic is
retired. There is also a sinking fund of $100,000 per year”
a^ *
«C
Gross receipts in 1886, includ.
lav ?rant was 12.840 acres per mile, and proceeds net,08i l X iS 8iv«?ly in 1885, $1,402,405; net, $174,646;ooal, $732,624;
nd
$13,689. Gross
interest. $83 ’
10 4 4 5 2 # ? AAJa tne +bon,as. The total grant is estimated to furnish 195; net profit in 1885, $116,529. (V. 44, p. 2 8 5 .)
e
esi;,
useless fnr agricultural nnmnuM wifhnnf of the lands is barren and D,?u ( ?>bu.*‘ y H azleton & W ilk esb arre.—Sunbury to Tomhicken.
i£ut ,a larS® proportion
useless R o,^rioultural purposes without irrigation. In 1885 the sales
xor
1
were8-* 9
,000. The Penn!
W notes’ nu£?Cr^ f°r $845,783; land bonds redeemed, $613,000? ? o i i 43 S1!}*8' foreclosed Maroh, 1878. Stock, $1,000J
f l 6 interest in it. Gross earnings in 1885, $493,197:
u w 0te8 outstanding Dec. 31,1885, $2,213,199.
v
274
f<lr 188 5 was published in the Chronicle , V. 43, p. net, $267,255. J. N. Du Barry, President, Philadelphia. (V. 43, p. 275.)
a U c h a ^ f t 2 n « ° W was “ '.follow s: Net profit under the lease over Pa n9b " i y & r ^ e w ls t o w n ^ e U n s g r o v e Junction to Lewistown,
Sux
; Proportion of net profits of Southern Paciflo Fa:- 43 1 Bes- Leased to Pennsylvania RR. for contingent interest In
“
G r o s s e ^ $ ? 08’ 143; total net profits, $517,125.
$123^^^^fito(^1 $finn^nnn
C
?4
,6®>855; in 1885, $168,268; in 1886,
$iZ6,536. Stook, $600,000 and div’s of 6 per ct. a year have been paid.
against * 1 9 « ? 7 ««^ Pin - froD? i arV 1 10 Deo. 31. in 1886, $1,649,826,
1885 fimV+w’J ™ 1 .188ri net* *811,967 in 1886, against $542,851 in
«
Q
B r l i gL * E Tie J n n c t l o n . —East Buffalo Junction
e
$3 191 Sj^tbern Division, Jan. 1 to Dec. 31,1886, $ 3 ,2 9 4 ,1 41 ; In 1885
Niagara Falls and Suspension Bridge, 23 miles; Look. & Buff. RB.
W
S ? *
*1,410,230 in 1885
’ r+^iAooA.q1 ^ 8’ total operated, 37 miles. Road opened January, i871.
?
' ‘ 4 ’ P* 1 * 8 , 350, 781; V. 43, p. 274, 548; V. 44, p. 204, 370.)
It is leased to New York Lake Erie & Western Railroad Co. at 30 per cent
to be not less
sona”
1 C>
? r -0 N e M e x ic o .—Road extends from Ari- of gross receipts, which are guaranteed297 shares. than $105,000 per
annum. Lessees own all stock except
a t ^ m d e r l ^ ^ t o hS n ^ h ^ anp e a«
Paso- Texa8- 167 miles. OperTSY
charges a m U m , „ a O
S tUf er? Paciflo Company, the lessee payingill X r a c n » e B in gh a m ton & N ew Y o r k . — Owns from Geddes.
Binghampton, N. Y., 81 miles. Chartered as Syracuse & Bing»
system 8 tockP $6 8 8 « «iw?eV proflts (if
<« the whole 8 0 . >aefflo- hornV
over charees l ’i 2 7 1 f i ,82S L Groas earnings in 1885 $683,249; ’surplus hamton and opened Oct. 23, 1854; foreclosed and reorganized Aprtl
00, 1857, and leased to Delaware Lackawanna & Western, to 1 8 3 3 -8 4
in 1886 aSSi.lt «fia loV ^ 08, ^ 1111188^ 0111 Jan- 1 to Dec. 3 1, $667,196
44, p. 37(f)
fc *683,250 in 1885; net, $310,131, against $401,686.—(V. gross earnings, $808,934 ; net, $344,285; interest, $141,400; divi­
dends (8 per cent), $200,000. In 1884-85, gross. $692 761- net.
$275,329; mt. $141,400; div. (4 p. c.), $100,000; surpius, $33,929.
hM°177^Ses"of b ra iih ^ )7i^r0m -Macon- ®a-> to Eufaula, 144 miles;
Syracuse Geneva Sc C orning.—Owns from Coming, N. Y., to
M u s , 7 i ^ r r A f c ! l® mair i,i being from Fort Valley to Colof «
1,1869, to the Central RR. Geneva, N. Y., 57 miles, and Penn Yan to Dresden, 7 miles; total, 57
L ° P ® ned December 10, 1877, and is leased to
the Btocx but 8 ner^eutla ibe babiUties and guarantees 7 per cent on « £ ew-ii to
stock, to June 1 88 l « 3 9 „Ar l „ pa - ^ 1 0 Percent is paid on Central the Fall Brook Coal Co. at a rental of 3313 per cent of its gross earn*
« q i 1 *1>325,000. ^In
C« 8
gross earnings were $671,690;
declared W g f t f f
6 per cent debt certificates was SjP ¿Qo^nta1, * :2^3’837> faxes, $10,559; deficit to lessee^
*70,844. In 1883-4, gross, $678,370; net, $267,237 rental, $226,123*
U ^ e ^ T p 8e n ^ T M ?iyi1V 79 a r ^ eei18^ ^ Pa- to Fairchance, Pa., miscellaneous, $65,070; loss to lessee, $23,856.
^
V
*
*
which o p e r a s it at
Hased $° Pennsylvania Railroad,
gross earnrn? 3 were * 5 6 2 0 2 0
earhmgs as rental, to 1885 , *y racuse Ontario Sc N ew Y o r k .—Owns from Syracuse, N. Y .,
to Earlville, N. Yv 43% miles. The Syracuse & Chenango Valley Rail™aa was sold in foreclosure and a new company orgamzed March 14.
t Ss s z t
t§ 73» 1 1 4er
11
na, e of Syracuse & Chenango Railroad; on April 15.
m
• « » n « » U » New York C e n ffi
§ e ? o i * I W f i S 1877, road was again sold in foreclosure and still again reorganized
T
under present name in 1883. The N. Y. West Shore & Buffalo acquired

5




#a«»

94




IN V E S T O R S ’

SU PPLEM EN T.

[V ol . XL1V.

MAP OF THE

TOLEDO, ANN ARBOR
AND

NORTH MICHIGAN
R A IL W A Y & C O N N E C T IO N S .

Ma r c ò , 1887.]

R A IL R O A D

STOCKS

AN D

BONDS.

9 5

S u b s c r ib e r s w ill confer a great favor by givin g Im m ediate notice o f «lay error discovered In the«« Table*.

Bonds—Prlno
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal,When DueAmount
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, Ac., see notes of
Road. Bonds Value.
1 Cent. Payable
Whom.
on first page of tables.
Dividend.
$928,300
57 1875 $100Ac.
600,000
1879
1,000
2d mortgage........ . . . . . . . . . . . . . . . . . . . ........................
900,000
43 1893
Syracuse Ontario A Nevo York—Bonds......................
500.000
1883
2d mortg., income.....................................................
114
1,401,880
50
Terre Haute A Indianapolis—Stock ($1,988,150) —
1,600,000
1873
1,000
Bonds ot 1873 coupon A reg...................................
500,000
116
50
Terre Haute A LogansporL—Stock.............................
93 1879
500,000
1,000
1st mortgage, guar, by Terre Haute A Ind’napolis
1,000,000
65 1883
1,000
1st mortgage, extension (2d on 93 miles)..............
5,400.000
Terre Haute A Peoria—Si ock.................................. 100
21145,000
Texas Central— 1st mortgage, g o ld ........................... 177 1879 1,000
1,254,000
52 1881
1,000
N. E. Div., mort., gold (2d on 177 miles)...............
2,286,000
1,000
General mortgage, (pledged)................................... 228 1884
960,000
Texas-Mexican—Corpus Ch S.D.A R.G., 1st M.,gold. 167 1880 1,000
1,380,000
1,000
1st mortgage, gold ($15,000 p. m.)........................ 165 1881
1,620,000
Texas A N. Orleans of ’74—1st mortg. land gr., coup 105 1875 1,000
104 1882
2,075,000
1,000
Sabine Division, 1st mortgage, gold.......................
1883
584,000
100
Debentures...................................................... - .......
1,487
34,173,600
Texas A Pacific—Stock.................................................
3,784,000
1,000
1st mortgage, gold, coup. (E. D iv.)........................ 524 1875
1,000
9,316,000
2d mort., consol., gold, coup. (E. Div.).................... 524 1875
7,992,000
1,000
Income and land mort., E. Div.. reg....................... 524 1875
’79-’85
Scrip for int.onino.mort.(red’mable inst’kor land)
2,240,000
521 1880
1,000 13,028,000
1st mort., gold, Rio Grande Division...................
1,000
6,720,000
New Orleans Pacific, 1st mortgage.......................... 336 1880
1,000
2,8'9,000
General and terminal mortgage ($6,500,000)....... 1.487 1884
54 1852
239,500
Toga P R — 1st mortgage, due 1882 and extended .
54 1876
125,000
Consolidated mortgage................................ - .........
20 1875
265,000
Extension bonds.......................................................
7 1875
160,000
Elmira State lane Railroad mortgage...................
61 1881
1,000
1,260,000
Toledo Ann Arbor A N. Mich.—1st (T. A. A. A G. T.)
1,000
2,120,000
1st mort., gold. Northern D iv.................................. 106 1884
55
1.547.662
Toledo Canada Southern A Detroit—Stock................

Syracuse Geneva < Coming— 1st m ortgage.............
&

7
5
6
6
3
7

M. A N. N.Y.,Farmers’ L. A T.Co. Nov. 15,1908M. A S.
Mar. 1. 1909
1933
1983
F. A A. N.Y.,Farmers L. A T.Co. Feb. 2. 1887
A. A O.
do
do
1893

*6
6

J. A J N.Y., Farmers’L.AT.Co. Jan. 1, 1910
J. A J.
do
do
Jan. 1, 1913

7 g.
7 g.
6
7 g.
6 g7
6 g.
6
6 g6 g.
7
6
6 g.
6 g.
6
5
7
7
7
6 g.
6 g.
....

M AN

Last paid Nov., ’84.
Last paid Nov., ’84.
N. Last paid Nov., ’84.
J.
J
A N. Y., Company’s Office.
S.
do
do
J.
do
do

m a n

• i. A
A
J. A
J. A
F. A
M. A
J. A

Nov. 1, 1909
May 1, 1911
Nov. 1, 1934
July 1, 1910
July 1, 1921
Aug, 1. 1905
March 1,1912
1893

M. A S. Last paid Sept.. 1885. March 1, 1905
I. A D. Last paid Dec., 1885. June 1, 1905
July. New York A Philad’phia Jan. 1, 1915
F. A
J. A
A. A
M. A
M. A
A. A
A. A
J. A
M. A
1

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

Last paid Aug., 1885
Last paid July, 1885
Last paid Oot., 1885
Phil.,Newbold Sons ACo

Feb.
July
Oot.
Nov.
Nov.
O ct
O ct
N.Y. .Farmers’ L. ATr.Co Jan.
N. Y., Cent. Trust Co.
May

1,
1,
1,
1,
1,
1,
1,
1,
1,

1930
1920
1905
1915
1896
1905
1895
1921
1924

oontrol of the property. Stock, $404,600. Earnings in 1883-84, gross,
The terminal bonds are a first mortgage on terminal property in New
$98.361; deficiency after charging out interest account, $44,869. In Orleans and at Gouldsborough; and on the Gordon coal mines
In 1884 the oompany became embarrased. In Dec., 1885, L. A.
1884-85 gross earnings $91,596; deficiency after charging interest
Sheldon and John C. Brown were appointed receivers of the oom­
$73,096.
pany on application of the Mo. Paoiflo RR. C o , a large holder
Terre H au te A In d ia n ap olis.—Owns from Indianapolis to 111!
nois 8tate Line. 79 in., with coal branches, 34 m.; total, 113 m. The road of floating debt. There was much difference between the Wistar
was opened in 1852 (as Terre Haute A Richmond). The company leases plan of reorganization and the Fleming-Olcott scheme, and the
and operates the Terre Haute A Logansport RR., also the St. Louis combination plan formed by the junction of the two committees was
Vandalia A Terre Haute Road on joint account with the Pittsb. Cm. A St. mentioned in V. 43, p. 163,191, 218. This plan provides that the old
Louis RR., at 30 per cent of gross earnings, but guarantees the first and first mortgage due 1905 shall stand, and all others shall be foreclosed.
second mort. bonds. In 1883-4, gross earnings, $1,127,388; total net A new 5 per cent first mortgage, “ A” (subject to the old morts. and
income, $375,056; interest and 8 per cent dividends, $271,052; loss on Texas lien, $3,951,000 in all), shall be made for $25,000,000, and a new
T. H. A L. lease, $83,449; loss on St. L. V. A T. H., $14,310; surplus 5 per cent income second mortgage, “ B,” for $25,000,000, non-ournufor year, $6,245. In 1884-85 gross earnings, $1,060,631; income, $¿58,- lative. These will be distributed to the holders of old bonds as stated
470; interest and 6 p. ot. dividends, $231,289; loss on T. H. A Logans, in Y. 43, p. Id4, except that holders of Land Inoome bonds will take 60
lease, $76,634; betterments to T. H. A L. road, $45,202; surplus for per cent in the new “ B” bonds in addition to the lands. The new stock
will be *50,000,000 auth rized, and will be Issued share for share to
year, $5,345.
old stockho'ders who pay the *10 per share cash assessment. A land
Terre H au te A Logan sport.—Owns from South Bend, Ind. company will probably be formed, and its stook issued to holders of the
to Rockville, Ind., 159 miles; leased, Rockville to Terre Haute, 22 miles. la d scrip and the Income land mortgage bonds.
Total operated, 182 miles. Formerly Logansp. Crawfordsv. A Southw.,
No report for 1885 was issued, but the gross earnings were $5,826,which was sold in foreclosure Sept. 10, 1879. and reorganized under 401, and the net, $1,095,6 9. The report for the year 1884 was m V. 40,
present name. Leased by Terre Haute A Indianapolis Railroad for 24 p. 202, and had the following:
per cent of gross earnings, and first mortgage bonds guaranteed by
INCOME ACCOUNT.
that company. Rental m 1883-84, $85,526; loss to [lessee, $83,449.
1882.
1883.
1884.
Rental in la84-85, $103,562; loss to lessee, $121,836.
$7,045,652
$5,918,756
Gross earnings............................ $5,919,732
Net earnings............................... $1,343,292
$1,648,007
$783,932
Terre H au te A P e oria.—Road operated from Terre Haute, via
346,511
392,791
129,124
Decatur, to Peoria, 173 miles. This is the new company formed in Jan , Other Inoome..............................
1887, as successor of the Illinois Midland, sold in foieclosure Sept. 30,
Total net receipts...............$1,689,803
$2,040,798
$913,056
1886. That road embraced by consolidation the Peoria Atlanta A Dec­
Deductions—
atur, Paris A Decatur and Paris A Terre Haute. In New York, Mr.
$1,970,085 *$1,970,190
Simon Borg and a-sooiates were largely interested In the property. (V. Interest on debt.......................... $1,670,950
Taxes and other charges...........
137,333
244,317
287,152
43, p. 217, 431, 738; V. 44, p. 184 )
Texas Central.—Line of road from Ross, in McLennan Co., to
Total deductions................$1,808,283
$2,214,402
$2,257,342
Albany, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229
Deficit................................. $118,480
$173,604
$1,344.286
miles. Is controlled in Houston A Texas Central interests, by which
* Full interest charge, but interest was not all paid, partly funded.
company it is operated; but accounts are kept separate. The authorized
stock is *1,000,000; total issued, $130,200, of which H. A T. C. holds, —(V.
p. 23. 6 !, 94, 207, 293, 464, 519, 550, 575, 604, 632, 664, 695,
$50,000; Morgan Co., $75,O 0 ; directors, $5,300. Defaulted in interest 729, '5 4 , 783; V. 43, p. 12, 41, 73, 103, 125, 133, 163,191,218,275,
C
m 1885. The gross earnings in 1885, Jan. to Nov. 30, were $238,7 09; 3u9, 369, 399, 400, 432, 516, 672; V. 44, p. 119,150, 276, 309 )
net, $41,248. In 1884, gross, $283,637; net, $45,707. C. A. Whitney,
T io g a .—Owns from Arnot, Pa., to State line New York, 44 miles
Pres.,N. O. (Y. 42, p. 61.)
branch, Blossburg, Pa., to Morris’ Run, Pa., 4 miles; leased, Elmira
T e x a s -M e x ic a n .—On ns from Corpus Christ!, Tex,, to Laredo on State Line Railroad, State line New York to Northern Central Rail­
the Rio Grande, and brani hes, 168 miles. Charter covers 1,400 miles way Junction, 7 miles; and Arnot A Pine Creek RR., Arnot to Hoytin all. Under same control as the Mexican National, and in November ville, Pa., 12 miles; total, 67 miles. Controlled by N. Y. L. E. A W.
1883. a lease for 99 years was made to the Mexican National Company. The stock is $391,200 com. and $189,700 pref.
Rental in 1885, $162,000 ; surplus over interest, $6,512. W. J. Palmer,
Toledo A n n Arbor A North M ich igan .—( See Map)—Owns
Pres’t. Stock authorized $12,000.000.
from Toledo, O., to Mt. Pleasant, Mich., 172 miles, which oarries the
road into the heart of the lumber region of Michigan. Capital stook
Texas A New Orleans (o f 1 8 7 4 ).—Houston, Tex., to Orange
(Sabine River), 104 miles; and Sabine City to Rockland, 104 miles; is $3,200,000. The old first mortgage on 61 miles covers the Southern
total 208 miles. Belongs to the Huntington Southern Pacific system, Division, formerly called the ToL Ann Arbor A Grand Trunk Railroad.
together with the Louisiana Western. This was a reorganization, 1874, The annual report for 1885 was in Y. 42, p. 548; the net earnings
of the old Texas A New Orleans RR. The stock is $5,000,000, and were in excess of interest charges. The report showed gross earnings
a controlling interest is owned by the Southern Pacific. In addition to on Southern Division, $261,959: net, $111,767; Northern Division
above bonds, there are $486,507 Texas School bonds. Gross earnings (under construction) gross, $39,266; net, $13.353. For six months
Jan- 1 to Jan. 31, $81,634 in 1887, against $82,703 in 1886; endiug June 30,1886, gross earnings were $178,817, and net $85,251
James M. Ashley, President, 150 Broadway, N. Y. (V. 42, p. 126, 272
net, $32,623, against $38,395.
a.
annual report was in Y. 42, p. 574; gross earnings were 397, 5 4 8 , 549; V 43, p. o08. 635.)
* . *
~
net, $462,273. In 1886 gross earnings were $998,161;
Toled o Canada Southern A D etroit.—Toledo, Ohio, to Detrol
$»®2,136. C. P. Huntington, President, New York. (V. 42, p. (G.T. Junction), Mich., 55 miles. Road opened September 1,1873. Oper
243, 5 7 4 ; Y. 43, p. 133,163 ; V. 44, p. 344, 370.)
ated by Canada Southern. The bonds were exchanged into Canada
Southern first mortgage bonds at 70 per oent of face value.
A P a c ific . — (See Map Missouri Pacific.)—Eastern Division
Toledo A Ohio Central.— (See Map Columbus Hocking Valley
Prom Texarkana to Marshall and thence to Fort Worth, 253 miles
lexarkana Junction to Whitesboro, 239 miles ; Marshall to Shrevepon A Toledo).—Owns from Toledo, O., to Corning, 184 miles, including 12
miles leased; Hadly Junction to Columbus, 29 miles, including 5 mile s
, eastern division, 532 miles. Rio Grande Divis’onn i to Sierra Blanco, 524 miles; Sierra Blanco to El Paso(joiD leased; total operated, 213 miles. This oompany was formed after sal e
if“®*#
miles; Gordon Branch to coal mines, 3 miles; total Ri in foreclosure of the Ohio Central main line on April 15, 1885. T he
preferred stock is $3,108,000 and common $1,592,000; the first m ort­
d d , division, 619 m. New Orleans Division—(Formerly N. O. Pac:
\ “ “ rereport to N. O. and Baton Rouge Branch, 336 milef gage is for $5,000,000, but no more than $3,000,000 oan be issue d
except by consent of three-fourths of the present bondholders. The
rotal of all, 1,487 miles.
-Pacific was built under act ot Congress of March 3,1871 bonds have their interest guaranteed by the Columbus A Hocking
rPdother actsin 1872 to ’74, and the laws of Texas. This company su< Valley RR. Co., and by an agreement with that company the stock o f
oeeaed to the right of the Memphis El Paso A Pacific Railroad and othe Col. A H. V. was offered in exchange for three-fourths of the new stock
RoiiS?1 t By a contract made in January, 1880, with the Pacifl of Tol. A O. C., in the proportion of one share of C. A H. V. for one of T.
1
Company, the road was extended towards £ A O. C. preferred, and one share of C. A H. V. for two shares of T. A O.
° r5 4 6
n\
jurande, to meet the Southern Pacific of California, wit! C. common; the remaining one fourth of T. A O. C. stock, together with
1 1i?onds and $25,000 in stock per mile of road. The Fidelifr all that acquired by C. A H. V. by the exchange, were deposited with
1
ftranal 1TM
i < Trus*J^
-D Co. of Philadelphia is Trustee of the Ri' trustees. Afterward the trustees, on the request of three-fourths of the
aho-i *
u m°rtgage. A consolidation with New Orleans Pacific C. H. V. A T. stocktmlders, divide t the T. A O. C. stocks as a dividend
m
° r share, was voted in May, 1881. From the State of Texa on Nov. 17.1885. (See agreement in V. 40, p. 597. From Jan. 1 to
paat ^ mSaS?V,Te^ ved 10,240 acres of land per mile, and by buildini Jan. 31,1887, gross earnings were $85,956, against $52.002 in 1885;
nr« q i - or^ Worth earned 4,931,702 acres, on which the income bond net, $34,350, avainst $9,260- The gross earnings for 1886 wer e
tntai
al®° a 3d mortgage on the road east of Fort Worth. Th $844,798; net, $241, *48; surplus over interest and al charges, $10 ,
aoiS- t«£8 i1®8
i
.4
544,984 acres at an average price of $3 07 pe: 001. (V. 43, p. 24, 548; V. 44. p. 91, 2 1 0 , 341.)
^re, totalsÿes.inciudinglots, amounted to $1,677,563, of which $7rfl,
T oled o Peoria A W e ste rn .—Road owned from Indiana State
q gûqH P “ “ in “ come bonds and scrip; lands yet unsold Dec. 31,1884 line to Warsaw, 111., 2^0 miles; branch. La Harpe to Iowa, 111., 10 miles
cpnt t’«
?.cre8. The railroad lands in Texas, however, do not lie adja tracks leased to P> oria and to Burlington. 1st., 17 miles; total operated
in a
? °* ^5? roads owning them, but these are located in par 247 miles. This was formerly the Toledo Peoria A Warstfw, then the T
Tom
the
Gr£nde division, 1,030,611 acres being n P. A Western, and as such was leased to and virtuully merg< d in ti
iom Green County, and 1,303,380 acres in El Paso County.
Wabash St. Louis A Pacific. After the Wabash default in July, 188




IN Y E S T O K S ’
SUPPLEM ENT

fY o u XLIY,




M arch,

1887.]

RAILROAD

STOCKS

AND

RONDS.

97

Subscribers w ill confer a great favor by giving; Im m ediate notice o f any error discovered In these T ables. 1 e
Bonds—PrlnolINTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal,When Due.
Amount
of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
Cent. Payable
Whom.
on first page of tables.
Dividend.
Toledo Peoria d West.—1st M., new (for $5,000,000)
k
Toledo St. L. A Kansas City—
Stock...................
Pref. 4 per ot. coupon stock, non-cumulative
1st mortgage, gold (redeemable on n otice)...
Tonawanda Valley A Cuba—1st mort. ($500,000)..
Troy A Boston—1st mortgage, consolidated.............
2a consol, mortgage (for $1,000,000)...................
Tyrone A Clearfield—Stock.........................................
1st mortgage..............................................................
;Ulster A Delaware—1st mortgage...............................
2d mortgage Income bonds.......................................
United N. J. Bit. A Canal Companies—Stock...........
Gold bonds................................................................
General mortg.,gold and currenoy, coup...............
Uni tea Co.’s mortgage, sinking fund, registered.,
do
sterling loan mortgage, sinking fund
do
do
do
do
ao
do
dollar loan, mortgage........................
do
gold loan, reg.......................................
Joint Co.’s plain bonds..........................................
do
consol, mort. (sink’g fund after 1880)
N. J. RR. & T. Co., 3d loan due State of N. J ........
Union Pacific—Stock........... .......................................
1st mortgage, gold, on road and equipment..........
2a mortgage currenoy (Government subsidy)—
3d
do
on road (2d on land), sinking fund..
Land grant bonds — ..................... - - ............ .
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
Collateral Trust bonds.............................................
Collateral trust Donds of 1883, g o ld .....................
Kans. Pac.,oons. M..,g.(for $30,000,000),op.orrg.
do
1st M., g, op., on 140m. west Mo. Riv.

196
230
451
451
451
60
35
53
64

$3,000,000
(1)
12,250,000
4,805,000
9,000,000
1886
500,000
1881
1,424,000
1874
925,000
1878
1,000,000
....
1,000,000
1,000
200,000
1,000
74 1875
1,400,000
1875 100 Ao.
429
100 21,240,400
1,824,000
1,000
1883
5,669,000
238 1873
1,000
2,000,000
1871
1,846,000
1871
1,800,000
1871
154,000
1871
841,000
1878
866,000
1854
5,000,000
1862
100,000
1868
1,820
100 60.868,500
1,038 1866-9 1,000 27,229,000
1,038 1866-9 1,000 27,236,512
14,483,000
1,038 1874
2,706,000
1867-9 1,000
1,621,000
1871
£200
1879
1,000
4,541,000
1,000
4,567.000
1883
1879
1,000 14,905,005
2,240,000
Ì4Ó 1865
1,000
1885
1887

$1,000
1,000
100
100
1,000
1,000
1,000
1,000

foreclosure proceedings were begun, and a sale was reached Oct. 29,
1886 Reorganization is in progress, and It is proposed to give to each
of the old first mortgage bondholders one new $1,000 bond and 10 shares
new stock; all other stocks and bonds extinguished. The total new
issues will be $5,000,000 bonds and $5,000,000 stock. See V. 44, p. 309.
Toledo St. Louis Sc K a n sa s City.—(See Map.)—Prom Toledo to
St. Louis, 451 miles. This company was formed June 12, 1886, by con­
solidation, and it took all the property of the former Toledo Cin. & St.
Louis narrow gauge road, foreclosed Deo. 30,1885. The present com­
mon stock and the first mortgage bonds were issued for the purchase
of the property, payment of receiver’s liabilities, broadening the gauge,
&o., &c., and $4,000 per mile of said mortgage bonds were reserved
for obtaining standard gauge equipment. Provision has been made for
the payment of interest for two years. See full statement as to this
company in V. 43, p. 74.
The status of the Tol. Cin. A St. Louis from time to time was given in
the Supplement up to June, 1886. The only stock or bond holders of
the Tol. Cin. A St. Louis who received anything for their holdings were
the first mortgage men, who took 150 in new pref. stock for Tol. Delphos
A B. firsts and 100 in new pref. stock for St. Louis Division firsts. See
circular ¡n V. 43, p. 432. (V. 42, p. 23, 207, 366,397, 431, 550, 721, 755;
Y. 43, p - 73, 369, 432, 580, 634.)
T on aw an da Valley Sc Cuba.—Owns from Attica, N. Y. to Cuba,
N. Y., 60 miles. Stock$587,100. Securities listed at New York Stock
Exchange December, 1882. $113,000 of 1st mort. bonds are reserved
to redeem same amount of 6 per cent bonds due 1910. Mr. Bird W.
Spencer was appointed receiver in 1884. Gross earnings in 1883-84,
$50,332; deficit, $42,255. Gross in 1884-85, $18,694; def., $5,073; other
receipts, $2,929; net deficit, $2,143. (V. 42, p. 23; Y. 44, p. 235.)
Troy Sc B o sto n .—Owns from Troy, N. Y., to Vermont State line, 35
miles; leased : Southern Vermont 5 miles ; Troy & Bennington, 5 miles ;
Vermont State line to North Adams, 6 miles ; total operated, 53 miles.
Stock, $1,623,110. In addition to the above bonds there were out­
standing in 1885 several smaller issues of prior bonds amounting to
$282,500. Very little information has been given of this road. In
January, 1887, it was reported that an agreement of consolidation had
been made with the Fitchburg. (See V. 44, p. 59.) Earnings for three
years past were: In 1883-84, gross, $483,561; net, $192,539; in
1884-85, gross, $420,743; net, $192,724; in 1885-86, gross, $475,200;
net, $230,982. (V. 44, p. 59, 91, 119, 309.)
Tyrone Sc Clearfield.—East Tyrone Pa., to Curwensville, Pa., 44
miles; branches, 20 miles; total, 6 4 miles. This company was organized
April 1,1867, after sale in foreclosure. It was leased to the Pennsyl­
vania Railroad in 1878 and new lease for 50 years made in 1882. Gross
earnings in 1885, $551,000; net, $121,344. J. N. Du Barry, President,
Philadelphia, Pa.
Ulster Sc D elaw are.—Owns from Rondout (Hudson River), N. Y;
to Stamford, N. Y., 74 miles. This was the Rondout & Oswego in 1870,
reorganized May 28,1872, as New York Kingston & Syracuse, and again
after foreclosure, May 1, 1875, as Ulster A Delaware. The stock is
$1,152,100. There are also $50,000 real estate mortg. bonds. In 188485 the gross earnings were $325,837; net earnings $120,527. Thomas
Cornell is President, Rondout, N. Y.
United New Jersey R a ilro a d Sc Canal Co.—Lines op R oad .—
New York to Philadelphia and branches, 135 miles; Camden to Amboy
and branches, 226 miles; Trenton to Manunka Chunk and branches,
“ Iniiles; total operated, 443 miles. Delaware & Raritan Canal, 66 miles.
This company was formed by a consolidation in 1867 of the Delaware &
Raritan Canal Company, the Camden A Amboy Railroad, and the New
Jersey Railroad & Transportation Company. The United New Jersey
Railroad A Canal Companies were leased in May, 1871, to the Penn­
sylvania Railroad for 999 years, at a rental of 10 per cent on the
®tock, oesides interest on bonds. The smaller leased roads were taken
with their several contracts. The lease has not been directly profitable
in cash receipts to the Pennsylvania Railroad, and the net loss in 1879
was $939,889; in 1880, $1,035,308; in 1881, $302,864; in 1882, $568,759; in 1883, $635,914; in 1884, $593,536; in 1885, $159,496; but the
connection with New York was indispensable. Operations and earn­
ings are included in the Pennsylvania RR. report.
...U n io n P a c if ic R a i l w a y .—(.See Map.)—Lines op R oad .—Mai
fine—Council Bluffs to Ogden and branches, 1,049 miles; othe
branches—Kansas City to Denver. 643; Denver to Cheyenne, 10(
Leavenworth to Lawrence, 34; total owned, 1,832 miles; controlle
ana operated in the Union Pacflo system January, 1885—Omaha .
Repub. VaUeyRR., 237 miles; OmahaN. A Black Hills RR., 114; Colo:
iiao C^tral RR., 327; Echo A Park City RR., 32; Utah A Northern RR
402; Lawrence A Emporia RR., 31; Junction City A Ft. Kearney, 87
»olomon RR., 57; Salina A Southw’n, 36; Kan. Cen., 167; Den. & Boulde
™ y . , 27; Golden Boulder A Car., 6; Oregon Short Line and brand
s.i+T v
Eake A Pacific, 54; Denver South Park A Pacific, 32:
oart Lake& western, 57; Georgetown Breckenridge A Leadvfile, 8 milei
S ^ T n?v.B^ '^ .ay’ 9 miles; total thus controlled, 2,644 miles; total ope:
ated in the U. P. system Jan. 1,1885,4,476 miles.
{“ ^al Planch Union Pacific and leased lines (388 miles) ar
®®JM
atea. by the Missouri Pacific under an agreement with Union Paclfi
ior twenty-five years from 1885, and not included in the mileage opei




4 *
4
,6 g.
6
7
7
2%
5
7
7 .
2ia
4
6 g.
6
6 g.
6 g.
6
6 g.
6
6
6
1%
6 g.
6
8
7
8 g.
6
5
6 g.
6 g.

