Full text of Commercial and Financial Chronicle : May 19, 1917 : Electric Railway Section, Vol. 104, No. 2708

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LECTRIC RAILWAY
SECTION
COMMERCIAL & FINANCIAL CHRONICLE.
OF THE

,

Copyrightedin 1917 according to Act of Congress,by WILLIAM B. DANA COMPAN
Y,in office of Librarian of Congress, Washington, D.C.

Vol. 104.

NEW YORK, MAY 19, 1917.

ELECTRIC RAILWAY SECTION.

EXPLANATIONS OF TERMS AND ABBREVIATIONS
USED.

The Electric Railway Section. Issued three times a year, in January.
May and September, is furnished without extra charge to every annual subscriber of the Commercial and Financial Chronicle.
The Railway and Industrial Section, issued three times a year on the
last Saturday of February, June and October. is also furnished without extra
charge to every Chronicle subscriber.
The Railway Earnings Section. Issued monthly, containing the sworn
returns of earnings and expenses filed each month with the Inter-S
tate
Commerce CommLssion, is likewise furnished without extra charge to every
annual Chronicle subscriber.
The State and City Section, issued semi-annually on the last Saturday
of May and November, is also furnished without extra charge to every
subscriber of the Chronicle.
The Bank and Quotation Section, issued monthly, Is also furnished
without extra charge to every subscriber of the Chronicle.
The Bankers' Convention Section. issued yearly, giving the detailed
proceedings of the annual convention of the American Bankers' Association. Is likewise furnished without extra charge to Chronicle subscribers.
Terms for the Chronicle, including the six Supplements above named.
are Ten Dollars per annum within the United States, Thirteen Dollars
(which includes postage) In Europe, and $11 50 in Canada.
File covers for the Chronicle are sold at 60 cents each (which includes
postage). File covers for Supplements can be had at same price.
CHICAGO OFFICE.-39 South La Salle Street.
LONDON OFFICE—Edwards & Smith, 1 Drapers' Gardens, E.0.
-WILLIAM B. DANA COMPANY. Publishers,
Front, Pine and Depeyster Streets, New York.

MAPS APPEARING IN THIS ISSUE.
For the purpose of showing in a graphic way the
looation of their Imes, a few of the more important
systems described in this issue of the "Electric Railway Section" are accompanied by maps. The
following furnishes a list of these maps, together with
the pages on which they appear.
LIST OF MAPS.
Page.
Brooklyn Rapid Transit System
14
Cumberland County Power & Light Co
102
Detroit United Railway System
37
Georgia Light, Power & Railways
59
Havana Electric Railway, Light & Power Co
130
Illinois Traction System
20
Lehigh Valley Transit Co. and Lehigh Valley Light 8z,
Power Co
4
New Orleans Railway & Light Co
72
New York Municipal Railway Corporation
15
New York State Railways
108
Pacific Gas & Electric Co
113
Philadelphia & Western Railway Co
94
Public (lervice Corporation of New Jersey
80 and 81
Republic Railway & Light Co
127
United Gas & Electric Corporation
77
United Light & Railways Co
46
West Penn Traction Co. System
99



No. 2708.

The following is an explanation of the terms and abbreviations used on succeeding pages in the presentation of the
statements of the different companies:

"STOCK AND BONDS."—Under those words are shown—
"Stock."—The amount of stock authorized immediately follows the
word
"stock." and against this is the par value of single shares. For
example,
"Stock. $200,000 ($100)," means stock, total issue authorized by
charter
or by Act of Legislature, $200,000, divided into shares of $100 each:
"f. p.''
following the amount given as outstanding moans "full paid,"
"Pref." means "preferred stock." "Pref. 6% cum." means
preferred
stock entitled to dividends of 6% per annum, such dividends if
not DIM
accumulating, all dividends due and unpaid to be paid in full for
each and
every year before the common stock receives anything. "Pref.
6% noncum." means simply that the stock is entitled to 6% per annum
if earned,
but that if unearned in any year the dividend for that year will
not be paid
subsequently. "Div." means dividend. The last dividend paid
is shown
under the column headed "Maturity."
"Bonds."—"Mort.," "mtge." or "M." means mortgage.
"Consul." or
"con. M." means consolidated mortgage. "Gen. M." means
general
mortgage. "Ref. M." moans refunding mortgage. "Coll.
tr." means
collateral trust. The amount next following is the total
authorized
amount that can be issued under the mortgage. The denominati
ons in
which the bonds are issued usually follow in parentheses
. The word
'gold" is usually spelled out, but in some instances is contracted
to "g,'
while "cur." means currency.
"Cony." means convertible into stock. "S. f." means
sinking fund.
'c." means coupon; "c*" means coupon but may be registered
as to principal; "r" means fully registered (no coupons), "r*" means
registered, convertible into coupon bonds; "c*&r*" means registerable in
either form and
convertible from registered to coupon or the reverse; and
"c*&r" means
that registered certificates without coupons as well as
coupon bonds are
outstanding. The letters "p.m." mean per mile, so
$15.000 p.m. means
that the issue of bonds is restricted to $15,000 for
each mile of track.
"Guar." means guaranteed, and "guar. p. & I. (end.)"
means guaranteed
as to orincipal and interest, the guaranty being endorsed on
each bond.
'Red." means redeemable. "Trus." or "tr." means trustee
of the mortgage.
TAX EXEMPTION.—Where there Is a provision
bond or mortgage
which would seem to make the interest free from thein
we indicate the fact in black-faced letters—tf, meaning Federal Income tax,
apparently
tax-free:
where there is no such covenant- we insert the letters ntf.
meaning apparently not tax-free. Where we have no knowledge other
than that the
company has assumed or is paying the tax, we insert the
letters cpt, which
means that company pays tax, at least for
present. Until the courts
have passed both upon the various featuresthe
of the tax and the effect of
the several tax clauses in the bonds and mortgages, it is impossible
to give
more definite information.
"DATE."—The date of issue on the face of the bonds is
indicated under
the word "Date."
"INTEREST."—Under this heading is given the rate
per cent yearly
of the interest payable on the bonds or (if guaranteed) of
the dividend
payable on the stock; also the months when the interest or
dividend is
payable; thus "6 .1-.1" means 6% per annum payable
January and July;
correspondingly "F-A" is used to mean February and
August;
means March and September, and so on; while "Q-J" means "M-S"
quarterly
beginning in January and "Q-F" quarterly beginning
day when the interest payment is due can generallyinbeFebruary. (The
determined by
noticing when the loans mature, the day of the month there
in most cases the same as for one of the interest dates.) "S.given being
-a." means
semi-annual.
"ROAD."—The word "track" means In street railway
parlance all
tracks, whether main line, siding, switch or second
"Bails are
80-lb. girder" means that each rail weighs SO pounds to track.
the yard. "k.w."
mean kilowatts and "h.p." ille3nti horsepower. "k.v.a."
means kilo-voltamperes. "P-A-Y-E cars" means pay-as-you-enter or prepaymen
t cars.
"Exts., add'ns and impts." moan extensions, additions
and improvements. "Auth." means authority or authorized. "0th.
Inc."
means
other
income. "Cal. year" means calendar year.
REFERENCES TO "CHRONICLE."—This supplement is
expressly
intended for use In connection with the investment news and
official reports
published from week to week In the "Chronicle." Frequent
reference Is
therefore made to the volume and page of the "Chronicle
tas V. 103. p.
000), where fuller Information may be found. Following "also
each statement is given a reference to the latest news item in the "Chronicle
" respecting the company. As every such item contains a reference
last preceding item, the reader can run back at pleasure. Annual to the
reports
are in black-faced figures.

ELECTRIC RAILWAYS.
SECURITIES AND REPORTS
...111,12•11111111.11..etelielltal.4.4.4.4.1.
,
41

they are inter-dependent
In using the series it is to be remembered that
icle" contains from
"Chron
This is one of our six Sections or Supplements.
the
news
of
items
fresh
the
with
d together, and
ent for his money.
lodgm
rative
publications, complete only as a whole. If utilizeation
remune
and
safe
g
a
seekin
in
he needs
week to week, the investor will have all the inform
book.
the
of
found is given in the closing pages
A full Index showing where each company, will be
s energy, directly or indirectly, to 9 othery
I business in Akron and supplie
with an aggregate installed capacit
communities. 3 generating stationsaddition
al 20.000 k. w. turbines have
2
ns.
sub-statio
17
co.
of 40,000 k. w.;
holding
-A
N.
RATIO
CORPO
RIC
4-story office building and passenger terminal in Akron
NORTHERN OHIO ELECT
and owns 99.84% of the common been ordered. beAcomplet
1917.
during
ed
Incorp. In New York on Oct. 18 1916
d
to
Water
Is
expecte
Also controls the Kent
report in V. 104, p. 1696):
stock of the Northern Ohio Trac. & Lt. Co.
REPORT.-For calendar years (1916
Bond Pref. Div. Com.Div. Balance.
Net (after
Gross
& Light Co.
of common stock (no par value) Calendar
(5%). Surplus.
. (6%).
Interest
c.)
Taxes,&
s.
CAPITALIZATION.-75,000 shares$100):
Earning
Yearpref. as to assets and divs.;
6 $450,000 $663,837
stock (par
442 $2,004,463 $619,520 $271,10
S6.000,000 6% cum. pref.divs.
35,170,
stock.
pref.
on
1916
ds
Dividen
240,151
-M.
450,000
Q.
199,281
payable
callable at 105 and divs.;
3,890,751 1,517,741 628,309 182,364
1915
450,000 159,394
were begun Mar. 1 1917. Inc., N. Y., and E. W. Clark & Co., Phila., 1914
3,636,085 1,398,656 606,898
and
Kenney
A.
T.
-Ps.,
V.
Y.;
Hodenpyl, Hardy & Co.,
OFFICERS.-Pres., B. 0. Cobb,&N.
Sec., F. C.
management the properties are operTreas. Gen. Mgr., A.C. Blinn;
under whose direct supervision and
Gen.
hi Oct. 1916 on the basis of Charles Currie, N.Y.; V.-P.,
Bourne;
H.
stock
G.
and
pref.
000
Wolff
E.
$6,000,
S.
the
out
ated, brought
664, 1703. Potvin; Ass't Sec. & Ass't Treas.
corn.stk.for $1,000. V. 104, p.362,
1210, 1302, 1413, 1508, 2079; V. 104, p
10 shares of pref. and 5 sharesuent
Aud., H. G. Kessler.-V. 103, p.'
companies for 3 mos. ending Mar. 31: .
EARNINGS.-Of constit
p. 1592, 1696.
Charges. Surplus
Net.
s.
var
Expense
Gross.
3 Mos.
$220,167
$376,047
$596,214
$923,712
$1,519,926
1917
241,737
347,756
ALBANY, N. Y.
589,493
547,403
1,136,896
1916
UNITED TI/ACTION COMPANY.
Co.
e & Hudson Co.
Northern Ohio Traction & Light
Entire stock except 4 shares) is owned by The Delawar
by the Northern Ohio Electric Corp.
stock of the
99.84% of the corn. stock Is owned
r to the V.81,p. 1552; V.82, 160. The D.& H.also owns the entire
successo
as
1902
Dec.
in
Ohio
in
rp.
.-Inco
urg Traction Co. and a half
ORGANIZATION
Piattsb
the
and
comRR.
the
p'
es
for
England
New
securiti
&
its
Troy
ed
other half.
Co., having exchang
owning
Rys.
State
York
New
the
Northern Ohio Traction the
By.,
In
tady
1906
latter per terms in V. 75, p. 733. ees that Interest in the Schenec
30 1899 as a consolidation of the
mon and pref. stock of
ORGANIZATION.-Chartered Dec.
ron Consol. Ry., and guarant
iet Turnpike & RR.(chartered
Watervl
the
acquired control of the Canton-Ak
Also
1850),
in
red
849.
435,
p.
(charte
By.
83,
V.
Albany
5s, prin. and int.
V. 69, p. 1147.
(chartered in 1850). See uent
company's $2,500,000 consol.
Wadsworth & Western Trac. Co. and in 1862) and the Troy City Ry.
companies,
leases to the constit
owns entire capital stock of Akron
n stock listed on N. Y. Stock 1300: V. 70, p. 77. Operates under
RR., Waterford & Cohoes
Cohoes
&
burgh
guarantees its bonds prin. and int. Commo
Lansing
RR.,
&
Cohoes
the Troy
of the
Exchange in March 1909. light and bower properties are operated under RR., Cohoes Ry. and the Capitol By. Owns 97% of the stock
80% of the
Franchises.-The electric
the Waterford & Cohoes RR.,
duration. City railway franchises expire Hudson Valley Ry., 71% ofcapital
By., Cohoes By.
Capitol
the
of
stock
rights without specified limit as to
interthe
the
all
, 1928: Massillon, 1932. 559' ofes without Forest Park Ry. and
as follows: Akron, 1924; Canton
and Great Western Turnpike Road.
or subject to franchis
ure in 1904 and reorganized as
urban trackage is on private right-of-way
The Cohoes City By. was sold at foreclos
ban mileage expire from 1917
$84,000 bonds; all of the stock
time limit; franchises for remaining interur
Cohoes Ry. Co., with $120,000 stock and
Trust Co. of New York as security
to 1931.
t for the lighting of the city of Akron. and bonds are deposited with the Central
In Oct. 1912 made a 5-year contracned
e in auth. amount of pref. for bonds of the Albany By.
increas
sanctio
1914
24
Jan.
1906 acquired a majority of the
lders
Dec.
-In
Shareho
v. 98.
Acquisition of Hudson Valley.
ng further additions, extensions. &c.
Ry. Co. and increased its own stock
stock to $5,000,000 for financiamount
of pref. stock was further increased stock and bonds of the Hudson Valley
the purchase. V. 84, p. 52.
finance
to
,000
p. 74. On Oct. 2 1916 auth.
$12,500
from $5,000,000 to
Capitol By. (a short line on the
to $10.000,000. V. 103, p. 1302.d negotiations, conveyed to city of Akron
Franchises perpetual except that ofinthe
1951.
expires
On April 14 1914, after extende
which
,
s
Albany)
of
outskirt
rights for $348,000.
with the Albany Southern
certain Cuyahoga River water
Traffic Agreements.-Has traffic agreements
e Court hold that the franchise granted
and Electric Express Co. by
On Oct 19 1915 the Ohio Suprem
(cover- RR., Schenectady By,, Hudson Valley By.into
Stark County Commissioners in 1892
Albany from Rensselaer,
run
are
road
for an indefinite period by theCanton
med
city
limits)
first-na
the
the
of
which cars
Massillon outside
Watervliet, cars of the
ing about 44 miles between by the and
The cars of the Schenectady By. Into Albany, Troy and in
1371.
p.
101,
V.
y-see
compan
Albany, and cars of
Waterford and
was not perpetual as claimed
Hudson Valley By. Into Troy from
to the Federal Court.
United Traction Co.
the
of
lines
the
over
d
company has taken an appeal
operate
,000
company are
the co. to issue $14,075
express
auth.
the
Comm.
U.
P.
Ohio
ack El. Pow. Corp.
the
by
t
Adirond
1916
On July 21
Electric power is furnished under contrac
of which $12,000,000 to be used to redenied the company's petition for an
40-year 1st lien & ref. 5% bonds,
$4,000,000
On June 28 1916 the P. S. Comm.
Troy.
and the remainder for ext. and impts.
and
Albany
between
cents
tire underlying securities issued,
the increase in fare from 10 to 15
the proceeds being used to take up
y's lines for two days was
of the new bonds were coll, trust
0 coll.
Strike.-A strike which tied up the compan
bonds of 1913 and the $500,00
being agreed upon.
issue
at
points
the
of
$1,300,000 outstanding
ion
1413.
arbitrat
1210,
4
p.
1916,
settled on Oct.
exts. and impts. V. 103,
trust bonds of 1915 andtofor
to issue $1,000,- V. 103, p. 1413.
the Ohio P. U. Comm.for auth.
Interest. Outstanding. Last div..&c.
In Dec. 1916 applied
stock will
STOOK AND BONDS- Date.
ction work and extensions. The
$12,500,000 See text
4 J-J
000 c,om. stock at par for constru
issued.
if
and
as
when,
Stock (par $100).512.500,000- ---_
Corp.,
Elec.
Ohio
n
456,000 May 1 1919
Norther
the
by
g M-N
taken
414
be
1901
gold
000.
$1,250,
res.
y.
Debentu
Maturit
ding.
Outstan
cial Bank, Albany.
.
Commer
Date. Interest
r_ntf Int. at National
STOCK AND BONDS($1,000)
00 June 1 2004
2,620,0
$9,000,000 Mar '17, 1 X
15
Q-M
J-D
g
44
00)
1904
.000(51
gold
$10.000
Cons mtge. $6,500,000,
.itock. corn.
13.
'17.
Apr
00
N. Y.. Trustee.
Co.,
4.800,0
Trust
Q-J
Central
c*tf Int. at
(51.000)
Prof310,000,000($100)6%cum 1916 5 g F-A
00 Aug 1 1956
Jan 1 1930
4,409,0
428,000
5 g J-J
Albany Ry cons M (5500.0001 1890 Central
1st lien & ref. mtge, g.($100,1
nd.
Trust Co., N. Y., trustee.
&r*_ I Int. payaole in N. Y. or Clevela
c* ntflint. at
)
($1.000
$500, $1.000, &c.)..c*mort
geld
1
1919
July
June 1 1947
00
496,000
2,995,0
J-J
g
5
J-D
g
1899
5
(
1897
Northern Ohio Trac,
. Albany Ry gen M 3750,0005Int.
at Central Trust Co., N. Y., trustee.
Interest at Central Trust Co.. N.Y..Trustee
tf
gold
g,$3,000,000 (31,000)cs_tf
May 1 1919
350,000
-N
or Citizens Say. & Trust Co., Cleveland. Watervl
M
6
1889
iet Turnpike & RB-i
Co., Trustee.
3,254,000 Jan 1 1933
1903 4&5 g J-J
ntf Boston Safe Dep.& Tr.150
1st M guar
Northern Ohio Traction & Int.
000 May 1 1919'
Say. & Tr. Co., Cleve.. Trustee.
Cit.
at
M-N
6
).
1890
($1.000
ntf
consol
1st
guar_
Light
2d M.p & int
Trustee.
or at First Nat. Bank. New York.
Metropolitan Trust Co. N. Y.,Oct
gold, $7,500.000 ___ _c*_tt
1 1942
See text July 1 1933
' 00
2,000.0
5g
5 g A-0
Troy City let con M. gold,' 1892
Ak Wads & West mortgage, 1906
Trust Co.,N.Y.
Central
.
Trustee
by
paid
t.
__tf
)
cs&rfIn
($1.000
000
$500,000 guar
$2,000.
after
prior
date
div.
to
retire
any
d
on
reserve
div..
is
and
000
110
at
Stock.-Pref. Is red.. all or part,
Bands.-Of the consol. mtge. of 1904.$3.880,
may fix rate of
as to div. and assets and has full voting power. liens. No sk. fd. and bonds are not subj. to call. Directors
IS at 434 %. The
April 1 1919. Is pref.
issue
present
1116.
6%;
p.
ng
97,
V.
exceedi
p.48;
not
V. 92, p. 956; V.95, 1st lien and ref. bonds may be issued (a) par for par, int. on unissued bonds but
int, rate for
on 3 mos.' notice at "a 5%
Bonds.-Additional ng the $9,666.000 underlying bonds; (b) for 85% delbs. may be called on any int. date standar
d int. tables." V. 73, p 1113.
the unexpired term as calculated in
for refunding or acquiriction,
and
ons
and
of whirl)
0,
extensi
ents
$750,00
for
betterm
s,
was
addition
1897
of
e
The Albany Ry. general mortgagation made reservation inoperative.
of cost of new constru
al properties, under
or replacement value of addition
(c) for 85% of cost ions.
by mortgage on entire $254.000 was reserved, but consolid
, stock $50,000, divs.
secured
are
()oboes
&
bonds
Troy
The
include
restrict
roads
conservative
• The Troy City lea.ed
$1.246.000 Nor.
stock, $15.000: dive, under lease,
ing liens, and by deposit of ron
property, subject to underly
consol. 5s of under lease. 7%; Lansingburg & Cohoes.
$25.000 stock receives 7% yearly
of 1933, $1,243,000 Canton-Ak
Ohio Traction & Light 4s
Nor. Ohio Tract. 1st 7%. The Waterford & °oboes RR.
$5,000
5s,
West.
&
Wads.
Akron
1933, $200,000
Canton-Mas- under lease.
1;„,was paid May 1 1900; same rate
ron 1st 5s of 1922, $10,000
DIVIDENDS.-FIrst quay. div.,1 3,
Se a 1919, $5,000 Canton-Akable
as a whole or in part, on any interest continu
or year 1906 634% was paid. On
ed up to and incl. July 1905.
sillon 1st 5s of 1920. Redeem
ance and
a
mainten
for
s
provide
mtge.
55.000,000 to $12,500,000 and diva.
The
.
from
date at 105 and interest of gross earnings for maint. and replacements, Dec. 31 1906 stock was increased
paid July 1 1907. 2% Jan. 1 1908
depreciation fund of 20%
be issued: made semi-annual (J-J) and 2% to
and incl. Jan. 1915. None since.
ents, against which no bonds may
or for additions and bettermce
of 4% of and 2% each six months thereafter
&c.,
claims,
damage
for
first main line track, of which 47.55
reserve
of
ROAD.-Operates 61.64 miles
also provides for an insuran0 is reached, at which figure the fund is to be
miles of track, of which 91.86
110.43
all
$100,00
in
s
until
operate
and
s
are
owned,
miles
earning
Says.
gross
Citizens
Cohoes, Rensselaer, Watervliet.
York Trust Co., N. Y., and
connecting Albany, Troy,&c.
owned,
miles
of
maintained. Trustees are New
5s
Trac.
Ohio
n
Norther
The
Rails, 47 to 141-1b. Girder
1210.
V. 103. p.
burg, Green Island, Waterford,
& Trust Co. Cleveland.
in Oct. 1901. Of the $7,500,000 Lansing
g 14 snow-plows, 12
' on the Phila. Stock Exch.
1899 were listed
d to retire the and T. Standard gauge. Has 494 cars, includin
reserve
are
000
$3.000,
consols,
Lt.
&
s and 22 service cars.
sweeper
4s.
Northern Ohio Trac.
rest
the
ding;
outstan
all
5s,
$1,000.000 are
ANNUAL REPORT.-Years ending June 30:
North. Ohio Trac. bonds. lders
providing
1915.
1916.
approved action of directors in
1915.
1916.
On Jan. 24 1914 stockho
$507,627 $911,597
upon the various issues of the com- Gross earn'gs42,391,
082 $2,452,360 Total net..___
for the payment of Federal income tax
727,594
641,534
taxes.
Oper. exp..--- 2,039,415 1.776,326 Oho.&
pany's bonds.
(2)250.000
,o,
ED RAILWAY.
Net
7
clef
.65,997
CANTON-AKRON CONSOLIDAT
.133.90
3rear_df
y.
for
Maturit
Bal.
ding.
235,563
interest. Outstan
Date.
Other income- 155,960
; V.-P.
STOOK AND BONDSN. Y.; V.-P.,0.8.Sims, Albany
$867,000 Jan 1 1933
1906 5 g J-J
OFFICERS.-Pres..L.P. Loree,
rwax, Albany; V.-P. & Asst.
Weathe
°onset M $2,500.000. gold, Int.
B.
nd.
H.
Co..
&
Trust
-P.,
V.
Clevela
Say.
Y.;
N.
s,
Citizens
at
W. H. William
Sec. &
Y.;
N.
Parker,
H.
G.
guar p & 1 by North Ohio
,
York.
V.-Pres.
to
New
Trustee, or First Nat. Bank.
to Pres., W. B. Schofield; Asst.
Albany. Comp., W. H.
Trac &Light($1.000)cs_tf 1902
1,145,000 Mar 1 1922 Aud.. W. H. Elder; Treas., H. F. Atherton,Albany.
5 g M-S
l office,
Principa
Canton-Akron 1st mortgage, Int
Hewitt,
F.
Y..
N.
Chas.
Trustee
Co.,
Mgr.,
Tr.
ia
Gen.
Columb
. at
Davies, N. Y.;
82.000.000.g ($1.000)cs_tf 1900
840,000 May 1 1920 Albany.-V.100, p. 310, 1350. 1834; V. 101, p. 616; V. 103, p. 1413.
5 g M-N
Canton-Massillon 1st mort Interest
at Cleveland Trust Co., Trustee, or
(1) Hudson Valley Railway. n Co. of Albany acquired control through
$1,000.000. g ($1.000) -_tf
York.
New
Co.,
Trust
,
y
at Guarant
In Dec. 1906 the United Tractio
565,000 Feb 1 1923
stock.
1903 5 g F-A
1st M Can & N P.$1,000,000 Int.
purchase of a majority of the capital
.
Trustee
Co.,
Boston,
Tr.
&
Ln.
1901 as a consolidation of the
Am.
at
c*_tf
gold ($1.000)
ORGANIZATION.-Incorp. Aug. 14Street By., Warren County By.,
are
pledged
000
$1,243,
consolidated bonds,
Edward
Fort
&
Hill
Sandy
Falls
Bonds.-Of the $2,500,000
Glens
d for extens.
reserve
are
ch & Schuylerville Street
0
Greenwi
$290,00
and
mtge.,
ref.
&
1st
Street
L.
cville
By..
under N.0. T. &
V.91, Stillwater & Mechani
a Northern Ry., the capital stock
S. Reed Anthony,Boston,is also trustee.
a Traction Co. and Saratog
and imp. at 859' ofcost.issue
the new company. V.73,1).391.
to call. The Conton-New Phila- By., Saratog
in
subject
is
stock
for
ed
Neither
exchang
being
1765.
of these roads
p. 1628,
the bonds ($200,000) of the North
as a whole at 105 and int. on 3 mos.' notice.
all the stock ($200,000) and all by
delphia bonds may be called
this co. Franchises perpetual.
in 1911 and dividends of 14% quay. Owns
Dividends.-Pref. stock was issued
road operated in Saratoga
begun in 1906 by the declara- River By., aRead)us
were
of the company's finances was
corn.
tment
on
ds
readjus
Dividen
A
paid.
tment.y
al
are regularl
Financi
In
1906.
15
June
from
%
34
of
ents
plan in V. 82, p. 100, 1040. for
installm
per
ure as
foreclos
without
1906
in
tion of 2%. payable in quar.
ineffected
ouar.
in
to provide
payable
d,
was again declare
non-cum. pref. stock was created
V. 82. p. 1213. In 1907 2% In
751.
%;Dec., X %. March 1906 $2,500,000 59'
X
P.
V.
Sept.,
82,
%;
4
bonds.
June,
1908,
"B"
re
.
debentu
151907
the
of
stallmentsfrom June
Co.,
331%. In 1912, 44%• In the convertible features
nts with the United Trac.
In 1909, 1X%. .In 1910, 24%. In 1911,
Traffic Agreements.-Has traffic agreeme
cars of
and Electric Express Co..yby which
1913 and since,5% per annum.
rd
Waterfo
Canton, Mas- Greenwich & Johnsonville Ry.
from
Akron,
compan
through
nd
this
Clevela
of
from
lines
the
extends
PLANT.-Line
, with the United Trac. Co. are run over of this company are run over the Greento Uhrichsville in Tuscarawas County
cars
sillon and New Philadelphia
(via Barberton) and to to Troy, and also in Albany,
express company
rth
the
of
Wadswo
cars
to
and
Kent),
Y.,
N.
n,
(via
a
Thomso
Ravenn
branches to
of wich & Johnsonville at
on. On Jan. 1 1917 owned 244.33 miles
East Greenville from Massill
are operated over the Hudson Valley Ry.
trackage rights affording an entrance into
. Outstanding. Maturity
track, and operated 5 miles under
STOCK AND BONDS- Date. Interest
Lake Park in
Meyers
and
$2,978,300
Akron
in
Park
e
Lakesid
par $100
Cleveland. Owns
000,
Rails,
n,
$3,000,
.
Commo
County
Noble
in
land
See test
coal
of
Canton. Also owns 1,011 acres 84 interurban, 274 city, and 56 miscel- Preferred ($2.500.000 (see(
gauge.
d
standar
114-1b.,
_
70 to
5% non-cumulative
power
text),
and
light
electric
ial
e
commerc
exclusiv
the
laneous cars. Does




AKRON, OHIO.

0

MAY, 1917.]

•

•

•

ELECTRIC RAILWAYS

3

STOOK AND BONDS- Date.
Interest. Outstanding. Maturity. panies are being formed continually, which from
time to time are absorbed
First consolidated mortgage( 1901
5 g J-J
$2,222,000 July 1 1951 by the Leh. Val. Lt. & P. Co. Stock authorized,
$850.000 (par $100):
$4,000,000 (denomination(Interest at Manufacturers' Nat. Bk.. Troy. outstanding, $491,100, all owned
by the Transit CO. Does entire lighting
$1.000 gold)
c*tt(May be called at 110 & int. on any,int. date and power business in Allentown, Bethlehem,
Bethlehem, SlatingSouth
Deb "A." Income. $700,000__ 1906
5g
474,000 Jan 1 1951 ton, Catasauqua. Emaus and adjacent territory;
is also wholesaled
Deb "B" Income. $2,500,000_ 1906
2g
2,500,000 Jan 1 1951 to Macungie and to several municipalities alongpower
Transit Co.'s line.
the
Underlying LiensIncluding Coopersburg, Sellersville, Souderton and North
Wales. In
Cil IPSH&FE let M (no opt)1 1891
6 J-J
10CI,000
Past due Aug. 1913 the company closed a contract to supply electricity to
Phil($500 and $1000) gold___c(Central Trust Co., New York, Trustee.
adelphia Suburban Gas & Elec. Co.. a subsidiary of the Amer. the
Gas Co.
2d M.'($500) gold_c 1893
6 J4
do
50,000
past due V. 97, p. 521. Also has numerous municipal street-lighting contracts.
Int. at Merchants' Nat. Bank, Glens Falls. Franchises, with one minor exception, are
perpetual.
6 A-0
do
3d M ($150,000)ntf 1901
82,000 April 1 1921
Owns the following stocks:
May be called at 100.
Cap. Stock.
_1
mortgage
1893
Still & Mech first
6 A-0
47,500
past due.
Name of CompanyOwned. Tot. issue.
Bankers Trust Co.. New York. Trustee.
Lehigh Valley Light & Power Co.(common)
$491,100
$491,100
do consol mtge__1 1898
6 A-0
do
202,500
past due. Allentown
Co
292,100 292,100
$250.000
(Glens Falls Trust Co Glens Falls, Trustee. RittersvilleBridge
Hotel Co
100,000 100,000
Bonds.-Of the $4,000,000 M.of 1901,$482,000 are
aside for prior liens Easton Consolidated Electric Co.(50% paid)
1,498,8001,500.000
and $1,290.000 have been deposited as coll, for temporary loans. The deb. Norristown Transit Co
"B" bonds were cony. into pref. stock at par to March
,000
1 1917. Int. on
s stocks
10,200 160.000
the deb."A" and "B" bonds is neither cumulative nor obligatory. No int. Miscellaneou
Leases Bethlehem & Nazareth Passenger By.for 999 years
at 5% on stock
has been paid on either class. The G. F. S. H. & F. E. 1st M. fell due and
bonds.
July 1 1911, but was extended and is now past due; 2d M.fell due July 1
STOOK AND BONDS- Date. Interest. 0u
1913. Both issues of Stillwater & Mechanicville bonds fell due April 1 1913.
219
ta7n
.3
d5
ine. Maturity •
REPORT.-For fiscal year ending June 30 1916, gross, $787,330; net, Common,$3,000,000, par $50$
after taxes, $216,103; other Inc., $27,475; int, and rents, $312,113; deficit, Pref. $5.000,000. par $50.-- _ _
4.979.687
May'17.13,
1
5%.cum after ov 3 1910268.536.
mortgage, $5,000,000 1005 4-5 g M-S 4,994,000 Dec
ROAD.-Main line extends from Troy northward along the Hudson First
1 1935
gold (51,000)
ctf Guaranty Trust Co.. New York, Trustee.
through the villages and tow-es of Waterford, Mechanicville, Stillwater, Consol.
mtge, $7,500,000, 1905
4-5 g J-D
SchuylervIlle, Thomsen. Fort Edward, Sandy Hill, Glens Falls and Cald354,000 Dec 1 1935
gold (31.0)0)
tf Commercial Trust Co., Phila., Trustee.
well to Warrensburg. The Saratoga Division, which branches off the Ref
& imp mtge $15,000 000 1910 5 J-D
5.996,000 June 1 1960
main line at Mechanicville, provides a line from Troy to Round Lake,
gold
($500
and
$1.000)
c*tf
Lehigh
ValleyC
Co. Allentown. Trustee
Trusto.,
Ballston Spa and Saratoga. with a branch from Saratoga Springs to Glens
& Nazar St Ry Stock
Falls, which branch was completed in June 1903. There is also a branch Beth.
150,000 5% guar
Bonds ($150,000)
tt
line from Saratoga Springs to Kaydeross Park on Saratoga Lake and an- Allentown
5 M-N
150,000 May 1 1929
Bridge
1st
M.1
1912 5 J-J
other from Thomson to Greenwich. Total first track, 119.33 miles; second
218,000
1 1942
(2500
and $1,000) ____c*tflGuar. p. & I. by Lehigh Valley July
track, 11.34 m.; sidings, 8.61 m.; making a total of 139.28 miles of track,
Transit Co.
of which 126.81 miles are owned. Rails, T, girder and grooved, 48 to 141 Lehigh Val L & P mortgage{ 1913 5 g A-0
604,500 April 1 1943
$2.000,000
($1.000.
$500
&
Lehigh Valley Trust Co., Allentown. True.
lbs. Standard gauge;70% on private right of way. Operates 97 passenger
100). gold
c*tf Int. at co.'s
cars, 8 freight cars, 11 service cars,8 snow plows. 2 electric locomotives and
or BrownBros.&Co..Phila.
Coll trust bonds, $925,0001 1913 6 goffice
J-J
7 express cars. Company owns Kaydeross Park, at Saratoga Lake, and
($1,000
,
$500,
$100)
Int.
gc*n
at Girard Trust C
tfI
Ondawa Park, between Greenwich and Thomson. Power is furnished by
9o24
.;2
rhila
j
.
.
rus
ulyT1
ltgee
23
Equip trust "Ser A"
tf 5%
the controlled Warren County Lt., Heat & Power Co.
55.250
OFFIOERS.-Same as for United Traction Co., except that A. E. Reyn- Equip trust "Ser B"_
100,000
the
$5,666;656
Bonds.
-Of
first
mtge., $2,770,000 bear 4% interest and
olds, Glens Falls, N. Y., is General Manager.-V.89. p. 286.
are all out, and $2,230,000 are 5s. $6,000 of the 5s may
be issued for extensions and betterments. Int. at Brown Bros. & Co.. Phila,
ALBANY SOUTHERN RR.-Third rail. except in cities.
1st M.
bonds
redeemable
are
ORGANIZATION.-Incorporated in New York Sept. 14 1909 and
on any int. date, the 4s at 105 and the 5sThe
at 110. Of
is
a
reorganization of the Albany & Hudson RR. Co. sold under foreclosure on the consols. $2,500,000 4s were outstanding, but $2,146,000 have been exSept. g 1909 (per plan V. 89. p. 223). On Sept. 18 1909 merged Albany & changed for ref. & imp. bonds. Int. on consol. bonds is payable at comGreenbush Bridge Co. V. 89, p. 720. Franchises are perpetual. Does a pany's office or at office of Brown Bros. & Co., Philadelphia. These bonds
passenger, freight and express business and supplies light and power are not subject to call. Of the $15.000.000 ref. & improv. bonds $5,000.000
are reserved to retire 1st M. bonds; $569,000 for consol. mtge. bonds
along route.
to take up bonds shown in
STOCK AND BONDS- Date.
and rest for bonds previously
Interest. Outstanding. Maturity. ($354,000
taken up): $3.331.000 for improvementstable
Common $1,375,000 (2100)_
and $101,000
$1.375,000
general purposes
Of the amount reported outstanding. $881.000 are in for
Prof $2,100,000 5% n-c ($1.00) 2.029,000 Aug'11.4% red.
F-A
Bonds are
at 105 and int. on or before June 1 1920. and 110treasury.
First mortgage $1,500,000 1909
and Int. thereafter.
1.500.000 Sept 1 1039 V. 92,
5 g M-S
p.
187;
V.
94,
p.
698,
982;
gold ($1,000)
V. 95, p. 750. Int. is payable in AllenCs tt Bankers Trust Co., New York. Trustee.
town
Bonds.-Recording tax paid, making them tax-exempt in New York. Sink. the or at office of Brown Bros. & Co., Philadelphia. Bonds are listed on
Philadelphia Stock Exchange. The collateral trust notes
fund of 13.4% of bonds authorized from 1917'to 1921; 1922 to 1928, 2%; redeemable
of 1923 are
at par and interest on any interest day.
1929 to 1938-, 3%. Callable as a whole at 106 and int. on any hit. day.
Lehigh Valley Lt. & P. bonds are subject to call on any int. date
V. 89, p 1140.
at 105
and
interest.
V.
97,
p.
365.
semi-annua div. on pref.. 134%, paid Feb. 1
Dividends.-Inittal div. on pref.. 1%. paid Nov. 10 1911.
1911. Aug.. M %; none since.
In 1912.
1913 and 1914, 2%. In 1915, 334%. In 1916,
REPORT.-For year ending June 30 (1916 report in V. 103, p. 575):
5%.
In
1917,
Feb.,
13.4%, May, 1j%. Total accumulated divs., 1434%. V.
Year end.
Interest,
Gross
Net (after
Balance,
101, P. 1465.
Passengers
EARNINGS.-For yrs. end. Nov.30 (1916 report in V.104,
June 30- Earnings.
Rentals.&c. Surplus.
Taxes).
Carried. Fiscal
p.
253,
268):
1916
Operating
$95.217
$146,996
Net after Other
$526,663
Interest,
$51,779
Preferred
1.475,423
Balance,
Year. Revenues. Taxes. Income. Rents,&c. Dividends.
11)15
91.719
502.775
44,973
1.452,739 1915-16
Surplus.
ROAD.-Operated by third-rail
6 2system from Albany via Rensselaer
-$2,471,872
$953,761
$145,210
$630,494 (5%)$248,983 $219,494
Hudson. Comprises 37 miles of main line and 9 miles of sidings, withto
2 1914-15 _ 2,056.875 852.489 136.145 665,246 (3%) 174.288 149.100
additional miles of overhead trolley road in Hudson. Total, 61 miles
of 1913-14 - 1,869.006 718.351 122,948 633,178 (2%) 99.593 108.528
track. In Feb.1900 made contract giving it privilege to enter Albany
ROAD.-Operates 162.S2 miles of railway, of which 150.64 miles
the tracks of the United Traction of Albany. Double-tracking of roadover
owned
be- and 12.18 miles leased. The road connects Allentown,
Bethlehem, South
tween Rensselaer and Kinderhook Lake completed in 1910. Operates
19 Bethlehem, Hellertown, Nazareth, Siegfried, Copley, Catasauqua, Egypt.
passenger cars,6 freight and 2 express cars,2 snow-plows and 2 electric locoEmaus,
Macungie,
Slatington.
Quakertown,
Perkasie,
Lansdale,
steel;
motives. Rails 70 and 80-lb.
Norrisstandard gauge.
owns the high- town, Ambler and Philadelphia. 80 and 95-lb. T and
way toll bridge over Hudson River at Albany and a Also
and 116 lb.
amusement park girder rails. Owns a large amusement park about midway 96
between Allenat Kinderhook Lake. On June 30 1916 had 2.405 large
electric and 2,536- gas town and Bethlehem. Owns 165 passenger cars. 14
freight and 30 service
customers. An extension to Troy is under consideratio
n.
cars. A 2,650-foot bridge between Allentown and South Allentown was
OFFICERS.-Pres., William Loeb Jr.; V.-P.,
Richard Sutro;
nd built by the controlled Allentown Bridge Co. (auth. stock $3300,000) and
Treas., Irvin W. Day; V.-P. and Gen. Mgr., James
E.
was formally opened Nov. 14 1913. See V.97. D. 1426. 1428; V.98.
Hewes.
-V.
Soc.a
99,
p.
1832; . 101, p. 845. 1010; V. 103, p. 575.
p. 154.
OFFICERS.-Chmn. of Bd.. Col. H. 0. Trexler: Pres.. Harrison
R.
Fehr: V.-P., E. M.Young;Sec. and Treas.. Chas. N. Wagner;
And.,C. M.
Walter.-V. 104, p. 253, 268, 663, 764, 1146, 1591,1902.
ALBIA, IOWA.
(1) Easton Consolidated Electric.
ALBIA LIGHT & RAILWAY CO.
ORGANIZATION.-Incorp. in Delaware June
In April 1913 the Leiigh Valley Transit Co. acquired a controlling in1916 as a reorganization terest
in the stock and has since acquired all stock except (24) directors
of the Southern Iowa R. & Light Co. as per plan in V. 103,
p.
939.
Does
the light, heat, power, railway and gas business of Albla, Hocking, Hite- shares. V. 96, p. 1021.
Dividend payments were: July 1900. 334% on $10 paid in; Sept. 1901
man and community, serving a population of 20,000. Franchises expire
and March and Sept. 1902.3% on $15 Paid in; March 1903 (pale in
in 1942.
July)
STOOK AND BONDS- Date.
Interest. Outstanding, Maturity. and Sept. 1903, 4% on $16 paid in. In Dec. 1905 declared a dividend
of
42 50 and at same time called an assessment of $5 per share on the stock;
Corn stock $400,000 (2100)$400
000
the dividend was credited on the assessment, maldng the stock 50% pain
Pf6% non-cum$100,000 ($1O).
in.
1001.00 In 1916,6% V.81.
dividends
Cash
1791.
p.
resumea
in
1st M $500,000 gold ($1,0001 1916 5 g J-J
Oct.
1906
with the payment of
250,000
1941
23. %. V.83,p.687; 2%
c&r_ctot1 Int. at Empire Trust Co.,
34 again paid April! 1907 and 234% Oct. 1 1907;
and $1001
N.
trustee.
then dividends were passed until
1911, when 2% was paid.
Bonds.-Remaining bonds are for extensions and additions.Y.,No
1912
sinking and 1913,4%; in 1914May.2%.Nov.
Beginning with June 1914 beganIn
fund and not subject to call.
paying
1-3 of 1% monthly (jr, 99, p. 300). Dividends no longer reported,
Earnings.-Year ending Dec. 31 1916. gross, $76,722; net, after
as
taxes entire stock is owned by Lehigh Valley Transit
and insurance, $32,706; int. on bonds, $12,500; prof.
Co.
divs. (6%), $6,000:
surplus, $14,206.
ORGANIZATION.-Consolidation by stock ownership of
the
Easton
ROAD.-Operates 11 miles of street railway connecting
Hocking, Albia Transit Co.. the Edison Illuminating Co. of Easton, and the Phillipsburg
and Hiteman. 60 and 70-lb. T rail; standard gauge.
(N. J.) Horse Car RR. Co. (name changed to Phillipsburg Transit Co.).
OFFICERS.-Pres.Albert L. Fowle; V.-P., Merle
Incorporated
in
Jersey
New
March
R.
11
Walker;
1899.
Owns
all the stock of the
S. Leland, all of 61 'Broadway, N. Y. City; Treas. &
Penn. Motor Co.
Sec.,A
Gen. Mgr., Ralph
W. Boyor, Albia.-V. 103. p. 939.
Consolidation of Subsidiaries.-On Jan. 8 1908 the (old) Easton Transit
Co., the Easton & Bethlehem Transit Co.. the Easton Palmer
& Bethlehem
Street By. and the Northampton Central Street Ry. were merged
into the
ALLENTOWN, PA.
(new) Easton Transit Co.(V. 85. p. 1461) and in 1909
the Easton & South
LEHIGH VALLEY TRANSIT CO.-A trolley road. (See map on
Bethlehem
Trans.
Co.
was
also
merged
the (new) Easton Transit Co.
Change in Control.-Under date of Feb. 7 1917 the owners of more v.4.) Stock. $2,150,000,• all owned by EastonInto
Consolidated Elec.
than a
majority of the co's stock agreed to sell their shares
For decision of the Northampton County Court at Easton,
the Elec. Bond &
Pa.. on Dec.
Share Co. for cash at the rate of $28 for each share of to
common and $48 per 28 1914 favorable to the Edison Illuminating Co.(a subsidiary), see Lehigh
share of pref. Remaining stockholders were given the
right to deposit Valley Transit Co.In V. 100. p. 140.
their shares under the agreement. Depositary, Girard Trust
Co., Phila.
STOOK AND BONDS.-The collateral trust 5s were in Jan. 1900 listed
As of April 12 1917 $3,302,350 prof. and $2,250,500 common stock
had been on the Philadelphia Stock Exchange.
deposited, deposit receipts for which have been listed
on the Phila. Stock
Date.
Interest. Outstanding.
Exchange. Time for deposit has been extended to 90
days
from May 7 Stock $1.500,000 (par 350)_ _Stock(50% paid in)all owned by L.Maturity.
1917. V._104, p. 764, 1591. Compare V. 104, P. 663.
V.T.00.
Collateral trust $1,300,000 g 1899 5 g M-N $1,237.000 May
ORGANIZATION.-Incorp. in Pa. on Nov. 3 1905
1 1949
is a reorganize(21,000 and $500)_
c*tf ilnterest at Girard Trust Co.. Phila.,trustee.
don under foreclosure of the Lehigh Valley Traction and
Co. the Philadel- Pennsylvania Motor Co 1st 1891 6 A-0
60.000 Apr 1 1941
phia & Lehigh Valley Traction Co., the Allentown & Slatington
(cannot
mort.
be
called)
and
tf
the
Lack.
Tr.
Dep.
co.,
Scranton.
&
Safe
Copley Egypt & Ironton Street Ry.. as per plan in V. 79. p. 733,
trustee
1462. Eas Palmer & Beth 1st gold 1899 5 34
In Oct. 1911 purchased the Montgomery Trac. Co.(V. 93,
200,000 Jan 1 1919
S200,000,cannotbeealledntf Int. at U.S. Mtg. & Tr.
940), all of
Co.. N.'Y., trustee.
whose bonds and stock are deposited under the Lehigh Valley p.
Eas&So
Transit
Beth
Tr
1st
M
ref.
&
$500-I
1906
5
g
432.000
Imp. mtge.of 1910: reconstruction of Mont. Trac.
1 1936
000 guar gold ($1,000)c*tfIGIrard Trust Co.. Philadelphia. July
Dec. 12 1912.
cutting down running time between Allentown and completed
trustee.
Philadelphia (City Hall)
Bonds -The coll, bonds have no s. f, and are not subject to call.
from 434 to 234 hours. An 8-mile cut-off on this division
Of the
was
total
completed
of
41.300.000.
360.000
in
reserved
Ls
to
retire
the
1914 and the running time between Allentown and
Motor bonds,
69th St. Terminal. $2,000 in treas. and $1,000 reserved for small amt. ofPenn.
Philadelphia, Is now 1 hour and 58 minutes.
outstanding
scrip
of
Ed. Ill. Co. Issue is secured by pledge of $2.150.000 stock (entire issue) of
In April 1913 purchased controlling interest in stock of
Easton Consoli- (new) Easton Transit Co.. 12.317 shares (entire issue)
dated Electric Co.(V.96, p. 1022). On June 20 1913
of Edison Illurn.
shareholders
author- stock and 2,400 shares (the entire issue) of Penn. Motor stock. Int. on
ized an issue of collateral notes to pay for the purchase.
V. 96. p. 1489. Easton & So. Beth. Transit bonds is payable at office of Edw.
1772. Also has half interest in Norristown Transit Co.
B. Smith &
Franchises ]aerpet. Co.. Phila., or at company's office. They are guar. p.& I. by endorsement
On Dec. 31 1915 purchased the franchises and property
of the Quaker- by the Easton Consol. Elec. A sinking fund of 35,000 o. a. commenced
town Trac. Co. (formerly leased) for the sum of $1 and
the
June
concellation
$44.000
11908;
have
been
of
retired.
Bonds
Indebtedness
are subject to call at 105 and
, all of which was owned by the Lehigh van, Transit Co.
its
int V 83. p. 323.
Under agreement made in July 1907 the Lehigh Valley
REPORT.-For calendar yeane
Transit has its
Philadelphia terminal in the Philadelphia
Rapid
Transit
Calendar
station
Gross
Earn.
at
Net
Chestnut
Inc.
Net
Inc.
Hill. V. 85, p. 99. Late in 1912 made a contract for
Total E. Band Int. Divs. Balance,
express service with
Year- -Railway Dept.- Ed.Ill.Co. Con.El. Tax.,&c. Paid.
Adams Express Co. Conducts
through freight service between Allentown 1916
$653,262 $206,160 $18,803 $224.963 267,545 $60,000 Surplus.
and Philadelphia.
1915
534.644
133.029 19.833 152.862 67,806 60.000 $97.418
Light and Power.-In March 1913 the Lehigh Valley Lt. &
P. Co. was 1914
475,611 126,907 24.057 150,964 67.577 69.950 25,056
organized as a consolidation of the Allentown Elec. Lt.& P.
13.437
Co.
and
numerROAD.-Embraces practically the entire street railway system of Easton
ous smaller companies, all previously owned by the Transit Co.
New corn- and West Easton. Pa..
and Philipsburg. N. J., with lines from Easton to




[Vol,. 104.

ELECTRIC RAILWAYS

4

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•

•

ELECTRIC RAILWAYS

5

Bethlehem, South Bethlehem. Nazareth, and Phillipsburg. N. J.
City bonds are subj. to call at 105 and guar., p. &I., by Ind. Un.
Trac. The
total track, 53.559 miles, all standard gauge; operates through cars from Marion City
1st M:bonds originally matured May 1 1915. but
were exEaston to Bethlehem, South Bethlehem and Allentown. 93 passenger tended to May
1 1919.
and 12 service cars.
Dividends.
-5%
was
paid
on
pref.
first
to April 1914. None since.
TV Fehr, Allentown, Pa.; Vice-P., S. H
Divs, on second pref. stock have not beenstock
paid since July 1912.
OFFICERS.-P
Hackett;
Treas., F'. A• Hazzard; Asst. Sec. & Asst. Treas., S. H.
Sec. & res..
REPORT.-For calendar year, including
Muncie-Portland line from
Sargent.-V. 97. p. 53, 301. 311; V. 98. p. 838; V. 99. p. 1300.
July 11916:
Calendar
Gross
Net (after
Other
Bond
Sinking Balance,
ALLENTOWN & READING TRACTION CO.-A trolley road.
Year- Earnings.
Taxes). Income. Int., ea.
Fund.
Surplus.
ORGANIZATION.-Incorporated April 25 1898 and leased the Allen' 1916 _ _ _$2,789,341 $1,036,910 $16,983 $865,148
$56,518
$132,227
Ry.
1915_
Street
for
years
Electric
from
290
_
__
town & Reading
June 4 1898. On
2,486,247
896,676
857,238
17,895
53,447
3,886
Passengers carried in 1916, 18,489,915, against 16,479,535
Fob. 8 1902 leased for 290 years the Kutztown & Fleetwood Street Ry.
in 1915.
ROAD.-Owns the following lines: Muncie-Anderson-Indianapoli
Controls the Kutztown Light, Heat & Power Co. Connects with United
Reading.
thus forming a through line from Allen. 56% miles; Anderson-Marion-Wabash, 53M miles; Alexandria-Elw s,
Traction Co. tracks from
oodTipton, 20 miles; Indianapolis
town to Reading.
-Kokomo-Logansport, 80 miles; KokomoBONDS.
miles; Muncie-Union city, 33 miles; Anderson
t.
trest
STOCK. AND
tstanding. Ataturife. Peru, 19
-Middletown,
9Ni miles; also 10 miles of city lines in
Stock. 5750,000 (par $50)---- -------------$250,000
Anderson; 14M miles in Marion:
5 g J-J
First mortgage, $250.000,1 1900
250,000 July 1 1930 16 miles in Muncie, and 4 miles in Elwood: total, 272 miles of interurban
g. $100,$500& $1,000-cptf Interest at Fidelity Trust Co., Phila., trustee and 443i miles of city lines. Also leases Muncie-Hartford City-Bluffton
First M Kutztown & Fleetw'd 1902
5g
200.000 Jan 1 1932 line, 42 miles; Indianapolis-Newcastle-Muncie line,62A miles, and MunciePortland line, 32 miles; grand total, 453 miles. Through
$200.000, guar p & 1_ _ _cpt
cars are run beFirst consul mtge, $750,000 1902
5 g J-.I
300,000 July 1 1932 tween Indianapolis and Fort Wayne in conjunction with the Fort Wayne &
ft ($5OO& $1,000) c & r-coy Int. at Integ. Tit. ins. & Tr. Co., Phila-trus. Nor. Ind. Trac. Co. Provides package freight service between Indianapplis
and
Muncie
Indianapolis
and
Bonds.-Of the $750,000 o now consols, $450,000 are reserved to retire
and Logansport and Peru, and to all other
prior liens. They are subject to call at par after July 1 1917; no sinking points on the system. Operates through freight service between
dianapolis and Fort Wayne. By contract until Nov. 1933 cars are Infund. The first mortgage bonds are redeemable at par
run
EARNINGS.-For year ending Dec. 31 1914, gross, $189,856; net, over tracks of Indianapolis Street Ry. in Indianapolis. Carries express
matter per contract with Wells, Fargo Express Co. A
$68.536; int. disc., &c.. 552.788; surplus. $15.748.
central
ROAD.-Nerates 39.60 miles main line, 7.50 miles sidings-total, power station, with necessary storage batteries, at Anderson,large
operated on
a three-phase system, with 19 sub-stations, likewise equipped with
47.10 miles; 4. cars.
storage
OFFICE RS.-Pres.. IT. E. Ahrens, Reading: V.-P., NV. D. Mohn; Sec.. batteries, operates entire system.
Hamburg;
Treas..
Hoffman,
Geo.
EQUIPMENT.-Jan. 11917, 95 city cars, 53 suburban, 93 Interurban.
B. Shaffer. Reading; Supt , W. J.
B. K.
30 freight and 89 service cars; total. 360.
Bear. Kutztown.-V.81.p. 1492: V. 82. p. 216.
OFFICERS.-Pres., A. W. Brady, Anderson; V.-P., Philip
Marion. Sec. & Treas., Wm. H. Fors° Jr., Anderson. General Matter.
offices.
ALLIANCE, OHIO.
Anderson, Ind.-V. 102, p. 977, 1158, 2344; V. 104, p. 1046.
STARK ELECTRIC RR.-An electric railroad.
(1) Indianapolis Newcastle & Eastern Traction Co.
ORGANIZATION.-Incorporated in Ohio and is a consolidation in Dec.
Leased to Union Traction Co. of Indiana on Oct. 25 1912 for 999 years.
1902 of the Alliance Electric Ry.and the Stark Electric Ely.
The lease provides for the payment of all taxes,
interest on bonds, a sum
STOCK AND BONDS.
Date.
Interest. Outstanding. Maturity. equivalent to 5% on the pref. stock, and a definite annual payment of
on the corn. stock. A further amount, up to $10,420 a year, is
Stock, $1,500,000 ($100) _ _
51.250.000 Apr.'17, 1% $1,050
Q-J
payable
under
certain
First mtge. $1,000.000, gold f 1903
conditions. Compare V. 100, p. 975.
5 g J-J
855.000 Jan. 1 1928
Leases the Muncie & Portland Traction Co. for 999
(51.000) sinking fund. call-{ Citizens' Say. & Tr. Co., Cleveland, trustee.
years from June 30
able at 105
c tf(Int. at United Bank & Say.
Cleveland. 1916; see terms below.
Bonds -sinking fund of 1% per annum from Jan. 1 1911Co..
ORGANIZATION.-Incorp. in Indiana on June 10 1912 as successor to
to Jan. 1 1915
and 2% per annum thereafter. $115.000 have been retired.
the Indianapolis Newcastle & Toledo
Ry., sold at foreclosure. Has
Dividends.-First div., 4%,paid July 1908: 4% paid cluar. to and incl. private right-of-way minimum widthElec.
66 ft., except in corporate limits,
Jan. 1916. In April 1916, 1%; same rate quer. since. In April 1910 also where shortest franchise expires Apr. 7
1933. Under favorable contract
a stock dividend of 25%. V. 90, p. 448. 700.
with Ind. Trac. & Term. Co. extending to 1933. operates through city
into
Indianapolis interurban terminal.
EARNINGS.-For years ending Dec. 31:
YearDivs.
Gross.
Net.
STOCK AND BONDS- Date.
Int.& Taxes.
Surplus.
Interest. Outstanding. Maturity.
1916
$350,900
$50,000
$160,426
$65,446
$44,980 Common $500,000 ($100)_--$500,000 See text.
1915
37,500
313,524
144,815
62.552
44,763 Prof $500,000 5% cum
500.000 See text.
ROAD.-Operates 34 miles of track from Canton to Salem, including First mtge $1,500,000($100)gold 1,1912 6 g J-D
1,200.000 June 1 1919
Alliance City lines. Standard gauge. 67 and 70-1b. T rails and 70 and
31.000 _
e*tf Int. at Fidelity' Trust Co., Phila., Trustee.
90-1b. girder rails. Total mileage, including double track, 36 miles. An
Bonds.-Of remaining 1st Si. bonds, $100,000 may be Issued upon fulextension from Alliance to Marlborough and Now Baltimore and eventually filment of certain covenants and balance
for 75% of cost of extensions,
to Akron is being constructed, line partly graded.
impts., betterments or acquLsition of unencumbered properties. Red. as a
OFFICERS.-Pres.. C. R. Morley, Cleveland; V.-P., David Morison
whole (but not less) on any int. date on 8 weeks' notice at 1013i and int.
Soc., E. S. Cook; Treas., J. M. Blatt; Aud., 0. K. Ayers; Gen. Mgr.,: V. 94, p. 1695. No sinking fund.
F. L. Mowry.-V.86. p. 1468; V. 90, p. 448, 700. 1171; V. 102, p. 977. •
ROAD.-Included in Union Traction Co. of Indiana.-V. 94, p. 1565.
1626, 1695; V. 96. p. 135; V. 100, p. 982; V. 102, p. 2341.
(a) The Muncie & Portland Traction.-A trolley road.
AMSTERDAM, N. Y,
ORGANIZATION.-Incorporated July 1905 in Indiana. Franchises in
FONDA JOHNSTOWN & GLOVERSVILLE RAILROAD CO.
- cities and towns 50 years; in counties perpetual.
Steam and electric road. See stateniont in "Railway & Industrial Sec."
Lease.-Was leased as of June 30 1916 for 999 years to the Indianapolis
Newcastle & Eastern Trac. Co. In connection therewith the co.'s capitalization was changed from $1,000,000 stock, all of one class, to $500,000
ANDERSON, IND.
preferred and $500,000 common. The lease provides for the payment of
all taxes, a sum equal to 5% on the pref. stock, a definite annual payment
UNION TRACTION CO. OF INDIANA.-A trolley road.
ORGANIZATION.-Incorp. on May 13 1912 aa a
consolidation of the of $4,530 and the payment of a further amount up to $17,370 a year conold Union Traction Co. of Indiana (Incorp. May 28 1903) and the Indiana tingent upon certain conditions.
Union Trac. Co.(incorp. June 9 1903), per plan in V. 04, p. 1119. 1185: V.
OFFICERS.-Pres., E. B. Ball; V.-P., W. C. Ball; Sec.. G. A. Ball;
95, . 819; and as a result of which capital was materially reduced. The
Treas., F. C. Ball, all of Muncie, Ind.; Asst. Sec., W. H. Forse Jr., Anderlegality of the consolidation was upheld in a decision by the Supreme son, Ind.-V. 82, p. 1438; V. 102, p. 2342.
Court of Indiana in the fall of 1915. The Indiana Union Traction Co.
had previously acquired the Indiana Northern Traction Co. (V. Si,
p.
1848), Muncie & Union City Traction Co. (V. 83, p. 96)
ANNISTON, ALA.
and Muncie
Hartf. & Ft. W. Ely. (V. 82, p. 805, 869. 1041). The latter company
was
ANNISTON ELECTRIC & GAS CO.
Indiana
Union
the
Trac. at a rental (in addition to
leased to
operating
exp. Int. on bonds, &c.), equivalent t05% on Mun.
Merged
in
March
1915
with the Alabama Power Co., a subsidiary of the
Rant'. & Ft. W. Ry. Alabama Trac., Lt. & Pow.
Co., for statement of which see our "Ry. &
$500..000 cum. pref. stock: V.83. p.96. The old Union Trac. Co.
of Indiana Industrial Section."
was a consolidation of the Union Trac. Co.of Indiana (incorp. in June
1899).
and the Indianapolis Northern Trac. Co. (incorp. in April 1902). Leases
the Broad Ripple Natatorium Co. and owns $9,500 of its 5% bonds.
ASBURY PARK, N. J.
Also owns the 3100,000 ist M.6s outstanding and $49.500 of
the $50.000
ATLANTIC COAST ELECTRIC RV.-Trolley.
stock of the Traction Light & Power Co, and $75,000
of
the
capital
stock
ORGANIZATI
-Incorporated
ON.
in New Jersey on Dec. 8 1905 as sucinterest)
the
of
one-fourth
United Tractions Coal Co., which owns
(a
and cessor to the Atlantic Coast Electric Railroad Co., sold
under foreclosure of
leases valuable coal lands to insure the co. an adequate coal supply. (See
the general mortgage of the latter. Leases the Seashore Electric Ry. of
Shirley Realty Co. of Ind. in V. 101, p. 1805.)
The Indianaoolis Northern Traction assumed payment of the prin. and Asbury Park until June 6 1937 at $10,000 per year and owns $150,1300 of the
int. of half 4200,000) of the bonds of the Broad Ripple Traction Co. (see $200,000 total capital stock of that company (making net rental 32.500).
and owns all of the stock of the West End & Long Branch Ry. and of the
under Indianapolis).
Leases Indianapolis Newcastle & Eastern Trac. Co. for 999 years from Asbury Park & Sea Girt RR.; the former is leased from Aug. 3 1896 until
Oct. 25 1912. Lease modified in 1914 and com. and prof. stocks of the July 17 1945 at a nominal rental, and the latter for 99 years at 6% on stock
Ind. Now. & E. Trac. Co. formerly held were transferred in satisfaction from Aug. 27 1898; both stock and bonds of Asb. Park & 8. G. are owned.
of obligations incurred in leasing that company and acquiring that stock, Also entire stock ($100,000) of the Atlantic Coast Electric Light Co., which
supplies the electric lights of Asbury Park, Allenhurst, Belmar, Ocean
and in building the Muncie-Newcastle line, and in consideration of further
advances for improving power facilities for that line, a total of about Beach, Como and Spring Lake. The Seacoast Trac. Co.(capital $100.000).
$521,000 (V. 100, p. 975). Lease again modified as of Juno 30 1918 in running from Belmar to Spring Lake. 2 miles, has been leased to the Atlantic
Coast Elec. Ry. for 99 years; its stock and bonds are owned. Franchise in
connection with the lease of the Muncie & Portland Traction Co.
to the Belmar expires in 1947; in Asbury Park in 1937;
Ind. Noise. & Eastern Trac. Co., which see below.
in Long Branch, some expire in 1045 and others are perpetual; in Ocean Township. perpetual; in Sea
STOOK AND BONDS.
Date.
Interest, Outstanding. Maturity
Girt,expire in 1926 and 19.56:franchises of Seacoast Trac. Co.are perpetual.
Common, $5,000,000
Deciston.-On Dec. 1 1916 the Supremo Court at Trenton set aside an
__ --- $5.000,000 _..
. __
1st pref. 31,000.000, 5% cumA-0
1,000,000
See text order of the Board of P. U. Comm. requiring the company to give transfers
2d pref, 53,000.000 (see text).
.,
J4 10
3,000.000
See text in Asbury Park and Bradley 13each, holding that the utility board cannot
Ind Un Traction tat M 55.-1 1
03 5 g A-0
1,620.000 July 1 1933 violate a contract between the company and the city by imposing addi000,000 ($1.000) gold__ tf f interest at Girard Trust Co., Phila..
trustee. tional burdens or lowering rates, unless the company consents.
s g j_j
Union Tr Co of Ind tat gonMI 1899
4.606,000 July 1 1919
$5.000,0008($1,000)c&r*tfjEquitable Tr.
STOCK AND BONDS- Dale.
Interest. Outstanding. Maturity.
Co.. New York, trustee
Stock $1,000,000 (3100)
Collateral notes
1914
6%
$1.000.000
See text
50,000 Sept 1 1917 First mortgage
$1,000
gold
1895
Citizens' St Ely (Mun) list M 1897 6 g J-D
5 M-N
800,000 May 1945
54.500
Dec 1 1927
000
ntf Int. at Columbia Trust Co., N. Y., Trustee.
$250,000 a f sub to call 105_ Intermit at Guar. Trust & Safe Deposit
Co.
es
General
mortgage
31.000,0001
1906
5 g J-J
1.000,000 July 1 1945
($500 and $1,000)
Philadelphia, trustee.
gold ($1,000)
ctf Interest at Central Trust Co., N.Y.,Trustee.
Marlon City 1st M 5400,000 1895 6 g NI-N
328,000 May 1 1919 Seashore
Electric Ry stock
ctf Equitable Trust Co., New
5
200.000
gold ($1,000)
York,
trustee.
Seashore
Electric
Trac
Ry firsti 1892
1st 1902
s g j_j
Indianapolis North
6 g J-J
200,000 Jan. 1.1918
5,000,000 July 1 1932
mtge 35.000,000 g ($1,000) Equitable Trust
mortgage 5200.000
Mint.at Seacoast Nat. Bk..Asbury Park, N.J.
Co., New York, trustee.
Atlantic Coast Electric Light{ ____
5 J-D
guar p & I by Un Trace* tf
196.000 June 1 1945
first mortgage $500,000lint. at Asbury Park & Ocean Grove Bank,
Indiana North Trac let mtge1 1903
5 g A-0
500.000 Oct 1 1933
gold
Asb. Pk. Morton Tr. Co.. N.Y., Trustee.
ntf
$500,000 gold ($100, $500 Interest at Trenton (N. .1.) Trust & Safe
Neptune
Electric
Co
tf
es
_
Deporit Co., trustee.
and $1,000) guar
6%
40,000
Bonds.-Of the $1,000,000 1st 5s. $200,000 are reserved to retire a like
M II & Ft W prof stock cum- -- -5%
500,000
See text amount
Seashore Ely. Os. The latter are subject to call at 105. They
do do
first mtge 31,- 1905
5 g J-J
928,000 Jan 1 1935 fell due of
originally
in
Jan.
1917
but were extended to Jan. 1918. Entire
00000(3 gold ($1,000)_c* tf Int. at Guard. Say.&'rr. Co.,Clev., trustee.
bonds ($50,000)
stock ($100,000) of the Asbury Park & Sea Girt and
Muncie & Un 0 M 3925,000 1906
5 g J-J
925,000 July 1 1936 entire bonds andand
stock of the Seacoast Traction Co. ($100,000 each) are
guar gold ($1.000) ,._..c. tf lint. at Fidelity Trust Co.,
trustee.
Phila..
deposited
the
under
new general mortgage.
Broad RippleNatatoriumlstM ---5 M-S
40,500 Mar 1 19:31
Dividends.-In 1906 and 1907,6%. In 1908 to 1916, 3%; none since.
Stock.-Divs. on 2d pref. stock are cum. from 1% semi-annually
in
1913. scaling upward to 3% semi-annually in July 1918 and
ROAD.-Belt line in Asbury Park, 5.85 miles; Asbury Park to Pleasure
thereafter.
Bonds.-Of the Ind. U. Trac. bonds Of 1003, $3,380,000 were
reserved Bay and North Long Branch. 14.60 miles; Asbury Park to Manasquan.
for extens. and !moo., but under terms of consolidation
agreement of 1912 14.16 miles: total track, 36.08 miles. Connects at Pleasure Bay with the
these bonds have been canceled. $385,000 are held alive in
the
sinking
fund. Now York & Long Branch Steamboat Co
Sinking fund, 14% per annum of outstanding
bonds, became
REPORT.-Yeara ending Dec. 31:
on July 1 1904. Fund is to be invested in the bonds at not aboveoperative
and
105
1916.
1915.
1914.
1913.
1912.
1911.
int., and bonds may be drawn at 105 and int. on any int. date.
Remaining Gross earnings_5420,708 $409,007 $428,763 $437,856 $427,883 $422,755
Union Trac. Co. or Ind. gen. M. bonds are reserved for underlying
bonds. Oper.expenses__ 273,299 255,872 248,953 236,783 225,683 216,014
See V. 71, n. 1013. Bonds are listed on Phila. Stock Exch. The Indiana
Northern Trae. bonds are subject to call at 105 and int, on six weeks'
notice.
Net earnings
They are guar. p,_& I. by Ind. Un. Trac. Co. V. 82,,p. 805.
'['he Muncie
from oper_$147.409 $153.135 $179,810 $201,073 3202,200 $206,741
Hartford & Ft. Wayne bonds can be called Jan. 1 192o, or after,
at par. A
In 1916 misc. income $1,214;fixed charges, $129,005;surplus,$19,618.
sinking fund on those bonds of 2b% of gross earns, per ann. began
OFFICERS.-Pros., S. F. Hazeirigg; Sec. & Treas., G. B. Cade; Supt.,
1
1905. Soo V.80, p. 1059. 572,000 have been retired. ThelMun.& July
Union C. E. Hereth.-V. 81. p. 974, 1435, 1722.




ELECTR C RAILWAYS

6
ASHTABULA, OHIO.

ASHTABULA RAPID TRANSIT CO.
In Feb. 1907 control of this road was acquired by L. A. Robison, Pres.
of the Penn. & Ohio Ry., and associates.
ORGANIZATION.-Chartered Oct. 7 1890.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date,
$500,000
Stock, $500,000
75,000 Juli-1 1921
g J-J
6
gold
1891
I
$75,000,
1st mtge,
($1,000)
c*&r lint. at Central Trust Co., Trustee, N. Y. U.
307,000 Sept 15 1927
1907 5 M-S
2d mtge. $500,000
Citizens S. & T. Co. Cleveland, trustee.
Bonds.-$75,000 2d mtge. ends are reserved for prior liens. 1st M.
bonds originally matured July 1 1911 but were extended 10 years to July 1
1921.
EARNINGS.-Year ending Dec. 311916, gross, $100,194; not, $32,720.
In 1915, gross, $80,711; net, $22,733.
ROAD.-Operates Smiles of track on 554 miles of street.
OFFICERS.-Pres., L. A. Robison, Pittsburgh; Sec. & Treas., Wyn B.
Morris, Pittsburgh; Gen. Supt., Palmer Wardman, Ashtabula. V.85.p.468:
V. 98, 1:.• 761.
PENNSYLVANIA $c OHIO R Y.-A trolley road.
The same interests control the Ashtabula Rapid Transit Co.
ORGANIZATION.-Incorporated March 17 1898.
. Maturity
Interest. Out
STOOK AND BONDS- Date.
$1.300,000
Stock ($100). 81.600,000 auth.
600.000 Mar 15 1921
First mtge, $600,000, gold. 1901
5 g M-S
c* Int. at Citizens' Say.& Tr. Co., Cloy. Tres.
$500 each
15 1922
100,000 Mar '
5 g M-S
Jefferson Division ($500). 1902
Int. at Citizens' Say. & Tr. Co.. Clev., Trus.
$100.000
EARNINGS.-For calendar year 1916, gross, $119.576; net, $37,328.
In 1915, gross, $126,704; not, $55,889.
ROAD.-Owns and operates the Conneaut city line, 3 miles, and has
built westward from Conneaut to Kingsville & Ashtabula, 13 miles, and
south from Ashtabula to Jefferson, 10 miles; total, 20 miles.
OFFICERS.-Pres., L. A. Robison, Pittsburgh; Sec. & Treas., W. B.
Morris, Pittsburgh; Gen. Sept.. Palmer Wardman. Office at Ashtabula
-V.82. p. 929. 987.

ATLANTA, GA.

[VoL. 104.

the Georgia Electric Light Co. and the Atlanta Steam Co. Franchise
for the greater part perpetual; others 50 years from August 1899. Comprises the street railway, electric-light, gas, power and steam-heating
interests of Atlanta and Fulton County. Uses power supplied by the
Atlanta Water & Electric Power Co. from the latter's plant at Bull
Sluice on the Chattahoochee River. 15 miles from Atlanta-see V. 79. p•
153. 2149 By terms of the ordinance permitting consolidation,the company paid the city of Atlanta $50,000 in cash, and agreed to pay a tax on
gross receipts of 1% for first 3 years, 2% for the next 20 years and 3%
thereafter. V. 74, p. 397, 727. Has contract with the city for street lighting for 5 years from April 1 1913. In Oct. 1902 both pref. and corn, stock
were listed on Boston Stock Exch. V. 75, P. 849. They are also listed on
the Louisville Exchange.
In June 1903 acquired the entire capital stock ($600,000 6% pref. and
$1,014,625 corn.) of the Atlanta Gas Light Co., comprising the gas business
of Atlanta and vicinity, by exchange of stock, $ for S. V. 76, P. 1406.
The gas company, however, maintains a separate organization. Also owns
entire capital stock of the Atlanta Nortbern Ry.
On Jan. 24 1917 the RR. Comm. approved the issue of $283,000 ref. &
impt. 5s, representing 75% of capital outlays total approved, $4,477.000.
Interest. Outstanding. Maturity'
STOCK AND BONDS- Date.
See text
$8,514,600
Q-F
Common ($100)
See text
2,400,000
5 Q-J
Preferred 5% non-cumulative
$2,400,000 (par $100)
4,282,000 Jan 1 1949
Ref & imp mtge $20,000,000 1909 5 g J-3
c'j Int. at Amer. Trust Co., Boston, Trustee.
gold ($1,000)
5,810,000 Jan 1 1932
5 g J-J
First cons mtge $11.000,000 1902
gold sink fund ($1,000)...c5 Int. at Old Colony Trust Co., Boston, Trus.
225,000 July 1 1930
Atlanta Street Railroad first 1890 6 g J-J
mortgage gold (par $1,000) Int. payable in N. Y. at Fourth Nat. Bank.
Central Trust Co., N. Y., Trustee.
1,925,000 Jan 1 1939
AU Cons St By 1st consM32.- 1899
5 g J-J
500,000 g($1.000each).._c* Int. payable in N. Y.at N. Y. Trust Co. and
at Mere. Tr.& Dep. Co. of Bait.. Trustee.
1,350,000 July 1 1930
Georgia Elec Light Co 1st M 1900
5g
$2,000,000, gold,subject to Interest at Old Colony Trust Co., Boston.
c*
Trustee.
call at 105
1.150,000 June 1 1947
5 g J-13
Atlanta Gas-Light Co, 1st M 1897
$1,150,000. g ($1,000) c* Interest at New York Trust Co., Trustee, or
Bank of Scotland. London, Eng.
Bonds.-Of the $11,000,000 Georgia Railway & Electric Company bonds
(closed mtge.) of 1902, $3,500,000 are reserved to retire underlying liens;
balance has been retired. Red. on any int. date at 110 and int. A
sinking fund became operative in 1907 which retires $10,000 of bonds
each year from 1907 to 1911, inclusive; $25,000 per annum from 1912 to
1916, inclusive, and $50,000 per annum thereafter. See V. 74. p. 029, 727.
A sinking fund of $6 60 per $1,000 bond on the Atlanta Gas Lt. Co. bonds
is operative; $231,000 bonds in fund. Ati. Consol. St. By. bonds are red.
as a whole at 10734, but $25,000 in Jan. of each year for sinking fund at
at 105. Of the ref. & impt. mtge. bonds, 811,230,000 are reserved to retire
prior liens (including the $100,000 Atlanta & Northern bonds) and remainder for extensions and improvements up to 75% of actual cost. Bonds
are subject to call on 50 days' notice at 105 and int.; a sinking fund of
1% of bonds out began in 1910.
Dividends.-Dividends are now paid under lease (see above). For record
of dividends paid prior to lease, see this section for January 1917.
EARNINGS.-Included in report of Georgia Ry.& Power Co. above.
ROAD.-Owns 210.555 miles of track (single-track basis). 70. 80 and
90-lb. rails. 357 passentrer and 22 other cars. 2 power stations.
OFFICERS.-Pres., Frank E. Block; V.-P.. T. IC. Glenn; Sec. & Treas..
W. H. Wright.-V.98, p. 304, 386; V. 99, p. 1528; V. 100. p. 733.
(a) Atlanta Northern Railway Co.-A trolley road.
ORGANIZATION.-Entire stock is owned by the Georgia Railway &
Electric Co., which guarantees the bonds.
Interest. Outstanding. Maturity,
Date.
STOCK AND BONDS$100,000
Stock,$100,000
400,000 July 1 1954
5 g J-J
First mortgage $400,000 guarl 1904
($500 and $1,000) gold_ _c*fInt. at Old Colony Tr. Co., Boston, Trustee.
Bonds.-Are guar.. p. & i., by end., by the Ga. By.& Elec. Co. Are subject to call on any int. date at 110 and int. A sink,fund of $5.000 per ann.
began in 1909; $47.000 bonds are held alive in sink. fund.V . 79, p. 680,
EARNINGS.-For years ending Dec. 31:
Taxes. Int., ctc. Balance.
Gross.
Net.
Year8126,207 827,932 $5,528 $27,503 def.$5,099
1916
def. 4,471
--31,748-27,277
122,634
1915
30,970 --30,869- stir. 101
133,422
1914
miles,
to
15.2
Marietta,
ROAD.-Operates 18 miles of track from Atlanta
which are owned and mostly on private right of way. Has arrangements
of
city
the
rights
trackage
into
and
terminals
for
with Ga. By. & El. Co.
Atlanta. Standard gauge; 7 cars. Commenced operation July 17 1905.
V.79, p. 680.

GEORGIA RAILWAY & POWER CO.ORGANIZATION.-Incorp. In Georgia on Oct. 16 1911 to take over
the following properties (V. 93, p. 1191, 1725):
Inter-State Power Co.
Atlanta Hydro-Elec. Power Co.
Savannah River Power Co.
Atlanta Water & Elec. Power Co.
South Carolina Power Co.
Georgia Power Co.
In June 1916 purchased the Gainesville By. & Power Co. (see p. 45 of
"El. By. Section" for May 1916) for about $180,000. V. 103, p. 144.
In Jan. 1917 the company acquired all the interests of the Franklin Light &
Power Co., Broad River Power Co. and the J. B. McCrary Co. at Hartwell, Ga.
Also leases the Georgia Railway & Electric Co. (see below).
It Is planned to construct and operate in connection with the development of the water powers a system of interurban railways.
In June 1912 Judge Pendleton in the Superior Court sustained a demurrer
to the suit brought to have the company declared a trust in violation of the
Anti-Trust law. V 94, p. 1763. An appeal was taken to the Supreme
Court but in Jan. 1913 the suit was withdrawn. V. 96. P. 285.
In a suit brought by the Attorney-General of Georgia in Nov. 1912 to
eject the company from certain property at Tallulah Falls, where a large
power-plant has been constructed, a jury in the Rabun County Superior
Olourt at Clayton, Ga.,in May 1913 gave a verdict in favor of the company.
The Supreme Court of Georgia on Dec. 13 1913 affirmed the decision of
the lower Court. V. 95. p. 1472. 1541: V. 96. p. 1629; V. 97, p.1822.
Accumulated Dividends -On Jan. 15 1917 paid a cash dividend of
3% on the 1st prof. stock on account of accumulations aggregating 24%.
The company planned to pay the remaining 21% in non-interest-bearing
notes but the 12R. Comm. of Georgia withheld its approval of the issuance
of such notes, necessitating the formulation ofsome other method. V. 104
p. 1382.
On Jan. 24 1917 the RR. Comm. sanctioned the issue of $459,000 1st &
ref. 5s on account of improvements, additions and acquisitions; total approved, $13,500,000.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$15,000,000
Common,$15,000,000 ($100)See text
2,000,000
1st pf$2,000,000 6% cum($100)
10,000,000
2d pf$10,000.000 4%n-c(3100)
11,697,500 Apr 1 1954
5 g A-0
1st ec ref mtge $30,000,000 gl 1914
See text sinking fund___c*JInt. at Fidelity Tr. Co.. Phila., Trustee.
314,100
Debentures
236,500 See text
Blue Ridge Elec 1st Mt 1910 5 J-J
c*fInt. at Columbia Trust Co., Trustee.
$1,370,000 g ($500)
ATLANTIC CITY, N. J.
200,000 Oct 1 1921
5 A-0
Savannah Rly Pow Co 1st M_ 1911
1.400,000 Jan 1 1943
5 J-J
Atian Wat & El P 1st Ml 1903
ATLANTIC CITY & SHORE CO.
Trustee.
Y.,
N.
Co.,
Trust
at
Int.
Columbia
(31,000)__c*cptf
(closed) g
ORGANIZATION.-Incorporated in 1909 in Delaware. Owns 2,995 of
Stock.-After the 2d pref. and common stocks have both received 4% the 3,000 shares of the Atlantic & Suburban Ry. Co. stock and a majority
per annum for 3 successive years. the 2d pref. stock becomes corn. stock.
the stocks of the Central Passenger By. Co.($10,000 bonds) and Atlantic
of
are
bonds,
mtge.
$11,917,000
ref.
&
1st
$30,000,000
the
Bonds.-Of
& Shore RR. Co. Also owns all of the $591.100 outstanding 1st mtge.
reserved to retire prior liens, and balance is for future additions, &c., City
bonds of Atlantic & Suburban By.
under protective restrictions. Of the amount reported outstanding, $9,500
Interest. Outstanding. Maturity.
on
int.
April
Date.
1
to
1919
AND BONDSand
STOCK
at
call
10234
to
are held in treasury. Subj.
$995,500
1923. and thereafter at 105 and int. after 56 days' notice. Bonds are Stock, $1,000,000
See text
591,100
sinking
4%
Annual
fund
1910
dates.
tt
$591,100
Coll
trust,
and
rates
same
at
fund
sinking
for
callable
& Sub. let mtge.
Att.
$591,100
by
secured
are
4s
trust
1928.
to
The
collateral
$100.000;
payments are as follows: 1919 to 1924, $75.000; 1925
They fall
1929 to 1953. $125,000. Coupon bonds $1,000 or £205 15s. 3d. and $500 bonds and 2,995 out of 3,000 shares of stock of that company.
or £102 17s. 7d. The Blue Ridge Electric Company First Mortgage due Feb. 1 1928 or Feb. 1 1940.
OFFICERS.-Pres., Harry E. Kohn; Sec.. L. R. Isenthal; Tress..
bonds mature on July 1 1940, but through an agreement made by the
Georgia Power Co. and assumed by the Georgia Ry. & Pow. Co., effective I. L. Stone.
bonds
Ridge
Blue
Oct. 11916, the latter has purchased $363,500 "stamped"
(1) Atlantic City & Shore RR.-An electric road.
(out of a total amount outstanding of $1,100,000) and issued 1st & ref. 5s
Default-Receiver.-Int. duo Dec. 1 1915 was defaulted, due largely to
to help provide the necessary funds. Of the remaining $236,500 Blue lasses caused by jitney buses. Judge Clarence L. Colo was appointed reRidge bonds, $82,500 are "stamped" and provision has been made to take ceiver. The following bondholders' committee was organized: Geo. Burnthem up as presented. Soo V. 94, p. 1383. Columbia Trust Co. is trustee ham Jr., Frank H. Bachman, Tilghman Johnson and John McIlhenny.
of Savannah River Power Co. 1st M. The $350,000 ref. 5s, duo Oct. 1 V. 101. p. 1884.
1941, were called for payment at par and int. on April 11917. The Atlanta
ORGANIZATIOpT.-Incorporated in New Jersey Oct. 21 1905 with a
Water & Elec. Power bonds are subj. to call at 105. The issue was origincharter. Leases Atlantic City & Ocean City Rit.-see terms
ally for $1,500,000 but has been closed at $1,400,000. Sinking fund Jan. 1 perpetual
owns $218.500 of the common stock of the Atlantic City &
below-and
until
maturity,
1908 to Jan. 1 1917, incl.. $5,000 per snnum; thereafter
Company, which holds all the stock and bonds of the Atlantic
City
Ocean
$10.000 per annum. See V. 102. p. 1540. $62.000 in sinking fund.
& Ocean City RR. V.85. p. 158. Cent, Pass. By. Is operated under
City
the
on
1913
20
Jan.
paid
share
was
per
Dividends.-An initial div. of $4 70
traffic agreement.
let pref. stock, covering the 9 2-5 months since it was issued (March 1912)•
Contract with West Jersey tit Sea Shore RR.-An agreement has been
In Jan. 1917 paid 3% on account of accumulations. In April 1917 paid entered into with the West Jersey & Sea Shore RR. by which the
above).
remarks
(see
accum.
of
134% regular and Yi% extra on account
Atlantic Ave. line of the latter road, running from Atlantic City to Longport, 834 miles, is operated by this company. The West Jersey & Sea
REPORT.-Of combined properties (1916 report in V. 101, p. 1382):
Other Int., Rentals, Balance, Shore RR. has an option to purchase until May 1 1918 a majority of
Net (after
Gross
Calendar
Income. Sk. Pds.. c*.c. Surplus. the Atlantic City & Shore RR. stock. V. 85, P. 158.
Taxes).
Earnings.
Year$6,985,709 $3,076,929 $120,359 $2,383,681 $813,607
1916
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
2,378,742 492,174 Stock,
75.340
2,795,576
6,507,657
1915
31.000,000
$1,000,000 ($100)5 g J-13
950,000 Dec 1 1945
PROPERTY.-Total miles single track, 234,718. Standard gauge. 1st mtge & coil trust deed) 1905
70, 80 and 90-lb. rails. Owns water power sites in Northeastern Georgia
$1,000,000 ($1,000) g-c*ttfInt. at Girard Trust Co., Phila., Trustee.
at
any
called
developat 110 and int.
present
time
p.;
h.
over
of
547,100
be
can
sinking
development
fund,
but
Bonds.-No
capable of an ultimate
ment, 160,800 h. p. Transmission and distributing lines aggregate 616.82
ROAD.-Operates 47.45 miles of track in and around Atlantic City, inmiles. The interurban line from Atlanta to Stone Mtn. was completed in cluding a road through Pleasantville, Linwood and Somers Point, to Ocean
Nov. 1913. The hydro-elec. plant at Tallulah Falls was placed in operation City, the latter two points being connected by 2 miles of trestle and bridge
April 11914.
owned by the Atlantic City & Ocean City RR.
OFFICERS.-Chair. of Board, H. M. Atkinson; Pres., P. S. Arkwright;
EARNINGS.---For cal. year 1915, gross, $452,678; deficit after deduct& Sec., W. it. Glenn:
V.-P. & Gon. Mgr., G. W. Brine; V.-P., Oper.
Jr.; Aud.. II. Flynn, all of ing taxes, rentals, and int., $00,128. In 1914, gross, 8032.728: net, after
Asst. Sec., Paul D. Reid; Treas., I. S. MitchellMgr..
and rentals, $66,392; int.. $47,500; surplus, $18,892. No earnings
taxes
1489.
1382.
72.
764,
p.
256,
559,
104,
V.
Atlanta.-V. 103. p. 144;
published since appointment of receiver.
(1) Georgia Railway & Electric Co.
I. II. Silverman; V.-P., Charles Evans; See., J. M.
OFFICERS.-Pres.,
Lease.-On Jan. 30 1912 the stockholders of the Georgia Ry. & Elec. Co. Campbell; Treas., I. L. Stone; Gen. Supt., A. .J. Purinton.-V. 86. P•
approved the 999-year lease from Jan. 1 1912 to the Georgia By. & Power 1099; V. 88. p. 685; V. 90, p. 1424; V. 101, p. 1806, 1884.
Olo.. which provides that the latter company guarantee all the fixed charges
(a) Atlantic City & Ocean City Company.
and dive. on pref. stock and divs. of 8% on corn, stock, the holder of each
The Atlantic City & Ocean City Company was organized in Delaware
$100 com.having received, OA additional consideration for the lease,$.1.1234
owns the entire ($180,000) stock and all the ($180,000) bonds of the
and
94,
&
V.
fly.
Power
Co..
Georgia
of
In 1st pref. and $125 in 2d pref. stock
& Ocean City RR., and has pledged them AA security for the
p. 982. 1119. The shares of the Atlanta Gas Light Co. and of the Atlanta Atlantic City
trust bonds below. Of the common stock of the Atlantic City &
collateral
lease,
demised
the
under
premises
the
in
included
not
are
By.
Northern
$218,500 is owned by the Atl. City & Shore RR. The
Company,
City
Ocean
but the lessor assigned and transferred to the lessee, for and during the term
latter leases the Atl. City & Ocean City RR. for 999 years, the rental beof the lease, the income arising from any and all of the said shares.
per
and an additional contingent sum equal to 33 1-3%
annum,
$19,500
ing
1
on
April
on
and
28
Jan.
1902,
Georgia
ORGANIZATION.-Incorp. In
annum.
1902 took over the Atlanta By. & Power Co., the Atlanta Rap. Tran Co.. of the net surplus, but not to exceed $25,000 per




ELECTRIC RAILWAYS

MAY,1917.1

•

•

STOOK AND BONDS- Date. Interest. Outstanding. Maturity.
$220,000
Common,$350,000---------175,000
Pref 5% non-cum $250,000--350,000 Mar 1 1947
Collateral trust gold 3500,-1 1907 5 M-S
000 redeemable 110 & int tfjGirard Trust Co., Philadelphia, Trustee.
Stock.-The pref. stock is redeemable at par.
ROAD.-The Atlantic City & Ocean City RR. owns 2.61 miles of road
from Somers Point, across Great Egg Harbor Bay, on bridge and trestles.
to Ocean City. Rails, 85 lbs. V•85 13. 158; V. 87. p. 165.
OFFICERS.-Pres., Penrose Fleisher Sec., J. M. Campbell; Treas..
Irvin L. Stone.
Ry.
(2) Atlantic & Suburban
ORGANIZATION.-Incorporated in New Jersey Dec. 7 1908 as a reorganization of the Atlantic City & Suburban Traction Co.. sold under foreclosure of 1st mtge. V. 87. P. 1237. 1532.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
5150,000
Stock,$750,000($50)591,100 Aug 1 1929
First mortgage. $650,000 1909 4 g F-A
c*tf Int. at Cambridge Tr. Co., Chester, Pa., Tr.
($1.000)
5%
100,000 Feb 1 1925
Prior lien M,$100,000, guar ____
by A C3 & S Co--- tt
p
Bonds.-Bonds have no sinking fund. V.87. p. 1237.
EARNINGS.-For calendar year 1916, gross, $85,951; net,$23,983. In
1915, gross, $80,197; net, $21,069; other income, $3,132; taxes & int.,
$34,875; deficit, $10,674.
ROAD.-Operates 16.13 miles of track from Atlantic City to Pleasantville, Somers Point and Absecon. Standard gauge, 80-1b. rail.
OFFICERS.-Pres. Harry E. Kohn; Sec., J. M. Campbell; Treas.,
Irvin L. Stone.-v,gi, p. 1299, 1532: V.88. p. 881; V. 90, p. 1424.

AUGUSTA, GA.

7
BAKERSFIELD, CAL.

•

SAN JOAQUIN LIGHT & POWER CORP.
ORGANIZATION.-Incorporated in California in July 1910 as a consolidation of the San Joaquin Light & Power Co.. the Power Transit & Light
Co. (Bakersfield) and the Merced Falls Gas & Electric Co. Absorbed the
Selma Water Works. Madera Water Works, Madera Lt.& Pow. Co.. Lemmore Lt. & Power Corp. and Bakersfield Gas & Elec. Lt. Co. controls
through stock ownership the Tule River Co., having plants on the Tule
River, Cal. The Midland Counties Public Service Corporation (V. 98,
p. 1849), controlled in same interest, purchases all of its power from the
San Joaquin Lt. & P. Corporation. Franchises in cities are perpetual;
outside of cities, with two exceptions, extend beyond 1950. About onehalf the total length of transmission lines is on private right of way. Supplies electricity for lighting, power and pumping purposes throughout the
San Joaquin Valley,including the cities of Merced, Madera, Fresno, Selma
Hanford, Bakersfield, Sanger, Dinuba and about 50 towns and small cities;
distributes gas in Bakersfield, Kern, Merced and Selma; operates a street
railway system in Bakersfield and Kern, and furnishes water for domestic
purposes in Selma and Madera.
te
STOCK AND BONDSOutstanding. Maturity.
Common $15,000,000 ($100)-- ------------- $11,000,000
Prof.$10.000,000($100)6%cum. ___ Q-J 15
6.500,000 See text.
Cony debs gold Series A 1917 6 g M-N
1,000,000 May 1 1927
$4,500,000 ($1,000)_c*cpt Int. payable in Los Angeles or New York.
1st & ref mtge $25,000.000 g 1910 5-6 F-A
6,676,000 Aug 1 1950
($1,000) sink fund_c*&r*tf Equit. Tr. Co., N. Y., true.; int. in N. Y.
2.588,000 June 1 1945
San Joaquin L & P Co 1st M 1905 5 J-D
$3.000,0008 f(31,000)c*ntf(Redeemable at 110 and interest.
92,000
San Joaquin l'ower Co ___ntf _--- 5%
1942
86,000 June 1 1933
Power Trans & Lt M $2,500-). 1903 5 g J-D
tfj Mercantile Trust Co.. San Francisco, trustee
000 gold (31.000)
47010 July 1 1931
Bakersfield & Kern Elm Ry1 _1901 5 g J-J
$250,000 gold (31.000) ___I Union Trust Co.. San Francisco, trustee.
10.000 Periodically
Bakersfield Gas & Mee Lt mtg ___ _ 6 F-A 15
Stock.-Capital stock cannot be increased without assent of three-fourths
of stock of both classes.
Bonds.-Of the 1st & ref. bonds of 1910 reported outstanding,$1.470.000
are Series A 6s; $915,000 are Series B. bearing 5% and $2.009.000 are
Series B,bearing67
0,and $2,282,000 are Series C 6s(V. 100, p.738). $3,010,000 1st & ref. M. bonds are reserved to retire prior liens (incl. $186,000
held in or for sinking funds) and remaining $15,284,000 bonds may b
issued at not exceeding 6% int. for add'ns, impts., &c., at 85% of cost
under certain restrictions. Series A callable at 10234, others at 105.
First and refunding M.contains sinking fund provisions calling for payments
of $145,000 annually (to be used partly for betterments and additions and
partly for redemption of bonds, Series A. bonds having preference over other
series) from 1915-1919, $150,000 annually from 1920-1924 and ranging
thereafter from 2%% annually of bonds out from August 1925-1930,incl.,
to 4%% annually from Aug. 1945-1949, incl. V. 91, p. 1332. $30,000
Ser. A bonds have been retired. By a supplementary mtge., holders of
Ser. B 5s may exchange them for Ser. B 6s upon payment of $10 per bond.
The debentures are red. all or part at any time prior to May 1 1922 at 102
and int. and thereafter at 101 and int. The entire proceeds of the debentures will be used for add'ns and impts. only. Under the trust agreement
the co. covenants that no further underlying bonds are to be issued; that
no further mortgage than existed at May 1 1917 be made; that debentures
outstanding and floating debt will not at any time exceed $4,800,000, and
that no diva. be paid stockholders in excess of present rate when floating
debt exceeds $300,000. Provision for conversion into 6% cum. pref. stock
will be made. Security Trust & Savings Bank,trustee. V. 104, p. 1903.
Dividends.-Paid 43% on pref. stock in 1911 and 1912; in 1913. 6%;In
1914, 367
0; none since.
REPORT.-For calendar years (report for 1916 in V. 104, p. 1587):
Net
Charges
Balance,
Calendar
Gross
Expenses
Surplus.
Income.
(Net).
YearIncome.
& Taxes.
31,838,464 $736,977 $1,101,487 $491,437 $610,050
1916
1,093,202 518,740 574,462
1915
1,779,832 686,630
PROPERTY.-The co. owns power plants with 57,600 h.p.; operates
729 miles of high-tension transmission lines, 33 sub-stations and 2,030 mile
of distributing lines. Reservoir capacity, 50,000 acre feet. 88.5 miles
of gas mains. Operates 10.51 miles street railway track in Bakersfield,
supplemented by automobile bus lines.
OFFICERS.-Pres., W. G. Kerckhoff; V.-P., A. C. Balch; Sec., L. M.
Farnham; Treas. & Comp.. A.E.Peat; Gen. Mgr., A. G. Wishon.-V. 102.
p. 801, 2343; V. 103, p. 321; V. 104, n. 769, 1587, 1596, 1903.

AUGUSTA-AIKEN RY. & ELEC. CORPORATION.
ORGANIZATION.-Chartered in March 1906 under laws of South
Carolina as Augusta & Columbia Ry. Co.; name changed to above in April
1911 and is a consolidation of the following companies:
I Augusta By. & Elec. Co.
Augusta-Aiken Ry. & Elec. Co.
I North Augusta Elec. & Impt. Co
Augusta & Aiken Ry. Co.
Owns and operates entire railway systems of Augusta, Ga., and North
Augusta, S. C., and a line from Augusta to Aiken, S. C. Also furnishes
entire electric light and power service in Augusta and its suburbs and owns
valuable real estate in central part of Augusta. Railway franchise in
Augusta expires 1939; electric-lighting franchise runs until 1939 or longer.
Interurban division is on private right of way. V.92. p. 1177. Also owns
the $500,000 corn. stock of Georgia-Carolina Pow. Co., incorp. in So. Caro.
to construct the hydro-elec. plant on Savannah River, which was placed in
operation Feb. 6 1914 with an initial installation of 14,000 h. p.. ultimate
capacity about 28,000 h. p. Operation of this plant was•taken over by the
Augusta-Aiken Ry.& El. Corp. on July 1 1914. The company guarantees
prin. and int. and sink, fund on the Ga.-Carolina Pow. Co. 1st M.5s.
Early in the fall of 1916 disposed of its holdings in the North Augusta Hotel
Co. and North Augusta Land Co.
On June 23 1915 the stockholders authorized an increase in the 6% cum.
pref. stock from $1,500,000 to $2,250,000. the new stock being issued in
exchange for the $750.000 pref. stock of the Georgia-Carolina Invest. Co.
(a holding co. formerly controlling the Ga.-Caro. Power Co.). which has
been dissolv.ed. V. 100, p. 1830; V. 101. p.283.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
--- text.
$2.250,000
Common 32,250.000 ($100)
- 2. 5 .
Pref6% cum 32.250,000($100
Q-M
3.124,000
Dec
1 1935
First mtg $7,500,000 gold 1910 5 g 3-D
920mo
Ycrok,JuT
nreusiti
et .teo.
($1,000)
c*&r*tt Central Trust Co.. New
g JD
Augusta By & Elec let M g 1900
Bait.,Tru
31,000.0()0 (31,000) -c*ntf Int. at Mer. Tr.& Dep. Co..
Ga-Caro Pow 1st M $5.000,2,750,000 July 1 1952
000 g ($500 and $1.000)- _ 1912 5 J-J
c*tf Central Trust Co.. New York, Trustee.
n
i rds.-Of the $7.500.000 1st mtge. bonds, $104,000 are in treasury.
$41,000 in sink. fd.. 3967.000 are reserved to retire Aug. Ry.& Elec. bonds
and balance is for additions, &c. Subj. to call as a whole (or in part for sink.
fd.) at 105 and int. on any int. day on 30 days' notice. Interest is payable
at Redmond & Cu.. New York. Sinking fund began in 1916 providing
for payment of 325,000 per ann. 1st 5 years, Increasing to $40.000, $50,000
of 5 years until maturity of bonds.
and $5,000 for each successive period
V. 92 p. 1177, Augusta By. & Elec, bonds can be called in 10. 20 or 30
years i'rom date at 105 and int. on 6 months' notice;sinking fund of
of 1%
BALTIMORE, MD.
began June 1 1905 for 15 years, 1% for next 10 years and 2% for remaining
Street railways of Baltimore pay a park tax offrom 1% to 9% of gross receipts
10 years. $80,000 was held in sinking fund Apr.25 1917.
from
lines
within
City
Limits,
except on turnpikes and private rights of way,and
The Ga.-Caro. Pow. bonds are subj. to call as a whole, or in part for
sk. fd. at 105 and int. $67,000 are in treasury. Sk. fd. beginning with are required to pave between tracks and two feet on each side.
CO. OF BALTIMORE.-Trolley
RAILWAYS
&
ELECTRIC
UNITED
retire
all
sufficient
to
the
be
will
bonds
1918
at maturity. They are guar..
ORGANIZATION.-Incorporated at Annapolis March 4 1899. Comp., 1. & s. f., by Aug.-Aiken Ry. & Elec. Corp. V. 95. p. 179.
Dividends.-InIttai dividend on preferred-1%%-ptud Dec. 30 1911. prises all the passenger railways in Baltimore City and Baltimore County
and lines extend into Anne Arundel County and Howard County. Through
same rate quarterly to and incl. June 1914. None since.
the present and previous consolidations, embraces the following:
REPORT.-For ,vear ending Dec. 31:
Catonsville & Ellicotts Central Railway Co.
Gross (All Net after Int. on Co. Int. on
Calendar
Other Balance, „ Baltimore
Gwynn's Falls Railway of Baltimore
Mills Passenger RR.
Sources). Taxes.
YearBonds. Sub.Co.Bds. Int.
Surplus.
City.
$838,456 $406,735 $195,492 $137.500 $15,682 $58,061 Baltimore City Passenger By. Co.
1916
By.
Co.
Maryland Traction.
Baltimore
Consolidated
351,735
732,99'
197,667
1915
137,500
13,402
3,167
& Curtis Bay Ry.
Pimlico & Pikesville RR.
ROAD.-Owns and operates 53.2 miles of track, of which 28.92 miles Baltimore
& Belair Elec. Ry. Shore Line Electric By.
and 24.28 miles interurban between Augusta and Aiken, 60 Bait. Gardensville
are city lines
to
& Northern Elec Ry. Co. Waibrook Gwynn-Oak & Powhatan.
100-lb. T rails. standard gauge. Owns Lake View Park on Lake Baltimore
Also owns all the stock, and holds a lease of the Baltimore Sparrows
Olmstead.
OFFICERS.-Pres..F.Q.Brown: V.-P., J. If Pardee and J. K.Choate; Point & Chesapeake Ry. Co.
Company.-In Aug.1906 the Maryland Elec.Ry., which had agreed
Sec. and Treas., D. II. Thomas; Mgrs., J. G. White Mgt. Corp.-V. 100: to Allied
provide funds for needed improvements and acquisitions of the United
p. 228. 1830; V. 101, p. 283; V. 103, P. 318; V. 104. p. 1898.
Ry. & Elec. Co.. was consolidated with the Bait. & Annapolis Short Line,
thus forming the Maryland Elec. Rys. See statement of that co. below.
Power Contract.-In Feb. 1911 entered into a 15-year contract with PennAUSTIN, TEX.
Water & Power Co. for supplying power in conjunction with
sylvania
AUSTIN STREET RY.-A trolley road.
United Railways Co. for operation of cars. V. 92, p. 467.
in
-Incorporated
Texas
on Jan. 3 1911 as successor
ORGANIZATION.
Favorable
Tax Decision.-On June 29 1909 the Court of Appeals of Maryto the Austin Electric By. Franchise expires in 1942.
land held that the park tax of 9% on gross earnings of lines within city
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity. limits was intended to be in lieu of all other taxes, and that no further tax
Common $750,000 (3100)
on the'intangible property can be levied without express legislative author$560,000 See text.
ity. The easements in 14 miles of turnpikes in annexed districts were held
Pref $500,000 ($100)6% n-c
250,000 See text.
to be taxable. V. 89. p. 44.
First & ref mtg 31,500,0001 1911 5 g J-J
786,000
Jan
1
1936
In April 1913 Judge Bond in the City Court at Baltimore decided that the
gold (31,000)- ----c*tf(Int. at Equitable Trust Co., N. Y., trustee
Bonds.-$714.00(11st & ref. bonds are reserved for additions, &c. They company must pay cost of repaving streets between tracks and 2 ft. on
are subject to call on any int. date at 102%. Annual sinking fund of 2% either side. See V. 96. p. 1090. On Aug. 5 1913, the Court of Appeals of
began in 1915. V. 92. p. 185: V• 93. p. 1461.
Maryland reversed the ruling and unanimously held that company's oblia bonds out-Prior
to 1915 paid 6% on pref. and 4% on common stock. gation with respect to the track area was to repair and not to re-pave. In
Dividends.
Fob. 1916 the same court again held that co. is required merely to keep
No later information.
its tracks in repair.
EARNINGS.-For years ending Dec. 31:
Net.
Int. & Tax. Sink. Fund. Surplus.
Gross.
In June 1914 the Maryland Court of Appeals, reversing the lower Court.
Year$106,020
3269,094
$51,717
1916
$15,783
$38,520 held that the State Roads Commission cannot recover from the electric
82,407
240,177
railway
companies the cost of changing and re-locating tracks in building
51,554
1915
16,112
14,741
ROAD.-Operates 20.95 miles of track. 55 and 72-lb. rails; 41 cars. the system of State highways. V. 98, D. 1995.
Wage Increase.-V. 103, p. 1413.
OFFICERS.-Pres. W. J. Jones; V.P., P. II. Watriss: Sec., A. L. KaiDate. Interest. Outstanding. Div.or Mat.
STOOK AND BONDSloch; Asst. Sec., G.P.'Gannett. Augusta, Me.; Treas., E. P. Wilmot: Asst.
Common,$24,000,000 ($50)
4 Q-J $20.461,200 Apr,'17,1%
Treas., G. E. Macomber, Augusta, Me.-V• 93. p. 526. 1461. 1531.
4 J-D
23,000 Dec.'16.
Pref. cum. $14,000,000 ($50)
Inc mtge, g, $14,000,000, 1899 4 g J-D
13,977,000
1949
cum, tax free. Maryland Payable at option of co. after March 11949.
AYER, MASS.
Sons,
at
Alex.
Brown
dc
Baltimore.
Tr
C
o.
($1,000)
_c*tf
Int.
True
STREET
Mt.-A trolley road.
LOWELL & FITCHBURG
26,450,000 Mar 1 1949
In 1913 W. W. Sargent, President of the Fitchburg & Leominster Street 1st con mtge. g, $38,000,0001 1899 4 g M-S
($1,000); Continental Tr Interest at Alex. Brown & Sons, Baltimore.
Ry., and associates acquired control.
Co,
Baltimore,
Trus__c*tt
ORGANIZATION.-Incorporated in Massachusetts in 1903.
3.920,000 June 1 1936
Income fdg bonds(3100.3500!1906 5 J-D
STOCK AND BONDS- Date. Interest. Outstanding, Maturity.
& $1,000), $3,920,000_cntf Maryland Trust Co., Trustee.
Stock $275,000 ($100)------$275,000 See"earns" Gold notes, $2,750,000 (31,-f 1916 5 F-A
2,750,000 Feb. 1 1921
First mtge (see text) goldf 1906 5 g
275,000 Jan 1 1926
000) red, all or part, at 101 Int. at Alex. Brown & Sons, Baltimore.
$1,000) no sinking fund.._1Subject to call at 105 and interest.
& int. on 30 days notice c*tf Safe Deposit & Tr. Co., Bait., Trustee.
Bonds.-First mtge. was originally for $1,000,000, but has been closed
UNDERLYING SECURITIES.
at $275.000.
Baltimore Traction-lst ($1.- 1889 5 M-N
1.500,000 Nov 1 1929
EARNTNGS.-For year ending June 30 1916, gross, $56,084; net, after
000) mtge Trustee Mercan Interest at Merchants'-Mechanics' First
taxes, $20,079; other income, $1,678; interest, $13,750; divs., $2,750; surtile Tr & Deposit Co_cntf Nat. Bank, Baltimore.
$5,257.
plus,
N B Div 1st ($1,000) 5s. g; 1892 5 g J-D
1,750,000 June 1 1942
ROAD.-Operates 14 miles between North Chelmsford, a suburb of
TrusMerTr&DepCo.cntf Int. at Merch.-Mech. First Nat. Bk,Bait.
Lowell, and the village of Ayer, with a spur running from North Chelms- City & Suburban fly Bonds- 1892 5 g J-D
3,000,000 June 1 1922
ford to Westford; connects at North Chelmsford with Bay State St. By.
1st mtge. g ($1,000) -__-tf Int. at Alex. Brown & Sons, Baltimore.
and at Ayer with Fitchburg & Leominster St. BY. Has 7 passenger
Safe Deposit & Trust Co., Balt., Trustee.
cars, 1 snow plow and 2 other cars.
Lake Roland Elevated-let 1892 5 g M-S
1,000,000 Sept 1 1942
OFFICERS.-Pres.. W. W. Sargent; V.-P..0. F Baker; Sec. & Treas..
consol
mortgage. gold Interest at Alex. Brown 3c Sons, Baltimore.
R. N. Wallis, all of Fitchburg, Mass.
Baltimore Trust Co., Trustee.
c*Scr tf
• ($1,000)

g




8

[VoL. 10)4.

ELECTRIC RAILWAYS

STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
700,000 May 1 1932
Central Ry-Consol mortgage( 1892 5 g M-N
$700.000. gold ($1.000)ntflInt. at Merch.-Mech. First Nat. Bk., Bait.
Mercantile Tr.& Dep.Co. of Bait., Trustee.
600,000 Mar 1 1932
Ext and imp 1st mtge. 1897 5 g M-S
Trustee.
3600.000. ($1,000)_ ntf Baltimore Trust Co., Baltimore,
Int. at Merch.-Mech.First Nat. Bk., Bait.
Stock.-The preferred stock reported above as outstanding is all that
remains of the original issue of $14,000,000, the rest having been converted
into income bonds. Com. stock listed on Baltimore and Philadelphia
Stock Exchanges. V. 96. p. 1631: V. 97, p. 667.
Bonds.--Of the $38,000,000 of 1st consol. bonds $29,450,000 have been
issued (of which $3,000,000 are in treasury);$8.550,000set aside to retire underlying securities. Income funding bonds are red. on any int. date at par
and accrued int. All bonds are listed on Bait. Stock Exchange and the
1st Consol. 4s and $14,000,000 Income 4s are listed on the Phil. Stock Exch.
$8.000 Central Ry. 1st cons. 5s are in U. Rys. & El. Co.'s treasury.
In Feb. 1916 issued $2,750,000 5% 5-yr. notes to retire the $500,000 Bait.
Catonsville & Ellicott's Mills 1st M.5s due July 1 1916 and the $1,000.000
5% coll. tr. notes due June 1 1916, called for payment Mar. 13 1916, and to
provide for certain capital impts. during the 5 years following. No new
mtge. can be created upon present property during life of notes without
giving notes equal security with bonds Issued under such new mtge. V.
102, p. 523. 610.
DIVIDENDS.-Dividends of %of 1% were paid in June 1899 and 2
in Dec. 1899,and 2% each six months after that to and including Dec. 1903,
on both the income bonds and the pref. stock, the payment on the stock
(but not on the bonds) being subject to a deduction of X of 1% for taxes.
None thereafter until June 1911, coupons being funded. On June 1 1911
aid 2% on both income bonds and pref. stock and 2% has been paid each
months since.
in
On corn. 1st div.-1%%-paid May 1912; Nov.. 13%.
m
n 1913 and since, 4% per annum.
ROAD.-Miles of track,410.2; cars,2.001: gauge,5ft.4% inch. Rails,
70-lb. T and 9-in. and 124%-lb. girder. Capacity of (4) generating stations. 42.155 k.w.; capacity of (5) sub-stations. 38.000 k.w.
REPORT for the year ending Dec. 31 1916 in V. 104. p. 1586:
1913.
1914.
1915.
1916.
31,397,513 29,522,100 30,250,194 30,203,185
Car miles run
Revenue passengers_ _ _ _199,158,285 181,744,023 185,296,350 182,180,767
81,771,297 75,807,256 77,102,879 74,634,030
Transfers
Operating revenues.. _ _ _ $9,914,051 $9,028,144 $9,203,839 $9,046,492
_
_
Operating expenses_ _ 4,567,950 4,142,699 . 4,312,439 4,146,431
530,226
469,395
410,548
495,702
Depreciation
866,229
909,744
924,534
994,840
Taxes,licenses, &c

i

Net open. income.. _ _ _ $3,855,559 $3,550,363 $3,512,261 $3,503,606
6,945
24,721
8,333
92,000
Other income
Total net income_ _ _ _ $3,947,559 $3,558,696 $3,536,982 $3,510,551
Int. on bonds,rents, &c. $2,280,355 $2,180,248 $2,158,534 $2,159,189
559,080
559,080
559,080
559,080
Int.on income bds.(4%)
920
920
920
920
Preferred divs. (4%)_ _ _
791,362
818,448
818,448
818,448
Common dive. (4%).... _

STOCK AND BONDS- Date, Interest. Outstanding. Maturity.
$599,000 April 1 1929
Pub Wks Co,1st,gold.$800,- 1899 5 g A-0
000 ($500, $1,000)-- c*ntf Int. at Old Colony Trust Co.. Boston, True.
481,000 Sept 1 1935
Bar Har & Un R Pow Co lat & 1907 5 M-S
ref.$2,000.000($1.000)c*tf Commercial Trust Co. Phila.. Trustee.
100,000 May 1 1921
434 M-N
Bar Harbor Electric Light Co 1901
c ntf Int. at Portland Nat. Bank, Portland, Me.
$100,000($500)
1,270,000 Sept 1 1931
See text
Bangor Power Co. 1st mtge, 1911
$2,500,000 ($1,000)_ _c*tf Guaranty Trust Co., N. Y., Trustee.
60,000 July 1 1925
Orono Water Co, first snort-1905 434 J-J
gage, gold, not subject to Int. at Portland (Me.) Nat. Bank. Union
Safe Dep.& Tr. Co..Portland. Me.. True.
cntf
call ($500)
Bonds.-The first consol. bonds are subiect to call on 60 days notice at
10734 & int. on any int. date. Remaining $600,000 reserved for prior lien
bonds. Int. at office of trustee, N. Y., or Eastern Trust & Bkg. Co.,
Bangor. See particulars, bonds, property, &c., V.87, p. 1009. The Public Works Co. bonds are not subject to call; V.80, p. 2456. $1,000 retired.
$976,000 Bar Harbor & Union River Power Co. bonds have been issued, of
which $479,000 are deposited under Bangor Ry. & Elec. 1st cons. M.,
$16,000 are owned by that company and $481,000 in hands of the public. Of the remainder, $100,000 are reserved to retire the Bar Harbor
Electric Light bonds and $924,000 for extensions, &c., at 85% of cost of
same. They are guar.. p.&I.,by Bangor By.& Elec. Co.and are subject to
call at 10734 & int. on any int. date on 60 days' notice. Int. at trustee or
Merrill Tr. Co., Bangor; also at J. & W.Seligman & Co., N.Y. Trustee of
Bar Harbor Elec. Light Co. bonds is Union Safe Deposit & Trust Co.,
Portland. Me. Of Bangor Pow. Co. let M. bonds. $750,000 Series A (all
out), bore int. at 4% to Sept. 11916; bear 434% to Sept..1 1921 & 5% thereafter to maturity. Series 8 *1.750.000 auth. (int.. 5%),$520,000 issued
and outstanding, and $1,236.000 reserved for extensions. betterments. &o..
at 85% of cost of same. Int. payable at office of trustee and at office in
Bangor. Subj. to call at 105 & int. on any int. date on 60 days' notice.
No s. f. Both series assumed by Bangor By. & El. Co.
Dividends.-5% per annum paid on the old stock (all of one class) from
Oct. 1 190510 Oct. 1909, when 134% (quar.) was paid, which rate was continued to Oct. 1910. In 1911 7%. In 1911 stock was increased and new
pref. stock was created, on which 134% has been paid quar.from Jan. 1912
to and incl. Apr 1917. On common initial div. of 34% was paid May 1 1914
and 34% has been paid quar. since to and incl. May 1917.
REPORT.-For years ending Dec. 31,
Net (after Interest. Pref. Div. Balance,
Gross
Cal.
Surplus.
(7%).
&c.
Earnings. Taxes).
Year8829,988 $369,110 $214,912 $105,000 $49,198
1916
105,000 70,827
788,832 388,322 212,495
1915
ROAD.-Operates 65.91 miles of single-trcak equivalent. Rails, 48
to 90-1b. girder and T standard gauge. 58 pass. and 21 freight cars,3 gravel
cars, 7 snow-plows, 1 sprinkler and 5 misc. 3 hydro-electric plants with
14,700 h. p. capacity and 2 steam stations developing 3,000 h. p.
OFFICERS.-Pres., E. 0. Ryder; V.-P., Frank 81111man Jr.' V.-P.&
Gen. Mgr., E. M. Graham; Clerk & Treas., Howard Corning. Under
management of E. W. Clark & Co.-V.103, p. 1031; V. 104, p. 1263.

BARRE, VT.

MONTPELIER & BARRE LIGHT & POWER CO.
None
None
None
$288,756
Surplus for year
ORGANIZATION.-Incorp. in Mass. on Nov. 12 1912 and owns a conOFFICERS.-Pres., Thomas A. Cross; V.-P. & Gen. Mgr., James R. trolling
interest in the Barre & Montpelier Trac. & Power Co. Also owns
Pratt; Sec., William Early; Treas., J. T. Staub; Aud., N. E. Stubbs.- all the stock of the Consolidated Lighting Co., Vermont Power & Ltg. Co..
lilo..4...........V......... Molly's Palls Elec. Lt. & P. Co. and Waterbury Light & Power Co.
103, p. 146, 1413; V. 104. p. 164, 560, 1491, 1586.---the Vermont Supreme Court held that the
'
Fare Decision.-In Nov. 1914,
(1) Baltimore Sparrows Point & Chesapeake RY,
ORGANIZATION.-In Jan. 1903 was leased for 999 years'to the Un. Barre & Montpelier Trac. & Pow. Co. Is obliged to maintain a fare not to
Rys. & Electric Co. of Baltimore, which guarantees the bonds below, bah exceed 5 cents within the city limits of Barre and Montpelier and give
as to principal and interest, and also owns all of the stock. See V.'79, rp. transfers so long as the franchise is in force. V. 99, p. 1528.
Interest. Outstanding. Maturity.
Date.
STOOK AND BONDS.
2643. Has 33.541 m.ofsingle track,including a line 22 mileslong connecting
$1,000,000
Baltimore with the Maryland Steel Works at Sparrows' Point, and extend- Common $1,000,000($100)134
1.335.900 A
ing beyond along the shore of Chesapeake Bay, where summer resorts have Pref $3,810,000 MOO)cum- ---- 6%
424,100 OCt 1 194
been established.
1st refund mtge $2,500.000 1914 5%
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
($l00& $1,000)..__ c*&r*tf Amer. Trust Co., Boston, Trustee.
100,000 Nov 1 1917
$400,000
Stock. *2,000.000
Barre & Montp Trac let M g 1897 5 g M-N
First mtge.. $2,000,000. gold I 1903 4% g F-A 2,000,000 Feb 1 1953
8100,000 ($500 each). not Int. at American Tr. Co., Boston, trustee.
c*
($1,000) guaranteed, prin- Fidelity Trust Co., Baltimore, Trustee.
subject to call
538.000 Jan 1 1926
5 J-J
cipal and interest..-c*tf Interest at Alex, Brown & Sons, Baltimore, Consolidated Lighting Co__ __
328.000 Mar 1 1927
5 M-S
REPORT.-Operations Inc uded in United Rye. & Elec. V.10. p. 221. Vermont Power & Ltg Co____
115,000 Mar 1 1930
M-8
8
____
Co___
El
Corry-Deavitt-Frost
(2) Baltimore Halethorpe & Elkrldze Ry.
See text
100,000
5 M-N
Co_ _
ORGANIZATION.-Incorp. on Dec. 26 1905 in Maryland. Stock. Waterbury Light & Power
of 1st ret.
conversion
for
reserved
is
stock
pref.
-$2,474.100
Fidelity
Stock.
to
(ntf)
mtg.
a
made
$300,000
$100,000; outstanding. $10,000. Has
Trust Co. of Baltimore. trustee. 20-year 5% bonds, prin. and int., payable mtge. bonds.
Bonds.-The above bonds of light and power companies are assumed
not guar. by United Rye. & Elec. Co.
at Alexander Brown & Sons,
Power Co. $250,000 of the 1st ref.
of road, which is operated by United Rye. & by the Montpelier & Barre Light &option
None out. Owns 2.984 milesBalt...
into pref.stock at par on Mar.1
bonds became convertible at holders'
A ad :st .,atatiAca...4 -.1 A ...,?.ii
Elec. Co.-V.87. p. 543.,
1916. As of Dec. 31 1916 $25,900 had been so converted. $200,000 addistock at par on Mar. 1 1921.
pref.
into
convertible
CO.
become
RAILWAYS
will
bonds
tional
ELECTRIC
THE.MARYLAND
ORGANIZATION.-In 1906 the charter of the Maryland Elec. By. was Red.as a whole at 105 and int. on any int. date on 4 weeks' notice. $1,149,for
acquired by interests friendly to the United Rys. 8: Elec. for the purpose. 000 bonds are reserved to retire underlying bonds and $901,000
among others, of using that company to finance the needs of the United Rys. additions and improvements at 75% of cost. $162,000 Consol.
& Elec. Co.for additional property, and charter amended by Legislature in Ltg. Co. bonds and $72,000 Vermont Power & Ltg. Co. bonds are held in
1906 to adapt it to that purpose. In Aug. 1906 was consolidated with the sinking funds. These are not incl. in amounts shown outstanding. The
Baltimore & Annapolis Short Line, which latter line has since been electri- Waterbury Lt. & P. Co. bonds mature $6,000 yearly to Nov. 1 1921; then
fied. The Maryland Electric Rye. then acquired car-barn sites, terminals, $7,000 yearly to Nov. 1 1931.
Dividends.-A div. of $2 50 was paid on the pref. stock Apr. 1 1913,
&c., and is erecting buildings, constructing extensions, purchasing equipment, &c., which is leased to the United By. & Electric Co. for an annual covering the 5 months from date of organization on Nov. 12 1912 to April 12
rental of 6% upon the actual cost of the property. At maturity of the 1913; $1 50'paid July 15 1913 and $1 50 quar. since to and incl. Apr. 1917.
EARNINGS.-For fiscal year end. June 30 1916. gross, $377,237; net,
$8.000,000 bonds of The Maryland Elec. Rys.. the United obligates itself
to purchase the property so leased at a sum sufficient to retire the bonds. after taxes, $211,376; int., $100,658; surplus, $110,718.
ROAD.-The Barre & Montpelier Trac. & Power Co. owns 9.75 miles
See plan in full in V. 83, p. 156. There is no guaranty endorsed on bonds.
but the terms are such that rental will be more than sufficient to pay inter- of track between Barre & Montpelier. 58-lb. T rail. Gauge 4 ft. 834 in.
OFFICERS.-Ch.of Bd. of Directors.0. H. Tenney; Pres., A. B. Tenest. Stock listed on Baltimore Stock Exchange in Feb. 1908.
Interest. Outstanding. Maturity. any; 1st V.-P., D.Edgar Manson;2d V.P., II. T.Sands; Clerk, H.P.Wood:
STOCK AND BONDS- Date,
$1.200,000 July'08, 1% Trans., E. A. Bradley; Asst. Tress. and Aud„,H. A. Gidney.-V.97. p.668;
Stock. $1.200,000_ ($50)
4,489,000 Oct 1 1931 V. 99, p. 1578; V. 100. p. 144, 313, 1082; V. 103. P. 1122.
First mtge, $8,000,000, gold I 1906 5 g A-0
Co., Bait., Trustee.
Dep.
&
Tr.
($1,000), sinking fundc*tffMercantile
1.000,11•• Aug 1 1946
Baltimore & Annapolis first{ 1906 5 g F-A
BATON ROUGE, LA.
mortgage,$1.000,000--_ tf Fidelity Trust Co.. Baltimore, Trustee.
BATON ROUGE ELECTRIC CO.
Interest at Alex. Brown & Sons, Baltimore.
ORGANIZATION, &c.-Organized in Louisiana; does entire electric
Bonds.-A sinking fund of 1%% on Maryland Elec. By. let mtge. bonds
business in Baton Rouge. Railout began Mar.30 1910. Bonds are redeemable at 110 and int. on any int. railway, electric-lighting, power and gaselectric-lighting
and power 1988.
franchise expires 1940; gas 1942,
&
Alex.
Brown
of
way
office
at
payable
date upon 90 days' notice. Interest
V.88,p.881.
Sons. See V. 83. p. 818, 970.
Interest. Outstanding. Maturity.
Date.
STOOK AND BONDS.
Dividends.-First dividend (13i%) was paid in Jan. 1907 and 2% was
$300,000 Dec '16,4
Common, $500.000 ($100)_
paid July 1 1907. In 1908, Jan., 1%;July.1%; none since.
J-D
200,000 Dec '16.3%
ROAD.-Operates 25.3 miles of track from Cliffords to Annapolis, which Pref, 8250,000 ($100) 6%_ _
512,500 Feb 1 1939
5 F-A
has been converted to electricity. The co. also owns a good deal of track- let mortgage, $750,000, gold 1909
Co.. Boston.trustee
Old
at
Int.
Trust
Colony
tf
Co.
Elec.
....c5_
&
$1,000)Rys.
United
and
the
($500
age which has been built for and leased to
150,000 Apr 1 1918
6 A-0
OFFICERS.-Pres.,John Wilson Brown; V.-P. & Tress., J. N.Shanna- Gold coupon notes, $300.000, 1915
Int. at Old Colony Tr. Co.. Bost., trustee.
($500 & $1.000)
han; Sec., Austin McLanahan; Gen. Mgr., C. D. Porter.-V.85. p. 1577;
Stock.-Div.on pref. is cumulative from June 1912. Redeemable at no.
V. 86, p. 337, 1159: V. 88. p. 686; V. 98. p. 1608. 1694, 1767.
Bonds.-$7,000 bonds, not incl. in amount outstanding,are in treasury of
company; remaining bonds may be issued at not to exceed 80% of cost of
BANGOR, ME.
additions and improvements. May be called, in whole (or in part for sink.
of
fund) at 105 and int. on any int. day. Sinking fund of 1% per ann.are
BANGOR RAILWAY & ELECTRIC CO.
is
consolidaand
a
Maine
in
1905
Feb.
16
Incorp.
bonds out began Feb. 1 1914. $13,500 canceled. The 3-year notes
ORGANIZATION.tion of the Bangor Orono & Old Town Ry., Bangor Hampden & Winter- callable as a whole at par and int. on 30 days' notice.
Dividends.-On pref., 3% s.-a. from Dec. 1911 to and incl. Dec. 1916.
port Ry., Public Works Co., Old Town Electric Co., Brewer Water Co.
June 1916, 3%; Dec.,4%•
and Penobscot Water & Power Co. On Feb. 1 1907 purchased the Bangor Initial div. of 2% on corn. paid Dec. 1915. In31:
EARNINGS.-For 12 months ending Dec.
& Northern RR. V. 82, p. 333. Owns the entire capital stock of the
Gross. Net.afterTaxes. Interest, Sink. Fund Surplus.
YearBangor Power Co., the Orono Water Co. and (with the exception of one
$68,833
$5,157
$36,846
$110,836
$211,694
share) of the Bar Harbor & Union River Power Co. Owns and operates 1916
55,702
5,138
21,807
82,647
190.852
the electric railway lines in Bangor and Brewer and the lines connecting 1915
ROAD.-Operates 6.23 miles of track in form of a single bolt through
Bangor with Brewer, Hampden, Orono, Old Town, Charleston and intercapacity, 1.500 k.w.
mediate towns. Also the entire electric lighting and power business of Baton Rouge: 13 cars; standard gauge. Power station
OFFICERS.-Pres., Harry H. Hunt; V.-P., Edw. Godchaux; Bee.,
Bangor; Old Town, Milford, Bradley, East Corinth, Orono Brewer,
Hampden, Veazie, Kenduskeag and Orrington, with the exception of the Alvah K. Todd: Tress.. Henry II. Sawyer; Gen. Mgrs., Stone & Webster
municipal lighting in Bangor, and furnishes the water supply to Veazio, Mgt. Assn.; Mgr., I. Maxwell Stover.-V.84, p. 506: V.88, p. 881; V.89.
Old Town, Stillwater, Milford and Brewer. In addition to the above the p.720: V. 100, p. 1508; V. 101, p. 1806; V. 104, p. 1488.
company,through its controlled companies, does the entire electric lighting
and power business in Ellsworth, Blue Hill, Bar Harbor, Seal Harbor, &c.
BEAUMONT, TEX.
Also furnishes the water supply to Ellsworth, Orono and Bradley. PopuEASTERN TEXAS ELECTRIC CO.
lation served estimated at 60,000 (incl. controlled cos.).
ORGAN1ZATION.-Incorp.In Maine in Dec. 1911 and owns the stocks
Franchises.-Franchise for about 8 miles of track in Bangor expires in
bonds of the Beaumont Electric Light & Power Co., Port Arthur Light
1937;ifranohlse covering operation of 2 miles of track in the city of Brewer and
do the entire
& Power Co. and Port Arthur Ice & Refrigerating Co., which
expires in 1940. All others are perpetual.
and power business in Beaumont and Port Arthur and the
electric-lighting
Maturity.
Outstanding.
Interest.
Date.
BONDSAND
STOOK
and also of
city,
the
in
latter
business
refrigerating
and
nufacturing
ice-ma
Q-F
$2,000,000 May'17. 5,5%
Common,$2,000,000 4100)-an interthe Jefferson County Traction Co.. which in Dec. 1913 completed
Q-J
1,500,000 Apr '17, 1
0 cum(11101 _
Prof $1,500.000 77
and Port Arthur,a distance of 20
Beaumont
railway
between
electric
urban
1
July
1935
1,400,000
5
J-J
g
let cons M,gold, $2,000,000. 1905
bonds
11600,000
and
the
stock
of
the
entire
owns
$300,000
Also
miles.
c*tf Guaranty Trust Co.. New York, Trustee.
($500. $1M0)




0

ELECTRIC RAILWAYS

MAY, 19 7.]

V

of the Beaumont Traction Co., doing the entire electric railway business in
Beaumont. V. 96, p. 1629. Light and power franchises in Beaumont
expire in 1963; in Port Arthur in 1943; railway franchise in Beaumont expires in 1961; Interurban railway almost entirely on private right-of-way.
The notes due Dec. 1 1918 were issued to retire a like amount of 3-year
6% notes due July 11916,but called for payment Jan. 1 1916. V.101,p.1972
In Apr. 1917 sold $600,000 additional 1st M.coll. trust 5s to iorovide for
the payment of floating debt, amounting to $90,000; the installation of a
5,300 h. p. turbine at Port Arthur and the construction of a 33,000-volt
transmission line from Port Arthur to Beaumont.
Interest. Outstanding. Maturity.
STOCKS AND BONDS. Date.
$1.400,000 Jan '17, 23i
Common,32,000,000 4100)
6% J-J
1,400.000 Jan '17, 3%
Prof cum 32.000.000 ($100)..__ ____
1,640,000 Nov 1 1942
1st mortgage collateral trustj 1912 5 g M-N
gold (3500&31,000)0&r*tf Int. at State St. Tr. Co., Boston, trustee.
Coupon notes $1,000,000 gold 1915 6 g JD
500,000 Dec. 1 1918
($100.$500& $1,000)0_ tt Int. at State St. Tr. Co., Boston. trustee.
5 g A-0
Beaumont Traction 1st Mt 1903
300,000 Apr 1 1943
ant.
at
(call.
at
105)--tf
Interstate Tr. & Bank. Co., Trustee.
$600,000
Stock.-Pref. stock is callable at 110. 150.000 in treasury (in addition
to amount shown above).
the
paid
on
pref. stock. Initial div. on com.
being
Dividends.-6% is
-2%-paid July 1916. In Jan. 1917. 2%.
Bonds.-Autbortzed amount of bonds not limited. $160,000 in treasury
In addition to amount outstanding as above. Additional bonds may be
issued for 75% of cost of acquisitions, impts., add'ns, &c., under certain
restrictions. Callable as a whole (or in part for sk. fd.) at 105 and int.
Sink. fd. 1% yearly of bonds out, begin. Nov. 1 1917. Coup. bonds in do
nom. of $1.000 and $500 and reg. bonds of $5,000 and multiples. V. 95,
P. 1745. The 3-year coup. notes are red. at 100 & int. on 30 days' notice.
EARNINGS.-For 12 mos. ending Dec. 31:
Surplus.
Interest.
Gross. Exp.&Tax.
Net.
Year$826,313 $444,422 $381,891 $105,965 $275,926
1916
723.091
105,562 231,082
386,447 336,644
1915
PROPERTY AND PLANTS.-Combined capacity of power stations
at Beaumont and Port Arthur, 5,100 k.w.; power is also supplied to Port
Arthur Trac. Co. Capacity of ice plant at -Port Arthur, 75 tons per day.
Miles of equivalent single track, 29.5; trackage, 2.63, standard gauge;
32 pass. and 4 other cars. The 20-mile electric railway between Beaumont
and Port Arthur was formally opened on Dec. 15 1913. V. 97, p. 1822.
OFFICF;RS.-Pres., Marshall M. Phinney; V.-P., G. L. Weymouth;
Sec.. Hollis T. Gleason; Treas., H. B. Sawyer. Gen. Mgrs., Stone &
Webster Mgt. Assn.; Mgr., A. F. Townsend.-V.97. p. 49. 1822; V. 101,
p.1972; V. 102. P. 251, 1811, 2254; V.104, p. 1591.

BENTON HARBOR, MICH.
BENTON HARBOR-ST. JOE RAILWAY & LIGHT CO.
ORGANIZATION.-Incorporated in Michigan in Jan. 1906 and is a consolidation of the Benton Harbor & St. Joseph Electric Ry. & Light Co.
and the St. Joseph River Traction Co.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS.
8800,000
Common ($100)
400,000
See text
6 F-A
Preferred. $400,000 ($100)-_- -__
440,000 Nov 1 1939
Refund mtge *2,500,000 goldJ 1909 5 g M-N
(8500 an $1,000)
c Interest at Columbia Tr. Co., Louisv.,trust.
825.000 Nov 1 1935
let cons M,$1,000.000, gold 1906 5 g M-N
Li
e
)ou s
sve.
pttrustee.
i 1920
(8500 and 81,000)
c Int. at Columbia Tr. Co., ()
BII&SJElR &LlstM, 1900 5 gM-S
trustee
8200,000. Rol ($1.000)___ Int. at Am.Tr. & Say. Bank.
Chic., are reBonds.-Of the $1,000,000 1st consolidated bonds, $140,000
served to retire prior liens. They are subject to call on any int. day at
105. The bds. of the old co. after 1910 have a sk. fd. of 810,000 per ann.
but bonds cannot be called. See V. 71,13. 1268; V. 72.P. 282. Of the ref.
bonds,11.000.000 are reserved for prior Hens.
Dividends.-Pref. dive. at rate of6% per annum are being paid.
EARNINGS.-For year ending June 30 1916, gross, $422,097; net, after
taxes, $102,890; other income, $7,083; interest, rents, &c.. $79,914; pref.
dive., $24,0a0; surplus, $6,059.
ROAD.-Operates 10.36 miles of single track in St. Joseph and Benton
through Eau Claire to Dowagiac and
Harbor. with extensions of 25 miles
also operates 4.73 miles second track. 5.7 miles
11.33 miles to Watervliet; leased
line, making total mileage operated,60.12
sidings, &c., and 3 miles of
girder
and
Trails. 44 Passenger ann 34other cars.
miles. 60.70 and 73-1b.
OFF1cERS.-Pres., C. K. Minary. Benton Harbor. Mich.;
V.-P., Hen
ning Chambers, Louisville, Ky.; Sec., L. W.Botts, Louisville.-V.82,p.333.

BIDDEFORD, ME.

BIDDEFORD & SACO RR.-A trolley road.
ORGANIZATION.-Incorporated Feb. 19 1887.
STOCK AND BONDS
Date.
Interest. Outstanding. Maturity.
Stock ($50) $100,000
A-0
$100,000 Apr'17,5%
let mort $300,000 ($1,000)1 1900 4 g J-D
150.000 June 1 1940
gold c*. No s f but can be Interest at Fidelity Trust Co.. Portland.
tt
Me.. trustee.
called in 1920.
Dividends.-Durtng years end. June 30: 1906_, 47Q; 1907-09. 5%; 1910.
7%%(changed tc 8.-a.); 1911 and 1912.6%;
1913 and 1914.6%; 1915,8%;
1916 and 1917, 10% •
years
fiscal
-For
ending
EARNINGS.
June 30:
Net.
Gross.
Int.. dc. Dividends. Surplus.
Year820,162
874,534
1915-16
87,849
810,000
32,313
20.037
72,222
1914-15
8,116
8.000
3,921
ROAD:iil
eterates 8 miles of track between Saco. Biddeford and Old
Orchard
OFFICERS.-President, C. H. Prescott. Biddeford; Secretary and
Treasurer. E. F. Lord.-V.70. p. 1048; V.73.D. 494.

BINGHAMTON, N. y.
SCRANTON & BINGHAMTON RY,
ORGANIZATION.-Incorp. In Delaware Oct. 15 1910. Owns entire
lc of the Scranton & Bingbamton RR. and has assumed its bonds.
sto
,
The Scranton & Binghamton RR. owns 98% of the stock of the Binghamton By., the entire stock of Scranton & Binghamton Traction Co., a controlling interest in the Northern Electric By. and over one-half of the bonds
of the Northern Electric Street Ry.(whose stock is owned by the Northern
Electric Ry.). The Northern Electric Street By. is leased for 900 years
from July 1 1910 to the Scranton & Binghamton Traction Co.. which has
assumed the former's bonded debt.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $6,000,000
$6,000,00
-Scran. & Bing RR 310.000,000 1910 6 J-D
2,500,000 June 11980
6(31,000,$500 & $100)--e5 nt. at Anthracite S.Bk., Wilkes-Barre,trus.
Northern Elec St Ry 31,200.- 1907
1,200.000 June 1 1957
lInt,
at
31,000)c
Anthracite S. Bk., Wilkes-Barre,trus.
000 ($500 and
Bonds.-Scranton & Binghamton RR. bonds are callable after June 1
Elec. St. it. bonds are red. at 105 and int.
1915 at 105 and int. Northern
Sinking fund of 810,000 per annum began Dec. 1 1912.
EARNINGS.-Of the combined properties for 12 mos. ending June 30
1916, gross,$886,742; net, $348,116.
ROAD.-40 miles in operation between Scranton and Montrose, with a
branch to Lake Winola. The road as projected will extend to Binghamton, N. Y.-V. 100, p• 1833.
(1) Binghamton Railway Co.-A trolley road.
The Scranton & Binghamton RR. owns 98% of the stock.
ORGANIZATION.-Is a consolidation Sept. 30 1901 of the Binghamton
RR.Co.(chartered Aug. 11 1892 as a consolidation of all street railways in
city) and the Bing. Lestershire & Union RR. Principal franchises granted
by apecial Acts of Legislature, and are perpetual and practically exclusive.
STOOK AND BONDS- Date. Interest. Outstanding. Maturity.
4 F-A
Stock. 81.150.000 ($100)mSee text
$9'78,995
Binghamton RR co ---507.000
tge 1893 5"
See text
g
$900,000. 15_ ($1,000)_ett Int. at Metropol. Ti', Co., N. Y., Trustee.
Bing Lest & Un let M ($250,- 1895 5 g J-D
147.000 June 1 1925
000). gold, principal and Interest at Metropolitan Trust, New York
interest guar
tfi Binghamton Trust Co., Trustee.
Bing By 1st consol mtge.$2,- 1901
56 M-N
1.628,000 Nov 1 1931
500,000 gold 41.000)et,lInt, at Fidelity Trust Co., Buffalo, Trustee,
or Seaboard National Bank. New York.
Equip trust certif(890.000).- 1915
6 F-A
See text
76.000




9

Bonds.-The bonds of 1893 mature 35.000 yearly 1910 to 1917; 310.000
yearly 1918 to 1922 and balance Sept. 1 1923. Of the Binghamton By. let
consol. mtge., enough are reserved to retire underlying bonds and the remainder for acquisitions. extens., &c., under careful restrictions. They are
subject to call at 110 & int. Exempt from N. Y. State, county and municipal personal property taxes. See V. 73,13. 1312; V. 78, jp. 701; V.88. p. 748.
The equipment trust certificates of 1915 mature $5,000 semi-annually.
They are secured by 20 double-truck cars. costing 8118.503.
Diviaend,s.-2% was paid Jan. 31 1904; 2% Mar. 3 1903; 2% April 11
1904 and 2% April 10 1905. A scrip dividend of 20% was paid April 18
1905. In 1906 to 1910 incl., 2
yearly. In 1911, Sept.. 3%. In 1912
and 1913, 4%. In 1914, Feb • 2%. None since.
ROAD.-Onerates 49.25 miles of track. Connects Binghamton with
Lestershire, Hooper. Endicott Union and Port Dickinson. Standard
gauge,60-lb. to 103-1b. T and girder rial; 75 motor cars and 27 trail cars.
EARNINGS.-For year ending Dec. 31:
Gross.
YearNet. Int. c% Taxes.
Surplus.
1651,527
1916
8244,872
8142,337
8102,535
546,300
1915
210.020
130,261
79.759
OFFICERS.-Pres.,F.L. Fuller; V.-P., R. W.Day; V.-P.& Gen. Mgr.,
O. S. Banghart; Sec., W. H. Hecox; Treas., E. M. White. Office, Binghamton, N. Y.-V. 98. p. 522, 837; V. 99. p. 269: V. 100, p. 980.

BIRMINGHAM, ALA.
BIRMINGHAM RY. LIGHT & POWER.
Controlled by the American Cities Co.(see under "New Orleans"), which
owns 89.62% of the common and 79.35% of the preferred stock.
ORGANIZATION.-Consolidation on June 13 1901 of the Birmingham
Gas Co., the Consolidated Electric Light Co. and the Birmingham By..
Light & Power Co. Owns and operates the entire street railway, gas.
electric-light and power and steam heat business of Birmingham and all the
principal nearby cities and towns, including Brighton, Bessemer and Irondale; an interurban line about 12 miles of which is in operation, from East
Lake to Ensley and Pratt City; does the city lighting in Birmingham.
Bessemer and Brighton. Franchises covering gas, electric-light and power
business and street railway lines are, with some unimportant exceptions,
stated to be perpetual. Has a contract with the Alabama Power Co. by
which the latter furnishes electricity for operating the railways and also for
light and power service in Birmingham. Under this contract the company's
steam station is held as a reserve plant. V. 98 p. 1691.
In April 1917 acquired the stock of the Birmingham-Tidewater Ry. in
consideration of the guaranty of that company's bond issue, principal and
interest. V. 104, p. 1590.
STOCK AND BONDS- Date.
Interest. Outstanding, Maturity.•
Common MOM ,$3,900,000_ J-D
83.900.0®
See text
J-D
3.500,000 Dec'16.3
Pref($100).33,500.000 67'e _cum ____
Birmingham R & El let .D/I
861,000 July 2 19
1894 5 g J-J
$1.2 0,000 81,000)____c Int. at Central Trust Co., N. Y. BirmingNot subject to call.
ham Tr. & Say. Co., Birmingham, Trus.
Gen M. ref, 310.000,000. 1904 4 g A-0 8.720,000 April 1 1954
c* Int.at Commercial-Gormania Tr.& Sav.Bk..
gold ($1.000)
New OM.,True.. or at N.Y.Tr.Co.. N.Y.
Ref & exten M $25,000.000 1607 6 g M-N
4,734,000 May 1 1957
1,000) gold sink. fund_c* Interest at Old Colony Trust Co., Boston.
ot subject to call.
I Trustee, and N. Y. agency of company.
Notes $2,000,000 (81,000)__c* 1917 6 A-0
1,200,000 Apr 1 1919
Bonds.-Of the new $25,000.000 bonds, $9,581,900 are reserved for prior
liens, $1,200,000 for the cost of new power house if first lien on same. and
$9,485,000 for 807 of the cost of additions if the net earnings are 1%
times the int. on all bonds outstanding, incl. those to be issued, and provided
10% of gross earnings have been expended for maintenance within previous
12 months. The directors may make the rate of int on succeeding installments not to exceed 6%. Sinking fund of 3•6 of 1% of bonds out commences
Sept. 11918. Bonds purchased to be held alive and int. thereon re-Invested.
For details of bonds, property, &c.. see V. 87. p. 1603. Of the gen. M.of
1904, no more bonds can be issued. Sinking fund of
of 1% of -bonds out
begins Aug. 1 1924. The bonds are sub, to call at 105 & int. on any int.
day on 60 days' notice. For 1st 5s of 1894 $12.500 per ann. is pay. into
a sinking fund; $389,000 have been canceled. The 2-year notes are red. at
101 and int. to April 1 1918, and 1003i and int. thereafter. on 30 days'
notice. Interest payable in New York. Remaining notes are reserved for
extensions, improvements, &c. V. 104, p. 1144.
Diridends.-Plrat div. on pref. stock, of 3%. paid in Jan. 1902, and 3%
8.-a, thereafter to and incl. Dec. 1914; in June 1915. none: Dec., 3%. In
June 1916, 3% and 1% on acct. of arrears; Dec., 3%. On corn. stock in
1903, 3%;ir 1934. 4%;in 19J5,4%;in 1906, 5%;in 1907 and 1908, none;
1909, 2%; 1910, 5%; 1911, 7%; 1912, 8%; 1913 & 1914, 6%; none since.
REPORT.-For calendar years:
Net after
Gross
Interest and
Sum.,for
Earns.
0th. deductions. renew.,&c.
Taxes.
Year$3,404,104
$1,191.770
1916
$811,412
8380.358
2,987,251
1.020.699
1915
789,697
231.002
ROAD.-Operates over 154.05 m.of single track in cities of Birmingham,
Bessemer and in Jefferson County. Standard gauge. All but 26 miles 70
to 100-1b. T girder rails. Owns 250 passenger, 58 freight and 25 miscellaneous cars. Total, 333.
OFFICERS.-Pres.& Gen. Mgr.,3.5. Pevear, Birmingham; V.-P., Lee
C. Bradley; Sec. & Treas., J. P. Ross; Asst. Sec. & Asst. Treas., N. H.
Hawkins.-V. 104, p. 862, 1144, 1488, 1590, 1700.
Birmingham-Tidewater Railway Co.
ORGANIZATION.-A reorganization in 1917 of the Birmingham Ensley
& Bessemer RR. as per plan No. 1 in V. 101. P. 1013. The companys'
$325,000 stock was transferred to the Birmingham By., Lt. & Power Co.in
consideration of the latter's guaranty of the payment of prin. and int. of
this company's bonds.
Date.
BONDSInterest. Outstanding. Maturity.
First mtge $4,000,000 gold l 1916 5 g J-J
81,500,000 Jan 1 1946
c*JInt. at Empire Trust Co., N. Y., trustee.
($500 and $1.000)
The bonds are red. on any int. date at 101 and int. They are guar..
p. & I., by the Birm. Ry.. Lt. & Power Co. V. 104. p• 1700.
ROAD.-Owns and operates 19.162 miles of 1st main track, 12.145 miles
2d main track, 0.805 miles sidings. &c., 0.676 miles misc.; total. 32.788
miles. 85-lb. steel rails; standard gauge. Has 25 P-A-Y-E steel coaches.
26 dump cars, 3 flat cars. 8 misc.cars, 1 Baldwin locomotive and 1 ten-ton
crane. V. 104. p. 1700.

BLUFFTON, IND.
MARION & BLUFFTON TRACTION CO.-A trolley road.
ORGANIZATION.-Incorp. in Indiana June 1914 as a reorganization
of the old Marion Bluffton & Eastern Trac. Co., sold under foreclosure in
Feb. 1914. The old company was placed in receivership as a result of
a head-on collision on July 7 1912 in which four persons were killed and 60
or more injured (V. 95, p. 297).
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
8216,000
Stock $216.000 ($100)504.000 July 1 1934
1st M gold $504,000 ($1,000)! 1914 5 g
Sink.fd. 1% per annum. 'Int. at Fletcher Sav.& Tr.Co.,Indianap..Tr.
EARNINGS.-For cal. year 1915, gross, $111,254; net, 835,304.
ROAD.-Operates 32 miles of track between Marion, where connection
is made with Union Trac. Co. of Indiana lines and Ind. Rys. & Light Co.,
and Bluffton, Ind., connecting there with Fort Wayne & Northern Indiana
Trac. and Union Trac. Co. of Indiana. Standard gauge. 70-1b. T rail.
OFFICERS.-Pres.. James W. Sale; V.-P., Abram Simmon; Sec. & Acting Gen. Mgr., James S. Clark; Treas.. J. S. Gilliland.-V. 99, p. 196
BLUFFTON GENEVA & CELINA TRACTION CO.-A trolley road.
ORGANIZATION. &c.-Organized in Indiana in 1907. Private right
of way. Stock. 8450,000 coin., $225,000 (5% cum.-J.-J.) pref. Road.
19 miles of track between Bluffton and Geneva through Vera Cruz and Linn
Grove. Pres., H. C. Arnold; V.-P., A. G. Briggs; Sec., G. S. Markley;
Treas.. W. A. Kunkel; Aud. & Purch. Agent, James S. Clark.

10

ELECTRIC RAILWAYS

BOISE CITY, IDAHO.
BOISE VALLEY TRACTION CO.

Controlled through stock ownership by the Idaho Power Co.(V. 104, p.
1148), all of whose stock is in turn owned by the National Securities Corp.
(V. 100, p. 1673,2010). The Traction Co.owns in fee all the railway property of the old Idaho By.,Lt.& Power Co. except the Boise RR.Co., Ltd.
(V. 103, p. 577; V. 104, p. 1488), which is in no way connected. There remains outstanding against the property the following issue of bonds:
BONDSDate. Interest. Outstanding. Maturity.
Boise & Int 1st M $5,000,0001 1896 5 g A-0 $1,033,000
1936
8($1,000)s f&sub to call.c&rfInt. at Colonial Trust Co., Pittsb., Trustee.
ROAD.-69 miles single track equivalent of interurban lines and 11 miles
of city lines; total, 80 miles.