J. A J. N. Y., Central Trust Co.
J. A J. Firstcoup.due July, ’83.
J. A D.
New York Agency.
M. A S.
New York Office.
J. A J. N. Y., Nat. B’k of Com.
A. A O.
do
do
J. A D. Phlla., 233 South 4th.
J. A J.
J. A J. Rondout, Co.’s Office.
F. A A.
New York.
Q .-J . Phlla. and N. Y. Offices.
F. A A. Philadelphia Offioe.
M. A S.
do
do
A. A O. Phlla., Pennsylv’a RR.
M. A S.
London.
M. A 8.
do
F. A A. Phlla., Penn. RR. Offioe.
M. A S.
do
J. A D.
Princeton, N. J.
M. A N. Philadelphia Office.
A. A O. N. Y., B’k of Commerce.
Q .-J . New York and Boston.
J. A J.
do
do
J. A J. U.S. Treasi, at maturity.
M. A S. New York and Boston.
A. A O.
do
do
A. A O. London A New York.
J. A J. N. Y., Union Trust Co.
J. A D. Boston, N. Engl’dTr.Co.
M. A N. N.Y., 40 Wafl Street.
F. A A.
do
do

July 1, 1935
June 1, 1916
Sept. 1, 1932
1924
1903
Deo., 1886
July 1, 1905
July 1, 1905
Jan. 10, 1887
Feb. 1. 1923
Moh. 1, 1901
Oct. 1, 1894
Moh. 1, 1894
Moh. 1, 1894
Feb. 1, 1888
Sept. 1, 1908
¿an. 1, 1889
Nov. 1, 1889
Overdue.
April 1, 1884
1896 to 1899
1896 to 1899
Sept. 1, 1893
1887-’89
April, 1896
July 1, 1908
Deo. 1, 1907
May 1, 1919
Aug. 1, 1895

ated by Union Pacific. The U. P. also has large interests in the St. Jos.
A West. RR., 251 miles; the Utah Central, 280 m.; Leavenworth Topeka
& S. W., 47 m.; Manhattan Alma A Burlingame, 56 in.; Manhattan &
Blue Valley, 1 1 m . and Nevada Central, 93 m .; total, 738 miles, all of
which are operated separately.
In 1886 a lease of the Oregon Railway A Navigation Company to the
Oregon Short Line, guaranteed by Union Paoiflo was negotiated.
Organization, Ac.—This company, the Union Paoiflo Railway, was
formed by a consolidation, Jan. 24,1880, of the Union Paoiflo RR. and
the Kansas Pac. and Denver Pao., made under authority of the acts of
Congress of July 1,1862 and July 2,1864. The Union Pac. RR. was
chartered by Act of Congress of July 1,1862, which gave the company a
land grant of 12,800 aores per mile, estimated at a total of 12,083,227
acres, and a subsidy in U. S.bonds of $27,236,512 on 1,033 miles of road.
The Kansas Paoiflo was organized as “ Leavenworth Pawnee & West
em ” in 1861; then changed to “ Union Paoiflo, Eastern Division," June
6,1863, and to “ Kansas Pacific” on Maroh 3, 1869. The Paoiflo Rail­
road acts of 1862 and 1864 applied to this road, and gave it a subsidy
of $6,303,000 and a land grant of about 6,000,000 aores.
The Denver Paoiflo—Denver to Cheyenne, 106 miles—was built undex
the charter of the Union Paoiflo, E. D. (Kansas Paoiflo).
As to the debt of the Paoiflo railroads to the United States Govern­
ment a decision of the U. S. Supreme Court settled the point that the
payment of Interest on the loans was not obligatory on the companies
till the principal of the bonds became due. Afterwards Congress passed
the Thurman Act, May 7,1878, which, for the Union Pacino, provided
that 25 per cent of the net earnings, after deducting interest on the
first mortgage bonds, should be paid annually to the Government as fol­
lows : First—Applied directly to interest account, one-half of Govern­
ment earnings and 5 per cent of net earnings, after deducting interest
on first mortgage bonds. Second—To be placed In the sinking fund—
the other half of the Government earnings and so muoh of $850,000 as
may be necessary to make all the payments by the oompany equal 25
per cent of its net earnings. On Deo. 31, 1885, this sink, fund Invested
in U. S. bonds (par value) was $4,875,100, and the premium paid on
bonds and cash uninvested was $1,130,933; total, $6,006,033.
■ Stock and B onds.—The capital stock issued and outstanding Is
$60,868,500, having been increased about $10,000,000 since the consoli­
dation in 1880. Dividends since 1879 have been as follow s: in 1880. 6
per cent; in 1881, 6%; in 1882,7; in 1883,7; in 1884, 3*9; none since.
The yearly range in prices of the stock has been—In 1880, 80®1133 l
in 1881, 105%®131%; in 1882, 9 8 ^ 1 1 9 % ; in 1883, 70is®104%; &,
1884, 28®84«s; in 1885, 41®62%; in 1886,
in 1887 to March
19, 53^8 a 62.
Of the Union Pacific collateral trust bonds, the first Issue Is limited to
80 per cent of the following bonds: Omaha A Republican Valley RR..
$1,064,000; Colorado Central Railroad bonds, $2,161,000; Utah North­
ern Railroad, about $2,452,000; total, $5,677,000. The collateral trust
bonds of 1883 are secured by the following bonds: Colorado Central RR.
$1,434,000; Utah A Northern RR. $2,288,000: Omaha & Rep. Valley
RR. $701,000; Utah Southern RR. extension $95,000; Omaha ¿ R e ­
publican Valley, $2,519,000; total, $7,037,000.
The outstanding bonds of Kansas Pacific above are given less the
amounts of eaoh class held by the trustees of the general mort. The con­
sol. mortg. trustees are Jav Gould and Russell Sage, and they held in
trust on Jan. 1, 1885, the following bonds of the Kansas Paoiflo, making
$6,585,950 in all, viz.: Leavenworth Branch, $568,000; income (unsub­
ordinated) bonds. $215,350; income (subordinated) bonds, $3,751,600;
Cheyenne Branch Den. Pao. bonds, $2,051,000. They also held $1,892,
700 of the stocks and $3,1-58,000 of the bonds of other companies
controlled by the Union Pacific.
Land Grant.—The proceeds of land sales on the Union Paoiflo main
line are applicable to the principal ot the land grant bonds, and after
that to the sinking fund mortgage 8 per cent bonds. On the Kansas
Pacific the cash income from land was formerly applied to the interest
on the general mortgage, but in 1885 towards principal. On Deo. 31,
1885, the company had in cash from the Union Pacino grant the sum
of $3,194,475, and in land contracts 10,522,689, whioh sums are appli­
cable first to the payment of the land grant bonds, and then to the pay­
ment of the 8 per cent sinking fund bonds due in 1893. On Jan 1,1886,
the U. P. lands were 3,321,696 acres, estimated at $2,541,696; the K.
P. lands unsold, 4,122,850 acres, estimated at $9,951,974.
The sales in 1883,1884 and 1885 were as follow s:
Union Pacific—
1883.
1884.
1885.
805,833
4,321,043
743,704
Acres sold........................................
Am ount............................................ $2,436,767 $6,517,773 $1,223,227
Average price................................
$3 11
$1 52
.........
Kan. P a cificAcres s o ld ......................................
218,185
452,566
690,294
Amount............................................ $965,557 $1,917,876 $2,817,159
Average price................................
$4 41 J?
$4 21Lj
.........
T o ta lAcres sold..................... : ............... 1,024,018
4,773,609
1,433,999
Amount............................................. $3,402,324 $8,435,649 $4,040,387
The Kansas Pacific lands, from the 380th mile westward., are covered
first by the Denver Division mortgage, and all the lands of the Kan. Pae.
by the consol, mortgage.
Land sales for nine months from Jan, 1 to Sept. 30 in 1886 Mid
1885 were as follows:

INVESTORS’
SUPPLEMENT.
[V ol .
x l iv

.




M a r c h , 1887.]

.RAILROAD STOCKS AND BONDS.

99

Subscribers w i l l confer a great favor by giving im m ediate notice of a n y error discovered in these T a b le s .
Bonds—Prinol
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
of
For explanation of column headings, Ac., see notes of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Road. Bonds. Value.
Whom.
on first page of tables.
Cent. Payable
Dividend.
Union Pacific—( Continued)—
Kansas Pac.. 1st mort., gold, 140th to 393d mile.
do
2d M.(to U.S.Gov.) on 394m. W. Mo.R.
do 1st,394th to 639th m., l.g., 3,000,000 acs
do
1st mort., coup., (Leavenworth Br.)..
do
Income bds, coup., 3d M.on 427 miles
Utah Central—Stock.....................................................
1st mortgage, g o ld ..... — ............................. .
Utah Southern, general mortg. (for $1,950,000)..
Utah South. Extern, 1st M., Juab to Frisco..........
Utah <t Northern.—1st mortgage...............................
Utica < Black River—Stock.........................................
£
Mortgage bonds.........................................................
Black River A Morristown, 1st mortgage..............
Clavton A Theresa, 1st mortgage, guaranteed_
_
Ogdensburg A Morristown, 1st mortgage.............
m
-iXn. Ohenanao < Susouehanna Valleu—Stook.......
&
Utica Clinton <- Binghamton—1st mortgage...........
£
Valley (N. T.)—Stock..................................................
1st mortgage........................ - - - - - - - - - - - - ..............
Valiev (Ohio)—1st mortgage, Clev. to Canton.............
Consol, mortgage gold (for $4.000,000)..................... ..
Valley (Fa.)—1st mortgage................................................................
Vermont &Massachusetts—Stock ..................................................
Bonds of 1883 (guaranteed by Fitchburg R R.) . . .
Vermont Valley o f 1871— Stook .......................... .. ......................
1st mortgage................................................................................................

1866 $1,000 $4,063,000
1865-7
6,303,000
1869
1,000
6,258,000
1866
1,000
18.000
1866
109,200
50 Ao.
100
4,225,000
1870
1,000
1,000.000
1879
1,000
1,950,000
1879
1,000
1.950.000
555,860
1,000
1878
5.543.000
100
2,223,000
1871
1,107.000
1874 50Ö Ac.
500,000
....
200,000
1883
1,000
143,000
100
4,000.000
’66-’72 500 Ao.
790,000
....
....
750,000
....
1881
400,000
1879 100, Ac.
1,600,000
1881
1,000
1,700,000
1881
1,000
750,000
100
3,193,000
....
1833
....
1,000,000
50
50
1,000,000
24 1880
1,000
800,000

6 g.
6
,6 Kr7
7
1
6 g.
7
7
1*9
7
4*4
7
7
7
5
3
6A7
5
5
7
6
6
3
5
3
5

J. A D. New York, 40 Wall St.
M. A N.
M. A N.
M. A S.
Q. -J.
J. A J.
J. A J.
Jr A J.
J. A
M. A
J. A
J. A
J. A
J. A
M. A
J. A

N. Y., Loud. A Frankf’ t.
New York, 40 Wall St.
N. Y.,Bk. of Commeroe
New York, 40 Wall St.
do
do
do
do
do
do

J. New York, 40 Wall St.
8. N. Y., R. W. A O. Co.
J. N. Y. Ceut. Trust Co,
J.
do
do
J.
do
do
J.
do
do
N. N. Y., D. L. A W. RR.
J. N. Y., Cont. Nat. Bank.
....
N. Y., D. L. AW.
do
do
F. A A.
J. A D. New York, Cent. Tr. Co.
M. A 8 .
do
do
A. A O. Balt, and New York.
A. A O.
Boston. Oifloe.
M. A N. Boston, Fitchburg RR.
J. A J.
Bellows Falls.
A. A O. Bost., SafeDep. ATr.Co

June 1, 1896
1895 to ’97
Sept. 1, 1899
Jan 1, 1896
July 1. 1916
Oot., 1884.
Jan. 1, 1890
July 1, 1909
July 1. 1909
In 1836
July 1, 1908
Feb., 1887
Jan. 1, 1891
Jan. 1, 1894
July 1, 1898
Jan. 1, 1891
Nov. 1, 1886
1386 A 1890
During 1886
Aug. 1, 1911
June 15,1906
Sept. 1,1921
Oot. 1, 1921
Oct. 7, 1886
May 1, 1903
Jan. 1, 1887
Oot. 1, 1910

------------ 1886.----------1883.
1881.
1835.
(J
*
$
Acres.
Proceeds
146,.00
$179,103 General income (profit and loss) t7,692,810
17,837,350 110,493,284
179,471
955,525 Income used for sinking fund.. 1,791,488
2,383,029
2,976,634
Land and trust income............. 5,714,689
14,180,742
18,641.134
Total..................... 1,051,845 $2,972,227
325,971 $1,134,628
Total liabilities....................212,259,843 222,333,523 226,279,509
Operations, Finances, A c.—1 he Union Pacific has made large earn
T
t After deducting deficit of U. 8. requirements, as compared with
ings and until 1883 and 1884 operated its road at a low percentage of
expenses. The competition ana reduction of rates by building of new accTued interest on U. 8. bonds Feb. 1,1880, to date.
i Not including 916,704 due to U. 8. under Thurman Act, paid April
lines was the main cause for the decline in earnings. The company has
extended rapidly and built and acquired mnoh new mileage, of whioh 16.1885.
the Utah Northern and Oregon Short Line are two of the most import­ -<V . 42, p. 61,148,157, 187, 217, 305, 339, 350, 410. 42 9. 43 2, 431,
488, 519, 537, 576, 601. 729. 783: V. 43, p. 50,161, 192, 245, 275, 309,
ant branches.
The oiaim of the Government for arrearages was decided in January, 353, 3 6 6 , 548, 608, 672, 738; V. 44, p. 22, 23, 60,118,149, 212, 344.)
1885, to be about $967,466, and was paid In full in April.
U tah Central—(¿fee map T n. Pacific)—From Ogden, Utah, to Frisco,
T
The Government directors’ report giving earnings to Sept. 30,1886, 280 miles. A consolidation July 1. 1881, of the Utah Central, Utah
was in the Chronicle, V. 43, p. 672, showing the following results :
Southern and Utah Southern Extension. Stock is $4,225,000 and 2 per
lst9 m os.’85. lst9m os.’86.
1883, gross, $1,174,737: net. $756,212. In 1884
Earnings........................................................... $18,272,613 $19,153,169 cent paid in 1884. In$1,038,938; net, $478,333. For 1885 gross earn­
earnings were
Expenses and ta x e s......................................... 11,819,407
13,068,427 grosswere $742,240 ; net, $287,853 ; fixed charges, $340,924; deficit,
ings
$53,071.
Surplus earnings entire system....................... $6,453,206
$6,145,242
Utah A Nevada.—Owns from Salt Lake City, U. T., to Terminus
Income from investments, premiums, &o. . . .
523,054
493,459 U. T., 37 miles. The Utah Western made default January 1,1878, ana
Proceeds miscellaneous land sales.................
7,908
9,839 the road was held by trustees for the bondholders, and was foreclosed
Profits on investments, pemiumi, A c...........
............
715,175 Nov. 3, 1880, and this company organized. Gross earnings in 1885.
Received from trustees K. P. consol, mort... .
75,840
643,230 $58,588; net, $30,011.
Reoeived from Pacific Express Co..................
............
111,075
U tah A N orthern—(See map Union Pacific)—From Ogden, Utah,
to Garrison, and the line of Northern Paciflo. with branches to Butte
Total income.............................................. $7,060,008
$8,118,020 City and Anaconda Mines ; total, 466 miles. This road forms a connec­
The net result, after deducting all charges and the amount due U. S. tion between the Northern Paoiflc at Garrisons, Montana, and the Union
Government, was a surplus of $2,183,927 for the nine months in 1886, Paciflo at Ogden. Stock $5,543,000, and 6 per cent dividend paid in
1884, and 1 per ceut Jan , 1885. The road was built by Union Pacific,
against a surplus <f $475,182 in 1885.
which owns $4,816,400 stock and $4,968,000 bonds. For the year 1885,
Gross earnings in 1886, $26,603,7 7; net, $8,995,178.
For one month from Jan. 1,1887, gross earnings were $1,737,353, gross earnings, $2,114,392: net, $371,360; in 1884, gross. $1,998,577;
net, $884,947; interest, dividends, Ac., $734,311; surplus, $150,636.
against $1,389,610; net, $430,068, against $231,313.
The earnings and income account for the whole Union Paoiflc system —(V. 43, p. 123.)
in 1884 and 1885 were as follow s:
Utica A B la ck R iv e r.—Utica, N. Y., to Ogden*burg, N. Y., 134
miles; Carthage to Sackett’s Harbor (leased), 30 miles; Clayton to
earnings and income account for 1884 and 1885.
Theresa, 16 miles; total, 180 miles. A consolidation with leased lines
1884.
1885.
was made in March, ls86, embracing this mileage. The company has
. $25,657,290 $25,925,172 paid moder ate dividends for a number of years. In April, 1886, the road
. 14,868,115
16,157,721 was leased in perpetuity to the Rome Watertown A Ogdensburg RR.
Co. at a rental guaranteed to pay fixed charges and 7 per oent yearly
Net earnings........ .................................
. $10,789,175
$9,767,451 on the stock. Gross earnings in 1884-5 were $796,081; net, $316,640.
Income from investm’ts outside of the syster l
406,416
1,382,811 - ( V . 42, p. 1 24,397, 488, 728; V. 4 t,p . 276.)
Proceeds miscellaneous land sales................
7,455
10,335
Utica Chenango A Susquehanna V alley.—Owns from Utica,
Profits on investments, premiums, Ac........
66,474
N. Y., to Greene, N. Y., 76 miles; branch to Richfield Springs, 22 miles;
Reoeived from trustees K. P. consol, mortt
total, 98 miles. Road opened October, 1872. Leased to Dei. Lack. A
on acoount of interest................................
249,415
207,110
Western at 6 per cent on stock. Has no bonded debt.
$11,367,707
Utica C linton A B in g h a m to n .—Owns from Utica, N.Y., to
Expenditures—
Randallville, N. Y., 31 miles, and leases Rome A Clinton Railroad, 13
$5,397,070
$5.336,267 miles. Total, 44 miles. Opened June 22, 1872, and leased to New
Discount and interest... . " " . " . * 1 . 1 1 1 . "
366,077
356,138 York A- Oswego Midland Railroad. The lease was transferred to
Ixisses on investments, premiums, Ac.
93,945 the Delaware A Hudson Canal Co., which pays the rental of $70,500 per
591,540
593,605 annum for U. Cl. A B. and $25,500 for Rome <s Clinton. The road was
T~— r —
i
,,
.
linea__. . . . . . .
1,213,036
1,191,010 operated by the Del. Lack. A West, till April 1,1883. Gross earnings
.Laud taxes and land expenses, Union Uiv .
84,837
39,920 in 1884-85, $218,802; net. $24,176. Gross in 1883-4, $214,371; net,;
Loss on Leavenw. Top. A 8. RR.,’83 and ’84.
21,578 $99,468. Capital stock, $636,285. Isaac Maynard, Pres., Utica, N. Y .Valley (N. V.) R a ilro a d .—Owns from Binghamton, N. Y., to State,
$7,652,562
$7,632,464
line of Pennsylvania. 12 miles. Opened Oetober, 1871. Leased to
$3,866,374
$3,735,243 Delaware Lackawanna A Western at 8 per cent per aunixm on stock,
1,187,110
1,184,053 which was reduced in 1882 to 5 per cent, the lessee assuming the interest
on bonds. Samuel Sloan, President. New York City.
$2,679,263
$2,551,190
V a lle y (Ohio),—
Owns from Cleveland, O., to Valley Junction, O.,
sheet for three, years is as
follows :
75 miles, and 20 miles of small branches. Of the consol, mortgage
$1,600,000 is held in trust to retire the first mortgage when due. The
GENERAL BALANCE AT CLOSE OF EACH Y E A R .
consol, mortgage is a first lien on the Cleveland terminal property.
1883.
1884.
Capital, $1,257,397, par $50. Earniogs in 10 months of 1886, $509,696;
Assets—
$
$
net, $239,488. Earnings in 1885, $569,192; net, $261,446; surplus
.157.391,640 158,918,607
over payments, $35,793.. (V. 43, p. 572.)
33,667,827
37,499,325
.Valley (V a.)~Owns frpm Harrisonburg to Salem, Va., 113 miles.
283,143
620.640
In 1883 it was extended from Staunton to Lexington, 36 miles. By
. 5,645,715
4,797,936
Materials, fuel, A c..........
this and connecting lines under, B. A O. control, the distance from Lex­
2,557,564
1,220,612
Denver Extension sink’gfu n d ’
ington is 243 miles to Baltimore and 217 miles to Washington. The
289,000
407,000
Trust 5 per cent sinking fund..
Baltimore A Ohio has a large interest in its securities. In 1883-86, gross
Ronds and stocks held fix trust. 3,210,950
receipts, $125,667; net, $37,303. In 1884-5 gross, $118,953; net,
3,215.200
$34,665. (V. 43, p.608.)
9,214,104
15,654,203
V erm ont A M assachusetts.—Line of road, Fitchburg to Green­
212,259,943 222,33fgË^3 226,279,509 field, Mass., 56 miles: branch, 3 miles. The road is leased to the Fitch­
Labilities—
burg RR. for 999 years at 6 per cent. (V. 43, p. 636.)
Stock.........
60,868,500
60,8687500
V erm on t Valley o f 1 8 7 1 .—Owns from Be Rows Falls to Brat60,368,500
Funded debt. I
84,506,332
84,173,285
81,957,682 tleboro, Vt., 24 miles, and by purchase of stock The Sullivan County
33,539,512
33,539,512
33,539,512 RR. from Bellows Falls to Windsor. Vt.. 26 miles; fatal, 50 miles. Con
13,863,041
15,324,738
15,167,214 trolled in the interest of the Connecticut River 'RR. The Sullivan
3,482,656
3,237,697
Jl,861,445 County RR. stock s deposited as collateral security for the above
795,915
788,671
774,104 mort. bonds. Earnings, Ac., for three years endii.g March 31, were:
Union Division...........
Kansas Division........




----------- 1885.----------- .
Acres.
Proceeds.
559,014 $1,002,111
492,831
1,970,116

253
394
245
34
427
280
36^
105
138
37
462
180
87
36
16
10
98
31
12
12
59
76
113
59

100

INTESTORS’

SUPPLEMENT.

[V ol. XLIV.

Subscribers w ill coilfer a great favor by givin g Im m ediate notice o f any error discovered In tliese Tables.
B onds—
Prlnci
INTEREST OR DIVIDENDS.
________________ DESCRIPTION.________________1 Mlle9 Date Size, or
pal, When Due
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes
of
Whom.
Cent. payable
Dividend.
on first page of tables.
Road. Bonds Value.

Vicksburg A Meridian—1st mortgage..................... ..
2d mortgage...............................................................
3d mortgage income (not cumulative)...................
Vicksb. Shrevep. A Pac.—Prior lien mort., gold........
1st mortgage, gold..................... .............................
3d mort., and 1st mort, on land, gold....................
Virginia Midland—Stock..................... .....................
Bonds, 1st series......................................................
do
2d series.....................................................
do
3d series................................................ —
do
4tli series.....................................................
do
5th series......................................................
do
6th series......................................................
Income mortgage bonds strictly cumulative.......
General mort., mt. guar, by R. & D., $12,500,000
Virginia A Truckee—l st M.(pay’ble $100,000 a year)
Wabash St. Louis A Pacific—Stock, common...........
Preferred stock, 7 percent (not cumulative)........
1st mort., gold (Ohio. D iv.)..... ...............................
1st mort., gold, Detroit Division.............................
Wabash, 1st mort. (Toledo & Illinois)....................
do
1st mort. (Lake Erie Wab. & St. L .)..w .
do
1st mort. (Great Western of 1859)..........
do
1st mort. (Quincy & Toledo)...................
do
1st mort. (DI. & So. Iowa) extended.....
do
2d mortgage (Toledo & Wabash).............
do
2d mortgage (Wabash & Western)..........
do
2d mortgage (Great West, of 1 8 5 9 ).......
do
Consol. M„ (on all but Dec. & E St.L.)..

$1,000,000
140 1881 $1,000
1,000
1,100,000
140 1881
140 1881 500 &c.
1,920,000
1,000
1,323,000
189 1885
1,000
4,000,000
189 1881
2,500,000
189 518862
4,940,363
100
354
600,000
1881
1,900,000
1881
1,100,000
1881
950,000
1881
1,775,000
1881
1,309,000
1881
3,985,583
1882
1,000
1,000
432,000
347 1886
1,000
300,000
52 1874
(If
(?)
4,500,000
262 1880
1,000
1,000
112 1881
2,052,000
1,000
900,000
75 1853
1,000
2,500,000
167 1853
1,000
2,496,000
180 1863
1,000
500,000
33 1865
300,000
29 1862 50Ö &c.
1,000,000
75 1853 250 &c.
1,500,000
167 1858 100 &c.
1,000
2,500,000
180 1865
1,000
490 1867
2,610,000

6
4 to 6
7
6 g.
6 £•
3-4-5

A. & O. N. Y.,Muller, Shall & Co.
M. & N.
de
do
do
do
New York.
M. & N.
J. & J.
do
1st coupon due Jan., 1888.

A prili, 1921
May 1, 1921
June 1, 1921
Nov. 1,1915
Aug. 12,1920
Jan. 1, 1916

6
6
5 &6
3-4-5
5
4 &5
6
5
10

M. * S. Balto., Mech. Nat.Bank.
do
M. & 8.
M. & 8.
do
M. & S.
do
do
M. & 8.
M. & S.
do
J. & J. Last paid July, 1884
M. & N. N.Y., Central Trust Co.
Q .-F ; San Fran., Bank of Cal.

Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Jan.
May
Aug.

1,
1,
1,
1,
1,
1,
1,
1,
1,

1906
1911
1916
1921
1926
1931
1927
1936
1889

iig
O.—F.
5 g. J. & J. Last paid Tan. 1,1885 July 1, 1910
6 g. J. & J. Last paid Jan. 1,1884 July 1, 1921
F. & A. Last paid Aug. 1,1884 Aug. 1, 1890
7
F. & A. Last paid Aug. 1,1884 Aug. 1, 1890
7
F. & A. Last paid Aug. 1,1884 Atig., 1888
7
M. (S. N. Last paid Nov. 1,1884 Nov. 1,1890
r
7
F. & A. Last paid Aug. 1,1884 Aug. Ï, 1912
6
M. & N. Last paid Nov. 1,1884 May 1, 1893
7
M. & N. Last paid Nov. 1,1884 May 1, 1893
7
M. & N. Last paid Nov. 1,1884 May 1, 1893
7
Q .-F . Last paid Nov. 1,1884 Feb., 1907
7

series
Gross
NetDivid’d, is a first lien between Manassas Junction and Harrisonburg, in­
Passenger Freight (ton)
Earnings. Earnings. Per ot. cluding Front Roj al Branch and lease of road from Strasburg to Harris
Mileage.
Tears. Miles. Mileage.
sonburg to the B. & O. RR., and a fifth lien between Alexandria and
$398,614 $113,784
6
188384 504,555.171 20,864,921
Gordonsville, including Warrenton Branch and lease of Charlottesville
373,598
110,747
6
188485 504,246.085 20,199,299
& Rapidan RR., and a fourth lien between Charlottesville and Lynch­
402,427
125,540
6
26,093,466
1885- 86 50 4,559,950
burg; the sixth series is a first lien between Lynchburg and Danville,
including Pittsville Branch and lease of Franklin & Pittsylvania RR.,
V icksb u rg Sc M erid ian .—Line o r R oad .—Vicksburg to Meridian,
Miss.; 140 miles. In October, 1885, the gauge was changed to the and a sixth lien on lease of Charlottesville & Rapidan Railroad.preferred
The
and 2d
standard 4 feet 8'a inches, and the transfer across the Mississippi at stock: income mortgage bonds were issued to retire 1st by the mortgage,
and secured
Vicksburg was completed. It is mainly owned and controlled by the and inthe interest is strictly cumulative, 1884, was paid. These bonds
July, 1885, the coupon due July,
Ain, n . O. Tex. & Pac. June. Co. The company was unable to earn full are
Interest, and reorganization was made in 1881. In 1886 the second est, exchangeable into the general mortgage bonds bearing 5 p. c. inter­
and guaranteed by the R ohmond & Danville RR. Co.
mort. interest was to be 5 per cent, then 6 per cent for thirty-five years.
Of the general
of
to retire
Preferred stock. $1,940,612; common stock, $3,962,100. Mr. F. 8. the serial bonds,mortgage bonds the 1836, $7,635,009 are heldbe issued
$4,000,000 for
Bond was appointed receiver of the company in la 85 on a small judg­ for floating debt, improvement, etc. incomes, and $365,000 to
ment obtained against it. (See his report in V . 42, p. 629.)
The annual report for
For purposes of comparison the following statement is given showing years ending September 1884-5 was in V. 42, p. 214. Earnings for the
30 were:
the operations of the company for four years ending March 3 1 :
Gross receipts. Operat’g exp’ses. Net receipts.
Miles.
1883-84.
1884-85
1885-86.
1882-88
Or088 earnings—
$1,491,921
$546,804
$945,116
Passenger receipts............ . $167,456 $190,215 $169,162 $164,818 1881-82 . . . !
1,664,204
956,194
708,009
354
296,973
307,609 1882-83 . . .
300,026
Freight receipts................ . 303,269
1,625,830
999,217
626,612
354
11,927
13,090 1883-84 .. . .
9,807
9,246
Mail receipts........... .
990.432
563.943
1,554,375
1884-85 .. .
354
7,467
5,342
6,445
4,818
Express receipts............... .
1,032,431
519,272
1,551,703
354
10,320 1885-86 ...
11,095
11.065
8,991
Miscellaneous.................... .
In 1882-83 $119,908 in addition to above expenses were spent for con­
struction, &c.; in 1883-4, $198.841 ; and in 1884-5, $89.835. New York
Total......................... ,. $495,851 $513,834 $195,603 $503,304 Office, 2 Wall St. (V. 42, p. 2 1 4 , 488, 519; V. 43, p. 488 ; V. 44, p. 204.)
465,967
443,240
410,861
354,527
Oper, expenses and taxes.
V irgin ia Sc T ru ck ee.—Reno, Nev., to Virginia, Nev., 52 miles»
The bonds are payable $100,000 per year. Gross earnings in 1883
$29,635
$60,064 were $705,224; net, $294.174; dividends, $142,500. In 1884 gross
Net revenue................ $141,324 $103,023
Interest on bonds................ $93,000 $103,083 $104,000 $114,083 earnings, $711,408; net, $325,001; dividends, $210,000. In 1885,
15,895 gross, $599,149; net, $282,668; interest paid, $47,500; dividends,
7,633
Int. on floating debt............................. 752 3,292
4,417 $180,000; bonds redeemed, $100,000; deficit, $44,832. While the
7,049
Land Department...............................
nominal stook is $6,000,000 the reports say that the amount of paid-up
capital is not known in consequence of the destruction of the books
Total........................... $93,752 $113,424 $111,633 $134,395 by fire several years ago. D. O. Mills, President.
Balance.............« ..............8ur.$47,572 Df.10,402 Df.81,997 Def$74,331 , W a b a sh St. L ou is Sc Pacific.—The roads East of the Missis­
sippi River (operated by Receiver Cooley, except the Detroit Division)
—(V. 42, p. 576, 6 2 9 ; V. 43, p. 636.)
embrace the following [pieces covered by the several mortgages: Toledo
V icksb u rg Shreveport Sc Pacific,—See Map Cincinnati New & Illinois first mortgages—Toledo to Indiana Statefline, 75 miles; Toledo &
Orleans A Texas Pacific. From Delta, La., on Mississippi River, to Wabash, second mortgages -Toledo to Indiana State line, 75 miles; Lake
Shreveport, 169 miles, and extension to Texas State Line. 20 miles Erie Wabash & St. Louis, first mortgages—Ohio State line to Illinois State
<the latter leased to Tex. & Pac.); total, 189 miles. The company was line, 166 miles; Wabash & Western, second mortgage, Ohio State line
chartered as Vicksburg Shreveport & Texas, and opened from Delta to Illinois State line, 166 miles; Great Western of 1859, first and second
to Monroe, La., In 1861; the rest of the line to Shreveport was not mortgage—Indiana State line to Meredosia and Naples, 111., 180 miles;
opened till 1884. The old road was sold in foreclosure Deo. 1,1879, Illinois < Southern Iowa, 1st mortg tge—Clayton to Carthage, III., 29
fe
and reorganized under present title. The stook is $3,000,000, of which miles; Quincy & Toledo, 1st mortgage—Clayton to Meredosia, 111, 33
the Ala. N. O. & Texas Paoiflo Junction RR. Co. holds $1,594,000, and miles; Decatur & East St. Louis, first mortgage—
Decatur to E. St.Louis,
controls this company, also holding $3,692,000 of the 1st mortg. bonds 108 miles; Hannibal & Naples, 1st mortgage—
Hannibal, Mo., to Naples,
$1,931,000 incomes. In 1885 it was voted to issue the above prior 111., 50 miles; Wab. St. L. & Pacific (Chicago Division), 1st mortgage—
bonds lor improving the road bed, completing the transfer across Streator, 111., to Effingham and Altamont and Strawn to Chicago, 268
the Miss. River, &c. In 1886 the old inoome bonds of $2,500,000 and miles; Wab. St. L. & Pacific (Detroit D.vision), 1st mortgage—Detroit to
the stook were to be exchanged for 3d mortgage and land bonds. (See Butler, Ind., 114 miles. The total mileage operated by Judge Cooley as
V. 43, p.104.) Gross receipts for 1885, $448,800, (V. 43, p. 104.)
receiver in Maroh, 1887, was 940 miles.
Organization, L eases, &c.—The Wabash St. Louis & Paoiflo was
V i r g in ia M id la n d .—Line op R oad.—From Alexandria to Gordonsville, 88 miles; Warrenton Branoh, 9 miles; Charlottesville to formed Nov. 7,1879, by a consolidation of the Wabash and the St. Louis
Lynchburg, 60 miles; Lynchburg to Danville, 66 miles; Pittsville Kansas City & Northern roads and their branches. The Wabash Com­
Branoh, 9 miles; Manassas Junotion to Harrisonburg, 114 miles (of pany had been organized Jan. 1,1877, as successor of the Toledo Wab
which 49 miles leased to Balt. & Ohio); Front Royal Branoh, 1 mile; & West., whioh company was formed June 25,1856, by a consolidation
total owned, 347 miles. Leased. Orange C. H. to Charlottesville, 28 of several companies, aud defaulted on its interest in 1875 and was fore­
piiift« • Pittsville to Rocky Mt., 30 miles: total leased, 58 miles. Total closed June 10, 1876. The St. Louis Kansas City & Northern was
owned and leased, 405 miles, of which 5 i miles, Strasburg Junction to formed in 1871 as successor of the North Missouri Railroad, which was
Harrisonburg, is leased to the Balt. & Ohio, leaving 354 miles operated. sold iuforeolosure August 26,1871.
In April, 1883, the Wabash St. Louis & Pacific was leased for 99 years
The Washington City Virginia Midland & Great Southern was a con­
solidation (November, 1872) of the Orange Alexandria & Manassas and to the St. Louis & Iron Mountain (and thus to the Missouri Pacific), on
Lynchburg & Danville railroads. The Orange Alexandria & Manassas the general basis of paying over to the Wabash its net earnings each year.
In May, 1884, Messrs. Solon Humphreys and Thos. E. Tutt were
was a consolidation (June 1,1867) of the Orange & Alexandria and the
Manassas Gap. The Washington City Virginia Midland & Great South- appointed receivers on the company’s own application in view of the
o m was put into the hands or a receiver July 1,1876, interest being in prospective default June 1 on the general mortgage bonds. Receivers
default, and was sold in foreclosure May 13,1880, and after litigation certificates were issued for about $1,400,000 and notes for $2,183,000,
sold again Deo. 20,1880. Reorganized as Virginia Midland, ana bonds to take up notes endorsed by Messrs. Gould, Humphreys and others, but
these were finally taken up by leaving to the said endorsers the $2,700,and stock issued as above.
, ,
_. .
_ „ _
A
In April, 1886, a lease of this road was made to the Richmond & Dan­ 000 of collateral trust bonds held by them as security.
The plan of reorganization was published in the Chronicle, V. 40*
ville on the basis of a payment or the fixed charges and the payment
by the lessee of any balance of net earnings to the Va. Midland Co. The p. 571, and, as afterward modified, in V. 41, p. 300, providing for the
lessee may if it chooses advance the money for interest on the six issue of $30,000,000 new debenture bonds, to be disposed of as there
aeries of prior bonds if earnings are insufficient, 'but guarentees posi_ stated; also the following points were embraced in the plan:
The whole property to be foreclosed under the general and collateral
tlvely the general mortgagees’ interest.
Of the above bonds, the first series Is a first lien between Alexandria trust mortgages, ani upon reoeipt of the new debenture bonds, the hold­
ers of general mortgage and collateral trust bond certificates to pay
a-nri Qordonsville, including lease of Charlottesville & Rapidan Railroad
and the Warrenton Branoh; the seoond series is a second lien between two per oent In cash on the face of the new bonds, for which they would
_
Alexandria and Gordonsville, including Warrenton Branch and lease of receive debenture bonds or scrip.
After the formation of the new company, the Purchasing Committee
Charlottesville and Rapidan RR., and a first lien between Charlottesville
will offer the new stook to the stockholders of the Wabash St. Louis*
and Lynchburg; the third series is a third lien between Alexandria and
Gordonsville, including Warrenton Branch and lease of Charlottesville Pacifio Railway Company, at the rate of eight dollars per share on pre­
At Rapidan RR., and a second lien between Charlottesville and Lynch­ ferred, and six dollars per share on common stock, who, for the amount
burg; the fourth series is a fourth lien between Alexandria and Gordons­ so Daid, will be entitled to debenture bonds, or scrip, dollar for dollar,
t
ville, including Warrenton Branch and lease of Charlottesville & Rapidan in addition to the shares in the new company.
The bondholders agree to take any stock and debenture bonds not
HR., and a third lien between Charlottesville and Lynchburg; the fifth




M a r c h , 1887.]

RAILROAD

STOCKS AND BONDS.

lO l

jBnhsrrlbers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered In these T a bles.
isonas—m n a IN’ rEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Boad. Bonds Value.
on first page of tables.
~

1

Wabash St. Louis <t Pacific—( Continued) —
Wabash, 1st mort., (Decatur &E. St. Louis) . . . . ..
do
Fund, debt bds. & so, certs, (see remarks.)
do
Mort., gold, sink. fd. $25,000 after ’82..
Hannibal & Naples, 1st mortgage...........................
Wabash «6 Western-Stock ...... ..................- - .........
Bt L. K. C. &No., 1st mort. (North Missouri)------do
real estate & railway 2d mort—
do 1st & 2d M.on St. Char. Bridge,ooup.or rg
St. Louis Council Bluffs & Omaha—
Btock.............
Ware River—Stock (guaranteed)................................
Warren (N.«T.)—Stock----- -------- ----------------- 2d mortgage, now 1st...............................................
Washington City <•Ft. Lookout—1st M. bonds gold.
£
1st mortgage loan........... -.......................................
1st
do
consolidated.......................................
Consolidated mortgage..................................- .........
Ocean City RR. bonds..............................................

199
'*50
354
354
*42
49
18
18
18
12
186
38
63
128

7
$1,000 $2,700,000
6 &7
3,009,850
500 &o.
2,000,000
1,000
?*•
500.000
1,000
«.
7**
6,000,000
1*86*5 i,o0 6
3.000.
000 7
1,000
1874
1,388,500 6 & 7 g.
1,000
1878
6
626.000
31*
750.000
i'oo
31*
1,800,000
50
185*5
750.000
7
1870
100
7
600.000
1875
6
540.000
1873
3
1,485,650
*‘ * *
50
1.000.
000 6
186*6 500&C.
7
1,000,000
1869 500 Sto.
6
748,500
1879 500 &o
6
100.000
1869
1877
1879
1879

accepted by stockholders, upon the same terms, pro rata, the amount,
however, not to exceed five per cent on the face o f their bonds.
The decree of foreclosure was made in January, 1886, and the road
sold April 26, 1886, to the purchasing committee, who were the only
bidders, the price for all the properties sold being $625,000. (See
V 42 p 537.) But there was some delay in the confirmation^ of
sale, the floating liabilities including receivers’ debt, &e., being
about $4,000,000, and there yet remained a large amount of over­
due interest on the prior mortgage liens. The Committee of Reorganiza­
tion in June, 1886, proposed to the holders of all mortgages on the road
east of the Miss. Kiver that their future interest should be reduced to 5
per cent and overdue interest funded to 1886,, (see proposal in V. 42,
p 695). Some bondholders made opposition to this, and after litigation
the receivers Tutt and Humphreys were removed by an order of Judge
Gresham, and Judge Thos. M. Cooley was appointed reoeiver of most of
the lines east of the Miss. River covered by the sectional mortgages. The
order made by Judges Brewer and Treat for the surrender of these lines
was in Vol. 44. p. 10. The purchasing committee afterward took pos­
session of the lines yet remaining in the Wabash system west of the
Mississippi River and organized the Wabash & Western. Suits to fore­
close the III. St So. Iowa mort. and the Great Western of 1859, also the
consol, mort. of 1867, were begun in Jan., 1887.
The situation of Wabash in March, 1887, was substantially this: The
Purchasing Committee had bought the whole property at foreclosure
under the general and collateral trust mortgages, which were thereby
extinguished, as also the stock. TheJCommittee then held the property in
trust for the j or mer holders of general and collators'trust bonds and
for the stockholders who had come into the plan and paid their assess­
ments. In the meantime suits had been started to foreclose the prior
mortgages on some of the lines east of the Mississippi River, and most
of those lines were placed in the hands of a new receiver, Judge Cooley.
The Purchasing Committee organized the new Wabash & Western to
include the lines yet in possession of the receivers west of the Missis­
sippi River, and also expected to take or to operate by consent the De­
troit Division, Butler, Ind., to Detroit, and the Eel River leased line.
AUXILIARY AND LEASED LINES.
Many of the branoh and leased lines formerly operated by the Wabash
St. Louis < Pacific have been foreclosed, and the following will give an
fc
account of them:
The Cairo Division is now the Cairo Vincennes & Chicago; Toledo
Peoria & Western was sold Oct. 29,1886, and will be found under its
own name; the Mo. Ia. & Nebraska was sold Aug. 19,1886, and is now
the Keokuk & Southwestern; the St. L. K. C. & Northern, Omaha
Division, was sold Dec. 28,1886, and is in process of reorganization;
the Clarinda Branoh sale was adjourned to March, 1887. The O. Divi­
sion committee issued a circular in March, 1887 (V. 44, p. 370). The
new bonded debt will be $2,30o,000 lsts, and 4 coupons will be funded
and 1 coupon held for betterments, a total of $2,702,500 4 per cent 50year gold bonds. Preferred stock will be issued to the amount of $2,208,000. The reduced interest from 7 to 4 per cent will be represented
by this preferred and by common stock to the amount of $2,300,000.
Holders of trust certificates for the old bonds deposited will get for each
$1,000 $1,140 in 4 per cent bonds, $960 preferred stock, and $1,00 «
common stock to be held in trust. The annual charge will be $108,500,
against $164,500 before. Net earnings f jr year ending March 6,1887,
estimated at $123,000. The Quincy Mo. St Pacific was sold in May,
1886, and is to be reorganized with stock only under a title yet to
be chosen. The Champaign Hav. & West, and the Rantoul (narrowguage) road were sold in Sept, and Oct., 1886, and were afterward
absorbed by the Illinois Central; the Indianapolis Peru & Chicago and
the Chic. Cm. & Louisville were sold Nov .13, 1836, and are operated
by the trustees of their mortgages respectively, Gen. Swayne and G. T.
M. Davis.
The Centreville Moravia &’Albia, Relay to Albia, 24 miles, was sur­
rendered by the Wabash, and has been operated by Thomas Thatcher,
reoeiver of the Missouri Iowa & Nebraska; a decree has been obtamed,
and the road may be foreclosed.
Stocks and B onds.—The old pref. stock had a prior right to 7 per
Cent (non-cumulative); then common to 7.
Prices of stock since 1879 have been: Common in 1880, 26hi®48;
In 1881, 33i*@60; in 1882, 235s®39’ e; in 1883, 15®36i*; in 1884,
4® 19%; in 1885,
in 1886 (pur. com. receipts), 12®245s; in
1887, to Mch. 19, lh^s® 19. Preferred in 1880, 51Q®8838; in 1881,
64J4®96i*; in 1882, 45’ 8®71«8; in 1883, 29%®57ifl; in 1884. 9®32;
in 1885, 6ie®25; in 1886 (pur. com. receipts) 233s®4178! ln 1887, to
Mch. 19, 23^®35.
First mortgage on St. Charles Bridge is for $1,000,000, and is 6 per
cent now, running absolutely till 1908.
The amount of funded debt bonds of 1877, due 1907 as above given
includes the scrip certificates for coupons funded and deposited in trust.
Which certificates amounted January 1,1883, to $1,014,453, and are
®^ohangeabie into the bonds. If not exchanged the certificates fall due
with the principal of the bonds from which coupons were cut.
'The collateral trust bonds of 1883 were issued for floating debt.
These bonds were guaranteed by the St. Louis Iron Mountain St
southern RK. Co., and in 1884 a mortgage was recorded on all the
Wabash property for $10,000,000 to the St. Louis Iron Mt. & Southern as
security for this guarantee. These and the general mortgage bonds
were to take new deoentures under the plan o f reorganization.




F. S t A. Last paid Aug. 1,1884 Aug., 1889
F. & A. Last paid Aug. 1,1884 Feb. 1, 1907
I. S t O. Last paid Oct. 1,1884 April 1, 1909
J. S t D. Last paid Deo. 1,1884 June 1, 1909
J. *& *J. N. Y., Bk. of Commerce, July i , 1895
*
Sept. 1, 1895
do
do
M. S t S.
1903-1908
do
do
A. & O.
J. *<fe*J. Boston, Bost.& Alb. RR
A. S t O. N.Y., Del., L. S t W. RR.
do
do
A. S t O.
do
do
M. S t S.
J. S t D. Baltimore, Balt.& O.RR.
M. & S. Phlla., Pa.RR.Co. Ottioe
do
do
J. S t J.,
do
do
A. S t 0.
do
do
M. S t N.
do
do
F. S t A.

Jan., 1887
Oot., 1886
April 1, 1900
March 1, 1905
1903
M’oh 15,1887
Jan., 1896
Oct.. 1899
Nov., 1909
Aug., 1925

Operations, F inances, &o.—1 he Wabash St. Louis St Pacific extended
T
its lines very widely in the years 1879 to 1882 (under the presidency of
Mr. Solon Humphreys), by the acquisition ot branoh and connecting
roads, and thereby assumed heavy liabilities. Although the earnings
Increased largely, the annual liabilities were still far in excess
of the net profits. The road was operated in close connection with the
Gould Southwestern system running into St. Louis, and the formal lease
to the St. Louis St Iron Mountain Company placed the Wabash in com­
plete control of the Missouri Pacific prior to the appointment of reoeiverg
for the Wabash.
Earnings, expenses, &c., for four years were as below, the mileage
being in 1882, 3,518 miles; in 1883, 3.560; in 1884, 3,582; and in 1885,
2,779.
INCOM ACCOUNT.
E
1882.
1883.
1884.
1885.
Receipts—
$
$
$
$
Net earnings............
4,611,431
3,584,195
2,610,329
1,899,938
328,760
452,566
240,339
68,553
Other receipts..........
Total incom e....
Deduct—
Rentals paid.............
Interest on debt.......

4,940,191
$
987,608
4,302,006

4,036,761
$
1,144,453
4,399,716

2,850,668
$
828,244
2,727,348

1,968,491
$
598,100
902,779

Total...................
5,289,614 5,544,169 3,555,592
1,500,879
Defloit, after interest
and rentals........ .
349,423 1,507,408
704,924 sur. 467,612
—(V. 42, p. 23, 52, 94,126,188, 217, 234, 305, 332, 339, 397, 463,
4 7 9,488,537,597,664,695,729, 7 5 4 ,7 5 5 ; V. 43, p. 24, 49, 50,73,
104, 164, 192, 217, 218, 238, 309. 369, 400, 460, 488, 515, 516, 548
580, 608, 638, 672, 719, 738, 766 ; V. 44, p. 10, 60, 119, 173, 185, 212
235, 369, 344.)
W a b a s h Sc W e s t e r n .—The road owned inoludes those parts of
the former Wabash St. Louis S t Paoiflo west of the Mississippi River that
remained in the system when the purchasing committee took possession
in March, 1887, embracing roads covered by the several mortgages, as
follows :
North Missouri first mortgage— Louis to Coatesville, Mo., Moberly
St.
to N. Missouri Jo., 354 miles; North Missouri second mortgage—
N. Market St., St Louis, to Coatesville, Mo., Moberly to N. Missouri Jo.,
354 miles; St L. K. C. S t N. (R. Est. S t Ry.), first mortgage—
Union Depot
to Ferguson Jo., Railway south of N. Market St. in St. Louis, and cer­
tain real estate, 11 miles; St. Louis Council Bluffs S t Omaha, Chilli*
oothe to Pattonsburg, Mo., 42 miles, leased at 6 per cent yearly on
Stock. (V. 44, p. 344,370.)
W a r e R i v e r .—Palmer, Mass., to Winohendon, Mass., 49 miles. It
is leased for 999 years to the Boston S t Albany Railroad at a rental of 7
per cent per annum. J. A. Rumrill, President, Springfield, Mass.
W a r re n . N. J . —Line of road, New Hampton Junotion to Delaware
Bridge, N. J., 18Q, miles. The road is leased to Delaware Lackawanna
S t Western at 7 per cent on stook and bonds.
Gross earnings, 1884
$496,744; net, $225,972. John I. Blair, President, Blairstown,N. J.
W a sh in g to n City Sc P o in t L o o k o n t .- Hyattsvllle, Md., to
Shepherd, Md., 13 miles, and to be extended. This road was opened in
1873. It is leased to the Baltimore S t Ohio for $36,000 gold par
annum. The stook paid in is $1,000,000. S. T. Suit, Pres’t.
W e s t J e r s e y .—Main line and branches—Camden to Gape May,
Bridgeton, Riddleton, Sea Isle and Ocean City, 132 miles ; leased lines
35 unies; West Jersey S t Atlantic Railroad., 34 miles; total, 200 miles
operated.
Gross earnings from Jan. 1 to Jan. 31,1887, were $76,828, against
$68,494 in 1886 ; net, $24,024, against $19,128.
The annnai report for 1885 was published in the Chronicle , V. 42
p. 548.
Income account for four years (including 1886) was as follows :
income account.

1884.
1883.
1885.
1886.
Receipts—
$
$
$
$
Gross earnings................ 1,227,654 1,319,648 1,286,012 1,352,460
503,305
476,617
503,274
Net earnings........................ 441,896
11,966
14,008
21,351
Other receipts......................................
Total Income.................. 441,896
Disbursem cuts—
$
36,571
Rentals paid........................
Interest on West Jer. debt.. 178,888
Net earn.of W.J.&A.RR.,&c 73,075
85,232
Dividends............................
6 p. c.
Rate of dividend..................

515,271
$
41,270
175,174
90,668
87,788
6 p. c.

490,625
$
39,098
175,174
81,990
89,113
6 p. c.

524,625
$
j 221,919
90,081
89,113
6 p . e.

Total disbursements.... 373,766
68,130

394,900
120,371

385,375
105,250

401,113
123,512

Balance, surplus.............
M V 42, p. 23,188. $49.)

103

INVESTORS’

SUPPLEMENT

fVoL. x u v .

Subscriber* w ill confer a great favor by giving im m ediate notice o f any error discovered In these Tables.
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes of
Road. B otida Value.
on first page of tables.
Cent. Payable
whom.
Dividend.

West Jersey < Atlantic—1st mortgage.......................
&
Pleasantville & Ocean City.....................................
West Shore—1st M., guar, by N.Y.C.& Hud., cp., rg.
West Virginia Central < Pittsburg—let mort., gold.
£
Western (Ala.)—Western RR. bonds, before consol..
2d mort.. guar, by Cent, of Ga. and Ga. RR.&B.Co.
Western < Atlantic (Ga)—Income bonds...................
£
Bonds to State of Georgia (not mortgage)............
Western Maryland—3d M., endorsed by Baltimore.
4th
do
endorsed by Baltimore....................'
Funded coupons........................................................
Baltimore & Harrisburg RR., M (for $690,000)..
Western North, Carolina—1st mortgage, coup.........
Consol mortgage, coup, for $3.425,000..................
2d consol, mort., coup. ($15,000 p. m.)..................
Western Pennsylvania—1st mortgage.......................
1st mortgage, Pittsburg Branca.............................
Registered bonds.......................................................
White Water—Stock ($325,000 of it pref.)...............
Wheeling < Lake Erie.—1st M., gold ($3,000,000)..
&
Wilmington Columbia < Augusta—S tock ................
£
1st mortgage..............................................................
Wilmington « Northern—Stock................................
Wilmington <t Weldon—Stock.....................................
Sinking fund bonds, gold ..........................................
Gen. mortgage for $4,000,000........................... ...

34
448
60
44
160
138
....
90
90
....
130
189
57
28
"65
186
227
"87
222

1880 $1,000
$400,000
....
100 &c.
80,000
1885 l.OOO&c 50,000,000
1,000
1881
1,100,000
1868
340,000
1870
1,000
1,171,000
1,000
1873
311,000
1886
3 ,35' 000
1870 500 &c.
875,000
1872
1,000,000
....
....
875.000
275.000
....
850,000
1.0Ö0
1881
2,575,000
1884
1,000
4,110,000
1863 500 &c.
800,000
1865 100 &c.
1,000,000
1883
1,000
2.500.000
1.300.000
1,000
1886
2,788,000
....
960,000
1880
....
1,600,000
1,278,050
100
2,082,400
936,000
1885
1,336,000

W e st Jersey Sc A tla n tic.—Newfield, N. J., to Atlantic City, N. J.
84 miles; Pleasantville & Ocean City RR., 7 miles; total, 41 miles
Bd '
■ ■ ■ ^ 1
H -----__ j: C
i
ey from trafflo of this road to be applied to any a elicit in interest
and then as sinking fund for bonds purchasable at 105, or drawn if
over that. In 1884 net earnings were $83,286. Stock is $744,500.
Two per cent dividend paid in July, 1884, three Jan. 1, 1885, two
September, 1885, two March 15, 1886, three December, 1886, and 21
«
Maroh, 1887.
W e st Shore.—Line of road from Weehawken, N. J., opposite N. Y (
City, to Buffalo, N.Y., with branches to Albany City and Rochester City
about 448 miles in all. This company was organized in December, 1885<
as successor to the N. Y. West Shore & Buffalo, sold in foreclosure.
Immediately on its organization the new West Shore Company issued
10,000,000 of capital stook, and made an authorized issue of $50,000,00 of 4 per cent bonds. A lease of the West Shore property to the New
York Central Company for 475 years was executed in compliance with
the plan of reorganization. The $10,000,000 of stock was handed over
to the New York Central Company in consideration of that company’s
guarantee of the principal and interest of the $50,000,000 of new bonds.
The mortgage is made to the Union Trust Co., as trustee, and covers
the line o f road, Weehawken to Buffalo with branohes, 448 miles in all,
and also the terminals at Weehawken by ownership of all the stock and
bonds of the Terminal Company. The guarantee of the N. Y. Cent. &
Hudson is absolute as to Interest and principal and is endorsed on each
bond. A review at much length of the status of the new West Shore
bonds was in the Chronicle, V. 42, p. 176.
The statement of the New York West Shore & Buffalo Co. for the year
ending Sept. 30,1885, shows: Gross earnings, $3,712,916; operating
expenses, $4,531,096; taxes and rentals, $670,769; total deficit,
$1,488,948, without payment of any interest on bonds. (Y. 42, p. 23,
156,176, 305,519, 755.)
W est V a . Central Sc P ittsburg—A coal and railroad company in
West Virginia in the upper Potomao i egton—the Elk Garden Coal Field.
November, 1884, in operation from Piedmont, W. Va., to Davis, W. Va.,
58 miles; Branch, Shaw. W. Va., to Mineville, 2 miles; total, 60 miles.
Owns 32,244 acres of coal and iron lands covered by the first mortgage,
and has mineral rights on 5,407 acres more. In 1886, net from coal,
$34,031; from railroad, $52,329; miscellaneous, $884; total, $87,244;
interest, $66,000; surplus, $21,244. In 1885, net profits on coai sales,
$48,872; net from railroad, $34,053; total revenue, $82,925; interest
paid, $66,000; surplus, $16,925. Stock, $5,500,000. H. G. Davis, Presi­
dent; S. B. Elkins, Vice-President; James G. Blaine, W. H. Bamum,
and others, directors.
W estern A lab am a .—L ine of R oad—Selma to Opelika, Ala., 116
miles; branohes, Opelika to West Point, 22 miles; total, 138 miles, of
which 50 miles is leased to Louisville & Nashville for $52,000 per
annum. Was a consolidation in 1870 of Montgomery Si West Point and
Western of Alabama. Sold May 1Ó, 1875, in foreclosure and purchased
Jointly by the Georgia Railroad and Central Railroad of Georgia. The
old stook and income bonds were wiped out in the foreclosure, and the
property is represented by the bonded debt and $846,000 due eaoh of the
above companies. There are also $32,000 second mortgage 8s of Mont­
gomery & west Point RR. due May 1, 1888. The gross earnings in
1888-84 were $457,597; net, $¡241,671.
W estern Sc A tla n tic.—Atlanta, Ga., to Chattanooga, Tenn., 138
miles. Built by State of Georgia and opened in 1850, and by an act of
October 24.1870, was leased to a company for twenty years at a monthly
rental of $25.000.
W estern M arylan d.—Line of R oad—Baltimore to Williamsport,
Md., 90 miles; Emniitsburg Branch, 7 miles; Edgemont to Shippensburg, Pa., 34 miles; total, 131 miles. The oapital stock is $683,750.
The company was largely assisted by the oity of Baltimore, and
was unable to pay all its interest. In 1886 the company proposed
that Baltimore city should pay off the $1,800,000 bonds embraced in the
first and second mortgages and take a mortgage on the railroad prop­
erty as security; this was aocepted by vote of the city, and on Jan,
1,1887, all the said bonds were retired.
The Baltimore S Harrisburg RR. was formed by consolidation in
c
1886 and leased to the Western Maryland, whioh also owns a large
amount of the stock; of the issue of $690,000 bonds, $415.000 are Iseld
in trust to pay off prior mortgages. The Western Maryland operations
for four years have been as follows:
Passenger
Freight
Gross
Net
Mileage
Mileage. Earnings. Earnings.
Miles.
188283.....131
16,201,680 12,876,711 $654,163 $254075
665,995
188384.....131
298,245
16,512,178 13,114,956
232,135
1884- 85..............131
14,602,158 11,670,486 619,217
617,561
15,946,659 10,878,194
239,137
1885- 8 6 ...........131
—(V. 43, p. 369, 432, 636, 670,738.)
W estern N orth Carolina.—Owns from Salisbury, N. C., to Paint
Rock, Tennessee State line, 190 miles; Asheville to Nantahala River, 84
miles; total, 274 miles. The road was financially embarrassed, and was
purchased April 17, 1875, by commissioners for the State of North
Carolina, ancfsubsequently finished by the Richmond Sc Danville Ter­
minal Railway A Warehouse Company, and is operated as a part of the
Rlehlnond & Danville srstem. In May, 1886, it was leased ’to- the R.St D. Company. In 1883-84 gross earnings, $435,069; net, $141,583.