BOSTON, MASS.
BOSTON ELEVATED RAILWAY.
ORGANIZATION.-Charter granted in 1897 provides for an extensive
system of free transfers. The company also, in addition to regular street
railway taxes, has to pay % of 1% of gross "earnings of all lines owned.
leased or operated by it," and a sum equal to the excess of the dividends
over 6%. Its charter, however, is understood to "grant it exemption from
reduction of fares, and also other immunities." (See Massachusetts RR.
Commission, V. 65, p. 1223.)
On April 29 1903 leased from the Old Colony Street Ry.(now merged in
the Bay State St. Ry.) all that company's tracks in the city of Boston,
amounting to 23.753 miles. The lease is for 99 years and provides that
besides paying taxes the Elevated Co. will pay 64% of replacement value
(appraised at $353,979, less the rental of certain short pieces of track
appraised at $13,866) of the property leased as of date Feb. 16 1903, and
4% on the cost of all additions and betterments.
Lease of West End.-The West End Street By.is leased until June 10 1922.
Consolidation with West End Street Ry.-In July 1911 Massachusetts
Legislature passed an Act (signed by the Governor on July 21 1911) superseding that approved May 28 1908 (V. 86, p. 917, 1342), permitting the
consolidation of Boston Elev. and West End St. By. at the expiration of
the present lease, on June 10 1922. 8% cum. 1st pref. stock of Bost. Elev.
(having the ordinary voting powers, but not "entitled to participate in any
increase or issue of new stock, corn. or pref."), to be Issued,$ for $.for West
End pref. and 7% cum. (or 8% if arbitrators so decide) 2d pref. (having
all voting powers without exception) for corn, stock of West End. After
the issue of the new pref. shares no other stock to be issued "prior or equal
to such 1st pref. and 2d pref. stock without the consent of two-thirds of the
holders of such stocks,respectively." The Act also provided that the Street
By.forthwith sell to the Elevated Co. all unused real estate, the proceeds
not exceeding 21,500,000 to be invested as a special trust fund and to accumulate untilJune 10 1922. Thereafter the annual income thereof shall be
applied to cancellation of 2d pref. stock. When all the 2d pref, has been
retired then said fund shall be applied by the Elevated By. Co. to any
purpose for which stock and bonds can legally be issued. See terms of Act
In V.93, p. 344. Shareholders of both the Boston Elev. and West End St.
By.approved the Act; the former on Aug. 24 1911 and the latter on Sept. 6
1911. V. 93, p. 666. Holders of West End cont. and pref. stock may on
or before June 10 1922 exchange their stock at par for Elevated By.common.
After June 10 1922 holders of Bost. Elev. 1st or 2d pref. may exchange
their stock for an equal amount at par of Bost. Elev. common.
On Sept. 5 1911. in a suit brought to test the constitutionality of the
Merger Act, Judge Colt in U. S. District Court sustained the demurrer of
the West End St. By.and dismissed the suit to prevent the merger. V. 95,
p. 618. New suit brought by a West End shareholder in France on Dec. 31
1913 (V. 98, p. 74) also dismissed.
Subways.-In Dec. 1896 the West End Street By. leased the right to use
the Tremont St. subway in Boston. See terms under West End Street By.
On Dec. 24 1904 the East Boston tunnel (under Boston Harbor) was
leased by the Boston Elevated By. until June 10 1922 for a rental of of 1%
of earnings of all lines owned, leased or operated. The company also collected a toll of lc. per person, which went to the city, but tolls were abolished Feb. 8 1916 by an Act permitting the city to assume them each year
by act of the City Council appropriating sum sufficient to cover int. and
skg. fd. requirements for the year. The tunnel was opened Dec. 30 1904.
It extends from the main land to East Boston,1.4 miles,and cost $3,500,000.
On June 28 1902 Washington Street Subway bill became a law. The city
constructed a tunnel for elevated trains and leased same to the Boston
Elevated By. for 25 years at an annual rental of 4%% of total cost of construction, which was $7,901,700 net. V. 88, p. 98. Proposition was ratified
by voters at Dec. 1902 election. V. 75, p. 28, 496, 1315; V. 77, p. 2097;
V. 82, p_. 217. The Washington Street tunnel began operation Nov. 30
1908. V. 87, p. 1477.
In June 1906 the Mass. Legislature passed a law permitting the Boston
Elev. to construct two subways in Cambridge,and to issue stock or bonds to
meet the cost. At the end of 20 years the city of Cambridge is to have the
right to purchase these subways by paying their cost plus 7% int., less dividends. V.83, p. 93. On Jan. 4 1912 the first through train was run in the
new subway; it was opened for public travel Mar. 23 1912. V. 94. p. 1185.
New Construction of Subways and Old Contracts Extended.-In July 1911
Mass. Legislature passed an Act (accepted by the city and Boston Elev.
In Sept. 1911) providing for the construction by the city of three additional
subways, viz., Dorchester Tunnel, Boylston St. Subway and East Boston
Tunnel extensions, and the extension of all existing contracts until July 1
1936. the date to which contracts for new lines are to run. Annual rental
after expiration of old contracts to be as follows: Tremont St. Subway
(see under West End).4%% on net cost; East Boston tunnel (now expiring
June 10 1922). 4%% on net cost (provision for tolls from passengers using
the tunnel eliminated for extension period); Washington St. tunnel (now
expiring Nov. 30 1933), 4%% on net cost. Annual rental for new lines:
Cambridge connection,for first 20 years,4%% on net cost; thereafter 4%%
on net cost; Dorchester and Boylston tunnels and East Boston tunnel extension, 4%% on net cost. The Act also provides that all contracts are to
continue after July 1 1936 until terminated by a two-years' notice by either
party. The various new leases and extensions of old leases were signed by
the parties thereto on Dec. 7 1911. V. 93, p. 1785.
The new Boylston St. rapid transit subway on which work was begun
Mar.8 1912, was opened for traffic Oct. 3 1914 from the Tremont St. subway, near Charles St., and the Public Gardens, westward toward Brookline. 1% miles. The subway cost the city about $4,500,000(V.99. p.1213).
The extension of the East Boston Tunnel, on which construction was begun
Nov. 29 1912, was opened March 18 1916, permitting an 18-minute schedule
from Central Square, Cambridge, to Maverick Square, East Boston. Estimated expenditure on this project $2,400,000. V. 102, p. 1058. Construction of the Dorchester Tunnel, which is to be an extension of the Cambridge
subway, was begun on May 30 1912. and is well under way. On April 4
1915 trains began operating to Washington Station, just east of the
the Summer and Winter stations of the Washington Street Tunnel, and on
Dec. 3 1916 to South Station Under. at Dewey Sq. and South Terminal
RR. station. Cost of this tunnel without equipment is estimated at upwards of $9,800.000.
Everett Elevated Extension.-The P. S. Corn. has granted an extension of
time for construction of the Everett extension till Feb. 20 1918 and the
Secretary of War an extension of time for the completion of the bridge until
May 1 1918. '
Damages by Noise.-In Aug. 1902 Judge Mason, in the Superior Court
at Boston, held that the company is liable for damage's from noise caused
by the operation of trains. V. 75. p. 498. This was affirmed April 1903
oy Massachusetts Supreme Court. V. 76. p. 809.
Wage Increase.-For wage increase effective May 11916,see V. 103,p.320.
In Oct. 1915 sold $3,286.000 additional bonds. Under Mass. law bonds
may be issued only up to the par value of the company's stock plus paid-in
premiums, amounting to $26,586,828. No new bonds may be issued,
therefore, until additional stock has been put out. See remarks in annual
report for year ending June 30 1915 in V. 101, p. 1550-V. 101, p. 1369.
1712. Following Governor McCall's message of May 23 1916 to the
Legislature (V. 102. p. 2076), a special recess committee was appointed to
report on the advisability of the State's taking any action to enable the co.
to obtain net revenue adequate for its corporate purposes. The committee
has submitted a bill which includes several measures for relief, but does not
authorize the increase in fare from 5 to 6 cents which the co. has been seeking.
Equipment-Investment in Property 1911-1916.-See V. 104, p. 862.
STOOK AND BONDSDate. Interest. Outstanding. Maturity.
Stock.$23,950,000 ($100)-Quar
$23,879,400 May'17,
Debentures. gold....._oScr_nal Iwo 4 g M-N
8,500,000 May 1 1935
Old Colony Trust Co., Boston, Registrar.




[VOL. 104.

STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Debentures,gold
c&r_ntf 1907 434 A-0 24,800,000 Oct 1 1937
Debentures.gold___e&r*_ntt 1911
4 M-N
5,000,000 Nov 1 1941
Debentures,gold_ .. _c*&r*- n tf 1912 5 -D
8.286,000 Dec 1 1942
2.700.000
Notes payable,May 11917_
Bonds.-The coupon bonds are in denominations of $500 and $1,000
issue,
registered bonds of all
which
are
only),
and
for
$1,000
1911
(except
issues are in denominations of 21,000, $5,000. $10.000 and $50,000.
In Dec. 1908 the Massachusetts Railroad Commission sanctioned
$6,650,000 additional stock (raising stock to $19,950,000) at $110 per share.
to defray the cost of the Cambridge subway and for the construction of the
East Cambridge and West End elevated lines. V. 87, P. 1662; V. 88, p,
1372. In Dec. 1912 increased its stock from $19,950,000 to $23,950,000
and offered stockholders the right to subscribe for new stock at $105 per
share. V. 95, p. 1272; V. 96, p. 61.
Dividends.-First div.,
%, was paid Aug. 15 1898. In 1899, 5%%;
In 1900, 43470; in 1901, 5(%; in 1902 to 1913 inclusive, 6% yearly; in
1914 rate was reduced and in Feb. 2% was paid. In July 1914 It was decided to pay dividends quarterly (V.99. p. 341) and in Aug. 134% was paid;
Nov.,1% %. In 1915, 53i%• In 1916,5%. In 1917. Feb., 134% May,
%
ANNUAL REPORT.-Report of Boston Elevated Ry. for year ending
June 30 1916 in V. 103, p. 1410.
1914.
1913.
1916.
1915.
Revenue miles run
58,572,308 57,805,695 57,990,436 57,784,319
Revenue pass. carried.._363,477,041 346,316,584 343,181.049 326,352,863
Earnings3
Passenger
18,126,247 17,269,034 17,112,925 16,1,607
Malls, rents, adv., &c.._
540,302
516,692
560,725
529,574
Total
Net earnings
Misc. interest, &c

18.626,972 17,798,608 17,629,617 16,802,909
5,673,328
6,606,976 6,510,624 6,331,755
159,420
156,362
94,356
87.942

Total
6,701,332
Deductions-West
End
debt
867,196
Int. on
Taxes, West End
536,871
Taxes, Boston Elevated
343,813
Taxes on earnings
158,801
Rental of subway
184.687
Divs.on West End stock 1,453,160
9,180
Divs. on Som. Horse Ry.
69,825
Rent, Bay S. St. Ry..&c.
Int.on Bos.El.fund.debt 1,064,625
Int. on unfunded debt.._
65,053
Wash't'n St. tunnel rent
355,568
East Boston tunnel rent
68,057
ext. rent
28,357
do do
71,008
Camb'dge Connec. rent_
207,515
Boylston St.subw,rent..
Miscellaneous
13,846
Reconstruc., &c., res'ves

6.598,566

6,488,117 , 5,832,748

819,792
546,793
371,107
151,289
183,929
1,430,323
9.180
65,993
963,619
86,166
355,488
64,838

790,997
550,638
340,362
149,947
188,913
1,406,808
9,180
57,216
981,000
86,900
354,605
64,263

762,610
610,218
376,482
141,342
188,068
1,392,969
9,180
56,529
887,807
207.700
370,256
60,575

70,859
150,382
4,588

70,120

68,409

180,000

5,132,125
5,274,347 5,230,949
Total deductions_ _ _ _ 5,497,562
700,623
1,257,169
1,203,770
1,324,219
Balance
(5)1,193,970(5%)1313367(5)1,193,970(6)1,197,000
Dividends
sur.9,800 sur.10,852 sur.63,199 def.496,377
Balance for year
Road June 30 1916 ("R" Stands for Rapid Transit Track).
Miles.
Miles.
423.757
Main 1st track (13.680 "R")..245.053 Owned by West End
Main 2d track (13.460 "R")_210.014 Leases,tek'ge.Stc.(36.853"R")99.946
Sidings, &c.(9.713 "R")____ 68.636
Total (incl. 36.853 "R") 523.703
Total (incl. 36.853 "R")_523.703
Weight of girder rails is 70 to 150 lbs. Cars, 3,647; horses, 229; electric
motors. 7,602; snow-plows. 256; snow sleds. 620; misc., 619. Capacity of
all stations is 166.400 k.w.
OFFICERS.-Chairman of the Bd., William A. Bancroft; Pres., Matthew C. Brush; V.-P., Charles S. Sergeant; Treas.. Henry L. Wilson; Sec.,
Henry S. Lyons; Gen. Aud., J. Henry Neal.-V. 102, p. 1058, 1625, 2076;
V. 103, p. 320, 492, 1209, 1410; V. 104, p. 862, 1803.
Companies Controlled by Boston Elevated Railway Co.
(1) West End Street Rallway.-A trolley road.
ORGAN1ZATION.-Leased to Boston Elevated By. until June 10 1922
at 7% on common and 8% on preferred in addition to the payment of
rentals, interest and other charges. Elevated assumed possession Jan. 1
1898. See terms in V. 65, p. 1223. Consolidation authorized with the
Boston Elevated By. See particulars under latter company.
In Dec. 1896 leased the right to use the Tremont Street subway at 4%%
of its net cost, stated approximately as $5,786,000 in Sept. 1898, when the
third and last section was opened. Entire length is 1 2-3 miles, with a
trackage of about 5 miles. See V. 63, p. 1065, 1117; V. 67, P. 528. See
Bost. Elev. for extension of contract and new construction.
In April 1916 the Mass. P. S. Comm. auth. two bond issues of $815,000
and $1,581,000, the former to provide for th,e $815,000 4% bonds which
fell due May 1 1916, and the latter to refund $1,581,000 serial deb. bonds of
1915, due Aug. 11916. V. 102, p. 1347, 1542; V. 103, p. 321. In Jan.
1917 issued $2,700,000 5,
X, 5-year bonds to refund a like amount of 30-year
4% bonds due Feb. 1 1917. V. 104, p. 363.
On Apr. 2 1917 11,694 shares additional common stock were sold at auction in 8 lots at prices ranging from 5134 to 52%. V. 104, p. 1389.
In Apr. 1917 applied to Mass. P. S. Comm.for authority to issue $1,581,0006% 30-year bonds to pay off a like amount of serial bonds due Aug. 1 '17.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$14,029,85 Apr 17. 3%
Corn stock ($50) $14,029,850-__
7 A-0
8 J-J
6,400.000 Jan '17. 4%
Preferred ($50) $6.400.000___
2,600,000 Mar 1 1944
5% bonds of 1914
5 M-S
1914
2,700,000 Feb 1 1922
Bonds ($1,000)
1917 5 F-A
5,709,000 Aug 1 1932
Bonds (21.000)
c*-ntt 1902 4 F-A
700,000 Jan 1 1923
Bonds ($700,000)___c&r_ ntf 1908 434tJ-J
Bon
Bonds ($1,000)
c&r_ntf 1910 4 J-J
1.604,000 July 1 1930
600,000 Nov 1 1932
Bonds
ntt 1912 5 -N
1915 5 F A
3.162,000
Serial deb bonds
5 M-N
1916
815,000 May 1 1936
Bonds
1916 5 F-A
1.581,000 Aug 1 1919
Bonds ($1,000)
Bonds.-Interest on all issues is payable at American Trust Co., Boston,
except on the 3-year bonds of 1916, which is payable at Old Colony
Trust Co., Boston. The serial deb. bonds of 1915 mature $1,581.000 yearly
Aug. 1 1917 and 1918. The bonds of 1917 are callable on and after Aug. 1
1919 at 102 and interest.
OFFICERS.-Pres., Joseph B. Russell; Treas., Parkman Dexter.V. 103, p. 321, 1303, 1889; V. 104, p. 1265, 1389, 1491.
(2) Somerville Horse RR.
Owns 8.03 miles of track. Leased to West End Street By. for $9.180
Yearly-6% on $153.000 stock. Dividends are payable M.& N.in Boston.
BOSTON SUBURBAN ELECTRIC COMPANIES.-A trolley system.
ORGANIZATION.-This company is a voluntary association formed in
Nov. 1901 on the same lines as the Mass. Electrio Companies. Controls through stock ownership the Middlesex & Boston Street By. (into
which the Natick & Cochituate St. By., the Westboro & Hopkin St. Ry.,
the Newton & Bos. St. By., the Newton St. By. and the Lex.& Boston St.
By. have been merged). In 1902 purchased Norumbega Park and Lazing.
ton Park. In 1908 Massachusetts RR. Comm.sustained action increasing
fares on several of the subsidiary lines from 5 to 6 cents. V. 87, p. 345.
Has acquired freight rights in several of the towns along its lines.
STOOK.-Shares have no par value, but in case of liquidation the preferred shareholders will be entitled to $100 per snare, with accrued dividends.
the common shares participating pro rata in the remaining assets. (See
V. 73.P. 1159, 1263.) In 1904 15,635 shares of preferred and 15,635 shares
of common were offered to shareholders at 266 67 for one share of pref. and
one share of common jointly. Listed on Boston Stock Exch. in Apr. 1905.
On May 22 1913 the stockholders authorized the cancellation of the 32,387
shares of cum, pref. stock outstanding and the issue of notes in place of
same, holders haying the option of taking cash or notes for their stock.
V. 96. p 1487.
See text

•

MAY, 1917.1

ELECTRIC RAILWAYS

Date. Interest. Outstanding. Maturity.
Common stock
50,296 sh.
Preferred stock,$4 per sh, CUM.
31,387 sh. Apr. '17, 50c
Q-J
()oupou notes, 52.000,0001 1909 4 J-D
$1.100,800
Apr 1 1919
(5100. $500 and $i.000)--1Interest at Boston Safe Deposit & Trust Co.
Demand and time loans--85,000
Notes.—The 1909 notes are not specially secured, but are simple obligations of the association. subject to call on any Interest date on 60 days'
notice at 1023.6. V. 89, P. 1068.
ROAD.—Companies owned and controlled operate in the aggregate about
131 miles of track from Needham on the south to Lowell on the north, and
connecting at five points with the tracks of the Boston Elevated By. At
Westboro connection is made with the Worcester Consolidated.
Dividends.—First of $1 on preferred paid April 1902; also $1 July 1902
and $1 Oct. 1902. In 1903, $4; in 1904, $2 50; in 1905. $2; in 1906, 52 75;
In 1907, $3 Jan.. April and July 1908 div. passed. In Oct. 1908 divs.
resumed. and paid 75 cents. In 1909. 33. In 1910 to 1913, incl., $4. In
1914, $350. In 1915, 33. In 1916, $3. In Jan. 1917, 50c.; April, 50c.
Arrears of dividends, $13 50.
REPORT.—For year ending June 30 1916: Income from securities held,
$146,333; exp. and interest, $50,288; dividends ($3), $93,793; stir., $2,252.
OFFICE .—Pres.. Adams D.()Iaflin; V.-P., Sydney Harwood; Treas..
Chas. W.Smith; Sec., A. A. Baliantine; Asst. Trea-s., G. M.Cox.—V. 100,
p. 138; V. 101, p. 845, 1188; V. 102, p. 152; V. 103, P. 60, 1209.

11

OFFICERS.—Pres., Gordon Abbott; V.-P., Charles E. Cotting; Sec..
Everett W. Burdett; Treas., J. H. Goodspeed; Gen. Mgr., P. F. Sullivan;
Gen. Auditor, H. II. Read. Executive Committee: Philip Dexter. Chairman; Gordon Abbott, Charles Francis Adams, Galen L. Stone, Percy
Parker. Philip L. Saltonstall and Charles E. Cotting. Office, 84 State St.,
Boston.—V. 101, p. 846, 1189, 2068; V. 103, p. 1301, 2238, 2336.
(1) Bay State Street Ry.—An electric road.
ORGANIZATION.—This was the Lynn & Boston RR.(Incorp. in Mass.
April 6 1859), but on July 23 1901 name changed to Boston & Northern
St By. and on Aug.8 1911 name was again changed to present title. The
following companies have been absorbed from time to time. The latest of
these absorptions was in June 1911, when the Bos. & Nor. took over the
Old Colony and issued 7.767 shares of pref. and 80.041 shares of corn, in
exchange for like amount of Old Col. Street Ry. stock.
Beverly & Danvers.
Mystic Valley.
Boston Milton & Brockton.
Needham & Boston.
Braintree & Weymouth.
New Bedford Middlob. & Brockton.
Bridgew. Whitman & Rockland.
Norfolk Central.
Brockton Brldgew. & Taunton.
Norfolk Suburban.
Brockton & East Bridgewater.
North Woburn.
Dighton Somerset 3-, Swansea.
Old Colony Street Ry.
East Side Brockton & Holbrook.
Providence & Taunton.
Georgetown Rowley & Ipswich.
Quincy & Boston.
Globe Street Ry.
Reading & Lowell.
Gloucester Essex & Beverly.
Reading Wakefield & Lynfield.
Gloucester & Rockport.
Rockland & Abington.
(1) Middlesex & Boston Street Ry.—Trolley.
Rockport Street Ry.
ORGANIZATION.—Organized in 1907 and took over the South Middle- Gloucester Street fly.
Salem & Wakefield.
sex Street fly., sold at receivers' sale July 1 1907, and has since acquired Hanover Street fly.
South Shore & Boston.
and merged the Westborough & Hopkinton St. Ry., the Natick & Cochitu- Haverhill & Andover.
Taunton & Brockton.
V. 87. p. 1420), the Newton St. Ry. Onto which Waltham St. Haverhill Georgetown & Danvers.
ate St. By.(V
Taunton Street Hy.
By. had been merged, and which had acquired Commonwealth Ave. St. By. !Ingham Street Ry.
Lawrence & Reading
Wakefield & Stoneham.
and Wellesley & Boston St. Ry.), V. 89, p. 778. and the Newton & I3oston Lowell
Woburn.
West Roxbury & Roslindale.
St. Ry.(V. 89, p. 993). On May 9 1912 Mass. RR. Commission granted Lowell &
Lawrence & Haverhill.
Whitman Street By.
permission to absorb by consolidation the Lexington & Boston St. Ry. and
& Suburban.
Woburn & Reading.
Issue $525,000 stock In exchange $ for $ for stock of absorbed campany; Lowell
Middleton & Danvers.
V. 94. p. 1317.
Lease.—In 1903 the Boston Elevated Ry, leased all of the track of the
On Aug. 1 1908 Mass. RR. Commission gave a decision sustaining New- former
Old Colony Street Ry. (now a part of the Bay State St. By.) in
ton St. Ity.'s right to charge 6-cont fares and to charge one cent extra
(beyond the ordinary 5 cents) for each transfer issued. See V. 87, p. 345. the city of Boston for 99 years. The lease provides for the payment of all
In Aug. 1909 Comm. granted the Middlesex & Beston the right (for an taxes and also 614% on replacement value (appraised at $35:3,979, less the
experimental period of one year) to charge one cent extra (beyond the regular rental of certain short pieces of track appraised at $13,866) of property
5 cents) for each transfer issued; in Aug. 1910 privilege was continued for leased as of date Feb. 16 1903. and 4% on all additions and betterments.
In 1907 obtained permis.sion to do a freight business in a majority of the
another year and in Aug. 1911 privilege was again extended and was never
withdrawn. On Oct 28 1914 Commission authorized the company to towns along its lines south of Boston, and is now handling express and freight
establish a uniform faro of 6 cents throughout its system, with free transfer by trolley over a considerable percentage of this track. In Sept. 1911
but to sell 9 tickets for 50 cents and school tickets at rate of ten Mass. RR. Commission granted authority to carry coal in car-load lots or
P
for 30 cents, both good between fare limits where the cash fare formerly less in Dracut, Methuen, Middletown and North Andover.
In Sept. 1912 signed a contract by which the Boston Elevated brings the
was 5 cents. V. 99. p. 1368.
company's express cars into Boston over the former's lines to a freight
STOCK AND BONDS—
Interest. Outstanding. Maturity, terminal. V. 95, p. 1123.
Date.
$1,987,000 In '16.3X %
Stock. 51.987,000
Decision regarding carrying children for half-fare.—En May 1912 the full
First and ref M, 55.000,0001 1912
1,483,000 Jan 1 1932 bench
4 g J-J
of Mass. Supreme Court sustained the constitutionality of Chap.576,
gold ($1,000)
c Int. at Boston Safe Dep. & Tr. Co., trustee. Acts of 1911,
that street railways shall carry school children unLox & Bost 1st M, 5500,000, 1900
500.000 July 1 1920 der 16 years ofproviding
4% g A-0
age for half fare. V.91, p. 1507.
g ($1.000), callable 105_ _0 Interest at Beacon Trust Co.. Boston, trustee
Current liabilities June 30 1915
Fares.—On Sept. 1 1916 the Mass. 1'. S. Comm.denied the co's petition
1,202,693
Bonds.—Romaining first and refunding bowls are reserved for additions, for an increase in fares from 5 to 6 cents, so far as the thickly settled districts and the zones adjacent thereto were concerned. Fares in other parts
extension and improvements. Callable on any interest date on 30 days
notice as follows: Jan. I 1917 to July I 1921, inclusive, at 107 Yi and int.; of the territory have been increased and stops are being taken to abolish
Jan. 1 1922 to July 1 1926, inclusive, at 105 and int.; Jan. 1 1927 to various reduced fares which the Comm. intimated should be done. If net
earnings are not increased by tho amount the Comm. found to be reasonJuly 11931, inclusive, at 1023i and int. V. 94, p. 351.
and properly necessary, the co. may apply for relief again. See Pres.
EARNINGS.—For year ending June 30 1916, gross, $1,039,310; not, ably
Abbott's report on faro decision and physical condition of properties in
after taxes, $221,615; charges,$156,459; divs.(33 %).564.578;sur.,$578.
V. 103, p. 2335.
ROAD.—Owns 95.904 miles of track in Newton, Waltham, WaterWages.—For award by arbitration board in June 1915. see V. 100, p.2166.
town, Natick, Wellesley, Framingham. Hopkinton. Needham. Westboro,
In Dec. 1016 the Mass. P. S. Comm. auth. the issue of $2,500,000 6%
Sherburn, Wayland, Belmont and Ashland, connecting with the Worcester serial notes for construction, replacement of rolling stock,
&c. V. 103,
Consolidated Street Ry., the Boston Elevated Ry. (at 4 points), &c. D. 2237. Up to May 1 1917 these had not been issued.
Forms a link in a through line from Boston to Worcester. Also owns 32.356
In April 1917 the Mass. 1'. S. Comm. auth. the co. to issue $489,000 1st
miles of track, leaser 0.745 mile; total, 33.101 miles, extending from Arling- prof. stock at par; $325,000 Boston & North. St. By.50-year
4% bonds and
ton Heights (terminus of Boston Elev. system) through Lexington and Bed- $398,000 Old Colony St. Ry. bonds, the proceeds to be used to
pay floating
ford to Billerica, where cars go through to Lowell without change, and also debt, and for construction and equipment, &c. Securities were
issued and
to the Sullivan Square, Charlestown, station of the Boston Elev. Ry., with are included in amounts reported outstanding.
branches to Waltham and to Concord. Total track owned.128.254 miles.
STOCKS
interest.
Date.
BONDS—
AND
Outstanding.
Last div.,&c
264 pass. and 14 work cars: 26 snow plows. 60 to 75-lb. T. and 95-lb. Stock co
,olon (par $100)
$20,517,200 Dec '14, 2
girder ratis.—V.97. p. 237; V. 99. p. 120.343, 1366.1598; V. 101, P. 2071. 1st
prof ($100) 6% cum ----F-A
3.973,300 Feb '17, 3%
Serial notes, $2.000,000c_ ntfI 1912 5 F-A
1.'414,000 See text
MASSACHUSETTS ELECTRIC COMPAN I ES.—Street railways.
Interest at American Trust Co., Boston.
ORGANIZATION.—Formed in Juno
Serial notes, $2,500.000 c_-_- 1916
None as yet See text
6%
1899. Is not an
I3os & Nor ref mtge. $15,000,company, but a voluntary association managed by a board ofincorporated
8,400.000 July 1 1954
fifteen
trus000, gold (31.000) _c...ntf In
tees, who hold the title to its assets. The trust run.s for 21 years, or until
1t.
99alt Anagerjica
ji n Trust Co., Boston, Trustee.
June 29 1920, at which time the affairs of the Association are to be liqui- Lynn & Boston 1st mtge. g, trli8
4
t.9a
3,723.000 Dec 1 1924
35,379,000 (51,000) c. n tf
j-op
t Old ColonyC
lony Tr. Co., Boston, Trustee.
dated (the prof.shares having a first claim upon the assets for $100 pershare
0 it & I 1st mtge ($1,000). 1900 5 g J-D
together with all unpaid accumulations of dividends) unless prior to
180.000 June 1 1920
that
$180,000, gold
time, at a meeting called for that purpose, two-thirds of the shares then outntf. Interest at City Trust Co., Boston, Trustee.
H U & D 1st mtge
1899
standing shall vote to continue its existence. V. 97. p. 1823. Messrs.
,
18
ntf a,
Mch 1 1919
E.
The Mystic Valley St. fly. has out
,000 gold 5s, due Jan. 1 1919.
9 $605
Rollins Morse & Br. and Tucker, Anthony & Co. of Boston, who promoted the combination, in June 1899, in offering some of the stock for pubLawrence
&
Haverhill.
Lowell
lic subscription ($1.000 of pref. and $500 corn, was offered for 31,(i50),
BONDS—
Dale.
Interest. Outstanding. Maturity.
stated that "the Declaration of Trust contains strict provisions against the Lowell
Lawrence & Haverhill 1893 5 g J-D
$669,000 June 1 1923
creation of any indebtedness whereby any shareholder or trustee can be hold
1st mtge, 51.900.000, gold. Subj. to call for the sink, fund at 105 & Int.
to any personal liability.' Comprised originally between 30 and 40 sopc* ntf Int. at American Trust Co., Boston, Trustee.
31,000
rate properties, but through consolidation there Is now only one operating People's
St Ry, West New- 1898
5 J-J
64.000 Jan 1 1928
company, namely, the Bay State St. fly., whose entire common stock is
bury 1st M. assumed__ntf Interest at State Street Trust Co.. Boston.
owned by the Massachusetts Electric Cos. The Hyde Park Electic
Co.,
formerly owned, was sold on Jan. 3 1912 to Edison Elec. Ilium. Co.Lt.
of BosOLD COLONY STREET RY. SECURITIES.
ton, but in Mar. 1912 the Bay State St. By. bought back the power station.
The system comprLses electric street railway lines in 22 cities
BONDS—
Date.
Interest. Outstanding. Maturity.
70
towns In Eastern Massachusetts and Now Hampshire and Rhode and
Ftef mtge, $10,000,000, gold,} 1904
4 g J-J
$7,175,000 July 1 1954
covering the greater part of the street railway mileage north of Island,
Boston
_c* ntf Int. at Old Colony Tr. Co., Boston, Trustee.
(51.000)
as far as Nashua, N. II., and Newburyport and Gloucester, Mass.,
(Consol) St fly 1st , 1894
5 g A-0
689,000 Oct 1 1924
south as far as Fall River and New Bedford, MaSS., and Newport, and Brockton
mort,$750,000, gold_ _ _ntf Int. at State Tr. Co.,callable at 105 & int.
connecting directly with the street railway system of Boston;aLso an R. I., Boston
Milton & Brockton, 1899
5 J-J
electric100,000 July 1 1919
lighting property in Newport, It. I. The cars of the
1st mtge, $100,000 __ntflInt. at Internat. Tr. Co., Boston, Trustee.
State St. By.
run into the subway or the Boston Elevated Ity, as far asBay
Scollay Sq. under Brock Bridegwat & Taunton) 1897
5 g F-A
200.000 Aug 1 1917
a 99-year lease.
1st M g, $200.000($1,000)}Int. at Amer. Tr. Co., Boston, Trustee.
Payment of Accrued Dios. on Pref. Stock.-00 Jan.
c5
prof. share
n tfj
holders were offered $3,619,000 In negotiable warrants 5 1912
additional prof Brock & E Bridgewater, 1st 1898
5 g F-A
30,000 Feb 1 1918
stock, to represent accrued dividends of 17 X % on pref.for
mtge,
330.000—n0
shares.
gold,
prof
New
Int. at American Tr. Co.. Boston. Trustee.
11912.
V. 93, p. 1462; V. 94. P.68.
shares issued July
Taunton & Brockton first 1897
5 F-A
100,000 Aug I 1917
Wages.-For award by arbitration boarril n Juno 1915 see V. 100, p. 2167
mortgage, 5100.000_ - -ntf Int. at State Street Tr. Co., Boston, trustee.
STOCK AND BONDS.—The share capital is represented by certificates N Bedford M'dleboro &13rock 1900
325,000 Jan 1 1920
5 g J-J
of participation which give the owners a proportionate interest in the shares
1st M, 5325.000 ($1,000), Int. at American Tr. Co., Boston. Trustee.
gold
held by the trustees. Both classes of shares are reported exempt from taxantf
Of the $10.000,000 Old Colony St. fly. ref. mtge.,$2,201,500 are reserved
tion in Massachusetts. Corn. stock and stamped prof. stock listed on
Boston Stock Exchange. The balance sheet of' the controlled Bay State St. Ra• for prior liens. Remaining bonds can only be issued for 50% of cost of
additions & imprts. These bonds are not subject to call. V. 93. p. 1784.
shows funded debt June 30 1916, 524.156.000. and notes for amounts due
Mass. Elec. Cos., 5650.000.
Globe Street Railway Securities.
Date.
Rate.
Outstanding. Dividends.
Date.
Interest
Outstanding. Maturity.
Common stock, par $100
$14,293,100
Prov & Taunton St Ry 1st g 1898
5 g M -S
$150.000 Sept I 1918
($14,293,100)
($1.000),autb 3200.000.ntfj American Trust Co., Boston. Trustee.
_ 4 J-J
Prof. stock, par 5100 4%
24,129,676
See text
cum ($24,208,400)
South
Boston
Shore &
Street Railway Securities.
5 g A-0
Coil trust coupon notes, gold 1915
3,000.000 April 1 1918
Date.
Interest. Outstanding. Maturity.
(31.000) 33.500.000_c*c pt Old Colony Trust Co., Boston, Trustee.
Bonds, 1st M ($1.000). geld. 1899
$335,000 Aug 1 1919
5 F-A
The 1915 coupon notes are secured y $12,000,900 common stock of the
$1.000,000
ntf Int. at American Trust Co.. Boston,Trustee.
Bay State Street By. V. 100, p. 733.
Bridgewater Whit & Rock. 1897
5 g M-N
85,000 Nov 1 1917
1st mtge. g, $1,000 c....ntf Interest at American Trust Co., Boston.
REPORT.—For years ending Sept. 30 (1916 report in V. 103, p. 2336):
Year ending Divs. on Int. on
Total
Interest, Preferred
Surplus
\Vest Roxbury & Roslindale Street Railway
Sept. 30— Stocks. Notes,&c. Income. Exps..&c. Dividends. or Deficit.
1915-16.._ $111,259 $48,368 $159,627 $164.365
Date.
Interest. Outstanding. Maturity.
def.$ .738 Norf Cent 1st M,gold.
t914-15.... 513,068 78,489 591,557 192,079 (2)5484,128 def.84,650
3100.-1 1898
27,500 July 1 1918
5 g J-J
subject
to
000,
call
ntfj
Internat.
Int.
Trust Co., Boston, Trustee.
at
1913-14...,..1,077,291 77,552 1,154,843 177.693
)968,256 sur.8,894
1912-13 - - -1,133,293 71,433 1,204,726 204,012 4)968,256 sur.32,458
Stock and Bonds.—By the terms of purchase of Old Colony by Boston &
Total profit and loss surplus Sept. 30 1916, $2,556,534.
Nor, the pref. stockholders of both companies became 1st pref. stockholder's
of the Bay State St. fly. Pref. stock is subj. to call at 120. Tax-exempt in
DIVIDENDS.—First div. on pref. stock, 2%. was paid Dec. 11899; also Mass.,
incl.
income and normal Federal income tax. Listed on
1900.
27's June 1
Div. period then changed to J&J and 2 1-3% paid Jan. Boston Stock State
Exch. Of the $15,000.000 Boston & Nor. bonds. $4.841,000
ION; July 1901, 2%; in 1902, 1903 and 1904, 4%. None
to Jan. 1909, are reserved to retire prior liens. Remaining bonds can be issued
only for
when 1% paid; July, 13.5%. See V. 79, p. 2642, 2456; V.85, p. 1646; V.
of cost of additions and improvements. These bonds have no sinking
p. 1420, and V.89, p. 1597. In 1910,3K7s, In 1911,4%. In 1912,487, 50% and
are not subject to call. V.93, p. 1784. Of the 55.379.000 1st M.
(Soo above for payment of accrued divs. of 1'7X %.) In 1913 and 1914,4 s. fund
bonds of the
& Boston RR.. 51.656.000 have been canceled. The
In 1915, Jan., 2%. 'rho July 1915 div. was omitted. See V. 100, p. 1832. coupon notes Lynn
of 1912 mature on August 15th as follows: 1917, $50,None since.
000; 1918, 557,000; 1919, 564.000; 1920, 372.000; 1921. $80,000; 1922.




12

1926. 3126.000;
388.000; 1923, $97,000; 1924. $106,000; 1925. 8116.000;
1930. 3174.000; 1931.
1927. $136,000; 1928, $148.000: 1929. $160,000;
retired.
been
have
$136,000
618.
p.
95,
V.
$202,000;
$188,000; 1932,
Initial div. on
DIVIDENDS.-6% has been paid on pref. since 1908.
2%;
Bay State St. Ry. com.-3%-paid Dec. 30 1911; in 1912, June,
Dec.,
Dec.. 3%; in 1913, June, 2%%; Dec., 3%. In 1914, June, 2%%;
254%. June 1916, 34%.
To. 2336):
INCOME ACCOUNT.-For fiscal year ending June 30(V. 103,1913-14.
1914-15.
1915-16.
39,614,153
$9.538,407
$9,996,484
Gross earnings
$2,231,603 $2.640.655 $3,186,290
Net earnings
81.096
66,459
62,812
Other income
$2,294,415 $2,707,114 33,267.386
Gross income
$1,949,441 $2,004,564 $1,952,115
Interest, taxes, rentals, &c
77153
(34 of 1%)102,586(234)512,930(5()10
Common dividends
164,916
164,916
164,916
First preferred dividends(6%)
$73,202
324,704
$77,471
. Balance, surplus
leases 67.25
ROAD,&c.-The Bay State St. Ry. owns 867.59 miles and
miles, a total of 934.84 m. of main line; owns and operates 2,130 passenger
and 264 express cars. Power capacity 49 engines, 43,775 h.p., and 52
generators. 29.755 k.w.: 11 turbines, 22,500 h.p. and 15,100 k.w.
& Treas.. 0. R.
OFFICERS.-Pres.,Patrick F. Sullivan, Boston:
Rockwell; V.-P.& Gen. Mgr., R. S. Goff.-V.102, p. 2165, 2253; V. 103,
1700.
1044,
p.
104,
V.
2237;
2155.
13• 406. 937, 1031. 1117. 1209.
of main track. Leased
(a) Boston & Chelsea RR.-Owns 4.37 miles
t (Lynn & Boston Street Ry. Co. at $7.260 per annum, equal to 6% on
3121,000 stock. payable A. dc 0.
(b) Boston & Revere Electric Street Ry.
of main
ORGANIZATION.-Incorp. June 24 1889. Owns 3.71 miles
(now Bay
track. Leased from July 1 1895 for 99 years to Lynn & Boston
of 1908
mtge.
$50,000
on
the
interest
guarantees
which
Ry.).
State Street
and dividends on $50,000 stock from July 1 1898 at 5% par annum.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$50,000 See text
5 J-J
Stock (par 3100)
50,000 Sept 1 1928
Boston & Revere Elec St Ryl 1908 5 g M-S
Boston. Trustee.
Co..
Trust
American
at
-_c*fInt.
($1,000)gold
$50,000
Bonds.-No sinking fund, but bonds may be called on any interest date
on six weeks' notice.
(c) East Middlesex Street Ry.
May 1
ORGANIZATION.-Owns 19.34 miles of main track. Leased
at a rental till
1893 to Lynn & Boston (now Bay State St. Ry.) for 99 yearsthen
till May 1
May 1 1898 of $18,000 yearly in addition to fixed charges;
1901 324,000 yearly; and for remainder of lease 330.000 yearly. Eight
per cent diva. had been paid, but on May 1 1901 were increased to 10%.
Outstanding. Maturity
Interest
STOCK AND BONDS- Date.
$297,700 See text
10
Stock ($100).$300,000------120.000 Sept 1 1918
Plain bonds, int. guar.(end.). 1898 5 M-S
100,000 Jan 1 1922
Plain bonds. int guar (end) __ 1902 4 J-J
Boston.
Interest at Old Colony Trust Co..
with a
The lessee in the lease agreed to stamp both issues of the bonds
guaranty of the interest-principal is not guaranteed.-V.67. p. 482.
(d) Nashua Street Railway.-Trolley.
ORGANIZATION.-Incorp. Aug. 14 1885. Owns 15.94 miles of main
track. Oa July 1 1900 was leased to the Lowell & Suburban for 99 years.
and lease now runs to Bay State Street Ry.
Rental.-Dividends are payable Jan. and July at the rate of 4% in 1901.
6% in 1902 and 6% for the remaining 98 years of lease.
Interest. Outstanding. Div.& Mat.
STOCK,BONDS,&C.- Date.
8325.000 See text
Stock. $325,000 (par $100)
150.000 Oct 1 1931
4 g A-0
First mortgage. 3150.0001 1901
Co., Boston. Trustee.
Tr.
Colony
Old
at
Int.
tt
O
41.000). gold
Bonds.-Entire issue may e called at 105 and accrued interest.

Date. Interest. Outstanding. Maturity.
STOCK AND BONDS32,025,000 See text.
Stock, corn (3100)
397,200 Mar.'17. 3%
M-S
Pref. $397,200($100)6% cum.
2,400,000 Aug 1 1923
Bost & Wor 1st mortgage,$2.-1 1903 454 g F-A
500,000, gold ($1,000)c*tf(Interest at American Trust Co., Bos., True.
5
60,000 Jan 1 1919
Pram So & Marl 1st mtg tf1 ---lInterest at American Trust Co. Boe., True.
*210.000
Notes payable July 1 1916
* Of which $185,000 held by B. & W. Electric Companies.
Dividends.-On pref. 3% semi-ann. since issued. On corn. paid 3%
July 1904; also 3% semi-ann. until Dec. 1908, when 134% was paid. In
134%; in 1911. Dec., 1%; in 1912, June.
1909, June, 13.4 %; in 1910,
2%%. In 1914, 3%. In 1915. 254%•
Jan.,
In 1913,
1
1 4%.
1 Si %; Dec..
3
In 1916, 34%.
REPORT.-For year ending June 30 1916 (report in V. 103, P. 2075):
Balance,
Divs.
Int.&
Common
Net
June 30 Total
1
(6).
Dividends. Surplus.
Taxes. Pref.
Years- Revenue. Revenue.
1915-16.4801,254 1$312,921 $170,946 $23, 32 (31375,938 $42,205
58,126
23,832 (2% 55.688
170,025
1914-15- 738,797 307,671
4,977
167,362 23,832 (2X 55,688
1913-14.. 692,477 251,859
ROAD.-Owns and operates 83.819 miles of track,a considerable portion
Worcester,
an
Boston
and
including
between
way.
of
right
over private
extension to Natick. Rails, 75-1b. Has 83 cars.-V. 104, P. 1700. 1800,
PUBLIC SERVICE INVESTMENT CO.
ORGANIZATION,&c.-Organized in Maine in 1909 to hold and to deal
in stocks, bonds, notes and other securities. On Oct. 30 1913 stock was
increased from 32,000.000 each of pref. and common to $3,000,000 each.
V. 97, p. 1289.
Authorized. Par. Div.Period. Outstand'g. Last Div.
STOCK$2,500,000 See text.
$3,000,000 $100
Common
3,000,000 100 Quar.-Feb. 2,500,000 May '17,13.4
Pref. 6% cum
at
of company at 115.
option
redeemable
is
stock
-Preferred
Stock.
Securities Oumed (Stone & Webster Properties) Dec. 31 1916.
Co
b$205.000
Electric
Tampa
Blackstone Val. G.& El__*$513.1001
*500,0001Galv. Houston Elec. Co___*500 000
Cap. Breton Elec
El.
Texas
Co_
__*500.000
Northern
Co_..
350,000
Traction
Jacksonville
Houghton County El.L.Co.*500.000 Pug.Sd.Tr., L.& Pow.do*1,466,800
a222,000
Houghton County Trac. Co.*100,000 Key West Electric Co
*374.100
al00.000 Key West Electric Co
Columbus Elec Co
102,267
*500.000 Cash & notes receivable__
El Paso Elec. Co
* Common stock. a Preferred stock. b Capital stock.
See statements of these companies (except the Blackstone Valley Gas
& Electric Co. and the Houghton County Electric Light Co.) on subsequent pages.
Dividends.-On pref. 1%%Auar.since Aug. 1909 to and including May
1917. On corn.,_ 1st div.-1 %Aug..X-Feb. 1 1910; Aug. 1%. In 1911,
13 and 1914. 4%. In 1915, Feb.. 2%.
3%. In 1912. 3%%. In
None since.
INCOME.-Years ending Dec. 31:
Surplus or
Pref.Divs. Com.Dlvs.
Expenses
Total
Calendar
(6%).
Deficit.
(2%).
& Taxes.
Income.
Yearsur.$24,285
$150,000
$5,573
$179,858
1916
def.
8.863
$50,000
6,844
150,000
197,981
1915
DIRECTORS.-Henry G. Bradlee, Russell Robb, Chas. A. Stone,
W.
John
Hallowell,
Dwight
(Pres.),
Wadsworth
Eliot
Webster,
Edwin S.
P. Robinson.-V.95,P. 111; V. 97, p. 1119, 1289, 1734; V. 101, p. 292.

(e) Winnisimmet (Street) RR.
ORGANIZATION.-Owns 2.09 miles of main track. Leased to the
Lynn & Boston for 999 years from 1880 at $3.000 per annum. Capital stock
I. $50.000; par $50.
(1) Newport & Fail River Street Ry.
ORGANIZATION.-Organized by special Act on Feb. 23 1898. July 1,
New1900 consolidated with Newport St. Ry. Has also consolidated with
port Illuminating Co. Embraces 21.44 m. of main track in and between
1 1901
Newport and Fall River; also electric lighting. Was leased on July
for 99 years to the Old Colony St. Ry.(since merged in Boston & Northern,
now the Bay State St. Ry.) for a rental of 8% per annum and int. on bonds.
The Mass. Elec. Companies disposed of its holdings in Feb. 1902.
In Oct. 1915 issued $50,000 additional stock and 3123,000 bonds in accordance with lease to Bay State St. Ry.
- Date, Interest. Outstanding. Maturity.
STOCK,BONDS. ETC.
$1,050,000 See text.
J-J
Stock, par $100
240.000 Aug 1 1918
Newport & Fall River 1st 1898 5 F-A
tf American Trust Co.. Boston, Trustee.
mortgage
696,000 July 1 1954
Consol mortgage,$1,000.000, 1904 434 J-J
c*Str tf Int. at Am. Trust Co.. Boston, Trustee.
gold ($1,000)
63,500 Oct 1 1925
6g
Newport Illuminating Co 2d ---tf Central Trust Co., New York. Trustee.
mortgage, gold
Bonds.-Remalning consol. mtge. bonds are reserved to retire prior liens.
Not redeemable. V. 79, p. 213. 501, 1462.
BOSTON & WORCESTER ELECTRIC COMPANIES.
a
ORGANIZATION.-This is a voluntary association organized under
corn.
trust agreement dated Dec. 29 1902. Its property consists of the entire
stock,$126,000 1st mtge. bonds and $185,000"notes payable" of the Boston
& Worcester St. Ry. It has issued 33,936 4% cum. pref. shares and 34,614
corn. shares, no par value; but in case of liquidation pref. shares receive $100
Boseach before the participation of common. In Jan. 1905 was listed on issue
ton Stock Exchange. Stock was increased to present amount by the
to
in July 1906 of 8,000 shares common and 6,000 pref., which was offered
shareholders at $105 for a block of one preferred plus one common share.
REPORT.-For year ending June 30 (1916 report in V. 103. p. 2075).
Total
Other
Preferred Expenses Balance,
June 30 Divs. on
Income. Dividends. & Taxes. Surplus.
Year- B.&W.Stk. Income.
$4,960
31,773
$84,840
$91,573
1915-16__ $75,937 $15,636
1,588
1,862
67,872
71,322
15,635
1914-15.... 55,687
to
1905
July
11901;
paid
$2,
pref.
stock.
div,
on
-First
DIVIDENDS.
to
1912,
1915.
1908, incl.. $4; in 1909, $2: in 1910, Jan., $l: 1911, none;
incl.. $2. In 1916, Jan., $1; July. $1 50. In 1917, Jan., 31.
OFFICERS.-Pres., William M.Butler; V.-P., A. E. Childs; Sec., J. F.
Bacon: Treas., A. E. Stone; Gen. Mgr., C. D. Emmons.-V. 102, p.
2344; V.103, p. 60. 2075.
Boston 8c Worcester Street Ry.-Trolley.
ORGANIZATION.-Incorporated in Massachusetts on Nov. 16 1901.
Owns the Framingham Union Street Ry., FramFranchise perpetual.
ingham Southborough & Marlborough Street Ry. and the Marlborough
& Framingham St. Ry. In March 1907 Maas. RR. Commission granted
right to do an express and freight business over entire line.
On Feb. 21 1911 Mass. RR. Comm. auth. an issue of $397,200 6% cum.
($100) pref. stock (auth. by stockholders Feb. 2 1911). of which 3297,000
was used to retire like amount of common issued in 1910(V. 90. p 625) and
remainder to fund floating debt. V. 92. p. 394. 525. 059, 724.
In Nov. 1912 made a contract with the Boston Elevated Ry. for the
operation of express cars over that company's tracks to the freight express
terminal on Harrison Ave.
Fares.-In 1909 single fare unit raised from 5c. to 8c.
In Oct. 1916 the P. S. Commission auth. the issue of600 additional shares
pref. stock at $105 and $60,000 1st 43.4s at par for paying off floating debt
Incurred for impts. and for equip.; these are not incl. in amounts reported
outstanding.
In May 1917 the P.S. Comm.auth. the issue of $270,000 additional pref.
stock and $40,000 additional 1st M. bonds (not included In amounts reported outstanding).




[VOL. 104.

ELECTRIC RAILWAYS

BRATTLEBORO, VT.
TWIN STATE GAS & ELECTRIC CO.
ORGANIZATION.-Incorporated in Connecticut on Aug. 26 1906 and
acquired the Brattleboro Street By., the Brattleboro Gas Light Co., the
Dover Gas Light Co.(V. 83, p. 562). the Bennington Electric Co. and the
Hoosick Falls Illuminating Co. In Oct. 1913 acquired the St. Johnsbury
Electric Co. and in April 1914 the Cascade Lt. & Power Co. and the Berlin
Elec. Co. Furnishes gas, electric light and power to Dover, N. H., and
Bennington and Brattleboro. Vt.; also electric light and power to Rochester.
Salmon Falls, Rollinsford, Somersworth, Berlin, Milan, Gorham and Hinsdale, N. H.; St. Johnsbury, St. Johnsbury Center, Passumpsic, Danville,
West Danville, North Bennington, Bennington Centre, West Brattleboro
Berwick and Lebanon.
and Newfane, Vt.; Berwick, North Berwick, South
St. By.
Me., and Hoosick Falls, N. Y., and operates the Brattleboro
Pres., Samuel Insull, in a letter dated Mar. 25 1916, said, "all the principal
have
been
by
and
construed
Legislature
State
franchises were granted by the
counsel as perpetual." Control is hold by the National Light, Heat &
UtiliWest
by
the
acquired
Middle
turn
In
was
which
of
control
Co.,
Power
ties Co. in Oct. 1912. V. 95, p. 1750.
Date. Interest. Outstanding. Maturity.
STOOK AND BONDS31,250.00
Common,$2,500,000. ($100)1.500,00
($100)
$2,500,000
Prof(5%cum)
1.276,100 Oct 1 1953
1st & ref M $10,000,000 gold! 1913 5 g A-0
($1,000,$50.)& $100)c*cpt1Guaranty Trust Co., N. Y., Trustee.
856.000 Oct 1 1926
1st ref M $1.500,000g ($5001 1906 454 A-0
cttffInt. at Columbia Trust Co., N. Y., Trustee
& $1.000)
300,500
5
5-year debentures 3325,000- _--115,000 Sept 1 1925
5
Dover Gas • Light con mort-1 1905
tfjUnion Safe Dep: & Trust Co., Trustee.
gage. $500.000
250,000 Sept 1 1917
1897
mortgage,1
&Elec.
Gas
United
ntif Union Safe Dep. & Trust Co., Trustee.
$250,000
66,000 Feb 2 1923
5
Brattleboro Gas L Co mtg-ntt 1903
1935
71,000
Hoosick Falls Illuminat'g Col
tflOolumbla TrustOo., N. Y., Trustee.
3150.000
1930
85.000
Hoosick Falls Electric Col
ttfOld Colony Trust Co.. Boston, Trustee.
$75.000
1923
84.000
Bennington Water Power &I
American Loan & Trust Co., Trustee.
ntf
__
$100,000_
Co
dr Light
12,500
1929
Bennington Water Power &
ntf Old Colony Trust Co.. Boston, Trustee.
Light Co $30,000
81„_000
1935
Co
$175.Elect
Bennington
tf Columbia Trust Co., N. Y., Trustee.
000
80.000 Mar I 1929
St Johnsbury El Co 1st M__tf 1909 5 M-S
49,000 April 1 1925
Co_
Power
&
Light
Cascade
-__
22,000 Apr 1 1921
Cascade Electric Light &I 1921
jUnion Safe Deposit & Trust Co., Trustee.
Power Co
Bonds.-$1,731,500 1st & ref. 5s are reserved to retire underlying bonds.
Additional bonds may be issued for impts. and acquisitions at 80% of cost,
all bonds outProvided net earns. are at least 1% times the fut, charges on
or after Oct. 1
standing, incl. those to be certified. 1st dr ref. 54 are red. onof
gross earns.
1923 at 105 and int. A depreciation reserve fund of 6%
commences Dec. 31 1918. V. 102, p. 1988.
Dividends.-5% yearly has been paid regularly on pref. stock since 1907.
EARNINGS.-For year ending Juno 30 1916, gross, $570,123; net.
$270,801; bond interest, $139,942; surplus, $130,859.
ROAD.-Operates 5 miles of track in Brattleboro.
OFFICERS.-Pres.,Samuel Insull; V.-P., H. L. Olds; Sec., II. H. Bechtel; Treas., 0. A. Forrest. Gen. offices, Brattleboro, Vt.-V. 83, p. 499;
V.95, p. 1750; V.98,P. 156; V. 102, p. 1988.

BRISTOL, CONN.
THE BRISTOL & PLAINVILLE TRAMWAY CO. Franchises perORGANIZATION.-Incorp. Sept. 21 1893 in Conn.
Electric Co.
petual. Road first opened Aug. 12 1895; merged with Bristol
Terryville branch
Mar. 31 1897; steam heating plant installed in 1902;gas
plant installed
opened in 1903. Woodland St. branch opened in 1906;
addition to railway
in 1906; underground system installed in 1916. InForestville
and Terryservice, furnishes electric light and power in Bristol,
ville; gas in Bristol, Forestville and Plainville, and steam heat in Bristol.
In August 1908 a stock dividend of 507 was declared, increasing out414.
standing amount to $375,000. V. 87, p.
75.000 to $562.500, new stock
ct 1914 stock was increased from
In O.
was further increased to
stock
1916
In
1915.
Oct.
1
May
being issued
$618,800, and stockholders were offered the right to subscribe for new
stock pro rata at par. V. 103, p. 1687.
Date. Interest. Outstanding. Maturity'
STOOK AND BONDSQ-F
$618,800 May'17,2%
Stock,$1,000,000 (3100 ----540,000 Nov 1 1945
1st mortgage $800,000, gold{ 1905 434 g M-N
ntf Interest at Bristol National Bank, Bristol.
($500& $1,000)
Trustee.
Connecticut,
of
of
State
Treasurer
par
at
call
to
Subject

fg.

•

13

ELECTRIC RAILWAYS

MAY, 1917.1

Dividends.-In 1899 to 1909, incl., 6% per annum; 1910, 7%; 1911 to
1913,inch,8%; 1914, 10%;since,8% Per annum.
EARNINOS.-For years ending June 30.
Railway Gas & Elec. Interest
Railway
Ltg., Net. & Taxes. Dividends. Surplus.
Net.
Gross.
Year319,692
$45,000
$54,728
$30,500
1916_ .....3119,311 $40,464
15,943
30,000
53.644
38,602
30,901
1915._ - 105,347
miles of track laid with 56.60 and 72-1b.
ROAD, &c.-Operates 13.74
Plainville, Lake Compounce and
T-rail connecting Bristol with Forestville,
Terryville. Standard gauge, 32 cars, 3 snow plows and 1 work car. TenOFFICERS.-Chairman of board, Chas. 11. Tenney; Pres., A. B.
L. Tiffany, Bristol, Conn.;
ney; V.-P. D. E. Manson; Sec.-Treas..Morris
E. cnekings. General Managers, Chas. H. Tenney & Co.Manager,
V. 95. p. 1330; V. 97. p. 1662; V. 98, P. 154, 1535; V. 103, P. 1687.

BRISTOL, VA.-TENN.
BRISTOL TRACTION CO.
ORGANIZATION.-Incorp.In Virginia. Was formerly the Bristol Belt
Line By. Co. but on Sept. 7 1911 filed a certificate changing name to above
title, and increased auth. stock from $100,000 to 3300.000, and par of shares
Owns entire stock of Holston Valley RY.
from $50 to $100. V. 93,p. 1323.
Receivership--BankruPtcy.-Interest on bonds having been defaulted,
Fred Dulaney (V.-P.& Gen. Mgr.) and J. A. Caldwell were on Dec. 9 1916
appointed receivers. V. 103, P. 2237. On Apr. 9 1917 the co. was adjudged bankrupt by Judge Henry C. McDowell in the Federal Court at
Bristol. Va.
Date. Interest. Outstanding. Maturity.
STOCK AND BONDS-.
$143,800
Stock $300.000 ($100)
192,500 Sept. 15 '41
Mortgage $300,000 (31,000) 1911 5 A-0
II. S. Trust Co., Washington. D.10., Trustee
callable at 105
ROAD.-Operates 15.3 miles standard-gauge electric line in Bristol and
between Bristol and Big Creek Park, on the Holston River. 11 passenger.
and 1 flat car.
1 freight
OFFICERS.-Pres.,B.L. Dulaney; V .-P. & Oen. Mal... Fred.Dulaney,
Sec. & Treas., Win. Eberhart.-V. 103, p. 2237; V. 104, p. 1590.

BROOKLYN, N. Y.
BROOKLYN RAPID TRANSIT-(See Maps, pages 14 and 15).
ORGANIZATION.-Organized Jan. 18 1896, per plan in "Chronicle.'
V. 60. p. 1145. to succeed to the property of the old Long Island Traction
Company, foreclosed, a syndicate headed by the late ex-Governor Flower
but was orhaving then bought control. Is not a railroad corporation,
York to hold the stocks
ganized under the Business Corporation law of Newconstruction
the
aid
in
and equipand
to
companies
railroad
and bonds of
ment of railroads. Franchises are perpetual.
ASSETS.-The following is a statement of the stocks'and bonds owned
by the Brooklyn Rapid Transit system Dec 311916.
Stocks.
$200,000
Entire capital stock Brooklyn Heights RR. Co.(par)
Entire capital stock Skin. Q'ns Co.& Suburban RR.Co.(par)- 2,000,000
8,500,000
Entire corn. stock of the Nassau Electric RR.Co., par
63,943.75 shares out of 65.000 shares of the 4% cumulative pref.
6,394.375
stock of Nassau Elec. RR Co., par
47,859.85 shares out of 50,000 shares of the 5% non-cumulative
4.785,985
pref. stock of the New York Consolidated RR. Co., par
134,308.31 shares out of 139,000 shares of the common stock
13,430,831
of the New York Consolidated RR.Co., par
350,000
Entire stock of Coney Island & Gravesend By. Co., par
64,787
647.87 shares of Brooklyn Rapid Transit Co.. par
500.000
Entire capital stock of South Brooklyn Ry., par
9.800 shares out of 10,000 of the American Railway Traffic Co.
980,000
(owned by Transit Development Co.). Par
500.000
Entire capital stock of the Transit Development Co., par
par
•
500 shares of the Bridge Operating Co., par
200,000
2,000 shares of N. Y.Mudicipal
Y.& Coney Isl. RR.Co
92,500
925 shares out of 1,000 shares of N.
Park & South Bklyn. RR.Co50,000
500 shares out of 500 shares Pros.
Isl. & Bklyn. RR
2,684,000
26,840 shares out of 29,839 shares Con.Co
.
50.000
500 shares Bkiyn. & NorthNo. Bklyn.
Ave.
&
RR.
Co
DeKalb
10,000
100 shares
& Brooklyn Terminal Co
2,500
25 shares Coney Island
& Home Bor. Car Adv. Co
10,000
100 shares B'way Subway
Coney
and
Park
Island
Prospect
11R.
Co.
27 shares
2,700
Bonds.
340,857,678
*lst M 5% bonds Bklyn. Queens Co. & Sub. RR.(par)
32.000.000
let con M Bklyn. Q'ns Co.& Sub.(owned by Bklyn.-lt'•,s Co.)._
50,000
*lst mortgage 5% bonds Brooklyn City RR.( ar)
1.627.000
4%,
goldmtge.
Brooklyn
*Refunding
City 11
925,000
*Gold 5% bonds Brooklyn Rapid Transit
30.000
Ref intg 4% bonds Brooklyn Rapid Transit Co
20.866,000
Rer nag 4% bonds B. R. T.(owned by Nassau El. RR.)
1.761,000
Consol mtg 4% bonds Nassau Elec RR
onds Sea Beach R.(owned by Nassau Elec. 1.161.000
Consol mtg 4
------RR. Co.)
22.500
22,500
Jamaica & Brooklyn mtge. bonds
8,000
N. Y. Municipal By. Corporation
57.735.000
consol. mortgage
Coney Island & Brooklyn first
13,000
consol.
Brooklyn
mortgage
&
Island
Coney
732,000
Brooklyn City & Newtown mortgage
7,000
386,937,500
Q.0.& Sub. RR. 1st 5s and Bklyn. City RR
*The entire amount of B.
$925,000 B.0. RR. ref. 4s held, and $25,000
let 58: also $125 000 out of the
out of the $30.06011. R.T.gold 5s and 3250,000 B. R.T.ref. mtge.4s held,
compose guaranty fund for performance of Brooklyn City RR. Co.'s lease.
New Subways and Extensions.-An agreement was reached in May 1912
as to how the routes of the new dual subway system in lower Manhattan
should be apportioned between the Interborough and Bklyn. Rapid Transit,
and the Court of Appeals at Albany having on June 29 1912 affirmed the
(V. 94. P. 1057) holding to be constitutional
decision of Justice Blackmer
the terms of the proposed contracts with the Interborough and B. R. T..
formal contracts were drawn up See tchapetPio.nS. Comm. and were signed on
Mar. 19 1913. V. 96, P. 862.
"Rapid Transit in New York
1566; V. 95. p. 48, 111. 237, 1040; V. 96,
City" in V. 94, P. 1384, 1449,
new subway lines, built and to be built
p. 63, 136, 488, '716, 864. The
jointly by the Brooklyn Rapid Transit and the city, are as follows:
of Manhattan from the Battery
(a) Subway line traversing the Borough
and connecting
to 59th St.. mostly on Broadway,
by tunnel
under the East
Brooklyn. with rights over
the Brooklyn.
River with subway lines inQueensboro
Manbridges.
hattan, Williamsburg and
(The
Board
of Estimate in
July 1915 decided to make the connection with the Queens lines by tunnel
under the river instead ofover the Queensboro Bridge.Com.V. 101.p. 1554.
in Sept. 1916. V. 103, p. 1033.)
Contract for tunnel awarded
(b) Centre St. loop, connecting the different bridges and extended through
Manhattan,
to a connection with the lower East
Ste.,
Nassau and Broad
River tunnel and the 4th Ave. subway in Brooklyn, with extensions to
86th St. and Coney Island. Two tracks in the Centre St. loop were placed
In operation Aug. 4 1913 (V. 97, P. 297) and the other two were placed in
operation from time to time during the year 1914-15. The reconstructed
Sea Beach line was placed in operation May 1 1915 from Sixty-first Street
and Third Avenue to Coney Island. The Fourth Avenue Subway was
formally opened June 22 1915 to Sixty-fifth Street. The extension
to 86th St. was placed in operation Jan. 15 1916. On June 24 1916 the
New Utrecht Ave. elevated branch of the Fourth Ave. subway VMS placed
In operation as far as 62d St. and on July 31 1916 line was opened to 25th Av.
(e) Subway line extending from 6th Ave. and 14th St., Manhattan,
across Manhattan, under the East River, to North 7th St., Brooklyn,and
thence part subway and part elevated through the Eastern District by Metropolitan, Bushwick, Johnson and Wyckoff Ayes, to join the Cypress Hills
line. Contract for tunnel under East River was signed Feb.29 1916.
(d) Subway line in Brooklyn connecting Manhattan Bridge with the
Brighton Beach RR.
In addition to the above, there are several extensions of present lines to
be built by the company as well as third tracking and making additions and
improvements to existing lines, some of which have already been completed
and others are expected to be completed in the near future. See report for
year ending June 30 1916 in V. 103, p. 413; also under "Rapid Transit in
New York," in V. 104. p. 257. The cost of construction to the city of
lines in the Dual Rapid Transit System under contracts Numbers 3 and
4 (incl. both the Interborough and B. R. T. sections), now under construction, was originally estimated at $164,294,079 (not incl. allowances for
the expenses of the P. S. Comm.), and the total cost of construction and




equipment to the B. R. T. at $65.000,000. It would seem, however, that
the city's contribution will have to be increased, inasmuch as a report prepared by Commissioner Travis H. Whitney and Chief of Rapid Transit
Le Roy T. Harkness submitted to the Board of Estimate in July 1916.
showed that the total cost to the city of completing said contracts would
exceed the original estimate by nearly $22,000,000. duo chiefly to the higher
cost of labor, materials and borrowed money as represented by interest
charge on city bonds. See V. 103, p. 238. In addition, there must be
added $3,545,000 for expenses of the P. S. Comm. and $4,194,797 for the
cost of the Queensboro tunnel, making a total known cost to date of $194.031,876. See under "Rapid Transit in N. Y." in V. 103. p. 1033, and V.
104, p. 257. As of June 30 1916. the N. Y. Municipal Ry. Corp. had expended on account of contribution to city-owned lines $11.148,835: on account of equip. of city-owned lines. $6,153,120; and for add'ns, exts. &
imps.
the
of existing lines, $23,532,620; a total of $40,834,575. The 3d track on
Fulton St. line between Manhattan Jct. and Nostrand Ave. was placed in
operation Dec. 27 1915. The 3d track on Broadway line from Havemeyer
St. to Myrtle Ave. was placed in operation Jan. 17 1916. Operation of the
Liberty Ave. elevated extension was begun Sept. 25 1915. The N. Y.
Mun. By. Corp. has been granted extensions of time to July 27 1918 and
Feb. 2 1918 within which to complete construction and begin operation of
additional tracks OD the Fulton St. and Broadway elevated lines,respectively
See N. Y. Municipal By. Corp.-organized to carry out company's
agreement with city-on a subsequent page.
As to financing of the new construction work by the B. R.T.,see Secured
Gold Notes in table below, and text relating thereto, and also V.94.1p. 1694.
Remaining $20.000.000 notes were sold in Oct. 1915. V. 101. p. 1188.
The Brooklyn City RR. Co. Is held under a 999-year lease dated Feb. 14
1893, guaranteeing all fixed charges, organization expenses, taxes and 10%
div.on $12,000.000 ofstock (par $10). The lease is nominally to the Bklyn.
Heights RR. Co., but the Brooklyn Rapid Transit Co. owns the entire capital stock of the Brooklyn Heights Co. In 1898 the Heights Company
leased the Brooklyn Queens County & Suburban RR. The lease was renewed year by year, rental being fixed charges, taxes and organization expenses.. On July 1 1901 the B. Q.C.& S. began operating separately again.
On April 1 1899 the Heights Company temporarily leased the Nassau Electric RR. Later permanent leases were made, but on June 30 1904.presumebig in consequence of a decision (V. 79, p. 102) compelling the issuance of
transfers, the lease of the Nassau Electric RR. was canceled.
The Brooklyn Heights RR.in April 1899 leased for the period of 999 years
the Prospect Park & Coney Island RR.,the New York & Coney Island RR.
and the Prospect Park & South Brooklyn RR., but the leases of these companies were assigned in March 1907 to South Brooklyn Ry.,which had been
acquired by purchase in Feb. 1902. V.74, p. 479. In July 1912. however,
the South Brooklyn By. acquired 495 out of 500 shares of P. P. & So.
Bklyn. stock and 820 out of 1,000 shares of N. Y. & 0. I. (V. 95. pt!47),
and in Oct. 1915 was auth. to purchase the P. P. & 0. I. RR.(V. 101,p.
1464). In May 1917, however, this transaetion was still pending. The
South Brooklyn Railway owns the double-track road extending from New
York Bay, near 38th St. Brooklyn. to 38th St. near 9th Ave., Brooklyn,
and in June 1907 increased its stock from $150,000 to $500.11011.
Purchase of Coney Island & Brooklyn RR.-In Dec. 1913 the subsidiary
Coney Island & Gravesend By. received piermission from the P. S. Comm.
to purchase $2,637,000 of the $2,983,900 outstanding stock of the Coney
Island & Brooklyn RR. V. 96. n. 1020. 1088: V. 97. p. 1897.
On May 21 1904 the Brooklyn Heights Railroad Co. signed an agreement with the city for operation of trolley cars over the new Williamsburg
Bridge. See V. 78, p. 2013. 2386. Surface cars began to cross this
Bridge in Nov. 1904. V. 79, p. 2084. Later the Bridge Operating Co.
was formed, with $100,000 capital (of which one-half is owned by the New
York Rys.(ompany) to operate local service on the bridge. See V.79,
P. 626. Through elevated train service over the Wffliainsburgh Bridge was
inaugurated Sept. 16 1908. On Aug. 31 1915 the contracts between the
companies operating over the Williamsburgh Bridge and the city, namely
the Brooklyn Heights RR., the Bridge Operating Co. the Coney Island &
Brooklyn RR. and the New York Railways, as assignee of the New York
City Railways, were terminated by Bridge Comm. Kracke, but operations
are being continued at the request of the city under temporary permits
pending negotiations for a new contract. On Nov. 15 1912 the Appellate
Division of the Supreme Court. First Dept., affirmed the order of the P. S.
Commission reducing the fare charged over the Williamsburgh Bridge from
3 to 2 cents, or three tickets for 5 cents. V. 95, p. 1402. 1471.
Decision in Suit Against Brooklyn City RR.-On June 8 1912 the Appellate
Div. of N. Y.Supreme Court. 2d Dept.. handed down a unanimous decision
affirming, to the extent of $1,740,258 principal (with int. from March 3
1910, amounting to $1.616,680; total. $3,356,938), the judgment awarded
by the lower Court (V.90. p. 558; V.80. p. 1174; V. 70. n.841) in the suit
(begun in April 1900) of Brooklyn Heights RR. against the Brooklyn City
RR. to recover moneys which the Heights Co. claimed should have been
expended by the lessor in fulfilment of the terms of the lease of Feb. 14 1893,
but modified the judgment of the lower Court by excluding interest, leaving
the amount of the modified judgment $1,740,258. V. 94. p. 1565. 1625:
Both parties to the litigation then appealed to the Court of Appeals.
Brooklyn City By. In July 1910 reduced its dividend to 2% quer.. A of 1%
being retained quarterly and set aside in a special fund. V. 91, p. 93.
Oct. 23 1913 agreement of settlement was executed by the Brooklyn Heights
RR. and the Brooklyn City RR. providing for the payment of $1,650.000.
of which $900,000 was paid in cash on Nov. 1 1913 and the balance was
payable in quarterly installments of $50,000 with int. at 5% (see annual
report for year ending June 30 1914 in V. 99. p. 348). Payments, however, were anticipated and the last $200,000 were paid during the 6 months
ending Dec. 31 1915. In Jan. 1917 the co. announced that it expected to
resume the payment of the full 10% dividend on July 15 1917. V. 104, p255.
The Transit Development Co. was organized in April 1903 under the
Business Corporation Law, with $25,000 capital, and is owned exclusively
in the interest of the Brooklyn Rapid Transit Co. It is authorized to
manufacture and sell power and to do general contracting work. On
March 1 1907 special arrangement was made by which the concern will furnish
power and take charge of the maintenance and repair of all the railway
properties in the Brooklyn Rapid Transit system, including their equipment. V.84. p. 569. In June 1907 capital stock was increased to $500,000.
The Transit Development Co. in Dec. 1913 acquired a tract of about
90 acres in the Gravesend section of Coney Island. V. 98. P. 72. .
Special Franchise Tax Settlements.-For decision allowing for obsolescence
in fixing special franchise tax, see V. 91, p. 1511. For settlement of taxes
for years 1907-1912. Inclusive, see V. 102, p. 1162.
Universal Transfers.-On Mar. 27 1914 Public Service Commission Issued
an order providing for a universal system of transfers among surface
lines in Brooklyn,and this was accepted by the several operating companies
in the Brooklyn Rapid Transit System, and became effective June 1 1914.
The new order made a total of 1.008 transfer points, as against 721 before
the order became effective. V. 98. p. 911. 1070, 1692.
Advertising.-On the expiration of its contract with the Inter-City Car
Advertising Co.on April 30 1915. the company decided to handle the advertising, vending and news privileges itself, and on May 21 1915 the Broadway Subway and Home Boroughs Car Advertising Co. was inCorporated to
carry out the plan. Joseph P. Day is Pres. V. 100. p. 1831.
Atlantic Ave. Franchise.-In Feb. 1916 Mayor Mitchel refused to sign the
franchise for a line on Atlantic Ave. insisting upon the payment of the
franchise tax from which the co. wished to be absolved. Differences also
arose over the Initial payment and the duration of the franchise
(see V. 101, p. 772). The franchises for the Eighth Ave.(placed in operation in Dec. 1916), Fresh Pond Road and Metropolitan Ave. lines were
approved.
Favorable Decision.-On Oct. 2 1915 Supreme Court Justice Erlanger
dismissed the gity's suit against the Brooklyn Queens County & Suburban
RR.,seeking to collect $829.578 for the operation of the co.'s lines in Brooklyn and over the Brooklyn and Queensboro bridges, being 5% ($361,753)
of the company's earnings during 1901 to 1907. plus a penalty of $467.253,
on the ground that the city is not entitled to more than its franchise revenues and bridge tolls.-V. 101. p. 1271. City has appealed from decision
Wage Increase.-For increase in wages effective Sept. 1 1916. affecting
9,216 employees in the transportation department and costing the co. about
$650.000 a year, see V. 103, p. 843.
More Cars Ordered.-See under "Equipment" below.
Mortgages of Constituent Companies to Secure Advances by Brooklyn Rapid
Transit.-In May 1907 the New York State RR. Comm. consented to the
Sea Beach By. the Canarsie RR. and the South Brooklyn By.making
mortgages of 32.000.000. $2.000,000 and $4.000,000,respectively.to secure
certificates of indebtedness issued by those companies to the Brooklyn
Rapid Transit for moneys advanced for additions. betterments, &c. In
June 1907 Brooklyn Union Elevated authorized a mtge. for $20,000,000
and the Nassau Electric for $5.000,000 for same purpose; but in July 1908
Public Service Commission denied application for the approval of these let
•

[VOL. 104.

ELECTRIC RAILWAYS

14

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ELECTRIC RAILWAYS
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THE BROOKLYN RAPID TRANSIT SYSTEM

6

[Vol.. 104.

ELECTRIC RAILWAYS

ter two mortgages. See particulars V.87. p. 224. No bonds will be issued become merged in the Nassau Electric. Of the total of 315,000,000 bonds
under any of these mtges., which are created simply to secure the certifi- authorized, the unissued remainder (33,492,000) Is for prior liens. See
cates of indebtedness as issued from time to time. The certificates cannot listing application in V. 72, p. 342.
Coney Island & Brooklyn Bonds.-Of the $10,000,000 bonds auth. by
be issued at less than par and are deposited under the Brooklyn Rapid
mtge., $4,000,000 are reserved for prior liens and $3,768,000 are reserved
Transit first refunding mtge. V. 84, p. 1181. 1246, 1550.
Stock Increase.-On Jan. 3 1913 increased its auth. stock from $45,000,000 for ext. and imps. No sinking fund, and bonds cannot be called.
to $90,000,000. The new stock was issued from time to time up to July 1
MILEAGE.-The system includes:
1st
1914. exclusively for the conversion of 4% bonds of 1902. V. 96. p. 61.
Sidings.
Total
2d
In Feb. 1917 applied to P. S. Comm. for auth. to issue $299,543 addi&c.
m.
Track.
Track.
Nametional Brooklyn Queens Co. & Suburban RR. bonds.
0.198
2.134
Brooklyn Heights RR
4.183
1.851
22.713 229.129
City RR
105.688 100.728
Interest. Outstanding. Maturity. Brooklyn
STOCK AND BONDS- Date.
3.223 61.922
29.712 28.987
Queens Co.& Suburban RR
$74,455,213 Apr '17, 154 Bklyn.
Q-J
Stock.$90,000,000 ($100)---8.079 141.872
67.776
Nassau Electric RR
66.017
83t_459.000 July 1 2002 Coney
Brook Rap Tr 1st ref mtge, 1902 4 g J4
Island & Gravesend By.
7.486
.348
3.950
3.188
3150,000,000. gold_ &Stilt Central Trust Co., N. Y., trustee. Coupon South
4.219
Brooklyn Railway
.459
3.301
.459
bonds ($1,000); registered ($1.000,35.000) Prospect
26.935
Park & Coney Island RR
8.460
9.549
8.926
16,970,000 Oct 1 1945 Coney Island
Brook Rap Tran gold mtge, 1895 5 g A-0
& Bklyn. RR
52.144
7.039
22.897
22.208
c*ntf d Int. at Central Tr. Co., N Y., trustee.
17,000,000
York Consolidated RR. and
57,735,000 July 1 1918 New
B R T secured notes $60,000.- 1912 5 g J-J
54.203 54.172
New York Municipal Ry.Corp_ _
35.774 144.149
000 ($1.000). gold_ _ _ _c*tf Interest at Central Trust Co.. N.Y.. trustee Trackage on N.
Y.& Brooklyn BridgeBrooklyn City RR1.762
Rapid transit lines
3.755
.231
1.762
z925,000 May 1 1956
Refund mtge. $6,925,000 1906 4 g F-A
1.707
Surface lines
3.509
1.802
ntf Long IslandL & Tr Co, Bklyn, trustee.
on
Bridge
Trackage
Williamsburgh
.f..j
5
1891
1941
1
July
y4.373.000
1st consol M,$6,000 000ntt
.218
1.741
3.700
lines
Surface
1.741
5 A-0
250,000 Apr 1 1941
Brooklyn Heights Rft first 1891
15.079
43.899
14.410
tf Int.at People's Tr. Co., Brooklyn, trustee. N.Y.Mun. Ry.-Lessee City of N.Y. 14.410
mortgage, $250,000
e1,500,000 July 1 1941
Brooklyn Queens Co & Sub 1894 5 g J4
Total miles operated
316.083 306.156 104.663 726.902
first M,$3,500,000 -ntf Guar. Trust Co., New York, trustee.
EQUIPMENT, June 30 1916.-4,813 cars. Closed cars, 1.518; open
First consol M,guar p & 1 1894 5 g M-N m2,834.000 July 1 1941
cars, 1,178; convertible, 669; semi-convertible, 892; miscell., 556; total,
(end), $4,500.000_ _ ntf Central Trust Co., New York, trustee.
Jamaica & Brook RR first 1889 5 g J-J
J232,000 Jan 1 1930 4,813. On Dec. 14 1916 the P. S. Comm. ordered the co. to provide, as
quickly as possible, but not later than Feb. 1 1918. 250 new surface cars of
mortgage,$240.000- t 'Central Trust Co., New York, trustee.
16.000,000 Feb 1 1950 the centre-entrance, stepless type, with seating capacity for 58. V.10343.2340
Brooklyn Union Kiev 1st M, 1899 5 g F-A
tf Int. at Central Tr. Co., N. Y., trustee.
guar. $16,000,000
REPORT.-The annual report for 1915-16 will be found in V.103.p.401.
7,000,000 Aug 1 1949 413. Operations of Coney Island & Brooklyn included from Jan. 1 1914.
Kings Co Elev first mtge. 1899 4 g F-A
$7.000,000(31.000).g(gu)ntt Int. at Central Trust Co., N. Y., trustee.
Passengers carried during the year ended June 30 1916,728,465,567, against
p10.347,000 Jan 1 1951 689,822.507 in 1914-15.
Nassau El RR Co cons M 1898 4 g J-J
bonds($1,000),$15,000,- Guaranty Trust Co., N. Y. trustee. Bonds
cs&rtf guar. by end. by Bklyn. Heights RR.
INCOME ACCOUNT BROOKLYN RAPID TRANSIT AND CON000
F A-0
660,000 Apr 1 1944
STITUENT COMPANIES-YEARS ENDING JUNE 30.
First mtge bonds(closed) tf 1894
1914.
Hamilton Trust Co., N. Y., trustee.
Revenue1915.
1913.
1916.
5 g A-0
c2,241,000 Aor 1 1931 Transportation
$27,557,279 $26,096,265 325,246,453 $23,865,260
Atlantic Ave. gen mortgage 1891
ntf Brooklyn Trust Co.. trustee.
331,421
311,797
391,493
Miscellaneous
287,028
gold (closed)
220,000 Jan 1 1934
Atlantic Ave improvement, 1894 5 g J-J
Total
$27,948,772 826,427,686 $25,558,250 824,152.288
tf Central Trust Co.. New York, trustee.
gold (closed)
Expenses121.000 Oct 1 1933 Maintenance of way
B. B. & W. E. generalj 1893 5 g A-0
$2,485,421 $2,391,815 $2,021,647 $1,678,124
tf Franklin Trust Co.. N. Y., trustee
gold. $121,000
2,315,990
2,202,208
Malnt. of equipment.._.. 2,508,370 2,401,841
n2,265,000 Jan 1 1966 Operation of power plant 1,725,308
N Y Mun Ry Corp 1st Mtge 1912 5 g J-J
1,463,284
1,421,123
1,553,178
York.
Interest
and,
New
at
Co.,
Trust
Central
3100,000.000 ($1,000
6,216,155
cars
of
5,635,457
6,942,972
6,532,265
Operation
Trustee.
c*&r tf
$500) gold
828,742
884,237
925,121
922,260
& legal exp
81,987,000 July 1 1948 Damages
Coney Tel & Bklyn 1st consol 1898 4 g
822,857
746,871
797,652
819,754
General expenses
M $2,1300.000 gold_ ___ntf Mercantile Trust Co., New York. Trustee. Freight & mail expenses
325,055
338,414
302,103
264,324
k1,500,000 Jan 1 1955 Amer. By. Traf. Co. exp.
Consol mortgage $10.000.- 1904 4 g J-J
823
1,112
6.961
854
Trustee.
York,
New
Mercantile
Co.,
Trust
_c*tf
_
(81.000)
000 gold
1,752,880
1.700,035
1,837,683
1,750,083
h1,993,000 July 1 1939 Taxes
Bklyn City & Newtown 1889 5 J-J
317.531,591 $16.660,416 $15,747,433 $14,583,539
Total
1st M $2,000.000_ _ -ntf Mercantile Trust Co., New York. Trustee.
310.417,181 39,767,270 $9.810,817 39,568.749
Net earnings
5%
438.062
Real estate mortgages.....
438,715
451,772
438,706
Other income
339,947
Rental payments in addition to payment offixed chargesBrooklyn City RR. stock, 312,000.000, 10% Q.-J. 15, 999 yrs.$1,200.000 • Total income
$10,855,887 310,205,985 $10,262,589 $9,908,696
45.000 Fixed charges (net)
Prospect Park & Coney Island RIt.. yearly rental
5,244,055 4,693.424
c Atlantic Avenue general mortgage 5s of 1931 were subject to call in
Surplus
$5,611,832 $5,512,561 $5,315,705 $4,496,928
1909. but many of them (how many is not known) have been stamped. Dividends
(6%)4.467,318(6)4,467,318(6)3,660,048(5302440770
releasing them from the liability to call.
Balance
$1,144,514 $1,045,243 31,655.657 32,056.158
d The Central Trust Co. of New York was trustee of this mortgage until
Fixed
Balance,
Gross
Other
Net (after
Oct. 1903, when the Colonial Trust Co. (since consolidated with the Trust 9 M03. end.
Charges.
Income.
Surplus.
Mar. 31- Earnings.
Taxes).
Co. of America-the latter being merged into Equitable Trust Co.) was
1917
821,878,135 $7,467,428 $334,324 $4,229,661 $3,572,091
substituted.
20,606,405 7.605,919 339.519 3,772,900 4,172.448
1916
e Not including $2,000,000 held by Brooklyn Rapid Transit Co.
f Not including $8.000 owned by B. R. T. Co.
OFFICERS.-Pres..Timothy S. Williams; Chairman of Board,Nicholas
h Not including $7,000 held in treasury.
F. Brady; V.-P. & Treas.. C. D. Meneely; V.-P., Slaughter W. Huff; Sec.,
k Not including 8732,000 owned by B. R. T. Co.
J. H.Bennington; Comp.,Howard Abel. Offices,85 Clinton St.. Bklyn.
1 Not including 330.000 owned by B. R. T. Co.
-V. 103, p. 146. 238, 401, 413. 843, 2340; V. 104, p. 361, 862.
m Not including $50,000 owned by B. R. T. Co.
COMPANIES CONTROLLED BY BROOKLYN RAPID TRANSIT CO.
n Not including $57,735.000 owned by Brooklyn Rapid Transit Co.
p Not including 81,161.000 owned by B. R. T. Co.
(1) New York Consolidated RR.
s Not including $13,000 held in treasury.
ORGANIZATION.-Incorp. at Albany on Nov. 30 1912 as a consolidaz Entire amount owned by Brooklyn Rapid Transit Co.
tion of the Brooklyn Union Elevated RR.. Sea Beach By. and Canarsie
y Not including $1,627,000 owned by B. B.T.Co.
RR.
V.95, p. 1608. Brooklyn Rapid Transit owns or controls $13,430.Co.
T.
R.
B.
by
owned
$22.627.000
s Not including
Stock.-In the reorganization of the Long Island Traction, the old $30,- 831 out of the $13,900.000 common stock and 34.785,985 out of the $5.000,000 stock paid an assessment of $10 per $100 share, the old stock being 000,000 preferred stock.
Owns all the outstanding stock of the N.Y. Municipal Ry. Corp.(which
reduced to $20,000.000. and 37.000,000 of 5% bonds being authorized.
holds the contracts made with the City of New York in 1913 for the operaagainst $3.000,000 of Long Island Traction.
of subways. &c.) and guar. its bonds. p. dr 1. jointly with B. R. T.
tion
Dividends.-First div., 1%. paid April 1 1909; July, 1%; Oct.. 1%. In
Lease.-All rights. &c.,of the N. Y. Municipal 14. Corp. under its con1910. 434%; in 1911 and 1912. 5%; in 1913. Jan., 134%; Apr.. 131%; in tract with the city have been leased and assigned to the New York Consolisame
quer.
incl.
and
rate
to
since
Apr.
1917 dated RR. For terms,see statement of N. Y. Municipal Ry.Corp. below.
July increased rate to 134%;
Interest on Bonds Where Payable.-Interest on the Brooklyn Rapia
The New York Consolidated in 1915 leased for 999 years the Nassau
Transit mortgage of 1902 for $150.000,000 and the two Elevated issues is Electric RR.'s terminal at Coney Island, the consideration being $226,000
payable at the Central Trust Co.:on the Brooklyn City RR.refunding bonds upon delivery of lease and $100 per annum from Aug. 1915 which the New
at company's office; on the Nassau Electric bonds. including Atlantic Ave- York Municipal Ry. Corp. was authorized to charge against the cost of
nue and West End issues, at the Central Tr, Co. N. Y.; on the Brooklyn construction under the dual system contracts. See V.101,p.447. ConQueens County & Suburban mortgages and the Jamaica & Brooklyn first tract for construction of new terminal was let in March 1916. It is to be
mortgage at the Brooklyn Trust Co., Bklyn. On the B. R. T. secured completed in 2 years.
Favorable Decision.-In Apr. 1916 Supreme Court Justice Erlanger held
notes of 1912 and on N. Y. Mun. Ry. Corp. 1st M. bonds at Central Trust
Co. Int. on all Coney Isl. & Bklyn. bonds is payable at Central Trust Co., that under the contract with the city, dated Mar. 19 1913, the co. was
relieved from the obligation of paying tolls for the operation of cars over
N. Y. On Bklyn. Heights RR. 1st M. at Peoples' Trust Co.. Bklyn.
Williamsburgh Bridge. City has appealed from decision.
Secured Notes.-The notes are secured by pledge of equal amount of theDivision
of Earnings with City.-As the New York Consolidated holds.
1st M.5s of the New York Municipal Ry. Corp. and $10,000,000 B. R. T. under assignment and lease, all the rights acquired by the New York Municias
deposited
notes
for
are
security
notes
of
Proceeds
bonds.
cony. 4% ref.
In the latter's contracts with the city, all the earnings will
Corp.
Ry.
pal
until expended. The notes were cony.,$ for 3,into 1st M.5s of the Municito it. The division of earnings will be on the following basis'
pal By. prior to Jan. 1 1916, since which date they are red. at co.'s option accrue
company.
the
To
33.500.000. as representing the net earnings of the
1.
of
$2,265,000
the
notes
notice.
at 101 and int.on any int.day on 90 days'
railroads which are to form part of the new rapid transit system.
were converted into N. Y. Municipal Ry. Corp.'s 5% bonds. See V.94.1". existing
Out of this reservation the company pays interest charges on capital in1964, and V. 101, p. 1188.
vestments prior to Mar. 19 1913 in the existing railroads.
Mortgage for $150.000,000.-Stockholders authorized March 20 1902
2. To the company.8% on its new investment in construction and equipfirst refunding 4% gold convertible bonds for 8150.000.000. 859.304.000 to ment prior to the beginning of permanent operation and thereafter interest
retire all the then existing bonds of the system (including the $7.000,000 and 1% sinking fund.
Br. Rap. Transit 5s), and the rest for improvts., add'ns and acquisitions.
3. To the city.Interestand 1% sinking fund on its investment in cost of
as needed from time to time. The mortgage provides that a fund of $5,- construction.
000,000 in bonds or their proceeds be at all times at the disposal of the com4. Any surplus remaining, after making provision for a moderate continpany for the purposes mentioned. See V. 74. p. 377. As this fund is re- gent reserve fund, is to be divided equally between the company and the
duced for any of the purposes authorized, more bonds may be authenticated city. The company's preferential payments are to be cumulative.
by trustee and delivered to the company on its order. These bonds were Results of Temporary Operations of Lines Under Contract with the City.
convertible into stock, par for par, before July 1 1914. and $29,619.000 were
Year End. Year End. Aug. 4 '13
so converted. They are subject to call on any interest day until the year
June 30 '16. June 30 '15. to June30'16
2000 at 110 and interest; after that at par and interest. See listing applica- Total revenues
$9,903,520 $8,560,556 $26,295,067
tions in V. 81, p. 1856. 1857. for list of securities pledged for the bonds; also Total deductions
35,979,053 $5,295,281 16,129,565
listing applications in V. 82. p. 517: V. 83. p. 1122: V. 85. p. 1523; V. 86. Company's preferentials
3,591,001 10,952,407
4,165,959
p. 923; V. 90, p. 786. The $650,000 Sea Beach By. 4% bonds due Sept.
The
V.
T.
R.
843.
P.
B.
the
103.
by
maturity
at
up
taken
1 1916 were
$27.081,972
$8,886,282
$10.145,012
Total
B. B. & W.E. 1st 5s due Apr. 1 1917 were also taken up by the B. R. T. Deficit in co's preferentials
$241,492
3786.905
8325,726
at maturity.
Int. paid by city on its cost of constr'n
Bonds.-Of the 37.000,000 50-year gold 58 of the Brooklyn Rapid Transit.
of property placed in operation plus
1,318,728
404,661
604,006
33,000,000 went to stockholders for assessment. For description of propsinking fund of 1%
erty covered by the mortgage. see V. 62. p. 1138. See also V. 67. p. 904.
$730,387 $2,105,633
$845,498
Brooklyn City RR. mortgage of 1891 is for 36,000.000 and is a first lien
Total deficit
on the old Brooklyn City road and a consolidated lien on the lines acquired
Deficits in city's charges during temporary operations to be added to
by consolidation in 1890. Of the 36,000,000 issued, $4.373,000 are in the the cost of construction of city-owned lines.
hands of the public and the balance is held in the guaranty fund. The
Interest. Outstanding. Maturity.
STOCK AND BONDS- Dale.
bonds are subject to call.
313,900.000 Mar'17.2
;-M
stock.813.900.000(81OO)
Stockholders of the Brooklyn City RR. July 10 1906 authorized a new Corn
5,000,000 Mar '17,2
Pref stock, 4;5,000,000 (3100)- -M
mortgage for $6,925.000 to provide for refunding. V. 82, p. 1437. These Bklyn Un El
16,000.000 Feb 1 195
g
1899
F-A
1st
$16,000,M,
bonds are subject to call at 110 and interest.
Trust
Co., New York.
Interest
Central
at
1905.
till
4%
gold.
000.
The total authorized issue of first consolidated mortgage gold 5s of the
Trustee.
tf
since 5% (81,000)
Brooklyn Queens County & Suburban RR. Is $4,500,000, of which $1.616.- Kings
7,000,000
gold,
M.
1899
Aug 1 1949
F-A
g
4
1st
El
County
000 are reserved for extensions, on which they will be a first lien. Of the
37.000.000 ($1.000)_c*ntf Int. at Central Trust Co., N. Y., Trustee.
82.884,000 outstanding, $2,255,000 in 1898 were endorsed with the guarRR.
Kings
Elevated
County
Brooklyn
the
and
of
Union
-Bonds
Bonds.
Jan.
in
and
interest,
and
prin.
to
anty of the Brooklyn Heights RR. Co. as
guaranty to be stamped
1899 provision was made for guaranteeing the remainder upon the payment companies are guar. p.& I. by Bklyn. Heights RR.,
with
began
bonds
stamping
In
1002
presentation.
Feb.
upon
bonds
upon
call
from
to
subject
are
loans
1916.
S.
&
0.
Q.
B.
Both
bond.
per
of $10
The Nassau El. 1st cons. M. bonds are guar. (by end, on each bond) guaranty. Certain days each month are designated for stamping. See
by the Brooklyn Heights RR. Besides covering the mileage directly owned V. 104. p. 162. Both issues are listed on N. Y. Stock Exchange. The
they are a lien by a supplemental agreement upon the stock of the Coney 3650.000 Sea Beach Ry. 4% bonds due Sept. 1 1916 were taken up at maIsland & Gravesend Ry. and will become a direct lien on this line should it turity by the Brooklyn Rapid Transit Co.




9

9

9

9

MAY, 1917.]

ELECTRIC RAILWAYS

DIVIDENDS.-The first div.,of 2%.on the old Bklyn. Union Elevated
RR.pref.stock was paid June 29 1901;in 1902 and 1903.3%;in 1904.3A %
in 1905. 4%;in 1906. 4A %;in 1907 to 1911. incl., 5% per annum: in 1912
June, 2A %; Dec.. 6%. On corn., 1st div., 5%. paid June 10 1910; Dec..
2%. In 1911, 5%. In 1912. June, 2A%; Dec., 6_%.
In Nov. 1912 became part of the N. Y. Consol. RR. Divs. on both
classes of stock of the latter have been as follows: In 1913. June, 5%;
%. In 1915 and since. 10%.
Sept., 1N: Dec., 13i• In 1914.
ROAD.-Embraces 188.048 miles of rapid transit track. The New York
& Brooklyn Bridge has 3.755 miles of track in addition. When all the lines
embraced in contract with the city have been completed, will consist of
,
5 miles of track, including trackage rights over the Astoria
approximately 2
and Corona Co.Queens County) lines enjoyed mutually with the Interbor(nigh R. T. C
John H. Hallock; V.-P. & Treas., 0. D. Meneely
OFFICE Rs
.-Pres.. Comp., Howard Abel.-V.95. p. 1207. 1274, 1608
Sec.. J. H. Bennington;
V. 96. p. 360. 653; V. 103, p. 844.
(a) New York Municipal Railway Corporation. (See Map Page 16.)
ORGANIZATION.-Incorp. in N. Y. on Sept. 27 1912 to operate the
enlarged transit system (elevated roads and subways) covered by the agreement between the company and the city, and to construct and own such
parts of the system as are scheduled for private rather than public ownership. V. 95. p. 818. The lines to be constructed by the city are to be
leased to the company for a period of 49 years from Jan. 1 1917 and are to
be operated by the company in connection with the existing railroads of the
New York Consolidated RR Co.(as enlarged and extended) as one system,
and for a single fare. The City-constructed lines may be recaptured by the
city after 10 years upon payment to the company of a fixed percentage of
the latter's investment in construction and equipment (115% at the end of
10 years and a gradually diminishing amount in succeeding years), so that
the company will receive an amount which, with the accumulations of its
sinking fund will at least make good its investment.
.
In March 1913 the P.S.Commission approved a contract with the Brooklyn Heights RR. for the use of the Lutheran Cemetery line. This line was
elevated and was placed in operation Feb. 22 1915. V. 100. p. 732.
LEASE TO N. Y. CONSOL. RR.-On Mar. 26 1913 the P. S. Comm
sanctioned the lease and assignment to the N. Y. Consol. RR. of all rights
under the contract with the city respecting new rapid transit lines. (See
V. 96, p. 360, 947). The company also transferred to the N. Y. Consol.
RR. the certificates for extensions and additional tracks, as well as certain
real estate in Brooklyn and the above-mentioned contract with the Brooklyn
Heights RR. regarding the Lutheran Cemetery line. The lease calls for
6% dividends on the N. Y. Municipal Ry. Corp. stock.
The Municipal Ry. Corio, agrees to furnish all the money necessary to
carry out the terms of the dual system contracts and has the option of doing
all the construction work and acquiring all the equipment, or of requiring
the Consolidated Co. to do so on reasonable notice.
In August 1913 the P. S. Commission granted authority to issue $400,000
additional stock,of which $100.000 was issued in April 1915.Up to May 1917
only $200.000 stock out, all owned by
New York Consolidated RR.
In March 1916 the co. applied to P. S. Comm.for auth. to issue $697,500
additional stock to reimburse the B. R. T. for commissions and fees for
counsel paid out in connection with the dual subway system financing.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
---All owned by N. Y Consol. RR.--Stock. $2.000.000 ($100)
First mortgage, S100,000,0001 1912 5 g J-J
$2,265,000 Jan 1 1966
($1.000& $500),g_c*Scr_ti l Int. at Central Trust Co.. N. Y.. Trustee.
Bonds.-Guar., p. &
by B. R. T. and N. Y. Consol. RR.$ 60,000,000
were issued and pledged as security for B.R.T. secured notes. $2,265,000
of said notes were converted into bonds of this issue. Right of conversion
terminated Jan. 1 1916. Semi-annual sinking fund after July 1 1918
(minimum, .3175%; maximum. A %). Bonds are subject to call as a
whole, but not in part, except for sinking fund, at 107% on 90 days' notice.
See V. 101, p. 2072. Listed on N. Y. Stock Exchange in June 1916. V.
102, p.2255.-V.96, p.360,863,947. 1773; V. 101, p.2072; V.102, p.2255
(2) Nassau Electric Raliroad.-A trolley road.
ORGANIZATION.-Chartered Mar. 13 1893 under the laws of New
York. Opened in July 1895 and in April 1896 leased the Atlantic Avenue
RR.. &c. As stated above, the Rapid Transit Co. owns or controls all
of the $8,500,000 common stock of the Nassau Electric and $6,394.375
out of the $6.500,000 preferred stock.
Was formerly leased for 999 years from April 1 1900 to Brooklyn Heights
Railroad, but, coincidently with a decision compelling the issuance of
transfers from one leased line to another (V. 79, p. 102). the lease was terminated on June 30 1904. For order requiring universal transfers, effective
June 1 1914, see "Brooklyn Rapid Transit Co." further above.
For lease of Coney Island terminal to the N. Y. Consol. RR..see remarks
under that company above and under Brooklyn R.T.Co.In V. 101, p.447.
STOCK AND BONDS- Date.
interest. Outstanding. Maturity.
Common stock, 58.500,000,.,_
$
Preferred 4% cum,$6,500,000
M-N
8:5
5010On
see text
Bonds.-For details see Rapid -Transit statement 6
above.
ROAD.-Embraces 141.872 miles of single track.
Atlantic Avenue RR. (now part of Nassau Electric)owned the double
track steam road (since converted to electricity) from Jamaica to Flatbush
Avenue Station in Brooklyn, 94 miles (19 miles of track), which is leased
for 99 years from June 1 1877 to the Long Island RR. Co. affording that
company entrance into the city of Brooklyn-rental, formerly a percentage
of receipts, was changed in 1895 to $60,000 yearly. V. 61, p. 828. Litigation has arisen with Long Island RR. regarding the use of Atlantic
Avenue. See V. 74, p. 1139. In Oct. 1910 N.Y.Court of Appeals decided
that the city had the right to tear up rails, but city has taken no action
looking to the exercise of the right.
DIVIDEND.-First city. on pref. under lease was paid Dec. 311900.4%
1901 to 1907 incl., 4% per annum; in 1908, Nov.. 2%; in 1909, Nov.2%
in 1910 and 1911,4%;in 1912. MaY.2%; Nov.,2% reg. and 4% on account
of arrears. In 1913, May, 2%; Nov.. 4%;in 1914 and since, 4%•
(3) Coney Island & Brooklyn RR.
In Dec. 1913 the Coney Island & Gravesend By.(subsidiary of the Bklyn.
Rap. Transit) received permission from the P. S. Comm. to acquire 26.370
shares of the stock of this company. Bklyn. Rap. Tran. Co. owns $625.000 consol. mtge. bonds of 1904.
ORGANIZATION.-Chartered Dec. 10 1860. Cars commenced
run
fling over the Brooklyn Bridge Feb. 15 1898. See V. 66, p. 383.
Brooklyn City & Newtown was leased in Nov. 1897 for 999 .years.' In
stock
of
the
acquired
all
that
1900
company, but legal proceedings completing merger with Coney Island & Brooklyn were not effected
until 1910.
STOOK AND BONDS- Date. I!t_effst. Outstanding. Last dity..&c.
$100)
_
_
(par
$3,500,000
Stock,
$2,983,900 Mar'17. 1 A
First consolidated mortgagel 1898 4 g J-J
z1,987.000 July 1 1948
ntf
$2,000,000, gold
Mercantile Trust Co., Now York, Trustee.
mortgage,$10,000,000
1904
4 g J-J
Consol
y2,125,000 Jan 1 1955
c*tf
gold ($1,000)
Mercantile Trust Co., Now York, Trustee.
Brooklyn City & Newtown 1889 5 ,j_j
21,993,000 July 1 1939
$2,000,000_
ntflMercantile Trust Co., N. Y., Trustee.
first mort
5%
Real estate mortgages.._ ----288.062
z Not including $13,000 held in treasury.
held in treasury.
V Not including $107,000
z Not including $7,000 owned by 0. I. & B. R. R. Co.
Bond Interest.-Int. on all above bonds payable at Cont. Tr. Co., N. Y.
Bonds.-Of the $10,000,000 consol. mtge. bonds of 1904 auth. by mtge.,
$4,000,000 are reserved for prior liens and $3,768,000 are reserved for exts.
and impts.; $107,000 in treasury. No sinking fund and bonds cannot be
ROAD.-First track. 22.897 miles; 2d track. 22.208 miles; misc. track,
7.039 miles; total open. 52.144 miles. 460 passenger and 26 service cars.
DIVIDENDS.-In 1895, 670: in 1896. 5%;in 1897,67
0; in 1898, 8}4%•
V.67,p. 955. In 1899 and 1900, 10%; in 1901, 13 %;in 1902. 1903
and
1904, 16%; in 1905, 10%; in 1906. 8%; la 1907, Fob., 2%. None thereafter to Jan. 1914, when 6% was paid. In 1915, Jan., 6%; June, IA
%*
Dec., 3%. In 1916, 6%• In 1017, March, 13/%.
OFFICERS.-Pres., S. W.Huff; V.-P. & Treas., C. D. Meneely; Sec.,
J. H. Bennington; Comp., Howard Abel.-V. 97, p. 1898; V. 98, p. 235,
303, 386; V. 99, p. 1214.
(4) Prospect Park & Coney Island RR.
ORGANIZATION.-In Oct. 1915 the P. S. Comm. auth. the South
Brooklyn Ry. (controlled by B. R. T.) to purchase at $200 per share the I
1,788 A shares owned by the L. I. RR.and the minority holdings from time




17

to time as offered. V. 101, p. 1464. In May 1917 this transaction
was still pending. Road has been operated under lease at an annual rental
of $45.000. In consideration of a guaranty by L. I. RR., annual int. on
the greater Dart
art of Promo. Pk. & O. I.'s bonded debt was reduced from 6 and
77o to 434 o. S V. 56, p.42' V. 62, p. 187. All the 2d M.6s, $202.850
of income s and $80,000 of 1st M.6s are owned by L. I. RR.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
Stock, $100
$250,000
Second mortgage, now first 1886
454 F-A
340.000 Feb 1 1926
($1,000 each)
c*Str 1886 6 F-A
160,000 Feb 1 1926
Third mortgage, now second. 1891
96,000 Mar 1 1931
454 g M-S
gold ($1,000 each) c*&r 1891
6 M-S
104.000 Mar 1 1931
Interest on above mortgages payable at office of Treasurer of Penn. RR..
N. Y. City.
Income bonds. non-cum
250,000 May 1 1920
1880 6 M-N
ROAD.-Embraces 8.549 miles of first track. 8.926 m. second track
8.460 m. sidings, &c.; total, 26.935 miles.
EARNINGS.-Now included in those of B. R.,T.-V. 101, P. 1371.
MANHATTAN BRIDGE THREE-CENT LINE.
ORGANIZATION.-Incorp. in New York. Began operat'g in Sept. '12.
Franchise to operate from Flatbush Ave. (Brooklyn) to Manhattan
approved by the P. S. Comm. on Aug. 14 1912.-V. 94.p. 912; V.95,p. 420.
For two decisions handed down by the Appellate Division of the Supreme
Court favorable to the company, see V. 97. p. 1733.
STOCK.-Authorized, $1,000.000; outstanding, $450,000.
Dividends.-Initial quer.dividend of 154% paid Mar. 1914(V.98. p.523);
same rate quer. to and incl. March 1916. None since.
ROAD.-Operates 4.14 miles of track from Canal St. and Bowery,
N. Y., over Manhattan Bridge. through Flatbush Ave. extension to Fulton St., Bklyn. 19 cars.
EARNINGS.-For years ending June 30:
Year end. Gross
Other Taxes,Rentals. `DivfNet
Balance.
June 30- Earns.
Earns. Income.Amortiz'n,&c. dends.
Deficit.
1915-16_4128 670 316,962 $2,070 $24,136 (434)520,250 $26.354
1914-15._ 136,498 42,959 5,126
22,889 (6%) 25,977
781
Total deficit, June 30 1916,$17,453. Passengers carried during 1916-16.
4,908.477, again.st 5,215,728 in 1914-15.
OFFICERS.-Pres., Fred'k W. Rowe; V.-Pres., Frederick D. Mackay
and Chas. J. Edwards; Sec., Walter Hammitt; Treas., Ed. T. Horwill.V.96, p.285, 1557. 1840: V.97.p. 1733; V.98, p.523.
VAN BRUNT STREET & ERIE BASIN RR.-A trolley road.
ORGANIZATION,&c.-Chartered Feb. 15 1861. Stock. 5200.000, all
issued; par, $10. Bonds, $75,000 1st mtge. authorized; $31.000 out.
Track, 2.32 miles, changed to electricity in 1898. 6 pass. cars. For year
ending June 30 1916,gross,$58,045; net,after taxes,$19,462: other income.
$587; interest, &c., $1,950; surplus, $18,099.
OFFICERS.-Pres.. John F. Murphy; V.-P., D. W. Sullivan; Sec. and
Treas.. Wyliys Terry. Office.*264 Van Brunt St.. Brooklyn, N. Y.

BUFFALO, N. Y.
BliFFALO & LAKE ERIE TRACTION CO.-A trolley road.
Receivership.-On application of the New York Trust Co.. mortgage
trustee, Justice Brown in the Supreme Court at Buffalo on July 7 1915.
appointed Geo. Bullock receiver. V. 101, p. 129.
Default.-The company having defaulted on the int. due Nov. 1 1912 on
the first and ref. M. 5% bonds (subsequent coupons also defaulted),
a protective committee requested the bondholders to deposit their bonds
with Equitable Trust Co., 37 Wall St., N. Y., as depositary, or the Girard
Trust Co. of Phila. as sub-depositary.
The aforesaid committee also drew up a plan of reorganization (see
V. 97. p. 297, but in Dec. 1913 the plan was abandoned.
ORGANIZATION.-Incorporated in New York and Pennsylvania in
Dec. 1906 and is a consolidation of the Hamburg By., the Dunkirk & Fredonia RR., the Buffalo Dunkirk & Western RR., the Lake Erie Electric
Traction Co. and the Erie Rapid Transit Co. Leases the Erie Electric
Motor Co.for 999 years, which company leases the Erie City Passenger Ry.
for 999 years from Oct. 1 1888 and the Erie Reed Park & Lakeside Street
Ry. for 999 years from March 1 1901. In 1909 leased the Buffalo &
Lack. Trac. Co. for 999 years. V. 88, p. 1001. Also owns all the stock
of this company,and guarantees the bonds. Also owns all stock ($750.000,
all out) of the Dunkirk St. By., which company has a franchise in Dunkirk
and has built about 5 miles of track.
The Niagara & Erie Power Co. Is controlled by the Buff. & Lake Erie
Trac. Co. and the Niagara Lockport & Ontario Power Co. Interests, and
its bonds are guar.. p., i. & sk.fd., one-half each, by these two companies.
In April 1917 the receiver petitioned the County Court at Erie, Pa., for
permission to issue 3944700 receiver's certificates to provide funds for
improvements and extensions.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common,55.000.000
$5,000,000
Pro!, 59' $2,500,000. cum}
2,500.000
from July 1909
1st and ref mtge, $12.000,- 1906 5 g M-N
7,066,000 Nov 1 1936
000, gold (31,000)- _c*tf Interest at New York Trust Co., Trustee,
Erie ECM 1st mtge.517)0.000 1889 6 g
148,000 Jan 1 1919
($1,000), gold
c tf Central Trust Co.. trusie
01 00
,. No
ewJa
Ynork1C
119
%.
Erie El M 2d mtge. $150,000 1892
g J-J
($1 0).,
ctf Central Trust Co.. Trustee, New York.
gold
Erie El M 1st ref sink fund, 1901
5 g A-0
1,000.000 Apr 1 1941
$1.250,000, gold ($1,000). Interest" at New York Trust Co.. Trustee.
New York City.
Cannot be called
c*tf
Hamburg Ry 1st M. $750,- 1906 4 g M-N
745,000 Nov 1 1926
000, gold ($1.000)
tf Int. at Equitable Trust Co., N. Y. Trustee.
Dun & Fred ref M,3100,000, 1902 5 g J-J
39,000 Jul 1 1952
gold ($100, $500 & $1,000) Fidelity Trust Co., Buffalo, Trustee.
5 J-J
Niagara & Erie Pow 1st M, 1911
510.000 Jan 1 1941
$1,250,000g(s1,000)gu p&i Guaranty Trust Co.. New
30.00
0Yoo
rk, Trustee.
Receiver's certificates
6%
Bonds.-Of the $12,000,000 new bonds, $2.034.000 are reserved to take
up a like amt. of underlying liens. These new bonds are subj. to call on any
Int. on the 1st and 2d mtges. of the Erie El. Motor
int. date at 110 and in
Co. is paid by Kountze Bros., N. Y. The Erie El. Motor ref. bonds are
secured by deposit of entire stocks of the Erie City Pass. By. and the Erie
Reed Park & Lakeside St. By. A sink,fd. of 1% ann. on these bds. began
Apr. 1 1906 and was increased to 154% in 1916. The Hamburg By.
bonds are no longer subject to call. The Dunkirk & Fredonia refunding
mortgage bonds are subject to call on any interest date at 103. The
Niagara & Erie 1st M. bonds are subj. to call, any or all, on any int. day
at 105. Sk. fd. from Jan. 11916, 154'. of bonds auth. Bonds are guar..
p., I. & sk. fd., by Buff. & Lake Erie Trac. and Niag. Lockp. & Ont.
Power Co., one-half by each. V. 92, p. 530.
EARNINGS.-For year end. Dec. 311916, gross earnings. $1,599,872;
not, after taxes. $513,755; deficit, after deducting all interest charges (incl.
int. on Buff. & L. E. Trac. 5% bonds), &c., $110,171. In 1915, gross,
$1.262,941; net after taxes, $355,955.
ROAD.-Buffalo. N. Y.. to Erie. Pa.. and Lackawanna to Hamburg
N. Y., 99.31 m.; leased lines (Dunkirk St. By. 4.21 m.; Erie Elec. Motor
Co.,26.79 m.;Erie & Sub. By.,4.63 m.;Buff.& Lecke. Trac. Co.,5.02 m.).
40.65 miles-total, 139.96 miles, of which in New York (owned, 81.19 m,
leased, 9.23 m.),90.42 miles and in Pennsylvania (owned, 18.12 m.; leased.
26.79 m.: operated. 4.63 m.) 49.54 miles. Second track (owned. 16.78 ns.:
tossed, 16.88 m.; operated. 3.53 m.). 37.19 miles. Sidings, &c. (owned'
3.97 m.; leased, 4.43 m.; operated. .47 m.), 8.87 miles. Total track operated (owned. 120.06 m.; leased. 57.46 m.; operated,8.03 m.), 185.55 m.
OFFICERS.-Receiver, Geo. Bullock; Pres. (vacant); V.-P. & Sec.,
M.D.Evans: Gen. Mgr., A. R. Myers: Treas.& Asst. Sec., A. F. Tideswell.
-V.97, p. 297; V. 101. p. 129; V. 103. p. 1117; V. 104. p. 1488.
(1) Buffalo & Lackawanna Traction Co.
•
ORGANIZATION.-Incorporated in New York in June 1906 to furnish
an entrance into Buffalo for Buffalo & Lake Erie Trac. Co. In April 1909
was leased to Buffalo & Lake Erie Trac. for 999 years. Stock $100,000, of
which 5.50.000 owned by Buff. & Lake Erie Trac. Co. and $50,000 in treasury. Has universal transfers throughout city of Buffalo through contract
with Internat. By. Co.

18

Interest. Outstanding. Maturity.
Date.
BONDS$1,160,000 Dec 1 1928
5 g_J-D
let mtge. $1,500,000, gold( 1908
($1.0W). guaranteed_ _c tflInterest at New York Trust Co., Trustee'
Bonds are subject to call at 110 and int. They have no sink. fund. Remaining bonds are reserved for betterments and extensions at 85% of cost.
Bonds guar. prin. and int. by Buffalo & Lake Erie Trac. Co. V.90, p. 235.
ROAD.-3.90 miles owned and 1.12 miles leased and used jointly with
Int. Rys. Co.; total, 5.02 miles. Began operating Dec. 22 1909.
OFFICERS.-Pres., It. E. Griscom; V.-1's.. M. D. Evans and M. W.
Dodge; Sec., M. D. Evans; Treas.. A. F. Tideswell.-V. 95. p. 1471.
BUFFALO & DEPEW RY.-A trolley road.
ORGANIZATION.-Incorporated on April 27 1897. Wm. B. Cutter
of Buffalo. N. Y., owns about three-fourths of the stock and the entire
$350.000 bonds.
Strike.-Operations were suspended from Nov. 15 to Dec. 18 1915, Inc.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$305,000
Stock,$350,000($100)_
350,000 Jan 1 1931
5 J-J
1901
Buff & D 1st M.
cal. year 1916, gross, $15,073; loss from operations.
$350,000__-Earnings.-For
$10.724. In 1915, gross, $15,084; loss from oper., $9,984.
ROAD.-Operates a double-track road from Buffalo to Depew. 13.59
miles of track; 75-lb. rail; 5 cars.
OFFICERS.-Pres., Wm. B. Cutter; Treas., R. A. Pilkington; Sec.,
Percy Eaton.-V. 79, p. 2695.
BUFFALO SOUTHERN RY. CO.-A trolley road.
Receivership.-Int. on bonds having been defaulted, N. A. Bundy was
appointed receiver Sept. 26 1913.
ORGANIZATION.-Incorporated in New York on Aug. 26 1904 and is
a consolidation of the Buffalo Hamburg & Aurora Ry. and the Buffalo
Gardenville & Ebenezer Ry. V. 79, p. 2146. Franchises perpetual. Has
trackage rights in Buffalo over tracks of the International Traction Co.
Strike.-The strike begun on May 24 1916 was called off Sept. 1 1916.
V. 103,p. 1031.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$547,200
Stock, $2,000,000 ($100)__ _
600,000 Oct 15 1934
5 g A-0 15
1st mtge, $2.000,000, gold{ 1904
c*_ntf Int. at Seaboard Nat. Bank, N. Y., or at
($1.000)
Fidelity Trust Co., Buffalo, Trustee.
BONDS.-No s. f., but from $50,000 to $100,000 bonds are subject to call
at 110 and int. on any int. date upon 3 months' notice. $1.400,000 bonds
reserved for future extensions and equipment.
EARNINGS.-For calendar year 1916, gross, $59,426 (operation suspended from June 1 to Sept. 2 1916 on account of strike). In 1915, gross,
$86,377. In 1914, gross, $85,470. In 1913, gross, $79,902.
ROAD.-Operates from Buffalo to Hamburg, East Hamburg and Orchard Park, 153i miles; also has a line from Buffalo through Gardenville
and Ebenezer to Lien's Park, 53i miles. An extension to East Aurora,
15 miles, is under construction, 53i miles completed. 60-1b. T and 80-lb.
girder rail.
OFFICERS.-Pres., Wm.J. Wheeler, Bklyn., N. Y.; V.-P., A. S. Milldigg, Bklyn.; Sec. D. K. Haffington, Orchard Park, N. Y.: Treas. & Gen.
Mgr., N. A. Bundy, Buffalo.-V.86, p. 419; V. 103, p. 1031.
BUFFALO & WILLIAMSVILLE ELECTRIC RY.
ORGANIZATION.-Incorporated in New York July 1 1891. In May
1904 auth. capital was increased from $75,000 to $3.500,000, and in July
1904 new mtge. for $3.500,000 was made to provide extension to Rochester.
In May 1914 Batavia Traction Co. purchased the tracks, rolling stock,
property. &c., of this company in Batav,a. V. 99, p. 269.
'Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$75,000
Stock ($3,500,000 authorized)
168.500 July 1 1944
5 g J-J
1st mtge, $3,500,000, gold( 1904
($500 and $1,000)__c*&r*lInt. at City Trust Co., Buffalo, Trustee.
Bonds.-Are subject to call on any interest date at 105.
EARNINGS.-For fiscal year end. June 30 1916, gross, $36,859; In
1914-16, gross, $35,848.
ROAD.-6.65 miles of track. Buffalo to Williamsville. Rails 85-lb. T.
Gauge 4 ft. 8.4 inches.
OFFICERS.-Pres., L. L. Lewis Jr.; V.-P. and Gen. Mgr.. L. L. Grove;
Sec., Godfrey Morgan; Treas., L. K. Warnick.-V. 99, p. 269.
INTERNATIONAL TRACTION CO.
The United Gas & Electric Corp. (see statement of company under New
York) owns over 60% of Internat. Trac.Co.com.stock. V.94, p. 1383.
ORGANIZATION.-Organized on Jan. 18 1899 under N. J. laws and
acquired all the electric railways connecting the cities of Buffalo, Niagara
Falls, Lockport, North Tonawanda and Tonawanda, together with all the
street railway systems in all of said cities; also the electric railway connecting
the villages of Depew and Lancaster with Buffalo. It also acquired the
Canadian Electric Railway, traversing the entire length of the Queen Victoria Niagara Falls Park and connected it with the American system by the
acquisition of the steel arch bridge at Niagara Falls and the Suspension
Bridge between Queenstown and Lewiston, which bridges have been
equipped with trolley tracks. Owns entire stock and $4.984.600 bonds of
the International Ry. Co. Has traffic agreement with Niagara Gorge RR.
for the operation of cars over the latter's 8-mile line. Contract runs to 1941.
In Dec. 1912 the Pub. Serv. Comm. approved the reorganization plan,
calling for exchange of old coll. trust 4s, $ for $, for new col. trust 4s of
Internat. Trac. Co. due July 1 1949. and limiting the issue to $18,335,000 instead of the $30,000,000 proposed. V.96, p. 63. The few remaining
bonds of 1890 which did not assent to plan were called for payment on
July 1 1913 at 110 and int. V. 96. P. 1021.
New Preferred Stock.-On Oct. 16 1916 company filed an amendment to
Its charter permitting the consummation of the plan (V. 101, P. 527) for
retiring the $5,000,000 4% cum. pref. stock, with accumulated dive.
thereon (42%) by an issue of new 7% cum. pref. stock, share for share.
$4,468,600 of the stock was so exchanged and in June 1916 the accumulated
divs. (42(7) on the unexchanged stock were paid in cash. V. 102, p. 2166.
In April 1916 issued $1,050,000 Serial 6% secured gold notes to retire
floating debt and pay the accumulated diva on the old 4% pref. stock unexchanged.
New Line.-The P. S. Comm. has auth. the sale of $3,570,000 International Ry. ref. and !rapt. 5% bonds, of which $1,900,000 have been issued,
to provide for the construction and equip. of the high-speed interurban line
from Buffalo through Tonawanda and North Tonawanda to Niagara Falls,
16 miles, over private right of way. This line is expected to be completed
during 1917. V. 103, p. 1032.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$10,000,000 Mar.'17.1%
Stock, common, $10,000.0004,468,600 Mar.'17,1 3
Fret 7% cum $5,000.000
531.600 Mar.'17,1
Pre 4% cum
16.395,000 July 1 1949
Coll trust, $18.335.000__ ---- 1912 4 J-J
See text
300.000
Serial debenture notes, $500,-(1913 6 F-A
ci Int.at Chase Nat. Bank, N.Y.,or Fidelity
000 ($1,000), gold
I Trust Co. of Buffalo. Trustee.
See text
950,000
Serial secured notes 51,050,-1 1916 6 A-0
000($1,000) gold....__c*cpt1Central Trust Co., New York. Trustee.
13.000 Sept 1 1917
Car trust certificates No 31 1907
6%
JCommercial Trust Co.. Phila. Trustee.
$250.000
31,940,Bonds and Notes.-$18,335,000 coll, trust bonds were issued,
000 have been re-acquired, and are pledged as collateral to the Serial 6%
secured notes. The debenture notes of 1913 mature $50.000 annually
beginning Feb. 1 1914. $200,000 have been retired. Callable at 100 /4 int.
on any int. date. The notes of 1916 are secured by $1,940,000 coll. trust
4% bonds due July, 1 1949. They mature $100.000 annually on April 1
from 1917 to 1925 incl., and $150,000 on Apr. 1 1926, to be retired either
through earnings or by sale of the pledged bonds at not loss than 65.
$100,000 retired. Callable, all or part, at 101 and int. on any int, date on
30 days' notice. Pennsylvania State tax refunded. V. 102, p. 1436. Car
trust certificates No. 3 are secured by title to 50 cars.
Dividends.-First div. of 2% on old 4% pref.stock was paid Feb.1 1913;
° and 2%
also an additional 4% on account of accumulated divs.; July, 27
addl. In 1914, Feb., 2% and 2% addl; July, 2%. In 191'5, Feb., 2'%;
July, 2%. In Oct. 1915 new 7% pref. stock was offered in exchange for
old stock with accum. dive. thereon. All but $531,600 of the stock was so
exchanged and in June 1916 the 42% accum. dive. on unexchanged stock
0 is now regularly paid on the old pref. stock. New
were paid in cash. 47
7% pref. stock is cumulative from Nov. 15 1915, and a div. of'N% was paid
thereon Jan. 15 1916; in March 1916 paid P4% and same rate quar. since
Initial div. on com.-14 %-paid June 30 1916; Sept., 1%. In 1917,
Jan., 13,6%; March, 1%.
Franchtses.-Nearly four-fifths of the7mileage in Buffalo, including all the
most important lines, is maintained, it is stated, under franchises in perpetuity or upon property directly owned, only 47 miles of minor trackage




[VOL. 104.

ELECTRIC RAILWAYS

being operated under franchises having less than 25 years [from 1916) to
run. The franchises of the lines outside of Buffalo are either for various
long-term periods or are without time limit.
Consolidation of Constituent Companies.-On Feb. 20 1902 the International Railway Company was incorporated in New York with $10,120,500
stock, and in Aug. 1902 this was increased to $17,000,000, of which $16,707,500 has been issued (all owned by the International Traction Co.), as a
consolidation of the following companies, whose shares had previously been
held by the Traction Co.; V. 74. p. 427.
Buffalo Railway Co. (after Buffalo Traction and Buffalo Bellevue &
Lancaster had first been merged in the same).
Buffalo & Niagara Falls Electric Railway.
Buffalo & Lockport Railway (after Elmwood Ave. and Tonawanda Electric Railway had been merged).
Buffalo Tonawanda & Niagara Falls Electric RR. Co.
Lockport & Olcott Railway.
Niagara Falls & Suspension Bridge Railway (after the Niagara Falls
Whirlpool & Northern Ry. had been merged in it).
Niagara Falls Suspension Bridge Co.
On July 1 1902 the International Ry. Co. acquired by purchase the
Niagara Falls Park & River Ry., the Clifton Suspension 13rIdge Co.,the
Lewiston Connect. Bridge Co. and Queenston Heights Bridge Co. and in
Dec. 1912 merged the Electric City By. In April 1913 the Crosstown
St. Ry. was also merged,thus leaving the International Railway Co. the sole
operating company and the International Trac. Co.the holding company.
Liens of Constituent and Owned Companies.
Maturity.
Interest. Outstanding.
Date.
BONDSInternat By ref & imp mtge] 1912 5 g M-N $13,907.000 Nov 1 1962
$60,000,000, gold____c*&riBankers Trust Co., New York, Trustee.
5,000.000 Feb 1 1931
5 g F-A
Buffalo Ry 1st con mtgel 1891
($1.000)$5,000.000,g,c*&r Int. at Co.'s office, Buff., E.W. Clark & Co.,
Phila.. or Bankers Tr. Co., N. Y., Trustee.
60.000 July 1 1922
aTonawanda St RR 1st M. 1892 6 J-J
•
Interest at company's office, Buffalo.
(closed)
40.000 April 1 1927
aTonawanda Electric RR 1st 1895 6 A-0
Interest at company's office, Buffalo.
mtge
May 1 1932
b2.974.000
M-N
g
5
g
1892
mtge,
1st
By
St
bCrosstown
c* Int. at Metropolitan Tr. Co., N. Y.,Trustee.
(el ,sed) gu p & i
673.000 Dec 1 1948
5 g j-D
Buffalo Traction let mtge. 1898
(closed)Int.at Metropolitan Tr. Co.. N.Y., Trustee.
215.000 June 1 1927
5 JBuffalo Bellevue & Lancaster 1897
mtge (redeemable atpar)_ (Int. at Buffalo Trust Co.. Buffalo.
750,000 July 1 1935
5 g J-J
1895
Buff & Niag Falls Elec ylet M.$750,000, gold____c Interest at Bankers Trust Co.. Now York.
5g
15,000 July 1 1921
2d M,$175,000, g. s f, red 1896
aft 1901 at 105 ($1,000)_c Int. at Bankers Trust Co., N. Y., Trustee.
500.000 July 1 1938
5 g J-J
Buffalo & Lockport 1st mtge, 1898
Equitable Trust Co., New York, Trustee.
gold. $500,000
800,000 July 1 1920
5 g J-J
Lockport & Olcott By 1st 1900
mortgage (closed), gold Int. at Guaranty Tr. Co., N. Y., Trus.; also
by Inter. Trac.
p. &
,
at Buffalo. Guar
c*
,
300,000 Jan 1 1928
5 g J-J
Falls Suspension 1897
Niagara
$
Bridge, Clifton Suspension Toronto General Trusts Corp.. Trustee.
Int. at American Exch. Nat. Bank, N. Y.
Bridge
125,000 Oct 1 1928
5 g A-0
Lewiston Connecting Bridge 1898
Toronto General Trusts Corp.. Trustee.
Heights
Queenston
Co,
Int. at American Exch. Nat Bank, N. Y.
Bridge Co
518.000 July 1 1923
aNiag Falls & Susp Bridge By_ 1893 6 J-J
22.500 July 1 1023
6 J-J
aNiag Falls Whirlpool & No It( 1894
6 M-N
1919
250.000
Real estate bonds and mort- ____
Int. at Fargo & Cary Estate, Buffalo.
gages
a All owned by International Traction Co.
b Of this $350,000 owned by International Railway Co.
Bands.-Of the Internat'l Ity. ref. and imp. bonds, $11.001.500 are reserved to retire prior lien bonds; remaining bonds may be issued only for
add'ns, impts., &c.. with consent of the P. S. Comm. Coup. bonds in
denom. of $1,000 and reg. bonds of $1,000 and multiples. Red. on any Int.
date at 110 and int. Int. payable at office or agency of the company in
New York. Exempt from N. Y. State, county and municipal taxes. Sk.
fd. began in 1912 and will provide by July 1 1949 sufficient funds to retire
all except $641,000 of the outstanding underlying bonds to a total par value
of $12,641,500. The bonds are secured by a 1st M. on about 43 miles of
track (Incl. 153,6 m.in Buffalo) and by a mtge. on remaining property, subj.
to divisional bonds. They will also be a 1st M. on the now line between
Buffalo and Niagara Falls. V.96, p.62; V. 103, p. 1032. The Tonawanda
Elec, RR. 1st 45 due originally on Apr. 1 1907, were extended as 4s to Apr. 1
1917 and in 1917 again extended to April 1 1927 at 6%. The Niag. Falls
& Suspen. Bdge. Ry. bds. of 1893 and Niag. Falls & Whirlpool Nor. bonds
of 1894 given in the table above matured in 1903. but were acquired by the
International Traction Co. and extended ten years, and then deposited with
the Guaranty Trust Co. of New York as additional security under the
International Traction Co. collateral trust mortgage. These were again
extended, maturity now being July 1 1923 and bearing interest at 6%. All
the outstanding stock and $4.344.000 ref.& impt. 5s of the Internat. By..
$60.000 Tonawanda St. Ry. let 6.9, $40,000 bonds of Tonawanda Elec. RR..
$518,000 bonds of the Niagara Falls Sr Suspension Bridge and $22.500 bonds
of the Niagara Falls Whirlpool & Northern are pledged as security for the
International Traction collateral trust loan.
EARNINGS.-For year ending Dec.31:
Renewals, Balance,
Fixed
Net (after
Gross
Calendar
Charges. &c.. Reserve. Surplus.
.Taxes).
Earnings.
6earY
191
$7,818,678 $3,253,240 $1,862,709 $522,709 $867,822
670,404
396,582
1,866,960
2,933,946
0,839,974
1915
ROAD,&c.-Length ofline,224.359 miles(owned,199.516;leased, 18.196;
sidcrossovers,
track,
second
trackage, 6.647); total miles of track, incl.
ings, &c.. 398 miles. Gauge, 4 ft. 83i in. Rail (steel). 45 to 145 lbs.
of
part
Greater
cars.
passenger
851
clas.ses,
including
all
of
cars
1,038
electrical energy used is purchased from the Niagara Falls Power Co. and
Its allied co., the Buffalo General Electric Co.
OFFICERS of International Railways Co.-Pres., Edward G. Connette;
V.-P., E. J. Dickson; Sec. & Treas., Geo. W. Wilson; Aud., Charles A.
Chavel.
OFFICERS of International Traction Co.-Pros., Rodman E. Griscom,
V.-P., E. G. Connette; Sec. & Treas., Geo. W. Wilson; Aud., Chas. A.
Chavel.-(V. 102, p.886, 1436, 2166, 2341; V. 103,P.490,666, 1032, 1210.)

BURLINGTON, IOWA.
BURLINGTON RAILWAY & LIGHT CO.-A trolley road.
ORGANIZATION.-Incorp. In 1912 In Delaware and acquired the People's Gas & Elec. Co. and old Burlington Ry. & Light Co. Does entire
municipal and commercial electric-lighting and power business in Burlington and suburbs. Also owns steam-heating and gas plants. Railway
franchises are perpetual, except for two suburban extensions of minor importance. Lighting franchises in Burlington expire in 1927.
Maturity.
Interest. Outstanding
STOOKS AND BONDS- Date.
$1,500,000
Common, $3,000,000
See text
1,000.000
6 J-J
Preferred $2,000,000 6% cum_ ____
1,719,000 Mar 1 1932
5 M-S
First mortgage, 57.500.000. gl 1912
$1.000) sinking fd___c*tf f Int. at Equit. Tr. Co., N. Y., Trustee.
ilonds.-Remaining bonds are for additions, betterments or extensions.
under certain restrictions, at 80% of cost. Callable at 105 and int. on any
int. day on 3 months notice. Sinking fund of 5% of gross earnings began
July 1914. V. 95, P. 678.
Dividends.-6% is being paid on preferred stock.
EARNINGS.-For year ending Dec. 31 1916, gross, $421,051; net
$180,469; other income, $6,234; total net income, $186,703. Burlington
ROAD.-Owns and operates about 23 miles of track in
and its suburbs. 66 to 85-lb. T rail. 62 passenger cars.
OFFICERS.-Pres.. Geo. H. Higbee; V.-Ps., E. 0. Walsh and M. A.
Walsh; Sec.. Treas. & Gen. Mgr., Of. H. Walsh.-V.95, p. 678. 1039.

BURLINGTON, VT.
BURLINGTON TRACTION CO.-A trolley road.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$200,000 May'17, 23i
Q-F
Stock, $200,000 (par $100)
5%
350.000
30-year bonds. $500,000_ tf 1912
be issued with permisonly
bonds
can
$150,000
Bonds.-The remaining
sion of Public Service Commission.
9 2
:
Diviaends.-Previous to 1903. 4% yearly. From 1903 to 1912.16
yearly. In 1912. 1913 and 1914, 8%. In 1915, Feb.. 2%; May,2J.%;
and same rate guar. since to and incl. May 1917.

MAY, 1917.]

ELECTRIC RAILWAYS

19

Net.. Charges.
Year ending June 30- Gross.
Dios. Surplus
Toledo and Cedar Rapids and Mt. Vernon. 42 pass. cars, 30 freight;
$147,690 $62,435 $17,500 $20,000 $24,935 misc..8; total. 80 cars. Total rated capacity of generating plant.
1915-16
24.076 h.p.
140,539
59.107
17,000 24,607
17,500
1914-15
OFFICERS.-Pres.and Gen. Man., William U. Dows; V .-P. and Treas..
ROAD.---Owns 12 miles of track In city of Burlington. Rails 80, 70 Isaac B. Smith' V.-P., John A. Reed: Sec.. C. S. Woodward. all of Cedar
and 75-lb. T. Owns 15 box cars, 18 open cars, 1 convert. car,2 snow plows. Rapids.-V.101, p. 1465, 1806; V. 102. p. 1163; V. 103. p. 1508OFFICERS.-Pros., Elias Lyman; V.-P. & Treas., Jan. J. Flynn; Sec.,
C. W. Brownell.-V.94, p. 1185.

BUTTE, MONT.

CEDARBURG, WIS.

MILWAUKEE NORTHERN RY.-An electric road.
ORGANIZATION .-Incorporated in Wisconsin in 1905. Operates interurban system entirely on private right-of-way. Franchise in Milwaukee
expires Dec. 31 1934 and provides for 5-cent single fares and that 8 tickets
be sold for a quarter within city limits. Port Washington franchise expires
Jan. 2 1956. All others perpetual. Enters Sheboygan over tracks of Sheboygan Electric Co. under perpetual contract.
STOCK AND BONDS- Date. Interest. Outstanding.
Maturity
Stock, common, $1,000.000_ 81.004000:0080
%0
1st pref., 8400.000,6% cum
_
D
ec'16.3
2d pref,$600.000,6% non-cum._ _
600,000 Mar '13,3%
1st mtge 34,000,000 goldf 1911
5 A-0
1,595.500 Apr 1 1931
($500 and 31.000)
ctflInt. at First Say. & Tr. Co., Milw.. Trustee.
Bonds.-Remaining bonds may be issued only when net earnings are
twice int. charges, incl. bonds to be issued, at not exceeding 75% of cost
of extensions, additions. &c. SubJect to call at 105 and int. V. 92,p. 725.
Dividends.-DIvidends of 3% paid s.-a. on 1st pref. from Sept. 1911 to
Mar. 1914 (incl.). None to Jan. 1916, when 134% was paid. In May 1916
3.i% and
% each month thereafter to Oct. 1916. In Dec. 1916 paid
3%. On 2d pref. paid 3% s.-a. from Sept. 1911 to Mar. 1913 incl. None
since.
EARNINGS.-For years ending Dec. 31 and June 30:
Years endingGross. Exp. & Tax. Net.
Interest. Surplus.
Dee. 31 1916
S352,532 $190,328 $162,204 $79,775 $82,429
June 30 1916
185.240
332.336
147,096
79.775
67.321
CALAIS, ME.
June 30 1915
334,563
142,180
192,383
79,750
62,430
CALAIS STREET RA ILWA Y.-A trolley road.
ROAD.- Will be 120 miles long, running north from Milwaukee to CedarORGANIZATION.-Stock, $50.000 Corn, and $50.000 pref.; first
burg, where it forks, one branch extending to Sheboygan via Port Washing1910 (ntf). 5s, J-J, $100,000 due July 1 1930.
aultrsMe
t
itT.-Year ending Juno 30 1916. gross, $40,530: net, $10,908: ton and the other to Fond du Lac. Operates 69 miles of track, including
63 miles in Milwaukee, between Milwaukee, Cedarburg and Sheboygan.
int. and taxes,$5,777; dividends, $5,000;surplus for year,$131.
king the line between Milwaukee & Cedarburg, 10 miles
ROAD.-Calais Street By., lower wharf to upper bridge, Calais. 4 miles Is double-trac
Gauge,4 ft. 8% in. 70-1b. '1' rail.
St. Stephen Electric Ry., Milltown, N. B., to St. Stephen, N. B., 3 miles completed.
OFFICERS.-Pres., Wm. A. Comstock; V.-P. and Gen. Man., F. W,
total. 7 miles. The St. Stephen Electric Street Ry. Is a separate corpora- Walker; Soc. and Treas.,
Henry A. Haigh.-V.85. p. 601; V. 92. p. 725.
Hon, but is owned entirely by the Calais company. 9 cars.
OFFICERS.-Pres., George A. Curran; Sec., Treas. & Gen. Mgr.
Benjamin Y. Curran; Supt.. C. F. Pray; all of Calais. Me.
CENTERVILLE, IOWA.
IOWA SOUTHERN UTILITIES CO.
'CANTON, MASS.
ORGANIZATION.-Organized in Maine in 1905 as the Centerville Light
&'Fraction Co. Owns and operates, without competition, a street Railway
BLUE HILL STREET RA ILWAY.-A trolley road.
serving Centerville and extending to Mystic, la, and the public utility
Interest: Outstanding. Maturity
STOCK AND BONDS- Date.
properties serving Centerville, Moravia, Albia, Mystic, Brazil, Cincinnati,
$300,000
Stock, $300,000 ($100)------ ---Exline and Allerton, Ia., having a population of 20,000. Upon completion
5 g A-0
First mortgage. $500.000, f 1903
25'1,000 Oct 1 1923
prosent,plans for extension, the company expects to serve 20 communilint. at Old Colony Trust Co.. Boston, Trus. of
gold
ties, with an aggregate population of 35,000. In 1916 acquired the CenterBonds.-Callable as a whole at 115 and int. Non-taxable in Mass.
ville Albia & Southern By., a passenger and freight electric road between
EARNINGS.-For years ending Dec. 31:
Centerville and Albia. Ia. Franchises run beyond life of bonds and contain
Gross. Exp.&Taxes.
Net.
YearInterest.
Deficit. no burdensome restrictions.
$92,962
$18,351
$74,611
1916
$19,890
3(,539
STOCK AND BONDS- Date.
90,741
17,468
73,273
Interest. Outstanding. Maturity.
1915
20,247
2,779 Common
stock S1.000,000_ $500.000
ROAD.-Operates 19.7 miles of track from Mattapan, where connection Prof
stock
7%
3500.000300.000
Boston
Elevated
By.
the
to
with
Canton
and Stoughton, at which Serial debenture mortgage_
is made
_ _ ____
6%
200.000
Serially
latter point It connects with the Brisfol & Norfolk Street Ry. and tbe Bay 1st
M $2,500,000 sk fd gold{ 1916
6 g A-0
550,000 Oct 1 1933
State Street By. Standard gauge. 26 cars. Franchise perpetual. Power
($100. $500 & $1,000) c*.tf Int. In N. Y.or Chicago. Central Trust Co.
station capacity,487 k. w.; also purchases power from Bay State Street By.
redeem
interest
and
105
at
of Illinois, trustee.
OFFICERS.-Pres., C. II. French; V.-Ps., A. S. Pratt and E. J. 13.
Bonds.-A direct first mtge. upon the properties, &c., now owned and
Huntoon; Clerk, William T. Crawford; Treas., Henry B. Sawyer: Gen.
hereafter acquired. Additional bonds may be issued up to 80% of cost of
Mgrs.. Stone & Webster Mgmt. Assn.. Boston.-V. 78, p. 1906.
permanent extens., &c., when net earnings arc twice int. charges on all
bonds outstanding, including those proposed. A minimum maint. charge
for railway properties of 17% of gross earnings from railway operations, is
CAPE MAY, N. J.
CAPE MAY DELAWARE BAY & SEWELL'S POINT RAILROAD. provided. Sinking fund beginning March 1 1919, of 10% of net earnings
Sale.-In Apr. 1917 the property was purchased by the Walker James Co. for the previous year, but not less than 1)4% of the average amount of
(It is said on behalf of the Reading Co., holder of bonds securing claims of 1st M. bonds outstanding during the year to retire bonds or for permanent
N. Z. Graves, late owner) for $50,500 from Receiver Alfred Cooper. The improvements. V. 104, p. 73.
property was sold with the stipulation that after $25,000 in cash was paid
EARN1NGS.-For year ending March 31 1916 (representing results
the co.'s bonds would be accepted for the remainder. V. 104, p. 1387.
prior to consolidation and not showing the benefit of a number of profitable
extensions made during the last half of 1916), gross, $212,630; net, after
ORGANIZATION.-Organized under the
railroad laws of New taxes. $72,007; annual interest on
Jersey on Jan. 19 1893 by consolidation of the general
$550.000 1st M. 6s, $33,000; surplus.
Delaware Bay & Cape May $39,007.
RR.(owner of the Cape May & Sewell's
RR.) and the Cape May &
Schellenger's Landing RR. Uses electricPoint
PROPERTIES.-A steam plant at Centerville with 44.75 miles of highpower
for
passenger
service
and
steam power for freight.
tension transmission lines (being rapidly extended), a steam heating system
at Centerville, together with a gas generating and distribution system; a
BONDS-Date. 5 A
Outstanding. Maturity. short street railway
in Centerville, also
First mtge (5150.000).. ..cur.. 1849tei
railroads on private right of
$150,000 Feb 1 1923 way, connecting Centerville with Albia electric
and Mystic, which do a freight and
Other debts Dec 31 1915--459,904 •
In 1894 and 1895 but one Interest payment was made, by mutual consent express business, and are connected with trans-continental railway lines.
of bondholders. Rate was reduced to 5% Feb. 11896, but no interest has
OFFICERS.-Pres., D. C. Bradley.-V. 104, p. 73.
been paid. Trustee is New Jersey Trust & S. D. Co., Camden, N. J.
ROAD.-Operates 12.089 miles of track extending to Cape May
Point
CHAMBERSBUR G, PA.
and Howell's Point, along the beach front through city of Cape May.
EARNINGS.
-For year ending Dec. 31 1915, gross receipts, $17,147;
CHAMBERSBURG & GETTYSBURG ELECTRIC RY.
repairs,
&c., $24,120; deficit, 36,973.-V.
operating expenses,
94,
p.
826,
ORGANIZATION.-Incorporated In Pennsylvania Dec. 4 1900.
982; V. 103, p. 1301; V. 104, 13. 1387.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $225.000 (350)
$225,000
CEDAR RAPIDS, IOWA.
1st mtge. $225,000 ($1.000).f 1903
5 M-N
225,000 May 1 1933
not red., no sink. fund __c*lInt. at Northampton Tr. Co.,Easton,Trust.
IOWA RAILWAY & LIGHT CO.
EARNINGS.-For calendar years:
ORGANIZATION.-Is a re-incorp. in 1912 of the Cedar Rapids &
Iowa
Gross.
Net.
Year0th. Inc. Int. & Taxes.
City Ry. & Lt. Co. and has acquired the properties formerly owned by
Deficit.
the 1916
$38,098
$8,396
$304
following companies:
$11,667
$2.967
35,930
5,509
1915
Boone Electric Co.
195
11,896
6,192
Nevada (Iowa) Electric Co.
Cedar Rap.& Iowa Cy. By.& Lt.Co. Perry Elec. Lt., Pow.& Heat Co.
ROAD.-Operates 13.25 miles of track between Chambersburg, StofMarion Light, Heat & Power Co.
ferstown, Fayetteville, Greenwood and Mt. Union. 60 to 80-lb. T and
ITama
&
Toledo
Electric
Power
Co.
Marshalltown Lt., Power & By. Co. Tama & Toledo Ry. Co.
girder rail. Gauge, 5 ft. 2% In.
Owns and operates entire electric light and
OFFICERS.-Pres., T. B. Kennedy; Sec. and Treas.. W. L. Ritchey
Rapids, Marshalltown, Boone, Marion, Perry,power properties in Cedar
Belle
Plaine,
Blairstown,
Supt., D. B. Fretz.
Chelsea, Tama, Toledo and Nevada, and supplies more than
50 towns
through its high-tension linos; interurban road
between Cedar Rapids and
Iowa City and Cedar Rapids, Lisbon and Mt. Vernon',
CHAMPAIGN, ILL.
local street railways in Marshalltown, Boone, Tama and Toledo; thethe
gas plant in Marshalltown and the heating properties in Cedar
ILLINOIS TRACTION CO.-(See Map on page 20.)
Rapids,
Boone,
Marlon
and
Interurban
road is on private right
Perry.
ORGANIZATION.-Incorporated In Maine on May 13 1904.
of way. Also does a freight
business, excha nging freight with four steam roads.
Nov. 10 1913 Increased the auth. common stock from $10,000,000 On
to
Contract with City.-For contract with city of Cedar Rapids for
$15,000,000, in order to acquire control of the allied Western
the
conRailways &
struction of a darn, &C.,see V.98, p. 2:35.
Light Co. Two shares of Railway & Light corn. were
for one
Also has a contract with the Iowa Electric Co.(V.100,p. 2171) an allied of Illinois Traction corn., 54,510.400 of the $4,521,800 exchanged
stock outstanding
company, for the interchange of power.
being so acquired. The pref. stock of the Railways & Light Co.
remains
See V. 97, a. 1426,1504. Controls the following companies:
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. outstanding.
*Atchison By., Lt. & Power Co.
Jacksonville
Common $3,000,000
Railway
&
Light
Co.
$1,700,000
See text Bloomington Decatur & Champ. RR Jacksonville
Pref, $3,000,000,7% cum- Ry. Co.
2,91:3,670 Mar.'17.1% Bloomington &
Normal Ry.& Lt.Co. *Jefferson City Lt., Ht. & Pow. Co.
let it ref mtge $10.000•000 g 1515
4,645,000
Sept.
1
1932
*Cairo City Gas Co.
Madison County Light & Power Co.
($500 and $1,0001 __c*tfHarris Tr. & Say. Bank, Chicago, trustee.
*Cairo Electric & Traction Co.
Montezuma El. Lt.,Pow.& Fltg. Co.
& L 1903
Ced Rap & Iowa City
5 g J-D
90,000 June 1 1923 *Cairo By. & Light Co.
Monticello Electric Light Co.
1st M"52,000,000 gold ($1.- Illinois Tr. & Say. Bk.,1Chicago,
co-trustee.
*Cairo & St. Louis By. Co
*Mound City Light & Water Co.
Ott I I . at Harris Tr. & Say. Bank,
000)
*Chicago Ottawa & Peoria Ry. Co. New Valley Junction Water & Lt.
Bonds.-Of the remaining 1st & ref. bonds,$190,000 are reservedChicago.
Co.
for prior *Citizens'Ltg.Co.of La Salle.
lion and $5,165,000 are for extensions and additions at 80%
Illinois Light & Trac. Co.
of cost for ac- Citizens Pure Ice Co., Jacksonville. *Northern
North Missouri Light & Power Co.
quisitions, &c., under certain restrictions. Subject to call on any
int,
date
Clinton
&
Gas
(Ill.)
Electric
on or after Sept. 1 1915 at 103 and Int. Sink. fd. 1% per ann.
Co.
Oskaloosa & Buxton Elec. Ry. Co.
of ponds out, Colfax Electric Light Co. (Iowa).
Mar. 1 1916 to 1921; 1922 to 1926. 2%; 1927 to 1931. 3%. Sink,
Oskaloosa Traction & Light Co.
fund to be *Consumers Water & Light Co.
used for redemption of bonds or for °stens. and
Peoria Railway Co.
betets.
V.
95.
p.
750.
Danville Chem.& Dec. Ry.& Lt.Co. *Quincy Railway Co.
On Cod. Rap. & Iowa City By. & Lt. 1st
a sinking fund began April Danville
& Eastern Illinois By.
1 1908 and bonds are subject to call at 107% &M.
St. Louis Electric Bridge Co.
int. see V. 77, p. 2279.
Danville & Northern RR.
St. Louis Electric Terminal Ry.
Dividends.-7% is being paid on pref. stock. On common,
in
1911
to
Danville & Southeastern By. Co.
1914, 2% per annum. In 1915, 4%;since at the rate
St.
Louis Springfield & Peoria RR.
of (37p per
Danville Street Railway & Light Co.
Railway & Light Co.
EARNING:3.-0f combined properties year ending Doc. annum.
31 1916. Danville Urbana & Champaign By. Topeka
gross, 31,590,864; net, after °per. exp., taxes, maint.
Topeka Edison Co.
and
renewals,
$647.- Decatur Railway & Light Co.
005; int. on bonds, &c., $255,143; pref. diva.,
Topeka
Railway Co.
$172,803; corn. dly. (6%), Des Moines Electric Co.
$102,000; surplus. $117,059.
Urbana & Champaign Railway, Gas
Des Moines & Cent. Iowa Elec. Co.
ROAD.-Operates an interurban road 455 miles
& Electric Co.
long
on
private
right- *Galesburg
of-way substantially 100 ft. wide between Cedar
Lighting & Power. Urbana Light, Heat & Power Co.
Rapids, Iowa City and Galva (Ill.)By.,
Lisbon; alsoalocal streetarallways in Marshalltown,
Electric Light
*Wichita RR. & Light Co.
Boone, Tama and Illinois Central Traction Co.Co.
BUTTE ELECTRIC RAILWAY.-Trolley.
This company WM incorporated in West Virginia In December 1899 as
successor of the Butte Consolidated By., sold at foreclosure.
Interest due on Mar. 1 1915 was paid Sept. 1 1915 and subsequent coupons due March 1 and Sept. 1 1915 and March 1 1916 were paid 6 months
after they became due. Subsequent coupons paid when duo.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock. $1.000,000 (par $100)- -_-_
$1,000,000 Oct '06, 2%
M-N
1st M.$850,000. gold, $1.0001 1900
5 g M-S
700,000 Mar 1 1925
_ c*cptlInterest at W. A. Clark & Bro., Butte.
each
Bonds.-May be called for payment on Mar. 1 1915, or on any interest
day thereafter. Sinking fund of 10% par value of bonds began Mar. 1 1916.
Dividends.-In 1905_, 4%; In 1906, May, 2%; Oct.. 2%; none since.
ROAD.-Operates 36.1308 miles of track. 56-60-80-lb. T rails. 56
Passenger and 3 work cars.
EARNINGS.-Years ending Juno 30:
Gross. Net (aft. Taxes). Depen.
YearInterest.
Balance.
$550,037
8100.686
191546
$53,288
843,459
sur.$3,939
26.325
466,936
1914-15
53.478
41,481
def.68,634
Passengers carried in 1915-16, 12,494,722, against 10,511,829 In 1J14-15.
OFFICERS.-Pres., W. A. Clark, Butte; V.1' .1 It . W harton: Sec &
Treas., J. H. Anderson, 20 Exchange Place, N. Y.-V. 100. P. 1078, 1591.




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A Street Railway, Electric Light and Gas
X Streettilailway;Electric Light, Gas and Heat

o Sparta

SALEM

Fairfield
Munden
••••
Kenneth
MOUNT VERNON
Carvel
Bonnie
MeLeansboro
Ina
Whittington
Carmi
Cabool
DEN TO N

o'Du Quoin

c.

,111

TRACTICIN SYSTEM
ILLINOIS OTTAWA
& PEORIA RAILWAY
CHICAGO,
SHOWING coNuEciloNS WITH
CHICAGO & EASTERN ILLINOIS RAILROAD
CHICAGO, ROCK ISLAND & PACIFIC RAILWAY
TEORRATORY IN ILLINOIS

Vaud:ilia
Ashboro

CIT

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Busseron
Einison

5 Slinkard
Einem
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Graham
Jordan
Hawkins
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Somerville
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Welton
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<I MARION

Carboiedale

liudgens
1; Goreville

X ElectriC4ight. and Water
MAP OF THE

S.

aX

I.Johnston City

A Electric'. Light,,and Gas
D Electric. Current Sold to Local Companies

T Electric Light, Gas and Heat

Sluit

Cartter
Kell

Centra°Ii

0 Chester
Morphyshoro
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Watson
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YINCENNES
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by the IllinoTITraction Co.
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Henderson

EXPLANATION
1110
Motion'

arnatuarst Interurban

Lines
Electric Light Transmission Lines

C

K

Y
41••••

MAY, 1917.]

ELECTRIC RAILWAYS

21

Companies marked with * formerly comprised Western Rys. & Lt. Sys. Int. on any int. date. Sink. fd. 1% of bonds out annually. 1912 to 1919;
In April 1907 obtained a 50-year franchise on certain streets of St. Louis 2% 1920 to 1928. Of the bonds outstanding, $55,000 are in sink. fund.
and was also given authority by the U. S. Government to build a bridge V. 93, p. 665. The Ry., Elec. & Heating Co. bonds are subject to call at
across the Mississippi River between Vonice,I11., and St. Louis. Mo. This 110 and int. Sink. fd., $10,000 annually, began June 1908; $109.000 are
bridge was opened to traffic in Nov. 1910 and, with terminals in St. Louis. In sink,fund and Included in amount outstanding.
ROAD.-Operates 19 miles of track in, around and between Bloomrepresents an investment of over $6,000,000. V. 92, p. 259. On July 1
and Normal. Rails 70 and 72-1b. Has 31 pass. and 5 misc. cars.
1911 began running express trains between St. Louis & Peoria, 174 miles, ington
with only two stops-at Springfield and Lincoln-the running time being Power station has 3,300 k. w. capacity.-V.102, p. 1058; V. 104, p. 255.
53-5 hours, or about 32 miles an hour (V. 93. v. 44)• In Aug. 1911 the
(4) Cairo Railway & Light Co.-A trolley road.
company opened offices in Chicago, with the purpose of securing freight
ORGANIZATION.-Incorporated on Oct. 5 1908 in Maine to take over
from points between Chicago and St. Louis, though company has as yet
the properties of the Cairo Elec.& Trac. Co.and the Cairo City Gas Co. V.
no direct entrance into Chicago. V. 93, p. 527.
Fare Increase.-On Dec. 4 1916 the I.-S. C. Comm. approved an increase 88, p. 293, 374, The Cairo Elec. & Trac. was a consolidation of the Egypt
in faro between St. Louis, Mo., and Venice, Madison and Granite City, Electric Co. and the Cairo Elec. Light & Power Co.
Ill.. from 5 to 10 cents.
STOCK AND BONDSDate, Interest. Outstanding. Maturity.
On Dec. 31 1916 the bonded Indebtedness of the properties controlled Stock, $1,000,000 ($100)
All owned by Western Rys. & Light Co.
was $58,855,700.
Cairo Ry & Lt M $1,000,000 gntf 1908 5 g J-D
$850.000 Dec 1 1938
STOCK AND BONDS- Date.
Interest. Outstanding. Last Divid. C E & T 1st M. $300.000. gnt11903 5 g J-D
150,000 June 1 1923
$12.251,400 May'17.q.%
cntf Int. at Central Trust Co., Chic, Trustee.
Common,$15,000,000 ($100)($500 and $1,000)
$10,000,000($100)____
6%
cum
Q-J
11-6
City
Gas
Co
Prof
7.135,500 Apr. '17.
Cairo
$75,000 gold 1 03
5 g J-D
75,000 June 1 1923
Debenture gold bonds
Bonds.-C.E.& T. bonds subj. to call on any int. date aft. 10 yrs. at 105.
5%
3,711,000 Feb 1 1925
Western Railways & Light Co.-Operates 9 miles of track in Cairo, together with the electric
ROAD.
____
($100)_
Q-J
Pf cum 6% $3,500,000
3,169,000 See text
lighting and power plant. 24 cars. Furnishes city with 119 arc and 196
tf
Debenture gold bonds
1,645,000
5%
Incandescent lights; also supplies 40 commerciaiares.-V.88. p. 293, 374.
Stock.-Additional preferred stock can only be issued when not earnings
are equal to 9% on preferred stock out and the amount proposed to be
(6) Cairo & St. Louis Ry.
Issued. Preferred stock is listed on Montreal Stock Exchange.
ORGANIZATION.-Incorporated in Illinois Oct. 1908 to construct a
Dividenas.-6% per annum is being paid on the preferred stock. First line from Cairo to East St. Louis. Has a 50-year franchise in Cairo. Mound
div. on corn.. ,8 1%, paid May 15 1913; same rate quar. since to and incl. City and Mounds.
May 1917. Dividends have been paid on Western Rys.& Light Co.'s pref.
.
tstanding, Maturity.
ONSTOCK AN
stock since organization.
Stock,$300,000---------- -----------------$300,000
REPORT.-Of combined properties for calendar years. Report for 1915 First mtge, $250,000,g_c&rtfi 1908
2500
Nov 1 1938
5 g M-N
in V. 102, p. 1807.
PortI'd(Me.)Tr.Co.,Trus.,& F.D.Lunt,PortI'd
1915.
Gross Earnings1914.
1912.
Bonds.-Coupon bonds are n $1,000 pieces and registered in any desired
1913.
Interurban lines
$3,559,028 $3,620,636 $3,604,265 $3,395,634 amount. Int. at Portland (Me.) Tr. Co. No s. f. and not subject to call.
2,871,035
City lines
2,950,563
3,021,859
3,072,235
ROAD.-11.37 miles of track completed and in operation; 10 cars; 1
905,703
Gas
783,679
877.982
816,912
Electric
3,325,411
2,218,419 engine.-V. 88, p. 293.
3,002,378
2,636,714
Heat, water & miscell
526,818
362,182
583,999
390,972
(6) Chicago Ottawa & Peoria Railway Co.
ORGANIZATION.-Bought outright in 1909 the Illinois Valley Ry.
Total gross earnings_ _$11,187,995 $11,112,854 $10,521,003 $9,710,477 Operates
largely on private right of way. Franchises in various towns
Opor. exp. and taxes__ _ 6.657,569
6.587,462
5,775,043 mature mostly
6.198,872
after 1950.
Not earnings
$4,530,426 $4,525,392 $4,322,226 $3,935,434
Interest on bonds, &c.._ $3,268,607 $3,290,787 $2,883,240 $2,672,402
Prof. dividends (6%)..
428,130
428,130
344,547
406,372
Common dividends
(3)367,539 (3)367,390(2 WL)224,805
Total deductions____ $4,064,276 $4,086,307 $3,514,417 $3,016,949
$466,150
Surplus
$439,085
$918,485
$807,809
From the balance as above in 1915 there was deducted $403,611 for depreciation and $54,396 for bond discount, against $309,580 and $47,957,
respectively, in 1914, leaving a surplus of $3,143 in 1915, against $81.548.
Latest Earnings.-11 months ending Nov. 30 1916, gross, $10,968,245;
not, after taxes, $4,187,447; in 1915, gross, 89,958,601; not, after taxes,
$3,938,541.
ROAD.-The interurban lines comprise 625.61 miles of track; city hues
comprise 270.22 miles of track; total of all lines, 815.83 miles. In 1912
entered into a contract with Wabash RR. for a physical connection and
general interchange at Decatur. Has working agreement with all steam
roads In its territory that can be of service, except the Pennsylvania and
N. Y. Central linos. Interurban lines have 150 passenger. 123 express and
750 freight cars; city lines have 383 motor cars and 201 others; 4 central
power stations and 40 sub-stations.
OFFICERS.-Pres.,W.B. McKinley,Champaign; V.-P.and Gen. Mgr..
H. E. Chubbuck. Peoria; V.-P. and Treas., Geo. M. Mattis, Champaign;
Sec., T. B. Macaulay, Montreal.-V. 101, p. 443;V. 102, p. 1060, 1807;
V. 103, p. 145, 406, 1301, 1930, 2340; V. 104, p. 73, 863.
PROPERTIES CONTROLLED BY THE ILLINOIS TRACTION CO.
(1) Atchison Railway, Light & Power Co.
ORGANIZATION.-Successgr in 1895 of the Atchison Ry. Elec. L.& P.
Co. Controls electric railway, lighting and gas properties of Atchison.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock. $1,500,000 ($100)----$500,000
tf 1910
First mtge $1,500,000
750,000 Nov
5%
ROAD.-Operates 9.84 miles of track. 23 cars. Supplies city 1935
with
104 arc lights and 135 incandescent lamps' also 14 arcs for commercial
lighting; 2,289 electric and 2,539 gas meters'in use.-V.94, p. 932.
(2) Bloomington Decatur & Champaign RR.
ORGAN IZATION.-Incorporated in Illinois on Nov. 29 1910 as a consolidation of the Chicago Bloomington & Decatur lty. and St. Louis Decatur
Sc Champaign Ry. Operates on private right of way except through cities
and towns (8 miles) where franchises extend to or beyond 1953.
In March 1916 issued $500,000 5% Ser. A pref. stock to retire a like
amount of General Mortgage bonds.
STOCK AND BONDS- Date.
Interest. Outstanding. MaturitU •
Common, $3,000,000
$3,000,000
Preferred 5% ($1.137.500)--- ---- ,.- __
1,137,500
lst & ref mtge,$15,000,000, gf 1910
8
.
g
-M-N
1,500,000 Nov 1 1940
($1,000 coup & $1,000 or Interest at Illinois Trust & Savings Bank,
p&i.c*&r*tf
Chic.,
multip reg.)go
Trustee,or Chase Nat. Bank, N. Y.
1910
5 M-N
General mortgage
890,000 Nov 1 1940
Central Trust Co. of Illinois, Trustee.
stock,
$912,500 is Series "A" and $225,000 is
Stock.-Of the pref.
Series "B."
Bonds.-Of the $13,500,000 "1st & ref." bonds reserved for various purposes, $6,750,000 are reserved fcr acquisitions of two connecting interurban
roads(Danville Urbana & Champaign and Illinois Central Trac.),$1.262,000
to redeem the general mtge. bonds,$172,000 to replace general mtge. bonds
issued in the future and $5,016,000 for 80% of cash cost of additions and
Improvements. These $5,016,000 bonds, excepting $500,000 (issuable at
any time for 80% of cost of additions and improvements, with consent of
N. W. Halsey & Co.) can be issued only when the preceding 12 months'
gross earnings have equaled five times and not earnings 1q times the interest charge on all bonds outstanding and those proposed to be issued. Bonds
are unconditionally guar., P.& I., by Illinois Trac. Co. They are redeemable at 105 on any int. date. V. 92. 0. 259. Int. on general mtge. bonds is
payable at office of Merchants' Bank of Canada, Now York.
ROAD.-Owns and operates 106 miles of track (96 miles, main line; 10
miles sidings) extending from Bloomington through Decatur to Champaign
and Urbana. 60 and 70-lb. rails. Standard gauge. 208 cars and 6 locomotives.-V. 102, P. 65.
(I) Bloomington & Normal Railway & Light Co.
ORGANIZATION.
-Incorporated in Illinois on Feb. 23 1906 as a consolidation of the Bloomington & Normal Ity. Electric & Heating Co. and
the Consumers Light & Heating CO. of 13loona'ington. Does all local street
railway and commercial electric light and power business in Bloomington
and Normal and operates hot-water and steam-heating system in Bloomington. Principal railway franchise in Bloomington expires in 1929. In
this franchise city reserves right to purchase plant at an appraised value
plus 10% of same. Railway franchises in Normal that are not norpetua.1
expire in 1922. Principal lighting franchises are perpetual. Minor franchises in Bloomington for lighting and for stoa.m and hot water heating
expire in 1930 to 1935.
In Jan. 1917 the authorized capital stock was increased to $1,900,000.V. 104, p. 255.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Corn stock.$1,200.000 ($100)- ----- --$1,200,000
Q-P
-Pref. stock, $450,000,6% cum
450,000
1st and gen intge, $3,500,000 Foil
5 J-J
1,116,000 Jan 1 1928
gold ($1,000)
c*&rtf Illinois Trust & Say. Bk., Chicago, Trustee.
B &NUE & II 1st !rage, 1902
600,000 June 1 1927
5 J-1)
$600.000($1,000) g.s f_c*tf Int. at Ill.'Frost
& Say. Bk.. Chic.. Trustee,
Stock.-The prof. stock is rod. at 105 and accrued div. and is guar. p. & d.
(end.) by the Illinois Traction Co. Tax exempt in Conn., Now Hampshire, Illinois, &c.
Bonds.-Of the $3,500,000 1st and gen. mtge. bonds, $600,000 are re
served for prior liens and $1,802,000 for extensions and impts. under care
ful restrictions. Are guar. prin. and int. and s. f. by Ill. Trac. Co. Int.
in N. Y. or Chicago. Callable as a whole or in part for s. f. at 102A and




STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock-$1,540,000 outstand' -All owned by Western Rys. & Light Co.
First cons and ref mtge, guar, 1907
5 g J-D
$2,918,000 Dec 1 1938
$5.000,000 ($1,000)- - tf Central Trust Co. of Illinois, Trustee.
Illinois Val 1st NI, $2.000,000 1905
5 g M-S
1,159,000 Sept 1 1935
g($500&$1,000),guarc _ tf Int. at Irving Nat. Bank, N. Y. City.
Bonds.-Ch. Ott. & Poo. 1st M. bonds are guar., p. &
by Western Rys.
& Lt. Co. $1,500,000 are reserved for prior liens. They are subject to call
on any int. day on 30 days' notice at 105. Int. at Merchants' Bank of Canada in N. Y. City. Illinois Valley bonds have a sinking fund of 13.6% per
annum of amount out; mtge. was originally $2,000,000, but on merger with
Chic. Ott. & Peoria the $500,000 unissued was canceled; $341.000 held in
sinking fund. Bonds are guar., p. & L. by Western Rys. & Lt., Portland,
(Me.) Trust Co. is trustee. Are subject to call at 105.
ROAD.-Operates from Princeton. III., via Peru, La Salle, Utica, Ottawa, Marseilles, Seneca and Morris to Joliet, about 117 m., with branches
from Spring Valley to Ladd and from Ottawa to Streator, 16 m.; total.
about 123 in. Road from Morris to Joliet was placed in operation In Dec.
1911; 110 cars; 1 locomotive.-V. 92, p. 1374; V. 97, p. 520, 594.
(7) Consumers Water Sc Light Co.
ORGANIZATION, &c.-Incorp.in Illinois in 1913 to succeed the Marseilles Water & Light Co. (successor in 1910 to the Consol. Wat. & Lt. Co.)
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
000 Dec 1 1938
$500,000
0
70
5:0
Stock
1913 6 J-D
First & ref al $500.000
11,000 April 1924
Marseilles W & Lt bonds(ntf). ---5%
30.000
Consol W & Lt bonds (ntf)_5%
Dec 1925
(8) Danville Champaign & Decatur R.& Light Co.
ORGANIZATION.-Incorp. in Maine May 11 1913. Is a holding
company and controls substantially all the electric, gas, street railway
and public-heating systems in Danville, Decatur, Champaign and Urbana.
Franchises covering ga.s, electric and heating, with few exceptions, extend
many years beyond 1933. Street railway franchises expire at various dates
before 1938. the laws of Ill, not permitting long-time street ry. franchises.
See offering of new pref. stock in July 1916 in V. 103, p. 406.
Interest. Outstanding. Maturity •
STOOK AND BONDS- Date.
$3.688.000
Stock. $3.700,000 ($100).•
Prof. 6% cum, guar ($100)- - -- 500,000
See text
6 Q-M
3,143,000 Mar 1 1938
Cons Sz ref colt tr $15.000,000{ 1913 5g M-8
g c*&r* red at 104 and int. Int. at Boston Safe Deposit & Trust Co
Trustee. H. D. Heathfield also Trustee.
guar pen and interest --tf
Stock.-Prof stock is red, as a whole at 110 and div. Cumulative divs.
at the rate of 6% and also $109 a share in the event of involuntary liquidation or dissolution (and $110 per share otherwise), are guar, by endorsement
by the Illinois Traction Co. V. 103, p. 406.
Bonds.-Secured by all the stocks and bonds of constituent companies.
namely $1,327,000 Dec. Ry.& Lt.Co.Consol.& Ref.5s; $877,000 Urbana
& Champ. Consol. & Ref. debs.•, $1.170,000 Danville St. Ry. & Lt.
Co.Consol.Sc Ref. 5s and $10,000 Urb. Lt. Ht. & Pow. Cons. & Ref. 5s.
There are $2.557,000 underlying bonds for payment of which a like
Remaining $9,295,000
amount of cons. & ref. bonds is reserved.
may be issued for additions and improvements to constituent companies
under certain restrictions. They are guar. p. & I. by Ill. Trac. Co. as are
also sub. co. bonds deposited under this mtge. All future issues of stocks
and bonds by constit. cos. must be pledged under above coll, trust issue.
V. 96, p. 1422. Coupon bonds in donom. of $1,000; regis. bonds $1,000,
$5,000, $10,000 or multiples of $1,000.
Sinking fund will retire before maturity about 40% of total bonded debt,
incl. underIvintr, bonds: $49,000 now in sinking fund.
EARNINGS.-Of constituent cos, for year ending Sept. 30 1916, gross.
$2,037,289; net, $1,009.745; applicable to divs., deprec., &c., $734,734.V. 96, p. 1422, 1488; V. 93. p. 1155; V. 103, p. 406. 1980.
(a) Danville Street Railway Sc Light.
Controlled by Danville Champaign & Decatur Ry. & Light Co.
ORGANIZATION.-Incorporated in Dec. 1899 as a consolidation of all
the street railway, electric light, gas and steam-heating interests.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1.64:5182:00000
0
Stock. $1,500,000 ($100)5 g J-J
Jan 1 '18-25
Refunding mortgage, $700,- 1900
'
gold ($1,000)
c* tf Interest at N. W. Harris & Co.
5 M-S
Consol and ref debs, $7.500,- 1913
1,170.000 Mar 1 1938
tf Central Trust Co. of Ill.. Trustee.
000
Bonds.-Ref. bonds are due $6,000 annually Jan. 1 1910 to 1924 inclusive
and remainder on Jan. 11925. $48.000 have been retired. Sinking fund of
$6,000 per year began Jan. 1 1910. bonds being drawn (at par and accrued
int.) in numerical order, beginning with No. 1. Mortgage trustee is the
Illinois Trust & Savings Bank, Chicago. V. 70, p. 125. Of the consol. &
ref. delis. of 1913, $1,170.000 are deposited under D.C.& D. Ry.& Lt. M.
$658,000 are reserved to replace underlying bonds and $5,672,000 for cost
of new property.
COMPANY'S PROPERTY.-The company owns the following: 1. Gas
works operated under special charter and a perpetual franchise. 2. An
electric-light plant is operated under a 99-year franchise; also has dynamos
for furnishing power to street railway. 3. The entire street railway system of the city, 16.37 miles of track, nearly all laid in brick pavement,
running to three parks, the fair grounds, cemetery and railway depots and
National Soldiers Home. Equipped with 50,60 and 70-lb. Johnson T rails
with 26 motor cars (General Electric) and 12 others. Furnishes electric
current at Westville. Georgetown, Ridgefarrn, Indianola. Sidell and
Chrisman.
OFFICERS.-Same as those for Danville Urbana & Champaign Railway
Co.-V.76, P. 1142. 1300.
(Ii) Decatur Railway & Light Co.
Controlled by Danville Champaign & Decatur Ry. & Light Co.
ORGANIZATION.-Incorporated in Illinois in Dec. 1903, to take over
the property of the Decatur Traction & Electric Co., the Decatur Gas &
Electric Co. and the Decatur Steam Heating Co., owning all the street rail.sgrurtisd electric-lighting business and steam-heating plant in Decatur

wag

22

ELECTRIC RAILWAYS

STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
31.375,000
Stock, $1,375,000 ($100)
Decatur Gas & Electric Col 1899
180,000
See text
5 M-N
first mortgage
tf'Int. at Merch. L. & Tr. Co.. Chic., Trustee
Decatur Gas & Elec Co 2d M 1899
5 J-J
90,000 Jan 1 1930
$400,000 4300,000reserved Interest at Merchants' Loan & Trust Co..
for above ($1.000), gold tf
Chicago, Trustee.
Dec Trac & Elec let M $300.- 1900
212,000 Jan 1 1921
5 J-J
000($500 &$1,000 each)c*tf Int. at Illinois Tr.& Say. Bk., Chic., Trustee
5 g J-D
743.000 Dec 1 1933
Dec By & Lt Co 1st & cons M 1903
$1,300,000,g ($1,000)_c*tt Int.01dCol.Tr.Co..Bos.,Tr.,&agencyinN.Y
1.327.000 Mar 1 1938
Dec By & Lt con & ref mtge 1913
5%
$7.500.000 (red at 105). tf Central Trust Co of Ill., Trustee.
Bands.-$512,000 Decatur Railway & Light Co. first and consols. are reserved to retire an equal amount of prior liens as above. A sinking fund
of 10% of the net earnings, or not less than I% of outstanding bonds, is
to be invested in the bonds. Amount outstanding includes $150,000 bonds
held in sinking fund. These bonds are subject to call at 107A and int.
on any interest date upon 60 days' notice. Of the Decatur Gas & Electric
Co. 1st M. bonds, $15,000 must be redeemed on May 15 1910 at 105 and
a like amount each year thereafter in numerical order. These bonds
are subject to call at 105 and interest. The second mtge. bonds of the
Decatur Gas & Electric Co. are redeemable at any time at 105 and int.,
but there is no sinking fund on these bonds. Of the Dec. Ry. & Lt. consul.
& ref. bonds,$1,327,000 are deposited under the Dans% Champ.& Dec. By.
& Lt. consol. & ref. mtge. $1,210,000 are reserved to retire underlying
bonds and $4,933,000 for new construction.
ROAD.-Operates about 15 miles standard-gauge road in Decatur and
suburbs; 60 and 72-1b. T rails. 35 motor cars and 4 others.-V.92. p. 322.
(c) Urbana & Champaign Railway, Gas & Electric Co.
Controlled by Danville Champaign & Decatur R. & Light Co.
ORGANIZATION.-A consolidation in 1897 of Urbana & Champalge
Electric Street, Champaign Electric Light & Power, Champaign & Urbana
Gas Light & Coke and West End Park companies. Owns perpetual gag
and steam charter. The underlying railroad charter is also perpetual.
Franchise in 1901 extended for 20 years.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$700,000
Stock,$700,000
5 g J-D
114,000 June 1 1917
U & 0 Ry G & E M 3250.0001 1897
g sink fd $8,000 yrly June Int. at Illinois Tr.& Say. Bank, Chic..'Trus.
or at Chase Nat. Bank, New York Cite.
1 1900&aft($1.000).c*_ntf
Consol mortgage, $500.000 1899
5 g J-.I
354,000 July 1 1929
($1,000, gold
c ntf Int. at Portland Tr. Co.,Portland, Me.,Trus
U & C Ry 0 & E consol and 1913
5 M-S
877.000 Mar 1 1938
Central Trust Co.. Chicago. Trustee.
ref debs $4.000.000
tf
Bonds.-Of the consol. mtge. bonds, sufficient are reserved to retire first
mortgage bonds. The bonds are subject to call on any interest day at 105
Of the U.& 0. Ry.. G.& E. consol. and ref. debs., $877,000 are deposited
under D. C. & D. By. & Lt. consol. & ref. M., 8468,000 are reserved
to retire other bonds and $2,655,000 for additions and improvements.
ROAD.-Operates 12.60 miles of track in and between Champaign and
Urbana. Has 32 motor cars and 5 others.
(d) Urbana Light, Heat & Power Co.
Controls the electric lighting and steam-heating business of Urbana.
Entire stock is owned by Illinois Traction Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $150.000
$150,000
First mtge $56.000 ($500)_ctf 1903
See text.
5 M-N
13.500
First consol mtge $200.0001 1909
5 J-D
See text.
92,000
($1.000)
tflCentral Tr. Co.of Ill., Trustee. int. in Chic.
Consolidated and refunding), 1913
10.000 Mar 1 1938
5%
mortgage
tfjCentral Trust Co. of Illinois. Trustee.
Bonds.-First mortgage bonds mature $2,000 to $4,500 annually on
May 1 until May 1 1920. $34.500 retired up to Jan. 11917. Of 1st consol.
mtge., $36,000 are reserved for prior bonds and $72,000 are for new construction. Bonds mature on Mar. 1 yearly from 1918 to 1927. They
are guar. by Illinois Traction Co. V. 89, p. 167. The entire outstanding
amt.(310,000) of consol. & ref. bonds are deposited under Danv. Chem. &
Dec. By. & Lt. mortgage.
OFFICERS.-Pres., W. B. McKinley; Sec.. E. A. MacNutt; Treas.
Geo. M. Mattis; Gen. Man.. II. E. Chuiobuck.-V. 89, p.167.
(9) Danville & Eastern Illinois RS,.
Stock, $125,000. Temporary bonds to the amount of $50,000 (5%) are
outstanding, due 1927.
(10) Danville & Southeastern Ry. Co.
ORGANIZATION.-Incorporated in Illinois on Jan. 14 1909.
Date
STOCK AND BONDSinterest.
Outstanding. Maturity
All owned by Illinois Traction Co.
Stock
First mortgage $100.000 gold,1 1909 5 g J-J
360,000 July 1 1929
c&r Mint. at Central Trust Co., Chicago, trustee.
(31,000)
Bonds.-Subject to call at 105 and int. on any int. date. Guaranteed.
p.
by Illinois Traction Co.
ROAD.-Operates 2.82 miles of road from'Danville City limits to Grape
Creek coal district. 70-lb. rails.
OFFICERS.-Same as those for Illinois Central Traction Co.
(11) Danville Urbana & Champaign Ry.
ORGANIZATION.-Incorporated in Illinois under the railroad law on
July 28 1902. Owns the Danville Paxton & Northern Ry. Mostly private
right of way.
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
Stock $250,000
$250,000
First mortgage $2,000,0001 1903 5 g M-S
2,000.000 Mch. 1 1923
gold $1,M0) guaranteed Interest at Agency of Bank of Montreal,N.Y.
c* UNorthern 'Trust Co., Chicago, Trustee.
Second mortgage 3500,0001 1905 6 g
142,000 See text.
gold ($1,000)
tf f Int. at Agency Merchants' Bk. of Can., N.Y.
General mortgage bonds__ tf 1910
6%
700,000 Nov. 1930
Bonds.-The first 53 have no sink. fd., but are subj. to call on any int. date
upon 90 days' notice at 105 & int. The bonds are guar., p. & 1., by end. by
Danv. St. Ry. & Lt. Co. and Urbana & Champaign Ry., Gas & Elec. Co.
V. 81, p. 264. The 2d 6s mature $50,000 on Jan. 11903 and $50,000 each
Jan. 1 thereafter. The $50,000 due on Jan. 1 1908 and $50,000 due Jan. 1
1909. as well as $42,000 of the $50,000 due Jan. 1 1911. were extended,
$358,000 have been retired. They are subject to call at par on 30 days'
notice. Are guar., p. & I., by III. Trac. Co. Trustees are Montreal Tr. &
Dep. Co. and Thos. Fyslie.
ROAD.-Operates 76.16 miles of track over private right of way, connecting the cities of Danville, Urbana and Champaign, with branches from
Danville to Georgetown and Ridge Farm; Danville to Catlin and Ogden
to Homer. 70-lb. rails. Has 22 motor cars, 11 electric locomotives and
146 miscellaneous cars.
OFFICERS.-Pres., W. B. McKinley; Sec., E. A. MacNutt; Treas..
Geo. M. Mattis.-V.81. p. 264; V. 83, p. 435; V. 84, p. 338; V. 88, p. 563.
(12) Des Moines S: Central Iowa Electric Co.-A holding company.
ORGANIZATION.-Controls the Iowa subsidiary properties of the
Illinois Traction Co., which include the electric-light and power companies,
serving Des Moines. Oskaloosa. Colfax, New Valley Junction, New Sharon.
Prairie City and Montezuma and the street railways in Oskaloosa. Controls the Des Moines Electric Co. and the Oskaloosa Traction & Light Co.
The bonds of this co. are secured by pledge of $308,000 gen. mtge. 6%
bonds of the Des Moines Elec. Co. (total out) and all the common and pref.
stock of the same co. Also 387.000 gen. mtge. bonds and all the stock of
the Oskaloosa Traction & Light Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock. 31,000,000 (81001 ___ -All owned or controlled by 111. Trac. Co.
Sig fd gold bonds,$10,000,000 1913 6 g M-S
31,282,000 Sept 1 1937
($500 & $1,000) red at 105 Interest at First National Bank. New York,
& lot guar p & I and s f by
or the Central Trust Co.ofIllinols,Trustoo.
end by Illinois Trac Co.c*
Des Moines Elec 1st M $5,-' 1908
5 M-N
2.217,000 Nov 1 1938
000,000 (81.000) s f____tf Interest at American Trust Co.. Boston.
Osk T & Lt Co bds 3300,0001 1903
231,000 Jan 1 1923
5g
($1,000) gold sink fund..c*lInt. at U.S. Mtge.& Trust Co.. N. Y..Trus.
Bonds.-Additional sinking fund gold bonds can only be issued for 80%
of the coat of improvements, &c.. to the sub cos., and certain other restrictions. Annual sinking fund of 1% of bonds out began Sept. 1914.
Des Moines Elec. Co. 1st M. bonds are subject to call after Nov. 1 1914
at 105. Sinking fund, 1% of bonds Nov. 1 1914-21; 1 % 1926-31; 2%
1931-37. Oskaloosa Trac. & Light bonds have sinking fund of $5.000 to
be delivered to trustee annually. V. 98, P. 839. 1536.




[VOL. 104.

Earnings.-For year end. Mar. 311915, gross, $874,318; net, after taxes.
3-118,450; bond interest. $177,136; surplus, $241,315.-V. 101, p. 287.
(13) Galesburg Railway. Lighting & Power Co.
ORGANIZATION.-Incorp.in Ill. Sept. 10 1913 and took over the Galesburg By. & Lt. Co., the Galesburg Gas & Elec. Lt. Co., the Knoxville
Elec. Lt. & Pow. Co. and the Abingdon Lt. & Pow.Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock. $3,500,000 ($100)Consul ref mtge, $5,000.0001 1916
5 g i-D
33,5
90
1.0
0,.0
00
M0
1934
($1,000) red at 105__c*&rf Int. at Merchants' Bank of Canada, N. Y
Galesb By & Lt 1st co
781,000
Galesb G & El Lt 1st M---------350,000
Bonds.-Suffielent consol. ref. mtge. bonds are reserved for prior liens
and remainder for additions, &c. Bonds are guar., p. & I., by Western
Railways & Light Co. E. Bentley, Hamilton, is trustee.
(14) Illinois Central Traction Co.-A trolley road.
ORGANIZATION.-Incorporated in Illinois in 1903 under general
railroad laws. Mostly private right of way
STOCK AND BONDSt
utstanding. Maturity.
Stock 31.100.000--------- ---------------$1,100,000
let mtge, $2.000.000 ($1,-), 1903 5 g J-D
1,469,000 Dec 1 1933
000) gold, guar
c*tffInt. at Old Colony Tr. Co., Boston. trustee.
Temporary general mort ___tf ___- 5 & 6
746,000 1929 & 1931
Bonds.-Are subject to call on any interest date on 60 days' notice at
i073,i and int. Are guaranteed. p. & I., by Illinois Traction Co. V. 82,
p. 804. A sinking fund of 10% of net earnings became operative Dec. 1
1908, but not to be less than 1% of bonds outstanding. 3145.000 hold in s.fd.
ROAD.-Operates 45.5 miles of track from Decatur to Springfield, with
an extension from Buffalo to Mechanicsburg; 70-1b. rails. Has 13 motor
cars, 4 electric locomotives and 118 miscellaneous cars.
OFFICERS.-Pres., W. B. McKinley; Sec., E. A. MacNutt; Treas.,
Geo. M.Mattis; Gen. Mgr., M.E.Chubbuck. V.82. p.801; V. 81. p.339.
(15) Jacksonville Railway & Light Co.
ORGANIZATION.-Incorporated in Maine in Dec. 1905 and is a consolidation of the Jacksonville By. Co. and the Jacksonville Gas Light &
Coke Co. Franchise perpetual.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
$100,000
Stock, $500,000 (8100)5 g J-J
Jack Ry&Lt 1st cons I11,31, 1906
573.000 Jan 1 1931
000,000,gu,g ($1.000)c*.tf Central Trust Co., Chicago, Trustee.
134,000 Jan 1 1931
lacksonv Gas Light& Coke ____
5 J-J
ntf Int. at Merchants' Loan & Tr. Co., Chicago.
Co first mortgage__
Bonds.-Of the $1,000.000 1st consols. $142,000 are reserved for prior
liens. Are guar.. p.& I. by Illinois Trac. Co. 2% of bonds out is payable
annually ton sinking fund. Are sub,to call on any int, date at 105. Int. at
Merchants' Bank of Canada. N.Y. $46,000 Jack. Gas L. & C. retired.
ROAD.-Operates about 7.65 miles of track and also does electric lighting
and gas business in Jacksonville. 14 motor cars and 9 others.-V. 95. P •
1512; V.97. p. 1733. V. 99, 1748.
(16) Jefferson City Light. Heat & Power Co.
ORGANIZ'N, &C.-Owns majority of stock of Jefferson City Bridge &
Transit Co. V. 97, p. 1666. Supplies gas and electricity to Jefferson City,
Mo., and furnishes current for operation of the street railway. In Nov.
1915 made a 9-year contract with city for street lighting. Has $200,000
common stock, $119,850 pref. stock, $200,000 1st M.5% bonds (cpt) due
May 1925 and $189,000 1st & ref. bonds outstanding.
(17) Madison County Light & Power Co.
Is a consolidation in 1906 of the Edwardsville Light & Power Co. and I he
Granite City-Venice Electric Co. Supplies light and power to Edwardsville, Granite City, Carlinville, Madison, Venice, Woodriver, Worden,
East Alton and several smaller towns; also electric current to Livingston
and Williamson, and furnishes gas to Carlinville. Two of the principal
franchises are perpetual; none expires earlier than 1956, except the easement
under which the co. operates in Granite City, which expires in 1925. In
Dec. 1912 increased its stock from $100,000 to $335,000. Stock all owned
or controlled by Illinois Traction Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $335,000
36
3(3
):5
3,0
000
0° Dec 1 1936
5 g J-D
1st mtge $1,000,000 ($1,000){ 1906
gold
etf Int. at agcy. Merchants' Bk.of Canada.N.Y.
Central Tr. Co. of Illinois, Chic., Trustee.
Bands.-Remaining bonds are for exts. and add'ns. Sink, fund of 13,6%
of bonds previously certified began Oct. 1 1916; bonds retired to be canceled.
Guar. p. & I. (end.) by Illinois Traction Co. Can be called on four weeks'
notice on any int. day at 105.
11.
91
Earnings or Cal. Yrs.- 1915.
1013.
1912.
1914.
Gross earnings
$179,321 $154,234 $137,859 $114,741 $93,559
Net earnings, after taxes
$68.496 $64,173 $57,610 $49,788 $29,385
NotiHo stated
Bond interest, &.;
27,790
26,550
and oarlinville;
plants in Edwardsv
Property.-Reserve electric power plan
a gas plant and gas-distributing system in the latter city; high-tension
transmission lines, sub-stations, &c. The company purchases, under a
contract extending until 1947, electricity generated in the power station
at Venice, controlled by the Illinois Traction Co.
(13) Northern Illinois Light & Traction Co.-'A trolley road.
ORGANIZATION.-Incorporated In Illinois and was successor In July
Fran1903 to the Ottawa Hy.. Light & Power Co.,sol under foreclosure.
chise perpetual for lighting and until 1930 for railway. TIM contract for
city lighting. Western Rys. & Light 0.owns all the stock.
In Sept. 1913 increased stock from $250,000 to $750,000. V. 97, p. 729.
STOCK AND BONDS- Date.
s,
ta8n,d
Interest. Out3
ocl
inog.
Maturie•
Stock, $750,0
00 4100)
$
First mtge, $1,200,000, goldf 1903
92
33
8
5 g J-J
*668,000 July 1 119
($500 and $1;000)...c*__tf ),Int. at American Tr. Co., Boston. 'Trustee.
General M ($1,000,000)------ _-__
6%
84,000
*All but $265.000 of these bonds are guar.. p. & I., by endorsement, by
Western Rye. & Light Co.
Bonds.-No sinking fund and bonds cannot be called. Remainine bonds
are for 80% of cost of additions, extensions and new properties, under conservative restrictions.
Ear/it/mg.-For year ending May 31 1916, gross, $315,469; net, after
taxes, $122,964.
ROAD AND PLANT.-Operates 6.5 miles of line, covering the principal
streets of Ottawa, and runs out of the city to Ellis Park, a pleasure
resort on the Illinois River. Also has extensions from Ottawa to Chautauqua Park. Equipment, 8 motor and 3 other cars. Also does entire electric light and power business in Ottawa and wholesales power to local
utility companies in La Salle, Utica, Seneca, Morris, and to the Chicago
Ottawa & Peoria Ry. At Marseilles owns a hydro-electric plant with steam
auxiliary, having a capacity of 8,000 h. p.-V. 97, p. 729.
(19) Peoria Railway Co.-A trolley road
ORGANIZATION.-Incorporated under general railroad laws of Illinois
n 1906 and is successor to the Central Railway Co. Has acquired, owns
and controls all street railway lines in Peoria and outlying suburbs of AverY!vine. Peoria Heights and East Peoria. The entire stock is controlled by
the Illinois Traction Co. Franchises in Peoria expire in 1926 and those in
adjoining districts in 1924.
Favorable Decision.-On Oct. 26 1911 the Illinois State Supreme Court,
reversing the Circuit Court, held that the City Councils could not grant a
franchise to the Peoria By. Term. Co. over streets to which the Peoria Ry.
already held a franchise. V. 93, p. 1535.
In Dec. 1912 increased its stock from $1,000,000 to $1,010,000.
On July 2 1915 the P. U. Comm. granted authority to issue $05,000
1st & ref. 5% bonds. Up to Jan. 1917 these had not been issued.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturit4.
10
4:000 see text.
05
$2
1:6
Stock. $1,010.000_
$3,600,000,c
1906
5
g F-A
gotld
&(r$
1,0
Virs
motg
me,
y00
c*tf Interest payable in Nol8y13
ork
o. 1926
- t 190
General mortgage
5%
Bonds.-0( the $3,600.000 first and ref. bonds, $291.000 are reserved
for additions and improvements at 75% of cost; 3570.000 have been retired.
They are guaranteed. p. & I., by endorsement by the Illinois Traction Co.
The bonds are secured by a first mortgage upon all properties and franchises of the Peoria Railway Co. now owned or hereafter acquired. The
trustee is the Illinois Trust & Say. Bank, Chicago, Ill. Remaining bonds
mature on Feb. 1 as follows: $95,000 in 1918,$100,000 in 1919, 5105,000;in

MAY, 1917.J

ELECTRIC RAILWAYS

1920, $110,000 in 1921, $115,000 in 1922 $120,000 in 1923, $125,000 in
$750,000 in 1926. They are
1924, $130,000 in 1925, and the remaining
subject to call on any int. date at 105 and int. See V. 83, P. 38, 436;
V. 89, P. 42; V. 90, P. 560.
ROAD.-Owns and operates 54 miles ofstandard-gauge track, 104 motor
cars, 23 other cars. Also owns valuable property near the centre of city and
considerable other real estate,including several amusement parks,estimated
to be worth $500,000.-V. 100. P. 613, 002, 1079; V. 101. p. 213.
(20) Quincy RallwaY Co.
ORGANIZATION.
-Incorp. In Illinois in 1012 as successor to the Quincy
Horse By. & Carrying Co. V. 94, p. 1628.
Does entire (electric) street railway business In Quincy. Principal franchise is unlimited, granted in 1865, and exclusively for 50 years. Other
franchises mature from 1022 to 1937.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $1,000,000
$1,000,000
tf 1912
Bonds. $1,500,000
5%
599,000 Feb. 1 1932
Quincy Horse By. & C. CO 1898
5%
400,000
ust 30. Oct 1 1918
'Portland Trust Co., Tr
($550,000)
ROAD.-Operates 22.85 miles of track; 51 cars.- V. 94, p. 1628.

23

(a) Topeka Railway Co.-Controlled by Topeka By. & Light Co.
ORGANIZAT1ON.-Incorp. under general railway laws of Kansas in
1892; in 1003 absorbed the Vinewood Park By., and made a new mtge. for
$1,250.000. On June 4 1903 obtained a new 30-.yearfranchise, running from
that date, with the provision that $400.000 be expended within 3 years on
the 'system. Also has secured franchises in perpetuity on county roads now
occupied, with privilege of hauling freight. City agrees never to reduce
rates to where company will earn less than 10% on stock. The city is to
receive 10% of earnings remaining after 10% has been earned. Upon expiration of fianchise city has the right to acquire the property, but not
before. V. 76, p. 866, 1302. On June 26 1916 authorized capital stock
was increased from $1,250,000 to $2,250,000. V. 103, p. 62.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $2,250,000 ($100)_
00
00
0 f.
10
5:0
1:2
15
$1
First mtge, $1,250,000, gold' 1904
5 g J-J
P
Jan 1 1930
($1.000)
c* tflInt. at Cent.& Comm.Tr.& S.B..Chic.,Trus.
Bonds.-Remaining bonds are reserved for 80% of cost of now powerhouse and for betterments and additions. Subject to call at 105 and int.
$135.000 have been retired. A sinking fund began Jan. 1 1910, which is
sufficient to retire $15,000 per annum at 105 and Interest.
EARNINGS.-For year end. June 30 1915, gross, $437,828; net, $219.693; interest and taxes, $88,144; dividends. $66,820; surplus, $64,729.
ROAD.-See Topeka Railway & Light Co. above.
OFFICERS.-Pres., W.B.McKinley, Champaign, Ill.; V.-P. & Treas.,
Geo. M. Mattis, Champaign; Sec., E. A. MaeNutt, Montreal.-V.81, p.
728; V. 82. p. 101; V. 90. p. 915, 978; V. 103. p. 62; V. 104, p. 74.
(25) Wichita Railroad Sc Light.-Trolley.
ORGANIZATION.-Chartered May 1 1900 for 30 years. Street railway franchise expires 1933, lighting in 1919. In 1910 entered into a 20-year
contract for purchase of power from Kansas Gas & Elec. Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock. $1,500,000 ($100)5300,000
First mortgage, $300,0001 1900
300.000
5 g A-0
Oct 1919
(51.000), gold _____ _ tilInt. at Portland Tr. Co., Porti'd, Me., Tru.s.
Ref.& cons.M.,$1,500,000,g.H.1907
5 g A-0
1.071,000 Oct 1 1932
Bonds.-lst M. bonds are subject to call at 105 on 6 months' notice.
ROAD.-Owns 32 miles of trolley track in Wichita, Kan., including
double-track bridge over the Arkansas River and extensions to Wonderland
Park and Fair Grounds; 75 cars.-V. 93, p. 941. 1192.

(21) St. Louis Electric Bridge Co.
ORGANIZATION.-Incerporated In Jan. 1907. Owns a bridge from
Salisbury Street, St. Louis, to Venice. Ill. In April 1900 company increased capital stock from $2,500 to 81.000,000. V. 88. p. 946. Stock all
owned by Illinois Traction. For franchise provisions, see V.85. p. 100.
Construction was started in Oct. 1907 and bridge was formally opened
un Nov. 10 1010. V.85.P. 100; V.88, p.946; V.91. p. 1328.
First mtge. geld(5%).auth..$3,500,000($1,000)tf; outstanding.$2,592.000; date 1913; duo Dec. 1 1929. B. Bentley Hamilton, Peoria., trustee.
This mtge. replaced the old (temporary) mtge. of 1909. V. 98. p. 74.
(22) St. Louis Electric Terminal Railway Co.
Owns extensive freight and passenger terminal stations costing about
$5000,000; also valuable real estate and a 50-year franchise giving the Illinois Traction an outlet in St. Louis. Also owns and operates city cars over
about 18 tulles of street railway in Madison, Granite City and Venice.
STOCK AND BONDS- Date.
Interest. Outstanding.
Maturity.
Common, $1,000,000
All owned by Illinois Traction Co.
Preferred 5%
$1,000.000
First mtge. $3,500,000, gold 1900
4-5 10-A
1,724,000 Dec 1 1929
($1,000). guar p & L__ _tf f Int. at Merchants'13k. of Canada. Montreal.
Bonds.-First M.(temp.) bonds are subject to call at par on any Interest
day. No sinking fund. They are guar., p. & 1., by Illinois Traction Co.
CHARLESTON, S. C.
CHARLESTON CONSOLIDATED RAILWAY Sc LIGHTING CO.
(23) St. Louis Springfield Sc. Peoria RR.
ORGANIZAT'ION.-lncorporated in Illinois Dec. 11909 as a consolidaORGANIZATION.-Incorporated in South Carolina on April 19 1010.
tion of the St. Louis & Springfield By., the St. Louts & Staunton By., the Leases for a period of 99 years from June 21 1010 the Charleston Cons. By..
Tr -City Trac. Co. and the St. Louis & Northeastern By. Operates on (4as & Elec. Co. Lease guar. 6% on pref. and 4% to July 11911, 5% to
private right of way except through cities and towns (about 17 miles), where Jan. 1 1913 and 6% thereafter on corn. stock; also int. on outstanding
franchises extend to or beyond 1953. In 1911 acquired the Springfield bonds of the Char. Cons. Ity., Gas & Elec.
Rates.-As a result of a compromise with the city, cheaper gas, electric
Belt By.
In 1912 acquired the Peoria Lincoln & Springf. By. Co.. the Peoria Bloom light and power rates were put into effect Nov. 1 1912. V. 95, p. 1206.
& Champaign Trac. Co., the Terminal Pow. Co. and the Springfield SG
STOCKPar. Authorized. Outstanding. Dividends.
Northeastern Traction Co.(acquired Nov. I tow).
$50 $1.500,000 $1,500,000
None
Iles long-time contracts for use of bridge and terminals of St. Louis Elec- Common
500,000
50
500.000
None.
tric Bridge Co. and St. Louis Electric Terminal Ity.. enabling it to operate Preferred
OFFICERS.-Pres., P. H. Gadsden; V.-P., Walton Clark; V.-P. &
directly Into St. Louis.
In March 1916 issued $1,000,000 Sen."A"5% pref. stock to retire a like Gen. Mgr., G. II. Waring; Sec., G. W. Curran; Treas., Jas. Ball;
amount of Gen. Mtge. bonds.
Asst. Sec. & Treas., C. M. Benedict.- V. 95, p. 419. 1206; V. 96, p. 862.
Fare Increase.-See Illinois Traction Co. above.
(1) Charleston Consolidated Ry., Gas Sc Electric Co.
Date. Interset. Outstanding. Maturity.
ORGANIZATION.-Organized Feb. 21 1800 as a con.solidation of the
STOCK AND BONDSCharleston City Ry. and Charleston & Seashore RR. under Special Act of
Common $6,000,000 ($100)-$6,000,000
Pref. $3,572,000 ($100) 5%--So. Car. Legislature, granting perpetual charter and gas & elec, light powers.
1st & ref mtge $15.000,000 gi 1900 5 J-D
000 Dec 1 1939 In Oct. 1912 sold to James Sottile the Seashore division, inel. wharf prop549,0
5
3:0
($1.000 coup & $1,000 or Illinois Trust & Say Bk, Chicago, trustee erties, ferryboats, the railroad line from Mt. Pleasant to the Isle of Palms,
with its equipment, and the power house on Sullivan Island. Sale was auth.
multiples reg.) _ _e*Szr* tt Interest In New York, Chicago or London.
St Louis & Springfield 1st M 1003 5 g J-D
451000 Dec 1 1933 by an Act of the Legislature approved Feb. 12 1913 and formal transfer
($1.000) a r Reid guar c*_tf Interest at City Trust Co., Boston, trustee. was made Mar. 15 1913. V. 96. p. 862. See Charleston-Isle of Palms
$15,000,000tf
StL Sp&P gen
Traction Co. below.
5%
2,765,000
1939
Springfield & Northeastern 1906
Franchises are perpetual. Also owns the capital stock of the Charleston
5 g J-D
145,000 Dec 1 1936
Traction 1st rage $l.500.-i Int. at agency Merch. Bank of Can., N.
Y. Gas Light Co. ($698,150) and the Charleston-Edison Light &Power Co.
0'
000 ($1,000) gold
($100,000). and thus controls the whole field of light and transportation
Central Trust Co. of Illinois, Trustee.
Peoria Bloomington & Chain 1906 5 g M-N
280.000 Nov 11936 In Charleston. V. 92, p. 880.
Trac 1st M $3,000,000 gold Int. at agency Much.Bk.of Candaa. N.
On March 18 1914 shareholders authorized the issue of $500,000 new comY.
c*tf
($1,000)
mon stock. V. 98, p. 090. 610.
Central Trust Co.. Chicago, Trustee.
Bonds.-Of the 89.955,000 1st & ref. bonds reserved for various purposes.
STOCK AND BONDS- Date,
Interest. Outstanding.
Maturity.
$145,000 are reserved for Springfield & Northeastern Traction Co. bonds,
Stock, corn, $3.000,000 ($50)- ---$2,897.600 See text.
3715,000 to retire prior lions, $1,858,000 to redeem a like
of general Prof 6% cum,$500,0
00 ($50)- ---J
500,000 See text.
2-j
mortgage bonds and $7,237,000 for 80% of cash cost of amount
additions and ex- Charleston City first mtge 1898
5 g J-J
717,000 Jan 1 1923
tensions. The $7,237,000 and the $1.858,000 for redemption
gen. nstge.
($1.000). $850,000 goldc tf Int. at Mere. Tr.& S. D. Co.,Balt.
bonds totai $9,0S5,000), excepting $500,000 ilssuable at any of
time
mtge,
for
52,500,gold,
Consol
80%
1899
5
g M-S
1,763,000 'Mar 1 1999
add'ns
& impts.) can be issued only when, for the
of cost of
preceding
coupon
Interest
000,
pon
12
($1.000)at
..stf
Baltimore Trust Co., Trustee
months, gross earnings have equaled five times and net earnings IV, times
Holders can also collect coupons at Carolina Savings Bank and People's
the interest charge on all bonds outstanding and those proposed to be issued. National Bank. Charleston, if presented
before the 10th of the month.
Redeemable at 105 on any hit. date. Bonds are unconditionally guar..
-Of
consolidated
Bonds.
the
5s. 3717.000 are reserved to retire a like
p & L. by Illinois Trac. Co. V. 90, p. 304; V. 05, p. 177. Are listed on amount of City By. first 5s. Charleston
City 1st 5s have a sink, fund of
dhic. Stock Exch. St. Louis & Springfield 1st M. bonds are subj. to call not exceeding $7,350 per ann. for the purchase or
redemption of said bonds
on any int. date on 60 days' notice at 1073 & int. Are guar., p. & 1., by at 105 and interest.
$145,000
of
bonds
Co.;
Trac.
Ill.
hold in s. f.
dividends
guaranteed
.-See
Dividends
under
lease
above.
Peoria Bloom. & Chain. Tr. 1st M. bonds are guar., p. & I. by III. Trac.
ROAD,&c.-Owns 37.51 miles of electric road in Charleston. The comCo. They are subject to call on any interest date at 105 on 30 days' notice.
consolidated
power
Its
has
two
pany
stations;
both
railway
and light and
ROAD.-Extends from Venice, opposite St. Louis, to Peoria and Bloom- power divLstons are being operated from same station.
ington, with branches from Staunton to I lillsbore. Trackage, 210.49 miles;
OFFIOE B.S.-Pres.. Philip II. Gadsden; Sec. & Treas., Chas. J. Bendt:
main track, 10.10 miles bolt line, 0.29 miles second track, 23.06 miles of sidings and turnouts and 7.59 miles of industrial tracks; total, 251.53 miles. Aast. See. & Treas.. M.0. C. Tessier, all of CJharisoton. Offices, No. 141
Meeting St., Charleston.-V.95, p. 1122; V. 98. p. 610, 999.
Standard gauge. Owns 57 motor cars, 9 locomotives and
misc. cars.
-v.95, P. 17/, 237; V. 08, P. 691; V. 102, p. 63; V. 103,513'
p. 1302.
CHARLESTON-ISLE OF PALMS TRACTION CO.
(24) Topeka Railway & Light Co.
ORGANIZATION.-Incorp. In S. C. Jan. 9 1913 with auth. capital of
ORGANIZATION.-Incorp. in Maine and owns the Topeka
51.000.000.
to build railroads, steam or electric, street railways, &c..
By. Co. operate
(see below) and the Topeka Edison Co.(V. n, p. 730). These own
ion sotfertstrineb
what
aisI tgms
&w
zals formerly
tao
kr vyer 4:1as
m s.krllsyo the Seela
ec
sItTirce
.
and
operate without competition the street railway, commercial electric light
Charleston
and power and steam-heating properties In Topeka and the suburb of Oak- lighting business.
land. Population served (1:415 State Census), about 50,000. Franchises,
ROAD,&c.-Owns 10 miles from Mt. Pleasant (connecting by ferry with
Charleston) to Sullivan's Island and Isle of Palms, a pleasure resort on
with one minor exception, extend beyond Feb. 1 1933.
the Atlantic Coast. incl. land at Isle of Palms, ferry, power house on
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity. Sullivan's Island and sub-station at Mount Pleasant, &c. Owns and operCommon stock
ates 19 pass. and 3 freight cars and 2 ferry boats.
$1,500,000
Preferred stock
OFFICE RS.-Pres., James Sottile: Chief Eng., W. W. Fuller: Charles519,0SO
M
$7,500,000
ref
&
g
lien
1st
1916 5 g F-A
ton.-V. 96. p. 201. 862.
1,314,000
Feb.
1
1933
($100,$500,$1,000,&c)c*&r* Int. in N.y. Now York Trust Co., Trustee
5
Topeka Edison 90 mortgage 1905
821,000 Sept. 1930
CHARLESTON, WEST VIRGINIA.
tf Int. at Cont.&Comm.Tr.&S.B.. Chic.,1Trus.
$1,250,000
5 g j-s
Topeka By mtge (see that co)_ 1904
1,115,000 Jan. 1 1930
CHARLESTON INTERURBAN RR.
and
lien
ref.
bond.s are secured by pledge of the entire
Bonds.-The 1st
ORGANIZATION.-ineorp. in
capital stock which
capital stocks and, excepting $1,936,000 underlying issues, all the bonds was increased on Nov. 10 1014 to 1909 with 3100.000
in part for the purchase of
of the subsidiary cos. 31,936,000 aro reserved to acquire or retire under- the Charleston Traction Co.. a line$1.500,000
from St. Albans to South Oharleston.
lying bonds, and remaining $4,250,000 may be issued to the extent of 80% taken over as of that date. and in part
a stock dividend, all earnings for
of cost of additions and impts. to the properties of the sub. cos., but only four years having gone into extensions as
and betterments.
when annual not earnings are 1% times the annual int. charges, incl. the
Lease.-Leases
Kanawha Valley Traction Co.(whose $500,000 capital
bonds proposed and all underlying bonds held by public. They are guar., stock is owned bythe
the Ohio Valley Electric ity.) for 99 years from Jan. 1
P. & I., by the III. Traction Co. and are red., all or part, on ally int. date 1910 at an annual rental beginning with 310.000 the first year
and inat 105 and int. Sinking fund beginning Aug. 1 1917 of 13,i% per ana. to creasing
to 820.000 in 1916 and thereafter,and has assumed that company's
and Incl. 1929 and 1% thereafter of the total amount of bonds outstanding 1st M. bonds.
amounts
(incl. underlying bonds), less
paid on account of sink, fund. reFranchise of the Traction Co. in the city of Charleston expires in 1954;
quirements of underlying mtges. (It is estimated 32% of the $3,250,000 nterurban lines are operated almost
entirely on private rights of way.
outstanding bonds will thus on retired Fob. 1 1933.) Bonds in fund to be
AND BONDSSTOCK
Date.
Interest. Outstanding. Maturity.
hold alive. . The Topeka Edison Co. bonds have a sink, fund of $15,000
($100)
Stock,
_____
$1,500,000
per ann., payable Dec. 15. $120.000 have been retired.
45.500,
Beginning with Coll tr notes, $750.000 gold
tile 2-year period ending May 311918, and during each 2-year period there6 M-N
1915
51.00
"
00 May 11018
after, there must be sot aside for malnt.& deprec. an amount averaging 12%
U Safe Deposit & Tr. Co., Balt., Trustee.
Ka
(n
3learTIre lst M,$2.000,000 1906
of the combined annual gross earns, of tile sub. cos. V. 104, p. 74.
5 g J-J
1.000,000 Jan 1 1946
($1.000) golds
tf Int. at Fidelity Trust Co., Phila., Trustee.
EARNINGS.-Year ending Oct. 31 1916. gross, $788,378; net, after
Bonds.-Payment of prin. and int. of the ICanawha Val. Trac. Co. bonds
=tint. & taxes, $325,863. Annual interest requirements on $3,250,000
assumed
Charleston Interurban RR. $1.000,000 of the
has
by
been
the
outstanding bonds, $l62,500.
bonds have been deposited as security for the coll, trust notes issued by
PROPERTIES.-39 miles of electric street railway, largely 70 to 79-lb. the Charleston Interurban.
rails;
51 double and single-truck motor cars, 28 trailers; power plant, genT
-Secured by deposit of 51,000.000 Kanawha Valley Traction Co.
erating capacity, 5,893 h.p.; 255 miles of power and light-distributing linos 1stNotes.
M. bonds. Rod. on any Int, date at par and int. on 6 weeks' notice.
and 8,300 meters; exhaust steam system for heating purposes; miscellaneous
Dividends.-The company has agreed to pay no dividends during the
real estate.-V. 104, p. 74.
life of the notes.




1

24

ELECTRIC RAILWAYS.

[VOL. 104.

ROAD.-Miles of track, 3.45; standard gauge. Rails, 83-lb. girder and
Balance.
Net (after Bond,8:c.
EARNINGS- Gross.
Surplus. 50-in. T. 16 cars. 1 power station.
Rental.
Interest.
Taxes).
Earnings.
Cal. Year, Frederick C. Todd; V.-P., John L. Livers; Sec. &
OFFICERS.-Pres.
$53,790
$20,000
$88,812
$162,602
$326.149
1916
40.737 Treas., W.R. Morton.-V.100, p. 1436; V. 103, p. 2428.
15,000
55,710
111,447
245,168
1915
Cabin
and
Albans
St.
between
ROAD.-Operates 36 miles of track
Creek. Line is to be extended to Montgomery, about 10 miles further on.
CHICAGO, ILL.
70-lb. T and girder rail. Standard gauge.
AURORA ELGIN & CHICAGO RR.-Third-rail electric and trolley.
OFFICERS.-Pres., W. A. MacCorkle; V.-P., J. E. Chilton; Sec. and
Treas.. F. M. Staunton.-V. 100. D. 228. 1917.
ORGANIZATION.-Is a consolidation in April 1906 of the Aurora Elgin
& Chicago Railway, the Elgin Aurora & Southern Traction Co. and the
Cook County & Southern RR. V. 82, p. 279, 691, 1155. Chartered in
CHARLOTTE, N. C.
Illinois under law applying to steam railroads. Pres. L.J. Wolf, in a letter
'
dated May 20 1909 (V.88. p. 1618),stated that system is"in the main on
SOUTHERN PUBLIC UTILITIES CO.
Allied with the Southern Power Co., which see in our "Railway and In- private right of way or protected by 50-year franchises or grants without
limit." Does freight and express as well as passenger business. V. 83,
dustrial" Section.
p. 490. Has exclusive contract with the Metropolitan West Side Elevated
ORGANIZATION.-Incorp. in July 1913 in Maine as a consolidation to
operate over its tracks.
of the Charlotte Electric Ry., Charlotte Gas & Electric Co. and Charlotte
Stockholders voted Oct. 18 1910 to purchase the Chic. Wheaton St WestElectric
Charlotte
the
to
Jan.
1911.
prior
1
forming
three
Power Co.(these
Ry.,which runs from West Chic.to Geneva,abt. 10 miles. V.91,p.517.
ern
the
in
Ry., Light & Power Co., which company issued the bonds shown
Interest. Outst'd'g. Div.&due date.
STOCK AND BONDS- Date.
table.-See "Electric Ry." Sec. for May 1915); Greenville (S. C.) Gas &
$3,100,000 See text.
Q-J
Power
St
Mfg.
Fries
Traction
$3,101,000 ($100)-Co.;
Greenville
Common,
Electric Light & Power Co.;
3.100.000 See text
Co.. Winston-Salem, N. C.; Winston-Salem Power do.; Anderson (S. 0.) Pref $3,100,000($100)6% cum ---3,078,000 July 1 1946
First and refunding mortgage{ 1906 5 g
Water,Light St Power Co.. Shester (S. O.) Power Co., Thomasville(N.C.
$15,000,000, gold ($1,000) Int. at Cit. Say. & Tr. Co., Cleve., and also
Power Co., Greer (S. C.) Light & Power Co. and Thornton Light &
in N. Y. Trustee, North. Tr. Co., Chic.
c*&r*tf
See text
Power Co. (Hickory, N. C.). Owns entire $250,000 common stock of
800,000 Mar 1 1918
the Greenville-Carolina Power Co. (there is also $200,000 6% cum. pref. Coll trust notes $800,000 red.). 1915 6 g Q-J & Trust
Co., Cleve.. Pros.
lCitizens' Sayings
at 101-1004
stock outstanding) which owns and operates a 3,500 h. p. hydro-electric
5 g A-0 15 2,650,000 Apr 15 1941
plant near Greenville. The Charlotte Elec. Ry. in May 1915, through an A E & 0 By first mortgage 1901 Tr.
Bank,
&
Say.
Chicagc., Trustee.
Amer.
gold
$1,000.
to
($1,000),
from
$1,250.000
stock
$3,000,000
capital
its
reduced
charter,
its
in
amendment
tt Interest payable in Chicago and New York.
cannot be called
Franchises with one minor exception are either unlimited in time or run
1.568,000 June 1 1919
5 g J-D
Elgin Aurora & Southern first 1901
beyond July 1943.
mtge, $2,000,000 ($1,000) Int. at Amer. Tr. & Say. Bank, Chicago,
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Trustee, and First Nat. Bk., N. Y. City.
gold, sinking fund____c*tf
$5,000.000
Stock $5.000,000($100)1943
1
July
3,953.000
Stock.-Pref. stock was 5% cum. until April 1 1909: since 6% cum.
1st Sr ref M $30,000,000 gold). 1913 5 g J-J
Bonds.-Of the $15.000,000 (originally $25.000,000. but reduced in 1910)
($1.000,115,000,&c.)c*&r*.tflint.at Farmers'L.& Tr. Co., N Y.. Trustee
1st & re.; bonds, $1215.000 are in treas.,$4,268,000 reserved for prior liens
Underlying Bonds325,000 July 1 1929 and the balance for improvements, extensions and self-supporting acquisiChar Bloc By. L & P 1st Ml 1899 5 g J-J
They are not subject to call now. See V.
$500,000 g ($1,000)sfc*n tf Int. at Mere.Tr.& Dep. Co. Bait., Trustee. tions, under rigid restrictions.
466,600 April 1 1936 88, p. 1618. Collateral trust notes are secured by deposit of $1,067,000 1st
Char Elee Ry,L & P ref & ext 1906 5 A-0
payable in N. Y. and Cleveland. V. 100,
M $2,000,000g($1,000)c*tf Int. at Merc. Tr.& Dep. Co., Bait.,Trustee. and ref. mtge. 5% bonds. Int.Chic.
By.a sinking fund of $50,000 per ann.
489.000 Jan 1 1940 p.811. On the Aurora Elgin &
Fries Mfg & P 1st M gold). 1900 5 g J-3.
74 p. 726. 3350.000 have been retired.
See
trustee.
V.
Y..
N.
on
Co.,
1911.
April
15
Tr.
began
($1,000) optional at 110-_ _lint. at Equitable
The Elgin Aurora & South. bonds originally matured June 1 1916, but were
382,500
Anderson Water Lt & P Co
extended to June 1 1919 unless sooner red, by co. at $1,005 per bond;
54.000
Winston-Salem Power Co_
remaining $432,000 held in sinking fund.
Bonds of Controlled, &c.,Cos.Dividends.-First dividend on pref.-134%-paid July 1906 (V. 82, p.
278,000 May 1 1935
Greenv-Caro Power 1st M gl 1905 5 g M-N
April 1909.
Mint. at Old Colony Tr. Co., Boston, trustee 1436), and the same amount quarterly up to and including
($1.000)
increased to 134% and same amount paid quer. to
Bonds.-Of the 1st and ref. bonds, $1,567,500 are reserved for prior liens: July 1909 dividend1915
div. omitted (V. 101, p. 1012) and none paid since.
remainder issuable for 70% of cost of extensions and acquisition of other Aug. 11915. Oct.dividend-4
%-Oct. 7 1907. In 1908 to 1913, incl.,
properties. Redeemable in whole or in part at 105 and interest. The On common, first.
%; April, %;July. %;Oct. div. deferred
Charlotte Electric By., Light & Power 1st M. bonds have a sinking fund, 3% Yearly. In 1914, Jan.
paid since.
none
'
and
968),
p.
drawn
99,
F194.
(V'.
bonds
in
invested
be
to
out;
bonds
of
of
operative July 1 1900. 1%
REPORT.-For year ending June 30 (1916 report in V. 108, p. 1790):
by lot at 1073 and int. if not obtainable at lower figure in open market;
DiviBalance,
(after Other DeducNet
Gross
sinking
ending
a
Year
have
bonds
mtge.
ext.
and
The
ref.
canceled.
been
have
$45.000
dends. for Year.
June 30- Earnings. Taxes). Income, lions.
fund operative April 1907 of 1% of bonds issued, for purchase of bonds at
31,950,510 $651,008 $257 $489,210 None sur.$162,055
107% and int., if obtainable; otherwise,such investments as trustee deems 1915-16
1,968,137 608,790 1,091 443,438 186,000 def.19,557
proper. V. 88, p. 1252. $19,000 have been retired. A sinking fund of 1914-15
2.094,157 697,365 2,027 418,759 279,000 sur. 1,633
f913-14
1% on the Greenville-Carolina Power Co. bonds began May 1 1910.
from 5th Ave. station in City of Chicago, over tracks
-Operates
ROAD.
1915-16.
1914-15.
30:
EARNINGS.-For years ending Sept.
Chicago; thence on its
$1,554,837 $1,740,199 of Metropolitan West Side Elev. road, to 52d Ave.,
Gross income
686,026 own line to Wheaton, with lines from 'Wheaton to Elgin, Batavia, Geneva
568,229
Net, after taxes
St. Charles,
to
Dundee,
Carpentersville,
from
Elgin
also
Aurora;
and
279,070
Interest on $5,520,500 outstanding bonds
Geneva, Yorkville and Bristol, and a line from Wheaton through West Chi$406,956 cago to Geneva. Total single track, 169 miles. Third rail, standard T.
Surplus
80 lbs.; interurban and city lines,60-100-lb.T and girder
PROPERTY.-Operates 70 miles of street railway; 60, 70 and 90-1b. T 100 lbs.* track rails,cars;
2 express cars; 6 snow-plows and sweepers; 5 other
and girder rails; gauge,4 ft. 8% in. Power and light primary lines aggre- rails; 114 passenger
127.
cars,
total
Charcars:
serving
plants,
gas
2
16
communities;
serving
and
miles
gating 1.644
J. Wolf, Cleveland; V.-P., M. J. Mandelbaum;
L.
RS.-Pres.,
OFFIOE
Anderson
serving
lotte and Greenville with 87.5 miles of mains; water plant
Sec. and Treas..
Mgr., Edwin C. Faber, Wheaton.
with 26 miles of mains. Leases Savannah Power Co.'s plant near Anderson; V.-P. and Gen.
Sec., A. Born; Asst. Treas., H. J. Manning;
Asst.
Cleveland;
Lang,
C.
of
H.
h.p.,
24,000
plants
operated,
of
capacity
Total
capacity. 3,000 h.p.
Guardian Bldg.,
offices,
Executive
Ill.
Aurora,
Nevins,
A.
H.
conAud.,
which 19,000 h.p. is hydro-electric generation. Also has favorable
Cleveland, Ohio.-V. 102, p. 1895; V. 103, p. 1300, 1790.
tract with Southern Power Co. for the purchase of additional power.
C.
W.
Sec.,
Harrill;
V.
A.
-P.,
V.
Taylor;
V.
OFFICERS.-Pres.. Z.
CHICAGO SURFACE LINES.
Parker; Treas., E. C. Marshall: Gen. Mgr., E. F. Tayier.-V. 97. p. 241.
Under the title of Chicago Surface Lines the properties of the Chicago
180; V. 101, p. 1886; V. 104, p. 1046.
Railways Co. and the Chicago City Railway Co. are now being operated
as a single system under the control of a joint board of operation in accordPIEDMONT Sc NORTHERN RV.
ance with an agreement between the two companies and the unification
ORGANIZATION.-Incorp. on Feb. 24 1911 in South Carolina, and on ordinance which became effective Feb. 1 1914. While under the terms of
or about July 1 1914 took over the properties of the Piedmont Traction Co. this ordinance and the agreement the ownership of the properties remains
proas
The
system
Co.
Ry.
and the Greenville Spartanburg & Anderson
entirely separate and distinct, the combined earnings are divided upon an
jected is to extend from Durham, N. C., to Greenwood, S. C., 320 miles. agreed basis. For the two years ending Jan. 31 1916 the Chicago Railways
Power is obtained from Southern Power Co.. which is controlled by the Co. received as its share 59% of the income remaining after the paysame interests.
ment of all operating expenses, including taxes and maintenance, the other
Interest. Outstanding. Maturity. 41% of the income going to the Chicago City Ry. Co., including the
STOCK AND BONDS- Date.
$10,000,000
Calumet & South Chicago Ry. and the Southern Street Ry., and, beginStock $15,000,000 ($100)July 1 1954 ning with Feb. 1 1916 and until the expiration of its franchise in 1927, the
See text
First mortgage $50,000,000 1914 5 g J-J
c* ntf Int. at Farmers' Loan & Tr. Co., N.'Y., trus. Chicago Railways Co. will receive 60% of the so-called "residue receipts,"
($1.000), gold
July 1 1919 and the Chicago City Ry. (including the Calumet & South Chicago and
See text
1st M coil notes $8,500,000 1914 5 g J-J
N.Y.,trus. the Southern Street Ry.), 40%. The plan provides for a 5-cent fare
g ($1,000 & $100) not inter Int. at Farmers' Loan & Tr. Co..
one
Stock.-Of the amount reported outstanding,$1,415,4001s held in treas'y. throughout the city on surface lines, also through routing of cars from
division of the city to another. See details of the ordinance and the
Bonds.-Of the $50,000,000 authorized, $10,000.000 are issued and agreement
p.
98,
V.
in
1913
1
of
Dec.
under
date
operations
for unified
pledged as security for the $8,500,000 notes. Red. at option of co.,in whole
file quo warranto proit is 1693. An order permitting the State Attorney to
or part, any int. date after July 1 1914 at 105 and int. Of the notes,subwas
in
denied
ordinance
of
unification
the
legality
question
to
ceedings
reported that a majority of them have been taken privately by the
1915. V. 100, p. 1078.
scribers to the road. The remainder will be held in the treasury until March
Lines.-See remarks under
Elevated
and
Surface
Unite
to
Proposition
disposed of in a like manner.
Chicago Elevated Railways.
EARNINGS.-For fiscal year ending June 30:
Wage Increase.-See "Chicago Rys." in V. 101, p. 212.
Balance,
Interest,
Other
Net (after
Gross
June 30
Decision.-On April 19 1917 the Ill. Supreme Court upheld the right of
Surplus.
Income.
Taxes).
Year- Earnings.
street car service in Chicago
$141,497 the State Public Utilities Comm. to regulate
$347,675
$11,452
$477,720
1915-16_ _ 31,127,658
the contract ordinances of 1907 between the
8,256 regardless of the provisions ofsurface
338,853
11,966
335,143
1914-15____ 948,307
The
city may appeal.
lines.
the
and
Council
City
Chicago
and
For the six months ending Dec. 31 1916 gross earnings were $645,409
REPORT.-Of entire system for years ending Jan. 31:
net earnings $297,326.
Residue -Of Which to---Operating
Gross
ending
Year
Receipts. Chic. C.14., Chic. R113.,
Expenses.
ROAD.-Owns and operates 23% miles from Charlotte to Gastonia,
Jan. 31- Earnings.
89.90 miles Spartanburg to Greenwood, S. O., with branches from Belton 1916-17
$34,789,636 $21,743,523 $13,046,113 $5,218,445 $7,827,668
21,041,356 10,649,405 4,366,256 6,283,149
to Anderson, 11.30 miles, and from Belmont Jet. to Belmont, 3.19 miles 1915-16
31,690,761
(opened March 1 1916), total mileage of track operated,incl. spurs and sid- 1914-15
31.966,048 19.889,275 12,076,77;1 4,951,477 7,125,296
ings and 9.50 miles operated under contract, 201.58. Equipment consists
Board of Operation.-Chairman Henry A. Blair, Leonard A. Busby.
of 23 motor-driven passenger cars; 8 trailers, 2 observation parlor cars, Charles 0. Adsit, Wallace Heckman, Harrison B. Riley, John M. Roach.
158 freight cars, 3 street cars, 12 electric and 2 steam engines and 10 work Frank 0. Wetmore.
cars.
Executive Committee.-Leonard A. Busby, Chairman; Henry_ A. Blair.
OFFICERS.-Pres., J. B. Duke, N. Y.; V.-P., W. S. Lee; V.-P. &
OFFICERS.-Pres.. L. A. Busby; Sec. & Asst. Treas., F. D. Hoffman;
Gen. Mgr.. E. Thomason; Sec., N. A. Cocke; Aud. & Treas., T. L. Black. Treas., M. B. Orde; Gen. Aud., Jno. J. Duck.
all of Charlotte.-V.99, p. 199, 748; V. 104. p. 1490.
trust.
CHICAGO CITY & CONNECTING RYS.-A collateral
Formed in 1910 under a trust agreement, to take over the stock of the
Chicago City Ry., together with the securities of the Calumet & South
CHARLOTTESVILLE, VA.
Chicago By., the Southern Street Railway, the Hammond Whiting & East
CHARLOTTESVILLE & ALBEMARLE RY.Chicago Ry. and the Chicago & Western. These properties comprise apORGANIZATION.-Organized in Virginia and formed by an agreement proximately 503.5 miles of street railway in scuthern division of Ohicago
of consolidation dated Nov. 24 1913 between the Redland Power Corpora- and vicinity. See outline of plan in V. 90. P. 658,625. Trustee, Chicago
tion and the Charlottesville & Albemarle Ry. A lighting and power com- Title & Trust Co.
pany with a short interurban railway as an adjunct. Light and power franOn April 19 1913 the Ill. Supreme Court affirmed the decision of the
chises are perpetual; County Ry. franchises are perpetual, while city fran- Superior Court of Cook County in the suit brought by Clarence H. Venner,
chise expires in 1944.
which held valid the agreement dated Jan. 1 1910. creating the Chicago
(V. 96, p. 1364. 1627). An
STOCK AND BONDS- Date. Interest. Outstanding. Maturity. City and Connecting Rys. Collateral Trust
$500,000 Dec'16, 2
appeal was taken to the U. S. Supreme Court, but in Nov. 1914 suit was
Common stock $500,000($100)
V.
in
99.
p. 1527.
Ry.
City
"Chic.
3
See
Dec'16,
dismissed.
J-D
122,700
($100)
7
stk
%cum$200,000
Prof
Proposition to Unite Surface and Elevated Lines.-See "Chicago Elevated
376,000 April 1 194
First mortgage $750,000 gold). 1915 6 g A-0
Rys. below and statement by Chairman Riley in V. 104, p. 72.
c*cptlInterest payable in Baltimore, Md.
($1,000)
Maturity.
Bands.-Additional bonds may be issued only for 85% of cost of impts.
STOCK AND BONDS- Date. Interest, Outstanding.
See text.
150.000 shs.
s-a
and exts. anti only when net earnings for the past 12 months are equal to Com part certs 150,000 shares.. -250,000 sh.s. Jan'17. 234
s-a
twice the interest charges on the bonds outstanding and those to be issued. Pref part certs 250,000 shares_
Jan 1 1927
A special depreciation and reserve fund is provided out of gross earnings Coll trust mtge $22,000,0001 1910 5 A-0 $21,677.000
for maint., Sm. Red. at 105 and int. on 60 days' notice. See offering
gold sinking fund c*&r* tf f Int. at 1st Tr.&S.B.Chic. Trus., or inN. Y.
'
have no par
in V. 100, p. 1436.
Participation Certificates.-Preferred participation shares
first
Dividends:-7% per ann. is being paid on pref. stock. On common
value but are entitled to preferential cum. diva. aggregating $4.50; also, _
div. of 2% and 1% extra paid in June 1916. In Dec. 1916 paid 2%%•
after corn. partic. shares shall have received $4 in any year. the remaining
to
surplus, not exceeding in any year $1,000,000, shall be paid ratably,
EARNINGS.-For years ending Dec. 31:
to corn., but in no case will the prof. certfs. be entitled to more
Pref. Div. Surplus. pref. and
Chgs.
Other Inc.
Net.
Gross.
Yearof
trust
distribution
preference
upon
have
also
per
annum:
each
$7
than
$27,434
$8,589
$28,072
$495
$63,600
1916..___$114,819
22,705 fund to the amount of $100 each and accumulated dividends.
6,567
26,603
643
55,232
1915.__. 103,383




SI av, 1.9174]

ELECTRIC RAILWAYS

Bonds.-Coupon bonds in denom. of 31.000; registered bonds $1,000 or
multiples. A sink, fund of $105,000 of bonds p. a. began Mar. 1 1915.
Bonds are redeem. for the s. f., or as a whole, at 105 and int. $323,000
have been redeemed. In case of purchase of property of the Chicago City
Ry. by City of Chicago, or termination of trust agreement of Jan. 1 1910.
then bonds are redeemable at par and accrued interest. See V. 90, p. 558.
625. Bonds are listed on N. Y. Stock Exchange. V. 94, p. 1118.
Stocks and Bonds Deposited to Secure the Coll. Tr. Bonds.
Stocks (par).
a Bonds (par)
None
Chic. City Ry.,value $200 per $100 sh.$16,971.900
*10,000,000
Calumet & South Chicago Ry
*2,400,000
Southern Street Ry
*1,000,000 *1.000,000 new 1st 5s
Hammond Whiting & East Chic. Ry
*72,000
Chicago & Western
$30,443,900 $1,000.000
Total
* Entire issue.
a Under provisions of the trust mortgage these respective issues of bonds
each as an entirety may be converted into capital stock of the respective
companies to an equal amount.
Dividends.-On pref. part. ctfs. $2.25 per share was paid semi-an,
from June 1910 to and incl. July 1914. In Jan. 1915, $1 25; July, $1 25.
In 1916, Jan., 75c.; July, $1. In 1917. Jan., $2 25 (V. 104, p. 72). On
corn. partic. ctfs. $1 per sh. was paid s.-a. from June 1910 to & incl. July
1912. None since.
REPORT.-For calendar year (V. 104, P. 256):
IncomeBond
Bond Other Divs. on Surp.
Cal.
Other. Gross. Interest. Redemp. Ded. Part.Shs. Inc.
Divs.
Yr.
3
3
1916.1.971751 120,918 2,100,669 1,087,209 105,000 71,938 812,500 24122
1915.1,704,352 110,811 1,815,163 1,094,750 105.000 58,114 500,000 57,299
61,113 875,000 15,912
1914.1,964,771 87 255 2,052,026 1,100,000
Committee.-Chairman, Harrison B. Riley, S. M. Felton, James B. Forgan, John J. Mitchell, Samuel Insull, John A. Spoor, B. E. Sunny, E. K.
Boisot and L. A. Busby.
OFFICERS.-Sec.& Treas., W.W.Crawford.-V.101, p. 2143; V. 102,
p. 152, 344, 2341; V. 1t)3. p. 2341; V. 104. p. 72, 256.
(1) Chicago City Rallway.-An electric road.
Unified Operation of Surface Lines.-See "Chicago Surface Lines" for
details of unification ordinance under which the lines of this company
are operated jointly with those of the Chicago Railways Co. as a single system under the control of a joint Board of Operation. For plan to unite the
surface and elevated lines see "Chicago Elevated Rys.
ORGANIZATION.-Incorporated in Feb. 1859, and has extensive surface road privileges in the south division of Chicago. In June 1908 entered
into a contract with the Commonwealth-Edison Co., by which the Chicago
City Ry. agrees to buy all of its electric power from that company until
June 1918. The railway has abandoned its producing plants but retains
its distributing plants. V. 87. p. 1010.
New Ordinances and FranchiSes.-On Feb. 4 1907 the City Council passed
ordinances providing for a settlement of the franchise question. These
ordinances were approved at the city election on April 2 1907 and formally
accepted by the company's board of directors on April 15 1907. Suit to
1118. An exset aside franchise was dismissed in April 1912. V. 91,
p. Railway Co..
tended outline of these ordinances, one to the Chicago City
and covering the lines operated by that company, and the other to the Chicago Rys. Co.. and covering the lines of the former Chicago Union Traction
Co.(now the Chicago Railways Co.), was given in V.84, p. 1123. The value
of the tangible and intangible property of the Chicago City Ry. at date of
the ordinances was fixed at $21,000,000. The city or any company authorized by it Is given the right on Feb. 1 or Aug. 1 of any year, on six
months' notice, to purchase the entire property of the two systems, or either
of them, at their value at date of ordinance, plus "the cost of rehabilitation
and extensions, including fair allowances for construction profit and
brokerage". But if the properties are acquired for operation by a private corporation, for its own profit. the purchase price is to be increased
20%-barring the case of a private company which might be willing to
turn over to the city all profits above 5% on the cost of the investment.
The companies are limited during their operation to an interest return
of 5% upon the agreed value plus the cost of rehabilitation and extensions. All net profits above this are to be divided on the basis of 55‘7,,
to the city and 45% to the companies, but a deficit in any year is to be
made good out of the profits of subsequent years. After April 15 1910 the
companies are required to set aside 6% of the gross receipts for maintenance
and repairs and an additional 8% of the gross receipts to cover renewals
and depreciation. Whatever portion of the two funds is not used remains
in the funds and passes to the city or its licensee upon purchase. But If
the two funds are not sufficient for the purposes named, the companies
are obligated to supply additional funds. The franchises granted by the
ordinances run until Feb. 1 1927. Purchase price of the property Jan. 31
1917, $51,946,497.
On Jan. 29 1912 City Council passed an ordinance providing for the acquisition by Chicago City Ry. of city lines of the Chicago & Southern Trac.
Co. V. 94, p. 349, 629. The latter was sold at foreclosure in Feb. 1912.
The lines outside the city were taken over by the Chic. & Interurban Ry.
Decision as to Regulation.-Soe "Chicago Surface Lines."
STOCK AND BONDS- Date.
Interest. Outstanding. LastDiv..,tc.
($100)--- _Text Q-M30 $18,000,000 Mar'17,2%
Stock, $19,000,000
5 g F-A
let mtge ($1.0Q0) g.c*&r*tt1 1907
33,900,000 Feb 1 1927
1'First Trust & Say. Bk., Chicago,
Trustee.
Bonds.-Thero is no limit to the amount of bonds that may be issued
mortgage.
Under
above
the
under the
Chicago city ordinance, in case of
purchase by the city or its licensee, and Only in such case, the bonds may be
called as a while, for payment at par and int., on any int. date before maturity. V.84. p. 1488. 1550. Bonds are listed on Chicago Stock Exchange
(V.98. P• 386)•
DIVIDENDS.-In 1893, 24%; 1894-1900, 12%; in 1901. 105i %; in
1902-09.9%;in 1910. 16%;in 1911. 115i%; in 1912.
- 11%;in 1913, 105%.
in 1914, 9%; in 1915, 8%; in 1916, 9%%; in 1917, March, 2%.
ROAD. &c. (incl. Southern St. Ry.)•Company
owns 345.92 miles of
single track, all now operated by electricity. System covers the South Side
of Chicago, extending from the centre of the business district south to 79th
Branch
South
of
the Chicago River and the Lake.
Street and between the
REPORT.-For 12 months ending Jan. 31 1917 see V. 104, p. 1138.
The combined results of the "Chicago Surface Lines" under the Unificaeffect
tion Ordinance, which went into
Feb. 11914. were: Gross, $34,789.636; operating expenses, $21,743,523; residue receipts, $13,046,113.
Income Account Chicago City Railway,
1916-17.
1915-16.
1914-15.
Proportion of residue receipts
*55,218,445 *54.366,256 *54,951.477
Joint acc't exp. int. on cap. inv. and
South St. Ry. net earnings
3,616,023 3,500,467 3,612,889
Net earnings
$1,602,422
$865,789 $1,338,588
City's proportion (55%)
881,332
476,184
736,223
Company's proportion (45%)
721,090
389,605
602,365
capital_x
2,
Interest on
558.167 2,507,908 2,416,914
Income from operation
$3.279,257 $2,897,513 $3,019,279
Other income
88,244
81,582
279,548
$3
income
Net
,367,501 $2,979,095 $3,298,827
Interest on bonds
$1.617,791 $1,565,555 $1,529,410
(9%)1,665,000(8)1,440,000(9)1.620,000
Dividends
sur.$84,710 def.326,460sur.$149,417
Balance
* Representing 40% of residue receipts in 1916-17,against 41% in 1915-16
and 1914-15.
x The "interest on capital investment" is that certified by board of
supervising engineers, as provided by the ordinance of Feb. 11 1907.
OFFICERS.--Chairman Ex. Corn., and Pres., L. A. Busby; VicePres., H. B. Fleming; Sec. & Treas., F. D. Hoffmann; And., John
J. Duck.-V. 103, p. 2340; V. 104, p. 256, 1138.
(2) Calumet & South Chicago RY.-Electric.
Unified Operation of Surface Lines.-See "Chicago Surface Lines" for
details of Unification Ordinance of 1914. under which the lines of this company are operated jointly with those of the Chicago Railways Co. as a single system ynder the control of a joint board of operation.
ORGANIZATION.-Is a consolidation formed in 1908 of the Calumet
Electric Street Ry. and South Chicago City Ry. in accordance with the
terms of ordinance passed by the City Council Mar, 30 1908. Lines
are located in the south division of the City of Chicago. The ordinance
grants franchises until Feb. 1 1927 and provides that the city is to receive
55% of net receipts after allowing for operating expenses taxes and depredation and 5% on Present value, together with amounts expended for




25

Improvements and extensions. Unification ordinance of 1914 establishes
a 5-cent fare and universal transfers. City may purchase property on
Feb. 1 or Aug. 1 of any year upon six months' notice for present value.
which is fixed at $5,000,000, plus amounts expended for improvements,
additions and extensions, but only for municipal operation, where purchase
is made prior to Feb. 1 1927. With an addition of 20% in price, city may
also purchase for the purpose of turning property over to other parties (if
purchased for Chicago City Ry. only 12% additional need be paid), but
this additional sum need not be paid where these other parties agree to pay
over to the city all of the profits above 5% on the purchase price. V.86,
p. 1223. On Jan. 31 1917 certified value of property and additions thereto
was $10,573,623.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stocti. $10,000,000 ($100)First mortgage rehabilitation! 1908 5 g F-A $15
50
,000
00 Feb 1 1927
2.0
0:300
($1,000) gold, no s fcs&rtf lint. at First Tr.& Say. Bk., Chic.. Trustee.
Bonds.-The issue of 1st mtge. bonds is indeterminate, amount to be
limited to amount of new work done on property. They are subject to
call at any int. date before July 1 1912 at 105 and mt.; thereafter only in
case city shall purchase property at par and int. on any int. date. No s.fd.
EARNINGS.-For years ending Jan. 31:
Total
Other
Bond
Balance,
Divs.
Year ending *In(, on
Paid. Surplus.
Jan. 31- Capital. Income. Income, Interest.
5518,869 $25,864 3544,733 $266,250 $250,000 $28,483
1916-17
532,112
266.250
510,268 21,844
225.000 40.862
1915-16
* Representing company's proportion of 41% of Chicago Surface Lines'
residue receipts pursuant to unification ordinance effective Feb. 1 1914.
ROAD.-Owns and oper. 122.63 miles of track reaching South Chicago.
Pullman, West Pullman. Auburn Park, Burnside and Manhattan Beach.
Also extends from Jackson Park to 106th St. and the Indiana State line
along Lake shore and both sides of Calumet River. 70,75.83 and 85-1b.rails.
OFFICERS.-Pres.. L. A. Busby; V.-P., W.W.Crawford: Sec.& Treas..
F. D. Hoffman;Aud.,John J. Duck.-V.98,p. 1243,1603 V. 100.p. 1831.
(3) Southern Street Railway Co.-A trolley road.
Unified Operation of Surface Lines.-See "Chicago Surface Lines" for
details of Unification Ordinance of 1914, under which the lines of this company are operated jointly with those of the Chicago Railways Co. as a single system under the control of a joint board of operation.
ORGANIZATION.-Incorporated in Illinois as a reorganization of the
Chicago General Ry., which was bid in at foreclsoure sale on Sept. 30 1907
by the Southern Street Railway co
V.85, F. 863.
Stock outstanding (par $100) $2,400,000. Bonds issued under 1st mtge.
of 1909 were from time to time canceled and stock issued in exchange. No
bonds now out.
EARNINGS.-Included in statement of Chicago City Ry.
ROAD.-Included in Chicago City Ry.
OFFICE RS.-Pres .L. A.Busby; V.-P., W. W.Crawford; Sec.& Treas.
P. D. Hoffmann; And., Jno. J. Duck.-V.91. p. 1631. 1712.
(4) Hammond Whiting & East Chicago Railway Co.-A trolley road.
All securities are owned by the Chicago City & Connecting Rye.
ORGANIZATION.-Incorporated in Indiana in Jan. 1910 as successor
to Hammond Whiting & East Chicago Electric Ry. Franchise expires in
1954. Power is furnished by the Calumet & South Chicago Ry.
STOCKDate.
Interest. Outstanding. Maturity.
Stock 31,000,000(3100)
$1.000,000
First mtge, $5,000,000. goll
1,000,000 Feb 1 1936
1)1910 5 g F-A
c&r tf Int.at First Trust & Say. Bank,Chic..Trust.
($1,000)
Bonds.-Subject to call at 5 and Int. E. K. Boisot is also trustee.
ROAD.-Owns 30.64 miles of track, extending from State line between
Illinois and Indiana at 108th St., Chicago, to Whiting, East Chicago and
Hammond in Indiana, and ooerates in connection with Calumet & South
Chicago Ry. to 63d St. and Madison Ave., in Chicago. Standard gauge;
80-lb. T rail.
OFFICERS.-Pres..0. G. Talmadge; V.-P., Chas. L. Lawrence; Sec. &
Treas.. F. D. Hoffman; And., W. W. Hill.-V.79. p. 103.
CHICAGO & INTERURBAN TRACTION CO.
ORGANIZATION.-Incorp. in Illinois Feb. 14 1912 to take over the
property of the Chicago & Southern Trac. Co.(sold at foreclosure) outside
the city limits, the lines within the city having been acquired by Chic. City
Ry, V. 94, p. 697.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Stock, $1,000,000 ($100)$1,000.000
1,350,000 Jan 1 1932
First mtge, gold ($100, $500,f 1912 5 g J-J
c* tflInt. at First Tr. & Say. Bk.. Chic.. Trustee.
$1.000). no a f
Bonds.-The auth. amount of 1st M. bonds is not limited. Bonds are
subject to call in whole or In part, beginning with lowest number. at 102
on any interest day. There are also 5290.000 bonds in treasury.
EARNINGS.-Fo years ending Feb. 28 1917 and Feb. 29 1916:
Int.Taxes.
e0
Net.
Surplus.
Expenses.
YearGross.
$140,457
$87,633
$336,498
5196,041
$52.824
1916
135,221
161,126
87,253
47,968
1915
296,347
ROAD.-Consists of 50 miles of line between 119th St. and Vincennes
Road. Chicago, to Kankakee, Ill. Standard gauge. 70-1b. T rails.
OFFICERS.-Pres. & Mgr.. 0. 0. Talmadge: V.-P.. C. E. Cox;
Sec.& Treas., W.W.Crawford.-V.100. p. 1167; V.104. p. 1387.
CHICAGO NORTH SHORE & MILWAUKEE RR.ORGANIZATION.-Incorp. In Ill. in June 1916 and acquired the properties of the Chicago & Milwaukee Electric RR.,sold at foreclosure May 1
1916 (V. 102, p. 1718, 2077). V. 103, p. 664, 1687.
Franchises.-Owns right of way in Wisconsin as far as the city limits of
Milwaukee; franchise in Milwaukee expires Dec. 31 1934. Owns right of
way in Illinois outside of corporate limits and to a considerable extent within
corporate limits; the remainder is covered by municipal franchises, several
being perpetual.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
See text
Stock 3100,000
$4,060,000 July 1 1936
First M 310,000,000 g ($1,-j 1916 5 g J-J
000. $500 & $100)--.._cstflInterest payable in N. Y. or Chicago.
1916 5%
460,000 Aug. 1 1936
Gen'l M $1,500,000 gold
Equipment notes gold (514 1917 6 g J-J
170,000 See text
c*1Int. at Chicago Northern Tr. Co., Trustee.
000 and $500)
Stock.-The capital stock is in the nominal sum of $100,000, which has
been made the basis of the following participation certificates of no par
value: (a) 50,000 Illinois part. certfs., bearing $5 dividends a year, cumulative, if earned, after Jan. 1 1918, the div. on these certfs. having priority;
(b) 58,000 Wisconsin part. certfs., bearing $5 diva. a year, cumulative. if
earned, after Jan. 1 1918: (c) 62,040 common part. certfs., bearing such
dividends as may be earned and declared. The stock will be held by Geome
M. Reynolds, Samuel Insull and R. Floyd Clinch as voting trustees. For
basis of exchange of bonds of old co. for certificates. see V. 103, p. 664.
Bonds.-The 1st M. bonds are secured by a first lien on all the property
owned and by pledge as additional security of the entire capital stock of the
Chicago & Milwaukee Electric Ry. of Wisconsin, which owns the terminal facilities in Milwaukee. Additional bonds may be issued under
conservative restrictions as follows: (a) $440,000 in substitution for
$480,000 par value of General Mortgage bonds held in treasury; (b) $940,000 to reimburse the company at par for capital expenditures made
after July 1 1916:(c) remaining $5,000,000 at par for not exceeding 85% of
the cash cost of betterments. Sic. The mtge. provides for a maintenance,
replacement and deprec'n fund of 12% of annual gross income for first
5 years, 14% for second 5 years, 16% for third 5 years and 18% for the last
5 years, to be expended for maint., &c., or for retirement of 1st M. bonds.
The 1st M. bonds are callable as a whole or part on any int. date at 105 and
int. Continental & Commercial Trust & Savings Bank, Chicago. is trustee. V. 103, P. 1031. $240,000 Gen. M. bonds have been canceled and
$480,000 are in treasury. The equip. notes mature $8,500 s.-a. July 1 1917
to Jan. 1 1927; secured by 15 steel passenger cars costing $200,000. Red.
as a whole or in part at 100% and int. on any int. date on 30 days' notice.
Earnings.-For year ending Dec. 31 1916, gross, $1,157,191; net (after
taxes), $376,266; other inc. $16,789; net income available for int. charges,
' In 1915, gross. $911,669; net (after taxes).
depreciation, &c., $393.055.
$247,843; other inc., $39,664;,net income available for int charges, depreciation, &c., $287,507.
ROAD.&c.-Owns ana operates the electric railroad connecting Evanston, Ill., and Milwaukee, Wis., with a branch line extending from Lake
Bluff, Ill., to Area, Ill., embracing 84.54 miles of road and 167.60 miles
single track equivalent. The principal communities served are Evanston,
Winnetka, Glencoe, Highland Park, Lake Forest, North ChiWmette,
il
cago, Waukegan and Zion City, Ill., and Kenosha, Racine, South Milwau-

26

ELECTRIC RAILWAYS

kee and Milwaukee. Wis. 97 motor, combination, buffet, trailer, baggage
and express cars, and 127 freight cars. 9 service cars, 2 electric locomotives
and 1 work motor.
OFFICERS.-Chairman of the Board, Samuel Insult; Pres., Britton I.
Budd; V.-P., R. Floyd Clinch; Sec.-Treas., W. V. Griffin.-V.103, p. 66'4,
1031, 1687; V. 104, p. 361, 1044.
CHICAGO RAILWAYS CO.
Unified Operation of Surface Lines.-See "Chicago Surface Lines" for
details of Unification Ordinance of 1914, under which the lines of this
company are operated jointly with those of the Chicago City Ry. as a
single system under the control of a joint board of operation. As to Alan
for unification of surface and elevated lines, see "Chicago Elevated Rys.'
ORGANIZATION.-Incorp. In Illinois in Oct. 1903 and on Jan. 25 1908
acquired at foreclosure sale the property of the old Chicago Union Traction,
comprising the lines of the North and West Chicago Street RR. The purchase was made under a modified plan of reorganization and readjustment
dated Oct. 15 1907 and outlined in V. 85, p. 1269; see also p. 1576.
In Dec. 1912 purchased 6 miles of the Suburban RR.inside the city limits
(V. 95, p. 1402) and issued $22,554 bonds to cover cost.
Franchises.-On Feb.5 1907 the City Council passed ordinances providing
for a settlement of the relations between the city and the street railway
companies. V. 84, p. 338, 390. The franchises granted by the ordinances
expire Feb. 11 1927 and were approved at the popular election held April 2
1907. On Oct. 10 1910 supplemental ordinance was passed expiring Feb.
1927,covering lines of Chicago Consol. Trac. properties. V.91, p. 1025.
In the remarks concerning the Chicago City R' y.on a preceding page of this
publication will be found a brief summary of the main terms, requirements
and conditions of these ordinances. A very extended outline of the same
was printed in the "Chronicle" of May 11 1907, pages 1123, 1124 and 1125,
to which the reader is referred for detailed information.
The ordinance for the Chicago Rys. Co. provides that the valuation of the
properties acquired shall be deemed and considered to be $29,000,000 (the
value fixed by a board of expert engineers acting for the city) plus $1,779,875
for expenditures from the date of the valuation on June 30 1906 to Feb. 1
1907, making total valuation of properties as recognized by ordinance
830,779,875 as of Feb. 1 1907. With the expenditures already made, the
valuation of road, equipment and franchises on May 1 1917 was computed
at $87.581,775.
All expenditures for reconstruction and extensions are being made under
the direct supervision of a board of supervising engineers headed by Mr.
Bien J. Arnold, and the company is required, under conservative restrictions, to advance moneys for the construction of subways by the city.
The expenditures for reconstruction and extensions, including any contributions for subways, after Feb. 1 1907 are to be added to the value of the
properties recognized by the ordinance, together with 5% of such expenditures for brokerage. As compensation for its services in construction
the company will receive an additional 15% of all expenditures for reconstruction and extensions, exclusive of amounts contributed for subways.
The company agreed to lower and reconstruct the tunnels under the
Chicago River at Washington, La Salle and Van Buren streets.
Right to Purchase by City.-Under the terms of the franchise, the company
agreed to waive all rights under previous grants, and gave the city, an
option to purchase all of its property for municipal operation at any time
prior to the expiration of the 20-year franchise granted the company
by the ordinance. The price to be paid by the city to be $30,779,875,
the valuation of the properties February 1 1907, as above mentioned,
plus all expenditures after that date for reconstruction, extensions and additions to the properties, including any amounts advanced to the city for
the construction of subways in the downtown business district. In case
the property shall not be purchased, as above stated, prior to 1927,the
expiration of the franchise, the city covenants that it will not then grant
a franchise to any other corporation for the operation of a competing system
in the company's territory unless such other corporation shall purchase
the property of the company at said price. The city also has the option
of requiring the company to sell its property to any other licensee corporation of the city,or of purchasing the property itself for municipal ownership
(with no requirement as to municipal operation), at any time during the
life of the franchise; but in case of such purchase by the city or a licensee,
the price to be paid shall be 20% more than the price above mentioned'
but the licensee shall not be required to pay the additional 20% if it shall
agree to pay over to the city all profits in excess of 5% on the investment
In any event, (1) the purchase price must be paid in cash and the first
mortgage bends of the company will attach to such cash as a first lien in
the event of such purchase; or (2) such purchase (if made within said 20
years), must be consummated expressly subject to the lien of the 1st mtge.
bonds, but if made at the expiration of said 20 years, the amount thereof
must also be paid in cash.
Compensation to City.-Provision is made for special compensation
to the City of Chicago, but this compensation is payable only out of
the surplus earnings of the company after paying or providing for all operating expenses, including the charges for maintenance and depreciation
prescribed in the ordinance and 5% upon the valuation of the company's
property at which it may be purchased by the city for municipal operation.
as above stated. Of the surplus earnings so remaining. the City of Chicago
receives 55% and the company 45%. (See V. 99. p. 1831 for dispute with
city as to eertain accounts).
.
Control by Trustees.-The trust indenture securing the participation
certificates provides that until Aug. 1 1912 and to the full extent thereafter
Which may be permitted by law until all of the consolidated mortgage bonds
of the company shall be fully paid and discharged, the directors of the
company shall be elected by Messrs. Harrison B. Riley, William C. Niblack, Abel Davis, Frank G. Gardner and Henry J. Tansley, and provision
is made in the trust deed securing the 1st mtge. bonds for the appointment
of a permanent finance committee, composed of Messrs. Henry A. Blair,
Seymour Morris and B. A. Eckhart of Chicago.
Acquisition of Chicago Qmsoiwated Traction Properties.-On Dec. 27 1910
Judge Grosseup confirmed the sale of the Chic. Consol. Trac. Co. and its
eight underlying companies on Nov. 30 1910 to Andrew Cooke and the
sale by the latter of all properties within the city limits to the Chicago Railways Co. (V. 91, p. 945. 1253. 1511). pursuant to an ordinance passed
Oct. 10 1910 (placing valuation at $4,021,982). like in tenor, amendatory
and supplemental to ordinance of Feb. 11 1907 (V. 91, Jpo. 1025, 1159)
See reorganization plan, V.90. p. 1613; V.91, p. 37. The lines outside the
city were acquired by the County Traction Co. (now the Chicago & West
Towns By.), which has no connection with the Chicago Railways Co.
On Nov. 1 1910 a deposit agreement was entered Into by the holders of the
securities of the Chicago Consolidated Traction and its subsidiaries, providing for the exchange of the said securities for Chicago Rye. Co. Purchase
Money 4% to 5% bonds and Adjustment Income 4% bonds, both dated
Jan. 1 1911 and maturing Feb. 1 1927. For description of bonds and ternis
of exchange, see V. 91, P. 1384. and compare V. 90, P. 1613; V. 91, p. 214.
Favorable Decision.-In Oct. 1912 the U. S. Circuit Court of Appeals
affirmed the decision of Judge Kohisaat, dismissing the suit brought to have
the compromise franchise of 1907 annulled. V. 95. p. 1206.
Settlement of Yerkes Suit.-In April 1914 the company arranged a settlement of the suit brought by the Yerkes estate on the guaranty of the bonds
of the Chic. Consol. Tree. Co. by the Union Trac. Co. V. 98. p.1155.
Decision as to Regulation.-See "Chicago Surface Lines."
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
See text. See text.
Stock,$100,090
First mortgage (see text),
5 F-A
$55,681,000 Feb 1 1927
1 1907
($1,000) gold
c&r tf Int. at Harris Trust & Say. Bk., Chic., Trus.
or at Harris, Forbes & Co., New York.
Consol mtge, gold
5%
See text. Feb 1 1927
tf 1907
Bonds Covering City Lines of Former Chicago Consol. Traction.
Purch-money M $6,000,000 g 1910
5 J-J
4,073,000 Feb 1 1927
($500 and $1.000)___-c*tf Illinois Tr. & Say. Bank, Chic., Trustee.
Adjust Inc M $2,500.000 gold 1910
4 g May
2.500.000 Feb 1 1927
Central Trust Co. of Ill.. Chicago. Trustee
($100&8500)(non-cum)c*tf
Stock.-The capital stock of the company which is issued in the nominal
amount of $100.000, has been made the subject of a trust agreement, dated
Aug. 1 1907 and executed Jan. 25 1908, by and between the Chicago Railways Co. and Messrs. Adolphus 0. Bartlett, Chauncey Keep. Charles H.
Hulburd,Albert A. Sprague and Charles G.Dawes, as depositaries, and
Central Trust Co. of New York as custodian. Under this agreement
the stock serves as a basis for the issue of the participation certificates.
representing In all 265.100 equal parts. Series 1 consists of 30,800 parts,
Series 2 of 124,300 parts, Series 3 of 60,000 parts and Series 4 of 50,000 parts.
Series 1. 2 and 3 are entitled, in the order of priority named, to cumulative
dividends of $8 for each part, beginning with year ending Aug. 11908,and in
the distribution of capital to $100 for each said part. Series 4 is entitled
to any remaining profits or capital distributed. V 85, p':)1269.
Dividends on participation certificates Ser.2are limited to84 on each certificate so leng as more than 50% of Series 0 bonds remain outstanding,




[Vol, 104.

and thereafter to $5 per certificate until the remainder of Series C bonds
have been redeemed. Series 2, however, is entitled to unpaid accumulation
on account of its $8 per certificate (beginning with the year ending Aug. 1
1908), but only when earned, and after payment of all accumulations of
el king fund and of dividends on Series
ds.-First mtge. bonds are issued only to provide funds for rehabilitation, extensions, &c. They may be redeemed at par and accrued interest
on any interest day. The bonds have a first lien on the entire property,
rights and franchises of the company. The authorized issue is limited to
the aggregate of the amounts approved from time to time by the board of
supervising engineers. Of the bonds reported outstanding, $500,000 are
held by trustees as security against any judgment which possibly could be
recovered in various litigations going on. $1,774,000 are hold in treasury.
See full particulars of bonds, property, &c., in V. 86, p. 545; V. 88, p. 1436,
1619; V. 90, p. 302; V. 93, p. 162. Bonds are listed on the N. Y. Stock
Exchange. V. 103, p. 238.
The consolidated mortgage bonds consist of the following: Series A,
Issued, $17,403,200, of which $1,006,000 are in the treasury and can be
issued only for acquisition of additional property; Series B, $17,164,475, and Series 0,$1,144,336. Series C bonds have sinking fund of $250.000 per annum, if earned, which began Aug. 1 1908, but cumulative until
paid. $1,196,000 Series A bonds have been retired. See particulars.
V.86,p. 1223; V.93, p. 1724. Of the remaining Series B. bonds,$4,000 are
in treasury. $2,850.664 Series C bonds have been retired by sinking fund
and cancellation. Bonds of three series bore int. at 4% until Feb. 11912;
thereafter 590•
Purchase Money Mtge. bonds bore int. at 4% per ann. during first 5 yrs.,
now 5% per ann. They are red. at par and int, on any int. date.
Adjustment Income Mtge. bonds are red, at par and int. on any int.date.
Interest is payable only if earned and is not cumulative. Payments of
4% each were made on May 1 in 1913 to 1917 inclusive
Interest on both purchase-money mortgage and adjustment income
mortgages payable at company's office or at agency of company in Chicago.
DIVIDEND.-An initial dividend of 34 was paid Nov. 15 1908 on
Series 1 participation certificates. On Sept. 1 1909 $8 was paid on Series 1
certificates. None to Oct. 1912, when $6 was paid. In Fel% 1913. $6;
May.86; July,36; Aug..84. In 1914, Feb..84; Aug..$8. being full payment of all arrears. Feb. 1915 div. of $4 was paid June 5(V. 100, p. 1671).
The August 1915 div. of $4 was paid Sept. 1 1915. In 1916, August, 88.
In Feb. 1914 initial div.of$2 per sh. was paid on Series 2. In 1915,June,$2.
In Feb. 1917, $2.
ROAD.-Comprises 580.65 miles of track (including 128 milee of the
former Chicago Consolidated Traction Lines).
EQUIPMENT.-Operates 1,907 double-truck 'pay-as-you-enter" cars.
REPORT.-The annual report for year ending Jan. 31 1917 will be found
in V. 104, p. 1484. The combined results of the "Chicago Surface Lines"
for the year were: Gross, $34,789,636; operating expenses, $21,743,523.
residue receipts, 813,046,113.
Income Account for Years ending Jan. 31.
Share of *Adjust- Int., 5%, Balance, -Of which to
Res. Rects. ments.
on Inv. Divisible. City .55% . CO. 45%.
'16-'17_37,827,668 Dr.290,685 $4,319,783 $3,217,200 $1,769,460 $1,447,740
'15-'16_ 6,283,149 Dr. 20,327 4,230,975 2,031,847 1,117,516 014,331
'14-'15_ 7,125,296 Cr. 55,106 4,116,762 3,063,640 1.685,002 1,378,638,
* Applicable to previous years.
Income Statement (Non-Partnership Account) for Years ending Jan. 31.
1916.
1915.
1917.
$914,331 $1,378,638
$1,447,740
Chicago Railways, 45%
5% on investment
4,319,783
4,230,975
4,116,762
Miscellaneous interest
168,247
210,765
190,846
Gross income
$5,958,369 $5,313,553 $5,706,165
DeductTotal interest on bonds
$4,746,786 $4,625,950 84,599,122
Sinking fund reserve account
250,000
250,000
250,000
Federal income tax
123,446
Corporation expend. and adjustments.. 153,568
89,203
$717,161
$778,015
$330,573
Net for income, interest, &c
OFFICERS.-Chairman of Board of Directors and Pres., Henry A.Blair;
Vice-Presidents, Seymour Morris and J. E. Wilkie; Sec., F. L. Hupp;
Treas., M. B. Orde.-V. 104, p. 72, 163, 451, 1263, 1484, 1489, 1800.
CHICAGO Sc WEST TOWNS RAILWAY CO.
ORGANIZATION.-Incorp. in Illinois in 1913 as a consolidation of the
County Traction Co. and the Suburban RR.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,000,000
Common.$1,000 000 ($100)_
1,000,000
Prof (cum), $1,060,000 ($1.00?
6%
Bonds, $750,000, gold, red 1913 6 g
690,000
1918
c*tf Int. at Harris Tr.& 8,11k., Chicago.Trustee
at 101
after
gross,
$566,675;
net,
Dec.
31
1916,
-For
year
ending
EARNINGS.
taxes, $189,021. In 1915, gross, $505,061; net, after taxes, $159,581.
ROAD.-Owns and operates 72 miles of track, serving the suburbs west
of Chicago.
OFFICERS.-Pres., Willard M. McEwen; Sec. & Treas:. Charles N.
Hebner; Gen. Mgr., F. L. Butler. V. 97, p. 443,666.
EVANSTON RAILWAY CO.
ORGANIZATION.-Incorp. Sept. 20 1913 in Illinois to take over the
lines in Evanston, Ill.,formerly owned by the County Traction Co.(now the
Chicago & West Towns By.)
Franchise.-The company was granted a new 20-year fraaichLse.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date,
$500.000
.
Stock, $500,000 ($100)--1933
Fustniumbonds.gobl_,__Zir MI5
diiiv:/c
270.600
Redeem at 103 and int.__ fInt. at Merch. Loan & Ti'. Co..Chic., Trus.
General mortgage bonds
90,300
Bonds.-Sinking fund of 3% of outstanding bonds from 1917.
EARNINGS.-For years end. Dec. 31:
Gross Exp.Taxes, Net
Inter- Balance,
Year ending
est.
Dec. 31-Earnings. Depr.,&c. Earns.
Survlus.
*$165,278 $118,246 $47,032 $21,654 $25,378
1916
103,947
43,220
*147,167
21,654
21,566
1915
* After deducting $5,908 in 1916 and $5,106 in 1915 for compensation to
City of Evanston under franchise. No compensation is required during
period from July 1 1914 to June 30 1917, but these deductions were made
to Preserve comparison for future statements.
ROAD.-Length of single track,10.34 miles. 85-1b. rail. Gauge, 4 ft.
8% in.
OFFICERS.-Pres., Clement C. Smith, Milwaukee: Vice-Free., & Gen.
Mgr., Charles F. Speed. Evanston; Sec.. George Allison. Milwaukee:
Treas., J. J. Lewis, Evanston; Aud., Chas. O. Major, Milwaukee.
CHICAGO ELEVATED RA I LW A YS.-A voluntary association
similar to Massachusetts Electric Companies.
Unification of Surface and Elevated Lines and Construction of Subways&c.
-The Chicago Traction and Subway Commission, consisting of William
Barclay Parsons and Robert Ridgway of New York and Ilion J. Arnold
of Chicago, in Dec. 1916 reported a plan (V. 103, P. 2237, 2428), intended
to form the basis of an enabling ordinance, which provides:
(1) Unified operation under one management of all the city's local transportation facilities, under city control, but giving a Board of Regulation
and Control the broadest possible powers as to regulation of car service,
development, &c.
(2) An extensive construction program, involving the expenditure during the next 9 years of $98,273,000 (which will increase the rapid transit
facilities to 234 times the present "rush hour" schedule), and of a minimum
by 1950 of 8275,000,000.
(3) The city's present traction fund to be used for the construction of
subways, which shall be owned by the city from the start, and its share of
the future divisible net receipts to be applied in such a way as to facilitate
the acquisition of the properties by the city.
(4) Application of Income.-The city and the new corporation owning
and operating the consolidated cos. will each receive the current rate of
Interest upon the new capital furnished by them from time to time to develop the system, and the corporation will receive 6% upon the total valuation of the existing properties at the time of the consolidation. An amorti-

MAY, 1917.]

ELECTRIC RAILWAYS

zation fund to be established years after the beginning or unified operations, starting with % of 1% and increasing % of 1% every 5 years to 1%.
The residue to be divided 55% to the city and 45% to the company, the
co.'s share however, not to be less than 1% of gross income. (This plan,
the Commission stato, would make it possible for the city to own the entire
system, representing $490,000,000, in 1960.) Division of earnings between
the surface and elevated companies will be left to them so far as such adjustment does not interfere with the rights of the city.
(5) Existing transfer arrangements to be maintained. A charge of 2
cents would be made for transfers between surface and elevated linos, this
to be reduced and eliminated when the financial status of the corporation
will permit.
In connection with the plan, the Commission has placed a valuation of
$70,400,916 on the elevated lines (the company is asking $92,000,000 and the
city $58,000400), and the surface lines were valued as of June 30 1916, in
accordance with the 1907 ordinance, at $147,475,501, making roughly a
total valuation of $220.000,000. For further details see V. 103, p. 2237,
2428; V. 104, p. 559. The plan is now under consideration by the Committee on Local Transportation of the City Council. [On Apr. 19 1917 the
Ill. Supreme Court upheld the right of the State Pub. Utilities Comm. to
regulate street car service in Chicago regardless of the provisions of the contract ordinances of 1907 between the Chicago City Council and the surface
lines. As a result the plans for merging the surface and elevated lines and
securing a 50-year franchise in connection therewith must now be passed
upon by the State Board.]
At midnight Nov. 2 1913 began through-routing north and south elevated
trains, using the Loop or that purpose, and established free transfer stations between said trains and trains of Metropolitan and Oak Park cos.
As the project for uniting under one control the elevated railway and stir.
face roads of Chicago was not carried out by July 1 1914. the Commonwealth Edison Co. purchased from the syndicate which underwrote the
pref. shares approximately 200,000 shares of Chic. El. corn. stk. for about
$6,000,000 in accordance with the terms of an agreement said to have been
entered into in 1911.
ORGANIZATION.-Organized in 1911 to acquire stocks, bonds and
other securities of the Metropolitan West Side Elev. Ry., Northwestern
Elev. RR. and the South Side Elev. RR.($21,202.312 being offered for the
$36,294.900 stock of these companies-see offers in V. 92, p. 1498. All
the stocks have been turned in, a small remnant of Northwest L pref. being
bought in August 1913; V. 97. p. 728); also, if it so elects, the stocks of the
Union Consol. Elev. Ry., Chicago & Oak l'ark Elev. fly., Chicago & Oak
Park Elev. RR. and Chicago & Elmhurst By., which companies are controlled by the afore-mentioned companies. These roads operate about
189.54 miles of track. The physical properties were valued at about
$90.000,000, exclusive of franchise valuations, or $84,386,294, excluding
the Chic. & Oak l'ark El. 1111.; the mortgage debt preceding the $14.000,000
2-year 5% secured notes and $7,000,000 10-year 6% debentures aggregates
$40,470,000. leaving an equity of $43,916,294.
In July 1914 the National City Bank offered the $14,000,000 gold notes
(V. 98, P. 1992), the proceeds of which, together with the sale of $7,000,000
10-yr. 6% debentures and $12,500,000 bonds of the Northwestern Elev.
RR. were used to retire the $30,000,000 3-yr. notes which matured July 1
1914, and to provide working capital.
Decision.-On Apr. 24 1914 the Supremo Court affirmed the decision of
Judge Scanlon of the Circuit Court (V. 97, p. 1425) and dismissed the suit
of State Attorney Hoyne against the Met. West Side, South Side and Union
elevated railroad cos., alleging that they violated their State charter by issuing watered stock.
Interest. Outstanding, Maturity.
STOCK AND' BONDS- Date,
250,000 sirs.
Common,250,000 shares.
160,000 sirs. See text.
Q-M
Prof. 160,000 shares,6'7 cum_ ____
$14,000,000 July 1 1919
2-yr gold notes (closed ssue) 1 1914 6 g J-J
($1.000), $14.000,000c* Illinois Trust & Say. Bank, Chic., trustee.
7,000,000 July 1 1924
6 g J-J
Debentures $7,000,000 ($lOOj 1914
c*tf Int. at National City Bank, New York.
and $1.000)
5 g FA
1.948,000 See text.
Equip tr certfs gold Ser "A"j 1914
550,000 See text.
Ser "WI - - -do
do
guaranteed by endorsem't_ Commercial Tr. Co. of Phila., Trustee.
Stock.-Corn. and pref. shares expressed at par value of $100 each. The
pref. stock is redeemable at $100 and accrued dividends.
Notes.-Pending the formation of a concrete plan for the unification of
surface and elevated lines and appropriate municipal action in the matter,
the $14,000,000 5% notes due July 1
the holders of a largo percentage of
1916 consented to extending same to July 1 1919 at 6% int., with a cash
of
respect
each
$1,000
of extended notes. In addition,
in
$15
payment of
the value of the security for the notes was materially increased and an agreement made with the Commonwealth Edison Co. whereby all claims for
power supplied to the railroad cos. after June 30 1916 and until maturity of
the extended notes will be assigned to a trustee and will be paid only if and
as other floating debt ofsubsidiary cos.(except capital debt)[snot increased.
In case other collateral securities pledged for the extended notes shall upon
sale prove insufficient to pay such extended notes in full, the said power
claims then unpaid will be placed on a parity with the extended notes. V.
102, p. 2341; V. 103, P. 578. The notes are now secured by pledge of substantially all of the stock of the Northwestern Elev. fly., the Met. West
Side Elev. By. and the South Side Elev. RR., having a total par value of
$36,291,000, and notes and claims against these cos. aggregating approximately $2,070,000. Red, at par and int. on any int. date on 30 days' notice. Int. payable in N. Y. or Chicago. Int. at rate of 5% was paid on
unextendod notes for the 6 mos. ending Dec. 31 1916.
Deb. notes are red., all or any part, when drawn by lot at par & int. on any
int. date up to and incl. July 11010, after that at 102% on 4 week's notice.
V. 99, p. 195. The equip. trust as above is joint obligation of the Metrop.,
Northwestern and South Side Elev. cos. and not of the Chicago Elevated
Rys. The Series "A" certificates are due in semi-annual Installments from
Feb. 1 1917 to Aug. 11926. $102,000 each Feb. 1 and $103.000 each Aug. 1
They are guar. by end. on each certif. by the Met. Wist Side Move., Northwestern Elev. and the South Side Elev. V. 100, p. 53. $102,000 retired.
Series "B" mature $110,000 semi-annually from Feb. 1 1927 to Feb. 11920.
Dividends.-On pref., initial div.-lyi%-paid Dec. 1 1911. In 1912
and 1913,6%. In 1914, March, 1 .y6% June, 11.4%. Noire since.
REPORT.-For year ending June 30 1916, in V. 103, p. 2153.
Combined Earnings (Inter-Company Rentals Deducted).
Net
Gross
June 30
Balance,
DiaInterest,
Other
Income. Earnings. Income. Taxes, &c.
Yeardends.
Surplus.
1915-16-38,435,008 $4,099,947 $135,693 $2,969,522 $1,135,543 $130,575
1914-15_ 8.045,264 4,174,958 117,905 2,888,652 1,105,373 298,837
1913-14- 8,182,861 (Form of statement changed) 1,164,378
13,229
Income Account of Chicago Elevated Rys. Collateral Trust,
IncomeBal.,
Cal.
Interest & Preferred
Gross
Year. Dividends. Interest.
Expenses. Dividends. Surp.
Income.
$
1915 _$1,027,045 $125,585 $1,152,630 $1,146,213
718,251
7
18
4:649
1914 __ 1,109,798
1,343,351 $480,000 6
1,828,049
OFFICERS.-Pres. of constituent cos.. Britton I. Budd; Sec., W. V.
Griffin; comp.,Edward A. Brion,
TRUSTEES.-William G. Beale, Samuel Insull and Sam'l McRoberts.
EXECUTIVE COMMITTEE.-Samuel Instill, W. A. Fox and J. II.
Gulick.
GOVERNING COMMITTEE.-Samuel Insull, Gilbert E. Porter, . .
Budd, J. H. Gulick and W. A. Fox.-V. 103, p. 320, 578, 2153, 2155
(1) Metropolitan West Side Elev. Ry.-An electric road.
. Organized in Illinois Jan. 16 1899. Successor on
ORGANIZATION.
Feb. 3 1899 (per plan in V. 67, P• 126) to the Railroad Co. sold under fore1899.
Franchise expires April 7 1942.
4
Jan.
closure on
Interest. Outstand'g. Maturity,&c
STOCK AND BONDS-- Dale.
$7,462,800 See text.
Common, $7,500.00
8,707,500 See text.
Pref,5% non-c, $9,000,000___
4 g F-A
10,000,000 Aug 1 1938
First mortgage, 310,000.000 1898
c*tt Cent. Trust Co., N.Y.,and G.Sherman,Tr.
($1,000), gold
Int. at Cent. Trust Co., N. Y. and Chicago.
Ext mortgage, $5,000,000 1901
4 g J-J
a5,000,000 July 1 1938
($1,000), gold, red at 105 Northern Trust Co., Chicago, Trustee.
Ofl an7 interest day on 4 Interest at company's office in Chicago, or
c*tt
weeks notice
Central Trust Co., New York.
Equipment trust certificates-See under Chicago Elevated Railways.
a $567.000 included in this amount Is held by Chic. Elev. Rys. coll. trust.
The extension mortgage of 1901 covers the extension as a first lien,
also 68 cars, a 3,500 h. p. engine and the new down-town terminal; the
bonds also cover the rest of the property as a second lien, subject to the
$10,000.000 first mtge. V. 72, p. 1080; V. 75, p. 29; V. 86. 1)• 1160.
Has guaranteed $498.000 bonds of Union Consolidated Elevated.




27

LATEST EARNING S.-See joint statement under Chic. Elev. Rys.
No separate reports now made for the subsidiary companies.
DIVIDENDS.-For dividend record see "Electric Railway" Section for
May 1916. Dividends not now reported as all the stock is owned by
Chicago Elevated Rys.
ROAD.-From terminal station at 5th Ave. westerly abcut 63.4 miles.
with branches; total length of road (including Douglas Park branch and
extension and Garfield Park branch). 23.65 miles. Miles of single track,
owned, 45.29; under contract, 6.53; total operated, 51.82 miles of track,
exclusive of 7.77 miles of side tracks. Standard gauge. Right of way is
owned in fee. 286 motor cars, 284 coaches and 15 miscellaneous.
On March 11 1905 the cars of the Aurora Elgin & Chicago By. began
operating over this company's lines to the 5th Ave. terminal under a traffic
agreement, the Met. West Side, in turn, securing the right to the territory
west of the 52d Ave. terminal on the Garfield Park line as far as the Des
Plaines River, about 3.3 miles of double track. V. 79, P. 1704•
OFFICERS.-Chairman of Board, Samuel Insull; Pres., B. I. Budd.
Sec. & Treas., W. V. Griffin; Aud., T. B. McRae; Gen. Mgr.. E. C. Noe.
Office, 72 West Adams St., Chicago.-V.92, p. 456, 1436; V. 93, p. 469.
(2) Northwestern Elevated RR.
ORGANIZATION.-Incorp. in Illinois. Road was formally opened
for business on May 311900. V. 70, p. 1049. Franchises extend beyond
the maturity of the bonds.
In Sept. 1901 the Union Elevated RR. was acquired. The Chicago Elevated Rye. provided the cash to take up the $18,000.000 Northwestern
Elevated 1st 4s which matured Sept. 1 1911.
On Aug. 21 1911 stockholders authorized $25,000,000 1st M. 5s (V. 93.
p. 527). None of these bonds sold at the time, but in July 1914 $12,500,000 were sold (V. 98, p. 1920) to a syndicate of bankers and subsequently
disposed of by them.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity •
Common stock, $5,000,000 $4.946.400
See text.
M-8
4,944,400
Pref stk,5% n-c. $15.000,000_ ____
5 g M-S
1st M $25,000,000 red as al 1911
12,500.000 Sept. 1 1941
whole at 102 & int on 30(111. Tr. & Say. Bk., trustee, under mtge.
days' notice ($1.000)_c*tt(Central Tr. Co.. N. Y.,trustee und. sup. M.
32.000 See text.
tt
6%
Equipment notes
Equipment trust certificates of 1914-See under Chicago Elevated Railways
The 1st M. bonds are an absolute first lien, subj. only to the Union Elev.
RR. 1st M. 5s; also secured by deposit of $528,000 Union El. 5s. The remaining 812,500,000 Northwestern bds. may be issued only for cash cost of
betterments, extensions and add'ns acquired after July 1 1914 under certain
conditions. Sinking fund of 1% outstanding bonds payable annually
beginning Sept. 1 1919.
Notes -Equipment note; payable in installments of $16,000 Nov. 1 each
YePr from 1917 to 1918. Amount was originally $160 000. but $128,000 paid
LATEST EARNINGS.-See joint statement under Chicago Elev. Rye.
No separate reports now made for the subsidiary companies.
Dividends.-An initial div. of 1% was paid on pref. Oct. 18 1909 and 17
quar. to April 1911; none thereafter to March 1912, when 2% wa.s
Divs. not now reported, as entire stock is owned by Chicago Electric Rys.
ROAD.-Miles of single track: Owned, 40.64 m.; operated under con
tract, 16.64 m.; total, 57.28 m.(of which 7.62 m.side track). Right of way
is all owned in fee except at street crossings.
Under an operating agreement with the Chicago Milwaukee Sr St. Paul
Railway Co. made In 1907, this company's service was extended May 16
1908 to Evanston over the Evanston Division of the former road. Service on new track elevation to eliminate grade crossings was commenced
Jan. 6 1916 on this division. Extension to Wilmette opened April 1912.
All track oper. (incl. loop). 61.28 miles. 80-1b. T. rails. 230 motor cars.
202 coaches and 4 miscellaneous cars.
OFFICERS.-Same as for Metropolitan West Side Elev. Ry.-V. 98.
P. 1920; V. 99 p. 1131; V. 100 p. 230,399, 1079, 1350.
(a) Union Elevated Railroad.
Is used by all the Chicago elevated roads and is owned by Nortnwestern
Elevated RR.; receives %c.for each passenger carried, besides all expenses
for operating, repairs and taxes. Franchise expires in 1945.
Interest. Outstanding. Maturity.
Date.
BONDS$4,472,000 Oct 1 1945
5 g A-0
IstM.$5,000,000,g(t1,000)cpt 1895
Interest at Chase Nat, Bank, N. Y.,and Ill. Trust & Say. Bank,Chicago.
Bonds.-Of the $5,000,000 bonds issued, $528.000 are deposited as seentity for the $12.500.000 Northwestern Elev. 5s.
ROAD.-The loop is 2.02 miles in length, double-tracked (80-lb. rails).
and runs on Lake St. to Wabash Ave., to Van Buren St., to Fifth Ave., to
Lake St. Road opened Oct. 10 1897. Trains of the Chicago & Oak Park,
Metropolitan West Side, Northwestern Elevated RR. and South Side
operate over the loop. Northwestern Elev. also owns .15 mile of double
track from connection with loop at Van Buren & State streets to connection
with South Side El. RR.. which is leased to the latter. V. 97. p. 522.
(3) South Side Elev, RR.-("Alley Elevated").-An electric elevated
road.
ORGANIZATION.-Successor January 1897 to Chicago & South Side
R.T. RR.(foreclosed per plan V.63, p. 1158). July 31 1900 the Appellate
Court sustained the validity of the foreclosure (V. 71, p. 236), and on Feb.
21 1902 that decision was concurred in by the State Supreme Court. V. 74.
477. Franchise expires March 26 1938. Leases the Chicago Junction
which see below.
p.
RR.,
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Q-M
_
$10,231,400
Stock, $10,231.400-8,000.000 July 1 1924
434 g J-J
First mortgage, $8,000.-000-,1 1904
c*tt(Int. at Ill. Tr. & Say. Bank, Chic., Trustee.
gold ($1,000)
Equipment trust certfs.-See tinder Chicago Elevated Rys.
Bonds.-Are subject to call at 105 and interest.
Dividends.-See "Electric Railway" Section for May 1916. Dividends
not now made public, as entire stock is owned by Chicago Elevateu Rys.
REPORT.-See joint statement under Chicago Elev. Rys. No separate
reports now made for subsidiary cos.
ROAD.-Owns elevated road in operation in Chicago upon a purchased
right-of-way from Congress St. to Jackson Park and to Englewood. Electricity was introduced as motive power late in April 1898. Operates 430
motor cars, 52 coaches and 14 misc. cars. On 16.24 miles of structure has
a total of 36.50 miles of single track main lino incl. 6.22 m. leased. Also
has 9.66 miles of side-track, making total track 46.16 miles.
OFFICERS.-Same as for Metrop. West Side Elev. By.-T.93. p. 528.
(a) Chicago Junction RR.
ORGANIZATION.-Organized in the interest of the South Side Elevated
RR. to build lines to connect that company's track with the Stock Yards.
Only a nominal amount of stock has been issued ($50,000), which is held in
trust for the South Side Elevated in case that company should at any tinna
wish to absorb it. Is leased to the South Side Elevated for 50 years (with
right to purchase at cost within 20 years), rental being interest on bonds,
taxes, &c. Franchises are without limit.
Date, Interest. Outstanding. Maturity.
STOCK AND BONDSSee text.
Stock
$2,327,000 Mch. 1 1945
1st mtge. $2,327,000, gold( 1905 4 g M-S
($1,000), guar p & 1____c*(First Trust & Say. Bank, Chicago, Trustee.
Bonds.-Are subject to call at 105 and int. in event or consolidation with
South Side Elev., this issue of bonds Is to be retired. V.80, p. 871. Bonds
are guar.. p.& I.. by Chic. June. Rs's. & Un.Stk. Yds. Co. See V.82, p. 568.
ROAD.-Consists of an elevated road (from junction with South Side
"L" at 40th Street) to the Stock Yards, and a loop around the same, 3.75
miles. Was completed in May 1908.
OFFICERS.-Pros., A. E. Rawson; V.-P. H. E. Poronto; Sec., Thornhill Broome; Treas. & Asst. Sec., J. W. Austin; Asst. Treas., F. D. O'Connor; Aud., C. C. Chace.-V.87, p. 346.
CHICAGO & OAK PARK ELEVATED RR.
Receivership.-On Nov. 13 1911 Judge Kohisaat appointed Samuel
[mull receiver for the Railroad. V. 93, p. 1386. On Dec. 29 1911 receiver was authorized to issue $2,000,000 receiver's certificates for improvements. V. 93, p. 1785. In Jan, 1912 Francis V. Dobbins of Rahway.
N. J., was appointed receiver for the Railway Co. V. 94. p. 123.
Foreclosure.-Judge Kohlsaat in the U. S. District Court at Chicago, on
July 17 1913, ordered the foreclosure sale of the railroad. The amount
found to be due was 35.080.984. Up to May 15 1917 road had not been sold.
Sale of Securities.-On June 20 1912 Geo. II. Church bid in for $256.000
the following securities formerly owned by the Chic. & Oak Park Elev. Ry.:
$859,000 Lake St. Elev. RR. 5% inc. bonds; demand notes of Chic. &

28

ELECTRIC RAILWAYS

Oak Park Elev. RR. variously dated from April 23 1904 to June 15 1910,
aggregating $1,989,528; $5.850 Lake St. Elev. RR. inc. bonds scrip. At
Sheriff's sale in New York on Jan. 26 1912, Mr. Church bid in for 52.000
all title of the Ry.Co.In the foregoing bond and notes, also some $473,000
additional notes of the Railroad Co., and in certificates for 91,651 17-40shares of Chic. & Oak Park Elev. RR. V. 94, p. 1763.
The Chic. & Oak Park Elev. Ry. was incorp. In New Jersey on April 22
1904 to hold the securities of the Chicago & Oak Park Elevated Railroad
Co., formerly the old Lake Street Elevated RR., reorganized per plan in
V.77, p. 1874; V.78, p. 1392. Northwestern Elevated owns 51% of stock.
Franchise expires in 1930.
STOOK AND BONDSDate. Interest. Outstanding. Maturity.
Stock
$10,000,000
Lake St El 1st M,$5.000,000,1 1893 5 J-J
4,432,000 July 1 1928
guar by N W El
tf American Trust Sc Say. Bank, Chicago. and
Central Trust of Illinois, Chic., Trustees.
Income mtge, $1,000,000_ _ 5%
128,600
Equipment notes
189,000
Real estate mtges
6,862
Receiver's certfs, $2.000.000_
878,000
Bonds.-First mortgage bonds assenting to reorganization were stamped
subject to call at 105 and int. on any interest date. The old income bonds,
with the exception of $128,600,are held in treasury of the railway company.
ROAD.-Owns a double track elevated railway from Fifth Avenue and
Lake Street to 52d St. and Lake St., with spur down Market St. to Madison
St. Trains began running around the loop in Oct. 1897. Chicago &
Harlem forms an extension comprising 4 miles more of double track. Total
single track, 22. 51 miles. 186 passenger cars.
REPORT.-For years ending June 30 for Railroad Co.
YearGross.
Net.
Other Inc. Charges.
Deficit.
1915-16
$873,267 $222,310
$4.198 $449,967 $223,459
1914-15
843,682
240,288
4,362
433,845
189,195
1913-14
878,805
249,224
3.714
430,749
177,811
1912-13
862.737
229,328
4,313
399,956
166,315
1911-12
875.421
264,347
3,515
444,555
176,693
RECEIVER.-Samuel Insull.-V. 97, p. 175; V. 99,P. 969. 1213.
--UNION CONSOLIDATED ELEVATED RY.
ORGANIZATION.-Formed in 1896 and built from Union Elevated at
5th Ave. west to Market St.; thence to Metropolitan W. S.
total,
1-5 mile of track; is operated by the Metropolitan 'West Side El. El.•.
Franchise
expires Oct. 7 1945.
On July 7 1914 Judge Windes in the Circuit Court held that State Attorney FIoyne should be prevented from proceeding against the company on
the ground of overcapitalization. See item under caption of "Chicago
Elevated Rys." in V. 97, p. 1425, and also see V. 99. p. 199.
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
Stock
$1,000,000
Series "A" 1st mtge, gold,t 1896 5 g M-N
453,000 Nov 1 1936
gu p &I by Met W S El_ cotf G.Sherman, V.-P.Cen.Tr. Co., N.Y..Trust
Mortgage $1,000,000, of which $500,000 series "A." V. 63, p. 1065.
Of the $500,000 Series "A" bonds. $453,000 are outstanding (of which $46.000 held by Chicago Rys. Coll. Trust); $45.000 are in treasury and $2,000
unissued.
OFFIOERS.-Pres., Samuel Instill; V.-P., Gilbert E. Porter; Sec. and
Treas., W. V. Griffin.-V.99, p. 199.

CINCINNATI, OHIO.
CINCINNATI & COLUMBUS TRACTION CO.-A trolley road.
Reccirership.-The Union Say. Bank & Trust Co. or Cincinnati, trustee
of both mortgages, was on April 12 1913 appointed receiver ofcompany,
floods and inability to meet maturing bond issues being assigned as the
cause. V. 96, p. 1156. Interest on both mortgages is in default. On
Dec. 19 1916 Master Commissioner Richard 0.Swing offered the company's
assets for sale, but received no bids. The property is appraised at $850,000.
Mr.Swing was quoted on Dec. 20 as saying: "While the stockholders'committee is anxious to take over the properties and willing to bid them in, it
will not do so if the [City's Rapid Transit]loop is to be leased to the Cincinnati Traction Co., without some strong contract whereby interurbans can
get into the city." See Cincinnati Traction Co. below.
ORGANIZATION.-Incorp. Jan. 211903, Franchises expire in 1930.
For decision of U.S. Supreme Court handed down on Nov. 111912, holding that the B. & 0. Southwestern and the Norfolk & Western (steam)
roads cannot be compelled to grant physical connection with the company,
see V. 95, p. 1402.
STOCK AND BONDS- Date.
Interest. Outstanding, Maturity.
Common,$1,250.000 ($100)$979,500
Pt 5% cum 51.250.000 ($100)
925,500
First mortgage, $600,000, f 1905
600,000 July 11913
5 g J-J
gold
c*1Int. at Union Say.Bk.& Tr. Co., Cin.,Trust.
Second mtge notes. $250.000J ___5%
148,000 Jan 1 1914
lInt. at Union Say.Bk.& Tr. Co.. Cincinnati.
Bonds.-The denominations of the first mortgage bonds are.respectively,
6 350,000; 30 $5,000; 100 $1,000; and 100 $500. They can be called at
any time at par. Bonds originally matured July 1 1909 but were extended
for 2% years. V. 89, p. 102. 720. On Jan, 1 1912 they were again extended 18 months. Second mtge. notes fell due July 1 1912 but were
extended for 18 months to Jan. 11914.
EARNINGS.-For 12 mos. ending Dec. 31 1916, gross, $146,760; net,
$41,307. In 1915, gross, $132,356; net, $39,958.
ROAD.-Operates 54 miles of track between Cincinnati and Hillsboro,
put in complete operation in Feb. 1906. Standard gauge. 704b. T rail.
OFFICERS.-Pres.. FT, H. Hoffman; V.-P., H. E. Frost; And., C. J.
Goldberg.-V. 95, p. 1402; V. 96, p. 1156; V. 103, p. 665, 1980; V. 104,
P. 72.
CINCINNATI GEORGETOWN & PORTSMOUTH RR.
ORGANIZATION.-Formerly a narrow-gauge steam road, but now
operated by both electricity and steam. Under Ohio law remains a steam
road. Franchises perpetual. In Sept. 1911 entered into a management
agreement with the Felicity & Bethel RR. and the Ohio River & Columbus
RR.(a steam road). V. 93. p. 796. On Jan. 1 1914. however, management changed and the Ohio River & Columbus was again divorced from the
other two roads. Has contracts to supply electric current for municipal
distributing systems of Georgetown and Bethel, Ohio.
Fare Decision.-On Feb. 17 1914 the Ohio Supreme Court sustained the
right of this company and the Interurban By. & Terminal Co. to charge
10 cents from Cincinnati to California (Ohio) and Coney Island (Ohio),
both now forming part of Cincinnati. V.98. p. 610.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $1,500,000
$1,500,000
1st mtge, $1,000,000. gold 1902
1,000,000 Jan 1 1932
5 g J-J
c* Int.at Union Say. Bk.&Tr..0in..Tr.,ScinN.Y
($1,000)
Fel & Beth 1st M $100,000, g 1905
5 g A-0
100,000 Oct 1 1935
(31,000), not callable_ _0 Int. at Union Say. Bk.& Tr., Cin., Trustee.
ROAD.-Operates 53.7 ml es from Cincinnati southeasterly to Russelvine, including branches of 3.5 m. to Batavia and 1.5 m. to Coney Island,
The Felicity & Bethel has 8.5 m. of track between the points named in its
title.
OFFICERS.-Pres., SG Treas.. Henry A. Haigh; V.-Pres., W. J. Thomson; Sec.. A. L.0. Henry; Gen. Mgr., A. H. Elfner.-V. 98, p. 610.
CINCINNATI LAWRENCEBURG & AURORA ELECTRIC STREET

RR.-A trolley road.

Receivership.-On June 23 1913 Judge Warner at Cincinnati appointed
F. B. Shuttr of Florida receiver on application of Pres. J. 0. Hooven,who.
it is stated, loaned the company $125,000. On Dec. 28 1914 C. E. Hooven
was appointed receiver upon the resignation of F. B. Shutts. The company
suffered damage from the 1913 flood. V. 96, p. 1839.
ORGANIZATION.-Incorporated in Nov. 1898. Franchises expire in
1924 and 1925.
The West End Rapid Transit Co. was incorp. on Sept. 3 1915 in the
interest of the company to give it an entrance into Cincinnati by building
a line from Anderson's Ferry to the intersection of Third and Race streets
in the city. A franchise, unlimited in time, was granted the company
on April 18 1916.
STOCK AND BONDS- Date.
Interest, Outstanding. Maturity.
Common.$750,000
$750.000
Pref.6% cum,3250.000 ______
58,900
First mortgage. $750,000_._.f 1899
5 g J-J
750,000 July 1 1919
lInterest at On. Say. Bk.& Tr. Co.. Ctn., Tr
($1 ,000). gold
STOCK.-Pref. stock was issued for money assessed on capital stock.
No interest has been paid.




[VOL. 104.

EARNINGS.-For years ending June 30:
YearGross.
Net, Fixed Charges. Balance.
1915-16
$123,488
$39,359
$43,885
def.$4,526
1914-15
125.776
43,874
47,087
sur.3,263
ROAD.-Operates 37.89 miles of track from Anderson's Ferry, at Cincinnati, to Aurora, Harrison and Lawrenceburg.
OFFICERS.-Rec., C. E. Hooven.-V. 78, p. 2011, 2383; V.96.p.1839.
CINCINNATI MILFORD Sr LOVELAND TRACTION CO.
ORGANIZATION.-Incorporated in Ohio in Sept. 1902 and purchased
franchises and rights of the Cincinnat Milford & Eastern Traction Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common,$1,000,000 ($100)$1,000,000
Pref,5650,000,5% cum
649,425 No div. yet.
First mortgage, $500,000, gf 1905
441,000 July 1 1925
5 g J-J
c*lInt. at Prov. Say. Bk.& Tr. Co., Cin.,Trust.
($500)
Bonds.-Are subject to call at any time at 110. See V. 81, p. 264.
EARNINGS.-For year ending Dec. 311016. gross, 888,568; net, after
taxes, $7,741. In 1915, gross, $90,351; net, after taxes, $4,646.
ROAD.-Operates 37 miles of track from Cincinnati to Blanchester.
Gauga, 5 ft. 2 in.; 70-1b. rails. Enters Cincinnati over the tracks of the
Cincinnati Traction Co.
OFFICERS.-Pres. & Gen. Mgr., Chas. 0. Harris; And. & Put. Agt..
R. G. Ware.-V.81, p. 264; V. 100, p. 53.
INTERURBAN RY. S: TERMINAL CO.-A tralley road.
Receivership.-On Oct. 1 1914, on application of the Westinghouse Elec.
& Mfg. Co., a creditor for $2,500. Charles S. Thrasher of Cleveland and
Charles M. Leslie of Cincinnati were appointed receivers. The Westinghouse Co. charged that the company had defaulted in the payment of interest on its bonds and is insolvent. The company joined in the application. See V. 99, p. 969, and 1052.
ORGANIZATION.-Incorporated in Ohio on Nov. 3 1902 and is a consolidation of the Cincinnati & Eastern Electric Ry., the Rapid Railway Co.
and the Suburban 'Fraction Co. In July 1907 obtained authority to issue
$1,000,000 pref. stock, of which $900,000 was in exchange for an equal
amount of 1st mtge. bonds dated 1903. V. 85, P. 221. 469. The 1903
bond issue was canceled. In 1908 a new mortgage made, as below.
Rate Decision.-On Nov. 19 1915 the Ohio Supreme Court affirmed the
the decision of the Circuit Court of Hamilton County holding that the company is obliged to carry passengers for a 5-cent fare between Pleasant Ridge
and Kennedy Heights and the business section of the city.
STOCK AND BONDS- Date.
Interest. Outstanding. Ma'urity.
Common.52,500.000 ($100)$2.500,000
Pref $1,000,000 ($100) 5%
1,000.000
First mortgage. $1,650,000,f 1908
5 J-J
See text.
1928
gold
tflInt. at Citizens' Say. & Tr. Co., Clev., Trus.
Bands.-Only $122,500 of bonds were actually issued, the remainder
being used as collateral for loans, but on Feb. 7 1916 the Citizens'
Says. & Trust Co., Cleveland, as trustee, sold at foreclosure $1,324,000
of the bonds used as collateral to the holder of a 6% promissory note for
$1,300,000, dated Juno 12 1912.
Earnings.-For the year ending Sept. 30 1916;; gross, $291,028; net,
(after taxes), $31,611; 1915; gross, $256,799; not, after taxes, $756.
ROAD.-Extends from Cincinnati to New Richmond, 22 miles; from
Cincinnati to Bethel, 33 miles (including 9 miles jointly operated with New
Richmond line), and from Cincinnati to Lebanon,33 miles. Owned trackage, incl. second, main, sidings, &c., 77 miles. Operated trackage, incl.
traffic arrangement in Cincinnati, 89 miles. Gauge, 5 ft. 2 in. Cars
enter Cincinnati over the tracks of the Cincinnati Traction Co. 70-1b.
and 97-lb. T rail.
OFFICERS.-Pres., Geo. H. Worthington; V.-P., J. M. Hutton; Sec.
and Treas., M. Ackermann.-V. 100, p. 140; V. 102, p. 522.
__OHIO TRACTION CO.
ORGANIZATION.-Incorporated in Ohio on May 22 1905 and owns
practically the entire capital stock of the Cincinnati Trac. Co., the Cincinnati Zoological Co. and Cincinnati Car Co., besides an interest in the
corn. and pref. stock of the Cincinnati Dayton & Toledo Trac. Co. On July 6
1905 lease of the Ctn. & Hamilton Trac. Co. was assigned to this company
by the Cin. Interurban Co. and the latter company placed in liquidation.
This company also acquired the property of the Traction Building Co..
which went into liquidation.
Favorable Tax Decision.-On May 18 1915 the Ohio Supreme Court, reversing the decision of the Franklin County Circuit Court, held that the
company is not liable for an excise tax on earnings derived from securities
of subsidiary cos., said tax applying only to earnings of railways from actual
operations. The company is, however, held liable for a tax on earnings
from other sources than mere investments, such as rentals from buildings.
V. 100. p. 1752.
Date.
Interest. Outstanding. Last Div.
STOCKCommon, 310,000,000 ($100)38.655,000 See text.
Q-J
Pref, $10,000,000,5% cum_
8,500,000 See text.
1936
2,500,000
First ratge, $2,500,000, gold.J 1911
5g
lint. at Fidelity Trust Co., Phila., Trustee
sinking fund ($1,000)
See text
1,300,000
Notes $1,500.000($1,000)____ 1915 6 M-S
Stock.-Further issues of stock can only be made for acquirement of
other properties and additions to the present properties.
Bonds.-First mtge. covers holdings of stock of the Cincinnati Traction
Co. and Cincinnati Car Co. owned and controlled by Ohio Trac. and all
other property and franchises exception Traction cos, ownership of stock In
C. D. & T. Trac. Co. and Cinchmati Zoological Co. Bonds are red. as a
whole or in part for sinking fund on any int, date at 103 and int. Sinking
fund provides for retirement of bonds at maturity. V. 92, p. 726. Amount
in sinking fund Mar. 1 1917. $382,800. The notes mature Sept. 1 yearly
as follows: 1916. $200,000; 1917 and 1918, $300,000; 1919 and 1920, $350,000; the proportion of maturities and accrued int. to be provided before
divs. are paid. Int, payable at Penn. Co. for Ins. on Lives & Granting
Annuities, trustee. V. 100, p. 1259. $200,000 retired.
Dividends.-FIrst div. on Pref. stock-lq %-was paid Aug. 1 1905:
and same rate paid quer. to and incl. Nov. 1915. The 'Feb. 1916 div. was
deferred. See Pres. Schoepf's letter in V. 102. p. 437. On Corn., first
div.-1%-paid Nov. 11909. In 1910, Oct.. 10%. In 1911, July, 1%;
Oct., 1%. In 1912, Jan., 1%; April, 1%; July, 1%; Oct., 1%; Dec..
1%. In 1913, April, 1%. None since.
Fixed
EARNS. Gross - .,
Net
r Balance,
Charges.
Surplus.
Income.
Dividends,
Cal.Year- Income.
$211,000
$782,116
$834,745
1916
a$425,000
5146,116
52,513
210,224
687,738
734,048
1915
b425,000
a Representing cumulative dividends unpaid. b Includes three quarterly
dividends paid and one quarterly dividend accumulated but unpaid.
OFFICERS.-Pres., W. Ke;loy Schoepf; let V -P., Chas. P. Taft; 2nd
V.-P., Dana Stevens; 3rd V.-P. and Sec.. Walter A. Draper; Asst. Sec.,
D. J. Downing; Treas.. W.H. Mac Alister; And., II. L. Sanders; Gen. Mgr.,
T. Fitzgerald. V. 102, p. 437; V. 103, p. 579, 759; V. 104, p. 1593.
(1) The Cincinnati Traction Co.
ORGANIZATION.-Incorporated in Ohio on Feb. 19 1901 with an auth.
capital stock of $2,000,000 (which, all except 11 shares, is owned by the
Ohio Trac. Co.), to take over under lease the Cincinnati Street Ry. Co.
See V.72. p. 391.
Decision.-On May 18 1915 the Ohio Supreme Court, affirming the decision of Judge Hoffholmer in Superior Court on Dec. 27 1911, held that
company is accountable to city for 6% of gross earnings from all traffic
within city limits, including the part of it retained by interurban roads.
V. 100. p. 1831.
On July 20 1915 the Ohio Supreme Court,reversing the Hamilton County
Court of Appeals (which had previously reversed the decision of the Superior
Court), held constitutional the law requiring the consent of a majority of
abutting property owners to be given before a car line can be extended or
tracks laid upon a street. V. 101, p. 369.
Lease of Proposed Municipal Rapid Transit Loop.-The electors of Cincinnati on Apr. 17 1917 by a vote of 30,137 to 14,189 ratified the franchise and
lease ordinance previously enacted by the City Council and approved by
the Rapid Transit Cormn. and the Cincinnati Trac. Co. The ordinance
modifies the co.'s 50-year franchise, granted in 1896, as permitted at the
end of 20 and 35-year periods. The main features of the ordinance are as
follows:
(a) Retention of 5-cont faro, with 3-cent fares for children, this fare and
the universal transfer feature to extend also to the lines of the Cincinnati
Traction Co. operated under lease and tho proposed Municipal Rapid
Transit Loop.