§




6
6
4
6
8
8
10
41«
6
6
6
5
7
6
6
6
6
5

M. & S. Phila., Fidelity I. T. Co.
J. & J. Phila., Penn. RR. Office.
J. & J.
New York.
J. & J.
New York, Office.
A. & O. N. Y., Nat. City Bank.
à.. & O.
do
do
Q -J .
Atlanta, Co.’s Office.

Sept. 1, 1910
July 1, 1910
Jan. 1, 2361
Tuly l, 1911
Oct. 1. 1888
Oct. 1, 189<j
Oct. ’87 to ’9Ò
1916
J. & J. Balt.,N. Mechanics’ B’k Jan., 1900
J. & J.
Jan., 1902
J. & J.
Jan., 1902
M.
J.
A.
A.
J.
J.

& N.
Raleigh, N. C.
& J.
New York Agency.
& O.
& O. Philadelphia, Penn. RR.
& J.
do
do
& D.
do
do

5 g. A. & 0.
3
J. & J.
6
J. & D.

New York.
Baltimore.
N. Y. and Baltimore.

May 1, Ì890
Jan. 1, 1911
Oct., 1914
April 1, 1893
Jân. 1, 1896
June 1, 1923
Oct. 1, 1926
Jan. 10,1886
June, 1910

4
J. & D.
Jan. Í 5 , ¿887
7 g. J. & J. N. Y. ,Bost. ,Lond. .Frank
1896
5
J. & J.
N. Y. & London.
1935

In 1884-85. gross, $468,507; net, $324,351; deficit under charges,
$1,765. Stock, $4,COO,000 com. ana $4,000,000 pref. The second cons,
mortgage for $4,110,000 is held by the R. & D. Ter. R. S W. Co. and
c
also $1,325,000 of the 1st consols, given above. $850,000 of same bonds
are reserved to retire the lets.
W estern P en n sylvan ia.—The road runs from Bolivar to Alle­
ghany City, Pa., 63^2 miles; branch to Butler, Pa.. 21 miles; total. 84*a
miles. Completed in 1865 and branch in 1870. a new lease to the
Pennsylvania Railroad for 30 years was made in 1883, and an issue o f
$5,000,000 consolidated bonds was authorized. The Pennsylvania Rail­
road. lessee, owns $993,050 stock out of the total amount of $1,022,450
and $288,000 of branch bonds. Gross earnings in 1885, $1,159,514:
net, $477,981. In Deo., 1886, paid 3 p. o. div.
W h ite W a te r .—Valley Junction, O., to Cambridge City, Ind., 65
miles. This was formerly the White Water Valley, sold in foreclosure
May 2,1878, and reorganized under this title. Gross earnings in 188283, $104,234; deficit, $5,979. Elijah Smith, President.
W h e e lin g Sc L ake E rie.— Toledo, O., to Bowerston, O., 174 miles,
and branch to Huron, O., 12 miles. Foreclosure begun in July, 1884,
and M. D. Woodford appointed receiver. The road was sold April 23,
1886, and purchased by trustees of the reorganization oommittee fo r
$505,000. (SeeV. 42, p.537.) New company organized in July, 1886,
with stock of $3,600,000, of wt ich $3,513,400 issued to March 1,1887.
Gross earnings in 1886, $588,099; net, $129,113. Geo. J. Forrest,
President. (V. 42, p. 94, 157, 488, 537, 775; V. 43, p. 50; V. 44, p. 118,
149.)
W ilm in g to n Colum bia Sc A u g u sta .—Owns from Wilmington,
N. C., to Columbia, S. C., 189 miles. Leased jointly, the Central RR,
of South Carolina, Lane, 8. C., to Sumter, S. C., 38 miles. Total oper­
ated, 227 miles.
Road was sold in foreclosure, October, 1879, for $860,500, and com­
pany reorganized under present style.
In June, 1885. the road and property of this company word leased for
99 years to the Wilmington & Weldon, the lessee to pay all m erest and
fixed charges and 6 per cent dividend on the stock, payable semi-annu­
ally in January and July. In 1884-85 net receipts were $242,^34; the
surplus income over interest and dividends was $88,934; in 1883-84
similar surplus, $58,720.
W ilm in g to n Sc N orthern.—Owns from Wilmington Del., to
Birdsboro, Pa., 64 miles ; branohes, 24 miles; total owned 87 miles;
traokage leased, 5 miles; total operated, 92 miles. This company
was organized Jan. 18,1877, as successor to the Wilmington Sc Reading
RR. Co., which defaulted on its interest and was sold in foreclosure Dec.
4, 1876. Has bonds amounting to $228,700 in several small issues.
Gross earnings in 1884, $346,056 ; net earnings, $64,452. Paid interest,
$11,456 ; bonds redeemed, $5,300.
W ilm in g to n Sc W e ld o n .—Road extends from Wilmington to
Weldon, N. C., 163miles; branch to Tarboro, 17 miles; Scotland Neck
Branch, 20 miles; also operates Midland N. C. RR., Goldsboro to Smithfield, 22 miles; total, 222 miles; also under construction branoh from
Wilson to Fayetteville, 70 miles. Was leased November, 1872, to Wil­
mington Columbia & Augusta Railroad for 99 years. The lessees made
default December, 1877, and the lease was surrendered April 13,1878.
In June, 1885, this oompany took a lease for 99 years of the Wilming
ton Columbia S Augusta. (See that company above.
c
The fiscal year ends Sept. 30. The report for 1884-85 was in V. 41
p. 687
Earnings andinoome account for three years is as follows:
e a r n in g s a n d

EXPENSES.

1882-3.
Earnings from —
Passengers.............. ............ $263,241
............. 426,133
Freight....................
Mail, express, etc.. ............. 108,055

1883-4.
$271,461
412,993
103,500

1884-5.
$289,852
425.979
109,126

Total earnings.............. $797,429
Operating exp. and taxes... 601,549

$788,014
493,383

$824,957
451,816

Net earnings...................$195,380

$294,631

$373,141

1883-4.
$294,631
23,942

1884-5.
$373,141
29,937

INCOME ACCOUNT.

1882-3.
Receipts—
Net earn ings....... ............. $195,380
.............
26,073
Other receipts........

$403,078
$318,573
Total................. ............. $216,053
Disbursements—
79,365
$80,698
Interest................... ............. $80,641
Dividends............... .(6 p. 0.) 124,914 (8 p . C.) 166,592 (8 p. C.) 166,592
$245,957
$247,290
Total........ —. . . ............. $205,585
$157,121
$71,283
Balance, surplus... ............. $10,468
—(V. 43, p, 636.)
W isc o n sin Central.—Owned on Deo. 31,1884, the main line and
blanches Stevens Point to Menasha, 65 miles; do. to Ashland, 186
miles ; do. to Portage City, 72 miles; branches and spurs,25 miles; total
owned, 349 miles. Leased: from Neenah to Bchleisingerville. 64 miles

CANAL STOCKS AND

M arch , 1887. J

BONDS

103

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered In these Tables.
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size or
pal, When Due.
Amount
of
of
Par
For explanation of column headings, Ac., see notes
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Road. Bonds Yalue.
on first page of tables.
Cent.
Whom.
Dividend.
Wisconsin Central—Consol, mort., land grant, pref.
ist series...................................................................
2d series, inoome (not cumulative)........................
Mort. Minn. St. Croix A Wis. R R ............................
Wisconsin < Minnesota—1st mortgage.....................
£

326
326
326
104
51

1879
1879
1879
1884
1880

Chic. Wis. & Minn.—1st mort., g old ......................
Worcester < Nashua < Rochester—S tock ..................
£
£
Bonds, mort. (to be refunded when due at 4 p. o.)
Bonds, mortgage......................................................
Bonds, mortgage......................................................
Nashua & Rock., 1st mortgage................................
W. N. & R.—Mortgage.............................................

122
94

....
....

C A N A L S.
Albermarie dt Chesapeake—Mortgage bonds............
Chesapeake < Delaware—Stock.................................
£
_ 1st mortgage (extended in 1886)...........................
Maryland loan, sinking fund...................................
Guaranteed sterling loan.........................................
Bonds having next preference................................
Repairbonds, Act 1878...........................................
Delaware Division—S tock..............— .....................
1st mortgage (extended 20 years in 1878)...........
Delaware <t Hudson—
Stock........................................
1st mortgage, registered.........................................
Debenture loan of 1894, coup and reg................
1st M., coup. & reg., on Penn. Div. ($10,000,000)
Lehiah Coal < Navigation—Stook..............................
£
Loan, conv., coup., gold (assumed L. & W. Coal Co)
1st mortgage, reg. (extended at 4*2)......................
1st mortgage, registered, railroad...................... .

48
—
14
14
14
184
184
134
184
6Ó
60
148
148
339
. ...

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

1,000
100
luí) &0.
1873 500 Ac.
1875 1000Ac.
1874 500 Ac.
1,000
. ...
1879

$360,000
3,800,000
5,700,000
2,600,000
810,000
640,000
2,860 000
3,099,800
275,000
250,000
400,000
575,000
150,000

1,000
500,000
50
2,079,213
1856 Vario’s
1,975,000
25
3,851,593
500 Ac.
2,000,000
500 Ao.
4,375,000
500 Ac.
1,699,500
....
....
314,000
50
150,200
1858
1,000
800,000
100 24,500,000
187Ì
1,000
5,549,000
1874
1,000
4,829,000
1877 lOOOAo.
5,000,000
50 12,676,700
1869 500 Ao.
747,000
1864
Var.
5,000,000
1867
Var.
2.000,000

Packwaukee to Montello, 7 miles; operated under contract, Milwaukee
to Schleisingerville, 33 miles. Total operated, 450 miles.
In January, 1879, the Wisconsin Central Road was taken possession of
by the trustees for bondholders, who still operate it. There is a land
grant of over 800,000 acres. The reorganization was practically accom­
plished by consent, and only *247,000 old bonds are unassented Liti­
gation is pending as to $200,600 bonds in New York Court of Appeals,
as to preferences claimed by one holder. The scheme embraced the
issue of a new consolidated mortgage to cover $400,000 5 per cent
preferred bonds; $3,800,000 first series bonds, now bearing 5 per cen t:
and $5,700,000 second series bonds, to draw interest if earned (but
not cumulative) at 7 per cent. Interest on the second series is
payable J. and J., but dependent eaoh time on the net earnings of the
naif year ending six months before. The stock of $11,435,500 remains,
$2,000,000 of it preferred and $9,435,500 common, and is all deposited
in trust with Stewart and Abbot, Trustees, to be voted on until all interest
is being earned and paid on new bonds, and in the judgment of the trus­
tees is likely to continue so to be. Trustees’ certificates for new stook
(without voting power) have been issued to the old stockholders, which
pass as a delivery on sales.
In March, 1882, the Trustees and Company leased for 99 years the
Milwaukee & Lake Winnebago RR., from Neenali to Sohleisingerville,
which was completed in December, 1882; the rental is 37^ per cent of
gross earnings up to $175,000 per year, all surplus to go equally to
lessor and lessee,and the bonds are issued subject to this lease. The Wis.
& Minn, and Minn. St. Croix A Wisconsin RR., built in 1884. gave impor­
tant extensions, reaching St. Paul from Abbottsford, via Chippewa Falls,
159 miles. From Milwaukee this company makes use of Ohio. Mil. &
St. Paul tracks 24 miles; an extension from Schleisingerville to Chicago,
116 miles, a new road finished in 1886, is known as the Chic. Wis. &
Minn., andis a close connecting line of the Wis. Central, though the latter
is nor, responsible for its obligations.
In 8ept.. 1886, a circular was issued by Mr. E. H. Abbot, one of the
trustees, to stockholders of Wis. Central, inviting them to subscribe
$1,500,000 cash for the securities of the Penokee Railroad, about 50
miles from the “ Colby” mines (Bessemer) Mich, to Mellen on the Wis.
Central. (See. V. 43, p. 309.) In Y. 43, p. 48, is an abstract of the annual
report for 1835. For three years the earnings, &c., were:
„
.
1883,
1084.
1885.
Gross earnings................................ $1,447,798 $1,429,075 $1,461,001
Operating expenses........................
973,732
957,745
941,881
Net earnings.............................
Rent’ls, ear service,license fee& txs

$474,065
351,405

$471,330
319,650

$519,123
310,406

Balanoe......................................
-(V . 43, p. 48, 309, 432.)

$122,660

$151,679

$208,716

W is c o n s in Sc M in n e s o t a . -Owns from Abbotsford, Wis., to ChippewaFalls, 54 miles. Leases Chic. Wis. & Minn. RR., Schleisingerville,
Wis.’ to Chicago, 122 miles, and branch 8 miles projected. These
roads form the Chicago division of the Wisconsin Central, and enter
Chicago over the Chicago A Great Western.

5
5
7
6
7
'6 *
3
5
5
5
5
4
7

M.
J.
J.
M.
J.

A
A
A
A
A

N.
Boston, Office.
5 p. ct. yearly
J.
do
J.
do
1909
N. N.Y., Farmers’ L.AT.Co.
1914
J. N. York, J. B. Colgate. Jan. 1, 1910

M. A S N. Yo k, J. B Colgate.
J. A J
Worcester, Office.
Various
do
do
A. A O. Bost., Globe Nat. Bank.
F. A A.
do
do
A. A O.
do
do
J. A J.
do
do

J. A J.
J. A D.
J. A J.
J. A J.
6
Q- J
5
Q—J.
6
J. A J.
6
J. A J.
2
F. A A.
6
J. A J.
l 1 Q-Mch.
*
7
J. A J
7
A. A O.
7
M. A S.
2
J. A D.
6 g. M. A S.
43fl
Q—J.
6
Q -F .
6

March 1,1916
Jan 10,1887
May 1, 1887
A p rili, 1893
Feb. 1, 1895
April 1, 1894
Jan. 1, 1906

N. Y., Union Trust Co. July 1, 1909
Philadelphia, Offioe.
do
do
July i , 1886
Balt., A. Brown A Sons.
London.
Balt., A. Brown A Sons.
Balt., Farm.A Meoh.Bk,
Phila., 226 So. 3d st.
do
do
N. Y., Bk. of Commerce.
do
do
N.Y. Office A Bk.of Com.
do
do
Philadelphia, Office.
do
do
do
do
do
do

1870
1890
1885
1898
Feb. 15, 1886
July 1. 1898
M’oh 15,1887
1891
1894
Sept. 1, 1917
Deo., 1886
1894
July 1, 1914
1897

railroads, viz: Lackawanna & Susquehannah, Nineveh, N. Y., to Jeffer­
son Junction, Pa., 22 miles; Valley RR., Carbondale to SorantouPa.,
17 miles; Union RR., Green Ridge to Mill Creek, Pa., 17 miles ¡P ly­
mouth A Wilkesbaire RR. and bridge, 3 miles; Gravity RR., Olyphant
to Honesdale, 56 miles; total owned, 114 miles; traok of Jefferson RR.
used by contract, 35 miles; total operated in Pennsylvania, 150 miles
This company is among the largest miners and carriers of authraolte ooal,
The stock was Increased to $30,000,000 (of whioh $23,500,000 issued
to Jan. 1,1886) to pay off the bonds due In 1884 and 1891. Of the
remaining $6,500,000, $1,000,000 will be issued in 1887, and $5,500,000
in 1891, to take up an equal amount of 7 per cent bonds. To share­
holders of May 24,1883, there was allotted 35,000 shares to be paid for
at par. To shareholders of Oct, 1, ’86, there were allotted 10,000 shares.
The annual report for 1886 in V. 44, p. 243, had the following:
The President, in commenting upon the result of operations in 1888,
whioh showed a trifle over 5 per cent on the stook, says: “ Tuis result
is better than could have been reasonably anticipated, considering the
very low price at which ooal ruled for the larger part of the year, and
could only have been reached by the exercise of strict economy in the
various branches of the company’s service. A very marked improve­
ment also in the business of the leased lines has ai led the general out­
come, and the loss of $313,329 on these roa Is as reporte l for 1885 has
been reduced during the past year to the comparatively small sum of
$ 11,694.
Comparative statistics for four years:
PR O FIT AND LOSS.

1883.
1884.
1885.
1886
Receipts—
$
$
$
$
8ales of coa l....................... 9,575,362 8,213,157 7,201,019 7,399,095
Canal tolls..........................
52,403
47.240
51,551
58,410
287,038
Miscellaneous profits........
486,929 I 792,716
633,867
Interest on investments...
257,541
284.464 S
Coal on hand (Dec. 3 1 )....
745,436
892,804
649,905
332,653
Railroad earnings in Penn.
888,559
830,542
694,941
841,662
Profit on leased lines.......
1,905
T otal.............................11,803,244 10,755,136
Disoursements—
$
$
492,924
745,436
Coal on hand Jan. 1..........
Mining ooal........................ 4,996,195 4,549,480
"Joaltransportation, A o...
811,873
557,500
Janal freight andjexpenses 1,642,844 1,455,805
Interest.............................. 1,321,941 1,198,885
taxes and miscellaneous.
546,624
585,416
Loss on leased railroads......................
174,490
Balance............................... 1,995,843 1,488,094

9,393,162
a
892,804
3,975,297
592.803
826,987
1,0 -¡2,768
522,777
313,330
1,186,396

9,265.637
$
649,905
4,239,907
873,517
767,151
1,069,067
468,929
21,695
1,175,485

Total............................11,808,244 10,755,136 9,393,162 9,265,687
GENERAL BALANCE AT CLOSE OF EACH FISC A L FE A R .

1883.
1884.
1885.
1886.
Assets—
$
$
Canal.................................. 6,339,210 6,339,210 6,339,210 6,339,210
Railroad and equipment.. 6,957,188 6,463,684 7.134,018 7,257,329
Real estate.......................... 9,035,163 9,325,365 9,628,325 9,725,394
Mines and fixtures............ 2,796,329 2,792,417 2,795,576 2,792,511
Coal-yard, barges, Ao.......
670,678
790,779
934,856 1,007,821
Lack. A Susquehanna RR. 1,022,938 1,022,938 1,022,938 1,022,938
Albany A Susq. R R ..........
520,164
............
New York & Canada R R .. 3,597,074 3,597,074 3,597,074 3,597,074
Cherry Yal. & Sharon RR.
300,000
300,000
300,000 300.000
Vtechan. & Ft. Edward RR
52,113
51,v*23
59,131
59,972
Sehen. & Meehan. RR.......
211,280
211,527 211,765 212,993
Coal on hand Deo. 31...........
745,436 892,804
649,905
332,652
Advances to leased Unes.. 921,663 1,502,789
330,737
861,729
TiC™
r
D e la w a r e .—Delaware City to Chesapeake City. Md.
Vdvances on ooal royalties 648,724
698.125
720,055
756,040
of
» heavy defalcation by the Treasurer and an over-issue Miscellaneous assets........ 3,944,549 3,372,061 2,740,040’ 2,586,396
69,410
43,035
43,035
was nrn«XS«dil80?irered’ Probably over $600,000, and in Sept., 1H86, it Telegraph and Car Co___
14,735
nf
by
company to retire old bonds and issue $2,600,000 Supplies,tools,&c.,on hand 1,466,143 1,611,254 1,185,028 1,135,412
See v a ? ^ G bonds maturing in 1916, thus covering the over-issue, Cash and bills receivable.. 3,914,976 2,823,813 3,964,939 4,459,007
Q«-rr
were stir»
In.
6Dldla2 May 31, 1886, gross receipts
10,894 and net $151,9 j «; interest charge, $119,621; surplus,
Total assets...................................... 43,213,038 41,843,804 41,656,64242,461,213
$32,345. <V. 42, p. 604; V. 43, p. 22, 49, 367.)
p
’
v ^ , o r c e * fe^ <k N a sh u a Sc R o c h e s t e r ,—Owns from Worcester to
ria&nua and Nashua to Rochester, 94 miles. This consolidated company
*883>by a merger of the Worcester A Nashua and its
leased line, the Nashua A Rochester.
lfia«0
’ 1 8§5’^ tease of this property fop 50 years, from Jan. 1,
+
’oWa8
*° ^be Boston & Maine RR. Co. at a rental of $250,000
ana taxes. A financial statement of Jan 1,1887 was in V. 44, p. 91.
CANALS.
»
*
C h e s a p e a k e .—Canal between Chesapeake Bay
oe n -'^ !i^ marle 8?uad, N. C., 14 miles. Gross earnings 1884-85, $70,U O surplus over interest,. $5,000. Pres’t, Marshall Parks, Norfolk, Va.
O,

State
® h !o .—This company was assisted with loans by the
s u i n aW ^ d- K baelongbeen unable to meet its interest. In a
r ^ fv g r ^ n ih^H mpn ^ the Court (January, 1881) declined to appoint a
e
a^d Da^nenta^ordered the company to report at stated times its receipts
a n d sa j^ f ttfA/Jnro1 1 ’
1?
applicatwn again made for a receiver
in l « « ? ° l “ e canal. In 1883 gross earnings, $329,527 ; net, $34,474 ;
Pail8il8 f!6 6 7 .7 v Q42?pW
575.) ^35,929; expenses, including interest
1
^Leased to Lehigh Coal & Navigation Co. at
been nonmi>tSd8 and 4 per cent a year-on stock. 29,663 shares have
3,004 s^ res mconvert^d 8 00
& Nan« alion stook, leaving only
eb a rt^ A
n
%
*
7
D®
laware & Hudson Canal Co was
dal«
' 1823, and the canal from RondoutN. Y. to Honesdale, Pa., was completed in 1828. The company ow n sth e foUo^tog




«ook ........................................................20,000,000 23,500,000 23,500,00024,50(^000
Bonds...................................................... 18,763,000 15,378,000 15,378,00015,378,000
Miscellaneous accounts... 2,444,732
778,072
812,002
694,392
Profit and loss........................................ 2,005,306 2,187,732 1966,640 1,888,821
Total liabilities........... 43,213,038 41,843,804 41,656,642 42,461,213
* These miscellaneous assets inolude the following: Sundry bonds,
1*72*545; 6,500 shares Albany & Susquehanna RR,, $650,000; 16,078
shares Rensselaer & Saratoga RR., $1,607,800; sundry stocks, $256,050.
-(V. 42, p. 167, 1 8 6 ; V. 43, p. 163, 398, 635; V. 44, p. 184, 2 1 0 , 212,
2 4 3 , 335.)
Lehigh Coal Sc N avigation .—The Central Railroad of New Jersey
assumed (in purchase oi equipment) $2,310,000 of the gold loan due
1807 and leases the Lehigh & Susquehanna Railroad. The Lehigh A
Wnkesbarre Coal Company assumes $500,000 of the gold loan due 1897

INVESTORS’

104

SUPPLEMENT,

[VOL. X LTV.

Subscriber« w ill confer a great favor by givin g Im m ediate notice of any error discovered In tbese Tables.
Bond«—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stock»—Last
of
For explanation of column headings, &e., see notes of
Whom.
Dividend.
Cent. Payable
Canal. Bonds. Value.
on first page of tables.

Lehigh Coal rf Navigation—{Continued)—
Mort. loan, g. ($2,810,000 assumed by other 00’s.'
Consolidated mortgage loan....................................
Greenwood 2d mortgage, reg. Extended, 1877..
General mortgage......................................................
Morris—Stock, consolidated... v .............................
Pref rred stock
New mortgage (for $1,000,000)......................
Preferred stock scrip dividend........................
Pennsylvania—Stock.
General mortg., interest gear'd by Penn. K E ....
Schuylkill Navigation—
Stock, common....................
Preferred stock.........................................................
1st mortgage, extended............................................
2d mortgage...............................................................
Mortgage bonds, coup, (payable by P. & R .) ........
Improvement bonds..................................................
Boat and car loan, (payble by P. & R ) ..................
Boat and car loan ( do
do ) ..................
Susquehanna—Maryland loan, 2d mortgage............
Susquehanna Canal, common bonds, 3d mort.......
do
pref. bonds. 1st mort............
do
pref., 1st T. W. priority b’ds.
do
bonds of 1872,4th mort..........

103
103
103
326
326
108

1867 $500&o. $4,653,000
2,465,000
1871
1,000
643,000
1872
1,000
1,000
2,035,000
1884
100
1,025,000
100
1,175,000
1,000,000
’76-’85 1,000
103,164
1869 various.
4,501,200
50
1,000
2,934,000
1870
684,912
50
3,298,050
50
1,000
1,691,730
3,990,392
1,000
1,200,000
228,000
1870
1,000
756,650
1,000
1863
628,100
1,000
1864
1,000,000
1839
1,326,000
1,000
1859
227,500
500
1884
97,810
500
1884
250,000
1,000
1872

«.«/I $771,000 (all) of the convertible gold loan due 1894. Bonds matur­
ing 1884 were extended till 1914 at 4»«. The Board of Managers’ re­
port for 1886 had the following statement of receipts and disbursements:
Receipts—
1884.
1885.
1886.
From railroads and Nesque. Tunnel. $1,458,200 $1,459,035 $1,464,381
65)971 ' ' sn 99.ii
50,220
T-Ahigh Canal, inol. water powers.......
97,969
071
11,038 def. 1,995
Delaware Division Canal.....................
58,951
396,108
135,104
Met profit on Lehigh Coal....................
370,101
Royalty on coal mined by lessees,
52,524
80,797
63,330
revenue from rents, do., d o .............
$2,048,551 $1,984,676 $1,728,507
Disbursements—
General and legal expenses...............
Rent and taxes Nesquehoning Val.RR
Rent and taxes Delaware Div. Canal.
T a x e s ............. ................ .
Interest account.......... ........... - .........
Balanoe of earnings......... ...................
Less sink. fd. of 10 p. c. p. ton on coal
Less depreo’n on ootu, impr’ v’m’ts,&o.
Total...............
Surplus for year............................
Balanoe to credit of div’d fd. Jan. 1 ..

$58,460
97,050
69,921
80,078
854,069

$59,454
73,081
61,965
80,039
844,488

$58,948
75,526
39,581
89,739
844,692

$1,159,578 $1,119,027 $1,108,486
$888,973 $865,649 $620,021
$80,717
$93,558
$89,419
76,026
86,869
............
$156,743 $180,427
$732,230 $685,222
9732,280
679,936
665,934

$89,419
$530,602
683,843

$1,398,164 $1,365,158 $1,214,445
T o ta l................................................... !PJj’2s,5»1
L
-°£

Dividends.....................................
Rate of dividend.......... .......................

$718,228
$718,228
6

$681,315
6

$570,408
413

Balanoe to credit of div’d fund Deo.31 $679,936 $683,843 $644,037
The annual report for 1886 in Chronicle, V. 44, p. 274, said:
The earnings of the Lehigh & Susquehanna RR. system increased
«78,304 06, and were larger than in any year before, with the exception
of 1883. The chief gain was in freight and express earnings, and, while
the svstem of railroads does not extend beyond Scranton, we have been
able to get an increasing amount of Northern and Western business, as




6 g7
7
4Lj
2
5
7
7
6
35c.
70o.
6
6
6
6
6
7
6
6
6
6
7

J. & D. Philadelphia, Office.
do
do
J. & D.
do
do
F. & A.
Q .-F .
do
do
F. A A. Leh. Val. RR. Co., Phila.
do
do
F. A A.
do
do
A. & O.
do
do
F. & A.

1897
June 1,1911
1892
1924
Feb. 7, 1887
Feb. 7, 1887
April 1,1906
Feb., 1889

J. & J. Phila., 233 So. 4th St.
....
Philadelphia, Office.
....
do
do
Q. —
M.
do
do
do
do
J. & J.
do
do
J. & J.
do
do
M. & N.
do
do
M. & N.
do
do
M. & N.
J. & J. Phila. and Baltimore.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.

July, 1910
Feb. 15,1884
Feb. 15,1884
March, 1897
1882 to 1907
1895
May, 1880
May, 1913
May, 1915
Jan., 1885
Jan. 1, 1918
Jan., 1894
Jan., 1894
Jan., 1902

well as to share in the increased volume of local freight traffic, so that
notwithstanding the steady decrease of freight rates for some years, our
earnings from this source have largely increased, having averaged in
the four years 1875 to 1878 $278,324 09, in the four years 1879 to 1882,
$498,708 08, and in the four years 1833 to 1886, $729,579 51. The coal
tonnage also increased, being, with the exception of than of the year
1883, the largest that has ever passed over the road, and only falling
3,994 tons below that of 1883. Our total revenue for 1886 was $1,728,507, a deorease since last year of $256,168, which is more than ac­
counted for by the lessened profit on coal, whioh was $261,003. The
disbursements show a deorease of $10,540, and the remainder shows a
deorease of $245,627. From this remainder $89,418 has been deducted
for the coal sinking fund, and two dividends, one of two and one-half
per cent and one o f two per cent, amounting together to $570,408, have
been paid, which drew on the dividend fund to the extent of $39,806.
The work of developing our coal lands has been pushed forward vigor­
ously through the year, and the rate of production of our mines can be
fully maintained during the coming season. (V. 42, p. 2 4 1 ; V. 43, p.
634; Y. 44, p. 2 74.)
M o rris.—Leased April, 1871, to Lehigh Valley Railroad for 999
years. The lessees assume bonds and scrip, and pay 10 per cent per
annum on pref. stock and 4 per cent on consol, stock.
P en n sylvan ia..—Worked] in interest of Pennsylvania RR., which
guarantees interest on bonds.' An old mortgage balance of $67,000 is
due in 1887. Earnings in 1886, $281,385; net, $79,537; interest, $170,640; loss, $91,103. Earnings in 1885, $274,207; net, $128,765; interest,
$175,350; def., $46,584.
Sch u ylkill N avigation.—Leased from June 1,1870, to Philadel­
phia & Reading for 999 years. The unpaid rental by P. & R. to Deo.
§1 1886, was $1,287,993. The P. & R. has paid some of the cou­
pons and purchased others, but in Dec., 1886, interest was not paid,
and in March, 1887, the P. & R. oeased to operate, and withdrew its
boats. The report for 1886 (V. 44, p. 210) gave a statement of the com­
pany’s relations to the P. & R. company and a history of its prosperity
in former years. (V. 42, p. 207; V. 43, p. 658; Y. 44, p. 140, 2 1 0 , 370.)
Susquehanna.—Leased and operated by Philadelphia & Reading
Railroad for interest on bonds and half of net earnings. The stock is ex­
changed for Pliila. & Reading, two of oanal stock for one of Reading,
The floating debt is considerable.