ELECTRIC RAILWAYS

MAY, 1917.]

29

(b) Construction by the city at a cost of about $6,000,000 (for which a
$6,000,000 bond issue was voted Apr. 25 1916) of a rapid transit doubletracked loop 15y, miles in length, extending from Oakley Station to Crawford Station, with no grade crossings, and thence by a high-speed surface
line via Brighton, Fountain Square, Edon Park and Madison back to
Oakley; and the lease of the loop to the Cincinnati Traction Co.
(c) City control over service and extensions.
(d) Application of the receipts of the system, including the aforesaid
leased lines, in such fashion that the Ohio Traction Co., as lessee of the lines
of the Cincinnati Street Ity. Co. shall be allowed to earn each year up to
$416,000 (lacking only $9,000 of 5% on its $8,500,000 pref. stock), before
any division of profits with the city (or payment by way of rental for lease
of municipal loop), the common stock up to this point to depend for dividends on the interest in the Traction Building and the investment in the
Cincinnati Car Co.
(e) Provision for granting running rights to suburban lines desiring entrance into the city.
(f) Possible acquisition of surface system at agreed price ($26,238,950
plus any reducible debt outstanding, including any securities issued with
city's approval, less amortization fund), or by condemnation.
(a) Revision of all terms in 1931.
Before arriving at the balance to be divided 55% to the city and 45%
to the company, the following cumulative payments shall be made in the
order named: For the company-All operating expenses, principal on car
trusts, taxes (except city's tax on earnings) rentals, depreciation and interest
and sinking fund on new capital invested after the year 1916. For the city
-The fixed sum .of $325,000 yearly in lieu of percentage tax on gross earning5,2and int. and sinking fund on rapid transit bonds.
Date.
Interest. Outstanding Maturity
NOTES-6 g A-0
$20.000 See text.
Eq notes"A 1200,000/(31.000 1908
5 g J-J
126,000 See text.
Equip notes Ser "B"$J60.000f 1910
c* Int. at Fidelity Trust Co., Phila.. Trustee
gold ($1,000)
g
"O."J
5
1911
Series
notes,
99,000 See text.
Equip
$220,000, gold (31,000)_c* Fidelity Trust Co., Philadelphia, Trustee
es "D," 1912
5 g A0
Etip notes, Series
187,000 See text.
40.000, gold ($1,000)_c* Fidelity Trust Co., Philadelphia, Trustee
Equip notes Series"E"$200; 1914
5 g M-S
See text
c* Fidelity Tr. Co.. Phila.,tr
000 old ($1,000)
110 Mu0
s°
tee.
See."A"are 1st M.on 50 new cars. They mature $10,000 every six mos.
from Oct.1 1908 to April 11918, incl. Ser. "B" are a 1st M. on 100 new
cars and mature $18,000 every 6 mos.from Jan. 1 1911 to 1920,incl. V.91,
p. 154. Series "0" notes are 1st mtge. on 50 new cars. They mature
$11,000 half-yearly from Jan. 1 1912 to July 11921. V. 93, p. 526. Series
"D"are a 1st M.on 76 now cars and mature $17,000 half-yearly from Apr. 1
1913 to Oct. 11922,incl. V.95, p. 889. Series "E" covers 60 now doubletruck cars and mature $10,000 semi-annually from Aug.31 1914 to Feb.29
1924. V. 98. p. 689. 999.
REPORT.-For year ending Dec. 31:
YearGross.
Taxes,
Rentals. Surplus.
Int.
Net,
1916
$5,654,664 $2,703,634 $34,792 $730,009 $1,134,337 $801,496
1915
5.301,292 2,544,179 44,124 702,338 1,134.337 663,380
ROAD.-The Cincin. Si. Ity. comprises '227.48 miles of track in the city
of Cincinnati. Ohio, extending also to adjoining suburbs. The last cable
line was converted to electricity in Juno 1902. Gauge. 5 ft. 2A In.
OFFICERS.-Chairman Executive Comm. and Pres., W. Kesiey
Schoepf; Vice-Pres., Dana Stevens; Vice-Pros., Walter A. Draper; Sec.,
D. J. Downing; Treas.. W. II. MacAlister; And..
L. Sanders; Gen.
Mgr., T. Fitzgeraid.-V. 103, p. 578; V. 104. p. 72. 1591.
(a) Cincinnati Street Railway.-Electric.
Was leased on Feb. 21 1901 to the Cincinnati Traction Co. for the unexpired term of the franchise granted by the City of Cincinnati on Aug. 13
1896, and all successive renewals and extensions of the same. The rental is
Intended to provide dividends of 5;4% for the first year, 554% for the sec
ond,54% for the third and 6% for the fourth year and thereafter. V. 72,
P. 136. Franchises, it is claimed by company, mature April 22 1946.
Favorable Tax Decision.-In June 1915 the U. S. Circuit Court of Appeals
at Cincinnati, reversing the lower court, hold that the Government was
obliged to return to the Cincinnati Street Ry., Dayton & Western Trac. Co.,
Columbus Newark & Zanesville Elec. Ry. Ft. Wayne Van Wert & Lima
'
Trac. Co. about $100.000
Trac. Co. and Indiana Columbus & Eastern
collected from these companies under the old Federal corporation tax law.
The question at issue was whether these companies carried on business
within the meaning of the law, having leased their properties to other corporations, and the only business done by them being to collect and pay out
the rentals under the leases. The Court held that they transacted business
only incidentally to that of the lessor companies. V. 101, p. 212.
Valuation.-See Cincinnati Trac. Co. above and in V. 103, p• 578.
Lease of "Loop."-See Cincinnati Traction Co. above.
ORGANIZATION.-Incorporated June 21 1880 and in 1896 purchased
Mt. Adams & Eden Park and Mt. Auburn roads.
STOO IC AND BONDSPar,
Interest. Outstanding. Last div.,&c.
Stock, $20,000,000
$50
Q-J
$18,511,950 See text.
Dividends.-To and including April 6
1901, 5% per annum; July 1 and
Oct. 1 1901 and Jan. 1 and April 1 1902, 1.3125% each; July 11902, Oct. 1
1902, Jan. 1 1903 and April 1 1903, 1.375% each; July 1 and Oct. 1 1903
and Jan. 1 and April 11904. each 1.4375%; July 1901.
%; Oct. 1901,
%. Dividends since have been at the rate of
per annum and will
so continue to the end of lease and its renewals. 6%
OFFICERS.-Pres., B. L. Kilgour; V.-P., Edward Goeptier: Sec. &.
Treas., A. J. Becht.-V. 103, p. 578; V. 104, p.
72, 1591, 1701.
(2) Cincinnati ec Hamilton Traction.-A trolley road.
ORGANIZATION.-This company was organized in Aug. 1 902 as a
consolidation of the Mill Creek Valley Street Ry.and the Hamilton Glendale
& Cincinnati Traction, V. 75, P. 497. On Sept. 30 1902 was leased to the
Cincinnati Interurban Co. (V. 75, p. 906), but on July 6 1905 lease was
assigned to the Ohio Traction Co. and the Cincinnati Interurban Co. placed
In liquidation. Rental. year end. Sept. 30 1903, $55,000. increasing to
$100.000 for 1915-16 and thereafter.
On July 9 1914 Judge Sater in the U. S. Dist. Court at Columbus held
invalid the ordinance passed by the City Council on Ape. 27 1914, providing
for a 5-cent instead of a 10-cont faro from Cincinnati to Carthage and Hartwell (see V.98. p• 1392). anti granted an injunction against its enforcement.
V. 93,13• 196.
STOCK.-Auth. and outstanding, common,$1,100,000; 5% cumulative
prof., $1,100,000. Par of shares, $100. Divs. payable Q.-J.
Dividends.-5% per annum is being paid on the pref. stock. The first
div. on the coin, of 1.% was paid Jan. 1 1904 and % was again paid on
April 1, July land Oct. 11904. In 1905, 1%; in 1906, 1 %; in 1907, 2%;
%; in 1910, 2A %; in 1911 and 1912, 3%; since.
in 1903, 2%; in 1909,

and equipt. The ordinance also provided that the right of the city to propose eaten., betterm'ts or impts. shall terminate whenever the unexpired
term or any renewal thereof is less than 15 years, and also that during such
period the company may operate at the maximum rate of fare and fix the
schedules subject to the police power of the city. Provision is also made for
the use of surplus earnings during this 15-yr. period, either in the payment of
floating debt or the creation of a s. f, to purchase securities and reduce
capital value. At a referendum election on Nov.7 1911, the electors ratified
the ordinance amending that of Dec. 1909.
Has franchise in Lakewood, expiring May 1 1934, which provides for a
3-cent fare within city limits and a 5-cent fare to Cleveland. and gives the
City of Lakewood the right to purchase the company's lines within the
city, subject, however, to the option of the city of Cleveland to purchase
the entire property of the company.
Valuation.-Judge Tayier placed the value of the physical property of the
Cleveland Elec. R.Co. at $17,511,856 and the franchise value at $3,615.844; total, $21,127,700; agreed value of property purchased from Forest
City By. Co. *1,805,600; total valuation, $22,933,300. To this is added
$1.158.300 Interest or rental accrued, making the entire "capital value"
$24,091,600. The bonded debt of $8,128.000 and floating indebtedness
as of Jan. 1 1908, $1,288,000. or $9,416,000 in all, is deducted, leaving
$14,675,600. The valuation is to be increased for the purpose of fixing the
price at which the city or its nominee may purchase the property by the
amount of future requirements,including cost of new pay-as-you-enter cars
and 75% of the cost of remodeling old cars as pay-as-you-enter cars.
Fares.-Under the ordinance, fare to East Cleveland is same as city fare.
In March 1917, however, an agreement was reached, subject to ratification
by the City Councils of Cleveland and East Cleveland, by which the latter
is to be given a new 25-year franchise providing for 6 tickets for 25 cents
and 1-cent transfer, a 5-cent single fare and free transfers and 6 tickets for
25c. and free transfers for local rides in East Cleveland. Fare to other
suburbs 5 cents, or 11 tickets for 50 cents, according to contracts. The
company's schedules and routes are subject to the supervision of the
city and the rates of fare to be fixed so as to net a return of interest as stated
above on the capital value of the property and permit of the maintenance at
all times of a so-called interest fund of at least $500,000. V. 89. p. 1667.
When this amount falls to $300,000 this shall be prima fade evidence of
the necessity of raising the fare to the next higher rate. An experimental
fare of 3c., with lc. extra for transfers without rebate, was tried to see if
it would yield the auth. Int. on capital val.-5% on bonds, 6% on floating
debt and capital stock. On Juno 1 1911 authorities ordered the fare reduced to 3c. cash fare, lc. extra for transfer, but the latter to be rebated
vrhen taken up. V.02, P.1498; V.93. p. 1190. On Sept. 1 1914. however,
the one-cent charge for transfers with no rebate on surrender was restored.
as the interest fund had fallen below the $300,000 mark. V.99, p.608,342.
On Dec. 14 1912 the Council of Cleveland passed an ordinance giving the
company the right to transport freight within the city limits in interurban
cars and to charge the interurban companies 25c. per car mile.
ORGANIZATION.-In 1908 changed name from the Cleveland Electric Railway Co. (which had in 1903 taken over the Cleveland City Ry.)
to Cleveland Railway Co.,and authorized new stock to the amount of $35,000.000. The old stock of Cleveland Electric By. was given a valuation
of $55 per share, or $12,870,000 (having formerly been $23.400.000) and
was paid for in new stock issued by Cleveland Railway at par ($100
valuation. The Forest City By. (which had first absorbed the Low Fare
Fly.) was purchased for $1,805,600 stock of Cleveland Fly., the shares of the
Forest City By. being accepted at their par ($100) value.
On Jan. 2 1917 a board of arbitrators authorized the co. to enter into an
18-year contrazt with time Cleveland Electric Illuminating Co. for the
purcnase of power.
In Feb. 1912 entered into an agreement with the North Randall Ry. to
operate cars over an electric railroad built by that company from the Broadway line on Miles Ave. to the North Randall race-track and fair grounds.
31i miles. The road was placed in operation July 29 1912. The North
Randall By.guarantees the co. against loss. After payment of all exps.,incl.
Int., the surplus earnings are to be equally divided between the two cos.
Purchase by City Defeated.-At the election held Nov. 2 1915 the voters
rejected the ordinance authorizing the city to purchase the property, issue
and sell bonds and pass a franchise as security therefor. V. 101, p. 1552.
Date. Interest. Outstanding. Maturity.
STOCK AND BONDSStock $35,000,000 ($100)
$26.800,000 Apr.'17.1 4
Q-J
First mortgage $35,000.000
- gt 1911 5 M-S
5.495,000 Mch 1 1931
c*tf(Interest in New York City or Cleveland.
($1,000)
Bonds.-Of the first mortgage of 1911.315,000,000 auth. may be issued for
55% of cash cost of extensions, betterments, &c., and remaining bonds for
50% of such cash cost, when net earnings for previous 12 mos. shall have
equaled at least twice the int. charge, including bonds proposed to be issued.
Bonds are red. on any int. date at 105 and int. on 90 days' notice. Citizens' Savings & Trust Co., Cleveland, and Bankers Trust Co., N. Y.,
trustees. V. 92, p. 659.
REPO RT.-For calendar year:
Calendar
Gross
Other Int., Taxes &
Net
Balance,
YearEarnings.
Earnings.
Income. 6% Dividend.
Surplus.
1916
$9,521,555 $2,851,123 $75,751 $2,492,239
$444,635
2,685,767
8,468,481
1915
73,832
2.344.565
415.034
From the surpluses as above there was deducted $384,000 in 1916. against
$209,000 in 1915, for obsolete equipment written off, leaving $60,635 and
s206,031, respectively.
Dividends.-First div.-1 %-under new franchise ordinance of Dec.
1909 paid April 1910 and 1%% quar. since to and incl. Apr. 1917.
ROAD.-Operates 372.1473 miles of single track, of which 318.3869
miles are owned. Mostly 80, 95, 100, 103 and 141-lb. standard rails,
1,400 passenger cars; 8 other revenue cars and 191 service ears.
OFFICERS.-Pres.. J. J. Stanley; V.-P., R. A. Harman; V.-P. & Gen
Mgr., Geo. L. Radcliffe Sec. SC Treas., H. J. Davies; Asst. Treas., Wm. J
Mead; Aud., Thos. P. Kilfoyle.-V. 102, p. 800, V. 104, p. 1044, 1145.

CLEVELAND, OHIO.

STOCK AND BONDSDate. Interest. Outstanding. Maturity.
Common 54.236,000(5100)Prof$2,500,000 5% cum ($100) __
$24,423126:00
First general consol mortgaget 1907 5 A-0
945,000 April 1 1927
$10,000,00011,000)gcs& rept(Int. at Cleveland Tr. Co., Cleve., Trustee.
Cleveland & Elyria first mort-{ 1895 6 Q-P
200.000 Aug. 1 1920
gage on 18 miles 4500) Interest at Citizens' Savings & Trust Co.,
Subject to call
c nt
Cleveland, Trustee,
Elyria & Oberlin first inert- 1897 6 F-A
100.000 Aug 1 1917
gage on 9 miles (5,500) gold Interest at Cleveland Trust Co., Trustee.
Subject to call.
cpt
Clev Ber Elyr & Oberlin cons 1899 5 g M-S
127.000 Mch. 1 1919
M $500,000 g ($1,000 each) Interest at Cleveland Trust Co., Trustee.
Subject to call
cot(
Cleveland Elyria & Western 1900 5 g F-A
1,073,000 Aug. 1 1920
first mortgage $1,500.000 Int. at Cleve. Tr. Co., Clove., Trustee, or at
($1,000) gold
c&rcpt
Nat. Bank of Commerce in N. Y.. May be
I called at 100.
Elyria Grafton & Southern( 1902 5 g J-J
$100.000 Jan. 1 1922
By first mortgage guar- Interest at Cleveland Trust Co.. Cleveland,
anteed by 0 E & W ($100,Trustee, and Equitable Trust Co., N. Y.
000(51,000) gold_ _ „c*cpt
Can be called at par.
Norwalk Gas & Electric first 1900
6 A-0
110.000 April 1 1920
mtge. $110,000 ($500). g. Int. at Guardian S. & Tr. Co., Cleveland,
Subject to call
cpt I Trustee. or Chase National Bank, N. Y.

CLEVELAND SOUTHWESTERN Sc COLUMBUS RY.
ORGANIZATION.-Incorporated in Ohio on March 4 1907 and is a
consolidation of the Cleveland & Southwestern Traction Co., the Cleveland
Ashland & Mansfield Traction Co. and the Ohio Central Traction Co. For
terms of exchange see V. 83, p. 1590. Also owns the Norwalk Gas &
Electric Co.
In Jan. 1913 the Elyria Grafton & Southern By. reduced its capital stock
from $100.000 to $1,000. and the Norwalk Gas & Elec. Co. from $125,000
to $1,250. in March 1913 the Cleveland Southw. & Col. reduced the
authorized amount of common stock from $7,500,000 to $4,236,000.
In May 1915 the Ohio P. S. Comm. authorized the company to issue
1st consul. M. 5s at 85 to reimburso treasury for expenditures in
$119.87.5
and
ns
operates
rt4
.
31.32 miles of track from the "Zoo" in CinItO
ciA
uaD
1%
and 1914, and pending sale to hypothecate them at 65. Bonds are
cinnati to Hamilton and 15 miles from Cincinnati to Lockland. Gauge, 1913 in
treasury.
5 ft. 21i in. Operates over tracks of Cincinnati Traction Co.from "Zoo" held
In Jan. 1917 accepted a 25-year franchise from the City of Elyria, proto Fountain Square in Cincinnati.
for 20-minute city service and 6 tickets for 25c.
OFFICERS.-Pres.. II. II. Hoffman; V.-P., B. L. Kilgour; Sec. & viding
In April 1917 the Ohio P. U. Comm. auth. the company to issue $201,836
Treas.. A.J. Becht,all of Cincinnati.-V.98. p.
V. 99. p. 195.
1st Consol. M. 20-yr. 57 bonds to reimburse the treasury (not incl. in
amount reported outstanding).

CLEVELAND RAILWAY CO.
The receivers of the Municipal Traction Co. having been discharged and
the debts of that company provided for, the Cleveland Ity. Co. on Mar. 1
1910 resumed possession of its lines under ordinance (see below) of Dec.1909.
V. 90, p. 626. The lease to Municipal Traction Co. was canceled of record.
Franchise Ordinance.-A new franchise ordinance (V. 89, p. 1667) was
passed in Dec. 1909 by the City Council, and accepted by the railway co.,
based upon the valuation of the co's property as fixed by Judge Taylor. 'rho
ordinance grants franchises to operate on existing roads to May 1 1934, subJect to the right of the city to purchase the property. In case of purchase
the city must pay the capital value of said property, as fixed by Sec. 16,
plus at the same time 10% of so much of the capital value as is represented
by capital stock, assuming and agreeing to pay, in addition thereto, all the
obligations, indebtedness and liabilities of the co., and all liens other than
bonded debt upon its property then existing, which bonded debt the city
shall provide for by assumption, by payment or by taking the property
subject thereto, as may be provided by law at the time. On and after
Jan. 1 1918 the city may designate a purchaser or licensee in place a
the city on payment ofsame amount. On Feb. 17 1910 at a referendum election the electors ratified the ordinance (V. 89, p. 1667; V. DO, p. 167. 502).
On July 10 1911 City Council passed an ordinance amending that of Doc.
1909 providing, among other things, for additions to capital as required and
particularly for the immediate expenditure of $2,500.000 for impts.. extolls.




30

ELECTRIC RAILWAYS

STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Cleveland & Southwestern( 1903 5 g F-A
1.400,000 Feb 1 1923
first and consol mortgage Int. at Guardian Say.& Tr. Co., Cleveland.
$3.000,000(31.000)gc&rcpt
Trustee. or Equitable Trust Co., N. Y.
Ohio 0 Trac first mortgaget 1899 5 g J-D
101,000 June 1 1919
closed ($1,000), goldc*ntf'Int. N. Haven Tr. Co.. N. Hay. Coon., Tr.
Ohio Central Traction consol- 1 1903 5 g M-S
299.000 Mar 1 1923
!dated mortgage closed Int. at Cleve. Tr.Co..Cleveland, Trustee. or
(3500), gold
at National Bank of Commerce, N. Y.
c*cpt
Bonds.-Of the 310,000,000 new bonds. 33.510,000 are reserved for prior
liens and 35,545,000 for extensions. improvements, &c. They are subject to call after 10 years at 105 and accrued interest. The Cleveland
& Southwestern bonds of 1903 are subject to call at 105 and int. $1,600,000
of this issue are reserved to retire certain underlying bonds.
The Cleveland & Elyria 1st M.68 of 1895 fell due May 1 1915. but were
extended to Aug. 1 1920. Callable any int, date on 30 days' notice, as
follows: In 1917. 100'4: 1018. 100
1919. 100;1: thereafter at par & Int.
Of the Cleveland Berea Elyria & Oberlin 5s dated March 1 1899.$300,000
remain in reserve for the retirement at or before maturity of the divisional
6s to a like amount. Of the $1,500,000 Cleveland Elyria & Western new
55. 3427.000 are reserved to retire prior liens. The Ohio Central Trac. Co.
consol. bonds may be called upon 30 days' notice at 105 and int.
EARNINGS.-For calendar years:
YearNet(aft.Taxes). Oth.Inc.
Gross.
Int..&c.
Surplus.
1916
31,335,839
$468,486
$1,317
$332,284 $137,519
1915
1,240,832
375,788
1.268
46,680
330,370
ROAD.-Operates 209 miles of track (of which 132 miles are on private
right of way) in and from Cleveland to Berea. Elyria, Oberlin. Norwalk,
Medina. Grafton. Wellington, North Amherst. Lorain. Creston, Chippewa.
Lake, Seville, Wooster, Linndale, Puritas Springs, Gallon, Bucyrus, Crestline, Mansfield. Ashland, Nankin. Polk, West. Salem, Lodi and Le Roy.
60, 70 and 100-1b. rails. Standard gauge. Also does freight and express
business. Operates 66 passenger and 65 express, &c., cars; total, 131.
Company owns Puritas Springs and Seccalum Park and reaches Chippewa
Lake. Also owns and operates electric-lighting plant in Norwalk.
OFFICERS.-Pres., F. E. Myers; 1st V.-P., F. H:Ginn; 2d V.-P., L. J.
Wolf; Sec. & Treas., J. 0. Wilson; Gen. Mgr., E. F. Schneider; Auditor,
H. B. Cavanaugh. General office. Cleveland.-V. 104, p. 1044, 1701.
CLEVELAND PAINESVILLE Sr EASTERN RR.
ORGANIZATION,&c.-Incorporated in Ohio on April 25 1895. Road
completed in July 1908. Franchises expire from 1920 to 1935. In June
1906 acquired control of the Clev. Painesv. & Ash. RR. V.82. p.1322. 1379.
In 1913 purchased the United Light & Power Co. (stock, $100,000
bonds. $100.000).
In May 1917 applied to P. U. Comm. for auth. to issue $68,000 bonds
for exts. and impts.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock,$3,500,000(par $100)$2.500,000
First mortgage. 3500.000. 1896 5 g A-0
500,000 Oct 1 1918
gold ($1,000 each)_c*_cpt Interest at Morton Trust Co., N. Y., or
Cleveland Trust Co., elev.. Trustee.
Cense!. mort. (closed $1.- 1898 5 A-0
1.131,000 Oct 1 1918
631.000 (31,000). gold_cpt Int. at Citizens' Say. & Tr. Co.. Cleve..
Trustee, or Trust Co. of America, N. Y.
Ref and extension mtge, 35,- 1908
5 g M-N
894,000 May 1 1948
000.000.gold($1.0Wic*cpt Int. at Clevel Trust Co., Cleveland, Trustee,
or company's agency in New York.
Bonds.-$500,000 consols are reserved to retire underlying liens. The
mtge., originally for 32,000.000, was closed at $1,631,000 and the balance
canceled. Of the refunding and extension bonds, $1.631,000 are reserved
to retire prior liens, and $2,475,000 are reserved for future extensions and
improvements, to be issued only when net earnings for preceding 12 months
have been not less than 2570 in excess of interest charges on outstanding
bonds, including those to be issued. Subject to call May 1 1938 or on any
Interest date thereafter at par and interest on 30 days notice. The 1st
mtge. bonds originally fell due Apr. 1 1916 but were extended to Oct. 1 1918.
ROAD.-Owns road from Euclid. Ohio. to Painesville and Fairport,
24.02 miles ("Main Line"). and uses Cleveland Electric Ry. from Euclid
to Public Square, Cleveland. 10 miles; also owns "Shore Line," extending
from Willoughby to Cleveland (St. Clair Ave. & 110th St.), 14.89 miles,
and uses the Cleveland Electric Ry. Co.'s track from that point to the
Public Square, Cleveland. 5 miles. Total track operated (including 4;1
miles of double), 4631 miles. With the Cleve. Painesv. & Ashtabula forms
a continuous line from Cleveland to Ashtabula. 46 motor cars and 8 other
cars. Power-house is at Painesville. Car-houses at Willoughby, Painesville and Nottingham.
REPORT.-For years ending Dec. 31 (excl. United Light & Power Co.)
Calendar
Other
Net
Gross
Interest
Balance,
YearEarnings.
Earnings. • Income. and Taxes. Surplus.
$2,874
3441,139
1916
$218,151
$164,695
$56,330
2,978
1915
404,051
212,014
159,725
55.267
The results of the United Light & Power Co. for 1916 were: Gross,
$22,592; net, after taxes, $8,493. In 1915. gross $21.116; net, after taxes.
$9.399.
OFFICERS.-Pres., E. W. Moore; V.-P., H. A. Everett; V.-P. & Gen.
Mgr., J. Jordan; Treas., E. V. Hale; Sec., Fred. S. Horton; Asst. Sec. and
Treas.. John P. Witt, Cleveland,0.-V.102,p. 885, 1811; V.104,p. 1489.
(1) Cleveland Painesville & Ashtabula RR.-A trolley road. Entirely over private right of way, except through some of the villages, where
jranchises expire in 1927.
Default-Committee.-Int. due Jan. 1 1917 was defaulted. The following
committee is asking deposits of bonds with the Cleveland Trust Co: A. G.
Tame,E. V. Hale and J. A. House, all of Cleveland; Sec., Gardner Abbott,
1215 Williamson Bldg., Cleveland. V. 104, p. 256.
ORGANIZATION.-Incorporated in Ohio in 1902.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock. $1.000,000 ($100)$1,000,000
First mortgage $1.000.0001 1902 5 g J-J
1,000,000 July 1 1922
ce.c pLIInt.at Cleveland Trust Co..Cleve., Trustee.
gold (31.000)
Bonds.-No sinking fund and bonds cannot be called. See V. 75, p. 549.
REPORT.-For years ending Dec. 31:
Gross.
YearsNet.
Other Inc. Int.&Taxes.
Deficit.
1916
3158,649
$53,464
3219
$78,047
324.364
148,868
51,559
171
76,996
25,266
1915
ROAD.-Operates 30 miles track between Painesville and Ashtabula.
Put in full operation on July 30 1904. 70-1b. T and girder rail used. Track
standard gauge. Connects at Painesville with the Cleveland Painesville de
Eastern RR. and at Ashtabula with the Pennsylvania & Ohio Ry.-V.86,
p. 337; V.88, p. 374; V. 92, p. 322; V. 98, p. 386; V. 104,p. 163, 256.
CLEVELAND & EASTERN TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in Ohio on May 18 1910 to succeed
the Cleveland & Eastern division (V.90, p. 1613) of the Eastern Ohio Traction Co. per plan in V.89, p. 1541, 1596.
On May 3 1915 stockholders voted to amend the charter so as to permit
company to engage in electric light and power business. V. 100. p. 1509.
STOCK AND BONDS- Date,
Interest. Outstanding. Maturity.
Common stock ($100)
$381,600
Prof stock, 5% n-c($100)
465,865 Apr'17, 31%
First mortgage, $1,000,0004 1910
5 g J-J
763,200 July 1 1932
gold ($1,000)
c*lInt. at Guardian Say.& Tr.Co.,Clev.. True
Bonds.-Remaining bonds reserved for extensions, &c. Bonds subject
to call, any or all, on any int. day. at 103 and int.; began to draw int. Jan.
1 1912. V. 91. p. 336.
Dividends.-The first div. on the preferred stock-41%-was paid in
Nov. 1915. In 1916, 3%; in 1917. Jan., 1%; April, 31%.
EARNINGS.-For cal. year 1916, gross, $238,410; net, after taxes, $91.938; charges, $54,465; surplus, $37,473. In 1915, gross. $219,224; net,
after taxes. $77,012; charges, $38,160; surplus, $38,852.
ROAD.-Operates 40 miles of track from Cleveland to Chardon. Burton
and Middlefield. Ohio. Standard gauge. 60-lb. T rails.
OFFICERS.-Pres., II. P. McIntosh; V.-P., Horatio Ford; Sue. and
Gen. Mgr., Robt. D. Beatty; Treas., 0. A. Taylor. Office, 708 Belmont
Bldg., Cleveland, 0.-V. 100. p. 1509; V. 101. I). 1627: V. 102. p. 437.




[VOL. 104.

CLEVELAND & CHAGRIN FALLS RY. CO.
ORGANIZATION.-Incorporated in Ohio on Feb. 18 1910 to take over
the Clev. & Chag. Div. of the East. Ohio Trac., sold Feb. 5 1910.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock,3152.500($100)---- ---------------*152.500
$152.500
& Ch Falls 1st M$300.4 1910 6 g 3-3
251,900 Jan 1 1930
000 g ($100 & $500) ___c*lInt. at Guardian Say.& Tr. Co., Cloy., Trus.
Bonds.-Subj. to call any or all on any int, date at 10234 and int.; $48.100
are in treasury.
EARNINGS.-For cal. year 1916, gross, $82,131; net, after taxes, $21,430; charges, $15,114; surplus, $6,316. In 1915, gross, $85,015; not, after
taxes, $22,945; charges. $15,114; surplus, $7,831.
ROAD.-Operates 37 miles of line between Cleveland and Chagrin Falls.
Standard gauge. 60 and 70-1b. T rail.
OFFICERS.-Pres.. H.P McIntosh; V.-P.. Horatio Ford: Sec.& Mgr.,
Robt. D. Beatty: Treas., 0. A. Taylor.-V.99. p. 1909.
LAKE SHORE ELECTRIC RV.
ORGANIZATION.-The Lake Shore Electric Ry. was incorporated on
Sept. 25 1901 under laws of Ohio as a consolidation of the Lorain & Cleveland Ry., the Sandusky & Interurban Ry., the Sandusky Norwalk & Southern Ry. and the Toledo Fremont & Norwalk RR. V. 73. p. 784. About
half the road Is built on private right-of-way.
Controls the Lorain Street RR. and the Sandusky Fremont & Southern
Ry., which see below. Also controls the People's Light & Power Co. and
the Bellevue Illuminating & Power Co. In 1907 made contract to supply
power to the Toledo Findlay & Fostoria and several other roads. V.85,p1648
In 1910 charter was amended so as to transform the then existing 5%
cum. pref. stock of 33.000.000 into $1,000,000 6% cum. 1st pref. and $2,000,000 5% non-cum. 2d pref. stock; V. 90. p. 698. At the same time
accumulated dividends on the old pref. stork (part of which had been
Issued later than the rest) were adjusted. V.90. p. 1170. 1296; V.91, p.790.
In Jan. 1915 the articles of incorporation were amended to enable the company to sell and distribute electricity for light, heat and other purposes
In certain localities.
The Ohio Utilities Comm. has from time to time authorized the company
to sell additional gen. mtge. bonds, aggregating $377,000, which have
been issued and are held in treasury. On Feb. 10 1915 increased authorized
amount of 1st pref. stock from $1,000,000 to $1,500,000.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common,$4,500,000 (par $100)_
$4,500,000
1st W31.500,000(9100)6% cum __1,000,000
See text
Q-J
2d pf S2,000,000(3100)5% n-c
2,000,000 No div. yet.
First cons mtge, $4,000,000 1903 5 g J-J
1,690.000 Jan 1 1923
c tf Int. at Citizens' Say. & Tr. Co.. Cleveland.
(31,000), gold
Trustee. or Trust Co., of America. N. Y.
General mtge, 37,000.000 1903 5 g F-A
2,255,000 Feb 11033
c* tf Int. at Citizens' Say. & Tr. Co., Cleveland.
(31.000). gold
Trustee, or company's agency in N. Y.
Lorain & Cleveland 1st. gold 1897
b g J-J
750,000 July 1 1927
($1.000).$1.000,000_ _ - tf Interest at Citizens' Say. & Trust Co..
Cleveland, or company's agency in N. Y.
T F & N 1st M 31,500,000 g 1900 5 g
1,500,000 Jan 1 1920
guar (3500. 31.000) _c* ti Int. at Union Trust Co.. Detroit, Trustee.
Bonds.-Of the 34,060.000 first consols. 32.250.000 are reserved to retire
prior liens; $60,000 have been canceled' $4,000,000 of the general mortgage
5 per cents are reserved to retire the first consols and $745,000 (of which
$377,000 have been certified by the trustee and are in treasury) for extensions and impts. at 809 of cost. Neither issue is subj. to call. A sinking
fund retiring $10,000 of first consols per annum commenced Jan. 1 1909 and
runs until 1914. From 1920 to 1922, Incl.. $30,000 bonds per annum are to
be canceled. The L.& 0. bonds can be called after July 1 1917 at par and
int. The T. F. & N. bonds can be called at 110 and int. on any int. data
upon 90 days' notice. A sinking fund on the T. F. & N. bonds of $10,000
per annum commenced in 1905 and runs to 1909. incl.; from 1910 to 11914,
$20000 per ann.; 1915 to 1919. 330,000 per ann.; 3275,500 bonds were held
in sinking fund Dec. 311916.
Lien.-The T. F. & N. bonds are a first lien on the division between
Toledo and Norwalk' the L.& C. bonds are a first lien on the road between
Cleveland and Lorain; and the 1st consol. bonds a first lien on all other
lines and also a second mtge. on the divisions noted above.
div. on 1st pref., 1;1%, paid Oct. 1 1910; same
amount quarterly to and including April 1915. July 1915 dividend omitted
(V. 101. p. 47). None since.
REPORT.-For years ending Dec. 31, excluding Lorain Street RR.,
Sandusky Fremont & Southern By. and light and power companies. Report for 1916 in V. 104. p. 1895.
YearNet(aft. Tax.) Oth.Inc.
Gross.
Interest.
Surplus.
1916
$1,252,234
$448,634
$25,000
$339,898 $133.736
1915
1.097.042
377.982
25,000
336,444
66.538
Earnings for 1916 of the People's Lt.& Pow. Co.were: Gross. $15,309;
net, after taxes, 35.080; and of the Bellevue Ill. & Pow. Co., gross. $27,903;
net, after taxes. $9,603.
ROAD.-Operates 172 miles, extending from Cleveland to Toledo and
Sandusky, and from Sandusky to Norwalk; also city lines in Sandusky;
standard gauge; 70 to 100-1b. rails. Through line from Cloy. to Toledo was
opened for business about Aug. 20 1902. In addition owns the Sandusky
Fremont & Southern, 20 miles, and the Lorain Street RR., 24.77 miles,
making a total of 210.77 miles. 72 passenger. 5 baggage. 17 work and 47
freight cars. Total. 141.
OFFICERS.-Pres., E. W. Moore, Cleveland and N. Y.; V.-P's., H. A.
Everett and W. H. Price. Cleveland; V.-P. and Gen. Mgr., F. W. Coen,
Sandusky, 0.; Sec. &
Jno. P. Witt, Cleveland.-V. 100. p• 733,
1592, 2163: V. 101, p. 47;
Treas..
V.102. p. 800, 1431; V. 104, p. 1263, 1895.
(1) Lorain Street Railroad Co.-A trolley road.
ORGANIZATION.-Incorporated in Ohio on Aug. 3 1906 and is a consolidation of the Lorain St. Railway and the Avon Beach & Southern RR.
Entire stock and $500,000 cons M 5s owned by the Lake Shore Elec. By.
Operates on private right-of-way except three miles in Lorain and Elyria.
on which franchises run until 1919.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock 82.500.000(3100)$2,000,000
Lorain St RR notes ($1,000, 1915 0 Q-J
200,000 Jan 1 1918
Int. at Citizens' Say.& Tr. Co., Clev., Trus.
$500 and $100)
Lorain St Ry 1st M $750.000 1899 5 g M-N
550,000 Nov 1 1949
c*.tf Int. at Guaranty Trust Co., N. Y., Trustee.
gold ($1,000)
First consol mtgo $2,000.0001 1906
5 g J-J
See text Jui 1 1938
gold guar 31.000)
c*.tf Int. at Citizens' Say.& Trust
Cleveland,
Trustee. or Agency in New York.
Bonds.-Of the 32.000,000 cons. bonds, $750,000 are reserved for prior
liens and $750,000 for extensions, &c. They are guar.. prin. and int. by
endorsement by the Lake Shore Electric By. The notes are secured. by
$200,000 Lorain St. Ry. consol mtge. 5s(now a first lien) and 3100.000 first
consol. 5s of 1906. They are guar., p. & I. (end.) by the Lake Shore Elec.
Ry. and are callable at par and int. on any int. date on 15 days' notice.
Cony. into 1st M.5s upon a basis of 9234. or upon adjustment of discount
and interest. The notes were issued to retire $200,000 Lorain St. By,6%
bonds due Jan. 1 1915.
REPORT.-For calendar years:
Cal.Year- Gross Inc. Exp. de Tax Net Earns. Int. Paid.
Balance,
1916
3205.388
3129,188
364,500
876,200
sur.$11,700
1915
150,152
104,126
64,500
46.026
def. 18.474
ROAD.-Operates 24.77 miles of track between Elyria. Lorain and
Beach Park. standard gauge. 24 cars. V. 99. P. 1673; V. 100. p. 2167.
(2) The Sandusky Fremont & Southern Ry.
ORGANIZATION.-Incorporated in Ohio in April 1900. Is operated
as part of main line of Lake Shore Electric By. between Cleveland and
Lake Shore Elec. Ry. owns entire stock. Private right of way.
STOOK AND BONDS- Date,
Interest. Outstanding. Maturity.
Stock, $2,000.000
-Owned by the Lake Shore Electric By,First mortgage. $2,000,000,{ 1900 5 g .1-3
July
uol., CI
s0
t C
J
,Ou0
5r
64T
$
&
gold (31.000). guar___c* tf Int. at Citizens Say.
Cleve.
ive3.6
Trustee, or at Agency in New York.
Bonds.-Are guaranteed, prin. and int., by endorsement, by the Lake
Shore Elec. Ry_,.• not subject to call. See V. 83. p. 1099.
REPORT.-For calendar years:
Calendar
Gross
Expenses and
Interest
Net
Balance,
YearIncome.
Taxes.
Paid.
Earnings.
Deficit.
1916
392,716
361,394
331,322
332,250
$928
1915_ ...._.
76.687
54,832
21,855
32,250
10,395
ROAD.-Operates a line from Sandusky to Fremont, 20 miles. 14 cars.
-V.83, p. 97. 1099.

ELECTRIC RAILWAYS

MAY, 1917.j

31

CLINTON, IOWA.

COLUMBUS, GA.

CLINTON STREET RY.
ORGANIZATION.-Incorp. in Iowa Feb. 4 1891. Under its charter
the co. is auth. to conduct a street railway, light, power and heating business. Franchise covering main street of the city is perpetual; others
expire 1935 and 1938.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity
$596,600 See text.
Stock $1,000,000 ($100)
400,000 Mar 31 1926
First mortgage $400,000 gold( 1906 5 g A-0
c*J Int. at Illinois Tr.& Say. Bk., Chic., Trustee
($1,000)
Bonds.-Callabe at 105 and int. on any int. date on 90 days' notice. A
supplemental mortgageprovides that beginning April 1 1918 a fund of 2%
of the bonds outstanding or retired by this fund be established to be used
for renewals, betterments, &c., or for the purchase of bonds up to 105
and interest. V. 104, p. 862.
Dividends.-Paid 6% dividends from 1907 to 1913, incl. (except 5% in
1912). In 1913 the stockholders advanced a susbstantial sum for construction, &c., and waived dividends while this sum was being paid out of earnings; 441,400 was so paid in 1916.
EARNINGS.-,--For year ending Dec. 311916, gross, $185,870; net, after
taxes, $76,00L. In 1915, gross, $178,810; net, $79,326.
ROAD,&c.-About 16 miles of single track equivalent and 32 single truck
cars. Current is purchased from the Clinton Gas & Electric Co. Interurban cats from Davenport enter to centre of city over the company's
tracks under traffic agreement.
OFFICERS.-Pres., C. H. Young; V.-P., R. C. Langan; Sec., A. L.
Schuyler; Treas., C.(.•.Coan; Gen. Mgr.,Bernard Bohnsen. V. 104,p.862.

COLUMBUS ELECTRIC CO.
ORGANIZATION.-Incorporated in Maine on Feb.6 1903 and owns all
the stock of the Gas Light Co. of Columbus: the entire common stock
and $121,300 of the pref. stock (out of $350.000) of the Columbus Power
Co., and all the stock of the Columbus RR. Co.; also guarantees toe bonds
of the Columbus Power Co. as to principal, sinking fund and interest.
The above companies do the entire electric railway and lighting, gas and
power business of Columbus and vicinity and the adjoining towns of
Phoenix City and Girard, and a wholesale power business in Columbus,
Newnan, Hogansville, Lagrange, Lanette, Trimble, Grantyille, Moreland
and West Point. Franchises perpetual. The freight lines are leased to the
Seaboard AL* Line Ry. for 50 years from Oct. 17 1901 at a rental of $7,500
per ann. $100,000 pref. stock is held by the Public Service Investment Co.
STOCK AND BONDS- Date,
Interest. Outstanding. Maturity.
Corn,$1,500,000 ($100)$1,500.000
Pref.6% cum,$1,200,000_
.1-J
1,200,000 Jan '17,3%
1st colt M, $1,500,000, gold j 1903 5 g A-0
758,000 April 1 1938
c*ntflInt. at Old Colony Tr. Co., Boston,Trustee.
(111 000)
3-yr notes $2,000,000 gold I 1914 6 g J-J
2,000,000 July 1 1917
($100.$500 & $1.000)___e*lInt. at Commonwealth Tr. Co.. Bost.. trust.
Columbus Pow 1st M $4,000,-f 1906 5 g A-0
2,376.000 April 1 1936
000 gold guar
c tflInt. at Commonw. Tr. Co., Boston, trustee.
Bonds.-The bonds of the Columbus Electric Co. are subject to call as a
whole at 105 & int. $53.000 are in treasury. An "improvement fund" of
2% per annum of outstanding bonds commenced in 1905. The 3-year
notes are callable as a whole on any int, day on 60 day's notice at 101 and
int. V. 99, p. 119. The Columbus Power Co. bonds are callable as a
whole (or in part for sinking fund) at 110 and int. on any int. day. A
sinking fund of 1% of bonds out began April 1 1912. $124.000 purchased
for sinking fund and canceled. Bonds are guar., p. & i., and s. f., by
Columbus Electric Co.
Dividends.-First div. on pref. stock,.3%, was paid Jan. 1907: 3% has
been paid semi-annually since to and including Jan 1917.
PROPERTY.-25.9 miles of equivalent single track, of which 5 miles
leased to Seaboard Air Line for 50 years. 50 cars; 2 steam locomotives
(leased to S. A. L. Ry.). Standard gauge. Controls hydro-electric plants
with a capacity of 23,300 k. w.,and a steam plant of 1,500k. w.capacity.
EARNINGS.-For 12 months ending Dec. 31:
Cal.
Gross
Net, after
Interest
Sinking &
Balance.
Taxes.
YearEarnings.
Charges. Impt. Fds,
Surplus.
$881,354
$530,121
$303,415
1916
$40,160
3186,546
304,384
1915
721,217
399,177
40.160
54.633
OFFICERS.-Pres., Harry II. Hunt; V.-P., Maurice H. Richardson;
Sec., Alvah K. Todd; Treas., Henry B. Sawyer; Gen. Mgrs., Stone & Webster Mgt.Assn., Boston.-V.100,p. 1831; V. 103,p. 320; V. 104. p. 1591.

COFFEYVILLE, KAN.

THE UNION TRACTION CO.
ORGANIZATION.-Incorporated Sept. 28 1906 in Kansas. In Dec.
1916 was granted a permit to do business in Oklahoma. Franchises expire
1957. Road is on private right of way except in Coffeyville, Independence,
Cherryvale and Parsons.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturiti,.
Stock,3500.000
$500.000 See text.
First mtge, $1,000,000, gold( 1907 5 J-J
973,000 Jan 1 1937
($1,000), sinking fund__ tf Warren (Pa.) Trust Co.. Trustee.
A-0
t 1911 6
100.000 Oct 1 1921
Second mortgage
Bonds.-lst M. bonds are red. ann. by lot at 105 and int.. beginning Jan.
1912, through s. f.; 827.000 have been retired. S.f. of 10% of net earnings
annually began in 1911. Int. at Nat. City Bk., N. Y.; Commercial Nat.
Bank, Chic., and Tradesmen's Nat. Bank, Phila. See V.88. 13. 1003.
Dividends.-A div. of6% was paid during the fiscal year end. June 30'13.
EARNINGS.-For year ending June 30 1916, gross, $277,209: net, after
COLUMBUS, IND.
taxes. $99,243; int. on bonds, &c.. $59,069; surplus, $40.174.
INDIANAPOLIS COLUMBUS & SOUTHERN TRACTION CO.
ROAD.-Operates 67 miles of road, of which 9% m. in Coffeyville, 7
Lease.
-In
Dec.
was
leased for 999 years to the Inter-State Public
1912
miles in Independence and 50% miles of interurban road between Coffey Service Co..a subsidiary of the Middle West Utilities Co..at a rental of5%
villa, Independence, Cherryvale and Parsons. 70-1b. T rails.
on the capital stock,or $92,000 a year above all taxes. V.95. p.680. See
OFFICERS.-Pres., D H. Biggins, Warren, Pa.; Sec-. H. A. Biggins; Inter-State Public Service Co. in V. 95. p. 1745; V.96. v. 1157.
ORGAN IZATION.-Formerly the Indianapolis Greenwood & Franklin
Treas., Sam Q.Smith.-V.95, p.49, 1474; V.97, p. 1428; V.99,D. 1750.
RR.. which company was incorporated in Indiana in 1895. Name changed
as above in Jan. 1903. In Sept. 1912increased its auth.stock to $1.840.000.
COLORADO SPRINGS, COL.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Stock, $1,840,000
$1,840,000 See text
COLORADO SPRINGS & INTERURBAN RY.
Firi,t mortgage. 31.000.0001 1903 5 g F-A
932,000 Feb 1 1923
ORGANIZATION.-Incorporated in Aug. 1902 as a consolidation of the
gold ($1,000)
c*tf(Int. at Commercial Trust Co., Phila., Trust.
the
and
Colorado
Ry.
Transit
Springs
Rapid
&
Suburban
Colorado Springs
Bends.-Cannot be called. $68,000 are reserved for eaten. and impta.
issued
$1,500,000
of which at not exceeding $15,000 per mile. See V.78. p.654; V.82,P. 1212.
The consolidated company has
stock,Trust Co.,
00,000 pref. Bonds($1,000.6. M.-13.. due Sept. 1932, Central
ROAD.-Operates 62.38 miles of track between Indianapolis. Franklin
N. Y.,trustee) auth.,*1,500.000: issued.$1,000,000; $500,000 reserved for and Columbus and Seymour,of which 3.86 miles belong to Ind. Trac.& Ter.
underlying bonds. Other information refused-"is a close corporation and Co. Standard gauze. 60-lb. T rail. Mostly private right-of-way. It
has neither stocks nor bonds on the market." Facts below relate solely to the connects with Indianapolis & Louisville Elec. By., thus forming a through
old Colorado Springs Rapid Transit Ry.
line from Indianapolis to Louisville.
OFFICE Rs.-Prea.. Wm.G. Irwin: V.-P.. L. I. Sweeney: Sec. & Treas.
Colorado Springs Rapid Transit Ry.
Interest. Outstanding. Maturity. IIugh Miller, all of Columbus, Ind.-V.86, p. 421; V. 95, p. 680.
STOCK & BONDS- Miles. Date,
Stock (par $100)-------$500,000 f.p.
338,000 See text.
1st M,31,000 each_ cpt 7% 1890 6 A-0
1891
6 g A-0
Cense! M. 81,000 each,127
COLUMBUS, OHIO.
162.000 Apr 1 1921
for 3500,000, gold-cvt
Central Trust Co., New York, Trustee.
COLUMBUS RAILWAY. POWER & LIGHT CO.
Interest is payable at hemical National Bank, New York City. *
limited
mortgage
to
Consolidated
$500,000 by cancellation of $250,000 of
ORGANIZATION.-Incorp. in Ohio Nov. 1913 to succeed the Columthe bonds; $338,000 reserved for 1st mtge. First mtge. bonds matured in bus Traction Co. (incorp. Dec. 26 1906 as successor to the Central Market
1910 but were not retired, and are held presumably by friends of the co.
St. Ry., sold under creditor's bill in Feb. 1906, subject to the $500,000
bonds) and took over the Columbas Ry. Co. and the Columbus Edison Co.
ROAD.-Owns 38 miles of track.
as per plan in V. 96, p. 1839. The leases between these two cos. and the
OFFICERS.-Pres.. D. H. Rice; V.-P.. W Lennox' S
Lloyd; Columbus Ry.& Lt. Co. were then canceled. The Columbus Lt., Ht. & P.
Sec.. W
Treas., C. S. Chamberitn.-V, 70.
75. 175. 328.
In*
Co. was acquired in Jan. 1915. See "Elec. By. Section" for Jan. 1915.
Owns and operates the city street railway system of Columbus and suburban lines to Marble Cliff and Westerville, and the commercial electric light
and power systems of the city and vicinity. Franchises for 20.84 miles
COLUMBIA, S. C.
of railway are perpetual; others expire in 1925 and 1926, except certain
COLUMBIA RAILWAY. GAS & ELECTRIC CO.
franchises covering 16.19 miles which expire from 1917 to 1919.
ORGANIZATION.-Does the entire street railway, electric lighting. county
The franchises provide for 8 tickets for 25 cents and universal transfers. Two
Duwer and gas business in Columbia, S.0.-Name changed from Columbia of
the lignt and power franchises are perpetual; others expire 1926 to 1928.
Light
&
Power
to
Ry.,
the
Street
above
Electric
on May 15 1911. V. 92,
In Jan. 1916 $3.500,000 1st ref. & ext. sinking fund bonds were sold to
p. 1374. Is a consolidation on July 1 1905 of the Columbia Electric St. By.: E. W.Clark & Co., Phila., and Kissel, Kinnicutt & Co., N. Y., to take up
Lt. & Pow. Co. and the Columbia Water Pow. Co. The first-mentioned $1,200,000 notes and $1,439,000 underlying liens on the power and light
Jan.
6
Caro.
1892
and
So.
was a consolidation of the Colum- properties, and provide for improvements, extensions, &c. V. 102. p. 521.
was organized in
bia Elec. & Suburban By. Co. and the Congaree Gas & Electric Co. AcIn March 1917 the Ohio P. U. Comm. auth. the co. to issue $508,200
quired the Columbia & Eau Claire Electric By. Owns all the stock and Series A pref. stock at par and $1,846,000 ext. & ref. M.5% bonds to reimLight
Co.,
which is also leased. Operates under burse the treasury for impts. made in 1916 and for new extensions (prinbonds of the Columbia Gas
of So. Caro.(which owns the city streets). expiring cipally the construction of a new central generating station, costing aprights granted by State
Dec. 16 1941. Oasfranchises granted by State and city franchisee covering proximately $1,000,000). V. 104. p. 951. These amounts not included
all departments are without limit of time.
in table below.
In June 1912 acquired Parr Shoals Power Co.(stock $2,000,000 corn., all
STOCK AND 110NDS-- Date.
Interest. Outstanding. Maturit
owned, and $300.000 pref.), which on May 30 1914 placed in operation its Common,
$6,080,0.)0
$6.042,130 May'17.1
HOW hydro-electric station (present capacity 18,000 h.p.; ultimate capacity
pref stock $3,145.0004%
13,000 Apr'17. 1
30,000 h.p.) on the Broad River, near Alston, S. C., 27% miles northwest Priorpref.
$1,720.000
1.270.300 Apr'17. 1
of Columbia, supplying the requirements of the controlling co. (V. 95. P. "A"
"B" pref. $4,200.000
4.193,400 May'17.1 X
1122; V. 98, p. 154, 1844.)
1st ref & ext sink td M 325.4 1915 5 g A-0
3,500.000 Oct" 1 1940
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
000.000 g ($1,000)__c*tf Interest in New York. Phila. or Columbus.
Common.$2,000,000 (11100)$2,000,000
Girard Trust Co., Phila. Trustee.
I.
Q-J
Pref.. $1,000,000. 6% cum.
831.600 Apr.'17, 1A Cent Mar 1st mtge.S500.000,1 1902
5 g J-J
372.000 Jan 1 1922
($100)
gold ($1.000)
c*_ntf Interest at N. Y. Trust Co., N. Y. Trustee.
First ($1.000)2,685,000
mortgage. g7,690.000, 1911
5J-J
July 1 1936 Col St By 1st, $3.000.000, 1892 5 g J-J
3.000.000
July 1 1932
co.'s
gold
office or at Chemical Nat. Bk.,
c* tf Int. at
c* ntfi Int.atco.'s office &E.W.Clark & Co., Phila.
gold ($1,000)
N, y. Columbia Trust Co., N. Y.. Trustee.
(Columbia-Knick. Trust Co., N.Y., Trustee.
Parr Shoals P pfd stk $300.00 ---7%
800.000
Crosstown 1st mtge. gold. 1893 5 g J-D
572,000 June 1 1933
Parr Shoals P 1st mtge, $3,-i 1912 5 g A-0
3,000.000 Apr 1 1952
c* ntf Columbia-Kniek. Trust Co.. N. Y., Trustee.
($1,000)
000,000 ($1.000), gold esti' Columbia Trust Co..Trustee.
Col Ry 1st consol mtge. $7.- 1899 4 Q-J
3.132,000 Oct 1 1939
Col Canal co mtg. $200.000t
200.000 See text.
000.000 ($1.000). g. c*.ntf Interest at Union Savings Bank & Trust Co.
Bonds.-Of the outstanding first mtge. onds of 1911,$60,000 are deposiBonds are redeemable since
of Cincinhati, Trustee, at E. W. Clark &
ted to guar. int. on Canal Co.6s. Of unissued bonds,$200,000 are reserved
Oct 1 1914 at 105 and hit. Co.. Philadelphia, or at company's office.
Canal
Co.
for
retire
$4,497,000
bonds and
to
improvements, additions, ac4% stock is issuable only in exchange for the
-The
prior
pref.
Stock.
quisitions, ace., under certain restrictions. Bonds are subject to call on any $3.145.000 Columbus Ry. Co. 4% bonds and is exchangeable any time
int. date at 105 and int. Since July 1 1912 an amount equal to 1% of bonds prior to Oct. 1 1924 into 1st ref. and ext. sink. fd. 5% bonds on the basis
out must be expended for impts., &c., against which no bonds may there- of $850 of bonds for $1,000 of stock. As of Jan. 1 1917 $13,000 stock had
after be issued, and since Dec. 15 1915 a frfrther 1% for retirement of been issued in exchange for Columbus Ry. bonds.
bonds. See V. 93,ja. 229. Columbia Canal Co. bonds mature $100,000
Bonds.-Of the 1st ref. & ext. sinking fund bonds,16.659.100 are reserved
Jan. 1 1918 and $100,000 Jan. 1 1919. Parr Shoals Power bonds are guar.. for underlying liens, $41,900 are in treasury and the balance are reserved for
p. & I., by end., by the Columbia By., Gas & Elec. Co. Sinking fund of Improvements, extensions, &c.. at85% ofcash costorfair valuation, whichsemi-annually
of
1918
to
bonds out from
Jan. 1 1952, incl. They ever is less, under conservative restrictions. Callable at 105 and int. on
A of 1%
are subj. to call at 105 & int. on 60 days' notice. Int. payable in N. Y.
int. date on 60 days' notice. Penn. State tax refunded on 60d
be:gt;
Dividends.-F1rst div. on pref.-3%-paid July 1 1906; Jan. 1907, 3%. any
notice. Sinking fund of 1% per annum of bonds outstanding
when
1911,
accrued dim were paid up in full; 1%% paid Oct. 1 1920. The Central Market bonds are redeemable
None to July
at
any
time
at
quar. since to and including Apr. 1917.
110 and int. on 60 days' notice. Sinking fund of 5% of gross earnings
EARNINGS.-For calendar years:
began in 1907. $128,000 held in sinking fund. The Crosstown St. Ry.
Year-Gross.
Interest.
Pre. Divs. Surplus. mtge. was for $2,000,000 but was closed at $572,000. Int. payable 86
94
$284,580
1916
$9T8o,s2s.
$153,644
149,896
$81,040 Columbus and E. W. Clark & Co., Phila. Columbus By. Co. mtge. has
841,560
244.863
1915
153,823
49,896
41,144 been closed. 83,428,000 bonds were issued thereunder, of which $283,000
* After deducting operating expenses, taxes, int. on Parr Shoals bonds were canceled. $13,000 has been exchanged for 4% prior pref. stock to
Jan. 1 1917.
and diva. on Parr Shoals pref. stock.
Dividends.-An initial div. of 134% was paid on the Series"A" pref. stock
ROAD.-Operates 25.15 miles of track; 50 cars. Owns 2 power plants
April 11914; same rate quar.since to and incl. Apr. 1917. On Series "B"
with a total capacity of about 18,000 h. p.
Initial div. of 1 % paid in May 1914 and same rate quar. since to and
OFFICERS.-Pres.and Treas.. E. W.Robertson; 1st V.-P., Henry Par- incl. May 1917. On prior pref. initial div. of 1% was paid in Oct. 1915,•
sons; Sec., R. Charlton Wright; Gen. Mg.r., A. L. Kenyon.-V. 98, p. same rate quar. since to and incl. Apr. 1917. On
common, initial div. of
155, 1070, 1844; V. 101. p. 1370; V. 102.V. 975, 1060, 1625; V. 104, p. 1489. 1 % was paid in May 1914 and same rate quar. since to and incl. May 1917.




32

ELECTRIC RAILWAYS

[VOL. 104

Bonds.-The gen. and ref. mtge, was originally for $12000,000 but auth
•
REPORT.-For year ending Dec. 31(1916 report in V. 104, p. 4470
amount has been reduced to $10,000.000. Of the remaining bonds $250.1913.
1914.
1915.
1916.
Revenue passengers_ _ _ _ 66,650,414 61,062,066 62,837,925 63,383,422 000 are treas, bonds deposited with trustee and are available for extens. &
Transfer passengers__ _ _ 15,924,643 15,154,460 16,111,634 16,177,218 impts. when net earns, are equal to 13-§ times int. charges on bonds out
and to be issued; $1,250,000 are held to retire the underlying liens given
Total passengers
82,575,057 76,216,526 78,949,559 79,560,640 in table above. The remaining $2,100,000 are reserved for future betterKilowatt hours sold_ _ _ _ 40,772,239 31,020,852 27,471,961 23,986,482 ments, Improvements and extensions, and can only be issued as follows:
16,039 $1,100,000 when net income is equal to IN times int. charges on all bonds,
18,603
25,081
21,257
Number of customers_ _ _
Railway oper. revenues.. $2,248,918 $2,039,383 .2,086,269 $2,109,269 including those to be issued, and $1,000,000 when net is equal to twice int.
894,185 charges, incl. int. on bonds to be issued. These bonds are subject to call in
980,030
1,073,792
Power, light, heat, &c.... 1,288,482
whole, but not in part, at 105 and int. The Columbus London & SpringTotal gross revenues.. $3,537,400 $3,113,175 $3,066,299 $3,003,454 field bonds may be called at 110 and int. A sinking fund on these bondNet,after taxes
$1,432,275 $1,266,738 $1,179,553 $1,063,934 of 5% of gross earnings began with year ending Sept 30 1906. See V. 71.
$492,439 p. 963. 3168,000 in sink. fund Dec. 311916. The Day. Springfield & Ur$479,461
Interest, &c
$476,281
$516,373
$435,908 bana bonds are subj. to call at 110 and int. A sink,fund of 5% of gross
$40,978
Divs. paid as rentals.._ _
earnings began in 1903. 3158,000 in sinking fund Dec. 311918.
Prior pref. stock (4%)
520
45,000
Pref. divs. Series "A"_ _
76,218
75,978
ROAD.--Columbus to Orient, Columbus through Springfield to Day199,145
209,145
Pref. divs. Series "B".. _
209,170
ton, Dayton to Union City and Richmond, Ind.. Springfield to Lima,
302,106
Common dividends(5%)
302,106
300,765
through Lima to Defiance.0. Total miles of track (electric) owned,277.15;
$112,863
$135,587 leased. 139.87; total. 417.02. Standard gauge. 5 power houses. 231 cars.
Bal.for renew.,depr.,&c. $329,229
$203,228
OFFICERS.-Pres., Dana Stevens; V.-P., J. H. Sundmaker; Sec. and
ROAD,&C.-147.36 miles single track, including 14.21 miles operated
under contract. 428 passenger, 3 freight and 56 other cars. 5 steam Treas., F. A. Healy; Asst. Sec. & Asst. Treas.. J. M. Pogue.-V. 85. p.
power stations with 25,815 k. w. capacity.
600; V.86, p. 721; V.87.p. 37.
OFFICERS.-Pres.. Samuel G. McMeen: Vice-Pr., Gen. Mgr.& Treas..
(a) Dayton & Western Traction.-Trolley road.
E. K. Stewart; Vice-Pros., Norman McD. Crawford; Sec. and Aud., P. V.
Burlington; Asst. Sec. & Asst. Aud., Herbert M. Burlington. Managed by
-Incorporated on June 26 1898. Was leased on June
E. W. Clark & Co. Mgt. Corp.-V. 101, p. 533, 923; V. 102, p. 521; V. 103, 15ORGANIZATION.
1906 to Ind. Colum.& East.(V.82. p. 1437). For terms, see below.
13• 490; V. 104, p..361, 447, 862, 951.
Favorable Tax Decision.-See remarks under Cincinnati Street By.
OHIO ELECTRIC RAILWAY CO
Div. Period. Outstand'g. Last Dividend.
STOOKORGANIZATION.-Incorp. May 16 1907 in Ohio. On Aug. 31 1907 Common,$900,000 ($100)
$672,500
See text.
Q-J
purchased the Lima & Toledo Traction Co., which owned the line from Lima Prof. $850,000 ($100) 5% cum
See text.
850,000
Q-M
to Toledo, and leased the Lima Elec. Ry. & Lt. Co. (this co. being pur-Lease taking effect June 15 1906 provided for 5% per annum
.chased on Dec. 31 1909). which operates in the city of Lima, and the Ft. onDividends.
and
1907.
5%
in
1908
and
pref.
stock
on
coin.
stock
in
1906
and
5%
Wayne Van Wert & Lima Tree., with a line from Lima. 0., to Ft. Wayne,
thereafter, but under modified lease dated Feb. 7 1916 the payment on
Ind. Also acquired by lease the Indiana Col. & East. Trac., which corn' 6%
the corn. stock was reduced to 3%. Earnings in excess of the required
pony assigned to it the leases of Col. Newark & Zanesville Elec. By. and rental
payments and $10,000 per annum for additions and betterments are
Dayton & Western Trac. On Feb. 1 1908 purchased the Cinc. Northern
be paid to the common stockholders up to an additional 3% per ann. for
Trac. (subsequently dissolved) and acquired from that company its lease to
Beginning with the 6th year, the operating company is enyears.
1st
5
Toledo
Traction.
of Cinc. Day.&
earned, before paying the additional 3% on the corn.
Including city lines in Zanesville, Newark, Lima, Hamilton and other titled to receive, ifannum
as compensation for operations. As part of the
points, operating mileage is 613.45 miles. extending from Zanesville on stock, $10,000 per
Ohio
Electric By.surrendered $75,000 Dayt. & W.corn,stk.
agreement,
the
the east via Newark to Columous (including line from Columbus to Orient
and Buckeye Lake and Newark to Granville branches). thence ;through
ROAD.-Dayton. 0.. to Richmond. Ind., with branch from New WestSpringfield to Dayton,and from Dayton to Union City, where connection is ville to New Paris, 39.54 miles. At Richmond connection Is made with
made with Union Trac. Co. of Indiana for Muncie, Anderson and Indianap- Terre Haute Ind. & East. Trac., making possible the operation of through
olis, Ind., and from Dayton to Richmond, Ind., where connection is made cars from Indianapolis, via Dayton, to Columbus, a distance of 194 miles.
with T. H.I. & E. Trac.to Indianapolis, extending north from Springfield
OFFICERS.-Pres. and Treas., Valentine Winters; V.-P., F. A. Funkthrough Urbana and Bellefontaine to Lima, and from Lima to Defiance; to
Toledo,0.,and Ft. Wayne.Ind.; also from Dayton to Cincinnati, including houser; Sec., Henry Loy: Asst. Sec. & Treas., G. A. Funkhouser Jr., all
Germantown, Mt. Healthy and College Hill branches. Electric light and of Dayton. V. 82, p. 1437; V.83, p. 36, 94, 379.
power business is conducted in cities of Zanesville. Lima and West Alexandria and steam-heating plant in Lima.
(b) Columbus Newark & Zanesville Electric Ry.Co.-A trolley road
In May 1913 was granted authority to issue $3,500,000 2d mtge. bonds,
ORGANIZATION.-Incorporated in Ohio on July 2 1902, and in April
provided $5,000,000 of outstanding stock was retired. This was accord- 1904 absorbed the Newark & Granville Street By. In June 1906 acquired
ingly done. V. 96. p. 1365. 1840: V. 97, p. 299.
the
Columbus Buckeye Lake & Newark Traction Co., the preferred shareDefault in Rental, &c.-See Cin. Dayt. & Tol. Trac. Co. below.
holders being given $500,000 in pref. stock for their holdings. Also took
STOCK AND BONDSDate. Interest. Outstanding. Maturity. over the Zanesv. By. Light & Power Co. and was then leased on June 23
$8,000,000
'Common,$8,000,000 ($100)1906 to the Indiana Colum. & East. Trac. Co. for length of franchise and
Preferred,$6,000,0005% non
renewals thereof. Rental Is interest on bonds, an amount equal to 6% on
3,000,000 See text.
cum ($100)
the preferred stock and $500 for organization expenses. V. 83, p. 625.
4,200,000 Jan 1 1930 Private right of way from Newark to Zanesville; franchises on other lines
1st & ref. mtge. $15,000,000 1910 5 g J-J
c* 'Int. at Fidelity Trust Co.. Phila., Trustee. expire 1925 to 1928. Entire common stock is owned by Ohio Elec. By. Co.
gold ($1.000)
2,497,200 June 1 1941
2nd & gen mtge 35,000,000, 1913 5 g J-D
Favorable Tax Decision.-See remarks under Cincinnati Street By.
Trust o., Phila., Trustee.
gold ($100 ($500)($1,000), Int. at FidelityC
56.000 See text.
Equip notes Series A' $160,- 1910 5 g JDate, Interest. Outstanding. Maturity,
STOCK AND BONDS31,525,000
_a* Int. at Fidelity Trust Co., Phila., Trustee. Common.$1,525,000 ($100)_
000 gold ($1,000)
Equip notes Series "B"$130,- 1911 5 g J-J
58,000 See text.
500,000 See text.
6 Q-J
Pf,6% cum.$500,000 ($100)_
0100 gold ($1,000)
c* Int. at Fidelity Trust Co.. Phila., Trustee. 1st mtge, $2,000,000. gold 1904 5 g M-S
1.250,000 Mch 1 1924
Equip notes Series "0,120,- 1912 5 g J-D
66,000 See text.
c* Int. at Columbia Tr. Co., N. Y., trustee.
($1,000)
_c* Int. at Fidelity Trust Co.. Phila.. Trustee. Gen & ref mtge, gold, $6,- 1906 5 g M-N
1,211,000 May 1 1926
000 gold ($1,000)
5 g M-S
Equip notes Series"D"3100,-i 1914
70.000 See text.
c* Int. at Girard Trust Co., Phila., Trustee.
250,000 (31,000)
lInt, at Fidelity Trust Co.. Phila., Trustee.
1,243,000 Nov 1 1921
000 gold ($1,000)
B L & N 1st mtge. 31,500,- 1901 5 g M-N
Stock.-Preferred is red. at 10.5 on 30 days' notice.
c* Int. at Columbia Tr. Co., N. Y.. trustee.
000.gold ($1,000)
Bonds.-33.250,000 1st & ref. bonds are reserved to retire prior liens Zanesville By, Lt & Pow 1st{ 1902 5 g M-S
750,000 Mar 1 1924
($1,250,000 bonds of Lima El. By. & Lt. Co. and $2,1300,000 bonds of
cons mortgage. $1,000.000 Int. at Cent. Tr.& S.D.Co.,°Inc., Trustee.
Ft. Wayne Van Wert & Lima Trac. Co.) and $7.550,000 for additions,
or Trust Co. of America, New York.
($500, $1,000). gold___..c*
Entire issue is subject to call on any interest day
betterments. &c.
Registrar, Guardian Trust & Safe Deposit Co., Zanesville, Ohio,
No sinking fund.
The Zanesv Elec 1st mtge, $300,-{ 1899 4 g 10-A
at 105 and interest on 60 days' notice.
250,000 Feb 1 1919
2nd & gen. mtge,issue is subj. to call on any int. date for payment in cash
000, gold, subject to call Interest at International Trust Co.. Boston,
or for substitution of 1st & ref. mtge. bonds of 1910 exchangeable at par
Trustee.
after 1903. 31.000 each__c
on 8 weeks' notice. Bonds to be delivered for purposes of impts., as apBonds.-Of the $6,250,000 gen. & ref. bonds, $3,493,000 are reserved to
proved by Public Service Commission of Ohio or other governmental retire
prior liens and 31,546,000 for betterments and extensions. They are
authority. No sic. fd. Mortgage covers r.II properties and leasehold subject
to call after 5 years at 105 and int. Under terms of this mtge., none
estate, subj. to underlying lien. Series "A" emi. notes mature 38.000 of the $750,000
1st mtge. bonds unissued can now be issued. The entire
semi-ann. commencing Jan. 1 1911. Series B' equip. notes are 1st issue of Col. New.
& Zanesv. 1st 5s can be called at 110 and int. on any int.
mtge.on 26 cars. They mature semi-ann.($7,000 Jan. I. and $6,000 July 1) date. V. 80, p. 1234.
The Col. Buck. L. & New. bonds are subject to
are
guar.,
incl.
All
issues
of
equip.
notes
from Jan. 1 1912 to July 11921,
at 110 and int. on 3 months' notice. Zanesville By.,
call
on
any
int.
date
p. & L. by end. of Ohio Elec. Ry. Series "C" equip. notes are 1st mtge. Lt. & Power bonds fell
due Oct. 1 1912 but were extended to Mar. 1 1924.
on 43 cars and mature $6,000 semi-ann. beginning Dec. 1 1912. Series"D" 3250.000
reserved to retire underlying bonds.
equip. notes mature $5.000 semi-annually beginning Sept. 1 1914.
ROAD.-Operates 95.85 miles of track from Columbus to Zanesville,
EARNINGS.-For cal. year 1916, gross from railway, $3,721,059; light
and power, $109,426; misc., $18,433; total, $4,148,918; net, after taxes, Including the city lines in Zanesville, Newark and Granville and a branch
$1.595,533. In 1915, gross from railway, $3,338,936; light and pr,wer, to Buckeye Lake. Operates lighting and power plants in Zanesville.
Standard gauge; 60 and 70-lb. T rail and 90-113. girder. Also owns amuse$364,848; misc., $13,873; total, $3,717,657 ;net, after taxes, $1,379,822.
park on Buckeye Lake. Owns and operates its Hebron power plant
OFFICERS.-President, W. Kesley Schoepf; V.-P., Dana Stevens; ment
with its own natural gas.
Secretary and Treasurer, F. A. Healy; General Manager, A. Benham:
OFFICERS.-Pres., Dana Stevens; V.-P., J. H. Sundmaker; Sec. and
Gen. offices, Interurban Bldg., Springfield, Ohio. V. 96, p. 1365, 1557,
Treas.. F. A. Healy.-V.87. p. 37; V. 95, p. 47, 890. 1039.
1840; V. 97, p. 299; V. 98, p. 690; V 102, p. 801; V. 103, p. 1593.
(1) Columbus interurban Terminal Co.
(3) Lima Electric Railway & Light.-A trolley road.
Entire stock owned by Ohio Elec. By.. which guar. bonds.
Acquired by purchase by Ohio Electric By. Dec. 31 1909.
ORGANIZATION.-Incorp. In Ohio on May 24 1910. Owns and
ORGANIZATION.-The company is a consolidation completed Aug. 1
operates since Jan. 1 1912 passenger and freight terminal stations in Columb.
of the Lima Ry. (incorporated Nov. 5 1896) and the Lima Electric
1900
anding. Maturity.
t
STOCK AND BOLight & Power Co. Was leased July 1 1905 to the Lima & Toledo Traction,
Stock $10,000 ($100)------- -------------------$1,000
By. Aug. 311907.
433,000 Juno 1 1935 which lease was assigned to Ohio Electric
First mtge 31,000.000 gold' 1910 5 g J-D
c*lint. at Cit. Tr.& Say. Bk.,Columbus,Trust,
($500) guar p & I
Interest. Outstanding, Maturity.
STOCK AND BONDS- Date.
$5.00
Bonds.-RemalnIng bonds reserved for acquisition of additional real Stock. $5,000 ($100)
5 g J-D
5,000 June 1 1917
Lima Elec Lt & Power gold. 1900
estate, additions, trapts., &c. Not subject to call.
Cleve., Trustee.
at
Int.
Cleveland
Co.,
Trust
-c*
($1.000)
M.
385.000
1st
OFFICERS.-Pres., Dana Stevens; V.-P., J. H. Sundmaker; Secretary
350,000 Apr 1 1925
5 g A-0
2d consol mortgage,3850,000, 1902
& Treas., F. A. Healy.-V.92. p. 1564; V.93, p. 1532. 1599.
c* Int. at Fidelity Trust Co.. Buffalo, Trustee.
gold ($1,000)
895,000 Sept 1 1925
(2) The Indiana Columbus Se Eastern Traction Co.-A trolley road. Lima Elec Ry & Light. ref 1905
5 g M-S
Leased to the Ohio Electric By. Aug. 31 1907. Latter company guaran
mortgage. $1,250,000, gold Int. at Girard Tr. Co., Phila., Pa., Trustee.
tees interest on bonds and 5% divs. on pref. stock and owns entire corn. stk.
electric-light
and heating
bonds
are
a
lien
on
the
Bonds.-The 2d consol.
ORGANIZATION.-Incorporated in Ohio on April 14 1906 and has ac- plant, as well as on the railway. Cannot be called before maturity. $356,quired the Dayton Springfield & Urbana Elec. By., the Columbus London 000 refunding bonds are reserved to retire prior liens.
& Springfield By., the Columbus Grove City & Southwestern Ry.. the
ROAD.-Owns 10.91 miles of track, also asteam-heating plant(franchise
Urbana Ittellefontaine & Northern By., the Springfield & Western Ry.. the
Dayton & Northern Traction Co. and about 12 miles of the Dayton & perpetual, operated in connection with the electric-lighting plant). ConMuncie Traction Co.. extending from Greenville to Union City on the tract ordinance for city lighting expires April 1919.
Indiana-Ohio State line. Has also acquired the Columbus & Lake Michigan
OFFICERS.-Pres., Dana Stevens; V.-Ps., J. IT. Sundmaker Sec. &
RR., a steam road operating between Lima and Defiance, which has been Treas.. F. A. Healy, Springfield, Ohlo.-V. 81. P. 155. 1100.
converted into electricity.
Leases the Dayton & Western Traction Co. and the Columbus Newark &
(4) Fort Wayne Van Wert 5c Urns Traction Co.-A trolley road.
Zanesville Elec. By,, which latter company had previously absorbed the
ORGANIZATION.-On Mar. 1 1906 was leased, until expiration of franColumbus Buckeye Lake & Newark Traction Co.and the Zanesville By. Lt.
& Power Co. These leases were assigned to the Ohio Elec. By. Aug.311907. chises and renewals thereof, to Lima & Toledo Traction Co., which guaranThe new general and refunding mortgage bonds were listed on the Phila- teed the interest. V.82. p. 691. Lease was assigned to Ohio Electric By.
delphia Stock Exchange in February 1907. V.84, p. 339. See descried°. Aug.311907. The latter company owns all the common stock. Incorporated in Indiana and Ohio. Road is entirely on private right-of-way excepof bonds, property. &c.. in V. 83. p. 37.
In towns, where it has 25 or 50-year franchises.
Favorable Tax Decision.-See remarks under Cincinnati Street By.
Favorable Tax Decision.-See remarks under Cincinnati Street By.
Date. Interest, Outstanding. Maturity.
STOOK AND BONDS$3,025,000
Common,33,025,000 ($100)
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
1,000,000 See text.
Preferred,$1,000,000($100)------5%
$1,000,000
$1,000,000 (3100)6,650.000 May 1 1926 Common,
Gen and ref mtge (see text) 1906 5 g M-N
1,000,000
_
n-c($100?
$1.000,000,
5%
Pref.
c* Int. at Pa.Co.for Ins.on L.&G.A.,Phila.,Trus.
gold ($1,000)
J-J
1,470,000 July 1 1930
gold 1905
500.000 Oct 1 1920 First mtge, $2,000,000.
Col Lon & Spg 1st mtge, 31.- 1900 5 g A-0
Fidelity Trust Co., Phila., Trustee
Int.
at
($1,000)
_--c*
guaranteed
Trustee.
Co.,
New
York,
Int.
at
N.
Y.
Trust
500,000, gold ($1,000)....c*
Bonds.-Of the $2,000,000 bonds, 3530,000 are reserved for extensions
'750.000 Nov 1 1928
Day Spg & Urb 1st mtge. 1898 5 g M-N
$750,000. gold ($1.000)___ Interest at N.Y. Trust Co., N. Y., Trustee. and improvements. V. 82. p. 691. Are not subject to call.




rg

ELECTRIC RAILWAYS

MAY, 1917.]

ROAD.-61.63 miles of electric track from Ft. Wayne via New Haven,
Monroeville. Van Wert, MiddlepoInt, Delphos and Blida to Lima. Comat Ft. Wayne with
menced complete operation Nov. 15 1905. Connectsthe
Ohio Elec. By,
the Ft. Wayne & Nor. Ind. Trac. and at Lima with
Dayton and
Toledo.
to
Wayne
Ft.
from
line
through
and forms part of
Columbus. Standard gauge. 70-lb. T rails.
OFFICERS.-Pres., Walter A. Draper; V.-P., J. H. Sundmaker; Sec.
and Treas., F. A. Healy.-V.82. p. 691, 804; V. 83, p. 37.
& Toledo Traction Co.-Trolley road.
(5) Cincinnati Dayton
Leased to the Ohio Electric By. Co.; see terms below.
ORGANIZATION.-Incorporated in Ohio on May 10 1902, and is a conNorthsolidation of the Southern Ohio Traction Co., the Cincinnati & Hamilwestern fly., the Miamisburg & Germantown Traction Co. and the
are
Franchises
74.
V.
1037.
Co.
884.
Trans.
Elec.
Lindenwald
&
ton
for 25 to 60 years.
Cincinnati
Northern
Traction
Co.
1905
1
May
the
to
leased
-Was
Lease.
for length of franchise and renewals thereof. Lease transferred to Ohio
Electric By. Co. Feb. 11908. After the Ohio floods in 1913 lease was on
June 23 1913, by agreement with Ohio Electric By.. modified (see V. 96,
p. 1656. 1839) to provide for payments as follows: (a) June 24 1913,$92,000:
(b) for years ending Juno 30, respectively; 1913-14, 3266,500; 1914-15,
$266,500; 1915-16, $276,500: 1916-17, $286,500: 1917-18. $296,500; 191819. $306,500; 1919-20, $316.500; 1920-21. $326,500; 1921-22, $346,500;
1922-23 and thereafter,$366.500 yearly. Divs. on any pref. stock that may
be issued beyond the $260,000 outstanding at time of agreement are to be in
addition to these payments. Lessee also to pay $1,000 per annum for
lessor's organization expenses and another $1,000 per annum to be invested
expenses. See remarks below.
by lessor to meet future
Under modified agreement of lease of June 23 1913 outstanding common
$2,000,000--the Obio.
stock was reduced in Nov. 1914 from 35.000.000 to'
Elec. By. surrendering the $1,000,000 held by it and the other shares
being exchanged two for one. V. 99. p. 1597.
Rental and Interest Defaulted.-The Ohio Electric By. having been unable
to moot the installment of rental due Dec. 24 1915 under the lease, the
int. duo Jan. 1 1916 on the $2.700,000 C. D. & T. 1st cons. 5s. $250.000
Dayton Trac. 1st 5s and $400,000 Cin. & Ham. Elec. 1st 6s was defaulted
(V. 10. p. 152). Subsequently the committee for the C. 13. & '1'. 1st
cons. 55 entered into an agreement by which the Ohio Electric By. paid
into a trust fund sufficient cash to pay the int. due Jan. 1 1916 on the Dayton Trac. 5s and the Gin. & Elam. Mee.6s,and the accrued int. on all underlying bonds up to Feb. 11916. The Ohio Elec. Ry. also agreed to deposit
monthly, beginning Feb. 1 1916, the earns, of the C. D. & T. less once.
expenses, making no charge for management. V. 102, p. 800. The Ohio
Electric By. Co. Is seeking an arrangement by which the rental would be
reduced.
Receivership.-On July 1 1916 former Judge Benton S. Oppenheimer was
ppointed receiver to collect the rentals payable by the Ohio Elec. By
103, p. 406.
Sale.-On Oct. 19 1916 Judge Geoghegan in the Court of Common Pleas
at Cincinnati ordered the sale of the property. Protest against the sale
was entered by a bondholder, who claimed that if the receiver would proceed to collect back rentals alleged to be duo from the Ohio Electric )Ty.
all debts could be paid and the receivership lifted. V. 103, p. 1592.
Committee for C. D. i T. 1st Cons. 53.-Leo J. Van Lahr, James M.
Hutton, Claude Ashbrook, Edgar Friedlander and Otto Armleder. Depositary, Provident Say. Bank & Trust Co., Cincinnati. For statement by
committee, see V. 102, p. 436. See also V. 102, P. 800.
Committee for Cinc. & Ham. Elec. 1st Os.-W.S. Hayden and B. V. Hale,
with Gardner Abbott, Sec., 1215 Williamson Bldg. Cleveland. Depositary, Citizens' Say. & Tr. Co., Cleveland. Committee has arranged to advance as a loan to depositing bondholders the amount of the unpaid coupons.
interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$2,000,000 See text.
J-J
Common, 32.000,000 ($100)J-J
250,000 See text.
cum($100)
5%
Pref,'3250,000,
5 g A-0
See text Oct 1 1944
Gin Day & Tol Tr gen Sz ref 1914
mtge $7,500,000 gold no slit Interest at Fidelity Trust Co., Philadelhia, trustee.
fund ($1.000)
5 g J-J
2,700,000 July 1 1922
Cincin Day & Tol 1st cons M
35,000,000. g ($1,000)c4 Interest at Cleveland Trust Co., Trustee.
5 g MN
1900
cons
I
1st
Trac
Ohio
1,350,000 May 1 1920
Southern
at
Int.
goldc*
Cleveland Trust Co., Trustee, or at
32.000.000 ($1,000),
Standard Trust Co.. New York.
6 g J-J
Cin & Harn Elec 1st g ($500) 1898
400,000 July 1 1918
Int. at Cit. Say. & Tr. Co., Clove., Trustee.
$500,000. not subj to call
5 g J-J
Dayton Traction 1st M. g 1896
250 000 May 1 1920
c* Int. at Finance Co of Penn., Phila., Trustee.
($1,000), Int guar
5 g .1D
-D
Ham & Lindenwald El Tran} 1901
250,000 July 1 1922
1st M 8 f $250,000. g (31,- Interest at Cleveland Trust Co., Trustee.
c*
000), int guar
5 g J-D
Warn & Germ 1st guar (350.-f 1001
50,000 July 1 1922
eslInterest at Cincinnati Trust Co., Trustee
000), gold ($1,000)
is
issues
to
subject
call except the gen. ref. 5s of 1914.
Bonds.-None of the
Of the $7,500,000 gen. & ref. 5s of 1914, $5,000,000 are reserved for prior
liens and the remaining $2,500.000 are held by the trustee for future impts.,
&c. None outstanding at present. Red. at par in whole or in part on any
int. date. V. 99 p. 1597. Of the $5,000,000 Gin. Day. & Tol. Trac.
to retire prior liens. See V. 81, p. 154.
issue, $2,300,000 is reserved Ohio
Traction bonds. $650,000 are reserved to
Of the $2,000,000 South. bonds
and Dayton Traction bonds. Issue
Electric
Ham.
retire Ctn. &
listed on Philadelphia, Stock Exchange. The Dayton Traction 5s matured
originally on July 11916. but were extended to May 1 1920.
The Ham. & Lind. Elec.'Fran. and Miarnisb. & Germ, bonds originally
fell due Dec. 1 1911. but arrangements were made at that time to extend
them to July 11922. V. 93, p. 1386, 1387. Annual sinking fund of 5% on
Ham.& Lind, bonds began Dec. 11906.increasing 1% each year up to 1911.
$52,000 in sinking fund Dec.31, 1916.
Dividends.-5% per annum paid on pref. stock up to and incl. July 1 1914
none since. On common, under modified lease, divs. were suspended unti
year beginning July 11915, when A % was to have been paid, this increasing
July 1 1921 (after a dividend rate of
3. % annually until the year beginning
had been reached), when the increase was to have been
per annum,
until 5% was reached in the year beginning jutY 1 1922.1%,o
N dividends
have been Paid, however, owing to default in rental by Ohio Electric BY
ROAD.-Owns 91.07 miles of electric track, connecting Cincinnati with
Dayton, incl. Germantown, Mt. Healthy and College 11111 branches; also
including the Hamilton City lines. Carries freight and express.
OFFICERS.-Pres., Theobald Feiss; V.-P.. 0. H. Rembold; V.-P.,
W. A. Draper; Sec. Sc Treas., F. A. Treaty; Asst. Soc. & Asst. Treas.,
D. J. Downing, all of Cincinnati.-V. 103, IL 60, 406. 1592.

p.

kir.

16)02

33

STOOK AND BONDS- Date,
Interest, Outstanding. Maturity
Common,$2,100,000 ($100)-$2.100,000
Prof"A,"6% cum.$500,000 _
500,000
Prof "13," 1-6% cum,$400,000
400.000
First cons mtge. $2.500,000,f 1904
5 g F-A
920,000 Aug 11944
gold ($500 & $1.000)____c*lInt. at Bankers' Trust Co., N. Y.. Trustee.
Receiver's notes
1913
80.000
Stock.-The prof. "A" and pref. "B" shares were created In 1908 (V. 86.
p. 1284), and dividends on both are cumulative: but those on the "B"
shares are entitled to only 1% the first year, with an additional 1% for each
year thereafter until 6% Is reached.
Bonds.-Of the new ref. mtge.. $1,580,000 aro reserved to retire the bonds
of the Col. Nor. By., P. & E. Co.. the Marion By., Lt. & P. Co. and the
0. D. & M. Elec. RR.
EARNINGS.-For year ending June 30:
Expenses.
Gross.
YearNet.
Int, & Tax. Surplus.
3490,305
$2,8,896
1915-16
$211,409
$159,563
351,846
295.335
479,710
184,375
1914-15
155,262
29.113
For year ending Dec. 31 1916, gross earnings were $535,329, against
$469,183 in 1915; net, $228,724, against $187,840.
OFFICERS.-Aud.for Receiver, W.H. Davidson: Pres.. 11.0. Ostrow;
Sec., E. II. Turner; Supt. for Receiver, J. II. Lahrmer.-V. 102, p. 1625,
1718; V. 103, p. 1687, 1792; V. 101, p. 361, 1898.
(1) Columbus Delaware & Marion Electric RR.
Interost,due Nov. 1 1912 was paid May 11913:subsequent coupons to and
incl. Nov. 1 1916 were paid 6 mos. after they matured.
Committee for 1st M.5s.-Rudolph Kleybolte. Chairman; Wm.R.Craven,
Frank C. Deering, Arthur B. Wells, Ed. E. Newman and John T. Tyler.
Offices, 18 E. 24th St.. Cincinnati, and Room 1304, 60 B'way, N. Y.
Depositary, Cleveland Trust Co. V. 103. p. 1687, 1792.
ORGANIZATION.-Incorporated In 1901.
Interest. Outstanding. Maturity.
Date.
BONDS31,000,000 May 1 1921
1st mort., 31,000,000, gold 1901
5g
c* Int. at Clm land Trust Co., Cleveland.
($1.000)
Trustee, or Nat. Bank of Comm. in N. Y.
Bonds.-See V. 75. p. 76.
ROAD.-Operates an electric railway (of which 33 miles over private
right of way) from Columbus to Marion, passing through Franklin, Delaware and Marion counties. ALso 4 miles in the City of Delaware,a total
of 57 miles. V. 80. p. 117; V. 91, p. 945; V 93.p. 1190.
(2) Columbus Northern RY. Power & Equipment Co.
ORGANIZATION.-Incorporated in Ohio on Oct. 21 1904 to erect a
power house at Delaware and sub-stations to supply electricity for power
and heat. Receiver of Col. Del. & Marion By. was authorized to borrow
money to pay interest due Sept. 1 1909. V. 89. p. 592. Interest since
then was paid to Sept. 1913. The March 1914 coupon and subsequent
coupons were paid 3 months after they matured.
Interest. Outstanding. Maturity.
Date.
BONDS1st mortgage, $300.000. gold' 1904
5 g M-S
$245.000 Sept 1 1934
clInt. at Guaranty Trust Co.. N. Y., Trustee,
(31.000)
(3) Marion Railway. Light & Power Co.
ORGANIZATION.-Incorporated in Ohio on June 21 1903 and is a
consolidation of the Marion Street Railway Co. and the Marion Electric
Light & Power Co. Jan. 1914 and subsequent coupons were paid six
months after they matured. July 1916 int, was paid Jan. 1 1917.
Interest, Outstanding. Maturity,
Date.
BONDS3300,000 July 1 1924
1st mtge. gold ($1,000)_01 1904
5g
'Int. at Guaranty Trust Co., N. Y., Trustee.
Bonds.-No sinking fund and bonds cannot be called.
ROAD.-4 miles of track in Marion. Standard gauge. 60 and 70-lb. rail.
COLUMBUS NEW ALBANY & JOHNSTOWN TRACTION CO.-A
trolley road.
ORGAN IZATION.-Incorporated in Ohio on May 4 1899. In May
1905 canceled old mtge. for $200.000 and made the new mortgage in table
below. V. 80. p. 2399. Franchises are for 25 years.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
00
0:800
00
20
$2
Common,$400,000 ($100)_
Preferred,6% cum. 3200,000
($100)
None. Jan 1 1925
First mtge, $450,000, gold 1905
5 g J-J
' ntf Prov. Say. Bank & Tr. Co., Cinc., Trustee.
($500 and 31,000)
REPORT.-For year ending Dec. 311916, gross, $44,129; net profits.
$13,328; taxes and misc., $3,843; net gain from operation, $9,485.
ROAD.-Operates 8.8 miles of track from Columbus to Gahanna, including perpetual lease of 2.7 miles of tracks of the Columbus .RN, as terminal;
gauge, 5 ft. 2 in.; 65-lb. T rail.-V.01,p. 1629; V. 92, p. 1032, 1498.
SCIOTO VALLEY TRACTION CO.-Third rail.
ORGANIZATION.-Incorporated in Ohio with a perpetual charter in
1904. Built on private right of way. Franchises extend beyond maturity .
of 1st mtge. bonds. In 1908 canceled 52.000.000 mtge. of 1903 and made
new mtge. for $4,000,000. which see below. Stockholders voted Sept. 22
1908. authorizing 3500.000 new 5% first preferred stock, which ranks
ahead of old preferred stock (V.87. p. 481 and 615).
In Apr. 1916 the Ohio 1'. U. Comm. auth. the issuance of the remaining
$200.000 5% 1st pref. stock to acquire the entire stock of the Columbus
Depot Co., which was incorporated in 1912 in the interest of the company
to build a terminal In Columbus. V. 102. p. 1626.
In Jan. 1917 the co. leased from the State of Ohio for 25 years at an annual
rental of $6,000 the bed of the old canal feeder from the Lockbourne Road
to Main St., about 11 miles, for a new entrance into Columbus.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,800,000 mar.
Common. 31,800,000 (51001_
500.000
17, 13i
1st prof, 3500,000,5% cum-1.200,000 Mar'17. 131
P110(11,200,000, 5% curnI

5 M-S
1,536,000 Sept 1 1923
1st mortl, 34.000.000. gold' 1908
c*tflInt. at Harris Tr. & Say. Bk..Chic.. Trustee.
0
.
B01n10
(3
Additional 1st M. bonds can only be issued for 75% of cash expermanent
extensions and additions to property, and
penditures, and for
only when not earnings are twice the int. charge on outstanding bonds and
those to be issued. I3onds have a sinking fund of 1% per ann. on bonds out
1913 to 1917; thereafter 2% per ann. 364,000 have been retired. They are
not subject to call. See particulars, bonds, property, &c., in V. 87. p. 679.
Dividends.-Dividends on old issue of pref. stock were to accrue from
Oct. 11905, but amounts due Jan. 11908 and April 1 1906 were relinquished
by shareholders, and let div.(13%) was paid July 1906 and 13i% Oct.
1906 (V. 82, p. 1440); in 1907 and since, 5% per annum.
EARNINGS.-For 12 months ending Juno 30:
37
6113m
re
Int. & Tax. P
Net.
.Dies. Surplus.
Gross.
Year5
1:69 74
986
$10
1915-16 ____$474.453
$213.801
76,000
35
$2
195,111
6
30
44
1.'4
1914-15 ____ 463,151
ROAD.-Operates 72 miles of track from Columbus to Lancaster and
MARION
&
DELAWARE
-.A
RV.
by
holding
operated
Is
third-rail
Standard
company.
Chillicothe.
system.
to
Columbus
COLUMBUS
from
Receivership-Sale.-Appointment of Ell M. West a.s receiver was gauge, 70-lb. T rail. Within city limits of Columbus, company operates
affirmed by the Circuit Court at Columbus in all respects. The property over tracks of Columbus By., Pow. & Lt. Co. under oper. agreement.
is advertised to be used at public auction at Columbus, 0., on Juno 11
OFFICERS.-Pres. and Mgr., Frank A. Davis; V.-Pres. and Treas.,
1917; upset price, $250,000, subject to underlying mortgages.-V. 104. Edwin It. Sharp; Sec., A. C. Moorhaus, Supt., C. Skinner.-V.87, p. 481
P. 1898.
679; V. 91, p. 871; V. 102, p. 1437, 1626. •
615,
Coupons duo Aug. 1912 to Feb. 1916, inclusive, were paid six months
after they matured. The Aug. 1916 coupon is in default. V. 104, p. 361.
CONCORD, N. H.
Committee.for 1st Cons. 55.-William C. Cox, Chairman; AquIlla Q. Jones,
Robert W. Bingham, Gerhard M. Dahl and William S. Thomas; SM.,
CONCORD STREET RA ILWAY.-A trolley road extending from the
J. I. Burke, 140 Broadway, N. Y. C. Depositary, Guaranty Trust Co.. central wards of Concord to Penacook. Comprised 12.71 miles of track.
N. Y. V. 103, p. 1687, 1792.
In June 1001 control passed to the Boston & Maine RR., and in 1903 the
Personal Judgment.-On May 13 1912 the Court of Common Pleas of New Hampshire Legislature authorized the Concord & Montreal RR.,
is leased to the Boston & Maine, to purchase the property and to
which
Mar.
23
Green Co. gave a Judgment (affirmed
1915 by Ohio Supreme Court
-V. 100, p. 1078) to Receiver West against John G. Webb for $1,055.931 issue stock and bonds to pay therefor.
as balance duo in suit brought for an accounting. V. 94, p. 1448.
On July 3 1915 Judge Kinkead refused to authorize the issuance of $150,COOPERSTOWN, N. Y.
000 receiver's certificates to take up receiver's notes, bring deferred bond
int. up to due date and pay the preferred claims against the company.
SOUTHERN NEW YORK POWER & RAILWAY CORPORATION.
ORGANIZATION.-Incorp. in July 1909 as the Otsego & Herkimer
ORGANIZATION.-Incorporated in Ohio in Oct. 1904 and owns the
entire capital stocks of the Columbus Delaware & Marion Electric RR.(151,- RR., succeeding the Oneonta & Mohawk Valley RR. (V. 89, p. 411),
000,000). the Marion By., Lt. & Power Co.($300,000) and the Columbus Name changed to above in July 1916. Stock issued, $547.000. Bonds.
50-year 5% (tf); dated 1912; auth., $2,500,000 outstanding. $1,200.000.
Northern By., Power & Equipment Co.($300.000).




34

ELECTRIC RAILWAYS

Financing.-In Oct. 1916 the P.S. Comm.approved a plan of refinancing
and reorganization through which the company is to acquire control of the
Colliers Light. Heat & Power Co., Deposit Electric Co., Hartwick Power
Co. and Southern New York Power Co., and authorized the issue of (a)
$200.000 stock and $500,000 bonds to take up the securities of the smaller
companies, and (6) $1,200,000 5% 1st M. bonds to refund, if It desires to
do so, the $1,200,000 outstanding Otsego & Herkimer RR. bonds. As of
May 15 1917 these securities had not been issued. On May 8 1917 filed a
certificate increasing the auth. capital stock from $1,500,000 to $2,500,000.
EARNINGS.-For year ending Dec. 31 1916, gross, $262,533; net, after
taxes, $77,996. In 1915, gross, $269,402; net, after taxes, $79,796.
ROAD.-Operates 62.04 miles main and 4.63 miles second track between
Oneonta, Cooperstown, Richfield Springs and Mohawk, from which point
It operates over the N.Y. State Rye. to Utica, 15.10 miles and to Herkimer,
1.40 miles. Total operated, 83.17 miles. Rails 60 to 90 lbs.; 22 passenger
and 21 freight cars; 1 locomotive; 16 service cars.
OFFICERS.-Pres., Jos. B. Mayer; V.-P. & Gen. Mgr.. C. L. Stone:
Sec., James L. De Rosset.-V. 102, p. 1812; V. 104, p. 1900.

CORNING, N. Y.
CORNING & PAINTED POST STREET RY.-A trolley road.
ORGANIZATION.-Incorporated Dec. 11, 1894. Commenced operation Nov. 11895. Control changed hands in 1904. V. 80. p. 162.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock,$100,000($100)
$100,000 1905-06,4%
let mortgage. $100.000
1896 5 J-J
100,000 Jan 1 1936
bonds
The
fell due originally in 1916 but were extended for 20 years.
EARNINGS.-For year ending June 30 1916, gross, $61,081; net, after
taxes, $823; other income, $679; int., rents, &c., $10.220; deficit, $8,718.
ROAD.-Owns 5.9 miles of track from Corning to Painted Post; 19 cars.
OFFICERS.-Pres., J. L. Greatsinger, Elmira, N. Y.; V.-P., David
Boman;Sec., J. E. Packer, New York; Treas., D. W.Bigoney, New York;
Compt.. C. P. Crawford, New York.-V. 80, p. 62.

CORTLAND, N. Y.
CORTLAND COUNTY TRACTION.-Trolley.
ORGANIZATION.-Is a reorganization on June 22 1901 of the Cortland
& Homer Traction, sold at foreclosure on Apr. 23 1901. In June 1905 absorbed the Cortland & Homer Electric Co., previously controlled. Furnishes light to the cities of Homer and Cortland and to the public. Carries
coal and freight as well as passengers.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, coin, $320,000 ($100)$320,000
1901
4 g A-0
180,000 April 1 1921
First mtge. $180,000 (3500).1
C ounty Say. Bk. & Tr. Co., Scranton, Pa.,
gold
c* 'Fr:Wee. Int. at co.'s office. No sink. fd.
Can be called on 6 months' notice.
New mortgage, $500,000. g 1905 5 g F-A
320,000 Aug 1 1935
c Interest at Empire Tr. Co., N. Y. Trustee.
($500 and $1,000)
ist&refmtge,$2,0O0.000__ 1907 5 J-D
105,000 June 1 1957
Int. at Equitable Tr. Co., N. Y., Trustee.
Bonds.-Of the $500.000 issue of 1905, $180,000 are reserved to retire
prior liens. They are subject to call at 105.
ROAD.-Operates 16.18 miles of track (not including sidings and turnouts) between Cortland, Homer, Little York and Preble. and between
Cortland and McGrawville. Has 33 cars.
EARNINGS.-For fiscal year ending June 30 1916, gross, $88,055; net,
after taxes, $27,340; other income, $35,186; bond, &c., interest, $29,172;
surplus, $33,354.
OFFICERS.-Pres.. Edwin Duffey; V.-Ps., D. W. Van.Iroesen and
E. H.Brewer; Sec., H.A. Dickensen; Treas. & Gen. Mgr., G. H. Garrison.
-V. 81. p. 507.

COVINGTON, KY.
CINCINNATI NEWPORT & COVINGTON LIGHT & TRACTION
CO.-A trolley road.
ORGANIZATION.-Incorporated under the laws of New Jersey on
March 11 1902 and purchased all the stock of the Union Light, Heat &
Power Co. of Covington and of the Cincinnati Newport & Covington Railway. V. 74, p. 576. The latter was organized in 1892 to buy up and consolidate all the roads on the Kentucky side of the river opposite Cincinnati.
Lease.-The Union Lt.. Ht. & Power Co. and the Cinc. Newp. & Coy.
Ry.(both controlled through stock ownership by the Cinc. Newp. & Coy.
Lt. & Tr.) were leased from Apr. 1 1907 to Columbia Gas & Electric Co.
(incorporated in Ohio) for 45 years. The lessee guarantees interest on
bonds and 434% per annum on preferred stock. On common, dividends are
to be 3% for first year,increasing 34% each year until 6% is reached, which
is to be the rate thereafter. See V. 84. p. 449. 930; also terms in V. 84. p.
1489, under Columbia Gas & Electric. Under agreement ratified in July
1915 for refunding of Union Lt., Ht. & P. Co.'s 4% bonds, the exts. and
add'ns to that company's property are to be paid for by the issue of now
50-year 5% bonds (see below) instead of by sale of stock of the Cincinnati
company as provided under the old agreement. V. 101. P• 694.
The controlled Cincinnati Covington & Erlanger St. Ry., which was In.
corp. Sept. 1899 with $250,000 stock (shares $50), to build an extension to
Erlanger, 794 miles (about 3 miles completed) has also been leased to the
Columbia Gas & Electric.
In 1914 tho Licking River Bridge Co. issued $185,000 1st M. bonds to
cover cost of the 11th St. bridge between Covington and Newport, which
was completed April 1 1915.
Franchise Decisions.-On Oct. 19 1914 and Nov. 17 1915 Judge Cochran
In the U. S. District Court held that the franchise granted by the City
of Covington in 1882 to the South Covington & Cincinnati Street Ry.
was in effect perpetual. See V. 99, p. 1214. On Jan. 5 1915 the U. S.
Supreme Court declared void, as an unlawful interference with interState commerce, the section of the Covington street railway ordinance
relating to overcrowding. See details in V. 100. p. 139. At a special
election held March 9 1915 the voters of Cincinnati rejected by a majority
or 8.903 out of a total vote of 56.423 the new 25-year franchise granted by
the Cincinnati City Council on Jan. 9 1915. In Nov. 1916 the voters of
Newport rejected the 20-year franchise granted by the city in July 1916.
Befunding.-On July 28 1915 the shareholders approved the plan for refunding the Union Lt., Ht.& Pow. Co.4% bonds due May 1 1918 ($1.608,000 outstanding) at or before maturity by a now issue of $5,000,000 50-yr.
5'7,, bonds, as proposed by the Columbia Gas & Electric Co. The new bonds
will be used to take up the present issue and such additional amounts will be
put out each year as are necessary to pay for extensions and additions. The
Columbia Gas & El. Co. guarantees a sink.fd. to retire all bonds at or before
maturity. V. 101, p. 694. As of Jan. 1 1917, $190,000 of the new bonds
had been issued.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common.$5,000,000 ($100)-Q-J
$5,000.000 Apr.'17. 1%
Prof. 434% non-cum, $5,1
000,000($100)
434 Q-J
4.500,000 Apr.'17, 194
Underlying BondsBO Cov&Cin cons M $500,000! 1892 6 g J-J
150,000 Jan 1 1932
1Covington Say Bank & Tr. Co., Trustee.
gold ($500, 31,000)
Newp & Day St Ry 1st M____ 1887 6 F-A
•
100,000 Aug 1 1917
Cincinnati Newport & Covin ton1St consol mtge, gold, $3,- 1892
b g J-J
2,750,000 July 1 1922
Farmers' Loan & Tr. Co. of N. Y. Trustee.
000,000 ($1,000)___c*&r
2d mortgage, $1,000,000. g 1896 5 g
859,000 July 1 1922
c Farmers' Loan & Trust Co., N. Y.. Trustee.
($1,000 each)
Union Light, Heat & Power Co.1901
4 g M-N
1,608,000 May 1 1918
1st mtge, $2,000,000, goldilnt. at Nat. Bank of Commerce, N.Y.; First
($100. $500 & $1,000)_etr
National Bank, Cincinnati, or at German
National Bank, Covington.
New mtge ($5,000,000)
1915
5%
190.000
1965
Guaranteed BondsLicking River Br Co 1st Ml. 1914 5 M-8
185.000
1939
$185,000 guar (see text) s fJ
Bonds.-Of the first consolidated bonds of 1892 of the C. N. & C. Ry..
$250.000 are deposited with the trustee to retire all the underlying mortgage
bonds. The perpetual charters of constituent companies are kept alive,
and their capital stocks are deposited with the trustee as collateral for the
first consols. Interest on those bonds is payable at the National Bank of
Commerce, New York, First National Bank, Cincinnati, and German Nat.
Bank, Covington. The Union Light, Heat & Power Co. bonds can be
called at 110 and int. For refunding of these bonds see remarks above.
Licking River bonds are guaranteed by Columbia Gas & Elec. Co. and the
South Covington & Cincinnati St.
DIVIDENDS.-On preferred 434% is being paid. On common stock
first dividend of % was paid July 15 1907 and 31% Oct. 15 1907. In




(VOL. 104.

1908.394%; in 1909,394%; in 1910,43-1%; in 1911.431%; in 1912, 531%•
In 1913. 531%; in 1914 and since, 6% per annum.
ROAD.--Connects Cincinnati. Covington, Newport, Bellevue, Dayton.
Clifton, Southgate, Fort Thomas, Fort Mitchell, West Covington and
Ludlow. Total in operation. 68 miles; laid with 80-lb. Johnston girder
and 72-lb. "T" rails.
OFFICERS.-Pres.,"James M. Hutton:VV.-Ps., James C. Ernst and
Clifford P. Garvey; Sec. & Treas., George M.IAbbott.-V. 101, p. 448, 694.

DALLAS, TEXAS.
DALLAS ELECTRIC COMPANY.-Trolley.
ORGANIZATION.-The Dallas Electric Co. was twerp. in Maine on
May 3 1913 with $7,000.000 auth. cao.stock,as a re-Incorporation of Dallas
Electric Corporation (incorp. in New Jersey in 1902). V. 96, p. 1422.
Does an electric railway and electric-lighting and power business in Dallas
by, virtue of the ownership of securities of certain local companies. Franchises of subsidiary companies expire in 1922. See V. 84 p. 157. For decision on occupation tax on Dallas St. rye. see V. 89, p. 41.
Also owns the entire capital stock of the Dallas Interurban Terminal
Association, which has constructed a modern fireproof eight-story passenger
terminal and office building in the business district of Dallas. The terminal facilities have been leased for 20 years to the three interurban lines entering Dallas. The terminal was opened for service Sept. 1 1916.
For decision enjoining the enforcement of the ordinance passed at the
special referendum election on April 2 1912, providing for the sale of 7
tickets for 25 cents and for only 3-cont fares whore passengers have to stand.
see V. 95. p. 113,_1472. 1541: V. 96, P. 1772: V. 98, p. 839.
Option.-.-The United Electric Securities Co. of Boston has secured an
option on the Stone & Webster holdings in Dallas with a view to reorganizing the properties in accordance with the city's requirements and forming
two now local companies to take over separately the traction and light and
power properties, valued at $4,100,000 and $4,400,000, respectively. See
V. 103, p. 2238; V. 102, p. 1896. At an election on Apr. 3 1917 the citizens voted favorably on the necessary franchise ordinances in connection
with the proposed companies. V. 104, p. 1489. The validity of the election held 11pril 4 1916. involving a number of city charter changes,including
the provisions under which the public utility franchises were voted April 3
1917, was upheld in the Fifth Court of Civil Appeals in a decision handed
down on April 29 1917.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common,$3,000,000 ($100)
$2.849,800
First pref.$2,000,000,6% cum
($100)
A-0
1,995,000 Oct '15. 3%
2d pf$2.000,000 5% n-c ($100)
A-0
1,997,300 Oct '15, 234
Notes 32.500.000 gold ($500 1914 5 g J-D
1,500,000 June 1 1917
and 31.000)
0' Int. at American Trust Co., Boston, trustee.
Term Mtge notes $1,000,000 1916 6 J-J
750,000 Jan 1 1921
($500 and $1,000)
c* Int. at State St. Trust CO., Boston, Trustee.
Dallas Electric CorporationFirst coil trust mtge,34.0004 1902 5 g A-0
4,000,000 April 1 1922
000,gold($100.$1,000)c*ttlint. at Old Colony Tr. Co., Boston, Trustee.
Notes payable,Mar.31 1917
2,001).000
Stock and Bonds.-$129,000 cora, stock is held in treasury not incl. In
amount outstanding. The 1st pref. is red. at 105. Sinking i tind, 1% per
ann. of bonds out. $644,000 were hold In the sink. fd. Nov. 3 1916. Callable as a whole on any int. dc to at 105 and int. $25.000 of the bonds are
In denom. of $100. rest being $1.000 each. Notes of 1914 are
callable as a whole at 100 and int. on any hit. day on 30 days' notice. No
further mortgage can be placed on property without equally securing
the notes with the other obligations to be secured thereby. V.
98, p. 1608. The Terminal mtge. notes are the direct obligation of the
Dallas Elec. Co.and are secured by a first mtge.on the terminal and office
bldg. in Dallas and the land upon which it is constructed; total cost about
31.500,000. Red. as a whole at 101 and int. on 30 days' notice. V.
102, p. 250.
Dividends.-On present 2d pref. (formerly "pref."), in 1905, 294%; In
1906, 5%; in 1907, April, 234%; none to Oct. 1909, when 2% was paid;
1910. April, none; Oct., 1%. In 1911 to 1915,5%. In Apr. 1916 divs, on
both 1st and 2d pref. stocks were deferred.
EARNINGS.-For 12 months ending Dec. 31:
Calendar
Gross
Net (after Other Interest Sinking Balance
YearEarnings. Taxes). Income. Charges. Fund. Surplus.
1916
$1,990,420 $782,809 $18,143 $388,249 $63,639 $349,064
1915
1,828,489 708.314
1,200 357,156 47,405 304,953
ROAD.-owns and operates 69.2 m. of track in the city of Dallas and
suburbs. 237 cars. Standard gauge. Power station capacity, 18,300
k. w. Also purchased power from the Dallas Ice Factory, Lt. & Power Co.
OFFICERS.-Pres., Joseph S. Lovering; V.-P., Robert T. Paine 26;
Treasurer, Henry B. Sawyer; Sec., Hollis T. Gleason. Gen. Mgrs., Stone
& Webster Mgt. Assn.-V. 103, p. 2238; V. 104, p. 163. 1489, 1800.
TEXAS ELECTRIC RAILWAY.
ORGANIZATION.-Incorp. in Texas July 5 1916 and is a consolidation of the Texas Traction Co. and Southern 'Traction Co. (see V. 104, ri•
362, 560), comprising a modern, high-speed electric interurban railway system serving a number of cities and towns in Texas, in and adjacent to the
"Black Waxy Belt." including Dallas, Waco, Denison, Sherman, Corsicana, Waxahachie and McKinney. Also owns and operates the local
street railway systems in all of these cities except Dallas. Present estimated
population connected and served, 250,000. Leases for 20 years from Dec.
17 1915 the terminal facilities of the Dallas Interurban Term. Assn., which
see under Dallas Electric Co. above. Interurban lines are located on private right-of-way; city franchises are satisfactory, and, in the opinion of
counsel, with 2 unimportant exceptions, extend well beyond 1947.
STOCK AND BONDS- Date. interest.
Outstanding. Maturity.
Com stock $6,000.000 ($100)S6,000,000
1st pf7% cum $1,500,000($100)- -700,000
Q-J
2d prof stock 33,000.000031001
3,00(1,000
1st & ref Mtge gold ($500 & 1917 5 g J-J
4,804,000 Jan 1 1947
$1,000)
c* Harris Trust & Say. Bank, Chicago.
Cony debentures $3,000,000 1917 6 g J-J
2,160,000 Jan 1 1942
($1,000 and
c*&r Int. at St. Louis Un. Tr. Co., true.. or N. Y.
Texas Traction$500)_1st Msink fd 1907
1,982,000 Jan 1 1937
5 g J-J
33,000.000 ($1,000)gc*&rtf Int. at Old Colony Trust Co., Boston, True.
Den & Sher first mortgage, 1902 5 J-J
214,000 July 1 1927
3350.000
esti Int. at Harris Trust & Say. Bk., Chic., True.
Preferred Stock.-Remaining 1st pref. stock is held in treasury. Red. on
any div.date after Jan. 1 1922 at 10794 and div. on 30 days'notice. The 2d
pref. stock is callable on any div. date on 30 days' notice at 10794 and div.
Bonds.-Additional 1st & ref. bonds may be issued for only 75% of the
cost of extensions, &c., provided net earnings are twice the total annual
interest charge, including bonds applied for. In addition to ordinary reserves for personal injuries and damages,$75,000 bonds are provided usable
for this sole purpose. Provision is also made for refunding underlying bonds
A special trust fund for maint. and renewals is provided out of gross earnings as follows: 1917, 11%; 1918, 12%; 1919, 13%; 1920, 14%; 1921 and
thereafter, 15%. Any part not so used may be expended for exts., &c.,
or for the redemption of any outstanding bonds. Beginning Apr. 1 1921
and yearly thereafter, cash equal to 1% of the 1st & ref. bs and underlying
bonds outstanding on the previous Dec. 31 shall be deposited, usable for
extens., &c., against which no 1st & ref. bs shall be issued, or for the retirement of 1st & ref. or underlying bonds. -The 1st & ref. 5s are rod. on any
int. date up to and incl. Jan. 1 1942 at 105 and int.; thereafter at 10234 and
int. Interest is payable in Chicago and N. Y. See offering in V. 104. P•
453. The debs. are callable Jan. 1 1922 and any int. date thereafter
on
30 days' notice at 10294 and int.: convertible on and after Jan. 1 1922 into
770_ cum. first pref. stock, par for par, with adjustment of int, and dive.
The Texas 'Fraction 1st bs can be called at 110 & accrued interest
on any int. date upon 30 days' notice. A sinking fund of 5% of gross earnings began July 1 1912.to be used in the purchase of bonds; $184,000 held
in sink, fund not incl. in amount outstanding above. Den.& Sher. 1st M.
bonds are subject to call on July 1 1917, or after, at 105 and int. on four
weeks' notice. A sinking fund began July 1 1905 of 2% per annum of
bonds out until 1913, when amount payable is 3% per annum until 1917;
from 1918 to 1922,incl..4% per annum; 1923 to 1928,incl..5% per annum;
$931000 held in sinking fund, not incl. in amount outstanding above; $3,000
canceled.
EARNINGS.-For year ending Dec. 31 1016, gross, $1,829,009; net.
after taxes and maint.. $804,871. Annual interest charge on $7,000,000
mortgage bonds outstanding, $350,000.
ROAD.-Owns and operates interurban lines between Dallas and Denison, 76.39 m.; Dallas and Waco,96.89 m.; Dallas and Corsicana, 56.10 m•;
2d main track,sidings and turnouts, 14.80 m.; local lines in Sherman, Denison, McKinney, Waco, Corsicana and Waxahachie, Tex.,incl. sidings, &c.,

MAY, 1917.1

35

ELECTRIC RAILWAYS

entrance into Dallas,
32.65 m.;total, 276.92 m.(incl. 9.98 m .'of track, beinginterurban
passenger,
leased). Gauge 4 ft. 81A in. 70-80-1b."T" rail. 61
baggage and 43 work, &c., cars; total,
56 city passenger, 14 express and Texas
which it
from
Co.
Lt.
&
Power
to
plant
generating
Leases
174.
as lease.
purchases power under favorable contract, expiring at same time
OFFICERS.-Pres., J. F. Strickland; V.-P. & Gen. Mgr., Burr Martin;
Treas., II. I. Gahagan; Sec., Jas. P. Griffin.-V. 104, p. 362, 453, 560.

DECATUR, INDIANA.

FORT WAYNE & DECATUR TRACTION CO.
ORGANIZATION.-Incorp. in Feb. 1916 with $200.000 capital stock
to succeed the Fort Wayne & Springfield By., bought in at receiver's sale
on Dec. 2 1915 (see V. 101. p. 2144). On June 23 1916 the Indiana P. S.
Comm. approved the purchase and authorized the issue of $90,000 10-year
gold bonds and $150,000 stock at par to pay for the property. V. 103. p.60.
In April 1917 applied to P. S. Comm. for auth. to issue $100,000 1st M.
bonds for extensions and betterments.
DANBURY, CONN.
EARNINGS.-For year ending Dec. 311916, gross, $53,251; net, after
DANBURY & BETHEL STREET RY.
$3,990. In 1915, gross, $48,868; net, after taxes, $4,084.
taxes,
-Incorp. May 7 1886 under the laws of Connecticut.
ORGANIZATION.
tho
serving
the
company
charter,
only
street
car
ROAD.-Operates 21.6 miles between Decatur and Ft. Wayne. Total
special
'perpetual
Has a
Its
Danbury
lines also extend to the
track, 23.7 miles. 70-lb. T rail; gauge, 4 ft. 83.4 in. An extension from
city of Danbury and town of Bethel.
Decatur to Berne (12 miles), is being constructed.-V.103, p. p.60.
Fair Grounds and the pleasure resort of Lake Kenosia.
Interest, Outstanding. Last Div..&,c
STOCK AND BONDS- Date.
2%
Jan
J-J
_
_
_
$320,000
$25)
(par
DELAWARE, OHIO.
$623,000
Stock,
1 1943
5 g M-N
339,500 May'12'
First & re mtge $600,000 1913
COLUMBUS MAGNETIC SPRINGS & NORTHERN RY.
($500 and $1,000) n s f__,.:* Int. at American Trust Co.. Bos., Truttoe.
ORGANIZATION.-Incorporated in Ohio on Oct. 15 1906, and is a
5 g M-N
100.000 May 1 1936 consolidation of the Delaware & Magnetic Springs By. and the Richwood
Consol mtge, $300,000, gold 1 1906
($500 and 31,000)Int.at American Trust Co., Boston, Trustee. & Magnetic Springs By. Private right of way except in City of Richwood.
6 M-S
63,000 Mar 1 1918
Debenture bonds, $75,000 1908
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
c Int. at City National Bank of Danbury.
($1,000 and $500)
$130,000
6 J-J
86.000 Jan 1 1921 Common,$200,000($100)Debenture bonds, $150,000- 1911
100.000
$200,000
Bonds.-Tho 1908 debs. are red. at 105 on any int, date after due no- Pref, 6% n-c,
M-N
g
5
250,000 Nov 1 1931
1906
g{
$400,000,
M,
1st
CMS&N
of
$75,000
debs.
are
reserved for like amount of
tice. Of the 1911 dabs..
($1,000), cannot be called, Interest at Colonial Trust Co., Pittsburgh,
1908. Of the 5s of 1913, $100,000 are reserved to retire a like amount of
Trustee.
and no sinking fund_c*tf
consol. 5s and $150,000 for retirement of the two debenture issues.
EARNINGS.-For year ending June 30 1916, gross, $27,068; oper. exp..
Dividends.-In 1896-97, 4%; in 1897-98, 4%; in 1898-99, 2%; in 1899- $20,355;
net, $6,713; taxes. $2,783; net, after taxes, $3,930.
In
1900, 1M %; in 1900-01. 13-%; in 1901-02, 3%; in 1902-03, 3%;
ROAD.-Operates 18 miles of track from Delaware to Magnetic Springs
none since.
1903-04. 14%' 1907 to 1911. 4% ann.; in 1912, Jan.. 2%;
and Richwood.
ROAD.-Trolley road In Danbury, and from Danbury to Bethel, and to
OFFICERS.-Pros.. W. M. Galbraith, Pitts.; V.-P. and Treas., C.
Lake Kenosia, 15.031 miles in all; sidings. &c., 1.014 miles;. total, 16.075 Magee Jr., Pitts.; Sec.. Chas. J. Fifer. Richwood,0.-V.83, p. 1228,1469.
miles. 42 passenger and 7 other cars. Standard gauge.
REPORT.-For year ending Juno 30:
Balance.
Gross.
Net. Int. & Taxes.
DENVER, COL.
(lef. 87,137
$39,681
$47,118
$159,865
1915-16
THE DENVER TRAMWAY SYSTEM.
def.
30,363
13,501
43,864
141,603
1914-15
Denver & Northwestern R Y.-A holding company.
(1)
136,111
40,498
33,119
sur. 7,378
1913-14
ORGANIZATION,&c.-In Mar.1913 a syndicate headed by I3oettcher,
OFFICERS.-Pros.& Gen. Man.,John Sanders; Sec.& Treas.. S. W.C. Porter & Co. of Denver acquired a controlling interest through purchase of
the stock (about $1,600,000) held by Marsden J. Perry of Providence,
Jones.-V. 86, p. 1159.
this purchase making its total holdings about a 75% int. V. 96, p. 863.
This company, since the plan in V.98, p.1156, went into effect., is simply
DAYTON, OHIO.
holding company, practically its only asset being the $9,000,000 common
a
CITY RAILWAY CO.-A trolley road.
stock of the Denver Tramway Co.. which is pledged as security for the $0,ORGANIZATION.-Chartered May 12 1893. Is a consolidation of the 000,000 1st & Coll, bonds of this co., and its only liability being $6.000,000
I)ayton Street RR., the Dayton & Soldiers' Home RR., the Fifth Street of its capital stock outstanding in the hands of the public, the payment of
ts bonds having been assumed by the Denver Tramway Co.
RR. Franchises run for 60 years from.Feb. 8 1892 and April 19 1893.
Interest. Outstanding. Maturity.
Maturity.
STOCK AND BONDS.- Date. Interest. Outstanding.
STOCK AND BONDS-' Date.
is,
$2,400,000
See text
$6,000,000
Mar'17,
Q-J 10
Stock $6,000,000($100)-----Q-M
Common,$2,400.000 ($100)-600,000 Mar'17, 13
6 Q-M
First and collateral mtge (assumed by Deny.Tram.Co.-see below).
Preferred, $600,000 ($100)___
Dividends.-Prior to July 1909 dividends were at rate of 6% per annum.
Bond issues have been paid off.
Dividends.-6% per annum is being paid on pref. On common, in 1900 In July 1909 quar. div. was increased to 2% and same amount paid quarto 1903, incl., 6%; also 16 2-3% ($250,000 in new stock at par or in cash), terly to July 1913. In Oct. 1913 rate was reduced and 1% was paid
to (V. 97, p. 1115). Same rate quar. to and incl. April 1915. In July
declared Nov. 1903, paid Jan. 1 1904; in 1904,6%;in 1905,6%%;1906
1910, inclusive, 7% per ann.; in Feb. 1907 paid a special div. of 5%, 1915 rate was further reduced to 3.4 of 1%. Oct. 1915 dividend omitted.
(V.83. p. 1590); in 1911. 7%,and in April 1911 a special div. of $909 1-Pl. V. 101, p. 1188, 1370. None since.
4%. In March 1912 began paying divs.
(V. 92,p. 1178); in 1912, Jan., 1,
REPORT.-Of Denver Tramway System for fiscal year ending Dec. 31
Q.-M.instead of Q.-J., and on March 31 paid 1V4,%; June, 2%; Sent., 2%; (inter-co. transactions eliminated). Report for 1916 in V. 104, p. 1894:
Dec., 2%. In 1913, 8%. In 1914, 7%%. In 1915, 6%• In 1916. Fiscal
Other
DeditcNet (after
Balance.
Gross
05%. In 1917, March, PA%•year 1916, gross, $766,311; net, $305,124; Year- Earnings. Taxes, &c.). Income.
Lions.
Surplus.
EARNINGS.-For calendar
$981,162
$21,234
$1,384,661
$424,733
$3,275.877
1916
;
$618,173
in
gross,
1914, 1915
Int. & taxes, $54,551;surplus, $250,573. In 1915,
22,709
993.182
1,244,724
274,251
3,141,906
gross, $669,823.
OFFICERS.-Pres., S. M. Perry; Gen. Mgr., F. W. Hild; Sec., H. S.
ROAD.-Controls and operates in all 36.85 miles of track namely: Third Robertson; Treas., II. J. Alexander; Aud., W. A. Doty. V. 101, p. 1894.
and
Line
Ave.
Dayton
Street Line, Fifth Street Line, Green Lino, Kammer
(2) Denver Tramway Co.-Operating Company.
& Soldier's Home Line. Gauge 4 ft. 83,5 in.; rails 70 and 80-lb. T and
The Denver & Northwestern By. owns $9,000,000 of the common stock.
70 and 90-1b. girder; operating 42 G. E.67 and 50 G. E. 800 motor equipORGANIZATION.-Incorp. March 30 1914 in Colorado as successor
ments; 124 cars and 3 sprinklers.
to the Denver City Tramway Co., which had previously absorbed the DenOFFICERS.-Pres., E. D. Grimes; 1st V.-P., 0. B. Clegg; 2d
E. J. Barney; 3d V.-P., G. G. Shaw; Sec., M. Hall; Gen. Supt. & Purch. ver Tramway Power Co. and the Denver Tramway Terminals Co. Owns
Western
and
Auburn Aves., Dayton.-V.83, entire $500,000 stock of the Consolidated Securities & Investing Co. (inAgt., T. E. Howell. Office,
corp. on the same date to succeed the Denver Realty Co., Boulevard Real
v. 1590; V. 92. p. 1178. 1564; V. 99. P. 1909; V. 100, p. 53. 1256.
Estate Co. and Denver Excursion Co.), which in turn owns all the outstanding stock and bonds of the Denver & Inter-Mountain RR. See plan of reDAYTON COVINGTON & PIQUA TRACTION.-A trolley road.
ORGANIZATION.-This was formerly known as the Dayton & Troy organization under "Denver & Northwestern By." in V. 98. p. 1156.
Franchises.-Operates within the city of Denver under a general franchise
Traction, but name changed to the above in Aug. 1901. The D. & T.
Traction was incorporated in Ohio in Jan. 1900 to build a street railway granted Feb. 5 1885. Also under a 20-yr. grant voted by tax-paying electors
route
but
was
the city in May 1906, which authorizes it to maintain three-rail tracks.
of
Troy,
to
from Dayton
changed, and road constructed from
Dayton to Covington and Piqua, about 38 miles. Company acquired the gauges 3 ft. 6 in. and 4 ft. 8Y6 in., over all its present lines within the city
and permits the construction of certain viaducts and extensions. See deright to use the tracks of the People's BY. in entering city of Dayton.
in V. 84, p. 220. Under decision of the U. S. Circuit Court of ApSTOCK AND BONDS- Date.
Interest. Outstanding. Maturity. cision
peal on Nov. 11 1912 the franchise of 1885 was held valid, the Court deStock auth, $600,000 ($100)-$600,000
that in view of the franchise of 1906 It was unnecessary to pass upon
&ling
Prof, 5% n-c, $550,000 ($100) ____
550,000
the duration of the older franchise at that time. The company claims that
5 g A-0
First mortgage, $550,000, gI 1902
490,000 April 1 1922 its
is perpetual. See decision in V. 95. p. 1472.
franchise
Int.
ntf
c*_
at
Old Colony Tr. Co., Boston, Trustee.
($1,000)
Tax Settlement.-For settlement of dispute between the city and the
6 g M_S
Second mortgage, $60.000_ nt
60,000 Sept 1 1919
taxes for the years 1912, 1913 and 1914,see V. 101, p. 370.
Bonds.-$60,000 1st mtgo. bonds are reserved for extensions and im- company over
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
provements; 2d mtge. bonds are subject to call on any int. date at 105.
_$10,000,000
EARNINGS.-For year ending Juno 30 1916, gross, $150,119; net, Common stock $10,000,000__..
_________
See text
----cum)
(7%
taxes,
Prof
stk
$3,000,000
$40,890;
and
interest
surplus,
$19,424. In 1914-15, gross.
$60,314;
6 g A-0
2,500,000 Apr 1 1919
Cony gold bonds $3,000.000 1914
$147,512; not, $51,520; interest and taxes, $41,025; surplus, $10,505.
gold ($100, $500 & 51,000)1Int. at Columbia Trust Co., N. Y.City.
ROAD.-Total track 38 miles. Standard gauge. 70-lb. T, 80 and 905 g M-N
518.600 May 1 1932
Deny & N W Ry 1st & coll M 1902
lb. girder rails. 10 passenger cars, 2 express cars and 5 other cars.
OFFICERS.-Pres., D. Dwyer; V.-P.& Gen. Mgr.,Thos. T. Robinson;
g $6,000,000 ($500 and Int. at Bankers Trust Co., New York.
c*
c5
also
trustee;
office
in Denver.
146.
co.
of
P.
77.
-V.
$1,000)
Brennan.
Supt., T. J.
105 and int. on 90 days' notice.
5 g M-N 11,326,225 Nov 1 1933
Den City 'Fr Co 1st & ref Mf 1908
DAYTON Sc TROY ELECTRIC RY.-A trolley road.
$25,000,000 g ($500 and Int. at Bankers Trust Co., New York.
ORGANIZATION.-Incorp. 1900. Is built on both public and private
trustee, and in Denver.
$1,000) sinking fund_ _c*tf
right of way. Completed in Dec. 1901. In Dec. 1915 received a 20-year Deny City Tram purchase 1899
5 g A-0
2.000,000 Apr 1 1919
Piqua.
Rails, 70-lb. T. Power house located
extension of its franchise in
money mtge g $2,000,000 Int. at Central Trust Co., N. Y., trustee.
at Tippecanoe City, Ohio. Stock, $500,000 ($100) corn. auth. and Issued
_c*tf
and
_
($500
$1.000)
prof.
cum.
5%
auth.;
($100)
and $800,000
$647,700 issued. No bonds
5 g A-0
Cons Tram cons mtge 1893
1.167,000 Oct 1 1933
contemplated. In May 1902 took over Miami Valley By. under 99-year Deny
n tf Int.at Bkrs Tr.Co.,N.Y.,trustee & in Denver
$4,000,000 gold
lease at a rental of $9,600 per annum, which is applicable to stock of Deny
5 g A-0
1903
mtge
impt
1st
ow
I
Tr
1,024.000
Apr 1 1923
been
canceled.
having
mortgage
$300,000,
$1,500,000 g ($1.000) guarrnt. at Internat. Tr, Co., Denver, trustee,
Dividends.-On the prof. stock 5% per annum is being paid. On coin.,
or Guaranty Trust Co., New York.
principal and interest_ __At
Jan. 1 1904, 2%; in 1905, 6%; in 1906, 6%;in 1907 2%; in 1908, none; in Deny
5 g M-S
See text
1.273,000
Tr Term 1st mtge 51.- 1910
1009, 5%;in 1910,6%;in 1911,5%;in 1912. Mar.,lq %. In 1913. Sept.,
500,000 g ($100 & $1.000){ Interest at Bankers Trust Co.. N. Y., trus1 %; Dec.. 1Y%; in 1914. Juno, 13.4 %; in 1915, Dec., 1 %; in 1916.
.c*tf I tee, and in Denver.
guar prin & lot
%.
5 1 ; in 1917, March,
Stock.-$9,000,000 common owned by Denver & Northwestern By. and
EARNINGS.-For years ending Dec. 31:
Net.
Gross.
Deduct'ns. Dividends. Surplus. $750,000 is held for conversion of Deny. Tramway cony, bonds, the remainYear$139,822
3316,122
$250,000 being set aside for expenses of organizing Denver Tr. Co.
ing
$3
5
4
9
:
9
$22,520
10
3
$57,372
1
1916
83,435
Preferred stock is reserved for conversion of bonds.
272,831
38,602
1915
ROAD.-Owns equivalent of 32.68 miles of single track between Dayton
-Of the bonds reported outstanding as above, 5838.500 Denver
Bonds.
and Troy. Leases 14.25 miles between Troy and Piqua (incl. 3.31 m.local City Tramway 1st & ref. 58 and $18,000 Denver Tramway Terminals 1st
linos in Piqua); total operated, 46.93 m.
by the Denver Tramway Company. Convertible bonds
owned
are
5s
OFFICERS.-Pres., H. P. Clegg; V.-P., Chas. B. Clegg; Sec., L. C. are redeemable at par and accrued interest on ninety days' notice. ConR. A. Crumo; Aud., F. Sprague. General vertible on or after April 1 1915 until April 1 1918, but not thereafter,
Clegg; Treas. & Gen. Mgr.,
-V.
Ohio.
95, p. 1744; V.99, p. 48; V. 102. p. 152. into an equal amount of 7% cumulative preferred stock, accompanied
office, Tippecanoe City,
by common in amount equal to 25% of the face value of the bonds conDAYTON SPRINGFIELD & XENIA SOUTHERN RY.-Trolley.
verted. Of the Denver & Northwestern 1st & collat. mtge. bonds, $5,ORGANIZATION.-Incorporated in 1909 as successor to the Dayton & 480,500 have been exchanged for Denver City Tramway 1st & ref. 5s.
Xenia Transit Co., sold at foreclosure. Stock, auth. and outstanding, and $900 are in treasury of Denver Tramway Co. Of the Denver Cons.
Par $100. 1st M. auth. and issued, Tram. 1st cons. 58, $163,000 have been canceled and $2,670,000 have been
$200,000 coin. and $300,000 pref.
$500,000. Earnings for year ending Juno 30 1915, gross, $178,884; net. exchanged for Deny. City Tram. 1st & Ref. 58. The Denver City Tramway
Co., prior to the sale of its properties, executed a mtge. upon all its physical
$35,620.
ROAD.-Owns and operates 35.22 miles of track from Dayton to Xenia properties (other than those formerly belonging to the Denver & Northand from Dayton to Spring Valley. Pres., C. J. Forneding; V.-P., T. A. western By. Co.) junior to the lien of its First & Ref. S. F. Mtge., as addiForneding; Sec. & Treas., if. L. Ferneding, all of Dayton.-V.89. p. 285. tional security for the [$6,000,000] First & Collateral bonds of the Denver
& Northwestern Co., the payment of which Northwestern bonds the Denver
Tramway Co. has assumed. Denver City Tr. Co. 1st & Ref. bonds are
OAKWOOD STREET RAILWAY CO.-A trolley road.
rod. at 105 & int. after 1913 up to Nov. 11923; thereafter at 10234 & int.
In April 1915 Major Charles B. Clegg acquired control.
on 60 days' notice. Sinking fund of 1% of bonds out began Nov. 1 1914
ORGANIZATION .incorporated July 22 1870 in Ohio. Franchise ex- until and incl. Nov. 1 1923; thereafter 2% of bonds out; $477,000 retired
pires 1941. In Oct. 1909 the Ohio Supreme Court hold the franchise valid through sinking fund. The Denver Tramway Power Co. 1st Impt. Mtge.
over the objections of the City Solicitor. Stock auth. and outstanding, bonds are subj. to call any int. date at 105 and int., sinking fund of $50,000
$500,000 (par $100). No bonds. Operates 8 miles of track in Dayton and Per annum, to retire bonds at 105 and int., commenced in 1908, and 8476,suburbs and leases (from Jan, 11916) the Oakwood ltR.'s lino In Oakwood 000 have been retired. Int. payable in Now York and Denver. The revillage; total miles operated, 10. Standard gauge. Pres. & Tress., maining Deny. Tram. Term. Co. bonds are for impts. They mature
Charles B Clegg; V.-P., II, P. Clegg; Sec. & Gen. Mgr., Henry Gebhart, $60.000 annually Sept. 1 1916 to 1940. Red. as a whole on any int. day
all of Dayton.-V. 100, p. 1438.
at 105 & int. on 30 days' notice. V. 98, p. 1156. $60,000 retired.




36

ELECTRIC RAILWAYS

REPORT.-Of Denver Tramway Co.(1916 report in V. 104, p. 1894):
Gross
Net (after
DeducOther
Balance
Dec. 31 YearEarnings. Taxes, &c.) Income. lions.
Surplus.
1916
$3.116,920 $1,356,897 $3,182 $981,162 $378,917
1915
3,019,210
1,235,803
7,434
993,167
250,070
Passengers carried in 1916, 76,198,497, against 73,123,245 in 1915.
ROAD AND EQUIPMENT.-Including the Denver & Inter-Mountain
RR., owns 253.21 miles of electric track, of which there are 213.10 miles of
city lines and 40.14 miles of interurban lines; gauge. 3 ft. 6 in. and 4 ft.
83i in. 252 motor passenger cars, 141 trailers, 161 freight and 66 misc.
cars; total, 620 cars. All freight equipment leased to Denver & InterMountain RR. Co. Capacity of central generating plant, 8.700 k. w.
5 sub-stations. 2 of 1,500 k. w. each, 2 of 1,000 k. w. and 1 of 900 k. w.
OFFICERS.-Chairman of Board, C. K. Boettcher; V.-P., S. M.Perry;
Gen. Mgr.. F. W. Hild: Sec., H. S. Robertson; Treas., H. J. Alexander.V. 102. p. 1896. 2254, 2337; V. 104, P. 1894, 1915.
(3) Denver & Inter-Mountain RR.-Operating Company.
The Consolidated Securities & Invest. Co. owns all the stock and bonds.
ORGANIZATION.-Incorporated in Colorado about Oct. 29 1907 as
Inter-Mountain Ry., but on April 2 1909 changed name to present title.
Private right of way. Franchises in Denver and Golden are perpetual.
Has freight traffic agreements with Denver Tramway Co. and arrangements for interchange of transfers on Denver City lines; also contract for
use of Tramway Co.'s tracks in entering Denver.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $1,000,000 ($100)_
$1.000,000
Inter-Mountain By,1st mort-{ 1908
500,000 Jan 1 1938
5 g J-J
gage, gold, $750,000 ($100 Interest at Continental Trust Co., Denver,
and $1,000)
c*tf
Trustee, or Bankers Trust Co., New York.
Bonds are callable at 105 on any interest day.
ROAD, &c.-Incl. in Denver Tramway Co.-V. 98, p. 1156.

DERRY, PA.
WESTMORELAND COUNTY RAILWAY CO.
ORGANIZATION.-Incorporated in Pennsylvania on Dec. 27 1904. Is
a consolidation of the Bradenville & Derry Street By. and the Blairsville &
Derry Street By.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock.$500,000($50)
$500,000
First mortgage, $250,000, gf 1905
5 g M-S
250,000 Mar 1 1935
($100)
c*lInt. at East End Say.& Tr. Co.,Pitts., Trus.
Car trusts
M-8
1915
9.600 See text
Bonds.-No sinking fund, and bonds are not subject to call.
The car trusts mature $600 s.-a., March and Sept. 15. $2,400 retired.
EARNINGS.-For year ending June 30 1916, gross, $43,066; net, $20.
905; int. $13,817; taxes, $1,406; deprec., $5,000; surplus, $682.
ROAD.
.-Operates 7 miles of track.
OFFICERS.-Pres.. John E. Potter; V.-Ps., F. Wm. Rudell and J. A.
McComb;Sec., II. S. Calvert; Treas.,J. G. Vilsack,all of Pittsburgh; Supt.,
S. F. Schwerdt, Derry.-V.82. p 50.

DES MOINES, IOWA.
DES MOINES CITY RAILWAY CO.-A trolley road.
In March 1911 N. W. Harris of Chicago acquired practically all the
stock not previously owned by him of the Des Moines City By. Co.and
of its allied corporation, the Inter-Urban By. Co. V. 92, p. 794.
ORGANIZATION.-A consolidation In 1893 of the Des Moines St. RR.
Co. and the Des Moines Suburban By. Co. Is authorized to carry freight.
Franchise.-A new 25-year franchise was granted at an election on Nov.29
1915 which places entire control of service in the hands of a commission
(one member appointed by city and the other by the co.) and provides for
arbitration when the commission cannot agree. Also provides for 6 tickets
for 25 cts. half-fare for children under 12 and 20 tickets for 50 cts. for highschool students. The city, when empowered to do so, may purchase the
property on 6 months' notice on the basis of a $5,000,000 valuation as of
Aug. 11915. For further details see V. 101, p. 1885. The franchise also
provides for new rolling stock. 8 miles of extensions in 3 years and the
expenditure of $1,500,000 within 3 years for rehabilitation.
Refinancing.-A new General & Refunding Mtge. was created in 1916
to carry out the terms of the above franchise and provide for future capital
expenditures. Owners of the $2,202,000 5% Ref. M. bonds of 1901 deposited with the committee formed upon default of int. due Apr. 1 1915
on said bonds (V. 100, P. 1348) were given the opportunity to (1) exchange
certificates of deposit for new bonds, $ for $, and receive a bonus of 5%
($50) in cash with adjustment of int. in cash or (2) receive payment in full
In cash. The committee waived all defaults under the Ref. M.(V. 100,
p. 1348) and consented to the discharge of the receiver (V. 101, p. 130).
V. 102, p. 712. All but $57.000 of the $2,413,000 Ref. M. bonds outstandng have been acquired and deposited under the Gen. & Ref. Mtge.
Guarantees the Inter-Urban By. Co.1st M.bonds, p. & I. See be ow.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common,$3,000.000 ($100)$1,055.000
Pref,6% non-cum,$250,000
250.000
Des Moines Street RR let M,1 1889 6 g A-0
131,000 Oct 1 '17 to
gold ($1,000 each)
n tf
(See text)
Oct 1 1919
Cont.&Comm .Tr .&Sav .Bk.,Chic..trustee.
Des Moines City By refund'g 1901
5 g A-0
57,000 April 1 1921
$3.000,000,
mtge,
gold Int. at Harris, Forbes & Co., N. Y.; also
c* ntf
($1.000)
Harris Tr.& S. Bk.. Chic. Trustee, Ill. Tr.
& Say. Bk. and Wm. H. Henkle of Chic.
Des Moines City By Gen &f 1916
5 J-J
4,162,000 Jan 1 1936
Ref M, $15,000,000, gold
Harris Tr. & Says. Bk. Chicago, Trustee.
($500 and $1,000)____&__
Interest at New York and Chicago.
Debentures ($2,000,000) goldf 1916 6 g M-S
1,000,000 Mar 1 1926
($1,000)
c*ntflint. at Ill. Tr. & S. Bk.. Chicago, trustee.
Bonds.-$188,000 Gen. & Ref. M.bonds of 1916 are reserved to retire underlying liens. An additional $500,000 bonds may be issued for the full
amount expended for construction, reconstruction and rehabilitation,or for
permanent oxts. enlargements and adds.;remaining $10,150,000 bonds may
only be issued for
'80% of expend, for perm. exts., enlargements and addns.
under conservative restrictions. Bonds are red. on any int. date at 105
and int. Mtge. provides for an annual expenditure, beginning with 1920.
of 20% of gross earnings for maint., repairs and renewals for exts.
and addns. for which no bonds may be issued, or for the purchase or retirement of outstanding bonds. V. 102, p. 975. Of the $2,413,000 ref. mtge.
bonds of 1901 outstanding, $2,356,000 have been acquired and deposited
under the gen. & ref. M., leaving $57,000 in the hands of the public.
Ref. M. bonds can be called on any interest date at 106 and int. Sink.
fund $10,000 yearly on April 1 from 1906 to 1910, $15,000 from 1911 to
1915 and $25,000 from 1916 to 1920. The Des Moines Street RR. 1st M.
6s are due $25,000 annually from Oct. 1 1914 to Oct. 1 1918 incl. and
$100,000 due Oct. 11019. The debentures of 1916 are callable on any int.
date up to and incl. Mar. 11021 at 102% and int.; thereafter at 101 and int.
REPORT.-For year ending March 31 1917, gross, $1,419.234; net
after taxes, $461,099.
ROAD.-Operates 95.15 miles of track. 35 to 129-1b. rails. 137
passenger and 17 service cars.
OFFICERS.-Pres., Emil G. Schmidt; V.-P., E. P. Smith; Sec., 0. H.
Bernd; Treas., F. M. Harris; Asst. Sec. & Asst. Treas., H. A. Dow.
V.100, p.308, 1348, 1672; V.101, p.130, 1188, 1885,2144; V.102.p.712,975.

(VOL. 104

April 11906, and bonds so purchased are to be kept alive for purposes of the
fund; $16,000 is held in sinking fund,included in amt.outstanding above*
Debentures are red. on any int. date at 101 and int.
EARNINGS.-For year ending Oct. 31 1916, gross, $380,183; net.
after taxes, $107.055.
ROAD.-Operates 74.76 miles of track (incl. sidings) connecting Des
Moines and Colfax, Des Moines and Perry, with branch to Woodward.
Standard gauge; 60 and 70-lb. T rail. 12 pass., 132 freight. 5 service cars;
4 locomotives; 2 express and 2 caboose cars. Cars enter Des Moines over
tracks of Des Moines City By.
OFFICERS.-Same as for Des Moines City Ry.-V. 74. p. 680.

DETROIT, MICH.
DETROIT UNITED RAILWAY.-(See Map page 37)-Trolley.
ORGANIZATION.-Incorporated in Michigan Dec. 31 1900 and took
over franchises aad properties of the Detroit Citizens' Street By., the Detroit Electric By., the Detroit Ft. Wayne & Belle Isle and the Detroit Suburban. V. 72, p. 44 .183. Embraces all the street railway lines in Detroit.
Later absorbed by purchase the Detroit & Northwestern Ry., which is
known as the Orchard Lake division. the Detroit & Pontiac By.. known
as the Pontiac division, the Wyandotte & Detroit River By.. known as the
Wyandotte division, and the Detroit & Flint. formerly the Detroit Rochester Romeo & Lake Orion By., and known as the Flint division.
Owns entire capital stock of the Detroit & Port Iluron Shore Line (Rapid
Railway System); Sandwich Windsor & Amherstburg By. (acquired in
Aug. 1901): Detroit Monroe & Toledo Short Line By. (acquired in Feb.
1906) and the Detroit Jackson & Chicago By. The last-named is a reorganization of the Detroit Ypsilanti Ann Arbor & Jackson Ry., the Jackson Ann Arbor & Detroit By. and the Detroit Plymouth & Northville By..
which were acquired in Jan. 1907. Also owns the entire capital stock of
the Detroit Almont & Northern RR., which it leases for 50 years from 1915.
and guarantees and assumes its bonds as a direct obligation, by endorsem't.
In Aug. 1901 purchased 180 shares (all) of the stock of the City Electric
Ry. and the People's Electric Light plant of Windsor. Ont.
Franchises.-On May 22 1916, Pres. J. C. Hutchins wrote: "Certain of
the franchises in Detroit have expired during the past several years. These
franchises, which relate to about 15% of the total mileage, have not been
renewed, but the Detroit United By. continues to operate these lines in
question as heretofore, having made agreements with the city authorities
for rates of fare and extensions of its lines. These conditions have created
what may be called an indeterminate franchise which the management
anticipates will continue in force as heretofore so long as the co. furnishes
Its present efficient service, at existing low averalge rates." For decisions
relating to Fort St. franchise, see V. 95. p. 890; V
V. 96, p. 947. 1556.
Appraisal of Company's Property.-In Oct. 1915
Mortimer E. Cooley
filed a report of his appraisal of the company's property, which fixed the
value in the one-fare zone on Jan. 1 1915 at $29,714,079, or less depreciation,at$23,608.665; physical value of entire system. $48,400.764, with deprec. considered, $43,051.662. The value of all franchises was placed at
$7.783,481. Total value of D. U. By.system,$56,184,165, or less deprec..
$50,815,063. V. 101, p. 1464. Compare V. 100. p. 139, 308.
City Purchase Plan Defeated.-At the election on Nov. 2 1915 the voters
defeated the plan (V.100,p.811; V.101, p. 614) for the acquisition by the
city of the co.'s lines and property within the one-fare zone. V. 101,p.1553.
Temporary Agreement with City.-On Aug. 8 1913 the Common Council
rescinded the ordinance adopted Oct. 26 1909 fixing the rental on lines on
which franchises had expired at $300 per day, and adopted the recommendation of Mayor Marx for a temporary agreement for the settlement of
existing differences, which provided, among other things, for the payment
of back taxes and rentals and fixed a rate of fare (put into effect Aug. 15
1913) of 7 tickets for 25 cents on all city lines, 5 cents for single cash fares
with right of transfer, workingmen's tickets (unchanged) at 8 tickets for
25 cents for two hours each morning and evening. V. 97, p. 443.
Back Taxes Paid.-On Oct. 14 1913 taxes aggregating $323,592 (incl.
$64,814 int. at 6%) were paid to the City Treasurer in accordance with the
agreement with the city reached in Aug. 1913 (see above and V. 97, p. 443).
The $75,000 for back rental on Fort St. was also paid. V. 97, p. 1115.
Favorable Fare Decision.-The U. S. Supreme Court on Dec. 11 1916 upheld the co.'s right to charge extra fares for transporting passengers beyond
the old city limits into territory which has since been brought within the
city as at present extended; also held the co. need not sell reduced rate
"workingmen's hour" tickets in the annexed territory. Ills said In view of
the friendly relations existing, the company may refrain from exercising
its rights. V. 103. p. 2340.
On Feb. 6 1917 authorized amount of stock was increased from $12,500,000 to $25,000,000 and $2,500,000 new stock was offered pro rata to stockholders of record Feb. 16 1917 at par. V. 10.1, p. 163, 559.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock- $25,000,000 MOW-$15,000,000 Juno '17, 2%
Q-M
1st consol mtge. 325.000,000,1
- 1902 ‘ui g J-J 14,555,000 Jan 1 1932
gold ($1,000)
cscPtiGuaranty Trust Co., N. Y., Trustee, Int.
1 at Agency Bank of Montreal.
Coll trust notes $3,500,000 g__ 1916
3.500,000 May 5 1918
5 F-A 5
Detroit United By. stock listed on the New York. Montreal, Detroit
and Cleveland Stock Exchanges.
Bonds.-Of the $25,000,000 first consolidated mortgage bonds authorized.
$7,630.000 are reserved to retire underlying liens and $2,715,000 are held
in treasury. Callable at 105 and interest on any interest date on 60
days' notice. See V. 73, p. 1111; V. 103, P. 320. Listed on New York
Stock Exchange. The collateral trust notes were issued in Dec. 1915,
part of the proceeds being used to retire notes maturing Feb. 5 1916.
V. 101, p. 1972; V. 102, p. 65. They are secured by deposit of $2,565,000
bonds of the company and $5,181,000 par value of bonds and stocks of its
subsidiaries. Notes are redeemable as a whole at 101 and int. on :30 days'
notice to Feb. 5 1917, thereafter at 100A and int.
Detroit Electric.
Interest. Outstanding. Maturity.
Date.
Detroit By 1st M.g ($1,000)! 1895
$1,550.000
6 g J-D
1917-1924
on 56.34 miles
c*&r1Interest at Cleveland Tr. Co.. Trustee.
Bonds.-First mortgage bonds of the Detroit By. numbered 1 to 600 mature in order of numbers at $50.000 per annum, beginning Dec. 1 1912:
numbers 601 and above mature Dec. 1 1924; 3250.000 have been retired.
Detroit Fort Wayne 5c Belle Isle.
let mtge, gold, 31,200,0001 1898
5 g A-0
31,200,000 April 11027
($1.000)
c*&ri New York Trust Co., Trustee. Subject to
call at 105 and int. on 60 days' notice.
Interest at Kean. Taylor & Co., New York.

Detroit & Northwestern Ry.
1st mtge, $1,000,J00, gold{b 1901
43-i_g M-N 3855,000 May 1 1921
($100, $1,000)
c* Interest at Union Trust Co., Detroit, Trust.
Bonds.-Are guar., p
I., y Detroit United By. by end. and are subject to call at 105 and int. on 60 days' notice. See V.73, p.494.
Detroit & Pontiac Ry.
let mortgage, $500,000, gold 1897
$500.000 Feb 1 1922
5 g F-A
c* Washington Trust
($1.000)
N. Y.. Trustee.
State Bank, Detroit.
Co.'
Interest at People's
let con mtge, gold ($1,000). 1901
600,000 June 1 1926
434 g .1-D
$1,100,000
c*Str Int. at Washington Tr. Co • N. Y.. Trustee.
Bonds.-$500,000 consolidated mtge..06% bonds are reserved to retire
like amount of 1st mtge. bonds. Bonds are subject to call at 105 and interINTER-URBAN RAILWAY CO.-A trolley road.
est on 60 days' notice after June 1 1911. Principal and interest of both
ORGANIZATION.-Incorporated in Iowa to construct a system of issues guaranteed by Detroit United by endorsement.
Interurban roads connecting with Des Moines. The Des Moines City By.
Wyandotte & Detroit River Ry.
Co. guarantees the bonds, principal and interest.
consol. mtge, 3425,0001 1898
5 g J-1.3
$425,000 Dec 1 1918
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. let
elInterest at Union Trust Co., Detroit, Trustee
($1.000).
gold
Stock, $1,200,000 ($100)
$1.160,000
1st mortgage, sinking fund, 1901
5 g A-0
1.160,000 April 1 1921
Detroit & Flint Rail way.
gold ($1,000). guaranteed Cont.& Comm.Tr.& Saw. Bk.. Chic., Trus.
The Detroit & Flint Ry. was organized to acquire the Detroit
p. &I. by Des Moines City Int. at Harris, Forbes & Co., New York,and Romeo & Lake Orion, together with the Nor. Dot. Elec. By. andRochester
the Dot.
Ry__ _
_
___ _ntf
Harris Trust & Savings Bank, Chicago.
Utica & Romeo By. The consol. M.Is a let lien on these last tWo prop'ties.
Debentures,$350,000($1,000 1913 6 J-J
250,000 Jan 1 1923
Date.
Interest. Outstanding. Maturity.
and $500)
ntf Int. at Harris Tr.& Say. Bk., Chic.. Trustee
D R R &LO Ry 1st mtge. 1900 5 g J-D
$1,100,000 June 1 1920
Bonds.-Other bonds may be issued for acquisitions and extensions at
sinking fund,gold ($1,000), Interest at American Trust & Savings Bank.
not over 80% of cost and at not over $16.J00 per mile for new road, but only
$1,500,000; unissued bonds
also
Trustee;
Chicago,
Guaranty Trust Co.
when net earnings equal 1% times all int. charges on bonds out and those to
have been canceled
c*
New
be issued. Bonds are subj. to call at 105 and int. A sinking fund of 5% Detroit & Flint let consol M, 1901 York.
5 g F-A
1,400,000 Aug 1 1921
of bal. of annual net earns., after payment of all charges, became operative
g. 33.000,000 ($1,000)._c*1Int. at Tr. Co. of America, N. Y.. Trustee.




37

ELECTRIC RAILWAYS

MAY, 1917.]

MAP OF TILE

DETROIT UNITED RAILWAY SYSTEM
0

INCLTJMNG
Applega

DETROIT & PORT HURON SHORE LINE RY.
(RAPID RAILWAY SYSTEM)

ii

SANDWICH, WINDSOR & AMHERSTBURG RY.
THE WINDSOR & TECUMSEH ELECTRIC RY. CO.
DETROIT, MONROE & TOLEDO SHORT LINE RY.
DETROIT, JACKSON & CHICAGO RY.
DETROIT, ALMONT & NORTHERN R. It.

Croswe

mace

•Blaine

)
s

Atkins

Melvin

CliffO-rd
Brown Cy.

Sarnia

Yale

PERE

voca

„

Lynn c
\S

Vassaf

Fostoria

\
Kings Mills

A

Otterke •

P

0„
.
90

Goalland

RO

PORT

MAR

Mt. &len?
Emmett

\,

rt Huron
It Co.

K' all
Burns. 4
Wales
Lamb

Stanley

ST. CLAIR

The Oakland,
4Coldron Vks.

I M LAY tITY

Martin
Berville
SnIkth's

Ottisville
Attica to
Lapeer

rysville
g Island

Carlton
Idlewild
Summerville
tor
r Road

AL.

Dryden
\ Hunter Creek

0

Flint River Jc.

Metamora
4
4.1)9

.c
tii°

'i‘C\‘

i0isP

e

FLINT

FLINT

Lepuli:d

03
0b

\>

,

Otterburn

(
AeT..0 7A ENS

Grand Blanc
Swartz Creek
Crapo Farm

. • Duffield
anines
GRAND
Dui•T?),d

Cole

(
4side

Eames

A

0
\ Holly
Fenton

c/K

TRUNK

°
Da,visburg

\
%

Bryon

Drayton Plains

V

A I 11

9, Clyde
°)•;,<„

ORCH

S
Howell

11(14

7'

.

Brighton0

chils7

Pettysville
Hamburg Jc

oIosco

,
Whitinore Lake
Han up,

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38

ELECTRIC RAILWAYS

[VoL. 104.

Interest, Outstanding. Maturity.
STOCK AND BONDS- Date.
Bonds.-Of the consolidated mtge.. $1,100,000 are reserved to retire
$330,000. Feb 1 1924
bonds of like amount of he D.R. R.& Lake 0.By.and $500.000 have been Det Yps & Ann Ar cons 1st MI 1899 6 g F-A
$1,000,000, g ($500 & $1,-Int. at Union Trust Co., Detroit, Trustee.
conceied. Consolidated bonds are ubject to call at 100 and interest
000) sinking fund annually
on 60 days' notice. Both issues are guaranteed by the Detroit United
____
6 J-J
60.000 July 1 1919
By.; see form of guaranty in V. 76, P. 1300; as "additional collateral Ypsilanti & Saline 1st M
Of the new Det. Yps. Ss- Ann Arbor & Jackson 1st M. of $2,600,000,
% bonds of the Detroit United
security" on the Flint bonds 1st consol.
are deposited,$ for $, with the Guaranty Trust Co.of New York,and would $990,000 are reserved for underlying liens. First consols cannot be called.
See V. 75, p. 666.
be available in the event of default on the Detroit & Flint bonds.
Bonds.-Bonds of Det. Jack. & Chic. are subject to call on any interest
REPORT.--7-Annual report for 1916 was in V. 104, p. 656.
day at 105 and int. Guar., p. & I., by the Detroit United Rys.; enough
Detroit United RY., Rapid Ry. Sys., Sandw. Wind. & Amherstb. Ry., bonds are reserved to retire bonded debt of the Det. Yps. Ann Arbor & Jack.
Det. Monroe & Tol. Sh. Line Ry. and Det. Jack. & Chic.
Ry. V. 85, p. 345. Of the amount reported outstanding, $520,000 were
1913.
1916.
1915.
1914.
on Dec. 31 1916 in the Detroit United treasury.
Revenue passengers.._ __335,599,802 275,576,409 252,961,221 240,940,133
ROAD.-Completed and in operation from Detroit (through Wayne and
Transfer passengers.._ __119,899,335 98,541,214 85,354,131 74,830,285 Ypsilanti)
to Ann Arbor and to Jackson; making mileage 100 miles, of which
Gross earnings
$16,036,669 $13,235,551 $12,240,004 $12,723,829 40 miles over
private right of way. Total track, 110.1617 miles. Rails
Operating expenses__
11,215,802 9,331,804 8,702,660 8,694,231 70 and 75-1b. T
girder. Does a freight business.-V.84. P. 51. 450.
Net earns,from oper_ $4,820,867 $3,903,747 $3,537.344 $4,029,598
Detroit
Almont & Northern RR.
(5)
Inc. from other sources..
273,728
251,937
351,335
286,815
ORGANIZATION.-Organized under the General Railroad Laws of
Inc.from all sources $5,172,202 $4,190,562 $3,811,072 $4,281,535 Michigan. Is leased for 50 years from 1915 to the Detroit United By..
Interest and taxes
$2,291,410 $2,229,801 $2,166,072 $2.151,058 which owns its entire capital stock.
Dividends
Date.
Interest. Outstanding. Maturity.
(6%%)843,750 (6)750,000 (6)750,000 (6)750,000
BONDSDepreciation charged off
500,000 First mtge gold, 32,500,0001 1915 6 g F-A
294,000
800,000
750,000
$400,000 Feb 1 1940
Contingent liab. reserve.
50,000
100,000
c* Mint.at Union Tr. Co., Detroit, Trus.,& N.Y
($1.000 ic $500)
The bonds are guar. and assumed as a direct obligation, by endorsement,
Total deductions__ _ _ $3,935,160 $3,729,801 $3,260,072 $3,501,058 by the Detroit United By.. which, in the event of any new issue of refund$780,477 ing or general mortgage bonds being placed on the Det. Un. By. or its subSurplus income
$1,237,042
$460,761
$551,000
DIVIDENDS.-First dividend of 1% on Detroit United stock was paid sidiaries, will reserve sufficient new bonds for the retirement of the above
March 1 1901 and 1% quarterly thereafter until Aug. 1 1905, when rate Issue at maturity. Red. on and after Feb. 1 1925 at 103 and int. Rewas raised to 13(% _quarterly. On Nov. 1 1905 131%. In 1906 5%• In maining bonds to bear rate of interest as fixed by the directors when issued
%. None to Mar. 1911. when but not to exceed 6%.
1907, Feb.. 134%: May, 13'1%; Aug.,
% was paid; same amount quer. to and inch Dec. 1912. In March
ROAD.-Extends from Romeo, through Almont to Imlay City, about
1913 to and incl. March 1916, 13i% quar. In June 1916 to and incl. 20 miles; built on private right of way; 70-1b. rails.-V.101. p. 130.
March 1917, 13j%. In June 1917, 2%.
ROAD.-On Jan. 1 1917 operated 874.1889 miles of track, as follows:
Detroit United, including Wyandotte & Detroit River By.. Detroit &
DIXON, ILL.
Northwestern,Detroit& Pontiac, Detroit & Flint, 505.0008 miles; Detroit &
ILLINOIS NORTHERN UTILITIES CO.
Port Huron Shore Line, 136.3900 miles; Sandwich Windsor & Amherstburg
By..41.3420 miles; Detroit Monroe& Toledo Short Line, 81.2944 miles,DeControlled by the Middle West Utilities Co., which see in our "Railway
troit Jackson & Chicago By., 110.1617 miles. Rails,77.85 and 98-1b. steel,. & Industrial Section."
Does an express service. Has 1,609 closed passenger cars, 197 open passenger
ORGANIZATION.-Organized under the laws of Illinois July 31 1916
cars, 287 freight and construction cars. 38 line cars, 91 express cars. 18 mis- as a consolidation of the Illinois Northern Utilities Co. (incorp. In April
cellaneous cars, 4 locomotives, 4,251 motors and 3,565 trucks. There are 1912), Tr -County Light & Power Co. (V. 97, p. 669), and the Freeport
seven power houses, with a combined capacity of 62,050 h. p., 2 storage Railway .Sc Light Co. (see this Section for May 1916). V. 103, p. 496.
batteries, with a combined capacity of 4,500 amperes and 19 sub-stations Operates gas and electric properties in the western half of the northern
with a combined capacity of 19,750 k. w.
part of Illinois adjoining the territory served by the Public Service Corp.
OFFICERS.-Chairman of the Bd., J. 0. Hutchins, Detroit; Pres. & of Northern Illinois. Also operates street railways in Sterling and Dixon and
Gen. Mgr., F. W. Brooks, Detroit; V.-Ps. Arthur Pack, Detroit, E. W. an interurban line between the two cities, total 1st track 16.71 miles, and
Moore, Cleveland, and A. J. Ferguson. Montreal; V.-P. & Treas , Allen 9 miles of track in Freeport. Franchises in Freeport expire March 11923.
F. Edwards, Detroit; Sec.. A. E. Peters, Detroit. General offices, Inter- Has traffic arrangement for 50 years with the Rockford & Interurban By.
urban Bldg., Detroit.-V. 104, p. 163. 559. 656, 1044, 1387.
Co.. allowing cars of that company to enter Freeport.
The P. U. Comm.In Oct. 1916 auth. the issue of $750,000 additional 1st
Li) Detroit & Port Huron Shore Line Ry.-A trolley road.United By. & ref. 5s
(not incl. in amount reported outstanding).
Entire outstanding capital stock is now owned by the Detroit
STOCK AND BONDS-- Date. Interest. Outstanding. Maturity.
ORGANIZATION.-Incorporated in May 1900. Is a consolidation of
Common
stock
$4,635,000
the Rapid Railway Co. the Detroit Mt. Clemens & Marine City Ry.(the
stock 6% cum _____
Q-F
, 2,749,300 May'17,1%
purchaser of the properties of the Mt. Clemens & Lakeside Traction (.o. and First pref
preferred
stock
_
250,000
Second
City
the Detroit & River St. Clair Ry.),the Port Huron St. Clair & Marine
tf 1912 5 g A-0
M gold
4,006,000 Apr 1 1957
By., the Connors Creek & Clinton River Plank Road Co. and the City First and ref Bonds
Underlying
Electric By. of Port Huron. The new company owns the capital stock of
5%
199,500
each road. The consolidated company operates all the tracks in Mt. Clem- De Kalb County Gas
249,500
5g
ens and Port Huron, and the through route from Detroit to Port Huron Sterling Gas & Electric______
83,000
running through Mt. Clemens, New Baltimore, Algonac, Marine City and Miscellaneous issues
1903 5 g M-N
291,000
See text
St. Clair. Also owns the capital stock ($25,000) of the Detroit & Lake Freeport Ry Lt & P 1st mtge American
Tr. & Say. Bk., Chicago, trustee.
c*
$350.000 g (31,000)
St. Clair By.
140,000 Nov 1 1935
Freep Ry & Lt mtge $2,000,- 1910 5 M-N
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
000 g ($100,$500 & $1,000) Int. at Cont.& Comm.Tr.& S. B.,Ch.,trus.
$2,000,000
Stock, $2,500,000 ($100)----- - _
Stock.-In addition to amounts reported outstanding, $365,000 common
2,497,000 Jan 1 1950 and
1st mtge,$2,500,000 ($1,000){ 0150 5 g J-J
$192,000 first preferred stock are in treasury.
cannot be called,gold_c*&r Union Trust Co. Detroit. Trustee.
Bonds.
-The 1st & ref. M. bonds of 1912 are red. at 105. Additional
Int. at American Exch. Nat. Bank, N. Y.
Bonds.-Remaining $3,000 1st M. bonds are set aside to retire the bonds amounts may be issued (a) $963,000 to refund underlying bonds (b) in
of the Port Huron St. Clair & Marine City By. V.98,p. 1693; V.99, p.119 exchange, par for par, for mortgage debt existing at time of acquisition of
properties acquired in the future; (c) for expenditures made in acquiring
Port Huron St. Clair & Marine City Railway.
future property to extent of 75% of cost thereof. V. 94, p. 1383; V. 95.
Date.
Interest. Outstanding. Maturity. p. 1123.
BONDS$3,000 Mar 1 1920
1st mortgage, gold, $300.0001 1900 5 M-S
Int. on F. R. L.& P. bonds is payable at offices of Cont.& Comm.Trust
JUnion Trust Co., etroit, Trustee.
($500 and $1,000)
& Say. Bank, Chicago. Are subj to call by lot at 105 & int.; $59,000 have
The remaining $297,000 bonds have been Canceled; $1,000 in Detroit been retired. Maturity of bondsas
follows:$5,000 due May lin each of
is
United Ry. treasury as of Dec. 31 1916.
•the years 1910, 1912 and 1913 and $5,000 annually from 1915 to 1921 incl.,
provides for the payment of $2,000 per
in
1922.
A
sic.
fd.
remainder
the
Detroit & Lake St. Clair Ry. Co.
for first 10 yrs. and $5,000 per ann. thereafter. Of the Freep. By. &
Interest. Outstanding. Maturity. ann.
Date.
BONDSbonds, $350,000 are reserved for prior liens. They are subject to call
$390,000 April 1 1920 Lt.102%
1st mortgage, $400,000, gold i 1900 5 g A-0
on 30 days' notice from 1915. Sinking fund began in 1915; may be
c*fInt. at Union Trust Co., Detroit, Trustee. at
($1,000)
used for impts.. &c. V. 91. p. 716.
Bonds.-The bonds are guaranteed, principal and interest, by the Detroit
Dividends.-On pref., 13- % quer. paid Nov. 1912 to May 1917.
& Port Huron Shore Line Ry.,the Rapid Railway Co. and the/Detroit Mt.
EARNINGS.-Of Illinois Northern Utilities Co. and Sterling, Dixon &
Clemens & Marine City Ry. They are not subject to call. Of the $390,000 Eastern Electric Ry. for 5 mos. ending Dec. 31 1916: Gross, $536,1.57;
reported outstanding.$100,000 were held by the Det. Unit, Dec.31 1916.
net, $227.638; interest,• rentals, &c., $123,054; pref. divs., $41,240;
surplus, $63,344.
ROAD.-Total Det. & Port Huron System, 136.3900 miles.
OFFICERS-Pres., Samuel Insull; V.-P., E. D. Alexander; Sec. &
EARNINGS.-Now included in report of Detroit United Ry.-V.77, p•
Treas.. John H. Gulick; Asst. Sec. & Asst. Treas., R. W. Waite; Aud.
34; V. 84. p. 338.
L. E. Jacobson.-V. 102, p. 1163; V. 103, p. 496; V. 104, p. 1145.
(2) Sandwich Windsor & Amherstberg Ry.-Trolley.
ORGANIZATION.-Incorporated under special charter from Province
of Ontario. Owns entire capital stock ($100,000) of the Windsor & TecumDOYLESTOWN, PA.
seh Electric By. Entire stock of Sand.Winds.& Amh.is owned by Det. Un.
PHILADELPHIA .5c EASTON ELECTRIC RV. CO.-A trolley road.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Receivership.-On April 5 1912 Judge Ryan in Bucks County Court ap$297.000
Stock, $350,000 ($100)600,000 Dec 1 1922 pointed A. H. Sickler (Pres. of Co.) and Godfrey Schmidhelser of Phila.
Consol Mtge, gold, $600,000 1902 4% g J-D
c* National Trust Co., Ltd., Toronto. Trustee. receivers. V. 94. P. 699, 1057.
gold ($1.000)
Wind Sc Tea El, $300,000, 1907 5 g M-S 2
189,000 Sept 2 1927
ORGANIZATION.-Organized in 1907 as successor to the Philadelphia
gold ($1.000) gu p & i c* National Trust Co., Ltd.. Toronto, Trustee. & Easton By. (formerly the Doylestown & Easton Street By.), sold at
Bonds.-S. W.& .Amh. bonds are subj. to call after Dec. 1 1912 at 105. trustee's sale May 31 1907.
By.
treas. Dec. 311916.
$110,000 of the bonds were in the Detroit United
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Windsor & Tecum. bonds are guar., p.& I. by Sand. Windsor & Amherstb.
$265.000 ($50)
$258,800
By. They are red. on and after Sept. 2 1917 at 105 and int. on 60 days' Common,
non-cum
Pref.
5%
_
3365,000,
353,800
notice. Interest on both mortgages is payable at company's office.
911,000 Sept 1 1927
(31,000,1 1907 5 g M-S
ROAD.-Operates 41.3420 miles of track in and between Windsor. Walk- 1st M, $1,000,000
16500 and $100), gold_ _ _ctlInt. at Girard Trust Co., Phila., Trustee.
erville, Sandwich and Amherstberg, including City By. of Windsor (2.62
Stock.-Preferred shares have no voting power.
miles). operated under lease.-V.75. p. 1303. 1400.
Bonds.-Notsub. to call and no sink.fd. Int.was 4% to Sept.'11; now 5%.
EARNINGS.
Line
Ry.
Monroe
&
Toledo
Short
(3) Detroit
-For year ending Dec. 31 1916, gross, $108,658; net,
$24,820. In 1915, gross, $102,169; net, $23,721.
ORGANIZATION.-Incorporated in Michigan on Dec. 11 1902.
In Feb. 1906 entire stock was acquired by Det. Unit. By. V.82, p. 392.
ROAD.-Operates 31 miles of road between Doylestown and Easton.
STOCK AND BONDS- Date.
Interest. Outstanding. 'Maturity. Operates 8 cars.
Stock, $3,000,000
$2,581,0001
OFFICERS.-Pres., A. H. Sickler, Phila.;
Amos Johnson; Sec.
2,941,000 Jan 1 1933 W.S. Chambers, Doylestown; Treas., H. G. Rush,
V.-P.,Lancaster.-V.85. 1:)•
1st mortgage, $3,000,000.1 1903 5 g J-J
c*JUnion Trust Co., Detroit, Trustee.
gold ($1,000)
470; V. 94, p. 699, 1057.
Bands.-Interest is payable in New York. No sinking fund and bonds
are not subject to call.
DU BOIS, PA.
ROAD.-Operates 50 miles of road from Toledo to Detroit and 4 miles of
road from Monroe to Lake Erie; completed Nov. 5 1904. At Toledo conDU BOIS ELECTRIC & TRACTION CO.-In Nov. 1916 control was
nection is made with the Lake Shore Electric By. for Cleveland. Is of acquired by the Keystone Utilities Co., which see under Scranton. Pa.
steam road construction, on private right of way; standard gauge,laid with
ORGANIZATION.-Incorp.in New Jersey on Nov.15 1901 as the Amer70-lb. Trails. Total track, 81.2944 miles.-V.82. p. 392; V. 98, p. 235.
ican Town Light Co. and name changed later as above. Owns all of the
stock of the Du Bois Elec. Co. and the Du Bois Trac. Co. V. 76, IL 972.
(4) Detroit Jackson & Chicago Ry.
Franchises for both street railway and electric-lighting are perpetual and
ORGANIZATION.-A holding co. organized in Mich.in 1907 by Detroit exclusive.
United Interests to take over the Det. Ypsil. Ann Arbor & Jack. Ry., the
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Jack. Ann Arbor & Det. By. and the Det. Plym. & Northville By., paying Stock,
$300,000 ($100)______
$300,000
therefor $1,230.000. Entire stock owned by Detroit United By.
Collet trust mtge, 5300.0001 1002 5 g M-N
297,000 May 1 1932
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
($500). gold
c*ntfl Int. at Columbia Trust Co., N. Y., Trustee.
Stock ($100)
'5614,006
Bonds.-No sinking fund, but subject to call at any time at 105 and int.
First consol mtge,$4.000,000 1907 5 g F-A
1,400,000 Feb 1 1937
EARNINGS.-For year ending Dec. 31: Gross, 3130,120; net (after
c* Int. at Security Trust Co.. Detroit. Trustee.
($1.000). gold
$45,935; interest, $24,126; surplus, $28,987. In 1915, gross. 3109.5 g F-A
1.610,000 Feb 1 1926 taxes),
1st cons M Det Y A Ar&Jack 1901
net, after taxes, $35,070.
681;
$2,600,000(3500,31.000)gc* Int. at Detroit Trust Co.. Detroit, Trustee.
OFFICERS.-Pres., S. G. La Bas; V.-P., W. W. Faunce; Sec., W. H •
D Y & A Ar 1st M (3600,000) 1897 6 g M-N
600,000 Nov 1 1917
gold ($500 or $1,000 each)_ Int. at Union Trust Co., Detroit, Trustee. Davis; Treas., B. B. McCreight. V. 89, p. 1667; V. 103, p. 2340.




39

ELECTRIC RAILWAYS

MAY, 1917.]
DUBUQUE, IOWA.

DUBUQUE ELECTRIC CO.
ORGANIZATION.-Organized in Delaware June 3 1916 and acquired
the Union Electric Co.,of Dubuque,(see "Elec.Ry." Section for May 1916).
Does the entire electric lighting, power and street railway business in Dubuque and vicinity. Owns East Dubuque Elec. Co.,serving East Dubuque
Ill. Also sells power to the Eastern Iowa Light & Power Co., serving 6 or 8
communities within easy transmission distance of Dubuque.
-Outstandinr'.
tonigfrorfrATBiron3g="-Dcier.-nliaresi:
$682,000
Cora stock $2,000,000 ($100)_ - Q-M
800,000
Pref6% cum $2,000,000(S100)
$1,-{
&
June 1 1925
1916
J-D
5
(3500
2,350,000
$6,000,000
18t M
000) red at 101 & int on Int. at Chicago or New York. Central
Trust Co., of Illinosis, Trustee.
cpt
60 days notice
Stock.-Pref.stock is callable at 110 and divs.and has equal voting power
with common. V. 103, p. 410.
Bonds.-Secured by an absolute first and only mortgage on all the co's
properties, rights and franchises. Addl bonds may be issued for only 80%
of cost of permanent add'ns and impts. and then only when net earns, for
preceding 12 months have been at least 1% times the int. on bonds outstanding and those to be issued. Sinking fund from June 11917, 10% of
gross earns., either to purchase bonds or call them at 101 and int.,or for
&c. V. 103, p. 410.
EARNINGS.-For year ending March 31 1917, gross, $614,401; net,
after taxes, $224,466. In 1915-16, gross, $540,000; net, after taxes,
$230,572.
PROPERTY.-Power station with 9,500 k. w. generating capacity;
about 220 miles of transmission and distributing lines; 20.7 miles of track
in city and suburbs, substantially all 70-113. rail; 90 cars.
OFFICERS.-Pres.. I. 0. Elston, Jr., Chicago; V.-P., H. B. Maynard,
Dubuque, Ia.-V. 103, p. 410.

The Ohio P. U. Commission has been asked to approve a lease of the co.'s
light and power department to the Ohio River Power Co. until Ozt. 11919.
at a rental of $90,000 a year, with privilege of purchase for 11,500.000
(another report says 31.875.000)•
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$3,000,000
Stock,$3,000,000 ($100)
2,210,000 Jan 1 1927
First mortgage, $3,000,000 1907 5 J-J
($1,000),gold
c Int. at Commercial Tr. Co., Phila.. Trustee.
Reuben Trac & Lt 1st mtge, _ __
790,001I May 1 1926
5 g M-N
$1.000,000 ($1,000). g_ _c* Ini. at Metropolitan Tr. Co.. N. Y.,Trustee
Bonds.-Of the new 13,060,000 bonds, $790,000 are reserved to retire
prior liens. Cannot be called. Steubenville Trac. & Light bonds are
guaranteed. principal and interest. by American Gas Co.
EARNINGS.-For year ending Dec. 31 1916, gross, $376,817; net, after
taxes, $112,778. In 1915, gross, $333,697; net, after taxes, $39,073.
ROAD.-Owns and operates 41.04 miles of track in and between Steubenville and Toronto, thence to Wellsville. 85-1b. rail. 17 closed and 14
open cars. Also electric-light and gas plants and pleasure park of 85 acres.
OFFICERS.-Pres., Edw. McDonnell; Sec. & Treas., H. Armstrong;
Gen. Mgr.,B. J. Jones, all of Steubenville,0.-V.93,p. 165;Y. 104,p.164.
OHIO RIVER PASSENGER RY.
ORGANIZATION.-Incorporated in Pennsylvania. Was leased to the
Steubenville Wellsville & Weirton Ry. Co.. but lease was canceled.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,000,000
Stock. $1,000,000 ($50)1.000,000 Jan 1 1957
First mtge. $1.000.000, gold_- 1907 5 J-J
EARNINGS.-For year ending Dec. 31 1916, gross, $117,433,• net, after
taxes, $32,696. In 1915, gross, $83,986; net, after taxes,$15,510.
BOA D.-Connects Rochester and Beaver. Pa.. and East Liverpool. 0.
Length of line, 22.48 miles.
OFFICERS.-Pres., Edw, McDonnell; Sec. & Treas., H. Armstrong;
Mgr., B. J. Jones, all of Steubenville, 0.

DULUTH, MINN.
DULUTH-SUPERIOR TRACTION.-Trolley.
ORGANIZATION.-Incorporated in Connecticut in 1897. Owns entire
stock of the Duluth Street By., the Lakeside Street By. and the Superior
Rapid Transit. The corporate existence of the Duluth Street By. is maintained, but all of its stock ($2000,000 authorized. $1,800,000 outstanding)
is held by the Duluth-Superior Traction. This latter company has no
bonded debt. The Duluth Street By. was organized under Act of Minnesota approved Nov. 17 1881 and possesses "an exclusive franchise" which
See decision with regard to franchises in Superior
runs until 1931.
The Duluth-Superior Bridge between Duluth,
in V. 80, p. 1911.
Minn.. and Superior. Wis.,is used by the railway but is a separate corporation, and has issued 1st M.bonds for $650,000 and 2d M. bonds for 1300.000
-see bridge items. V. 63. 13. 310, 504. In 1903 entered into contract with
the Great Northern Power Co. to supply sufficient power to operate the
street railways in both cities. The delivery of power was begun in 1908.
Franchise Decision.-On May 23 1914 Judge Cant in the State District
Court handed down a decision favorable to the company in the suit brought
by the city of Duluth to cancel the franchise granted to the Duluth Street
Ry. on Nov. 17 1881(V. 98, p• 1694),and this decision was affirmed by the
Minnesota Supreme Court on Jan. 29 1915. V. 100, p. 473.
Decision.-On June 12 1916 the Wisc. RR. Comm. rescinded its order
of Nov. 1912 requiring the Duluth St. By. to establish a rate of 6 tickets
for 25c. on its Superior lines, in addition to the 5-cent cash fare in force.
Interest. Outstanding. Maturity,
STOOK AND BON DS- Date.
q: $3,500,000 See text
Common,13.500,000 4100)- - ----J
1,500,000 Apr.'17,1%
Pref 4% cum,$1,500,000($100) Duluth St Ry Al,$2,500,000, 1900 5 g &N 2,600,000 May 1 1930
c*tf Int. at Cent. Trust Co., N. Y. Trustee.
gold ($1,000)
1,042.000 M'ay 1 1930
Dui St Ry gen M $2,500.000,j' 1910 5 M-N
gold ($1,000) sk fd_c*cpt Int. at Central Tr. Co., N. Y., Trustee.
Stock.-Both corn. and pref. are listed on N.Y.Stock Exch. V.90, p.848.
the
all
covers
mileage
of
the Duluth Street By,
Bonds.-The mtge. of 1900
the property of the Lakeside St. By. and of the Superior Rapid Transit
having first been conveyed to the Duluth St. By. The gen. mtge. bonds are
subj. to call on any int. day at 105 and int. $107.000 have been canceled.
Remaining bonds may be issued for additions, extensions, &c., under conservative restrictions. They are guar., p.& i., by Duluth-Super. Trac. Co.
Sinking fund of 2%% per annum of bonds out began May 1913. Exempt
from personal tax in Minnesota. V. 90, p. 1296; V. 91, p. 276; V. 92, P•
186; V. 104, p. 1044.
Dividends.-On the pref. stock 4% p. a. is being paid. On corn.. 1st div.
-1%---Oct. 1909. Same amount guar. to and Incl. July 1910,• in Oct.
1910, 1%%. Same amount guar. to and incl. April 1913. In July 1913
reduced to 1% (V.96. p. 1772): same amount quer. to and incl. Jan. 1915.
April div. omitted (V. 100, p. 900); payments changed to semi-annual
basis and a div. of 1% paid July 1915 (V. 100, p. 1437). None since.
ROAD.-The system embraces about 89.19 miles of track and includes all
the lines in Duluth and Superior. An extension to the new U. S. Steel
Corps.' plant located about 3% miles beyond the co.'s western terminus.
was completed and placed in operation June 12 1916. 135 passenger and
12 other cars.
REPORT.-For calendar years (1916 report in V. 104, P. 1795)•
Net (after Int. cY,1 Pf.Divs. Common
Gross
Calendar
Balance.
Year- Earnings. Deprec.) Taxes. (4%). Dividends. Surplus.
1,424,429 $509,856 $239,954 $60,000
$
1916
2
422
1:90
1915-------1,179,960 338,952 242,530 60,000 (1%)$35,000 209
In 196 carried 28,081,851 revenue and 4,577,429 transfer passengers,
against 23,185,970 and 4,035,752 in 1915.
OFFICERS.-Chairman of the Board, A.E. Ames;Pros., A. M.Robertson; V.-P., Edmund Za.cher; V.-P. & Gen. Mgr., Herbert Warren; Sec. &
Treas., S. L. Reichert.-V. 102, P. 1060, 1244; V. 104, p. 1044, 1795.

EAST LIVERPOOL, OHIO.
EAST LIVERPOOL TRACTION & LIGHT.
Was leased to Tri-State By. & Elec. Co., but lease was surrendered
April 1 1914 (V. 101, p. 924).
ORGANIZATION.-Incorporated in Ohio on Sept. 30 1905 and is a
consolidation of the following companies (see V. 81. P. 1791):
Ceramic City Light Co.
Glasgow RR.
Chester Lighto& Power Co.
Island Run Coal Co.
East Liverpool By.
People's Light Sr Power Co.
East Liverpool Bridge Co.
United Power Co.
East Liverpool & Rock Spgs. st. By. Wellsville Electric Light Co.
Eastern Ohio RR.
The Rock Springs Park.
Franchise extends to 1950.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
Common,$2,500,000 ($100)_ _
$2,500,000
500,000
Pref.,5% n.c.,3500,000(1101 _ _ _
First mtge., $3,000,000. gold 1905 5 g M-N
2,850,000 Nov 1 1925
c Int. at Union Trust Co.,Pittsburgh, Trustee
($1,000)
mtge
first
Ry
150.000 June 1 1917
East Liverpool
Bonds.-Of the $3,000,000 first mortgage of 1905. $150,000 are reserved
to retire like amount of East Liverpool By, bonds. Are subject to call on
105.
any interest date at
EARNINGS.-For year ending Dec. 31 1916 gross, $555,009; net (after
net (after $30,754
'
$34,464 taxes), $184,631. In 1915, gross, $441,215;
taxes), $04,205.
ROAD.-Owns and operates 35.85 miles of track in and between East
Wellsville.
Standard gauge, 73-lb. girder and T rail. At
Liverpool and
Wellsville connects with the Steubenville & East Liverpool By.& Light Co.
and at East Liverpool with the Ohio River Pass. Ry. By traffic agreements with these two companies operates a through line between Steubenville, 0., and Beaver. Pa. 55 cars.
OFFICERS.-Pres.,C. A. Smith, Chester, W. Va.; V.-P.,Edw. M. M.
Mills; Gen. Mgr., R. J. McElravy, Chester, W. Va.; Sec. & Treas., Geo.
H. Faulk, East Liverpool.-V.90, P. 1490; V. 93, p. 163.
STEUBENVILLE & EAST LIVERPOOL RAILWAY & LIGHT CO.
Was leased to Tri-State By. & Elec. Co.. but lease was surrendered
April 1 1914 (V. 101, p. 924)
ORGANIZATION.-Incorp.in Ohio April 1906 as successor to the Steubenville Trac. & Light Co.which in Jan. 1901 had taken over the Steubenville Gas & Elec. Co. and 'the Steubenville Trac. Co. Owns the Pleasant
Heights line. Light franchises perpetual; street railway franchises expire
1925 to 1928. Bonds listed on the Philadelphia Stock Exchange.




EASTON, PA.
NORTHAMPTON TRACTION CO.
ORGANIZATION.-Incorp. in Penn. Oct. 3 1902 as a consolidation of
the Easton & Nazareth By. and Easton Tatamy & Bangor Street Ry.
Owns practically all the stock ($1,250.000) of the Northampton Easton &
Washington Trac. Co.(see that company below). Franchises perpetual.
In the latter part of 1915 absorbed the Bangor & Portland By.operating
834 miles between the points named, and issued $137,000 additional ref. &
cons. bonds to effect the merger. V. 102, p. 345.
Interest, Outstanding, Maturity.
STOCK AND BONDS- Date.
$500,000
Stock, $500,000 ($50)349.500 Jan 1 1933
I 1903 5 g
First mortgage $400,000
fInt. at Northampton Tr. Co.(Easton) Trus.
gold
5%
437.000 Jan 1 1942
1912
Ref & cons mtge
Bonds.-A sink, fund of 10% of net earns. Is now open. on Northampton
Trac. 1st M.bonds, but bonds cannot be called.
EARNINGS.-Combined earnings of Northampton Trac. Co. and
Northampton-East. & Wash. Trac. for year ending Dec. 31 1916, gross.
$200.070; net, after taxes, $85,043; charges, $44,450; surplus, $40,593.
ROAD.-Operates 3334 miles of track from Easton to Tatamy. Nazareth.
Bangor and Portland, chiefly on private right-of-way. Standard gauge.
65, 70 and 80-lb. steel rail.
OFFICERS.-Pree.. David King; Treas.. Wm. L. Doyle: Gen. Mgr.,
W.0. Hay.-V.92. p. 726; V.94,P. 1384; V. 102. p. 345.
(1) Northampton•Easton & Washington Traction Co.
ORGANIZATION.-Incorp. In 1910 in New Jersey and Is controlled
by the Northampton Trac. Co. (see above).
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
11.250.000
Stock $1.250.000($100)_
539.000 May 1950
5%
(closed) g (1100,1 1910
1st M
$500, $1,000) ____s f c*tt Bankers Trust Co.. New York, Trustee.
200,000 Jan. 1 1942
Refund & consol mortgage 1912 5%
Easton Trust Co.. Trustee.
11.000.000
Bonds.-Northamp.-East. & Wash. Trac. bonds are callable, in whole or
in art. from May 1 1915 until 1925 at 110; thereafter until 1935 at
10714; thereafter until maturity at 105 and int. Mtge. Is closed. Sink.
fun 1% annually of avge. amount of all bonds out from 1915 to 1925: 134%
to 1940 and 2% thereafter. Bonds are unconditionally guar.. p. & 1..
by Northampton Trac. Co.(V.92, p. 726). Int. payable at office ofP. W.
Brooks & Co., Inc., N. Y. City.
There are deposited to secure the Northamp.-East. & Wash. 1st M. 5s
the following bonds of the Northampton Traction Co.: 144.000 1st M..
$100.000 2d M.(entire Issue) and $81.500 gen. M.(entire issue).
EARNINGS.-Net earnings of the combined properties for the year
ending Dec. 31 1916. after deducting interest on the old bonds, were
$67.543, or over 254 times the annual int. charge ($26,950) on the $539,000
1st 5s outstanding.
ROAD.-17 miles of track from Phillipsburg, N.J.,to Washington, N.J.

EAST ST. LOUIS, ILL.
THE EAST ST. LOUIS & SUBURBAN CO.
REORGANIZATION. &C.-As per plan in "Chronicle- of Dec. 20
1913. p. 1822. this company was incorporated Jan. 7 1914 In Delaware to
succeed the old East St. L011113 & Suburban Co. of N. J.In Oct. 1914 auth.
capital of the latter was reduced from $14,000.000 to 11.000.000. consisting
of 160.000 pref. stock and $940,000 corn. stock. See V. 100, p. 474.
Owns all the outstanding capital stocks (with the exception of directors'
shares) and bonds as stated of the following companies. The amounts
pledged with the St. Louis Union Trust Co. as collateral for the East St.
Louis & Suburban Co. coll, trust bonds are also shown.
Stock
Bonds
Pledged.
Owned.
Pledged.
Owned.
East St. L.& Sub. Ry. Co__$3,850,000 $3.824,300 $4,000.000 $3,834,000
1.889,700 1,805,500 1.889,000 1.799.000
East St. Louis By. Co
500.000
500.000
499,500
St. L.& E.St. L.El. Ry.Co. 500.000
750.000
750.000
St.L.& Batley.El. By.Co_
976,500
733.000
East St.L.Lt.& Power Co
157.000
Alton Gran.& St. L. Tr. Co.. 3.000.000
Alton Gas & Electric Co_ --- 500.000
These companies own and operate all electric railway lines in East St.
Louis and Alton and interurban lines to Belleville. Edwardsville, Collinsville, Caseyville,()Tenon, Maryville. Lebanon, Brooklyn, Venice, Madison. Granite City and Alton, and the only electric line across the Eads
Bridge. connecting East St. Louis with St. Louis. Cars are operated over
this bridge under a 50-year exclusive contract expiring in 1952. Through
arrangement with Illinois Traction Co. the interurban cars from Alton are
run into their terminal in St. Louis. Also do entire electric lighting and
power business in East St. Louis and the electric, gas and steam heating
business in Alton. A large coal business is also carried on.
Franchises in East St. Louis, Edwardsville, Collinsville and Belleville
expire in 1947. 1948 and 1952: Lebanon and O'Falion in 1922: Caseyville,
1919. The Alton railway,electric light and power franchises expire in 1948:
the Alton gas and steam heating franchises are perpetual; Granite City and
Madison franchises expire in 1925; Venice in 1920; Brooklyn in 1921. The
interurban line to Alton, outside of city limits, is nearly all on'private right
of way. County franchises covering remaining suburban lines expire from
1919 to 1948. Electric light and power franchise in East St. Louis expires
2007.
Outstanding. Maturity.
tst
te.
STOCK AND BONDSCommon. 510,000.000 ($100)- ------------$6,000,000
See text
First pref. 69' cum
6,000,000 May
Preferred $6.000,000 (1100)If
5% CUM
2.094.000 Jan 1 1919
Convert bonds 13.000.000 1914 6 J-J
(11.000.1500 & $100)-c*tf Penna.Co.for Ins.on L.& Gr. Ann..Phila..
trustee. Int. at office of company.
8.000,000 April 1 1932
Collateral trust mortgage $8.- 1902 6 g A-0
000.000 gold ($1,000)-c* tf Interest at St. Louis Union Tr. Co.. Trustee,
or at E. W. Clark & Co., Philadelphia.
64.000 See text
E St L & Sub Ry impt debs 1916 5 J-D
$111,000 ($1,000)____c*.tf Int. at office of company in East St. Louis.
2,483.000 Aug 1 1944
A G & St Louis Trac Co 1st 1904 5 g F-A
consol M. $3.000,000 gold Int. at Illinois State Tr. Co. East St. Louis,
Trustee, or at National City Bank, N. Y.
c* tf
($1.000)
250.000 Oct. 1 1939
Alton By & Illnm first mtgel 1895 5 g A-0
$250.000 g ($1.000) c*tflint. at Bankers Tr.Co.. N.Y trusted.

40

. ELECTRIC RAILWAYS

STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Alton Ry Gas & Electric Co( 1899 5 g A-0
$250,000 Oct. 1 1939
mtge $500.000 ($1,000) Int. at Equitable Tr. Co., N. Y., trustee.
gold (closed)
contt t No sinking fund; bonds cannot be called.
east St L Lt & Pow 1st Mr 1910 5 g J-D
973,000 June 1 1940
g. guar p & I ($1,000)OM Int. at Mercantile Tr.Co.. St. Louis. Trustee,
I Chase Nat. Bk., N. Y., and at co.'s office.
Stock.-The 5% cum. pref. may be exchanged at any time for 50% of
6% cum. pref. and 50% com. stock. The 6% pref. takes precedence both
as to dividends and assets over the 5% pref. and the common stock. V.
97, p. 1822; V. 98, p. 304, 155. Remaining $4,000,000 common stock reserved for conversion of 5% pref. stock and convertible bonds.
Bonds.-Coll. trust bonds are redeemable on any int. day at 105 and.
Int. on 4 weeks' notice. See V. 76. p.382. The convertible 5s are convertlbw any time before July 1 1918 into an equal amount of 6% cum. oref.
stock and in addition 33 1-3% in new common stock. The remaining
$906,000 may be issued at any time. The East St. L. & Sub. Ry. impt.
debs. mature $10,000 each June and Dec. to Dec. 11921. $74,000 have
been issued, of which $10,000 have been retired. $500,000 of the Alton
Granite & St. L. Tr. 1st consols are reserved for prior liens and $17,000 for
exts., &c. They are also a lien on property of Alton Gas Sr Elec. Co.
which was owned by the Alton Granite & St. Louis Trac. Co., when the
mtge. was made. $566,000 of the bonds have been assumed by the Alton
Gas & Elec. Co. No sinking funds, but bonds are subject to call on any
Int. date at 110 and int. upon 90 days' notice. The Alton Ry.& Illum. 1st
M. 5s originally matured Oct. 1 1915. but were extended to October 1
1939. East St. Louis Light & Power bonds are guaranteed, principal and interest, by end., by East St. Louis & Sub. Co.; callable at 105 and
Int. on 30 days' notice. Auth. issue unlimited, but additional bonds are
Issuable only for 80% of the cost of add'ns and imp'ts, and then only when
net earns, are at least 134 times int. charge on bonds out as well as those to
be issued.
Dividends.-5% per annum was paid quarterly on old pref. from its issue
May 1 1906 up to and including Feb. 1914. On new pref. 1st div.-1 g%was paid May 1914; Aug., 1317; Nov., 131%. In 1915, Feb., 131%; in
May rate was reduced to %% (V. 100, p. 1437); same rate quarterly since
to and ind. May 1917.
EARNINGS of operating companies for 12 months ending Dec. 31:
YearGross.
Net,aft. Tax. Int.,&c.
Pref. Divs.
Surplus.
1916
$3,027,699 $1,206,925 $755,033 (3%)$180,000
$271,892
1915
2,466,969
993,377
756,315 (33) 210,000
27,062
ROAD,&c.-Operates 192.518 miles of single-track, of which 3.835 miles
operated under lease. Has 172 passenger cars, 4 express cars, 830 freight
cars, 19 work cars and 3 snow sweepers,2 electric and 2 steam locomotives.
Has 3 power stations with 16,940 k. w. capacity.
OFFICERS.-Pres., C. M. Clark; V.-P., II. L. Clark; Sec., G. L. Estabrook; Treas., T. W. Gregory; Asst. Sec., C. A. Pearson Jr. Under the
management of E. W. Clark & Co. Mgt. Corp.. Phila.-V. 100, p. 474.
1437, 2084; Y. 104, p. 1263.

[VoL. 104.
ESCANABA, MICH.

ESCANABA TRACTION CO.
ORGANIZATION.-Reorganization in Aug. 1909 of Escanaba Electric
St. By. and Escanaba Power Co. Controls the Escanaba Pulp & Paper
Co. Does electric light and power business in Escanaba. Gladstone and
Wells, Mich. Is allowed to carry freight.
STOOK AND BONDSDale.
Interest. Outstanding. Maturity.
Stock $500,000
$500,000
1st & ref mtge $600,000 gold 1909
5 J-J
560,000
See text
_ca_cot Int. at First Say. & Trust Co., Milwaukee
($1,000)
Second mtge, $200,000 gold 1909
5 g A-0
200,000 Jan. 1 1934
($100 & $1,000)_c*&r_cpt Michigan Trust Co.. Grand Rapids, Trustee.
Red.at 103 and interest..__ Int. at First Trust Co., Milwaukee.
Bonds.-lst & ref. bonds mature $10,000 annually from 1914 to 1933,
incl., remainder in 1934. $40,000 have been retired. They are subject to
call at 103 and int. on any int. date. Michigan Trust Co.. Grand Rapids.
trustee. V. 92, p. 1564; V. 103, p. 406.
EARNINGS.-For years ending Dec. 31:
YearGross.
Net.
*Oth. Inc. Interest.
Surplus.
1916
$142,141
$77,023
$18,614
$38,857
$56,779
1915
124,784
71,997
10,931
31,303
51,625
*Earnings from Escanaba Pulp & Paper Co.
ROAD.-Owns and operates street railway In Escanaba and an interurban road to Gladstone, which was placed in operation in July 1910. Power
plant capacity, 7,900 h.p. A new dam on Escanaba River. providing
3.400 additional h.p., was completed Jan. 1 1916.
OFFICERS.-Pres., J. K. Stack: V.-P., J. 0. Kirkpatrick; Sec. & Gen.
Mgr..P.L. Utley; Treas., M.N.Smith, all of Escanaba.-V.103, p.678.

EUREKA, CAL.
HUMBOLDT TRANSIT CO.
ORGANIZATION.-Incorporated in California July 31 1903.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $1.000.00 ($100)$169,000
1st mtge $1,000.000 (31.000)1 ___
5 g A-0
180,600 Oct 1 1934
gold
c&r_ntif Union Trust Co. of San Fran., Trustee.
Bonds are not subj. to call. A sk.fd. of 2% of bonds out began Oct. 1910.
EARNINGS.-For year ending Dec. 311916. gross, $78,181; net, after
taxes, $3,870; deductions, $14,513; deficit, $10,643.
ROAD.-Comprises 13 miles of track in city of Eureka. 45-60-lb. T rails.
OFFICERS.-Pres.. Wm. Butterworth; V.-P.,0. P. Pomeroy; Sec. and
Treas.. Horace R. Hudson; Mgr.. J. W. Hale.

EVANSVILLE, IND.

EVANSVILLE RAILWAYS CO.
ORGANIZATION.-Incorporated in Indiana in August 1907 to control.
the Evansville & Eastern Electric By.. the Evansville & Mt. Vernon Eleetric By. and the Evansville Terminal By. In April 1913 absorbed these
lines outright and acquired the capital stock of the Henderson Trac. Co.
ELMIRA, N. Y.
the Owensboro City RR. V. 96, p. 1488.
and
ELMIRA WATER. LIGHT & RAILROAD CO.-Controlled by the
Aug. 25 1911 the Evansville Henderson & Owensboro By. was Incorp.
United Gas & Elec. Co.-See United Gas & Elec. Corporation under N. Y. In On
Indiana (corn. stock auth. and out. 350,000-all owned by Rvansy.
ORGANIZATION.-Incorp. in New York May 26 1900 as a consolida- Rya.' pref.. $250,000 auth.. 8203.000 out.) to build a line from Evansville
tion of all the water,lighting, power and street railway properties in Elmira. to Henderson and ultimately to Owensboro. New company has leased
Owns entire cap. stock of Rorfck's Glen Park Assn. and majority of stock of 634 miler of Illinois Central tracks between Evaneville and Ilenderson and
West Water St. RR. The latter co. operated under 999-yr. leases. In April has electrified same. Line was placed in operation from Evansville to
1913 it was stated that all franchises have at least 72 years to run, while Henderson July 28 1912. V. 93. p. 730.
some of them are perpetual. In Feb. 1910 was auth. to acquire all stock
In April 1913 Increased its auth. common stock from 31.000.000 to $2,of Montour Falls Electric Light Co. In Sept. 1914 absorbed the West Side 000.000. V. 96. P. 1156.
RR., all of whose stock was owned. V. 99. p. 815.
Reorganization Plans.-The company having been unable to pay the int.
On Mar. 17 1914 the stockholders authorized the creation of $3,000,000 on the Evansville Term. 1st 58 duo Jan. 1 1917 and on the hvansville &
7% cum. first pref. stock.
Eastern Elec. Ry. 1st 5s and Evansville & Mt. Vernon Elec. By. lot 5s due
In 1915 sold the water supply system to the city of Elmira for $1,500,000. Apr. 11917, the bondholders' committee named below was formed
dethe proceeds, together with the proceeds from the sale of $232.000 5% cons. posit of the bonds called for. (See statement by committee in V. and
104. p.
M. bond., being used to retire the $1,661,000 57 bonds due Jan. 1 1949, 952.) A plan of reorganization is being prepared which, it is expected,
will
which were called for payment at 105 and int. on July 11915. V.100 p.1592. not only be favorable to the bondholders but will also bring new interests
In June 1916 the P. S. Comm. auth. (a) the absorption of the Elmira into the enterprise and provide sufficient funds to rehabilitate the property
Transmission Co. and the Elmira & Seneca Lake Trac. Co. all of whose and give it the additional rolling stock needed to develop its maximum earnstocks and bonds were owned. and (b) the issuance of $100,000 1st cons. M ing power. Depositing bondholders who do not approve the plan will be
58 at not less than 9234 and $125,000 1st pref. stock and $200.000 2d pref. given 2 weeks in which to withdraw on payment of not exceeding 234% on
stock at par, to pay floating debt, for construction. &c.
account of expenses of committee.
In Sept. 1916 applied to P. S. Comm. for auth. to issue $222,000 addiJoint Bondholders' Committee.-James T. Walker, Chairman; William H.
tional 1st consol. M. 58 to provide for the construction of a gas plant.
McCurdy, Earl G. Gwin, D. Gregg McKee, Albert F. Karges, Henry E.
STOOK AND BONDSDate, Interest. Outstanding. Maturity. Jewett, Marcus S. Sonntag, with C. II. Battin, Evansville, as Secretary.
Common $1,000.000($100)$1,000.000 Dec '16, 2% Depositaries: Old State National Bank, Evansville, Ind.; Pittsburgh Trust
Co.,Pittsburgh, Pa., or American-Southern National Bank, Louisville, Ky.
lst pi% $3,000.000(7% cam)
1.400,000 Mar.'17,1
7 2-M
2d pref 5% cum $1,200.000-STOOK AND BONDS- Date. Interest.
----------Outstanding. Maturity.
---5 M ' 1.200,000 Mar.'17. 1
1s1 con mortgage $5,000.0001 1906
Common
$2,000,000 ($1.00).
5 g M-S
$1.8
3,667,000 Sept 119
16
54
4:9500
($1.000)
ge*WInterest at New York Trust Co., Trustee. Pref., $500.t400,05 cum -- J-J
First and refunding mort-1 1913
See text.
5%
Stock.-First pref. Is red, at option of co. at 115 and dly.
1953
gage $5,000.000
tt'Pittsburgh Trust Co., Pittsburgh. Trustee.
Dividends.-On 1st pref.. 1 X% quarterly is being paid. On 2d pref.,
tt 1913
6%
52,900 April 1 1918
2;4% paid semi-ann. from Sept. 1907 to and incl. Mar. 1914. On July 1 Notes
Evans
Elec
&
E
1st
By
mortl
A-0
5
g
1906
684,000 Apr 1 1936
1914 1 2-37 was paid,covering four months, and in Oct.1914 d iv. of 131%
gage, $750,000, gold ($500 Int. at American Trust & Say. Co., Evanswas paid, the rate being 5% quer. instead of semi-ann. (V. 99,f. 608).
and $1000 (closed M)c* tt
ville or Pittsburgh Trust Co., Trustee.
Same rate quer. since to Mar. 1917. On common. 1st dly.-1 0-paid
Evans
Mt
V
&
Mt
Elee
1st
1905
5
g
Ry
A-0
350,000 Oct 1 1925
Oct. 1910. In 1911. 1912 and 1913, 4%. In 1914, Oct., 2%. n 1915.
$350,000 gold ($1.000)Olt(mt.at Amer.Tr.& Say. Co., Evansv.,True.
Jan., 2%; April, 1%; July, 1%. In June 1916 paid 2% for 6 mos. ending
5 J-J
295,000 Jan 1 1939
Dec. 311915 (declared in Dec. 1915) and 2% for 6 mos. end. Juno 30 1916. Evansv Term By let mtge 1908
$300.000 gold ($1,000)_ - tti Int. at Am. Tr. & Say. Co., Evansv., Trues.
In Sept. 1916 paid 1%; Dec. 1916, 2%.
gu p & I by Evans Rys Co_ t and Ills. Tr. & Say. Bank, Ceicago.
ROAD,&c.-Comprises 45.26 m,ofsingle track in Elmira and connecting
the suburban towns of Elmira Heights, Southport and Horseheads, from
Stock and Bonds.-Pref. stock can be called at any time at par. Of the
Horseheads to Watkins. via Millport and Montour Falls. to Seneca Lake. 85.000,000 mtge. bonds of 1913. $1331,500 are set aside to retire underly122 cars. 75 and 90-1b. girder rails. Owns Rorick Glen Park.
ing issues.$2,868,500 for future requirements and $800,000 were immediately
Gas Department.-Has 72.98 miles of natural gas mains.
available, and have been used as collateral for $500,000 Evansville Rys.
Electric Dept.-Two 5.250 k.w. turbines and four 750 h.p. boilers. Old 5-year 6% notes. Of the 6% notes, auth., $298,000 had been cerpower station has 4.250 k.w. capacity, with new 523 h.p. boiler and three tified up to May 1 1917 by authority of the Indiana Public Service Commission, of which $52,900 sold and outstanding. They are secured
800 k. w. step-up transformers; total capacity 16,400 k. w.
by $800.000 first and refunding bonds, and all the common stock of
EARNINGS.Gross
Fixed
Net (after
Surplus for the Evansv. Head.
& Owensboro By., Owensb. City RR. and the HenderCal. YearEarnings.
Charges. Renew.
Taxes).
son Traction Co. Of The Evansville & Eastern Electric By. bonds, 351.000
1916
$1,199,873
$512,155
$234,224
$277,931 are reserved for extensions
& impts. at 85% of coat. Are subject to call,
1915.
1,073,514
450,448
235,943 in whole or in part. at 105 and
214,505
Interest on any interest day upon 90 days'
OFFICERS.-Pres., Ray Tompkins; V.-P., Geo. Bullock; Soc. & Treas.. notice; 32.500 is payable annually
to a sinking fund from 1910 to 1920;
0. A. Kolstad; Asst. Sec., J. A..McKenna; Asst. Treas., H. J. Pritchard; from 1921 to 1936 $5,000
per annum; $15,000 bonds were held in sinking
Gen. Mgr., F. H. I1111.-V. 102, p. 440; V. 103, p. 1032.
fund May 11917. Sinkingfund of $10,500 per annum began Oct. 1 1910 on
Evansv. & Mt. Ver. Elec. Ry.. to be invested in ten bonds ann. at 105.
Subject to call at any int. period at 110. Evansv. Term, bonds are red. at
105 and int, on any int. day at 60 days' notice. Sink, fund began 1912.
EL PASO, TEXAS.
EARNINGS.-For year end. June 30 1916, gross (not incl. Fiend. Trac•
EL PASO ELECTRIC CO.-Incorporated in New Jersey and OWIN the
securities of the El Paso Elec. Ry. Co.,El Paso & Juarez Trac. Co. and Rio and Owensboro City lilt.), $249,676; net, $110,353. In 1914-15. gross'
Grande Valley Traction Co., which do the entire electric railway, electric 8252.259; net, $104,663.
lighting and power business in El Paso, Tex., and Juarez, Mex., and operROAD.-The Evansville & Eastern road consists of 31 miles or track
ate an electric railway between El Paso and Yaleta. Franchises in El from Newburgh (from which point it enters Evansville over tracks of
the
Paso expire in 1951 and 1952. Railway franchise in Juarez expires in 1988. Evansville Terminal By.. 10 miles) to Grandview,including a 4-mile branch
Interurban almost entirely on private right-of-way. In 1909 increased to Richland. The Evansville & Mt. Vernon road consists of 20 miles of
pref. from $500,000 to $1,000,000. V. 90. p. 109. In Mar. 1914 increased track from Evansville to Mt. Vernon. Evansv. Henderson & Owensboro
authorized amount of corn. stock from $2.000,000 to $3,000,000. V. 98. comprises 1034 miles of track from Evansville to Henderson. Total length
p. 839. $500.000 corn. stock is owned by Pub. Service Investment Co.
of lines, 7134 miles. First two roads do an interchange car-load freight
STOCK AND BONDSDate.
Interest. Outstanding. Maturity. service with steam roads.
Common,$3,000,000 MOMOFFICERS.-Pres., W. H. McCurdy; V.-P.. W. A. Koch; V.-P. & Gen.
QM
$2,373,700 Mar'17,234
Pref 31,000.000 6% n-c
1.000,000 Jan'17, 3% Mgr., W. A. Carson; Sec. & Treas.. 0. II, Battin.-V. 90. p. 1362: V. 93,
-6 J-J
Collet trust mtge 81,000.0001 1902
5 g J-J
1,000,000 Jan 1 1932 730; V. 96, p. 1156, 1488; V. 97, p. 594, 802; V. 104, p. 952.
($LOW) gold
ctt Int. at State St. Trust Co., Boston. trustee.
Stock.-$137.800 of the pref. stock is in treasury.
(1) Henderson Traction.-Street railway.
Bonds.-Collateral trust bonds cannot be called and no sinking fund.
Acquired by Evansville Rys. In April 1013. V. 96, p. 1488.
Dividends.-First dly., 3%, on pref. stock, was paid Jan. 12 1903. and
ORGANIZATION.-Incorporated in Kentucky Feb. 22 1907 as a suc3% paid s.-an. since. On com., 1st MY.,2%,Mar. 1910; Sept., 2; in 1911
5%; in 1912. Mar., 3%; Sept., 334 %; in 1913, Mar., 334%; in June 1913 cessor to the Henderson City By., sold at foreclosure on Fob. 18. 1907
began to pay quar. diva. and_
2%;also Sept.,2%;Dec.,2%;Mar. 1914 Franchise extends to 1936.
to Sept. PM,
STOOK AND BONDS% guar.; Dec. 1915 to M.1917, 234% quarterly.
Date.
Interest. Outstanding. Maturity.
EARNINGS.-Of combined companies for 12 months ending Dec. 31:
Stock.$150,000(3100)$149,800
YearFirst
Gross.
mortgage,
$150,0001
Exp. & Tax.
1907
5
g A-0
105,000 Apr.15 1927
Net.
Interest.
Surplus.
1916
(31,000,8500.$100) gold ttlInt. at Ohio Bkg. Sr Trust Co., Henderson Pr
$1,110,718
$658,564
$452,154
$59,128
$393,026
1915
Bonds.-$133,000 bonds issued but $28,000 held in treasury. Remaining
981,888
521,059
460,829
50,368
410,461
ROAD.-48.7 miles of equivalent single track; standard gauge. 84 cars. $17,000 are reserved for extensions and improvements. Subject to call on
Power station has capacity of 11,000 k.w.
April 15 1917 and 1922 at 105. No sinking fund.
OFFICERS.-Pres.. Marshall M. Phinney; V.-P., Joseph Remick:
EARNINGS.-For year ending June 30 1916, gross, $30.348; net, $10.Treas., Henry B. Sawyer; Sec., Hollis T. Gleason; Gen. Mgrs., Stone & 981. In 1914-15,
gross, $30,444; net. 37.816.
Webster Mgt. Assn.-V.98, p. 610, 839; V. 104, p. 163. 1898. rig
ROAD.-Operates 6 mites of street railway. V. 90. p. 1363.
3E,I
•
/EL




MAY, 1917.1

ELECTRIC RAILWAYS

(2) Owensboro City Railroad.-Street railway.
Acquired by Evansville Rye. In April 1913. V. 96, p. 1488. An extension down the Ohio River is contemplated. V. 90. p. 1364.
ORGANIZATION.-Chartered in 1886. Franchise runs till 1936 and
gives exclusive rights to operate street railway in said city.
Date.
Interest. Outstanding. Maturity
STOCK AND BONDS$75,000f.p
Common,$75,000 (par $50)1st mtgs.. $200.000, gold( 1902 5 g J-J
200,000 Jan. 1 1932
($1.000), c&r, not red_ - tfjInterest at Louisville Trust Co., Trustee.
6 M-N
200,000 May 1 1933
General mortgage.$200,000tfj 1910
1 Amer. Tr.& Say. Co.. EVAT1SV., Ind., Trustee
EABNINGS.-For year ending June 30 1916, gross, $62,475; not. $23,419. In 1914-15, gross, $60,675; net, $21,235.
ROAD.-Owns 121,5 miles of street railway In Owensboro and suburbs:
56 and 70-lb. rail: 30 motor cars, double West., 68 G. B. 800; 7 trailers;
25 10-ton and 525-ton coal cars. Power house 600 k. w.capacity. V.90.
p. 1364.
-EVANSVILLE SUBURBAN & NEWBURGH RY.
ORGANIZATION.-Incorporated in Indiana in Dec. 1888, with a per petual charter. Pass. business hauled by electricity and freight by steam •
Does a car-lot freight and express business. Has private right-of-way'
STOCK AND BON- Date.
tstanding. Maturity•
------------$307,400
Stock.$500,000($100)---------5 g J-J
1st mortgage, $500,000, gold{ 1904
485,000 July 1 1934
Interest at Evansville Trust & Say. Co.,
00
($500 and $1.0)____c*tf
Trustee,or Nat. Bank of Commerce, N.Y.
of
fund
$2,500
per annum commenced July 1 1910.
Bonds.-A sinking
which will retire bonds at 105. All or any part of bonds redeemable
after 15 years at 105. $15,000 have been retired. V. 98. p 1365.
EARNINGS.--For year end. Dec. 31 1916, gross, $139,062; net, after
taxes, $38.661. In 1915, gross. $117,716; net, after taxes, $30,838.
ROAD.-Operates 25 miles of track from Evansville to Newburgh, with
a branch off the main line through Stevens Station and Chandler to Boonville: has also 5 miles of side-track; total. 30 miles.
T rails.
OFFICERS.-Pres.. Lee Howell; V.-P., Chas. W. Cook; Sec. & Gan.
Mgr., Gus Mulhausen.-V. 83, p. 271: V. 96, D. 1355.

41

RR. Commission sanctioned increase in stock from $450,000 to $700.000.
new stock to be issued at 110. Company then petitioned Commission to
allow stock to be issued at 100(V. 85, p. 722) but in Sept. 1908 Commission denied application. V. 87. p. 812.
STOCK, BONDS,&c.Date.
Interest. Outstanding. Maturity.
Stock $700,000 ($100)
See text.
$450,000
Fitch & Leo con mtge,33501 1901
414 F-A
300,000 Feb 1 1921
000($1,0)
00
Int. at Boston Safe Dep.& Tr. Co., Trustee.
L & A 1st mtge. $100,000 1905
5 g F-A
100,000 Feb 1 1921
gold ($1.000)
et{ Int. at Boston Safe Dep.& Tr. Co., Trustee.
(Guar. p. & I. by Fitch. & Loom. Street Ry.
Dividends.-For many years up to and incl. 1900-01.8%;since,6% p. a.
ROAD.-Owns 41.19 miles of track. Road extends to LeominsterLunenburg, Shirley and Ayer. 30 closed passenger cars, 24 open passenger
cars, 3 express cars and 5 snow plows.
EARNINGS.-For year ending June 30 1916, gross. $328,304; net, after
taxes, $86,777* other income, $1,819; interest, &c., $59,605; divs., $27,000;
surplus, $1,991.
OFFICERS.-Pres., Supt. and Purch. Agent, W. W. Sargent; V.-P.,
Ff. I. Wallace: Clerk and Counsel. C. F. Baker; Treas., R. N. Wallis, all of
Fitchburg.-V.87, p. 812; V. 103, p. 2238; V. 104, p. 663.

FORT DODGE, IOWA.
FORT DODGE DES MOINES & SOUTHERN RR.-See "Railroad and
Industrial' section.

FORT SCOTT, KAN.

THE FORT SCOTT GAS & ELECTRIC CO.
ORGANIZATION.-Incorporated in Kansas in 1900, and is successor
to the Fort Scott Electric Light & Power Co., Citizens' Electric Street Ry.,
Fort Scott Steam Heating Co. and Fort Scott Gas Co. Fror-hise expires
April 23 1922. Operated by the Light & Development Co. of St. Louis, Mo.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $350.000 ($100)
$350.000
1st mortgage $250,000 gold( 1903
147.000 April 1 1922
5 g A-0
($500), sinking fund_c*ntf Tint. at Chicago Title & Trust Co., Trustee.
FAIRMONT, W. VA.
Ref mtge $300,000 ($500) ntf{
146,000
6%
MONONGAHELA VALLEY TRACTION CO.
Int. at Vandeventer Ti'.Co... Co. St. Louis. Mo.
Bonds.-Of the 1st M. bonds,
s, 353.000 have been retired. Sinking fund
ORGANIZATION.-Organized in NV. Va. on May 16 1912. Is a consolidation of Fairmont & Clarksburg Trac. Co., Fairmont & Northern began Apr. 1 1908 as follows: In 1908 and 1909,$3,500 per ann.; in 1910 and
Trac. Co. and Clarksburg & Weston Elec. Ry. Owns and controls entire 1911, $4,000 per ann.; in 1912 and 1913, $4,500 per ann.; in 1914 and 1915,
street railway business in Fairmont and Clarksburg and an interurban road $6,000 per ann.; in 1916 and 1917. $7,000 per ann.; and from 1918 to 1921
connecting the two cities, with branches extending to various cities and incl., $10,000 per annum.
towns, and the entire electric-light and power and gas business in Fairmont.
ROAD.-9 miles of track in Fort Scott.
Also owns coal lands. Franchises in -Fairmont are perpetual. In other
OFFICERS.-Pres., H. Wurda,ck, St. Louis; V.-P. & Treas. Horace W.
cities and towns extend for 50 years, the shortest expiring in 1952. Inter- Beck, St. Louis; Sec. E. C. Gates, Fort Scott, Mgr., A. L.
' Abington
urban lines on private right of way. Franchises over county roads and Ft. Scott.-V.77. p. '
1294.
bridges in Marion and Harrison counties are perpetual.
On Feb. 1 1911 the Fairmont & Clarksburg Trite, took over the Fairmont
& Mannington Trac. Co.(17 miles), and has acquired 9,973 shares of stock
FORT SMITH, ARK.
(78%) and $599,000 of total issue of 11600.000 1st M.5% bonds of said co.
FORT SMITH LIGHT & TRACTION CO.
On Dec. 1 1915 acquired the Fairmont Gas Co. ($2,000,000 corn. and
Standard Gas & Elec. Co., a holding company under the control and
$728,150 pref. stock) through exchange of stock as follows: (a) One share
pref. stock ($100) and X share corn. stock ($25) and $17 cash for each two management of H. M. Byllesby & Co., Chicago, Ell., owns $949,900 corn.,
shares ($100) of Fairmont Gas Co. pref. stock; (b) one share ($100) corn. $798,700 pref. stock, $150.000 1st M. bonds and $300,000 deb. Os of the
stock and $18 75 cash for each 2 shares ($125) of Gas Co. corn. stock. company.
ORGANIZATION.-Incorporated in Arkansas on April 13 1903 as a conProposed Merger-Changes in Stock.-Negotiations for the acquisition of
the ICanawha Trac. & Elec. Co.(which see under"Parkersburg, W. Va.") solidation of the Ft. Smith-Van Buren Light & Transit Co. and the Ft. Smith
we were informed early in May 1917 would probably be ratified in Juno or Trac., Lt. & Pow. Co. Owns all physical property, contracts, rights and
July 1917. In connection with this plan, the par value of coin, and pref. franchises of Van Buren Fuel & Light Co.(now dissolved). Does the entire
shares of the Monongahela Val. Trac. Co., it is announced, will be changed electric-light, gas and street railway business of the city, and the electricfrom $100 to $25 and the Kanawha Trac. stockholders would receive practi- light and gas business of Van Buren: operates an interurban line between
cally 44,000 shares of Monongahela pref. and 44,000 shares coin, stock (par Ft. Smith and Van Buren. Street railway, gas and electric-light franchises
$25) for their stock. It is also proposed to convert the present preferred In Ft. Smith expire in 1955. Gas and electric light franchises in Van Buren
stock into 6% pref. stock, par $25, on the basis of $84 par value of the new expire in 1957; street railway in 1962.
stock for $100 par value of the present 5% stock. In other words, 100
Date.
STOCK AND BONDSInterest. Outstanding. Maturity.
shares of the 5% stock of $100 par value each, are equivalent to 336 shares Common,$1.500.000 ($100)
$950.000
of the new 6% stock of the par value of $25 each.-\r, 104. P. 1146.
Pref 35,000.000($100) 7% cum ._ _
Q-J 15
See text
1.410,000
STOCK AND BONDS- Date.
InterPst. Outstanding. Maturity. First mortgage $6,000,000 gi 1911
5 g M-S
2,587,000 Mar 1 1936
Common, $9,500,000
Q-J
f ($500 and $1,000)____c* Int. at Illinois Trust & Savings Bank, Chic..
$6,782,037
Apr.'17,13.i,
Prof. 5% (cum.), $3.000,000_
Trustee, or at agency 01 co. in N.Y.or Bos.
Q-F
2,787,150 May'17, 13(
First & ref M,$15,000,000, gi 1912
5 J-D
300.000 May 1 1918
:1,750,000 June 1 1942 Debenture notes. $300.000- 1913 6 M-N
($500 & $1,000)_ _e*&r* tf Fidelity Te. Co., Balt.,
Stock and Bonds.-Pref. stock is red, at any time after 3 years frorn issue
Trus.
Int.
in
N.Y.
Fairm & Clarksb 1st M. $2,- 1903
5 g A•2,500,000 Oct 1 1938 at 110 and accrued div. Remaining 1st M. bonds can only be issued for
500.000 g ($1.000)__c*ntff Int. at Guaranty Trust Co., N.Y.. Trustee. 75% of cost of additions, improvements and extensions under certain reStock.-In Nov. 1915 pref. stock was made convertible into common on stricdons. See V. 92. p. 956. Sub). to call as a whole or in part on any
any div. date, on the basis of 11 shares of pref. for 10 shares corn.
int. day at 105 and int. Cash sink. td. 01 1% yearly 1914 and 1915,
%
Bonds.-Of the 1st (& ref.) bonds, $2,500,000 are reserved to retire prior yearly 1916 to 1918, 2% yearly 1919 to 1923
and such amounts thereafter
liens and $8,750.000 are for add'ns and extens, under certain restrictions. as by July 1 1935 will make total sk. fd. 40% of bonds certified. V. 92, p.
Red. at 105 and int. on any int. day on or after Juno 11922. Tax refund. 936. $113,000 have been retired.
in Pa. See V. 102, p. 1346; V. 94, p. 1508. Fairmont & Clarksburg 1st
Dividends.-Pref. is cum. from Jan. 11912. let div. on pref.-13%mtge. bonds subject to call at 105 and int. Listed on Philadelphia Stock paid April 15 1910: July, 1q %: Oct.. Ix% and 1(% quer. since to and
Exchange.
Including April 1913; none since.
Dividends.-5% is being paid on the prof. stock. initial div. on cornEARNINGS.-For year ending Dec. 311916, gross, $486,701; net, after
mon-2%-pald Jan. 1913: July 1913, 1
Oct.. 1%%. In 1914. Mar.. taxes,$154,179;interest charges (net), $167,788; deficit, $13,609. In 1915.
%; July, 114%. In 1915, none. In 1916, 4%. In Jan. 1917 paid gross, $454,664; net, after taxes, $122,895.
dividend
of 6% in common stock; April,
ROAD.-Owns and operates 31 miles of track on 12 miles of streets In
1% cash and an extra
13(4%•
EARNINGS.-For year ending Dec. 31:
Ft. Smith and suburbs. Standard gauge,60-1b. and 80-lb. T rail. 50 cars.
Gross.
YearExpenses.
Int.ec.Taxes. Surplus. Owns a park of 110 acres. Also gas works for distributing natural and artiNet.
$1,582,786 $629.088 $953,698 $398,595 $555,103 ficial gas (artificial gas plant is held in reserve) with 75 miles of mains, and
1916
1,009,834
398,785
1915
284,678 electric power and lighting plant-generating capacity, 4,600 horse-power
326,371
611,049
968,389
1914
415,724
308,642
244.023 and pole line of about 132 miles.
552,665
ROAD.-Operatea street railways in Fairmont, W. Va., and in ClarksOFFICERS.-Pres., A. S. Huey; V.-P.. II. M. Byllesby; V.-P. & Gen.
burg, W. Va., and an interurban line of 25 miles connecting the two with Mgr. D.C. Green; Sec., John Brizzolara; Treas., R.
Ballard; Gen. Mgrs.
various small branch lines: also lines from Fairmont to Fairview. 14 m.. II. M.Byllesby & Co., Chicago.-V.101,p. 1553; V.E.
102, p. 1060.
Clarksburg to Bridgeport, 7.6 m,and Clarksburg to Weston, 24 m.; Fairmont & Mannington operates 17 miles; total track in operation, 111.42
miles. An extension from O'Neil to Wolf Summit,2y, miles, was completed
FORT WAYNE, IND.
Nov. 1 1916. Other extensions are contemplated. Standard gauge.
FT. WAYNE & NORTHERN INDIANA TRAC. CO.-A trolley road.
80-lb. 'I' rail.
OFFICERS.-Chairman of Board, S. L. Watson; Pres., Jas. 0. Watson:
Controlled by same interests as the Ohio Electric Ry. and the Terre
V.-P.. Smith Hood; Sec. & Treas., Walton Miller; Gen. Mgr., E. B. haute Indianapolis & Eastern.
Moore.-V. 103, P. 2429; V. 104, P. 452, 1146, 1387, 1898.
ORGANIZATION.-Incorp.
in Indiana on Feb. 13 1911 to take over the
_*
Ft. Wayne & Wabash Valley Trac. Co. per plan in V. 92. p. 394. 594.
Wayne & Wabash Valley Traction Co. had previously acquired
Ft.
The
FARGO, NORTH DAKOTA.
through consolidation or purchase the following companies:
NORTHERN STATES POWER CO.-FARGO-MOORHEAD DI- Vt. Wayne Bluffton & Marion Tr.Co. Lafayette Street Ry.
VISION (STREET RAILWAY).
Logansport Railway Co.
Ft. Wayne El. Lt. & Power Co.
ORGANIZATION.
Logans. Roth. & Nor. Trac. Co.
-Fargo & Moorhead Street Ry. VMS incorporated Ft. Wayne & Southw. Trac. Co.
Waba.stt-Logansport Traction Co.
July 19 1902 in North Dakota. In June 1912 new 25-year franchises were Ft. Wayne Traction Co.
Wabash River Traction Co.
granted in Fargo. Moorhead and Dilworth. Operates in Fargo, N. D., Lafayette & Logansport Trac. Co.
Also controls Fort Wayne Power Co., Carroll Electric Light Co. and
and Moorhead, Minn., and an interurban to Dilworth, Minn., a total of
15.584 miles. Standard gauge. 70-1b. T rail. General Managers, II. M. Wabash Valley Utility Co. Owns a ono-fourth interest in the United
Tractions Coal Co. which owns and leases valuable coal lands to insure the
Byllesby & Co., Chicago,
In April 1916 $195,000 let M. and $72,000 2d M. bonds were retired company an adequate supply of coal (see Shirley Realty Co. of Indiana in
in connection with the refinancing of the Northern States Power Co., all of V. 101, p. 1805).
Furnishes electric light in Ft. Wayne, Roanoke and Delphi; municipal
the physical property having been acquired by the latter company. See
franchises extend to 1935 and 1998, except in Ft. Wayne, which tor more
V. 102, p. 1441, 1543.
than X of street railway are perpetual, the balance being for outlying extensions and extending to 1937. Lighting franchises in Ft. W.extends to 1935.
$1,000,000 corn., $1,000,000 pref. and $1.000,000 1st and ref. bonds of
FISHKILL-ON-THE-HUDSON, N. Y.
the Ft. Wayne & Nor. Ind. Trac, were issued for $1,500.000 new cash.
FISIIKILL ELECTRIC RAILWAY CO.-A trolley road.
Holders of Ft. Wayne & Wabash Valley corn, received only 44.44% in the
Leases the Citizens' St. RR., L. & P. at a rental of $8,255 per annum.
torn, stock of the Ft. Wayne & Nor. Ind. Tree.; holders of pref. received
$
for 3, but had to pay 317 50 per share in cash.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock.$50,000
$50.000
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
First mortgage, $50,000
1895
6 J-J
50.000
July 1925 Common.$4.000.000 ($100)_
$4.000.090
2.500,000
See text
Q-M
EARNINGS.-For year ending Juno 30 1916, gross, $53,052; not, after Pref,6%(cum)34,000,000(3100) ___
5%
3.000,000 Mar 1 1931
taxes. $13,964; int., rentals, &c., $15,057: deficit, $1,111.
1st & ref mtge $15.000.000_ tf 1911
1.164,000 Mar 2 1919
Coll notes $1,200,000 ($1.1 1914
5 g M-S
ROAD.-Owns 4 and leases 3 miles. Total.74 miles.
01.0101(JERS.-Pres., John T. Smith; V.-P., W. S. Conklin; Sec., NV. H
000) red at 100 & int on 30 Central Trust Co.. New York. Trust.
ee
days' notice
Southard; Treas., G. W. Patterson.
Ft NV & W Vol Tr 1st cons M1 1904
6,966.000 Mar 1 1934
5 g M-S
$7,500.000g ($1.000) _esti f Int. at Commercial Tr. Co., Phila., trustee.
FITCHBURG, MASS.
Ft W & W Vail Tr car trusts5 P-A
Series "A ($1,000 each)_tf ____
See text
25,000
FITCHBURG & LEOMINSTER STREET RY.
Ft W & N Ind TrIn April 1905 absorbed the Leominster Shirley & Ayer Street Ely. through
____
5 F-A
Series "A" (g1.000)__
See text
30.000
exchange of stock, share for share. V. 80, p. 1478. In Sept. 19071Mass.
5 M-S
Series "B" (51.000 each) _tf ___See text
12,000




[Vol.. 104.

ELECTRIC RAILWAYS

42

Interest. Outstanding. Maturity.
Date.
1931
$275,000
5 g F-A
1901
Int. at N.Haven Tr.Co.,/4. Haven,trustee.
29.000 Oct 1 1929
1899 4 g A-0
Int. at Guard. Tr. Co.. Cleveland, Trustee.
225,000 June 1 1923
1893 54 J-D
Int. at Real Estate Tr. Co., Phila., Trustee.
849,000 June 1 1936
1906
5 g J-D
Int. at Guar.Tr.& S. D.Co.,Phila.,Trustee
400,000 July 1 1935
1905
J-J
g
5
Int. at Guar. Tr.& S. D.()o.,Phila., trustee
57,700 Nov 1 1937
6 M-N
1907
Int. at Guar.Tr.& S. D.Co.,Phila.. trustee.
Stock.-Both stocks are listed on Phila. Stock Exch. V.94,P.826.
Bonds.-Of the 1st & ref. mtge.. 38.807000 are reserved to retire underlying bonds and remainder for acquisitions, extensions and additions.
Subject to call as a whole on any interest day at 105 and int. In addition
to bonds noted above there are $3,500 lost bonds of the Loganspt Ry, outstanding, due Sept. 1 1929. The Ft. W. & W. V. consols of 1904 are not
subject to call before maturity. They are listed on Phila. Stock Exch. The
Wab. Riv. Trac. Co. bs of 1901 are subj. to call at any time at 105 & int.
Lafayette & Logansport 1st M. is closed; no more bonds can be issued.
The Lafayette St. Ry. 1st M. 6s were extended for 10 years to June 1
1923 at 53,i% interest.
Ft. Wayne & Wab. Val. car trusts are guar., p.& I., by end. by Ft. Wayne
& Nor. Incl. Trac. Co. They mature $5,000 s.-a. to Sept. 1 1919. Trustee
is Fidelity Tr. Co., Phila. The Penn. Co. for Ins. on Lives & Granting
Annuities is trustee of Ft. W.& N. I. Trac. car trusts. Ser. "A" mature
$2,000 each Feb. and $3,000 each Aug. to Feb. 1923. Ser. "B" mature
$1,000 s.-a. to Mar. 15 1923.
The notes of 1914 are secured by $1,941,000 1st & ref. 5% bonds of the
company which are included in the $3,000,000 outstanding reported above.
An additional $500,000 of notes may be issued, but only with the approval
of the Commission and under the terms of the mortgage securing the
bonds pledged as collateral. V. 98. P. 1156.
Dividends.-On pref.. 1 % quer.. from organization to Sept. 1912. In
May 1913 a scrip div. of 3% was paid, covering divs. payable Dec. 1912
and Mar. 1913. See statement in V. 96. p. 1422. None since.
ROAD.-Operates 209 m. main track connecting Ft. Wayne. Huntington, Wabash,-Peru, Logansport, Delphi, Lafayette and Bluffton; also local
lines in Ft. Wayne,Wabash,Peru,Logansport and Lafayette. Total track,
220 miles. At Logansport, Peru, Wabash and Bluffton connection is
made for Indianapolis over tracks of Indiana Union Traction Co. In May
1906 began through service between Ft. Wayne and Indianapolis over
tracks of Union Traction Co. of Ind. See V. 82, p. 1101. Rails, 60, 70,
72, 80 and 90-lb. Owns 2 power houses and 4 pleasure parks. Owns
180 pass, cars and 60 other cars.
REPORT.-For calendar years ending Dec. 31:
InterBalance,
Net
Expenses
Gross
Calendar
Surplus.
est.
Revenues. and Taxes. Revenues.
Year?)
(?)
$1,777,686 $1,159,195 $618,491
1916
,357
582,555
583.912
1,070,693
1,654,605
1915
575,012 142,042
717.054
1,121,338
1,838,392
1914
OFFICERS.-Chairman of Board, J. Levering Jones; Pres., Robert M.
Feustel; V.-P., Treas. & Sec., H. E. Vordermark, Ft. Wayne; Asst. Sec.,
H. J. Alker, Phila.-V. 98, p. 1071. 1156. 1244; V. 104, p. 1800.
STOCK AND BONDSWabash Riv Tr Co 1st mtge
$350,600 ($1,000) g __*ntf
Ft Wayne Tr mtge $1,500.c*tf
000 gold ($1.000)
Lafayette Street Ry 1st mtge
($1.000 each) $225,0000 tf
Laf & Log Tr 1st M $1,000,000 g ($1,000) gu p & ic* tf
Ft W B & M 1st M 3400,000
gold ($1.000) guar p & I- tf
tf
Ft W Power Co mtge

FORT WORTH, TEXAS,
NORTHERN TEXAS ELECTRIC CO.-A holding company.
Of the common stock, 8500.000 is owned by Pub. Service Invest. Co.
ORGANIZATION.-Incorporated in Maine Nov. 16 1905 and owns the
entire stock and participating bonds of the Northern Texas Traction Co.,
which does all the electric-railway business in Fort Worth and operates an
Interurban line between that city and Dallas, 35 miles, and the capital
stock of the Tarrant County Traction Co. (name changed from Ft. Worth
Southern Traction Co. In 1914). which operates a line between Fort Worth
and Cleburne, Tex.. 31 miles. It is proposed to extend the line from
Cleburne to Denton, the rights of the Fort Worth-Denton Interurban Co.
having been acquired. V.99.p. 121, 122. Also owns the capital stock of
the Arlington Light & Power Co., which does the electric light and power,
Ice and water business in Arlington, Tex. Enters Dallas over its own
tracks. See V. 89. p. 411. Has leased for 20 years from Dec. 17 1915 the
terminal facilities of the Dallas Interurban Terminal Assn. which see under
Dallas Electric Co. on a preceding page.
Franchises of Northern Texas Trac. Co. in Fort Worth expire in 1973; in
Dallas in 1920, 1936 & 1953; others about 1950; has private right of way outside of cities. Tarrant County Trac. Co. in Fort Worth and Cleburne
expire in 1936; between these cities has private right-of-way except in
towns &c., in which cases its rights expire in 1961. V. 92. P. 1243. Road
was completed in Aug. 1912 and began operation in Sept. 1912. Franchise
in Arlington expires in 1949.
On Feb. 24 1913 increased auth. pref. stock from $4,500,000 to 35,000,000 and the corn. from $2,500,000 to $5,000,000 (V.96, p. 488,654), and
holders of both classes of stock were given the right to subscribe for $650,000
new common stock at par. V. 96. P. 790.
Interest. Outstanding.LastDiv.&c.
STOCK AND BONDS- Date.
$3,150,000 Mar.'17,1
_Q-M
Common $5,000,000 ($100)-4,000,000 Mar.'17,3
&S
Pref 6% n-c $5 000,000 4101 _-_3,591,000Jan 1 1940
5 g J-J
Coll trust M $1i),000,000 gold 1910
sink fund (see text)c*&r*tf Int. at Commonwealth Tr. Co.,Bost.,Trust.
2,500,000 Jan 1 1933
No Tex Traclst M $2,500,0001 1903 5 g J-J
Citizens' Say.& Tr. Co., Cloy., Trus.
($1,000) gold-no sinking Int. at Citize'
New York.
Bank,
Chase
Nat.
at
or
c*tf
fund
Stock.-The pref. stock is redeemable at 110. V. 94, p. 1449. Both
classes of stock are listed on the Boston Stock Exchange.
Bonds.-Of the coll, trust bonds,$2,500,000 are reserved to retire Northern Texas Traction 1st M. bonds; $169,000 have been retired. Coupon
bonds are in denom. of $1,000; registered bonds, $1,000, 35,000 and
$10,000. Callable as a whole or in part,for sink.fd. only,at 105 and int. on
any int. date. Sinking fund of 1% of bonds out began Nov. 11911. Bonds
are secured by deposit of all the stock of the North. Texas Trac. Co. V.90,
p. 373. 1239. The Northern Texas Traction Co. bonds are subject to call
as a whole on any interest day at 105 and interest.
DIVIDENDS.-First div. on pref. (1%) Paid March 1 1906 and 2%
Sept. 1 1906; since, 6% per annum. First dividend on common stock,
2%, paid Sept. 1 1909: in 1910. 5%; in 1911 and 1912. 6%; in 1913
%;in 1914, 7%;in 1915.4X %;in 1916, 4%; in 1917, Mar., 1%.
EARNINGS.-Of combined companies for 12 mos. end. Dec. 31:
Surplus.
Sink. Fds.
Interest.
Gross. Net (aft. Tax.)
Year$426,313
$36,485
$310,444
$773,242
31,930,321
1916
332,687
33,000
297,817
663,504
1,713,213
1915
ROAD.-Subsid. cos. operate 158.5 miles of track, standard gauge; 217
viaduct
ft.
1,800
an
completed
In
1916
July
passenger and 16 other cars.
over the steam roads entering Union Depot in Dallas. Power station has
capacity of 10,800 k. w.; also purchases power from the Dallas Electric
Light & Power Co.
OFFICERS.-Pros., Marshall M. Phinney; V.-P., G. L. Weymouth;
Sec.. Hollis T. Gleason; Treas., Henry B. Sawyer; Gen. Mgrs.. Stone &
Webster Mgt. Assn., Boston.-V. 102, p. 151; V. 104, p. 1899.

FOSTORIA, OHIO.
FOSTORIA 6c FREMONT RAILWAY CO.
ORGANIZATION.-Incorp. in Ohio In 1909. Ownership is largely
represented by interests identified with the Lake Shore Electric Ry. Co.
and Western Ohio Ry. Co. Besides passenger business, does a freight and
express business and handles coal for use by Ohio State Power Co. at
Fremont.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$200.000
Conn stock, $200,000 ($100)200,000
Prof stock 8200.000 (8100)
200,000 Oct 1 1930
5 A-0
First mtge $250,000 (31,000)1 1910
c*fInt. at Cleveland (0.) Trust Co., trustee.
gold
Bonds.-Normal Federal income tax paid at source.
Dividends.-Paid a dividend of3% on pref. stock in Jan. 1913;subsequent
surplus earnings have gone into the properties.




EARNINGS.-For years ending June 30:
1915-16 1914-15
1915-16 1914-151
$58,823 $56,968 Net, after taxes___$21,105 $19,064
Gross
ROAD,&O.-21.38 miles of electric interurban railway on private rightof-way, connecting Fostoria and Fremont. Forms the connecting link
between the Western Ohio Ry., Toledo Fostoria & Findlay Ry. and Lake
Shore Electric Ry., all of which use the line under traffic contracts.
OFFICERS.-Pres., F. D. Carpenter, Lima, O.; Soc. & Treas., J. D.
McDonel.-V. 101, p. 1885; V. 102, p.521.

FOXBORO, MASS,
NORFOL C & BRISTOL STREET RY.
ORGANIZATION.-Incorporated in Massachusetts in November 1901 •
Fare Increase.-On Aug. 19 1915 the Mass. P. S. Comm. granted permission to increase the fares from 5 to 6 cents or 18 tickets for $1. See
V. 101, p. 694; V. 103, p. 1031.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
$200,000
Stock, $200,000 ($100)5 g J-J
200,000 July 1 1928
1st mtge. $200.000 ($1.000),1 1908
g,sink. fd. Red. at 105__ flint. at American Trust Co., Boston, Trustee
EARNINGS.-For 12 mos. end. June 30 1916, gross, $94,853; net.
$5,274. In 1914-15, gross, $88,551; net, $3,712.
ROAD.-Owns 21.723 miles of track between Norwood, Mansfield and
Wrentham; 21 passenger cars, 3 snow plows and 2 service cars.
OFFICERS.-Pres., Roger Amory; Sec. & Treas., George L. Aspinwall;
Gen. Mgr.. M. A. Cavanaugh.-V.87. p. 936, 1238; V. 101. p. 694.

FRESNO, CAL.
FRESNO TRACTION CO.-A trolley road.
In 1910 Southern Pacific assumed control and owns all the stock except
directors' shares.
ORGANIZATION.-Incorp. in California in 1903. Leases the Fresno
City Ry. Purchases power from San Joaquin Lt. & Power Co.
In Dec. 1916 the Cal. RR. Comm. auth. the co. to sell $49,597 bonds for
eats. (not incl. In amounts reported outstanding).
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$5,000,000
Stock $5,000,000--($100)719,000 July 1 1944
5 J-J
First mortgage, $5,000.0001 1904
c.ntflInt. at Union Trust Co., San Fran., Trustee.
($1,000), gold
Bonds of Leased Company84,000 Jan 1 1922
Fresno City Ry first mtge( 1002 6 g J-J
$150,000 gold ($1,0001 c*tflUnion Trust Co., San Francisco, Trustee.
Bonds.-Fresno Trac. 1st M. bonds have a sinking fund commencing in
1909 of 32,500 per annum for first 5 years and increasing $2,500 per annum
for each 5-year period thereafter to $17,500 per annum from 1939 to 1943.
Fresno City bonds have a sinking fund of $3,000 per annum for first two
years, $5,000 per annum for next five years and $7.500 per annum for
next 10 years. commencing Jan. 1 1905. Bonds cannot be called. Interest payable in New York and San Francisco.
COMBINED EARNINGS.-Incl. Fresno City Ry.:
Balance,
Interest,
Other
Net (after
Gross
June 30
Income. Rentals, &c. Deficit.
Taxes).
Earnings.
Years$33,488
$106,612
$26,602
$46,522
$227,394
1915-16
30,466
87,048
18,958
37,624
231,331
1914-15
ROAD.-Mileage operated (incl. 8.14 miles leased from Fresno City Ry.).
Southern
by
operated
miles
single-track
of
45.01 miles. Also owns 8.51
Pacific Co. Standard-gauge. 75-lb. "T" rail. 35 passenger. 2 work and
1 combination car.
OFFICERS.-Pres., W. F. Herrin, San Francisco; V.-P., Paul Shoup;
Sec. & Aud., H. A. Culloden, Los Angeles; Gen. Mgr., F. W. Webster:
Treas., M.S. Wade.-V.76, p. 1192; V.77. p. 1746; V. 78, p. 1222.

GADSDEN, ALA.
ALABAMA CITY GADSDEN Cc ATTALLA RY.
ORGANIZATION.-Incorporated under a special charter from the State
of Alabama. Operates, besides street railway, a light plant, an ice plant
and a coal yard.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$330,000
Stock 3500,000 (3100)_
298,000 Nov 1 1936
5 g M-N
$300,000 gold! 1906
Mortgage
tf lInterest at Trust Co.of Amer. N.Y.,Trust.
($1,000)
Bonds.-The unissued bonds are reserved for further additions at 90%
of cost. Subject to call on any interest date at
ROAD.-Operates 11 miles of track, connecting the points named in the
title. Standard gauge. 40 and 70-lb. T rail.
OFFICERS.-Pres., E.T. Schuler, Gadsden, Ala.; V.-Pres., G. H.
Schuler, Jacksonville, Fla.-V.83, p. 817.

GALVESTON, TEXAS.
GALVESTON-HOUSTON ELECTRIC CO.-A holding company.
ORGANIZATION.-Incorp. in Maine on May 8 1007. Controls
through ownership of stock the Galveston Electric Co. and the Houston
Elec. Co., which companies do the entire electric railway and part of the
electric lighting and power business In Galveston and the entire electric
railway business In Houston. Also owns stock of Galv.-Hous. Elec. Ry.,
an interurban road between Galveston and Houston, 50 miles, and guarantees its bonds. p., I. and s. f. Franchises expire in Galveston In 1050; in
Houston. 1935. The interurban Is on private right-of-way. $500,000
corn, stock is owned by Public Service Investment Co.
Date, Interest. Outstanding. Last Div.&c.
STOCK AND BONDSM-S 15 33,988,000
See text
Common.85.000,000 (3100)_M-S 15 3,000,000 Mar,'17,3%
Pret $4,000,0006% cum ($100) ____
May 1 1940
5 g M-N 1,344,000
Gals, Electric 1st M $2.500.-{ 1905
000 gold 41.000)- _c*tf Int. at Old Colony Trust Co.,Boston. Truetee,or at company's agency In New York.
5 g A-0 2,914,000
Oct. 1 1954
Gamy-Hone El fly 1st M $5,-1 1909
c*Srrtf Int. at Old Colony Tr. Co., Bost., Trustee.
000.000 g guar
Aug. 1 1925
Eons Elec Co 1st M 82.500,- 1900 5 g F-A 1,889.000
000 g (31.000) sk fd__c•tt Int. at Internat. Trust Co.. Bost., Trustee.
Stock.-Pref. is callable at 120 and acctun. div. Both pref. and com,
are listed on Boston Stock Exchange.
Galveston Electric Co.-Of the bonds, $1,026,000 reserved for additions
and impts.at 80% of cost and $130,000 have been retired. A sinking fund
of 13i% of bonds certified began July 1 1906. Callable as a whole or in
part for sinking fund on any int. date at 110 and int. on 30 days' notice.
See V. 81. p. 075.
Galveston-Houston Electric Ry.-Of the remaining bonds, $26,000 are
held in trust for benefit of company and $2,000,000 are reserved for
acquisitions and improvements; 360,000 have been canceled. Denom.:
coupon, $500 and $1,000; registered, $1,000 and $5,000. Subject to call
on any interest day in whole, or in part for sinking fund, at 105 and int.
0. First five paySinting fund of 1% of bonds to 1944; thereafter 1%7
ments walyable. Bonds are guar., prin., int. and sinking fund, by Galv.How/. Elec. Co. See V. 90, p. 697.
Houston Electric Co.-Entire Issue, but not any part, can be called at
1073. and int. Sinking fund of 1.;.6% of bonds outstanding payable on
Aug. 1 each year. See V. 74, p. 680. $611,000 of bonds not reported
outstanding was held by this fund on Mar. 311917.
DIVIDENDS.-On common, 13i% semi-ann. from Sept. 1909 to and
incl. Mar. 1912. amount then increased and paid 2% in Sept. 1912. In
Mar. 1913 increased to 2%,in Sept. to 3% and In Mar. 1914 to 3 ti %;
Sept.,3%%. In 1915,Mar.,3M %.Sept. 1915 div. omitted.(V.101.9.845.)
EARNINGS.-Of the combined companies for 12 mos. ending Doc. 31:
Gross. Net (aft. Tax.). Interest. Sink. Funds. Surplus.
Year$269,739
$117,236
$321,757
$708,732
$1,944,839
1916
296,462
102,273
729,771
331,036
1.936,228
1915
ROAD.-Operates 159.5 miles single track; standard gauge; 265 passenw.
k.
capacity
6,582
of
ger and 34 other cars. Power stations have
OFFICERS -Pros., Marshall M. Phinney; V.-P., G. L. Weymouth;
Sec., Hollis T. Gleason; Treas., Henry 11. Sawyer' Gen. Mgrs.. Stone &
Webster Mgt. Assn.-V. 102, p. 153, 1718. 1983; V. 101, p. 1898.

MAY, 1917d

ELECTRIC RAILWAYS

GARY, IND.
ciAgy & INTERURBAN RR.

Recewer.-In Oct. 1915 Charles D. Davidson of Gary was appointed
receiver. V. 101, p. 1370. 1464.
Default.-Interest due Oct. 1 1914 on the $250,000 Valparaiso & Northern
1st 55 was paid after some delay; subsequent coupons in default. Dec. 1
1914 and subsequent coupons on the Gary Connecting 1st 5s and Jan.
1915 and subsequent coupons on the Gary & Interurban By. refunding and
first mortgage 5s are also in default. Interest and principal of the $350,000 notes due September 1 1915 was defaulted and a protective committee was formed with Douglas H. Gordon, President of Baltimore
Trust Co., as Chairman, and deposits called for. V. 101, to. 846. Int.
and prin. of the $100,000 coupon notes due Nov. 1 1915 also in default. The
Central Trust Co. of Chicago. as trustee, has brought suit to foreclose under
the $10,000,000 ref. & 1st M. V. 101, p. 1370. The Baltimore Trust Co.,
alleging that it holds notes against the road, has asked for an extension of
the receivership to cover the notes and collection of all tolls and revenues,
with a view to settling the prin. and int. on the notes. and has petitioned
the sale of the road under foreclosure. The issuance of a reorganization
plan, it is understood, awaits the obtaining of new franchise rights from the
city of Gary. See V. 104, p. 763.
Committee for Gary ee Interurban Railway 1st 53.-Dimner Beeber, Chairman; Counsel, J. Levering Jones, 705 Land Title Bldg., Phila.
Phila., and Hornblower, Miller, Garrison & Potter (Carl M. Owen), 24 Broad
N. Y.
Committee for Gary Connecting Railways. 1st 55.-Chairman, David Halstead. Counsel, J. Levering Jones, Phila.
The depositaries for both committees are the New York Trust Co., N.Y.,
and the Commonwealth Title Insurance & Trust Co., Philadelphia.
ORGANIZATION.-Incorp. Jan. 28 1913 in Indiana as a consolidation
of the Gary & Interurban Ry., Gary Connecting Rys., Valparaiso & Northern By. and the Goshen South Bend & Chicago RR. V. 96, to. 1422.
Prior to consolidation the last-named had owned all the stock of the Gary
Connecting Rys., 51% of the stock of the Valparaiso & Northern By. and
about 40% of the Gary & Interurban Railway's stock, the four companies
having been operated under joint contract.
Merger Decision.-On Nov. 10 1914 Judge Tuthill in the Superior Court at
Valparaiso. Ind., denied the application of minority stockholders to set
See also V. 102, p. 975.
aside the merger. V. 99, p.
Assessment.-An assessment
of 10% on the outstanding capital stock
1451'
of the Gary & Interurban RR. was called in 1914 to pay floating debt, &c.
V. 99, P. 674.
FareReduction.-On Aug. 18 1914 the City Council of Gary caused to
be published a notice that the company must sell 8 tickets for 25 cents.
Authority for this order is based on the franchise granted to President
Gavit in 1907. who, it was claimed, offered a 3-cent fare for 5 years after
the line was placed in operation. V. 99, p. 608. No effort has been made
to enforce the order.
Franchises of old Gary & Interurban By. expire as follows' In Gary, 1957,
Tolleston. 1959: East Chicago & Indiana Harbor. 1949: Hammond, 1939.
In April 1917 Judge Anderson in the Federal Court authorized the issuance of $192,000 receiver's certificates to provide for impts. in Gary and to
refund (about) $50,000 receiver's certificates outstanding. V. 104, p. 1701.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common $4,000,000($100)_
$3,722,875
Pref6% non-c $1,000,000(3100)997.975
Gary & Interurban RyRefunding and first mortgage 1 1910 5 J-J
1,000,000 July 1 1930
$10 000,000 gold ($500 andi Int. in N. Y. or Chic.,or through Lawrence
$1,d00)
Barnum& Co., Central Tr. Co.. Ch., Tr.a
Cony notes $35C1,000 gold 1912 6 g M-8
350,000 Septl 1 915
(8500 and $1,000)
cs Baltimore Trust Company, Trustee.
Gary Connecting Rys.First mtge $400,000 gold! 1911
5 g J-D
400,000 June 1 1921
($500 and $1,000) guar_ _c*(Western Tr.& Say. Bank.Chic.. Trustee,a
Valparaiso & Northern Ry.First mtge $250,000 ($100) gf ---250,000 April 11930
5 g A-0
callable at 105
el Int. at Met. Tr.& Say. Bk., Chic.. Tr.a
Gary & Interurban RR.6%
Coupon notes $100,000 45001 1913
100,000 Nov_l 1915
and $1.000) (closed) gu p&il
Receiver's certificates_
text08.
a William T. Abbott, associate trustee. V. 99, p. 608.
Stock.-Authority has been given to increase stock to $7,500,000 as required. Pref. stock is to share in dividends on same basis with common
after latter has received 4%.
Gary & Interurban Ry.-Remaining bonds may be issued for 90% of cost
of extensions, improvements,&c., under certain restrictions. Subj. to call
at 105 and int. Sk.fd. of 1% of bonds out each year from 1915 to 1920 and
2% thereafter. V. 91, p. 1385. Convertible notes are secured by deposit
of 3500,000 (entire issue) East Chicago Ry, 1st M. 5s, due 1928, and all of
Its $500,000 stock. Were convertible into said bonds at 90 and interest
on Sept. 11915. The East Chicago bonds are guar., twin. and int.. by the
Gary & Inter. By. The deed of trust provides that the Gary & Inter. By.
acquire the E. Chic. Ry. upon the maturity of the notes, when an equal
amount of Gary & Inter. By. ref. 5s, due 1930 will be reserved for the redemption of the E. Chic. By. 1st M.5s due 1928. V. 95, p. 890. Notes
are listed on Baltimore Stock Exchange. The Gary & Interurban RR.
notes are red. at 102 and int. on 60 days' notice. Guar., p. & 1., by the
Gary & Interurban RR., the Valparaiso Northern By. and 'Clary & Interurban Ry. V. 98, p. 610.
Gary Connecting RtI3._First mtge. bonds are subject to call at 105 and int
Int. at Lawrence Barnum & Co., New York. The bonds are unconditionally guaranteed by the Gary & Interurban RR.
EARNINGS.-Of the entire system, including the East Chicago By.
(leased), for year ending Nov. 1 1916, gross, $359,231; net, after taxes,
$7,397.
ROAD.-Operates local lines in Gary and extension through Tolleston
to Hammond and East Chicago (connecting at Hammond with !Inv running
to centre of Chicago). 22 miles; an extension to Indiana Harbor, 13 miles;
La Porte to Goodrum,22 miles: Gary to Goodrum. 16 miles; from Chesterton, through Goodrum to Valparaiso, 12 miles; total miles of track, 85.
Standard gauge; 60 and 85-1b. T rail.
OFFIOERS,-Pres., F. N. Gavit, Whiting, Ind,. sec.
chase.
Gary; Treas., L.E. Woodward,Gary.-V.102, p. 97th V. 164, p.763, 1701.

GENEVA, N. Y.
GENEVA SENECA FALLS & AUBURN RAILROAD CO.. INC.
ORGANIZATION.-Incorp. May 28 1913 as successor of'the Geneva &
Auburn By. sold at foreclosure March 14 1913. Public Serv. Commission
authorized the sale of $524.000 bonds at not less than 85. V.97. p. 298.
The Public Service Commission in May 1915 auth. the issue of $37.150
6% serial notes maturing within 6 years, the proceeds to be used for
additions, improvements, &c. In Dec. 1915 applied for auth. to issue
than an average price of 96.
$35.477 addl notes at not less
In 1917 the Pub. Serv. Comm. auth. the co. to revise the schedule of
fares and put a new fare zone into effect, holding that the co.'s revenues
were not sufficient to yield a fair return on the property investment.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
Stock.$200,000.
$157.100
5%
1913
Bonds. *524.000504.000 July '1 1943
1915
6%
Serial notes
27.000 See text.
EARNINGS.-For year end. Dec. 311916, ',cross, $102,138; net, after
taxes, 634,380. In 1915, gross, $99,688; net, after taxes, $37,415.
ROAD.--Extends from Geneva to Cayuga Lake Park through Waterloo
and Seneca Fails. Length of main tracks 16.31 miles; sidings, .819 mile:
miscellaneous, .36 mile; total, 17.489 miles. Rails, 70, 80. 90 and 100-1b.
T; track standard gauge.
OFFICERS.-Pres., R. R. Quay, Pittsburgh, Pa.; Sec.. L. G. Hoskins,
Geneva, N. Y.; Supt., Treas. & Purch. Agt.. W. A. Shirley, Waterloo,
N. Y.-V. 90. p. 1829; V. 97, p. 298.

43

STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Stock,$300,000
$300,000
First mtge. $800.000. gold 1909 5 J-J
500.000 July 1 1929
($250 and $500)
c Int. at Fidelity Trust Co.. Phila., trustee.
Income bonds $500,000($250 1909 5 July
500.000 July 1 1929
and $500)
Int. at Fidelity Trust Co.. Phila., trustee.
Bonds.-Remaining first mortgage bonds are reserved for extensions,
betterments. &c. They are subject to call at 105 and int. on 3 months'
notice. Int. on income bonds is only payable if earned, and is non-cum.
They are subject to call at par. Bonds have no sinking fund. No interest
has been paid on incomes.
EARNINGS.-For 12 months ending June 30:
Gross
Net
June 30
Other list.,Taxes Est. Depr., Balance,
Year- Earnings. Earnings. Income. & Rentals. ez Replace. Deficit.
1915-16 _$121,837 $45,556
$960
$9,329
$16,248
$39,597
1914-15 ___ 117,532 44,890
418
38,810
9,750
16,248
ROAD.-Owns 31.29 miles of track. Operates between Conneaut and
Erie. Standard gauge; 60-lb. rail; 9 passenger and 8 other cars.
OFFICERS.-Pres.. C. E. Willock, Pittsburgh; V.-P. H. E. Fish,
Erie, Pa.; Treas.. J. R. McDonald. Erie, Pa.; Sec.. J. M. Eiraitb, Girard.
Pa.; Acting Mgr.. J. M. Smith, Girard, Pa.

GIRARDVILLE, PA.
SCHUYLKILL RAILWAY CO.
ORGANIZATION.-Incorporated in Pennsylvania on July 20 1903 and
purchased the property of the Schuylkill Traction Co. and the Lakeside
icy. CO. V. 80, P. 1729.
STOOK AND BONDS-- Date.
Interest. Outstanding. Maturity.
Stock, 3400.000 ($50)-3400.000
First consol mtge.31.450.b00. 1905 58 A-b
640.000 April 1 1935
gold ($500 and 31.000)__c* Int. at Fidelity Trust Co., Phila., Trustee.
Bonds.-Of the remaining first consol. bonds, $760,000 are reserved to
retire the underlying liens in statement below and $50,000 are in treasury.
Are subject to call at par and interest.
EARNINGS.-For year ending June 30 1915. gross, $240,483; net,
$115,249; int. and taxes.$81,718; misc. deductions,$25,959; sur., $7,572.
OFFICERS.-Pres., Powell Evans, Phila.; Sec. & Treas.. J.A.McKee;
Phila. Gen. Mgr., W.S. Leib. Pottsville.-V.82. p. 1157; V.87. P. 286.
(1) Schuylkill Traction Co.-A trolley road.
ORGANIZATION.-Chartered Sept. 26 1892. in perpetuity, under the
Motor Traction Act of March 22 1887. Road opened June 1 1893. On
Jan. 6 1893 leased for 999 years the Mahanoy City Shenandoah Girardville
& Ashland Street By. On Oct. 5 1893 leased for 999 years the Ashland
Locustdale & Centralia Elec. By. Owns all the stock of these two roads,
which is pledged under the first mortgage. On April 27 1900 leased for 999
years the Lakeside By., which connects the two ends of the company's
routes from Mahanoy City to Shenandoah and purchased 2,600 of the 5,000
shares of the capital stock. On Jan. 24 1901 leased the Shenandoah &
Pottsville Street -Ry. for 999 years (incorporated Aug. 1 1900). and from
Pottsville to Shenandoah. 13 miles, and bought all its capital stock. The
Lakeside Shenandoah & Pottsville stock is pledged under consol. mtge.
STOOK & BONDS-Miles. Date.
Interest.
Maturity.
1st M,$500.000,6,3500 22% 1893 5 g A-0
Outstanding"
$500,000 April 1 1943
& $1,000
Int. at Cont.-Equit. T.& T.Co., Trustee, Phila.
let M,Lakeside By. g, 534 1893 4 g M-N
150.000 Nov 1 1923
050,000, guar'd by Int. at Cont.-Equit. T. & T. Co., Philadelphia.
Schuylkill Traction
Trustee.
New consol mtge.
1901
43i g J-4
105,000 July 1 1951
text ($1,000). g_....csiInterest at Fidelity Trust
hila.. Trustee.
Power-house mortgage _
Co.,g.000
Bonds.-The 1st M. bonds of 1893 may be purchased for sink, fund at
105. Sinking fund of $10,000 per annum began April 1 1898. In June
1916 the trustee brought suit for an accounting of net profits from operation
of the properties under the mtge. and asked for the payment of $10,000 or
such part thereof as can be determined to be due, with interest, for each
year from April 12 1905 in which net profits were earned, in accordance
with the sink, fund provisions. Auth. amount of consol. mtge. was $2.000,000, but mtge. has been closed with $105,000 out. Of the outstanding
bonds $36,000 are held in the treasury. Subject to call at 105 and interest.
Sinking fund of 1% of bonds out became operative Aug. 1 1907.
ROAD.-Schuylkill Traction Division. 2234 miles of track, beginning at
Locustdale. thence through Ashland. Holmesville to Girardville. forming
there a Y, one branch running through Lost Creek to Shenandoah and the
other branch to Malzeville. Gliberton and Mahanoy City. Lakeside Division, 54 miles. Total, 28 miles. 60 and 70-lb. T rail. Extensions of 43
Miles proposed and charters obtained. Operates 51 motor cars, 4 work
cars and 2 snow sweepers.-V.80. p. 1729.

GLOVERSVILLE, N. Y.
FONDA JOHNSTOWN & GLOVERSVILLE RR. CO.-Steam and
electric road.-See statement in "Railway and Industrial" Section.

GRAND RAPIDS, MICH.
COMMONWEALTH POWER. RAILWAY & LIGHT CO.
ORGANIZATION.-Incorporated in Maine Feb. 19 1910 to carry out
the plan outlined in V. 90, p. 108. 447, for amalgamating certain gas,
electric light, power and street railway enterprises in Michigan.
Controls through stock ownership the following companies:
Saginaw-Bay City Railway Co.
Consumers Power Co.
Grand Rapids Holland & Chic. By.
Grand Rapids By.
Springfield (0.) Lt.. Ht. & Pow. Co.
Michigan Light Co.
Michigan Railway Co.
Union Railway, Gas & Electric Co.
Manistee Railway Co.
On Dec. 31 1916 constituent companies had outstanding in hands of
the public $70.728.000 bonds and $14790.600 preferred stock.
On May 15 1913 the company acquired (through exchange of new stock
on basis shown in V.96. P. 1296) the outstanding capital stock of the Union
Kv. Gas & Elec. Co. and the Springfield (0.) Light Co.(V. 96. P. 1298)
aud the Michigan Rys.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common ($100)
$18,585,300 May'17.
Q-F
Preferred (6% cum)(MOO).17,951.000 May'17, 1
Q-P
Cony bds. $10.000.000 ($100.1 1913 6 M-N
5.049.000 May 1 19
tf fInt. payable in New York and Philadelphia.
$500 and 31.000)
Stock.-Preferred stock is redeemable at 105 and accrued dividends.
Bonds.-The proceeds of the cony. bonds were used (1) to retire the
82.000.000 notes maturing June 10 1913; (2) for the acquisition of $2.100.000 prof. stock and approximately $1,500,000 notes of Michigan Rrg. Co.;
remainder was available for company's purposes. Bonds are cony. (in
amounts of $1,000 or multiples thereof) on 10 days' notice into an equal
amount of pref. stock at par, and upon conversion bondholders will also
receive common stock equal to 30% of bonds so converted. V. 96. p. 1296.
1556. As of Apr.211917 $1,953,000 bonds had been converted. Bankers
Trust Co., Now York, is trustee.
Dividends.-Quar. dive. of 134% on pref. have been paid since organization. First div. on com.-1%-paid May 11913; same rate quar. since to
and incl. May 1917.
REPORT.-For year end. Dec. 31 1916 will be found in V. 104,P. 554.
Condensed Earnings Statement for Years ending Dec. 31.
1916.
1915.
1914.
Earnings on sub. company stocks_ _ ...$2,866,868 $2,434,825 $2,501,370
Interest, &c., earnings
592,061
647,032
561,571

Gross earnings
33,458,729 $3,081,857 $3,062,941
DeductExpenses and taxes
$151,080 $ 143,859
3138.987
Interest charges
626,974
613,479
653,160
CLEVELAND & ERIE RAILWAY CO.
of debt discount
28,932
28.932
27,060
ORGANIZATION.-Incorporated in June 1909. Is successor to Con- Amortization
stock
preferred
Dividends
of
1,019,170
960,000
960.000
neaut & Erie Traction Co., sold at foreclosure. Owns all the stock and
728,811
695,000
620,000
bonds and leases the Conneaut & Erie Traction Ch. of Ohio, which owns Dividends on common stock (4%)_ _ _
1.99 miles of track. Franchises are for 999 years.
Balance, surplus
$903.761
$640.587
$663,734




GIRARD, PA.

44

ELECTRIC RAILWAYS

Combined Earnings of Subsidiary Companies for Calendar Years.
Balance,
Preferred
Charges,
Net
Gross
Year end.
Surplus.
Earnings. Taxes, &c. Dividends.
Dec. 31- Receipts.
$16,962,606 $8,587,085 $5,936,243 $1,019,170 $1,632,572
1916
1,335.587
960,000
5,329,857
7,625,444
14,590,123
1915
PROPERTY, &c.-Through its constituent companies, owns and operof single
miles
863.80
with
towns
and
cities
90
serving
railways
ates electric
track; revenue pass. carried during year end. Dec. 311916, 102,895,601;
electric light and power companies serving 100 cities and towns with sales
during the year ended Dec. 31 1916 of 315,964,337 k.w.h.; IS hydroelectric plants; 19 steam electric plants with an installed capacity of 196,360
h.p., high-tension transmission lines aggregating 1.304.05 miles in length;
gas companies serving 14 cities, with sales during the year ending Dec. 31
1916 of 2,466,535,600 cubic feet; miles of gas mains, 923.21.
OFFICERS.-Pres., Anton G. Hodenpyl; V.-P., C. M. Clark, Phila.;
V.-P., Geo. E. Hardy; Sec. & Treas.. Jacob Hekma; Asst. Sec. & Asst.
Treas., C. A. Pearson Jr., Phila., and G. H. Bourne, N. Y.-V. 102, p.
714, 1718; V. 103, p. 490, 1687; V. 104, p. 163, 451, 554, 1145, 1800.
(1) Michigan Railway.
ORGANIZATION.-Incorp. July 22 1909 as the Michigan & Chicago
Ry. and on Mar. 21 1914 changed its name to Michigan Ry. On Jan. 1
1916 leased for 999 years the Mich. United Rys. (formerly leased to Mich.
United Traction (1o.) and the Grand Rapids Holland & Chicago Ry.
Franchises.-The company owns In fee the right of way on line from Grand
Rapids to Kalamazoo; from Allegan to Battle Creek and from Saginaw to
Bay City, and for 17 miles of Its line from Saginaw to Flint. Franchises
on the balance of the Saginaw-Flint line are regarded as perpetual.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
*$4.392,000
Common stock $6,000,000_
mtge $15,000.000 gold 1914
See text June 1 1944
5%
Mich. Tr. Co. and Frank A. Gorham, trust.
($1.000. $500, &c)
5 g J-D
6,500,000 June 1 1919
1st lien gold notes $7,000,000 1914
($1,000, $500 & $100) guar Bankers Tr. Co., N. Y., and Detroit Tr.
Co. Detroit, Trustees.
c*
prin & int
• All owned by Commonwealth Power Ry. & Lt. Co. and deposited as
security for the 5-year gold notes (V.98, p. 1893).
Bonds.-Of the $15,000.000 auth. bonds, $7,500,000 is deposited as
part collateral for the notes.
Notes.-The remaining $500.000 notes may be issued only to extent
of 80% of cash expenditures for extensions, impts., &c., under certain
restrictions(V.98, p. 1993). Guar.prin.& int. unconditionally by Common.
Pow., Ry.& Lt. Co. by endorsement. Int. payable in N. Y. or London at
34.8665 per £. Red. on int. dates at 103 & int. in 1916; 102 & int. in 1917,
rend 101 and int. in 1918. $10.307,700 par value of stock of several companies controlled by the Com. Pow.. Ry. & Lt. Co. is deposited as collateral security.
ROAD.-Owns and operates an interurban electric railway 34.52 miles
long, extending from Flint to Saginaw, with branch to Frankenmuth; an
lititerurban railway from Saginaw to Bay City, 10.83 miles, in operation
dnce May 1 1914; a railroad from Allegan to Battle Creek, 42.42 miles,
fdrmerly operated by steam but was electrified; a new high-speed interurban
line, 52.98 miles, extending from Grand Rapids to Kalamazoo. Construction on this line completed in Dec. 1914 and regular service was begun
May 17 1915. Leases the Michigan United Rys.,260 miles, and the Grand
Rapids Holland & Chicago Ry.. 77 miles.
OFFICERS.-Pres., B. C. Cobb; V.-Ps., 11. II. Crowell, Frank Stillman
Jr. and J. F. Collins; Sec., G. B. Dobbin; Treas., J. W. Giondening,
Office, Kalamazoo, Mich.-V. 100, p. 398, 1752; V. 102. p. 522.
(a) Michigan United Rys.-A third rail and trolley system. Leased to
Michigan Railway Co. for 999 years from Jan. I 1916.
ORGANIZATION.-Incorporated in Michigan on March 31 1906 and
on May 1 1906 took over the Michigan Traction Co., the Michigan Traction
Extension Co., the Jackson & Battle Creek Traction Co.and the Lansing &
Suburban Traction Co. The Lansing & Jackson Railway Co. has also been
deeded to the Michigan Un. Rys.
In 1908 purchased Jackson Consolidated Traction Co. V. 84. p. 1183,
and V. 87, p. 285. Latter company's franchises in Jackson expire In 1960.
The City of Jackson has the right to purchase the Jackson Consolidated
Traction at an appraised value in 1930 and each 5 years thereafter.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
36.000,000
Common.$6.000,000 ($100)See text
1.000,000
Pref 31,000,000($100)6% Cu.. ____
9,797,000 May 11936
5 g M-N
let & ref mtge 312,500,0001 1906
gold ($1,000, $500, $250,1 Int. at Columbia Tr. Co., N. Y., trustee.
or Nat. Provincial Bk. of Eng., London.
_c&r.tf
$100 and $50)
5 g J-J
Mich Trac 1st mtge
302.000 Jan 1 1921
1901
$700,000 ($1,000) g c*..ntt Interest at New York Trust Co., Trustee.
5 g J-D
316,000 Dec 1 1923
Michigan Trac Ext 1st mtge 1903
$500,000($1,000) g„..c..tf Int. at Columbia Tr. Co., N. Y., Trustee.
1.200.000 Jan 11923
Jackson SE Battle Creek first 1903
5 g J-J
mortgage, $1,200,000 ($1.- Interest at Citizens' Savings & Trust Co.,
Cleve.. Trustee, or First Nat. Bk., N. Y.
c* tf
000) gold
5 g M-N
790.000 May 11934
Jackson Consul Trac let mtge 1904
31.000.000 gold (5100,55001 interest at Guardian Trust Co., New York.
..c* tit Trustee.
and $1,000)
Bonds.-Of the $12,500,000 first and refunding bonds. sufficient are
reseaved for prior liens and remainder for addns., bettormts and impts.
&abject to call at 110. V.82, p. 1157. See also V.87, p. 167, 285; V. 88.
14,37. Bonds are listed in London. V.90, p.914. The Jackson COTIS01.
Tree. Go. bonds are subject to call on any int. date at 105.
an the MIshigan Traction Co. bonds a sinking fund of 5% of gross earnings commenced in 1903. to be used in buying bonds at not to exceed 110;
otherwise to be Invested In other standard securities. V. 72. p. 391;
$398.000 Mich.Trac. 1st M.bonds and 3184,000 Mich. Trac. Ext. 1st M.
bonds were hold in sinking fund on Mar. 31 1917 and are not included in
the amounts above.
The Jackson & Battle Creek bonds are subject to call in any amount
after 10 years at 105 and Interest. V.75, p. 1147.
Diiridends.-6% is being paid on preferred stock.
REPORT.-Earnings are no longer reported separately.
ROAD.-Operates all city lines in Jackson, Battle Creek, Kalamazoo
and Lansing and interurban lines between Jackson, Battle Creek and Kalamazoo, and between Jackson. Lansing and St. Johns. Lansing and Owosso,
and from Jackson to Grass Lake and Wolf Lake; total operated, 260 miles.
Through service between Jackson and Lansing began in Nov. 1909. Operates through service to Detroit over Detroit United Ry. lines under traffic
agreement, connecting from Jackson. \'. 94, p.68. 207; V.96. p. 1423.
(b) Grand Rapids Holland 8: Chicago Rv.
Com. Pow., Ity.Sz Lt. Co. owns all the pref. and practically all the corn. stk.
Leased to Michigan Railway Co. for 999 years from Jan. 1 1916.
ORGANIZATION.-Incorporated in Michigan in July 1904 and is a reorganization on Aug. 1 1904 of the Grand Rapids Holland & Lake Michigan
Rapid Ry. See V. 79. p. 627. Power is supplied to company by Grand
Rapids-Muskegon Power Co.. but company maintains own station in readiness to operate In case of emergency. Franchises in city of Holland and
village streets expire in 1928 to 1930; remainder on private rights of way.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$487,900
Common,$500,000
Pref,3850.000,6%
836,800
5 g F-A
1,475.000 Aug 1 1920
1st mtge, Grand Rapids Hol.1 1900
& Lake Mich, $1,500,000, Int. at American Tr.& Say. Bank, Chicago.
Trustee, or at Guaranty Trust Co. N. Y.
gold ($500 and 31.000) _ntf
Bonds.-A sinking fund Is provided of $5,000 per annum for first 5 years.
$10,000 per annum for second 5 years, 315,000 yearly for third 5 years and
$25,000 per annum for fourth 5 years. Bonds are not subject to call.
ROAD.-Operates 77 miles of track from Grand Rapids through Holland
to Macatawa and Saugatuck. with steamer connection at Holland for Chic.
-v.78, p. 702; 768; V. 79. p. 627; V.96, p.1422;. V.100, p. 140.
(2) Union Railway. Gas fc Electric Co.
Merger.-Under the plan dated April 26 1913. practically all the 35,250,000 pref. stock was exchanged for 35,250.000 new pref. and 3525,000 new
com.stock of the Commonwealth Pow., Ry.& Lt. Co., and the 36.000,000
corn. for an equal amt. of new corn. or $1,500.000 pref. and 34.500,000 corn,
ORGANIZATION.-Incorp. In New Jersey June 29 1909 and ac(wired practically all of stocks of Springfield (III.) Ry. & Lt. Co., the Rockford (I11.) & Inter. Ry. Co., the Peoria Lt. Co., and the Evansville
Light Co., per plan in V. 88. p. 1501; also all the stock and bonds of




[Vol.. 104.

the Janesville Traction Co. ($125.000 stock. $50,000 bonds), and all the
stock ($497,500) and all the 1st ref. bonds ($382.000) of the De Kalb-Sycamore & Interurban Trac. Co. On Dec. 11 1916 the stockholders voted to
dissolve the Evansville Light Co., which owned the entire $3,000000 common stock and $950,000 of the preferred stock of the Public Utilities Co.
The latter was incorp. In June 1912 and merged the Evansville & Southern Ind. Trac. (see "Elec. Ry. Sec." of May 1012), Evansville Gas & Elec.
Lt. Co. and Evansv. Pub. Serv. Co. On Oct. 14 1912 Circuit Judge William Blakey sustained the demurrer of the Public Utilities Co. in a suit
brought to dissolve the company, holding that the consolidation was in accordance with the statutes (V. 95, p. 1040), and in Dec. 1912 he dismissed
the suit. V. 95, p. 1747. The Union By. Gas & Elec. Co. owns $1,872,000
0 cum. prof. and all the $5,000,000 corn. stock of the Cont. Illinois Lt. Co.
/
627
(v• 99, p. 1132) which was incorp. in April 1913 and took over the properties
of the Peoria Gas & Electric Co., Citizens' Gas & Elec. Co. of Pekin and
Its subsidiary company. the Pekin Lt., Ht. & Power Co. Washington (Ill.)
Lt. & Power Co., Elmwood Elec. Lt. Co.. Farmington I.A. & Pow. Co. and
the Electric Service System. In March 1917 the Central Illinois Light Co.
Increased its auth. capital stock from $5,500,000 to $20,000,000. The
Union By., Gas & Elec. sub. cos. own and operate street railway properties
in Springfield and Rockford, Ill., Evansville, Ind., and Janesville,'Wis., and
interurban lines from Rockford to Freeport and Belvidere, Ill., through
Beloit, Wis., to Janesville, Wis.,from Do Kalb to Sycamore, Ill., and from
Evansville to Princeton and Patoka, Ind.; also gas, electric and steamheating properties in Peoria, Springfield and Pekin, Ill. and Evansville,
Ind.; electric light and power and steam heat in Do Kafb and Sycamore,
Ill., and electric properties in numerous other cities and towns in Illinois.
In Apr. 1916 issued $3,000,000 3-yr. 5% notes to refund $1.500,000 Un.
Ry. G. & E. Co. 5% notes and $1,555,000 Pub. Utilities Co. 6% coll. tr.
notes which matured Mar. 1 1916. V. 102, p. 1541.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
See text
36,000.000
Common 36.000.000(3100)5.250.000 Apr'17, 1
6 Q-J
Prof$12.000,000 cum (51OO).- „
4.000.000 July 119
5 J-J
Collateral trust mtge, gold! 1909
($500 and 31.000) --c*...tflOommercial Trust Co., Phila., Trustee.
5 A-0
3.000.000 Apr. 1 1919
1916
Gold notes($1.000)c*
Springfield Ry. & Light Co.
5 g J-D
4,175,000 June 1 1933
Springfield Ry&Ltt coil tr M 1903
$5,000.000 g (31.000) c'"..tf Fidelity and Columbia Tr. Co., Loulsy.,trus.
5 g J-D
750,000 June 1 1933
Springfield Con By consol 1893
mtg $750.000g(31.000) c.tf Columbia Trust Co.. Louisville. Trustee.
Rockford c% Interurban Ry. Co.1.710,000 Oct 1 1922
5 g A-0
Rockford & Inter - Urban-f 1902
1st mtge. gold (3500 and( interest at First Nat. Bk., N. Y., or at Con$1,000) $3,000.000_c*..ntfi tinen. & Corn. Tr.& Say. Bk., Chic-trus.
573.000 May 1 1923
5 g M-N
Rockford & Freeport first 1903
mtge. $750,000. gold, gu Int. at Con.& Corn. Tr.& Say. Bk., Chicago
Trustee.
13 & 1 (31,000&3500)c*_ntf
991.000 Oct 1 1930
Rockford Bel & Janesville 1st 1905
5 g A-0
mtge g ($1,000) s f _c*..tfi Int. at Cont. & Corn. Tr.& Say. Bk., Chic..
Trustee, or First Nat. Bank, New York.
De Kalb-Sycamore & Interurban Trac. Co.J-D
5.000
1922
De Kalb-Sycamore Electric! 1907
-n tflInt. at Cont.& Com.Tr.& S. Bk.. Chic.. Tr
first mortgage
Central Illinois Light Co.5 J-J
2,500.000 Jan 1 1923
Peoria Gas & Elec. Co. 1st M.1 1903
52,500.000 g ($1.000)..c*tfIllankers Trust Co., New York,Trustee.
3.835,000 April 1 1943
Cent Ill Lt let & ref M 315.- 1913 5 g A-0
000,000 ($100, $500. $1,- Bankers Trust Co., New York. Trustee.
c*
000)
5 F-A 15
4,000
1922
Citizens Gas & Electric 1st M 1902
ntf Int. at Merchants' Loan & Trust Co., Chic.
$200.000
Public Utilities Co.5 J-J
15,000 July 1 1942
Pub Util Co let lien & ref A,I 1912
510.000.000 (31.000)--tf Commercial Trust Co, Phila., and Charles
P. Lineaweaver. Trustees.
6 J-J
2,520,000 Jan '17,3%
Pub Util prof 33,000,000 cum- ___
5 g J-J
41.000 Jan 1 1937
Evansv & So Ind let con Mt 1907
$4.000,000 g (31.000)..c*tfiCommercial Trust Co. Phila.. trustee.
1200,000 May 1 1921
4 g M-N
Evansville El By 1st mtgef 1901
$1,200,000 g ($1,000) _Ott Int. at Farmers L.& Tr. Co., N.Y.. trustee.
300,000 April 1 1923
5 g A-0
Evansv Sr Prince 1st mtge 1903
fundg old($1.000)sink- Int. at Cit. Say. & Tr. Co., Clove., Trustee.
E120
or at First National Bank, New York.
c&r...tt
1,210,000 June 1 1932
5 J-D
Evansv Gas & El Lt 1st & ref 1902
mortgage $1.250,000 gold Int. at Cont. & Corn. Tr. & Say. Bk.. Chic..
Trustee, or at First Nat. Bk.. New York.
c*.tf
51000)
Stock.-Pref. stock is subject to call at 105 and accrued dividends.
Bonds.-The Union By., Gas 8: Elec. coll. trust mtge. Is secured by deposit of practically all stocks (corn. & pref.) of subsidiary cos. Additional
bonds may be issued only under rigid restrictions (V.89. p. 226). Interest
Is payable at Hodenpyl, Hardy & Co., N.Y.,and E. W.Clark & Co., Phila.
Bonds redeemable at par & int. on 60 days' notice. They are convertible
Into pref.,stock at par. V. 89, p. 226; V. 93, P. 528. rho 3-year notes
are secured by bonds of the U. By. G.& E. Co. and underlying cos.. aggregating $4,000,000. Red. at 101 and int. on Apr. 1 and Oct. 11917, and
10Wi and int. on Apr. 1 and Oct. 1 1918. Int. payable at office or agency
of co. In N. Y. Bankers Tr. Co., N. Y., trustee. Additional notes may
be Issued with certain restrictions. See V. 102, p. 1541.
Springfield Railway et Light Securities.-Of the Springfield Railway &
Light collateral trust mortgage of 1903. $128,000 are reserved for additions and improvements to constituent companies and 3750,000 for prior
and
liens. The bonds are subject to call on 60 days' notice at 107
int. Interest is payable at Columbia Trust Co., Louisville, and at Hodonpyl, hardy & Co., Inc., N. Y., and E. W. Clark & Co., Phila. Int. on
Springfield Consol. Ry. bonds is payable at Fidelity and Columbis Trust
cos., Louisville. and at Hodonpyl, hardy & Co., Inc., N. Y.
Rockford & Interurban Ry. Securities.-Sinking fund on Rockford &
Inter-Urban bonds of 5% of gross receipts commenced In 1908. 5202,000 of bonds in add'n to those reported outstanding above are held in the
sink. fd. Add'I bonds can be issued for extensions and improvements at
85% of cost. The entire issue is subject to call at 105 and interest. The
Rockford & Freeport bonds are assumed, pork'. & Int., by the Rockford &
Inter-Urban Railway Co.; $52,000 are held in sink. fund. A sinking fund
equal to 6% of gross earnings began in 1910. Bonds are subject to call
at 105 and interest. V. 78. p. 1276. A sinking fund on the Rockford
Beloit & Janesville bonds began In 1915 of 2% of gross earnings of that
division. They are subject to call at 10234 and interest. They are guaranteed. p. & I.. by the Rockf. & Inter-Urban. 39.000 in 8. f. Mar. 31 1917
De Kalb-Sycamore Electric., $96.000 in sinking fund.
Gentra I Illinois Light Co. Securities.-Peoria Gas & Electric bonds are subJect to call at 105 and int. Int. thereon Is payable at IIodonpyl, Hardy &
Co., Inc., N. Y. Sinking fund of 5% of grass earnings began Jan. 1 1910.
Sinking fund may be used by company for additions to property against
which no bonds have been issued. Of Citizens' Gas & Electric bonds,
$47,000 have been retired through sinking fund. Central Illinois Light
bonds are red. at 105 and accrued Int. on 60 days' notice. Of tit( remaining
bonds $2,500,000 are reserved to retire Peoria Gas & Electric 1st M. 5s,
$4,000 to retire Citizens' Gas & Elec. bonds, while $8,829,000 are reserved
for acquisition of new property, additions, itnpts.. &c.. under certain
restrictions (V.99, p. 1132). Sinking fund of % of 1% p. a. begins April 1
1917, of total amount of bonds of this issue outstanding and all underlying
issues for the purchase of these bonds (or call at 105) or for acquisitions,
!rants.. &c. V. 99. p. 1132.
Public Utilities Co. Securities.-Of remaining Public Utilities Co. ref.
mtge. bonds, $44,358,000 are reserved for prior liens and $4,700,000 are for
aMitions and improvements. $900,000 of the $942,000 bonds issued are
pledged to secure Un. Ry., G. & F,. Co. 3-yr. gold notes and 327,000 are
owned by Union Ry., Gas & El. Co. Int. at Hodenpyl, Hardy & Co., N. Y.
Callable on any int. date at lom & int. Tho Evansville Gas & Electric
Light Co. must call at 105 and Interest $10,000 annually on June 1 1913
to 1922, inclusive, and $15,000 on June 1 1923 to 1932, inclusive; $40,000
have been retired. They are subject to call at 105 and interest. Of the
Evansville & Southern Indiana first consolidated bonds, $1,600,000 are
reserved for prior lions. The Evansville & Princeton first 5s have a
sinking fund of $10,000 per annum, which began Feb. 11908, said fund to
be invested in the bonds at 105 beginning with No. 1. $50,000 have been
redeemed. Whole issue of these bonds may be called at any time at 11()
and int. L. W. Prior of Cleveland is co-trustee of this mortgage. Evansville Elec. By. bonds cannot be called. The Evansville Public Service
Co. in 1913 made a mtge. to the Bankers Trust Co. N. Y., to secure an issue of 31,000.000 bonds. These bonds have been issued to reimburse the
Public Utilities Co.for impts.. &c., but none outstanding in hands of public.
Dividends.-First div., 134(7o, on pref. paid Oct. 1909 and same amount
quay, since to and including A pr. 1917. First div. on corn.-1%-paid

MAY, 1917.]