M ar c h , 1887.]

MISCELLANEOUS

STOCKS

AND

BONDS.

105

Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these T ables.
Bondi-Prin of
DESCRIPTION.
INTEREST OR DIVIDENDS.
Date I Size, or
pal, When Due*
Amount
Par
For explanation of column headings, &o., see notes on of
Rate per When Where Payable, and by Slocks—Last .
Bonds Value. Outstanding Cent. Payable
first page of tables.
Whom.
Dividend.
$100 $ 12, 000,000
3
Adam» Express—Stook........... . .............................................
Q .-M . N. Y., Company’s Offloe. Mar. 3, 1887
100
American Bell Tetephone-8too\i....
....................
3
9,802,100
Q .-J- Boston, Compy’s Offloe. Jan. 15,1887
100 14.000.
000 IQ
Aster. Tel. A Cable—Stock, guar 5 by West. Union..............
Q .-M . N. Y., West. Union Tel. Mar. 1, 1887
Asteriean Coal (Maryland)— t o c k ...............................
S
2
25
1.500.000
M. & S. N. Y., 1 Broadway.
Mar. 10, 1887
100 3',009,000
American Cotton Oil T ru st-Certificates..............................
100 18.000.
000
Asteriean Express—Stock......................................................
J. &*J. N. Y., Company’s Offloe. Jan. 3,1887
100
3.000.
000
Cameron Iron A Coal Co...............- ..........*-.........................
Canton Company—Stock (44,300 shares)..............................
719,875
164*
100
Central A South Amerie m Telegraph—
Stock.......................
4,006,600
Ï”
Q.^J.
Jan, 1887
Colorado Coil A Iron—S t o c k ................ — . . . . . . . . . . . . .
10, 000,000
100
1,000
1st consol, mortgage, gold................................................... 1880
6 g. J & A, N.Y., Company’s Offloe. Feb. I, 1900
F.
3.499.000
Columbus A Hocking Coal A Iron Co.-S to ck ......................
100
4.313.500
lstmort..g., sink, r d (on 13,351 at res I'd, mines «&b’d’gs) 1887
1,000
1.000. 000
6g- j . & ’j. N. Y., Central Trust C o. Jan. 1, 1917
100 10.250.000
Consolidation Coal o f Maryland—Stock..............................
75o.
N.Y., Co.’s Office. 71 B’y Jan. 28, 1887
1st mortgage, consolidated, convertible.. . . . . . . . . . . . . . . . 1872
1,000
2.444.500
J. & "j.
6
do
do
Jan. 1, 1897
100 35,430.060
Consolidated Cos (tf.Y .)—Stock.............. - ............................
IQ
Deo. 15 , 1886
Bonds, Municipal Gaslight Co.............................................
M. &
291.000
7
Farmers' Loan & Tr. Co. May 1, 1888
Bonds, Metropolitan Gaslight Co......................................
6
638.000
F. A
do
do
Aug 1, 1901
Bonds. Knickerbocker Gaslight Co.....................................
651.000
6
J. &
N. Y., Company’s Offloe. June 1, 1898
Cumberland Coal A Iron—8took........ ................................
100
500.000
6
A. &
N. Y., 19 Courtland St.
(»>
Equitable Gas Light C o—Stock.............................................
100
3,<100,000
New York Offloe.
Jan. 15, 1887
Q-—•
Bonds................................... — ........................ ............. -1, 000,000
100
Gold A Stock Telegraph -Stock...............................................
5.000.
000 IQ
Q .-J . N. Y., West. Union Tel. Jan. 1, 1887
500
500.000
6
IM. & N.
Bonds...................... .......... - ...............................................
do
do
Nov., 1887
International Ocean Telegraph—Stock..................................
3.000.
000 1Q I Q .-J . N. Y., West. Union Tel Jan. 1, 1837
100
Iowa RR. Land Co.—Stock.............................................. .
769.100
2
M. & N. Boston, Treas. Office. Nov. i, 1886
Iron Steamboat Company—Stock...........................................
2.000.
000 3
Nov. 1, 1886
500
Bonds..................................................................................... 1881
500.000
6
J. & "j. N. Y., First Nat. Bank. July l, 1901
Lehigh A Wilkesbarre Coal—Stock........................................
8.700.000
Sterling loan..........................................................................
6
....
1.725.000
1899
Mortgage loans ($110,000 are 7 s )......................................
593,211
6A7
c
N. Y., 160 Broadway,
Consol, mort. ($6,116,000 of this held by Cent, of N. J.). 1875
1,000 11.500.000
7
Q.—M.
do
do
June Í, 1*900
Sundry mortgages .............................................................
366.409 5, 6 & 7 I ....
do
do
Adam « Express.—No reports; no information.
INCOME ACCOUNT.
1885,
1886.
Am erlcau B ell Telephone C o.—See report for the year ending Net
$227,373 $331,611
Dec. 31,183 > in Chronicle, V. 42. p 430. In 1885 paid 16 per ceut Add earnings...........................................................
,
lnoome from investments, &o
8.650
dividends, including two extra dividends. (V. 42, p. 430.)
Total...............................................
$342,261
Am erican Express.—No reports.
Less interest on bonds..............................
...
209,940
2)432
Am erlcau Telegraph Sc Cable C o.—Owns two cables between Less interest, discount and exchange.................
Sennon Cove, England, and Dover Bay, Nova Sootia. The stook of
_
,
$212,372 $209,940
$20,000,000 was 70 per cent paid up, and in April, 1832, a pooling ar­
Surplus..................................................
sur.25,744
132,321
106,577
rangement was made with the other cable companies for 33 years, by increase m 1886 over 1885 ......................................................
which this company receives 22Q Per cent of combined revenues while
In the real estate department the earnings are wholly from rentals of
3
both its cables are working and 12 > per cent if only one is working houses, lands, &o., containing no reoeipts from land sales. (V. 42, p.
wbtoh percentages hold good for one year after any breaking of the 3 3 7 . 463.)
cables; if not repaired within that time the percentages are reduced
C olum
in
according to the time that the cables remain broken. Then this com­ organized bus Sc H o c kO., g ; Coal Sc Iro n Co.—The oompauy was
at Columbus,
Jan. 26.1833, and Its general offices are at
pany’s cables were leased to Western Union for 50 years, with a guar Columbus,O.; Mr.Walter Crofts, President. The N.Y. offloe is at 10 Wall
auty of 5 per oent per annum on the stock issued—
$14,00 J.000.
St. Tne oompauy owns large co il and Iron properties, with e< tensive
c
Am erican Coal.—There are mortgage bonds for $230,000. The works thereou, in Ohio, ana a full description of these was published in
annual report for 1886 gave the following information : Income, 1886, the Chronicle of Feb. 26, 1887, V. 44, p 278. The total property
$444,839; total expenses and dividends, $442,857; balance. $1,931. and assets on Jan. 1,1887, as per balance sheet, were $5,657,535.
The gross earnings, operating expenses and net earnings of the com­
—(V. 42, p. 2 7 1 ; V. 44, p. 2 7 4 .)
pany from March 1,1883, to January 1,1887, were as follows
Am erican Cotton Oil T ru st.—This is a “ Trust” formed to con­
Date.
Gross earn’gs. Oper. Exp, Net earu’gs.
trol a large proportion of the cotton seed oil mills of the United States
$
The Board of Management consists of nine trustees, of whom three are March 1, ’83, to April 1, ’84.. 1,‘<67 282 10 1,527,747 79 139.534 31
elected each year. The title deeds of the several properties owned are April 1 , ’84, to April 1 ,’85.. 800,5x4 90
700,041 91 100,542 96
deposited with the trustees, who issue their trust certificates of $100 April I, ’85, to April 1, ’86.. 1,220,924 37 1,060,505 88 160 418 49
each, and tlu-se are dealt in at tho ExoliaugfS. Tiie certificates liave 1April 1 , ’86, to Jan. 1 .’87.. 1,050,172 70
919,882 81 130,239 87
ia
been issued to the amount of about $40,000,000, as repo ted. but no
Interest charges per annum on bonds of $ 1,000,000, $60,000.
official statements are made, and no definite information rearard- - (V . 44, p. 278.)
ing the eonctru is obtainable Tlie Board of Management is comConsolidated Gas o f New Y o r k .—
This company was organized
po5.e d« ? f
w - p - Anderson, F. H. Baldwin, of Cinoin Nov. 11,1884,
New York,
nati; W. H. Burnett, of Chicago; J. W. Coohrane, of Memphis; E. Uruu- panies merged under ohapter 367, laws ofGaslight, the1884. Tue com­
In it were the New York
art,Lilt e Rock; J. Aldige. New Orleans; Lyman Kiapp. Providence, Ight, the Metropolitan Gaslight, the Manhattan Gaslight Municipal Gasand the Harlem
R L; J L. M tcaulay. New York. The principal office of the Trust is at Gaslight. The total stock was $39,078,000, of which $3,647,940 was
18 Broadway, New York. The officers a "6 Joun V. Lews, President; E reserved for working oapital and for Indebtedness of old oompanles.
Urquart, Vice-President; J. L. Macaulay, Treasurer; Jules Aldige, Seo’y. —(V. 42, p, 22, 215.)
Cameron Iron Ac Coal Co.—This company was orgauized by let­ „ C o n s o lid a t io n C o a l.—Annual report for 1886 was in V .44, p. 210.
ters patent of the State of Pa., and file l its certificate D ;o. 7,1886 The gross receipts from mines, railroads, rents, 1885.
1886
+ * v ? r 8 and Pr<>peity are near Emporium, Pa , a id formerly b longed
&o. (Incl’g value of st’ok of coal on hand), were. $2,055,313 $2.039.427
to the Cameron Coal Co. Nicholas C. Miller, President, N. Y. SeeV. Tot. expen’s of every kind (exol. of int. & sink, fd.,
44, p. 117,149,184.
but incl. steel rails & all extraordin’ry outlays). 1,750,772
1,783,442
Net receipts ..................................................... $304,540
$255,935
The int. ana sink. fd. In 1886 took $16o,831; balance, surplus, $ i9 ,153.
Consolidated mortgage bonds are held to retire old b mas. This com­
pany guarantees also 2d mortg. bonds of the Cumberland & Pennsyl­
vania, and assumes $135,000 of the Union Mining Co.’» bond-«. The
total bonded debt on lanas and railroads is $2,417,500. (V. 42. » 2 1 4
V. 44, p. 2 10.)
'
4
E q u itab ’e Gas L ight C o .-Incorporated March 9, 1*8 ?. Owns
three b.o ks between 39th an 1 i2d St»., First Ave. and East River; also
32 lotsbetween 58th an 1 59th Sts and 10th and 11th Aves Total assets,
±x£7’ $ >,128,242; mains about 79 miles; gas works valued at
• ie vea?end7n ^ w ^ w y
;
I m p r o v e m e u t .-T h e statement for $2,032,520; real estate at $1,159,265. Office, 340 Tuird Ave R M. C.
$44^476
k8 8 j’ «bowed total receipts in 1385 of Graham, Presid nt.
i A1 o^kince «beet, December 31, 1885, gave the following
ie
owned; Newark lands, $255,408 - Bergen $537 076 • International Ocean Telegraph C o.—The Western Union Oo.
& b$3& % 95£ ; Westfield $26,307; F a n w o o i I f l s i s e i f f f l : operates the line oy contract for 99 years from Jan. 1,1882, paving 6
7in v S f £ 56 L Donenen, $346,048; Somerville, $77,861; Clinton. per oent per year on stook.
I
S
$2®-313 ; Pbilllpsburg,$1,500; total. $2,239,294.
G old & Stock Telegraph Co.—Operated by West. Uo. Tel. Co. bv
j>
uhus, o2 $25,883; land contracts, $15,890. (V. 44, p. 241.)
o.,
contract for 99 years from---------- '82, at 6 per cent --------------- -------■ •
----------1 per annum on stock
, , - - --------« -------------- Jan. 1, — ,
and bonds.
toC
ClmrHhn?
T e le g r a p h .—Line from Vera Cruz, Mexico,
Io w a ,R a ilro a d L a n d .—The total land owned was 34,979 acres
lm d S
C t o ^ i ^ h^ mnc^e8’ v’Q ? “ b® of cable and 335 miles of
lo
8
C o a e tT l ^m pieted November, 1882. Connects at Lima with West Marcn 31,1880.
Iro n Steam boat Co.—Property consists of seven iron steamboats.
andat V e m to iz
1-700 miles of cable to Valparaiso,
bonds
Mex*
can Telegraph Co. Stock Is $5,000,000; no Bonas and stock listed in June, 1882. Stock, $2,000,000. Gross earn­
$154 i 79 Sarn«ae A s e ^ cc" 3:U 1886, after providing for dividend, ings in 1885-6. $337,707; net, $38,333. Paid Interest on bonds, $28.6U
,on 8toob < Per cent» Nov- ’86> $60,0 0 0 ; deficiency.
3
2 74 )
J
A- Sori’ulBer> p res’t, » . Y. (V. 43, p. t 6; V. 44, p.
$49,832; but there was a surplus from previous year of $40.508.
leaving deficit Oct. 1, 1886, $9,324. (V. 43, p. 452.)
„ L e h ig h & W ilk e s b a r r e C o a l.—This company was organized Feb.
b, 1874. It is controlled by the Central RR. of New Jersey through
ownership of a majority of the stock, and the Central of New Jersey
owns $6,116,000 of the consol, mortgage bonds and $2,353,000 of the
‘ “4
1887,
M‘‘ toh 26- Income bonds. The L. & W Coal Co. also assumes and oounts as part of
* i“ nded debt $747,50 >bonis due 1894, and $500,000bonds due 1897,
EARNINGS AND EXPENSES.
Lehigh Coal & Nav. Co. The company was in receiver’s hands
------ 1885.
1 8 3 6 .---------- with Central of New Jersey, and in March, 1882, the receiver was dis­
Gross
Net
charged and property returned to its stockholders. Mr. W. H. TillingdOt
Gross
has", Pres’t. N. Y. City. The annual report for 1886 was in V. 44, d. 274.
Earnings.
Coal department............. $757 460 $134^ §n>
- (V .4 2 , p. 2 1 4 ; V. 44, p. 2 74.)
Coke department........... ^322)427
110 077
$1,197,270 $285,400
M ariposa Land Sc M in in g.—There are outstanding only 15,000
Iron ^ { 8tea < ep’t ....... 5 «?,2 3 6 108826,427 *
eL L
690,083
654,346 shares, the balance being owned! by company. Litigation has been In
R e ¿ “ í“ ? !
.............
7,937 1o88.2;Ò96
progress many years and nothing done on the estate.
loss.9
jveai estate dep’t.........
2a km
’
7,059
24,953
8,308
Miscellaneous earn’gf.
4*720
M a ry la u d C oa l C o .—No late report. The business of 1882 included
4.729
5,140
5,140 total shipments of 97,777 tons.
, The profit and loss account in 1882 was as follows: Balance Jan, 1
Tota1« ....................... $ :,6 7 M 4 0 $227,373 $l,v 17,449 $333,611
1882, $16,780; balance credit coal account, $ 2 1,88 3—$41,666. ExCanton Company (B alt.)-T h e capital stook, by changes made
subsequent to the original issue, beoame praotically only $16 25 par
«^ re . aod was reduced by purchase and cancellation to 44,300
snares. A brief bb*tory of the company was given in V. 30. p. 117. The
compaiy owned the stock of the Union RR. Co. and guaranteed its bonds
1882S fm- inaa nook on,60?..’0, 0*
<
0
the Northern Central RR. in April.
_ior $59^.000. The Union RR. sinking fund of $689,885 remained
t e e n ^ ^ n f f ' ^ ^ i 12? ” b£Lis Vel? H , tru«tee« till bonds have
Jffiy,
7520
* of Caaton Co' bonds were paid




106

IN V E S T O R S '

SU P P LE M E N T.

[V o l X L iV .

Subscribers w ill confer a great favor by givin g im m ediate notice o f any error discovered in these Tables.
Route—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
Date Size, or
pal,When Due.
Amount
Par Outstanding Rate pei When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes on first of
Whom.
Cent. Payable
Bonds Value.
Dividend.
page of tables.
Lehigh d Wilkesbarre Coal—(Continued)—
$100 &c. $3,472,300
7
Inc’me bds,reg. (not cum.) $2,353,000 held by Cent. N.J.
100 10 ,000,000
Mariposa La,nd dt Mining—
Stock...........................................
5.000.
000 . . . .
100
Preferred stock.
1,000
250.000
1875
Mortgage bonds
li«
4.400.000
100
M aryland Coal—Stock.
1.000
7
161.000
B o n d ..........................
4
1.434.400
100
Mexican Telegraph—Stock.
5.000.
000 1
100
¡few Central Coal—Stock..
3
2.500.000
25
N. Y. Mutual Telegraph—Stock, guaranteed 8 per cent —
5.000.
000 6
1,000
1st mortgage bonds, gold, guar, by West. Union . ......... 1881
1.500.000
100
Neva York Perry Coat < Iron Co.— t o c k ........................
&
S
1*4
1.500.000
50
•• •
•
New Yorfy < Texas Land <Limited) —Stock
£
2.946.400
Land scrip receivable 75 per cent for lands................
7
35,000
Debentures« registered.......... .
2.500.000
50
2Bia
Northwestern Telegraph—Stock
1.180.000
7 g.
Bends, interest guaranteed
000 4
Too 7.000.
Oregon Improvement Co.—Stock
5.000. 000
1,000
1st M., gold, sink, fd., $309,000 held in s. f., but draw int 1880
6 g.
8
None issued.
2d mort. for $1,200,000 {redeemable any coupon day.). 1885
Too 20 ,000,000
Pacific Mail Btsamshvp—Stock
1*4
50
5.000.
000 4
Pennsylvania Coal—
Stock
1
50
6.500.000
Philadelphia, Company—(Natural Gas) Stock
7.000.
000
Postal Telegraph dt Cable Co.—Stock ($21,000,000)...........
3.000. 000 ~6*
1st mortgage (for $10,000,000)
2
100
15,927,200
Puttman Palace Oar—Stock
1872
1,000
8
445.000
Bonds, 3d series
1,000
1872
8
820.000
Bonds, 4th series
1,000
7
955.000
1878
Bonds, debenture
40c.
100
5,708,700
Quicksilver Mining—Common stock
100
4,291,300
Preferred 7 per cent stock, not cumulative
1*3
100
900.000
Railroad Equipment Co.—Stock (for $1,500,000)................
2*3
Var’s.
6
1.000
4.574.000 ‘
Coupon bonds. (See remarks below.).
penses—interest, $7,091; interest on bonds, $11,270; taxes, $7,781 !
salaries and expenses, $13,221; legal expenses, $501—$4.0,276; bslanoe
Jan. 1,1883, $1,389.
M exican T elegraph .—Company organized in 1878 under laws of
New York State. Has a oable from Galveston to Tampioo and Vera
Cruz, 733 miles; land line, Vera Cruz to Mexico City, 267 miles,
Has exclusive right for 50 years for all foreign telegrams to Mexico,
except telegrams to and from a neutral zone on the United States
border 156 miles wide, between the Gulf and Pacific Ocean Company
owns l,o62 shares of the Central A South American Telegraph Co. Rev­
enues m '36, $221,001; expenses, $59,290; dividends, 8 p. c., $114 .
752; surplus, $46,959; total surplus Deo. 81,1836, $68,715. Capital
stock is $1,500,000. Jas. A. Sorymser, Prest., N. Y. (V. 42, p. 339; V.
44, p. 274.)
N ew Central Coal (M d .)—The annual report for 1886 in V. 44, p.
274, showed net profits for year of $7,818; and balance to credit of
profit and Iobs Deo. 31,1886,of $252,684. (V. 42, p .271; V. 44, p. 274.)
N ew Y o r k M u tu a l T e le g r a p h .—The Mutual Uniou Telegraph
Co. Waft organized under New York State laws. Stock was $600,000 and
afterward increased to $10,000,000. In Feb., 1883, a lease to Western
Union fbr 9‘9 years was agreed to at l*a per cent yearly dividends on
the stock and interest on the bonds. The organization was ohanged to
the New York Mutual Telegraph Company and the stock was reduced to
$2, 506,000, oarrying dividends of 6 percent per annum.
N. Y . A Perry Coal A Iro n C o .—
c
This company was organized
under the laws or New York In Jane, 1885, as a reorganization of the
N. Y. & Straltsville C *al A Iron Co., which was foreel iBed. The assets,
as per balance sheet, on Nov. 1, 1886, were $1,816,698, and debts
pramically nothing. A full exhibit was published in the Ch ronicle of
Feb 26,1867. (V. 44, p. 277. Office, 15 Srate S t, N. Y. Uty; C. R
Griegs, President.
N ew Y o r k A Texas Lan d—This company took the lands granted
c
to the International and Houston A Great Northern railroads, about
5,000,000 aores, whloh were given in settlement to tbe boldeisof con­
vertible and 2d mort. bonds. Jim e30,1886,had 3,574.400 acres unsold.
N orthw estern T elegraph .—This company owns 8,000 miles of
wire and is leased to Western Union for 99 years, with guaranteed divi­
dends of 4 per cent at first, rising one-eighth per cent a year to 6 in
1897 and afterward. The bond interest is guaranteed.
Oregon Im provem en t C o .—
This company owns $3,000,000stock
of the Beattie TJoal A Transp. Co.; $575,000 stock of the Columbia A
Puget Bound RR.; $1,969 900 stock of the Paoiflo Coast 8. 8. C o.;
Floating debt May 31, 1886, $913,381, and assets $439,820 (seereport
in V, 43, p. 308). For year ending Nov. 30, 1835, gross earnings were
$2,881.95/; net, $611,916; in 18->5-a6 gross, $2,934.818; net $7.6,003. Gross earnings Deo. 1 to Deo. 31 in 1836, $264,469, against
$211,094 in 1835; net, $14,493, against $29,172. (V. 42, p. 125 243,
365, 488, L04. 728; V. 43, p. 49,191, 3 0 8 , 459, 579, 746; V. 44; p. 91,
212. )
Pacific M a ll Steam ship.—The Paoiflo Railroads gave to the steam­
ship company a monthly subsidy of $85,000 per month—
this agree­
ment terminable on 30 days’ notice after Nov., 1885. aud such notice
whs giYenin Feb., 1886, and the agreement stopped. The annual report
for fiscal year ending April 30,1886, was in the C h r o n i c l e , V. 42, p.
662. President, J. B. Houston, N. Y.
At the annual meeting of the stockholders in May, 1886, the follow
lng were re-elected directors for the e m u i'g yea r: Messr*. Jay Gould,
Russell Sago, C. P. Huntington, Henry Hart, William Remsen, Edward
Lauterbaob, J. W. Shaw and J, B. Houston.
The following is a statement of the earnings and expenses for tbe
years ending April 30 :
earnings .

Atlantio Line...................................
Panama Line...................................
Trans-Pacilio lin e ..........................
Australian Line..............................
Austral’n and N. Zeal, subsidies..
Cent. Am. and Mexican subsidies..
Hawaiian Government subsidy...
Interest and divs. on investments.
Miscellaneous............... ..................
E xch a n ge.......................................

1884-85.
1883-84.
$991,094 $1,0 6,172
1.790,927
1.848.781
1,547,225
1.251,762
159.066
369,288
8 7,364
180.190
100,250
105,500
5,500
2.667
1883-84.
1884- 5.
$14,766
$14,691
43,853
45,666
6.047
33,278

1885-86
$957. *10
1.603,536
1,534,272
166,*14
48,788
101,0 0
2.647
1 * 8 5 -6 .
$21,253
4u, <63
3.33 3

Total........................................... $4,787,899 $4,826,193 $4,479,939
E X PE N SE 8.

Atlantio Line.................
Panama Line..................
Trans-Pacilio Line.........
Australian Line...... .
Agencies........................
Miscellaneous expenses

___

1*83-84.
$57«.,125
1,167.2*4
635,4*9
408,324
392.785
2 Ì4.480

18*4-85
$579,028
l,lo0 .5 0 i
7 3 ,3 9 2
194,718
413.185
184,309

1885-86.
$6o8.065
1,080.241
7 14 .100
149 490
457,367
170.1U1

Total......................................... $3.394.419 $3,209,138 $3,179,454
Net earnings............................ $1,393,480 $1,617,055 *1.300.485
No balance sheet to April 30, ’86, wa* given in the annual report :
—(V. 42, p. 126, 243, 6 6 2 ; V. 43, p. 368; V. 44, p. 212.)




M. A N. N. Y., 160 Broadway.

May 1, 1888

J.

M. A N. N. Y.. 135 Broadway.
F. A A. N. Y., Company’s Office.
New York, Office.
J. A J.IN. Y., West. Un. Tel. Co.
M. A N. New York, 1st Nat. Bk.
New York.
....

Jan. 1, 1886
Jan. 1, 1376
Nov. 1, 1906
Jas. 6, 1887
M’eh 1, 1887
, J an 1,1887
May 1, 1911
Jan. 25,1887

J. ’ Ä* J.
J. A J.
J. A J. N. Y. West. Un. Tel. Co.
,
do
do
J. A D.
N.Y., Farmers’ L.AT.CO
Q .-F .
Q.—F.
M’tlily
N. Y.. 1 Broadway.
Pittsburg.
....

1900
Jan. 1, 1887
.¿an. 1, 1904
Sept. 15, 1883
Deo. 1, 1910
1895
Feb. 1, 1886
Feb. 1, 1887
Feb. 20,1887

a" j .

....

New York.

Q __F. N.Y.Am. Exoh. Nat. Bk.
Q.—F. N. Y., Farm L. A T. Co.
Û.—F.
do
do
A. A O.
do
do
do
do

Feb. 15, 1887
Feb. 15, 1887
Aug. 15, 1892
Oct. 15, 1888
May, 1882
Feb. 15.1887
Q .-F .
Quar’ly N,Y., Post, Martin A Co. Nov. 1, 1886
do
do
....
Various.

P en nsylvan ia C oal.—Liabilities at a minimum, and quarterly
dividends of 4 per cent paid, with possible extras.
P h iladelph ia C om p an y.—The company was incorporated by
special act in Pennsylvania. March 20, 1871, as the Empire Contract
Company, and after various ohanges took the present name June 11,
1694. It has absorbed a number of different companies and controls a
large share of the natural gas production about Pittsburg and vicinity,
owning or leasing 54,000 acres of gas territory and about 350 miles of
pipes. The company began to pay dividends in Oct., 1885. and has
since then paid 1 per cent monthly. For the six months ending Sept.
30. 1886, gr ss earnings from gas and oil were $ ’ 32,374; net, $512,
251; total disbursements, including dividends, $435,114; siirylus,
$77,137. GeO. Westinghouse, Jr., President, Pittsburg.
P ostal Telegraph Ac Cable—Of the stock $7,000,000 la out­
standing, $12,000,000 is held in trust, and balance remains
in treasury. Mr. J. W. Mackey Is the President.
The name
of the Postal Telegraph Co. was changed November, 1883.
(See V. 37, p. 564). The Postal Telegraph Company sold all its
property and franchises to the Postal Telegraph A Cable Co., whloh was
organized under the laws of this State expressly for this phrpose.
(n May, 1885, receivers were appointed, and a scheme for reorganiza­
tion of the Postal Telegraph A Cable Co. was proposed, as stated iu V.
40, p. 626, 645, bv which the company will have no bonded debt and
stock for $5,000,000 only. The present bonds will take new stOok for
35 per cent of their face, and the Old stook will receive 5 per cent of its
amount in new. Foreclosure suit begun by Farmers’ Loan A Trust
Co* Vov , 1865, and sale rook place Jan. 15, 1886, for a nominal price of
$280,000. See V. 42, p. 94. (V. 42, p. 94; V. 43, p. 125.)
P u llm an Palace Car.—The stock has been Increased from time to
time to provide new capital. < s wanted, since the prioe, ruling above
v
par. gave a bonus to stockholders when subscribing for new stook.
Annual report for year ending July, 3 1, ’86, was in Chronicle, V. 43,
p. 486. Inoome account for three years was as follows:
Revenue—
1883-84.
1884-85.
1885-86.
Earnings (leased lines inoluded)....... $3,912,510 $4,946,151 $5,075,383
Patent royalties, manuf. profits, Ate..
543,947
667,477
548,129
4,456,457 5,613,628 5,623,512
Total revenue
Disbursements—
Op,er. expenses, Ac. incl. leased lines. 1,316,387 1,949,655 2,057,627
Pa d other sleeping-car associations
708,005
802,176
136,556
controlled and operated..................
162,529
66,000
264,000
Rentals of leased lines.........................
171,453
168,050
171,466
Coupon interest on bonds....................
Dividends on capital stock.................. 1,339,621 1,273,962 1,274,028
100,000
100,000
Contingency account...........................
35.733
Profit and loss.......................................
Total disbursements................ .
3,263,763 4,365,604 4,407,881
Net result.............................................. 1,192,694 1,248,024 1,155,631
—(V. 42, p. 23, 4 86.)
Q u icksilver M in in g.—Bonds paid off July, 1879. The preferred
stook is entitled to 7 p. ct. per annum, not cumulative, and any surplus
goes to the common and preferred equally. A proposition in 1885 to
retire the preferred stock with au issue of bonds was abandoned. 8ee
annual report for 1885-86 in V. 43, p. 72, showing net income for the
year of $140,394; (V. 43, p. 72.)
R a ilro ad Equipm ent Co.—This company leases equipment to
railroads on the “ Car Trust” plan, taking obligations of the railroad com­
panies running not over ten years at the utmost, whioh cover the princi­
pal aud interest of the special series of bonds issued by the Equipment
Co. running for similar periods. The title remains in the lessor till last
payment is made, and then vests in the purchasing railroad. In the
meantime the title is held in trust for bondholders and the bonds are
virtually a mortgage on the rolling stock, till paid off.
St. Lou is Bridge A T u n n el R a ilro a d .—The railroad and tunnel
were sold under the mortgage of 1873, July 1,1878. Foreclosure under
the first and second mortgages on the bridge was made Dec. 20, 1878.
On July 1, 1831, the bridge and Tunnel Railroad were leased to the Mo.
Pacific and Wabash St. Louis A Pacific for the term of their cor­
porate charters, on the terms following, viz.: Of the stook $2,490,000
first preferred, by the terms of the lease, is guaranteed 6 per Cent;
(13.000.000 second preferred is guaranteed 3 per cent per annum.
The railroad stock of $1,250,000 is guaranteed 6 per cent a year.
The wfiole annual charge for rentals is $670,000, one-half payable by
Missouri Pacific and one-half by Wabash. The common stook was held
by the London Reorganization Committee, and under the lease was
transferred to Mercantile Trust Company of N. Y. with power to vote
thereon. In the year ending Dec. 31,1885, gross earnings were $1,542**
879; fixed charges and guar, divi’ds, $373,522; surplus balance, $2,04 a
In 1886gross earni'igs, $1,5 4,212; net, $336,799; charges, $359,027,
deficit $22,2 8—oaused by 8 »uthwest strike.
sterling Iro n Ac R a ilw a y .—The property of this company, in
Orange County N. Y., (aud a few acres in Rockland) consists of 25,w
acres of land, with furnaces, Ac., having a capacity of 15,000 tons m
pig iron per year, and 7*3 miles of railroad, houses, Ao. The company
endorses the $471,674 bonds of the Sterling Mountain Railway. A. w
.
Humphreys, President, 45 Wiliiam Street, N. Y.