ELECTRIC RAILWAYS

45

(7) Consumers' Power Co.
April 1 1913; July 1. 1%; Oct., 1%. In 1914, Jan., 1%. Corn. Pow.. Ry.
& Lt. Co. owns practically all the stock and diva, no longer made public.
All the common stock is owned by Corn. Pow., Ry.& Lt. Co.
EARNINGS.-Combined earnings of subsid. cos. for 12 mos. ending
ORGANIZATION.-Incorp. in Maine in 1910, and in Nov. 1914 merged
Feb. 29 1916, gross, $4,931.533; net, after taxes. $2,301,635; interest charges the following 11 companies (previously controlled by stock
ownership):
$1.265,894; surplus, $1,035,741.
Commonw.Power Co.. Grand Rapids-Muskegon Power Co., Grand Rapids
ROAD.-Rockford & Inter-Urban operates 35.85 in.of trolley in Rock- Edison Co.. Mint Elec. Co., Saginaw Power Co., Bay Cit3- Power Co..
ford, 13 miles between Rockford and Belvidere; also 28 miles of Rockford Pontiac Power Co., Consumers' Power Co. (Mich.). Economy Power Co.,
& Freeport Electric Hy. between points named in title, and 35 miles be- Au Sable Electric Co. and Central Power Co.
tween Rockford, Ill., and Beloit and Janesville, Wis. Total. 111.51 in.
This merger made the Consumers' Power Co. (of Maine) an operating
Springfield By.& Lt.Co.operates 43.24 miles in Springfield, Janesville Trac. company instead of a holding company and on July 20 1915 it was granted
Co.operates 5 m.in Janesville. Wis..and De Kalb-Sycamore & Inter. Trac., a certificate of authority to do business in Michigan. V. 99. p. 1528. 1597:
8 m..connecting De 1Calb and Sycamore. Ill. Public Utilities Co.operates V. 101, p. 369. At the same time the RR. Comm. approved the then
abt.69 m.in Evansville and between Evansville. Princeton and Patoka,Ind. outstanding issues of common and preferred stocks and fat lien and ref.
OFFICERS.-Pres., G. E. Hardy; V.-Ps., C. M.Clark and B. C. Cobb; 5% bonds and authorized the company to issue additional bonds from time
Sec. & Treas., Jacob Ilekma, New York.-V. 102, p. 1541; V. 104. p. 74. to time upon procurement or retirement of the underlying bonds shown in
the table.
V. 101. 1:.• 369.
In Jan. 1916 acquired the Cadillac Water & Lt. Co. and the electric
(3) Springfield (0.) Light. Heat & Power Co.
property of the Manistee Pow. & Lt. Co.
Entire capital stock is owned by Corn, Pow., By. & Lt. Co.
ORGANIZATION.-Incorporated in Maine in Aug. 1908. Franchises
STOOK AND BONDSte. Interest.
Outstanding. Maturity.
Common 512.000,000 ($100)----510.703,000
extend beyond maturity of bonds.
-In Feb. 1916 the Ohio P. (1. Comm. auth. the issuance of $181,000 5% Pref $10.000,000($100)6%cum ____8.500.000 Apr '17,1
16,473,000 Jan 1 1930
Gen. & Ref. M. bonds and $100,000 pref. stock to reimburse the company 1st lien and ref M, 535,000,- 1911 5 g J-J
000. gold ($1.000)____c*tt Int. at Harris Ti'. & Say. Bk., Chicago,
for capital expenditures, &c. V. 102, p.614,810.
Harris,
Forbes & Co.. N. Y.
or
Trustee,
Interest.
Date.
Outstanding.
Maturity. Comm Pow
STOCK AND BONDS1st M. $4,000,- 1904 5 J-D
1,090,000 Dec 1 1924
$1,000,000
Common stock ($1,000,000)g sink fd (51.000)_c*tf Int. at First Trust& Say Bk.. Chic.. Trustee
000
($1,000,000)439,000
stock
Preferred
667.000 Mar 1 1931
5 A-0
603,000 April 1 1933 Grd Rap-Musk Pow 1st M 1906 5 M-S
Spring Lt, H & P gen & ref MI 1913
$7,500,000. gold
tf Int. at 1st Tr.&S.B., Chic., or lstN.B..N.Y.
$5.000,000 ($1,000). Rod{Int. at N. Y. and London. Mich. Trust Cadillac
NV
&
Lt
1st
M.5200.132.000
Sept. 1 1925
5
1905
M-S
Rapids,
Grand
Co.,
interestentt
Trustee.
at 105 and
000 MOO & $1.000)--c*tf Int. at Mich. Ti'. Co., Grd. Rap., Trustee.
703,000 Feb 1 1929
Springfield Light, Heat &I' 1909 5 F-A
Stock.-Pref. stock is red. on and after Jan. 1 1920 at 105 and accr. div.
Power first mortgage-tf Int. at State Say. Bk.& Tr.Co.,Col.,O.,Tr.
Bonds.-Sufficient gen. and ref, bonds are reserved to retire at or before
Bonds.-Of 1st & ref. bonds, sufficient are reserved to retire underlying
maturity the outstanding 1st M. bonds. Remainder for extensions, en- bonds; remainder are reserved under certain restrictions
for extensions and
largements and additions at 85% of cost with certain restrictions. See additions at 80% of cost. Subj.
to call any int. day at 105 and int. Sink.
first
mortgage
bonds
$47,000
in
sinking
fund.
V. 102, p. 1352.
fund of 1% p.a.of bonds out began Jan. 1 1915. V. 92, p. 465, 526, 1458.
EARNINGS.-For cal. year 1916, gross. $382,308; net, after taxes,
Dividends on pref. have been paid regularly since organization.
5181.723.-V. 100 p. 1923; V. 102, p. 614, 810, 1352.
EARNINGS.-For 12 mos. ending Dec. 31:
(4) Grand Rapids Ry.-Trolley.
YearGross
Net (aft. Taxes) Interest, &c. Pref. Divs.
Surplus.
All the common and $500,000 pref. stock is owned by Corn. Pow.. Ry. & 1916
$4,747,201 $2.528,031 $897,988 5463,750 $1,166,293
Light Co.
1915
3,902,069
2,294,323
879,329
1,010,619
404,375
ORGANIZATION. &C.-Incorp. in Michigan in April 1900 as a sucPROPERTY.-Owns and operates electric light and power propercessor company to the Consolidated St. By. Owns and operates the entire ties in Grand Rapids. Kalamazoo, Jackson, Flint. Saginaw,
City,
street railway system of Grand Rapids and vicinity. Franchises expire in Pontiac,Battle Creek, Muskegon,Cadillac, Owosso. Manistee andBay
a number
and
in
1929.
1921
,
of intermediate cities and towns. Hydro-electric plants have about 66,000
Interest. Outstanding. Maturity, h.p. and steam plants about 77,000 h.p. capacity. Total generating
STOCK AND BONDS- Date.
capacity about 143.000 h.p.
See text
$2,000,000
Stock corn $2,000,000 ($100)2,000,000 May'17,1(
Prof $2,000,000 cum 5% ($100f ---,
Q-P
OFFICERS.-Pres., B.O.Cobb, New York; V.-P., E. W. Clark, Phila.,
3,500.000 June 1 1910 V.-P., Geo. E. Hardy, N. Y.; Treas. & Sec., Jacob Ilekma, N.
First mtge $5,000.000 gold 1916 5 g J-D
Y.-V.99,
c* Int. In N.Y. Bankers Trust Co..N.Y.,trus. P. 1451, 1528, 1597; V. 100. p. 400; V. 101, p. 287. 369; V. 102. p. 253.
($1,000)
Bonds.-$3,500,000 were sold in July 1916 to refuel $3,023,000 old 1st
(8) Manistee Railway Co.
M. bonds due Juno 1 1916 and for other corporate purposes. Remainder
Incorp. in Mich. in March 1913. Successor to Manistee Lt. & Trac.
can only be issued for 80% of cash cost of extensions, enlargements and
additions, when annual net earnings are twice the total interest charge, in- Co., sold at foreclosure in 1912. The Manistee Pow. & Lt. Co. then took
cluding bonds proposed to be issued. Red. as a whole at 10134 and int. over the gas and electric properties but in Jan. 1916 these were respectively
on Dec. 11916; 101 and int. June 1 or Dec. 11917,and 10034% and int. acquired by the Michigan Light Co. and the Consumers' Power Co.
June 1 or Dec. 11918. Tax-exempt in Michigan. V. 103, p.144.
Does the street railway business in Manistee and Filer City. Franchise
Dividends.-5% has been regularly paid on pref. stock since organization. 30 years from 1904.
REPORT.-For years ending Dec. 31:
Stock.-$100,000, all owned by Corn. Pow.. By. & Lt. Co.; also 560.000
YearGross. Net(aft. Tax.) Interest.
Pref. Div. 'Surplus. let mtge. 5s, due 1943.
'1916
$469,561
$186,919
$1,297,586
$01,667
$190,975
ROAD.-Operates 7.64 miles of track. Gauge 4 ft. 83f in. 35 to 106
1915
343,651
1,176,450
165,187
75,000
103,464 b. T and 85-lb. girder rails. Operates a 50-acre park on Lake Michigan.
ROAD,&0.-28.48 miles double and 10.80 miles single track; total single.
OFFIOERS.-Pres., C. J. Holmes; V.-P., W. H. Barthold: Sec., G. B.
track equivalent,67.75 miles. 155 passenger and 21 misc. and service cars. Dobbin; Treas., J. W. Glendening.-V.
85. p. 864; V.88, P. 158,
2 pleasure parks, &c. Power is obtained from Consumers Power Co.
under satisfactory long-time contract.
UNITED LIGHT & RAILWAYS CO.-(See Map. page 46.)
OFFICE RS.-Pres. and Gen. Mgr., B. S. Hanchett; V.-P., B. C. Cobb;
ORGANIZATION.-Incorporated in Maine in July 1910, per plan in
Sec. & Treas., L. J. Do Lamartor. Office, Grand Rapids, Mich.-V.84.
p. 220, 749; V. 85, p. 40; V. 95, p. 891; V. 100. p. 555. 1672; V. 103.P. 144. V. 91. p. 96. Owns all except directors' shares, or a large proportion (in
only one case less than 98%)of the capital stock of the following companies:
Railway
t...o.
(5) Saginaw-Bay City
Cadillac (Mich.) Gas Light Co.
La Porte (Ind.) Gas & Elec. Co.
Entire stock (except directors' shares) is owned by Com.Pow..RY.&Lt.Co. Cedar
Rapids (Ia.) Gas Co.
Mason City & Clear Lake (Ia.) RR.
ORGANIZATION.-This company is a consolidation of the Saginaw Cedar Rapids & Marion
City By.Co. Ottumwa (Ia.) Gas Co.
Valley Traction Co. and railway dept. of the Bay City 'Fraction & Elec. Co. Chattanooga (Tenn.) Gas Co.
People's Gas & Elec. Co.. Mason C'y.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. Fort Dodge (Ia.) Gas & Electric Co. Tr -City Railway & Light Co.
All owned by Commonw. Pr., Ry.&
Stock, $2.600,000
Lt. Co. Grand Rapids Grand Haven & Mus5850,-i 1910
5 m..8
kegon (Mich.) By. Co.
First and refunding mortgage
$1,100,000 Mar 1 1935
$5,000,000 ($1,000)_ _c*tf Michigan Trust Co., Grand Rapids, Trustee.
The Grand Rapids-Grand Haven & Muskegon Ry. was acquired in Jan.
Val Tr 1st M,
1899 5 g F-A
Sagaw
in
670,000
Feb
1912;
V.94, p. 209. The Tri-City By.& Light Co. was taken over in June
1
1920
000, g ($1.000 each)_c*ntf Int. at Boston Safe Dep.& 'Fr. Co., Trustee. 1912• V. 94, p. 769. The Cedar Rapids & Marion
City By. Co. was
Bonds.-Of the 1st & ref. bonds. 3850.000 are reserved to retire Sag. Val, acquired in July 1912.
85%
remainder
for
of
bonds;
cost
Trac.
of additions, &c. Red. on any int,
In
People's
purchased
the
Gas
Feb.
&
1913
Electric
Co.
the Mason.
date on 60 days' notice at 105 and int. Int. at Hodenpyl, Hardy & Co.. City & Clear Lake RR. In 1913 also acquired the Iowaand
& Illinois By.
New York.
but
Ry.
in
the
Term.
Ill.
Iowa
and
&
Jan.
1916
these
two
cos. were
A sinking fund of $8,500 per annum on Sag. Val, Trac, bonds begins Feb. 1 consolidated with the Davenport
Co.,
8r Muscatine By. (forming the Clinton
1907 and runs for 5 years, after which $17,000 per annum is payable, said Davenport & Muscatine Ry.) under the management of the Tr
-City
By.
bonds
the
at
not
in
invested
fund to be
above 10734 and int. Sinking fund & Light Co.
held on Mar. 31 1917 $180,000 of bonds.
OPERATIONS.-Does entire gas business in Davenport, Cedar Rapids
1913,
Dec,
months
31
ending
EARNINGS.-For 12
gross, 5642.680; net, (supplying also suburbs of Marion and Kenwood Park and intervening
after taxes. $230,689.
territory). Ft. Dodge, Iowa City, Mason City, Bettendorf, Ottumwa and
ROAD.-Operates about 63 miles of street railway track in Saginaw and Muscatine, Ia.; Cadillac, Mich., La Porte, Ind., Rock Island, Moline,
line
East Moline, Milan, Silvis and, Watertown, 111.; and Chattanooga, Tenn.;
between
Interurban
the
incl.
City,
Bay
two cities.
power business in Davenport, Ft. Dodge, Iowa
OFFICER,S.-Pres B. O. Cobb; V.-Ps., H. T. Wickes, J. E. Davidson entire electric-light and Muscatine,
Ia.; Rock Island, Moline and East
City,
Mason City and
B.
G.
Dobbin; Treas. J. W. Glendening; Amt. Moline,
and J. A. Cleveland; dec.,
Ill., and La Porte, Ind. Has hot water and steam-heating system
Sec. & Asst. Trans., S. E. Wolff.- V.94. P.983;
'
V. 95. P. 298, 481.
In Davenport and Mason City, Ia., and La Porte, Ind. Operates street
(6) Michigan Light Co.
railways in Cedar Rapids. Marion, Mason City, Muscatine and Davenport.
Ia.. and Rock Island, Moline and East Moline, 111.• interurban railways
All the common stock is now owned by Corn. Pow., By.& Light Co.
are operated between Cedar Rapids and Marion, la.; Mason City
ORGANIZATION.-Incorp. in Mich. In 1914 and took over
and
and con- Clear Lake, la.; Davenport and Clinton, la • Davenport and Muscatine,
solidated the following companies:
Ia.; Davenport, Ia., and Rock Island, Moline'
and East Moline, Ili., Grand
'Flint Gas Co.,
Jackson Gas Co.,
Bay City Gas Co.
Rapids, Grand Haven and Muskegon, Mich. In all, 53 communities, with
'Saginaw City Gas Co., 'Kalamazoo
Pontiac Light Co..
Gas Co.
a population estimated at 567.000 are served. Franchises, with one minor
As of Jan. 1 1916 acquired gas property of the Manistee Pow. & Lt. Co. exception,
expire from 1921 to 1960; approximately 73% are indeterminate
In Feb. 1916 issued $1,125,000 let & ref. M. bonds to retire $857.000 or extend beyond 1932.
Saginaw City Gas Co. bonds due May 1 1916 and to reimburse the co, in
In Nov. 1916 issued 51.500,000 cony. 6% debentures to retire 5443000
part for permanent eats., &c.. made.
underlying bonds and floating debt and provide additional working capital.
Interest. Outstanding. Maturity V.
STOCK AND BONDS- Date.
2079.
Common stock
Transr
103.I. Agencies.-Stock transfer agencies are maintained in New York,
$3,175,930
cumulative.----Q-J
In Chicago and in Grand Rapids. See V. 97, P. 1358.
Preferred 6%
2,750.000
Apr
'17,1)4
let & ref M gold ($1,000A 1916 5 M-3
STOOK AND BONDS.- Date.
Interest
Outstanding. Maturity.
$500 and $100)..-_-__c*j Union Trust Co.. Deir
6g,i2t,59
19ruligre.1 19
Common $12,500,000($100)_ _ --__
Q-J
56.900,400 Apr '17.1%
g -D
Bay Cit Gas 1st M ,5500,000
1st pref $12,500,000 ($100)1
Interest at New York 3
g ($500 & 51.000)_ ___c
1VtirCj
6% cum
o.u.°Trustee.929
Q-J
10,073,300 Apr '17. 131
5 M-N
Flint Gas Co 1st M.$500,000 1904
493,000 Nov 1 1924 First & ref mtge gold ($100. 1912 6 g J-D
8,702.000 June 1
($500 & $1,000)___c*ntt Int. at Mich. Ti'. Co., Ord. Rap.. Trustee.
$500 & $1.000)____e*&r tf New York Trust Co.. N. Y.. Trustee.1932
5 A-0
Jackson Gas Co mtge, $350,- 1897
340,000 April 1 1937 Cony debentures gold ($100.1 1916 6 g M-N
2.000,000 Nov 1 1926
Illinois
(51,000)___c*11tf
Trust
&
000 gold
Say. Bank, Chic., Trustee.
$500.$1.000,&c)__c*&r*tflInt, at New York Tr.O2
20
o5.,.N.
000Yjsaa
,n
t
trustee.
Kal Gas Co let M,$450,000 1900 5 J-J
388,000 Jan 1 1920 Notes $3.000,000 (51.000. 1915 66 J-J
cntf1 Int. at Mich.Trust Co., Ord. Ran.,Trustee.
(51.000)
gold
$100)
$500
Y.
&
c*
N.
Trust
trustee.
Co.,
Pontiac Light Co consol mtge
179,000
Chattanooga
Jan
sl.50ooo
1
1927
g
Gas
on
541,000 Jan 1 1927
1N15 1Trust Co Grd Rap.,Trustee
at1ct
1992
$230,000, g (31.000)-00 Int.
f In1t. a Con.997t5.14
ct
tg
*e
& Corn. Tr5
.
f0
111
00
t)_m
.0&
0,0
S0
a0v. Bk., Chic..
Bonds.-$1,768,000 1st & ref. M. bonds are reserved to retire prior liens,
Trustee. or First Nat. Bank New
York.
Additional bonds may be issued for 75% of cash cost of permanent exts.. Chatt Gas Co pt stock ($100)_ ---6 Quar
&c., under conservative restrictions. Red. at 105 & int. on any int. date People's Gas & El Gen Mtgef 1906 6 A-0
370,000 April 1 1931
on 30 days' notice; tax-exempt in Mich. V. 102, p. 613, 890. Bay
$500,000
Int.
at
tf
I
Central
Tr.
Co..
Chicago, Trusts s
City
and Jackson bonds are red. at 110 & int. Kalamazoo, Pontiac and Flint
For securities covering railway properties see separate companies below.
Issues are rod. at 105 & int. Int. on Jackson Gas Co. bonds
Stock.-lst pref. stock is red. at 105 and accr. diva The 2d pref. stock
is payable at
Hodenpyl, Hardy & Co., N. Y.
was cony. Into 1st pref. or corn. stock, share for share, in 1915. Corn is
Dividends on pref. have been paid regularly since organization.
only stock with voting power V.91. p.96,519; V.92. p. 1110: V.95,p.421.
EARNINGS.-For 12 mos. end. Dec. 31 1916, gross. $1,769,699; net, $293,900 additional common stock is held in treasury. $458.200 of the
outstanding Chatt. Gas Co. pref. stock is owned by the United Light &
after taxes. $589,407.
Railways Co.
PROPERTY.-Constituent companies own and operate the gas properBonds.-Int. on first and ref. mtg. bonds is payable at office of trustee
ties in Jackson, Kalamazoo. Manistee, Pontiac, Flint, Saginaw, Bay City or Continental & Commercial Trust & Savings Bank,
Chicago. Mortimer
Birmingham and Royal Oak.
N. Buckner is co-trustee. $3,000,000 bonds (not included in amount
outstanding above) are deposited as security for 6% notes and $30,800 are
SALES.-Year 1916. 1,636,231,400 Cu. ft. Miles of mains, 611.
iv
treasury. Additional bonds may be issued for refunding underlying bonds
OFFICERS.-Pres., B. O. Cobb, N. Y.: V.-Ps., W. H. Barthoid and and
for 75% of par value of preferred stocks of underlying companies reT. A. Kenney; Sec., G. K. Swanson; Treas.. A. B. Simoneau.-v. 102. p. deemed
or rnarchased, 75% of cost of betterments, improvements and addi..
613. 890.
ions, and for 75% of cost of additional property, under certain restrictions.




[VOL. 104.

ELECTRIC RAILWAYS

46

A

LAKE OF
Nepigon

THE WOODS

44

5
Rainy Lake

White River

Port Artur
Fort William".
ISLE. ROYALE

Red Lake

MICHIPlCOTEsI

Tower
IIibbing

Mout

42

S

-eweenaw
-

Pt.

o MariA

Park Rapids

Sault Ste. Marie
12..9x3
/4t*e'
Wadena

rainerd

M Humboldt
Manistique
Spooner

Sauk Center

Monte

St Cloud

I.
Willmar

Turtle Lake
111I'
1
Stillnater
.S :PAUL

miNN.gApSik

Mffiniette
Oconto

Wausau

Eau Claire

teW
f
-1
4

Green
Mankato

Winona
Vaseca

Winnebago City

4

La rosse

reston

Albert Lea

Fo d d
Portag

Decorah

Sheldon
_____j,:rnme sburg
----,--0,

Ray City
Saginaw.

Wa e own

Flint
(A
Oross,

—CLEARA.AKE

MASON CITY

Prairie du

( GRAND RAPIDS

ien

Holland

Rolfe

LANSING
----Pontiac

"Janesville

FORT-00,0_9

Battle Creek'
Homer"

lanutzoo

.-c

MarIhalltownL\

Jefferson

Jackson

CEDAR RAPIDS
,
IOWA Cl/TY
MUSCATINE
,

drian

lies

TOLEDO

South Bend
Goshe

EAST—MOLINt

Fostoria

Va araiso

"

Osceola

Streat
Seymour_
Bushnell

eki
lava

dayett

N

"Irnti n

!dun
don

0
Cl ton
INO ANAPOL

Chillicothe

0A

St.Jose h

P

Macon

,,,pt
)''"
- .
- -S1l

0

0

I anni a

De 'eu

Te TO Hat

Moberly

olumbus

Mexico

Covington

'ICANSASCIT
i
litat

Seslalia.
Now Albany
,Z•vansvIllo

Nevada

Lebanot o

Salem
ebanon

0

MAP
Gre'ensburg

Showing Location and Nature of Properties

Bowling Green
.
outber1".L
Jellico

OF
Hickman

UNITED LIGHT AND RAILWAYS COMPANY
AND

NASHVILLE

ASSOCIATED COMPANIES

Harriman
villa

Humboldt

N—S... igTh
i
Col
lmbli \
uT

KEY TO PROPERTIES

diens
ntalho

\

Gas (only)

X

Electric (only)

---___

.Tuscitztibio.
Decatur

Gas and Electric

•

Gas, Electric and Railways

at't3i7Valley

=Interurban Railways and Terminals
Gas and Railways
(gtreeti and Interurban)




ATTANOOGA
C4-.—...7
-.•_....,
,
.
.—.Fiorencd ittfutsvilio

r

Dalton

Ab
Jaspe

Anniston

West Point
..
‘
E1IRMINGHAM
Greenwood

Bessemer1
l•111•1111.

MAY, 1917.]

Redeemable as a whole or in part on any interest day at 102% and interes,
on 60 days' notice. Bonds have a depreciation fund beginning 1917 of 2%
on all bonds out, but a portion of the earnings for this fund are now being
set aside. See description of bonds in V. 102, p. 1898. Chattanooga Gas
Co. bonds have a sinking fund of $115,000 per annum from 1912 to 1926,
inclusive, on first $500,000 bonds and 2% additional on any further bonds
issued. Subject to call at 105 and int. V. 84, p. 805. $6,000 of bonds
reported outstanding owned by United Light & Railways Co.
The $2,250,000 notes of 1915 are secured by deposit of :53.000,000 1st
& ref. 5s due 1932. Notes due in 1918. red. at par and int.; those due in
1920 at 101 and int., both on 4 weeks' notice. Additional notes may be
issued upon deposit of additional 1st & ref. 5s, but the amount of notes outstanding never to exceed 75% of the par value of bonds deposited as security.
Debentures.-The direct obligation of the co. No mortgage may be created junior to the 1st & ref. M. without equally securing the debs. At no
time shall there be outstanding debs. in excess of 75% of the total of6%
pref. stock outstanding. No further debs. may be issued unless earns.
available for interest charges are 3 times the requirements on the debs.
then outstanding, Incl. those applied for as well as the int. upon any unsecured debt. They are callable, all or part, upon 4 weeks' notice to Nov.1
1921 at 102 and int., and thereafter at 101 and int. Convertible upon 10
days' notice from Nov. 1 1918 to Nov. 1 1923 incl. into 6% pref. stock
at the rate of $1,125 par value for each $1,000 par value deb. The co. will
pay the normal Federal income tax not in excess of 2%. Pa. State tax refunded. V. 103, p.2079.
Maintenance and Depreciation Fund.-The co. must set aside yearly not
loss than 12%% of its gross earnings, any part of which not actually expended in any calendar year for maint., &c., to be used for extensions, additions, &c., against which no additional bonds may be issued.
Dividends of 1%% have been paid quar. on 1st prof. since Oct. 1910 to
% guar. from Oct. 1910
and incl. Apr. 1917. The second pref. received
to July 1915. Was then converted into 1st prof. and corn. stk. As to stock
div. on corn.. see V. 94, p. 1250. Divs. of 1% on corn. were paid guar.
from April 1913 up to and incl. July 1914. None to Oct. 1916. when 1%
was paid. In 1917, Jan., 1%; April, 1%. A stock dividend of 1%, payable In common stock, was paid April 1 1914 in addition to the regular dividend of 1% paid on the same date. V. 98, p. 525.
REPORT.-Report for calendar year 1916 in V. 104, p. 1259, 1292.
Combined Earnings of Subsidiary Companies.
Gross. Exp. & Tax.
Cal. yearNet.
Int., &c. Surplus.
1916
$6,885,779 $4,219,386 $2,666,393 $1,390,513 $1,275,880
1915
6,308,776 3,827,262 2,481,514 1,387,156 1,094,359
Income Account, United Light ec, Railways Co.for Years ending Dec. 31.
1916.
1915.
1915.
1916.
Earns. on stics.$1,257,490 $1,079,565 Bond interest_ $403,724 $360,494
of sub. co4.
Bond discount
Other income_
661,331
and interest
546,627
on notes __
174,916
159,641
Total
$1,918,821 $1,626,192 Preferred divs
595,793
557,420
Exps. & taxes. 146,908
127,316
Total deduct_$1,174,433 $1.077,555
Net earns_ _$1,771,913 $1,498,876
Bal., surp__ $597,480 $421,321
PROPERTY.-Electric light and power is furnished from 8 central stations with a total generating capacity of 70.455 h. p.. and from 3 water power
developments with 7,400 h. p., a total of 77,855 h. p.; 150 miles of high-tension transmission lines, 2,3107 miles of distributing linos, sub-stations, &c.
Gas is supplied from 11 stations with 895 miles (3-inch equiv.) of gas mains;
annual output is in excess of 1,500,000,000 cu. ft. The companies combined have 56,475 gas and 31,903 electric customers. The street and interurban railways have a total mileage of single track of 270.48 miles.
OFFICERS -Pros., Frank T. Hulswit, Chicago; V.-Ps., Richard
Schaddelee, Grand Rapids; J. F. Porter. Davenport. Ia.: C. M. Hurd and
T. J. Weber, both of Grand Rapids; Sec.. L. II. Heinke, Grand Rapids;
Treas., C. M. Hurd. Grand Rapids. General office, Portland, Me.;
executive office, Chicago; operating headquarters, Grand Rapids; operating
headquarters for Iowa district, Davenport. Iowa.-V. 103, p. 321, 759, 939.
1211. 1594, 2079; V. 104, p. 766, 1046, 1259, 1292, 1491.
(1) Grand Rapids Grand Haven Sc Muskegon Ry.-Electric road.
Third-rall system. Entire stock owned by United Light & Rys. Co.
ORGANIZATION.-Incorporated in Michigan on March 6 1899. Owns
and operates an electric road on fenced right of way, connecting the three
cities named in the title, a distance of 39 miles. Franchises in all towns
through which it passes extend to 1929; otherwise private right of way.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity'
Stock,$1,200,000 ($100)..- _
$1,200,000
1st mtge.$1,500,000 ($1,000)1 1901
5 g J-J
1,500.000 July 1 1926
gold
c*tfjInt. at Guaranty Trust
Co., N. Y.,Trustee.
Stock.-Entire stock, except directors' shares, deposited under
United
Light & Rys. Co. 1st and ref. mtge.
Bonds.-The interest on outstanding bonds was guaranteed
by the Security Investment Co. of Pittsburgh. Soo V. 76, P. for 5 years
of outstanding bonds held by United Light & Railways Co. 479. $2,000
ROAD.-Extends from Grand Rapids in
northwesterly direction to
Muskegon. with a branch to Spring Lake and aGrand
Haven. Connects at
Grand Haven with Goodrich Line of steamers for Chicago
and Crosby Line
of steamers for Milwaukee. which arc in operation all the year round. Total
track, 51.48 miles, of which 4.22 m. In Grand Rapids and 3.43 in. In Muskegon are operated under favorable trackage agreement with the Grand
Rapids Ry. and the Muskegon Trac. & Ltg. Co. 70-lb. T rail. Operates
21 passenger, 12 express and 8 work cars. Also does a freight, mail and
American Express business.-V.94. P. 207: V. 100, p. 001. 1672.
(2) The Tr -City Railway & Light Co.In June 1912 control was acquired by the United Light & Rys. Co.
Tri-City Ry.& Lt. corn. stockholders received in exchange
for their
$31 16 2-3 cash, $16 66 2-3 United Rye. 6% 1st pref. and $12 60 2dshares
pref.
3% stock. V. 94. p. 768.
ORGANIZATION.-Incorporated in Connecticut March 3
1906
and
owns all the stock, except directors' shares, of the followinr
companies
Tr -City Railway Co. of Iowa.
Moline-Rock
Island
fg.
Co.
of
Tr -City Ry. Co.
Illinois.
Light Co.
Moline Rock Island & East. Tr. Co. People'sDavonp.
& Muscat. By. Co.
Moline E. Moline & Watert. Ry. Co. Clinton
Muscatine
Lighting Co.
Power
Co.
people's
Watchtower & Campbells Ils. Pk.Co.
Iowa City Light & Power Co.
Controls all gas plants, electric-lighting companies and
street railway
lines in the cities of Davenport, Iowa City. Muscatine, Bettendorf
and
Rockingham, Ia., and Rock Island, Moline, East Moline
and other smaller
towns in Illinois, and an interurban connecting Muscatine, Davenport
and
Clinton. Population served, approximately 177,000. Railway j-ranchises
extend to 1930, 1935 and 1951; electric franchises to 1935 and 1943, and
gas franchises to 1929, 1933 and 1943,
In Jan. 1916 the properties of the Iowa & Illinois Ry. and Iowa & Illinois
Terminal ItY. companies (formerly owned by the United Light & Rys.
Co.)
were acquired and merged with the Davenport & Muscatine Ry., forming
the Clinton Davenport & Muscatine Ry. All of the $1,063,000 1st M.
bonds of the Iowa & Illinois Ry. outstanding have been acquired by the
Tr -City Railway & Light Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
____
Common $9,000,000($100).
$9.000,000 Apr '17. 1%
6 Q_J
Prof$3,000,0006% cum alai)
3,000,000 Apr '17. 1
Coll trust first lien mortgage 190Z3
5 g A-0
7,627,000 April 1 192
$9,000,000 s f______artf Int. at N. Y. Trust Co., N. Y., Trustee.
let & ref mtge $20,000,000 1910
5 g J-J
7,794.000 July 1 1930
c*&r*tf Int. at Central Trust Co. N. Y.,
gold.
Trustee.
Tri-City Railway 1st
1902
5 M-8
54%000 Sept 1 1922
Iowa City Light & Power 1912
5 M-8
400,000 Sept 1 1932
refunding mortgage ($1,- Interest at Continental & Comm'l
Trust &
000.000 ($1,000)
Sav. Bank, Chicago, Trustee.
c*tf
Iowa City Gas
& Electric 1st 1909 6 MN
238,500
See text
mortgage $400,000
tf Int. at Chic. Tr. & Say. Bank, Trustee.
Stock.-Pref. stock is redeemable at 120
accum. dirs. See V. 827.
p. 1213. Listed on Montreal, Toronto and and
Louisville Stock Exchanges.
Bonds.-Of the $9,000,000 coll. trust bonds,
31.000,000 have been retired
by sink. fd. Subj. to call on any Int. date at 105
and int. A sinkingfund
of $50,000 per ann.from Jan. 1 1908 to 1913;$150,000
succeeding 5 years
then $250,000 per ann. to maturity. Coupon bonds for
are In denomination
of $1,000 and registered bonds in $1.000. $5,000
or $10,000 and multiples.
They are listed on N. Y. Stock Exchange. Of the 1st & ref.
bonds, suf-




47

ELECTRIC RAILWAYS

(Went are reserved for prior liens, and remainder for 85% of cost of ad;
ditions and improvements. Subject to call at 105 and int. on any int. date
Sinking fund of 13/2% of bonds out begins Feb. 1 1924. V. 93, p. 1465.
$4.267.000 of outstanding 1st & ref. bonds are owned by.Un. Lt. & Itys.Co.
and $321,000 are held in treasury.
Of the Iowa City Lt. & Pow. Co. bonds, $238,500 are reserved to retire
prior liens and $344,500 for now construction at 85% of' cost. All the outstanding bonds are owned by Tr -City Ry. & Light Co. The Iowa City
Gas & Elec. bonds mature serially $4,000 to $9,000 annually from May 1
1912 to May 1 1927 and $135,000 in 1928. Subj. to call at 105 and int.
on any int. date aft2r May 1 1919. Additional bonds may be issued for
80% of cost of extensions and betterments.
Dividends.-First div. on pref., 13/2 %. paid July 1906, and 13/2% guar.
since to and including Apr. 1917. A dividend of 1% was paid on the common stock Jan. 1 1915 (practically all of this stock is owned by United Light
& Ry. Co. and previous disbursements were not made public), and guar.
since to and incl. Apr. 1917.
ROAD.-Operates over 170 miles ofstandard-gauge track, connecting the
cities of Clinton and Davenport, Iowa, and Rock Island, Moline and East
Moline, Ill.; including an extension to Muscatine placed in operation in
1912 and city lines in Muscatine. 80-lb. girder and 60 to 75-1b. T rail.
OFFICERS.-Pres., J. F. Porter, Davenport; V.-P., Richard Schaddelee, Grand Rapids; V.-Ps., H. R.Tobey, N. Y.. and B. J. Denman, Davenport; Sec., II. E. Weeks; Treas., Frank T. Ilulswit.-V. 93, p. 1465; V.94,
P• 280, 488, 768, 1384, 1444; V. 95, p. 818; V. 96, p. 1158: V. 100. p. 56.
(3) Cedar Rapids Sc Marion City Ry.
ORGANIZATION.-Incorp. May 1891 in Iowa. Franchise. in Cedar
Rapids expires 1941 and indeterminate on interurban.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $1,000.000($100)----- ---- ..
$650,000
First mtge $250,000 ($1.000)f 1891
184.000 July 1 1931
5 J-J
c._ntflInt. at Amer. Tr. Co.. Boston. Trustee.
Bonds.-Of remaining bonds, $25,000 are in treasury and $41,000 are
held in sink. fund. $180,000 of outstanding bonds held by U.L.& Rys. CoROAD.-Owns road in operation. 28.90 miles in length, extending from
Cedar Rapids. Iowa. to Marion; second track, 2.28: siding's. 3.17: total of
all, 28.90 miles. Rails, 45,60 and 80-1b. T
(4) Mason City Sc Clear Lake Railroad Co.-A trolley toad.
In Feb. 1913 the United Light & Itys. Co. acquired control.
ORGANIZATION, ETC.-A trolley road. Operated since July 1897 •
Owns right of way 33 feet wide from Mason City to Clear Lake, 9 miles
Length of line within and between the two cities, 18.6 m. Handles all
freight coming over Minn.& St. Louis, Chic. It. I. & Pac., Chicago & North
West. and Chic. Great West. railways between Mason City and Clear Lake.
Franchises run until Oct. 31 1935.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$400.000
Stock $1,000,000
316,000 June 1 1932
General mortgage $2,500,0001 1912
6 g J-D
et((Int. at First Tr. & Say. Bk., Chic.. Trustee.
gold ($1.000)
Bonds.-Remaining bonds are for extensions and betterments at 75% of
cost, providing annual net earnings are 15% times int. charge (incl. bonds
to be issued). Red. at 105 and int. on any Int. day. Sinking fund of 2%
per annum began Juno 1 1913 to provide for additions and betterments
or for purchase of bonds. V. 94, p. 1764.

GREEN` BAY, WIS.
WISCONSIN SECURITIES CO.-A holding company.
ORGANIZATION.-Incorp. In Wisconsin on Dec 12 1911 and Is purely a financing company (V. 94, p. 632). Controls Wisconsin Pub. derv.
Co. and owns 3300.000 bonds of that company placed in escrow. Also
owns the $1 50,000 outstanding common stock of the Sheboygan Gas Light
Co. V. 100, p. 738. In Dec. 1916 acquired control of the Manitowoc
(Wis.) & Northern Traction Co., operating an electric railway between
Manitowoc and Two Rivers, about 10 miles. V. 104, p. 75.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Stock. $1,000,000
$1,000,000
Sheboygan Gas Light Co.($150.000 out-All owned by Wisc. Socur. Co.)
Common.$250,000
5 g J-J
First mortgage $250,000 gold t 1901
250.000 July 1 1931
c*tflInt. at Union Trust Co.. Detroit. Trustee.
($1,000 & $500)
OFFICERS.-Pres., Clement C. Smith; V.-Ps., Oliver C. Fuller and
Wm. Bigelow; Sec. and Treas.. Howard Greene: Asst. See.-Treas., Henry
L. Rice.-V.94, p. 632; V. 100, p. 1924; V. 104, p. 75.
(1) Wisconsin Public Service Co.
ORGANIZATION.-Incorp. in Wisconsin in Jan. 1912 as reorganization
and merger of the Green Bay Tract. Co. and Northern Hydro-Elec. Co.
Owns and operates entire city and interurban railway system (except about
1.65 m.of track) centering at Green Bay,and furnishes gas,electric light and
power to Green Bay and suburbs. On Jan. 1 1914 the entire property of
the Green Bay Gas & Electric Co. and the Manahan Electric Co. was purchased. For particulars of Green Bay Gas & El. Co.,see V. 82. p. 573,631.
and V. 86. p. 172. Street railway franchise is perpetual and exclusive
until 1918.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
Common.$1.000,000 4100)
31.000.000
Pref, $600,000 6% cum ($100
600.000 No dly. yet
let mtge. & ref. $15,000,000 1912 5 g J-J
2,438,000 Jan. 1 1942
c*tf Int. at Wisconsin Tr. Co., Milwaukee, true.
gold ($1,000)
5 g M-N
Green Bay G & E 1st & ref M 1905
447.000 May 1 1935
$750.000, g ($1,000)----c5fInt. at Wisconsin Tr. Co., Milwaukee, true.
F-A
Green Bay Light & Pow first' 1899
34.000 Feb 1 1919
'First National Bank of Milwaukee. Trustee.
mortgage
Bonds.-Wisc. Pub. Sem bonds are subj. to call on any Int. day at 105
and int. $300,000 of the $2,438,000 bonds issued are held in escrow (all
owned by Wisconsin Securities Co.) to be issued under certain restrictions.
Remaining bonds are for acquisitions and to retire underlying bonds under
certain restrictions. See V. 94, p. 1697. Sinking fund of 2% of bonds
outstanding, commencing in 1917. The Green Bay Gas & Electric bonds
are subject to call at 105 until 1924; thereafter at par; $41.000 have been
paid and canceled. $34,000 Green Bay Gas & Electric bonds are in hands
of a trustee to retire the Green Bay Light & Power bonds.
EARNINGS.-Of combined properties for year ending Dec. 3 1 1916,
gross. $533,734; net, after taxes. $253,828; int. on first security bonds.
$123,687; int. on temporarily second security bonds, $22,396; other int..
$7,163; surplus, $100,582. In 1915. gross, $510,961; net, after taxes,
$246,874; total int.. $153,959; surplus, $92,915.
ROAD,&C.-Owns and operates all lines in the city of Green Bay; also
a line from Green Bay to East De Pere, and branch to Duck Creek and a
line from Green Bay to West De Pere, Little Rapids, Wrightstown and
Kaukauna; total,42.68 miles of track. 70 and 85-1b."T" and girder rail;
26 motor cars; 4 trailers. Gas meters, 3.450; electric meters. 2,575.
17.-Pres., Clement C. Smith; V.-Ps., Henry L. Rico and
69
p.
IC1E
0
94
7
C. R. Phenicie, Green Bay; Sec. & Treas., Howard Greene, Milwaukee.V.
-a

GREENFIELD, MASS.
MASSACHUSETTS CONSOLIDATED RAILWAYS.
ORGANIZATION.-Organized in Boston on Nov. 16 1911 as the Massau
qbusetts Northern Rys. In May 1913 name was changed to the Massau
obusetts Consolidated Railways. Is a voluntary association managed by
a board of seven trustees. V. 93, p. 1462. 1599, 1787. Controls through
stock ownership the following companies:
oncord Maynard & Iludson St. Ry.I Millers River Street Ry. (proposed).
(bnneCtICut Valley Street fly.
I Northern Massachusetts Street fly.
The system comprises 114 miles of road. serving 20 cities and towns in
Central and Northern Massachusetts. Both passenger and express service
are provided. Rights of way have been partly secured on the proposed line
from Orange to Millers Falls.
SharesOutstanding. Las. Div.
Common $1,640.300 ($100)
31.619.900
See text.
Prof $1.100.000 ($100) cum (see text) Q-F
704.600
See text.
STOCK.-Additional pref. shares only to be issued when net earnings for
12 mos. ending not more than 180 days prior to date of issue shall have been
134 times amount necessary to pay div. on shares out and applied for.

ELECTRIC RAILWAYS

48

Divs. on pref. are 5% to Nov.! 1914,incl.; 534% to Nov.! 1917.. Incl..
and 6% thereafter. In case of liquidation pref. Is entitled to $110 per share
np to Nov. 1 1914.$115 to Nov. 1 1917 and 3120 thereafter. V.93, p. 1599.
Dividends.-On pref., 1912 to 1914, 5% per annum. In 1915 and 1916.
53,5%. Feb. 1917 div. passed. On common a div. of 34% was paid
Oct. 15 1913.
INCOME STATEMENT.-For years ending June 30:
1915-16 1914-15
1915-16 1914-15
Divs. received....__ $3,687 $32,774 Pref. divs.(535 %)_$38,753 $36,991
4,622
Misc. Interest
3,529
Deficit for year_343,516 $11.813
87
Gross income___ $7,216 $37,396 Discount on notes_
Expenses
11,979
12,218 Previous deficit..__ 6.856 sur.4,957
Total deficit___ _$50,459
$6,8513
def.$4,763 $25,178
Earnings of Subsidiary Companies for Years ending June 30.
YearNet. Int.&Taxes. Pf.Div. Com.Div. Surplus.
ar03.9.
$529,484 $148,676 $116,508 $16,200 $3,747 $12,221
1915-16
121,187
16,200 33.138 def.6,327
164,198
1914-15
520,844
OFFICE RS.-Sec.& Treas., D.P.Abercrombie Jr.; Greenfield, Mass.
V.96, p. 1489; V. 97, p. 365, 951; V. 100, p. 1168, 1671; V. 104, p. 1702.
(1) Connecticut Valley Street Ry.-Trolley. The Mass. Consol.
Rys. owns 4,996 shares of the common stock.
ORGANIZATION.-Incorporated in 1899. Commenced Jan. 22 1900
Is a consolidation on April 1 1905 of the Northampton & Amherst Street
By.,the Greenfield & Turner's Falls Street Ry.and the Greenfield Deerfield
& Northampton Street Ry.. as per plan In V.80. p. 1111.
In May 1915 the Governor of Mass.signed a bill authorizing the Northern
Mass. St. Ry. to absorb the company by consolidation or purchase.
V. 100. p. 1833.
Interest. Outstanding. Maturity
STOOK AND BONDS- Date.
Q-F
Stock, corn, $500.000 ($100)_$500.000 Dec '16, 19'
M-S
120.000 Mar.'17.39'
Pref,3120.000(6% cum)($100) ---Connecticut Valley St Ry lag 1900 5 g M-S
120.000 Sept. 1 1920
mort gold ($1,000)..e..ntf Int. at Old Colony Trust Co., Boston, Trust.
Northam & Amh 1st mtge. 1900 5 g M-S
180,000 Sept. 1 1920
$180,000 g (31,000)..c..ntf Int. at Old Colony Trust Co., Boston,Trust.
Greenfield Deerfield & North 1903 5 g J-J
150.000 July 1 1923
first mort, $150,000, gold Int. at Mercantile Trust(Jo.. Boston, Trust.
$1.000 and $500)_c*.ntf(No sinking fund and bonds cannot be called
5 g J-D
Green&T urn Fallscons m$130,-I 1903
130,000 June 1 1923
st Co., Boston,Trus.
000 g ($500, $1,000) c*.ntfr
Notes payable June 30 1916--------------------300,000
Bonds.-The Northampton & Amherst bonds are subject to call at 105
on 4 weeks' notice, as are the bonds of the Connecticut Valley Street Ry.
The $120,000 Connecticut Valley bonds were issued under the first mtge. of
the Northamp. & Amh. St. Ry.. which was originally drawn for $300.000.
Dividends.-On pref., 3% semi-ann. since Sept. 1910 to and incl. Mar.
1917. On corn., In 1H6 (year end. Sept. 30). 2%; in 1907. 2%; in 1912
1%;in 1913. 235%;in 1914.3%. 1111915, Feb.. X,%;MaY, X %;Attg.U%
In Dec. 1916, 1%.
EARNINGS.-For years ending June 30:
YearGross.
Net. Int.&Taxes. Pf.Div. Com.Div. Surplus.
1915-16
$235,619 $62,820 $47,972 $7,200 $3,747 $3,901
77,515
51,733
7,200
14,988
3.594
242.633
1914-15
ROAD.-Owns and operates 47.054 miles of track between Miller's trails
Turmer's Falls, Greenfield. Northampton and Amherst. 41 passenger
cars. 2 snow-plows.5 other cars and 131 electric motors.
OFFICERS.-Pros.. C. W. Hazelton; V.-P. & Gen. Mgr., D. P. AberTombie Jr.; Treas., I. A. Crane; Sec., R. M. Stoughton; Sept.. J. A.
craggart.-V. 98, p. 1296; V. 97, p. 298; V. 98, p. 1392; V. 100, p. 1187.
(2) Northern Massachusetts Street Ry.-The Massachusetts ()onset.
Rys. owns all the common stock ($350.000).
ORGANIZATION.-Incorp. in Mass. on July 1 1894 as the Athol &
Orange Street Ry. Name changed to above on May 1 1913. In Jan. 1913
purchased the property and franchises of the Templeton Street Ry. and on
Mar. 1 1913 absorbed the Gardner Westminster & Fitchburg Street By.
As a result of these acquisitions, stock was increased from $74,500, all of
one class. to $500,000. of which $150,000 is 6% cum. pref. stock.
The Governor of Mass. in May 1915 signed a bill authorizing the company to absorb the Connecticut Valley St. By. by consolidation or purchase. V. 100. p. 1533.
Interest. Outstanding. Maturity.
STOCKS AND BONDS- Date.
$350.000 In'14-'15.235
Common $350.000
Pref 69' cum $150,000___
Q-F
150.000 May'17.1 WI
.66I -1-9-1-3 5 g M-N
ist&refM $5,000,000($1,0
315,000 May 1 1943
red'I on 4g% int bas _c*tf Int. at American Trust Co., Boston,Trustee.
5 F-A
Gard Westm & Fitchburg 1st 1900
185,000 Feb 1 1920
mtge ($1,000) gold_ _c*ntf Int. at Old Colony Tr. Co., Boston, Trustee.
Notes payable June 30 1916
250,000
Bonds.-Of the $5,000,000 1st & ref. bonds, $185,000 are reserved to
retire an equivalent amount of underlying bonds. No sinking fund.
Int. &
Pref.
Gross
Net
Corn. Balance,
June 30
Earnings. Earnings. Taxes.
Divs.
Dios.
Deficit.
Year$216,510 $60,768 $52,137 $9,000
$371
1915-16
52.139
59,925
9.000 $8,750
201,494
1914-15
9,964
ROAD.-47.7 miles of track.-V'.97, p. 365. 1357; V.100.p. 1168,1833
(3) Concord Maynard & Hudson Street y.-A trolley road. The
Mass. Consol. Rys. owns 2.319 shares of the stock.
ORGANIZATION.-Organized in Massachusetts Mar.. 27 1901 Acquired Concord & Clinton St. By. Feb. 1 1902. On Aug. 25 1911 acquired
Lowell Acton & Maynard St. Ry. V.93, p. 1788. Franchises perpetual.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
3235,000 See earnings
Stock $235,000 ($100)
230,000 July
1922
1st mortgage $250,000 gold j 1902 5 g J-J
Boston, Trustee.
at
Amer.
Trust
Co.
ctirrntf
(Int.
($1.000)
50,000
Notes payable June 30 1918_
'
ROAD.-Owns 19 miles of track between Concord, Maynard, Acton,
Stow and Hudson. At•Concord connects with Lex. & Boa. and at Hudson
with Worcester Consol. and Boston & Worcester.
Gross.
Net.
Int.&Taxes. Dividends. Surplus.
June 30 Year$8,614
$77,354
$25,090
$16,399
1915-16
17,315
76,517
26,759
$9,400
1914-15
i4) Millers River Street R.
Rights of way have been partly secured on this company's proposed line
between Millers Falls and Orange.
Net

GREENSBORO, N. C.
NORTH CAROLINA PUBLIC SERVICE CO.
ORGANIZATION.-Chartered In North Carolina in 1909. Purchased
the Greensboro Elec. Co., Greensboro Gas Co. and High Point Elec. Pow.
Co. In 1911 acquired majority of the stock of Salisbury & Spencer By. Co.,
which company it also leases for 50 years. V.93, p. 1324. Does entire gas,
electric-light and power and street railway business of Greensboro (and its
suburbs of Proximity, Revolution, White Oak and Pomona), Salisbury,
Spencer, East Spencer and High Point and street railway business of
Concord. In 1910 franchises had the following number of years to run:
Greensboro, 28 years; High Point, 59 years; Salisbury, Spencer, East Spencer and Concord,60 years; also has a 30-year franchise in Guilford County
and township.
Interest. Outstanding. Maturity,
STOOK AND BONDS- Date.
$3,322,900
Stock $3,500,000($100)_
First &ref.m .33,500.000(100,J 1909 5 A-0
2,079,900 Apr 1 1934
$500 and $1,000)c*&r*tfc Int. at Equitable Trust Co., N.Y., trustee.
Greensb El Co 1st M gold 1902 5 g A-0
170,500 April 1 1932
($500 & $1,000)
ctf Int. at E ult. Tr. Co., N. Y.. trustee.
Oreensb El Co fund & Impt 1905 5 g J-D
30,500 June 1930
Int. at Bankers'Tr. Co.. N. Y.. trustee.
Salisb & Spen 13,3; 1st M gold
827,000 May 1 194.5
1905 5 g M-N
$1,000,000 ($1,000)__c*tf Int. at Mich. Trust Co., Grand Rapids,
trustee, or W. N.floler & Co., N. Y.
Mortgage on company's office j
10,000
building
(Guar. p. & 1. by No. Car. Pub. Service Co.
Bonds.-Of the 1st & ref. mtge., $201,000 are reserved to retire like
amount of mortgage bonds of Greensboro Elec. Co. and $1,127,300 are reserved for future impts. and acquisitions under proper limitations. V. 88,
p. 1128; V. 94, p. 699. $10,000 reserved to retire mtge. on company's
building in Greensboro, $81,800 held in tseasury. Subject to call on any
int. date at 105 and int. Sinking fund of 15' per annum of gross income,
July 1915 to 1919; 1357 July 1920-1924, and 25' 1925 to maturity. The
remaining 3173,000 Salisb. & Spencer Ry. bonds are reserved for future
extensions and improvements. Redeemable at 105 and interest.




[Vol,. 104.

EARNINGS.-For fiscal year ending Mar.311017, gross. $580,491; net,
after taxes,$241,382; int., $159,507; surplus, •$81,875. In 1915-16 gross,
$513,391; net, $227,938; int. & taxes, $162,903; surplus, $65,035.
ROAD.-Owns 27.17 miles of track. 60.jand 70-1b. T and 90-1b. girder
rails. Standard gauge. 39 cars. Connecting extensions between the
various cities are proposed. Owns Lindley Park at Greensboro. Electric
plants capacity 2,800 h. p. 166 miles transmission lines. Gas plants
capacity 640,000 Cu,
68 miles of mains.
OFFICERS.-Pres.,
ft.,C. B. Hole; V.-P., E. C. Deal; Sec. & Treas., L. H.
Hole Jr.; Gen. Mgr., R. J. Hole.-V.96, p. 790; V. 97, p. 50.

GULFPORT, MISS.
GULFPORT & MISSISSIPPI COAST TRACTION CO.
ORGANIZATION.-Incorporated in Mississippi In 1905. Purchased
the Biloxi Electric By. & Power Co. and the Gulfport Development Co.
In 1907 increased auth. stock from $1,000,000 to $2,000.000.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
$1,000,000
Stock $2,000,000($100)_
_
1,000,000 Sept 30 1935
1st mort $1,000,000 gold 1905 6 g A-0
tt Int. at Hibernia Bk.& Tr. Co., N.Orl., Trus
($1,000)
2d M gold ($1,000)___ctf 1907 6 g J-J
692,000 July 1 1932
Hibernia Bank & Trust Co.. Trustee.
Bil. El. R SiG P. 1st mtge.,g. 1903 6 J J
149,400 Jan 1 1924
_
Int. at Hibernia Bk.& Tr. Co.. New Orleans
Bands.-The bonds of 1905 are subject to call on Oct. 1 in any year at
105; no sinking fund. Interest on 2d mort. Is payable at First Nat. Bank,
Gulfport. Bonds have no s. f. and are not subject to call. The Biloxi
Electric Railway & Power bonds are subject to call at 106 and Interest.
EARNINGS.-For year ending June 30 1916, gross, $226,905; net. $63.315. In 1914-15, gross, $245,173; net. $110,650.
ROAD.-Operates 13 miles of track from Gulfport to Biloxi and 11 miles
from Gulfport to Pass Christian: also 6 miles of track in Biloxi; total, 30 m.
OFFICERS.-Pres.. J. T. Jones; V.-P., W. T. Stewart; Sec., J. C. Simpson; Treas., P. A. Stilwell; Gen. Mgr., W. P. Gorenflo, all of Gulfport.
-V.83, p. 95.

HAGERSTOWN, MD.
THE HAGERSTOWN & FREDERICK RY. CO.
ORGANIZATION.-Incorp. Apr. 7 1913 in Maryland as a consolidation of the Frederick RR., Frederick Gas & El. Co., Myersville & Catoctin Ry. Hagerstown Ry., Hagerstown & Boonsboro RR., Hagerstown &
Myersville RR., Hagerstown & Northern RR. and Frederick & Hagerstown
Power Co. V.96, p. 947, 1422. In 1914 purchased properties of the Frostburg Ilium. & Mfg. Co. In 1916 acquired control of the Potomac Lt. &
Pow. Co., Martinsburg. W. Va. (V. 104, p. 163.) Franchises are perpetual or extend at least 15 years beyond life of bonds.
On May 7 1917, the shareholders unanimously approved the plan presented by the voting trustees providing (a) for the retirement of the present
outstanding $1,225,000 55" convertible adjustment bonds; $635,000 7%
cum. pref. stock and $2.000,000 corn. stock; (b) issuance in lieu thereof of
$600,000 10-year 6% notes $842,500 6% cum. pref. and $1,483,500 new
corn. stock. The plan in effect, It is stated, will convert a portion of the
old pref. stock into new com. and reduce the holdings of the corn. stockholders to one-third of their former holdings. The voting trust, Frank A.
Furst, Henry Holzapel and William H. McCardell, trustees, will also be
dissolved.-V. 104, p. 1800.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$2,000,000
Common $2,000,000(UM_
635,000
Prof.79' cum ($2,200,000) $50
1st & ref M 310.000.000($1001 1914 6 g A-0
1,224.000 Apr 1 1944
$500 & $1,000) g af-c-cptf Fidelity Tr.0o..Balt.,Tr. Int. pay.In Bait.
5%
Adjustment mortgage
1,225,000 May 1 1954
Hager & Myers Ry 3125.000_ _ 1904
5%
120,000 July 1 1924
"lagers & Boonsb Ry 1st 1%/ 1902 5 F-A
11(1,000 Feb 1 1922
$120,000($500& $1,000)c* Int. at Maryland S.& Tr. Co., Hagerstown.
Hagers & Nor RR 1st mtge 1908 5 g F-A
200,000 Mar 1 1927
$200,000 gold ($1.000,$500i Int. at Maryland S.& Tr. Co.. Hagerstown.
c*( Trustee, Wm.Jennings.
and $100)
35,000 July 1 1929
Meyersv & Catoc 1st M
1904
5%
126.000 Dec 1 1935
Fred & Middletown 1st mtgef 1905 5 J-J •
$250,000 old ($1,000).... _c Fidelity Trust Co., Baltimore, Trustee.
179,000 July 1 1929
Fred Gas & Bloc 1st M $200.- 1904 5 J-J
000 g ($500&31,000) ig.p&I Interest at West End Trust 00., Philadelphia, Trustee.
by Fred RR; not sub to call
Monocacy Valley Ry first 1908
5%
30,000
1925
Steiner Schley & Leonard Waesehe of Fredmortgage
erick. Md.,_ Trustees.
Mfg
Frostburg Ill &
1st M 1899 5 J-J
50,000 July 1 1929
Int. at First Nat. Bank, Frostburg, Md.
30-year bonds
Stock.-The pref. stock is redeemable at par and dividends. Common
stock has been placed in a voting trust. V. 98. p. 1608. 1694.
Bonds.-Of the new $10,000.000 mtge., $850000 are reserved to retire
prior liens and $7.926,000 reserved for addns., impts., &c., under certain
restrictions (V.98, p. 1694; V. 104, p. 163). Reserved bonds when issued to
bear int. at rate or rates not exceeding 6% or less than 4%. Sinking fund
beginning Oct. 11919, payable semi-ann.; till Oct. 11926, 1% of 1st & ref.
6s and prior liens; 1927-1934, 29'; 1935-1944, 3%. Rod. at 105 and int.
on any int. date. Tax refund in Pa. The Hagerstown & Boonesboro Ry.
bds. are red. at par. Hagers. & Nor. RR. bds. are subj. to call aft. 1917.
Fred. & Midd. bonds are red. at 105 on any int. date. Fred. Gas & El.
bonds are guar., p. & I., by Frederick RR.
EARNINGS.-For years ending Dec. 31:
Deductions. Surplus.
Gross.
Net.
Year$141,819
$82,737
$530,505
1916
$224,556
132,581
186,438
53,857
1915
442,958
ROAD.-Operates street railways in cities of Hagerstown and Frederick.
Md., and an interurban railway extending from Frederick to Hagerstown,
with extensions from Frederick to Thurmont. Md.,also from Hagerstown to
Shady Grove,Pa..and with branch lines to Boonsboro and to Jefferson, Md.
Mileage operated aggregates 87.5 miles.
0FFICE RS.-Pres., Emory L. Coblentz, Frederick, Md.; V.-Pres.,
Henry Holzanfel, Hagerstown: Sec.. M. P. Moller, Hagerstown; Treas..
Thomas H. Haller, Frederick; Gen. Mgr., M. A. Pooler.-V. 98, p. 1608.
1694; V. 101,p. 614; V. 102.p. 1346, 1811; V. 104,p. 163, 1863.

HAMPTON, VA.
NEWPORT NEWS & HAMPTON RV.. GAS & ELECTRIC CO.
Allen & Peck. Inc.. of Syracuse, acquired control of the common stock
In June 1918 at $30 per share. About 10,500 shares of the common stock
have been placed in a voting trust for 5 Years (to 1921). Voting trustees
are: Moreau Delano, New York; B. Howell Griswold Jr., Baltimore, and
0. Loomis Allen, Syracuse.
ORGANIZATION.-This company was organized In 1914 as the consolidation of the Newp. News & Old Pt. Ry.& Elec. Co., Citizens Ry. Light
& Power Co.. Hampton Roads Traction Co., Newport News Gas Co. and
the Hampton Phoebus & Fort Monroe Gas Corporation and provides railway,gas and electric light and power facilities for the Virginia Peninsula.
Franchises.-Por electric light and power, perpetual; for street railways,
practically none expires before 1944. Gas franchises in Newport News are
perpetual, subject to right of purchase of property by city (for 6 months in
1927); in Hampton, gas franchise expires in 1936. Interurban lines largely
on private right of way.
The Hampton & Langley Field By. was Incorp. In Virginia in Feb. 1917
with $25,000 capital, to build a line 3.1 miles long between the points named.
The line will be built and operated under traffic agreement by the Newport
News & Hemp. By., Gas & Elec. Co.
Interest. Outstanding. MaturitySTOCK AND BONDS- Date.
$1.125,000 May '17 5%
Common $1,125,000
1,000,000
See text
Preferred $1,250,000 6% cum_
3.734,000 Jan 1 1944
lat & ref M ;7,500.000 g($1001 1914 5 _g J-J
c*.tfjMaryland Trust Co. of Baltimore, Trustee.
11500 & $1,000)
Newport News & Old Pt. Ry. & El.900,000 Nov 1 1938
First mortgage $900,000 goll 1898 5 g M-N
c* tf Interest at Alex. Brown & Sons, Balt., Md.
($1,000 each)
General mtge $4,000,000 gold 1901
5 g M-S
44,000 Mar 1 1941
c* Int. at Alex. Brown & Sons, Baltimore, Md.,
($1.000 each)
or at company s agency in New York.
69,00(1 May 1 1940
First mtge Citizens' By L& P 1900 5 g M-N
$800,000 ($1,000) gold.. c*
Maryland Trust Co., Baltimore, Trustee.
Guaranteed prin & int. _ Interest at Alex. Brown & Sons, Balthnore.
Hampton Roads Trac let M... 1905 43i J-J
68,000 Jan 1 1930

MAY, 1917.]

ELECTRIC RAILWAYS

Bonds.-Of the first and ref. bonds.51.081.000 are reserved for prior liens
as above,$3,000 are in treasury and the remaining $2,682,000 are for impts.
& exts. Bonds subj to call at 105 & int. on any int. day upon one month's
notice. Int, payable at Alexander Brown & Sons Baltimore, or company's
agency in N. Y. The Maryland 'Fr. Co., Balt., is trustee of both the first
and general mortgages of the Newport News & Old Point Railway &
Electric. The Newport News & Old Point bonds of 1898 are subject to
call at 110 on any interest day at 60 days notice. The Citizens' Railway
Light & Power Co.bonds are subject to call at 110 on any Interest day on
60 days' notice. Remaining Newport News & Old Point Ry. & El. gen.
M. 5s, Citizens' Ry. L. & P. 1st M. 5s and Hampton Roads Trac. 1st M.
43s are deposited under the Newport News & Hampton thy.. Gas & Elec.
1st & ref. M.
Diridends.-6% is being paid on pref. stock. A div. of 3% on the
common stock was paid July 1 1916; in 1917, May.5%•
EARNINGS.-For year ending Dec. 31:
Gross
Calendar
Balance.
Interest.
Net(after
Other
YearEarnings.
Income. Rents. &c. Surplus.
Taxes).
$1,013,712
1916
$234,491
$188,432
$419,650
$3,273
916.172
1915
235,911
129,963
362,785
3,089
ROAD, &O.-Owns and operates 48.59 miles of track. Power plant.
with 5,800 k.w. capacity' 2 gas plants; electric lighting system.
OFFICERS.-Pres., J. N. Shannahan; Vice-Pros. & Can. Mgr., E. F.
Peck; Treas., Wm. Stewart; Sec., Richard M. Booker, all of Hampton.V. 98.p. 236, 767, 1460; V. 102, p. 154, 1436, 2167.
"11111111P-

HANOVER, PA.
HANOVER & McSHERR YSTOWN STREET RAILWAY CO.
In Nov. 1916 control was acouired by the Keystone Utilities Co., which
see under Scranton, Pa. Operated by United Service Co.
ORGANIZATION.-Ineorp. in Penna. in 1892. Its charter runs for
999 years. Owns all the ($100,000) stock of the Hanover Light Heat &
Power Co.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Stock $200.000 ($50)
$135.000 Jan.'15. 3%
5 g J-D
First mtg $500,000 g (41,000)1 1908
400.000 June 1 1928
subject to call at 105- _c*tflInterest at York Trust Co. York, Pa., Trus.
Bonds.-Of remaining bonds $100,000 are reserved for'
extensions, &c.
Dividends.-In July 1894. 25-5%; in 1895,
21-5; 1897-1902 records
lost. 1903 and 1904 none. In 1905, Jan., 6%.
Jan.'In 1906 and 1907. none;
Jan. 1908 to Jan. 1913. incl.. 6% per annum. In July 1913 50% stock
div. paid; Jan. 1914 (reg.), 4%; July. 2%. In 1915, Jan.,3%. None sinee.
EARNINOS.-Of the Han. & McS. St. By. for year end. Dec. 311916.
gross, $46,242; not (after taxes), $20,293; bond int., &c., $20,603 def.
$310. In 1915, gross, $10,732;net, after taxes, $12,038; other income,
$8,841; bond, &c., int., $20,698; accident reserve, $880; loss, $699.
ROAD.-Owns 12.22 miles of track in and between Hanover, Maherrystown, Littlestown and Conewago Chapel. Standard gauge. 60-1b. T and
girder rails.
OFFICERS.-Pres., J. E. Weissonfluh; V. P., W. C. Sharp; Sec. &
Treas., F. B. Atherton.-V. 100, p. 1257; V. 103, p. 2340.

HARRISBURG, PA.
HARRISBURG RAILWAYS.
ORGANIZATION.-Incorp. in Penn. on Nov. 29 1912 and merged
the Central l'ennsylvania Traction Co. (see "Electric Railway" Section of
Sept. 1912) and its subsidiaries. V. 96. p. 202.
Strike.-On July 16 1916 the company's men went out on strike and
operations were hampered for about four weeks, but early lu Sept. 1916,
Pros. Musser reported that service and receipts were back to normal.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common $3,000.000..
$3,000,000
Preferred cum $2,100,000___ ____
See text
2,100,000 Apr'17. 1
First & ref. mtge 310.000.000- 1912 5 J-D
3.169,900
1942
liarrisburg Trust Co.. Trustee.
($1,000 and $500)
Citizens' Passenger first mtge I 1894
6 g, M-N
75,000 May 1 1924
Iut. at Corn
$75.000 gold
Guar. Tr. Co.. Harrisburg.
STOCK.-Pref.stock is cum. at 5% until 1915 and 6% thereafter.
Dividends.-3U % was paid on nref. stock in 1913. In 1914, 5%. In
1915, April. 2;,6%;Oct., 1%. In 1916, April, 154%. In 1917, April, 1Y,%.
REPORT.-For fiscal years ending Juno 30 and cal year 1916:
Total
Year
Net
Rentals,Tax.,Int.. Bal.,Sur.
Earnings.
EndingEarnings. Divs.&Bett'mts. or Deficit.
$1,033,802
Dec. 311910
$569,264
$521,491
1.021,907
June 30 1916
610,639
531,751
sur.$7
48
7:8
78
7:.1
June 30 1915
973.622
518,615
def.33.630
ROAD.-Owns and operates 73.51 miles of line. 582,245
OFFICERS.-Pres. & Gen. Mgr.F. B. Musser,
Harrisburg; V.-P..
B. F. Myers;
John0 Connell. 'Office.
-V. 95. p. 1745;
V. 98, p. 155; V. 101, p. 1013,Harrisburg.
V. 96, p. 209; See.,
1272; V. 101, p. 1591.
VALLEY RAILWAYS.
ORGANIZATION.-Incorporated in
Pennsylvania in July 1912 and in
Sept. 1912, after increasing its stock from $10,000 to $2.500,000
(of which
$500,000 is 6% cum. prof.), purchased control of the
Valley Traction Co..
controlled
the
turn
which in
Harrisburg & Mechanicsburg Elec.
Ely.,
11111 & Mechanicsburg Pass. By., Carlisle & Mechanicsburg St. Ky.,White
West
Fairview & Marysville Elec. St. Rys., Harrisburg & Riverton
St. By..
Fairview & Riverton Ry. and the United Electric Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
_
Common $2,000,000 ($100)-$2,000,000
Pref cum $500,000 ($100)- 6%
9 _
500,000
5 o
Collateral trust $1.700.000..tf 1912
1,000.000 Aug 3 1952
A-0
$700,0001
5
g
1903
Valley Trac 1st NI
700.000 Oct 1 1933
gold ($100 & $500) _ _c*ntf hint. at Farmers' Tr, Co., Carlisle, Pa., Trus.
Bonds.-Romaining coll, trust bonds ($700,000) are reserved to
retire
Traction
bonds are subject to call at
prior liens. Valley
110. A sinking
fund of $5,000 per annum commenced Oct. 1 1908.
EARNINGS.-For year end. Dec. 31 1916, gross, $303,460; net, $148,389. In 1915, gross, $279,108; net, $132,052.
ROAD.-Operates 44 miles of road from Harrisburg to Marysville and
to Carlisle.
OFFICERS.-Pres. & Gen. Mgr.. 0. II. Bishop, Lemoyne, Pa.; 8ec. &
Treas.. C. M. Davidson. General offices, Lemoyne.- V. 96. p. 64

HAVERHILL, MASS,

NEW HAMPSHIRE ELECTRIC RYS.
ORGANIZATION,-A voluntary association succeeding the New HampTraction Co. on Aug.24 190. Owns all the stock of the following
shire
COMpantos, En New Hampshire, Dov..
Somersworth & Rochester St. ItY•
Co.; Rockingham County Light & Power Co. (V. 103, p. 499); Granite
State Land Co.; in Maine, Kittery Electric Lt. Co.; in Mass., Mass. Northeastern St. By. Co. Also owns all the bonds of the Dover,Somersworth &
Rochester St. By. (except $74,000),.of the Amesbury & Hampton St. By.
(except $47,000) and of the Citizens Elec. St. By. (except 32.10,000).
Date.
STOOKInterest. Outstanding. Last Div.
Common $4.000.000($100).------$3,900,200
Prof4% n-c. $4.000.000($100)
J-J
3,399,500 Jan '17, 2%
DI VIDEN DS.-Company paid 1% each 6 mos. on pref. from July 1908
to and incl. Jan. 1910.; July 1910 to Jan. 1912, 146% s.-a.; July 1912 to
July 1915, 2% 5.-a. In Jan. 1916. none; July 1916, 2%. In Jan. '17, 2%.
OFFICERS.-Pres.. D. A. Belden, Haverhill; V.-P., M. N. Buckner,
New York; Soc. and Treas., F. J. Horne, New York.-V. 103. p. 493.
(1) Massachusetts Northeastern Street Ry.
All the stock of this company is owned by the Now Hampshire Elec. Rys.
ORGANIZATION.-A Mass. corporation. Owns and operates a local
and Interurban railway in Northeastern NIa.ss. and Southeastern
N. II.
Maintains a through service between Haverhill. Lawrence. Lowell, Nashua.
Amesbury and Nowburyport. Power Is purchased from the Rockingham
County Lt. & l'ow. Co. under a contract extending beyond
July 1 1934.
On Oct. 1 1915 asked the P. S. Comm. for permission
to increase single
cash fares from 5 to 6 cts. and the price on ticket
books by 20%.
STOOK AND BONDS- Date.
Interest, Outstanding. Maturity.
Common stock ($100)$1,500,000
Prof 6% cum ($100)
6%
665,000
First and ref M $2,000.000{ 1914
5 g J-J
807,000 July 1 1934
($1.000) gold
c* Int. at Amer. Tr. Co., Boston, Trustee.
Citizens' Elec St By 1st M 1900
5 g J-D
230,000 Dec 11920.
$230,000 gold
Beacon Trust Co., Boston, Trustee.
Amesbury & Hampton 1st M 1899
5 g A-0
63.000 Oct 11019
gold $100,000 ($1,000)
Int. at Beacon 'Fr. Co., Boston, Trustee.




19

Bonds.-The 1st & ref. 5s of 1914 are red. at 110 and int. on any Int.
on 43 days' notice. Of the remainder of these bonds auth.. $293,000date
are
reserved for prior liens and $900,000 reserved for cost of additions and
Impts. under certain restrictions (V. 100. p. 55).
EARNINGS.-For year ending Dec. 311916, gross, $781,120; net, after
taxes, $153,976. In 1915, gross, $706,635; net, after taxes, $105,980.
ROAD.&c.-Owns and operates about 126 miles of single track (80 miles
En Mass. and 46 in New Hampshire), extending east and west from Haverhill, Mass., entering on the east Newburyport, Merrimac,
and
Amesbury, Mass., and Plaistow and Newton, N. H., andSalisbury
on the west
Lawrence. Methuen and Dracut. Mass.. and Salem, Pelham
and
Hudson.
N. II. Enters Lowell and Nashua under trackage rights. Owns
and operates local lines in Newburyport and Amesbury.
with the Bay
State St. By., Manchester & Nashua St. Ky. andConnects
the Exeter. Hampton
& Amesbury St. Ry. Also owns a large amusement park
on Canobie Lake
in Salem, N. H. 80 open and 49 closed cars and 25 work
cars and snow
plows.
IOFIRS.-Pres. D. A. Belden; Treas.. P. E. Webster; Gen.
Mgr.,
Franklin Woodman,-'V 100, p. 53; V. 103, p.
2078, 2238.
(2) Dover Somersworth & Rochester St.
Ry.
All the stock and $226.000 bonds owned by New Hampshire
Elec. Rys.
ORGANIZATION.-Chartered under the laws of New Hampshire.
Is
a consolidation of the Union Elec. By. and the
Rochester St. By.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $375,000 ($100)
3375.000
First mtge g $300,000 ($1,-1 1901
5g
see text July 1 1921
000)•, bds cannot be calledlInt. at Amer. Tr. Co..
Trustee.
lionds.-All the bonds except $74,000 are owned by Boston,
New Hampshire
Elec. Rys. Co. Sink, fund of $5.000 per ann. began in 1901.
EARNINGS.-For cal. year 1916, gross, $116,161; net,
$22,748. In 1915, gross, $108,015; net, after taxes, $21,025. after taxes,
ROAD.-Owns and operates about 21 miles of line.
OFFICERS.-Same as for Massachusetts Northeastern St. Ry.

HAZLETON, PA.
WILKES-BARRE & HAZLETON RR.
ORGANIZATION.-Incorporated in New Jersey May 1901 and
the entire ($1.500.000) capital stock and (41.500.000) bonds of theaeou:red
WilkesBarre & Hazleton Railway Co.(Pennsylvania incorporation) and deposited
the same, together with $140,000 (entire issue) of the Lehigh Traction
Co.'s
5% certificates of indebtedness and $922,200 of the $1,000,000 stock
of
the Lehigh Traction Co. as security for the Wilkes-Barre & Hazleton Railroad Co. issue of first collateral trust mortgzge 5% gold bonds. V.
72.
p. 1281. Franchises are 999 years in and around Hazleton and perpetual
from Ilazleton to Wilkes-Barre.
Interest on Bonds.-The May 15 1914 interest on the collateral
mtge.
of 1901 due May 15 1951 was not paid when duo. In lieu of trust
paying the
interest bondholders were requested to surrender their coupons, duo
May 15
1914 to Nov. 15 1916, and in return the company issued non-interest-bearing
certificates for the coupons as they become due. See V. 98, p 1539. The
default was the result of a strike of the employees of the Lehigh
'Fraction
Co., a subsidiary. See Lehigh Traction Co. below. The interest
due
May 15 1914 was paid Juno 15 1916. and that due Oct. 1 1914 was paid
Aug. 15 1916. The Nov. 15 1914 interest was paid Nov. 20 1916.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common 42,500.000 4100)
42.500.000
Prof 6% non-cum $700.000185.600
Collateral trust mortgage 32.- 1901 5g M-N 15 1,900.000 May151951
500.000 gold ($1.000)__c* Int. at Guarantee Trust
l,2n.0
Co.,Oct.
N.Y.,Tru
1 ls9
t4
ee
5
Collateral trust mortgage $1.- 1905 5 g A-0
500,000 gold ($1.000) _ _c Int. at Guarantee Trust Co.. N. Y .. Trustee,
Binds and Stock.-Of the authorized issue of$2,500.000 coll. trust bonds of
1901,4600.000 are reserved to retire all bonds of the Lehigh Traction Co. A.
sinking fund of 320.000 per annum, which began June 1 1908. is to be invested in the collateral trust bonds or in bonds purchasable by savings
banks in New York State. See V. 72. p. 1281; V. 78. p. 289. The collateral
trust bonds of 1905 have a sinking fund of $10.000 per annum, which began
in 1910. Bonds can be called at 110. Preferred stock can, at option of
company be changed at any time into the bonds of the company, at par,
said bonds to bear not less than 5%, or may be red. at par in cash.
EARNINGS.-For cal. year 1916 (incl. allied companies), gross. $487,359; net, $219.968; int., taxes and renewals, $222.640; deficit, $2,672. In
1915, gross, $466,675; net, $224,310; int., taxes and renewals, $226,411;
deficit, $2,101.
OFFICERS.-Pres., A. Markle; V.-P. & Gen. Mgr., C. B. Houck;
Sec., N. C. Yost; Asst. Sec., A. Markle Jr.; Treas., Wm. H. Remick.V. 83, p. 1292; V. 87. p. 679; V. 98, p. 1539.
(1) Lehigh Traction Co.-A trolley road.
ORGANIZATION.-Chartered Nov. 7 1892. Franchise perpetual.
Owns, controls and leases for 999 years at an annual rental of Si each the
Hazleton & Suburban Electric Ry., capital $30.000; Hazleton & South
Side Electric Ry., capital $7.5,000; Hazleton & North Side Electric Ry.,
capital $75.000. The $140.000 certificates of indebtedness and $922.200
of Lehigh Traction stock are deposited as security for the Wilkes-Barre &
Hazleton RR. bonds of 1001.
Interest on Bonds.-On December 31 1913 a strike was begun which
resulted in the default of the payment of the interest due June 1 1914 on
the 1st NI. 5s of this co. (int. on 1st M. bonds of the Wilkes-Barre & Hazleton RR. was also defaulted. V.98,p. 1539). Bondholders were requested
to surrender their coupons falling due June 1 1914 and the five succeeding
interest periods, and to accept in lieu thereof non-int.-bearing scrip, payable
before any dividends are paid and callable at par. A protective committee
was formed and asked deposits of the bonds at Northern Trust Co., Phila
V. 98, p. 1694. Juno and Dec. 1915 coupons on the $.500.000 1st M. 5s
were paid; also the April and Oct. 1915 int, on the Hazleton Park 5s.
1916 eonpons have also been paid.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $1,000.000 ($100)-- -- --„ '
$1.000,000
First mortgage $.500.000 goldt 1893
5 g J-D
500.000 June 1 1923
($100. $500. 31.000)____c*JMarkle Bkg. & Tr. Co., Hazleton, Trustee.
Certificates of indebtedness_
140.000
Mule Park bonds. $60.000.._- 1895
5 g A-0
60.000
1925
Equip trust at's. Series A__ _ 1915
F-A
.54.000
The equipment trust certificates cover 10 steel cars and mature1925
$3,000
semi-ann. Penna. Co. for Ins. on Lives & Granting Annuities, Phila.,
Pa.,
is trustee.
ROAD.-Operates 22 miles of track. new 90-lb. steel Trails, oak ties, well
ballasted. Road extends from Hazleton to West Hazleton,.to Yorktown
(connecting with Pennsylvania RR. and Lehigh Valley RR.). to McAdoo
(south) and Milnesville. Latimer Mines and Freeland (north).
OFFICERS
A. Markle; V.-P., 0. B. Houck; Sec. and Treas..
.-Pres..
Mgr.. C. B. Houck.-V.99, p. 984. 1598, 1673.
N. C. Yost; Gen.
(2) Wilkes-Barre & Hazleton Ry.-A trolley,steam and third-rail road .
ORGANIZATION.-Chartered Dec. 13 1899 under General Railroad
Law Act of April 4 1868, State of Pennsylvania. The Wilkes-Barre &
Hazleton RR. owns the entire stock and bonds.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $1,500,000 full paid _ _ _
31.500.000
First mortgage $1,500,0001 1901
5 g M-N
1,500
72:0
00
00
0 May 1192
15
9.51
Inters(
gold
at Guaranty Trust Co., N. y.,Trus..
Equip trust etfs, Series A_ _ __ 1915
F-A
Tho equipment trust certificates cover 10 new steel cars and mature
$4,000 semi-ann. Penna. Co. for Ins. on Lives & Granting Annuities,
Phila., Pa., is trustee.
ROAD.-Owns 27 miles of road from Hazleton to Wilkes-Barre, and uses
for terminals 1 mile Lehigh Traction Co. track at Hazleton and 3 miles
Wilkes-Barre Terminal RR. Co. track at Wilkes-Barre; total,* 30 miles.
Entire road placed in operation May 1 1903. Rails, 95 lbs.
OFFICE RS.-Pres..Alvan Markle; V.-P.and Gen. Mgr..C.B.Houck:
Sec. and Tress.. N. C. Yost.
(a) Wilkes-Barre Terminal RR.
Entire stock and bonds owned by W. B. & Hazleton RR.
ORGAN`IZATION.-Incorporated on Oct. 9 1903. Stock authorized
and outstanding. 435.000 (par $50). Bonds authorized, $600,000 (c&r);
Date 1905; due Oct. 11945. Int.(5 g. A-0) payable in New York.
ROAD.-3 miles, between W. B. Ter. RR. June. and Wilkes-Barre.
Rails, 9.5-1b. T: gauge. 4 ft. 8M in. Pres.. C. J. Kirschner; See.-Treas.,
N. C. Yost.

ELECTRIC RAILWAYS

50
HELENA, MONT.

THE HELENA LIGHT & RAILWAY CO.-Trolley, electric light and
power, gas light and fuel.
ORGANIZATION.-Incorporated in Connecticut in Sept. 1905 as successor to the Helena Light & Traction Co. V. 81. p. 1043. Controls the
Helena Gas Light & Coke Co.; comprises the city's entire street railways
and gas and electric-light plants. Franchises expire April 4 1926.
Decision.-The Montana Sup. Court in Feb. 1913 held that city could
not enforce an ordinance which required the company to light its tracks
within the city limits without expense to the city-see V. 96. p. 1422.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
See text.
$561,000
Q-F
Common $900,000
374,000 Nov.'16,1
5 IQ-F
-Preferred $600,000 5%
Sept
1 1925
1,043,000
M-S
g
5
1905
cum-First mortgage $2,500.000}
c* Int. at Columbia Tr.Co.. N.Y.,Trustee.
gold ($1,000)
Bonds.-The let M.bonds are subj.to call at 105 and int.; $1,295,000 are
reserved for extens. and impts., at 85% of cost, and $2,000 in addition to
amount reported outstanding are in treasury. A sinking fund of 13i% per
%
ann. of bonds out commenced June 1 1908. which will be increased to
per annum June 1 1918; said fund to be used in retirement of bonds at not
higher than 105 and int. See V.81. p.1550. 2160,000 have been retired.
Dividends.-Five per cent per annum in quarterly installments is being
paid on pref. stock. First dividend on common, 1% paid Oct. 31 1906.
'and 1912. 5%. In
In 1907,3%. In 1909,3%. In 1910,4%. In 1911
1913,5%. None since.
and Balance,
Interest
(after
Gross
Net
EARNINGS.Taxes). Sink. Fund. Surplus.
Earnings.
Cal. year$41,114
$70,225
$111,339
$329,195
1916
30.908
70,069
100.977
321.198
1915
of
track.
miles
23.55
-Operates
ROAD.
OFFICERS.-Pres.,P. G.Gossler; V.-Ps., J. H.Pardee and A.Coppell;
Sec.,
Sec. & Asst. Treas., T. W. Moffat; Treas., R. B. Marchant;A.Asst.
Trans., B. Sibley,
H.B.Brown (all of New York),and Asst. Sec. & Asst.
Helena. Operated under the general management of J. G. White Mgt.
Corp.. New York City.-V. 88, P. 1061; V. 91, p. 1095; V. 96, p. 1422.

HOLYOKE, MASS.
HOLYOKE STREET RAILWAY.-Trolley.
ORGANIZATION.-Incorp. in Mass. June 11 1884. Leases the Mt.
Tom (incline) RR.until June 1 1922 at6% per annum on the $100,000 stock,
In 1907 purchased the Hampshire Street Ry. (previously leased). V. 85.
p.40. In Aug. 1907 purchased the Amherst & Sunderland Street Ry.(V.85.
p. 294), giving a through connection from Holyoke to Amherst and Sunderland.
Strike.-A strike for a 9-in-11-hour day with the same wages as paid for
was called
10 in 12 hours, which tied up the company's lines for 83i days,
off Aug. 15 1915 when an agreement was reached to submit the dispute to
arbitration (V. 101, p. 614). On Aug. 27 the men struck again but went
back to work Sept. 10 1915. V. 101, p. 923. In Nov. 1916 the board of
arbitration awarded the men a sliding scale rate per hour of platform work,
effective June 1 1916, ranging from 27 cts. per hour for the first 6 months to
,
33 cts. per hour for fourth year men and over.
Interest. Outstanding. Maturity. Ac•
Date.
STOCK$1,342,000 Jan.'17. 307
J-J
Stock ($100)
850.000 April 1 1935
First mortgage. $2.500.000,1 1915 5 A-0
c*fInt. at Springf. Safe Dep. & Tr. Co., Trustee
gold ($1.000)
85,000 Oct. 1 1920
Deb bds ($500, $1,000)c*_ntf 1899 5 A-0
265,000 April 1 1923
ntf 1903 5 A-0
Debenture bonds
RR
Tom
Mt
rental
Leased line
100,000
6
stock 6%
Bonds.-$350,000 1st M.bonds are reserved to retire the debenture bonds.
remainder issuable for additions and impts. under certain restrictions. Red.
982.
at 107 and int. on and after April I 1920. V. 100, p. National
Bank.
Interest on debenture bonds payable at Holyoke
Dividends.-From 1892 to 1915, incl., 8% yearly. In 1916, 6%. In
Jan. 1917. 3%•
RR
ROAD.-Has 69.975 miles of track, including Mt. Tom (incline)
By. to Westfield,
4,900 feet long, and connecting with the Woronoco Street
Northampand
with
Mass.,
to
Springfield.
By.
St.
Springfield
with
Mass.;
Chicopee Falls.
ton St. By.to Northampton, Mass.,and direct to Chicopee,
South Hadley, Amherst and Sunderland. Passenger cars, 120; other serelectric
269.
7;
other
motors.
vehicles.
10:
snow-plows.
vice cars, 27;
EARNINGS.-For year end. June 30:
1915.
1916.
1915.
1916.
Gross earnings_ _ _$623,755 $708,586 Balance for divs__ $87,106 $96.233
(8)107360
(6)80,520
Dividends
193,340
194,626
Net
Int., taxes, &c_ _ _ 107,520 97,107 Balance for year_sur$6.586d1'$11,127
OFFICERS.-Pres., Louis D. Pell sier; Sec. & Treas., S. D. Nevin, all
of Holyoke.-V 100. p. 733, 982; V. 101, p. 614, 923; V. 102. p. 153.

HOUGHTON, MICH.
HOUGHTON COUNTY TRACTION CO.-Trolley road.
County
ORGANIZATION .-Organized in 1908 and took over Houghton an
elecin 1899. Does
Street Ry., which latter company was incorporated
connectMich.,
counties,
and
Kewenaw
Houghton
tric railway business in
Red Jacket,
ing the cities and towns of Houghton, Hancock, Laurium
Quincy, Osceola,
Lake Linden and Hubbell, and the mining locations of on
public streets
Wolverine, Allouez, Ahmeek and Mohawk. Franchises
of way.
expire in 1929, 1930, 1932, 1933 and 1938. Largely on private right
Co.
Service
Investment
Public
by
owned
stock
$100,000 common
Maturity.
Outstanding.
Interest.
Date.
BONDSAND
STOCK
See text.
$750,000
A-0
Common $750.000 ($100)____ ____
207,200 Apr '17, 370
A-0
Pref6% cum $500,000 ($100).
1 1937
Jan
739.000
J-J
g
5
8
1
$1,600,000190
1st consol mtge
Trust.
($500 and $1,000) gold__ tf Int. at Old Colony Trust Co., Boston,
281,000 July 1 1920
Hough Co St Ry mtge $750,- 1900 5 g J-J
Trustee.
Co..
Tr.
&
Safe
Dep.
Boston
at
Int.
000 gold ($1,000)__ . __c*tf
Stock and Bonds.-Pref. stock is redeemable at 11.0. $283.000 consol.
for fumtge. bonds reserved for prior liens; $28,500 are in treas.; $417,000
they are subture additions at 80% of cost; 266,000 owned by company; int.
Sinking
ject to call as a whole or in part for sinking fund at 105 and
have been canceled. The
fund 1%% of outstanding bonds, $66,500called
as whole or in part at
Houghton County Street Ry. bonds can be
105 and int. V. 87, P. 614. $469,000 have been canceled.
Dividends.-On pref., 3%,s.-a.from Oct. 1908 to Apr. 1917, incl. On
common, 2% Oct. 1909. In 1910, April, 23,6% and same amount 8.-a.
to and including April 1914. None since.
EARNINGS.-For 12 months ending Dec. 31:
Sk.Fd. Spec.Res. Surplus.
Gross. Net(aft.Tax.) lilt.
Year$326,398 $139,939 $52,800 $11,115 $14,638 $61,386
1916
52,607
11,285
55,232
119,124
276,661
1915
ROAD.-Miles of single track equivalent, 32.2; 34 cars and 7 plows.
Standard gauge. Power station capacity, 1,000 k. w. Also purchases
power from Houghton County Electric Light Co.
OFFICERS.-Pres., Frederick P. Royce, Boston; V.-Ps., F.J. Bawden,
Todd, Boston:
Houghton, and T. N. Perkins, Boston; See., Alvah K.
Treas., Henry B. Sawyer, Boston; Gen. Mgrs., Stone & Webster Mgt.
Assn., Boston.-V.99, p. 816; V. 102, p. 1436; V. 104, p. 1701.

INDIANAPOLIS, IND.
TERRE HAUTE INDIANAPOLIS & EASTERN TRACTION.
ORGANIZATION.-Incorporated in Indiana on March 23 1907 and
acquired by purchase (1) Indianapolis & Eastern By.; (2) Indianapolis
Coal Traction; (3) Indianapolis & Western Traction, and (4) Richmond
Street & Interurban Ry.
On March 25 1907 leased the Terre Haute Traction & Light Co. for 999
years (see terms under that company below), and in April 1907 leased for
999 years the Indianapolis & Northwestern Traction and the Indianapolis &
Martinsville Rapid Transit (see terms under respective companies).
In April 1910 purchased 46,717 of the 50,000 shares of the stock of the
Indianapolis Trac. & Term. Co., giving its own common and pref. stock
in exchange (V. 90, p. 1103. 1240); and since that time has acquired the
remainder of this stock except directors'shares. Owns a one-fourth interest
in the United Tractions Coal Co., insuring the company an adequate coal
supply. See Shirley Realty Co. of Indiana in V. 104, p. 1805.




•

(Vol- 104.

On May 1 1912 leased for 999 years the Indianapolis Crawfordsville &
Danville Elec. Ry.(see terms under latter company below). V.94. p. 1567.
Franchises.-In a letter to bankers in May 1910, President of the company said: "The great majority of the franchises under which the system is
operated extend well beyond the life of these bonds List & ref. mtge.]. The
ranchises in the city of Indianapolis expire in 1933."
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Common $12,500,000($100)$9,100,000
9,100,000 See text
Q-J
Preferred $12.500,000 ($100)6,500,000 April 1 1945
1st & ref mortgage $8,000.000 1910 5 A-0
Ott Int. at Fidelity Trust Co., Phila., Trustee.
gold ($1,000) s f
See text July 1 1927
Indianapolis & Eastern 1st 1902 5 g
Cons M $1,000,000 gold Int. at Mercantile Trust Co., N. Y., or at
Central Trust Co., Indianapolis, Trustee.
($1,000)sinking fund_ _c*tf
93,000 Jan 1 1929
Ind & Green 1st M,$300,000i 1899 5 g
Vott Int.at Cit. Savings& Trust Co.,Tr.. Cleve.,
($1,000) gold
or at First National Bank. New York City.
Stock.-Pref. stock is 5% um. after July 1 1910. Should corn. at any
time pay 6%. pref. will pay the same. V. 90, p. 1555.
Bonds.-Remalning 1st & ref. bonds are reserved for additions and improvements, under careful restrictions. Callable as a whole from April 1
1915 at 105 and int., or in part, for sinking fund only at 102Yi and int.
on any int. date. $586,000 held in sinking fund Apr. 1 1917.
S. f. _355,000 p. a. first 5 years and $106,675 p. a, thereafter; bonds
acquired for s. f. to be alive and int. added to s. f. V. 90, p. 1491.
Of the $1,000,000 Ind. & East. consols auth.. $300,000 are reserved to
retire the Ind.& Greenfield1st 5s,$60,000 have been canceled by sink. fund.
Of the remaining $640,000 out, $585,000 are owned by Terre Haute Ind. &
East. Trac. A sinking fund. 1 of bonds out, began July 11908. Fund is
to be invested In the company's bonds if they can be bought at not more
than 105 and int. Bonds cannot be called. See V. 75, p. 342. On the
Ind. & Greenfield bonds, $12,500 is payable yearly to a sinking fund beginning Oct. 11904, with which bonds beginning with No. 1 are being purchased at 105 and accrued int.; $207,000 were so purchased up to
Apr. 11917.
Dividends.-InItlal div.. 131%, on pref. paid Oct. 1910; same amount
quar. to and incl. Jan. 1914. None paid since. See V. 98. p. 914.
REPORT.-For entire system fop calendar years:
1914.
1915.
1916.
$6,970,395 $6,436,317 $6,667,263
Gross earnings
4,261,162
4,114,246
4,383,821
Operating expenses and taxes
$2,86,574 $2,322,071 $2,406,101
Net earnings
Rentals and other deduc'ns sub. cos_ $1,629,382 $1,628,708 $1,625,478
152,247
159,417
162,089
Sinking funds, subsidiary companies..
27,500
27,500
27,475
Int. & sk.fd. on divis. bds. of this co..
Balance
Interest on T. H.I. & E. T. bonds_ _ _
Sink. fd. on T. H.I. & E. T. ponds

$767,628
$303,123
128,552

$506,446
$309.184
118,184

$600,876
$325,000
55,000

$220.876
$79,078
$335,953
Balance
Note.-In addition to sinking funds as shown above, there was paid as
which
was apfund
sinking
in
held
by
trustees
already
Interest on bonds
plied to the purchase of additional bonds, $74,600 in 1916, $63,215 in 1915
and $80,110 in 1914, making total received for sinking fund account by
trustees $386,992 in 1916, $361,616 in 1915 and $299,857 in 1914.
ROAD.-Operates a modern high apeed electric railway over lines
which comprise a continuous route from and including the city of Paris in
Illinois through the city of Terre Haute and towns of Brazil, Greencastle
Amo,Clayton and Plainfield, to the city of Indianapolis,and thence.through
the towns of Greenfield. Knightstown, New Castle and Cambridge City, to
the city of Richmond in Indiana; also a line running south from Indianapolis
to Martinsville, Ind.; a line running west from Indianapolis to Danville,
Ind.; a line running northwest from Indianapolis to Lafayette, with a
branch to Crawfordsville; a line running northwest from Indianapolis direct
to Crawfordsville and from Terre Haute a line north to Clinton. Ind., and a
line south to Sullivan, Ind. Also operates the city lines in Indianapolis,
Terre Haute and Richmond. Total miles in single track: city lines, Indianapolis, 141.08 Terre Haute, 27.63; Crawfordsville, 1.64, and Richmond,
12.81; total, 183.16 interurban lines, total, 367.03. Grand total, entire
system, 550.19 miles.
OFFICE RS.--Pres.. Robt. I. Todd; V.-Ps., Marshall S. Morgan, E. B.
Peck and John J. Appel: Sec. & Treas., Jos. A. McGowan.
Directors.-Robt. L. Todd, Randal Morgan. W. Keeley Schoopf, Harry
8. New, J. J. Appel, Jos. A. McGowan and E. B. Peck. V. 95, p. 892;
V. 96. p. 717: V. 98, p. 525. 914: V. 99, p. 1911; V. 104, p. 765. 1801.
(1) Indianapolis Traction & Terminal Co.
In April 1910 control was acquired by the Terre Haute Indianapolis &
Eastern Traction. V.90, p. 1101, 1239.
ORGANIZATION.-Incorporated in Indiana on Aug. 4 1902 with
$500,000 capital, which was increased in Jan. 1903 to $5,000,000 to lease
the Indianapolis Street Ry. and to provide terminal facilities for all interurban electric roads now entering or yet to enter Indianapolis. Franchise Is for 31 years, under the terms of which the company is to pay the
city 4 cents per car for the first 11 years,6 cents for the next 10 years and 9
cents for the remaining 10 years. On Dec. 29 1902 leased for 31 years the
1301.
Indianapolis Street Ry. V. 75,
p' under agreements by which they pay
Interurban railways enter the city
3 cents per passenger for all passengers carried in the city limits and an
additional 1 cent for those using the terminal station. V. Si, p. 264.
Owns a one-fourth interest in the United Tractions Coal Co. insuring
the company an adequate coal supply. See Shirley Realty Co. of Ind.
In V. 104, p. 1805.
Interest. Outstanding, Last Div.
STOCK AND BONDS- Date.
$5,000,000Dec 13 13(%
Stock $5,000,000
5,000,000 Jan 1 1933
g A-0
5
gold
t
1903
$5.000,000
mortgage
let
Phila., Tr.
($1,000) sink fund _ ___c*ttfInt. at Guaranty Tr.& S. D.Co.,
of 1 1-507 of
Bonds.-A sinking fund provides for the payment annually
V.
See
76,
fund.
1085.
sinking
the
in
those
including
bonds outstanding,
p. cal.
Bonds may be drawn for sinking fund at 10254 and int, and are subJ.to
fund Apr.41917.
at that price. See V.81,13. 264. $1,014.000 held in sinking
Dividends.-First dividend on stock 107, was paid Dec. 31 1908; in
1909,2%; in 1910. 2%; in 1911,5%; in 1012, July, 2%; Dec., 2%. In
one since.
1913, June, 2%; Dec.. 131%.
ROAD,&c.-Has completed 24.39 miles of single track and owns 9-story
office and terminal building, train-sheds and 3 freight depots centrally
located in Indianapolis; also real estate on which same are constructed.
This terminal is used by all interurban roads (13 in number) entering Indianapolis. A new freight terminal is to be erected. Also leases the Indiof
anapolis Street Ry., 116.69 miles. Owns electrical and steam equipment
service
7,000 k. w. capacity. Owns 299 double-truck passenger and 113
pastruck
and
truck
double
single
52
182
lease
under
cars. Also operates
senger cars and 5 service cars owned by the Indianapolis Street By.
EARNINGS.-For calendar years:
Surplus.
Charges.
Net.
Gross.
Year$122,551
$1,451,228
$1,573,779
$3,638,908
1916
3,199
1,426,230
1,429,429
3,362,392
1915
OFFICERS.-Pres., Robt. I. Todd; V.-Ps. E. B. Peck, Marshall S.
Morgan and John J. Appel; Sec. & Treas., W. P. Milholland.-V. 94, P.
207;V. 97. p. 1426; V. 98, p. 523; V. 104, P. 256, 1801.
(a) Indianapolis Street Ry.-A trolley system.
1899. After
ORGANIZATION.-Incorporated in Indiana March 7City
Railroad,
acquiring the Citizens' Street RR. of Indianapolis and the
to surrender the
made a contract with the City of Indianapolis agreeing
franchise
new
running
a
accept
and
companies
both
of
franchises
rights and
that cash fares are not
only thirty-four years. The contract also providesare
to be sold at the rate
to exceed five cents, with free transfers, and tickets dollar.
of six for twenty-five cents and twenty-five for one
to expend
The company also binds itself to pay over to the city (which Is 1925,
and
from 1899 to
it on the public works)the sum of $30.000 yearly
In 1933contract
expiring
the
inclusive,
1932,
to
1926
$50,000 yearly from
"at
see V. 68, p. 723. The city gets the right to purchase the property
any time within two years and not later than one year before the expiration
of this contract," nothing to be paid for the value of the franchise. Law
sustained May 1902. V. 74, p. 936.
As to the three-cent fare case, which the U. S. Court of Appeals decided
In favor of the Citizens Co.In Dec. 1897,see Supplement of Nov. 1898,and
V. 64, p. 842, 1180; V. 65, p. 51, 181, 1172.
Guarantees the ($400,000) bonds of Broad Ripple Traction Co.,and owns
75% of its stock.

MAY. 1917.]

ELECTRIC RAILWAYS

Lease.-On Dec. 29 1902 was leased to the Indianapolis Traction & Terminal Co.for 31 years. See V.75, p. 1301. Lease provides for dividend of
1% Jan. 1 1903, then 3% in semi-annual installments for first year,4% for
second year, 5% for third year and 6% after July 1906.
Interest. Outstanding. Idaturity,&c.
STOCK AND BONDS- Date.
J-J
Capital stock ($100)
$5,000,000 Jan '17. 3%
Indianapolis Street Ry gel 1899 4 g J-J
6,000,000 Jan 1 1933
mortgage $6,000,000 gold Interest at Guar. Trust & Safe Deposit Co..
e*riti
Philadelphia. Trustee.
($1,000) guar
4,000,000 may 1 1933
Street Ry 1st M 1893 5 g M-N
Citzens'
i
$4 000
g 31,000)_e* tf Central Trust Co., New York, Trustee.
/Imoontiwoleries "A': 1909 5 M-N
.e.
ustte
pOhiaS,eeTtrex
Fidelity Trust Co., Philadt
($1,000)---"B.. 1911
5 J-J
Equip.certificates
Fidelity Trust Co., Philatgaa,44reuest
3100,000
tee
x.
t
See
ET EI. certificates Series"C" 1913 5 M-s
0
Fidelity Trust Co., Phila6 elp
ex
a, Trustee.
Benin.Certificates Series..D"} 1913 6 J-D
70.000 See text
$100,000
Equip certificates Series "E"f 1916 5 J-D
stt
.
See
e
.e
trtuex
S
125,000
25,0 phu.
{pa. Co.for Ins. on L &
125,000 (31,000)
nterest on Citizens' consols at Fourth Street Nat. Bank, Philadelphia.
The mortgage of 1899 was for $7,000,000, but $1,000,000 has been canceled. No bonds reserved for the Citizens' consols. The company binds
itself to pay to the Indiana Trust Co. a sum annually sufficient to redeem
at maturity the greater part of the entire issue of Indianapolis Street Ry.
bonds; this provision is guaranteed by the Indianapolis Traction & Terminal
Co. See V. 76. p. 542: $798,000 held in sinking fund Apr. 1 1917. Equip.
certificates Series"A" mature $10,000 on May 1 and Nov. 1 each year until
paid In full. $160,000 have been retired. They cover purchase of 54 new
cars. V. 88, p. 1499. Series "B" mature $5,000 on Jan. 1 and July 1 in
each year until paid in full. 160,900 have been retired. They cover purchase of 25 new cars. Series '0' mature $5,000 on March 1 and Sept. 1
each year until paid in full. They cover 25 new cars. $40.000 have been retired. Series "D" mature $5,000 on June 1 and Dec. I each year until
paid. Covers 25 new cars. $30,000 have been retired. Series "E" mature $6,000 or $7,000 on June 1 and Dec. 1 each year. They cover 25 cars.
Stock and bonds listed on Phila. Stock Exchange, V. 69. p. 851.
ROAD.-116.69 miles of track; 182 single-truck and 52 double-truck
passenger and 5 service cars. 90-1b. rail.
OFFICERS.-Pres., Henry Jameson; V.-P., H. s. New; V.-P., H. .1.
Ribbon; Sec. & Treas., Jos. A. McGowan; Asst. Sec. & Treas.. W. F.
Milholland, Indianapolis.-V. 79, p. 151; V. 88. p. 1499
(2) Terre Haute Traction & Light Co.
Leased.-In March 1907 was leased to the Terre Haute Indianapolis St
Eastern Trac. Co. for 999 years. The latter company guarantees 6% on
the outstanding pref. stock and 2% on common for 1yi years, 3% for
1 year, 4% for 1 year, and 5'70 thereafter, and $1,000 per year for organi•
zation expenses. V. 84, p. 750.
The Terre Haute Ind. & East. Trac. owns all the common stock except
directors' shares.
ORGANIZATION.-Is a consolidation in 1904 of the Terre Haute Electric Co. and the Terre Haute Electric Traction Co. Principal railway
a l lighting franchise perpetual; other franfranchises expire 1952; Princip
chises average 30 years from Jan. I 1906413Leases Terre Haute & West.Ry.
Interest, Outstanding. Maturity.
STOCK AND BONDS- Date.
M-S
Common $2,000,000 ($100)__
$2,000,000 See text
M-S
Pref.$1,000,000(31006% cu.
1,000,000 Mar.'173%
First cons mtge $5.000,000 1904 5 g M-N
CM
o.ayB10s1t9
o4
n4
.
tt Interest at State Street
gold
3 17
Trust
9M00
Terre Haute Electric 1st mtg 1899 5 g J-J
1,500,000 July 1 1929
$1,500,000 gold ($1.000) es Int. at Boston Safe Dep.& Tr. Co.. Boston
Bonds.-The Union Trust Co.of Indianapolis and the Boston Safe Deposit
& Trust Co. are joint trustees of the Terre Haute Electric mtge. Of the
$5.000,000 consols, $1,500,000 are reserved to retire prior liens. The new
bonds are callable as a whole at 110 and int. on any int. date. A sinking
fund of 1% of outstanding bonds commenced May 11906. $321,000 was
held by this fund Apr. 11917. The United States Trust Co.of Terre Haute
and the State Street Trust Co. of Boston are trustees of this mortgage.
See V. 78. p. 2013.
EARNINGS.-For calendar years:
Net. Oth.Inc. Deduens, Sink.Fd. Balance
Gross.
Year$1,409,369 $656,342 $1,000 $266,483 $31,897 $358,962
1916
•1.296,157 577,401
1.000
1915
32,216
268,083
278,102
ROAD.-Embraces 87.26 miles of track in Terre Haute, including lines
from Terre Haute to West Terre Haute, Clinton, Brazil, Sullivan and Sanford, Ind. Rails, 60 to 80 lbs. Owns 108 city passenger and 15 interurban passenger cars, 6 freight and 20 service cars.
OFFICERS.-Pres..Demas Deming;
Robt. I. Todd; Sec.& Treas..
Joseph A. McGowan.-V. 84. p. 750; V. 90. p. 1555; V. 98, p. 526.
Terre Haute & Western Ralway Co.-An electric road.
Leased to Terre Haute Traction & Light Co.for 999 years from N.ov.1907.
ORGANIZATION.-Incorporated in 1907 in Illinois. Road extends
from the Indiana State line near Sanford, Ind., to Paris, Ill., 10.63 miles.
Began operation Oct. 25 1907. Is entirely on private right-of-way. Entire
corn. and pref. stock owned by Terre Haute Ind. & Eastern Trac. Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock common $200,000----Preferred $150,000
5 g M..14
First mortgage $250,000 gold I 1907
250,000 Nov 1 1937
auar p & 1 ($1.000)._ est(fInt. at New England Tr. Co., Boston. Trus
ygonds.-Are guar. p.& I. by endorsement by Terre Haute Tr.& Lt. Co.
EARNINGS.-For calendar year 1916. gross, $51,546; net, after taxes,
$22,116: other Income. $500; deductions, $12,500; surplus, $10,116. In
1915, gross, $46,890; net, after taxes, $17.983; other income, $500; deductions, $12,500; surplus, $5,983.
OFFICERS.-Pres., T. F. Grover; V.-P., F. T. O'Hair; Sec. &
Treas., John T. Beasley.-(V. 90. p. 1555).
(3) Indianapolis & Northwestern Traction Co.-An electric road.
Lease.-In April 1907 was leased to the Terre Haute Indianapolis &
Eastern Traction for 999 years. The latter company will pay
the interest
on the bonds; also 15j% quer. or 5% per annum on the $450,000 pref.
stock and $500 per year for organization. V.84. p. 869.
Entire issue of common stock, except directors shares, is owned by the
Terre Haute Indianapolis & Eastern Traction.
ORGANIZATION.-Organized in 1902 in Indiana. Operates a modern
high-speed interurban railroad, standard-gauge, located upon private right
of the city corporate limits. Extends northwesterly from
of way outside
the city of Indianapolis through the cities of Lebanon and Frankfort to the
city of Lafayette, with a branch from Lebanon to Crawfordsville, each of
which cities is the county seat of its respective county. Has trackage
rights to the business centres of Indianapolis and Lafayette.
The franchises run for 31 to 50 years from 1907 and permit the carrying
of freight, express and mail, as well as passengers.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
Common 32,550,000
32,550,000
Q4 _
Pref ($1,000,000) 5% cum__ _ - -- _
450,000
See text
000
goldt
1903
5
g M-8
First mtge 33,000.
Mar 1 1923
c*tflInt. at Columbia Tr.2,470,000
$1,000)
Co.. N. Y. Trus.
Bonds.-The remaining $530,000 for improvements,&c., at 50,% and 75%
of cost. No s. f., but bonds can be called on any int. date at 110 and int.
EARNINGS.-For year ending Dec. 31 1916, gross, $448,529; net, after
taxes, $136,271; other income,$500; bond interest, $123,500; surplus, $13,271. In 1915, gross, $426,808; net, after taxes, $125,914; other income,
$500; bond interest, $123,500; surplus, $2,914.
ROAD.-Embraces 84.15 miles of track between Indianapolis, Zionsville, Lebanon, Frankfort and Lafayette, including a branch from Lebanon
to Crawfordsville. Standard gauge; 70-lb. T rail. Owns 20 passenger,
5 freight and 5 service cars. Power house and car barn are at Lebanon.
V. 88, P. 295; V. 92, p. 59.
OFFICERS.-Pres., Robt. I. Todd; V.-Ps., Chas. Murdock and Harry
S. New; Sec. & Treas., Jos. A. McGowan.
(4) Indianapolis & Martinsville Rapid Transit Co.-An electric road.
Leased.-In April 1907 was leased to the Terre Haute Indianapolis &
East. Trac.for 999 years. The latter co. will pay the int. on the bonds; also
$500 per year for organization, V. 84, p. 749. The Terre Haute Ind. &
Eastern owns entire issue of stock except directors' shares.




9.28:888

51

ORGANIZATION.-Incorporated in Indiana on April 24 1901. Operates on private right of way except in incorporated towns.
STOCK AND BONDS-- Date.
Interest. Outstanding. Maturity.
Stock $750,000 ($100)_
$750,000
First mtge,$750,000 (31.000)) 1902 5 g J-J
750 000 Jan 1 1932
gold
__cseScr ntf Union Trust Co. and Security Tr. Co. of Indianapolis, Trus. Int. at Sec. Tr. Co., Ind.
Bonds.-No sinking fund, but bonds are subject to call after 10 years at
105 and interest. See V. 78, p. 1223.
EARNINGS.-For calendar year 1916, gross. $167,112; net, after taxes.
$39,954; other income, $500; bond interest, $37,500; surplus, $2,954. In
1915, gross, $155,411; net, after taxes, $44,499; other income, $500; bond
interest, $37,500; surplus. $7,499.
ROAD.-Embraces 27.54 miles of track from Indianapolis to Martinsville, completed in May 1903. 70-1b. rails; standard gauge.
OFFICERS.-Pres., Robt. I. Todd; V.-Ps., Harry S. New,Chas. Murdock and John J. Appel; Sec., E. B. Beck; Treas., Jos, A. McGowan.
V. 84, p. 749.
(5) Indianapolis Crawfordsville & Danville Electric Ry.
Lease.-On May 1 1912 was leased to the Terre Haute Indianapolis &
Eastern Trac. for 999 years. Under the lease the latter company guarantees p. & I. of 1st M. bonds, 5% diva. on $200.000 pref. stock and semiannual divs. on corn., viz.: % from Nov. 30 1912 to May 311914, 1%
Nov. 1914 to May 1916, 13,6% Nov. 1916 to May 1918 and 2% thereafter.
ORGANIZATION.-Ineorp.in Indiana on April 20 1912 as successor to
the Indianapolis Crawforsdville & West. Tree., sold at foreclosure. Built
entirely on private right-of-way. In cities and towns has 50-year franchises
which permit the carrying of freight, express and mail matter.
STOCK AND BONDS- Date.
Interest, Outstanding. Maturity.
Common $400,000 ($100)____
M-N
$400,000 See text
Pref $400,000 57,, cum (3100)_
J-D
200,000 See text
First mtge $2,500.000 gold l 1912 5 g M-N
1,000.000 May 1 1952
($1,000) guar p& 1_ _e.Scr tf(Interest at Girard Trust Co..Phila.,Trustee.
Bonds.-Of remaining first mtge. bonds, $1,000,000 are for extensions
and $500.000 to be issued only under certain conditions. Subj. to call as
a whole but not in part at 102 and int. on any int. day. Sinking fund of
$9.000 per annum on initial $1,600,000 bonds out commencing March 1 1913
When add'i bonds are issued fund shall be increased by such amount as will
retire 2-3 of such add'i bonds issued. 351.000 held alive in sinking fund
Mar. 15 1917.
EARNINGS.-For calendar year 1916, gross, 3244219; net, after taxes,
$60,403; other income, $500; bond interest, $49,667; sinking fund,$10,193;
surplus, $1,043. In 1915, gross, $224,200; net, after taxes, $59,367; other
nc ome,$500; bond interest, $50,000;sinking fund,$10,533; deficit, $666.
ROAD.-Operates 43.62 miles of road between Indianapolis and Crawfordsville. Standard gauge. 70 and 85-lb. T rails. An extension from
Crawfordsville to western boundary of Indiana east of City of Danville.
Ind., is proposed.
OFFICERS.-Pres.,John J. Appel; V.-P., Robert I. Todd;Sec.& Treas.,
Jos. A. McGowan; Gen. Mgr., Robt. I. Todd. V. 94, p. 1449. 1565. 1695.
BROAD RIPPLE TRACTION.-A trolley road.
ORGANIZATION.-Organized as successor to the Indianapolis & Broad
Ripple Transit Co.. sold at foreclosure July 1899. The Indianapolis
Street Ry. owns about 75% of stock, but organization is separate. Road
is jointly operated by the Union Traction Co. of Indiana and the Indianapolis Traction & Terminal Co.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$100,000
Stock $100,000 (par $100).
Mtg $400,000 g ($1.000)c*ntf_(1899
400,000 July 1 1933
5 g J-J
lInt. at Guar. Tr.& .D.Co.(P hila.).Trust.
Bands.-Are guar. p. & I. by Ind. St, Ry. No s. f. and bonds cannot
be called. The Ind. Nor. Trac. Co. (subsequently consolidated with the
Union Tr. Co. of Ind.) guarantees p. St 1. of half ($200.000)of the bonds*
ROAD.-734 miles of track from Indianapolis to Broad Ripple Park.
OFFICERS.-Pres., Robert I. Todd; Sec., Jos, A. McGowan; Treas.,
E. B.Peck. V.69. p. 180; V.73. p. 137. 183: Y.78.P. 1167.
INDIANAPOLIS & CINCINNATI TRACTION CO.
ORGANIZATION.-Incorporated in Indiana on Nov. 17 1910 as successor to the old Indianapolis & Cincinnati Trac. Co., sold at foreclosure
Nov. 10 1910. V. 91. p. 1385, 1025.
In 1911 acquired the Indianapolis & Southeastern Trac. Co.(all of whose
corn. and $30.000 1st M. bonds the old Indianapolis & Cincinnati Trac. Co.
had owned and to which company the Ind. & Southeastern was leased) and
canceled its COM.stock. V.92. p.881,956. Private right of way except in
cities and towns. County franchises perpetual. Franchises in cities and
towns are for 50 years (the oldest being dated 1904), except in Indianapolis,
which is for 34 years from 1900. Has contract with Indianapolis Traction
& Terminal Co. for 31 years allowing its cars to enter Indianapolis.
In Nov. 1912 the I. & C. Light & Power Co. was incorporated with
nominal ($900) capital stock in the interest of the Traction Co. to furnish
light and power to the communities along the company's route.
In Feb. 1913 the I. & C. Electric RR. was incorp. with $10,000 capital
stock,to extend the Traction Co.'s lines from Rushville to Cincinnati by way
of Brookville, Ind., and Harrison, 0. It may later be merged with the
Cincinnati Harrison & Indianapolis Traction Co.
In April 1913 acquired control of the Cincinnati & Westwood RR., a
narrow-gauge road extending from Westwood, on the boundary line of
Cincinnati, to Brighton, within the city, 5 1-3 miles. V. 96. p. 1297.
Interest, Outstanding. Maturity.
STOCK AND BONDS- Date.
Common $2,000,000
$2,000,000
J-J
Pref $1,000.000 (see text)____
1,000,000 In 1912, 1.7
First mtge $4,850.000 (31,- 1910 5 J-J
1,400,000 July 1 194
c* Interest at Central Trust Co., N. Y., Trus.
000) gold (see text)
I & E pf stk 3600,000 ($100
A-0
600,000 In 1916,5%
Ind & S E 1st M $1,000,000 1905
5 g J-J
586,000 July 1 1935
Int. at Farmers' Loan & Tr. Co.,N.Y.,Trus.
gold ($1.000)
Ind Shelbyv & Southeast 1st 1902 5 g
414,000 Jan 1 1932
M $500.000 g ($1,000) sf
Int. at Amer.Tr.& Say.Bk.,Chicago,Trus.
Stock.-Ind.& Cin. Trac. pref. is entitled to non-cum. divs. of 2% until
July 1 1911, then increasing 1% yearly to July 1 1913; thereafter 5% per
annum. Ind. & S. E. pref. is redeemable at 105 and accrued div. on any
dividend date. See V. 81. p. 1375.
Bonds.-Ind.& Cm.Trac. 1st M.is divided into three classes, A., B and C.
Class A. 31,300.000, all out; Class B,$200,000, none Issued; and Class C.
$3,350,000 (of which $100,000 outst'g), reserved for extens., improvem'ts,
&c. Entire series of bonds of each class is subject to call on or after July 1
1913 at 105 and int. As to priority of different series, see V. 92. p. 956.
Of the $1,000.000 Ind. & S. E. bonds, $414,000 is reserved for prior liens
They are subject to call on any int. date at 105 and int. Of the Ind. Shelby.
& S. E. bonds, the entire issue may be called on any int. date at 110. A
sinking fund on these bonds of $10,000 per annum began Jan. 1 1908, for
which bonds can be called at 105, beginning with lowest number. $86,000
have been retired.
Dividends.-On pref. paid in 1911, 1 %; in 1912, 1%.
EARNINGS.-For fiscal year end. June 30 1916, gross, $440,946; net,
$149,900; other income, $1,290; interest, taxes and dividends on I.& S.E.
pref., $176,637; deficit for year, $25,447.
ROAD.-Operates 58 miles of track from Indianapolis via Rushville to
Connersville and 49 miles of track from Indianapolis via Shelbyville to
Greensburg. Total, 105 miles of track. An extension from Rushville)
via Harrison. O.,to Cincinnati is proposed. 60 and 70-lb. T rails. 20 passenger cars and 4 =Press ears.
OFFICERS.-Pres., Chas. L. Henry, Indianapolis; V.-P., T. F. Rose,
Muncie; Sec., John J. Appel, Indianapolis; Treas., John F. Wild, Indianapolis. Office, Indianapolis.-V. 92. p. 322, 881, 956: V.96, P. 1297.

IRONWOOD, MICH.
IRONWOOD & BESSEMER RAILWAY & LIGHT CO.
In Jan. 1917 the L. E. Myers Co. of Chicago, Ill., purchased control.
ORGANIZATION.-Incorporated in Wisconsin. Owns 59% of the
stock of the Ashland Light, Power & Street Ry. Co. Controls the electric
light, power and street railway business in Ashland, Ironwood, Bessemer,
Wakefield, Hurley and Gile; the gas business in Ashland. and the water

[VoL. 104.

ELECTRIC RAILWAYS

52

supply in Ironwood,Hurley and Gile. Also ownssome ofthe most valuable
natural water powers in Wisconsin. Franchises in Ironwood and Bessemer
expire in 1941. In Wisconsin operates under indeterminatefranchise.
In Jan. 1913 increased its auth. pref. stock from 3200.000 to 3400,000
Interest. Outstanding. Maturity•
STOCK AND BONDS- Date.
See text
$500,000
Common $500,000 ($100)_
See text
311,500
Q-M
Pref $400,000 ($100)7% cum_ ____
1,564.000 Feb 1 1936
5 F-A
First mtge 32.500,000 gold 1 1911
sink fund ($1.000) c*_cptTint. at American Trust Co.. Boston,Trustee.
721.000 Jan 1939
Ash Lt P & St Ry 1st mtge( 1909 5 g J-J
31.000.000 gold ($1,000) Int. at Chicago Say. 13k. & Tr. Co., Trustee
Penn tax refund_ _ _c&r_ tf (Leverett Thompson of Chic., Co-Trustee
Bonds.-Remaining Ironwood & Bessemer 1st M. bonds may be issued
for 75% of cost of new property under certain restrictions. They are subject to call on any int. date at 104 and int. for sinking fund. Sinking fund
providing for retirement of 1% of outstanding bonds began with year
ending Feb. 1 1916. Ashland Light, Power & St. Ry. bonds are subject to
call on any int. day at 104. Sinking fund of 1% of bonds out began in 1912.
See V. 104, p. 450.
Dividends.-7% per annum in being paid on preferred (increased in 1916
from 6% per annum). 8% is being paid on common stock.
EARNINGS.-For years ending Dec. 31:
Bond Int. Surplus.
Net.
Gross. Exp. & Taxes.
Year$85,687
$75,610
$261,297
$128,900
$290,197
1916
89,391
67,584
156,975
111,387
268,362
1915
ROAD.-Owns 15 miles of street railway serving Bessemer. Ironwood,
development,
p.
h.
7,000
of
capable
power
sites
water
Hurley and Gile; 2
located at Brownstone and Superior Falls; two developed hydro-electric
plants of 2,650 h. p. at Mellen and Saxon Falls; 2 steam plants at Ironwood
and Bessemer, 113 miles transmission lines.
OFFICERS.-Pres. L. E. Myers; V.-P., L. N. Boisen; Sec. & Treas..
104,
Wm. H. P. Weston. Office, 53 W.Jackson Blvd., Chicago,
P. 452, 764.

ISHPEMING, MICH.
MARQUETTE COUNTY GAS & ELECTRIC CO.-A trolley road.
Controlled by Middle West Utilities Co., which see in our "Railway and
Industrial" Section.
ORGANIZATION.-Incorporated in Maine on Nov. 19 1906 as reorganization of the Marquette County Gas Light & Traction Co., sold under
foreclosure. V. 83, p. 1037. Does street railway, gas and electric-light
business in Negaunee and Ishpeming and electric light business in Palmer.
Franchises expire: Street railway. 1936; gas and electric in Ishpeming.
perpetual; in Negaunee. gas. 1933; electric light, 1921.
The Michigan Gas & Electric Co. was incorporated in Michigan
on Feb. 14 1917 and has applied to the RR. Comm. for authority to issue
$900,000 capital stock and $458,000 first & ref. bonds, with the proceeds of
which it proposes to consolidate the gas and electric properties of the Marquette County Gas & Elec. Co.. and the following: Constantine Hydraulic
Co., generating plant and transmission system in Three Rivers, Constantine, White Pigeon and Vandalia, all in St. Joseph County; Houghton
County Gas & Coke Co., gas in Hancock and Houghton; Three Rivers Gas
Co., gas at Three Rivers; Three Rivers Light & Power Co., electric generating and transmission at Three Rivers; Milling & Power Co., operating an
electric distribution system at Cassopolis. The Marquette Co. is to retain
#3410111
In
the electric railway properties.
Interest. Outstanding. Maturiti.
STOCK AND BONDS- Date.
$750,000 In 1916,4%
Common 3750,000 (3100)--_-See text
125,000
monthly
Pref6% cum $250,000 ($100)_
419,000 Jan 1 1930
First mtge $1,000.000 gold). 1910 6 J-J
c*.tffInt. at First Tr. & Say Bk., Chic., Trustee.
(31,000)
Bonds.-First mtge. bonds are reserved under certain restrictions for
improve'ts and extens. at 85% of cost thereof. Sinking fund of 1% of bonds
out from 1913 to 1915, incl., from 1916 to 1929, Incl.. 2% yearly. Red. at
105 and int. on any int. day. V.91,p. 1767.
Dividends.-6% is being paid on the pref. stock. On common, began
paying at the rate of 3% per annum April 11913. In 1916. 4%•
Net (aft. Bond,&c..Pf. Div. Common Balance,
Gross
EARNS.Earnings. Taxes). Interest. (6%). Dividend. Surplus.
Cal. Year372,603 $25,513 $7,500 (4)330,000 39,590
$168.296
1916
629
23.125 7,500 (3) 22,500
142,538 53,754
1915
of track in and between Negaunee and
miles
434
ROAD.-Operates
Ishpeming.
OFFICERS.-Pres., L. E. Myers; V.-P., M. J. Insull; Gen, Supt,
J. D. McDougall Ishpeming; Sec. & Treas., W. H. P. Weston, 1117
Monadnock Building, hicago.-V. 94. p. 279, 351; V. 104, p. 952.

ITHACA, N. Y.
ITHACA TRACTION CORPORATION.
ORGANIZATION.-Incorp. in N. Y. Mar. 30 1914 as successor of the
Ithaca Street Ry.sold at foreclosure under bondholders'reorganization plan.
The new co. is controlled by the Central N. Y. Southern RR. Corp., an allied steam road. by ownership of all the ($400,000) outstanding stock and all
($488,000) outstanding 1st & ref. bonds. The Central N. Y. Southern RR.
Corp. Is a reorganization of the New York Auburn & Lansing RR. and is
capitalized as follows: Common stock, auth., 31.275.000; outstanding
3375.000. Pref. stock. auth. and outstanding, 8725.000;and 1st and col.
trust Ers due 1964. Auth. 34.000.000; out.. $1,000,000. (V. 99. P. 538.)
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
*3400.000
Capital stock, $1,000,000 _ _ _
*488.000 Apr 1 1964
5 A-0
lst&ref M e2,000.000. g. red 1914
Columbia Trust Co., N. Y.. trustee.
any Int date at par&intetf
175,000 July 1 1922
J-J
6
1892
M
1st
Ithaca Street Railway
Int. at Farmers Loan & Tr Co., N. Y.
tt
$175,000
75,000 July 1 1922
6 J-J
tf_ 1894
2nd M $75,000
25,000 June 1 1922
6 J-D
Cayuga Lake El Ry 1st M_tf 1894
* All owned by the Central N. Y. Southern RR. Corp.
Bonds.-Of the 1st de ref. mtge. 5s. $488,000 are issued and are all owned
by the Cent. N. Y. So. Remaining bonds are reserved for future requirements,including the retirement of the three underlying prior lien as above.
EARNINGS.-For years ending June 30:
Other Balance,
Bond
Oper'g Net (after Other
June 30
Revenue. Taxes). Income. Interest. Deduc. Surplus,
Year$1,914
811,008
$38,652
$1,139
$193,902
$50,435
1915-16
1,157
10,578
186,498 40,795 5,700 34.760
1914-15
..T."
80-lb.
Rails,
track.
of
miles
11.49
operates
and
ROAD.-Owns
OFFICERS.-Pres.,R.B. Williams Jr., Ithaca, N. Y.; 1st V.-P., H. W.
Fitz,Pawtucket,R.I.;2d V.-P.& Gen. Coun.,Chas. E. Hotchkiss,34 Nassau St., N. Y.; 3d V.-P., Sec. & Gen. Mgr., H. A. Clarke, Ithaca; Treas.,
Asst. Gen. Mgr.& Purch. Agent, T. P. Clancy, Ithaca.-V.99, p. 538.

JACKSON, MISS.
JACKSON LIGHT & TRACTION CO.
Controlled by American Public Utilities Co.
ORGANIZATION.-Incorp. in Miss. in May 1912 to combine local gas,
electric light and power and street railway properties. Has contract for
city electric lighting running to April 1923. Franchises extend beyond
April 11922.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,000,000
Common $1.000.000 ($100)_
520,000
Pref 6% cum $600,000_
915,000 April 1 1922
First mtge $2,500,000 gold' 1912 5 A-0
($100,$500,$1,000)sf_c*tf'Chicago Savings Bank & Trust Co., Trustee.
Bonds.-Remainina bonds are for imnts.. add'ns and extens. under certain restrictions. Subject to call as a whole (or in part for sinking fund) on
any interest date at 105 and int. Sinking fund of 2% of bonds out began
Feb. 1 1914. Interest in Chicago and at New York office of P. W. Brooks
,St Co., Inc. See V. 94, p. 1566.
EARNINGS.-For 12 months ending Dec. 31:
Surptus.
Interest.
Net.
Gross. Exp. & Taxes.
Year$72,982
$44,490
$117,472
$192,251
3309,723
1916
41,029
45,485
86,514
193,271
279,785
1915
ROAD.-Owns 14 miles of track. Standard gauge. 18 passenger cars.
-V.94, p. 1566; V. 98. p. 1244; V. 101, p. 773; V. 103. p. 406. 666.




JACKSON, TENN.
JACKSON RAILWAY & LIGHT CO.
ORGANIZATION.-Incorporated in Tennessee in July 1906, and is successor to the Jackson & Suburban Street Railroad Co. Franchises expire
in 1963. Also owns a park of 15 acres. Does lighting and power business
In addition to street railway.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$300,000
Common $450.000 ($100)---Q-F
250,000
Preferred 6% cum
494,000 Jan 1 1937
First mtge $600,000 (81,000)1 1906 5 g J-J
No s f. Redeem at 105_ _et Fidelity & Columbia Tr. Co., Louisville.'Fr.
Stock and Bonds.-$150,000 corn. and $100.000 bds. are held In treasury.
EARNINGS.-For cal. year 1916, gross, $123,207; net, $56.634.
ROAD.-Operates 7A miles of track. 72 and 50-1b. T rails.
OFFICERS.-Pres.. C. E. Claggett; V.-P. & Gen. Mgr., S. S. Bush;
Sec., Geo. W. Lewis; Treas., Fidelity & Columbia Trust Co., all of Louisville. Ky.-V. 83, p. 95.

JACKSONVILLE, FLA.
JACKSONVILLE TRACTION CO.-Trolley.
ORGANIZATION.-Is a re-Incorporation in Mass.In March 1911 (V.92.
p. 881) of the Jacksonville Elec. Co.. which was a consolidation of the Jacksonville St. Ry.Co.,the Main St. RR.Co.and the Jacksonville Elec. Lt.Co.
Stock of old company was exchanged, share for share, for stock of new company. Railway franchise expires in 1932. Does entire electric railway business in Jacksonville. $350,000 corn.stock is held by Pub.Serv. Invest. Co.
On Feb. 28 1914 shareholders authorized 3500,000 additional pref. and
$500,000 additional common, making 31.000.000 pref. and $1,500,000
common. V. 98, p. 763, 690. 611.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
See text
31.000,000
Common $1,500,000 ($100)- ---Q-F
See text
6 Q-F
Pref6% cum 31.000,000(31001 ____
500,000
5 M-S
850,000 Mar. 1 1931
First consol mtge 35.000,000 1911
(3500 and $1,000)____c*tf Int. at State Street Trust Co., Boston, Trus.
1,245,000 May 1 1927
Jacksonv Elec 1st M (as- 1902 5 g M-N
sumed)gold(31,000)c*_n tf Int. at American Trust Co., Boston,Trustee.
750.000 Mar 1 1919
2-year coupon notes 31,000.-1 1917 6 M-S
000 g ($500 & $1,000) _ _c*fInt. at State St. Trust Co., Boston, Trustee.
Stock.-3100,000 common stock not reported outstanding held in treasury.
Bonds.-Of the 1st consol. bonds, $1,245.000 are reserved to retire Jacksonville Elec. 1st M. and $2,905,000 are for additions and improvements at 80%, of cost. Subject to call as a whole or in part for sinking
fund at 105 and int. Sink.fund, 1% per annum of bonds out began Mar. 1
1917. V. 92, p. 1564. Jacksonv. Elec. Co. bonds are subj. to call as a
whole at 105 and int, on any int. date. A sinking fund of 1% annually of
bonds out commenced May 11907, which may be used for exten. and impts.
or in purchase of bonds. 35.000 bonds have been canceled. The coupon
notes are callable as a whole at 100 and int. on 30 days' notice.
Dividends.-Paid 13i% quarterly on preferred to May 1915; in Aug. 1915
paid X % and same rate quer. to and incl. Nov. 1916. Feb. 1917 div. passed.
(V. 104, p. 361). On old Electric Co. corn. 6% ann. from Aug. 1 1905 to
Aug. 1 1910, when rate was increased to 7% and same amount paid to
Feb. 1911. On new Traction Co. corn. initial div.-131 %-paid in May
1911; szme rate quer. to and including Nov. 1914. None since.
EARNINGS.-For 12 mos. ending June 30:
Gross. Net (aft. Tax.) Interest. R.,&c., Fd,s. Surplus.
Year$19,579
3164,374 • $19,533
$203,486
• $627,194
1916
4,832
12,450
165,448
182,730
611,568
1915
ROAD.-Operates 56.9 miles of equivalent single track. Has 118 cars.
Gauge 5 feet. Power plant capacity. 2,400 k. w.
OFFICERS.-Pres., Geo. J. Baldwin, Now York; V.-Ps., Chas. P.
Wallace and Harry II. Hunt; Treas., Henry B. Sawyer; Soc., Alvah K.
Todd; Mgr., IIardy Croom, Jacksonville. Fla.; Gen. Mgrs., Stone & Webster Mgt. Assn., Boston.-V. 102. p. 1625; V. 104, P. 361, 952, 1702.

JAMESTOWN, N. Y.
JAMESTOWN STREET RAILWAY.-Trolley.
ORGANIZATION.-Incorporated Oct. 18 1883. Franchise runs till 1982.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
3250,000
Stock 3250,000(par $50)_
300,000 Jan 2 1923
First mortgage $300,000 gold). 1893 6 g
c* Int. at Guaranty Trust Co., N.Y.,Trustee.
(31.000)
143.046
Current liabilities June 30 191
EARNINGS.-For year ending June 30 1916, gross, 3366,678; net, $59.$103.013;
deficit, $20,579.
taxes,
and
charges
$23,034;
400; other income.
ROAD.-Owns 26.545 miles of track, 61 cars, 2 sweepers.
OFFICERS.-Pres., A. N. Broadhead; Sec. & Treas.. S. B. Broadhead; Gen. Mgr., G. E. Maltby, all of Jamestown.
CHAUTAUQUA TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in New York on March 7 1903. Is
controlled by the same interests as the Jamestown Street Ry.
tstanding. Maturity•
STOCK AND BONStock 3500,000 (8100)------ ----------------$500,000
600,000 April 1 1934
First mtge. 3600.000. gold). 1904 5 g A-0
crInt at Title Guar.& Tr. Co., N. Y., Trustee
(31.000)
615,360
Current liabilities June 30 1916
Bonds.-No :sinking fund and are not subject to call.
EARNINGS.-For year ending June 30 1916, gross, $154,491; net,
$38,318; other income, $1,224; taxes and charges, $66,872; deficit, $27,330.
ROAD.-Operates 26.73 miles of track from Lakewood, whore connection is made with the Jamestown St. Ry., to Mayville, there connecting
with the Pennsylvania RR., and to Westfield, N.Y.,connecting there with
the Lake Shore & Mich. So. and the N. Y. Chicago & St. Louis Ky., and
from Westfield to Barcelona-on-Lake Erie. Standard gauge; 80-lb. T rail.
OFFICERS.-Pres.. A. N.Broadhead; V.-P., Wm.Broadhead; Treas.,
S. B. Broadhead; Sec., W. IL Reynolds; Mgr., Geo. E. Maltby;

JERSEY CITY, N. J.
PUBLIC SERVICE CORPORATION.
See statement and map under "Newark. N. J."

JOHNSTOWN, PA.
JOHNSTOWN TRACTION CO.-A trolley road.
ORGANIZATION.-Incorp. in Pennsylvania on Feb. 24 1910. Was
Incorporated originally to take a lease for 18 years from Jan. 5 1910 of the
Johnstown Pass. Ry. from the American Rya. (Phila.). In Jan. 1914 the
Johnstown Pass. Ry. and the Johnstown Trac. Co. were merged under the
title of the Johnstown Traction Co., the American Rye.Co.having sold its
interests. Franchises perpetual.
Holders of the Johnstown collateral 5s of Amer. Rye. had the privilege
(until Jan. 15 1914) of exchanging their bonds for the new 1st & ref. Sc of
this company (see American Railways under "Philadelphia"); practically
all availed of the privilege.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$875,000
Common $1.000.000 par $50
1,000,000
Pf $1,000,000 7% cum ($100)
2,000,000 July 1 1943
First & ref M $e.000.000 s f 1913 5 g J-J
MOO,$1,000) gold_ _c*n tf Logan Trust Co., Philadelphia, Trustee.
399,000 Dec 1 1929
JohnsPassRy conM,S800,000 1899 4 g J-D
g($1,000)red any intday c*tf Int. at Guaranty Tr. Co.. N. Y.. Trustee.
1,601,000 Dec 1 1931
4 g J-D
Johns Pass Ry ref M $2,000.- 1901
000 gold ($1,000)4._ ..c*ntf Interest at Johnstown Trust Co., Trustee.
Bonds.-Of the first & ref. mtge. $2,000,000 are reserved to retire Johns.
town Pass. Ry. 4s; the remainder ($1,000,000) reserved for future extensions, &c. Red. at 102 and int. Sinking fund of 1% annually from Oct.
1917 to Oct. 1942, incl. Of the Johnstown Pass. mtge. of 1901, entire issue
may be called at any time at 105 upon six weeks' notice.
EARNINGS.-For years ending Dec. 31:
Surplus.
Gross. Net (aft. Tax.). Bond Int,
Year$180,424
$360,424
$180,000
$772,219
1916
134,796
180,000
314,796
656.909
1915

MAT, 1917.1

ELECTRIC RAILWAYS

53

ROAD,&C.-Owns and operates under perpetual charter and franchise Chicago or Kansas City. Callable as a whole or part at 103 and int, on
the entire street railway system of Johnstown, Pa., and vicinity. Total any int, date on 60 days' notice. Trustee, Cont. & Comm. Trust & Says.
Bank, Chicago. See V. 102, p. 2254. Listed on N. Y. Stock Exchange.
trackage, 43 miles.
OFFICERS.-Pres., E. M.du Pont.-V. 97. p. 1823; Y. 88, P. 185.
Second Mortgage Bonds.-A sinking fund of $105,820 per ann.. which
began Jan. 1 1916, is expected to retire issue by maturity. $105,820 in
fund Dec. 31 1916.
JOLIET, ILL.
Special Deferred Securities.-Issuable at par in exchange for all approved
claims inferior to old bonds but superior to the stock, for which no other
JOLIET & EASTERN TRACTION CO.
provision was made in plan. Callable at par. Bear 6% interest. cumulative,
ORGANIZATION.-This company, incorp. in 1914 in Illinois, repre- Payable only out of net
earnings. Not a lien on physical property, but
sents the reorganized portion of the Joliet & Southern Trac. Co., operating status shall no, as against owners of the stock, substantially similar to that
between Joliet and Chicago Heights. This property was appraised by the of a preferred stock.
authorized
to
stock
be
which
issued to the amount of
Illinois P. U. Comm.,
Dividends.-An initial div. of 32 50 on the pref. beneficial certificates
$269,000 and additional $31,000 for cash received. There is outstanding was
paid Oct. 1 1916. In 1917, April, $2 50.
$300,000 capital stock. No bonds.
EARNINGS.-For years ending May 31:
Earnings.-For year end. June 30 1916, gross,'360,327.
May 31.
Gross
Net (after Other 6% on Cap. Balance,
ROAD.-Total length of all track, 25 miles, extending from Joliet to
YearsEarnings.
Taxes). Income. Investment. Surplus.
Chicago Heights. 60-lb. T rail; standard gauge.
1915-16
37.065,941 32,466.373 3630 $1,953,746 3513,259
OFFICERS.-Pres., Joy Morton, Chic.; V.-P., Robt. T. Kelly, Joliet; 1914-15
6,757,176
2,197,422 582
1.858.513 338,491
For
year
ending
Chic.;
Treas.,
Daniel
Dec.
Stearns,
311916, gross earns. were $7,266,512, against 0.Peterkin, Chic.; Gen. Mgr.,
Sec., E. H.
800,711; net, after taxes, $2,451,955, against $2,169,450.
F.0. Eckmann, Jollet.-V. 99, p. 1832.
PROPERTY.-Over 300 miles of single track equivalent, about 75%
paved; remainder on bridges or private right-of-way; 2 power houses, com.AURORA PLAINFIELD & JOLIET RY.
This is the division of the former Joliet & Southern Traction, extending bined capacity 60,000 k. w., and 9 sub-stations; 675 motor cas and trailfrom Joliet to Aurora. 20 miles, and 2 miles of track in Joliet, purchased by ers in addition to work cars.
the bondholders' committee at foreclosure sale in Feb. 1914. It is being
DIRECTORS AND OFFICERS.-Representing the company: Robert
operated for the benefit of the bondholders. For the division of the old J. Dunham (V.-Pres. & Chairman), Chicago; Philip J. Kealy (Pres.).
Joliet & Southern Trac. Co., extending from Joliet to Chicago Heights. James E. Gibson (Gen. Mgr.), Clyde Taylor (Gen'i Counsel), Charles W.
see Joliet & Eastern Traction Co. above. Pres., F. K. Shrader. Chicago; Armour and George S. Hovey, all of Kansas City, Mo. Representing
Gen. Mgr., R. A. Moore.
the city: William T. Kemper, Frank C. Niles, Davis M. Pinkerton, John
W. Wagner and John H. Wiles, all of Kansas City, Mo. J. A. Harder is
BLOOMINGTON PONTIAC & JOLIET ELEC. RY.-A trolley road. Sec. & Treas.-V. 102, p. 2341; V. 103, p.666, 938; V. 104, p. 361. 1145.
ORGANIZATION.-Incorporated in 1903. Private right of way except
In cities, where franchises run 50 years.
KANSAS CITY LIGHT & POWER CO.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
ORGANIZATION.-Incorp. Jan. 3 1916 and in Feb. 1916 took over
_
Stock $2.500,000 ($100)_
395,500
the lighting and heating properties of the Kansas City Ry. & Lt. Co. as
First mortgage $2,500,000 g I 1595 5 g
301.100 Sept 1 1935 per reorganization plan. See V. 101, p. 614. 689, 1628. Lighting fran4103. $500 and $1,000)__ (Int. at Cont.& Comm.Tr. & S. B., Chic„Tr. chises are perpetual.
Int. on bonds is guar.from Mar. 1 1916 by the Pub. Serv. Co. of Nor. Ill
In Jan. 1917 the P. S. Comm. ordered the company to increase its stock
EARNINGS.-For year ending Dec. 31 1916, gross, $25,756; net (after from $2,000 to $4,977,300 to conform with the amount of 1st and 2d mtge.
taxes of $1,680), loss, 31,201. In 1915, gross, $24,441; net, (after taxes bonds approved in Feb. 1916.
of $1,698), loss, $61.
Capitalization upon Consummation of Reorganization.
OFFICE M.-Pres., Frank J. Baker; V.-P., Chas. A. Munroe; Sec..
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Paul D. Sexton; Treas., John H. Gulick, all of 72 W. Adams St., Chicago, Stock (see text,)
Pontiac,
Ill. Office at
85, p. 1004; V. 90. p. 235; V. 96, p. 651.
First mtge red at 103 and let 1915 5 J-J
$3,060,000 July 7 1944
Cont.& Corn. Tr.& Say. Bk.,Chic., trustee.
2d mtge $1,917,300 red at par 1915 6'J-J
1,917,300 July 7 1944
.
KANSAS CITY, KAN.
and interest
Central Trust Co., New York, Trustee.
Stock.-The capital stock is in the nominal sum of $2,000 (but see above)
KANSAS CITY, KAW VALLEY & WESTERN RAILWAY.
ORGANIZATION.-Incorp. in Kansas July 28 1909. The line between and is represented by 31,810.3 corn. and 31,358.3 pref. participating ctfs.
Kansas City and Bonner Springs was placed in operation July 20 1914. and of no par value. John H. Lucas, T. J. Connors and Oscar Fenley are the
from Bonner Springs to,Lawrence, Kan., on June 1 1916; total miles track trustees for the stock. It is provided that whenever a corporation can be
operated, 42,314. Gauge, 4 ft. 8% in.; 70-1b. T rail. 7 passenger cars; lawfully formed with pref. and corn. shares of no specified par value with
2 electric locomotives; 2 express and baggage, 8 box and 14 dump cars. authority to take over the stock of another corporation, as its assets, the
The road as projected will extend to Topeka, 26 miles beyond Lawrence. trustees shall cause one to be organized and shall turn over to it the stock
Connection is made with the street railway system of Kansas City. Fran- in their custody, the beneficial certificates to be canceled and replaced by
pref. and corn. shares.
chise in Lawrence extends to 1946.
Bonds.-AddItIonal 1st M. bonds may be issued, with int. to be deterFreight Terminal.-See Kan. City Clay County & St. Joseph Ry. below.
mined at time of issue, not to exceed 6%,for exts., add'ns & impts., on a
STOCK AND BONDS- Date. Interest. Outstanding.
Maturity, fixed basis. A sinking fund on the 2d M. bonds of $38,346 per ann. from
$700,000
Stock, $1,500,000 ($100)-,
not earnings otherwise available for diva., which began Jan. 1 1916.is ex1st M $2,500,000 gold ($100) 1 1914 6 g F-A
780,000
Aug 1 1924 pected to retire issue by maturity. $40,000 in sinking fund.
$500 and $1.000)_-_c*tf Int. at First Tr. & Say. Bk., Chicago, Trust.
Dividends.-An initial MY. of $2.50 upon each pref. participating certifiGeneral mtge, $812,500 gold 1914 6 g F-A
500.000
Aug 1 1924 cate was paid Oct.2 1916, being at the rate of$5 per ann.; Apr.2 1917,32 50.
Int. at Corn. Tr. Co.. Kan. City, Mo.,Trus.
-Gross earnings of the light and power properties of the
EARNINGS.
Bonds.-The issuance of first mtge. bonds for the construction of the K. 0. Ry. & Lt. Co. for year end. May 31 1915, $2,513,424; 1913-14.
road is limited to $20,000 per mile; additional bonds may only be issued $2,408,736; 1912-13, $2,156,952.
for 90% of cost of improvements, betterments, additions and extensions,
OFFICERS.-Pres.. John H. Lucas; Sec. & Treas., R. J. Clark.under conservative restrictions. Red„ all or part, at 101 and int. on any
int. date on 60 days' notice. The gen. mtg. honds are limited to $12,500 V. 103. p. 1122; V. 104. p. 168, 1804.
per mile; callable at 101 and int. V. 102, p. 1625; V. 104, p. 452.
EARNINGS.-For calendar year 1916 and years ending June 30:
KANSAS CITY CLAY COUNTY & ST. JOSEPH RAILWAY CO.
Exp. & Taxes.
Gross.
Net.
YearInterest.
On July 5 1915 the Interstate Ry. Co. was awarded a verdict for 31.500,Surplus.
3152.984
389.566
363,418
1916
$35,300
328,118 000 against the company and the estate of George Townsend by a jury in
74.019
40,769
1915-16
33,750
19,200
14,550 the Circuit Court in its suit alleging that the defendant company had
50,269
23.987
1914-15
26,282
8.000
18.282 built its line between Kansas City and St. Joseph on a part of the right-ofOFFICERS.-Pres, K. D. Klemm, Kansas City, Mo.; V.-P., & Gen. way obtained by the plaintiff(V. 100, p. 130, 288). On application by the
Mgr., W. R. Taylor, Bonner Springs, Kan.; Sec. & Treas., E. S. Bigelow: Interstate Ry. Co., I. D. Hook and J. G. L. Harvey were on July 14 1915
Aud., C. H. Read. Office. First Nat. Bank Bldg., Kansas City, Mo.- appointed receivers. On Nov. 28 1916 the Supreme Court at Jefferson
City, Mo.. approved the $3,000,000 appeal bond from the judgment, disV. 102, p. 1625, 2166; V. 104, p. 361. 452.
solved the receivership, assuming Jurisdiction, and set the case for hearing
at the April 1917 term (postponed to Oct. 1917 term.)
KANSAS CITY, MO.
OROANIZATION.-Incorp.in Missouri in 1911 under a 200-year charter. In Jan. 1913 the line from Kansas City to Excelsior Springs, Mo., was
KANSAS CITY RAILWAYS.
on May 5 1913 opened for operation its line between-Kansas
opened,
ORGANIZATION.-Organized under Missouri laws Juno 6 1914 and City andand
St. Joseph. 525 miles. V. 96. p. 1423. Also handles freight.
on Feb. 15 1916 took over the properties of the Metropolitan Street Ry.,
In Dec. 1914 terminal service was begun to Kansas City for the Quincy
Elevated
Ry. and Kansas City & Westport Belt Ry. in ac- Omaha & Kan. City RR.(C. B.& Q.system). See details in V.99. p. 1910.
Kansas City
cordance with the _plan of reorganization of the Kansas City Ry. & Light
Commutation Rates Ordered.-The Missouri P. S. Comm. on Dec.7 1914
Co. in V. 101, P. 614. 689. 1628. Owns and operates entire street rail- issued an order requiring the company to issue commutation tickets beginway system serving Kansas City and Independence, Mo., and Kansas City ning Jan. 1 1915 between Kansas City and Liberty, 14.4 miles, on the Exceland Rosedale, Nan.; population served, over 400,000.
sior Springs Division, and to a distance of about 10 miles on the St. Joseph
Franchise Ordinance. &c.-The exclusive 30-year franchise granted Division. On Dec.29 1914. however, Judge Van Valkenburgh in the U.13.
by Kansas City July 7 1914 fixed the capital value of the property in District Court granted a temporary order preventing the Commission from
plus
capital
$25,648,806,
Missouri at
additions after June 1 1913. (Val- putting the new rates in effect. V. 100, p. 140.
uation placed on properties in Missouri and Kansas as of June 30 1915,
Freight Terminal.-The Kansas City Freight Terminal Co. was incorp.
Including 31,000.000 new money to be provided for forthwith under in Feb. 1917 to provide facilities in the city for handling interurban freight
$33,412,026.)
On
reorganization plan,
this amount the company is to re- and express matter. The co. will be jointly controlled by the Kansas City
ceive 6% cumulative, any balance of earnings, after the application of Clay County & St. Joseph Ry.; the Kansas City Kaw Valley & Western
$6,300,000 of surplus earnings to additions and extensions, to 13e credited Ry.; the Kansas City Western Ry. and the Kansas City Lawrence &
two-thirds to the city and one-third to the company. Not less than
Topeka Ry. These companies have guaranteed an annual tonnage of
of gross earnings must be applied to maint., renewals, deprec'n, &c.,16%
and 31,000 tons. The depot is expected to be completed during 1917. John
not less than 4% to damage claims. Fares (unless reduced at expense
H. Rockwell, Prest.; William S. Tuley, V.-Prest.; Adolph J. Meyer.
of
city's share of surplus income) are fixed at 5 cents for adults and 2% cents Sec. & Treas.
for children between 8 and 12. The city will have the right to purchase the
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
property in Missouri at or before the end of the 30-year period on the basis
corn 310,000,000($1OO)
$4,000,000
See text
of aforesaid valuation and subsequent additions Operation of the proper- Stock
mtge 310,000.000 ($1.-1 1911 5 g M-S
3,135.000 Sept 1 1941
ties to be under the supervision of a Board of Control, consisting of P. J. 1st
red
at
s
f
000
gold
105
after
Tr.
Equitable
Co.,
N.
F.
Downand
J.
Y.
Railways
Co.
and
the
Keely for
Robert J. Woods for the city. City
Sept. 1 1915
c*tf ing. Kan. City, Trus. Int. payable 14. Y.
nominates 5 of the 11 directors. See franchise ordinance in detail in V.also
99.
Bonds.-Of the escrow bonds, 3365,000 may be issued for 80% of the cost
p. 196, and also V. 99. P. 119.
of permanent additions and extensions to the property. The remaining
The company has perfected plans, it was reported in Feb. 1917, for the
can only be issued for 80% of the cost of permanent additions
expenditure in 1917 of $2,251,446 in track extensions and rehabilitation $6,500,000
and
extensions, provided that the net earnings after all operating expenses
will
31,303,146
be
spent
which
on
work, of
way and structures, $594,300 (incl. taxes. insur., deprec'n, &c.) for the preceding
12 months shall have
for equipment and $34,000 for power supply.
been equal to at least 1 2-3 times the annual interest charges on all bond
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity. outstanding, together with those proposed to be issued. Sinking fund of
A-0
Capital stock
1%.7„ of bonds certified, beginning Sept. 1 1917.
See text
See text.
Dividends.-In 1914.2%% paid; 1915,June,1%%. In 1916,4%%•
i 1915 8% J-J
Notes $7,922,000
$7,922,000
1 1918
(Old Colony Trust Co., BostonJuly
EARNINGS.-For years ending Dec. 31 1916. gross. $717,925; net,
trustee.
c*Str*cpt 1915 5 g J-J
1st mtge gold
14,150,200July 7 1944 after taxes, $355,914; int., &c., $157,644; div.. $165.000; surplus, $33,270.
2d M ($5,291,000) Sores Al 1915 6 J-J
4,291,000 July 7 1944 In 1915, gross, $643.238; net, after taxes. $291.916; hit.. $153,950; divs.
Series B- 1915 5 J-J
do
do
•
1,000,000 July 7 1944 paid, $55,000; surplus. $82,966.
Redeemable at 103 and int. New York Trust Co., N. Y.. trustee.
ROAD -Operates 52.55 miles between Kansas City and St. Joseph:
securities.1915
See
text
Special deferred
abt. 650.000 July 7 1944
miles
and
between
28.24
Kansas
City and Excelsior Springs, Mo..
Stock.-The capital stock,fully paid up,is in the nominal sum of $100,000 total
Mo.. 77.61 miles. 70 and 80-1b. T-rail; standard gauge. Passenger
and is represented by 62,716.7 preferred and 63,620.5 common parts of no equipment,
exp.
20
motor
cars,
cars,
5
5
express trailers, 11 other cars and
are
stock
par value. Trustees for the
Robert J. Dunham and Charles W.
ditcher.
Armour. It is provided that whenever a corporation can be lawfully 1 American electric
OFFICERS.-Pres., Philip L. Saltonstall, Boston, Mass.; V.-P.. Thos.
formed with pref. and corn. shares of no specified-par value, with authority
to take over the stock of another corporation as its assets, the trustees shall A. Reynolds, N. Y.* Sec.. I. D. Hook; Treas., W. S. Tuley; Gen. Mgr..
' City, Mo.-V. 103,P. 2155; V. 104. p. 1702.
cause ono to be organized and shall turn over to it the stock in their custody, J. R. Harrigan, Kansas
the beneficial certificates to be canceled and replaced by pref. and corn. shs.
Notes.-The 3-year notes are secured by 38,714,200 1st M. bonds.
KANSAS CITY-WESTERN RAILWAY.-A trolley road.
.
First Mortgage Bonds.-Of the 1st M. bonds outstanding, $10,150,200
Formerly the Kansas-City-Leavenworth Railroad and name changed to
were issued under plan in retirement of securities of predecessor cos., and
$4,000,000 to provide for receiver's certfs., cash requirements of reorgani- Kansas City-Western Ry. Has long-time franchises in territory served.
zation and $500,000 for impts. $8,714,200 bonds are pledged as security
Freight Terminal.-See K. C., Clay County & St. Joseph Ry. above.
for the 3-year notes. Additional bonds may be issued for new construcSTOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
tion, additions, extensions, &c.(in Mo.only on certificate of Board of Con- Stock 32,000,000 (3100)
trol), in the ratio of $1,000 of bonds for each $1.100 expended, except ap- let ref mtge $5,000,000 gold{ 1905 5 g M-S $2.000,000
1,650,000 Sept 1 1925
prox. $500,000 bonds may be issued par for apr. Denominations: e*
(coup $1,000, r 31,000, Interest at Guaranty Trust Co. New York.
$1,000, $500,$100: r*, $1,000,$5,000 and $10.000. Int. payable in N. Y.,
15,000, 310,000)
Trustee.
tf




[VoL. 104.

ELECTRIC RAILWAYS

54

Stock told Bonds.-$1,400,000 of bonds were issued to refund a like amount
of bonds outstanding of old company, all but $42,000 of which have been
retired, $100,000 for general corporate purposes and $150,000 for improvements; remaining $3,350,000 to be issued for acquisitions, extensions and
improvements under customary restrictions. Entire outstanding issue is
red. on any int. date at 105 and int. V. 89, p. 1483.
REPORT.-For year enclitic Juno 30 1916, net, after taxes, $55,620; int.
on bonds, &c., $82,712; deficit, $27,092.
ROAD.-Owns and operates 43.75 miles of road, of which about 18 miles
4 miles between Ft. Leavene,orth
are within the city of Leavenworth and 253
and Kansas City, Kan. Enters Kansas City. Mo.,over tracks of the Kansas
City Viaduct & Terminal Ry., which owns and operates a steel and concrete viaduct connecting Kansas City, Nan., with Kansas City, Mo. Has
secend entrance into Kansas City over tracks of the Metropolitan Street Ry.
OFFICERS.-0.F. Holmes, Pres.; 0. F. Hutchings, V.-P. and Gen. Attorney; S. D. Hutchings. See. and Treas.; J. G. Hereon. Supt.; W.M.
Boner, Aud. General office, Leavenworth, Kan.-V. 90, p. 110, 368.
MISSOURI & KANSAS INTERURB. RY.-Known as "Strang Lino."
ORGANIZATION.-Incorporated in Kansas under Gen. RR. law. In
1909 receiver appointed the previous year was discharged, and old company
resumed control. V. 86, p. 1467; V. 89, p. 1281. Motive power changed
from Strang gasoline cars to electricity in 1908. V.87, p. 614. Has private
right of way about 80 feet wide from Kansas City to Olathe.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,000,000
Stock $1,000,000 ($100)
5 g J-J
First mortgage $600,000 gold' 1906
600,000 Jan 1 1956
cf Fidelity Trust Co., Kansas City, Trustee.
($1.000)
EARNINGS.-For cal. year 1916, gross, $115,049; net, $37,745. In
1916, gross, $103,129; net, $38,721.
ROAD.-Operates 20 miles of road from Kansas City through Southridge, Morrison Ridge, Milburn Place, Overland Park and Lenexa to Olathe.
Enters Kansas City over tracks of the Metropolitan Street Ry. 70-1b. rails.
Has 13 cars, including passenger and freight. Construction of a line from
Olathe to Ottawa, 26 miles, is under consideration.
OFFICERS.-Pres., W. B. Strang; V.-P., H. C. Brent; Sec. & Treas..
E. N. Daniels; Gen. Mgr., Thos. Riley. General offices, Overland Park,
Kansas.-V. 87. p. 614; V. 89. D. 1281.

KENNETT, PA.
WEST CHESTER KENNETT & WILMINGTON ELECTRIC RY.
ORGANIZATION.-Incorporated in Pennsylvania on May 24 1905,
and is a reorganization of a company of the same name sold under foreclosure
In April 1905. On Feb. 26 1908 absorbed the formerly controlled Oxford
West Grove & Avondale St. Ry See V. 86, P. 670.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$525,000
Common $925,000
75,000
Pref ($75,000) 6% non-cum
420,000 June 1 1935
5 g J-D
First mtge $1,000,000 gold' 1905
($500 and $1,000)____c tffInt. at Integ. T.I.Tr.& S.D. Co.,Phila.. Tr.
EARNINGS.-For year ending Dec. 311916, gross, $67,051; net, after
taxes, $18,910.
ROAD.-About 20 miles of track between West Grove, Avondale, Kennett Square and Wilmington, connecting at Kennett for West Chester.
The extension from Avondale to Oxford, 12% miles, has been completed as
far as West Grove and is in operation to that point. Gauge, 5 ft. 2A in.
60 and 70lb. T and girder rail.
OFFICERS.-Pres., Geo. Kessler, Phila.; V.-P., Clarence L. Harper,
Phila.; Sec. and Treas., Philip E. Guckes, Phila.; Gen. Mgr., H. Baiuss,
Kennett Square,Pa.-V.91. p. 1575, 1631, 1712; V.94. p.831; V.95, p. 177.

KEOKUK, IA.
CENTRAL MISSISSIPPI VALLEY ELECTRIC PROPERTIES.
ORGANIZATION.-Formed in Illinois by a trust agreement dated
Dec. 12 1913, under which there are deposited with trustees all tho common
stock of the Keokuk Electric Co. (see below) and all the capital stocks of
Fort Madison Elec. Co. and Dallas City Light Co. These companies do
the electric railway, electric lighting, power and gas business in Keokuk.
Ia.. the electric lighting and power business in Fort Madison, Ia., and
Dallas City. Ill., the electric railway and lighting business in Hamilton
and Warsaw, Ill., and operate an interburban electric railway between
Keokuk, Hamilton and Warsaw.
Franchises.-The electric railway and elec. lighting franchises in Keokuk
expire in 1938, the gas franchise in 1928. The electric lighting franchise
in Hamilton expires in 1936; the important railway franchise in 1931.
The electric lighting franchises in Fort Madison and Dallas City expire
In 1938.
Stock, auth. and outstanding: Common, 7,500 shares (no par value);
6% cum. pref. stock (par $100-rod. at 110), $750,000. No -bonds.
EARNINGS.-For years ending Dec. 31 (combined companies):
Surplus.
Gross. Net(aft.Tax). Interest. Sink Fund.
$73,072
$18,827
$294,893
$5,000
$96,899
1916
7,455
5,000
72,210
282,177
94,665
1915
Dividends.-An initial dividend of 134% was paid on the prof. stock in
March 1914; same rate quar. since to and incl. June 1917.
ROAD.-Miles of equivalent single track, 8.19; trackage, 6.14; standard
guage; cars, 20 passenger and 1 other. All power is purchased from the
Mississippi River Power Co.
OFFICERS.-Pres., Geo. Higginson, Jr.; V.-P., Harry T. Edgar; Sec.,
OFFICERS.-Pres.
Ill.; Treas., II. B. Sawyer; Asst. Sec., Alvah
Joseph L. Valentine,
K. Todd; Gen. Mgrs., Stone & Webster Mgt. Assn.-V. 98, p. 72, 610.
(1) Keokuk Electric Co.
ORGANIZATION.-Incorp. In Ill. on Dec. 5 1911 as successor to the
Keokuk Elec. Ry. & Pow. Co.; Keokuk Gas & Elec. Co.; Hamilton Lt.
& Power Co. an•I ICeolcuk & Western Elec. Co.. control of which was
purchased in 1911 by Stone & Webster Mgt. Assn. Does the electric railway, electric lighting, power and gas business in Keok-uk, Ia.; the electric
railway and electric lighting business in Hamilton and Warsaw, Ill., and
operates an interurban electric railway between Keokuk, Hamilton and
Warsaw (largely on leased lines).
Interest. Outstanding. • Maturity.
STOCK AND BONDS- Date.
$650,000
Q-F
Common $650,000 ($100)---16.114
250.000 May'17, 114
Q-F
Pref $250,000($100)6% cum_ ____
5 J-J
170,000 'See text
Keokuk El Ry & Pow 1st MI 1901
ntf fCent. Trust Co. and H E.Ambler, Trustees.
(closed mtge)
5 J-J 15
Keokuk Gas L & Coke 1st Ml 1898
150.000 Jan 15 1918
tff St. Louis Un. Trust Co., St. Louis, Trustee.
(closed mtge)
Stock.-Common stock is all owned by Cent. Miss. Vali. Elec. Properties.
Pref. stock is red. at 110.
Bonds.-The Keokuk Elec. R.& Power first mtge. 5s are due serially
1917 to 1925. Red. any int. day at 105 and int. $80,000 canceled.
Dividends.-Divs. on pref. have been paid since organization. Initial
div.on com.-2%-paid in Feb. 1914; May,1)%;Aug..2% (V.99,p.467);
Nov., 2%. In 1915 and 1916. 6%.
EARNINGS.-For years ending Dec. 31:
Gross. Net(aft.Tax.) Interest. Sink.Fund. Surplus.
Year$5,000
$79,326
$55,701
$18,625
$240,181
1914
232,593
5,000
81,437
59,037
17,400
1915
ROAD, &c.-See Central Miss. Valley El. Properties above.
OFFICERS.-Pros., Harry T. Edgar; V.-P., Geo. Higginson Jr.; Sec..
Alvah K. Todd; Treas., Henry B. Sawyer; Gen. Mgrs., Stone & Webster
Mgt.Assn.-V.93, p. 1725; V.97, p. 1583. 1898; V.98, p. 73; V.99, p. 467.

KEWANEE, ILL.
GALESBURG & CEWANEE ELECTRIC RY.
ORGANIZATION.-Incorporated May 1902. Is a reorganization of
the Galesburg & Oneida Elec. Ry. Co.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$200.000
Common $200,000 ($100)
110.800
Pref $400,000($100)6% cum_
400,000 July 2 1926
First mtge $400,000 ($500 &( 1906
5g
c&rfInt.atCont.&Com.Tr.& Sav.Bk..10hic.,Tr.
$1.000) gold
Bonds.-Are red. on any int. day at par and int. No s. f.
EARNINGS.-For 12 mos. ending Dec. 31 1916, gross, $76,114; net
(after depreciation, $12,000), $15,243; int, and taxes, $24,836; deficit,




$9,593. In 1915, gross, $66,780; net (after deprec., 312,000 and taxes,
$3,910), $8,587.
ROAD.-Has city line in Kewanee and Wethersfield and interurban
between Kewanee and Galva. Total track operated 14 miles. 70-80-1b.
T and girder rails. Gauge 4 ft. 834 in.
OFFICERS.-Pres., W. H. Lyman; V.-P., H. W. Crane; Sec., P. M.
Lay; Treas., J. H. Baethke; Gen. Mgr., R. H. Hayward.

•

KEYPORT, N. J.

JERSEY CENTRAL TRACTION CO.-Trolley.
New Control.-The United National Utilities Co., which see under Philadelphia, Pa., has arranged to acquire all the common stock, with the approval of the Bd. of P. U. Commissioners of N. J. V. 101, p. 1702. On
Feb. 1 1917 the Central Jersey Trac. Co. was incorp. in N.J. with an auth.
capital stock of $900,000, apparently as successor co.
ORGANIZATION.-Chartered Mar. 28 1891, in N. J., as the Keyport
& Matawan Street fly.; a horse line, but has been operated as an electric
railway since July 1901, and name changed as above in Nov. 1901. Company owns franchises for the carrying of freight and transports brick.
gravel. &c.. for local industries.
Company also owns 412 of the 500 shares of stock and all of the bonds
($100,000) of the Middlesex & Monmouth Electric Light, Heat & Power
Co., which supplies both city lighting and private power and lighting in
South Amboy, Keyport, Matawan, Keansburg, Belford and other towns.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,500,000
Stock $1,500,000 ($100)
230,000 Nov1 1931
5g M N
1st mortgage $750,000 gold 1901
($500 an $1.000)
tf Int. at Colonial Trust Co., Phila., Trustee.
1,270,000 Dec 1 1954
5 g J-D
Gen & ref mtge $1,500.000 1904
c*.tf Int. at Fidelity Trust Co., Newark, Trustee.
gold ($1,000)
None Mch. 1 1939
5 g M-S
1914
Gen & ref. impt & extmtge
$5,000.000 ($1,000) ___c* Int. at Girard Trust Co., Phila., Trustee.
Bonds.-Of the $1,500,000 onds of 1904,8230,000 are reserved to retire
the first 55. The bonds of 1914 are redeemable March 1 1917 or any interest
date at 10214. $1,500,000 bonds are reserved to retire prior liens. Some
$340,000 of these bonds have been issued for various corporate purposes
of the company but so far none sold to public. V. 99, p. 269; V. 98, p. 1694.
REPORT.-For calendar year 1916 (incl. Middlesex & Monmouth El.
Lt., lit. & Pow. Co.), gross, $347,138; net, after taxes, $144,834; int., &c.,
$98,819; surplus, $46,014.
ROAD.-Owns and operates 36.03 miles of road from South Amboy,
Keyport and Belford to Red Bank; Belford through Atlantic Highlands to
Highland Beach; Freneau through Matawan to Keyport, N. J. Standard
gauge 60-1b. T and 70-1b. girder rails. Nearly all over private right of way.
32 passenger cars, 29 freight cars and 1 snow-plow. An extension from
South Amboy through Mechanicsville and over the Raritan River Bridge
to Perth Amboy was completed in 1910.-V. 104, p. 452, 1702.

KEY WEST, FLA.
KEY WEST ELECTRIC CO.-A trolley road.
ORGANIZATION.-Incorporated in New Jersey in 1898 and does entire
electric railway and electric-light and power business of the city; also owns
franchises for manufacture of gas. Franchise expires 1997. In Juno 1906
was acquired by Stone & Webster of Boston and re-capitalized as below.
V. 82, p. 1496. Public Service Investment Co. owns $374,100 common
stock and $222,000 preferred stock.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$500,000
Common $500,000 ($100)270,000
Q-M
Prof $350,000($100)6% cum_ ____
478.000 Aug 1 1056
5 g F-A
First mortgage 81,000,0001. 1908
gold
tf(Int. at State Street Trust Co.. Boston. Tr.
Pref. Stock.-Remaining $80,000 pref. stock is held in trust for the benefit
of the company. Redeemable at 110.
Bonds.-Are subj. to call as a whole or in part for s. f. at 105 and int. at
any time. A sink, fund of 1% of bonds out began Dec. 11907, if earned;
on Dec. 1 1912 became obligatory. $83.000 in treasury not incl. in outstanding amount. $32,000 canceled.
EARNINGS.-For years ending Dec. 31:
Net(aft.Tax.) Interest. Sink. Fund.Surplus.
Gross.
Year$8,606
$5,664
$24,555
$38,825
$116,372
1916
206
24,859
112,840
30,800
5,735
1915
ROAD.-Operates 5.41 miles of track; 10 cars. Gauge 5 ft. 234 in.
Power station capacity, 840 k.w.
OFFWERS.-Pres., George J. Baldwin, Now York; V.-Ps., Henry G.
Bradlee and Harry H. Hunt; Sec., Alvah IC. Todd; Treas., Henry B.
Sawyer; Mgr., R. G.Carroll, Key West, Fla.; Gen. Mgrs.,Stone & Webster
Mgt. Assn., Boston.-V.82, p. 1496; V. 94, p. 1508.

KINGSTON, N. Y.
KINGSTON CONSOLIDATED RR.
ORGANIZATION.-This Is a consolidation on Dec. 11 1901 of the Kingston City RR, and the Colonial City Traction.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
$200,000
Common $200,000 ($100)
200,000 Aug.'16,3%
Preferred 4% cum $200,000_
532,000 Oct 9 1951
5 g J-J
First consolidated mortgage' 1901
$700,000 (31,000) gold c*ttSInt. at Bankers Trust Co. N. Y., Trustee.
None Jan 1 1039
5 J4
Second mortgage 3250.000). 1909
Int. at Bankers Trust Co., N. Y., Trustee.
($1,000)
Kingston City 1111.149,000 Mar 1 1923
5 M-S
Consol $150,000 ($1,000) not' 1893
subj to call before mat'y_tf fInt. at Farmers' Loan & Trust Co., N. Y.
5 quar.
6.000 On demand.
Mortgage on car barn _
Bonds.-$156.000 of the 8700.000 consolidated mortgage is reserved to retire thelangston City RR. underlying liens; $12.000 have been canceled.
Dividends.-4% was paid yearly on prof. stock from consolidation up to
1908, when 2% was paid Aug. 1. None to Jan. 1 1911, when 4% was paid.
Nona up to Sept. 11914. when 3% was paid. In April 1915 paid 3%,and
In Aug. 1Q15 6%. In Aug. 1916 paid 3%•
ROAD.-Embraces 8 miles of track. Rails, 70. 80 and 90-1b. 40 cars
2 snow plows.
REPORT.-For year ending Dec. 311916,gross, $146,035; net, $56,462;
int., taxes, &c., $45,669; dividends, $6,000; surplus, 84,793.
OFFIOERS.-Pres., Fred. T. Ley. Springfield, Mass.; V.-P., Hency C.
Page, Worcester. Mass.; Sec.. G. B. to Bow, Kingston; Treas.. Abm.
Hasbrouck, New York.-V.89, p. 225, 529; V. 90, p. 303.

KNOXVILLE, TENN.
KNOXVILLE RAILWAY & LIGHT CO.
Controlled by American Cities Co.(see under New Orleans), which owns
all the stock.
ORGANIZATION.-Incorporated in Tennessee on Aug. 5 1905 as a consolidation of the Knoxville Traction Co. and the Knoxville Electric Light &
Power Co. Does all the street railway and all municipal and commercial
electric-lighting and power business in Knoxville and serves various nearby
communities. Also controls the Knoxville Park Association, owning two
amusement parks. Franchises are perpetual, except as to 134 miles of
street railway, which latter run until Nov. 28 1946.
In 1911 51,500.000 corn. and $500,000 pref. stock was all made one class
and increased to $2,050,000.
Has favorable long-term contract with Tennessee Power Co. for the purchase of electric power.
In Dec. 1916 issued $1,556,000 ref. and ext. M. 5s, proceeds being used
to retire $325.000 2-year 6% coll. notes duo July 1 1017 (paid off Jan. 3
1917 at 10034) and $1,093,000 consol. M. 5s duo Sept. 1 1945, which were
called for payment on March 1 1917.at 10734. V. 103, p. 2238.
Interest, Outstanding. Maturity.
STOOK AND BONDS- Date.
$2,050,000
See text
J-D
Stock $2,050,000 ($100)__
3,334,000 June 1 1946
5 J-D
Ref & ext mtge 310,000,66o loll
($500 and $1,000)_c*cpt Int. at Guaranty Trust Co. N. Y., Trustee.
817,000 April 11038
5 g A-0
Knoxville Trac 1st M $850,- 1893
000 g tax-free ($1.000)_ _c* Int. at Baltimore Trust Co., Bali,. Trustee.
Bonds.-Of the ref. & ext. mtge. $817,000 are reserved for Knoxville
Traction 1st 5s and $5,849,000 are reserved for 80% of cost of extens.,

MAY, 1917.]

ELECTRIC RAILWAYS

add'ns. impts., &c., under conservative restrictions. Bonds are red, as a.
whole, but not in part, at 105 and int. on 60 days' notice, or may be purchased in open market at a price to net not less than 4X %. Annual sinking fund began Oct. 1 1915, equal to X of 1% of total amount of bonds out.
$6,000 in sink. fund Jan. 11917. Penn. State tax refunded. The Knoxville Traction Co. first mortgage bonds are not subject to call. $33,000
have been canceled.
Dividends.-First dividend on common-2%-June 29 1907, 1% was
paid Sept. 1907 and, 1% Dec.1907; in 1908. 4%;in 1909, 7%;in 1910,8%;
In 1911, 10%. Then stock all made one class and in June 1912 paid 3X %:
Dec., 33%. In 1913, 73%. In 1914, 4%. Stock all owned by American Cities Co. and dividends no longer made public.
Gross
Net (after
EARNINGS.Interest, Surplus for
Earnings.
Renew., c.
c*.c,
Cal. YearTaxes).
$997,684
$431,254
$217,019
$214.235
1916
939,451
349,520
1915
139,883
209,637
ROAD.-On Dec. 31 1916 owned 54.723 m. of track incl. 13.317 miles
of double track' standard gauge; 70-1b. and over T and girder rail. Has 64
open cars, 82 closed and 14 work cars; total, 160. Power station (held in
reserve) has 6,800 k. w. capacity.
OFFICERS.-Pres. & Gen. Mgr., C. H. Harvey; V.-P., W.S. Shields;
Sec. & Treas., C. J. Pleming; Asst. Sec., J. A. McKenna; Asst. Treas.,
H. J. Pritchard; Aud., C. A. Briggs.-V. 102, p. 1163; V. 103, p. 2238.

KOKOMO, IND.

INDIANA RAILWAYS & LIGI-IT CO.
ORGANIZATION.-Incorp. In Indiana on Dec. 7 1912 as a consolidation of the Kokomo Marion & Western Trac. Co., Kokomo Frankfort &
Western TrAction Co. and Kokomo Public Utility Co. Acquired the Galveston Light & Power Co. as of May 31 1916 and issued $10,000 pref. stock
to pay for same. Carries on an interurban and street railway business and
furnishes electric light and power in Kokomo and 22 smaller towns and
villages; also steam heat in Kokomo. Street railway franchises extend to
1953; electric lighting, power and steam-heating franchises are limited to
25 years (subject to renewal) and extend to 1932 or beyond.
STOOK AND BONDS- Date.
Interest, Outstanding. , Maturity.
Common $2,000,000 100)- ---Q-F
$2,000,000 May'17,1%
Pref cum $1,000.000 $100)_ - ---6 Q-M
385,000 See text
1st & ref M sk fd $5,000,000)1912 5 g J-J
1,180,000 Jan 1 1943
($500 and $1,000) g c*_tt Union Trust Co. of Indianapolis, Trustee.
Kok Mar & W 1st M $1,000,- 1903
5 g J-J
650,000 July 1 1933
000 g ($500 & $1,000)c*ntf Interest at Security Tr. Co., Ind., Trustee.
Stock.-Preferred stock is non-voting. Subj. to call at 105.
Bonds.-Of the 1st & ref. bonds,$650.000 are reserved to retire the K. M.
& W. bonds, $50,000 for corporate purposes and $3,120,000 for additions,
betterments, &c., under certain restrictions. Red. on any int. date at 105.
Sk.fd. 1% began Jan. 1 1917. In lieu of retirement of bonds, company
may at its option set aside annually for perm. add'ns, impts. & extensions,
at not exceeding 80% of cost thereof, a sum equivalent to 13(% of total
amount of refund. bonds out. Int. payable at Spencer Trask & Co., N. Y.
V. 95, p. 1684. K. M.& W. 1st M. bonds are subj, to call at 105 and int.
See V.76. p. 1143; V. 77, p. 451.
-67 is being paid on the pref. stock. On common, 1% s.-a.
to Dividends.
Aug. 1915
when 1m % was paid. In Feb. 1916, ni%; Aug., 2%;
Nov., 1%. in 1917. Feb., 1%; May, 1%•
EARNINGS.-For year end. Dec. 311916, gross, $544,468; net, after
taxes, $328,410; other income,$2,962; int., taxes, deprec'n, pref. div., &c.,
$163,159; surplus for common, $166,213. In 1915, gross, $463,099; net,
$273,632; other income. $2,620; int., taxes, deprec'n, pref. div., &c.,$159,223; surplus, $117,029.
ROAD.-Operates 53 miles of interurban electric railroad from Marion
through Kokomo to Frankfort and 9 miles of street railway in Kokomo.
Is connecting link between the Terre Haute Ind. & East. Trac. Co. and the
Union Traction Co. of Indiana. Standard gauge, 70-1b. T rail. On Dec.
311918 had 7,123 light and power and 143 heat consumers.
OFFICIERS.-Pres., Geo. J. Marott; V.-P., L. J. Kirkpatrick; Treas.,
A. R. Holliday; Aud. & Asst. Sec., Karl A. George; Gen. Supt. & Asst.
Treas., P. H. Palmer.-V.95, p. 1684; V. 96, P. 486.

LACONIA, N. H.

LACONIA STREET RAILWAY.
In Nov. 1906 control changed hands, and the new interests also acquired
control of the Laconia Electric Lighting Co.
ORGANIZATION.-Formerly the Laconia & Lakeport Street By., but
name changed to above in 1894.
STOOK,&c.Date.
Interest. Outstanding. Maturity.
Common $100,000 (par $50)-$100,000
Pref6% cum $40,000($100)-40,000
First mortgage $91,000 $1,.l 1899 5 M-N
91,000 May 1 1919
000)
Jlnterest at American Trust Co., Boston.
Second mortgage $4O,000t 1904 5 M-N
40,000 May 1 1919
($1,000)
Interest at People's Nationar Bank, Laconia.
Dividends.-In 1893-94 paid 5%; in 1894-95
paid 4%; none since.
ROAD.-Owns 8.87 miles of track from Laconia to Weirs. Standard
gauge. 11 passenger and 2 other cars.
EARNINGS.-For year ending June 30 1916, gross, $5,485; net (after
taxes), $3,564. In 1915, gross, ;36,401;
net, $5,959; interest and taxes.
$9,320; deficit, $3,361.•

LA CROSSE, WIS.

WISCONSIN RAILWAY. LIC11-1T & POWER CO.
ORGANIZATION.-Incorp. in Wisconsin
on Jan. 16 1913 and has acquired and now owns in fee all the property formerly belonging to the La
Crosse Water Power Co., the La Crosse City Ry. and the Winona (Minn.)
By. & Lt. Co. Does electric-light and power business In Winona, Minn.,
and Onalaska, Wis., and operates street railways in Winona and La Crosse.
Owns hydro-electric plant at Hatfield, Wis., with transmission lines to La
Crosse and Winona, at which cities it also has steam reserve plants.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common $1,230,000
$1.230,000
First & ref M $10,000,000 1913 5 F-A
2,225,000 Feb 1 1933
c*tf First Trust Co.. Milw.,
($1,000) gold
Trustee.
La Crosse City Ry 1st M 1909 5 g j-j
220,000 July 1 1929
($1,000)_-_c
Int. at Wisconsin Tr. Co. Milw., Trustee.
(closed mtge)
Stock.-Entire stock placed in escrow for 5 years under a voting trust
agreement for the establishment of a definite management and control of
property, the voting trustees consisting of Fred. Vogel Jr., Prank 0. Wet-.
more, F. B. Lifson, H. L. Stuart and Clement 0. Smith.
Bonds.-Of the $2,225,000 1st & ref. bonds outstanding, $825,000 have
been deposited with trustees by owners, under an agreement which provides
that, while so in escrow, they shall be subordinate and junior in every
respect to $1,400.000 bonds sold to the banks. Such escrow bonds can be
released from escrow only in lots of $50,000 or multiples thereof, under
certain restrictions. The mtge. provides that $2,225,000 may be issued at
par for corporate purposes of the company. Bonds in addition to the
$2,225,000 may be issued as follows: $220,000 to retire La Crosse City
bonds and $75,000 to retire a like amount of bonds which may be issued for
certain additional property; remaining bonds are Lssuable at par (a) to
redeem at par any underlying bonds or any mtge. debt existing against
any property acquired, not exceeding, however, at par, the reasonable
value of such property; and (6) for not exceeding 75% of cost of any additional property, with certain restrictions. Bonds red. on any int. date at
105 and int. Sinking fund, 2% per annum, beginning 1918. Int, payable
at office of trustee, or at office of company or at its New York agency.
RARNINGS.-For year ending Dec. 31 1916, gross, $423,999; net,after
taxes, $169,900; int. on $1,400,000 first security bonds and $220,000 underlying bonds, $79,988; int. on $800,000 temporarily second security bonds.
$40.000; misc. int.. $1.143, surplus, $48,769.
ROAD,-_24 miles of track.
OFFICERS.-Pres., Clement 0. Smith; V.-Ps., Henry L. Rice and
Peter Vatter; Sec.-Tr ., Howard Greene; Asst. Sec. & Asst. Treas.,
Theodore F. Kaap, all of Milwaukee. Operations are driected from President's office in Milwaukee in connection with the operations of the Wisconsin Public Service Co. and other public utility properties. V. 98, p. 692;
V. 99, P. 1750, 1830.
WISCONSIN MINNESOTA LIGHT & POWER CO.
Common stock all owned and properties managed by American Public
Utilities Co.




55

ORGANIZATION.-Incorp. in Wisconsin. Dec. 2 1901 as the La Crosse
Gas & Elec. Co.(successor to the La Crosse Gas Light Co.. the LaCrosse
Brush El. Lt. & Pow. Co. and the Edison Lt. & Pow. Co.) On June 24
1914 changed name to Wisconsin Minnesota Light & Power Co. and increased its auth. stock from $900.000 to $10,000,000 and merged the
Chippewa Valley Ry. Lt. & Power Co. (incorp. In Wis. In 1898) and the
Chippewa Valley Construction Co. In 1914 acquired the property of the
Winona Gas Light & Coke Co., Red Wing Gas Light & Power Co.. Minnesota-Wisconsin Power Co., Eau Claire Gas Light Co. and Neillsville Electric Co. V. 99, p. 1758. Owns and operates electric light and power,
street and interurban railway, gas, domestic water, and hot water heating
properties in Eau Claire, La Crosse, Chippewa Falls and Menominee, Wis..
and Winona, Wabasha, Lake City, Twin Cities and Red Wing, Minn.
Operates under an indeterminate permit granted by the Wisconsin Railroad
Comm. and is protected against competition by any other public utility
doing a similar business.
Has contract with Northern States Power Co. to supply it with electric
energy for 30 years beginning with 1917.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common, $5.000,000
$2,500,000
Pref..$5,000,000(7% cum.)3,610,500 Maz"17, 1X
Q-S1
5 g M-N 7,113,500 May 1 1944
1st & ref M.$20,000,000 gold fol.4
($500&$1,000)c*($1,000)r*
Int. payable in N. Y. or Chicago.
•
red aft May 1'19®1058rint Harris Trust & Say. Bank,Chicago; Trustee,
Albert W. Harris Co., Trustee.
.
Chinn V By L & Pow 1st Mt 1907 5 g J-J
525,000 July 1 1924
(closed)$2,000,000($1,000)gfInt. at Harris Tr.& Says. Bk., Chic.,Trustee
Eau Claire Gas Light Co _
220,500
Winona Gas Light & Coke Co_
300,000
Red Wing Gas Light & P. Co_
250,000
Stock.-Pref. stock is pref. as to assets and dividends. The pref. stock
may elect a majority of the directors whenever four consecutive quarterly
dividends remain unpaid or the property is shown to be inefficiently managed or depleted. See V. 99, p. M.
Bonds.-Ofthe 1st & ref. bonds of 1914.$525,000 are reserved to retire the
Chippewa Valley Ry., Lt..is Pow. bonds. Escrow bonds can be issued to retire prior liens and for 75% of cost of ext. and add'ns (provided $250.1000 is
expended for ext.. &c., without the issue of bonds), but only as regards the
first $2,750.000 bonds, in case the annual net earnings are 134 times the
total int. charge, incl. bonds applied for: balance may be issued when net
Is 1% times int. charge. V. 08, p. 1995. Sinking fund payable on the
basis of the following percentages of the bonds outstanding, including underlying bonds: 1% yearly 1919 to 1928, 134% 1929 to 1938, and 2% 1939 to
1943; either to retire bonds or for extensions and additions.
Dividends.-Initial div. on pref. stock of 1(% paid Sept. 1 1914; same
rate quar. since to and incl. March 1917.
EARNINGS.Gross
Net (after
Bond
Preferred Balance,
Cal. YearEarnings. Taxes, &c.) Interest. Dividends. Surplus.
1916
$1,304,460 '$698,150 $242,801 $222,005 $233,344
1,143,262
585,016
Not stated1915
ROAD, PROPERTY, &O.-Owns and operates 25 miles of electric
railway, incl. Interurban line on private right-of-way between Eau Claire
and Chippewa Falls and local lines in those cities. Present rated capacity of
company s hydro-electric and steam plants approximates 21,000 h. p.
Ultimate development, 100,000 h. p. Owns over 300 miles of high-tension
transmission lines and has more than 100 miles under construction. Also
owns and operates gas properties in La Crosse, comprising 5534 miles of
mains.
OFFICERS.-Pres., Jos. H. Brewer; V.-Ps., W. B. Parsons and A. E.
Peirce; Treas., C. A. Boalt; Sec., Blaine Gavett; Asst. Sec.-Treas., W. J.
Ripley.-V.101, p. 775; V. 102,P. 1898; V. 103. p. 1594; V. 104. p. 766.

LAKE CHARLES, LA.
LAKE CHARLES RAILWAY. LIGHT & WATER WORKS CO.
ORGANIZATION.-Incorporated in Louisiana in 1909. In June 1909
the company acquired the Lake Charles Street By.Co., operating an electric
railway in Lake Charles and Lake Charles Ice, Light & Water Works Co.,
which operates an ice plant, electric-light and power department and
water system.
Franchises expire- street-railway, 1941; electric light and power, 1926;
water-works. 1916, self-renewing every 5 years thereafter unless city buys
plant.
AND BONDS- Date.
SCK
TO
Interest. Outstanding. Maturity.
Stock $200.000_
$200,000
First mortgage $500,000 gold J 1909 6 g F-A
See text.
195,000
c*LInter-State Tr.& Bkg. Co., New On., True.
(46500 and $1,000)
Bonds.-Remaining bonds are for improvements and extensions on basis
of ill in bonds for each 51 33 of improvements,&c. Bonds mature $15,000
semi-ann. from Aug. 1 1912 to Feb. 1 1922, both incl.; redeemable on any
int. day on 30 days' notice. Int,is payable at office of trustee or at Chicago
Savings Bank & Trust Co., Chicago. $105,000 has been retired.
EARNINGS.-For cal. year 1916, gross. $208.189. In 1914. grew.
$247,965. In 1913. gross, $231.444.
ROAD.-Consists of9 miles of track. 60-lb. rails.
OFFICERS.-Pres..J. A.Landry; Sec.,P.O.Moss.-V.89.p.919.

LANCASTER, PA.
LANCASTER COUNTY RAILWAY & LIGHT.
Controlled by the United Gas & Elec. Corp.-See under New York.
ORGANIZATION.-Incorporated on June 15 1901 in New Jersey. Owns
and controls the following railway, gas and electric properties, whose stocks
are placed under the mortgage of 1901:
Conestoga Traction Co.,
'Edison Electric Co.
Lane. Gas Light & Fuel Co.
Also controls the Conestoga Realty Co.
Franchises are perpetual. Does all the gas and electric lighting in cities
of Lancaster and Columbia, and practically all in Lancaster County.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Stock com $1,500,000($50)___
Q-M
$1,500,000 Mar'17.334
Pref $1,000,000 ($50) 5% cum ____
1,000,000 Mar'17. I X
Q-M
Mtge $1,000,000 gold ($5001 1901
5 g J-J
1,000,000 July 1 1951
c*ntf___IInterest at Lancaster Trust Co.. Trustee.
and $LOW)
ControlledSecurities of Lines
Conest Trae lstM $2,000,000 1900 4 J-J
1,277,500 Jan 1 1950
($100. 3500&31,000)__c*tf Int. at Prov. Life & Tr. Co., Phila., Trustee.
Lancaster City RR 1st mtge 1890 5 g A-0
160,000 Apr 1 1920
c*tf Int. at Metropolitan Tr. Co., N. Y.,Trustee.
($100 and $500)
W E St Ry 1st M $225,000 1891
225,000 May 1 1921
5 M-N
c*tf Int. at Metropolitan Tr.Co., N.Y.,Trustee.
($100 and $500)
Lancas Trac 1st M ($100. 1893 5 A-0
225,000 Apr 1 1923
c*tf Int. at Lancaster Trust Co., Lane., Trustee.
$500 and id LOW)
Lanc G L Sr F 1st M $300.000 1895 5 J-J
300,000 Jan 1 1925
cntf hit. at Lancaster Trust Co., Lane., Trustee.
($1,000)
Second mortgage $400,000 1906 5 J-J
100.000 Jan 1 1936
($1,000)
c*tf Int. at Lancaster Trust Co., Lane., Trustee.
Third mtge $100,000 gold 1911
J-J
100.000 Jan 1 1936
c*tf Int. at Lancaster Trust Co., Lane., trustee.
($1,000)
Columbia Gas Co 1st mtge 1911 5 J-J
75,000 Jan 1 1941
$200.000 ($1.000) c*tf Int. at Farmers'Tr.Co., Lancaster, Trustee.
Edison Elec Co 1st & ref M 1913 5 F-A
1,482,000 Feb 1 1943
ULancaster Trust Co., Lancaster, Trustee.
$5,000,000
Edison Elm Ilium Co 1st 1895 5 J-J
290.800 July 1 1925
M $300,000 ($100, $500 Interest at Lancaster Trust Co., Lancaster.
Trustee.
& LOW)
c&rtf
eol El L H & P 1st M gold 1905 5 M-N
125,000 May 1 1935
$125,000 ($1,000)_c,&rtf Int. at People's Trust Co., Lancaster, Trust.
Conestoga Realty Co 1st M 1908 5 M-N____
248,000 May 1 1958
$500,000 sink fund g c_ _ tf Int. at Lancaster Trust Co., Lane., Trustee.
Bonds.-Of Conestoga Trac. 1st M. bonds, $610,000 reserved to retire
prior liens. $112.500 reserved to be used for the reduction of rentals. Of
Lane. Gas Lt.& Fuel 2d M.$300,000 are reserved to retire 1st M. bonds.
Lane. Gas Lt.& Fuel 3d M.bonds are redeemable at 105 and int. on any int.
date on 3 mos.'notice. Columbia Gas Co. bonds are red. on any int, date at
105 and int. on 90 days' notice. $125,000 reserved for future improve'ts at
85% of cost thereof. Of Edison Elec. Co. 1st and ref. bonds, $285,000
reserved to retire underlying bonds; remainder held in treasury for impts..
extensions, &c., at 85% of cost thereof; red. as a whole, but not part, at
105 and int. on any int. date. Columbia Elec. Light, H. & P. bonds are
red. at 110 and int. on any int. date. The bonds are guar. by the Lane.
County Ry.& Lt. Co. Conestoga Realty Co. bonds are red. at par and int.
on any int. date upon 3 mos.' notice. Sinking fund an amount•set up
monthly sufficient to retire bonds at maturity.

ELECTRIC RAILWAYS

56

Dividends.-The first dividend on the preferred stock (3%) was paid on
July 1 1904 and 3% was again paid on Oct. 11904. In 1905, Jan., 3%
(see V.79,P. 2796); July. 3%;Dec.,43%. In 1906,6%%. In 1907,7%.
In 1908 and since, 5%. On common,in 1908 to 1912, incl., 10%; in 1913,
12%;in 1914, 1134%;in 1915. 143i%;in 1916,15%;in 1917, March,3%%•
REPORT.-For year ending Dec. 31 1916, earnings (less expenses and
proportion of surplus of sub. cos.), $375,128 (against $327,249 in 1915);
bond interest, $50,000; pref. div.. $50,000; surplus, $275,128.
Combined Results of Subsidiary Companies-Calendar Years.
Surplus.
Net(aft.Tax.) Charges.
Gross.
Year$434,520
$448,893
$883,413
$1,941,783
1916
361,580
435,401
796,981
1,744,617
1915
ROAD.-The Conestoga Traction Co. (the operating company) leases
163.75 miles of track, Including the Lancaster City Street By., 16.76 miles:
Lancaster & Columbia,8.26 miles; Lancaster & Lilitz, 9.19 miles; Columbia & Ironville, 4.27 miles; Columbia & Donegal, 5.16 miles; Lancaster &
Mechanicsburg & New Holland, 20.80 miles; the New Holland Blue Ball &
Terre Hill Street Ry.,4.99 m.; the Rohrerstown Landisville & Mt.Joy By..
13.87 m.; the Lancaster & Eastern Ry. 17.74 m.; the Lancaster & QuarryRy.,6.40 m.;
ville Street Ry.,8.44 miles; the Elizabetlatown & Florin Street Ry.
the Christiana & Coatesville St. Ry.. 11.04 miles; Lancaster &
By., 4.67 miles; Lancaster Willow Street Lampeter & Strasburg By., 11.23
miles; the Lancaster Petersburg & Manheim Ry.,8.33 miles; the Ephrata &
Adamstown,7.99 m., and the Lancaster & Rocky Springs 4.61 miles.
Subsidiary gas and electric companies had 11,841 gas and 8%568 electric
meters in use on Jan. 1 1917.
Lines Leased to Conestoga Traction Co.
Rental(%). Miles.
Stock.
Name of Company20.80
8
Lancaster Mechanicsburg & New Holland-__5300.000
13.87
6
440,000
Rohrerstown Landisville & Mt. Joy
6
7.99
225.000
Ephrata & Adamstown
4.61
200.000
Lancaster & Rocky Springs
4.99
5
120,000
New Holland Blue BO & Terre Hill
6
430.000
Lancaster & Eastern
6
225,000
Lancaster & Quarryville
16
..4
87.70
4
44
6
220.000
Elizabeth & Florin
81.0.334
11.04
6
365.000
Christiana & Coatesville
,
Petersburg & Manheim
an
Lancaster
11.23
8
6
225,000
Lane. Willow St. Lampeter & Strasburg_
8.26
20
37.500
Lansaster & Columbia
OFFICERS.-Pres„ W. W. Griest; V.-P., George Bullock; Sec., J. A.
McKenna; Treas., H. J. Vritchard; Asst. Sec.-Treas., J. M. Groff.-V.91,
p. 463, 1447; V. 93, p. 1783.

e

LANCASTER & YORK FURNACE STREET RY.-A trolley road.
ORGANIZATION.-Incorp. May 17 1916 in Pennsylvania as successor
to old Lancaster & York Furnace Street Ry. (Incorp. July 22 1901), bought
In by the bondholders on Apr. 15 1916 for $125,subject to the mortgage for
$150,000 (V. 101, p. 212; V. 102, P. 1540). Operations, which had been
discontinued in Jan. 1916, were resumed May 19 1916.
Interest. Outstandnig. Maturity.
liteSTOCK AND BONDS- Date.
$100,000
Stock $100,000($50) .
150,000 Jan 1 1928
let M gold $150,000 ($1001 1908 5 g J-J
$500 & $1.00)_ __c&rntflInt. at Northern Tr.& Say. Co., Lanc.,trust.
Bonds.-Are not subject to call and have no sinking fund.
ROAD.-Operates 1231 miles of track between Millersville and York
Furnace. 60-lb. T rail. Gauge 5 ft. 2% in.
OFFICERS.-Pres„ Paul Heine; V.-P., J. B. Harnish; Treas., Elam
H. Myers; Sec., John H. Myers; Gen. Mgr. John H. Ware.-V. 92. 13.
' 1540. 1625. 2077.
187; V. 101. p. 212, 2145; V. 102, p. 153, 1249,

LAUREL, MISS.
LAUREL LIGHT & RAILWAY CO.
ORGANIZATION.-Incorp. in Miss. Owns and operates the lighting,
power and street railway system in the cities of Laurel and Ellisville, Miss..
and an electric interurban railway between the two cities. The lines outside the cities and 2 miles in Laurel are on private right of way. Franchises
In Laurel extend to Sept. 1936; in Ellisville to Mar. 1937.
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
$425,000
Common stock
•
75,000
0
Preferred stock,67
408,000 July 1 1936
First mortgage $5010,000 gold t 1911 6 g 3-3
c*tffInt. at Fidelity Trust Co.. N. Y., 'Trustee.
($1,000)
80,000
Laurel El P & Lt Co mtgeBonds.-$80,000 1st M. bonds are reserved to retire underlying bonds;
remaining $12,000 are issuable for additional property. Not subj. to call.
EARNINGS.-For calendar years:
1913.
1914.
1915.
1916.
Year$99,264
$120,602
$121,756
$124,049
Gross
38,887
46,640
59,633
49,082
Net
ROAD, &c.-Comprises 63 miles in Laurel and 95 miles between
Laurel and Ellisville; total, 16 miles. Owns a pleasure park between
Laurel and Ellisville.-V. 104, p. 452.

LAWRENCE, KANSAS.
KANSAS ELECTRIC UTILITIES CO.
ORGANIZATION.-Organized in Kansas in Sept. 1915 to acquire the
properties of the Lawrence By. & Lt. Co., Emporia By. & Lt. Co. and
Parsons By. & Lt. Co. Supplies electric light, power and street railway
service in Lawrence, Emporia and Parsons, Kan. Franchises expire in
1929, 1931 and 1938 and contain no burdensome restrictions. Also owns
all the capital stock of the Sidney (0.) Electric Co., Union City (Ind.)
Electric Co. and United Lighting Co. of Albion, Pa.
Interest. Outstanding. Maturity.
STOCK AND BONDS- • Date.
$400,000
Stock, $1,750.000
1,150,000 Oct. 1 1925
First mtge, $1,750.000 (*11 1915 5 A-0
000. $500 & $100) g.c* tf Int. at Cont. & Comm. Tr. & Say. Bank,
Chic., Trustee, and First Nat. Bk., N. Y.
Tax refund in Pennsylvania
Bonds.-Remaining bonds may be issued for 80% of cash cost of extens.,
impts. and addns. under conservative restrictions. Callable on 60 days'
notice, all or part, at 102% and int. Sinking fund began Jan. 1 1917
of I% of bonds out from 1917 to 1920 incl., and 2% thereafter. Bonds to
be held alive in skg. fd. In addition a fund is to be set aside annually for
betternfts which will amt. to abt. $172,500 by 1925. V. 102. p. 803.
Earnings.-Of consolidated cos. for year end. Aug. 31 1916. gross,
$318.447; net, after taxes, $135,727. In addition the net earnings of controlled cos. applicable to divs. for the year end. Aug. 31 1916 were $34,384.
ROAD.-Owns and operates 10 miles of street railway in Lawrence,
4.8 miles in Emporia and 7.8 miles in Parsons; total, 22.6 miles. 60-70-1b.
T rail. 30 motor cars,7 trail cars and 1 combination work and snow car.
OFFICERS.-Pres., Albert Emanuel, Dayton, 0.; V.-P., Irving Hill,
Lawrence, Kan.; Treas., L. A. Pettit, Dayton, 0.-V. 102, p. 889.

LEETONIA, OHIO.

YOUNGSTOWN & OHIO RIVER RR.-A trolley and steam road
Freight service operated by steam; passenger service by electricity.
ORGANIZATION.-Incorporated in Ohio on Dec. 8 1905. In 1906
leased for 99 years Salem RR.from Pittsburgh Lisbon & Western RR. Co.
for $6,000 per annum; the former runs between Salem and Washingtonvitle.
7 m. In 1910 road was re-capitalized and new securities issued as below.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,000,000 Dec.'16,1%
Stock common $1,000,000_
1,000,000 See teal
Q-M
Preferred $1,000,000 5% cum. ____
1,200,000 Apr 1 1935
First mortgage $2,500,0001 1910 5 A-0
c* Int. at Citizens' Say. & Tr. Co., Cleveland,
gold ($1,000)
Trustee, or First National Bank, N. Y.
Stock and Bonds.-Pref. stock div. is cumulative from July 1 1913.
Bonds subject to call on any int. date at 105 and int. Remaining bonds
are reserved for acquisition and extension under certain restrictions.
Dividends.-Dividends on pref. began in 1910 and in that year 1;4% was
in 1913 and 1914, 3U%; in 1915.
paid. In 1911, 3%%,• in 1912. 4%
%. In 1916, Marc,131%;June,1X% and X % extra acct. ofacetimu% and
lations; Sept., 131% and 31% extra acct. of accumulations; Dec.,
27 extra, paying up all accumulations. Initial div. on com. of I% paid
in Dec. 1916.
EARNINGS.-For years ending Dec. 31:
Bond
Balance,
Net
Gross
Exp. Taxes
Year ending
Interest. for Divs.
Dec. 31- Earnings. c% denials. Earnings.
$76,438
$54,611
$131,049
$206,508
1916
$337,557
52.916
50,095
103,011
187,363
290,374
1915




[VOL. 104.

ROAD.-Operates from the terminus of the Stark Electric Ry., In
Salem, Ohio, through the city of Salem to a connection withthe Salem BR,,
and over the Salem REL. from Salem through Washingtonville, Leetonia.
Lisbon and West Point to East Liverpool, Ohio, a distance of 36 miles.
At Leetonia, 0., connection is made with the Youngstown & Southern Ry.,
Owns 32.19 miles of track and leases 6.81 miles. Standard gauge, mostly
70-1b. T rail. Pass. equip., 7 cars; freight, 3 locomotives, 15 cars.
OFFICERS.-Pres. & Asst. Treas.. Chas. S. Thrasher; V.-P., G. D.
Dewees; Sec. & Treas.. Warren Bicknell; Gen. Mgr., J. D. Dewees; Operating Mgrs., Warren Bicknell Co.; Aud., R. F. Miller. General office, Leetonia, 0.; executive offices, 304 Citizens Bldg., Cleveland, Ohlo.-V. 101.
p. 450. 1887, 2146; V. 102, p. 523; V. 103, p. 494, 1120, 2429.

LEWISTOWN, PA.
LEWISTOWN Sc REEDSVILLE ELECTRIC RY.
Controlled by the Penn Central Light SG Power Co. of N.J.(V.96,D.493)
and operated in connection with the Penn Central Light & Power Co.
(Penna.). All of the stock and some of the bonds are subject to the lien
of the mortgages of the Penn Central Lt. & Power Co.
ORGANIZATION.-Incorporated in Pennsylvania on March 24 1892:
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date,
$150,000 '07-'08, 57
Stock 3150.000 (350)_
150,000 June 1 1919
1st M g ($500 and 31,000)1 1899 5 g 3-3
$150,000 not callable.._c&rlInt. at Merchants Union Tr. Co., Phila., Tr.
Holders of 2d mtge. 5s, due May 1 1917, were offered Penn. Central
L. & P. Co. 1st & Consol. 6s, par for par, or cash at par.
Dividends.-1902 to 1908, inclusive, 5% per annum. None since.
EARNINGS.-For 12 mos. ending Mar. 311917, gross. $174.914; net,
after taxes,$13,937;charges,$13,937; balance, none.
ROAD.-Operates 10.55 miles oftrack from Lewistown to Reedsville and
Lewistown June., with a branch to Bufnham. 60 and 70-lb. T and 70-lb.
girder rail.
OFFICERS.-Pres. and Mgr., J. 1. Quigley. Lewistown; V.-P., John E.
Zimmerman, Phila.; Sec. and Treas., Chas. Day, Phila., Suet., C. E.
Gossard. Lewistown.-V.88. D. 1128: V.89. D. 919; V. 96, p. 487.

LEXINGTON, KY.
KENTUCKY SECURITIES CORPORATION.-A holding company.
ORGANIZATION.-Incorporated in Virginia on Jan. 23 1911 (V. 92. p•
322) as successor to the Lexington & Interurban Rye. Co. per plan in
V. 92, p. 461. Owns the entire stock of the Kentucky Traction & 'Terminal Co. and Lexington Utilities Co.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$2,052,287
Common $2,500,000($100)
Pref 32,500,000 ($100) 6%1
2,154.920 See text.
cum from Jan 1 1913
Stock.-Both corn. and pref. are listed on Phila. and Louisville stock
exchanges. Pref. Is also listed on Cincinnati Stock Exchange. Pref.
stock is redeemable at par and accum. div.
Dividends.-Inft1a1 div. on pref.. 134%, paid July 15 1913; same rate
quer. to and incl. July 1916; in Oct. 1916 paid 134% and A of I% extra
acct. of accumulations. In Jan. 1917, 134% and I% extra, paying up all
accumulations, in April, 134%.
EARNINGS.-Of combined properties (Ken. Trac. & Term. Co. and
Lox. Util. Co.) for years ending June 30 (1916 report in V. 103. p. 2427):
Balance,
Other Sink.F'und, Bond
Gross
Net
June 30.
Earnings. Earnings. Income. Taxes, &c. Interest. Surplus.
Year$850,685 $412,522 $29,206 $38,774 $206,802 $196,152
1915-16
203,905
170.284
33,324
28,288
811,628 379.226
1914-15
Passengers carried in 1915-16, 6,369,840, against 6,084,710 in 1914-15.
OPERATIONS.-Constituent companies operate 95.5 miles of track.
They do the electric-light and power, gas, street railway and ice business of
Lexington. Also operate city lines in Frankfort and lines radiating from
Lexington to Georgetown, Paris, Nicholasville, Versailles and from Frankfort to Versailles.
OFFICERS -Pros.. P. M. Chandler; V.-P., P. W. Bacon; Sec. and.
Treas., J. K.Trimble.-V.103. P. 1118; 1687, 2427; V. 104, ro• 73.
•
(1) Kentucky TraCtion & Terminal Co.
ORGANIZATION.-Incorporated in Kentucky on May 18 1911 as a consolidation of the Lexington By., Bluegrass Trac. Co. and Central Kentucky
Traction Co. V. 92, p. 1436. The entire stock is owned by Kentucky
Securities Corp. Franchises perpetual except those on 1 mile in Winchester
expiring in 1927.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$2.093,400
Stock $2,500,000($100)_
5 g F-A
2,503,000 Feb 1 1951
let & ref mtge $7,500,000 g 1911
($1,000) guar p & L_ _c*tflint. at Commercial Trust Co., Phila., Trust.
1.500,000 June 1 1949
Lox Ry first mtge *1,500.0001 1899 5 g J-D
_c tf Int. at Continental Tr.Co., Baltimore, Trus.
gold ($1.000)
259,000 Mar 1 1934
Blue Grass 1st mtge $700,000 1904 5 g M-S
g ($500 and 31,000)__Orrtf Int. at Cleveland Tr, Co., Cleveland, True.
5 g M-N15
200,000 Nov 15 1921
cs,rrtsft 1901
Georgetown & Lexingtonfi
mtge $250,000 gold (3100. Interest at Cincinnati Tr. Co„ Trustee, and
at Standard Trust Co., New York.
$500 & $1,000)
Bonds.-Of the 1st & ref. bonds. $1,959,000 are reserved to retire prior
liens and remainder for extensions, improvements, &c., at not exceeding
907 of cost under certain restrictions. They aro redeemable as a whole
on February 1 1914 or any interest day thereafter, or in part for sinking
fund on any interest day after November 1 1921 at 105 and interest.
Bonds are guaranteed prin. & int. by end, by the Kentucky Secur. Corp.
Sinking Fund %7. loer annum of bonds out., 1921 to 1930; 1% 1931 to
1950. V. 92, p. 1564. The bonds are listed on Phila. Stock Exchange.
V. 94: p. 1119. Sinking fund will retire 1% of Lexington By. bonds
annually; $147,000 were held in s. f. April 30 1917.
ROAD.-Operates 95.5 miles of track, comprising all street railways in
and about Lexington, 16.2 miles; Frankfort, 6.7 miles; Winchester, 1.2
miles; interurban lines radiating from Lexington to Georgetown, Paris.
Frankfort and Nicholasville, 67.6 miles; sidings and spurs, 3.8 miles. 50 to
80-lb. rails. Standard gauge. Owns 34 closed and 15 open cars. 15 interurban passenger, I ice, 3 freight and 4 service cars.
OFF10ERS.-Pres„ Percy M. Chandler, Phila.; V.-P., F. W. Bacon.
Lexington; Sec., T. D. Murray, Lexington; Asst. Sec., W. J. Devine:
Phila.; Treas., J. Will Stoll, Lexington; Asst. Treas.. Jerry W. McMeekin,
Lexington; Gen. Mgr., S. H. Bailey.-V.97, p. 237; V. 99, p. 1130.
(2) Lexington Utilities Co.
ORGANIZATION &c.-Incorp. on June 5 1909. Stock auth. and out,
3100.000. All stock is owned by Kentucky Securities Corp. Does ice and
electric-light and power and gas business in Lexington. Light and power
franchises expire in 1936. Gas and ice franchises are perpetual. Power
plant has rated capacity of 5,000 k.w. Daily capacity of ice-manufacturing plant, 75 tons.

LIMA, OHIO.
WESTERN OHIO RR.-A holding company.
ORGAN1ZATION.-Incorporated in Ohio on June 7 1910 to take over
under lease the Western Ohio Ry. but lease was canceled by vote of stockholders on June 28 1915 and the company's electric light and power plant
at Sidney sold to the Standard Power Sc Equipment Co. and all its other
property and assets to the Western Ohio Railway Co. except the stock of
that company owned. Holders of cam, stock of Western Ohio Ry. had
right to exchange before Jan. 1 1911 their stock for stock of Western Ohio
RR.on baslsof 3shares of Ry.for one share of RR. V. 90, p. 1556. 29,278
shares were so exchanged. Stock auth., $1,000,000; Issued, $988,500.
(1) Western Ohio Ry.-A trolley road.
ORGANIZATION.-lncorporated in Ohio on Oct. 11 1900. This is one
of the Mandelbaum roads and forms a link in the through car service from
Cleveland to Lima. Outside of municipalities has private right-of-way.
Franchises in towns are for 25 years. Owns entire common and pref. stock
of the Lima Findlay & Toledo By. V. 83, p. 97, 157, 381. Has contract
to furnish power until April 30 1923 to Lima & Toledo Traction, Ft. Wayne
Van Wert & Lima Traction and Indiana Columbus & Eastern Traction.
Was leased to the Western Ohio RR. by which it Is controlled through
'in 1915. See remarks above.
stock ownership, but lease was canceled
Stockholders on June 28 1915 voted to make the 1st pref. stock redeemable at 10734 to put the company in position to retire the stock when the
12.500.000 1st M. bonds mature on Nov. 1 1921 and arrange a comprehensive financial plan.

MAY, 1917]

ELECTRIC RAILWAYS

STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common $30,000 ($1)
$30,000
1st pf $500,000 ($100) 7% cum ____
476,000 Apr'17,1
Q-J
'%
2d pf $500,000 ($100) 6% ctun ____
450,000 Jly'14,1 %
Q-J
1st M $3,000,000 g ($1,000)1 1901
5 g M-N
2,500,000 Nov 1 1921
$26.500 per m
c*&rtfpnt. at Cit. Say. & Trust Co., Cleveland,
Trustee, or First National Bank, N. Y.
Collateral trust mortgage 1'110
6%
24,000 July 1 1930
$500,000
tf 1 Cleveland Trust Co., Trustee.
L F & T 1st mtge $600,000 1905
5 g J-J
346,000 July 1 1925
gold ($1,000)
ctf Int. at Citizens' Say. & Trust Co., Cleveland, Trustee, or in New York.
Bonds.-The West Ohio 1st M. bonds have no sink. fd. and bonds are not
subject to call. $475,000 have been canceled. See V. 76, p. 160,for agreement among bondholders. Coll, tr. bonds are convertible into 1st
stock and are secured by deposit of $30,000 1st 5s. $476,000 have pref.
been
converted. No sink. fd.; red. on Nov. 1 1921 at 110. As bonds are converted, proportionate amounts of the 1st 5s which are collateral will be
canceled.
The Lima Findlay & Tol. bonds have a sinking fund of $10,500 per ann.,
which began in 1911. Are subject to call at 105. $54.000 have been
retired. V. 80, p. 2344.
Dividends.-On 1st pref. regular quer. divs. are paid. On 2d pref. first
dly., 1%%,paid Oct. 1910, and same amount quay, to and incl. July 1914.
None since.
EARNINGS.-For year ending Dec. 31:
Gross
Net(after
Preferred
Balance,
YearEarnings.
Interest.
Taxes).
Dividends. Surplus.
1916
$749,863
$165,739
$264,314
$33,320
$65,255
1915
172,039
638,667
206,550
33,302
1.209
1914
664,537
236,722
165,259
59,934
11,529
ROAD.-Operates from Lima through 'Wapakoneta and St. Marys to
Celina;from St. Marys to Minster. and from Wapakoneta to Piqua; a total
of 82.01 m.; also Lima to Findlay, 31.97 m.; thus completing a
through line
to Toledo. Total, 113.98 m., single track. Standard gauge.
Owns 19
pass. motor cars. 7 freight motor cars and 54 freight and express trail
cars.
OFFICERS.-Pres.. F. D. Carpenter, Lima; V.-P., E.
F.
Gould.
Cleve.;
See. & Treas., L. B. Webster. Cleve.-V.94, p. 1450; V.99. p.
895.

LINCOLN, NEB.

57

$1.000,000 issued as 6s; rate on subsequent bonds to be at
discretion of
board of directors at not exceeding 6%. See full particulars
regarding
bonds property, &c., in V. 87, p. 414.
Dividends.-On pref.,6% per annum paid up to and including
Dec 1916.
On com., 1906. 2%; 1907, 4%: 1908,4%%: 1909,
8%; 1910,8%. In 1911.
20%. In 1912 to 1915, 10%. In Jan. 1916,1%;July,
3%;Dec.30,2%.
EARNINGS.-For cal. years.
YearGross.
Net aft.Taz.
Int. Ac.
Surplus.
1916
$934,972
$403,572
$210,820
$192,752
1915
881,861
372,714
205.336
167,378
ROAD.-Operates 39.59 miles of track,
12.10 miles of doubletrack. Rails, 70-lb. and over. 26 open. 37including
closed, 22 semi-convertible and
7 work cars; total, 92. Operates Forest Park,
located about 6 miles from
the centre of the city.
OFFICERS.-Pres.,D.H.Cantrell; V.-P.& Treas., W.
L. Hemingway;
Gen. Mgr., Chas. J. Griffith; Sec., W. J. Tharp.
96, p. 1022; V. 97.
13• 1898; V. 100, p. 1510; V. 101. p. 2145; V. 102,-V.
p. 1163.

LONG BRANCH, N. J.

MONMOUTH COUNTY ELECTRIC CO.
ORGANIZATION.-Incorporated April 1 1901 as
a reorganization of
the Atlantic Highlands Red Bank & Long Branch
1903 was granted a 45-year franchise to operate inElectric By. In April
Long
Branch, in consideration of which the town is to receive Si of 1%
of gross receipts.
Receivers-Default.-On Apri120 1916 Charles
Sexton of Long Branch
and Wm. G. Boteler of Red Bank were appointed F.
Int. on bonds
has been in default for some time. The propertyreceivers.
is advertised to be sold
at public auction.
STOCK AND BOtest
tstanding. Maturity
Stock $500,000 ($50)-----------------$325,000
First mtge $500,000 ($1001 1901
4 g J-J •
500,000 Apr 1 1951
and $1,000) geld
c'of int. at Hamilton Tr.Co., Brooklyn, Trustee
Other debts, Dec 31 1915_
153,417
ROAD.-Operates in and between Red Bank and Long Branch and
from
Red Bank to Oceanic. Total track, 17.71 miles.
EARNINGS.-For calendar year 1915, gross, $76,355; operating ()spa.,
&c.. $87,494; repairs, $19,844; deficit, $30,983. V. 102, p. 2254.

THE LINCOLN TRACTION CO.-A trolley road.
ORGANIZATION.-Incorporated in Nebraska in
Is a consoliLONG ISLAND CITY, N. Y.
dation of the old Lincoln Traction and the Citizens' Ry.1909.
Co. V. 88, p. 606.
LONG ISLAND CONSOLIDATED ELECTRICAL COMPANIES.
Holders of the old Lincoln pref. stock ($700,000) received 110
in the new
bonds. Holders of the old Lincoln com.($330,000) received, for every
ORGANIZATION.-Entire stock is owned by the Long Island RR. Inshare corporated in New
of old two shares of new pref. and four shares of new common.
York. Owns one-half the stock (the
gh Rapid
of Citizens' Ry. stock ($415,000) received 100% in now pref. and Holders Transit Co. owning the other half) and bonds of N. Y.Interborou
& L. I. Trac. and
80% in Long Island Elec.
new common.
Ry.
Favorable Decision.-On Jan. 3 1912 Nebraska Supreme Court
affirmed
STOCK AND BONDS- Date.
the decision of the lower Court in quo warrant° proceedings by the
Interest. Outstanding. Maturity.
State, Stock $25,000 ($100)
All owned by Long Island RR.
refusing to order the cancellation of $1,500,000 stock, it having
been Coll trust bonds $10,000,0001 1905
claimed the same was "pure water." V.94. p. 912: see also V.93, p. 1363.
43.4 g
None
1945
guaranteed
gold,
ntfjU. S. Mtge. & Trust Co., N. Y., Trustee.
Power Contract.-The co. has leased its power plant to the
lth
Bonds.-Are guaranteed, principal and interest, by Long
Power Co.of Nebraska (controlled by the same interests) andCommonwea
Island RR.
has contracted
OFFICERS.-Pres., Ralph Peters; V.-P., C. L. Addison; Sec., Frank
to puirchase all its electrical energy from the Power Co. for 49
on a Haft,
sliding scale basis of 13.1 to lc. perk. w. Under the agreementyears
N. Y.; Treas.. J. F. Fahnestock, Philadelphia.-V.83, p. 890. E.
the
to pay from the amounts due the Power Co. the interest and sinkingco. is
fund
(1) Long Island Electric Ry.-A trolley road.
charges of the latter. The Power Co. has outstanding $750,000 1st M.6s,
In Jan. 1906 control passed to the Interborough Rapid Transit Co. and
duo Mar. 1 1944, $600,000 7% 1st pref. and $1,900,000
2d prof. stock. the Long Island Consolidat
ed Electrical Companies, each owning one-half
See V. 104, p. 163.
the stock and bonds.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
ORGANIZ
ATION.-Chartered March 13 1897 as New York & North
Common $2,000,000($100)--$1,652,000 Dec '16. 1% Shore Ry. On Oct. 11
1899 was consolidated with the former Long Island
Frei $1,500,000 ($100) 6% cu_
Q-P
1.149,400 May'17,14 Electric By., new company
having $2,100,000 capital stock and $2,100.000
1st mortgage $1,500,000 gold) 1909
5 g J-J
1,250,000 Mar 1 1939 bonds. On May 7 1902 the
lines north of Jamaica were sold under forec&rtflInterest at New York Trust Co., trustee.
$1,000)
closure
Queens
the
to
Ry.
Co.. which company was then merged in the
Old Lincoln Traction M g $1.- 1899
g
5 J-J
250.000 Jan 1 1920 New York & Queens County Ry.
On Aug. 28 1903 old name of "Long
000) ($250,000)
c*tf Interest at New York Trust Co.. Trustee.
Island Electric Ry." was resumed. In Aug. 1909 stock was
reduced from
Bonds.-Remaining $250,000 new Lincoln Traction Co. bonds are
reserved $2,100,000 to $600,000 by cancellation of $1,500,000 stock originally issued
for prior liens. Subj. to call after 1919 at 110.
to represent the piece of road which subsequently became the Queens
By.
Dividends.-13.i% paid quer. on pref. from May 1
1909 to May 11917. and now forms part of the N. Y. & Queens County By. V. 89, p. 42, 593.
Inclusive. On common. 2% paid Sept. 1912. 1% paid
STOCK AND BONDS- Date.
1% paid Sept. 1 1914. In 1915. March. 1%; June. Mar. 15 1914 and
Interest.
Outstanding
Maturity.
.
1%; Sept.. 1%. In Stock $600,000 ($100)------1916, Apr., 1%; July. 1%; Aug., 1%; Oct., 1%; Dec.,
$600,000
1%,
L I Elec 1st M $600,0001 1895
5 g J-D
EARNINGS.-For years ending Juno 30:
600,000 June 1 1925
cdir_ntf Hamilton Trust Co., Brooklyn, Trustee.
($1,000)
YearCITOSS.
Net.
Int.. Taxes dc Divs. Surplus.
Interest paid by Treasurer, New York.
1915-16
$929.576
$277,570
EARNING
-For
S.
year
$194,679
ending
Dec. 311916, gross, $245,166: net, after
$82,891
1914-15
874,748
260,454
190,311
70.143 taxes, $7,900. In 1915, gross, $251,881; net, after taxes, $27.006.
ROAD.-Owns M.59 miles of track.
ROAD.-Comprises 25.23 miles of track on 16.30 miles of road from
OFFICERS.-Pres.. W. E. Sharp; V.
-P. & Gen. Mgr. J. M. Bramlette: Crescent Avenue, Brooklyn (at the terminus of the Kings County Elevated).
Treas., S. H. Burnham; Sec., 0. J. Shaw.
to Jamaica. Hollis and Queens, and from Jamaica to Far Rockaway.
-V. 97, p. 521. 1898.
36
passenger cars and 8 others.-V.88, p. 101: V.89. p.42,593;
V. 102. p.1540
OMAHA LINCOLN & BEATRICE RY.
(2) New York & Long Island Traction.-A trolley road.
Is to construct 56 miles between Lincoln and
On June 20 1905 control was purchased jointly by the lnterborough
from Lincoln to Bethany Heights is completed Omaha, of which 7 miles Rapid
Transit Co. and the Long Island Consol. Elec. Cos. V. 80, p. 2622.
and in operation. Of the
7 miles just mentioned,
of a mile is an extension
into the main business
ORGANIZATION.-This was formerly the Mineola Hempstead &
centre of University Place. Standard gauge.
Free70-lb.
T
rail.
Franchises.
port Traction (incorp. Feb. 27 1899), but name changed as above Sept.
99 years and perpetual. Stock auth.,
22
$2,250.000 ($100); outstanding, 1902, and stock increased from $125,000 to $1,000,000
$200,000. In Dec. 1916 the Nebraska RR.
.
Comm.
auth.
the
co.
to
June
Decision.
issue
-On
Fare
15
1912
S.
common
P.
$2,000,000
and $500,000 pref. stock and
Comm., 2d Dist., decided that
$2,500,000
bonds for the company is not obliged under its franchise to limit itself to a 5-cent
completion of the lino from Omaha to Lincoln,
fare
but not including the exten- between IIempst,ead and Belmont Park. V.
sion to Beatrice.
94, p. 1696.
On June 22 1914 County Judge James P. Niemann held that the company.
EARNINGS.-For 12 inos. ending Dec, 31 1916,
gross, $25,577; net under its franchise, could not charge more than 10 cents for a 10-mile ride.
(after $3.020 taxes),loss,$2,709. In 1915,gross,$25,355;
not (after taxes). V. 99, p. 407. The Appellate Div. reversed this decision and case is now
loss, $7.457.
pending in the Court of Appeals.
OFFICERS.-Pres., Harvey Musser; Sec.,
STOCK AND BONDS- Date.
J.
C. Musser; Treas. & Gen.
Interest. Outstanding. Last Div.
Mgr., J. M. Brainiette; Aud., 0. J. Shaw,
Office, 115 North 9th St., Common, $750.000($50)-750,00
Lincoln.-V. 103, p. 844; V. 104, p. 73.
Pref 5% cum $250,000 ($50)-------250,000
First mtge $1,000,000 gold{ 1902 4% g M-N 1.000,000 No div. vet
Nov 1 1942
($1,000)
c&r_ntf Interest paid by Treasurer, New York.
LITTLE ROCK, ARK.
Citizens' Say.& Tr. Co., Cleveland,0..Trus.
LITTLE ROCK RAILWAY & ELECTRIC
Bonds.-Are subject to call at 107 on 30 days notice, but no sinking
fund.
Amer. Cities Co. (see under Now Orleans) CO.
EARNINGS.-For years ending Dec. 31:
owns 80.87% of corn. and
80.12% of pref. stocks.
YearGross.
Net(aft.Tax
Oth.Inc.
)
Int.,RentA
c. Balance.
ORGANIZATION.-Incorporated in
$413,987
Arkansas on March 17 1903 and is a 1916
$43,191
$987
$69,614
def.$25,436
consolidation of the Little Rock Traction
428,387
& Electric Co. and the Little 1915
87,643
5,422
70,546
sur. 22.519
Rock Edison Electric Light & Power Co.
ROAI).-Op
Operates
eratcs
an electric line connecting Mineola, Hempstead and
all street railways in
Little Rock and Pulaski Heights and all the
Freeport. 7.84 miles. Also operates line from Hempstead west 5.58
business in Little Rock, Argenta and Pulaski electric lighting and power miles
to Queens. where connection is made with the tracks of
Railway franchise
Long
extends to Sept. 28 1951; lighting franchise Heights.
Island Electric By. Co. Also a line 17.01 miles long from Freeportthe
unlimited in time.
westerly
In the latter part of 1912 acquired control of
Garland Power & De- via Rockville Centre. Lynbrook and Valley Stream. to a connection with the
velopment Co.. which controls water powers on the
County
Kings
Elevated
Ouachita
By.
Brooklyn.
at
River,
45
Also
miles
a line from Queens to
from Little Rock. Hydro-electric developments with a
capacity of 28,000 Mineola via Jericho Turnpike, 5.86 miles. Total, 36.29 miles. Total.
Ii. p. are contemplated. V. 95. P. 1746.
Including second track, 41.31 miles. 30 passenger and 10 other
cars.
In Feb. 1916 increased the com. stock from $1,500.000 to $2,009.000
OFFICERS.-Pres.. C. L. Addison. Penn. Sta., N. Y.; V.-P. &
to
acquire the assets of the Merchants' Lighting Co., a controlling
Gen.
Interest In Mgr., W.0. Wood,Long Island City, N.Y.; Sec.& Treas..
the Central Heating & Mfg. Co. and provide for further acquisition
Frank E.Haft,
s,
exts..
Penn.
Station,
RR.
N. Y.-V.94.p. 1696; V. 99,p.407; V. 102, p. 1541.
&c. $411,700 of the new stock was sold at par; balance held in
treasury.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity
NEW YORK & QUEENS COUNTY RY.
Common $2,000,000 ($100)
seml-ann $1,911,700 Dec
32,048 shares out of total issue of 32,350 is owned by the Interborough
'16,2%
Prof6% cum $750,000 ($100)
--6 J-J
Rapid Transit Co., which also owns one-half of the stock of the Long Island
750,000
Doc'16,
3%
First mtge $2,000,000 gold(1903
5 g A-0
1,i95,000 Apr 1 1933 Electric By. and the New York & Long Island Traction.
c* Interest t Coin. Germania Trust
($1.000)
& Savings
ORGANIZATION.-Incorporated June 29 1896 and reorganized
Bank, New Orleans,
on
Trustee.
June 30 1899. Purchased
various lines of railroad in Long Island City
Refunding and extension mtgi 1908
6 g A-0
1.606,000 Apr 1 1938 known as the Newtown By.the
Co., the
$5,000,000 ($500 and $1,- Int. at Bank of Commerce
Ave. & Sanfords Point RR.,the
& Trust Co., Steinway By., the Long Island City Riker
cs
000) gold
& Newtown By. and the Flushing &
Memphis,Trustee
College Point By. In May 1902 the Queens 11y. was consolidated
Gold notes
1915
6%
with it,
Stock.-Pref. stock is redeemable at 110 and accrued300,000 Dec. 1 1917 and thereupon increased its stock from $2,500.000 to $5.000,000. The
dividend. $88,300 Queens By. succeeded to the property sold at foreclosure of
common stock is held in treasury.
the New York
Shore
North
&
By.,
Bonds.-First mortgage bonds are subject to call
comprising a line of 6 miles from Flushing to Jamaica,
on 60 days' notice on with franchises for lines
any interest period at
between Flushing and College Point, Flushing and
1073. Sink, fund of ti of 1% of outstanding bonds Bayside and Manhasset
. V. 74, p. 1197.
1908 to 1917; 1% thereafter.
On Jan. 11917, $105,000 were held in sk. fd.
Tne new Queensboro Bridge across 13Iackwell's Island was opened in
The refund. & extension bonds cannot be called;
retire 1st 58 and remainder for 80% of cost of $2,000,000 are reserved to 1909. On Sept. 19 1909 the City of New York's municipal trolley across
additional•property if net the bridge began operation. The round trip fare
earns. for 12 mos. previous have been twice the annual
int. charges on out- 1909 New York & Queens County By. was grantedis 5 cents. On Dec. 16
standing bonds,incl. those to be issued. A sinking
a permanent franchise
fund of Si of 1% on out- to run cars over the
bridge. Operation began on Feb. 5 1910. V. 90.
standing bonds which began Aug. 1 1913 is to be invested
not higher than a 43 % basis, bonds to be kept alive in in these bonds at p. 373, Through passengers only are carried across the bridge and no extra
fund. On Jan. 1 fare is charged.
1917 $21,000 were hold in sinking fund and $8,000 canceled.
The first
Strike.-See New York Rys. on a subsequent page.




58

ELECTRIC RAILWAYS

[VOL. 104

$35,000 annuannum to Jan. 11932: 330,000 per annum to Jan. 1 1937 and
the bonds, but
ally thereafter, said sinking fund to be used in purchasebeofobtained
at par.
fund may be invested in other securities if bonds cannot
guaranty of the Los
Los Angeles & Pasadena 1st Mtge.-Bonds bear the
from
earns.
net
of
out
year
per
Angeles By. by end. Sink,fund of $10,500
int. date.
Dec. 1 1908 to and incl. 1926; callable at 105 on any
Ry.
Angeles
Los
both
I.
by
&
p.
guar.
are
bonds
Lowe
Mt.
&
Pasadena
for those bonds beand Los Angeles & Pasadena Elec. By. A sinking fund
ann. for first 5 years, $7,500
gan 10 years from date of bonds of $5,000 per for
next 5 years and $12,500
per ann. for second 5 years, $10,000 per ann.
interest.
per annum for remaining 5 years. Red. at 104 and
authorized amount, but
stated
no
for
is
Mtge.
1st
Ry.
Pacific
California
g fund and
is limited to 320.000 per mile of completed track. No sinkin
bonds cannot be called. Guar. p.& i. by Los Ang. Trac. Co.;see V.75.13.76Trustee.
Angeles,
Los
•
Co.
Trust
Title Insurance &
date at 105 and int.
Los Angeles-Pacific RR. 1st iftge.-Red. on any int,$10,500
per year out
Sinking fund began June 10 1908 until June 10 1926,
Say. Bank, Chic.,
&
Tr.
Illinois
at
payable
of net income only. Int. also
and Chase Nat. Bank, N. Y.
callable. Sinking fund
Los Angeles-Pacific RR. 1st Cons. Mtge.-Not
(out of net earns, only) to
began April 1 1911 and retires $10,500 annuallyBank,
Los Angeles, trustee.
and incl. April 11929. Citizens' Trust & Say.
. payable at Crocker
Los Angeles Hermosa Beach oh Red. Ry. 1st Mtge.-Int
1 1913 and retires $10,500
Nat. Bank, San Fran. Sink,fund began May
Not callable.
11942.
May
incl.
and
to
only)
income
net
of
(out
ann.
per
t bonds are reserved to
Los Angeles-Pacific RR. 1st & Ref. Mtge.-Sufficien
to which $50,000 per ann.
retire prior liens. A sinking fund began in 1908,5
$70,000 per ann.
Is payable first 5 years, $60,000 per ann. next years,
per ann. next 5 years.
next 5 years,$80.000 yearly following 5 years,$90,000ann.
thereafter. Not
3100,000 yearly following 5 years and $150,000 per
subject to call.
1911 to 1915.
fund,
sink.
a
Los Angeles Pacific Co. Gen. Consol. bonds have
ann.; 1921 to 1925. 340,000
$10,000 per ann.; 1916 to 1920. 315,000 per
and 1945
ann.,
380,000
to
1944,
1931
ann.;
per
ann.; 1926 to 1930,375.000
0 auth.. $5,000,000 are reto 1946, 390000 per ann. Of the 312.500.00
callable.
MANHATTAN AND QUEENS TRACTION CORPORATION.
not
are
Bonds
liens.
prior
for
over the served
to call as a whole or in
Los Angeles Pacific Co. 1st Ref. Mtge.-Subject
ORGANIZATION.-Incorp. In N. Y. on Nov. 4 1912 to takeCity
(see part
105 and int. on 3 months'
on and after Jan. 1 1915 on any int. date at or
rights and property of the South Shore Trac. Co. in New York
agency in New York.
in
V.
95,
office
By.
1).
Jamaica
&
company's
Manhattan
under
at
also
and
payable
under Patchogue.
notice. Interest
SouthSinking fund of $5,000 per annum began In 1910. Guar., p. & I., by
1207, 420; V. 94, p. 1696.)
stock and ern
Co.
Asked Public Service Comm.for permission to Issue $1,500,000
Pacific
began
fund
Sink,
authcallable.
Comm.
S.
P.
the
-Not
1914
10
on
March
Mtge.
but
1st
Ry.
bonds,
Riverside & Arlington
81.500.000 1st M.5%
and int. the entire net inissue of $807.000 Sept.
1900 as follows: After payment of exps.
orized only $765.000 capital stock and recommended the
under trust
n stock. come 5
net proceeds from sale of property applicable
entire
and
bonds at 85. No stock outstanding; only $20,000 subscriptio
in 1904 and thereafter until
Action on the bond issue was deferred until the company should have filed deed to be set aside each year to and incl. 1903;
proceeds from sale of property.
its _proposed mtge.for $10,000,000 with the consent of stockholders. V.96, all bonds are paid, 75% of net income and-$50.000
are reserved for the
withdrawn.
Bonds.
was
5%
Mtge.
application
1st
1915
Ry.
In
523.
St.
p.
Redlands
1:0• 790: V.98,
and bonds are not callable.
$291,815; net, after previous issue of 8% bonds. No sinking fundsbegan
EARNINGS.-For year ending June 30 1916, gross,
July 1 1912 and retires
fund
-Sinking
Mtge.
1st
Ry.
Central
$65,974.
surplus,
Redlands
$19,474;
annum foltaxes. $82,488; other income, $2,960; rents,
11917,$2,000 next 5 years, 33.000 per
a street $1,000 per annum to July
following 5 yrs. Not callable.
ROAD.-Has a franchise in the City of New York to operate terminal
lowing 5 years, 34.000 next 5 years and 35.000
fund retires $10,000 per annum
-Sinking
Mtge.
surface railroad over the (.)ueensboro Bridge from the Manhattan
1st
Redondo
&
Angeles
Los
and
.
thereof. along Thomson Ave., Hoffman Boulevard, and other streets
net earnings. Bonds are not redeemableto
the City out of surplus andValley
call at 105.
avenues in the Borough of Queens to the boundary line between
Traction 1st Mtge. bonds are subject Nat.
San Bernardino
to operate
Bank.
First
at
and
Redlands,
Bank,
Nat.
of New York and the County of Nassau, together with the right
First
at
Int. payable
in
are
cars
and
completed
been
has
line
The
Bridge.
upon the Queensboro
le Ave. In Los Angeles.
& ref. Mtge. bonds are red. at 105. Sink.
1st
Trac.
operation to the intersection of Sutphin Road and Lambertvil
Valley
Bernadine
San
to Lambert1916 pays
Queens. The extension from the L. I. RR.station at Jamaica
fund retires at 105 and int. 12 bonds during 1913-15 (incl.) during
yrly.:
ville Aye, was completed April 26 1916. Total miles single track equiv., 21. off 13 bonds; during 1917 14 bonds; during 1918-27 pays off 25 bonds
each year.
bonds
38
1932
CarF.
and
R.
1931
-Ps.,
V.
yrly.;
bonds
Severson;
B.
S.
37
Mgr..
1928-30
Gen.
&
during
OFFICERS.-Pres.
Sink
int.
and
101
at
red.
are
bonds
Sec.
Asst.
Mtge.
Coleman;
1st
G.
Ontario & San Ant. Heights
butt and H. B. Weaver; Sec. & Treas., Lindley
thereafter.
fund 1914 and following 4 years 1% of outstanding bonds. 2%
kAss1 Treas., F. H. Adler.-V.96, p. 360, 790, 863; V. 98. p. 523.
EARNINGS.-For years ending June 30:
Balance,
Interest,
Other
Net (after
Gross
June 30
Deficit.
Income. Rents,&c.
Taxes).
Earnings.
LOS ANGELES, CAL.
32,346,629 $37,301 $3,205,664 $821,734
38,856,796
6
rl
a
e
Y
1915
683,521
3,082,879
48,130
2,351,228
PACIFIC ELECTRIC RAILWAY.
8,874,507
1914-15
All the stock except directors' shares is controlled by Southern Pacific Co.
railway system centering at
ROAD.-Operates an interurban electricLos
Mr. H. E. Huntington owns considerable amounts of the various bond
Angeles, San Bernardino
Angeles, extending into the counties of
Issues of this company,and has pledged them as security under the Hunting- Los
Pasadena, San Bernardino
of
Riverside and Orange and serves the cities
ton Land & Improvement collateral trust issue.
Ontario, Santa Ana, Long Beach
Pomona,
Redlands,
Colton.
Riverside,
a merger
Redondo, San Fernando, Owens
ORGANIZATION.-Incorp. in California on Sept. 1 1911 asp.
Venice, Ocean Park. Santa Monica,
667):
operated, single 'track, 1,058.37
of the following subsidiaries of the Southern Pacific Co.(V. 93.
mouth and Lankershim. Total miles miles
San Bernardino Valley Traction Co. of
second and other main track
320.86
Pacific Electric Ry.
track,
main
miles
812.33
which
By.
Central
Standard gauge. 49 electric
Redlands
turnouts.
By.
and
Interurban
Angeles
sidings
Los
and 125.73 miles of
San Bernardino Interurban By.
locomotive. 673 motor cars and 1,260 non-motor
Los Angeles & Redondo Rt.
steam
1
s,
locomotive
and 3 portable
Los Angeles Pacific Co.
Riverside & Arlington Ry.
cars (incl. 25 trailers): 3 power stations. 43 sub-stations
of sub-stations. Power purchased from Southern California Edison Oleo.
During 1912 acquired the right of way and all rail lines andofequipment
San Francisco; Sec. & Aud., H. A.
Shoup,
Ontario
the
Paul
property
the
.-Pres..
purchased
and
Co.
OFFICERS
Land
Electric
the Pacific
San Francisco; Gen. Mgr..
Culloden, Los Angeles; Treas., I. W. Hellman,
& San Antonio Heights RR.
Pacific Electric Bldg., Los Angeles.Operates under lease the Riverside Rialto & Pacific RR.-passenger J. McMillan. General offices.
V. 102, p. 251; V. 193. p. 1637.
132;
p.
101,
V.
1675;
1593,
1367,
p.
99,
V.
service only.
In Feb. 1917 the Cal. RR. Comm. dismissed the applications of Palms,
LOS ANGELES RAILWAY CORPORATION. qualifying shares, is
Richardson, Bairdstown and certain sections of Hollywood for a reduction
The entire $20.000.000 stock, except directors'
in fares to a straight 5-cent fare to the city limits.
amounts of differby Mr. H. E. Huntington,and,along with certainBy.
owned
.
Maturity.
Outstanding
Interest.
Date.
BONDS(see above), is
Electric
STOCK AND
ent bond issues of this company and the Pacific
$74,000,000
nt collateral
Improveme
&
Land
Stock $100,000,000 ($100)
Huntington
the
for
5 M-S
31.854,000 Sept 1 1961 pledged as security
First ref mtge $100,000,000 1911
ee V. 98, p. 527.
c*_ tf Int. at U.S. Mtge.& Tr. Co., N. Y., Trustee trust issue-s
gold see text
WM organized Dec. 2 1913 to merge the
Company
By.
Angeles
Los
The
8,411,000 Jan 1 1942
the City By. Co. of Los
Pac El Ry 1st mtge $10,000,- 1902 5 g J-J
San Fran.. Trustee. Los Angeles By. Corporation and its subsidiary,
5 1915 the Cal. RR. Comm. denied0
000 gold ($1,000)_ _c_ ntf Int. at Union Trust Co.,
950,000 Jan 1 1928 Angeles (V. 97. p. 1733), but on March
J-J
for the $20,000.00
exchange
in
Los Aug & Pas El By M $1,- 1898 5 gTr.
stock
0
$20.000,00
to
issue
application
& Say. Bk., Chic., Trustee. its
stock of the City By. and to
000,000 g guar ($1,000) c* Int. at Ill.
stock of the Ry. Corp. and the $5,000,000bonds
were to be issued in exor at Chase Nat. Bank, New York.
Can be called at 105---ntf
0
323,544,00
which
under
mtge.
a
execute
1
Feb
236,000
1935
companies or bonds assumed by
Ont & San Ant Heights 1st M1 1910 6 F-A Tr. Co., Las Aug., Trustee.
change for outstanding bonds of the two
Los Angeles Railway Corporation
$1,000,000 ($1,000) s f_ntflInt. at Southern
480.000 June 1 1930 them. V. 100. p. 901, 982. The
7 1910 as slICCOSSOr to Los
November
Pas & Mt L 1st M 8500,0001 1900 4 g J-D
on
California
in
d
incorporate
was
c*-ntflInt. at Union Trust Co.. San Fran.. Trustee. Angeles Railway and acquired all the city narrow-gauge lines owned
gold (31.000)
1
1941
July
480,000
Interurban Railway, and
1901
g
Angeles
5
Cal Pacific By 1st mtge goldl
by Pacific Electric Railway and Los
By. and California-Pacifie
c ntf Int. at Co.'s office in N. Y.& Chase Nat.Bk. those
($1.000) guar
portions of Los Angeles & Redondo
101928
June
10,000
through Hawthorne
J-D
running
5
1898
line
first
RR
d-west
ific
east-an
an
Los Angeles-Pac
of
Los Ang.,Trustee. Ay. Co. lying north
business of Los Angeles.
mort gold 31,000,000c* ntf Int. at °Ms.Tr.& S. Bk..
Athens. thus comprising all the street railway
1,465,000 Apr 1 1931 and
5 A-0
miles of track is on private right of way. All
85
than
Los Aug-Pea RR 1st con mtge 1901
More
1386.
p.
V.
91.
San Francisco.
1940.
$1,500,000 g (31.000)--ntt Int. at Cracker Nat. Bank,
and practically all down-town line franchises extend beyond
74,000 May 1 1942 main line
Angeles, incorporated
Los Aug Her B & Red 1st M 1902 5 g M-N
Owns entire $5,000,000 stock of the City By. of Los
Trustee.
1766.
V.
n.
p.
91,
the
corporatio
for
lines
now
$500,000 gold ($1.000)_ntf Title Ins. & Tr. Co., Los Ang..Sept
build
to
1910
.1 1943 in Dec.
3,242.000
6 1915 the District
Los Angeles-Pacific RR firstf 1903 5 g M-S
Favorable Decision.-In a decision handed down Aprilof
Co., Trustee, or at Court
tho company to
and ref mtge 35,000,000 Int. at Los Angeles Trust
of Appeals in Los Angeles sustained the right
U. S Mtge.& Trust Co., N. Y., Co-Trus. charge
c*_ntf
the city to Eagle Rock, Glassel and other points
from
gold ($1.000) s f
fares
10-cent
2
Jan
1946
1,233,000
1906
g
5
gen(
p. 1438.
Los Angeles Pacific Co
Co.,San Fran.. Trustee, n that district. See V. 100,
consol mtge 312,500,0001 Int. at Union Trust
Interest. Outstanding. Afaturity.
STOOK AND BONDS- Date.
Nat. Bank, Lo.
0 Dec 1 1940
0001
:
gold ($1.000) sinking fund 1 or at Farmers'& Merch.
0
8050
:0
0
24
$1
0
820,000,00
Bank,
Yorks
New
Stock
Nat.
Chase
or
Angeles,
c*_ntt
g J-D
&
5
ref)
let
1910
Corp
By
Angeles
8.298,000 Jan 1 1905 Los
Trustee.
Bank,
Savings
Los Ang-Pac Co 1st ref mtge 1910 4 g J-J
&
Trust
}
M $20.000,000 g ($1,000) Los Angeles
Fran., Trustee.
$20,000.000 g ($1,000) c*tt Union Trust Co. of San500,000
c*I
Jan 15 1932
sinking fund
1 1938
Oct
4,852,000
Los Ang & Redondo 1st mtge 1902 5 g J-5
A-0
g
5
1899
35.000,0001
M
Trustee. Los Aug By
$500,000 g ($1,000)_c*_ntf Int. at Union Trust Co., San Fran.,
c* Int. at Union Trust Co., San Fran., Cal.• Tr.
gold ($1,000 each)
200,000 Aug 14 1919
250,000 Dec 1 1938
Riverside & Arlington 1st M 1899 4 F-A 14 Co..
J-D
g
5
M
1st
cons
1898
Trac
Angeles
Los
Trustee.
Fran.,
San
ntf Int. at Union Trust
$200.000 gold
St. Louis Union Tr. Co., St. Louis, Trustee.
gold 3250,000 (31,000)44,000 Oct 1 1931
5 A-0
3,893,000 Feb 1 1941
San Bernard Vail Trac 1st M 1901
5 F-A
By of Los Angeles 1st M 1911 Los
c*.ntf Title Ins. & Tr. Co.. Los Aug.,rustee City
Ang. Tr.& S. Bk., Los A.. Trus.
gold $250,000
at
lInt.
gold.c*
(31.000)
35.000,000
Sept 1933
at office of trustee.
Is
payable
San Bernardino Valley Tr 1st] 1903 5 g M-S & 817.000
bonds
M.
r
.
&
1st
Bonds.-Int. on
Tr. S. Bk. of Cal.,Trustee
Ang.&
ref mtge S1.000,000 gold }Int. at Las Ang.
arrangement at Anglo & London
Bankers Trust Co., New York, and by
Bonds have sk. fd.
to
call.
not
subj.
PZsink fund ($1,000)c*&r.ntfj
are
Bonds
Fran.
San
Bk.,
$50,000 Aug 1 1919 Paris Nat.
be invested in
Redlands St By 1st M g 350.-1 1899 6 F-A
(Incl. s. f. on underlying bonds) to securities;
first
Ins. & Tr. Co., Los Ang., Trus of 310.000 per month
less, or in approved
or
000 (31,000. &e) redeem 1Title
int.
and
at
105
bonds
&
ref.
first
Cal.
int.at First Nat.Bank.Redlands,
bonds are held
3668,000
kept
be
alive,
at par; no sink fund_ ntf
to
f.
s.
for
purchased
& ref. bonds
1931
1
Sept
27,000
M-S
5
days'
30
On
1901
gold
1273.
M
1st
p.
By
V.
95,
St
1383;
p.
Redlands
sink. fund. V. 92. p. 262; V. 94. the
ntf Title Ins. & Tr. Co., Los Aug., Trustee. in
National City Bank, N. Y. Int.
$150,000
notice int. may be made payable at
Int.at First Nat.Bank,Redlands,Cal.
New York. $341,Angeles Trac. issue paid at Chase Nat. Bank,Co.
Los
the
on
1937
1
July
67,000
J-J
5
of L. A. 1st M.
1907
M
1st
By
Redlands Central
in sink. fd. City By.
bonds
M.
Angeles
Los
By.
000
Trustee.
Cal..
B.of
Tr.&S
amount of bonds
principal
of
annum
per
gold 8500.000 (31.000)_ntf Int. at Los Ang.
2%
of
fd.
sink.
a
have
bonds
retira
fund.
to
funds
sluicing
provide
in
to
are
bonds
mtge.
began Jan. 11916; $73,000
BONDS.-Pacific Elec. Ry. 1st ref.
purposes. Bonds to which
underlying bonds; also for acquisitions and for corporate
EARNINGS.-For years ending Dec. 31:
Balance.
Interest &
Net
at time of issue by direc- Fiscal
Expenses &
Gross
bear interest at such rate or rates as may be fixed The
Surplus.
In
Taxes.
issued
are
bonds
Revenue.
Deprec'n.
Revenue.
tors, not exceeding, however, 5% per annum
Series "A" $1,000 191Year$3,950,493 $1,914,068 $1,665,323 3248,745
$5,864,561
series, Series "A" being the only series issued. Denom.
1,672,175 265,734
1,937,009
$10.000 per year.
4,200,055
6,137,964
-other series, $1.000, $500 and $100. Sinking fund
468,374
1,609,494
and int. Other series 1915
2,077,868
4,684,255
6,762,123
Series "A" Is subject to call from Sept. 1 1916 at 110
1914
directors.
of
board
by
fixed
be
to
price
at
11910
Sept.
of
72, 87 and 116-1b.
after
track;
60.
call
subject to
s 391.58 miles
-Comprise
Y.
PROPERT
retire
to
is
reserved
amount
Pacific Elec. Co. 1st Mtge.-A sufficient
passenger cars, of which 480 are of P-A-Y-E
g Jan. 1 rails. Owns and controls 883cars,
prior issues. Sinking fund Is $5,000 per annum, commencin
and 97 work cars, &c. lies favorable
misc,
1 1917; $15.000 per type,182 center and 221 Pacific
1907. for 5 years; then $10,000 per annum to Jan. 1
Lt. & P. Co., the current being distributed
the
with
contract
power
per
325,000
annum to Jan. 1 1922; 320.000 per annum to Jan. 1927;

Interest. Outstanding. Maturity.
STOCK AND BONDS- ,Date.
$3,235,000
Stock $5,000,000 ($100)1925
50,000
Flushing & College Point 1st 1895 5 g J-D
mortgage $50,000 gold__ __ Now York Trust Co.. Trustee.
1924
1
Dec
150,000
J-D
g
5
1894
Newtown By first mortgage
New York Trust Co., Trustee.
$150,000 gold
1.500,000 July 1 1922
Steinway By first mortgage 1892 6 g J-J
Co., N. Y. City. Trus.
$1,500,001)($1.000) g___c* Int. at Guaranty Tr.1,300,000
Oct 1 1946
New York & Queens County{ 1896 4 g A-0 Co.,
New York, Trustee.
Trust
Mercantile
mtg
$3.000,000
consol
first
New York.
company,
of
office
at
Interest
gold $1,000 each
See text Nov 1 1936
4 g M-N
First & refunding mtge.$10.4_1906
Trustee.
York,
New
Co.,
Trust
Windsor
c*f
000,000 gold ($1,000)*4.795,623
Current;liabilities Mar.31 1917
companies.
* Includes $4,444,789 bills and accounts owing associated
as collateral for
Of the new $10,000.000 mtge.. 32,086,827 are depositedare
reserved for
loans from Interborough Rapid Transit and $3.065,000
Under the
call.
to
subject
not
are
bonds
and
fund
sinking
No
prior liens.
bonds out$2,500.000
NT. Y.& Queens Co.1st cons. M.there were originally
of int., reorganizastanding, but the company having defaulted In payment
d $1,200,000, interest
tion was made, under which the holders surrendere
Y.. was made the new
was reduced to 4%,and the Mercantile Trust Co., N.int.
V. 69. p. 906.
and
105
at
redeemable
are
bonds
said
trustee. The
70.62 miles of
ROAD.-The system, with the Queens Railway, embraces
31.95;sidings.
track,
second
miles;
trolley track,including main line, 36.82
1.85. Rails 70 to 116 lbs., standard gauge; 228 pass. cars, 32 others.
REPORT.-For fiscal years ending June 30:
Net. Other Inc. Int.&Taxes. Deficit.
Gross.
Year$1,435,765 356,806 $2,156 $353,533 $294,570
1915-16
312,352
345,321
30,963 - 2,006
1,365,041
1914-15
OFFICERS.-Pres., W.0. Wood; V.-P., W. L. Pepperman: Sec., H.
M.Fisher; Treas.. J. II. Campbell.-V.86. p. 548; V. 88, P. 375.




MAY,1917.]

ELECTRIC RAILWAYS

GEORGIA LIGHT, POWER
84 RAILWAYS
AND ITS SUBSIDIARY COMPANIES
\\, MACON and ATLANTA, GEORGIA

GAINESVILed

L

FOR SYTH
Bel;nont

CUMMING

59

"ENTRAL GEORGIA POWER CO.. AND
Cr...'TRAL GEORGIA TRANSMISSION CO..
TRANZNIISSION LINES IN OPERATION.

Flowery
Branch /
JEFFERSON

A

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Roswell,
WINDER

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60

ELECTRIC RAILWAYS

[VOL. 104.

in New
Light & Water Co. Does entire gas and electric-lighting business
Grove and,
Albany and Jeffersonville, and supplies also Port Fulton, Silver
Clarkville. Franchises, 45 years in New Albany and 50 years in Jeffersonville from 1902; in other towns from 20 to 40 years. Guarantees the
$250,000 first mortgage bonds of New Albany Street Ry. Co.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
$1,000,000
Stock $1,000,000($100)_
660,000 See text
First mtge $750,000 ($1,000) 1902 5 g J-J
LOUISVILLE, KY.
c* Interest at American Trust & Savings Bank.
gold
CO.___A
holding
company.
at Eliot Nat. Bk., Bos.
and
Trus..
LOUISVILLE TRACTION
Chic..
750,000 See text
Dissolution.-It is proposed to dissolve this holding company to reduce
5 g J-J
1904
taxation of First consolidated mortgage
Trust & Savings Bank.
the Federal State taxes at a saving on the present basis ofwill
$1,500,000 gold (5500 and{Interest at American Eliot
exchange
Nat. Bk.,Boston.
at
or
between $35.000 and $40,000 yearly. Preferred stockholders
Trus.,
Chic.,
c*
$1,000)
basis; holders
a like amount of
their stock for Louisville Ry. pref. stock on a share for share
Bands.-$660,000 first consols are reserved to retire
each 3 shares
Both issues mature serially from
of common stock will receive 2 shares of railway common forapproximatel
retired.
been
have
$90,000
and
5s;
first
y
of traction common, reducing the capitalization from stock pays an 1907 to 1942, but the bonds of 1902 may be called at 105 and int.; the new
$12,000,000 to about $8,000,000. The present common rate on the new consols are callable after July 1 1924 at 105 and int. See V. 79, p. 2458.
annual dividend of 4%. It is understood that the dividend
1915-16. 1914-15. 1913-14. 1912-13. 1911-12.
Year end. June 30common stock will be 6%.
5334,033 5331,595 5334,730 $317,625 $312,682.
earnings
1903 and Gross
218,363 230,304 221,579 202,361 200,702'
taxes
and
ORGANIZATION.-Incorporated in New Jersey on July 5 Holders
exp.
Operating
of
Co.
acquired practically all of the stock of the Louisville By.
three
received
cash,
in
$55
of
$115,670 $101,291 $113,151 $115,264 $111,980.
common stock of Louisville By.. on payment
Net earnings
of old stock held. Interest,
73,454 71,393
84,648 80,859 76,728
&c
shares of new common stock in exchange for each share received
for
share
Ry.
Louisville
the
of
stock
preferred
old
Holders of the
The new com520,432 $36,423 $41,809 $40,587
$31,022
share of new preferred, with a bonus of 20% in common. to
Balance
be used for
Pres. Chester P. Wilson; V.-P., Frank P. Smith; Sec..
pany provided the Louisville Ry. Co. with needed money
common stock IraOFFICERS.improvements, the railway company issuing $1,100,000
Guthrie, all of'Indianapolis; Treas., J. F. Stratton, New Albany,
of Ind.E.
therefor. See V. 79. p. 968. In April 1907 authorized common stock
1794; V. 82. p. 871; V. 85, p. 737, 1466.
p.
81,
-V.
the Traction Co. was increased from $12,000,000 to 1615,000,000. V. 84,
Co.
(a) Louisville& Southern Indiana Traction
to
p. 931. In April 1908 preferred stock was increased from $2,500,000
. in Indiana under the General Railroad
ON.-Incorp
ORGANIZATI
all
par,
at
Interurban Railway
$3,500,000 and the additional 51,000.000 offered to stockholders
Indiana
Southern
the
to
successor
is
Laws in 1903. and
of which was taken.
for 25 years from Aug. 1
Co. Leases the New Albany Street Railway Co.yearly
The old Louisville By. Co. was incorporated Jan. 22 1867, and is a Kenrental of $500, the.
a
at
years)
25
for
renewal
of
privilege
(with
1903
and
Louisville
of
tucky company, owning all the street railways in the city
stock. V.77.
int. charges and taxes and divs. of4% on $100,000 preferred
its suburbs. It has 55,500,000 common stock and $2,500,000 preferred.
Highland RR. for $10,000 in bonds.
the
acquired
1904
Sept.
In
are
769.
p.
Franchises
Co.
Traction
Louisville
practically all owned by the
Ry. See
City
Jeffersonville
the
acquired
1905
Dec.
In
1643.
p.
79,
V.
freight..
partly for 99 years from 1886 and partly perpetual.
interest of V.81, p. 1792. Franchises are for 50 years; also permitted to carry
The Louisville & Interurban RR. has been organized in the lines.
Maturity.
Outstanding.
No
Interest.
Date.
interurban
and
urban
of
STOCK AND BONDSthe Louisville By. to construct a system
$2,000,000
to that Common $2,000,000($10)_
securities have been issued except $4,000,000 stock (increased
432,480
1911 Louis- Pref 6% cum $1,000,000 ($10)
amount in February 1913) to Louisville Ry. Co. In Jan.
whose First mortgage $1,000,000 1903 5 g M-S15 1.000,000 Sept 151923'
ville & Interurban RR. acquired the Louisville & Eastern RR.(all ofall
& Say. Bank, Chicago.
the
gold MOO and $1.000)--c* Int. at Amer. Trust
bonds, construction notes, receivers' certificates, &c., and about
and U. S. Trust Co., Louisville, Trustees.
stock, was owned by Louisville & Interurban), sold at foreclosure on Jan. 3
250.000 Aug 1 1927
New Albany St By 52500001 1902 5 F-A
1911. V. 92. p. 59. 262.
at U. S. Trust Co.. Louisville, Trustee.
!Int.
int_
and
prin
guar
Maturity.
($1,000)
Outstanding.
Interest.
STOCK AND BONDS- Date.
call after 10 yrs. at
to
subj.
are
but
fd.,
sk,
no
Bonds.-lst M. bonds have
Q-J $11,889,700 Apr'17,1%
Common $15,000,000
St. By. bonds are subj.
A-0
3,500.000 Apr 17, 2Si 105 & int. See V. 77. p. 769 2339. New Albany
Pref 5% cum $3,500,000
Gas & Elec.
United
by
guar.
are
and
int.
&
105
at
int.
date
any
on
4.035,000 Feb 1 1950 to call
Louisville By gen mtge gold 1910 5 g F-A
leased from
ROAD.-Operates 33 miles of track, including 1036 miles
$20,000,000 ($1,000)__c*tt Interest at German Bank, Louisville.
Albany and JeffersonNew
between
line
also
and
By.
Street
1
Albany
July
1930
New
6,000,000
J-J
g
5
1890
Louisville By cons M gold
was comLouisville
to
extension
An
in
Jeffersonville.
lines
of Commerce, N. Y.; ville, and city
$6,000.000 (list N Y)...c*tf Int. at National Bank
Four" RR. for the use
Fidelity-Col. Tr. Co., Louisville, Trustee. pleted in Sept. 1905. Has a contract with "BigRailway
allowing Its
Co.,
Louisville
and
with
River
Ohio
over
1
Mar
bridge
2,000.000
1940
its
of
Louisville Ry 2d mtge. $2.-1 1900 4% g M-S
terminal on Third St..
cars to enter Louisville. Has erected an interurban
000,000 gold (31.000)___tffInterest at German Bank, Louisville.
90 lbs.; T and girder rails, 75 and 7734 lbs.
Bonds.-$8,000.000 of the gen. mtge. bonds of 1910 are reserved to retire Louisville. Girder rails.
Co.-V.81.p.1792.
Ltg.
&
Ry.
Nor.
&
Loulsv.
for
as
are
-Same
.
Bonds
OFFICERS.
prior liens; the remainder is for extensions and improvements
not subject to call. Ficiellty-Col. Trust Co., Louisville, trustee.
semifirst
the
corn.
On
annum.
per
5%
Dividends.-On Traction pref.,
McALESTER, OKLA.
annual dividend, ig%, was paid Oct. 1 1904. In 1905, 3%. In 1906.
CHOCTAW POWER & LIGHT CO. on June 27 1916 to take over
and 1907, 4%. In 1908, 3%. 1909 and since, 4% per annum.
. in Delaware
ON.-Incorp
ORGANIZATI
ROAD.-The Louisville By. Co.owns 175% miles of track on 779( miles the light and power business of the Choctaw Ry. & Lighting Co. sold at
owns the entire $600,000 capital stock of
ofstreet, with 13% miles outside city limits; all is electric. Affords entrance
and
1539)
(V.
p.
102,
foreclosure
Ind.
into Louisville for the Lou. & Nor. By. & Ltg. Co. and Lou. & Sou. Jef- the Pittsburgh County Ry., incorp. in Oklahoma June 24 1916, to take
in
Trac. Co. The Louisville & Interurban operates 102 miles of trackOldham
over the street railway properties.
Interest. Outstanding. Maturity.
ferson County, incl. extensions to La Grange and to Shelbyville in
STOCK AND BONDS- Date.
51.000,000
and Shelby counties.
Common $1,000,000
250,000
REPORT.-Of Louisville Railway Co. for fiscal years ending Dec. 31: Pref 7% cum $250,000_
Int.& P1. Div. Common Balance, First mtge gold ($1,000 and 1916 5 g M-S
Other
900,000 Sept 1 194/
Net
Gross
Cal.
of N. Y., trustee.
Co.
Tr.
Guaranty
Year. Revenue. Earnings. Income. Taxes. (5%). Dividend. Surplus.
at
JInt.
c*tf
$500)
$91,265
$545,650
$125,000
per annum from
$936,801
1%
$180.000
6
of
fund
96,81,518,71
191633.080,2
Bonds.-Open issue authorized. Impt.
% 1934-1937;2% 1938-41.
1915- 2,940,501 1.414.770 180.000 922.144 125,000 545,650 1,976 1921-1925;1 % 1926-1929; 1%% 1930-1933;
1914- 3,166.482 1.369.818 180.000 876.225 125,000 545.650 2.943 $100,000 not ncl. in amount outstanding held in the treasury.
and
From the surplus as above in 1916-$91.265-there was deducted
ROAD.-The Pittsburg County Ry. operates in cities of McAlester the
$85,000 for depreciation, leaving $6,265.
Hartshorne, and an interurban line, over private right of way, between
OFFICERS.-Pres., T. J. Minary; V.-P., A. P. Humphrey; Sec.' & two cities. 23.26 m. of track. Standard gauge; rail, 66-70-lb. T. 12
Treas., Samuel G. Boyle.-V.104, p.952, 1387, 1485. 1702.
passenger cars, 7 other cars.
OFFICERS.-Pres.,C. N. Mason, N. Y.; V.-P., J. A. Trawick, Boston;
INDIANAPOLIS & LOUISVILLE TRACTION RY.-A trolley road
Sec.-Treas., S. M. Bachman, N. Y.: Gen. Mgr., W. H. Vorce, McAlester.
ORGANIZATION.-Incorp. In March 1912 in Indiana as successJr to N. Y. office, 71 Broadway.--V. 103. p. 940.
the Indianapolis & Louisville Traction Co., sold at foreclosure on March 21
1912. V. 94, p. 911. Franchises in cities and towns are for 50 years from
MACON, GA.
1905; remainder is on private right of way.
map on page 69).GEORGIA LIGHT. POWER & RAILWAYS. (See
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
a voluntary association formed under Massa-Is
ION.
ORGANIZAT
$596,200
Common stock $600,000_
all the corn. stock of Macon By.
acquired
Has
1911.
Sept.
in
laws
chusetts
576,750
Preferred stock $600,000_
corn. & pref. stocks of Macon Gas Co.,
849.800 April 1 1942 & Light Co., practically all the
Georgia Power Co. and
First mortgage $1,500,000 gl 1912 5 g A-0
$3,660,000 (of the 54,000.0001 stock of the CentralTransmission
Co. Also
($100. $500 & $1,000) _eta f Int. at Colonial Trust Co., Pittsb., Trustee.
Georgia
Central
the
of
stock
capital
entire
the
Bonds.-Of remaining 1st M. bonds $650,200 are for impts. and extent'. owns over $1,798,000 6% securities of its constituent companies issued for
at80% of cost. Subj. to call on any int. date at 105 and int. Sink,fund of new construction. &c.
2% per annum begins Oct. 1 1917,increasing 1% each year to and including
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
0
000
0000
40
60.:0
270
7:5
April 11921, then reduced to 1% per annum thereafter.
$3
$8,000,000($100)_
19t41
teltex
Se
sep
EARNINGS.-For year ending Dec. 311916. gross, $148,411; net, after Common
Q-J
($100)
n-c
6%
$2,000,000
Pref
$45.759.
M-S
taxes, $56,538. In 1915. gross. $137,902; net, after taxes,
5
t
s
r
i
F
.
o
C
1911
f
lien mtge $6,500.000
run
Cars
Seymour.
to
.20
19
stee
Seliersburg
ru
ob.
Trustee.
T
from
textY
York.
e
track
New
of
miles
ROAD.-40.9
York Trust
_
c*&r_1New
gold ($1,000)
Ry. &
from Sellersburg to Louisville over tracks of Louisville & Northern
of the Ind. Col. Cony debs $1,000,000 gold 1917 6 F-A
634,500
Ltg. Co. and from Seymour to Indianapolis over the tracks
Louisville to Demand notes
as to prin.
& South.(Interstate Public Service Corp.). Through cars from75-lb.
Stock and Bonds.-Pref. shares are callable at 110 and are pref.
T rails.
Common stock
Indianapolis were put into operation in 1008. Standard gauge;
and dividend' are listed on Pittsburgh Stock Exchange.
Ind.;
Scottsburg.
Greeley,
E.
John
The
Mgr..
stock
exchanges.
Gen.
&
London
Pres.
and
OFFICERS.is listed on the Pittsburgh Chicago
V.-P., Mark Storen, Scottsburg, Ind.; Sec., Nathan G. Eyster, Pitts- remaining $2,926,000 first lien bonds are reserved under careful restrictions
burgh, Pa.; Treas., Jas. C. Chaplin, Pittsburgh, Pa.-V. 100. p. 738. for acquisitions of other securities and for extensions and impts. Bonds are
P.& Rye. Red. at
secured by deposit of all the securities owned by Ga. Lt.
at office
LOUISVILLE & NORTHERN RAILWAY & LIGHTING.
105 & int, on any int. date on 30 days' notice. Prin.& int, payable
Annual sk. fd..
London.
Scotland,
of
Bank
control.
or
are
in
Y.,
Co.
N.
Co.,
Utilities
&
West
of A. B.Leach
Interests identified with the Middle
to 1925 and $100,000 1926 to 1940.
ORGANIZATION.-Incorporated under the general railroad laws of $50,000 1916 to 1920. $75,000 1921Chicago,
Pittsburgh and London stock
Indiana in Dec. 1905. $900,000 of the $1,000,000 stock of the United V. 93, p. 1532. Bonds are listed on
issued and deposited as colGas & Electric Co. and $232.700 stock of the New Albany Water-Works exchanges. $705,000 debentures have been
are conCo. are deposited under this company's mortgage. Also controls the lateral to demand notes of the company. The debentures of 1917
electrical
the
stock.
purchased
Has
pref.
Co.
Traction
into
Indiana
vertible
&
Southern
Louisville
Jan. 1
to
1913
paid
1
Jan.
from
were
bridge
the
leases
of
and
Dividends.-Quarterly divs. 136%
equipment of the Kentucky & Indiana Bridge Co.
1915, Incl.; none since.
for 25 years, thus affording independent entrance into Louisville. Com1400):
1382,
p.
(see
V.
1916
104,
to
31
in
addition
Dec.
business
ending
year
freight
and
-For
and
express
REPORT.
lighting
pany does electric
and expenses, $201,Interest and dive., $249,619; less int. charges, salaries
passenger business. Road is mainly on private right of way.
total deductions,
$115,576;
and
divs.,
int.
1915,
In
$47,914.
surplus,
705;
Maturity.
Outstanding.
Interest.
and its
MISTOOK AND BONDS- Date.
$182,439,• deficit, $66,863. The combined results of the company
$3,499,000
Common $3,500,000
subsidiaries, with inter-company items eliminated, were:
916,900 See text
91-J
Interest. Bat.,Sur.
Pref $1,500,000 Series A & B_
f
(a
t.Taxes).
Net
Gross.
Covered-Period
1
1925
500,000 Dec
First mortgage $2,500,000 g{ 1905 5 g J-D
$87,790
$399.571
1
$440871:73763
5950,855
year 1916
c* Int. at American Tr. & Say. Bank, Chicago, Calendar_year
20,594
($500 and $LOW)
839,203
Calendar ea 1915
Trustee, or at Eliot Nat. Bank, Boston.
1, entire electric
3 t17e9
operates
companies
controlled
gh
RTY.-Throu
PROPE
Bonds.-Unissued bonds can only be issued for 80% of cost of property railway and gas business in Macon; furnishes electric light and power in
built or acquired. Are subject to call at 105 and int. V. 82. p. 868. and Macon, Monticello. Forsyth, Barnesville, Griffin, Bibb, Thomaston and
STOOK.-The Series A pref. stock is 6% cum.,the Series B is cum.
in Atlanta.
Ga.; also sells a large amount of electricity
.1. D. Everitt; Sec. &
Is entitled to 2% in 1906, 3% in 1907,4% in 1908,5% in 1909 and 6% In Hampton.
OFFICERS.-Pres.,Geo. P.Toby, N. Y.; V.-P.,
E. Fulcher.-V. 95, p.
1910 and thereafter.
W.
Treas.,
Asst.
&
Sec.
Asst.
Lasher;
B.
F.
Treas.,
Dividends.-Dividends from July 1 1906 on both classes of pref. stock
912, 1844; V. 102, p. 1436; V. 104, p. 1382, 1400.
were paid at rates called for up to April 1909, when 34% was paid on both 544: V. 98, p.
(1) Macon Railway & Light Co.
classes; same amount quarterly since to April 1917.
& Rya.
Entire common stock is owned by Georgia Lt., Power
ROAD.-Operates 20 miles of track, Louisville to Sellersburg, with a line
Oct. 23 1902 by the
ORGANIZATION.-Incorporated in Georgia onof
branching off at Watson and running to Charlestown. At Sellersburg
the
Macon Consoliconsolidation
a
as
of
America
Co.
to
Seymour, where Railways & Light
connects with Ind. & Loulsv. Trac. Ry. Co., running
Electric Light & By., the North & South
connection is made with the Ind. Col. & So.(Interstate Public Service Co.), dated Street By., the Macon
By
city ordinance
The
Street
Metropolitan
the
and
The
Indianapolis.
and
By.
Street
Louisville
Macon
thus forming a through line between
on Sept. 16 1902, granted a 50-year
line from Louisville to Charlestown will form part of a through line between permitting the consolidation, passed
733.
p.
75.
V.
see
terms.
rail.
For
T
70-1b.
franchise.
gauge.
Standard
Cincinnati.
Louisville and
in May 1612)
Control of the Georgia Public Secy. Corp. (Incorp. in Ga.By.
OFFICERS.-Pres., Chester P. Wilson; V.-P.. Frank Smith; Sec., Ira
& Lt. Co.
interests friendly to the Macon
E. Guthrie, all of Indianapolis; Treas., J. F. Stratton, New Albany, Ind.- was acquired In Oct. 1913 by
1286.
p.
07.
V.
Co.
Pow.
Georgia
Central
and
V.82, p. 509,868: V. 94. p. 1626.
of
$700,000
issue
the
sanctioned
Commission
In June 1914 Georgia RR.
additional common stock, making the total $1,600,000. of the company
(1) United Gas & Electric Co.
petitions
the
denied
Comm.
the
RR.
1915
the
24
On
Aug.
ORGANIZATION.-Incorporated in Indiana in 1902 and acquired
Serv. Corp. to Increase electric light and power rates
New Albany Gaslight & Coke Co., New Albany Light, Heat & Power Co.. and the Georgia Pub.
Jeffersonville Electric Light, Heating, Gas & Coke Co. and Jeffersonville in Macon. See V. 101, p. 694.

1
, through the corporation's own transmission system, comprising 432.56
miles of line and 10 sub-stations.
Howard
Mgr.,
Gen.
&
-P.
V.
OFFICERS.-Pres., H. E. Huntington;
Huntington; Sec. & Treas., C. A. Henderson.-V.97, p. 521. 1733; V. 98,
,p. 523; V. 100, p. 1348. 1438; V. 101. p. 370; V. 103, p. 320.




MAY. 191.7.]

ELECTRIC RAILWAYS

61

Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
On Oct. 9 1916 the P. S. Comm. of Now Ramp.auth.
the Manchester &
Common $1,600,000 ($100)-$887.700
Nashua St. By. to increase its fares from
5 to 7 cents, effective Oct. 16
Prof $300,000 ($100)6% curn_ ____
6 A-0
See text. 1916, but recommended the retention
283,600
5 g J-J
Macon Ry & Lt 1st cons nage' 1903
959,000 Jan 1 1953 and the sale of commutation tickets onof existing rates for school children
a 5-cent fare basis.
g$1,000,000 ($1,000) _Ott Int. at Equitable Tr. Co. N. Y., Trustee.
STOCKDate.
Interest. Outstanding. Maturity.
Macon Bloc Lt & Ry 1st mtgo 1899
6 g J-.1
42%500 Jan 1 1929
85,000.000 (1100)______
$100.000 ($500) gold _c*tf Int. at Equitable Tr. Co., N. Y. Trustee. Stock
Q-J
33.680,000 Apr.•17.2%
15
First
consol mtge $2,000,000! 1901
Bonds.-Macon Ry. & Lt. 1st consols are subject to call on any
5 g A-0
1,750,000 April 1 1921
' interest
gold ($1,000)c•nttlIntere
st at American Trust Co., Boston, Tr.
date at 110 and int. $41,000 bonds, $12,300 corn. and $16,400 prof. stock Manchester
Electric
Light Cot, 1897
5
g
are held by Savannah Trust Co. to retire the $42.500 bonds remaining out.
A-0
166.000 Oct 1 1917
first mtge $250.000
tf f
See V. 76. P. 212.
& Nashua lstJ 1906
Dividends.-6% per annum has been paid s.-a,on pref., 1903 to Apr. Manchester
5 g J-D
200,000 June 1 1926
M
gold
$300,000 (81,000)tf Int. at
1917 incl.
Tr. Co., Boston, Trustee.
Man & Derry St Ry 1st mtge 1907 American
5 J-D
125,000 Dec 1 1927
ROAD.-Owns and operates about 36.14 miles of track, all of which has
$500.000 ($1.000) guar tf Int. at American
Tr. Co., Boston, Trustee.
been re-laid with 70-1b. rails. 54 cars.
Coupon notes 32.000.000 1915
5 g J-D
1,000.000 June 1 1918
EARNINGS.-For years ending Dee. 31:
gold ($1,000 & $500)__c*tf Int. at Amer. Trust Co.,
Boston, Trustee.
Bonds.
Gross
-Of
ending
Net
the
(after
new first consolidated mortgage, $250,000
Year
Interest on Pref. Div. Baldnce,
are reserved to
Earnings.
Taxes).
Dec. 31Bonds, &c.
(6%).
Surplus. retire the bonds of the Manchester Electric Light Co. $84.000 of that com$496,717
pany's
$168,244
bonds
1916
have
been
purchased
$98,411
$52,817
for
$17,016
the sinking fund. The Manchester
430,869
&
Nashua St. Ry. and the Manchester &
1915
102,415
95,005
17,016 def.9,606
St. 11y. bonds are guaranOFFICERS.-Pres., Wm. II. Felton; V.-P., P. G. Gossler; Sec., E. W. teed, prin, and int., by Man. Trac., Lt. &Derry
Power Co. The notes are callaCabaniss; Treas., Richard Oudersluys.-V. 97, p. 1286; V. 101, p. 694.
ble as a whole at 101 and Int. on any int. day on 30
days' notice.
PROPERTIES.-The different roads controlled comprise
(2) Macon Gas Co.
track, as follows: Manchester Street Railway, 42.726 65.479 miles
ORGANIZATION.-Incorp.in Ga.in 1852. Was formerly Macon Gas of
miles; Manchester & Nashua Street By., 14.335 miles; Manchester
& Derry St. Ry..
but in Oct. 1911 transferred its water plant to the city 8.418 miles. 106 passenger and 18
Lt. & Water
misc. cars. 4 hydro-electric plants
Co.,to present title. Controls entire gas business of Macon, present capacity
and changed name
apprex.
10.000
steam
reserve stations at ManchesPractically all the $475.500 coin. and $20,000 pref. stock is owned by Ga. ter and Nashua, capacity 2,600 h. p.; 2
h. p. and 2,000 h. p., respectively.
Lt., Power & Rys. Company has no bonds.
Dividends.-First dividend of 3% on July 15 1901; paid
6% per annum
Decision.-On Nov. 3 1914 Judge Mathews in the Superior Court sus- to and including 1906;
since
8%
per annum. 5% extra div.
1911-12.
tained the demurrer of the company to a petition of two minority stockREPORT.-Of the Manchester Tree.. Lt. & Pow. Co. andinManchester
holders asking for the appointment of a receiver and
an order directing Street By. for years ending Dec. 31:
the company to sever its relations with the Georgia Light. Power & Rys. Co. Year end.
Gross
Net (after
Interest, Bond SinkBalance,
The petition was dismissed except that part under which an injunction was
Dec.
Earnings.
Taxes).
&c.5
Fund. forDirs.,&E
granted previously, to restrain the company from increasing its capital 1916 31- $1.486.88.5
$643,485
$141,340
$3,000
$499,145
stock above $500,000. See further particulars in V. 99, p. 1455.
1915
1.356,448
594,968
139,545
3,000
452,423
EARNINGS.-For years ending Dec. 31:
• Includes portion of Manchester St. Ry. surplus not applicable to
ManGross
Dec. 31
chester Trac.. Lt. & Power. Co.
Net (after
Interest
Preferred
Balance
Earnings.
YearsOFFICERS.Taxes).
Pres., E. C. Foster; V.-P. & Gen. Mgr., J. Brodie Smith;
on Notes.
Divs.
Surplus.
$134,615
1916
$42,781
$12,635
$29,146 Clerk, Edwin F. Jones; Tress., P. L. Saltonstall; Asst. Treas., Clement R.
$1,000
139,738
1915
45,282
11,856
32,426 Ford.-V. 99. p. 1673; V. 100, p. 1514, 1752, 2009; V. 102, p. 66.
1,000
Has 3 gas holders and over 54 miles of mains, &c. Output
now exceeds
100.000,000 cu. ft. per annum.-V.93, p. 942. 1537; V. 99. p. 1455.
MANSFIELD, OHIO
(3) Central Georgia Power Co.
MANSAELD PUBLIC UTILITY & SERVICE CO.
Georgia Lt., I'ower & Rys. Owns $3,660,000 stock.
ORGANIZAT
ION.-Formed in 1915 by the holders of the $350,000
ORGANIZATION.-Incorp. In Ga. on March 4 1907 as Bibb Pow. Co.
pref. stock of the Mansfield By., Lt. & Pow. Co. (see
and in Jan. 1908 changed name to present title. Began oper. June 11911. Sept.
"Elec. Ry." Sec. for
1915), who had brought suit against the common stockholders
of
STOCK AND BONDS-- Date.
Interest. Outstanding. Maturity. that company, asking for the dissolution
of
the
corporation.
34,000,000
Stock
ordered its dissolution and the sale of its assets (appraised at The Court
$4,000,000
31.430,000).
Mtge $3,000,000 g ($1.000,) 1908
5 M-N
May 1 1938 which were acquired by the new company in Sept. 1915 for $10,000
2.927,600
subject
$500 & $100, or £ equiv-j Empire Trust Co., New York,Trustee.
to the $942,000 bonds shown in the table. V. 101, p. 1189.
Compare
alent)
V. 05, p. 1542; V. 96. p. 83. Stock of new company was
fixed at 3,500
Bonds.-Int. on bonds is payable at office of A. B. Leach & Co. N. Y., shares of $1
eacil. ONVIL9 entire street railway and electric-light systems
or Bank of Scotland, London. Subject to call at 105 and int, for sic fd. or in the city. Cityfranchise runs
till 1925.
any or all at company's option on any int. day. Sinking fund of 1% of
STOOK AND BONDS- Date.
Interest. Outstanding, Maturity.
bonds out began in 1913. V. 88, p. 1199.
Stook
$3.500
(31)
$3,500
EARNINGS.-For 12 mos. ending Dec. 31 1916,
gross, $406,636; not, Citixons' first mtge ($400.- 1901
5
200,000 April 1 1923
$278,750;
after taxes,
int. on bonds, &c., $213,664; surplus, $65.086. In
000) ($500)
Int.
Tr. Co. Cleve., Trustee.
1915, gross, $355,577; net, $257,213; int. on bonds, &c., $210,946; surplus, Mans By L&P germ mtge $1,- 1903at Cleveland
5 g A-0
742%000 April 1 1918
$46,267.
000,000 (3500&$1.000)_c* Union Say. Bk. & Tr. Co., Cin., Truseee.
Bonds.-lnterest on the bonds of the Mansfield Railway Light & Power
PROPERTY.-Owns hydro-electric plant (capacity 16,000 elec. h. p.
ultimately to be increased to 24,000 elec. h. p.) on Ocmulgeo River, near Co. is payable at Union Savings Bank & Trust Co., Cincinnati. 3200.000
Jackson. Transmission lines extend to Macon. Forsyth Jackson, Bibb, bonds are reserved to retire the bonds of the old Citizens' Company and
Barnesville, Thomaston and Griffin, connecting at the /m ast-named point $58,000 for futare acquisitions and impts. A reserve fund of $10.000 per
with the lino of the Central Georgia Transmission Co. (whose entire capi- annum is maintained, to be used for extensions and improvements. Not
tal stock and bonds are owned by Ga. Lt., Power & Rys.), running to subject to call. See V. 76. p. 810.
EARNINGS.-For year end. Dec. 31 1916, gross, $259,239; net, after
Hampton and Atlanta. Total length of transmission lines, 125 miles.taxes, $60,540. In 1915, gross, $248,496; net, $35,607; bond int., $47,100;
V. 93, p. 1536. 1670.
deficit, $11,493.
ROAD.-Owns and operates 9 miles of track In Mansfield and an interMADISON, IND.
urban lino of 12 miles to Shelby; 60 and 70-lb. T rail. 24 cars.
OFFICERS.-Pres., Frederick liertenstein, Cincinnati; V.-P., Reid
MADISON 11611T & RAILWAY CO.
Carpenter, Mansifled; Sec., S. A. Foltz, Mansfield.-V. 101. p. 1189.
ORGANIZATION.-Incorp. in Indiana July
1896. Operates 4
miles of street railway In Madison and supplies light25
and
power
to
Madison,
North Madison, Hanover and rural district. Franchises expire
MARION, ILL.
in 1952.
STOCK AND BONDS.
Date.
COAL BELT ELECTRIC RY.
Interest. Outstanding. Maturity
In 1904 passed into control of the St. Louis Iron Mtn.& Sou. By. Co.
Stock,$150,000
$150,000
First nage $150,000 gold) 1912 6 J-J
Stock authorized and outstanding. $300,000; par of shares, $M.
128,000 July 1 1942
tf pittsburgh,
EARNINGS.-For fiscal year end. Juno 3() 1916, gross,
($1,000)
Pa., Tr. Co., Trustee.
Remaining bonds are reserved for add•ns and
320,762; taxes, &c., $2,767; interest. $18,553; deficit, $558.$84,190; net.
at 90% of cost.
ROAD.-Operates 15.33 miles of track from Marlon to Carterville and
Sinking fund of $1,000 jeer annum from July 1 1917impts.
to
$2,000
1922
and
anHerrin. Standard gauge. 52 to 70-1b. T rail.
nually thereafter, callable at 1023,i and int.
OFFICERS.-Pres., J. G. Drew; V.-P., A. Robertson;
EARNINGS.
-For year ending Dec. 31 1916,
Mgr.,
gross, $59,111; net, $20,- J. F. Murphy; Sec., F. W. Irland; Treas., F. M. Hickman; Gen.
Gen. Aud.,
275; insurance & taxes, $1,619; bond int., $7,740;
J.
0. Livergood, St. Louis; Supt., II. H. Berry.!limo, Mo.
surplus,
$10,916.
In
$16,483;
net,
$53,538;
insurance and taxes, $1,323; bond
1915, gross,
int..
$6,840; surplus, $8,320.
OFFICERS.-Pres., Treas. & Gen. Mgr. Av
MARION, OHIO.
-• P. Tennis; V.-P., Chas.
C. Tennis; Sec. & Aud., M. Robinson.-V. 98,n, 1767.
COLUMBUS MARION & BUCYRUS RY.
ORGANIZATION.-Incorporated in Ohio in May 1913 as a reorganization of the Columbus Marion & Bucyrus RR., sold under foreclosure per
MADISON, WIS.
plan V. 96. p. 1488. 1839.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
MADISON RAILWAYS COMPANY.
Stock,$350.000
$350,000
ORGANIZATION.-Successor in May 1916 to the
First
mtge. $100.000
Southern
tf 1914 6% g
Wisconsin
42,000
1934
By. for statement of which see this Section for May 1916.
Gen&lief
M,$350,000, gold tf 1914
See text.
Franchises
250,000
expire In 1932, 1938 and 1944.
Bonds.-The 1st M. Os are red. at 1023-4 anti int. on any tnt. 1944
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. Remaining $58.000 is held by trustee pending construction of power-hoday.
Stock $600,000 ($100)--The interest on the gen. & ref. mtge. bonds is 3% for the let anduse.
$350,000
let mtge $1,500,000 g($500t 1916
5 g M-N
years. 4% 3d and 4th years and 5% thereafter. $100,000 reserved 2d
May 1 1936 retire
to
and $1,000)
c*_tf Int. at Wisconsin Tr. 852,000
1st M. bonds. V. 96. p. 1488. 1839.
Co. Milw., trustee.
3-year notes ($200,000) gold 1916 6 g M-N
EARNINCIS.-For cal. year 1916, gross, $36,803; net, after taxes.
May 1 1919 $8,168. In 1915.
($500 and $1,000)
C5 tInt, in Chic. Wisc. Tr.200:000
gross,
net,
$32,019;
after
taxes,
$6.467.
CO. Milw., trustee.
Bonds.-Additional bonds may be issued for
OFFICERS.-Pres.. Geo. Whysall; V.-P. & Treats.. Jas. El. Caldwell,
additions, &c.,
for 80% of cost under conservative restrictions. extension
Red. at 1'02 M
sand Int. on Troy, N. Y.; Sec. & Asst. Treas.. R.0. Oswald.-V.99. p. 196. 537.
any int. date on 60 days' notice. A sinking and improvement
fund of 1X %
MARION & SUBURBAN RAILWAY CO.
per annum of bonds outstanding begins May 1 1919 for redemption
of
bonds or improvements, &e. The notes are redeemable at par
Iteceivership.-fnt. due Oct. 1 190918 in default. In Feb. 1910 Geo. Why
and int. nail
on any int, date on 30 days' notice. The following
was appointed receiver. Suit has been brought against the directors
payments are required
to be made into an improvement fund for the redemption
an accounting of the proceeds of bonds. The hearing
was begun before
of notes or for for S.
improvements, &c.: May 11916. $15,000; Nov.
U.
District Judge Hollister at Cincinnati on Oct. 19 1914.
1
1916
and
May
99. p. 1528.
1 1917,
312.500; Nov. 1 1917 and May 1 1918, $15,000, and Nov. 1 1918
ORGANIZATION.-Incorporated In Ohio Sept. 25 1906V.to
build the
and
has
$40,000
now
$17,500.
been paid into fund.
May 1 1919,
necessary extensions of trackage to the local Marion City lines demanded
by the City of Marion. 1
EARNINGS.-For year ending Dec. 31 1916,
miles completed; none in operation; no work is
gross,
$300,051;
not,
being
done.
1915,
gross,$281,678; not,
after taxes,$104,665. In
after taxes,$104,273.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
ROAD.-Owns 17 miles of standard-gauge track, including lines in
Madi- Stock,$250,000
$250,000
son, and extension to Fair Oaks, Elmside, Lake Park
Cemetery and South First mortgage, $250.000,1 1906
5 g A-0
250.000
1936
Madison.
gold ($500)
'Interest at Cincinnati Trust Co., Trustee.
OFFICERS.-Pres., F. W. Montgomery;
Bonds.
-Subject
to
call
after
1912
at 110. Sinking fund of $5.000 per
Dudley
Montgomery;
Montgomery;
annum after 1912.
Sec. & Treas., Warren
Supt., D. Montgomery.-V.
103, p.
OFFICE RS.-Pres., Geo. IT. Belzberg: V.-P., J. G. Webb: Treas.. N. J.
320.
Catrow; Sec.. H. B. liane.-V. 99. p. 1528.

MANCHESTER, N. H.
MANCHESTER TRACTION. LIGHT & POWER CO.
ORGANIZATION.-Incorporated in 1901 in New Hampshire
and comprises the several light, power and street railway
properties in and around
Manchester. The company owns the stock of the Manchester
Electric
Co.,
Manchester Elec, Lt. Co., Manchester St. It.. Manchester
& Nashua St.
By. (name changed from Goffs Falls Litchfield & Hudson St.
By. In Feb.
1907), and maneimester & Derry St. lty. Also owns
capital stock of
the Nashua Lt., lit. & Pow. Co.. which does the entire
light, power and gas
business in Nashua, N. II.
Franchises perpetual. Interurban roads and main
on private right of way, except through cities and townstransmission lines
3-yr. 5% notes were issued to retire $415,000 floating
debt incurred
for additions to plant and to provide for the construction
turbine reserve station with an initial capacity of 8,300 h.of a now steam
p.,
now stool tower transmission lino on private right of way, and a Including a
stub-station
at Manchester.




MATTOON, ILL.

CENTRAL ILLINOIS PUBLIC SERVICE CO.
Controlled by Middle West Utilities Co., which see in our "Railway &
Industrial" Section.
ORGANIZATION.-Incorp. In Illinois In 1902 as the Mattoon
City Ry.
and on Aug. 25 1910 changed its name to the above. V.
91. p. 655. UP
to August 1 1912 did an electric light, power and heat
business
In
Mattoon and an electric light and power business in Charleston and Kansas,
III., besides operating street railways in Mattoon and Charleston
an
Interurban railway between those two points. Since Aug. 1 1912 and
has acquired numerous additional public service properties and now serves
131
communities with an estimated served population of 285.000.
130
of the
131 communities are served with electricity, 6 with gas. 11 with water,
13
with ice, 6 with heating and 6 with street railway service, and
the co. continues to operate the electric interurban line between Mattoon and
Charleston, 111. In addition owns franchises in 4 towns shortly to be
served.
Compare V. 95, p. 1744.

ELECTRIC RAILWAYS

62

In Nov. 1913 increased auth. capital stock from $6,000,000 ($3,500,000
p.
corn. and $2.500.000 pref.) to $10,000,000 (35,000.000 each). V. 97,
pref.
1583. In July 1916 auth. stock was further increased to $7,500,000
and $7,500,000 common. V. 103. p. 406.
$500,000 of
Financing.-On July 1 1916 31,500.000 and on Dec. 1 1916 for
cash addebentures and notes held by the Middle West Utilities Co. 103,
p. 496.
(V.
par.
for
vances were converted into common stock, par
to retire
1887.) In Nov. 1916 $4,000,000 1st and ref. M. 5s were issued
exts.,
for
and
1916
1
Dec.
due
notes
gold
$3,000,000 3-year 6% collateral
&c. V. 103, p. 1887.
Maturity
Outstanding.
Interest.
STOCK AND BONDS- Date.
$6,000,000
Common $7,500,000($100)_
3,225,000 Apr.'17,1 v,
Q-J
Pref6% cum $7,500,000(8100) - 9.057.000 Aug 1 1952
5 F-A
First and refunding mortgagee 1912
c*tflInterest payable In Chicago.
gold (31.000)
775.000
Underlying bonds (closed issues)
1923
110,000
Debentures
Stack.-Pref. stock is red. at 110 and div. Has full voting power. TaxChicago.
Bank,
Savings
&
Trust
Ill.
Registrar,
Illinois.
in
exempt
date.
Bonds.-The first and ref. bonds are red. at 105 on any interest
See V. 95, p.
Additional bonds may be issued under certain restrictions. Comm.
Trust
&
Cont.
1887.
p.
103,
see
V.
bonds,
of
1744. For security
& Say. Bank, Chicago, trustee.
Dividends.-6% is being paid on preferred stock.
EARNINGS.-For calendar years:
1913.
1914.
1915.
1916.
$2,169,649 $1,898,985 $1,851,142 $1,699,607
Gross
574.551
666,032
707,788
849,093
Net, after taxes
PROPERTY,&c.-The co. operates over 880 miles of high-tension transmission lines, 13 central stations, holds 10 stations in reserve and has contracts for power from 7 other central stations. Total generating capacity,
50,000 h. p.
OFFICERS.-Pres., Marshall E. Sampsell; V.-P., G. W. Hamilton;
Sec., E. V. Graham; Treas., Henry M. Brooks.-V. 95, p. 618, 1744;
V. 96, p. 1020; V.97, p. 1583; V. 103,P.406,496. 1887.

MAUCH CHUNK, PA.

CARBON TRANSIT CO.-A trolley road.
a reORGANIZATION.-Incorporated in July 1908 in Pennsylvania as1908.
16
organization of the Carbon Street Ry. sold at foreclosure sale May &c.,
inequipment.
new
n,
reconstructio
by
Property is being improved
cluding the development of Flagstaff Park on Flagstaff Mountain. which is
850 feet above and overlooks the picturesque Mauch Chunk.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$150,000
Stock $150,000 ($50)
150,000 Aug 1 1938
5 g F-A
1st mtge $150.000 ($100 and 1908
c*tf Int. at Mauch Chunk Trust Co., Mauch
$500) gold
Chunk, Pa.. trustee.
46.100 June 1 1940
5 g J-D
Second mtge $100,000 gold 1910
cstf Int. at Mauch Chunk Trust Co.. Trustee.
($100 and $500)
day.
Bonds.-First mtge. bonds may be called at 105 and int.on any Int.
Second mtge. bonds are red. In any amount on any int. day after June 1
1915 at 105.
EARNINGS.-For years ending Dec. 31:
Charges &Taxes. Surplus.
Net.
Gross.
Year$5,790
$12,850
$18.640
$52,871
1916
3,009
12,548
15,557
55,276
1915
9,082
11,753
20,835
65,347
1914
6,684
10,798
51,63717,481
1913
Note.-EarnIngs for 1915 and part of 1916 were affected by unfavorable
weather conditions and insufficient power during changes and enlargement
of power system to utilize the largo banks of cheap fuel owned by the co.
In Sept. 1916 new plant was operating satisfactorily but had not yet been
completed.
ROAD.-Comprises 123 miles of track; 24 cars. Owns about 42 5acres
of valuable real estate, including 75 acres on "Flagstaff Heights."
OFFICERS.-Pres., Wm.Dods; V.-P.,0. H. Lotto; Sec. & Mgr.. J. F.
Geiser, Mauch Chunk; Treas., Geo. H. Mayer.-V. 90, P. 1674.

MEADVILLE, PA.

[VoL. 104.

the right
Court has confirmed the co.'s franchises in all respects, including
1752.) Owns
to charge 5-cent fare. (Compare V. 85, p. 654: V. 100, p.
of
suburbs
incl.
city,
the
of
business
railway
street
and operates the entire
Binghamton, Raleigh Springs and South Memphis and a line to Lake
View, Miss.
In Mar. 1913 purchased the property (excluding the building owned in
Memphis and the car barns) of the Lakeview Trac. Co. (sold at foreclosure
in Sept. 1912) for $160,000. payment to be made in 20-year Lakeview
Traction bonds bearing 2% int. for 2 years, 3% for 3 years, 4% for 8 years
and 5% for the last 7 years. V.96, p. 863.
City Ordinance Not Yet Enforced.-On Mar. 13 1914 Chancellor Fentress
and
granted an injunction restraining the city from enforcing a vexatious
unreasonable ordinance which was to have become effective Mar. 14 1914.
912.
p.
98.
V.
For details of the ordinance see
Strike Settlement-Agreement.-See V. 103, p. 666.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
See text
32,500.000
Common $2,500,000 ($100)_
cuml
Preferred $2,500,000 5%
2,500,000 Dec'16,23
($100) red at 110& accr divsf
8,366,000 July 1 1945
5 g J-J
1 1905
Cons mortgage $10,000,000
Int. at Central Trust Co., N. Y., Trustee.
_
gold (see text) closedc*&r
See text Nov 1 1935
6 g M-N
Gen mtge $30,000,000 gold 1915
($100 & 31.000)_-c*____tf Guaranty Trust Co., N. Y., Trustee.
1,500,000 Nov 1 1917
2-year collateral gold notes' 1915 6 g M-N
c*cptlUnion Trust Co., New York, Trustee.
($1,000)
See text
200,000
6%
1916
Short-term notes
and $10,Bonds.-The consol. M. bonds are in denom. of $1,000 coupon
annum,
per
000 registered. Are not subject to call. Sinking fund $25,000 and $50,000
1925-29
1910-14; $30.000, 1915-19; $35,000, 1920-24; $40,000,
fund;
in
sinking
alive
held
$218.000
1930-45. See V. 82, p. 628, 1496.
Mortgage
remaining $1.416,000 deposited as security for coll, gold notes.
for 2-year notes.
closed. $492.000 gen. NI, bonds are deposited as coll.
exDuring life of notes total issue of gen. M. bonds cannot exceed $650,000
the unissued
cept with consent of two-thirds of collateral noteholders. Ofconsol.
mtge.
the
general mortgage bonds, $9.822,000 are reserved to retire&c.,
under cortain
bonds and remaining $19,686,000 are for add'ns, exts.
' V. 101, p. 1886.
restrictions. Red. at 10234 and int. on any int. date.
The 2-year coll. notes are callable in whole on 30 days' notice at 100% and
int. Secured by $1,416,000 consol. mtge. 5s and $492,000 gen. mtge. 6s•
retired,
The 8600,000 1-year guar. coupon notes due Nov. 1 1916 were
issuance of $360,000
$240,000 out of earnings and the balance through the
short-term notes. The remaining short-term notes mature $50,000 Aug. 1
1917, $50,000 Oct. 1 1917 and 8100,000 Nov. 1917.
Including
Dividends.-On pref. stock 5% was paid from issuance up to and first
div.
Dec. 1914. In 1915. none. In 1916, Dec., 234%. On corn.1914,
June,
-1%-paid June 1912. In 1913, Mar., 1%; Dec., 1%. In '
34 %; Dec., 2%%; none since.
REPORT.-For year ending Dec. 31:
Surplus.
Gross Earns. Net aft.Taxes,&c. Int.0th.Deduc.
Year.
$321,715
$547,819
$869,535
$2,086,468
1916
83,210
553,839
637,049
1,684,109
1915
303,395
639,283
842.678
2,005,963
1914
107-1b.
to
T
80-1b.
to
60
Rails,
track.
of
miles
129.56
ROAD.-Owns
girder. 328 passenger and 27 miscellaneous cars.
L. 14.
-P.,
V.
Tutwiler;
H.
Thos.
Mgr.,
Gen.
OFFICERS.-Pres. &
-V. 100, p.
Wright; Sec. & Treas. W. H. Burroughs; Aud., L. Le May.
666.
p.
103,
V.
2145;
1553,
1092,
370.
'
1257, 1752; V. 101, p.

MICHIGAN CITY, IND.
CHICAGO LAKE SHORE & SOUTH BEND RY.
ORGANIZATION.-Organized in Indiana December 1901.
No securities in hands of public. All owned by syndicate, which has
used them as collateral only.
Maturity.
Interest. Outstanding
STOCK AND BONDS- Date.
$5,000,000
Common 85,000.000(3100)_
1,000,000
Pref $1,000,000 ($100) 6% n-e
4,407,000 Aug 15 1947
5 Er-A 15
1st mtge $6.000,000 (31.000)f 1907
_tflInterest at Cleveland Trust Co.. Trustee.
gold
50,000 Past duo
Equipment bonds, gold (314 1908 6 M-N
clInt. at Cleveland Trust Co., Trustee.
000)
and Onextensions
future
for
Bonds.-Itemaintng bonds are reserved
Sink.
provements. They are subject to call at 102% at any int. period.
2% of
then
years,
10
for
1917
15
Aug.
begins
annum
per
$50,000
fund of
bonds outstanding until maturity.
EARNINGS.-For year end. Dec. 311016, gross, $551,468; not, after
taxes, $164,216; in 1915, gross, $420,420; net, after taxes, $84,110.
ROAD.-Operates a total of 70.86 miles between South Bond and Chicago; 6.7 miles Hammond to Pullman, owned by Illinois Central RR.,
Is leased to Chicago Lake Shore Si South Bend. 70-1b. T-rail.
OFFICERS.-Chairman. F. H. Goff: Pres. and Gen. Mgr., C. N. Wilcoxen; Vice-Pres., S. H.'rolles; Sec. & Treas., R. R. Alexander; Asst. Sec.
& Asst. Treas., Arthur Welsh.-V.86, p. 51. 167,420, 1528: V. 98, p. 386.