M arch , 1837 J

MISCELLANEOUS

STOCKS

DESCRIPTION.
Date Size, or
Par
For explanation of column headings, &c., see notes on first of
Bonds Value.
page of tables.
$100
8t. Louis Bridge A TunnelRR —Bridge stock,common.......
100
1st preferred stock, guar......................................................
100
2d preferred stock, guar......................................................
1,000
1879
1st mortgage, new, sinking fund........................................
Tunnel PR. of Bt. Lords, stock, guar. ...................... - . . .
25
Southern A Atlantic Telegraph-BXocM. (guar. 5 per cent.)..
50
Sterling Iron A Railway.—Stock ...........................................
fco.
1880 500 <
Mortgage bonds, income, series B ........................... -*-■
1,000
1876
Plain iöbotne bonds........................................................ —
10
Sutro Tunnel—Stock................................................................
Mortgage (no b o n d s ).......... - -----.................................. 1879
Tennessee Coal Iron A RR. C o—Stock
1st and 2d M. bds Tenn. Coal & RR. Co., Tracy City Div. 1879 200 &c.
1,000
1.000
Consol. mort/Tenn. Coal Iron & RR.Co.* ($1,000,000)... j 1881
1,000
So. Pitts. Div. 1st mort. T. C. I. & RR. Co . . . ............... 1882
1,000
General mort. ($500,000) Tenn. C. I. < RR. Co............... 1884
&
1,000
Pratt Coal & Iron Co., 1st mortgage, A l a ........................ 1883
1 000
slice Furnace Co.,
___
AllCfe a ____wy.T 1st bonds..- - - - - - ..................... |
1,000
Consol, mort., gold, Birmingham, Ala., Div
__
United Lines T elegra ph -S tock ..... - -- -- - -- - -- -- ................
1st mortgage (subject to old lien of $300,000)........ —
2d mortgage (for $3,600,000).............................................. 1885
100
United States Express—Stock........ --- -- - ...............................
100
Wells, Fargo A Company Express—Stock...............................
100
Western Onion Telegraph—s t o c k .......................................
1,000
Real estate bonds, gold, sinking fund........-...................... 1872
1,000
1875
Bonds, coup, or reg., sinking fund 1 per cent........
Sterling bonds, coupon (sinking fund 1 p. ct. per annum) 1875 JBlOO&o
Sutro T u n n el.—Tunnel on Comstock Lode for facilitating mining
operations. (V. 43, p. 191; V. 44, p. 91.)
T e n n . C oa l I r o n Sc R R . C o .-T h is company, organizedin 1881,
has acquired the properties of the Sewanee Mining Co., the Southern
States Coal Iron & Land Co., the Pratt Coal & Iron Co. in Alabama, and
other valuable properties consisting of coal mines, iron mines, fonndriea,
mills. Ac., Ao.« and lirfiro tracts of coal and Iron lands in Tonnessee and Alabama. See a full statement of the property in V. 44, p.
245. Enough of the consol, and Birmingham Divirion bonds are re­
served to r.-tire prior issues upon the respective pr< perries. There are
also $167,000 o f the various issues he'd in sinking funds. In Oct.. 1886,
the Nashv. Chat. & St. Louis RR. bought the twenty miles of road belong­
ing to the T. C. & I. Co., paying $500.000 6 per cent bonds for it. la
D eo, 1-86, stockholders of record on the 22d had the privilege oi sub­
scribing for $ 1,000,000 consol, gold bonds at par, ex the July, 1887.
coupon, and with a bonus of $3,000,000 in new stock, or 100 per cent
on prior h Idings. E. Eusley, President, Pratt Mines, Ala. (v. 43, p.
431, 459. 518; V. 44, p. 91, 245, 204, 235, 245.)
United Lines T elegraph .—
This oompany was formed In
August, 1885, as successor to the Bankers’ & Merchants’ Tel., sold in
foreclosure July 31,1885, subjeet to prior mort. of about $300,000. See
account of sale and list of property sold in Ch ronicle , V. 41, p. 122. In
Nov., 1886, C. P. Farrell of N. V. was aprointed receiver of the B. & M.
property in Pennsylvania, and afterward appointed for New Jersey
and Connecticut.
The Bankers’ < Merchants’ was sold in foreclosure July 31, 1885
fe
(see V. 41, p. 122), and the plan of reorganization embraced the
following points: The formation of a successor company with a capi­
tal stock of not more than $3,000,000. First mortgage by the new
company on all of the property under which not more than $1,200,000 of bonds are to be issued, with interest thereon at 6 per cent.
Second mortgage by the new company on all of the property under
whioh not more than $3,600/ 00 of bonds are to be issued; the interest
on these second mortgage bonds, however, is not to begin to run until
the 1st of January, 1887, and then for the first two years only at 3 per
cent, for the next two years at 4 per cent, and thereafter at 5 per cent.
The general mortgage bonds outstanding were to receive a new $500
bond for each $1,000 bond, being soaled one-half. The stock to receive
one new share in exchange for four old shares. (See I nvestors’ Sup­
plement of Deo., 1886, ana prior issues, for further information )
The lines have been operated under contract by the Postal Tele­
graph Co.
V. 42, p. 94, 207; V. 43, p. 66,164, 264, 387, 488, 516, 608, 693.)
United States E xpress.—No reports. (V. 42, p. 632.)
W e lls. Fargo Sc Com pany Express.—An Increase in capital to
$6,250,000 was made in 1879. No reports.
W estern U nion T elegraph.—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
of 17 ner cent to stockholders of record June 20, 1879. On Jan. 19,
1881, was dated the grand consolidation, in which the Western Union
raised its stock to $80,000,000, giving par. or $15.000,000. for the stock
and bonds of the American Union; 60 per cent for old Atlantic < Pacific
fe
stock was given in new Western Union; and a stock distribution of 38
per cent to Western Union shareholders. An injunction was obtained
against the stock distribution and litigation ensued, and the stock
dividend was finally held to be legal by the N. Y. Court of Appeals in
October, 1883.
The Mutual Union Telegraph made an opposition line, but in February,
1883, alease was agreed upon. The Western Union also leases the Amer­
ican Cable, with a guarantee of 5 per cent per annum on its stock of
$14,000,000.
In March, 1386, the company decided to pay the April dividend of 1*3
per cent in scrip, as per statement in Y. 42, p. 339, and in March, 1887,
voted to issue $1,200,000 stock to take up this scrip.
The statement for the quarter ending Mar 31, 1887 (partly estimated),
y** •* follows, compared with the actual figures for same quarter in
1886:
-Quarter ending March 31 Actual, 1886.
Est mated, 1887.
Quarter ending Mar. 31.-Net revenue................................................
Deduct—
Interest on bonds..................... $ : 23,615
19,991
Sinking fund............................
-----------

$750,816

$750,000
$123.470

143,606

20,000

143,470

Net income.................................................. $607,240
Less dividend (11* p.c. in scrip)............... $1,199.852

$606,530

Balance for quarter................................ def.$592,612

sur.$606,530




AND

ior

BONDS

Bonds—Princi­
INTEREST OR DIVIDENDS.
pal,When Due.
Amount Rate per When Where Payable and by Stocks—Last
Outstanding Cent. Payable
Dividend.
whom.
$2,500,000
3
2,490,000
3,000,000
l1
*
5,000,000
j? g1,250,000
3
2««
948,875
2,300,000
418,000
7
6
495,575
20.000,000
997,863
10.000,000
6
196.800
100, 00
6
6
578,000
6
669,000
6
110,000
7
715 000
300,000
7
4,000,000
6 g.
3,000,000
a
1,200,000
3, 4 ,5
(?)
I
7,000,000
4
6,250,000
80,000,000 1*2 scrip.
1,373,000
7 g.
4,920,000
901,044
6 g.

J.
J.
A.
J.
A.

&
&
&
&
&

J.
J.
O.
J.
0.

Feb.

N. Y., Drexel, M. < Co.
fe
0
do
do
(I)
New York and Loudon April 1, 1928
N. Y., Drexel. M. & Co. Jan. 1, 1887
April, 1887
N.Y., West. Union Tel.
New York.
London.

New York City
A. < 0.
fe
M. < N. N. Y., 4th Nat. Bank.
fe
M. & N.
do
do
Central Trust Co.
F. < A.
fe
J. & J. N. Y., 4th Nat. Bank.
M. & N. N. Y., Central Tr. Co.
A. < O. N Y.. Nat. Park Bank.
fe
J. & J. N Y., Fourth Nat. Bank.

..........

April 1, 1894
Oct. 1,1896
Jan. 1. 1891
April 1, 1894
May 1, 1894
Nov. 1, 1901
Feb. 1, 1902
May 15,1914
Nov. 1, 1903
April 1, 1902
Jan. 1, 1917

1915
1st coup, due July 1, ’87
Feb. 15, 1887
Q .-F .
New York, Omoe.
Jan. 1887
New York, Office.
J. & J.
April 15,1886
New York, Offioe.
Q .-J .
M. & N. N. Y., Union Trust Co. July 15,1902
M. < N. N. Y., Treasurer’s Office July 16,1900
&
M. < S. London, Morton, R.& Co Maroh 1,1900
fe
----- Quarter ending Maroh 31------------Actual, 1886.
Estimated, 1887.

Add nominal surplus on Dec. 31.............$1,102,180

$6.171,810

Nominal surplus Mar. 31..........................$3,509,563
$3,778,340
From the annual report published in the Chronicle , Y. 43. p.
458. the following is taken forth « fiscal years ending June 30, 1886.
The revenues, expenses and profits were as follows:
1885-86.
1883-84.
1884-85.
Revenues for the year ............$19,632,940 $17,706,834 $16,298,639
Expenses—
$1,510,658
$8,544,554
Operating and gen. expenses .. $9,278,761
1,891,347
1,822,543
1,842,690
Rentals of leased lines..............
1,273,125
1,146,871
1,350,448
Maintenance < reconstruction.
fc
499,592
301,732
301,077
Taxes...........................................
203,061
190,210
219,528
Equipment of offices and wires.
Total expenses......................$13,022,504 $12,005,910 $12,378,783
$5,700,925 $3,919.856
Profits......................
$6,610,436
Disbursements—
$3,899,573
$4,999,325
For dividends............................. $5,599,179
494,461
493,072
472,350
For interest on bonds................
39,991
39,992
For sinking funds.....................
39,991
Total disbursements........... $6,111,520
Balance of profits...............
$498,916
Surplus July 1 (begtn’g of yr.).. $3,658,553
498,916
Balance of profits for year.......

$3,934,025
$5,534,389
$166,536 def $14,169
$4,324,004
$4,t57.469
166,535 def. 14,169

Total nominal surplus June
$4,309,835
$4,324.004
30 (end of year)............... $4,157,169
The report says:
. , ,
“ Whilst the volume of traffic has continued to increase, the tables
show a material reduction in revenues, principally in the cable, gold and
stock and commercial news earnings. It will be remembered that for
one-half of the previous year the cable rates were flf ry cents per word,
with no competition; whilst during the year covered by the foregoing
statement there was active competition; and for a portion of the year
cable business was done at the twelve-eent rate, which had not been in
operation long enough before the clo^e of the year to develop the 'arge
increase in messages. Notwithstanding continued reductions in rates,
the earnings from land lines service have been well mamtained, the fall­
ing off in earnings from messages transmitted over the land lines being
less than the increase from wire rentals. * * The average rate received
for messages sent over the land lines operated by the company has been
reduced to 30»to cents per message, whilst the average cost pertain­
ing to the conduct of the business of the companv in tne transmission
and delivery of messages is reduced to a fraction under 24 cents per
message, showing a reduction in the receipts of 12,0 cents per message,
and a reduction in the' cost of handling messag s precisely the same.
Of the increase of $373,000 in expenses, as compared with the previous
year, $198,000 was in the item of taxps, $70,00 j in lin3 rentals and the
remainder almost entirely in cable repairs.”
The range in prices of stocks for a series of years has been : In 1831,
77®94; in 1882. 761
8®9338; in 1883. 71% *881 in 1884, 49®781
4;
e
in 1885, 53»«®8138; in 1886, to Oct. 23. 60is378%.
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, 1886 :
Miles of Miles of No. of
Profits.
Year. Poles&C’bl’B Wire. Offices. Messages. Receipts.
.
1865-66 . 37,380 75,686 2,250
5,879,282 6,568,925 2.624.919
46,270 85,291 2.565
186667..
6,404,595 7,004,560 2,641,710
50,183 97,594 3,219
186768..
52,099 104,584 3,607 7,934,933 7,316,918 2,748,801
186869..
7,138,737 2,227,965
9,157,646
1869- 70.. 54,109 112,191 3,972
1870- 71.. 56.032 121,151 4,606 10,646,077 7,637,448 2,532,661
8,457,095 2,790,232
1871-72.. 62.033 137,190 5,237 12,444,499
1872-73.. 65,757 154,472 5,740 14,456,832 9,333,018 2,757,962
1873-74.. 71,585 175,735 6,188 16,329,256 9,262,653 2.506.920
Q O Q 1 Krj
Q
1874-75.. 72,833 179,496 6.565 17,153,710 9,564,574
1875-76.. 73,532 183,832 7,072 18,729,567 10,034,983 3’,399^509
9,812,352 3,140,127
1876-77.. 76,955 194,323 7,500 21,158,941
1877-78.. 81,002 206,202 8,014 23,918,894 9,861,355 3,551,542
1378-79.. 82,987 211,566 8,534 25,070,106 10.960.640 4,800,440
85,645 233.534 9,077 29,215,509 12,782,894 5,833.937
187980..
327,17110,737 32,500,000 14,393,543 5,908,279
188081.-110,340
1881t
82.. 131.060 374,368 12,068 38,842,247 17,114,165 7,118,070
432,726 12,917 41,181,177 19,454,902 7,660,350
188283..144,294
1883-84.. 145,037 450.571 13,761 42.076,226 19,632,939 6,610,435
1*84-85 -. 147,500 462,283 14,184 42,096,583 17,706,833 5,700,924
1885-86 .151,332 4 9.607 15, U 2 4 3,289.807 16 298.631 3,919,855
(V. 42, p. 339, 729; V. 43, p. 309, 4 5 8 , 719; V. 44, p. 344.)

BANK, GAS, INSURANCE AND CITY RAILROAD STOCKS.

104

BANK
Companies .

STOCK

INSURANCE

LIST.

Capita l .

D ividen ds .
Surplus
at latest
Mkd. thus(-)
Latest.
are not Natl. Par Amount. dates.t Period. 1885. 1886.

Companies.

[V

ol.

XLIV.

STOCK LIST.

Capital .

Net
Surplus,

Par. Amount.

1887.*

D ividends.
1884. 1885^ 1886.

Last Paid.




9
1,640,400 J. & J.
1.719,800 M. & N.
322,200 J. & J.
1,437,400 J. & J.
265,600 J. & J.
567.000 J. A J.
194,500 J. & J.
433,000 Q —J.
4,903,300 Bi-m’ly.
328,400 J. & J.
2,049,*! 00 M. & N.
29,200
3,013,900 J. A J.
40,200
278,600 J. & J.
1,046,500 F. A A.
151,200 J. & J.
97,600 J. & J.
170,300 J. A J.
580,500
5,095,400 Q .-J .
1,169,000 J. & J.
234,400 M. A N.
1,235,900 A. A O.
138,R00 J. A J.
179,900 F. A A.
321,000 May.
3*9.000 M. A N.
62,700 M. A N.
796,900 J. A J.
37,600
3,112,500 J. A J.
207,500 J. A J.
515,200 J. A J.
1 6,200
<
15,500 J. A J.
936,900 F. A A.
427,800 J. A J.
1,360,700 J. A J.
l'»4,500 J. A J.
437,700 J. A J.
676,300 J. A J.
116,200 J. A J.
341,300 J. A J.
115,900 J. A J.
201,500 Q .-J .
122,500 M. A N.
1,413,500 J. A J.
43,800 J. A J.
104,800 F. A A.
230,100 J. A J.
6,400
280,500 J. A J.
77,700 J. A J.
305,500 J. A J.
255,200 Q .-F
1,675,900 J. A J.
160,600 J. A J.
244,500 J. A J.
154,0001.............
654.500 J. A J.
100
£01,600 J. A J.
121,400 J. A J.
83,300 J. A J.
118,600 J. A J.
253,800 J. A J
66,000 J. A J.
415,400 M. A N.
194,200 J. A J.
222,800 J. A J.
9,200
5 6 ’ ,100 Q .-J .
14 .200 J. A J.

Rate.

$
9
400,000 701,272 10
Jan., ’87. 5
10
10
8 Jan., ’87. 4
American)... 50
10
25.736 10
Jan., ’87. 4
10
200,000
8
7 Nov., ’86. 31« Amer. Exch. 100
7
278,683 12
12
12
Jan., ’87. 6
300,000
10 Jan., ’87. 6
10
Bow ery....... 25
13
12
Feb., ’87. 6
200,000 340,583 14
20 Jan., ’ 87. 8
Broadway... 25
20
Jan., ’87. 71«
15
153,000 256,686 15
15
8 Jan., ’87. 4
Brooklyn (|). 17
8
300,000 329,190 10
6-50 6 50 Jan., ’87. 31«
7 Jan., ’87. 4
Citizens’ ... t 20
6
210,000 174,118 10
9
8
Feb.,’87. 4
6 Jan., ’ 87. 3
6
City.............. 70
10
Jan., ’87. 5
14 Jan., ’87. 3
250.000
50,281 10
10
Clinton........ 100
10
500.000
21,219
100
100 100 Mar., 87.15
7 Jan., 87. 31« Continental t 100 1,000,000 1,374,856 15-40 15-40 15-40 Jan., ’87.7-7Ó
7
Oct., '86. 71«
15
300,000 660,579 15
15
15 Nov., ’86. 5
15
Eagle............ 40
Jan., ’87. 31«
87,200 16
6
6
200,000
Empire City. 100
Feb., ’87. 31«
8 Jan., ’87. 4
200,010 113,914 7
7 • 7
Exchange... 30
8
Jan., ’87. 5
10
200,000 116,338 10
10
Farragut___ 50
29,632
6H Jan., ’87. 4
200,000
8
Fire Ass’n ... 100
Jan., ’87. 4
10 Feb., ’87. 5
65,736 8
8
204,000
10
7
Firemen’s ... 17
Jan., ’87.10
8 Jan., ’87. 4
15
14
German Am . 100 1,000,000 2.344,273 14
8
Jan., ’87. 5
8 Jan., ’87. 4
10
10
G erm ania... 50 1,000,000 638,083 10
8
Jan., ’87. 5
10
6 Ja n , ’87. 3
200,000 122,073 10
10
6
Globe........... 50
Jan., ’87. 5
10
Greenwich.. 25
200.000 465,811 30
10
Jan., ’87. 3
25,716 3
40 Jan., ’»7.10
200,000
6
6
Guardian___ 100
40
Jan., ’87. 5
8 Jan., ’ 87. 4
150,000 119,483 10
10
10
10-49
Hamilton.. . 15
Jan., ’87. 5
10
7 Nov.,’86. 31« Hanover___ 50 1,000,000 540,903 10
10
7 .
Jan., ’87. 5
10 Oct., ’86. 5
10
10
Home........... 100 3,000,000 1,413,795 10
10
Jan., ’87. 3
81,393 none. none. 3
400,000
H oward....... 40
Mar., ’fc7. 5
200,010 277,382 10
6 Feb., ’87 3
10
Jefferson. ..t 30
10
6
Mav. ’84.10
Jan., ’87.10
150,000 184,015 20
20
20
Kings Co.(i) 20
Jan., *87. 3
94,004 6
210,000
6
9 Nov , ’86. 4
6
Knick’bock’ r 30
8
Jan., ’87. 4
64,755 10
150,000
6 Nov.,’86. 3
8
8
6
Lafayette (1) 50
Jan., ’87. 4
300,000
47,402110
10
7
7 Jan., ’87. 31« LonglsL(i) .t 50
7
Jan., ’87. 2
200,000 187,338 6
Man. A Build. 100
6
8
Jan., ’85. 5
14 Jan., ’87. 7
250,000
24,794110
5
14
Mech’nies’ (i) 50
Jan., ’87. 3
200,000
21,307 3
8 Jan., ’87. 4
6
6
9
Mercantile .. 50
Jan., ’87. 3
78,376 5
200,000
10 Jan., ’87. 5
9
7
Merchants’ . . 50
10
Jan., ’87. 5
200,000
38,403:10
Montauk(i).. 50
10
10
Jan., '87. 5
200,000 180,326 10
6 Jan., 87. 3
Nassau(i)_
_ 50
10
10
Jan., ’87. 4
66,263 9
[_8
8
7*8 7 Feb., ’87. 3»* National.. .. 371« 200,000
Jan., ’87. 6
8 Jan., ’87. 4
210,000 327,913 12
12
12
8
N.Y. Eq’table 35
Feb., ’87. 4
8 Jan., ’S7. 4
200,000
90,677 8
8
N.Y. Fire___ 100
8
Jan., ’87. 5
8 Jan., ’87. 51« Niagara ....... 50
500,000 489,340 10
To" To
7
Oct., ’86. 4
350,000
78,846 8
6 J a n , ’87. 3
North River. 25
6
8
6
Jan., ’87. 6
200,000 362,920 14
[12
12
7 Jan., ’ b7. 31« Pacific.......... 25
7
Jan., ’87. 5
200,000
41,150 10
6 J a n , ’87. 3
Park............. 100
10
10
3
Jan., ’87. 5
200,000
62,617 10
10
71« Jan , ’87. 4
People’s ....... 50
7
IP
Jan.,’ 87 6
150,000 214,760 12
12
6 Jan., ’87. 3
Peter Cooper 20
12
6
Jan., ’87. 5
16 Jan., ’87. 4
Phenix(i)___ 50 1,000,000 557,086 10
10
16
10
Jan., ’ 87. 5
200,000 167,242 11
10
8 Nov., ’86 4
10
8
Rutgers’ ....... 25
Jan., ’87.
10 Jan., ’87 5
200,000 145,257 7
7
7
10
Standard .. . 50
350,000
10,517 4
none. 2-50 Aug. ,’86. 21«
8 J a n , ’e7. 4
Sterling....... 100
8
J an., ’87. 5
200,000 107,671 10
10
9
6 Feb., ’87. 3
Stuyvesant.. 25
6
Jan., ’87. 6
250,000 260,293 10
10
10
7 Jan. ’87. 31« Unit’d States 25
7
300,000 310,510 10
Feb.,’87. 5
Westchester. 10
10
10
250,000 563.246 20
20
Jan., *c7.10
6 Jan., ’87. 3
20
W’msbg C. (t) 50
6
8 Ja .,’8 ’ . 4
8
* Over all liabilities, including re-insurance, oapital and scrip,
10 Jan., '87. 5
10
t Surplus includes scrip.
({) Brooklyn.
8 Feb., ’87 2
9
8 J a n , '87. 4
8
10 Jan., ’87. 5
CITY HORSE RAILROAD STOCKS AND BONDS10
6 Jan.,’87. 3
6
7 Oui.. ’86. 3
3
Dividends and interest.
6 Jan., '87. 3
6
Par. Amount.
R ailroads.
Period.
Date.
è Jan., '87. 3
8
#
5 Jan., ’87. 21«
6 Jan.,'87. 3
3
Atlantic Avenue (Brooklyn)..
50 $700.000 Q’rt’rly. 2 Jan., 1887
Jan.,'87. 5
1,000 500,000
5-7 1885 A ’94
8
8 Jan., >7. 4
Bleecker St. A Fult. F.—Stock.
100 900,000 j . A j .
Jan., 1887
8 J a n , '87. 4
8
1st mortgage.......................... 1,000 700.000 J. A J. 7 July, 1900
8
8 Nov.,’86. 4
Broadway A 7th Ave.—Stock.
100 2,100,000 Q.—J. 3 Jah., 1886
31« 6 Jan., ’87. 3
1st mortgage.......................... 1,000 1,500,000 J. A D. 5 June, 1904
6
6 Jail., '87 3
2d mortgage.......................... 1,000 500,000 J. A J. 5
1914
Broadway (Brooklyn).............
100 525,000
3 July, 1886
4 Jan., ’87, 2
1,000 250.000
7
1S89
Ï0
10 Jan , ’87. 5
1,000 100.000
6
1889
10 2,00 >,000 Q .-F . 2 Feb., 1887
t March 4, 1887, for National banks and March 12, 1887, for State Brooklyn City—Stock...............
1st mortgage.......................... 1,000 800,000 J. A J. 5 Jan., 1902
banks.
1 hi
100 l.OuO.OOO
Brooklyn City A Newtown ..
1,000 400.000
7
1890
Brooklyn Crosstown—Stock...
100 200.000 A. A O. 4 Apr., 1887
LOCAL GAS COMPANIES’ STOCKS AND BONDS1st mortgage bonds.............. 1,000 400,000 J. A J. 7
1888
Bushwick Av. (Brooklyn)—Stk
100 500,000 Q.—F. 2 Aug., 1886
The following is a list of the stocks and bonds of gas companies in
1st mortgage......................... 1,000 400,000 J. A J. 6
1902
100 600.000 Q .-J . 1% Apr., 1887
New York and Brooklyn, with details of interest, dividends, &o • Central Crosstown—Stock.......
1st mortgage........................
1,000 250,000 M. A N. 6 Nov.. 1922
Quotations for these will be found in the Com m ercial and F in an cia l
Cent. Park N. A E. Riv.—Stock
100 1,800,000 Q .-J . I V Apr.. 1887
Chronicle each week.
Consol, mortgage b on d s__ 1,000 1,200,000 J. A D. 7 Dec. 1902
Christopher A 10th St.—
Stock.
100 650,000 Q .-F . lV F e b ., 1887
Bonds .................................... 1,000 1« 0,000 A. A O. 7
1898
Dividends and interest.
100 500,000
Coney Island A Brooklyn.......
3 Aug., 1884
3d mortgage........................... 1.000
75,000 J. A J. 7
1887
Gas Companies .
Par. Amount.
Consolidated......................... 1,000 125,000 J. A J. 5
Period. 23
Date.
1903
0
D. D. E. B. A Battery—Stock..
100 1,200,000 Q .-F . 3 Feb., 1887
1st mortgage, consol............. 500 Ae 900,000 J. A D. 7 June, 1893
100 1,200,000 F. A A. 6 Feb., 1914
Brooklyn Gas-Light................
25 2,000,000 Various 5 Nov., 1886
S crip ......................................
Citizens’ Gas-Light (Brooklyn)
100 1,000,009 Q .-J . 2 Ap!., 1887
20 1,200,000 Various 3 Jan., 1887 Eighth Avenue—Stock.............
100 1,000.000 F. A A. 6
Bonds...................................
1,000 250,000 A. A O. 5
f-Tcrip......................................
1914
Consolidated Gas.....................
100 748,000 Q .-F . 2% Feb., 1887
100 35430000 J. A D. lhiD.-c., 188 > 42d A Grand St. Ferry—Stock.
Jersey City A Hoboken...........
20 756,000 Quar. 21«1
May. 1886
1st mortgage.......................... 1,000 236,000 A. A O. 7 Apr., 1893
Metropolitan Bonds................ 1,000 700,000 F. A A. 3
Grand St. A Newtown (Bk’lyn)
100 170,000
1902
21« Jan., 1886
Mutual (N .Y.)...........................
100 3,500,000 Quar. 2 Jan , 1887
1st mortgage.......................... 1,000 175.000 F. A A. 7
1896
100 250,000 Q .-F . 2 Feb., 1886
Bonds..................................... 1,000 1,50 >,000 M. A N. 3
1902
Houst. W. St. A Pav. F’y —Stk.
Nassau (Brooklyn)...................
500 500,000 J. A J. 7 July, 1894
25 1,000,000 Various 2 Jan. 1887
1st mortgage..........................
3
Scrip....................................... Yar’s. 700,000 M. A N. 21« Nov., 188k
100 800,000
People’s (Brooklyn)..................
10 1,000,000 Quar. l 1 Meli., 1887 Second Avenue—Stock...........
100 1,862,000 f. A j . 5 Jan., 1887
«
Bonds, 7 per c e n t ................ 1,000 400,000 M. A N. 3VNov\, 1886
1st mortgage......................... 1,000 400,000 M. A N. 5 Nov., 1909
Bonds, 6 per cent.................. Yar’s. 100,000 A. A O. 3 Oct., 1886
1,000 1,0*0,000 M. A N. 7 May, 1888
Consol...................................
Williamsburgh..........................
50 1,010,000 Quar. 3 Jan., 1887
100 l,50o,000 F. A A. 3 Jari, 1887
Bonds..................................... 1,000 1,000,000 A. A O. 3
1899
1st mortgage.......................... 1,000 500,000 J. A J. 7 July, 1890
Metropolitan (Brooklyn)........
100 1,000,000 J. A J. 3 Jan., 1887 Third Avenue—Stock..............
100 2,000,000 Q —F. 3 Feb., 1886
Municipal B o n d s ................... 1,0001 750.000 M. A N. 31«
1899
Bonds..................................... 1,000 2,000,000 J. A J. 7 Jan., 1890
Fulton Municipal ...................
100 3,000,000
3 Jan . 1887 Twenty-Third Street—Stook..
100 600.000 F. A A 5 Fev>„ 1887
___
SOii.OOO J. A J. 6
1.000 250,0041M. A N. 7 May. 1893
1st mortgage ......................
L894
2 Jan.. 1887
loo 2,000,1)00
Equitable.. ...................... ..
* This column shows last dividend on slocks, and date of maturity
D..11 *a
<
1 OOO'l .• 0(1.000 F A A.
\
1900
of bonds.