NORTHWESTERN PENNSYLVANIA RY.
ORGANIZATION.--Incorporated in Pennsylvania in March 1911 as
successor of the Meadville & Conneaut Lake Trac. Co., V.92, p. 187(a holding company),and its controlled companies,the Meadville Trac. Co.(V.92,
p. 262) and the People's Incandescent Lt. Co., V. 92, p. 1033. Franchises
in Meadville expire in 1944. Interurban franchise perpetual. Affords connection for Penn. RR. System with Meadville.
In the latter part of 1912 purchased the Erie Traction Co. and the Meadville & Cambridge Springs Street Ry.
Franchises.-There are 23 franchises, of which 16 are perpetual, 3 for 99
years, and the shortest does not expire until 1937.
Financing-New Control.-The Northwestern Electric Service Co. has
$193,50
been authorized by the Pennsylvania P. S. Comm. to issuestock,
for
1st pref. stock, $455,000 2d pref. stock and $1,050,000 common
MIDDLETOWN, N. Y.
the following purposes: The 1st pref. stock for working capital, exts..acquiM.
WALLKILL TRANSIT CO.
sitions, &c.; $305,000 of the 2d pref. stock to retire a like amount of 2d
pref.,
2d
Ry.;
$150,000
Pennsy.
d in New York on March 30 1905 as
-Incorporate
Northwestern
ORGANIZATION.
(Erie Div.) bonds of the
pref. stock of successor, under foreclosure, to the Middletown-Goshen Electric Ry and
together with $350,000 common stock, to retire the $500.000
of
the
acquisition
the
for
See V. 80. p. 1059, 1425. Comcommon
Ry.
Elec.
-Bloomsburg
$700,000
the
remaining
Middletown
and
Co..
the
Ry.
the
judgment for
pany was placed in hands of receiver Oct. 1908 on account of abeen
$1,000,000 common stock of the Ry. Co.
paid elf,
having
indebtedness
all
but
motorman.
a
by
obtained
Maturity.
Outstanding.
injuries
Interest.
STOCK AND BONDS- Date.
23
April
1909.
was
discharged
receiver
$1,000,000
Common $1,000,000($50)Interest. Outstanding. Maturity.
500,000
STOCK AND BONDS- Date.
Prof $500,000($50)5% non-c
$350,000
650,000 Mch 1 1941 Stock $350,000 ($50)_____
5 g M-S
- First mortgage $1,250,000 1911
)0.001 May 1 1935
33(5
5 g M-N
c*tf Int. at Central Trust Co., N. Y., trustee.
1st mtge $350,000 gold ($1004 1905
gold ($1,000)
g, Trust.
o..IIarrisbur
1920
1
Dec
Com'w'ithTr.C
150.000
at
'Int.
5%
c*tf
and
1900
Light
$500
$1,000)
People's Incandescent
tf Dela.. Co.Tr. Safe Dep.& Title Ins.Co.,trus.
Bonds.-$50,000 reserved for future improvements. Ara subject to call
Co 1st mtge
250,000 Sept 1 1947 after 10 years at 105.
1st M (Erie Div)$1.500,000 t 1912 5 J-D
305,000 Sept 1 1947
after
2d M (Erie Div) $305,000_ _tf 1912 See text
EARNINGS.-For year ending June 30 1916, gross, $73,795; net,
500,000 July 1 1929
5 g J-J
Erie Trac (Erie Div)$500,000 1907
$2,570; net corporate deficit, $13,339. In 1914-15. gross, $77,168:
c*tf Int. at Secur. Say.& Tr. Co., Erie, Trustee. taxes,
gold
$18,333; net corporate income, $2,691.
taxes.
after
net,
1918
1
Mar
165.000
Collet trust notes $165,000 1913 5 M-N
from Middletown,
ROAD.-Operates 12.84 miles of track extendingturnouts,
($100, $500, $1,000) _ctf Int. at the Sec. Say.& Tr. Co., Erie, Trus.
&c. Rails
N. Y.. to Midway Park, Goshen. Including switches,
Stock.-Entire common stock is held in voting trust.
gauge.
Standard
girder.
90-lb.
and
80
and
T
b.
liens, 65-l
Bonds.-Of the 1st M.of 1911. $150,000 are reserved to retire prior
memioslits.-Pres. & Gen. Mgr., DeWitt C. McMonagle; V.-P., Ohas
remaining bonds are for impts., extensions and acquisitions under certain
Weiss. Harrisburg. Pa.: Tress.. W. NT OgIoshv, Harrestrictions. Subj. to call on any int. date at 105 and int. Annual s. f. A.Kunkel; Sec., J. F.
p. 998. 1059, 1425, 2346.
of 1% of bonds out began Nov. 1 1914. Bonds retired to be kept alive. risburg, Pa.; Aud., Miss M.L. Robinson.-V.80,
bonds,
Div.
$500,000
Erie
M.
1st
the
$1,500,000
Of
V. 92, p. 1033. 1436.
and
extensions
are reserved to retire the Erie Trac. bonds and $550,000 for
betterments and $200,000 are in treasury. Sink.fund, 1% annually, comMILFORD, MASS.
mencing April 1917. Erie Trust Co., Erie, trustee. The 2d M.bonds bear
MILFORD & UXBRIDGE STREET RY.-Trolley.
2% int. the first year, advancing 1% yearly to 5%. Int. J.-D. Colonial
On July
ORGANIZATION.-Incorporated in Massacnusetts in 1901.
Trust Co.,Pittsburgh, trustee. The Erie Traction bonds have a sink,fund
entire capital stock with the Milford
of $20 for every $1,000 1st M.bond, beginning July 1 1917 (denom. 31,000, 10 1902 consolidated by purchase ofOperates
RR.
Upton
&
the
Grafton
St. Ry.
$5.000 & $10,000). The coll, trust notes are secured by deposit of $200.000 Holliston & Framingham Milford
to North Grafton, 15.37 miles, and the
purchase-money mortgage bonds. Redeemable at 101 and accrued Interest (V. 104, p. 73, 163) from
miles.
21
RY..
St.
Medway & Dedham
on 4 weeks' notice.
Interest. Outstanding. Maturity.
STOCK AND BONDS-- Date.
ROAD.-Operates 11 miles of track in Meadville. 1634 miles between
$440,000 Oct.'16,234
A-0
Stock corn $440,000 ($100)___ ____
Meadville and Linesville, incl. a 2-mile extension to Conneaut Lake,
100,000 See text.
J-J
At
miles.
70
($100)
track,
Total
Erie.
$100,000
and
Preferred
Meadville
between
42
miles
and
165,000 ,Ian 1 1918
J-J
g
5
1898
1st
mtge.
From.
M. Troll. &
Linesville connects with the Penn. RR. System.
Boston, Trustee.
Co.,
3165,000($1,000) g__c*ntf Int. at Amer. Trust 335.000
Jan 1 1918
EARNINGS.-For year ending Dec. 31 1915, gross, $269,027; net. Milford & Uxb gold bonds 1902 5 g
Boston.
Trustee
Co..
$64,980. In 1914, gross, $361,701; net, $83,145.
Trust
Amer.
at
Int.
C*ntf
(31.000) gold
Erie.
OFFICERS.-Pres.,George A. Gaston,N.Y.; V.-P., F. F. Curtze,Mgr.,
0; In 1912 and since,6%
5%
in
1911,
34%;
In
1910.
On
pref..
Dividends.--T
3%;
1907,
134%;
1904,
Pa.: Sec., Wm. Goodman, N. Y.; Treas., Charles Fehr, Meadville;
per annum. On common, in 1901 to 1903, 6%;
Oct.
Charles M. Hatch, Erie. General office, Meadville; N. Y. office 30 1908,
19'; 1901, 3%; 1910 and 1911. 4%; 1912, 534 %; thereafter to
Broad St.-V.92, p. 1436; V. 95, p.420; V.08, p. 74. 237; V.98, p. 1246. 1916, 5% per annum. No later information.
30:
June
year
fiscal
ending
--For
EARNINGS.
Net (after Deduc- Pf.Dio. Corn.Div. Stop. or
Gross
June 30
MEMPHIS, TENN.
Deficit.
(670)• (59').
lions.
Earnings. Taxes).
YearMEMPHIS STREET RAILWAY CO.
$272,318 $58,0P6 $29,924 $6,000 $22,000 sur. $102
American Cities Co. (see under New Orleans) owns 86% common and 1915-16
22,000 def.2,190
6.000
29,9i4
55,804
255.592
1914-15
88% preferred stock.
and
ROAD.-Owns 36 miles of track, from So. Framingham to Uxbridge
ORGANIZATION.-Chartered in Tennessee on March 28 1895 and conto Medway and Hopkinton. Also operates the Grafton &
solidated with the Citizens' St., East End St.. City & Suburban and Mem- from Milford
&
the
Medway
and
miles,
15.37
Grafton.
to North
phis & Raleigh Springs lines;franchiser eun until Nov. 1945. The Supreme Upton RR.,from Milford




MAY. 1917.1

•

ELECTRIC RAILWAYS

63

Dedham St. Ry., 21 miles. Also controls Lake Nipmuc Park. 60 pas-'
Valuation.-For physical valuation by Wisconsin RR. Comm. In June
cars. 13 snow plows and 4 miscall.; 134 electric motors.
1911 see V. 93, p. 164.
On Jan. 30 1915 the Wisc. RR. Comm. rescinded its order of Aug. 23
OFFICERS.-Pres., D. E. Manson, Boston, Mass.; V.-P., Joel A.•
Sperry, New Haven; Sec., Wendell Williams; Treas., J. E. Walker, Mil- 1912, requiring the sale of tickets in packages of 13 for 50 cents instead of
ford; Supt.. W. L. Adams, Milford. Mass.-V.74. p. 1308; V. 76, p. 102: 25 for $1.
Fare Increase.-This company and the Milw. Lt. Ht. & Trac. Co. in
V.88, p. 375; V. 90. p. 914; V. 91. p• 463, 1160.
Nov. 1915 petitioned the Wisc. RR. Comm. for an increase
in fares to insure a reasonable return, claiming that the present
rates were confiscatory.
In Jan. 1917 the Comm. denied the co.'s "emergency
MILLVILLE, N. J.
petition for fare adjustment to enable the co. to place its employees on an"8-hour
day basis and
MILLVILLE TRACTION.-A trolley road.
to permit a further increase in wages to cover the increased cost
of living.
On July 11 1916 the Wisc. RR. Comm. auth. the co. (a) to buy
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
the plant
and
property
of the Commonwealth Power Co. of Milwaukee for $1,100,000.
$175,000
Stock $175,000.
5g
208,000 Aug 1 1914 and (b) to issue $300,000 notes in part payment for the property and $1,1st mortgage $400,000 gold I 1894
c* lnt. at Land Title & Trust Co., Phila.. Trutt. 000,000 in notes to reimburse the treasury for cash used in buying the
($1,000 each)
property, and for impts. and ext. to its own property. The
"Other debts" Dec 31 1915
161.814
notes are secured
by bonds of the Milwaukee Elec. Ry.
Bonds.-Not subject to call.
& Lt. Co.-V. 103, p. 493.
On
Feb.
20
1917
the
stockholders approved the purchase of the CommonEARNINGS.-For year 1916, gross, $59,110; def,from oper., $489. In
wealth Power Co. and the Continental
Realty
and the arrangements for
1915. gross, $50,402; def. from oper., $4,365.
the acquisition of part of the property of the Co.
Milw. Lt. Ht. & Trac. Co.,
ROAD.-Operates 6.47 miles of track in Millville,0.536 miles in Vineland which see above.
Township
of
Landis; total, 12.547 miles.
and 5.541 miles in
STOCK AND BONDS-- Date.
OFFICE RS.-Pres., George Wood; V.-Pres., R. D. Wood; Sec.. G H. Common
Interest. Outstanding. Dividends.
stock $20,000.000
Thomas; Treas.. Daniel C. Lewis.
(par 8100)
$9.850.000
Preferred stock $4,500.000
6% non-cum (par $100)
• MILTON, PA.
4.500.000 Apr '17. 154
The Milwaukee Elec Ry & 1896 5 g V-A
Feb 1 1926
LEWISBURG MILTON & WATSONTOWN PASS. RY.-Trolley.
Light Co cons. mtge $8,- Central Trust Co. N.6.500.000
Y.,Trustee.
payORGANIZATION.-Chartered Sept. 3 1897. In 1910 Whittaker &
000,000 gold ($1,000)___c*
able at co's office, 30 Broad St.,Int.
N. Y.
purchased
control
Harrisburg
The
Milw
from
Diehl of
Elec Ry & Light 1906 454 g J-J
the Railways Company General.
6.728,000
Jan
1
1931
Co ref & ext mtge $20,000,- Trust Co. of America, New York, Trustee
Under contract with Penn. RR., the Lewisb. Mil. & Watsont. Pass. Ry.
000 gold ($1.000)
agreed to install storage-battery cars on some 11 miles of track between
c. Interest at company's office
Montandon and Mifflinburg. and to operate a line in conjunction with Gen & ref mtge $90.000,000 1911 5 J-D
5.805,000 See text
gold ($1,000)Ser "A".c.ee JInt. at N.Y. Bankers Tr. Co.. N.
steam use of that section of road, connecting with present trolley line at
Y.. Trus.
East Lewisburg.
Notes (see text)
1,300,000
STOCK AND BONDS-- Date.
Stock and Bonds.-The bonds and the pref. stock are listed on the N. Y.
Interest. Outstanding. Maturity.
Stock $150,000
Stock Exch. Of the ref. and ext. bonds, 56,500.000 are reserved for prior
$150.000
First mortgage $300.000 gold' 1910 5 g F-A
175,000 Feb 1 1940 liens and $6,772,000 are deposited as collateral to gen. and ref. mtge. bonds.
c*fInt. at Land Title & Tr. Co.,Phila., Trustee.
($500)
Bonds are subject to call from Jan. 1 1916 at 108 and interest. No sinking
Bonds.-Remaining bonds can only be issued for improvements and ex- fund. See V. 81, p. 1724, 1792; V. 84, p. 508. General and
refunding
tensions at 80% of cost. Sub. to call as a whole on any int. date
after mortgage falls due Dec. 1 1951, except that in .the event the company
Feb. 1920 at par.
has not acquired a franchise extending to 1954 on or before Dec. 1 1931,
EARNINGS.-For 12 months end. Dec. 31 1916, gross, $63,089; net, the mortgage becomes due on that date. Bonds of Series A are redeemable on any interest date at 105 and interest, on 6 weeks' notice. $13,228.after taxes, $18,034. In 1915, gross, $48,186; net, after taxes, $8.713.
are reserved for prior liens; remaining 70,967,000 are for extens.,impts.
ROAD.-10 miles of track between points named in title. 11 overhead- 000
and acquisitions, at 80% of cost thereof under certain restrictions.
No
operation cars. 2 storage battery cars run from Montandon to Mifflinburg. sinking fund. See V. 93, p. 1787. Bonds
OFFICERS.-Pros., John F. Whittaker; V.-P., L. G. Brown; Sec. Sc $6,772,000 ref. & ext. bonds and $750,000 listed on N. Y. Stock Exchange.
pur. money mtge. of the Central
Treas., D. L. Diehl; Asst. Sec.& Treas.. W.B. Rankin.-V.90. p. 1363.
Heating Co.of Milwaukee are deposited as collateral for the gen & ref. bonds.
ROAD.-Total track operated, 180.21 miles, of which 167.24 miles
owned
and 27.51 miles leased. Steam power plants have aggregate capacity
MILWAUKEE, WIS,
of 71.150 k. w. 537 passenger cars.
THE WISCONSIN EDISON CO.. INC.
REPORT.
-Fiscal years ending Dec. 31(1916 report in V. 104, p.
ORGANIZATION.-Incorp. in N. Y. on Nov. 7 1912 to take over the
1039.)
1916.
1915.
1916.
1915
North American Co.'s holdings in Milwaukee and other Wisconsin public Gross
$6,961,151 $5,971,715 Gross income_52,107,001 $1,836,155
utilities. Owns or controls, through stock ownership, the following cos.:
Expenses
3,628,145 3,085,877 Interest
759,394
Milwaukee Light, Heat & Trac. Co. North Milwaukee Light & Power Co. Deprec'n,
793,570
&c_ 865,898
656,125 Preferred divs. 270,000
Milwaukee Elec. Ry.& Light Co. !Wells Power Co.
270,000
Taxes
437,280
422,879 Common diva. 1,058.875
Wisconsin Gas & Elec. Co.
763,375
On Apr. 29 1914 the company filed a certificate of increase of capital
Net
$2,029,828 $1,806,834
Surplus_ _ _ $18,732
$9,210
stock from 300,000 to 400.000 shares, to provide for conversion of the con- Other
income_
77,173
29,321
vertible bonds.
Passengers carried in 1916, 107,528,091, against 91,400.946 in 1915.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
Dividends.-Regular quarterly dividends of 154% have been paid on
the pref. since Feb. 1900.
Stock 400,000 shares (no par
value)
215,000 sh.
See text
OFFICERS.-Same as for Milw. Lt., Ht. & Trac. Co.-V. 101. p. 923,
Debella $10,000,000 (81,000.
1465; V. 102. p. 800, 969; V. 103, p. 493, 1413; V. 104, p.863, 1039.
1801.
$500 and $100)
c* 1914 6 g M-N
6.500,000 MAy 1 1924
(b) Wisconsin Gas & Electric Co.
Debentures convertible into stock at $80 per share to May 1 1923; red.
ORGAN1ZATION.-Succeeded in 1912 the Racine Gas Light Cc
at 102 on 60 days' notice. V. 98. es 1128.
Dividends.-A div. of $1 75 was paid June 1 1914; in Dec. 1914 also paid corp. in Feb. 1867) and acquired the Kenosha Gas & Electric Co. and In$1 75. In 1915, June. $1 75; Dec., $1. In 1916. June,$1 75; Dec.. $1 75 nosha Electric Ry. Does entire gas business in Racine, Kenosha.
South
and 75c. extra. In 1917, Apr., $1.
Milwaukee, Cudahy and Watertown; the entire electric lighting, power
se'
street railway business in Kenosha, and the electric light and power
REPORT.-For cal. years (combined properties).
busiWatertown,
ness
Burlington,
in
Operating
Lyons.
Net (after Non-Op.
Calendar
Springfield,
Johnson's Creek, JefInterest
Balance
ferson Junction. Menominee Falls, Lannon, Corliss, Ciyman and ThiensRevenues. Taxes, ctc.). Revenue.
YearsCharges
Surplus. villa, and wholesales power for
$10,175,072 $2,940,660 $111,753 $1,332,825
supply to Fort Atkinson,Lake Mills, White1916
$1,719.588 water, Palmyra, Lake Geneva,
1915
Deiavan and Elkhorn. Electric light and
8,805,3802,604,0490115
1,361,406
1,294,058 power business in Kenosha is done
under indeterminate
Franchise
Income Account of Wisconsin Edison Co.
for street railway extends until 1952. The company haspermit.
the right to conCalendar
Divs.&Int. Exp.,Int.L%
Net
Divi- Balance, duct its gas business either under an indeterminate permit or under the
YeatReceived.
Taxes.
Income.
dends. Surplus. special (perpetual and exclusive) franchises originally granted.
1916
$1,430,882 $459,262 $971,620
In July 1915 increased auth.rommon stock from $1,000,000 to 51.750.000
$913,750 $57,870
1915
1,058,396 457,681
600,715
591,250 9,465 and issued $657,500 of the new stock to acquire the Watertown Gas & Elec.
Co. and the Burlington Elec. Lt. & Pow. Co. (both controlled by the WisOFFICERS.-Pres.. Jas. D. Mortimer; V.
-P. H. H. Pierce; Sec., consin Edison Co.) and to discharge $162,000 floating debt
James F. Fogarty; Treas., Geo. R. Sheldon; Asst.
incurred in makRobt. Randall; ing additions and betterments.
Asst. Treas., Root. Sealy and Ferdinand Sherwood.Sec.,
-V. 99, P. 1456; V.
In Oct. 1916 $300,000 additional 1st M.5s were issued. V.103, p.
1902;
V. 103, p. 2245.
102, p. 523, 891, 1065,
1432.
STOCK AND BONDS- Date. Interest. Outstanding.
Maturity.
(1) Milwaukee Light. Heat & Traction Co.
Corn stock 81,750.000($100)_11.657.500
The capital stock is practically all owned by the Wisconsin Edison Co.
Prof cum $1,000,000 ($100)----6%
200,000
ORGANIZATION.-Incorprated Dec. 1896.
First mortgage gold (31,0001 1912 5 g J-D
2,650,000
1 1952
Does an extensive street
c* Interest payable in New York. June
& $500)
and interurban railway
and power business, serving_MilHarris
& Savings Bank, Chicago, Trustee. Tr.
t
waukee, South Milwaukee, Cudahy, fiacale,
Wauwatosa. North Watertown Gas & Elec 1st MI 1905
Milwaukee,Whitefish Bay, Fox Point, WestKenosha,
5
J-D
140,000 June 1 1921
Allis, Waukesha, Pewaukee.
8300,000 gold. Red at Int. at Bank of Watertown.
Hartland Oconomowoc, Watertown, St. Martins, Muskeg() Lakes.
Wisconsin
Muk10254
Trust Co., Milwaukee, Trustee.
wonago, East Troy. Waterford, Rochester and Burlington.
Wisconsin
Edison
the
Bonds.-AddItIonal 1st M.bonds may be issued only for 80% of
During 1916
Co.and the Milwaukee Elec. Ry.& Lt.
cash cost
Co. returned to the co. $6,189,000 of its Ref. & Ext. M. bonds and
of permanent impts., &c., when the annual net earnings are 154 times
$9 - int.
the
000,000 of its capital stock .held by those companies,
charge, incl. bonds to be issued. Bonds red. at 105 and int.
in
exchange
for
$9,on and
000,000 common stock of the Milw. Elec. Ry. & Lt. Co. owned
June 1 1917. $30,000 Watertown G. & E. 5s are held in treasury.
by the after
Light Heat & Traction Co.and a corresponding increase in its
EARNINGS
-For
.
year
ending
Dec. 31:
(Compare V. 86, p. 286.) The Ref. & Ext. bonds returned floating debt.
YearGross.
Net (after Tax.) 0th. Inc. Interest.
were canceled
Surplus.
and the mortgage satisfied of record, and the
$1,143,791
8293,495
825,549
capital stock retained in the 1916
$139,559
$179,485
treasury of the co. It is planned to convey a large
1915
950,737
255,900
15,416
part of the property now
137,766
133,550
owned by the co. to the Milw. Elec. Ry. Sc Light Co.,
the remaining propPROPERTIES.-Miles of single track. 7.851:miles of gas mains, 203:
erty to go to the Wisconsin Gas & Elec. Co.
OFFICERS.-Pres., J. D. Mortimer; V.-P.. S. B. Way;
Fare Increase.-See Milw. Elec. Ity.ds Lt. Co. below.
F. J. Boehm.-V. 102, p. 1352; V. 103, p. 1432; V. 104. p. Sec.-Treas..
STOOK AND BONDS- Date.
1806.
Interest. Outstanding. Maturity.
Common stock $30,000,000$1,000.000
WISCONSIN TRACTION, LIGHT. HEAT & POWER CO.
Milw Lt H St Tr Co 1st M e
g
l
1899
5
g
M-N
5,000,000
May
1 1929
ORGANIZATION.-This company was incorporated at Milwaukee
gu $5,000,000 ($1,000) g.c* Int. at Equitable Trust Co., N. Y., trustee.
in
Mar. 1900 with nominal capital of $10,000 (since increased
1st M.bonds may be call at 110 on any int.
000),
They are guar., for the purposea of uniting
certain properties in the Fox to 31.000
prin. and int., by endorsement, by The Milwaukeedate.
Elec. Ry.& Light Co. Secured
Valley.
control of the Fox River Valley Electric Ry. and River
(V. 86, p. 1042)•
the Appleton
Electric Light & Power Co., and has consolidated them. In
Sept. 1904
ROAD.-Total mileage,exclusive of controlled Milw.Elec. Ry.& Lt.Co., purchased
entire capital stock of the Fox River Valley Gas & Electric
237.72 miles. 80-16. T rail. 137 passenger cars. Steam power
Co.
guarantees
and
bonds,
plant
its
prin.
&
has
int.
See
V. 79, p. 787, 1267.
9.009 k. w. capacity.
In Mar. 1914 the Wisconsin Supreme Court sustained
the State RR.
REPORT.
Comm.in holding. in company's suit against the city of Menasha,
-Fiscal years ending Dec. 31:
the
1,1,,5,,._
1916
city cannot do a commercial lighting business in connection with that
1916.
1915.
its own
$1.852,072 $1,480,625 Other income_ $361,012
Gross
service without the necessary authority from the Commission
8698.644 street-lighting
.
783,491
Expenses
1,021,815
V. 98. p. 764.
124,244
88,635 Gross income_ $933,859 $1,188,693
Depreciation
STOCK
AND
BONDSDate.
Interest.
Outstanding.
118,450
133,166
Maturity.
Taxes
Interest
586,581
662:660 Stock $1,000,000 ($100)----3699.400 See text
First mtge ($3,000.000) 81.-I 1901
5g
1,500.000 July 1 1931
Net
$572,847 $490,049
Surplus _ _ _ _ $347,278 $526,033
000 gold no sink fund _ _ _c* Int. at First Trust Co., Milw.,Trustee.
OFFICERS.-Pres.. J. D. Mortimer; V.-P. & Gen. Mgr. S. B.
Fox River Valley first mtgel, 1901
5 g A-0
350,000 April 1 1921
Way;
V.-P. & Asst. Gen. Mgr. R. B. Stearns; V.-P.,
e350,000 (81.000) gold_ __ c Merchants' Loan & Trust
Chas. F. Pfister; Treas..
Co., Chic.. Trust.
Geo. R. Sheldon; Sec. & Asst. Treas., Jas. F. Fogarty,
Bonds.-Entire issue of Wisconsin Traction, Light, Heat
Asst. Sec. & Asst. bonds
&
Co.
Treas., F.J. Boehm, Milw.; Asst. Sec._,_Robt. Randall, N.
called
may
be
on
any interest date at 110 and interest.Power
Y.
Gen.
office,
The Fox
Public Service Bldg.. Milwaukee; N. Y. office, 30 Broad St., N.
Valley bonds are subject to call at 105 and int.
Y. City- River
V. 94, p. 1627; V.95, p. 1274; V. 102, p. 1350; V.
Dividends.
-In
1914
and
since
to
Jan.
1917. 5% per annum.
104, p.863, 1801.
EARNINGS.-For years ending Dec. 31:
(a) The Milwaukee Electric Railway & Light Co.
YearGross. Net(aft.Tax.).0th. Inc. Interest.
ORGANIZATION.-Successor of Milwaukee St. Ry. Co. Jan. 29 1896, 1916
rPlus.
$495,447
$168,571 $10,385 $78,484 Divs.(5%)Su
per plan in V. 60, p. 1009. Embraces all the street
$34,940 $65,532
439.889
railway lines (except 1915
157.829
9,824
73,500
approximately 15 miles single track) in Milwaukee.
34,940
59,213
Entire common stock
ROAD.-Operates 15.82 miles of track, connecting Neenah,
Is owned by the Milwaukee Light, Heat & Trac. Co. The
Its street railway system. owns and operates an electriccompany, besides Appleton and Kaukana.3.57 miles locally in the city of Appleton Menasha,
and 1.76
-light and power miles sidings and turnouts; total, 21.15 miles.
system and a central-station
Also furnishes electric light
steam-heat system in Milwaukee.
and power and gas to Appleton, Neenah and Menasha.
The railway franchises of the company run until Dec.
31
1934.
OFFICERS.V.
70.
Pres.,john I. Beggs; V.-P., Chas. Pfister, Milwaukee
p. 39. Electric-light and power franchises are unlimited in time.
Sec.& Treas., A. K.Ellis.-V.91, p.96.1770; V.98,F.
p.764; V. 101. p.1093




ELECTRIC RAILWAYS

64

[VOL. 104.

(see Electric Short Line Terminal Co. in V. 100, p. 1832). The lease of the
Chicago Great Western RR.'s line extending from Randolph to Mankato,
road.
electric
Minn.,67 miles, was canceled Feb. 1 1916.
-An
TWIN CITY RAPID TRANSIT.
The notes of 1915 were issued to provide funds to complete the line
Jersey
New
of
the
State
of
laws
the
under
-Organized
ION.
ORGANIZAT
Minneapolis terminal and add to equipment. Minneapolis Trust
into
comunderlying
the
June 3 1891 and by virtue of its stock ownership of
is trustee of the indenture of collateral trust.
Co.
panies(to wit,The Minneapolis Street Railway Co.,The St. Paul City RailInterest. Outstanding. Maturity.
the
and
Co.
AND BONDS.- Date.
Railway
STOCK
Minnetonka
&
Lyndale
way Co.. the Minneapolis
$4,951,800
Minneapolis & St. Paul Suburban) controls the entire street railway system Common $15,000,000
3,332,400
Tonka Bay and Pref $1.1,000.000 6% non-cum
of Minneapolis, St. Paul, Stillwater, and lines to Excelsior.
J-J
750,000 Jan 1 1918
6
Side
North
1915
Street
&
-year
the
($500
notes
$1.000)._
3
absorbed
Deephaven at Lake Minnetonka. In 1906
See text
5%
Ry. (Robbinsdale line) and the St. Louis Park line; V. 83. P. 1472. In 1st M 30-year bonds
the
charter
1916
certificates
to
make
as
Receivers
so
amended
were
of
incorporation
articles
19d5
31.000.000 1st M. 30-yr. 5%, bonds are pledged as collateral for the notes.
perpetual. V. 80. p. 1914.
Cont. & Comm. Trust & Savings Bank, Chicago, trustee.
Franchise and Fares.-The horse car franchise granted to the St. P. City
Stock.-Preferred stock is redeemable.
use
Ry. Co. by the City of St. Paul is without limit. The ordinance to
; V.-P., C. N. Boynton, St.
OFFICERS.-Pres. & Treas..
electricity expires partly in 1937 and partly in 1939. On Aug. 24 1907 Paul; Sec., M. H. Routelle.-V. 93. p. 731; V. 99. p. 197; V. 100. p.1832:
injunction
permanent
a
Judge Lochren of the U. S. Circuit Court granted
2429.
2079,
844.
V.
p.
103,
406.
railways to
against enforcing the ordinance of Feb. 18 1907 requiring street S.
Supreme
sell six fares for 25 cts. (see V. 85, p. 532). On Jan. 3 1910 U.sustains
the
Court affirmed the decision of Judge Lochren. This decision
MOBILE, ALA,
to
charge
the
right
with
11873,
July
from
franchise
50-yr.
a
to
claim
co.'s
Mithe
subsidiary,
co.'s
the
1916
& RAILROAD.-Trolley.
LIGHT
MOBILE
5-cent fares. V. 90.p. 111. On Dec.7
17 1916 by the
ION.-A consolidation on Sept. 1 1901 of the Mobile Light
neapolis St. Ry.,complying with the resolution adopted Nov.
30-yr. & ORGANIZAT
Minneapolis City Council,submitted a tentative ordinance for a new
Railroad and the Mobile Street RR.; the franchises of both companies
which,if were
on Sept. 12 1901 to March 12 1955. See V. 73. p. 616.
extended
franchise dated Jan. 1 1918, and superseding the present franchise,
comIn July 1906 the Mobile Illuminating Co. purchased the electric-light
acceptable, will be submitted to vote of the people. Under its terms thevalue
plant of the company and under contract of purchase pays to the Mobile
pany is to receive a sum equal to 7% per annum upon tne total capital
1 1916). the Lt. & RR. 70 semi-annual payments of 311,464.
(placed at 335.323.376, plus approved additions since Jan. 1923,
equally
remainder ofthe surplus earnings to be divided:(a) until July 1 to purchase
Interest, Outstanding. Maturity.
STOCK AND BONDS- Date.
with city;(b) thereafter, 75% to city. City to have the right
$2,250,000 Sept'16. 1 .
Stock $2,250,000 (par $100)
311,000 July 1 19 7
the property on one year's notice. V. 103, p 2343.
g J-D
5
1897
gold
(31,000)-ntff
mtge
First
build new
Settlement with City of St. Paul.-For decision as to right to City
tint. at Farmers' Loan & Trust Co.. N. Y.
St.
of
with
for
settlement
and
2087,
p.
271.
79.
see
V.
lines in St. Paul,
270,000 May 1 1923
6
M-N
mtge
first
g
1893
RR
Street
Mobile
and
this decision
Paul by which the city relinquishes its right of appeal from
c*ntf Farmers' Loan & Trust Co., N. Y., Trustee.
gold $300.000
and personal property
the company agrees to pay into the city treasury real
Interest at National City Bank, New York.
1175.
p.
V.
80,
see
of
earnings;
gross
taxes, equal to at least 6%
1,476,000 Sept 1 1941
5 g M-S
Consolidated mortgage. gold 1901
On Oct. 23 1914 the Minnesota Supreme Court sustained the validity
Y..Trus.
($1,000) $2.250,000_ _ _c*tt Interest at New York Trust Co.. N.
1910 ordering the St.
of an ordinance passed by the City Council in May Ave.,
reserved for prior liens.
3640.000
mtge.,
the
$2,250,000
-Of
Bonds.
from
branching
Clair
on
St.
line
Paul City Ry. to construct a car
and $105,000 have been retired. 329.000 1st M.
in
are
treasury;
$29,000
West Seventh St. V. 99, p. 1301.
treasury and 330,000 have been retired.
holding M. L. RR. Co. bonds are in
Fixed
Balance.
New Subsidiaries.-Because of a decision of the Supreme Court
Net (after
Gross
EARNINGS.4% gross
Surplus.
Charges.
that suburban lines, as railways, are amenable to the Minnesota
Taxes).
Earnings.
Year.
Calendar
$66,638
$114,973
earnings tax, it was decided in Mar. 1910 to incorporate the Minneapolis
$181,611
3510,178
1916
in
to
33,000,000
increased
stock,
(31.000.000
55,832
102,002
157,834
& St. Paul Suburban RR.
491,404
92. p. 187). 1915
in
Jan. 1911; debt limit was also increased to $10,000,000; V.
M%;
July.
1909;
1910.
1
-A
%-Aug.
dividend
-Initial
Dividends.
stock) and the
the Minnetonka & White Bear Navigation Co. (3250,000
in 1912. June, 134% in
21.4%:
;4%
June,
A%
Sept..
Jan.,
1911,
in
matters
to
re-arrange
and
stock,
In
1915,
1%.
Rapid Transit Real Estate Corp., 315,000
Nov.,
1%;
June,
1%;
May,
1914,
In
2%.
Sept.,
1913.
parks. &c., of
so that the suburban lines, the steamer lines and the hotels,
July, 1%; Nov. 1%; in 1916, Feb., 1%; Apr., 1%; Sept.. 1%; none since.
the company might be handled separately for taxation and accounting purROAD,&c.-Owns 61 miles of track in Mobile and extensions to Magaposes. V. 90, p. 850.
zine Point, Spring Hill. Whistler and Monroe Park. Company also owns
Interest. Outstanding. Maturity. "Monroe Park" and water power and 260 acres of land adjoining.
STOCK AND BONDS- Date.
Twin City Rapid TransitOFFICERS.-Pres. dr Gen. Mgr., J. H. Wilson; V.-P., C. D. Willough322.000,000 Apr '17, 1J4
6 Q-J
Corn 322.000.000 ($100)___ _
by; Sec.& And.,M.W.Glover; Treas.,C. White Spunner.-V.86,P.1529.
3,000,000 Apr '17. 19
Pref cum 33,000.000(3100)- 1895 7 Q-J
Minneapolis Street Railway Co.1st con M g 35,000,000-c*cpt 1889 5 g J-J 15 5.000,000 Jan 15 1919
MONMOUTH, ILL.
St Paul City Railway Co224.000 April 1 1932
First mtge on real estate andl 1882 6 g A-0
ROCK ISLAND SOUTHERN RAILROAD.
for
consolidated.
first
e
105
at
horse-car franchise_ _cpt(Exchangeabl
Was leased to the Rock Island Southern Railway (now Miss. Valley By.
456,000 Oct 1 1934 & Power Co.) from Feb. 1 1913 to Dec. 311913. on which date lease was
First consol mtge gold--cot 1884 6 g A-0
15
1937
Jan
J-J
3.708,000
15
g
5
1887
cot
text)
gold(see
canceled.
Cable con
Minneapolis & St Paul Suburban RyORGANIZATION.-Incorp. in 1906 under Steam RR. Act of Illinois.
500,000 Sent 1 1924 Operated by electricity for passengers and steam for freight. Franchises
1st M g 3500.000 guar byt. 1899 5 g M-S Trust
Trustee
Y..
N.
Co.,
at
Central
(Interest
t
c*cp
Cy
T&StP
In Monmouth are for 20 years.
TwCy R
Application for a receiver by the original promoters of the road was deMinn Street ee St Paul City Ry10.000,000 Oct 1 1928 nied-In Sept. 1915. V. 101,A). 1014.
Joint con mtge 310.000,0001 1903 5 g A-0
Trustee.
Bondholders' Committee.-E. J. Eddy, Chairman; Charles H. Dudley
(31.000) gu p & 1_ _c*c t f Central Trust Co. of New 'York.1918
1923
to
375,000
6%
and M. 0. Williamson. Deposits of bonds with the Fidelity Trust Co.,
Real estate mortgages_
All bonds are for 31.000 each,and, with the exception of the Minneapolis Portland, Me., and People's Trust & Savings Bank, Galesburg, Ill,, have
& St. Paul Suburban Ry. and the joint issue of 1903, interest is payable
been called for. See V. 102, p. 886.
at Farmers' Loan & Trust Co.. New York. Company pays Federal Income
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$500.000
tax on above issues.
$500,000 ($100)_
Stock
Stock
Y.
Exchange.
N.
on
Stock.-Stock listed
621.000 Jan 1 1947
g J-J
5
__
gt
$2,500,000
mortgage
First
Bonds.-The Minneapolis Street Railway Co. jointly and severally with
Bk.,Chic.. Trustee.
Sav.
&
Tr.
Amer.
at
Int.
cf
01.000) red at 105
35,000,000 5%
the Minneapolis Lyndale & Minnetonka Railway Co.,issued
and Monmouth. 75-lb. rail.
Galesburg
between
miles
-16
ROAD.
See
bonds.
gold
mortgage
30-year first mortgage and Mat consolidated
gauge.
Standard
statement to New York Stock Exchange in June 1895. The consols are
OFFICERS.-Pres., M. A. Walsh; V.-P., Will Halsted Clark, Chicago;
also listed in London. V. 60. p. 1149.
con- Sec.& Treas.,J. W.Walsh; Gen. Mgr., Geo. W.Quackenbush, Rock Island,
The St. Paul City Railway Co. has issued 33.708,000 5% 50-yr cable
101. p. 104; V. 102, p. 886.
Loan &
solidated bonds, and may issue $680,000 now hold by the Farmers'
limit fixed by
Trust Co. trustee, to redeem the $680,000 prior lien bonds;
out.
put
this mtge.'is 34,388,000, and no further underlying bonds can be (p.
MONTGOMERY, ALA.
& I.)
V. 77, p. 2281. Part of chose cable consols ($1,138,000) is guar.Y. Stock
-A trolley road.
MONTGOMERY LIGHT & TRACTION CO.
by end. of Twin City Rapid Transit Co. See statement to N.of
chartered In 1893.
St.
ORGANIZATION.&c. Montgomery Trac. Co. was owned
Exch. in June 1895, V. 60, p. 1150. Of the 1st consols. mtge. the
by Richard
lighting property
the
acquired
exbe
having
Co.
to
&
Loan
Tr.
the
Farmers'
1911.
29
by
On
Dec.
held
are
$224,000
Paul City.
above title (V.94.
Co.
to
Trac.
Montgomery
from
changed
was
bonds
Tills,name
changed for the $224,000 first mtge
Ry. consolidated mortgage of p. 207).and in June 1912 stock was increased from $1,000,000 to 32.000.000,
The Minneapolis Street Ry. et St. Paul CityRy.
and the St. Paul City Ry. to pay for new property. V. 94, p. 1764. Stock had previously been de1903 is a joint issue of the Minneapolis Street
to 31,000.000 in 1909. V • 88. 1)• 375.
Guaranteed, prin. and int. by endorsement, by Twin City Rapid Transit creased from 32.000,000
power
Does entire street railway business and has an electric light and
77,
and
2340).
2281
P.
V.
Co. see
of
its suburbs. Street railway franchises that are
and
First
dividend
annum.
Montgomery
in
system
per
7%
paying
Dividends.-On preferred is
power
and
light
Electric
and
1942.
1900,3%;in 1901,4%; not perpetual expire between 1932
1% was paid on the common stock in Aug. 1899; in
franchise runs till 1940.
1902 to 1909 incl.. 5% per ann.; 1910 and since, 6% per annum.
V.
-See
Decision.
103.
1593.
13.
Contract
Power
equivalent,
ROAD.-On Dec.31 1916 comprised 444.78 miles single-track
Interest. Outstanding. Maturity.
centres of MinneSTOCK AND BONDS- Date.
including four interurban lines connecting the business
$2,000,000
St. Paul and Stock $2.000.000 ($1OO)_
apolis and St. Paul, an interurban line of 22 miles connecting
1,000,000 April 1 1942
prin5%
1912
fd__
sk
the
On
$5,000.000
ref
M
gauge.
&
1st
Standard
Minnetonka.
Lake
to
Stillwater, and lines
Aug. 1923
350,000
-A
F
g
6
1893
1st
mtget
Ry
Street
Mont
joints.
cipal streets of the cities 90-lb. T rail with welded
(Int. at Farmers' L.& T.Co., N. Y., Trustee.
Falls (ca$350,000 gold
Power.-The company leases water-power atinSt. Anthony'swith
are reserved for prior
$350.000
&
bonds,
refunding
1st
power
the
-Of
Bonds.
used
conjunction
now
is
power
which
pacity 22,000 h. p.),
$3.650.000 for add'ns & betterm'ts at 80% of cost, or for acquisigenerated at new steam power plant to run the entire railway system in lien andrefund.,
$ for 3,of bonds of other properties which may be acquired.
tion or
both cities. See V. 64. p. 704.
equal to 1% of all bonds authenticated annually began April 1
fd.
Sink.
ANNUAL REPORT.-Report for 1916 was in V. 104. p. 447.
1915. V. 95. P. 47.
1913.
1914.
1915.
1016.
Year end. Dec. 31EARNINS.-Of combined properties for cal. year 1914, gross. $396,Revenue pass. carried_ A99,848,096 185,654,985 184,352,963 175,895,811
695; net, after taxes, $106.681.
Transfer pass. carried__ 74,425,935 69,259,767 66,742,000 63,914,277
$8,818,178
4 miles of double track) in
$9,227,602
$9,401,233
130,113
Receipts from transp'n_$10,
ROAD.-Operates 38 miles of track (Including
52,158 Montgomery
72,043
76,658
84,366
and to Pickett Springs; 56 cars. Standard gauge; 70-lb. T
Rects.from oth.sources_
95-lb. girder rail. Power-house capacity. 4.000 k.w.
and
$10,214,479 $9,477,891 39,299,645 $8,870,336
Total receipts
OFFIORRS.-Pros., Ray Rushton; Sec., II. F. Crenshaw,* Treas..
5,560,641
5,832,182
Operating expenses_ _ _ _ 6,254,643 6,064,628
Chas. E. Norton.-V. 100, p. 734; V. 102. p. 1718; V. 103. p. 1593.
33,959,836 $3,413,263 $3,467,463 $3,309,695
Net earnings
$1,695,655 $1,680,297 $1,579,822 $1,561,440
Interest, taxes, &c
MONTOURSVILLE, PA,
20,691
26,633
Miscellaneous debits_ _
210,000
210,000
210,000
210,000
0)
Divs, on pref. stk. (71
PASSENGER RAILWAY.-A trolley road.
ILLE
MONTOURSV
1,206,000
1,250,514
1,319,916
28 1897. ComDivs. on corn. stk.(6 ) 1,320,000
ORGANIZATION.-Ohartered in Pennsylvania June
Owns all the stock of the Montoursville
$332,255 menced operations Dec. 16 1897.and
$427,127
$182,359
$707,548
debt auth.
Funded
Balance,surplus
$75,000.
issued,
auth.
Stock
Electric Light Co.
OFFICERS.-Pres., Horace Lowry; 1st V.-P., E. W. Decker; 2d V.-P., and issued, 3112,000 5% 30-year gold bonds (tt) dated May 1 1908, int.
.Pa.
John R. Mitchell; 3d V.-P. & Sec., A. M. Robertson; And.. D. J. Strouse; M.& N. Operates 53.4 m.of track from Williamsport to Montoursville
is proposed.
Treas., E. A. Crosby.-V. 103, p. 2343; V. 104. p. 362, 447.
An extension of 134 miles to the borough limits on the east
Elec. Lt. Co.),
Mont.
(incl.
1916
31
Dec.
ending
mos.
-12
EARNINGS.
MINNEAPOLIS ST. PAUL ROCH. & DUBUQUE ELEC. TRAC. CO. gross, $28,611; expenses, taxes, interest, &c., 329.588; deficit, $946.
-Commonly known as "Dan Patch Elec. Line." Operates a unit power
V.-P., F.0. Leonard.
OFFICE RS.-Pres..0. L. Peaslee, Williamsport;
car system.
Williamsport; Gen. Mgr.,
Coudersport; Sec. & Treas., W. P. Beeber.
Receivership.-Charles P. Bratnober of Minneapolis was appointed
V. 95. p. 47.
1764;
207,
p.
94,
e.-V.
Montoursvill
the
event Frank Renninger,
receiver on July 20 1916 to protect holders of stock and bonds in
of a reorganization as a result of the death of M. W. Savage, Pres, of the
company. V. 103, p. 406.
MORRISTOWN, N. J.
Foreclosure.-On Dec. 23 1916 the company's'property was ordered sold
at foreclosure under the 1st M.(31,000,000 bonds pledged as collateral to
TRACTION.-An electric road.
COUNTY
MORRIS
3-year notes). V. 103, p. 2429.
Jersey in 1899. Charter
Jaffrey of MinneORGANIZATION.-Incorporated in New
of
A bondholder's committee has been formed with C. T.
to issue gives company right of eminent domain. Built mostly on private right
apolis as Chairman. On Aug. 26 1916 the receiver was auth.
or
for 35 years.
perpetual
are
towns
or
way. Franchises through
issue
to
$100,000 receiver's certificates to take care of obligations then existing
plan
the
approved
Comm.
On Feb.21 1913the N.J. Pub.Utility
shortly expected to arise. See V. 103. p. 844.
new share
the 33,000,000 existing steck (onesecured
a 3300,000 Cap. stock to retirebonds
by
of an auth. $5,000,0M to be
ORGANIZATION.-Incorp. on June 10 1907 in Maine to construct
old). and 34.179,000
ten
for
Duand
Minn.
Paul.
for
St.
and
$3,000,000
Minneapolis
line 300 miles long connecting
Tr. Co. of Pittsburgh, as trustee;
Minn., a mtge. to the Safe Dep. &
V. 95. D.
indebtedness.
other
for
buque,Ia. 45 miles of road between Minneapolis and Northfield,
$1,179.000
and
bonds
existing
refunding
in operation (3 miles of which is on private right-of-way in Minneapolis).
680; V. 96. p. 653.
bringing passenger and freight cars into the leased Minneapolis terminal 1746.

MINNEAPOLIS, MINN.




MAY, 1917.

ELECTRIC RAILWAYS

STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
(1) Nashville Railway & Light Co.-Street railway and lighting system.
$300,000
Stock common (see text)_____
$335,300 of the pref. and practically all of the common stock owned
by
First mortgage $3,000.0001 1905 5 g J-D 15 3,000.000 June 15 '35 Tenn. Ry., Lt. &
Pow. Co.
gold callable at Safe Deposit & Trust Co., Pittsburgh, Trus.
($1,0)
00
ORGANIZATION.-Incorporated in Tennessee on June 26 1903. Is a
Int. at National Iron Bank, Morristown.
110 and interest_ __c*&r.tf
reorganization
of the Nashville Railway Co., sold under foreclosure of the
General mortgage $5,000,0001 1913 5 g J-D
1.179,000
1948
c*.tfjInt. at Safe Dep.& Tr. Co., Pittsb., Trustee. latter's first consol. mtge. The Nashville By. was a consolidation in 1900
$1.000) gold
the gen. mtge. bonds, $3,000,000 are reserved to retire the of the Nashville Street Railway, the Nashville & Suburban and the Citizens'
Rapid
Transit, the Ournberland Electric-Light & Power and the
first mtge. 5s. No sinking fund. May be called at 105.
EARNINGS.-For calendar year 1916, gross. $398,789; net, $142,678; Union Light & Power Co. Does practically all the street railway and commercial lighting and power business in Nashville. Franchises perpetual;
1915, gross, $350,225; net, $112,596.
those covering the principal railway lines contain a provision
giving the
ROAD.-Is to build 75 miles of road from Elizabeth, N. J.. to Netcong. city the right to purchase
after 1923.
with a branch from Denville to Boonton and other branches. Road is in
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
operation from Morristown to Lake Hopatcong, 214 miles, with branches Common
$4.000,000___($100)
to Boonton, 5 miles, and to Wharton, 24 miles; also from Elizabeth to
$4.000,000
Springfield, 6 miles, and from Maplewood to Springfield, 24 miles, and Pref 5% cum $2,500,000($100) - ___
s: -J
2,500.000 Apr'17, 14
McG
Mt
&
V Horse RR IstM 1 1886 6 J-J
of
end
track
to
miles
at
Danforth
84
thence
Road(14 miles beyond Madi65,000 July 1 1926
($100.
$500
& $1.000)-cntfNashville Tr. Co.. Trust.
son), total 46.95 miles of road. Total track in operation, 58 miles. The
Second series ($1.000_cntf 1887 6 J-J
3 miles of road between Danforth Road and Morristown are owned by the
5
operated
Nashville
are
and
Morris RR.
under lease. Gauge, 4 ft. 84 in. 70-1b.
Tr. Co.. Trust.
T rail in country, 80-lb. girder in cities. The building of a line from Land- Nashv & Edgefield consol MI 1889 6 .I-J
•
274,000 Jan 1 1920
(closed)($500&$1,000) cntflNashville Tr. Co.,
ing to Netcong is under consideration.
Nashville, Tenn., Trustee
OFFICERS.-Pres.. Henry R. Rea. Pittsburgh, Pa.; V.-P., Jos. K. Nashville St Ry 1st mortgage1 1895
5 g J-J
907,000 Jan 1 1925
(closed) g (31,000)__c*ntffNashville Trust Co.. Nashville, Tenn.,
Choate, Morristown; Sec.& Treas.,0.G.Schultz, Morristown; Gen. Mgr.
Trus.
Nashv By & Lt consol M g 1903 5 g J-J
0.0. Weidman.-V.95. p. 680. 1608, 1746; V.96, p.63.653; V.97. p. 521
4,110,000 July 1 1953
' (closed) ($1,000)
c*tf Interest at Guaranty Trust Co., N. Y.,Trus.
Nash Ry & Lt ref & ext mtge 1908 5 g J-J
4.386,000 July 1 1958
815.000.000 ($500. $1,000) Int. at Guaranty Trust Co., N. Y.. Trustee,
MOUNT HOLLY, N. J.
gold
c*tf
or at Nashville Trust Co., Nashville.
BURLINGTON COUNTY TRANSIT CO.-Trolley.
on both series of McGavock & Mt. Vernon Horse RR.bonds
ORGANIZATION.-Incorporated in New Jersey on July 1 1910, as is Bands.-Int.
payable at office of trustee and New York fiscal agent. The Nashville
successor to the Burlington County Ry. Co. V.90. p. 1612. Stock auth. Railway & Light consols of 1903 are
subject to call on any interest date on
and issued, 8120.000 ($50). No bonds.
30 days' notice at 1074
int. Sinking fund $30,000 per annum, comAs of June 1 1916 the N.J. Public Utility Comm.authorized the company menced July 1 1913. but and
only
If
company
has a surplus above charges and
from
Moorestown
fare
increase
the
to Mount Holly and from Mount div. on pref. stock; bonds to be kept alive
to
in sinking fund. Int. on the
Holly to Burlington from 10 to 15 cents each.
Nashville & Edgefseld Consol. 6s payable at office of company in Nashville
EARNINGS.-For year ending June 30 1916. gross, $68.131; net from or
Hanover Nat. Bank,N. Y. Int. on Nashville St. Ry. bonds of 1895 payoperations.$176. In 1914-15, gross, $73,101; net from operations,
$6.160; able at Mechanics' Nat. Bank,N. Y. Of the new ref.& ext. bonds,85.841,dividends (4%), $4,750; surplus, $1,410.
000 are reserved for prior liens and remainder may be issued at rate of $1,000
ROAD.-About 15 miles of track from Burlington through Mount Holly for each $1,250 expended
for future impts. & equipts., not over $700,000 to
and Hainesnort to Moorestown. 60-1b. T rail. Gauge,5ft. On March 29 be issued in any calendar
year, and subject to certain other conditions.
1916 9 of the company's 11 cars were completely destroyed by fire. Now Bonds cannot be called. Sinking
fund of 54 of 1% of outstanding bonds
has 4 passenger and 2 repair cars.
starts July 1 1918, bonds in sinking fund being
kept alive. See particulars
OFFICERS.-Pres., Albert Haines; V.-P., John D. Johnson Jr.; Sec.- of bonds, property, &c., in V.87, p. 227.
Treas., Arrnitt H. Coate; Mgr.. Edwin C. Davis.
Dividends.-The first div. on pref. stock-24%-was paid Jan. 1 1905;
then 24% semi-annually to July 1910. In Oct. 1910 changed to quarterly
and paid 1 q %,and same amount quer. since to and incl. April 1917. Common stock is practically all owned by Tenn. By., Lt. & Power Co.
'MUSKEGON, MICH.
EARNINGS.-Years ending Dec. 31:
MUSKEGON TRACTION & LIGHTING CO.
Cal.
•
Gross
Net (after Interest, Pref.Div. Balance,
.n Jan. 1906 almost the entire stock was acquired by the American Light
Earnings.
Taxes).
&c.
5%.
Surplus.
& Traction Co. V. 82, p. 49.
$2,383,041 $929,853 $508,971 $125,000 $295,882
ORGANIZATION.-Incorporated in Michigan on March 11901,and is
2,143,903 825.069 510,587
125,000 189.482
a consolidation of the street railway,electric-light and gas companies of the 1915
PROPERTY.-Operates 101 miles of single track. Has 227 passenger
city. Franchises expire: gas, 1925; railway. Indeterminate.
15 other cars. Hydro-electric power is obtained on advantageous
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. and
terms
from the Tennessee Power Co., which operates this company's steam
Stock $600,000 ($100t
;
g- ----$66030.,000
0N
plants of 18.350 k. w. capadty as reserve.
Preferred $100,000 6 e cum-- ---See text
OFFICERS.-Pr
es., C. M.Clark; V.-P., M.S. Hopkins; V.-P. & Gen.
gold{
1901
5
First mortgage $600,
g M-S
600,000 Mar
Mgr., F. W.Hoover; Sec. & Treas.. H. B. Whiteman.-V.104. p. 1899.
--tf Interest at Wyoming Valley Trust1 1931
Co..
gallag at 105
Wilkes-Barre, Pa. Trustee.
(2) Chattanooga Railway & Light Co.
Dividends.-On preferred stock 6% yearly from 1902 to date.
Tennessee By., Lt. & Pow. Co. owns practically all of the $3,000,000
ROAD.-Owns 15 miles of road and serves as a terminal for the Grand common and 32.000.000 pref. stock.
ORGANIZATION.-10corporated in Tennessee on July 29 1909 as a
Rapids Grand Haven & Muskegon Ry., which operates 40 miles of track
consolidation of the Chattanooga Railways Co. and Chattanooga Electric
between points indicated in the title.
OFFICERS.-Pres.. J. Q. Ross; V.-P.. J. T. Young; Sec. &
Co..
per plan V.88. p. 1497. V. 89. p. 285. Own- entire capital stock of
Treas.. Lookout
H. P. Lewis. Muskegon; Asst. Sec. & Asst. Treas., C. N.
Mountain By. Co. Does practically all the street railway, elecJeliffe;
James Lawrence; Gen.Supt., Walter Eyke.-Y. 96. p. 1840; V. 101. p.And.,
tric light and power business in Chattanooga and vicinity, incl. the electric
774. lines
up and on top of Lookout Mountain. Suburban lines run to Missionary Ridge, Chickamauga Park and Lookout Mountain. Franchises, with
minor exceptions, without limit of time and, according to decision of U. S
MUSKOGEE, OKLA.
Supreme Court, believed to be perpetual.
MUSKOGEE ELECTRIC TRACTION CO.-A trolley road.
ORGANIZATION.-Icorporated in 1904 in Indian
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Territory. In Oct. Common 33.000.000
($100)_
1912 acquired the People's Electric By., which was merged into this
prop- Pref$2,000,000 5% cum($100) __ __
Q-J
erty_. and issued $600,000 new 1st M. bonds to refund an earlier
2,000,000
issue of First and refunding mortgage 1909 5 g
$450.000 and in part payment for the People's Elec. Ry. 5200.000
M-N
_ 7_395.000
2
May 1 1956
addi$15,000,000g ($1,000).c*tf Fidelity Trust Co.. Philadelphia, Trustee.
bonds will be issued in final payment when annual net earnings
tional the
twice
are
interest charges on bonds out,
Rys 1st cons mtge, see 1908 5 g M-N
2.165,000 May 1
including these $200,000. Fran- Chatt
text($500& $1.000) g_c tf Int. at Commercial Tr,Co. Phila.,Trust1956
chises are unlimited as to time.
El By 1st M $625,0001625,000 Jan 1 1919
Right of Purchase by City.-The city has the
to purchase all the com- Chatt
g not rod ($1,000)__c*ntff Int. at Maryland Trust Co., Bait.,Trustee.
pany's property within city limits in 1934 andright
at the end of every 15-year Two-year
gold notes 81.000.-1 1915
period thereafter, at a price determinable by arbitration,
5 g J-D
615.000 Jue 1 1917
but
in
case
of
cntfl Penn Co. for Ins. on Lives, &c., Trustee
000 ($1,000)
such purchase the bonds must be either paid off or assumed by the
Stock.-Pref. shares equally with com. after com. has received 5%
and in the latter event the company must be allowed to operate its city,
cars
Bonds.
interurban
Chattanooga
suburban
-The
$3,000.000
or
from
points to the centre of the city on a
Rys, mtge. has been closed;callrental able any int. date at 107 and int. on 3 mos.' notice.
basis. See V. 95, P. 1331.
Of the let & ref. bonds.
$2.790,000 are reserved for prior liens, $251,000 are in treas. and $9,133,000
Has favorable long-time power contract with the Muskogee Gas &
El. Co. for ext., betterments and impts. at 85%
of
cost.
pledged as
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. part security for Chattanooga Railway & Light Co $431,000
5% notes due 1917.
Stock $500,000 ($100)------Q-M
8500.000 See text
No sinking fund; callable at 105 and int. on any int. date on 60 days'
First mtge $5,000,000 sinking 1912 5 g MN
800,000 May 1 1934 Int. 5ayable at Hodenpyl. Hardy & Co. and at office of trustee. notice.
V. 89.
c* Int. at Equitable
fund gold ($1.000)
Co.. N. Y., Trustee.
Remaining bonds may be issued for additionsTr.
and
betterments
The 2-year notes can only be issued to the extent of 75% ofthe face value
80%
of cost, with certain restrictions. Subjrct to call as a whole, or in at
part, at of the bonds pledged as security. Interest payable at office of E. W.
105 and int, on any int. day on 3 weeks notice. Semi-annual sinking
fund Clark & Co.. Philadelphia, Pa. Secured by $431,000 Chatt. By. & Lt.
began Jan. I 1914 of 3 of 1% of all bonds outstanding. V.95. p. 1331.
Co. 1st & ref.5s and $389,000 Lookout Mountain 1st M.6s. Red.at par and
Dividends.-1908. 5%; 1909. 6%; 1910 to 1912. inclusive. 8%.
on any int. date on 30 days' notice.
ending
EARNINGS.-For year
Dec. 31 1916, gross, $163,372; net (after int.
EARNINGS.-Years ending Dec. 31:
taxes), 455,306.
Cal.
Gross
Exp. ere
Net
Interest.
Balance.
ROAD.-Operates city lines, 16.13 miles, and interurban and suburban.
Earnings.
YearTaxes. Earnings.
&c.
Surplus.
15.13; total. 31.26. standard gauge. 70 and 60-lb. T rail. 47 pass.
$1,235,623 $823,444 $412,179 $356,324
cars 1916
$55,855
(of which 34 pre-payment); 2 misc. cars and 1 elec. locomotive.
Also owns 1915
1,087,344
727.731
359,613
357,762
1.851
an amusement park on Arkansas River about 5 miles from
-Including
ROAD.
Lookout
Mountain
By.,
Muskogee.
operates 73.158 miles of
OFFICE RS.-Pres., R. D. Benson; V.-P., W.S. Benson;
track. Gauge, 4 ft. 84 in. T and girder rails. 107 motor, 12
W. M. Cutlip; Local Mgr., R. D. Long.--V. 95. p. 1331. Sec. & Treas.. single
trailers, 2 incline cable and 9 work cars. Power is obtained from the Tennessee Power Co., which operates this company's 2 steam power stations
of 7,000 k.w. capacity as reserve stations.
OFFICERS.-Pres.,0. M. Clark; V.-Ps., M.S. Hopkins, II. L.
NASHVILLE, TENN.
and F. W. Hoover; Sec. & Treas., 0. L. Estabrook; Asst. Sec. & Clark
TENNESSEE RAILWAY. LIGHT Sc POWER CO.
Asst.
ORGANIZATION.-Incorp.in Maine
Treas., Wm.Bingham.-V. 102. p. 1625; V. 103. p. 843; V. 104, p. 1898.
on
April
23
1912. V.94. p. 1120.
Is a holding company and owns all the stock of Tennessee
(a) Lookout Mountain Railway Co.
Power
Co..
praecommon
and
the
$335,300
tically all
prof. stock of the Nashville By. & Lt.
ORGANIZATION.-Owns electric line on top of Lookout Mountain
Co. and practically all com. and Prof. stocks of (Matt.
By. & Lt. 0o. and, through stock ownership, controls the Lookout Incline Co. (whose
and bonds are deposited under the company's mortgage). Stock
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity. stock
all owned by the Chattanooga Railway & Light Co. Private right-of-way
Common $20.000,000 MOW-- ---$20,000,000
except short piece of track on which franchise expires in 1926.
Pt$50.000,000($100.)6% cum- ---Q-M
10,250,000
See
text
Secured notes 53.500,000f 1916 5 J-D
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
2,500,000
1 1918 Stock
($1.000)red at 104 de int_c*lBankers Trust Co., New York, June
($500.000)
$500.000
trustee.
The secured notes were issued to replace $2,500,000 one-year
1st mtge 32,000.000 (81,000)1 1913 6 g M-N
389,000 May 1 1956
6%
note
receipts due June 22 1916 (V. 101, p. 1015). They are the
gold
c*tfJPhiladelphia Trust Co., Phila., Trustee.
S
direct obligation of the company and are secured by $2,500,000
Bonds.
-Lookout Mtn. Ry. bonds are red. at 105 and int. on any int.
Tennessee
Power Co. 1st 55 and $2,500,000 common stock of the Nashville By. & date on 60 days' notice. $1,611,000 reserved for impts., &c., at 85% of
Light Co. V. 103, P. 666.
cost of same. Bonds outstanding are pledged as part security for ChattaDividends.-Dividends at rate of 6% per ann. were paid
nooga By. & Lt. 5% notes. Interest payable at offices of
organization of co. to and incl. June 1914. None since. quarterly from Co., Phila., and Hodenpyl, Hardy & Co., New York. E. W. Clark &
EARNINGS.-Combined earnings of constituent companies: Report
EARNINGS.-Included in Chattanooga By. & Light Co. earnings.
for 1916 in V. 104, p. 1894.
ROAD.-Operates a cable road of 5,000 feet and has 9.8 miles of electric
Years ending
Net (after
Gross
road around and on top of mountain.
Interest,
*Divs.
on
Balance.
Dec. 31OFFICERS.-Pres.. O. M.Clark; V.-P., M.S. Hopkins; Sec.& Treas..
Earnings. Taxes, &c).
tr.
Minor.Stock.' Surplus.
1916
GI L. Estabrook; Gen. Mgr.,P. W.Hoover.-V.83. p. 323: V.87*. p. 226.
$4,883,636 $2,094,256 $1,340,172 $108,235 $645,849
1915
1,679,874
3,945,397
1,320,263
108,472
(3) Tennessee Power Co.
251,139
Stock all owned by Tennessee Ry., Light & Power Co.
*Dividends paid on stocks of constituent cos. not owned by
ORGANIZATION.-Incorp. in Tennessee on April 24 1912 as a consoliTenn.
Ely., L. & P. Co.
dation of the Eastern Tennessee Power Co. and Great Falls Power Co.;
PROPERTY,&C.-The constitnent cos. own and operate electric-light, has also acquired the property formerly belonging to Sweetwater Elec. Lt.
power and traction properties in Nashville.
Cleveland, and go.,Cleveland (Tenn.)El. Lt. Co.,Sparta Elec. Light & Power Co.. Sparta
several smaller cities. A number of other Chattanooga,
cities. including Knoxville. Water Co. and A. & T. Power Co. Franchises.-The co.'s power plants
Tenn.. and Rome. Ga.,are under contract for electric
are owned in fee and its transmission lines are on private right of way and
service.
therefore not subject to franchise limitations. Franchises of distribution
OFFICERS.-Pres.. C. M. Clark; V.-Ps., H. M. Byllesby, Geo.
E. companies are favorable.
Hardy, E. W. Clark and F. 0. Walcott; Sec. & Treas.,
G. L. Estabrook;
STOOK AND BONDS- Data.
Interest. Outstanding. Maturity.
Asst. Soc. & And. Treas., William Lilley and Jacob Hekma.
Under man- Stock 820,000,000($100)
-All owned
Tenn. By., Lt. & P. Co.
agement of B. W. Clark & Co. Mgt. Corp. V. 102, p.
1719. 1889; V. 103. First mtge 850.000,000 goldt 1912 5 g by
M-N 87.971.000 May 1 1962
p. 666; V. 104, p. 1265, 1894.
guar.p& 1 ($1.000)....c5ntrilnt. at Bankers Trust Co.. N. Y..
e.




66

ELECTRIC RAILWAYS

[VOL. 104.

Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
are in treasury 'pledged
Q-M 31 330,000.000 Mar.'17.2%
Bonds.-Of the remaining bonds. $3,075,000 are
--deposited under the Stock 350,000,000 (3100)-.-.
*20,047.770 Perpetual
M-N
8
as collateral on advances, of which $2,500,000note
1903
00)
s
320.200,0
certificate
Trust
and $38,954,000 are
Tennessee Ry., Light & Power Co. collateral
tf Fidelity Trust Co.. Newark, Trustee.
nts. Sinking fund. 1%
50,000,000 Oct 1 1959
F; A-0
5
1909
reserved for extensions, acquisitions and improveme
0{
50,000,00
mortgage$
General
ary
extraordin
for
be used
per annum of bonds out, began May 1 1917; to
c*tir Int. at Fidelity Trust Co.. Newark, Trustee.
gOld (31.000) a f
; also for
extensions
a
and
nts
enlargeme
Morgan & Co.
additions,
or
P.
J.
nts
of
office
replaceme
at
or
renewals,
107A and int. on 12
7,500,000 Mar 1 1919
cancellation of bonds. Red. in whole or in part atN.
1916 5 g M-S
Y.,is also trustee. Three-year coil notes 37,500.-1
trustee.
Pa..
Phila..
Co.,
cc!
Trust
Fidelity
weeks' notice. See V. 95, p. 549. F. N. B. Close,
000 gold ($1,000)
EARNINGS.-For years ending Dec. 31:
*Of which $884.485 owned by the Corporation.
1915.
1916.
Stock.-The stock listed on N. Y. Stock Exchange.
$504,636
59,845
earnings$7
net
Total
,06
6
from June 1 1903) the first
1
6
9
0
1
$1,
716
:
earns_
_31,636,
Gross
Bonds.-The trust certifs. bore 2% int.(dating
Int. (less portion
14% each following year
Net (after rimyears, 23i% the third year, and increased by
two
465,598
ch'irle to cap'1). 454,919
445,818
the rate now paid. See
is
which
year,
tenth
the
tals & taxes) 675,234
in
reached
was
6%
until
which the stocks of the
upon
terms
the
ss
earns,
.eff.
Sugstr
The following shows
$304,926 $39,038 V. 80, p. 164.
s. The
Surplus
58,818
84,611
companies were exchanged for the trust certificate
t
constituen
s.
near
certificate
River
trust
Ocoee
the
the
for
on
sites
security
as
er
pledged
water-pow
are
stocks acquired
PROPERTY. &O.-Owns
Cgs.
Total
has
New
Option
p.
h.
Parksville. Tenn., with an ultimate capacity of 80,000
Certifi- If All ftelt
Total
Total
of 30,000 h. p. additional, and at
been secured on sites for the development
.
Exchanged
cates.
the
Of
p.
Deposited.
h.
80,000
Stock.
of
developing
Great Fails. Tenn., owns a site capable
w., was put in operation *North Jersey Street By
$15.000,000 314.994,400 40% $6.000.000
development in operation, Ocoee No. 1, 18,750 k.operation
1
April
1914.
complete
Pat
in
&
w.,
k.
Hoboken
City
15,000
*Jersey
Jan. 1912 and No. 2,
7.000,000
placed in operation in July
20.000.000 19.984.600 35%
arson Street By
Two 10,000k. w.steam plants at Paricsville were
at Great Falls placed *Elizabeth Plainfield & Cenand Nov. 1916, and a 13,000k. w. hydro-electric plant
900,000
total
30%
Sparto;
at
3,000.000
plant
.
w.
hydro-elec
3.000.000
a
Co
300k.
Ry.
owns
tral Jersey
in oper. Jan. 15 1917; also
300,000
928.500 30%
from Chattanooga & Orange & Passaic Val. By.Co.. 1.000,000
capacity, 67,050 k. w. Power is also purchased
6,000,000
leases 31 miles high- United Electric Co
20.000.000 19,594.500 309
Tennessee River Power Co. Also owns 536 milesalland
in
used
current
electric
practically
Supplies
tension transmission lines.
320.200.000
Athens,
Total
Nashville, Chattanooga, Knoxville, Murfreesboro, Cleveland,
Co.. which see below.
and Sparta, Tenn.,
* Now merged in Public Service Raihvay
Etowah, Sweetwater, Lenoir City, Loudon, Franklin
so as to
used
be
the
not
with
shall
power
of
pledged
block
stocks
large
the
for
that
contract
provides
Has
deed
Ga.
The trust
and Rome and Dalton,
nor to create any new
Ameni Increase
the capital stock of any of the companiesup
Aluminum Co. of America at Marysville; also has contract with the
existing debt of any
take
to
except
companies
1618.
1698,
-V.
P.
respective
Mascot.
the
98,
upon
at
liens
Co.
Zinc
can
.
such company or of underlying or subsidiary0companies
reported outstanding,
RY.
350.000.000 Mortgage.-Of the 350.000,00 bondsfund
NASHVILLE-GALLATIN INTE'RURBAN
were
and $12,500,000
West
J.
R.
sinking
Judge
the
and
by
Corson
H.
H.
purchased
1916
been
22
Dec.
have
-On
p.
Receivershi
authorized $1,058,000
being deposited as collateral
are treasury bonds, $10,000.000 thereofMarch
appointed receivers. In order to prevent foreclosure thes,Court
bearing not over to
1 1919 and $2,500,000
gold notes due
collateral
-year
3
the
the issuance of not to exceed 320,000 receiver's certificate
to provide for the s.-a. int. as collateral to a $1,750,000 note. For security of bonds see V. 89, p. 1348;
6% int, and running not more than 6 months,58
1911. V. 103. p. 2429. V. 90, p. 698. Redeemable as a whole (but not in part) on any interest
due and unpaid July 1 1916 on $600,000 1st M. ofthat
in connection with date beginning Oct. 1 1919, at 106 and int. Commencing Aug. 11913, an
Reorganization.-In Aug. 1916 It was reported
, 18.4 miles, a annual sinking fund payment of $209,500 draws bonds at 105 and int.
to
Springfield
Edenwoid
from
extension
the building of the
The stock
system.
are listed on N. Y. and Phila. Stock Exchanges. V. 91, IL 717;
new co. was to be organized to take over the enlarged
share for stock Bonds
for
share
exchanged
be
would
stated,
was
it
co..
V. 92. p. 1179; V. 93, p. 1191.
present
the
of
required
$10,000,000 Public
$600,000
the
provide
to
sold
bonds
As collateral to the notes of 1916 are deposited
in the new co. and additional
red, at par and int.
& Co. were to be in Service
Corporation general mortgage 5s. Notes areint,
for the new line and for exts. and impts. E. W. Clark
payable without
company.
new
the
and
of
Prin.
operation
and
1917.
on
1
March
constructi
after
day
financing,
int.
the
any
charge of
stock auth. and on
present or future law of the U. S.
deduction for any taxes required by anynot
0ROAN IZATION.-Incorp. in Tennessee. Capital $600,000
30-year or
including, however, the normal
g.
county or municipality;
State,
any
of
outstanding. 3750.000. Authorized and outstandin
due July 1 1941. Callable Federal income tax. V. 102, p. 977.
6% gold bonds(c*tf)dated July 1 191.1 and
Co.. trustee.
Dividends.-First div. of 19'. was paid June 29 1907; 1% MIS paid Sept. 30
at 105 and int. Int. J. & J. in Nashville. Nashville Trust
$93,145; net, after 1907 and 1% Dec. 31 1907. In 1908,4%. In 1909.41,6%. In 1910,5%.
EARNINGS.-For year ending Dec. 311916, gross,
Mar..
For
$24,420.
taxes,
after
net,
1911 and 1914,6%. In 1915, ay,%. In 1916,7%. In 1917,
taxes, $26,052. In 1915 gross, $88,839;
report gross In
2%.
the period from Dec. 22 1916 to Mar. 31 1917 the receivers
$6,364.
net,
$16,728;
exxenses,
oper.
1284.
1259,
to
p.
$23,092:
V.
in
104,
earnings amounting
REPORT.-For cal. year 1916, report
and Gallatin.
1013.
1914.
1915.
1916.
ROAD.-Operates approx. 28 miles between Nashville
Gross Earningson April 5 1913. Total
Road was placed in operation for passenger service
$18,255,614 $16,638,142 $16,379,310 $16,201,933
company
Railway
gauge.
Standard
rails.
E.
S.
0.
A.
70-1b.
10,555,556 10,222,668
10,764,878
length of track, 30 miles.
11,911,626
company
Gas
Co.
9,340.749 8,545,845
Enters Nashville over tracks of Nashville By. & LightMgr.,
12,898,064 10,487,281
B. 0. Edgar. Electric company
OFFICERS.-Pres., F. W. Hoover; V.-P. & Gen.
5 $34,970,446
Sec. & Treas., H. B. Whiteman.-V.99, p. 1215; V. 103, p. 2429.
Total gross earnings__343,065,304 $37,800,301 $36,275,61
8 $18,844,608
Oper. expenses & taxes_625,863,854 322,094,678f1$19,892,70
'
1,007,591
CO.
N
1.303,609
NASHVILLE TRACTIO
capital from $500.000 Amortization charges __
This company late in 1914 increased its authorized
line in Nashville. 454 miles
09
$19,852,1
17
78
$21,196,3
$22,094,6
4
to $1,000,000 and is constructing a trolley service.
325,863,85
Total expenses
In April 1915 it was
built, 2 miles in operation. 3 leased cars in
$17.201,450 315,795,623 $15,079,298 315,118,247
V. 100, p. 1349. Net earnings
reported that the Detroit interests had sold their control.
inc.
J.
N.
of
Corp.
S.
P.
OFFICERS.-Pres., Walter 0. Palmer; Nashville; V.-P., W. H. Sawfrom securs. pledged &
2,308,874
2,484,645
2,351,809
yer (E. W. Clark Mgt. Corp.), Columbus, 0.; Gen. Mgr., G. B. Howard,
from misc. sources_ _ _ 1,802,536
Nashville.-V.99, P. 1366; V. 100, p. 1349.
1
$17,427,12
3
32
$17,563,94
$18,147,4
6
$19,003,98
Total income
DeductNATCHEZ, MISS.
&
leased
of
rentals
&
10 $11,911,316
gas and Int.
controlled companies_311,963,114 $12,209,215 $12,097,1
SOUTHERN RAILWAY & LIGHT CO.-Street, railway,
3,267,605
3,841,496
4,099,005 3,966,965
electric.
Fixed chgs. P.S. Corp
562,259
42,248
124,947
.5,826
Cr
over
Southern
took
Other deductions
ORGANIZATION.-Incorporated in 1908 and a
00
00
(6)1,500,0
(6)1,500,0
X)1562500
ion of the Divs.P.S. Corp.stk.(7X)1,937,500(6
Light & Traction Co.(V. 85, p: 1144), which was consolidat
&
Power
Light,
Natchez
the
&
Co..
Power
By.
Natchez Electric Street
$185,941
383,089
$283,805
31,010,193
street
perpetual;
franchise
Balance, surplus
AnTransit Co. and the Natchez Gas Light Co. Gasin
1949. Does the entire
OFFICERS.-Pres., Thos. N. McCarter; V.-Ps.Randal Morgan,
Ingalls;
railway and electric lighting franchises expire business
of Natchez. Has thony R. Kuser, Percy S. Young, E. W. Wakelee; Sec., Percy
street railway, gas, electric-lighting and power
765.
p.
104,
2429;V.
2239,
p.
103.
rth.-V.
Treas., J. W. Van Middleswo
contract with city for street lighting which expires in 1919.
1900.
Interest. Outstanding, Maturity. 1259, 1284, 1388, 1593, 1703.
STOCK AND BONDS- Date.
345.670
($100)
Stock $45,670
ELECTRIC CO.
SERVICE
PUBLIC
1933
15
Apr
335,000
g
A-015
5
See Lt & Trac let M 3500.-1 1903 Inter-State Trust & Bkg. Co., New
entire capital stock.
Controlled by Public Service Corp. by ownership ofon
c*tflint. at
000 gold (31,000)
June 13 1910.
ORGANIZATION.-Incorporated in New Jersey
(Orleans, Trustee, or at First Nat. Bk., N. Y.
to Public Service
assigned
Corp.
Service
Public
.
Are
sub
.1910
extensions
July
and
s
-In
Leases.
Elec. Light &
Bands.-3160,000 are reserved for betterment
Middlesex
J.,
N.
of
Co.
Co. the leases of United Elec.
ject to call at 105 and int. $5.000 have been retired. See V. 76, p. 1086. Electric
Elec. Lt. & Power Co. of
Power Co.. Weehawken Contracting Co.. Nichols
ROAD.-Operates 6 mile; of track: 12 cars.
the electric
and
Co.
Power
&
Heat
Light.
Ratcliff,
Elec.
H.
Citizens'
E.
-P.,
Nutley, N. J., and
OFFICERS.-Pres.. Frank J. Duffy, Natchez', V.
The Paterson & Passaic
properties of South Jersey Gas, Elec. & Trac. Co.,
Natchez; Sec. & Treas.. J. W.Billingsley. New Orleans.-V.86. p. 1501.
Lighting Co. and The Gas
Gtui & Elec. Co.. Somerset Union & Middlesex
Burlington El. Lt.& Pow.Co.
& Electric Co.of Bergen County. Also leases
and Bordentown Elec. Co..
NEWARK, N. J.
Cinnaminson Elec. Lt. Pow. & Heating Co.
& Power Co. and Shore
Heat
Light,
-Street
of
Princeton
'
JERSEY.
properties
electric
NEW
and
PUBLIC SERVICE CORPORATION OP80 and
the power stations owned by
operates
and
Lighting Co. In addition leases;
810
railway, gas and electric.-(See map on pages
Co.
Ry.
Service
Public
and
1903
6
00 in May 1917);
ORGANIZATION.-Incorporated in New Jersey on May
Stock authorized,$50,000,000(increased from $30,000,0
Service Ry. Co., Public
controls, through ownership of stock, Public &
0, all owned (except directors' shares) by Public
Passaic Valley By. Co. outstanding, $25,000,00
On July 11
mtges.,
$254,867.
estate
Real
Service Gas Co.. Public Service Elec. Co., Orange
bonds.
No
Corp.
Service
of the two cos. last named
$3,000,000 capital stock
and United Elec. Co. of N. J. The stockholders
the N. J. P. U. Comm. auth. the Issuance offor
1916
Service
Public
of
which
out
cos.
the
of
es,
of
certain
rs
expenditur
capital
stockholde
advances
and also the
Serv. Corp. for
Jersey Street Ry. Co., to reimburse the Pub.
Ry. Co. was subsequently formed (namely North
Elizabeth Plainfield & making $25,000,000 outstanding.
Jersey City Hoboken bc Paterson St. Ry. Co. and
stations
a
with
20 generating
PROPERTY, &0.-On Dec. 31 1916 had ns;
Central New Jersey Ry.Co.) were given certificates described below in exch.
772 miles of transmission
k. w. and 65 sub-statio
for their stock. See plan in V. 76. p. 865 and also p. 1249. The Fidelity capacity of 224,483 of
of
arc
street
Number
141,918.
conduit. Meters,
line and 149 miles
Trust Co. of Newark financed the transaction.
of Northern New lamps, 10,954, and street incandescent lamps, 29,033. K. w. hours sold in
Controls practically the entire street railway business ut
of New Jersey. 1916, 280,871,843.
Jersey and the gas and lighting interests of the greaterpt
& Power Co..
OFFICERS.-Pres., Thos. N. McCarter; V.-Ps., Edmund W. Wakelee
Also owns entire capital stock of Middlesex Electric Light
& Power Co.of and Percy S. Young; V.-P. & Gen. Mgr., Farley Osgood; Treas., T. W.
Morristown Gas Light Co.(V.91. p.95). Nichols Elec. Light
1903.
Amboy,
(Perth
Co.
Power
Van Middlesworth; Sec., Percy Ingalls.-V. 104, p.
Nutley. N. J.. Citizens' Elec. Light, Heat &
RR. and WeeN. J.), Burlington Elec. Light & Power Co., Public Service Light.
United Electric Co. of New Jersey.
dc
Heat
of
Princeton
stock
of
majority
a
hawken Contracting Co.;
ORGANIZATION.-Organized March 4 1899.
Power Co. and Shore Lighting Co. and practically all of the common stock
to Public Service Corporation.
Lease.-Leased July 1 1907 for 999 years
of New Jersey at Hudson River By. & Ferry Co. Street By. Co.. Jersey
Service Electric Co. Under the
Jersey
North
July 1910 lease assigned to Public of
In
Merger of Subsidiaries.-In 1907
were divided and a
company
of
Co.
Ry.
lease the 9400,000 surplus cash assets29 1907 (V. 85. P. 44)• Rental is
City Hoboken & Paterson Street Ry. Co. and United Street
Ry. Co.. special
dividend of 5% was paid June
Central Jersey were consolidated under the name of Public Service
V. 85, p. 44.
thereafter.
5%
and
also
Co.
By.
years
two
Service
Public
next
for two years,4% for
which see below. V. 85. p. 406 and 470. To
of this company's stock and
held by Public 39'
public Service Corporation owns 319,594,500
have been transferred the leases of various railways formerly
Service
Pub.
bonds.
of
the
merger
the
mortgage
1915
28
first
its
Dec.
On
$683,000 of
Service Corporation.
Interest. Outstanding. Maturity.
By. and the P. S. Newark Terminal Ry. was ratified.and all rights under
STOOK AND BONDS- Date.
320,000,000 See text
J4
In Oct. 1909 all leasehold interest in gas properties
0
320.000.00
Stock
to
the
assigned
were
Co.
Light
Gas
18,617.500 June 1 1949
4g J-D
operating agreement with Plainfield
First mtge 320,000,000 gold 1899
721, 847.
& Tr. Co.,J.0.,Trus.
Gu.
J.
Title
N.
at
Int.
PAblic Service Gas Co.. which see below; also V. 89. p. 594.
-c*.tf
(3500 and $1.000)_properties
power
and
light
In
electric
308,000 June 1 1938
interest
leasehold
J-D
all
it
5
In July 1910
1898
Con Lt Heat & Pow $1,000.- Int.
Trus.
at N.J. Title Gu.& Tr. Co.. J• 0.,
were assigned to the Public Service Electric Co. V. 90. p. 1614. nt page.
tt
gold
(3500)
000
367,000 Oct 1 1938
A-0
5,g
1898
Sale of Bergen Turnpike.-See Bergen Turnpike Co.on &subseque
Pow
&
Hudson Lt Heat
Nor
J.
Co.,
True.
0..
below.
Tr.
By.
Service
&
Gu.
Public
Title
N.
J.
-See
at
Newark Terminal.
32.000,000 ($1,000)---tf Int.
the
Fete Decisien.-The U. S. Supreme Court on June 8 1914 affirmed
are 3115.000 Con. Lt., Ht.'SG Pow.
holding that the
Bonds.-In addition to the above there
guaranteed by Pub. Serv.
decision of the New Jersey Court of Errors and Appeals,
fares
to
reduce
right
the
in hands of trustee. Int. on 1st mtge. is of prin. by extension, rehad
J..
bonds
N.
Chosen Freeholders of Hudson County,
for
payment
provide
to
agrees
Island) & Bergen Corp., which also
bonds are reserved to reto S cents per round trip on the Port Richmond (Staten
mtge.
Corporation. funding or otherwise. V.90. 114. birst
Paint(N.J.) Ferry Co.. which is owned by the Public Service
p.North Hudson Lt.. Ht. & Power Bonds.granted by tire Con. Lt., Ht. & Pow. and
After operating for a year under this rate, an injunctionaswas
P. 414; V. 94. p. 987.
93,
V.
1106;
90,
P. 114.
of Jan. 1 1916, V.85. p.44.288,415; V.
the U.S. Dist. Court and the 5-cent one-way fare restored
Middlesex Electric Light & Power Co.
pending a hearing.
from
increased
was
stock
of Carteret Electric Light &
Stock Increase.-On July 26 1918 auth. capital
ORGANIZATION.-Is a consolidationWas
Oct. 2 1916 had the
leased May 1 1908 for 999
$25,000,000 to $50,000,000. Shareholders of record
Middlesex Lighting Co.
and
Co.
V.
103.
Power
par.
at
rata
pro
stock
new
the
of
0
rental of 5% on stock and int
right to subscribe for 35,000,00
years to Public Service Corp. for an annual
Co. In July 1010.
Electric
Service
p. 1119. 2239.
Public
to
assigned
Lease
Tunnel for Vehicles.-For report on feasibility and value of tunnel for on bonds.
all owned by Public Service Corporation, which also owns $21.000
motor trucks between 12th St., Jersey City. and Canal St., N. Y. City. Stock
bonds.
mortgage
first
the
of
see V. 104. p. 1593. 1703.




MAY, 1917.)

ELECTRIC RAILWAYS

STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock ($200,000)
$
First mortgage ($200,000)1 1905 5 g J-3.
:TOO Jan 1 1955
itfFidelity Trust Co., Newark, Trustee.
gold
Bonds.-Of the bonds, $19,000 are reserved for improvements.
Nichols Electric Light & Power Co. of Nutley. N. J.
ORGANIZATION.-Incorp. in N.J.Jan,3 1896. Stock $25,000 ($50):
all owned by Public Service Corp. No bonds. Was leased May 1 1908 for
999 years to Public Service Corp.(lease assigned to Public Service Elec. Co.
in July 1910) for an annual rental of 10% on stock.
Weehawken Contracting Co.
ORGANIZATION.-Inc.in New Jersey May 9 1904. Is leased to Pub.
int. and 6% on pref. stock. Lease assigned in July
for
bond
Corp.
Service
1910 to Public Service Elec. Co. Stock all owned by Public Service Corp,
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity,
Stock cow $70.000 ($50)$70.000
Pref $41.050 ($50)
41.050
First mortgage $30,000 goldf 1908 6 g Ir-A 20
050 Feb 20 1928
30
1:000
c*tfl Interest at Weehawken Trust Co.. trustee.
($250)
Citizens' Electric Light, Heat & Power Co.
?Leased to Public Service Corp. June 15 1910 for 999 years. and in July
1910 lease assigned to'Public Service Electric Co.: rental equivalent to
10% on capital stock.
ORGANIZATION.-Incorp. in New Jersey on Mar. 1 1905. Stock
auth., $125.000 ($25): outstanding. $41.400 in tf). all owned by Public
Service Corp. except $225 in hands of public. incl. directors' shares.
Burlington Electric Light & Power Co.
FfiORGANIZATION.-Incorporated Oct. 6 1888 in New Jersey. Public
Service Corp. owns entire issue of stock, except directors' shares. Stock
auth.,_ $25,000 ($50) outstanding. $17.550. No bonds. Leased for 900
years from May 1 1911 to Public Serv. El. Co. at a rental of $2,250 per ann.
Cinniminson Elec. Light. Power & Heating Co. of Riverton..N. J.
ORGANIZATION.-Incorp. Nov. 28 1892 and leased to Public Service
Elec. Co. April 1 1914 for 46 years at a rental consisting of the amount
necessary to maintain the corporate organization of the lessor, the interest
on bonded indebtedness of lessor, and $100 per ann., payable each Apr. 1.
All stock ($50,000 authorized and $20,000 outstanding) and bonds
($40,000) owned by Riverside Traction Co.
Bordent_p_wn Electric Co.
ORGANIZATION.-Incorp. May 28 1912, and
is leased to Public Serv.
rs
atio
nrn$
01f0t?i prr annum and anIguonotonecrislElec. Co. April 1 1914 for 46 yetz
corporate
All the
this company is owned bythe
saan7otuntiaaainnctirnig
Traacutilon.
Co. No bonds.
Paterson & Passaic Gas & Electric Co
Somerset Un. & Middlesex Ltg. Co
South Jersey Gas. Elec. & Traction Co
See below under Public
I
Service Gas Co.
Gas & Electric Co. of Bergen County
Shore Lighting Co
Co
Power
&
Heat
Princeton Light,
PUBLIC SERVICE GAS CO.
Controlled by Public Service Corporation by ownership of entire capital
stock except directors' shares.
ORGANIZATION.-Incorporated in New Jersey and was created by
A.
changing the name of the old Oxy-HYegen Co. of the United States
(incorporated in New Jersey in 1873). This latter is said to have had a
perpetual charter under legislative grant conveying the right to manufacture
and distribute gas throughout the State. Company has no bonds.
KiLeases.-On Oct. 1 1909 Public Serv. Corp. assigned to Public Service Gas
Co. the leases of Essex & Hudson Gas Co.. Newark Consolidated Gas Co.,
The East Newark Gas Light Co.and Hudson County Gas Co., in so far
as they relate to the manufacture and distribution of gas, the leases of South
Jersey Gas, Elec. & Trac. Co., the Paterson & Passaic Gas & Elec. Co..
Somerset Union & Middlesex Lighting Co. and The Gas & Elec. Co. of Bergen County. V. 89, p. 594, 721. Operating agreement between Plainfield
Gas Light Co. and Public Service Corp. was also assigned to the Public
Service Gas Co. Also leases the Ridgewood Gas Co. and Morristown Gas
Light Co.. and the gas properties of Princeton Light, Heat & Power Co.
and Shore Lighting Co.
Stock.$30,000,000;$12,600,000 outstanding all owned by Pub.Ser.Corp.
Stock will be issued (V. 89, p. 594) from time to time at par to Public
Service Corp. only for cash or for improvements at actual cost thereof.
No bonds. Real estate mortgages, $257,333.
Rate Beduction.-Accepting the order of the Board of Public Utility Commissioners, made on Dec. 27 1912. the company reduced its rates in
tire
Passaic division on Feb. 1 1913 from $1 10 per 1,000 Cu. ft. (with a reduction of 10c. if bill is paid within a certain time) to $.90 per 1,000 cu. ft.
flat, and in pursuance of the Board's recommendation set the same reduced
rate throughout the State on May 1 1913. See under Pub. Serv. Corp. in
V.96. p. 136. Validity of order was upheld on July 7 1913 by the New Jersey Supreme Court (V. 97, p. 238). but on appeal to the Court of Errors
and Appeals the decision of the former was reversed on Dec.9 1914 by a vote
of 6 to 4. V. 99 p. 1749. On June 14 1915, however, the Court of Errors
reversed its decision of Dec. 9 1914 by the same vote, and sustained the
finding of the lower Court„upholding the order. V. 100, P. 2086. The
company appealed to the U. if. Supreme Court but in Jan. 1917 asked that
the case be dismissed.
The Court also reversed its decision dismissing the appeals of the cities
of Passaic and Paterson, which sought to have an 80-cont rate putinto effect.
Dividends.-Initial div.-2%-paid Dec. 311909. In 1910, 23i %. In
1911 and 1912, 8%. In 1913, 6%. In 1914, June, 4%; Dec. 4%.
Practically all of stock is owned by the Public Service Corp. and dividends
are no longer reported.
OPERA'TIONS, &C.-Sold 12,399,852 M Cu. ft. of gas during 1916; on
Dec. 31 1916 had 3,041 miles of mains and 496,885 motors in service.
OFFICERS.-Same as for Public Service Electric Co. except that H. D.
Mgr.
g.
aGen. M
nd
Whitcomb is the V.-P. and
Hudson Gas Company.
ORGANIZATION.-Incorporated in Nov. 1898 in New Jersey and on
Dec. 1 1898 assumed the lease of Newark Consol. Gas Co. to United
Gas
Improvement Co. for 999 years from Dec. 1 1898. Essex & Hudson
Gas
Co. was leased to Pub. Service Corp. for 900 years from June 1 1903 and
Public
assigned
Service
to
Oct.
1
1909
lease
Gas Co. Under lease, div. rate
Is now 8% per annum. Stock auth. and outstanding. $6,500.000. V. 67.
p. 1002. 1160.
Newark Consolidated Gas Company.
ORGANIZATION.-Incorporated Nov. 30 1898 In New Jersey.
solidation of Newark Gas Co., Montclair Gas & Water Co.. SummitConGas
Light Co.,People's Gas Co. of Irvington and Clinton Gas Co. Owns entire
capital stock of Orange Gas Light Co. and practically all the stock of The
East Newark Gas Light Co. Leased all its property to United Gas Improvement Co. of Phila.. Pa.,for 999 Years from Dec. 1 1898, and on same
date lease was assigned to Essex & Hudson Gas Co. and by last-named
to Public Service Gas Co. Oct. 11909, Lease provides for paycompany
ment of all
fixed charges and diva, on stock commencing 34% July
1 1900
and increasing %% yearly until 5% is reached in 1910; thereafter 5% per an.
STOCK AND BONDS-- Date.
Interest. Outstanding. Maturity.
Stock $6,000,000($100)------ -------- _
56,000,000
See text.
Newark Cons Gas cons mtge1 1898 5 g J-1,6,000,000 Dec 1 1948
$10,000,000 g ($1,000) Ott Int. at Fidelity Trust Co., Newark, trustee.
Newark Gas lstM 34,000.000 1895 6 Q--.1
3,999,700 April 1 1944
$100,$500 & $1.000)-e*tf Int. at Fidelity Trust Co., Newark.
ds.-Of the $10,000,000 Newark Cons. Gas bonds. $4.000.000 are reserved to retire underlying liens. J. William Clark, M. L. Ward and J.
0. if. Pitney are trustees for the Newark Gas 1st 6s.
The East Newark Gas Light Co.
Thisi company was leased to Public Service Corporation for 999 years from
Sept. 1 1909 for annual rental of6% on stock,and lease assigned Oct. 1 1909
to Public Service Gas Co.
ORGANIZATION.-Incorporated in New Jersey. Stock $60.000 ($25):
all out; no bonds. Stock is owned by Essex & Hudson Gas Co. and Newark
Consolidated Gas Co. Operates in Harrison. Kearney,
Arlington.North
Arlington and East Newark.
Hudson County Gas Co.
This company was leased to Public Service Corporation for 900 years
from June 1 1903. Oct. 1 1909 lease was assigned to Public Servic.! Gas Co.
Under lease, div. rate is now 8% per annum.




67

ORGANIZATION.-Incorporated in New Jersey in October 1899, sad
Is a consolidation of the various gas plants in Jersey City and Hoboken.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $10.500,000($100)
$10,500,000
First mortgage $10.500,000f 180 5 g M-N 10,500.000 Nov 1 1949
gold
tf1N. J. Title Gu.& Tr. Co.,Jersey City, trust.
PLANT.-Controls all gas plants in Jersey City, Froboken and Bayonne.
-V.78. p. 770; V. 84. p. 1555.
Ridgewood Gas Company.
ORGANIZATION.-Incorporated April 24 1900. Is leased to Public
Service Gas Co.for 999 years from July 1 1910 at rental of $2,000 per ann.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $100.000
3100.000
First mortgage $100.000 ntfI 1900 5 J-D
100,000 June 1 1923
Int. at Equitable Tr. Co.. N. Y., trustee.
Second mtge S100.000.._ ntf 1905 5 A-0
85.000 April 1 1925
Int. at Fidelity Trust Co.. Newark,Trustee.
Morristown Gas Light Co.
ORGANIZATION.-Incorporated in New Jersey on Feb. 19 1855.
Leased to Public Service. Gas Co. for 999 years from July 1 1910. Rental
equal to 5% per ann. on outstanding capital stock. Stock out.. 5367,500
($100). all owned by Public Service Corporation, except directors' shares.
No bonds.
The Paterson & Passaic Gas & Electric Co.
This company was leased to Public Service Corporation for 900 years
from June 1 1903. Under lease, div. rate was gradually increased and Is
now 5% per annum. In Oct. 1909 gas part of lease assigned to Public
Service Gas Co. and in July 1910 electric part of lease assigned to Public
Service Electric Co.
• ORGANIZATION.-Inc. Feb. 28 1899. Is a consolidation of the various gas and lighting properties of Paterson and Passaic.
Public Service Corporation owns $269.700 of the stock.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $5,000.000(3100) --J-D
$5,000,000
Cons mtge $5,000,000 goldf 1899 5 g M-S
4,049,000 Mch 1 1949
($1,000)
c*tf Int. at First Nat. Bank, Paterson, or First
National Bank, New York.
Edison Electric Ill 1st mtge 1895 5 g J-J
585,000 July 1 1925
$600,000
ntf Paterson Safe Dep & Trust Co , trustee.
P aic Lighting Co cons mtg 1895 5 g M-N
316.000 May 1 1925
0,009
ntf Guaranty Trust Co.. trustee.
Passaic Gas Light 1st mtge. 1892 6 g J-D
50,000 June 1 1922
350,000
n tf'Paterson Savings Institution, trustee.
Bonds.-Of the new $5.000.000 mtge. of 1899, $951,000 is reserved for
underlying liens. The bonds are not subject to call. The Paterson Safe
Deposit & Trust Co. is trustee.
Somerset Union & Middlesex Lighting Co.
ORGANIZATION.-Incorporated in New Jersey on Dec. 1 1903 in the
interest of Public Service Corporation,as a consolidation of Somerset Lighting Co. of Somerville. N. J.: Plainfield Gas & Electric Light Co. of Plainfield, N. J., and Citizens' Electric Co. of North Plainfield (V. 78. p. 107).
On Dec. 30 1903 Central Elec. Co. was also merged in the same. Public
Service Corp. owns $422,400 of the stock. 5573.182 Som. Un. & Mid. Ltg.
Co. bonds. $21,000 Somerset Ltg. Co. 1st 5s and $20,200 Cent. El. Co. 5s.
LEASE.-The co. was leased to Pub. Serv. Corp. for 900 years from
Jan. 1 1904 on the following terms, viz.: All interest, expenses and
taxes to be paid by Public Service Corporation,and, as rental, a dividend
on the stock accruing as follows: From Dec. 1 1905. 1% ;Dec. 1 1966.
1347; Dec. 1 1907. 2%; Dec. 1 1908,2%%;Dec. 1 1909,3%; Dec. 1 1910.
334%,• Dec. 1 1911 and thereafter. 4%. So much of lease as relates to
manufacture and distribution of gas has been assigned to Pub.Serv. Gas Co.:
remainder of lease applying to electric properties has been assigned to
Public Service Electric Co.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $1,050.000($100)-----J-D
$1.050,000
See text.
Somerset Un & Mid Lt Co Mf 1903 4 g J-D
1.974,372 Dec. 1 1943
$2,750,000 ($1,000) g_c*tflInt. at Fidelity Tr. Co.. Newark,Trustee.
Underlying bonds assumedPlainfield Gas & Elec Lt gen 1900 5 A-0
500,000 April 1 1940
mtge $500.000
tf Guaranty Trust Co.. New York, Trustee.
Somerset Lighting Co first 1899 5 F-A
150.000 Feb 1 1939
mortgage $150.000
tf Fidelity Trust Co., Newark, Trustee.
Cent Elec consul mtge $750,- 1900 5 g J-J
700.000 July 1 1940
000 ($500 & $1,000) g-c*tf Int. at Fidelity Tr. Co., Newark, Trustee.
Edison Elec Ill of N B 1st 1888 6 J-D
50,000 June 1 1918
mortgage 550.000
ntf B. F. Howell and T. E. Townsend, trustees.
Bond.s.-$1.128,372 of the 903 bonds have been issued in exchange for
the stocks of the companies consolidated and $846.000 for extensions and
improvements; $503 is reserved for Central Electric stock not yet acquired
(the company having previously obtained the remainder of the 5750,000
total stock of that company). $775,000 to retire the underlying bonds and
$125 for future additions and improvements. No sinking fund, and bonds
cannot be called. Of Central Electric Co. bonds, $50.000 is reserved to
retire a like amount of Edison Elec. Illum. Co. bonds. Central Elec, bonds
are subject to call at 110 and int. V. 78. p. 107.
South Jersey Gas, Electric & Traction Co.
This company was leased to Public Service Corp. for 900 Years from
June 1 1903 (at a graded rate of dividend, the maximum of 8% per annum
having been reached in the eighth year), and on Oct. 1 1909 so much of the
lease as relates to the manufacture and distribution of gas was assigned to
the Public Service Gas Co. Its traction business is leased to the Public
Service Ry. Co. and its electric business is leased to Public Service Electric
Co. Public Service Corp. owns 53.507.000 of South Jersey Gas. Electric
& Traction first mortgage 58.
ORGANIZATION.-Incorporated Aug. 31 1900 to bring under one control the gas, electric light and trolley interests in Southern New Jersey.
Also owns the entire capital stock ($600,000) of the Camden Gloucester
& Woodbury Ity., which has been leased to Public Service Ry. Co.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $6,000,000($100)J-D
56,000.000
See text.
1st mtge $15,000.000 goldf 1903 5 g M-S
12,892.000 Mch 1 1953
c tf Int. at Fidelity Tr. Co.. Newark.N.J.,Trust.
Trenton0
0
)
&El 1st M 52,000.- 1899 5 g M-S
2,000,000 Mch 1 1949
000 gold ($1,000)
tflint. at Equitable Trust Co.. N. Y.. Trustee.
Burlington Gas Lt Co 1st MJ 1901 5 g M-N
100,000 May 1 1921
ntflint. at Burl. City L.& T. Co., Burl., Truet.
$100 000
Bonds.-Of the new 515. ,000 issue, $2.108,000 are reserved to retire
prior liens. No sinking fund and bonds cannot be called.-V. 76. p. 332.
544.866. 1144. 1250; V.78, p. 1449: V.86. p. 1530; V.95, p. 1685.
New Brunswick Light, Heat & Power Co.
ORGANIZATION.-Incorporated in New Jersey on Dec. 7 1899. Ow=
all the stock of The Gas Light Co. of New Brunswick, except directors'
shares. Int. on bonds is paid by Public Service Gas Co. through lease of
The Gas Light Co. of New Brunswick. See latter company b
below.
STOOK AND BONDS.- Date.
Interest. Outstanding.
0
Stock $500,000 ($100)------J-J
$400,
See text.
First mtge 3500.000 goklf 1899 4 g J-D 15
500,000 Dec 15 1939
($500 and $1.000)____c*tf1Int. at Fidelity Trust Co., Newark, trustee.
(a) The Gas Light Co. of the City of New Brunswick.
ORGANIZATION.-Incornorated on Mar. 18 1851. Stock authorized
and outstanding, $400,000, all owned by New Brunswick Lt., Ht. & Power
Co. except directors' shares. Was leased to the Public Service Corp. for
900 years from Jan. 2 1905 (June 1 1906 lease assigned to South Jersey
Gas, Elec. & Tree. Co.), rental being payment of int. on bonds of New
Brunswick Lt.. Ht.& Pow. Co. and diva. on stock of Gas Lt. CO. of City of
New Brunswick, as follows: 2% in each of the years 1905 and 1906. 234
in 1907 and 1908. 3% in 1909 and 1910,334% in 1911. 4% in 1912.4%
In 1913 and 5% in 1914 and thereafter. The company is now controlled
by Public Service Gas Co. by reason of assignment of lease of gas properties
of South Jersey Gas. Electric & Traction Co.
Gas & Electric Co. of Bergen County.
LEASE.-Was leased to the Public Service Corp. for 999 years from
Jan. 1 1905. Dividends are 2% for first two years,
% for the next
year, 3% for the next two years. 4% for the next four years and 5% thereafter. Oct. 1 1909 so much of lease as relates to manufacture and distribution of gas was made over to Public Service Cas Co. and in July 1910
lease of electric properties was assigned to Public Service Electric Co.

68

ELECTRIC RAILWAYS

[Vol.. 104.

OF JERSEY CITY HOBOKEN & PATERSON ST. RY.
ORGANIZATION.-Incorp. May 31 1899. Is a consolidation of several 1 SECURITIES
Interest. Outstanding. Maturity.
Date.
small gas and electric-light companies. Public Service Corp. owns $453.- '
Nov 1 1949
Jer city Hoboken & Pater-{ 1899 4 g M-N 314,061000
000 of general mortgage No. 2 bonds.
New Jersey Title Guarantee &
at
Interest
$20,gold
mtge
1st
son
Interest. Outstanding. MaturitySTOCK AND BONDS- Date.
Trustee.
City.
Jersey
Co..
Trust
c*tf
000,000 ($1,000)
See text.
$2,000,000
Stock $2,000,000($100)
Bonds of Constituent Cos.
38,000 Nov 1 1954
Gen mtge No. 1 $5,000,000 1904 5g M-N
2,998,000 July 1 1928
North Hudson County By 1888 5 J-J
tf Equitable Trust Co.. N. Y., trustee.
gold ($1.000)
ntr Int. at First Nat. Bank. Hoboken.
mortgage
1st)
(now
consol
1954
1
Nov
2,071,000
M-N
5
1904
tf
Gen mtge No.2$5.000,000
33.000,000
Trustee.
Fidelity Trust Co., Newark,
1,291,000 May 1 1924
1894 5 M-N
1,443,000 June 1 1949 Nor Hud Co Ry impt mtge
Consolidated mortgage $1,- 1899 5 g J-D
tf Int. at Fidelity TrustCo., Newark, Trustee.
$1.500,000 ($1,000)
tf Fidelity Trust Co.. Newark,trustee.
500,000 gold
100.000 Feb 1 1945
-A
F
5
1895
MortExtension
Weehawken
1939
1
23.000 Jan
Englew G & L gen mtge_ _ n tf_ 1899 5 J-J
ntf Fidelity Trust Co., Newark, Trustee.
gage ($100,000)
10,000 July 1 1936
Hack Gas 8c El 1st mtg.e_ntf_ 1895 5 J-J
1,250,000 June 1 1931
6 g J-D
1891
M(nowlst)
Con
Ry
Paterson
1934
1
July
24,000
J-J
5
Hack G L 1st M ($1,000) cntf 1894
g 31,250,000 (31, 00) ct 1Columbia Trust Co., N. Y., Trustee. 1944
300,000 Oct 1
Bonds.-Of the general mortgage for $5,000,000, $1,538,000 is reserved
By 2nd gen mortI 1894 5 A-0
The Paterson
red at any timelFidelity Tr. Co., Newark, N. J., Trustee.
to retire prior liens and $1.391.000 for additions and improvements.
$300,000
f
ctt
gen. mort., of which the Equitable Trust Co. is trustee was superseded
$1,000)
($500 and
by the similar mtge. of which Fidelity Tr. Co. is trustee. V. 80. p. 653.
Bonds.-$5,939,000 J. 0. II. & P. first 4s are reserved for prior liens.
Of the J. C. H.& P. bonds outstanding. $1.498,000 are owned by Pub. Serv.
Shore Lighting Co.
The 2nd 5s of the North Hudson County Ry. expired May 1 1904,
Corp.
ORGANIZATION.-Incorporated March 21 1911 in New Jersey and is a but were extended until May 1 1924. See V. 78, p. 1392. These bonds
consolidation of Shore Elec. Co., Sea Bright Elec. Lt. Co. and Citizens'
at 110 and int. on any Int. date. V. 78, p. 1392. See also
redeemable
are
Corp.
S.
P.
by
owned
bonds were due
Lt. & Fuel Co. of South Amboy. $104.900 of stock'
V. 97, p. 1664. 1899. The Weehawken Extension mtge.
The electric properties have been leased to Pub. Serv. Elec. Co. and the Feb.
1 1915 but were extended for 30 years. V. 100, p. 399. The Paterson
gas properties to Pub. Serv. Gas Co.;the leases are for 900 years from May 1 By.2d gen. M.6% bonds fell due Oct. 1 1914 but were extended for 30 years
equivalent
the first
1911 and provide for payment of interest on bonds and amount
at 5%. V.98,p. 1993: V.99. p. 1053. Red. April 1 1931 and on
to 5% per annum on the authorized stock.
day of any succeeding Oct. or April by Public Serv. By. Co. in manner
Interest. Outstanding. Maturity. provided in mortgage.
STOOK AND BONDS- Date.
$112,000
Stock $112.000 ($1OO)
OF UNITED ST. BY. CO. OF CENTRAL JERSEY.
400,000 April 1 1951 SECURITIES
First mortgage $400,000 gold' 1911 6 g A-0
Interest. Outstanding. Maturity.
Bonds of Constituent Cos.- Date.
tf1 Int. at Fidelity Tr.Co.,Newark,N.J.,trust. Eliz
52.400.000 Dec 1 1950
($500)
Jer mtge 1900 5 g J-D
Cent
Plain &
Bonds.-3341.500 bonds were issued to take up $341,500 Shore Electric
Interest at Fidelity Trust Co.. Newark.
g_c*tf
(31.000)
$2,500,000
are
bonds;
Co.
Fuel
&
Lt.
Co. bonds and $58.500 to take up $46,800 Cit.
Trustee.
called
be
cannot
&
f
s
No
-guar.. prin. & int., by Public Service Corp.-V.92. p. 1640.
100,000 July 1 1922
Plainfield Street Ry first mtg 1892 5 J-J
Trustee.
(31.000) Call in 1904_c*ntf Int. at Fidelity Trust Co., Newark,
Princeton Light. Heat er Power Co.
1,500,000 May 1 1954
5 g M-N
St
1904
Riv
Raritan
&
Elizabeth
Trustee.
Newark
Co..
Trust
In 1910 Public Service Corp. acquired control. V. 91, P. 399. Public
Fidelity
By gen M $3,500,000--tf
July 1 1926
500,0
•
Service Corp. owns $115.850 stock.
Brunswick Trac M g ($1,000) 1896 5 g J-J
Cannot be called_ _ _c*ntf Fidelity Trust Co.. New York, Trustee.
ORGANIZATION.-Incorporated in New Jersey on July 31 1905 as a
Jan 1 1950
000,000
1
and
Middlesex & Somerset Trac g 1900 5 g
consolidation of Princeton Elec. Light Works,Princeton Gas Light Co.
Newark,Trustee.
M 31.500.000(31,000) c*ntf Int. at Fidelity Trust do.,
Hopewell Elec. Lt.. Heat & Pow. Co. Electric properties have been leased
May 1 1944
500,000
M-N
g
5
leases
the
1904
Serv.
Co..
Gas
$500,to
mtge
Pub.
1st
East Jersey
to Pub. Serv. Elec. Co. and gas properties
tf Perth Amboy Tr. Co., Perth Amboy,Trust.
000 gold guar p & I
being for 900 years from May 1 1911, and providing for payment of interest
Co.
bonds dated
By.
Jer.
stock.
Cent.
&
outstanding
Plain.
on
ann.
per
Eliz.
2%
of
to
issue
total
equivalent
the
amount
Bonds.-Of
on bonds and
of Plainfield Street By.Co.
Interest. Outstanding. Maturity. 1900,3100.000 is held to provide for like amount
STOOK AND BONDS- Date.
Of Eliz. & Raritan River Street By. Co.
1310.
p.
71.
See
V.
bonds.
$122,500
Stock $250,000 ($50)
Serv.
Feb 1 1939 gen. mtge. of 1904. 32.000,000 are reserved to retire prior liens. Pub.
1st ref mtge $250,000 gold s ff 1909 5 g F-A Trust182,500
Co., N. Y. trustee. Corp. owns $154,000 Eliz. Pl. & Cent. Jers. 5s and $274,000 Eliz. & Rar.
($100. $1,000 or frac)..c*tflInt. at Equitable
bonds.
Ry.
St.
River
any
on
Bonds.-Bonds are guar., p. & I., by Pub. Serv. Corp. Red.
in '10.
Dividends.-First div.--2-3%-paid Dec. 31 '08; in '09, Dec.,2%;in
int. day at 105 and int. Sinking fund 4% of gross earnings of company be'14.
'13, Dec., 1
2%; in '11. Dec.. ni%; in '12, Dec., 134%: inPublic
gun in 1910.-V. 91. p. 399.
Corporation
Service
by
owned
stock
entire
Practically
Dec.,1U %.
reported.
longer
no
dividends
and
81.)
and
80
on
pages
map
-(See
CO.
PUBLIC SERVICE RAILWAY
Railroad) 536.181 miles
ROAD, &c.-Owns (Including Public Service turnouts
Controlled by Public Service Corporation through ownership of all but
and 58.454 miles
and
first main track, 296.112 miles 2d main track
26 shares of stock. No lease.
miles of track.
Total,
890.747
&c.
track,
yard
loops,
connections,
of
ORGANIZATION.-Organized Aug. 30 1907 as a consolidation of the 560
open and 1,704 closed cars.
Co.
were reveNorth Jersey Street By. Co.. Jersey City Hoboken & Paterson St. Ry.
which
of
342,205,993
451,698,012,
in
1916,
carried
Passengers
of exand United St. By. Co. of Central Jersey. V. 85, p. 406. For basis
passes. In 1915, 414,422,040, of which
this Sec- nue and 109,492,019 transfers and
change of stocks of these companies for stock of new company,see
transfers and passes.
100,498,677
and
revenue
were
313,923,363
the
Newark
absorbed
in
1898
Ry.
St.
Jan.
Jersey
tion for Sept. 1915. North
in
OFFICERS.-Same as for Public Service Elec. Co.. except that R.E.
& So. Orange. The Jersey City Hobok. & Paterson was a consolidation
Ry. Danforth is the V.-P. and Gen. Mgr.-V. 100. p. 557; V. 104, p. 1593.
Nov. 1899 of the following: Jersey City Hoboken & Rutherford Elec.
Horse
By.
Co..
Paterson
Elec.
Central
Paterson
Co., Palisades RR. Co.,
(1) Consolidated Traction Company.
RR.Co., Paterson Passaic & Rutherford Elec. Ry. Co., Saddle River Trac.
Incorporated Mar. 15 1893. On June 1 1898 leased to North Jersey
Co., White Line Trac. Co., formerly the New Jersey Elec. Ry. Co. In Street By. for 999 years, and lease has now passed to Public Serv. By. Co.
Co.
Ry.
Co.
Hudson
North
Co.
and
1901 it absorbed Paterson Ry.
V.
66. p. 1141. Validity of lease was affirmed in Feb. 1902(V.74. p. 380)
United Street Ry. Co. of Central Jersey was a consolidation in July 1907of and again in Feb. 1903. V. 76. p. 382.
Elizabeth Plainfield & Central Jersey Ry. Co.(which was chartered in 1900
under lease are now 4% per annum.
Dividends
and
Elizaand
companies)
other
as a consolidation of Plainfield St. Ry. Co.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date.
beth & Raritan River Street By. Co.(which was a consolidation on April 30 Stock
See text.
J-J 15
315,000,000
all paid in ($100) ____
Co.
1904 of Middlesex & Somerset Traction Co.and East Jersey Street Ry. Co..
7,308,000
below_
-see
bonds
Underlying
which latter company had previously absorbed Raritan Traction
1 1933
June
15,000.000
J-D
g
5
1893
First mortgage gold 315.000,-j
Perth Amboy RR. Co. and East Jersey Traction Co.)
tflInterest at Bankers Tr. Co., N. Y.,Trustee.
000 ($1,000)
Newark Terminal.-On Dec. 28 1915 stockholders ratified the
by
but
also
mortgage,
by
only
not
secured
are
1893
of
bonds
gold
The
merger (approved by the Board of P.U.Comm.) of the Public Service Ry. deposit of 31.000.000 stock of J. C. & Bergen RR.. $161,625 stock of
and the Public Service Newark Terminal By. under the name of the former
stock Newark Passenger Ry. and $99,$6,000,000
Co.,
Road
Plank
Newark
The
1916.
Jan.
effective
for
share,
share
through an exchange of stock,
Co.
construct an office and 100 stock of Jersey City Harrison & Kearney Ry.
Terminal Ry. Co. was incorporated in April 1913 to the
business section of
190 miles of track, Including the N.J. Traction
terminal building and approaches in the heart of
about
-Operates
ROAD.
The
2011.)
entire
Elec.
&
Newark. (For description of property see V. 100, p.
Co.. Newark Passenger By., J. O. & Bergen RR., Passaic Newark
property is leased for 50 years from date of occupancy to the Public Service Trac. Co., J. C. liar. & K. RR. and Newark Plank Road, all of whose
Service Gas
By. Co.(with which the co. was subsequently merged), Public
owned.
are
stocks
a sum sufficient
and controlled lines:
Co. and Public Service Elec. Co. for a rental not less thanand
Stock, debts and mileage of the leased
sinking fund
Funded debt.
Stock.
Miles.
to pay the taxes, water rates, maintenance and interest
on 1st M. bonds. The terminal was opened for street New Jersey Traction Co
3500,000
nnthe
None
ratoio
emoepnets
ry
ula
rnw
36,000.000
April 30 1916; offices occupied in July 1916. Plans Newark Passenger By
6,000,000
83
railway operation
500,000
504,000
12
for combining the company's terminal facilities with those of the Hudson & Rapid Transit Street Ry
258.000
1,000,000
41%
Manhattan RR. are under consideration. See V. 104, p. 765.
RR
Bergen
&
City
Jersey
*100.000
_10
Ry_
In addition to above,Public Service By.leases Consolidated Traction Co.,
Kearney
&
Jersey City Harrison
162,000
4 4-5
South Orange & Maplewood Traction Co., Bergen Turnpike Co., Orange & Newark Plank Road
550,000
1,000,000
1034
Passaic Valley By. Co.,Camden & Suburban Ry Co., Camden Gloucester Passaic & Newark Electric Traction_
40,000 shares
--& Woodbury By. Co.. New Jersey & Hudson River My. & Ferry Co. and Port Richmond & Bergen Point Ferry
Riverside Traction Co., which companies see below. Also owns all stock
318.000 has been paid in.
this
On
*
of People's Elevating Co.
(a) Jersey City & Bergen Railroad.
Completed in 1912 a terminal station at Sip Ave., Jersey City, connectstation there.
&c., total track. 4134
ing with the Penn. RR. station and also with the tunnel
ROAD.-Owns from Jersey City to Bergen Point,
& W. RR,
all the stock being deA terminal station at Hoboken connecting with the D. L.
miles. Controlled by Consolidated Traction Co..
in
1910.
May
was
completed
mortgage.
there
1st
terminating
tunnels
Co.
station and also with
posited as part security for the Traction
Sale of Bergen Turnpike.-See Bergen Turnpike Co. below.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
License Fee Invalid.-The Supreme Court of New Jersey Oct. 21 1911 set
31.000.000 f.-p.
Stock
fee
license
a
imposing
of
Paterson
City
the
of
aside as invalid an ordinance
258,000 Jan 1 1923
J-J
434
1873
mortgage
31,000,0001
First
ordiof $25 for every trolley car operated within the city limits. A. similar1915,
lstNat.Bk.. J.C.
Co.,N.Y.,or
Int.atBkrs.Tr.
c*ntfl
(31.000)
nance was passed by the Hoboken City Service Comm. on Aug. 4 Court
Jan. 1 1903. but were exmatured
7s)
bonds
(originally
-The
Bonds.
Supreme
the
and
of
writ
a
certiorari
but the company has obtained
date.
that
years
20
from
for
454s
as
tended
will review the ordinance.
Transfer Decision.-On June 21 1912 Court of Errors and Appeals af(b) Newark Passenger Railway.-Electric.
firmed the decision of Supreme Court on Dec. 26 1911. which sustained the
ORGANIZATION.-Incorporated June 16 1890. On July 29 1893
the
order of the Public Utility Comm. requiring the company to continue
leased to New Jersey Traction for 999 years, and so controlled ny tne ConIssue of transfers to all intersecting lines in Newark, but did not grant trans- solidated Traction Co.of New Jersey, N.J. Traction Co. having been leased
fers on a transfer.
to Cons. Trac. Co. Jan. 2 1894 for 999 years. Charter said to be perpetual.
In April 1917 tho Bd. of P. U. Comm. authorized the co. to issue $2,000,LEASE AND RENTAL.-Rental under the lease. $105,000 yearly.
000 additional stock at par (not incl. in amount reported outstanding).
Maturity.
Interest. Outstanding.
STOCK AND BONDS- Par.
Rate.
Outstanding. Maturity
ate.
STOCK AND BOND$6.000,000 Own.by0.Tr
Text
$100
Stock
Stock $50,000,000($100)----- -_-__$46,',31,600
1 1930
July
J-J
6,000,000
g
5
1,000
cons
1st
Mi
Newark Pass By
•
June
P. S.Newark Term.Ry.1st XI
& Trust Co., Trustee.
1890 36,000,000 gold-c*tf N. J. Title Guar.
$5.000,000g ($1.000)_ _ c*tf Int.at Fidelity Trust eo.,1%Iewark, Trustee.
Consolidated
for
the
security
as
deposited
all
is
stock
$6,000,000
text
The
See
80,000
6 J-J
Car trust certfs Ser "A"__ -tf 1908
Int. at Fidelity Tr. Co., Phila., Pa.. trustee. Traction Co. first mortgage.
National Bank, Jersey City.
Interest on consol. 5s is payable at First
See text
158,000
- 5 j-J
Car trust arts Ser "B"___ _ tf 1910
Trac. Co. and in Feb. 1895 the
Int. at Fidelity Tr Co., Phila., Pa., trustee. The consols are guar. p. & I. by Consol.
V. 81, P. 900.
969:
p.
See text guaranty was stamped on bonds. V. 59,
275,000
Car trust certfs Ser "C"__-tf 1912 5 M-S
NOAD.-Embraces about 83 miles of track.-V.81. P. 900.
Penn. Co. for Ins. on L. & G. A., Trustee.
Co. of the City of Newark.
•
278,435
Real estate mortgages ___
(C) Rapid Transit Street Ritilway
Bonds.-The P.S. Newark Term. Ry. bonds are unconditionally guar.as t
ORGANIZATION.-June 1 1893 leased to Newark Passenger By,and
prin., int. and sinking fund by endorsement, jointly and severally, by the Included with it in lease to New Jersey Traction, and so forms part of
Public Service Ry. Co. and Public Service Corp. of New Jersey. Sinking Consolidated Traction system.
Interest. Outstanding. Last div.,c%c
fund of $30,000 annually beginning April 15 1920. Red. as a whole on or
STOOK,BONDS,ETC.- Par.
See text
after June 1 1920 at 105 and int. on six weeks' notice ; also callable for skg. Stock
1134 J-D30 $504,000
500,000 April 1 1921
g A-0
fund on June 1 each year, beginning in 1920. at 102A (V. 100, p. 2011)•
5
31,000
g_c*ntf
$500,000
mtge
Newark.
Trustee.
Co.,
Car trust certificates Series "A" were formerly an obligation of the Publie First
Fidelity
Trust
at
Subj. to call at 110 & int.lInt.
Service Corporation, but lease of equip. trust cars was assigned to Public
Dividends of 1184% yearly are guaranteed by the Newark Passenger and
Service By. Co.and cert. obligation assumed by Railway Co. They mature New Jersey Traction companies upon the stock.
mature
"B"
Series
certificates
1.
and
Jan.
1
July
semi-annually
$40,000
$22,000 on each Jan. 1 and. $23,000 on July 1. Series "0" certificates ma(d) Passaic & Newark Electric Traction Co.
acquired all the
ture $25.000 every Mar. 1 and Sept. 1.
ORGANIZATION.-Incorporated April 30 1895 and
stock of Passaic & Newark Electric By. Consolidated TracBY.
STREET
51.000.000
JERSEY
OF
NORTH
SECURITIES
bonds.
the
guarantees
and
stock
the
all
Date.
Interest. Outstanding. Maturity. tion Co. owns
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date.
First mortgage 315,000.000 1898 4g M-N $15,000,000 May 1 1948
11.000,000
Stock 31.000.000($100)__
tf Bankers' Trust Co., New York, Trustee.
gold ($1.000 each)
550,000 June 1 1937
5 g J-D
Interest at Fidelity Tr. Co.. Newark, N. .1. 1st M $1,000.000 guar p & if 1897
y CitY.Trus.
Gu.&Tr.,Jerse
Title
J.
N.
at
J___tflInt.
N
of
Trac
by Consol
Of the 1st mtge. bonds,$7,230,000 are owned by Public Service Corp.




MAY, 1917.]

ELECTRIC RAILWAYS

69

(2) South Orange & Maplewood Traction Co.
PUBLIC SERVICE RAILROAD.
This company was leased on Oct. 1 1903 to North Jersey St. By.Co.(now
ORGANIZATION.-A consolidation (under agreement dated June 30
merged in Public Service By. Co.) in perpetuity, the rental being $2,000 1913) of the Elizabeth New Brunswick & Trenton
RR. and the Trenton
for
year
first
and
increasing
stock
on the preferred
$500 yearly until ninth Terminal RR. Capital stock authorized. $500,000; outstanding,
$285,000.
year, when $6.000 is paid, which amount is to be paid thereafter. Rental is all owned by Public Service Corp. of New Jersey except
directors' shares.
guaranteed by Public Service Corporation of New Jersey. V. 77, D. 824.
Regular trolley service between Newark and Trenton July 1 1913,
and
ORGANIZATION.-Consolidation in July 1901 of South Orange & service between Newark and Perth Amboy inaugurated about July 1 1914.
Maplewood Tr. Co. and South Orange & Maplewood St. By. Co. Stock V.97, p. 522. The branch line to Roosevelt Borough was placed in operation Dec. 8 1915.
auth. and out., common. $75,000; preferred. $150,000. No bonds.
(1) Elizabeth & Trenton RR.
(3) Bergen Turnpike Co.
Lease.-Leased to Trenton Terminal RR. (subsequently merged in
Leased to Public Service By. Co. Jan. 1 1908.
Service RR. Co.) for 999 years from April 1 1912. Rental 5% on
Public
ORGANIZATION.-Originally chartered on Oct. 27 1802 with $51,990
pref. stock, and, beginning with the year ending April 1 1915.
capital ($10 shares). Jersey City Hoboken & Paterson (now merged in the outstanding
outstanding com., with additional 1% annually until 4% is paid.
1%
on
Public Service Ry. Co.) owned a majority of the stock and guaranteed its
$1.000,000 5% bonds, dated 1901, due July 1 1951; interest J-J (tf); prin. V. 94, p. 697.
ORGANIZATION.-Incorporated in New Jersey on May 19 1910 as
and int. payable New Jersey Title Guar.& TI•ansit Co.,Jersey City, trustee.
In Doc. 1915 the turnpike between Hackensack and the Hudson County successor to the Trenton & New Brunswick RR. and the New Jersey Short
line, south of Fairview, over which an electric road was constructed in 1902 Line RR., both sold at foreclosure. See plan in V. 89. p. 1282. 1349.
was turned over to the Bergen County Board of Freeholders for the sum of
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1, the P. S. Corp. giving a bond assuring the payment of the $1,000,000 Common $900,000 ($50)---A-0
$811.350
5% bonds due 1951. V. 101, p. 1974.
Pref $300,000 5% cum ($50)__
A-0
180.300
First mtge 81.200.000 gold l 1912 5 g A-0
(4) Orange 6: Passaic Valley RY. CO.
990,000 Apr 1 1962
Leased for 900 years from Nov. 1 1903 to Public Service Corporation for
($1.000)
c* tflInt. at Logan Trust Co., Philadelphia, Trus.
Interest on the trust certificates issued in exchange for stock. Lease was
Bonds.-First mtge. bonds are subject to call as a whole on any int. day
assigned to North Jersey Street By. Co. July 23 1907 and now held by at 110 and
int.
and int. are guar. under terms of lease by the
Public Service By. Co. $923,500 of the stock owned by Pub. Serv. Corp. Trenton Terminal Prin.
RR., whose obligations are guar. in turn by the Public
ORGANIZATION.-Incorporated in 1898 as successor of Suburban Service RR. and the Public Service Corporation.
ROAD.-Owns 49.656 miles equivalent single track; standard-gauge.
Traction Co., sold in foreclosure July 6 1898.
BONDSDate,
Interest. Outstanding. Maturity. 23 closed cars. V. 90. p. 1362: V. 94. p. 697.
Stock
$1.000.000
833,000 Dec 1 1938
1st mtge $1,000,000
5 J-D
tf 1898
NEW BEDFORD, MASS.
N.J. Tit. Cu.& Tr. Co. of Jersey City,Trus.
$83.000 of outstanding bonds are owned by Public Service Corporation.
NEW BEDFORD & ONSET STREET RY.-A trolley road.
ORGANIZATION.-Incorporated in Massachusetts in 1901. This com(5) Camden & Suburban Railway Co.
Was leased on May 1 1904 to Public Service Corporation for 999 years pany is owned in the same interest as the Union St. By. Co. In June 1906
rental being (in addition to fixed charges) $30,000 for first year (1905), issued $50,000 new stock in exchange for the $150,000 stock of the Taunton
$36,000 the second year, $42,000 the third year, $48,000 the fourth year, & Buzzard's Bay St. Ry., which was a reorganization of the Middleboro
$54,000 the fifth year, $72,000 the sixth year, $84,000 the seventh year, Wareham & Buzzard's Bay St. By. V. 82, p. 1438.
$96,000 the eighth year, $108,000 the ninth year and $120,000 the tenth
Fare Increase.-The Mass. P. S. Comm.in Sept. 1915 auth. the company
year and thereafter. V. 78. p. 2383. Lease was assigned to Public to increase its single cash
fare from 5 to 6 cents and to sell 20 tickets instead
Service Railway Co. Sept. 24 1907.
of 24
$1, and special school tickets 10 for 30 cents instead of 10 for 25
ORGANIZATION.-Formed in 1896. Controls Camden Horse RR. cents.forV.
101,
p.
923.
Jersey
West
Traction
(which is leased) and
Co.(stock $60,000).
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
Interest. Outstanding. Maturity. Stock,$550,000
STOCK AND BONDS- Date.
($100)
$550,000 Dec.'13,3%
Stock $3,000.000 (325)------See text.
See text First mortgage, $500,000, 1902 5 g J-J
280,000 Jan. 1 1922
1946
1
July
1st mortgage $3,000,000 gold; 1896
$1,940,000
5 -4
gold ($1,000)
International
Int.
c*ntf
at
Tr.
Co., Boston, Trus.
ctfl
Int.at
N.J.Tr.&SafeDep.Co.,Camden,Trus.
($1,000)
No sinking fund and not subject to call.
Stock.-The stock is all outstanding; 20% paid in.
MW&BB
1st mortgage, 1901
4 g A-0
150.000 Oct. 1 1921
Bonds.-Of the 1st mtge. bonds,$1,000,000 are reserved to retire stock of
6150,000 ($1,000) g__cntf Int. at Federal Trust Co., Boston, Trustee.
Camden Horse RR. and $60.000 are for extensions. V. 94, p. 1185.
Bonds.-The Middleboro Wareham & Buzzard's Bay bonds have no
ROAD.-Operates 91.3 miles of track. Connection through to Trenton
sinking
fund, but are subject to call before Oct. 1 1921 at 105 and int.
Riverside
Traction
(now
over
Is made
leased by P. S. Ry.). V. 78, p. 1781.
See V. 73, p. 1313. Int. was formerly 5%,but on consolidation with New
2383; V. 88, p. 1126; V. 89, p. 154; V. 94. p. 1117, 1185.
Bedford & Onset was reduced to 4%•
(a) Camden Horse Railroad Co.
44.05 miles of track between Fairhaven and Onset and
ORGANIZATION.-Incorp. March 23 1866. Stock, $250,000 ($25)• in ROAD.-Owns
and to Buzzard's Bay and to Monument Beach. 28 passenLeased to Camden & Suburban Ry.from Apr. 1 1896 for 999 years. Rental gerMiddleboro
cars, 4 snow plows, 4 miscellaneous and 104 electric motors.
&c., received, $60,000 per annum, from which is paid 24% on stock. All
EARNINGS.-For 12 mos. ending June 30 1916, gross, $167,886; net.
bonds have been canceled.
$20,049; int. and taxes, $29,335; deficit, $9,286. Revenue passengers
ROAD.-Has 30.11 miles of track.
carried
in 1915-16, 2,407,420, against 2.726,401 in 1914-15.
(6) Camden Gloucester & Woodbury Railway Co.
OFFICERS.-Pres., H. H. Crapo; V.-P., E. S. Wilde; Sec., Clarence
Leased to Public Service By. Co.
A.
Treas., E. F. Nicholson; Supt., Geo. P. Dole.-V. 101. p. 923.
Cook:
ORGANIZATION.-Entire $600,000 stock is owned by South Jersey
Gas, Electric & Traction Co. All bonds have been canceled.
UNION
STREET RAILWAY.-A trolley road.
ROAD.-Comprises 25 miles of road.
ORGANIZATION.-Incorporated in Massachusetts on March 18 1887
(7) People's Elevating Co.
as a consolidation of Acushnet St. By. and New Bedford & Fairhaven St.
ORGANIZATION.-Incorporated in New Jersey May 311899. Stock By. On Nov. 1 1910
consolidated with Dartmouth & Westport St. Ry.
is all owned by Public Service By. Co.
V. 91, p. 465, 519. 718, 1096.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Interest. Outstanding. Last div.etc
Stock,$250,000 ($100)$1.625.000 (par $100)_$1,625,000 Feb •17. 2%
Q-F
First mortgage. 3250,000,k, 1899
5 g A-0
$127
55
0,b
00
00
0 Oct 1 1939 Stock.
First M $2.000,000 ($1,000),J 1914 4% g J-J
c*tf I Int. at N.J.TitleGuar.&Tr.Co.,J.C.,Truste.
250,000 Jan. 1 1934
gold ($1.000)
gold, no sinking fund__ nt.
t Co., Boston, Trust.
(8) New Jersey & Hudson River RY. SC Ferry Co.
Notes
payable
June 30 1916---------------------180,000
Public Service Corporation has acquired $2,446,350 of the $2,500,000
Bonds.-Redeemable after Jan. 1 1919 at 110. Issued to retire consol.
common and $4,633 of the $750,000 pref. stock. V. 91, p. 95. Is leased
to Public Service By. for 900 years from May 1 1911 for interest on bonds mtge. of 1894, due Jan. 1 1914. V. 97, p. 1584, 1664.
Dividends.-In 1896-97. 10%; in 1897-98. 6%; 1899 and since. 8%.
and 6% on both common and pref. stocks.
ORGANIZATION.-Incorporated at Trenton, N. J., on Feb.
ROAD.-Operates 63.69 miles (of which 55.06 miles are owned) in New
25
as a consolidation of Now Jersey & Hudson River Ry. & Ferry Co.1910
and Bedford and adjacent towns and connects New Bedford and Fall River.
Hudson River Traction Co. This company owns the entire capital stock
220 passenger cars; 14 freight and service cars and 14 snow plows.
and bonds of The Riverside & Fort Leo Ferry Co., owner of the West 130th
EAltNINGS.-For 12 mos. ending June 30 1916, gross, $1,024,434; net.
St. Ferry. These securities are all deposited under the $5,000,000 mort- $313.836: int., taxes, &c.. $99,371. dividends (8%), $130,000; surplus.
gage. Franchises perpetual except one for 50 years and one for 99 years. $84,464. Revenue passengers carried in 1915-16, 19,523,653, against
001ilefly private right of way.
18,759,118 in 1914-15.
•
Fares.-For suit brought in U. S. Dist. Court asking that a resolution
OFFICERS.-Pres., H. H. Crapo; V.-P.. E. S. Wilde: Sec., 0. A.
passed by the Board of Chosen Freeholders of Bergen County, N. J. re- Cook; Treas.. E. F. Nicholson; Supt., E. S. Wilde, all of New Bedford.ducing the fares of this co. be declared illegal and void, see V. 99, p.'407 V. 91, p. 465. 519. 718. 1096; V. 97. p. 1584, 1664. 1735; V. 98. P. 525.
STOCK AND BONDS- Date.
Interest. Outstanding. Dividends.
Stock, corn, $5,250,000 ($100)
$2,500,000 See text
Stock, pref. $750,000 6% cum ---6 F-A
NEW HAVEN, CONN.
750,000 See text
4 g M-S
J& lilt RY & F Co l.stM,l 1900
4,011.000 Mar.! 1950
($1,000)_c*tf
NEW YORK NEW HAVEN & HARTFORD RY. (Trolley lines.)
Int.
at
U. S. Mtge.&Tr.Co., N.Y., Trustee.
$5,000,000 g
Find lily Trac 1st M,$1.000,- 1902 5 g m-8
The New York New Haven & Hartford's interests in trolley lines have
631,000 Mar. 1 1950
tf Int. at U.S. Mtge.& Tr. Co., N.Y.,
000 g ($1.000)
Trustee been very extensive, but under an agreement reached with the U. S. Govt.
Stock.-Pref. stock is redeemable at 115 and accrued dividends.
In 1914 the company has pledged itself to dispose of the same.
$1,500
pref. stock In treasury.
The trolley companies owned by the N. Y. N. H. & H. (control of the
Bonds.-N.J. SG Ilud. River By.& Ferry Co. bonds can be called on any Connecticut Co. and Shore Line Llectric RR. of N. Y.
being held through
int. day at 105 and int. upon six weeks' notice. V. 80, p. 998. Hudson
the New England Navigation Co., whose stock is owned by the New Haven
River Traction bonds are subject to call on any
Co.). and which are now to be disposed of under the decree of the Federal
are owned by N. J. & II. R. By. & Ferry Co. int. date at 110. $67.000 Court, are as follows:
RKPOBT.-Included in Public Service By.
Berkshire Street Ry.
The Hoosick Falls RR. Co.
ROAD.-Owns and operates 31.33 miles of track from Edgewater,
The Vermont Co.
N. J. Connecticut Co.
(terminal of W. 130th St. ferry, N. Y. City),
Stamford
York
New
&
Ry.
to
Englewood.
Hackensack
Westchester Street RR.
and Paterson; also 17.11 miles of track from Hackensack to Hasbrouck Rhode Island Co.
Shore Line Electric RR. of N. Y.
Heights, Woodridge, Rutherford to Arlington and a branch line
The N.Y. N. H.& H.also owns $4,924,937 of the $5,005,250 stock of the
from Hasbrouck Heights to Lodi. The cars of this company
Westchester
N.
&
Y.
operate
Boston
to
the
By.,
an
business
electric
road, which it is under no oblicentres of Newark. Passaic and Paterson.-V. 92. p. 462; V.99, p.
gation to dispose of and which will be developed as part of the New Haven
407.
system.-V.97, p. 1393; V.99. p. 270.604, 1125, 1210; V. 100. p. 642.
(9) Riverside Traction Co.-Trolley.
Lease.-Conmany is leased for 999 years from
April 1 1912 to Public
Service By. The lease provides for int. on bonds 5% divs.
CONNECTICUT COMPANY.
on outstanding
pref. stock and a div. on corn. amounting to $14,193 the first year, inPasses to Trustees.-On Oct. 27 1914 the $40,000,00() capital stock
creasing annually until seventh year, when the maximum of $20,169 will of Control
this co. held by New England Navigation Co. was transferred to the five
reached.
V.
94,
1)•
699.
have been
trustees, pursuant to the requirements of the U. S. Dept. of Justice. V. 99.
ORGANIZATION.
-Incorp. in New Jersey June 20 1910 as successor to p. 1451. The New Haven Co. has bound
itself to sell the stock, and the
Camden & Trenton By..sold at foreclosure. See plan, V. 88. p. 1126.
trustees are to use their best endeavor to complete the sale before July 1
Owns 395 out of 400 shares (par $50) of the capital stock of the Cinna- 1919. The trustees are: Judge Walter C. Noyes of New London, Leonard
Pow.
&
Mg.
Co.
Lt.,
of
minson Elec.
N. J., which supplies the M. Daggett of New Haven, Charles Cheney of South Manchester, Morgan
towns of Beverly, Delanco, Riverside,Riverton,
Riverton and Palmyra, with light. B. Brainard of Hartford and Chas. G. Sanford of Bridgeport. See remarks
Also owns entire capital stock ($50,000) of the Bordentown Elec. Co., which under N. Y. N. H. & H. RR. Co. above and V. 98, p. 1000, 1245.
Bordentown
and vicinity.
supplies light to
This is the company which operates the trolley lines in Connecticut
by the N. Y. N. H. & H. and which formerly were comprised in
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. controlled
the Consolidated Railway Co.
($50)
-Common,$1,100,000($50)--$747,150
ORGANIZATION.-Incorp. in Connecticut. Stock, $40,000,000, all
- 00
Preferred, $400,0
5%
266,500
owned by New Eng. Nay. Co. (but see above). New Haven Co. owns the
First M $1,500,000 g ($100,1 1910
5 g J-D
1,500,000 June 1 1960 $1.500,000
debs. June 1 1907 began operating the lines comprising the
$500&$1.000)call. at 110 tf(Int. at West End Trust Co.. Phila.. Trustee.
Consolidated By.(merged in 1907 in the N. Y. N. H.& H.); Feb. 28 1910
Bonds.--Subject to call, all or any, on any interest day at 110 and int
purchased substantially all the various street railway properties of the
Interest is guaranteed by Public Service By. V. 94, p. 280, 352.
ROAD.-Comprises 32.96 miles of track between Trenton and Riverton N . Y. New Haven & Hartford in Connecticut.
On March 1 1910 all the gas, water and electric-light properties formerly
(where connection is made with Camden & Suburban By. Tracks). By a
contract between this company and the Camden & Suburban, the Riverside operated by the Connecticut Co., but owned or leased by N. Y. N. H.
Traction cars run direct to Philadelphia Ferry at Market and Federal streets, & H. RR. Co.. were transferred to the Housatonic Power Co., which company increased its stock from $1,000.000 to $3.000.000, to pay for the
Camden.-V.93, p. 408; V. 94. p. 280. 352. 699.
acquisitions. On Jan. 1 1912. however, the gas-distribution linen of the
(10) Paterson & State Line Traction Co.
Housatonic Power Co. and also the lines supplying electricity (not the
Stock all owned by the Public Service Railway Co
power plants) in Waterbury. New Britain, Greenwich. Norwalk and
ORGANIZATION.-Incorp. in New Jersey Nov. 15 1901. Stock Naugatuck
taken over under a sub-lease for 994 years dated Oct. 1
authorized, $300.000 (increased in July 1913 from 4100,000; V.97, p. 522); 1911 by thewere
United Elec. Lt. & Water Co. V. 94, p. 71; V. 93, p. 1669.
outstanding, $150,000.
Lease.-The Connecticut
owns and has leased to the Shore Line Elec.
BONDS.Interest. Outstanding. Maturity. Ry..89.20 miles of track in Co.
Date.
New London.Willimantic, Danielson
Put1st mtge 6300,000 gold
1914
5 J-I)
$150.000 June 1 1964 nam. See separate statement for The Shore Line Elec. Ry.furtherand
below.
Fidelity Trust Co., Newark,trustee.
Fare Decision.-See V. 99, p. 1672.




9-'

70

ELECTRIC RAILWAYS

controlled
The following companies have been absorbed or are leased or
Ry. V.79, p.268.
Branford Lighting & Water Co. V. Middletown StreetBy.
p. 268
79,
V.
Street
*Montville
81. p. 155, 210.
P. 989'
Connecticut Railway & Lighting Co. New Haven St. Ry. V. 79,
New Ilaven & Centreville Street By.
V. 83, p. 1524.
V. 78, p. 989.
Danielson & Norwich Street Ry.
New Hay. & W. Haven Horse RR.
V. 79. p. 268.
London St. By. V. 79, p. 268.
*New
Ry.
St.
&
Glastonbury
E. Hartford
79. p. 268.
Fair Hay. & Westv.R R. V.78,p.989. *Norwich Street Ry. V.
Street Ry.
Farmington Street By. V. 69, p. *Putnam & Thompson
By.
Street
Springs
Stafford
283; V. 89, p. 593, 1542.
By.
Greenwich Tram. Co. V. 80, p. 118. Stamford StreetSt.
Ry. V.85,p.1463.
Hart.Man.&Rockv.T.Co. V.82,p.280. Torring.& Win.
Co.
Tramway
Wallingford
Hartford & Middletown Street Ry.
Waterbury & Pomperaug Val. St.Ry.
Hartford Street By.
78, p. 989.
V.
Co.
By.
Shore
West
268.
p.
79,
V.
By.
Meriden Electric
Co. V.81, p.1176.
Meriden Horse RR. V.79, p.268. *Willimantic Trac.
989.
Meriden Southington & Compounce Winchester Ave. RR. V. 78, p.
Tramway Co. V. 83, p. 1524.
which
*These roads were leased in 1912 to Shore Line Electric Ry..
see further below.
its stock for $200
The N.Y. N. H.& H. RR. offered to exchange $100 of
See V. 82. p. 803.
of certain issues of the Consol. By. Co.'s debentures.
so exchanged for
been
have
debentures
of
$17,585,000
1037.
and V.83. p.
the
$8.792,500 N. Y. N. H. & H. RR. stock. The following shows
details for each issa. of debentures:
free.
tax
ll
Company-A
Railway
Consolidated
The
of
Debentures
Ex. for Stk. or
Issued. Pur.& Cancel. Still Out.
Authorized.
Issue$745,000 a$4,255,000
$5,000,000
$5,000,000
J-J
4g
50-yr.,
July 1'04,
1,691.000 a2.309,000
4,000,000
Jan. 2'05. 50-yr..4g J-J 4,000.000
2.160,000 al.340,000
Apr. 1 '05, 50-yr., 4g A-0 3,500.000 *3.500,000
7,989.000 a2,011.000
Jan. 1'06, 50-yr.,4g J-J 10,000,000 *10,000,000
5,000,000
5,000,000
Mar.1 '07, 10-yr..5% con.15.000,000

[VOL. 104.

Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
$8,977,200 May '17.1%
Common stock ($100)Prof 5% cum after Jan 1 1904
8,142,900 May '17. 1%
Q-F 15
($100) (reduced to 4% un- __der lease to New Hay Co__
4% g J-J 12,551,000 Jan 1 1951
1st & ref $15,000,000 gold 1901
$1,000) sinking fund_c*tf Int. at Equitable Trust Co., N. Y., Trustee.
706.000 July 1 1923
5 g J-J
Bridgeport Traction mort- 1893
J.
t dnol
Fidelity
ntrat
c;Trustee,
mg $2.000,000 gold ($1.
1939
1
Jan
209,000
5 J-J
Connecticut Light & Pow_ ntf 1899
to
Bonds.-Of the 1st and refunding mortgage bonds,$915,000 reserved or
for extensions
retire the prior bonds. The remainder was reserved
be issued for
betterments, but under lease to the New Haven road cannot
to New
any purpose without consent of lessee. V.84. p. 507. Statement
V.85. p. 921.
York Stock Exchange in V. 73. p. 852: also V.79, p. 2745; also1904
suppleBonds were formerly not subject to call, but on June 23on anya interest
mental mortgage was made giving the right to call bonds
per an1%
of
%
of
fund
sinking
a
date at 105 and interest and establishing
fund are to be
num on bonds outstanding; bonds acquired by the sinking
fund.
sinking
in
bonds
$979.000
interest.
kept alive and bear
Bondholders assenting to the supplemental mortgage had their interest
t. See
guaranteed by the United Gas Improvement Co. by endorsemen
1 1904 and was
V. 79. p. 626, for form of guaranty. Offer expired Oct.
V. 83, p. 969.
accepted by $10.742,000 of outstanding bonds. Seesecond
and 8.773 miles
ROAD.-Owns 170.987 miles main,77.686 miles
Stratford,
side tracks; total, 257.445 miles. reaching Milford, Bridgeport,Saugatuck,
Southport, Shelton, Derby. Ansonia, Seymour, Westport,
lines in
also
Stamford;
and
Darien
Britain,
New
Norwalk,
South
Norwale,
Haven &
Naugatuck, Waterbury. &c. System connects with the Fair
and company
Westville RR. into New Haven from Bridgeport and Derby.
also has traffic contract with the Hartford Street By. for reaching Hartford. Gauge. 4 feet 8% inches. 35 to 95-lb. rails.
EQUIPMENT.-Total cars. 474; closed passenger, 199; open passenger,
201; miscellaneous, 74. Car barns, 20; also 4 complete electric-light plants;
also owns gas plant at Norwalk and operates gas plant at Waterbury.
REPORT.-For year ending June 30 1916, rental, $1,399,418; interest,
$3,227; gross income.$1,402,645; interest paid, $610,545; expenses,$4,785:
sinking funds, $62.755; dividends, $684,804; surplus, $39,756.
OFFICERS.-Pres., R. A. C. Smith; V.-P., Walton Clark; Sec., G. W
Curran; V.-P. & Treas., Lewis Lillie. Office, New haven,
V. 84, p. 390, 507. 1113, 1366: V. 85. p. 921; V. 86. p. 228.
(2) West Shore Railway.
-Organized Dec. 15 1893. Leased on Dec. 14 1895
RR. for 99 yrs. for int. on bonds and 5% div. on stock.
TION.
Winchester Ave.
toORGANIZA
Lease assumed Feb. 28 1910 by the Connecticut Company, which operates
the property.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$80,000 See text
Stock,3200,000($25)
Standard gauge.
track.
of
miles
ROAD.-Owns 7.42

Total exchangeable__$37,500,000 $27,500,000 517,585.000 $9,915,000
Feb. 1 1905, 25-year,
972,000
28.000
1.000.000
now 4 g F-A (see text) 1,000,000
$38,500,000 $28,500,000 $17,613,000 $10,887,000
Total of all
a These
*Guaranteed, principal and interest, by N. Y. N. H.& 11. RR.
canceled.
amounts cannot be increased, as remainder of issues has been
b Not exchangeable for stock.
The debentures are in coupon form of $1,000 each and fully registered
debentures of $10,000 each, which are non-interchangeable. Interest may
be collected in Now York City and Boston.
Interest. Outstanding. Maturity.
Date.
BONDSSee text
$414,000
Equipment notes Series "B"f 1916 4 g M-S 15 Co..
Hartford, trustee.
Tr.
Security
at
ctInt.
($1,000)___
gold $460,000
1 1933
Sept.
283,000
5 g M-S
N II & Centerv 1st M, Ica 1893
assurn'd byN Y NII&II.ntfj
RR.
THE RHODE ISLAND CO.
New Haven Street
2,500,000 Sept. 1 1930
4 g M-S
Control Passes to Trustees.-On Nov. 7 1914 the securities of the Rhode
Hartford Street By, nowl 1900
artford. Island Co., the Providence and Danielson By. and the Seaview RR. (see
Dep.
1st mortgage. $2,500,000iConn. Tr. & SafeNew
Co.,Or Boston.
York
c*ntf t Trustee. Int. at
V. 99, p. 1452), recently held by the N. Y. N. H.& II. R R. Co. and carry($1.000) g
165,000 Jan 1 1930 ing complete control of the system, were transferred to five trustees as
4 J-J 15
Hartford St By doben "M"ntt 1900
1943
1
Jan
1,992,000
J-J
g
4%
1902
gt
f
by the U. S. Department of Justice.-V. 99 p. 1452. These
Ms
1st
required
East
Wore & Conn
Trustee. trustees are to exercise their best effort to sell the securities of these com$3,100,000 ($1,000)_ _c*HjInterest at New York Trust Co.,
Theodore
by July 1 1919. The trustees are: Rathbone Gardner,
panies
Hart Man & Rock Bra mtge
200,000 Oct 1 1924 Francis Greene,John 0. Ames,John P.Farnsworth and Chas. C. Mumford,
5 A-0
$300,000 (31.000) gold_ n tf 1894
V. 98.
and
above
1
statement
1924
Jan
RR.
II.
415,000
5 g J-J
Providence. See N. Y. N. II. &
Meriden Horse Railroad con- 1894
a. all of
1000, 1245.
solidated mortgage gold Interest at Girard Trust Co. of Philadelphi
of the Rhode Island
, Trustee. p.ORGANIZA
Act
Special
Connecticut
by
of
in
1902
Treasurer
-Created
TION.
State
tf
8500.000
175,000 July 1 1928 Legislature. Leases the Union Railroad Co.,the Pawtucket Street Railway
5 g J-J
Mer South & Comp 1st M g 1898
Optional at 110 and interest.
Co. and tho Rhode Island Suburban Railway Co.-see terms under United
5200,000 ($1.000) cc ntf
America, Now York. Traction & Electric below. The Rhode Island Co. has no bonds. In
of
Co.
Trust
at
Interest
callable at 110 since 1903__
150,000 Dec 1 1917 June 1907 purchased the Providence & Burrillville Street By., the Colum5 g J-D
Torr St Win first mortgagel 1897
V. 84, p. 1368.
c* ntf'Int. at Huriburt Nat. Bank. Winsted, Conn.
bian Street By. and the Woonsocket Street By. companies.
$150.000 gold
RR.
320,000 July 1 1931
5 g J-J
In June 1911 leased the Providence & Danielson By., the Seaviow
Greenwich Tramway first 1901
Trust Co., New York. and Narragansett Pier RR.-see terms under separate companies below.
mtge $400,000 (31,000) Interest at New York
State Treasurer of Connecticut, Trustee. V. 92, P. 1566.
c* ntf
gold
with city of
400,000 July 1 1956
5 J-J
Franchise.-On May 27 1912 entered into an agreement
Stafford Spgs St By 1st M g tt _
1 1912
1,500,000 To 1922
5%
ibis
granting the company a 20-year franchise from July
Provisional debentures
mentioned
All Providence
call.
principally
to
&c.,
subject
equipment,
not
are
operations,
debentures
to
as
By.
d
regulations
under
Consolidate
-The
Bonds.
mortgage
a
if
that
statement
the
in V.95,P. 619.
the debentures have printed on their face
by
owned on Jan. 1
In April 1917 the company accepted the provisions of an Act passed
Is made on any or all of the company's property which was shall
participate the General Assembly and signed by the Governor calling for an investi1905, except to renew existing mortgages, the debentures
found
if
relief,
3%
financial
bore
of
1930
in
affording
due
in the security of such mortgage. The debentures next 5 years. From gation of the company's affairs and the
interest from Feb. 1 1905 for first 5 years and 3%% forto pay for acquiring just.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
Feb. 1 1915 to maturity bear 4%. They were issued
y acquired Stock,
1913. 6%
$9,685,500
par $100
the Berkshire St. By.(V. 80, p. 471), which co. was subsequentl
the N.Y. Notes gold
1,662,000 Mar. 1 1921
by
g M-S
5
re-acquired
turn
1916
in
then
Call-J
Co.,
c.
Security
($1,000)
&
Inv.
Engl.
New
the
by
trustee.
acCo.,
to
Trust
l'rov..
issued
Industrial
were
at
1955
1
lint.
April
due
able at 101 and int
N. H.& H. The 33.500,000 debentures
*4,667,000
debentures of Jan. 1906 Loans and bills payable Mar. 31 1917
quire the Hartford Street By. The 310,000,000
311917.
on
Mar.
II.
&
H.
N.
advances.
N.Y.
for
by
Ilartford
held
wore
&
notes
H.
N.
above
Y.
N.
the
to
*53,005,000
were issued
& Elec.
costing more
Gold Notes.-Secured by $2,078,000 par value of UnitedinTraction
The Ser. "B" equipment notes are secured by equipment,
Rhode Island.
in cash. They Co.
stock. See offering in V. 102, p. 2255. Tax-exempt
than $580.000, the company paying more than $120,000Tax-free
Conof line
in
miles
362.44
1921.
to
operates
1917
Company
15
Island
Sept.
and
Mar.
ithocie
ROAD.-The
mature $46,000 s.-a.
39.93 miles
street railway and 8.41 miles steam railroad),of which
necticut when held by individuals. V. 103, p. 1117.
of Provimore will be Issued. (354.03
cities
the
serves
It
leased
are
miles
322.51
and
owned
Of the Worcester & Connecticut Eastern bonds, no
exceed 1% of are
in Rhode
A sinking fund on these bonds commenced in 1908 of not to
dence, Pawtucket. Central Falls, Woonsocket and Cranston
may be bought on a 3% Island and Danielson, Conn. and the towns of Warwick. North Provibonds outetanding. Bonds cannot be called, but
$168,000
BurrillSmithfield.
1204.
p.
75,
V.
North
See
fd.
Smithfield.
sink.
for
alive
'
kept
Johnston,
and
Providence,
better,