$
America*.. 100 3,000,000
Am. Exch. . 100 5,000,000
Bow ery. . . . 100 250,000
Broadway.. 25 1,000,000
Butch’s’ADr 25 300,000
Central....... 100 2.000.000
Chase.......... 100 300.000
Chatham___ 25 450,000
Chemical... 100 300,000
Citizens’ ___ 25 600,000
City............. 100 1,000,000
Columbia*.. ..I 200,000
Commerce.. 100 5,000,000
Commercial. ....1 300,000
Continental 100 1.000.000
Corn Exch.*. 100 1,000,000
East River . 25 250,000
11th Ward*. 25 100,000
Fifth........... 100 150.000
Fifth Ave*.. 100 100.000
First............ 100 500,000
Fourth........ 100 3,200,000
Fulton........ 30 300,000
Gallatin. . . . 50 1,000,000
Garfield___ 50 200,000
Germ’nAm.* 75 750.000
Germ’n Ex.* 100 200.000
Germania*.. 100 200,000
Greenwich*. 25 200,000
H anover.... 100 1,000,000
100,000
Imp.& Trad. 100 1,500,000
Irving........ 50 500,000
Leather Mfr. 100 600,000
L in co ln ___ 100 300.000
Madis’n 8q.* 100 200.000
Manhattan * 50 2,050,000
Market....... 100 500,000
Mechanics’ . 25 2,000,000
Mech. & Tr* 25 200,000
Mercantile.. 100 1,000,000
Merchants’ . 50 2,000,000
Merch. Ex.. 50 600,000
Metropolis *. 100 300,000
Mt. Morris*. 100 100,000
Murr’y Hill* 50 100,000
Nassau*....... 100 500,000
New Y o rk .. 100 2,000,000
N. Y. County 100 200,000
N. Y.N. E x. 100 300,000
Ninth.......... 100 750.000
100.000
N. An.erica* 70 700,000
North Riv’r* 30 240,000
Oriental*. . . 25 300,000
Pacific * ___ 50 422,700
Park........... 100 2,000,000
People’s*. . . 25 200,000
Phenlx........ 20 1,000,000
Prod. Exch.* 100 1,000,000
Republic___ 100 1.500,000
River Side*.
100,000
St. Nicholas* 100 500,000
Seaboard.. . 100 500,000
Seventh W’d 100 300,000
Second........ 1001 300,000
Shoe & L’thr 100 500,000
S ixth .......... 100 200,000
State of N.Y* 100 800,000
Third.......... 100 1,000,000
Tradesmen’s 40 1,000,000
Twelf.Ward*
100,000
U. States ... 10<) 500,000
West Side*.. 10< 200.000

March ,

RAILROAD EARNINGS.

1887. J

MONTHLY

EARNINGS

OF PRINCIPAL

109
RAILROADS.

A p ril. M ay. J u n e. J u ly .
A u g.
S ept.
O ct.
N ov.
D ec.
T o ta l.
A labam a G reat S ou th ern —
*
9
*
1888................................................(296m .)..
*
>
89,615
72,225 73,345
92,043
1884................................................(298m .)..
108,996 1,071,821
96,157
79.749
73,900 86,087
1886
...................................(296m .)..
149,070 1,165,102
97,308
68,011
70,092 77,861
1888................................................(296m .)..
115,700 1.076,186
98,839
88,345
82,664
97,756
1887
.................................. (296m .)..
128,014 1,213,686
A tchison T op ek a & S an ta Fe—
1883
...................................... (2,219 m .)..1.065,794 1,415,514
1,033,534!
1,314,913'1,281,085 1,385.710 1,452,908 1.362 983 1,549,834 1,536,274
1884
..........(2,259 to 2,340 m ). 1,173,848 1,167,02011,404,056
1,343,362 1,254,029 1,301,639 1.391,319 1 513’046 1,748,060 1,461,922
1886.......................(3,876 to 2,896 m .).. 1,115,698 1,064.748 1,346,135
1,184,080 1,818.772 1,181,784 - ---------1,676,075 1,603,413
1886...................... (2,404 to 2,437 m .).. 862,903
1'809-362 l«98i«479li;i98,178 1.853^7341
’
ÏI5Ô§Iilô
1,687,348 1,719,355
1887*................................ (2,445 m .)..11,286,167 l t «S3,070
B urlington C edar R a p . ik No.—
1883
.............(690 to 713 m .)..I 197,402 187,001 252,913' 218,252 208.672
195.989' 232,522
308,200
1884
...............(713 to 889 m .).. 213.863 201,964 217.349 217,576 221,573 216,616 195,970: 216,590 260,357 307,640
261,207 2,846,771
206,418
274.132 288,415 2.796,459
.............(938 to990m .).. 223,719 202,537 272,369 245,457' 239,385 230,451 224,381 225,824 261,16 ) 281,413
1885
313,006 266,909 8.093,514
1886 ...................... (990 to 1,006 m .).. 177,663 207,548 241,943 209,100 211,355 218,124 209,735 216,435 299,973 349,503
297,853 316,204
290,670 306,779 2,933,309
1887.................................. (1,039m .).,I 220,208 195,933
C entral I o w a 1883
............. (276 to 401 m .)..
82,593 80,387 115,615' 100,480
102,282 107,874 129,005 131,513 152,599
157,678
1884
............. (401 to 490 m .).. 113,702 99,154 114,726 122,780
117,441 1,392,587
109,751
97,212 124,231 149,950
122,196
1886.......................................(490 m.).
118,297 1,448,258
86,247 85,992
93,152
86,739 85,079 113,565 142,044 154,381 123,940
147,943
1886*..................................... (509 m.).
80,429 101,444
127.497 1,307,872
95,954
97,3211 99,052 115,095 123,978 132,963
132,450
1887*..........................................,..(509m .).,
127,845 1,323,966
110,014
98,419
C hesapeake «fe O h io 1888
..................................(502m .)..
231,970
337,795' 298,630
323,845 335,208 381,746 365,474( 375,815
345,306
1884...................................... 1503 m ).. 280,621
306,385 3,906,793
313,542 308,211
257,263 820,938 348,187 803,103 270,181
276,079
1886............................................... (609m .)..
292,910
308,912 3,538.605
268,775! 290,002
249.522 280,214 299,198 309,097 307,438
284.680 314,195 3,361,235
1886 ..........
(502 m .).. 261,169
338,154! 817,162
322,799 405,509 410,966 338,99 372,031
358,551
1887
..................................(502m .)..
316.592
340,181 4,096,048
E lizabeth . L ex . <fe B ig S a n d y 1888............................................ (139m .)..
55,498 53,045 47,540
63,433 75,83i
76,934 70,695
58,051
1884............................................ (139m .)..
45,049 57.5191 56,403 56,629 56,022
51,530
713,103
57,646 58,056
74,856
83,172 76,252
68,574
71,228
(139 m .)..
1886.....................
65,584
48,682
58,807 55,688 49,929
762,627
52,761
58,050 62,932 72,519 70,932'
68,294
1688..................................(139 m >..
63,631
57,732
74,284
706,467
65,743 63,128 67,411
95,846
91,023 95,803
90,674
89,858
188?....................................(189 m.)
*68,933
80,846
937,529
......J
C hicago «fe A lto n 1883
.................................. (849in.)..
557,384 688,694 ! 600,878
667,508 731,503 886.556 934,945 901,819 801,18.
1884 ............................................. (849m .)..
573,284 697.919! 607,281
749,220 8,810.610
668,070 730,944 859,904 916,964 889,037 753,857
1386................................................(849m .)..
537,322 680,8511 591,637
692,712 8,709,275
591,200 668,393 726,005 755,8251 767,047 733,088
1886
.................................. (849m .)..
543,137 612,647 576,634
703,926; 7,993,170
637,484 715,186 741,252 777,414 808,942
758,417
1887...................................... (849 m. m .)..
1887
.................................. (849
737,121 8,060,640
C hicago B urlin gton «fe Q u in cy 1883...................... (3,229 to 3.328 m .)..
1,611,021 2,396,584 1.824.1S0 2,009,872 1.937,918 1,824,705
, 2,909,165 2,742,480
1884
..........(3,328 to 3,467 m .)..
1,971,013 2,106,028 1,832,451 1,981,127 2,077,18211,735,199
I 9,707,110 2,683,597
1885 ..................... (3,467 to 3,648 m .).
1,601,015 2,639,110 2,085,070 2,031,901 1,993,485 1,812,834 !
, 2,640,035 2,858,258
1886 ..................... (3,648 to 4,004 m .).
1,830,275 2,223,414 1,952,740 1,981,677 3,148,532 2,330,741
2,724,588!3,776,774
1887................................... (4,004 m .)..
C hicago <fe E astern Illin o is —
1883
..............(840 to 251 m.) .
139.5831 123,769
144,143 120,693 158,061 158,226 145,021
149,908
1884
.................................. (251m .)..
140,040 1,659,257
111,048 108,547
123,577 128,392 150,514 153,874 158,377
135,100
1885
.................................. (851m .)..
132,985 1,546,115
146,726 116,068
116,812) 114,053 146,736 189,714 175,961
161,011
...(251 m .)..
1886* ...........
164,065 1,673.942
143,707 135,741
128,524' 141,250 165,968 167,306 173,993
164,761
1887*.............................................. (251m .)..
170,375 1,773,573
C hicago M ilw au k ee <fe S t. P a u l.—
1883
......... (4,520 to 4,780 m .).. 1,359,199 1,257,048 2,043,730 1.972,271 2,033,514 2,023.1811
1,829,235
.......... (4,780 to 4,804 m .).. 1,467,097 1,317,064 1,788,726 1,948,636 1,985,763 1,919,902,1,949,545 1,851,209 2,220.684 2,531,128 2,387,662 2,150,913 23,659,822
1884
,825,348 2,201,241 2,539,796 2,308,877 2,218,998 23,470,993
1885
.......... (4,804 to 4,932 m.). 1,517,397 1,345,496 2,081,071 1,927,264 1,875,231
1888
..........(4,932 to 5,131 m .).. 1,445,174 1,563,901 2,033,614 1,763,893 1,767,069 1,865,499 1,893,978 1,766,911 2,273,278 2,892,474 2,638,420 2,338,250 24.413.273
2,064,222.2,038,727 ,971,599 2,553,971 2,798,677 2,469,313 2,250,241 24,718,404
, 1887*..................... (5,201 to 5,273 m .).. 1,491,000 1,525,000
C hicago <& N orth w estern —
1883 ..................... (3,580 t o 3,761 m .).. 1,357,632 1,311,395
1884 ......................(8,781 to 3,843 m .).. 1,502,418 1,504.100 2,095,292 1,754,379 2,157,208 2,213,021 2,160,631 2,403,459 2,647,968 2,793,991 2,368,542 1,760,558 25,024,062
1,786.940 1,822,165 2,078 829 1 996,275 1,976,177 3,027,932 2,346,914 2,523,848 1,996,509
1885
................................(3,843m .)..
1,512,680 1,479,803 1,986,542 1,770,829
1,951,748 23,491,898
1888.......................(3.918 to 4,060 m .).. 1,828,10? 1,678,500 1,986,025 1,720,617 1,932,756 1,997,679 2,036,803 1,922,235 2,552,324 2,878,469 2,259,541 1,971.397 24,301,058
1,947,902 2,118,448 2,148,493 2,328,476 2,746,150 2,810,966 2,382,609
1887............................................ .(4,101m .)..
1,723,173 1,6)4,130
2,174,554 25,348,847
C hic. S t. P aul M inn. «fe O m aha—
■ 1883.......................(1,150 to 1,280 in .).. 308,465 283,601 438,521 429,339 449,584
1884...................... (1,307 to 1,318 m . ) . . ______ 331,453 463,952 567,998 513,349 442,878 444,333 495,020 523,493 673,880 583,185
350,283
442,987 5,515,285
468,514
1885
510,959
........... (1,818 to 1,325 m .).. 331,452 307,043 458,824 484,892 478,152 470,508 466,760 469,130 527,8841 042,460
444,190 5,784,932
472,523
1886
588,587
465,811 0,814,810
395,600 520,853 479,187 458,925 490,271 493,340 476,229 600,9051 699,884
_
_
1887
499,087 618,411 052,650 630,122
563,499 6,153,266
Cin. Ind. S t. L ou is Sc C h ica g o -"
...................................... (342 m .).. I 191,782 141,256 226,484 193,141 205,540 199,929 190,123
...................................... (342 m .)..' 170,318 122,686 201,150 197,822 205,195 192,438 209,515 240,517 249,886 249,507 211,264
177,395 2,482,824
198.313
203,093 2,434,780
203,444 172,544 221,186 180,999 192,175 179,276 177,087 244,117 250,988 241,145
194,678
205,706 2,373,467
195,995 199,168 228,209 193,831 191,098 193,667 213,631 208,847 219,259 220,280
1887
...... ... ........,(3 4 2 m )
236,482 245,523 247,953 208,429
240,977 2,601,533
216,168 *194.223
C incinnati N. O . <fe T e x a s P a c .- "
■ 1883...
......(336 m .).. 185,720 154,127 227.475 173,116 208,208 208,826 228,358
..
1884
241,133 239,787 260,833 234,425 234,687 2,598,195
......(336 m .).. 188,236 164,371 233,273
1885
...
......(336 m.) . 201,647 196,079 222,292 210,820 224,937 212,051 228,702 230,451 242,797 212,381
239,030 2,638,185
194,008 187,247 206,386 222,929 238,185 241.225 257,103 231,136
1886
.............
252,670
(836
261,710
199,715
1 1887................. .................. .(336m .).. 263,194 206,293 243,870 201,917 195,034 238,067 259,751 250,960 256,310 289,920 272,584 271.105 2,681,547
m .).
2,883,172
252,848
Clev. C ol. C in. «fe In d .—
'
,¡5? ...............................................'SOI m )
311,583 315,789 873,384 304,401 340,085 359,273 361,878 447,04«
424,719 391,980 874,045
1884.....................- ...............(391 m.)
277,759 302,995 316,147
337,842 4,342,803
302,200
1885.
.............. (891 m ).. 237,001 230,015 290,145 294,113 204.032 300,649 809,078 344,432 339,927 372,967 820,301
329,125 3,811,743
257,235
294,490 287,984 341,161 860,309 302,084 329,395
188«.
.(891 m.) . 235,733 292,520'
345,688 3,669,439
1887.
— (391 m .).. *281,347 *205,755 314.322 281,588 309,324 335,741 348,131 408,538 442,956 408,033 374,124
382,453 4,184,118
Denver <fe ttio G ran de
}§§?•................... (1,315 to 1,879 m.).
463,762 457,535 548,580 598,531
678,781
___
.................................. (1,317 m .).. 430Ì302 317.586 390,878 480,101 826,018 h520,477 709,825_ 699,603 603,609 720,445 635,853
557,939 7,801,540
494,230
1885#.
1,317 m .).. 405,341 395,308 491,463 449,059 405,320 525,341 433,119 470,358 521,957 507,285 462,459
421,359 5,552,104
........... ..................... (1,317 m .).: 404,903 427,747 497,183 484,054 510,068 555,386 551.003 503,734 588,694 020,863 572,983
501,179 6,119,054
610,082 014,039 046,034 703,360 648,907 635,215 6,788,078
545,650 *540,940
S*M Tenn! T a .’ àfc Gal— ’ 1 m') '
........................ (902 to 1,098 m .).
323,241 312,522 339,151 272,332 283,157 304,897 311,784 362,584
374,943 4,144,275
317.98» 320,392 331,109 291,519 295,401 307,810 278,037 312,733 391,434 455,593 409,605
llæ .................................(1.098 m.) . 427,885 311,894 324,400 276,098 276,871 274,476 298.824 339,219 389,311 412,239 880,180 370,803 3,993,022
H P
„ 379,424 411,330
400,781
..(1,093 m .).. 324,032 341,888 344,023 277,370 284,153
408,554 4,120,436
1887.............;;
320,398] 331,040] 364i8U 394,380 458,017
421,372
420,619 4,283,212
422,487 *393,682
I
i^«r® Marquette—098 m'; ‘
........ ................. (347 to 361 m .).. 190,179 164,954 233,306 237,517 229,014
208.322! 184,4271 203,805 201,863 257,779 234,017
186,792 189,589 218,759 217,060 223,296
199,685 c2.542.943
i l » : : : : ; : : : ........................
172,853
158,315
143,850 129,572 158,108 168,812 174,046 179,343 151,702 174,328 172,199 188,00?
171,844 2,252,988
181,100!
155,097
177,698
177,591 1,946,790
152,094 157,819 201,677 203,101 190,541 *108,080 *178,594 *107,198 107,754 180,860
1887*........... ....................... J2?.1
*178,428 *185,607 *175,095 *191,305 2,149,629
171.395 173,500
C o,oraJo <& Santa ^ e - ’

iii:.\'::::'::::::::::::(^ 3t0^lɓ >
-I IV ^ e n i .- l l i ; L in f& S o ^ p iv ^ i'
ìg f

• •• • •
• • '• (1,528 to ì ’,608 S i : :

11® :;:;:;::::::.:::a'06ò'toì;9Ì Si::
:
U n « in Io W a -’953“ ) "

i l » . .......... ....................
1887 :::::::..................... (403 m .).,
In1^
‘ BV«où»|‘ ik W èstern—1 1 ' '
1^
[ 1884*/;:::;;........................... “ K1
-*
ì 1885*/... ......................... (532 m .)..
............................................
I 1886*/......
1887*/................................. © f^ m .)..

I°æ svil,e * ‘ Nashv'flie3

J"

173,034 150,186
138,414 124,959
92,297 85,70»
154.223 135,788
189,081 180,183

148,406
121,678
93,634
140,909

132,203
120,285
85,136
100,007

979,717
828,572
915,957
782,749
959,948

847,439
813,099
808,715
857,753
4
»790,481

931,933
844,609
974,800
820,810

099,370 748,803 762,403 772,792
782,830 788,809 727,059 704,233 933,022
837,443
789,766 822,385 764,607 723,007 840,891
094,799 774,146 793,075 845,538 943,910

131,942 126,824
131,512 131,642
103,603 102,143
85,480 129,779
113,360 *
»103,792

204,934
142,159
154,082
157,774,
....... I

156,987 153,558 106,305
130,703 134,333 130,640
127,329 125,773 130,788
123,200 134,191 142,095]

154.678
127,718
134,110]
123,655

215,913 234,151
108,111 173,085
169,892 160,608
174,483 180,686

217.0181
173,188
107,665
218,240

243,142
164,877
169,772
178,702
202,600

202.931 268.801
188.932 193,222
166,290 227,088
196,256 203,877
182,630

151,730
133,637,
118,103
153,1011

144,007
123,504
120,428
*101,358]

217,5741
173,071
167,544
190,934

103,4521 184,958 212,507 241,771
126,432, 131,052 185,271 211,001
139,430 150,933 211,163 804,773
*19l|933 *178,703 *218,992 *261,694

228,715
160,053
243,034
*292,031

187,014
142,048
200,732
*234,689

2, 110:041
1,727,595
1,849,429
2,288,028

1,183,4681
1,078,544
1,112,719
1,138,385

1,119,010
1,099,074
1,039,390
1,038,590

1,021,574
1,059,505
1,126,460
1,112,721

11,039,633
10,473,442
10,943.923
10,773,187

180,472
129,480
_
_ J
120,349
157,603

201,906 210,842
108,026 184,807
107,288 178,708
190,033 203,893

201,930
152,109
107,419
155,590

158,754
150,541
160,681
149,353

2,025,109
1,712,339
P678,338
1,753,306

319,713
228 851
242,800
257,522

292,965
245,220
242,461
253,363

270,941
224,5001
227,110
245,346

235,972
185,046
207,897
227 339

202,812 2,927,533
107,943 c2.302.023
234,259 c2,412,678
209,973 2,542,811

1,504,405
1,291,714
1,263,469
1,383,753

1,307,394
1,199,596
1,129,894
1,281,907

1,272,924 14,169,237
1,292,127 13.602,447
1,164,212 13,672,044
1,278,905 13,998,290

139,133
126,245
133,795
160,909

154,207
142,185
150,961
175,403

150,749 21,299T4^5
174,034 1,428,682
158,933 i l ,339,849
177,797 1,444,038

1,043,902
913,035
934,229
970,102

i isgi* **.................(2,028 to 2,065 m .)..
1,014,807 1,140.346 947,450
1885
............................................................(2,005 m1,187,738 1,125,291 1,062,348 1,090,700 1,124,770 1,251,127 1,334,179
. .
1,015,413 .)..
1886 **........ •*•••(2,005 to2,0i3 m .).. 1,170,749 1,082,175 1.280,523 1,158,699 1,156,109 1,032,359 1,080,104 1,117,313 1,145,366
1,101,403 1,038,578
1887
.....*............... (2,028 m .).. 1.050,088 1,050,103 1,104,950 909,377 1,038,894 1,121,192 1,057,332 1,078,796 1,148,214
1,259,774 1,200,567 1,258,192
"¿C harleston—
2,023 “ J ' * 1,228,093 1,105.090
I .............................................
m .).. 113,344 103,000 101,820 80,766 86,388
78,534 88,039 101,993 101,382
1885......................................
m .).. 111,010 112,881 111,9251
1888
........ *............. (330 m .).. 141,366 101,147 109,252 100,557 101,023 117,705 105,471 114,663 110,334
98,994
78.844
83.810 95,824 105,195
18ffr......................................
m .).. 115,167 106,231 115,171 96,287 77,297 81,721
84,853
95,403 119,375 120,680
.(330 m .).. 156,246! *124,991

* Approximate figures.
f

, Includine 'nri

------—
«.»««.J •t*Wbhd been published.
t Und..D V
i0oa , :6r 8ary! iter month,y QuuB.oaQ Deen published.
Spring/. g Not Uolading Utah lines. I» Including |135,006;trafflo.'balanoes




INVESTORS’

110

[V ol. X L iv.

SUPPLEMENT.

MONTHLY EARNINGS OF PRINCIPAL RAILROADS-(Coaclndecl).
Jn n .
M ilw a u k e e L a k e 8 . de W egt.
■888 ....................... (886 to 874 m .)..
1884. .............................(385 to 480 m .)..
1885 - ..... ....................... i486 to 551 m .j..

01,928
73,214
74,209
97,079
1886. ...............................(551 to 578m-> •
•
...........................................
m.)-.. *142,885
M in n ea p olis Sc S t. L e a l* •
83,459
1888....................................... ji S S 'P
133,428
122,502
73,095
1886 -.......................................... (861 m .)..
1 8 8 7 :::::;:........................... (3M*m->- 117,845

F eb^ March. April. M ay.
%_
$
»
93,297
90,037
03,435 79,851
78308 100,357 97,888 95,634
100,771 111,570 98,438
72,179
199,032
100,532 149,138 160,850
*158.654
107,548 109,151 135,80b 147,429
90,491 144,018 151,301 153,94~
113,102 104,213 151,255 161,000
120392 142,712 110,519 121,864

Oct.
Sept.
An«.
8
S
f
»
I
88,289 100,585 98,249 112,524
91,047
99,208 103.837
90,683 90,898 90,031
108.486 110,272 134,221 148,605 160.284
230,132 248,444 251,450 248,140 254,976

Nov.

Dec.

$
103.943
95,215
132,994
204,799

$
75,529
87.588
107.248
167,224

1.
1,
1.
2,

159,310
100,192
172.410
150,911

170,053
149,527
171,556
161,854

149,802
145,381
130,488
149.184

1.
1
1
.1

Jnne.

July.

i

142,298 118,806 124,850
161,010 150,004 138,004
138,883 131,331 132,270
118,788 118,804 120,882

137,027
160,118
135.55’
154,025

Tc

199 :
•
:
-CDrf :
age«

289,246 2
280,062
134,464 156,584 185,902 256,271
184,845 120.10+ 141,976 123.
253,832 284,637 2
1883...... ............... .............. (528 m .).. 210,212 108,245 185,275 107,790 142,774 140,030 129,323 143,000 160,669 212,459
179,228 161,283
108.785 109,892 123.330 158,045 223,596 235,246 278,839 2
122,653
201,081 104.494 190,950 128.428 135,820 118,909 155,029 147,935 151,941 221,657
266,8611 3O0,6$6 2
io ok
......................(f>28 m .)..
103,507 145.831 141,079 128,008
1886**................. .,..(528 to 087 m .).. 230,015 200,499
............... (667 m .j..
209,999 2
197.799 201,320 205,660
N aah vllle C h att. Sc S t. L ou ie—
195,202 200,104 101,435 171,079 170,001 195,408 216.658
197.512 2
196,001
1888............. ........ ................ (550 m .).. 197,388 210.495 200,819 188,10' 190,751 101,95* 187,475 218,190 210,580 203,787
181,488
193,327 2
................(580. m .).. 180.992 174.919 180,737 165,381 107,495 147,700 105,607 182,116 192,865 191,846
213,769 229,946 2
.............................................(580 m .).. 184,980
172,330 178,139 215,250 224,48 223,311 213,200
186,519 184.052 187,350 172,81*
1880
................ (680 to WO m .)..
242,094 249,461
i s s ? :::::::::::::................... *000® .)
2.613,134 2,411,140 2.180,982 1,828,508.2S
N ew Y o rk L a k e K rle Sc W e st,— 1,524.809 1,283,616 1,690,909 1,548,474 2,055,988
2,104,375 1,807,857 1,703,338 1,570,385 20
ISM t ...................(1.060 to 1,620 m .)..
1,507,211 1490,394 1,495,541 1,727,484 1,015,304
1,980,048 1,912,520 1,872,887 It
1,481,014
1,315,443 i:37i:024 1,508,523 1,469,012 1,951,877
2,234,859 2.048,512 1,085,149 25
1885-/.................. ............. (1,022 m .j. 1.531.004 1,551,480 1,793,221 1,741,35'
1886/................. ............; 1,622 m .j.. 1.705,070
305,877 310,092 215,422
391,825
N ew Y o rk Sc N ew E n g la n d 245,081 237,711 296,311 276,891 803,035 300,690 820,151 300,794
254,420 239,050
300,734
.............................................
811.016
243,047 252.003 259,471 275,507 273,702 283,531 276,217 827.248
309,743
339.965
271,057 295,907
820,786
230,420 220,096 263,934 202,102 260,305 314,310 345,493 379,544
381,180 347.703
................. (384 m .).
1885....................
200,934 270,924 320,832 314,504 303,314
298,771
1887.......... .........
73,881 1,003,661
86,782
94,042
N ew Y o rk Suna "Sc W e s t .-,
87,0541 88,152 89,189 103,057!
78,511
00,097 70,974
87,686 1,034,210
08,107
97,270
............. (144 m .).
99,059
97,017 105,828
80,781 82,970
04,140 71,704 82,278
86,405 1,092,854
97,344
04.055
105,087
m.).
1884
....... .................(144 m .).
85,2941 90,222 100,690 101,353
90,381
91,093
68,505
112,546 1,129,440
70,005
107,735
109,808
1885
....... .................<144
87,204 84,057 97,841 94,846
89,170 87,316
74.882
81,060
........... (144 m .).
84,590 98,341
1 8 8 7 ........• •■ ................(144 m .)..
271,177 232,854 2,812,775
331,210
261,711
N orfolk Sc W est.
HH .
200,487 191,344 217,834 190,990 205,063 203,010 219,188 228,408
244,810 247,103 2,711,152
D 288,495
iqoq
. ................. (428 to DOs m .) .
249.428 2,771,121
213,020 225,357 210,298 211,522 202,436 183,809 185,824 250,190
270,630
285,981
l& S ............ ..
..........................(502 m .)..
191,707
267,337 3,252,058
220,255 lw0,28l 220,416 200,484 192,827 228.128 210,470 287,40*
337,708
5 334,711
1885.........
............................(502 m .)..
250,280
218,907 221,789 277,807 207,559 235,701
1880.’. ; .............................(502 t o 525m .)..
279,305 *270,592
. 1887................................ ........ ,. ,(52o m .) ..
442,269 5,521,878
474,805
510,42' 476,81 1 519,79c
N orthern C entral—
.
507.090 5,490,922
409,840 398,018 402,504 454,749 477,848 410,635 477,510 451,870
483,591
4 534,011
1884
..............................
404.210 389,049 483,300 450,010 454,017 410,219 411,723 502,027
457,800 5,474,016
493,150
4 516,82
449,401
1885 ..............................................(328 i ' .) 460,147 411,397 447,230 432,530
18S0 ..............................................j l l S S nV .. 400,123 430,96
1887................................... (388 m.).. 514,947
850,184
4 1,397,22 1,276,02V
N orthern P acific—
060,412 789,940 829,657 850,223 1,048,024
758,229
0 1,401,51 1,U6,3~S
1888
............ (1,535 to 2,305 m .) •• 358,985 328,158 563,00: 1,441,514 1,287,805 1,143,123 1,022,438 1,032,002
775,371
014,1Of m .) ..
5 1,522,28 1,249,35c
1884
................................................(2.449 to 2,453520,085 978,950 877,605 901,100 1012,507 1,000,011 971,289
091,612
899,605
553,682 509,904 2,091 m .)..
3 1,443,00 7 1,299,90«
1885
........................................................................(2,453 t o
993,484 «83,731 1 077,350 1,100,020 1,226,358
480,330 594,240 808,110
tgS» "
............ (2,741 t o 2,892m .j.
571,421 *514,560
¡8 8 ? '. .................................... (3,893 m .)..
4,250,150
Ohio '& M ississippi—
310,882 319,379 307.119 300,690 470,443
283,070 3,702.959
1 354,886 270,03
2
353,709
302,146 231,023 386,872 306,470 812,750 257,135 282,202 334,313
312,904 3,079,615
. .......................... (616 m .).
I8g4.........
9 365,603 801,96
281,799
300,801 207,879 341,501 288,004 275,480 264,201 335,431 378,100
325,65 1 196,018 3,827,832
1 367,747
1
1885
(010m .).
274,180 274,480 305,759 270,198 298,035 803.119
1888
......................................(0.16 m .).
295,219
1 8 8 7 : : : : : . . . . .............................. ( 0 ie m .).
P enn sylvania— _
. „ , ,
38 4,875,31 4,473,479 3,840,510 51,083,244
(A ll lin es east o f PJttfJm r« & B r ie )—
4,061,750 4,303,000 4,150,871 1,130.950 4,775,380 4,634,998 4,417,548 3,950.937 3.769.S28 48,560,911
7
71
-iVi83
...........(+1.981 t o 8,030 m .) .. 3,929,35' 3,712,215 4,189,380 4.150,309 4,207,178 3.900,174 8,989,085 4,017,891
45,015,027
88 4,359,17 4 3,971,539 4.046,082 50,379,068
l e S i :: : : : : . ............(+2.000 t o 2,202 ® , j . 3,574,283 8,420,783 4,002,627 3,704,890 3,890,409 3.735.038 8,685,105 3,950,306
32 4,737,35 1 4,347,21 8 4,428,216
1885
...............(+2,208 t o 2,260 m .) . 3,277,522 3,075,700 8,085,874 3,802,017 4,178,580 4,330,101 4.350,077 4,585,390
3,421,630 3,519,475 3,901,85:: .j,
18 8 6
................................................ .....................(t8,850 to 2,322 m
j g § x ....................... : ............. (+2,322 m .j. 3,851,771
61,105 721,255
61,835
78,884 73,659 00,845
P e o ria D eca tu r Sc E v au syiW e48,297 47,549
58,081
69,710 08,175
57.055 759,767
57,139
49,622 47,993
81,262 74,096 69,522
54,783
51,881
59,188
62,550
69,742
62,343 780.985
64,262
04,590 57,854
07,919
81,015 79,157
47,9451 53,799
50,500
53,43b
59,701
55,582
77.055 814.747
01,275
04,130
1B§5....... : ......................................(264 m .j.
90,778 90,481 80,693
73,343
56,623 56,921
57,248 51.207
00,487
54,921
a a * ,;;;;
............................<204 m .j.
02,672
71,069
1887*
. . . . ................................ (264m .)2,297,648 30,300,199
3,538,033 3,333,2171
3,531,436 3,054,910
P h ila d elp h ia Sc Iteadin a:,(840 to 1,583 m.). 1,608,77: 1,458,802, 1.069,241 1,720.010 8,827’942^2’?43'764i8:70^:W2i3:299:öi5!2:87H|45l!2;94O;54 2,554,133 2,815,563 30,972.161
18838.
2,606,450 2 502,529 29,230,543
...........(1,588 m .). 2,190,801 2,002,342 2,188.144 2,855,073 2*877'42412'428'2041
2,041,852|2,940,7501
18848:
1,704,045 1.919,502'2.343,978 2;409:440 2J532^04)2,763,266j2,808,269 2.800,388j2,8 <8,370j 3,001,522 3 576 714 29,511,589
................... (1,588 m.). 1.846.300
2,029,616:3,Oil,-482
18858.
.........(1,583to 8.10 m .).. 2.055.58t 1,919,242 2,290,118 2,177,072
18805.
.......... ..........(846 m .).. ,670,821
1887...
3,845,152
R ich m on d & D a n v ille 272,282 317,594 362,292 429,834 363,704 334,640 8.873,724
366,710
.......
.. • .. (707 m .).. 259,75 329,248 352,414 207,409 297,287 258,091 250,923 293,147 337,887 429,179 371.276
1aoQ
348,132 3,971.629
206,889 333,755 350,129 317,181 299,3291 251,819 272,277 3.22,961 381,172 425,510 365,998
1884 ■ ; ..............(757to774 m .)..
4,060,225
300,563 301,097 292,077 266,294
I I » :::::.:::................... <?&£+• 325,053 800,890 392,514 320,797 281, 11* 209,834 280,598 331,088 365.397 425,721 421,974 340,148
278,527 340,513
H«
:
:
*
" ( 774 m o.: 328,629 *309,000
77,913 828,900
82,021
98,205
71,411
c h ^ io t t e c o i. & a T
Ä
bi
44,094! 46,785 58,780
47,901
84,043 52.954
83,096' 775,527
70,018 94,109
84,558
96,753
04,276
88,299; 40,879 48,070
48,241
08,282 54,810
76,349 808,100
74,929
05,370 82,931
95,4**
80,080
18M .7:::.................. (337 to 373 a J .
42,745! 45,982 56,259
783,444
52,82fi
40,286
75,078
81,093
67,804
80.494
85,161
91,972
61,8b0
1885 ...... .................
(378m o..
51,573
49,240
44,489
47,877
63,80r
63,508 84,012 82,16(1
1S 8
. . ................. (873 m .j.
63,576 *75,900
i p ? : : : : : : . , . . . ......... v ..<w*
787,896
65,5’
70,158
64,840 86,24'
49,205
31,755 35.023
43,092 37,306
83;397 688,321
95,591 88,021
71,0'
88,162
08,01«
51,130
C lE “
*.
m .)..
28,148 30,880) 31,879
71,928 59,70* 45,728 36,637
75,734 695,550
70,919
50,640
63,400 88,73'
41,327
80,974) 31,682
35,017
iw * ::::............................ jw & s >
09,020 39,481
54,893 610,594
72.343 70,311
68,050
37,547 41,846 73,410
28,219
53,7141 80,017 78,527 41,0031 29,8161 24,052
44,383 *09,700
188? ::.".:..................................... ( » » m o..
118,443 1.686,193
147,046
175,800 185,205 170.167
V irn in ia M id la n d -.......
■ )
m
115,614 1,590,098
104,388 113,823 123,580 125,825 187,766 131,313 146,777 149,890 170,20« 107,595
122,715
128,433 181,800
123:276 i:553,509
107,115'; 109,590 119,803
130,501
132,681 144,753! 173,356 152,939
118,993
130,513 1,500,557
m : : : ::.v.............. • • • • feär 100,004; 97,905 121,135 125,190
137,087
171,266 164,614
121,908 125,521 155,028
93,832 99,588 121.418 126,327)
S R * * ;.* * * .....................(355 m.) v. 117,7191 *97,000
8,07
38,784 32 3
86,138
44,000
W estern N orth C a r ^ in a 30,553 44,957 46,241
20,167 21,700 ' 27,523 23,261
37,246 435,726
20.090 27,557
38,639
41,513
42,879
1883
...................(190 to 200 m .)..
7,90
9
29,029 85,719 48,794
30.575 4739
35,088 31,054 38,834 82.124
29,212
44,399
46,771
i S ? '....... ; v ........... (200 to 874m .j..
47,866
46,821
554
3,
35,102 38,833
30,437
37,273
42,106
33,805 33,010 87,972
48,277
?£§£’
.... ....... . ....... (874 m .)..
49,189 00,366 52,75*
32,713 44,028 43,068
40,683
34,189 42,308 45,600
ISMt...... ................. (274to 290 m .)..
40,049 *40,300
{ S } : : ; : : : . ...............
.1290 m .)..
1.484,069
136,2*9 E ss«»
142,427 141,793 141,408 131,522
S t. L . A lt. Sc T . H . M ain L in e—
90,953
95,168
132,093 128,700 133,093 102,270 101,7311 81,725 101,758 120,405 113,230 137,258
104,557
90,095
.29 3
112,930 c l1 0, 1
114,443 182,157 125,129 104,912 104,847! 87,656 87,438 120,170 128,389 131,564
114,861
6.77
0
99,790 113,951 95,745) 78,9311
108,317 , 27 3
97,207
111,074
1806(196 m .j..
98,298) 94,110 103,004 113,75*! 120,347 128,059
89,200 89,693) 89,055 78,510
laafti.......... .......................... (195 m .)..
99,012 110,8101
1 ^ * ::;;:::................................... (196m o-.
74.108 832,468
74,961
82,040
71,714! 80,732
55,560
S t. L . A lton Sc T . it . B ra n ch e e 00,914! 57,048
58,970
01,453 741,150
00,854
71,892 03,500 80,951
75,509
76 1
01
55,410; 44.801 44,596 58,267 62,191
1883........................... C101 t0n § S S t '
72,284 ¡¡80*9
05,525! 00,878 74,227 71,434
69,735
80,377
60,007; 75,809
0,8 0
3
52,817
47,790
87,230
78,594
1Q K
O
........... . . . .(IeK H •• 58,262 73,038 08,058 55,099 51,508) 47,534 02,859 02,893) 70,900 88,838
> I*/
51,910,
59,040 60,989 57,979 41,004
1 6 8 6 ^ ::::::::::........... <
I38to,(] o& D3.*/*.! 73,024 64,953
}”
..................
„ l a
395,402 403,640 4643,50«
S t. L o u is & San F r a n c is c o 282,006 270,101 376,390 383,082 370,160
390,957: $52,017 4383,408
1883
......................(725 Mi 742 m .).. 280,990 229,411 353,884 262,217 289,156) 365,873 359,111 433,428 462,943 512,758
372,542
400,824
1S 4 .......
............ ( 7 7 0 815 m .).. 313,759 322,805 427,538 339,003 850,809. 339,377. 315,924 368,445 394,803 477,804
828,007
472,002
302,780 300,822 307,868 352,493
473,021
407,89* 455,785 488,548 583,527
382,607 302,005 385,70* 331,891 364,186 802,447i
laaTii’ . ................ (815 t o m m.) •
•
380,480 397,035
1887*"".................... (877 to 930 in.) ■
.
632,148 754,473 941,266 847,003 700,382 8.3l4:ig
S t. P a n ! M inn. Sc ¡S a u ito b a .728,207 714,069 023.7S
819,439
879,440
1883 ....................(Im b to 1,324 m.) •• 493,148 398,6141 740,113 815,945 041,107 712,165 005*150 571,702) 738,587 1,014,862
680,850
859,007
452,570 407,440 702,041 789,562
1884 .....................(1,327to 1,471 m .)..
550,38* 525,009 747,578 1,004,789
895,217 576,011 712,408 489,542 511,6151«570.064 *626,917 *823,397 *945,998 *805,002 *687.030
1883......... . ..........
, .(1,476m .).. 402,125
*471,062:
1880
.......... . (1,475 to 1,033 m .).. 405,530 414,810 60),910 *611,700 *429,705
18OT*"" ... ..........(1,633 to 1,350 m .).. 459,250 434,809
2,625,889 2,322393
C jO on P ttciflc^ (3 942 1-23Ö m.).. 1,910,8541,073,224. 3,391,758 2,363,277 2,351,013
2,414,238 2.819,586
2,429,279 2,348.487 Ifl.aoib9
ISM* ' , ..............(4,250 to 4,470 m.) .- 1,533 094 1,540,754 1,905,497 2,116,520 2,099,898
1
1.674,949 V
,503,949 1,975,517 1.987,191 2,067.520
2,351,431 2,343.543
1885
...........(4,476 to 4,519m .)..
,635,141 1,954,208 2,113,440 2,211,448
1883......,
(4,519to4,594m .). 1,428,029 •
.(4.59* m.l. 1.7S7.8581
* 1887.
jm J u n e 1. 1883. to S o y . 80,1886 ; th e earnings o f J(he » 1 « i
* <Vim
rt>¥im p ^ flgnrft*.
+ And 66 miles o f ©anal«
Central
.
r monthly totals had been published.
mnnthiT
f. Includes gJnce July 1
o T O r o m an d M

irahtdes St. Louis X Cairo.
*




X W ? * 10*

A f t m 'd e f f i n / f 4 4 4 , 8 8 0 charged o ff by M r. A d a m , on assum ing office.

INDEX,

M a r c h , 16¿7.J

INDEX

TO NAMES

OF

111
RAILROADS.

With the numerous changes which are constantly taking place in the titles of various railroad companies by reason of
foreclosures, consolidations, &c., it frequently occurs that much difficulty may be experienced in looking up the name of a
former company in the tables of the Scpplbmbnt. To obviate this difficulty, and to facilitate reference to any name whether
new or old, the following index has been prepared:
y
’
n*r
FORMER NAME.

W IL L NOW BE FOUND UNDER-

Alabama Central.............................. East Tenn. Virginia A Georgia.
Allegany Central.............................. Lackawanna & Pittsburg.
American Look A Ijnprovem't Co.. .Central of New Jersey.
Androscoggin & Keimebeo.............. Maine Central.
Atchison A Nebraska........................ Chicago Burlington & Quincy.
Atchison & Pike's Peak.....................Uuion Pacific, Central Branch.
Atlantic A Great Western................ New York Pennsylvania & Ohio.
Atlantic & G ulf................................. Savannah Florida & Western.
Atlantic Mississippi & Ohio............. Norfolk & Western.
Augusta & Knoxville...................... Port Royal & Augusta.
Baltimore Short-Line........................Cincinnati Wash. A Baltimore.
Bay City & Saginaw......................... Flint & Pere Marquette.
BellefOntaine A Indiana...... ............ Cleve. Columbus Cin. & Iud.
Belleville ACarondelet.....................St. Louis Alton & Terre Haute.
Beloit & Madison............................... Chicago A Northwest.
Black River & Morristown...............Utica & Black River.
Boston Clin. Fitch. & New Bed.......Old Colony.
Boston Hartford A E rie................... New York & NewEngland.
Brunswick & Albany.........................Bnmswlek & Western.
Buffalo & Erie.................................... Lake Shore & Michigan Southern.
Buffalo Pittsburg & Western........... Buffalo New York A Philadelphia
Burlington A Missouri...................... Chicago Burlington & Quinoy.
Cairo Arkansas & Texas................................. MissouriPacific.
Cairo & Fulton................................... Missouri Pacific.
California* Oregon.......................... Central Paciflo.
California Southern................................ Atobison Topeka & SantaFe.
Camden & Amboy............................. United New Jersey.
Canada Central................................. Canadian Pacific.
Cape May & Millville........................West Jersey.
Cedar Kapids & Clinton................... Burlington Cedar Rapids & N.
Cedar Rapids Iowa Falls & N. W— Burlington Cedar Rapids & N.
Cedar Rapids & Missouri River.......Chicago A Northwestern.
Central Vermont................................Consolidated Vermont.
Charleston & Savannah...................Savannah & Charleston
Chicago Clinton Dubuqe & Minn___C. M. & St. Paul.
Chicago Decorah & Minn..................Burlington Cedar Rapids A N.
Chicago & Great Eastern................. Chioago Sc. Louis & Pittsburg
Chicago & Illinois River................... Chicago & Alton.
Chicago Iowa & Nebraska................Chicago & Northwestern.
Chicago & Michigan Lake Shore. . . .Chicago A West Michigan
Chicago & Milwaukee........................Chioago & Northwest.
Chicago & Ohio River...................... Chioago & Noithwestern.
Chicago St. Louis & New Orleans.. . Illinois Central.
SM®- 8t- fau l & Minn........................Ohio. St. Paul Minn. & Omaha.
rnuCas° £ Southwestern...................Chicago Rock Island & Pacific.
Chicago & Springfield........................Illinois Central.
r w i í ^ í ! £ Ra“ iluore.................... Cincinnati Wash. & Baltimore.
PiSnlíííftH
Y Ai •
..............9,™' Indianapolis St. Louis & Chio.
ri
™afiS U & ChlcaS°.......phi. Indianapolis St. Louis & Chic.
Clayton & Theresa.. .. ................... Utica & Black River.
Cleveland Mt. Vernon & Delaware..Cleveland Akron & Columbus
piavaI^Ìh V i™ 8! 1116& A8htabula..Lake Shore & Michigan Southern.
Cleveland & Toledo........................... Lake Shore & Michigan Southern
rnW 'TiLvim iifrSo' --g---:- - :......Charlotte Columbia & Augusta.
Col. Chioago & Indiana Central...... Chicago St. Louis & Pittshnrg
Columbus A Indiana Central...........Chicago St. Louis A Pittsburg"

FORMER NAME.

WILL NOW BE FOUND UNDER_

indiftnnnnuf j?n i &1
Lafay ette ....... Cin. Indianapolis St. Louis & Ghio.
t1
?^!0? 8^ } , 8 ^ Cincinnati............... Cin. Indianapolis St. Louis & Ghio.
1 1
Indianapolis & Madison................... Jeffersonville Madison A Ind.
International < Great Northern — Missouri Kansas & Texas.
fe
Ionia A; Lansing .............................Detroit Lansing & Northern.
Iowa A^akotLe8tePn........................Burlington Cedar Rapids & North*«*
Iowa
................................... Chioago Milwaukee A St. Paul.
Iowa & MÌQD680tft........................... .CllioaSTO MilWälllr^A A
t
Paul
Iowa South. «fc Missouri N orth... Hhioairo Kook Island < Paoitiu.
fe
Jackson Lansing & Saginaw..........Michigan Central.
James River Vaifey. ...................... Northern Pacific.

S S ^ ^ 8 5 S S A S - .^ ;::iS S £ & Î S ia te a t e
Kalamazoo & South Haven..............MIokS K f i *
*
“ ^
Kalamazoo & White Pigeon............. Lake Shore & Michigan Southern
^aasaa City & Cameron................... H$nuibal A St. Joseph.
Kansas City & Eastern.....................Missouri Pacific.
Kansas City Lawrence & So. Kaiis. .Atchison Topeka & Santa Fe.
Kansas City St. Jos. & Council B — Chioago Burlington & Quinoy.
Kansas City St.¡Louis A Chic......... Chioago A Alton.
^
Kansas City A Southwestern........... Sr, Louis A San Francisco
K=
s City, Topeka A Western.......Atchison Topeka A SantaFe
Knoxville A Ohio.............................. East Tennessee Virginia A Georgia.
Lackawanna & Bloomsburg........... Delaware Lackawanna A Western
Lafayette Bloomington A Muncie.. .Lake Erie A Western
western.
Lake Erie Wabash A St. Louis..........Wabash St. Loifis A Pacifie.
Leavenworth Atohison A N west... .Missouri Pacifie
¿ S cs Ä
r ° e & GalV...... Maine City Lawrence A Southern
^eeas 7 r aximugton....................... KansasCentral.
Lehigh A WUkesbarre Coal Co......... Central of New Jersey.
1Lexington A Southern...................... Missouri Pacific.
rLiorNoithwestern..................Chioago Burlingfon & Quincy.
Long Dock Company.........................New York Lake Erie A Western
Louisiana A Missouri River.............Chioago A Alton
western.
Louisville Cincinnati A Lexington..Louisville A Nashville
Louisville N. Albany ss St. Louis— Louisville Evansville A St Louis.
VÄ
l L? T nC?,,........................Boston A Lowell
BOal8*
Lynohburg A Danville..................... Virginia Midland.
JWacon A Augusta............................Georgia RR A Rimirino-rv.
Macon A Western.............................Central Railroad A Bank Co Ga
’
Manchester A Keene,...................... Boston A Lowell.
Marietta Pitts oui g & Cleve.............Cleveland Wash. A Baltimore, *
................-Cineinnati Ma-piAttii
Maiicttd P itts h n ^
Massachusetts Central......................Central Massachusetts.
Massawippi........................................ Connecticut A Passumpslo.
Memphis A Ohio................................Louisville A Nashville
Menominee River.............................. Chicago A Northwest

s a ès c ü :
mÄ

Danville & Vincennes......... Chicago A
tihtwU
o
...................Chicago MUwaukee & St. Paul.

........ K s r
a S Ä : : z : : - .... S f c “

1 &a 8 p cffl«

“ o i S S I? ? . ? ^ “ - - - : - i Ä o I s L o Ä oMs“ “ u a< raM .^aukee A Madison...................... Chicago A Northwestern.
MiunesoUCemrai6™ ......................Chicago Milwaukee A St. PauL
Minnesota v t Y w 1............................Chicago Milwaukee A St. Paul
Missismirii VaUey..............................Chicago A Northwest.
î r! ' ' i" .\..............................Consolidated Vermont.
Missouri River

k b ............................ Missouri

Pacific.

Detroit&Bav n t 1 “ 1'0118............... Chicago & No. West.
“
Detroit & Ä £ S k L Mar4Uette......»ninth South Shore & Atlantic.
Detroit Monroe & Tnied«..................Detroit Grand Haven & Milwaukee
Detroit £ « *
..................^ k e S b o re & Michigan Southern.
Dixon Peoria A Hannibal"................ ^ a n d Haven & Milwaukee-

S S !X Ä !" £ E
S S ? ®

- " -

3

iB S

;*
t ass

F t o f & H olly heni............................ Chicago MUwaukee & St. Paul.
Florenoe El Dorado" & w .................. aY1
^-& PSfe Marquette.
Florida Central
...................AtohisonTopeka A Santa Fe.
Fort Smith & Van Buren Bridge' ' * s* r J •Railway & Navigation Co.
Grand*iUpids°^w^vgoU V si.V......Chicago & Northwest.
A "
GranaRiver Valiev yg° & L' sll0re--Chicago & West Michigan.
Great Western GUA.......................... Michigan Central.
Green Bay & Minnesota,................... Wabash St. Louis & Pacific.
Greenville & Columbia*...................Green Bay Winona & St. Paul.
VAWUmDla....................Columbia & Greenville.

S S Ä IÄ f*
.......... MiMmrt K , ^ *
Harlem A Portcheater...................... Wabash St. Louis & Pacific.
Hastings * D a k o ta ^ ...................... Haven & Hartford.
Henderson Bridge On........................f 1
Ü.^M^.M^^aukee & St. Paul.
Holly Wayne A M onroe..................... & Nashville.
Holyoke A Westfield .....................Flint & Pore Marquette.
Houston A Great Northern.............. Haven & Northampton.
Hudson A R iw V a U s “
...............C h i i W p an? ™ & Texaa................... olüc- 8t- Paul Mlimeap. A Omaha.
Gfinolf M id fiL d^ ^ *........................ B'irl^ ^ on & Quincy.
b “» “ ' *




New Bedford Railroad...................... Old Colony.
*
Jersey Midland.. . . . . . . . . . . . . . . .New^ York Suflnii^himna A wnafmm
r
New Jersey RR. A Transportat’n Co.United New Jersey RR A Canal Oo*
New Mexico A So. Pacific ................ Atchison ToDeka a SnnY» p f 1“ “ 00
New Orleans Jackson A fl.N
nt,, n-rT 0PÎ;..a p . ~ . a^e*
a+
New Orleans A Mobi l i *
_
.
.
!
:
Nashvi nl
W A ^ r eT u f a^ c ......................... Texas Island
Newtown A Flushing...........
Long A Pacific.
New York Elevated ........... ! . . Manhact^ Elevn ted
New York A Manhattan Beach....... N. Y. Brooklyn A Mauhat Bnanh ru»
New York Î Rockaway....................Long Y o ^ oÌtario A W ^ ^ ° °
S° Mi(lland..........New Island.
Nfw Ynik A &
wnvfniti ce^«+'18tohn .......................... Cleveland A Mahoning Valley.
Nerfoik A Petersburg........................Norfolk A Western.
y
îinÎth wis»0Url................................... Wabash St. Louis A Paoiflc.
S
Ä
Ä
: . r ......................S i l o i s ä
ì g r**-

S S S w f î*™ Union................... :e K S SA”Northwest Q
¿ Â Î
Northwestern S ’? *
Chicago
Northwestern Virginia...........ißalthnore A ( ^ i a St'

r -

........
........................t°l. Hooking Valley It Toledo
on n lte if Chicag0.............................Buffalo New York A PhUadelphla.
Olean A S a i a m a n c ä . ............ M a l o n I w Yo^k A Ä
»
'
Omaha A Southwestern...................Chicago B u rlS gtoi^ oììh a cyPhla‘
Orange A Alexandria........................Virginia Midland ® Qmnoy.
Ottawa Oswego A Fox River........... Chicago Burlington A Quinoy.
Pacific of Missouri........................ Missouri Paelfle
ParisC ftftfl1h abetht0Wn................Chesapeake Ohio A Southwestern.
AhD
S
7 « i ^ ati rVY-"Y*................... Teire Haute A Peoria.
P e n & Ä iMich?
tUr.................Decatur A Evansville.
PA ^f^
nrH
t C" '
..............Chicago A Northwest.
P H t e b o ? i & ° 6 t . ^ a ° Tiiie...........
R e ^ i^ H ? n U 'n i 6 tBulfel0..........Buffilo New York & POUa^lphU.
*
ft'fe
^
................ Atchison Topeka A Santa Fe.
P A Î Î i^ T Â . LakK MlohlSai1..........Chicago A Lake Huron.
D«ïd?T>nd Kennebec........................Maine Central.
.....................................Port Royal A Augusta
Pupkin
" »V ii................... Chicago Milwaukee A St. PauL
Pueblo A Arkansas Valley.............. Atchison Topeka A Santa Fe.

INVESTORS’

1 1 3
FORMER NAME.

WILL NOW BB FOUND UNDBB

Quincy Alton & St. Louis.................Chicago Bimhngton & Quincy.
Ouincv A Palmyra . . . . . . . . . . . . . . . . . .Hannibal & St. Joseph.

S&CXnNSfc
Rochester & Pittsburg.......................Buffalo Rochester & Pittsburg.
Hafrinaw A Western ..........................Detroit Lansing A Northern.
s fjo s e n h & Denver City ................ St. Joseph & Grand Island.
St. Josenh A Pacific...............i ....... St. Joseph & Grand Island.
St. Joseph & Western............. ------ St. Joseph & Grand Island.
St. Louis Iron Mount’n & Southern Missouri Pacific.
St. Louis Jacksonville & Chicago.. ..CTficagoA Alton.
S t. Louis Kansas & Arizona............
St. Louis Kansas City & Northern.. .Wabash & Western.
flt t^ Ia < Lexin&rton.................. .-..Missouri Paoiflc.
ou
fe
St. Louis Rock Island A O .................Chicago Burlin^on AQuincy.
St. Louis A Southeastern..................^tfisvUle A Nashville.
St. Louis Wichita A Western........... St. Louis A San F ^ n eisco. _
flt Paul A Chicago........... .............. .Chicago Milwaukee A St. Paul.
At* puni A Eastern Grank Trunk....Milwaukee Lake Sh. A Western.
?
Bt P aS A p “ iflc 7 " “ ............... St. Paul Minneapolis A Manitoba
flt Paul A Sioux C ity ..................... Chic. St. Paul Minn. A Omaha.
St! Paul Stillwater A T. F ....J .........Chic. St. Paul Minn. A Omaha.
Rai«wn A Ijowell
Boston A Lowell.
flindMkv A a e v e ia n d ..................... Cincinnati Sand. A Cleveland.
i S S f f i v a t v A Indlana:. . ! ! . . ! . . . . Cincinnati Sandusky A Cleveland.
Sandusky Dayton A cS oin nati.......Cincinnati Sandusky A aeveiand.
Rftw Francisco Oakland A Alameda. Central Pacifie,
flan Pablo A Tulare . . . . . . . . . . . . . . . ..Northern (California)
Savannah Albany A G d i.. . . .......... .Savannah Farida A Western.
Savannah A Charleston................... Charleston A Savannah.
Schoolcraft A Three Rivers...............Lake Shore A Michigan Southern.
Scioto A Hocking Valley...................Cincinnati Wash. A Baltimore.
■Sioux a t y & D a k o t a ...................Chicago Milwaukee A St. Paul.
flionx Citv A Pacifio..........................Chicago A Northwestern.
Sioux a t y A St. Paul........................ Chic. St. Paul Minn. A Ohama.
Bmithtown A Port Jefferson.............Long Island.
vCl8C0,
South Pacific (Mo.)............................ St. Louis &
flnntta Side (L I )
........................Brooklyn A Montauk.
K b K b m i::::
....
NortoS A Western. ^




SUPPLEMENT
FO R M E S NAME.

[V ol . x i i i v ,
WILL NOW BE FOU.'D UNDER—

Southern Georgia A Florida............. Savannah Florida A Western.
Southern Kansas..............................Atckison Topeka A Santa Fe.
Southern Minnesota......................... Chicago Milwaukee A St. Paul.
Spokane A Palouse............................Northern Pacific.
Stan stead S. A Chambly................... Consolidated Vermont.
Steubenville A Indiana..................... Pittsburg C. A St. Louis.
8unbury A Erie..................................Philadelphia A Erie.
Taylor’s Falls A Lake Superior.......St. Paul A Duluth.
Tebo A Neosho...................................Missouri Kansas A Texas.
Terre Haute A Southeastern............Evansville A Indianapolis.
Texas A St. Louis.............................. St. Louis Arkansas A Texas.
Toledo ancinnati A 8t. Louis........ Toledo St. Louis A Kansas a ty .
Toledo Delphos A Burlington.........Toledo St. Louis A Kansas a ty .
Toledo A Tmunis............................... Wabash St. Louis A Pacific.
Toledo Logansport A Burlington— Chicago St. Louis A Pittsburg.
Toledo Peoria A Warsaw..................Wabash A Western.
Toledo A Wabash.............................. Wabash St. Louis A Pacific.
Union
Northern
Central.
Union‘¿ ‘ Logansport.........................Chic. St. Louis A Pittsburg.
Union A Titusville............................Buffalo New York A Philadelphia
Utah Southern.................................U tah Central.
Vermont A Canada.......................... Consolidated Vermont.
Vermont Central...............................Consolidated Vermont.
Vernon Greensburg A Rush ville
ancinnati Indianap. St. L. A Chic.
Virginia Central............................... Chesapeake A Ohio.
Virginia A Tennessee.......................Norfolk A Western.
W aco & Northwestern....................Houston A Texas Central.
Wallkill Valiev....................................Lehigh A Hudson River.
Washington Cftty Va. Mid. A Gt 8o..Virginia Midland.
West Chester A Philadelphia........... Philadelphia A Baltimore Central
West Wisconsin .. ......................... Chic. St. Paul Minneap. A Omaha
Western Minnesota......................... St. Paul A Northern Pacific.
Western Pacifio................................Central Paciflc.
Western Union Railroad...................Chicago Milwaukee A St. Paul.
Wichita A Southwestern...................Atchison Topeka A Santa Fe.
Winona A St. Peter... ............... - .Chicago A Northwest.
Wisconsin Minneapolis A Pacific___Minneapolis A St. Louis.
Wisconsin Valley............................. Chicago Milwaukee A St. PauL